Starting to invest at 70 with success

*This content is brought to you by Sanlam iTrade.

An iTrade investor proves that you are never too old to start investing yourself, but why wait?

#TradeMyWay Starting at 70I farmed in the bushveld and had a red brahman Stud. When I was 70 years old, I realised I will have to do something to provide for when I no longer can farm because with 6% interest being lower than inflation, I would not make it.

I read on the internet about Sanlam iTrade. I downloaded the demo program and started playing with shares on the JSE. I went from Nietverdiend to Bloemfontein to attend an Afrikaans presentation of Sanlam iTrade which Gerhard Lampen and Alwyn van der Merwe presented. I learned a lot there.

After six months I started trading with real money on the JSE. I started with R50 000. It went well and my investment quickly grew to R80 000. When I was 80 I sold my Stud. I added money to invest on my portfolio and also in a different portfolio that is managed by Sanlam iTrade. Although the past two years was not very favourable, my investments did much better than the money I invested in deposits. This despite the fact that I lost a lot of money with African Bank and Steinhoff.

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MayaonMoney is partnering with Sanlam iTrade to encourage readers and investors to share their inspiring trading stories with #TradeMyWay. If your story is selected for publication, you will receive R2 000 in cash, and the overall winning story will win an extra R3 000 cash.

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I also made many mistakes, otherwise it could have looked even better. For example, I bought Merafe for 67c. When it was 95c, I thought it had reached its top and I sold. After that, the share increased to 145c. I also bought Supergroup for 367c and when it was 1600c I sold, the price subsequently rose to more than 4000c.

I am not able to analyze companies’ financial statements, but I rely on the information that I receive daily from Sanlam iTrade. I believe that if one starts early in your life trading in shares, you are better able to provide for your retirement than by way of endowment policies and annuities.

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