Hi, after reading through some recent discussion posts i have felt motivated to put a question to the ozbargain community about best ways for investing a relatively small amount of money with the goal of increasing that amount sooner to use as a house deposit. What are some good and somewhat safe ways to invest an amount of 15k? Is P2P lending a good option? What shares are suitable for she growth in the short term? Are there are other methods people use? Thanks in advance for sharing your knowledge!
Best Way to Invest 15k
[Deactivated] on 18/08/2017 - 19:50
Comments
Haha
Lol that would be a great return - just looking for something a little safer
Bikies
OK, Red then
Green
all on black
You're going to have a hard time finding someone that returns well, and is safe. They usually don't go hand in hand. Don't invest what you can't afford to lose.
Cryptocurrency is a great investment, at the moment. Bitcoin is sky-high. Ethereum is taking off rapidly. Iota and NEM are simmering away gently, ready to take off.
I've made 30-50% return on investment from cryptocurrency. I've also lost 40% at other times. Incredibly volatile, and extremely profitable if you do your research and ride the rollercoaster.
Good luck, my friend!
Gee I wish I just knew a bit more about digital currencies! I hear many stories of people forgetting about investments then checking back some time later to discover huge profits! I will spend some time reading about your suggestions, thanks very much for your response!
You definitely don't want to play with your life savings. I suggest getting a small amount to play with just to see how scary it is to put your transactional faith in a string of text. It's makes BSBs and account numbers look rock solid.
My forgotten small batch went up 700% so I just cashed out half. Now if BTC doubles I'll regret selling too much and if BTC halves I'll regret not selling enough. Have you ever met a chilled gambler?
And you can cash out to an Australian bank account?
Cryptocurrency is a great investment
Woah! Crypto is nearly the most volatile investment on the planet right now (besides going to the casino). Quite poor advice for somebody starting out. I know you qualified this advice afterwards saying it's volatile but to even suggest crypto as a "great investment" is pure nonsense.
Sure he could double his money but he could just as easily see it halved or quartered in the blink of an eye.
That's the nature of the beast.
OP wants to increase his $15,000, to a house deposit. The 3% he'll earn from a bank won't cut it. They sound like they want a quick mover.
Now is a great time to invest in cryptocurrency. I lost 25% of my cryptocurrency portfolio last night, due to a surge in Bitcoin Cash. It will correct itself over the next few days/weeks.
I say again, if you can't afford to lose it, don't invest it. Put it in a term deposit, and keep saving.
Good luck!
I came into crypto mid June, then the arse fell out of everything :(
In saying that, I've had more "luck" in crypto, certainly more than gambling at the casino.Good news is it's bounced back - I'm currently up 182% and loving it (trading mostly IOTA, ETH and OMG), and that's with the ups and downs.
Short term is probably not the best unless you turn into a day trader with the amount of volatility there is - you also need to do your research with certain coins, their white papers and keep an eye out for announcements such as partnerships with companies, etc.
Long term will pay off most of the time if history is anything to go by …I'm an amateur at trading, so take it with a grain of salt, but I believe crypto will be the future of currency with varied applications instead of fiat. There are real possibilities with investing in crypto.
Are you mining crypto currencies, or investing in? If mining, does the 182% profit include the cost of graphics cards?
I believe crypto will be the future of currency with varied applications instead of fiat.
I never understand how people say this with a straight face. Cryptocurrency is not a decentralised alternative to fiat currency. Consider for a second why it costs fiat currency to buy crypto.
Cryptocurrency is 100% backed, sold, and traded by fiat currency. How can it be decentralised?
The online stores or payment systems that accept crypto do so under the expectation that it can be redeemed for real money. They don't care about the imaginary number of Bitcoins on a page.
hodl to the moon
woo hoo TO THE MOON my fellow Cryptonian. Used to put money on buying quick pick lotto every week, instead put on crypto, recently just quardruple my portfolio.
NEO = Lambo
Amen, my fellow Crytonian brother.
All on black
eneloops
surprised it wasn't mentioned earlier.
Or if you can't get any good deals on eneloops, upgrade your car to a Camry.
Purchase all the stuff you dont need on OZbargain using cashrewards!
Haha that sounds like it would be fun!
Is P2P lending a good option?
The higher the estimated return, the higher the risk.
What shares are suitable for she growth in the short term?
No one will tell you that - have to do your own research.
Yep I understand that, thanks very much.. Makes sense with the P2P lending too.
All on red.
Lol
BITCOIN!
Bitcoins
Jeffgee:
There really isn't a path to quick fortune without risk. Essentially higher risk = higher returns but there's no guarantees it'll fit your timeframe exactly. Personally I would ignore the calls to invest in cryptocurrency. You can make serious money "trading" this highly volatile currency if you know what you're doing, but I don't think any serious "investor" would see this as an investment. (Trading vs investing are two very different things). You're better off investing in an index fund but contribute regularly to cost average.
I would suggest trying to take advantage of government initiatives to help first home buyers save up as these are actually "free" money. Not being a first home saver any more I'm not too well versed with the new superannuation savings strategies but essentially it's free money from the government (Well I guess I'm paying for it!)
Thanks a lot and I probably wouldn't be confident after reading about cryptocurrency to dive in as I really don't know enough! Appreciate the guidance.
Depends on how much risk you wanna take.
Low risk - chuck it in a bank account and earn your 3%.
Low-ish risk - invest it all through Acorns.
Medium risk - buy some bog standard asx 200 shares.
High-ish risk - buy some shares in small companies that have a presence in the market (e.g. NextDC, some small miners etc.)
High risk - buy shares in a company that may or may not actually make any money in the long run (e.g. weed industry related shares, new stocks, innovative startups)I personally have a spread across all of these except bank savings..
Thanks so mush mate, I've currently got an acorns account and term deposit. I sold shares earlier in the year and it wasn't a great experience for me - long term probably didn't lose, but could have sold for 8 times as much just a year ago, so reluctant to try shares when I acknowledge I know very little. What do you think about peer to peer lending?
No experience in it. From what I'm gathering it would mean that you would actually have to find someone to lend your money to.. If it was easy and foolproof then everyone would be doing it over term deposits.
Yeah that's true, it seems relatively safe and more than a term deposit..
That's the only useful answer so far.
WINX !!
Haha… Yes very tempting!
$15K x $1.10 = $16.5K
better than bank interest !
EASY MONEY ….. Phew ….long head margin, never in doubt !
The Ozbargain community has been lagging behind on their financial advisory role. It is well documented that you need to first of all accumulate a wealth of 80k, in order to invest in the ultimate portfolio - a car.
This is in fact, recommended and approved by one of our very own Westpac Investment Analyst here on Ozbargain. There you have it - the secret to retiring early. All I ask is that you remember me when you're rich and pay your tributes to the genius who thought of it first.
A Car - the ultimate high yield investment for the fresh grad
I was actually coming here to say that 15k is a good deposit for a 80k car.
B O O R ING !
bitcoin
god damn i hope you took my advice
Cryptocurrency! You can make x10 returns easily when people get hyped up!
Yes it looks like a great option, I'm just a little reluctant because I know so little!
craps
For those who are intocrypto, what are your thoughts on IOTA?
Hey Jeffgee, I've seen similar questions to yours asked many times on this forum and elsewhere, and have also had this question myself.
I've summarised my thoughts in this article.
A few posters earlier on have mentioned some of these points already.
Basically:
- Figure out what you need your savings for in the future
- This will help determine how much risk you are willing to take
- Assign % categories based off your risk/reward preferenceThese categories should then be invested separately in either or all of:
- A high interest online savings account
- A mutual fund or exchange traded fundThese are all conservative options. If you had a higher risk/reward preference then some of Rambutann's suggestions above would be more pertinent.
Thanks that's helpful, yeah I am more conservative I think but I mean it isn't a huge amount of money so I was interested in options that may be a bit riskier that offer faster growth. Appreciate your advice, it's the way to go I think.
Ask the same question on Reddit. You might get more useful answers mate.
Haha thanks, I suppose it's not a great question but not being from an investment or finance industry I thought I'd see if there are any modern or popular ways to invest other than what I was already aware of!
Invest in blue chip cryptocurrencies and come back in 5 years
All on black