So I'm 19 and have some money I thought I'd start to invest. I'm considering a career in finance and would just like to get started while I have some money I don't need accessible for a while. I don't just want to put it in a term deposit, I'd rather go with a managed fund or something of the sort. I could afford to contribute $50-$100 per month if the investment required it. Any suggestions?
Best Way to Invest $1000
L[Deactivated] on 20/08/2015 - 20:32
Comments
Most managed funds will rape you in fees.
$500 in a European etf and $500 in a value orientated Lic would be a good starting point (asx 200 is not very diversified so funds are better). Once you have another $500 you can put it into an american etf.
Alternatively spend $1000 on books (value investing, economics, trading and programming).
Thanks! Any books you'd recommend?
I might do half books and half in an eft.Most investing books are pretty heavy but I think these would be good introductions
The Guruinvestor
Millennial Money
The Little Book of Common Sense Investing.Thanks! I'll have a look at them.
Knowledge is an investment. But with such a small amount, I probably would not suggest spending on books. Go to a library, or, search online for the ISBN-10 number, with ".epub", ".pdf", or ".mobi" on the end.
e.g. Do a search for this: "0399144463.epub"
… then start clicking links til you (usually/sometimes) find it. Then the only initial investment you WILL definitely need is to install some good antivirus software first. (Tip: The free ones ain't it.)
Consider putting it into an index fund such as Vanguard.
You get the diversity like a managed fund, but minimal fee's.
Cheers, do you know the rough return over the last few years?
It depends which index fund you're looking at since Vanguard have a few of them.
Out of all their funds, I've only personally invested in VAS, which is Vanguards ASX300 fund.
Performance can be found HERE
past performance doesn't necessarily equal further performance. at least thats what the books will tell you.
I understand that but I still wouldn't invest in a fund without looking into the past performance.
if you want a career in finance…. shouldn't you decided yourself, come back in a few years and tell us how awesome you were (would heolp you land a job!)
Haha probably! I'll let you know how it goes
Savings account that pays bonus interest if to deposit but dont withdraw. (Assuming they still have these). Once you get to $5k after more saving you'll have more knowledge and more funds to invest in a more effective way.
Thanks, I've looked around and the interest rates with these accounts, such as those with UBank have dropped significantly.
" I have some money I don't need accessible for a while"
How long is a while, 1 year, 5 years, 10 years? Seeing as you're 19 I'd recommend placing it into a savings account like Euphemistic mentioned. Other investment options usually require a fairly long investment time frame and I would value flexibility and ability to access my money over the small (if any further gains) you will get in a higher risk investment in the near future.
Thanks, I'll look into some savings accounts. At the moment I could probably take $1-5k and invest it for the next year.
Well even more reason to keep it in savings, a year isn't a long time to be in the stock market. There is a good chance your investment could do nothing or even decrease in value over that time.
I've always been a good saver but when I was younger there was always something that came up such as a trip away or buying a car or anything else where being able to access my cash straight away was a big bonus.
I am a big fan of the Barefoot Investor for his sensible/down-to-earth advice on managing finance. You could invest $1000 in AFIC or Argo shares which are managed funds with no management fees and provide low yet reliable dividends every year and have been doing it for decades.
http://barefootinvestor.com/finance-news-money-tips/all-post…
CBA share pack
Sports or Racing arbitrage + little to solid knowledge about the game or race a bonus. start even $500. Risk/return sure out weight shares but definitely need know now
Agree that the return is massive in % terms, but I think you should start with $5k minimum to get the biggest $ profit. @leehungfei, are you still not limited?
OP, if sports arbitrage grabs your interest there is some good beginner stuff here: http://www.sportsarbitrageaustralia.com.au/. As you get more advanced there are other resources available, in particular http://arbusers.com/ (although I've heard they have stopped taking new registrations recently)
Yeah, limit by Tomwaterhouse-Centrebet, Ladbrokes, Bet365 but then I opened Williamhill=Tom-Centre, Betstar=Ladbrokes for revenge!
There's like a field day of arbs last weeks on bookies promo + all markets, Not make fortunate money but certainly happy with progress. Arb too massive then get restrict feel suicide
Clueless if tell me invest in Sharemarket when bloodbath just happen and will continue, than you can do this for risk free income
PBD are you still doing this? or?
Clueless if tell me invest in Sharemarket when bloodbath just happen and will continue, than you can do this for risk free income
Agree 100%, but sports arbitrage is a lot more involved than plonking your money on shares and sitting back. Its not for lazy people.
PBD are you still doing this? or?
Nah, got limited by all and sundry to $5 or less a few years ago. Haven't been back since. Although with the spate of new bookies in the past few years I've wondered if it was worthwhile having another stint. What do you think? The usual crew (sportsbet, 365) don't want to know me on the sports side anymore but they still (stupidly) throw a few bonus bones my way each year which I quickly extract 75% through the horses using back-lay arbitrage with betfair.
@PBG: think you already as experience arber. so, why not do again. the concern is stay not over greed. hard resist temptation is you always wanna place large bets to make big buck. maybe open to your family abt it see they will help???
my journey more becoz im a fan of soccer and tennis for years, understand the game very well. then pretty solid at maths so doing the calculations can be faster than normal person n precisely accurate + pretty damn discipline when manage money. (e.g. use bankwest debit card to fund accounts to get qantas point while betting!!!!)
have been carefully reducing my bets to ~$100-$200 just to avoid flag from bookies. there are more chances to catch others than look into my book. hope continue as long as can be..
e.g. crownbet n williamhill offers lately is like paradise.
throw it at some shares.