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Where to invest 10k

Discussion in 'Other Asset Classes' started by joel, 27th Mar, 2016.

  1. joel

    joel Well-Known Member

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    Lets say you're 20, you have 10 grand with a 10 year outlook and this is a significant sum of money to you. Where would you put the money? If shares, keep in mind you usually get free brokerage when you first sign up to Commsec.

    This is for my brother and the outlook for most options on the ASX appears grim. Maybe a term deposit or HISA? I hope that one day he can put it towards a house or use it to start a business.
     
  2. Bran

    Bran Well-Known Member

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    Grim is good. If it falls through the floor I'd be piling in then and there and ticking the DRP box.

    PS. I know nothing.
     
  3. The Falcon

    The Falcon Well-Known Member

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    Looks grim eh. Better not invest, wait until it looks like you can't lose.

    Not advice ;)
     
  4. Xenia

    Xenia Adelaide Property Manager Business Member

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    Gold/ silver?
     
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  5. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Gold is currently trading at $52,000 a kg... so 10k wont buy much these days :(
     
  6. Joshwaaaa

    Joshwaaaa Well-Known Member

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    I'm looking at same at the moment but with a little more, my long service is coming up so thinking I might just get it paid out and do something smart with it. Thinking just some ETF's so I don't have to be hands on with it plus it seems like a good time to get in. But always open to options
     
  7. D.T.

    D.T. Adelaide Property Manager Business Member

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    5% deposit on real estate?
     
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  8. MarkB

    MarkB Some guy on the internet Premium Member

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    $20 on a copy of Noel Whittaker's Making Money Made Simple.

    $9980 in cash that can't be easily touched (but can be added to) until further notice.
     
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  9. joel

    joel Well-Known Member

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    Lol he will never read that.

    It SHOULD go towards a house but he can't save. He's kinda financially illiterate.. you can lead a horse to water and all that. I'm leaning towards set-and-forget index funds.
     
  10. twobobsworth

    twobobsworth Well-Known Member

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    Life, 6 months back packing around Asia.
     
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  11. joel

    joel Well-Known Member

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    He already wants to quit his job and go to Japan.. I'm trying to ensure he doesnt bankrupt himself in the process.
     
  12. MarkB

    MarkB Some guy on the internet Premium Member

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    Get him the audiobook then.

    Or is he deaf too?

    Because if he doesn't educate himself somehow he will end up bankrupt.
     
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  13. datto

    datto Well-Known Member

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    Renault Clio Authentique
    Turbo-Charged Manual Engine. Hurry, Get a Brochure.

    ^^^ This just popped up on my screen. I suppose 10K could be the deposit lol.
     
  14. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Tell your brother to invest it in himself. He'll get a better return than anywhere else.
     
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  15. radson

    radson Well-Known Member

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  16. joel

    joel Well-Known Member

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    Lol.. He wants a new ute - he's a tradie. He has already taken out a personal loan to buy a bike he never rides (yes this will be paid off, 10k is whats left over).
    3rd year apprentice and he wants to quit. I'm trying to convince him to at least finish the apprenticeship.
    I like this. If i set up a recurring payment he will probably be too lazy to cancel it. This idea is good.
     
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  17. larrylarry

    larrylarry Well-Known Member

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    You're a good brother.
     
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  18. Joshwaaaa

    Joshwaaaa Well-Known Member

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    Best thing he could do, 99% of my mates have trades and while not all of them continued on in the trades after the apprenticeship they always know they have something to fall back on, which a couple of them have after trying different things/travelling the world.
     
  19. Kate Moloney

    Kate Moloney Well-Known Member

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    Its cheaper by the ounce!
     
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  20. joel

    joel Well-Known Member

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    Thanks everyone for the responses - I think the Vanguard fund is the best way to go, and we'll set him up for automatic BPAY contributions. I've managed to convince him by explaining what his investments could be worth in 10 years time.