DIY shares, Active & Passive funds, ETFS - COVID19 crossroads

Discussion in 'Shares & Funds' started by Sick_of_scams, 23rd Apr, 2020.

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  1. Sick_of_scams

    Sick_of_scams Well-Known Member

    Joined:
    31st Mar, 2018
    Posts:
    121
    Location:
    Gold Coast
    Thanks Ross36. I fall 'between the cracks' that me and many other ex-service members experience. We aren't to the point of being classed as 'non compos mentis', but also many not coping well either with the lump sums we are given. We have zero entitlement to any disability support pension or ongoing services - wholly or partial - because the lump sums mean we therefore exceed the assets threshold. Already canvassed this at length with Centrelink.
    Mental health support - under workers comp we had specific centres designed for ex-service - police, ambos, firies, miitary - we were all together. Once that stopped we were thrust into public system. Military get Dept of Vet affairs. The rest of us get no more support. Beyond Blue and others - all of these been there done that and the support services are not there for this type of thing. Me and others I know have done all of that and it is useless. Other colleagues end up blowing all their money and then can go for disability support unless they have already killed themselves or died of disease. Sad but true. Anyway this is all going off topic a fair bit.
     
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  2. DoggaPP

    DoggaPP Well-Known Member

    Joined:
    23rd Jul, 2018
    Posts:
    319
    Location:
    Lake Macquarie NSW Australia
    I use 1 month rolling for my Ratesetter and average about 7%. There is also a redeem early option too.
     
  3. Sick_of_scams

    Sick_of_scams Well-Known Member

    Joined:
    31st Mar, 2018
    Posts:
    121
    Location:
    Gold Coast
    I had a combo of 5 year and 1 month loans with the bulk in the one month. But due to the amounts I was lending I had instances where once the month had ended, I was not being repaid due to a lack of funds or borrower not repaying and it was then getting rolled over until funds became available. So a lot of my funds have been caught in a holding pattern. But it seems to have picked up and redeeming my holdings more. The 1 month rates are currently around their highest they have ever been. The 1 month pre-COVID19 was around the 3% mark in general. I still have faith in RateSetter but wanted to reduce some of my exposure and also look at other investment products that provide tax offsets.
    The re-opening of the economy and hence jobs will definitely restore confidence that not as many loan defaults will occur. The Provisional Fund I check frequently is still at same level which is good with a slight increase in the default %.

    The redeem early option only applies to very large deposits. And they changed the conditions for early redeeming a while back as well. I enquired about that and I cannot redeem from 5 yr loans.
     
    DoggaPP likes this.

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