Mailbox: A BizNews tribe member’s $1 million thank-you to Magnus Heystek
Key topics:
Free advice helped build $1m portfolio in 10 years
Offshore investing secured family’s future
Planning retirement in Western Cape with wealth
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By Philip Fourie
Dear Oom Magnus,
I hope this email finds you in good health and spirits. You probably won't remember me, but around 2013/2014, I read an article you wrote for Moneyweb about offshore investing. It was no surprise that the topic caught my attention, but what happened next changed my life forever. As a nobody, I took a chance and emailed you, and your "free-of-charge" advice laid the foundation for everything I have achieved today.
At the time, I had about R80k in assets. By following your guidance, I now, about ten years later, have a portfolio of $1 million USD. Today I fly back to South Africa for my mother's funeral, and as I reflect on life, I am overwhelmed with gratitude for you. If my mother knew the impact you have had on my life, she would surely be smiling down on me from above.
In 2015, I immigrated to the US, on your “indirect recommendation,” to earn “hard currency.” I started as an entry-level associate at Amazon, earning minimum wage. Within a few years, I worked my way up to regional manager, where at one point I managed the West Coast operations for “heavy and bulky items” – anything over 50 pounds – from one of my sites. From day one, I started investing in US stocks, including the S&P 500, Amazon, and Nasdaq, exactly as you recommended.
Your encouraging words to “go global” have transformed my life. It has enabled me to cover my mother’s nursing home expenses over the past ten years, save $1 million, save R500,000 for my daughter’s (9-year-old) college fund (529k plan), and fund my wife’s master’s degree at an American university at a cost of about R700,000. Your advice has not only changed my financial trajectory but also secured my family’s future.
Now I look forward to the next chapter. I am considering retiring in the Western Cape and living off my investment income, which is now over six figures per month in Rand. Like you, I plan to invest abroad and live locally. Your philosophy has inspired me to not only build for myself but to create generational wealth for my family.
Oom Magnus, words cannot adequately express how grateful I am for the direction you have given me.
You have not only changed my life, but also the destiny of my family and the legacy I will leave for my children. Thank you for taking the time to respond to me and inspiring me to dream big and invest smart.
With deepest appreciation,
Philip Fourie
*This letter was originally written in Afrikaans and has been translated.