As we start rounding off a challenging year, now is a good time to reflect on some financial mistakes we should avoid going into 2020.

In my 30 years in the investment market, I can’t remember the mood in the country being this negative – and that is despite an exceptional Rugby World Cup win! Other than Ramaphosa being removed as President, I can’t think how things could get any worse. I believe, economically, the country is near its low point and that this is being reflected in investment markets. Allan Gray has written an article outlining 10 critical areas that need ‘doing’ to get the country to start growing, which we have summarised for you.

The Springbok strategy this past weekend against Wales was not pretty, but it worked. Just as the Boks have a plan that plays to their strengths and produces a win, so too should each person have their own unique plan to meet their financial goals. The plan does not need to be dynamic or creative, but it must be tailored to your needs. It starts with engaging with a qualified independent financial advisor, as recommended by Allan Gray. Please read Allan Gray’s views on the role of an advisor in your investment success.

As our hope for a material recovery in the economy fades, let’s not confuse this with good investment opportunities. We need to be realistic about what the environment presents and position ourselves according to our own personal risk profiles. Please read our fourth quarter economic and market outlook report where we highlight the difference between economic activity and investment opportunity.

When you retire, you have two important choices to make with your retirement savings, accumulated throughout your working life. These decisions require careful thought, which could have a material impact on your retirement lifestyle.