ATTN financial guru's

[Charlie Daniels]

Well I have approx $10,000 kicking around that I don't plan on spending anytime soon. Currently they are in a bank account which givs me 6.50% PA interest.

Is there a better place to put it?!

[PerpetualBurn]

Speak to an IFA.

[Against Miik!]

Convert it to Euros

[Aaron]

Managed Funds.

http://moneymanager.com.au/tools/compare/findamanagedfund.html
[click search]

[griftadan]

yeah if you're not a hands on type of investor a managed fund would be good

or just buy a bunch of gold or silver

[DBoons Ghost]

There's a lot you can do with 10k but it's nothing get rich quick. Patience is key here.

It's a great stepping stone to plan for future. I would forget the money exists and put it into a 5 year CD at the highest rate you can find. Your age is your best friend. When the 5 years is up take the profit and invest in high risk areas of the market and reinvest the original 10k into another 5 year CD depending on your circumstances of course.

PB actually gave the best advice in the thread but brokers can suck balls sometimes. Gotta be careful they don't lose it all with high risk investments when that money can be your starting point for retirement.

[PerpetualBurn]

An IFA would tell you about possible accounts and interest rates that you could take advantage of as oppose to them being someone who would start buying stocks and shares with it.

They give (surprisingly) independent financial advice. They do things like pension planning, ISAs, that type of thing. It's the best way to go considering no one on here will have any trustworthy advice.

[Der Übermensch]

Gold or foreign currency.

[Reaganista]

yeah buy gold and then use the gold to build a bomb shelter and stock it if a shotgun, 500 rounds and a year's supply of powdered milk

[Cardboard Urinal]

you dont want gold cause gold is spiked at the moment. Silver or platinum is a better bet. If you'd bought copper 6 months ago you could have made some serious moolah

[Aaron]

I still say managed-fund with a big group. Most at the moment [due to the obvious] have lowered their fees in an effort to grab those exiting the property-invement market before they sink their cash into their primary mortgages. So theirs some rates available for people with long-term goals in mind. The current climate is quite good for those with a good eye and a bit of cash to invest.

[Chrizzle fo' Shizzle]

Buy an annuity or invest it and use that profit to buy an annuity. Something that won't kick in til you're like 40 but pays insane dolla dolla billz

[McP3000]

Put it underneath your bed. That's the safest thing to do.

[Valhall]

Put it underneath your bed. That's the safest thing to do.


Only if you have a gun to shoot mother****ers coming after it in the middle of the night, tbh.

I wouldn't stash that much cash without some firepower to protect it.

[Aaron]

Hahaha. Oh wait, are you being serious?

[Valhall]

Not about stashing that much cash, lol.

But if I had that much cash just laying around in my bedroom, you're damn right I'd have an artillery to protect it.

[Liberi Fatali]

Try opening up a raboplus account and setting up a term deposit, their rates reach up to 7.75% for a 2 year term deposit in Australia.
http://www.raboplus.com.au/

They also offer managed funds if you're keen on a higher return.

[Aaron]

Depends what your aims are, John. If you're looking to use it in two years time and want to maximise the return in that time I'd suggest a managed fund. But if you're unsure then I'd probably stick the the ye ol' fashioned savings-account untill you're clear in your mind "how you want your money to work for you" as the last thing you want is to have to pay fees to cancel a fund to use the money for property etc, and undo all the work.

[r1mbaud]

buy books. alot of them.
life against death by norman o brown is a good one.
and
extraordinary popular delusions and the madness of crowds by charles mackay


a season in hell by arthur rimbaud!