Here’s a story from one of our colleagues. It goes a little something like this…
Last week I went on a blind date.
It was my first time. I was a little nervous.
We’d arranged to meet for a picnic.
After some polite conversation, she asked what car I drive.
Sheepishly, I asked, “why”?
She told me she’s a mechanic and spends her days customising cars.
I drive a Citi Golf, I said.
Her eyes lit up. She said that the first car she’d modified had been a Citi Golf.
She’d given the car a boost by adding a turbo.
I admitted that I didn’t know how turbochargers work, so she explained them to me:
More air is retained in the combustion chamber of the engine of a car with a turbo than without a turbo. The ‘extra’ air produces more power per litre of fuel.
In an attempt to impress her, I joked that my company offers turbocharged investments.
Perplexed, she asked me to explain myself.
My company offers tax-free investments, I said.
And all earnings within tax-free investments are free of tax.
More money (ie. money that would have been paid as tax) is retained in a tax-free investment than a taxed investment. The ‘extra’ money produces more growth per rand invested.
Anyone who opens a tax-free investment is giving their money a turbo boost, I said.
She said she appreciated that I seemed to have grasped how turbos work.
When we said goodbye, she thanked me for the picnic and teased that she’d look into opening a tax-free investment.
Maybe it would have been cooler of me to leave it there, but I’m just not that cool. I explained that there’s a R30,000 annual limit that expires at the end of February each year, so it might be to her benefit to act soon.
She thanked me for the heads-up.
I couldn’t tell whether or not she was joking.
I wonder if I’d have heard from her if my parting words had been a little more romantic.