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Personal Finance

Peace-of-Mind Financial Planning

Getting income and growth balance right.

Bryan Hirsch



Planning Finances

Let me begin with a few preliminary cautions: Investors wanting to create wealth are often unable to differentiate between ‘peace-of-mind’ solutions and creative investment strategies. A further stumbling block arises when investors attempt to achieve high rates of growth, yet have a simultaneous need for income. These two quite different situations have to be dealt with separately to find an investment strategy that will fit your needs.

Income protection

Peace-of-mind solutions should encompass the following three criteria:

1. Death too soon

Are there two breadwinners in your family? Do both provide cash for the protection of the family, and is there sufficient liquidity to pay off debts?

2. Living death

You need to provide income and/or capital for the possibility of temporary or permanent disability, as well as dreaded disease. Are you adequately covered for all major hospital expenses?

3. Death too late

Using today’s income needs and projecting to retirement, have you made calculations to understand the capital that will be available at retirement and the income this will provide each month, taking inflation into account?

If your planning has been adequate, the chances are that you will be able to maintain a reasonable standard of living. This will provide the solution to achieving financial peace of mind. Secondly, once this strategic foundation has been laid, all your future financial investment plans need to be made with the objective of creating wealth.

To achieve this, you will need to consider other possible investment avenues. Experience has proven that the investment of surplus funds, together with the risks you are prepared to take, will achieve the second objective.

Wealth creation

I am not suggesting investing in risky and adventurous schemes, but rather investing for the long term; anything from five to ten years, directly into the equities market (shares) and/or property investments. This is where real wealth and fortunes have been made.

There is ample evidence available to show that a well-chosen portfolio of shares over a long period of time will turn out to be a greater wealth creator than many traditional insurance or investment products.

I will be honest, most endeavours over the past ten to 15 years to find new products that not only give tax-efficient income but also provide capital growth have failed dismally. Thus, in terms of an investment strategy, where you are looking for income and growth you need to split your capital into two separate investment strategies.

The first part is to provide income in line with that which could be generated from this part of the capital. It must be borne in mind, however, that the income portion will be reduced because of inflation. One therefore needs to have a strategy in place to increase this income to absorb the negative effects of inflation.

The second part, the remaining capital, should be invested for a period of seven to ten years. There are a number of products available in which the remaining capital could be invested to provide for capital growth.  These opportunities relate to both local and international investments.

Steer in the right direction

In conclusion, my recommendation is that once a solid foundation has been established to provide you with peace of mind, you should assess your options carefully. Always ask yourself whether you are investing for capital growth, or whether you need income.

By doing this, you will be covering both of the entities I have suggested you should consider in your overall plan. The answer to all these questions will help to steer you in the right direction for the future.

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.

Personal Finance

6 Ways To Develop A Millionaire Mindset

Chasing money has remarkably little to do with getting rich.



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If you truly want to have a million dollars, you must first be and think like a millionaire. By doing so, you will attract the necessary resources to you.

So, you want to become a millionaire entrepreneur? You’re not alone. Many dream of leaving their job and becoming their own boss, enjoying the various millionaire lifestyles we watch on TV. But there’s a difference between those who dream of becoming millionaires and those who do. And it begins and ends with mindset. If you don’t develop that mindset, you will continue to spin your wheels, working just as hard, but never going anywhere.

Developing a millionaire mindset requires you to stretch your thinking. Start by developing the following six attributes.

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Personal Finance

4 Ways To Become A Millionaire Even When You Start With Little

It costs nothing to take advantage of the limitless opportunities online.

Timothy Sykes




The hardest part of becoming successful is getting started to begin with. But despite the challenges ahead of you, there’s a way to become a millionaire when starting with little. I’m going to show you four reasons why you can become a millionaire with just a small investment.

1. First focus on learning, not big gain

Education is your greatest weapon. Focus on learning in the beginning. Don’t make the mistake of focusing on making huge gains in the beginning. Learn everything you can because this is how you build the foundations for long-term gains.

Related: 21 Choices Millionaires Make That You Aren’t Making But Should Be

They say that if a millionaire goes bankrupt they’ll nearly always be able to get it back. And that’s because they might have lost their money, but they have the knowledge of how to get back to where they need to be.

2. You can learn loads about any topic online


I’m grateful for the internet. It’s the single biggest library in the world. You’re reading this article right now and you’re acquiring knowledge you wouldn’t have been able to acquire 40 years ago.

Use the internet to its fullest extent, whether that’s through reading books, browsing articles or watching video tutorials. Set some time aside every day to learn something online. It could be a video series or a favorite blog.

When you get into the habit of learning regularly you’ll find that you advance much faster.

3. Focus on the niche you love

These days you can learn about anything and target the niche you’re passionate about.

This is what I was able to do with penny stocks. I found a gap in the market and provided knowledge to people who wouldn’t have otherwise being able to access this sort of information.

You can do that with absolutely any niche. When you find a niche you’re passionate about and you use the reach of the Internet you start to make huge gains.

4. Prove your expertise by creating free content

Your reputation as an authority is the new business card. There’s a reason I created a penny stock guide and made it free for all. You may have already seen ads for it on social media. The way to succeed with little is to create a reputation through your content.

Related: How To Become A Millionaire, Explained In 1 Minute

It’s the gateway to success because through free content you start to build relationships with others who value your work. And from there everyone gets richer.

You can do lots with a little

The days when you needed a huge investment to become successful are long gone. These days you can do so much with just a little. Find what you love, advance your knowledge in that area, and create a product that fulfills a need. Finally, work on building up relationships through portraying yourself as an authority on your subject.

Combine everything together and you can accomplish anything.

This article was originally posted here on

Related: 13 Habits Of Self-Made Millionaires You Could Adopt Today

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Personal Finance

10 Tips To Become A Millionaire This Year

Becoming a millionaire requires changing your mindset and implementing some changes.

Murray Newlands



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Becoming a millionaire may seem out of your reach, but it’s possible with the right attitude and guidance. The fact of the matter is your income can only grow as quickly as you do, so you need to change your mindset to achieve your goal of becoming a millionaire.

Once you have a millionaire mind, you can’t lose it, no matter what financial or business mistakes you make along the way. To get yourself there, you’re going to need some structure. To help you, I’ve outlined the top ten tips you should follow to become a millionaire this year.

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