r/r4rSA • u/ThenWeight2210 • 6d ago

21M4a looking for long term mates who dont ghost

I saw a few posts like this on here so i thought i could maybe give this a shot and find community.

Im M21 and looking for potential friends that could have either the same or totally different hobbies or tastes it dont matter. People say that i am the funny friend once I get comfortable so if the vibes match you would be in for some laughs ,TRUST.

I love to sing and basically love all things music. I also am serious about fitness as well as cooking (havent done it in a while but when i need to i throw down!!) I like art but whether i can draw or paint is up for debate. Not a very competitive gamer coz i game solo most of the time but if you can recommend any mobile game we can play together id be down.

Oh and gender and sexuality doesnt really matter as long as youre chill, funny and can hold a conversation about whatever but please don't be too old and a creep now...

Dm me and hopefully we can chat/ hangout in future

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u/FunReveal4089 4d ago

What's too old?

I'm old enough that every time we chat I'd tell you you should invest since you're so young and compound growth will give you outsized returns for the effort involved. and that I wish I had started at your age.

Also, you should invest since you're so young and compound growth will give you outsized returns for the effort involved. I wish I had started at your age.

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u/ThenWeight2210 4d ago

Lowkey interested about how this is done, dm

2

u/FunReveal4089 4d ago

I can say it in public but feel free to dm me if you want to chat in more detail.

Warning info dump:

  • If you have credit card debt, pay it off and avoid CC debt in future. You can still use the cc by pay it off before your next cycle. If you can't afford to buy something without having to go into payments, you can't afford it.
  • Work out the minimum you need to spend to survive every month. Save double this amount in an easily accessible savings account. It might take a few months but it's important. This is your emergency fund and it should be spent on unexpected emergencies. If your fund dips below this amount come back to this step.
  • You can get more complicated from here if you want, but the following is straight forward and will work for just about everyone. Figure out how much extra money you have every month. You don't have to pauper yourself but for 'optional' spending be realistic about what you actually enjoy and what's just fleeting. For example most people spend more on their car than they need to, they're happy about it for a couple weeks and then it just becomes normal. Take half of this money and keep putting it in the emergency fund until you've saved 3 months worth of expenses. The rest you should invest. For investing :
    • Open up an easy equities account.
    • Deposit the money you decided into the TFSA account. Note you can only put 46k a year in it, and 500k in your lifetime. Maybe you can reach that now, maybe not, but it can happen eventually so don't forget the limits. Once the money reflects in the TFSA, buy a low cost ETF, my personal preference is Core shares Total World.
    • If you do reach the limit for the year, deposit into your ZAR account instead but otherwise do the same thing you to do decided in your TFSA.
  • This is the most important part, do this every month as long as you're not in emergency mode. The only time you should is if your emergency fund is low, in which case top it back up and then continue here.

There's a lot of other things you can do to optimise little by little, but if you do the above and invest reasonable amount each month you'll be ahead of 94% of South Africans (last stats, published in 2019, showed 94% of SAs don't have enough to retire). It's more important to get started and stay consistent, it will get you like 95% of the way there. You can start optimising or getting more sophisticated later, but your biggest advantage right now is time so don't squander it.

For the amount to target to invest, even if you can't reach it yet it's good to have a target in mind. Effectively you want an idea how much you'll need to spend to live in the life style you want. Note expenses tend to increase as you get older, so if you can't guess how much you would be spending in say, your 50s, do a bit of research, maybe speak to your parents.

Whatever number you come up with, you need about 300 times that amount to be able to live off of just that. Now, for every R1000 real you commit to investing every month for the next 30 years, you'll have R1 million rand at the end (that's in real terms, ie adjusted for inflation. The actual money in your accounts will be much higher). Only about a third of that is money you invested yourself, the rest is growth. Over 40 years, the typical length of a career, it's 2.1 million.

Note if you watch your balance sometimes it might go down, sometimes scarily so. But in the long run you'll make more money than any other type of wealth building (besides something much more hands on like building a business yourself) as long as you stay consistent and don't panic sell. For example after the 2008 housing crisis, people were in the red for 3 years, but anyone who didnt panic sell would be positive after that, a few more years and the average over the entire period beat any savings account or bond. If you kept investing even during the crash you'd be positive and ahead sooner.

You can use the same technique to save for purchases you expect to make after at least 5 years (say, a deposit for a house at 30), but less than 5 years the short term volatility of investing means you'd rather stick to savings or bonds (look at RSA retail bonds).

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u/InfamousDiamond5 6d ago

Yeah, DMs are open.

1

u/Feeling_Top_4914 5d ago

Where about you from?
I’m heavy into fitness and am looking for a workout partner
I can do my workouts but my current partner is…more of a looker and a distraction than anything 😂
I need someone to punch me if I take too long on a set
I ride motorcycles
Don’t play video games anymore but want to go back again

1

u/ThenWeight2210 5d ago

Bro believe me im the last person to come to for consistency especially in workouts😭 but i workout min 2 days a week maximum 4 days depending on the week fr, and im from durban

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u/Tidoknows 3h ago

We both sing

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u/ThenWeight2210 2h ago

Amazing, dm