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Personal Finance

Stick to the Plan

Match your investment strategy to your needs.

Bryan Hirsch




I make no excuse for my passion for financial planning. After all, that is my life and it is therefore exactly what I am all about. And, like many others who offer advice on specialist subjects I do wonder just how much of what I discuss in my articles and radio shows ever actually results in appropriate action being taken by my audience. For example, I have always maintained that the starting block for one’s financial plan is to sit down with a qualified financial planner and do a thorough financial analysis every year. I have recommended that you keep an eye on your risk profile and match it with your ever-changing needs, especially when you get close to retirement.

Generating funds

I recommend my own brand of KPIs which can be described as my ‘Key Producers of Income’. These particular KPIs comprise a relatively short list of essential elements in one’s personal financial security formula. They include important action events:

  • Estate, tax and retirement planning.
  • Savings. Short, medium and long-term.
  • Budgeting appropriately.
  • Monitoring of financial performance.
  • Moving from financially disorganised to financially organised.

None of these elements should be considered to be more or less important than the others. They all have a role to play and they certainly do have bearing on how successful your financial planning will be.  Despite our understanding of these things we tend to blame everything around us when outcomes are not what we expected. The trouble is that too often we are actually the sole reason why the outcomes are not what we hoped they would be.

Building your future

Let me illustrate a typical example, using a person who has a family and lives a comfortable life as a result of hard work and dedication. He admits that their risk profiling clearly indicates “conservative.” Accordingly, they have built a safe personal portfolio over the years and it seems to be working well.

Everything looks as if it is on track to attain the specified financial goals. Then one Saturday morning a couple of weeks before their annual holiday the family is strolling around a new car showroom next to the car wash. They take their time looking at the new models and because of the adrenalin rush, those KPIs, which include the personal risk profile, become so hazy that suddenly some ‘indiscreet’ decisions happen to be made. These decisions include using cash saved for the impending holiday as the deposit on one of the new cars, with the readily-available excuse that their credit card will pay for the holiday.

The financial plan will have been disregarded for just long enough to change their financial strategy and so the inherent risk increased. Experience proves that the next thing that happens is that ’buyer’s remorse‘ may set in for a few days, but new influences dictate that a reassessment of their financial situation is called for.

A new plan is urgently required to ensure that long-term financial planning is not jeopardised to the detriment of hard-earned peace of mind.

Moving with your plans

There are many who will be able to identify with the character. Life tends to work that way: most of the time we are disciplined in our approach to how we spend our money and set goals. These goals often include an element of saving — and wisely so. The problem only arises when we upset the balance and allow financial risk to increase disproportionately to our original plan.

Think about your own situation. How much risk are you exposed to at present. Are your investments in property and equity markets? The solution may simply be regular monitoring, but it may also require a specialist to clearly identify the needs and add value by structuring a real solution. My advice to you is whatever you do, do not ignore your KPIs, manage them.

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.

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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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