Old Mutual On The Money
Old Mutual On The Money
Legendary goalkeeper Brilliant Khuzwayo shares tips and insights from his sporting career
In his playing days, legendary goalkeeper Brilliant Khuzwayo knew how to make a save for Chiefs and Pirates. The same can be said for his financial game plan. Brilliant shares his tips and insights about the importance of avoiding debt, saving a nest egg, creating multiple income streams and building a personal brand with our Head of Financial Education, John Manyike.
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Old Mutual 00:00
Welcome to the On The Money Podcast with John Manyike.
John Manyike 00:04
How are you, my brother?
Brilliant Khuzwayo 00:05
Always brilliant. How’re you?
John Manyike 00:07
I'm also brilliant. You have got beautiful names, by the way. I mean, Nhlanhla, for those who don't know meaning “Luck” and then, Brilliant, those are beautiful names.
Brilliant Khuzwayo 00:16
By the way my sister's name is Sibahle, in English it's beautiful.
John Manyike 00:21
Oh, okay. Who has given you these names [laughs]?
Brilliant Khuzwayo 00:24
My late mother.
John Manyike 00:25
No, no, she was really spot on. Let's talk about your background, where are you from?
Brilliant Khuzwayo 00:30
Nhlanhla Brilliant Khuzwayo, born and bred in KZN. I started being in love with football at the age of eight, where he saw Brian serving penalties with Rodman's cap 1998 where he was beaten by Kaiser Chiefs. That is when he first fell in love with goalkeeping, from there he took it on and follow his intuition, follow his dreams.
John Manyike 00:52
Have you tried other positions in football?
Brilliant Khuzwayo 00:56
Yes, I did. I was in played centre but I've always fell in love with what Brian Baloyi did at Kaiser Chiefs, then I followed that throughout but playing inside, I did play inside. I can still play inside. It's quite good to go when you’re a goalkeeper to be able to play inside and also be a goalkeeper. So, it makes it easier for my teammates to play from the back.
John Manyike 01:18
Hey, I can only imagine, imagine a goalkeeper [laughs]…
Brilliant Khuzwayo 01:23
Quite. I’m a goalkeeper and they love actually playing inside the field. As goalkeepers we think we know how to play, the fact that we don't want to run it, that is the main problem that we don't want to do.
John Manyike 01:33
You are playing for Durban Warriors, and you receive an international call up. Let's talk about how your relationship with money evolved in general, you know, transitioning from playing and then going to the international stage.
Brilliant Khuzwayo 01:47
My mother's sister really, really helped me. Even me buying my first car, I bought it cash. And because she was helping me as it take some of your money and put it aside. And then I would save it for years. So, that really grounded me quite a lot. Because when you're young, you'd want to actually wear nicely, wear expensive clothes. And there's nothing wrong with that when you're still young. But if we find a mentor who are next to you who would want to help you in terms of saving that money, it really helped me in terms of growing then why
John Manyike 02:15
Then while moving from AmaZulu to Kaiser Chiefs, were you getting any formal financial advice or training on how to manage money?
Brilliant Khuzwayo 02:24
Finding an agent like Tim Sukazi, he really helped me in terms of managing my finances, the new ones I'm thinking will change. Things will be different from social life, social media, things will be different. So, I was very close to him. For the signing-on fees, he used to take care of them and give me a certain portion. If I want to do this. I bought my first house when I was 22. When I joined Chief, the first thing that I had to do was to fix the home. So, he took all that money, put it at home, renovate everything at home. I was 22 year old is very, very young when I was renovating. So, those people who are next to you trying to help you when you don't know how at the time to manage your finances really helped. I didn't get a lot from AmaZulu, I think from AmaZulu was getting 15,000, when I went to Richard’s Bay on Loan. Now, I think coach, Manqoba Mngqithi, he said he really helped me, all he said was you know what? This is that you’re getting, it’s not a lot of money, we will try to add 10,000 but that 10,000 would come from Thanda, 15 and remained from AmaZulu. So, actually when I joined the NFD at the time, so I was getting 25 and Tim knew all of that. So, there were a couple of 50k extra from that. I don't want to actually put the exact number. When I joined that there was, because I was already in the under 23’s, already also, I'm having my first caps in the Bafana. I knew it because every time we would come to camp here in Joburg. So, I knew a little it how to maneuver here in Joburg.
John Manyike 04:05
How did you handle the limelight?
Brilliant Khuzwayo 04:07
There is no formula to it.
John Manyike 04:09
Yeah.
Brilliant Khuzwayo 04:09
But if you know yourself and you are a person that is grounded, your foot into it. Because at that time, you know the big dogs are there, Simphiwe Tshabalala, Reneilwe Letsholonyane, Itu, and you learn from them and you've been seeing them from far and now they are here. They would helped you in terms of understanding fame and limelight. So, I was always next to those people trying to learn and understand. In certain years, two years, three years, I would be as big as them, so I need to actually milk certain information from them their lifestyle and how they live from staying in the south of Joburg, what is it that I can do to get into the north of Joburg? Ah, okay, Chiefs is actually saying, there is a certain fee that for your accommodation. Why don't you take that certain fee and put it on a bond. If Chiefs are saying they will pay you 10,000 for accommodation, so why can't you take this 10,000 they put it in your account, so that you can put it in a bond. So it would make sense from that would okay, you can actually go to the north side, but only you pay 5000 from your salary an extra 5000 and tries to finish that house quickly. Because the contract will be ending. So, by that, and then move from the south, go to the north. Because even in the south, everyone has access to you. So, you'd want to go into a place that you don't have access, people shouldn't have access to you and live freely and focused on football.
John Manyike 05:39
So, that 10,000 accommodation, is just a brilliant example, or is it something that actually happens?
Brilliant Khuzwayo 05:45
It’s not a brilliant example of something that happened because you’re coming from Kaiser. So, obviously when you set up your contract, they need to find you an accommodation. So, on your contract, there's already the 10,000 Rand.
John Manyike 05:57
It's a brilliant way of dealing with creating wealth for yourself as a soccer player.
Brilliant Khuzwayo 06:01
We try.
John Manyike 06:02
But a lot of soccer players they struggle limelight and fame and being able to handle money and thinking future, is there a particular financial strategy that you came up with?
Brilliant Khuzwayo 06:14
Everything that I have, beside the houses, it's cash. Not the best strategy if you have a nine to five or day to day job, but if you find yourself having maybe 800,000 Rand, that is going to get into your account, find yourself buying your furniture cash, find yourself buying everything cash, and then try to save. One of the best as I said before that, maybe my support structure is very, very strong because my brother was actually when I was Chief, he was working at Stanley at that time and right now it's just a RMB. So, in terms of investments, he helps me in terms of maneuvering taking from this to that, so he helps me in terms of that. I'm not an expert in terms of understanding finances and investments. But if we have great structures around you that would actually say, secure this, secure this, secure this and this what it does for me.
John Manyike 07:10
Yeah. You're close bond with Itumeleng Khune as friends. Did you ever exchange any financial tips or strategies, what would you normally discuss?
Brilliant Khuzwayo 07:20
Obviously, he has a beautiful house in Ruimsig. In camp, we used to sleep together and speak about investments. If you speak about savings, and when you retire from football your savings because when there is not normal money that's coming in, and you’re always taking by the next five years that money would be gone. So, try to find something that will create an income while you're spending. Because if you have a Million Rand the moment you spend 100 Rand, it’s no more a million and. So, find something that would create another 10,000 if you spend maybe 2000 Rand, this is my strategies that I work upon.
John Manyike 07:57
Okay. In 2014, unfortunately, at home there was that one experience you had. Did this in any way change your perspective about the value of material position or even inuring isn't and what if you have no insurance, then someday…
Brilliant Khuzwayo 08:11
It’s an everyday thing that happens in the townships where druggies would steal geyser, copper wires and miscellaneous things, so it's something that happens in the township which is why if you find yourself in the position of getting out from the hood, get out from the hood, find your own place that is going to be from the hood, so that you avoid certain things. But coming back to your question, which mean I personally don't believe in that insure your car, insure your house, insure your phone, but furniture and all the miscellaneous stuff I don't believe in those things.
John Manyike 08:45
Did you know that when you take car insurance, you can tell your insurer that you want to add household contents to the insurance, it will decrease your insurance premium. So, a lot of people they don't insure your furniture or household content because they think that it's unnecessary. But that is an instalment your monthly instalment on your car insurance when you add your household content, and you won't even feel your instalment and then those things are insured. If because even in the suburbs, thieves will get there and they take the stuff that they take. But anyway, I think it is that we've learned something.
Brilliant Khuzwayo 09:45
I’ve learned actually something and thank you for that.
John Manyike 09:47
Unfortunately, your injury interrupted your brilliant career. I mean, you…
Brilliant Khuzwayo 09:54
Right at my prime.
John Manyike 09:55
You know, you're a goalkeeper for Kaiser Chiefs and then you move to Orlando Pirates. Did you have any safety net, during that time you know, to keep you going after you are forced to retire because of injury.
Brilliant Khuzwayo 09:45
There's a strategy that I used when I joined Pirate that the Dr. Khoza I asked him, for my image fee, let's say signing on fee, I don't want it, buy me that house.
John Manyike 10:02
Wow.
Brilliant Khuzwayo 10:03
So, he agreed. I think that is one of the best investment that I did. And then the contract that me and Tim sets upon at Orlando Pirates was a lifetime contract. I sat down with myself and said, you know what this is it. This is my retirement plan. But unfortunately, things didn't go quite well for me with my ankle. But for me actually saying, I need the house, t’s still there. It's still there, very beautiful house.
John Manyike 10:34
How does this still work actually, the team gives you a signing on fee, right? And it's in a five year contract?
Brilliant Khuzwayo 10:43
Every year.
John Manyike 10:44
Right.
Brilliant Khuzwayo 10:44
So, every six months, if you break it down. If it's too big, I would say six months. That gives you half six months, they'll give you half for the five year contract.
John Manyike 10:55
So, then when you get an injury and then you can continue there the entire…?
Brilliant Khuzwayo 11:01
The injury, they will say no, then you have to retire. That means that the contract the contract has to end.
John Manyike 11:08
So, the outstanding balance?
Brilliant Khuzwayo 11:10
The outstanding balance from the signing on fee. Then you'd have to go the insurances to save every player's insured. If in any case you get an injury, a certain amount that you would gets from, so we sat down with Mr. Khoza and then discuss, how can we get that money and then the team would get a certain proportion of it. Now, they said, take it, and take it all.
John Manyike 11:36
I didn’t know players would go to that extent, I thought that the PSL teams or clubs simply keep their money to themselves but from what I'm hearing from you…
Brilliant Khuzwayo 11:48
They don't keep the money, it gets shared and if you're smart enough or if you're a good boy, a respectful boy that doesn't have problems with the team and they will say take it. For my example, take it all, take it all because I think I got it from Pirates and then Chiefs also because the first injury I got it from Chief said, okay, there's the proportion, take it.
John Manyike 12:15
Even for a person who's not necessarily a soccer player, generally a disability cover can secure the lifestyle?
Brilliant Khuzwayo 12:23
The province of Kwa Zulu Natal from the government side. And Ethekwini have really been my pillar of strength in terms of, they understood my vision of what I want to do in the next 5 to 10 years. And they said okay, but now you need to start from scratch and build this once again, they've been supportive in terms of my program that I'm doing that side, already I'm running an academy.
John Manyike 12:46
You're doing different things. You already touched on some of the things you're doing. You're also doing commentary on TV, which is brilliant [laughs]. Okay, maybe this in reflection, when you look back, if you were given a chance to relive your life within soccer, is there anything that you would do differently if you are given a chance to go back and relive your moments?
Brilliant Khuzwayo 13:16
There is one. For me to not go that extra mile and break my ankle, I would really do that just that moment and not push myself and go for that ball before it went out and break my ankle, that’s the moment I’d would relive.
John Manyike 13:34
It's a pity, you know, sometimes life happens and you knew…
Brilliant Khuzwayo 13:36
Nothing, else besides, I think, every mistake and every good deed, in every lesson, it was meant for me to learn and grow as Brilliant. That’s the only thing that I would relieve.
John Manyike 13:54
A lot of people don't know why you prefer, jersey number 16 as a goalkeeper.
Brilliant Khuzwayo 14:00
Brian Baloyi wore number 16. He was Spiderman. I mean, he motivated me to be a goalkeeper, and I said to myself when I was eight years old, I would want to wear number 16 and play for Kaiser Chiefs and be a goalkeeper, all these years until 2012. I wanted to wear number 16. But the story doesn't just end there. The story goes on and say with when I was 16 years old, my mother passed away. A month before she passed away, she said to me wherever that I'm going to be always make me proud, always protect your sisters Sibahle. I think I have the responsibility to make her proud and always be next to my sister when I was 16 years old. So the number 16 at Kaiser Chiefs, she was supporting Kaiser Chief. So the number 16 at Kaiser Chiefs goes upon. My late mother and also Brian Baloyi. He was my role model. I think I did live my dream of getting to the position of wearing number 16 at Kaiser Chiefs and not a lot of kids actually get that opportunity to say, “I would want to be this when I'm old” and they become that. So I always tell children they must follow their intuition follow their dreams, you never know you might be brilliant.
John Manyike 15:19
I am telling you which reminds me of my last, second last question, How are you related to Babes Wodumo?
Brilliant Khuzwayo 15:29
[Laughs] Quite little, okay, okay, let's get into this. She was friends with my sister since they were young. So whenever they went to clubbing or anything, so I would use to fetch them. So, she's more like a little sister to me. Then people took it in the wrong way, the media has a way of turning things around. She was going through a certain phase I needed to come on board and speak to her.
John Manyike 15:54
Yeah. If you were to give advice to young athletes getting into the soccer stage, what would your advice be when it comes to handling finances?
Brilliant Khuzwayo 16:04
They must follow their dreams. But upon following their dreams, first secure a home, take 25% of your income, put it aside, buy a car that will take you from ‘Point A’ to ‘Point B’.
John Manyike 16:19
The transport.
Brilliant Khuzwayo 16:20
Yes, from ‘Point A’ to ‘Point B’. And once you've bought that car that will take you to work and come back. Don't be pressurized by society that you need to live in a certain standard of life. If you're a footballer, you live by contract to contract. Have you mentioned corner, save as much as possible, but also find yourself in a position of creating another source of income while you're still playing. Build your name, build your brand while you are still playing. By the time you retire, everything would be running smoothly. So find yourself in a position of what you were doing before still do it's once you get the fame, still do it the way that you were doing things, save, save, you need to save.
John Manyike 17:12
I think you can trust a goalkeeper to say, save, save, save.
Brilliant Khuzwayo 17:16
Save brilliantly.
John Manyike 17:18
[Laughs], I think I have been lucky to have such a brilliant interview now. So, thank you very much.
John Manyike 17:24
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Old Mutual 17:30
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