Guidance

[zvikisum]

So after 7 months of unemployment I will be starting a new job.

I have R1.1 million in savings in a 45 day notice deposit at bankzero earning 8.5%.

I am tempted to put that money into a 5 year RSA retail bond as the interest rate is 11.25%

I have maxed out my TFSA, I do have an RA I have been contributing to. I am going to invest R10K a month with sygnia when I start new job.

I do have various crypto currencies and do not wish to invest further.

Not looking to get into property at this point.

5 year RSA retail bond with interest re-invested every month a sound option?

EDIT - I've decided to rather invest the money offshore. With elections coming up next year as well as the poor state of the economy I'd rather put the money in the market over a 10 year period. I'm gonna do a spread across sygnia's offshore products:

- Japan

- China

- Eurostoxx

- S&P 500 and 1200

- FAANG

 

[gifford26]

@zvikisum Retail bonds generally the safer options and higher interest is your friend at the moment.
So kiff that you got to spend 7 months off, did you have a sabbatical? I’m headed that way, it also looks like you’ve made some good financial decisions!

 

[zvikisum]

@gifford26

So kiff that you got to spend 7 months off

Sadly not. Was serious unhappy at my last 2 jobs. April was a write off as I was stressed, depressed and anxious. In May I thought I turned the corner but by June panic and anxiety set in.

Did start seeing a therapist, did 4 rounds of ketamine therapy. But sadly I live alone, my friends are not close by and they have their own daily issues to contend with.

I'd go so far as to say that there has been no real time off and I don't feel relaxed. :-(

 

[gifford26]

@zvikisum I’m so sorry to have just assumed. The therapy obviously didn’t go well, I thought Ketamine would be the answer for drug resistant depression - I’ve been wanting to do it forever.
Listen, I get work not being satisfying. I’ve literally just quit and don’t have a new job, because I couldn’t handle it anymore it was making me sick.
I hope that this round is better for you and a better fit. I guess we learn as time goes on that mental wellness (although a long battle) is better than working yourself to an early grave.

 

[zvikisum]

@gifford26

depression/ketamine

It did relieve the depression but only for a short while. Having no support structure and being alone maybe the perfect storm for ongoing depression and anxiety.

Sadly I have not seen any news that MDMA assisted therapy will be on offer in ZA anytime soon...and i don't really want to go to Australia where they have legalised it for therapeutic use.

If you want to chat, as you have endured as similar issue WRT work, I'm here

• Edit 1 - Therapy will be an on going process. I was hoping ketamine might have given me that: AHA moment but sadly not.

 

[plainjane3]

@zvikisum You know depression caused by imposter syndrome and loneliness is a thing, if you are in Gauteng randburg area drop me a pm, and see if we can say hi sometime.

 

[zvikisum]

@plainjane3 Sadly out in the eastand and yup aware of the factors against me WRT isolation and working at companies where the standard is so low and you're gas lighted for trying to make work more predictable and reliable.