27 Years Old Millionaire. What Investments Do You Think I Should Do for The Future

shamid202 on 23/02/2018 - 16:27
Last edited 23/02/2018 - 23:46 by 1 other user

Hi Guys

I am a 27 year old millionaire. I rent a house, have a very normal sedan car and I have worked hard these years and earned some money.

To be honest I have good ideas where to invest my money. but i was looking to see if i can find better ideas.

I am looking for something with around 8% return a year without much hassle. I already run a business so i can't put much time in something else.

By the way i know how to manage the business by investing the earned money inside my business or buying a house, luxury car and these thing. I am talking about the extra cash i have.

**update, im going to invest 10% of the money to open a franchise. I won't be able to run the franchise. so my father will be in charge.

Financial

closed Comments

        • Dave Bowman on 26/02/2018 - 11:12
          +1

          @idonotknowwhy: or $10,000,000

        • idonotknowwhy on 26/02/2018 - 11:34

          @Klayemore: Hope so :)

          Probably not though.
          There is currently 11 trillion US dollars in the world, and 80 trillion US dollars worth of fiat currency in the world.

          For a 100k investment in bitcoin to become $10,000,000, then the bitcoin market cap would be 16 trillion dollars, or 20% of the world's wealth.

          One can dream though :)

        • Dave Bowman on 27/02/2018 - 09:27
          +1

          @idonotknowwhy: Don't invest in Bitcoin, there are plenty of other projects that have potential for huge growth this year. I'm in Nebulas (NAS), Matrix (MAN), Genesis Vision (GVT) and NEO

        • idonotknowwhy on 27/02/2018 - 10:52
          +1

          @Klayemore: dw, my blockfolio is diverse ;)

        • Dave Bowman on 27/02/2018 - 15:57
          +1

          @idonotknowwhy: Nice one. Good luck!

  • Ruckmauler on 24/02/2018 - 11:19

    How long can you lock the money away - put that in the OP - without that it is impossible to make an educated comment.

  • algy on 24/02/2018 - 11:32
    +3

    Can't believe nobody else has said vanguard ETF's. Go for VAS and VGS.

  • SlickMick on 24/02/2018 - 11:45
    +1

    Dang read the lot and didn't see a single useful answer.

    I want to find a reliable 8% return then my super would be sorted. (Did op really say 15% initially!!??)
    A friend got a 9% term deposit for 5 years. I was late to the party and only got 8%. I would have taken everything out of shares and put in term deposits if I could still get 8%.

    I have 1/2 super in company bonds paying ~6% + 90 day rate.
    I think I'll continue to seek more of these out.

    One day interest rates will rise and I can retire … or get new bonds as those are recalled :(

    • shamid202 on 24/02/2018 - 11:46

      Thats a good option definitely. Unfortunately if the rates rises the money will lose its value at the same rate. you will get more money less value

      • SlickMick on 24/02/2018 - 12:01

        Being indexed to the bank bill rate takes care of that. 6% above inflation will beat stocks in the long run and far less sweat.

    • lousy on 25/02/2018 - 09:21

      There are many shares which yield circa 8 percent dividend

      • SlickMick on 26/02/2018 - 15:17

        for the rest of my life?

  • [Deactivated] on 24/02/2018 - 11:49

    Inheritance ?
    950 000 then took it to the hoop!

  • Muttley on 24/02/2018 - 12:09

    Forager has been doing well with my savings for a couple of years now.

  • kylarstern on 24/02/2018 - 12:39
    +3

    You've come to the right place. These Ozbargain forums are the best place for financial advice for a millionaire.
    Because we all know this is how Warren Buffett and Richard Branson made their millions.

    • HeWhoKnows on 24/02/2018 - 13:28

      Warren Buffet bought the banks when they were rock bottom and has made a motza out of them.
      Yes, just follow what Warren Buffet does - Branson - mayne not.

  • stralya on 24/02/2018 - 12:41

    LICs (Listed Investment Companies) & pick the well managed ones. They manage to get 8%

  • HeWhoKnows on 24/02/2018 - 13:27
    +3

    Not much returning 8% without significant risk.
    Stock market is at dizzy highs
    Bitcoin is all over the place
    Property looks like it has stalled and is currently a bad investment anyway.
    I would look a stocks paying 5% or more dividends as this grosses out to 8% if fully franked.
    Just be careful

    • shamid202 on 24/02/2018 - 13:58

      thanks

      • HeWhoKnows on 04/03/2018 - 15:02

        Spread the risk as any expert will tell you. Dont put all your money in one place

  • dufflover on 24/02/2018 - 13:59
    +3

    If you made so much off gambling on crypto - the only realistic way to make that much money in cash unless you have a super good job, or your just lying - then why do you need people's advice? You've obviously picked better investments than me and most others to make that much!

  • myusername on 24/02/2018 - 14:42

    so did mummy and daddy give you your first million?

    sounds like it

    • activ8newbs on 26/02/2018 - 23:07
      -4

      Why so jealous lol?

      Relax. Such a shame that you're so insecure.

      • idonotknowwhy on 27/02/2018 - 10:39

        Can I borrow like $12 for lunch?

      • myusername on 28/02/2018 - 08:29

        yep op has confirmed loser status

  • JTTheMan on 24/02/2018 - 14:50

    Whatever you do, don't waste your 20's!

    • shamid202 on 25/02/2018 - 10:36

      i hope i am not wasting it. what would you do if you could use your 20s

      • JTTheMan on 26/02/2018 - 12:54

        It doesn't matter when you look back as it's too late. You can't take it with you!

        I suppose there is no real answer to that question and it's different for everyone.

        The only thing that's not different is that we all get old and die. Yes, it's good to be smart with your money when you're young but keep a balance, don't live for the future too much, remember to live in the present. I wish I knew the exact way to do that but I hope you know what I mean?

  • backpaqer on 24/02/2018 - 14:55

    Move to Sri Lanka…become multi-millionaire!

  • JetBombat on 24/02/2018 - 15:06

    By the way i know how to manage the business by investing the earned money inside my business or buying a house, luxury car and these thing. I am talking about the extra cash i have.

    Looks like you are sorted out with the financial side of life. Perhaps local charities or community investments might be beneficial for you to try next? That's something that most people never have chance to try in their lifetime.

  • Ruckmauler on 24/02/2018 - 15:08

    Personally I classify a millionaire as someone earning a million a year. If it is total assets then half of Sydney are millionaires. Look at ratesetter if you want to put some away for up to 5 years at 9% .

  • slosh on 24/02/2018 - 15:12
    +3

    Bitconnectttttt? It's on sale now for only 3USD

  • TheBilly on 24/02/2018 - 15:25
    +5

    The people that respond to this thread seriously make me loose a pinch of faith in human kind.

    • AussieMark on 24/02/2018 - 15:31

      Hahah just what I was thinking. My dad's a pilot and literally all his friends started treating him like crap when they he let slip his salary not thinking it would change anything

      • smuggler on 24/02/2018 - 16:16

        How much does your dad earn?

        My uncle flies charter in South-East Asia for 390k a year. I think I see him once every 4 years.

        • [Deactivated] on 24/02/2018 - 16:17
          +2

          What airliner?

        • smuggler on 24/02/2018 - 16:18
          +3

          @BrodenIt:

          No idea.

          He use to work for Malaysian Airlines then Etihad then training pilots in Malaysia. Now it's some private company that flies a lot of business yuppies around. He's in his fifties.

        • [Deactivated] on 24/02/2018 - 16:19
          +2

          @smuggler:
          That's nice, pay is awesome.

        • sky blu on 24/02/2018 - 18:57
          +1

          @smuggler: What does he smuggle?

        • smuggler on 24/02/2018 - 18:58
          +2

          @sky blu:

          Snooty businessmen

  • AussieMark on 24/02/2018 - 15:30
    +1

    Lol tall poppy ayndrome

    If he has or hasn't got it who cares.

    Congrats buddy well done! Stick it to the man lol

    Treat him good guys and OzBargain may get a donation woohoo!

  • stumo on 24/02/2018 - 15:42

    OP you need to get off your lazy arse and disrupt various industries like this other fantastic Ozbargain forumer.

  • [Deactivated] on 24/02/2018 - 16:20
    +2

    Invest in Early Stage Investments [Startups]. Seek advice from someone with a good track record in this kind of investment.
    As with any kind of investment of this type you need to accept that there are high risks, but the returns can be significant.

  • Toons on 24/02/2018 - 16:33

    Dry cleaning haven't met a broke one yet as with any franchise or service you need to ensure location doesn't have too much saturation or similar services near by.

    Ones open on direct thoroughfares from main transport centres to CBD office blocks do enough from just keeping the white collars clean.

  • idonotknowwhy on 24/02/2018 - 17:00
    +1

    Open an account at the bank of idonotknowwhy
    We'll take care you you

  • aimon on 24/02/2018 - 17:59
    -1

    Is that 1 million before or after you paid your tax?

    • idonotknowwhy on 24/02/2018 - 18:16
      +2

      Probably still sitting in his bitcoin wallet ;)

      • [Deactivated] on 24/02/2018 - 21:16
        +3

        ATO would love to get that nice beefy $450K CGT.

        • idonotknowwhy on 24/02/2018 - 21:51
          +3

          Indeed they would. That's why he should hodl4life!

  • robbo135 on 24/02/2018 - 18:32

    Invest in the Petro coin, even the basketcase economy of Venezuela has got on the crypto bandwagon !

  • Matslurpee on 24/02/2018 - 18:38

    Amazon stock.
    It went up 72% in the last 12 months.
    Going to go up another 30%+ over the next 12.

    Also, stop renting, buy your own place.

    • [Deactivated] on 24/02/2018 - 21:18

      I have at least 2 stocks in ASX went up 800% - 1200% in the last 11 months.

      • TightAl on 25/02/2018 - 11:43

        which ones?

      • Mikeologos on 26/02/2018 - 09:37
        +2

        No you didn’t.

  • SaberX on 24/02/2018 - 19:27
    +2

    With all due respect…only you can make the call between whether your million is sheer entrepreneurial skill or luck and timing difference.

    The one thing that worries me is your statement : "I already run a business so i can't put much time in something else.

    By the way i know how to manage the business by investing the earned money inside my business or buying a house, luxury car and these thing. I am talking about the extra cash i have."

    I dont think one with a sound business mind would normally conaider buying luxury cars as a sound business reinvestment. Now..if your idea was opportunistic i would take and run. If not and your truly entreprenurial skills turn decent profits then the answer is simple : reinvest in your business and yourself.

    Given your here on an ozbargain forum asking for said advice at your age i would be generalising and stereotyping in that i think i already know the answer.

    That said buy some sound quality assets with the money if your not sound to back your business. And get educated. Motor vehicles are not an investment. And big fancy mansions to live in arent either. They are a quicker path to wealth destruction for some who make but cant2 retain their wealth.

    • shamid202 on 25/02/2018 - 17:10

      Thanks for the comment. I didnt mean i want to buy a luxury car. Because i dont want people here to give me ideas on how to spend my money like travel, luxury car and how to enjoy i said that. Thats why in the beginning i said i have a normal car which i love it and it serves its purpose well and i rent my house.

      • SaberX on 25/02/2018 - 18:47
        +1

        Sorry… maybe I misinterpreted but the copy and paste i did seemed to indicate that?

        I think a pure financial pov would say don't waste your money on luxury cars. But if you get to the point where your rolling in millions like the Beckams or something then sure, what's a 150k car. THe moral of the story is generally luxury items are a waste of smart financial dollars - it just becomes more justifiable when you have so much of it (money). In reality a $50-100k 'nicer' car would not be as cool and flashy as a $300k sports car, but both would be a heck of a lot nicer than a $10-20k old second hand car. The all do the same job of getting you to point a to point b, but contrast 50k to $350k and your paying 7 x more for more than 7 x the utility ? I think not…

        I would definitely advocate economical travelling - i.e. if you were an average wage earner, in an average/ok'ish accommodation, go do the travelling and sightseeing and experiences normal people would, provided time out of your business permits. Its just a way to enjoy and see life. And frankly, squeezing into a yakitori bar with 6 seats in downtown Shinjuku in Tokyo is an experience that rich folk who would rather dine at the Ritz Carlton whilst overseas would miss.

        LIke i said though, if your business is sound and not just a good luck/timing thing, continue to reinvest and earn more money. Ideally if you enjoy it with a passion - or are you just in it for the money?

        In the meantime financially you can't go wrong with a simple old timed strategy: an average nice house, that's yours - fully paid or mostly, and a portfolio of shares and alternative investments. If all else goes wrong at least you have a place to live in an investments to boot, whilst you can go back into a paid wage job if neeed be.

  • Herbse on 24/02/2018 - 19:40

    Prove it

    • idonotknowwhy on 25/02/2018 - 11:01
      +1

      Yeah, get him to sign a message with his bitcoin privatekey and then post the signed message here.

  • AppleLime on 24/02/2018 - 20:26

    If you are a millionaire why are you still renting and drives a normal sedan car? You are too humble I suppose!

    • idonotknowwhy on 25/02/2018 - 11:02

      Note that if I were a millionaire, I would still be renting as well.
      $1,000,000 can't buy a place where I want to live.

    • Hardly Normal on 25/02/2018 - 13:41

      Driving flash cars attracts attention from the police. Something you don't want if you deal drugs.

    • shamid202 on 25/02/2018 - 17:14
      +1

      Because once you pass the avarage income and can pay up your bills and stay out of debt. The quality of your life wont change dramatically if you earn a lot more. Also whats the point of having a lambo, to show it off? It would be a lot of fun but its not a practical car for everyday use.

    • SaberX on 25/02/2018 - 18:50

      exactly @shamid202 - good thinking. It's the non-millionaires who normally want the lambos and showy items. Nothing wrong with being a millionaire with a sedan. There's actually a common thread of frugality on those who become and "stay" rich, driving modest cars and homes, and those dropping it out on girls and booze when they come across fortune. IT isn't the rule, as some millionaires are so rich they drop money on everything, but many wealthy folks instill this common thinking and habits for a reason. Probably one part of why they stay wealthy in the first place.

  • [Deactivated] on 24/02/2018 - 20:29

    I heard ENRON is a good option

  • bad hombre on 24/02/2018 - 20:44

    https://www.gizmodo.com.au/2018/02/steven-seagal-endorses-sh…

    I like how they represent the commision structure. So easy to get your head around.

  • 2024 on 24/02/2018 - 21:12
    +2

    12.5X $80k cars.
    I love the negs,almost as much as I love Ozbargain memes

  • Aniseed Steed on 24/02/2018 - 21:48

    Move to Montana, I'll teach you how to become a dental floss tycoon.

  • cockneylondoner on 24/02/2018 - 22:09
    +3

    This is a wind-up, isn't it?
    Here's a suggestion OP - GO GET A LIFE.

  • echelon6 on 24/02/2018 - 22:09
    +1

    Congratulations on being average!

    Source below - average Sydney household is worth 1.3M

    http://www.smh.com.au/federal-politics/political-news/austra…

    • shamid202 on 25/02/2018 - 17:17
      -1

      Having millions in cash under 30 I believe is an achievement from someone who had below avarage family.
      People live in million $ houses with 70-90% debt

      • echelon6 on 26/02/2018 - 12:59

        It is an achievement, just not that rare, and also considering your gains are from crypto, is of less merit than from other avenues in my opinion. Nevertheless, a solid 5/7.

    • SaberX on 25/02/2018 - 18:50

      how much of that 1.3m household is equity versus debt…..

      • echelon6 on 26/02/2018 - 12:57

        All equity

        Definition of networth is all assets minus all debt.

  • FW190 on 24/02/2018 - 22:25
    +2

    Dick Smiths giftcards! (is that too soon?)

  • DonWilson on 24/02/2018 - 22:28

    If you're looking for a simple lump it all in and leave it approximately forever option then go with VDHG. Basically you're investing in the world economy overall and the likelihood it'll grow over time, which it has done fairly reliably in the past.

  • [Deactivated] on 24/02/2018 - 22:56
    +6

    OP posted some dodgy topics before:

    https://www.ozbargain.com.au/node/277649

    https://www.ozbargain.com.au/node/213358

    I wouldn't take the million dollar topic too seriously.

  • ozzpete on 24/02/2018 - 23:33

    OP.Without a lot more info, its difficult (or impossible) to advise you correctly to best suit your needs (which we dont know) .
    If you dont require access to funds until like 20 years from now etc, then property is almost always a sound investment over very long term.
    I would suggest 'invest in yourself' as you seem to have done quite well so far. But again, not kmowing you, your skills, how you got the million you have, and other factors, makes it hard . ie. If you got lucky somehow, to get million so far, then do NOT invest in yourself. If you have tonnes of great ideas and innovations then invest in making your ideas come to fruition.
    You could also do a whole lot of good also with a million dollars, not all dividends need be monetary.

    • shamid202 on 25/02/2018 - 17:18

      Very helpful thanks

  • luvyrselfish on 25/02/2018 - 00:01
    +1

    Invest half of it on yourself, no matter podcast subscription or travel around the world, as long as you use the other half of the money to have professionals document and market that topic/review online & make it viral. Might even be able to publish a book at the end, the worst title could be how I spent my 1st million to make trillions

  • Slothme on 25/02/2018 - 00:40

    365$ Consultantation fee PM me :)

  • ssamba on 25/02/2018 - 00:57

    What the heck are you doing in ozbargain, 27 year old millionaire? lol

    • eatwell365 on 26/02/2018 - 02:59
      +1

      same people who likes to talk on the phone about buying $10 million apartment in a crowded escalator?

      • ssamba on 26/02/2018 - 17:22

        haha nice lol

      • kiitos on 07/08/2020 - 13:51

        How can you fit an apartment into an elevator, let alone a $10m one???

  • Trying2SaveABuck on 25/02/2018 - 01:27

    Contrast this guys life with mine im 27 and in mass debt working about 45 hours a week struggling to make over 100k a year before taxes.

    Makes me want to cry!!

    Good on you for getting on the millionaires list before your 30!!!

    But in all honest if it was me and i was single i would put the money in the bank live off the interest for a year maybe save an addition 20-30k along with 20-30k of interest i'd spend a year seeing the world, loose women and going on adventures.

    • KLoNe on 25/02/2018 - 08:27

      You don't need to be a millionaire to get loose women or go on adventures - seeing the world is debatable though.

      • idonotknowwhy on 25/02/2018 - 11:11

        You don't need to be a millionaire to get loose women

        But if you are a millionaire and perusing this interest, invest in a vasectomy.
        Unlike women, men have no rights to opt-out of parenthood.

    • SaberX on 25/02/2018 - 18:52
      +1

      re-evaluate your situation mate, near 100k a year is pretty good coin. it may be lifestyle and debt habits holding you back - at 27 that's a doable wage.

      • Trying2SaveABuck on 27/02/2018 - 09:19

        Probably should clarify the debt was from 3 properties - sold 1 now its 2 for me and my partner owe less money but still sitting pretty much burred in debt and when we buy another property at the end of this year or start of next im going to be swimming in debt again :((((

        • SaberX on 28/02/2018 - 13:20

          Why are you buying another property then if your already struggling buried in debt? Why not just focus on paying down your existing 2

  • Elitebhy on 25/02/2018 - 07:45

    Do you qualify as a sophisticated investor under s708 of the Corporations Act?

  • Dreamcast on 25/02/2018 - 08:27
    +2

    Penis reduction. Great investment. You'll lose 8% though.

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