Investment/Savings.. what is everyone doing?
Was having a conversation with some friends last weekend.
We got talking about money and investments - happens when you get older I guess - and I mentioned I’ve had this thing running for about 3 years now where every month 15,000 rupees automatically gets debited from my bank card, goes offshore to USD, gets invested into a few BlackRock iShares ETFs, and I basically forget about it. Dollar cost averaging, nothing fancy.
They had no idea this was even possible. None of them were doing anything like it.
I assumed this was pretty normal - like I thought most people who were serious about saving were doing something similar.
My whole thing was I didn’t love the idea of all my savings sitting in Mauritian Rupees, and local market returns weren’t really doing it for me. Spoke to an investment manager a couple of years back and they set the whole thing up - the offshore account, the ETF selection, the automatic monthly debit straight from my bank card. I just approved it and it runs itself. Performance has been great.
The investment manager always said the best way to save is to automate it and lock it away so you can’t touch it. Genuinely the best financial advice I’ve got.
Are people not doing this? Is it less common than I thought? Curious what others are doing.