Plan To Retire

Everything to pay to others makes you their slave! The best book that I would strongly recommend is "The Richest Man in Babylon" by George S. Clason: Click on the image to access an audio reading of the book Here is a 7-minute summary: In essence, the following are the key points: Pay Yourself First Take Action  Wealth is not a Matter of Income  Act when the time is right   The POWER of Passive Income Pay Yourself First  First, take 10% from any income you obtain and place it in a separate bank account.  I recommend Capitec Bank Limited, as your bank costs are low and you can open 4 additional accounts that are linked to your main account.  Name it something like "Invest".  Then also take a further 10% and place it in another account that you call something like "Educate".  I also have two other sub-accounts, one called "Holiday" and the other "Emergency" or "Unplanned".  I save about R2000...

What did you learn at school? Mostly we learn at school how to a good employee or worker, to follow the system and not to make mistakes (to be safe by getting a job and the so-called job security and pension).  The system wants us to go to school, college or university to get skills for a job so that we give our hours to receive a monthly paycheck.   We a re taught to buy into the 40-40-40 Plan:  The 40-40-40 plan . It simply means," work on a JOB, 40 hours a week for 40 years and retire on 40% of your  BASIC  salary".  Sounds familiar?   What should we be taught? The problem is that our jobs definitely are not secure and there is an unemployment rate of more than 50% in South Africa.  Furthermore, our state pensions are earmarked to be used to finance our dysfunctional and bankrupt SOE's (State Owned Enterprises) and probably the new National Health Insurance (NHI) planned for South Africa. We need to be taught about...