Investment Club/Investing

• 

  ednamekin on 07/03/2016 - 14:01

  You can look at Ratesetter for a start.

• 

  p1 ama on 07/03/2016 - 19:26

  -2

  If you're a newbie with investments, then you have to know two things:

  1) You're not going to make money quickly
  2) You won't beat the market in the long run

  What does this mean? Invest in an ETF and call it a day.

• 

  Candour on 08/03/2016 - 09:34

  -2

  rather than investment clubs, max out your super for tax free ongoing earnings. dont take out any loans. use your savings to buy all things for cash. car, house etc. never pay interest. rent, dont buy.

  check out some robo investors in oz online and put in the minimum to see how they go. read their education. read investment and trading sites.

  if you join an investment club just learn from them. investing with them will confuse your risk/return and you may take too much/little risk without knowing it.

  attend free seminars from providers. don't sign anything, just learn what they can do. don't believe their hype.

  clubs have made and lost money. google their pros and cons.

  • 

    mrtin on 19/03/2016 - 07:55

    Earnings inside super are not tax free

    • 

      Candour on 20/03/2016 - 20:47

      my mistake;
      https://www.australiansuper.com/superannuation/how-super-wor…
      is useful to the rates

• 

  [Deactivated] on 20/03/2016 - 21:32

  Possible a good choice for a complete newbie, is to open an online share trading account with a solid place like Comsec. Stick with common sense, read a lot, buy Bluechip mostly, have fun, be willing to win and lose, and make it a longterm hobby.
  I believe it's tax-free profit after 12 months holdng any particular ASX share, but check this.
  Otherwise something like Vanguard eft's seems a popular choice.

  • 

    Doggiie on 20/03/2016 - 21:45

    Apart from the $600 free brokerage (for up to 3 months from opening account), what makes CommSec better than say CMC which has a $11 brokerage fee instead of $20ish for CommSec?

    I too am looking into sitting some cash ($1k-5k) into stocks and begin the investment life.

    • 

      [Deactivated] on 20/03/2016 - 21:56

      Igmarkets(good interface) and Plus500(crap) are both cheaper again. But you don't own the real shares at any of them including cmc afaik, so a cfd has no value if they go broke (risk). Plus no tax advantage.
      Comsec, Belldirect($15), Nabtrade($15) etc are more for real longterm investment (Ma & Pa). Whereas Cfd places mentioned above are more like smart gambling houses. Big risk, big sharks some of them.

      Just my opinion.

      • 

        Doggiie on 20/03/2016 - 22:14

        I have been trying to read up about the world of stock market in the past week and I have definitely found it a lot of information to let in.

        From what I have read, I should find something that can provide CHESS sponsorship, which makes shares sit under your own name. From the looks of it, the CMC does have a CFD trading place called CMC Markets, but also a full one called CMC Markets Stockbrokering which does have CHESS sponsorship. Again, I'm not 100% sure as I'm just a learner.

        Also, I am leaning towards CommSec though, but I'm scared the higher brokerage fee may deter me from using it once the 3 month grace period expires.

        I am just looking for something where I can stick my toe into the water with EFTs, the cheapest way possible.

        But advice taken: Avoid CFD, they are risky.

      • 

        [Deactivated] on 20/03/2016 - 22:34

        @Doggiie:
        You're spot on with all the CHESS sponsorship idea.

        If you want to buy and sell a lot and cheap. Igmarkets is maybe a good place to start.
        You can transfer and get returned your funds free and without fuss, and trade a HUGE amount of instruments very cheaply, quick & reliable. But you wont own them.

        They are a together place nowadays, with decent charts, info and email & phone contact for help.

        But the good bit is you don't have to pay for live data access (often ~$40 p/m), instead you click a button and get 15 secs live data, then back to delayed.

        I could tell the bad points too, but to get into it and see the world so to speak, this place is pretty amazing in my opinion.

        And yes they have a huge range of global EFT's, shares, fx, commodities, …

        You can lose your shirt and house too!

        Good luck

  • 

    Elppa8 on 20/03/2016 - 22:02

    +1

    I believe it's tax-free profit after 12 months holdng any particular ASX share, but check this.

    Not quite, capital gains can be offset by a capital loss. Tax is payable on a capital gain which is discounted by 50% if the stock was held for more than 12 months when sold. Losses can be carried through to future years.