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- 🥊DIY vs Financial Advisor: Choose your Champion
🥊DIY vs Financial Advisor: Choose your Champion
PLUS: Woordfees pumping, just like stocks!
MoneyMoves
October 17, 2024
When managing your investments, you can generally take three approaches: doing it yourself (DIY), working with a financial advisor, or combining the two. Which one is best for you? Let’s break it down!
DIY Method
Pros:
Learning by Doing: You'll upskill yourself through hands-on experience.
Fun Factor: Picking stocks or dabbling in crypto can be exhilarating!
No Fees: No advisory fees; instead, you invest your own time and effort.
Cons:
Lack of Professional Expertise: Mistakes are more likely.
Stressful: Managing your own money can be stressful.
Your Time Costs: Even though there are no direct fees, your time is valuable.
Want to DIY? Sign up to EasyEquities to get started.
Financial Advisor
Pros:
Trusted Expertise: Advisors are trained professionals who understand complex financial products, asset allocation, insurance, tax planning, etc.
Financial Soundboard: They can help you with things such as renting vs buying, debt repayment strategies, property structures, and arbitrage.
Free up time and stress
Cons:
Performance Not Guaranteed: Just because you have a professional managing your portfolio doesn’t mean they’ll outperform the market.
Fees: Some advisors charge exuberant fees.
Lack of Personal Connection: Some investors feel their advisor may not fully understand their unique financial goals or personal circumstances.
Want to chat with an advisor? Let’s do it! Reach out via this link:
The Best Approach?
DIY: Although it can be fun, DIY investors tend to underperform the market, not to mention the time commitment and financial stress it can cause.
Hybrid: Many people like to dabble on their own while still benefiting from professional advice. Platforms like EasyEquities make it easy to have a little fun with your own stock portfolio. However, for serious, long-term planning, a trusted advisor is invaluable.
Advisor: As in any profession, there are great, mediocre, and poor advisors. The key is to find an excellent financial advisor and an excellent tax specialist. Pay them well—their strategic advice and insights will far outweigh the cost, providing peace of mind and helping you build wealth over time.
Woordfees 2024 — It was Fantastic!
Thank you everyone for the wonderful support. The turnout was above expectations and the feedback was fantastic. We’ll see you in 2025, no doubt about it. Herewith a 15-second clip to see what you missed:
Season 1 Done & Dusted 🎬
Season 1 comes to an end with our last episode: DIY vs Financial Advisor. We’ll be back, better and bigger in February 2025 with more banger episodes for Season 2. Herewith the full episode list for Season1:
Season1 Topics |
|---|
1. What is a TFSA and how can I use it to my advantage? |
2. Can you explain the different types of investments? |
3. I hear people are making money with Arbitrage. What is it? |
4. Debt: Is it good or bad? |
5. Life insurance - should I get it and why? |
6. How to approach the new 2-pot retirement system |
7. How big of a deal is compound interest? |
8. Interest rates down, stock market up! |
9. Should I go the DIY route or use a financial advisor? |
Who are we?😎
 The Knowledge Chest | Paul holds an Honours degree in Financial Analysis from Stellenbosch University. With a career spanning investing, accounting, and education, Paul is committed to becoming the best financial planner in South Africa. Despite his many accolades, Paul insists that his greatest achievement is that he is dating a yoga teacher. |
 The Anchor | Ingrid holds a BA Honours in Journalism from Stellenbosch University. She is a self-diagnosed workaholic, excelling in various roles such as marketing, publicity, social media, and strategic partnerships. Ingrid's commitment to promoting wellness and balance extends beyond her professional endeavours, as she is also an avid yoga teacher. |
 The Magic Maker | Alwin holds a BCom in Business Management from Stellenbosch University. Alwin has a unique ability to make things happen - if you need something done, he’s your man! Alwin currently works in the alumni office at the university, connecting past and present Maties and ensuring a brighter future for the youth. |
Our Offering🎖️
We have extended our value offering to four key pillars:
Investments
Insurance
Arbitrage
MoneyMoves
If you’re looking for someone to chat about your finances, feel free to reach out. We’re here to help.
MoneyMoves - Where We Make Your Money Move For You!
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