Hi people of ozbargain………………………been reading and getting deals for a long time from this website……..i will be getting $350,000 from grandparents in the next 3 months, in this day and age would this be enough to invest into something to retire in 10 years. I have a 70k job at the moment.
Where would you invest this cash? Thanks
I will put $150,000 on FMG once my buy price triggers. I can't believe i never discovered FMG back in 2019-2020….
@Rac00n: Well make sure you know what you doing, this could be a long hold. I think you should start small and then go from there. But each to their own.
By the way, you cant use the price of 2019/2020 as a guideline as long term average price of IO is around 73USD. Its still way above the historical average.
Personally, Gold or Silver ETFs (like GDX GDXJ, etc)
not investment advice, do your own research and speak to your own financial professional
in this day and age would this be enough to invest into something to retire in 10 years
SUre, if you invest in crypto and it 100x's or you invest in the next unicorn start up that's currently at $1 and will be at $400 in 10 years.
RacOOn, yes , Asx FMG has been giving their shareholders around 9.80% ( also 100% franked) since 2011. China definitely won't go to drain at least for the next 5 years.China needs Australian irons badly more than from any country. They are not only building their own , but got jobs from other countries too such SouthEast ASIA COUNTRIES.I would like to suggest you put $200,000 into this share and diversify the rest , such as into some banks shares , or property trusts such as Bwp, RGN ( burnnings, Woolworth Property Trust). The latter two shares are more stable but yield only 6% return ( not franked).
China has massive stock piles of iron ore, larger than they have ever been (around 150m tons), they are also investing heavily in places like africa to get away from their reliance on AU Iron Ore.
Active or passive investor? This is probably the first question you need to answer. Perhaps have a read of articles on smartmoney.com.au. Also consider making an appointment with Centrelink's , Financial Information Service . A free service - they will give you a written report outlining your options, including tax implications & any possible future Centrelink payments. I did this a few years ago & found it very worthwhile - good luck
lol why do people keep putting "not financial advice"
what's someone online gonna do? call the cyberlawyers to cybersue you?
Go hug grandpa and grandma
and invest in low cost index funds trackers and hold long.
All on black
with the markets constantly making new ATH weekly, i would avoid doing any investing, you say within 3 months, so we should have a clearer picture of what the US is doing (new president) so the waters will be rough until after Q1 2025. my choice right now, move it into a high interest account for 6-12 months than make a choice.. forget property prices are too high
Yeah put it in cash and watch BTC, shares and houses reach all time highs in the next 12 months
This is how so many people miss the boat with shares, housing and many other investments. Trying to time the market is a losing bet.
Keep in mind that if Trump gets in then that may well crater the global economy due to his tariffs, mass deportation of migrant workers, and reducing/stopping military aid to Ukraine, resulting in losing both it and Moldova to Putin.
Best to wait and see for now.
Couldn't you spend a couple of grand (maybe even tax deductible?) finding out from a professional how to maximise the use of it, and talk about your risk appetite for it etc. Then the remaining 99% could be used to its greatest efficiency?
NOT CRYPTO
Or your friends business idea
I can honestly say the safest investment you can make is put it in a macquarie savings account @ 5%… no risk $17,500 per year for doing nothing.
Has anyone mentioned coke and hookers yet?
So far it's looking like i will be doing the following with the $350,000.
$100,000 will be added to my current position of IVV and that increases it to $270,000
$150,000 on FMG will wait if it drops to $13-$15
$50,000 on NDQ
$40,000 on Leveraged Etfs
$10,000 on LRV
When the refinance takes place for my apartment i will have additional $600,000 which i have not yet worked out what to invest in. My aim is to try and retire in 10 years max…sooner if my net worth doubles in the next 5-6 years.
I was thinking of buying an established business with the cash out from my apartment of $600,000 but can't see myself buying a headache and would rather that money on highly leveraged etfs over trying to run a business in Aus when half the population is broke.
you' re all over the place. leveraged etfs..trying to double money in 5 years..150k in a single stock without much industry or investing knowledge. gold at all time highs. there's so many red flags it's a parade. good luck mate
when half the population is broke.
Maybe they just want to be part of the team :)
Which bank is lending you $600k on $70k income? Please send them my way
None bank lender
You said
I currently have $170,000 portfolio mostly VAS
You also said
$100,000 will be added to my current position of IVV and that increases it to $270,000
Are you sure your story is 100% correct?
I assume he meant it increases his overall portfolio's size to $170k, not his position in IVV alone to $270k. Not expressed perfectly by the OP but easy enough to understand.
lol absolute moron, why would you have $270k tied up in shares that essentially are earning you nothing unless it pumps. That money in a savings account would earn you $15k a year, no risk.
Well, IVV has returned an average of over 15% for the last 10 years.
I'm not sure suggesting a savings account and calling them an 'absolute moron' is entirely the burn you're aiming for.
That money in a savings account would earn you $15k a year, no risk.
It sure would. Nothing more and nothing less. As the years go by its almost guaranteed to not keep up with inflation, whereas the shares will likely provide a return greater than inflation. No risk, no reward.
Why would i put it in a savinga account you flog. That barely keeps up with inflation. That's not investing thats for deadbeats like yourself.
Why would i put it in a savings account you flog. That barely keeps up with inflation. That's not investing thats for deadbeats like yourself.
Too much investment with no prior knowledge will burn you, sounds like a gamble rather than an investment.
Why not put $10k on each of them and keep the $300k in the bank first and then see which one outperforms? Makes no sense to invest the lot in one go.
I have also been looking at buying physical gold bullion 1kg-2kg if my equity is released, only way i would own gold is physical and nothing else. Looking at the price of gold it's a great hedge against collapse of fiat…..you never know.
You are kidding me. Physical gold is hard to store, where are you going to store it? One house break and they are gone for good.
Might as well buy an index fund if you are going to do that.
In a bank vault?
Wow lucky grandchildren. I received zero from all my grandparents.
Ahha same here. And from my parents.
Trust me, go see a Financial Planner.
The initial meeting will be free of charge and thy will provide you with the best personal advice.
May cost you $4-$5k but you'll make that back with the advice they give you.
Though you have to pick a good financial planner.
The only one I tried I expect would bankrupt OP.
I've assisted people with seeing FPs it is quite funny when you have worked in high finance for nearly 20 years and you go incognito and listen to these guys. The information is very basic and bias to how THEY think you should structure things, not really what is BEST for you.
What do you suggest then? No financial planner? I have being using quite a bit chatgpt and copilot.
@fozzie: FP's can be good, but like pretty much everything in life if you don't do your research before hand you may just end up losing the lot. Like every industry there are good and terrible ones and a few days of research about investment strategies and looking up who is a good FP could save you a lot of long term pain.
@fozzie: AI might not be a bad idea! You can get good FPs, the best one I've seen was also the most costly one, but he was also dealing with a very wealthy individual… You have to stay on top of your game with very wealthy people tho
I don't really want to engage a FP. I don't think they are worth even paying $100 for. They don't have anything different to recommend besides etfs and term deposits. If they did they would be retired themselves so kinda paying a loser to give me advice that is nothing different is pretty stupid IMO.
Rather spend that money giving it to a charity.
If you have the knowledge then absolutely invest it yourself. HOWEVER, your post/question suggests you really don't have the knowledge.
+1
HOWEVER, your post/question suggests you really don't have the knowledge.
That and the OP's comments in the thread to me show they're all over the map on how to handle things. Some people have to learn the hard way. And I don't think the OP needs an FP, but I think their investing knowledge could be improved significantly.
Good luck to him! He doesn’t know what to do then creates a new ozbargain profile to get free financial advice. Could also be just a troll. How can you he think about retiring at 40 we such a small amount its beyond me.
@Rac00n: Ahaha. Good luck troll. Also you are also on Ozbargain looking for financial advice. It’s quite sad tbh that you ask for help and then just personally attack people.
Financial planning is not risk taking for wealth generation. There is a difference here.
$350000. Casino all on black for fun.
Or 25% deposit on bog standard not fancy 2 bedroom house[not apartment] in Sydney which should double in price(or historically has) every 10-15 years and at the end of it (as long as PPR) tax free.
I’d buy house personally.
Didnt read thread but my first thought is to get proper advice and make sure you minimise tax on that inheritance.
the more I think about it…. this seems more like someone trying to pump IVV. Learner account, 1 post, claiming to be putting $300k into a ETF.. mods might want to look into this one.
Pump IVV? With a few hundred K?
An index fund that tracks the entire S&P 500, with a rough total value of $45 trillion USD.
That's a joke right?
The good thing about asking for financial advice on a forum is you get a good range of educated through to uneducated responses to read through
you realise how a pump works right? this guy says he's dropping $300k, then another person does the same and so on and so on.
think before you talk next time.
you realise how a pump works right? this guy says he's dropping $300k, then another person does the same and so on and so on.
you do realise the market cap of IVV right?
IVV.AU which its underlying holding of IVV.US has a Net Assets of Fund of $546 billion
Let me know what kind of impact you think someone on an AU forum, with a few hundred $k is going to make on an index tracking ETF with over 500 billion USD NAV, tracking the S&P500 with a market cap of 45 trillion USD.
IVV US average daily trading volume is about 5 million shares, at $581 USD per share.
You could hit 'market buy' on a $300k trade on Monday on IVV and you wouldn't even move the ticker, let alone barely register on any market watching bots as an 'interesting' trade
think before you talk next time.
checks notes
yep, seems about right
you don't/can't pump and dump with something like IVV, even 300k is drop in the ocean.
You are a clown thats for sure. No one is pumping anything. Get some sleep
Donate it to the ozbargain community -
Suggest only active accounts for the last 2 months.
Don’t know if it benefits you.
now that we have decided to pump IVV what's the best trading platform if we are going to lock $100k+ away for 10yrs?
In one trade? Stake, will cost you $3
I use Interactive Brokers
Vanguard, leave it to grow, then retire to a home in the country. Raise some chickens
buy some VAS
Not a fan of VAS, not enough returns and kind of like a deadbeat market. If the US collapses so will Aus so why not invest in higher return growth which is the US.
I will add an etf for bitcoin as well just in case it does go to $1,000,000 per bitcoin. Good hedge only adding $20,000 investment.
I will also buy 1KG of gold and get it stored at bank vault for a hedge against hyperinflation or society collapse.
When society collapses how are you going to get your gold out of the bank? I don't think any staff will be there. It's also the first place I'm going with my battery powered Ozito angle grinder and drill.
according to second hand beamer thread he bought a new M3 BMW 2 years ago and he is on $70k a year, I doubt he will have much left to invest if that is an indicator of his spending habits.
I suspect this post is a troll.
$200k towards an investment property in a growth area (ideally newer property for max depreciation) ie. Rockhampton, Mackay - This will help with tax minimisation due to current laws allowing property losses (depreciation etc) to offer tax paid on other income such as shares or regular income although in these markets it should be positively geared anyway.
$150k diversified across ETF's (Ideally 3 different sectors such as property, local, and international)
Retiring in 10 years purely depends on your current state of affairs, do you own your home, how old are you, where do you live, what is your lifestyle expectation, etc.
ETFs are the usual safe option, but with that much maybe a financial advisor….
Talk to a reputable firm of wealth managers. $350k is a lot for you but not much in the Great Scheme Of Things. Many wealth managers aggregate their clients' combined purchasing power to access funds who don't admit "small" investors.
If you have a decent income you're in a position to opt for an aggressive investment profile and target growth then switch to a safer profile later to target a reliable income.
Explore tax-efficient strategies too!
You need to get good advice, you're getting $350K don't be cheap!
You're better off speaking to an accountant or qualified adviser because there's too many variables you need to consider - tax, superannuation, your current asset & liabilities… You said you're 10 years away from retirement so this may also affect your Centrelink Age Pension eligibility if you've got it in the wrong name or tax structure. Spending a bit of money now may save you $$$$ down the track in terms of Capital Gains Tax, loss of the pension, etc. That's my 2 cents, hope it makes you think a little deeper :)
Lock it away until you retire in 10 years time?
Update.
Started buying into FMG today
Next is buying into LRV
Will slow add more IVV
Started buying into FMG today
i will be getting $350,000 from grandparents in the next 3 months
$150,000 on FMG will wait if it drops to $13-$15
It's sitting at ~$19, and down 33% YTD.
It's got massive volumes a day, and it's not like a dividend date is upcoming.
You normally so impatient with burning money, or just making this up as you go?
not saying it may not pay off, but you could have taken 350k to the casino and had more fun without making a post about it
That's why i got fmg yday it's down 33% ytd cheap in my books. Buy when blood on the streets.
@Rac00n
Well if you have the time - this is a handy video to watch, is probably the one I recommend most to investors as regardless of what they do - it's very tempting to believe one's own hype or be thrown off a good plan. So being able to properly evaluate your results beyond the 'I made money, I'm a genius" "I lost money, that plan sucked" level is rather handy:
https://youtu.be/I8gH5bR3clg?si=dfS1hndDg-BwuLJ5
:-)
yes but have you considered why it's down 33% ytd?
This thread is absolutely required reading for the next "how do I start investing" threads.
A tulip mine of risk, impatience, scattered thinking and nonsense.
You seem a little bogged and upset that you are here hating online while being poor and waiting for the age of 67 to retire with $200,000 to your name via ur meme super
lol. My taxes will be paying your pension after you lose all your family’s gifted money. Your finance discourse is like a Fortnite chat stream, and you’re making decisions that will see you wasted unless you are extraordinarily lucky.
This was what it was like shortly before the tech crash or the GFC, people convinced that just a little more leverage would get them there faster. What could go wrong?
Your taxes won't be paying anything, seems like you are just bogged and waiting to hit 67 to start travelling with a walking stick. You only lose if you hit the button ''Sell'' when you are in the RED.
Since i have 10 yrs i think i will be fine, now put my fries in the bag please.
@Rac00n: My guy, play the ball, not the man.
@mskeggs is a respected member here - he's disagreed with you on stuff but not gone after you on a personal level - if you disagree with his assertions, counter them but saying such things as above ain't a good look in any manner & plays into the narrative others have alluded to.
@Daniel Plainview: Will have to beg you for describing me as 'respected' when 'tolerated' is right there.
@mskeggs: I dunno about that I think you always come from a pretty balanced position, support your comments with info - not just assertions or wise cracks and are cordial in your word choice. Don't undersell yourself. :-)
My advice would be to seek actual financial advice from somebody qualified to give it, not from an internet comments thread. This kind of windfall is a once in a lifetime kind of thing (I guess maybe twice depending on how loaded your parents are, on the other hand a lot of people don't even get it once), so you do not want to screw up the opportunity.
Just put it in a bank account with a decent interest rate and let it sit there while you think about it. Go seek advice from a financial advisor (or, even better, more than one) and take your time thinking about their advice before deciding what course of action to take.
LRV owns the worlds largest Antimony deposits with infrastrure worth around $180m already been built and its ready to mine in 2025. Risks are certainly there now the price has gone up another 10% today. I got in very early hence there is far less risk for me.
FMG on the other hand can certainly goes to $15, however where else can you park your money? Certainly wouldn't be the banks.
Not investment advice