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Johannesburg - Are you planning to embark on your savings and investments journey?
What are your savings needs? Do you still want access to your savings and what is your savings appetite?
These are the three most crucial questions you need to ask yourself, according to FNB Savings & Investments COO Francois Thiart.
1. What is your savings and investments need?
"This is a very important question for everybody to ask ... for the person with R100 up to the investor with their millions," said Thiart.
He said that everybody needs to understand their savings and investment needs and these could vary from saving for an emergency, for education or even retirement.
2. How would you like to access your money in the future?
It is critical that you get this right because choosing the savings vehicle could leave consumers in a tight spot.
Thiart cautioned: "You can end up binding yourself and your funds for an unwanted period if you do not make the right decision here."
He said FNB broadly has four options for clients to choose from. They can access their funds immediately, with notice, after a fixed period or a portion of the funds only.
3. How much risk appetite do you have?
Thiart said that research conducted by FNB found that most savers have a very low appetite for risk.
"This means that people want to protect their funds from potential risk and at least have their capital guaranteed."
This combined with the drive for no fees cover the top requirements for potential savers.
"The last step in this process would be to match the correct product with your needs," advised Thiart.
Watch:
If you feel you have more questions or you want someone to guide you through this process, you can contact FNB for no fee, no obligation advice, support and information.
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Consider yourself a savings hero? Or just have something on your mind? Add your voice to our Savings Issue:
* Write a guest post
* Share a personal story
* Ask the experts
What are your savings needs? Do you still want access to your savings and what is your savings appetite?
These are the three most crucial questions you need to ask yourself, according to FNB Savings & Investments COO Francois Thiart.
1. What is your savings and investments need?
"This is a very important question for everybody to ask ... for the person with R100 up to the investor with their millions," said Thiart.
He said that everybody needs to understand their savings and investment needs and these could vary from saving for an emergency, for education or even retirement.
2. How would you like to access your money in the future?
It is critical that you get this right because choosing the savings vehicle could leave consumers in a tight spot.
Thiart cautioned: "You can end up binding yourself and your funds for an unwanted period if you do not make the right decision here."
He said FNB broadly has four options for clients to choose from. They can access their funds immediately, with notice, after a fixed period or a portion of the funds only.
3. How much risk appetite do you have?
Thiart said that research conducted by FNB found that most savers have a very low appetite for risk.
"This means that people want to protect their funds from potential risk and at least have their capital guaranteed."
This combined with the drive for no fees cover the top requirements for potential savers.
"The last step in this process would be to match the correct product with your needs," advised Thiart.
Watch:
If you feel you have more questions or you want someone to guide you through this process, you can contact FNB for no fee, no obligation advice, support and information.
- Sponsored
Consider yourself a savings hero? Or just have something on your mind? Add your voice to our Savings Issue:
* Write a guest post
* Share a personal story
* Ask the experts
