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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

01:05:24

Keeping your living expenses low (#166)

The Fat Wallet Show from Just One Lap ·

2019/09/22

The downside to doing my job is that I don’t get many opportunities to talk about my own financial insecurities. As with most things, there’s a distance between theory and implementation. I have my bad habits and anxieties around money as much as the next person. Billy’s question around minimalism and frugality gave me an opportunity to talk about some of the things with which I struggle. An ever-present challenge is finding a balance between spending and saving. I’m always too far in either camp

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01:06:29

How to think about risk (#165)

The Fat Wallet Show from Just One Lap ·

2019/09/15

Our first ever paid episode of The Fat Wallet Show is courtesy of the Index and Structured Solutions team at Absa CIB. If you see one of them, show them some love. In honour of this newfound wealth and the cool products that made them possible, we decided to dedicate this episode to financial risks that aren’t market-related. In November we’ll follow this up with market-related risks and explain how those freaky new ETFs hope to bypass market risk. We spend some time in this episode on the most

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01:00:22

The news and your investments (#164)

The Fat Wallet Show from Just One Lap ·

2019/09/08

If you’re reading this, you are one of the few survivors of last week’s internet dumpster fire. This week, Simon and I spend time putting together a model to help you make sense of the news. We focus specifically on when a news report should move you to action and when you should just walk away. Here’s the formula we came up with: Figure out what the claim is. Find evidence that supports the claim. Find evidence that disproves the claim. Ask yourself whether the claim has any bearing on your

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01:05:58

Investing for your parents (#163)

The Fat Wallet Show from Just One Lap ·

2019/09/01

The biggest challenge in supplementing a parent’s retirement income is whether to save in their name or your own. This week, we help Kim and her sister think through their options to help their mother in retirement. Kim I cannot describe to you how empowering The Fat Wallet Show has been in my life. You have made such a profound impact I can't thank you enough. I grew up in a home with ZERO financial education. Throughout my engineering degree there were no lectures or exposure to the topic of

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01:04:03

Drawdown management (#162)

The Fat Wallet Show from Just One Lap ·

2019/08/25

Not many of us are well-equipped to manage a large sum of money. Our monkey brains spent so much time learning how to run away from predators and exactly zero time learning about financial decision-making. We don’t blame it, of course. Compounding is lost on the dead. All this monkey business makes retirement a nightmare. Most of us learn to cope with money one pay cheque at a time, and even then we often do a bad job of it. Over time a monthly income starts to feel manageable. Once the corporate

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49:25

How to use bond ETFs (#161)

The Fat Wallet Show from Just One Lap ·

2019/08/18

Bonds are wonderful, magical things, but they can be tricky. Pool them all together into an ETF, and it gets even more complex. First of all, the tax on a bond ETF is tough to figure out. Coupons are taxed at your marginal rate, after an exemption. When your coupons are reinvested, as in the case with our total return bond ETFs, do you also pay capital gains? The answer is surely no, but when SARS comes knocking for an audit, would you be able to strip out the coupons reinvested for the period?

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01:08:27

The price-weighted index (#160)

The Fat Wallet Show from Just One Lap ·

2019/08/11

For two years we’ve had to live with the shame of the Listener Love Index. The wisdom of the crowd is not quite so wise when it comes to stock selection. Let that be a lesson next time a friend offers a hot stock tip. This week we finally replace that horror show with our new index - the Fat Wallet Price-Weighted Index (FWPWI). The methodology is one step dumber than that of indices weighted by market capitalisation. Market-cap indices multiply the number of shares in issue by the share price. We

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01:07:08

Rookie errors (#159)

The Fat Wallet Show from Just One Lap ·

2019/08/04

Making mistakes is a great way to learn. Someone can explain diversification a hundred times without ever having the same impact as one share dragging down your entire portfolio. At Just One Lap, we like mistakes almost as much as we like questions. We know - mostly from experience - each mistake gets you closer to that ideal portfolio. In this week’s episode, we use Ntombe’s question as a kick-off point for some of the common mistakes we all make when we start investing. We talk about the tendency

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01:00:45

If not equities, what? (#158)

The Fat Wallet Show from Just One Lap ·

2019/07/28

We can all assume the chief economist at Stanlib knows a thing or two about the world. Imagine my alarm when I read he thinks we need to fall out of love with equities. Thankfully the headline was just clickbait and Kevin Lings said nothing about Bitcoin. If you let yourself read beyond the headline (lesson learned, I assure you), you’ll find a thoughtful explanation of why the South African equity market is where it is today. In this week’s Fat Wallet Show, Simon and I discuss what our alternatives

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01:02:28

TFSA as you age (#157)

The Fat Wallet Show from Just One Lap ·

2019/07/21

Tax-free savings accounts have an annual limit of R33,000 per year and a lifetime limit of R500,000. It will take 15 years’ full contribution to reach that limit. The money in a tax-free savings account is not liable to any tax, except VAT on brokerage. For as long as you hold the account, you pay no dividend withholding tax, income tax or tax on capital gains. While you can’t make up the contributions you missed, you can continue contributing to the account until you reach your lifetime limit -

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57:14

FIRE at any age (#156)

The Fat Wallet Show from Just One Lap ·

2019/07/14

At age 37, Patrick Mckay had amassed enough assets to sustain his lifestyle without ever having to earn an income again. In the biz, this is what we call financial independence. The Financial Independence, Retire Early (FIRE) movement has enabled many younger people to think differently about their expenses and assets. Even if you love your job, understanding basic FIRE concepts like the 4% rule is a great framework for making better financial choices. But what about people who are further along

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01:02:39

Not enough for a financial plan (#155)

The Fat Wallet Show from Just One Lap ·

2019/07/07

Compiling a financial plan before you earn an income or when you have very little is ideal. You can’t afford any bad financial habits yet and your cost of living is probably as low as you can get it. As it happens, those are the two most important ingredients to rocking your finances. Generally, our umbrella financial plan, the one-size-fits-all beginning to financial life, goes as follows: Pay off your debts Set up an emergency fund of between three and six months’ living expenses Protect your

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01:01:12

What happens to my investments in a market crash? (#154)

The Fat Wallet Show from Just One Lap ·

2019/07/01

I grew up with the idea that you can lose “all your money” in the stock market. I’m sure many people did. Movies about the stock market don’t do much to put us at ease - if it doesn’t end with someone losing their last penny, it’s not very entertaining. This week, Nadia got us thinking about what it really means for your portfolio when there’s a stock market crash. Her anxiety was provoked by Rich Dad, Poor Dad author Robert Kiyosaki, who stated in a recent interview that all money is fake and we

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01:00:59

Build your own financial plan (#153)

The Fat Wallet Show from Just One Lap ·

2019/06/23

If you are earning money, you probably know you should have an idea of where your money should go and why. Most of us avoid drawing up a financial plan because we think we don’t know enough to make good decisions. For some reason, the head-in-the-sand approach is the only comfortable thing about money when we start out. In this episode we argue even a terrible financial plan is better than no plan at all. Without a financial plan, it’s so easy to fall prey to noise. Sometimes the events that inform

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01:02:07

Insurance vs investment (#152)

The Fat Wallet Show from Just One Lap ·

2019/06/16

We don’t recommend jumping into your first investment before you have your financial house in order. The humble emergency fund is at the heart of any good financial strategy, followed by insurance. At the beginning of your financial journey, you don’t have many assets. When you’re starting out, whether it’s getting a handle on debt or starting from zero, your ability to earn an income is your biggest asset. You need to protect that asset first. Your emergency fund covers your expenses while you find

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01:02:14

How to think about investment returns (#151)

The Fat Wallet Show from Just One Lap ·

2019/06/09

Before we begin, please take a moment to complete our survey. It would really help us out. Investing is daunting because there are no clear answers to basic questions like, “How much money do I need?” or “Am I on track?” To make matters worse, financial institutions like to exploit our limited knowledge on the subject by making promises that aren’t exactly false, but not exactly true. If you’ve been investing or listening for a while, you know the market has been struggling for years. As a result,

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01:01:49

Funeral cover (#150)

The Fat Wallet Show from Just One Lap ·

2019/06/02

The sad thing about the work we do is that it has a 0% sexy rating. Once you understand the five financial concepts we keep harping on about, it becomes easy to figure out the rest. The things we invest in won’t make you rich overnight. If it did, we would be sipping champagne cocktails on a beach, not talking about the five financial concepts a hundred times a day. However, the work we do here will hopefully help you identify poor financial choices before you make them. This week, Karabo shares the

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01:07:06

When should I care about performance? (#149)

The Fat Wallet Show from Just One Lap ·

2019/05/26

Sometimes we say you should move your investments, sometimes we tell you to stay invested no matter what. This week, we receive two questions about moving investments. We use them as examples to discuss when it’s a good idea to cut your losses and move on and when you should hold tight and wait for the market to recover. Sign up for our movie night here. Tamryn I have RAs two with Old Mutual. I contribute R1,500 a month to one, increasing by 10% a year. I transferred the RA from my previous job to

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01:02:06

Should you have money offshore? (#148)

The Fat Wallet Show from Just One Lap ·

2019/05/19

At what point did South Africans become so obsessed with having money offshore? For a while everyone was obsessed with gold, then something about Jacob Zuma and suddenly Magnus Heystek was a thing, like a bad dream. Our friend Edwin has this ability to ask a question in a way that stretches my brain more than any answer ever could. This week, his question was simple, “What’s the point of taking money out of the country?” What, indeed! P.S. If you wanted to catch a movie with us at the JSE, you can

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01:03:56

Volatility and your retirement (#147)

The Fat Wallet Show from Just One Lap ·

2019/05/12

The world is changing so quickly that talking about the pace of change is starting to feel a bit clichéd. We measure optimisation and innovation by software updates, not generations. This allows us to customise our lives to a great degree. From time to time we need to check whether rules of thumb of previous generations still apply to the world as it looks at the moment. Most of the time, large systems and institutions struggle to keep up with how quickly the world changes. One improvement often

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247 results

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