Even the best laid plans...
In addition to her own work experience, Catherine says, she also was fortunate enough to be able to draw on the knowledge of her elder brother, who had retired at the end of 2016.
“He had researched and met with a number of investment companies prior to his retirement,” says Catherine. “He was very cognisant of the cost to invest one’s retirement funds and the impact these fees have on the capital and return of the investment over a period of time.”
She says her brother advised her to do her homework regarding the fees and costs before making a decision. Additionally, Catherine says, another family member, who is an actuary, also provided guidance. The last and final source Catherine mentions is Andre Tuck, a retirement expert from 10X Investments, who met with her to explain 10X’s investment philosophy and fee structure.
You might think that with all this information and experience to draw on there would be no surprises in store for Catherine, much less big shocks.
But, she says, “when I did the calculations on the various fees quoted by some of the investment companies I was horrified!”
The fees were so high that, she says, the money she is saving with 10X every month covers the cost of her medical aid , DSTV and life policy premiums.
As one might imagine, this made Catherine’s decision to invest with 10X "an easy one”!
