Where to invest 10k

Discussion in 'Share Investing Strategies, Theories & Education' started by joel, 27th Mar, 2016.

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  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.
     
    joel, 27th Mar, 2016
    #1
  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.
     
    Bran, 27th Mar, 2016
    #2
  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 ;)
     
    The Falcon, 27th Mar, 2016
    #3
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  4. Xenia

    Xenia Well-Known Member

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    Gold/ silver?
     
    Xenia, 27th Mar, 2016
    #4
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  5. DaveM

    DaveM Well-Known Member

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    Gold is currently trading at $52,000 a kg... so 10k wont buy much these days :(
     
    DaveM, 27th Mar, 2016
    #5
  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
     
    Joshwaaaa, 27th Mar, 2016
    #6
  7. D.T.

    D.T. Specialist Property Manager Business Member

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    5% deposit on real estate?
     
    D.T., 28th Mar, 2016
    #7
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  8. MarkB

    MarkB Well-Known 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.
     
    MarkB, 28th Mar, 2016
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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.
     
    joel, 28th Mar, 2016
    #9
  10. twobobsworth

    twobobsworth Well-Known Member

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    Life, 6 months back packing around Asia.
     
    twobobsworth, 28th Mar, 2016
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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.
     
    joel, 28th Mar, 2016
    #11
  12. MarkB

    MarkB Well-Known 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.
     
    MarkB, 28th Mar, 2016
    #12
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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.
     
    datto, 28th Mar, 2016
    #13
  14. Steven Ryan

    Steven Ryan Well-Known Member

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    Tell your brother to invest it in himself. He'll get a better return than anywhere else.
     
    Steven Ryan, 28th Mar, 2016
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  15. radson

    radson Well-Known Member

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    radson, 28th Mar, 2016
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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.
     
    joel, 28th Mar, 2016
    #16
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  17. larrylarry

    larrylarry Well-Known Member

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    You're a good brother.
     
    larrylarry, 28th Mar, 2016
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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.
     
    Joshwaaaa, 30th Mar, 2016
    #18
  19. Kate Moloney

    Kate Moloney Well-Known Member

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    Its cheaper by the ounce!
     
    Kate Moloney, 30th Mar, 2016
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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.
     
    joel, 3rd Apr, 2016
    #20
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