We can all start breathing again after hearing Pravin and Tito will remain in their posts. Most of the Zuma rot has been cut out and the current cabinet members lean more towards an investor-friendly environment and cautious optimism. The rand strengthened after the announcement but unfortunately the strength of the US$ still resulted in the rand trading at a multi-month low.
The wealth management company Vestact referred to an interesting blog regarding financial independence recently. The blog highlights the fact that financial independence has nothing to do with being a millionaire, but rather means being able to determine what income makes you happy and then living accordingly. Having money and not spending it on things that make you happy is as bad as spending money you do not have.
Getting this balance between income and spending right, requires some planning and a regular evaluation of the planning is equally important. At JWR we spend a lot of time helping clients with these plans. We believe that living according to a financial plan is something you can control, but trying to predict shorter-term investment returns is a waste of time.
The most successful people are those who can focus on something specific – but that “something” must be under their control.