Asking for a friend…
Which is the best place to invest $1000 a month in Australia?
Investment of $1000 a Month
Comments
May be you can provide details here and I can discuss with my friend if he likes the idea.
It will be helpful for other ozbargain members as well.
Invest in specks
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Pay off your mortgage maybe or lease a high yield vehicle
He wants to make money with money. And looking for ideas. If nothing looks good, he will probably pay extra for his loans.
Or ask your friend to put it all on red. Essentially it’s 50:50 chance of winning all or losing all. Plus they will feel alive for a brief moment of time before losing it all.
No it's not.
It's really 36:37 or 36:38 chance i.e. more chances of loosing than winning
With the volatility in the markets and questions around the housing bubble, unfortunately ETF's and term deposits are really the only reliable places.
You could go chasing gold or individual companies but this is a once in a lifetime event and no one knows where it'll go.Do you know any reliable website to invest in ETF's?
I don't have any knowledge about investing. And my friend asked to find out. So, I am trying to explain him as much as I can.
You can invest in ETFs on any ASX share trading site. E.g. Commsec, or Self Wealth (fees are a bit cheaper).
There are many providers of ETFs. Vanguard is a popular one. You buy the ETF like you would any other share. E.g. VAS is the stock code for Vanguard's top 300 ASX ETF.
If your friend is a total noob at investing and just looking to diversify from cash/property; VDHG is a relatively well-rounded option. (Note that it pays dividends as well, so if the performance doesn't look great you need to consider that it has paid out 3-5% p.a. in dividends too).
thank you
spend $999 buying a nice gun to rob a bank and $1 on a coffee from 7/11 to get yourself juiced up for it
Haha..good one
crypto, stocks and gold
crypto has grown a lot already. Will it be good to still invest in them?
I know only Bitcoin. Are there any other cryptos out there?
Absolutely, people make lots on it.
Bitcoin and many more.Absolutely, people make lots on it.
plenty also lose lots ;)
raiz
Both of us are doing that but only the 10$ a month in that. :P
Not sure if investing bigger amount is good in raiz.
Rice dispensers.
what's that?
It's like a pez dispenser.
But with rice.
vdhg
Is there any website to invest in that?
Yes, at coles.
Should really do some research online for the basics. Invest on your research skills, and asking people for the answer is not research.
hmmm
They have a website now where you can invest for a management fee.
Yep I'd recommend SelfWealth, $9.50/trade I believe. You could also look into CommSec Pocket, $2/trade under $1000. Generally it's preferable to pay a one off transaction fee, rather than a ongoing annual fee of 0.2 with Vanguard Personal Investor
ok
$1 coins. They're shiny, durable and hard to steal in large quantities.
Hahahaa
You haven't mentioned time frame but assuming you mean a set and forget option for the next decade or so
Vanguard online account and monthly ETF buys of something like vdhg
The diversity aspect is lessened and you don't need to diy your own asset allocation split ( which if you're asking this question, investment and stock market knowledge isn't your background, so let them handle that)
(The savings I put aside monthly for my kids goes into exactly this setup)
Thank you SBOB.
Will check this out.
Do you have any debt? Pay them off first.
My friend has loans.
And, to pay extra each month is his last option.
sponsor a child in africa
Will ask my friend, if he is interested in that. Please share details.
Pay your loans off!
If none, don't take a new loan - save up and live your life (travel, learn something)
He is interested in making money through money.
How's much is the loan balance and interest rate?
Don't know… Never asked him.
Commsec Pocket to invest in diversified ETFs without really needing to know what you're doing
Great. Will check that out.
Thank you
cRyPTo
Details please?
You need to decipher the comment.
Crown Casino (on the inside, not via ASX)
hahahaha… No gambling
any investment is a gamble too
There is a difference between using an investment instrument to accumulate wealth and gambling at a casino. The losses from the former may be used for tax avoidance while the latter often requires a private ruling from the tax authorities.
If you just want the best return and don't need to spend the money any time soon then investing in your super is by far the best option. You can invest up to $25,000 per year and only pay 15% tax on it instead of your normal income tax rate (32.5% for most people). It's effectively a 26% ROI immediately plus whatever gains are made by the fund.
Locking up $25k for 30 years is pretty bad from a liquidity point of view.
People with their own business will buy cars and expense it but won't pay into their super.
Plus you can't be flashy with your super until you are old which defeats the purpose for most people.
I'll give you a +1 for being brave to mention it.
Without timeframe provided, could consider salary sacrifice all in super.
Your short, nonspecific question on behalf of your friend can give the impression you're looking for a one size fits all answer. If you want more serious responses you gotta provide more details. Help your friend to develop SMART (the acronym) goals and share it here.
Not financial advice here although can't see it being one… GL
hmm… he just thought of investing somewhere rather than spending it on unnecessary items.
Wellllll investing without goals is kinda like gambling, as they say on Dragon Den.
Not against talking ideas over beers. If a high school kid asks you what should he do after school, what would you say? We are only asking more specific to help.
Reading your other responses read you are gathering different ways to talk to your friend. Here, read this https://passiveinvestingaustralia.com/ . Preempt you and your friends question there is no best way to invest 1k a month. GL
Which is the best place to invest $1000 a month in Australia?
I heard importing face masks and sanitiser is a good investment…
Prices have dropped considerably since this turned out to be a non-event.
Could have gone the other way. Whether it was luck or good management I'll let everyone else decide.
That would have been the case back in Feb/March. You are a bit too late now as the local markets are saturated with these products.
If you don't think you've maxed out your earning potential invest in yourself first (a skill in demand).
Wipe out all your non tax deductible loans. Then change all your tax deductible loans to lower interest rates loans.
THEN look at investing your surplus cash.
Panic buy toilet paper. There's a massive spike in COVID cases in Europe and the Australian people will naturally panic. Great profits to be had when you sell TP for $55 a roll.
Crypto
Even stable coins which are pegged to fiat currencies can earn you 12% pa and they are lower risk than Bitcoin and others. If he's willing to take bigger risks, there's plenty to choose from. Bigger risks = potential bigger gains but also potential bigger losses.
I can invest it for you