Hey All,
I've got about $300k sitting in a 'high' interest savings account (measly 5%) which I think could be made better use of.
The interest is a pittance and I think it can be used for potentially better returns elsewhere.
A bit of background about myself. Mid 30s with house paid off in Sydney. Living abroad in SEA. Would like to discover different flows of income.
Please help me out with any ideas. Cheers
I track my investments using an IRR spreadsheet
last FY my best result was IVV (Au ETF tracking US S&P500) which showed 37%pa return
in regular emails I think I saw it as showing more like 80% in the last 1 year
so that's better than 5% from a bank (who uses your money to get the bigger returns)
second best was FANG (Au ETF) at 35%pa last FY
third was an investment property and managed funds at 16%pa, shares at mostly 12-14%, then some poorer shares at 4% to minus 1%.
So on my experience I'd say buy IVV.
That's if you want to use the funds to e.g. buy an investment property later.
If you're happy to park it until retirement, then I'd put it in super international shares which I just checked - mine showed 29%pa last 1 year, averaging 13%pa over the last ten years. If you haven't already done so you can park maybe $330K into super as a non-concessional contribution using the 3-year bring forward rule (like 3 years contributions in 1 - then you can't contribute any more until 3 years time).
LMAO i said the exact same thing 1 day before you and I got negged
got both IVV and FANG there
people in this forum are fxked
Mezz loans.
depends on your investment 'timeline' - seek professional financial advice would be my advice
however my opinion is if you are going to use the money in the next 3 years i'd just keep it in a HISA if you have investment time lines longer than 3 years EFTs like IVV, VAS, QUAL, QHAL ETC
or property but not just any property ideally something with a bit of land try avoid apartment which have high body corp fees and low capital growth. - id also steer clear of Victoria which has way too much tax on property investors now, QLD seems to be growing pretty well
risk of other states initiating similar land tax policies due to the sizable exodus of investor money out of Vic pushing up their land prices with local state voters up in arms.
Where else but a high yield luxury automobile my friend
Bathroom renovations in Udon Thani, or reselling boy George watches, I'll do a five point bulletin on it later.
Waiting on this..
If you a (profanity) you can park it in index funds or ETFs, stocks, etc and live off of dividends. If u a gangsta then you would gamble it away with stock options.
Assume that you have achieved or on the way to achieve FIRE, congrats mate!
The measly 5% is great considering it's risk free. As others have pointed out there's potentially great returns to be had in the stock market however given the current lofty levels, I wouldn't be throwing my whole savings balance in there unless you're happy to play the long game.
When you come back you find Penny has sold the joint to her Malaysia the day before she hands it to the first migrants….
great time to buy bitcoin.
Would love to know how to get even close to $300K in savings!
Dividend-paying stocks. Also, know that $300k is halfway to $1m if you believe the guys over on reddit; https://www.reddit.com/r/financialindependence/comments/18a7…
Well don't get married or defacto lol. Nearly 40% chance of failure, with 50% loss of all assets including super. Unless they can match your wealth. Good luck.
Or… have a prenup in place?
not worth the paper they're printed on in Australia. judges can rip them up for any number of causes.
Gold and silver for the win………just have to wait for the inevitable collapse of the fiat monetary system.
Apartment in Melbourne.
You could consider being a money partner with professional property flippers. You can get excellent, fairly risk free returns.
There's many different ways.
People who have gained from crypto, will recommend crypto
People who have gained from property, will recommend property
People who have gained from stocks, will recommend stocks
People who have gained from gold, will recommend gold
I recommend you invest in what you understand…if you don't understand that thing, learn to understand it. The people that get burnt the most from investing are those that jump in without fully understanding it.
Either that or start a fairy bread food truck, untapped market i tell ya, and everybody loves fairy bread
No fairy bread if your school bans it cuz:
https://www.news.com.au/lifestyle/parenting/school-life/sout…
That's just free publicity
depends on your risk appetite. Stocks (EFTs) are usually better in the long run but goes up and down - are you okay with that on a regular basis. Savings account just goes up and you don't have to think about it too much apart from moving it to a highest interest rate account.
If you lived in Argentina you'd currently have a $40 a day cash withdrawal limit
I've got room in my garage
Troll thread
OP hasn’t replied in three days
Soon I guess someone will post “Where to park 10 million in cash? I earned it by working for the NDIS scheme”
That wouldn't be trolling. Billions being lost by taxpayer to ndis fraud schemes. Someones getting rich
yeah its those poor old corps though. Probably paying no tax. Thats OK for some reason.
poll required…
Superannuation?
Investing in your financial knowledge 😁
Bikies.
Bitcoin.