Insights with Thopi Mhloli: Savings and Investments

Though saving can be very hard for many of us, the current economic environment has the potential to enable a new generation of investors. Many South Africans are putting money away as they look to protect themselves against future financial shock events and take advantage of high interest rates, which are pushing the yields on saving and investment accounts higher.

Thopi Mhloli, Product Owner: Savings and Investments at Standard Bank, gave a series of radio interviews in which she discusses the basics of investing and what South Africans should consider when planning their financial future.

Investment accounts, such as the Standard Bank MoneyMarket Select investment account, offer South Africans an opportunity to leverage current interest rates to build their wealth. MoneyMarket Select account holders enjoy up to 8.8% interest, one of the highest rates in the market, which ensures they get out more than what they put in. This vehicle not only offers excellent capital growth but is suitable for both long- or short-term goals as it offers access to your money at any time and guarantees your initial capital investment.

There are three things to consider when investing:

• Diversify your portfolio: The goal with any fund is to minimise your exposure or the potential for risk. Diversification limits the amount of risk to your money.
• Save money when changing employment: Changing jobs can lead to a lot of uncertainty and plans can change on a dime. Preserving money lets you attract interest while also giving you a guarantee against any unforeseen circumstances.
• Don’t let emotions influence your decision-making: Oftentimes, how we feel in the moment can prevent us from thinking straight or seeing the bigger picture. The best financial decisions are the ones made with a clear and focused mind.

At the end of the day, your money must work for you. By aligning your investments with your ambitions, you set yourself up for success. As Thopi explains, your investment is the tool with which you achieve your financial goals.

To find out more about how you can invest in your future wisely, click here to listen to Thopi’s interviews.