I would like to ask you guys on some advice about the Tax free savings accounts that have been introduced this year. Now I know how they work, and what government is trying to achieve with this vehicle, but I am unsure of who exactly something like this benefits the most. I am for example an honors year university student (22 years old) under the tax threshold (currently). I have a moderate to high risk appetite. So according to my understanding, to get the most benefit out of it would be to annually contribute the max of R30000.00 and not touch it. You would do this annually until you meet the R500000.00 (thus 17 years). I am well prepared to do this, and I will still have money left over to trade in normal equities, but I am wondering if this is worthwhile for someone with my investor characteristics? I am basically asking if I could do better elsewhere? Any advice would be much appreciated.
... View more