A road trip to financial freedom
Resources for the journey to financial freedom
The best tools, calculators, comparisons, influencers and useful material that I’ve come across on my journey to financial freedom.
Buy vs let calculator
A great buy vs let calculator when you can’t decide whether to buy your first property or continue renting. When scrolling down the page, you can see the full and transparent month-by-month wealth creation journey of the buyer vs the tenant. I tweak the "Investment strategy" expected portfolio return, adjusting it downwards from 12% to 9% to reflect a more realistic investment return after all fees and taxes.
Best interest rate
This is where I go when I need to find the best possible guaranteed interest rate for my mother, who is a conservative investor. I also use it for myself when I need to invest money for a specific use 1-3 years down the line.
Tax-free savings tool
Use this tax-free savings tool to find out how much tax you save when you choose a tax-free unit trust instead of a standard one. (M&G hasn't yet updated the annual tax-free contribution limit to R46,000 and their tax information is still using 2023 tax tables and the old capital gains tax threshold of R40,000 but for those investing up to R36,000 per year through a TFSA, the estimated tax saving is close enough.)
Tax calculators
This is a relatively new site by Walter, who is also the owner and creator of RateCompare. It answers the most common tax questions South Africans ask, and also has a few great interactive tax calculators.
Retirement tool
This is a simple but effective tool to calculate whether you’re saving enough for retirement. What I like about this tool is that it shows the two main drivers of your retirement age: 1) How much income will you need? And 2) how much of your salary are you saving now? If you're not saving enough, the tool will tell you how much to save instead, or by how much you would need to delay your retirement age.
Compound growth calculator
Allan Gray Investment Value Calculator
This calculator shows you what your account balance could be in the future, choosing return scenarios ranging from 7% to 10% net average annual growth after all fees. Make sure to also click on their "Find out how inflation affects the buying power of your money" in the results chart to see what that figure is worth in today's terms, accounting for the eroding effect of inflation.
Unit trust fund comparison
A comparison of unit trusts preferred by a selection of top financial advisers. Compare the funds in terms of the fees they charge, how they are rated by 3rd-party ratings agency Fundhouse and see which are the competitors in specific fund categories.
Everything ETFs
Simon Brown has been doing a phenomenal job over the years to introduce exchange traded funds - ETFs - to the public. Stay up to date with the latest developments at Just One Lap.
Free online money management course
A great collection of empowering courses by the Education team at Capitec: Budgeting; Debt management; How to master your credit card; How to grow your business; Money management for students; and many more courses available here.
Personal finance influencers
If you want to understand how the economy and international politics affect your portfolio, Investment strategist Izak Odendaal offers clear and insightful commentary on LinkedIn.
Essential reading for those near retirement or financial freedom. I am to a certain extent using his bond ladder strategy, but use 1- to 3-year fixed deposits instead of bonds to soften the blow of those years of negative equity market returns, especially while it's possible to lock in interest rates of 9-10%.
Mapalo Makhu is a South African personal finance expert, founder of Woman & Finance and the author of You're Not Broke; You're Pre-Rich.
This personal finance blog is by Maya Fisher-French, a veteran in investigating money issues relevant to South Africans.
Veterinarian turned financial adviser, Pieter Marx de Villiers, has a refreshing and authentic YouTube Channel covering a wide variety of personal finance and investment topics. Lots of practical information to help you make decisions.
Warren Ingram is an award-winning financial planner and the author of books like How to make your First Million and Become your own Financial Advisor. Expect a mix of entry-level and much more advanced personal finance material.
In the right-hand column of the Moneyweb main page there's a collection of useful articles by financial planners from across South Africa.
X / Twitter
I no longer use this platform, but for those who do, follow @mommy_moneyza and Ess Mukumbo @EMukumbo for daily tips on personal finance, stocks and long-term investing.
Financial coaching (paid)
Kim is a financial planner and established life coach who can shed some light on the blind spots we have in our relationship with money.
Paula did her coaching qualification through Soul Coaching International Institute, and runs her She Thrives programmes for women online, with highly complimentary feedback from her clients.
Samke Mhlongo partners with financial industry experts and institutions to provide financial literacy and coaching to beginners on their wealth journey. She also assists professionals in building their own personal brand.
Flat-fee independent financial planning
DoshGuide has a vetted list of independent financial advisors charging a flat monthly fee ranging from R1,000pm instead of lifelong commission tied to the value of your investment.