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PODCAST

The Fat Wallet Show from Just One Lap

The Fat Wallet Show is a show about questions. It"s about admitting that we don"t know everything, but that we"re willing to learn. Most of all, it"s about understanding as much as we can to make us all better investors. Phrases like, "I"m not sure" or, "Let me look that up and get back to you" or, "I don"t know" don"t exist in the financial services industry. If you ever had a financial question you were too embarrassed to ask, you know what we"re talking about. In this business, appearances

education investing

All Episodes

01:05:39

The diversification dilemma (#146)

The Fat Wallet Show from Just One Lap ·

2019/05/05

Diversification is an important part of risk management in a portfolio. Unfortunately, as with all things finance, there’s no simple diversification solution. This week, we address two diversification concerns: being too diversified and not being diversified enough. In my own portfolio, I pay attention to three diversification criteria, namely assets, regions and sectors. Since I want my portfolio to grow as much as possible, I prefer equities as an asset class. I don’t diversify this much, since I

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56:05

Using debt to your advantage (#145)

The Fat Wallet Show from Just One Lap ·

2019/04/28

I’ve only ever known debt as the wrathful destroyer of wealth and happiness. Lately, however, I’ve come to realise debt can be a powerful tool in your financial arsenal - if you treat it with respect. Someone recently explained the logic behind maxing out his child’s tax-free account instead of saving for her education. If a single year’s tax-free contribution can cover much of your child’s living expenses in retirement, imagine what 15 years’ worth can do. Giving a tax-free account time to grow

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01:00:50

How to set portfolio up for financial freedom (#144)

The Fat Wallet Show from Just One Lap ·

2019/04/21

I learned a lot of important financial concepts from the FIRE (financially independent, retire early) movement. The most useful is the difference between retirement and financial independence. The days of companies supporting retired employees in retirement are a distant memory. If you are plugged in to your finances, this is great news. It means there’s no correlation between your age and how long you have to work. We focus instead on financial independence. All of us have a magic money number. The

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01:05:02

Help! I made a bad investment (#143)

The Fat Wallet Show from Just One Lap ·

2019/04/14

I apologise to Four Cousins for saying they probably add bubbles using a SodaStream machine. I've learned my lesson and vow to buy a bottle should I see one in store. Investing in listed companies is a great way to learn about investment risk. It teaches us that sometimes the market isn’t rewarding at all and that individual shares can do better or worse than the average. We also accept that bad market periods are generally followed by periods of growth. We develop respect for the fact that no

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01:03:43

Money and sickness (#142)

The Fat Wallet Show from Just One Lap ·

2019/04/07

Money is inextricably linked to every aspect of our lives. Every milestone and setback is either helped or hindered by our financial situation. When we plan for life events like weddings, babies, retirement or death, we also think about their financial impact. Most of us fall short in planning for things we don’t like thinking about. When our nightmares become a reality, the last thing we want to worry about is money. This is normally what insurance is for. Sadly the insurance industry is a flakey

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01:01:11

How to think about dividends (#141)

The Fat Wallet Show from Just One Lap ·

2019/03/31

When you’re just starting out on your investment journey, dividends seem like much ado about nothing. That’s because dividends get paid per share. If you don’t have many of those, dividend amounts can be laughably small. It’s hard to get excited about R25. However, long-time rich-ass shareholders will tell you dividends become way more fun the longer you invest. It’s a good idea to have your dividend strategy in place while you’re only getting a R25 twice a year. In this episode, we share some

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53:03

Tax-free vs education (#140)

The Fat Wallet Show from Just One Lap ·

2019/03/24

The tax-free investment case is so appealing, it’s almost always a good idea to do your tax-free investing before anything else. Even fancy algorithms like this one finds that. Sadly, life happens to our money and a full tax-free allocation isn’t always possible. This week, we help a father of four figure out how to balance his educational priorities with his tax-free allocations. The good news is there’s no one right answer. You have many options, including pausing your tax-free contributions and

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59:14

Life insurance as inheritance (#139)

The Fat Wallet Show from Just One Lap ·

2019/03/17

This is not the first time I’ve heard people buying insurance products to leave money to loved ones who aren’t financially dependent. In cases of premature death, it’s genius (aside from the dying). However, insurance companies are money printing machines because they understand how to harness probability. When you take out a life insurance policy, the insurance company works out how many years of contributions they’re likely to get from you before you hop off your mortal coil. They do with your

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01:07:26

What the fee?! ~ #138

The Fat Wallet Show from Just One Lap ·

2019/03/10

Survivors of a battle with the Debt Monster already got a nasty introduction to the world of fees. A combination of account fees and interest on debt will leave you poorer every time. This baptism of fire may have been unpleasant, but it’s not a lesson you’re soon to forget. Those most vulnerable to the wealth-destroying effect of fees are those new to the financial world. When you don’t have much money and a brush with debt hasn’t yet alerted you to the grimy side of the financial system, a 1% fee

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01:00:33

#137: Rand cost averaging

The Fat Wallet Show from Just One Lap ·

2019/03/03

Tax rebates, bonuses and inheritances really throw us for a loop. Most of us have every cent of our salary allocated to some higher purpose, but the moment we find ourselves with a big hunk of cash, we get in our own heads. We all know what we should do with the money, except because this is magical unicorn money we don’t. We get questions about lump sum investments so often that we decided it’s time to devote an entire episode to it. In short: the math says invest it all at once as soon as

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01:02:52

#136: Where are my tax-free returns?

The Fat Wallet Show from Just One Lap ·

2019/02/24

The longer we do this, the more evidence we find in favour of doing tax-free investments before any other kind of investing. To do that, you need to understand why paying no tax makes a huge difference to how much money you end up with. You also need to understand that there’s a difference between tax-free accounts and ordinary investment accounts. Lastly, you need to know why it’s important to buy an investment product within a tax-free investment account. This week’s episode of The Fat Wallet Show

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54:04

#135: The right time to buy and sell

The Fat Wallet Show from Just One Lap ·

2019/02/17

This community is all about not leaving money on the table. Buying and selling shares at the right time can have a long-term impact on the performance of your portfolio. This week we discuss two questions relating to timing buying and selling shares and ETFs. Win of the week: Mukhtaar, for solving the tax on REIT issue. In the latest podcast there was a question whether listed property distributions are treated as interest income or taxed as normal income. I can confirm that it is taxed as normal

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01:00:04

#134: Should I know how to trade?

The Fat Wallet Show from Just One Lap ·

2019/02/10

I’m often curious about the finances of people who want to take on some alternative way of making money in financial markets - be it trading or Bitcoin. More often than not, people who are convinced that a single asset or event will solve all their problems don’t yet have solid a financial foundation. Similarly, people who do have a strong handle on their finances tend to favour simplicity, as this interview with Patrick McKay illustrates. Just One Lap had its origins as a trading education

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01:04:06

Bonus: ETF: Wild and tax-free

The Fat Wallet Show from Just One Lap ·

2019/02/05

For us money nerds, February is not the month of love, but the Hallowed Month of Tax. What’s the best kind of tax, you wonder? The kind you don’t ever have to pay! In this bonus podcast, Wild and Tax-Free, we get some friends together to chat all things tax-free savings. Joining us in is Njabulo Nsibande, FIRE-man Patrick McKay, aspiring FIRE-man Stealthy Wealth and EasyEquities superstar Carly Barnes. Remember to join us for our annual tax-free presentation at the JSE here.

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01:01:45

#133: Starting over

The Fat Wallet Show from Just One Lap ·

2019/02/03

Since talking about money is my day job, it’s easy to assume that I have no financial anxieties. That’s not the case. Money speaks to such a primal part of our humanity. I think everyone is susceptible to a degree of fear around their ability to meet the basic needs of themselves and their families. Making big lifestyle changes always results in massive financial anxiety for me. Buying a house - a lifestyle decision whose financial implications I always distrusted - had me on tenterhooks. Instead

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01:08:33

#132: Making the most of tax February

The Fat Wallet Show from Just One Lap ·

2019/01/27

Tax is probably the only thing I managed to get right about my finances when I first started working. I had no idea what was going on, but I was sufficiently scared of the government to pay someone else to deal with it. The R800 rebate I got that year might as well have been a million bucks. I didn’t understand at the time why I was getting the money, but I was happy to roll with it. If you’ve never filled out a tax return form, this is the tax year to start. If you’re worried that you left it too

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01:07:50

#131: Money vs education

The Fat Wallet Show from Just One Lap ·

2019/01/20

Education is a tough nut to crack. It’s an investment, to be sure, but just like any other investment, the rewards need to outweigh the risks. Unlike other investments, however, risk and reward are extremely difficult to measure in education. Private school kids could be doing better later in life because of their education or because they come from wealthy families that have access to everything from better nutrition to more free time. Parents will spare no expense to give their kids whatever they

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59:51

#130: Assumptions we need to challenge after 2018

The Fat Wallet Show from Just One Lap ·

2018/12/16

That’s a wrap, folks! 2018 had a lot to teach us and none of it pleasant. In this episode Simon and I talk about some of the assumptions we have to challenge after this year. Mine borders on cynical: doing things by the book doesn’t always get you ahead. Nothing like buying a house to bring that idea home (if you’ll pardon the pun). At least we had an excellent time putting together The Fat Wallet Show. We can’t thank you enough for your support. Happy holidays! Here’s a link to Herman’s algorithm

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55:05

#129: Is my bank right for me?

The Fat Wallet Show from Just One Lap ·

2018/12/09

In finance, more options are always better. The more competition there is, the lower prices tend to go. With three new banks entering the market, we are sure to see banking costs come down. Is that reason enough to change banks? In this episode of The Fat Wallet Show, we consider when it’s a good idea to change banks and when it’s best to just stay put. We also spend some time talking about reward-driven costing. Rakhee I'm in the process of optimising costs. What bank do you suggest for daily

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01:03:24

#128: How to use your tax-free account

The Fat Wallet Show from Just One Lap ·

2018/12/02

Save Squack's life! While the term “tax-free savings account” makes it seem like it’s a savings product, you shouldn’t think of them as savings accounts at all. There’s nothing to be done about the confusing name, but this week we explain why we shouldn’t use them to save cash. If you are under 65, the first R23,800 you earn in interest every year is exempt from tax. This is one of those little SARS gifts we really love. If your bank or savings vehicle offers you 6.75% in interest every year, you

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