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Wealth Insights: Practice Does Not Make Perfect
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In this episode of Wealth Insights I'll disprove the common myth that practice makes perfect.
Comments
Hi Hannes. Thank you for video. However, I would like us to rework your figures as I think you are putting in a deliberate mistake to see if we are listening! On R100,000 it would only be the interest that would be taxable at 40%. Therefore R100,000 invested x 5yr x 10% = R161,051.00 and Interest(profit) taxed at 40% = R24,420.40 Tax. Therefore profit After Tax =R36,630.60. Now total sum AT (after tax) = R136,630.60 at 9% inflation = R88,800.51 PV. Correct? Thank you. Angus
If you are in 40% marginal rate tax bracket it means you must earn R166,666.67
You are going to pay 40% on the additional earnings.
This means you will pay (R166,666.67 X 40%) = R66,666,67 in additional income tax on the R166,666.67 that you earned additional. But you first have to earn and pay tax before you can invest.
This leaves you with R100,000.00 to invest
Investments like Unit Trust or endowment policies in SA are made with after tax
Hope this explains it better
Hi Hannes
I agree with you - practice does not make perfect.
Whatever you practice is makes PERMANENT! 
Hi Hannes
I agree with you, but one stupid question where do I invest?
Lets asume I have a R100 000 now what must I do?
Regards
Koos
Hey Hannes, thanks for the video. I never thought about it that way and it makes PERFECT sense what you are saying. Im getting on the conference right now.
Brilliant, brilliant, brilliant !!!! is all I can say!
You are the first person that have shown me what utter nonsense we believe throught our system of education!!
Yes it takes time to reprogram yourself so that the principals you teach can become second nature.
There are still so many people (just thinking about my immediate family and friends) out there that chooses to stick to what they have learned in the past, and think this is a conspiracy (using the term to hide behind, but not knowing that it is a true statement). As with so many things they use the term to group you into a group of uneducated crazies, not knowing that actually they are the ones that is stuck, and we are the ones that has been shown the light, and started the process to get out of this crazy matrix system with your help.
Hannes, again I can only thank you on behalf of myself, and all the people that at this point do not know that your are trying to help us all!
I sometimes wonder where I would have found myself (financial education) if it was not for your teachings.
You should really make more of these little youtube video's. They are short, sweet & VERY POWERFULL!
I really wish for you only success in what you do.
Thanks again
Regards
Thinus
Mozambique
Indeed practice makes perfect. It might not be the perfection you are looking for. If you practice very hard to fail you will most probably do it well.
All i can say is, the more i learn the more i realise how little i know. Thank you once again for the insights.
Hi Hannes,
Dit maak 100% sin. Ek kan nou verstaan hoekom ek in die verlede so baie gegeld gemors het op 'investments', want ek het dit so goed uitgedeel en aanhou doen!
Ek sien baie uit na die webinaar. Dankie vir die uitnodiging.
Groete
Colin
PS. Jou Engels raak nou flippen goed!