@JK_ZA Disappointing for direct clients as this is a big increase. EAC will almost double.
They didn't change the fees through third party could have at least subsidised direct clients with increasing third party fees.
💰simple two pot system maths💰
withdrawing 20k today could mean losing out over 1 million at retirement 🥲 🥲
here's an example using Discovery's online calculator for a 25 year old cashing out 20k today (instead of staying invested)
you need to work nearly two extra years..
R1000 invested in a Top40 tracker at end of Nov 2000. Look at the journey of that R1000 up until yesterday, with the different fees. Even at 2% fees, 37% of your money is gone. I have not even taken into consideration the inflation erosion.
LOW FEES ARE IMPORTANT
@FrugalLocal If you buy them at a discount on auction it can be worth it. Some of the previous deals closed at 80c per share. If they sell the property at breakeven price of 100c you would have made 20%
@FrugalLocal For each property investment there is a term where they plan to sell the property after 5 - 7 years. The owners of the shares must vote whether to keep or sell. The first properties listed have not reached the 5 year mark yet.