April Newsletter
Live like there is a tomorrow!
Putting off investing can cost you more than you think. That’s because you lose out on the most potent factor of investing; compounding growth. Its ability to transform your financial future is so powerful that Albert Einstein referred to it as “the greatest invention of all time”.
Compound interest is one of the investor’s best allies. To illustrate the power of compound interest let’s look at the following example:
| 10 years | 20 years | 30 years | 40 years |
R10,000 at 15 % per annum compounded annually | R40,455 | R163,665 | R662,117 | R2,678,635 |
R10,000 at 20% per annum compounded annually | R61,917 | R383,376 | R2,373,763 | R14,697,715 |
Parents and grandparents should consider investing a lump sum for their children and grandchildren! The combination of consistent long-term performance and the power of compounding could make the world of difference to their lives!
Regulatory Examinations
The Financial and Intermediary Services Act, Act No 37 of 2002 was amended by Board Notice 106 published in Government Gazette 31514 on 15th October 2008. The amendment introduced regulatory examinations that all Financial Service Provider’s are required to write and pass before 31st December 2011 irrespective of any formal qualifications.
The first examination is for Sole Proprietors and Key Individuals. A key individual is the person that manages and overseas the business. Kevin Mills successfully completed the First Level Regulatory Examination: FSPs (sole proprietors) and Key Individuals in Category I, II, IIA, III and IV.
The second examination is for Representatives. A representative is any person that renders financial advice and intermediary services. Kevin Mills successfully completed the First Level Regulatory Examination: Representatives.
