Where can you find Pikachu, and why is there only one of those in the Pokemon universe? What about a nerd with a hot bod, the modern knight in shining armour? Atlantis, does that even exist? There are a number of gems (real and fictional) that most of us go in search of that would change our lives. While I have some idea about where you can find any of the former examples, I'm here to introduce one that could change your investment journey for the good: the Recurring Investment.
You're probably thinking, 'What a doos. The Recurring Investment is one of the most obvious facilities on EasyEquities.' You are right. While I do sometimes have the occasional brainfart, and my colleagues can vouch for this, there's more to the Recurring Investment feature than meets the eye.
A peak behind the curtain
You may not know that of all the profiles that have Recurring Investments activated on their accounts, the bulk of them are automated to go into specific stocks and instruments. Only 3.14% of all Recurring Investments activated on the platform go into clients' available balances. Meaning that 96.86% go into specific stocks and instruments. That could mean one of two things:
Users on EasyEquities are very much committed to specific stocks and back them to do well, which is dope. OR, not enough people know that they can actually set up a Recurring Investment to go into the available balance, allowing for more purchasing freedom within the consistent funding of their accounts.
A look at the culture outside
Not enough South Africans are saving, or not saving enough, according to Mail & Guardian. We're putting away only 0.2% of disposable income into savings, and there are valid reasons why this number is so low. This can change though, even if it's baby steps. Firstly there are investment vehicles (that EasyEquities also offers) like the Tax-Free Savings Account which offer reprieve from the taxman in times of high VAT and other basic living costs. The Sowetan recently covered just how far a funded TFSA could go for you and the generations to come.
So what now?
You can guess where I'm going with all of this. Set up a recurring investment into your EasyEquities Tax-Free Savings Account, which you get automatically at no cost. Kill two birds with one stone, establish a culture of saving, and make the most of the facilities at your disposal by investing - tax-free. Simply because consistency is key, and growth is paramount. So here's a bit of advice that I cannot get in trouble for giving: start saving. You may find yourself above the 0.2% average in no time.
Yours in investing,
Standwa 'The Real Gem' Nongauza
Keep your treasure hunt going, check out:
Consistency, a Financial Secret They Don't Tell You About