I know I need to start investing for the future but have...

I know I need to start investing for the future but have no idea where to start?

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You need to find a way to build wealth and protect it from being eroded by taxes, inflation and market fluctuations. A good financial plan takes into account future interest rates, growth rates, inflation and your current requirements projected into the future.

You could be planning for any or all of the following:

  • Protection for your family in the event of death
  • A plan should you fall ill or become disabled
  • Creation of wealth
  • Saving for a home
  • School and university fees
  • Family celebration (barmitzvah, wedding)
  • Estate planning
  • Retirement planning
  • Tax planning.

Once you know how much money you will need for your future requirements, you can start planning for your financial future. You should review your plan on at least an annual basis, but more often is advised.

Read the full article here.

Bryan Hirsch
BRYAN HIRSCH has been in the financial services industry for 47 years and is a director of Bryan Hirsch Colley & Associates. He has written two books, the first Bryan Hirsch’s Guide to Personal Finance and more recently, Steps to Financial Freedom. Bryan has written for many of South Africa’s top financial and business publications, has been a weekly guest on Radio SAFM for 18 years, and has his own weekly TV show You & Your Money on Summit TV.