My situation is that I've saved a bit of money over the past 2 years and I'm looking for ways to park my money at the moment or investments in myself. I am currently a third year university student living at home with my parents and probably going to enter the workforce in the next year or so.
What to do with 50k savings?
L[Deactivated] on 03/05/2019 - 23:35
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Pokies
All on red
Always bet on black
Bet on both that way you will nearly always win.
well, I have seen zero on repeat and that's scary. LoL.
High yield $80k investment car
Gift to me
you spelt tuzii wrong.
Most of the comments here are jokes but I am curious what kind of investment would be worthy if you have 50K.
Do you have any plan to open a small business? Invest some of that 50K to buy some stocks? I'm curious what people think as well~
Not particularly looking to open a small business, as I said, I'm looking to join the workforce after I graduate, however, maybe in the distant future.
For stocks, I'm a bit bearish on the market at the moment, what do others think?
I agree.. id put it in a savings account for the meantime..
As for stocks, the trend is your friend.
Buy off the plan apartment in Sydney, remove carpet, replace with cheap floating timber floor, buy a imported investment car, Jeep, Audi, BMW. Get it wrapped in vinyl. Buy a 80 inch 4K tv
Do a project manager cert, buy some sort of hybrid dog, Belgium greyhound, polish lavradoodle EtcWhat's an example of an investment car?
Speak to a financial advisor. Look into ETF's if you aren't financially literate.
What's an example of an investment car?
Oh boy…
They're just messing with you…
If you want guaranteed returns, a negotiated term deposit around about 3%. Slightly more risk is to parallel the superannuation balanced option which has been pretty consistent with 5% in many half years and the occasional 0-1% rocky half. Hostplus balanced has performed really well IMHO for a very long period of time. Don't put your money in super, but do look for an ETF that is close, if it was me.
You can get 2.8 saving account with Rams as an alternate to Term deposit - that way can move funds to alternate options when he pleases as opposed to waiting for end of term.
Check canstar for other options - ME and UBank offer 2.85 / 2.87 respectively per month if you meet the criteria.
I personally go with Rams for my savings as I don't need to make any transactions and it's also Westpac owned so less likely to collapse at any time
Ubank is owned by NAB, ME is independent, but unless you have over $250,000 with them the government guarantees amounts below that so you actually have nothing to worry about.
Is that 250k per account or cumulative savings that the government 'guarantees'?
RateSetter. For 3 years you can get about 7.5 to 8% after fees (but before tax). It's a lending platform so there's a small amount of risk of losing capital if a larger than expected number of borrowers start defaulting on loans. Hasn't happened before, but no guarantees.
Otherwise park it in ING Direct for 2.8% guaranteed. You might get slightly higher by shopping around.
What sort of part time job allowed you to save $50k in 2 years if you don't mind me asking? So you didnt buy anything at all then? I need that self control…inspire me…I need to get my life together.
I did get lucky on the crypto wave a bit but mainly just a saving mentality, I don't spend what I don't need, I only spend big on travelling really
I did get lucky on the crypto wave a bit
Hope you declared those capital gains in your yearly tax return ;)
Term deposit - low risk = low rewards, but it’s a guaranteed return.
buy a bunch of bulk low cost crap and sell it at random markets for 50x the price - just say it is all 'hand made'
And set up an ebay business showing you are in Australia but really you do all the dropshipping from China. Seems to be a trend lately!
ubank saver account, its got 2.87% interest
Collect 80's movie memorabilia
Get a loan and buy an investment property :)
Invest it in a sportsbet account
post on ozbargain.