Die nuusbrief en artikels is in Afrikaans op ons webtuiste beskikbaar.
18 January 2012
Economic updates
We would like to wish all our customers a very happy New Year!
We hope that you begin this year rested, restored and ready to take on
the opportunities and challenges of 2012.
The beginning of a new year is always a good time to review
where we are coming from and what we would like to achieve in the year
ahead.
With this in mind, I want to share a parable from The Richest
Man in Babylon by George S. Clason. Arkad, the richest man in Babylon,
argues that the key to riches is to save one-tenth of all that you earn,
but he has to convince his audience to save.
He uses this analogy: if you have a basket and each morning you
put ten eggs into it and in the evening you take out nine eggs, what
will eventually happen? The basket in time will overflow. If you save a
tenth of your income, so will your purse overflow.
Of course the men argue with him that it is impossible to save a
tenth of their income as they have so many financial commitments. Arkad
simply contends that if the person standing next to you earns less than
you do, how are they able to survive each month? The truth is that
"what each of us calls our 'necessary expenses' will always grow to
equal our incomes unless we protest to the contrary."
Think back to when you earned your first pay cheque and compare
your spending then what you spend today. How much of that spending is
really "necessary" and how much has simply been a result of having more
money? Whether you save or not, at the end of the month you will still
have no money in your wallet. But at least if you have saved, your empty
wallet will not be a crisis and you will be on your way to creating
real wealth.
Kind regards
Steven Braudo
Chief Executive Officer: Liberty Retail SA
Seven cures for a lean purse
The Richest Man in Babylon is filled with parables in which a rich man shares his knowledge with the people of Babylon. The book lays out simple truths about acquiring money, keeping money and making money earn more money. Discover the seven secrets to creating wealth.
Economic Updates
Will they, won't they?
South Africa's economic outlook remains heavily dependent on the global economy and whether the credit crisis in Europe and America can be resolved. There is still a great deal of uncertainty and no-one is taking any bets on what 2012 will bring.
Read: A Year Ahead
Extra Information
Weekly economic updates
The Weekly Focus is a commentary on markets, economic
and investments prepared by Paul Hansen and Kevin Lings of STANLIB. You
can read the latest developments every Tuesday by following the link on www.liberty.co.za.
Investment portfolio updates
Investment portfolios offered by Liberty: performance, risk profiles, asset allocation. Click here.
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