In this today's Q&A, Warren Ingram discusses the moral responsibility of employers to support their domestic workers, particularly in terms of retirement savings. He emphasizes the conflict between immediate financial needs and long-term savings goals, advocating for open communication and financial education. Warren suggests a balanced approach to financial planning that considers both the urgent needs of employees and their future security.


Takeaways

• Contributing to retirement savings for domestic workers is a moral imperative.
• Many domestic workers face immediate financial needs that conflict with long-term savings.
• Open and honest conversations between employers and employees are crucial.
• Financial literacy is essential for helping domestic workers understand their options.
• Employers should avoid being paternalistic and instead empower their employees.
• A blend of immediate access to funds and long-term savings is advisable.
• Understanding the difference between needs and wants is vital in financial discussions.
• Employers should approach financial education with patience and clarity.
• Asking employees how they want to be helped fosters better relationships.
• It's important to do homework and learn from others' experiences in similar situations.

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Welcome to the new year, in this episode Warren Ingram reflects on the events of 2024 and shares insights for the upcoming year. He discusses the changes at Honest Money, including new written and video content, and delves into the political landscape's impact on economies, particularly in South Africa. Warren highlights the importance of inflation and interest rates in the global economy, the valuation of tech stocks, and the potential of emerging markets, emphasizing the need for diversification in investment strategies for 2025.


Takeaways

• Honest Money is expanding its content offerings with more written articles and video content.
• The political landscape in 2024 has led to significant changes in voter sentiment and party dynamics.
• Inflation and cost of living are major concerns for voters globally, impacting political outcomes.
• South Africa is experiencing a shift in governance with a government of national unity.
• The outlook for energy supply in South Africa is improving, with hopes for reduced load shedding.
• National health insurance poses a risk to the healthcare sector in South Africa if not managed properly.
• Global inflation trends will influence central bank policies and interest rates in 2025.
• Tech sector valuations are high, raising concerns about sustainability and future growth.
• Emerging markets present investment opportunities, but caution is advised due to varying economic conditions.
• Diversification across asset classes is crucial for investors in an uncertain global environment.

Get access to all our written content, tips & finance tricks HERE.

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In this episode, Warren Ingram and Michelle Green, Credit Analyst at Prescient, delve into the concept of ESG (Environmental, Social, and Governance) investing. They explore its significance in aligning investments with personal values, the interconnectedness of ESG factors, and the challenges posed by ESG ratings. They also addresses the future of ESG amidst skepticism and provide practical steps for investors looking to incorporate ESG principles into their investment strategies.


Takeaways

• ESG stands for Environmental, Social, and Governance factors.
• Investing with ESG principles can lead to more resilient companies.
• The interconnectedness of ESG factors is crucial for holistic evaluation.
• Critiques of ESG ratings highlight the need for transparency and accountability.
• Long-term focus is essential for successful ESG investing.
• Investors should align their objectives with their values when considering ESG.
• Research shows that sustainable investing can outperform traditional methods.
• Engagement with companies is more effective than divestment in driving change.
• Understanding the methodology behind ESG ratings is vital for informed investing.
• Seeking financial advice can enhance understanding and options in ESG investing.

Get more insight on how Prescient Investment Management can help you here.

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In today's episode Warren Ingram and Dr. Marc Rogatschnig explore the profound impact of fear on financial decision-making. They discuss how fear and anxiety can lead to irrational choices, particularly in the context of investments and money management. The discussion delves into the evolutionary roots of fear, the concept of hypervigilance, and practical strategies for managing fear to make more rational financial decisions.

Don't forget to grab a copy of Warren's new book, Small Changes for Big Results, here: https://bit.ly/4fPGmB4


Takeaways

• Fear significantly influences our financial behaviors.
• Understanding fear is crucial for better decision-making.
• Hyper vigilance can lead to irrational financial choices.
• Smart individuals may struggle more with fear-based decisions.
• Facing fears can help in overcoming them.
• Limiting exposure to negative influences is beneficial.
• Rational thinking is often compromised by fear.
• Asking positive questions can shift perspectives.
• Books provide deeper insights than fleeting news.
• Recognizing emotional triggers is key to managing fear.

Get more insight on how Prescient Investment Management can help you here.

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

In this weeks episode, Warren Ingram discusses the significance of tax-free savings accounts for children, emphasizing the long-term benefits of early contributions. He explains the mechanics of these accounts, including contribution limits and the importance of not withdrawing funds prematurely, and highlights the power of compounding growth with the potential for substantial wealth accumulation by the time the child reaches adulthood.

Takeaways

• It's a no brainer for parents to fund a tax-free savings account for children.
• Starting contributions early provides a significant growth advantage.
• The lifetime contribution limit is R 500,000, not the investment value.
• Withdrawals reduce the lifetime contribution limit, so avoid them unless necessary.
• Contributions can come from family members, not just parents.
• Setting up a tax-free savings account is easy for minors.
• Gifting contributions instead of material items can lead to financial freedom.
• Compounding growth can lead to substantial wealth by adulthood.
• Encouraging contributions from family can maximize benefits.
• Financial education is crucial for future generations.

For more valuable insights from the 10x team, click here.

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In this episode, Warren Ingram and Dr. Marc Rogatschnig delve into the complexities of imposter syndrome and its impact on financial behaviors. They explore how emotional spending can stem from low self-esteem and the need for external validation. The conversation emphasizes the importance of understanding the underlying motivations behind spending habits and offers strategies for overcoming these challenges through empathy and self-reflection.

Get your copy now: https://bit.ly/4fPGmB4

Takeaways

• Imposter syndrome is a common experience affecting many individuals.
• Behavior change is challenging and requires sustained effort.
• Material possessions can be used to boost self-worth, often unconsciously.
• Empathy is crucial when addressing spending behaviors.
• Rebuilding confidence is a journey, not a quick fix.
• Self-worth should come from within, not from external validation.
• Recognizing triggers for imposter syndrome can help in managing it.
• Social media can exacerbate feelings of inadequacy.
• It's important to acknowledge and accept one's imperfections.
• Having supportive conversations can lead to personal growth.

Get more insight on how Prescient Investment Management can help you here.

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

In this episode, Warren Ingram and Rupert Hare, Head of Multi-Asset at Prescient, discuss the significance of balanced funds in investment portfolios, particularly for retirement planning. They explore the structure of balanced funds, emphasizing their role in providing diversification across various asset classes. The discussion also covers the importance of understanding market volatility, the long-term focus required for successful investing, and the tax implications associated with balanced funds.

Takeaways

• Balanced funds are essential for most investors' portfolios.
• They provide diversification across various asset classes.
• Investors should expect market volatility with balanced funds.
• Long-term focus is crucial for successful investing.
• Tax efficiency is a significant advantage of balanced funds.
• Understanding the risk-return profile is vital for investors.
• Fees can significantly impact investment returns over time.
• Diversification helps mitigate risks associated with market fluctuations.
• Investors should not panic during short-term market downturns.
• A balanced approach is key to achieving retirement goals.

Get more insight on how Prescient Investment Management can help you here.

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

In this episode Warren Ingram answers your questions around investing, the importance of financial milestones, the strategic use of tax-free savings accounts and the significance of planning for children's education. Warren also delves into investment strategies, including risk tolerance, asset allocation, the advantages of global diversification and highlights the balance between index investing and active management.


Takeaways

• Paying off your bond is a significant milestone.
• Keeping your bond open can serve as an emergency fund.
• Maximizing tax-free savings is a smart financial strategy.
• Investing for children's education should be a long-term goal.
• Consider contributing to children's tax-free savings accounts.
• Investing 100% in shares can lead to long-term growth.
• Understanding risk tolerance is crucial for investment success.
• Global diversification is important for a balanced portfolio.
• Blending index investing with active management can optimize returns.
• Choosing investments with low fees is essential for maximizing growth.

Get more insight on how Prescient Investment Management can help you here.

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

In today's podcast, Warren Ingram answers your questions around importance of diversification in investing, particularly for young investors looking to build a global portfolio. Warren outlines strategies for offshore investment, including the use of feeder funds and the implications of currency exchange and capital gains tax. Warren also emphasizes the need for a balanced approach to investing, combining different vehicles such as unit trusts and exchange-traded funds, while also considering tax efficiency and growth potential.


Takeaways

• Diversification is crucial for long-term investment success.
• Investing a portion of your money overseas is essential.
• Feeder funds can simplify the process of offshore investing.
• Understanding tax implications is key to effective investing.
• Investing in index funds can reduce risk and increase returns.
• Start with foundational investments before considering individual shares.
• Monitor currency impacts on your investments.
• Utilize tax-free allowances to maximize growth.
• Plan your investments to minimize capital gains tax exposure.
• Maintain a balance between local and global investments.

Get more insight on how Prescient Investment Management can help you here.

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

In todays episode Warren Ingram discusses the complexities of investment fees, the importance of selecting the right funds, and how to evaluate the value of financial advisors. He emphasizes the need for transparency in fees, the significance of diversification, and the role of good advisors in making informed investment decisions.

Takeaways

• High investment product fees can be considered immoral.
• Consolidating investments can lead to lower fees and simpler management.
• Diversification in a small market like South Africa may not be effective.
• Good financial advisors can add significant value to your investment strategy.
• Performance fees should only be charged when funds perform well.
• Understanding the components of investment fees is crucial for investors.
• Investors should question their advisors about fund selections and fees.
• A certified financial planner is a key qualification to look for in an advisor.
• Transparency in fee structures is essential for trust in advisor relationships.
• Total investment costs should ideally be below 2.5% for good service.

Get more insight on how Prescient Investment Management can help you here.

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod