The Easiest Way to Become A Millionaire in South Africa; Tax-Free! скачать в хорошем качестве

The Easiest Way to Become A Millionaire in South Africa; Tax-Free!

Tax-Free Savings Accounts are one of the most powerful (and misunderstood) investment tools in South Africa — so in this video, I’m answering the questions I get asked all the time about TFSAs. Figures are from Satrix. I asked them to illustrate the growth if a person maximised their TFSA every year since inception 10 years ago (1 March 2015-28 February 2025) Total contributions would have been R330 000 – if you invested in cash you would have R470 000 (4.3%), if you invested in JSE Top 40 it would be R588k (8%), MSCI world index nearly R800k (14%) and S&P 500 R916k (17%). We cover: • What a Tax-Free Savings Account actually is • How much you can contribute (and what happens if you go over) • Whether a TFSA is a savings account or an investment • When you should (and shouldn’t) withdraw your money • Common TFSA mistakes that can cost you in the long run • How to use a TFSA for long-term wealth, not short-term stress If you’ve ever wondered whether a TFSA is worth it, how to start, or if you’ve already “messed it up” — this video is for you. 🔐 TIMESTAMPS: 00:00 - Intro 01:00- What is a Tax-Free Savings Account (TFSA) 04:13 - How much can I contribute to a TFSA each year? 07:15 - Can I have more than one TFSA? 08:23 - How will I know if I’ve maxed out or about to max out my TFSA 08:57 - Who should I open my TFSA with? 09:14 - Is a TFSA the same as a normal savings account? 10:20 - Can I withdraw money from my TFSA at any time? 15:55 - Asset managers 24:53 - Can I open a TFSA for my child?