I heard an advert on the radio last night for Nedbank’s new “Park-it Limited Edition Investment account”…seems that if you give them R10000, they will give you up to 6.25%* interest per annum and after the first 14 days you can have access to your funds with 24 hour notice. There are at least 2 problems with this… “Up to” 6.25% (turns out you need to invest R1million to get this rate –...

Following on from the first post on RSA Retail Bonds, I received a reply from the communications manager at National Treasury who referred me to 2 more people and I finally received a 10 page summary on the bonds. The first section is titled “How to invest” and answers the questions we had but is unfortunately not available on the website (yet)! Turns out though, that if you want to invest via the website you need to...

There is an old song where the lyrics went something like this “the chances of anything coming from Mars are a million to one, but still they come!” At least the odds were better than the chance of you winning the lotto in SA where your odds are one in 13 983 816 (or 0.000000072%)*. Let’s put this in perspective: if there are 2 draws per week (104 per year) then you would need to play the lotto every draw for 134459 years to have...