Capitec at R2 on the JSE. Looked like a dodgy mashonisa with a fancy logo. R1,000 then is R2.1 million now. We saw it every day at the mall. We just didn't buy it.

If your assumption is 0% rate of return then the first person would be R20k short. I’ve withdrawn from my TFSA to put down a deposit towards a property, and I’ve made more than what I took out in commodities (gold) & discretionary investments. Importantly, increase your income!

Shoprite listed on the JSE in 1986 with a market cap of R29 million. The vibe at the time: that's not a real supermarket chain, that's a bargain bin with a roof over it. No-frills stores. Township and rural locations. Serving the customers the "proper" retailers didn't want. Pick n Pay wasn't worried. Checkers wasn't worried. OK Bazaars wasn't worried. Because to them, and honestly to most of us watching, Shoprite's customers weren't the right kind of customers. Some landlords wouldn't even give them space in their malls because of it. Turns out there's no such thing. There were millions of working class South Africans who just wanted affordable groceries close to home, and kept getting ignored by the big chains. Shoprite said yes. Lower prices. No frills. Stores in towns the "proper" retailers wouldn't touch. The stores were always packed. We saw the till queues stretching out the door, in towns everyone else had written off. We assumed that meant something was wrong. It meant something was very right. R29 million at listing. Close to R170 billion today. The bargain bin chain landlords didn't want became one of the most valuable companies on the JSE, and Africa's biggest food retailer. We didn't miss a stock tip. We missed the queue at the till.

But how many people actually cap their R500k lifetime contribution. I think it depends on how you use it

Are you assuming that TFSA rules will never change?

Time is money! Youth month: Time is the asset you only have when you’re young - Moneyweb share.google/379UndwvGJ2upIh…

Two people. Same TFSA. Person A maxes out their R46,000 every year. Year three, retrenchment hits. They pull out R20,000 to get through it. No tax on that, TFSAs don't punish you for withdrawals. Eight months later, back on their feet, they put the R20,000 back in. Felt like the responsible thing to do. Here's what nobody told them. SARS doesn't see a withdrawal followed by a refund. It sees two contributions. That R20,000 going back in gets added to their lifetime count again, stacked on top of the R20,000 it already used the first time. They just burned R20,000 of their R500,000 lifetime limit for nothing. No extra rand invested, no extra growth. Just permanent tax free space, gone, because nobody told them withdrawals don't give the room back. Person B goes through the same retrenchment. Same R46,000 a year. But they keep an emergency fund outside the TFSA, so they never touch it. Eleven years later, both are still maxing out every year. Person B reaches the full R500,000 limit. Person A gets there R20,000 short, forever. A TFSA isn't a bank account with a tax perk attached. It's R500,000 of space. You only get it once. We spend our whole lives worried about running out of money. This is the one place you can run out of room instead.

Capitec listed at around R2 in 2002. The vibe at the time: that's not a bank, that's a mashonisa that got a logo. Purple branding. Mall location. Serving people who couldn't get through the door at the "real" banks. FNB wasn't worried. Absa wasn't worried. Standard Bank wasn't worried. Because to them, and honestly to most of us watching, Capitec's customers weren't the right kind of customers. Turns out there's no such thing. There were 20 million people in South Africa who needed a bank and kept getting told no. Capitec said yes. Simple products. No minimum balance. Fees that didn't punish you for being poor. The branch was always packed. We saw the queue every weekend. We assumed that meant something was wrong. It meant something was very right. R1,000 at R2 is now R2.1 million. The bank we dismissed as a township loan shop became one of the most valuable companies on the JSE. We didn't miss insider information. We missed the queue at the mall.

Next year PEP starts a bank. Is it the new Capitec? Should we buy shares now?

And I've been a proud customer for four years and counting!!! To many more years together 🥂 @CapitecBankSA

Equity Group ran a similar business model. The customers who couldn't afford bank balances in 5 digits and now it is the largest bank asset wise.

I worked for them in 2003 and i could see this coming

This is the reason why i am targeting Small-Cap Stocks right now, in 10 to 20 years i will be a millionaire.

This!!! 👏👏👏 If you still going through life without a TFSA - this is your sign to start NOW!!

R500/month × 12 months × 25 years = R150,000 contributed Satrix Nasdaq 100. Inside your TFSA. 12% annual growth. Zero tax on gains. = R940,000 You built R790,000 and SARS never touched a cent. That's not a loophole. That's what a TFSA is for.

And that music is coming straight from the musician and not on a speaker…

How do you go about putting R3,000 a month into the Satrix Top 40 inside a TFSA? My bank offers a tax free savings account but don't think it has anything to do with the satrix 40? P.s. I clearly know nothing about this stuff

Can the 20% tax apply to Namibia investing with EasyEquities?