If you were in a bar and someone you’d never met asked for your number, what would you do? Well, if you were at the Fat Wallet 100th podcast celebration, and the person asking the question was Just One Lap’s Kristia van Heerden, you’d get out your phone… and launch the calculator app to work it out.
A group of serious investors gathered at Higher Ground in Sandton on 16 May 2018 for the celebration, which was hosted by CN&CO partner, OUTvest. For the most part, the conversation centred around returns, fees, dividends, spreads and other investor geek-speak. It was fascinating to be in the company of so many people who are passionate about investment.
Talking of numbers and money tricks, here’s one that really caught our attention. It was bought up during a discussion around how much you should have accumulated in order to enjoy a “comfortable” retirement. Take the total value of your expenses each month and multiply that by 300. That gives you quite a LARGE number and it is rather sobering to think that you will still need to adjust this figure slightly to account for inflation. So best we all get investing and trying to reduce our monthly spending sprees. Although remember that you should still live a little.
There was plenty of financial advice on offer. It’s not often that you get some of the biggest fintech nerds around all in one room! Sam Beckbessinger is one of those nerds (she has even written a book about it). Having flown in from Cape Town to co-host the podcast recording with Kristia, Sam gave us some advice around budgeting, including this gem: “Don’t over-budget. You should have only three items in your budget: your bills, your investments, and a fuckaround fund.”
If you want more of Sam’s advice you can check out her book “Manage Your Money like a F*cking Grown Up: The Best Money Advice You Never Got”.
All in all, a fantastic evening chatting fintech, financial advice, robo-advisors (check out OUTvest), budgeting and how much you should be looking to put away for your retirement. Congratulations to the Just One Lap team for the work they are doing in the financial education space in South Africa and we look forward to seeing where the next 100 podcasts lead.