Any ideas? Other than earning the meager bank interest rate of 0.2?
Currently receives the the pension from gov
Pensioner with Networth of 60k Safe Investments
Mokr on 11/12/2021 - 17:42
Comments
How safe? Is there any level of risk acceptable? HISA you should be able to get around 1% and there's basically zero risk.
Banks offer special products for pension accounts, similar to term deposits. Need to enquire.
Alternatively, could look at going via market into Vanguard or similar ETF but risk is high.
With such a low safety net, they need to think strategically -
- do they have a house
- how close are they to needing supported living or aged careReason being, last I checked the Commonwealth Supported Place cut off was $45k (double check). If Granny is 5 years from nursing home then you actually want to look at spending money, not accruing it.
There are Government limits on what can be spent per annum before it's considered evasion of the limits.
Reasonable expenses could be paying for funeral and home upgrades for liveability.
Gran/pa needs to seek financial advice from an independent Senior advocate. Salvos and Vinnies can help.
In before all on black
But then they'll never go back
Sorry, I have no suggestions for pensioners. They're already on a budget and should be focusing on paying bills and buying food.
60 K worth of safe investments ?
This doesn't feel safe at all in my opinion, 60K is not even close enough money for retiring (especially with the current inflation rates). Just saying that pensioner is probably likely to be forced to worked longer than his desired retirement age. I think to retire properly need like at minimum 300K of investments (5x 60K) or more
No one said anything about retiring. They could've been retired for 20 years for all we know. They have $60k that they want to invest safely, not be told they need to go back and earn another $240k
I can recommend Australian Unity property Income Fund, they pay every 3 months and a net yield of 5%. They own solid property so its safe, as the properties are tenanted and return rents.
It's wasn't me but you should stop shilling 5% returns.
no I wont stop, it is the best move I ever made, and, more than I could have hoped for.
What is the APY after taxes and inflation?
Somewhere below 1.0%?
so your only risk is housing crash?
@rektrading: you are obviously not a financial adviser, you wouldnt know a good investment from peanuts.
Depends on how long you want to hold?
Dollar cost average into BTC/ETH/an alt, on a weekly basis or otherwise. Safe, high return, future-proofed and easy to set up. There's better options, but that's the safest.
I think you forgot the /s in closing your comment.
Don't worry I wasn't expecting any positive votes but I do mean it
but that's the safest
I think you may need to re asses your definition of "safest" for investment options…
Anyone that bought before mid-February 2021 and between June and October 2021 is in profit.
It's now just a matter of DCA and/or BTFD.
What are their expenses like?
With 60k only they might want to consider part time work..Safe is getting you 0.2%.
If they're willing to take a little bit of risk, maybe they should invest a dividend stock like Telstra.
Apple shares?
In what time period do they need to have access and use the 60k? (ie: 30 days, 6 months, 1 year, 5 years, 10 years?)
And would they be able to stomach a 25-50% drop in value?
Anything less than 1 year, high interest online saver. Anything more than that, ASX DHHF.
Pensioners on social security don't have discretionary income. It would be financially irresponsible to suggest that they dump money in assets that aren't pegged to fiat money.
There is a big bubble that's got to blow up at some time but in the meantime if you're not in the stock market or property you're losing badly. So what to do with 60k? Put it in an EFT, pray it does as well as this year and doesn't blow up in your face.
https://www.vanguard.com.au/personal/products/en/overview/et…
Down -19% is a cheap buy.
Is the Westpac (ASX:WBC) share price a buy after falling 19% in 6 weeks?
James Mickleboro | December 12, 2021 11:10am
https://www.fool.com.au/2021/12/12/is-the-westpac-asxwbc-sha…It's "too big" to fail is a safe bet and guaranteed by the feds using taxpayer money.
How much risk are they willing to take?
paging rektrading@