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11 Jun 2014

INVESTING IN YOUR 20S

Investing in your 20s and paying up debts by an actor:

Hey there!
I'm a 22 year old, South African actress. No wheels, still living with the parents. And I can't afford my acting lifestyle i.e going to auditions, and living off one freelance job to the next. So I took the broad leap of faith and got myself a "proper" job, well in this case its just a well paying job. I've always been a planner. So I've set a goal so that I can save up enough for wheels. But I'm afraid that my growing living costs are going to come and bite me in the behind when all this is done. My question is:
Where can I invest so that I can attain my goal to buy my vehicle cash and not live on nothing once my steady jobs sees its end? 
Also when is a right time/age to start investing in property, as I see your blogs favouring the returns of such an asset.
Like I know I didn't choose the worlds best career but I want to be able to enjoy my acting without dying of starvation, and don't want to spend my life sponging off of my parent's.
Regards
-Concerned 20 year old actress.
Hi B
Its good that you have supportive parents at the time of need. I also like that you don't want to take advantage of their kindness. Regarding your questions:
1. I would advise my 22 year old self to look into the ETFs. Its such a nice high return type of investment and a foot in the JSE door. It works very well for my son. Please refer to the article on the Exchange Traded Funds.
2. The time and age is always right to start investing in any sector. What can stop you is not qualifying for a homeloan/ bond because of the strict National Credit Act law. If you do qualify for a loan I think you can start immediately. Just buy in a good area with good jobs. You need paying tenants.

All the best with your investment endeavours.

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