tazzieman Posted 28September, 2018 Report Share Posted 28September, 2018 To get rich quickly: 1. Don't procreate 2. If you do , don't send them to private schools from K-12 3. Don't bother with Hugo Boss underwear. No-one important will ever know. KG, Daly87, MFX and 2 others 3 2 Quote Link to comment Share on other sites More sharing options...
Dreamr Posted 28September, 2018 Report Share Posted 28September, 2018 I think it should be mandatory for financial planners to be transparent about their own finances ... they ask 1001 questions about your financial situation and goals, yet are under no obligation to provide information about their own "assets" ... and no .. driving a Mercedes doesn't prove a thing. I find it amazing that they are able to give advice about how and where to invest your money, yet some have absolutely no clue what to do with their own .... I know of a couple of planners that can't even afford to buy a cup of coffee and one that has actually lost his home .... I wouldn't go to one with someone else's money ... Scott930, firstone, Daly87 and 1 other 3 1 Quote Link to comment Share on other sites More sharing options...
Redracn Posted 28September, 2018 Report Share Posted 28September, 2018 I suggest you visit a financial planner and have a long chat with you accountant. I would add that with dividends you have franking credits so if a dividend is franked at 30% you only pay tax on the differance between this and your marginal tax rate. Some dividends are fully franked and some have none. Capital gain is another area. As an Australian resident you get a 50% discount on any investment you hold for greater than 12 months. There is a lot to this so seek professional advice. Mike D'Silva, Daly87 and hugh 2 1 Quote Link to comment Share on other sites More sharing options...
hugh Posted 28September, 2018 Report Share Posted 28September, 2018 31 minutes ago, Dreamr said: I think it should be mandatory for financial planners to be transparent about their own finances ... they ask 1001 questions about your financial situation and goals, yet are under no obligation to provide information about their own "assets" ... and no .. driving a Mercedes doesn't prove a thing. I find it amazing that they are able to give advice about how and where to invest your money, yet some have absolutely no clue what to do with their own .... I know of a couple of planners that can't even afford to buy a cup of coffee and one that has actually lost his home .... I wouldn't go to one with someone else's money ... I’m guessing you don’t trust skinny chefs or over weight doctors then? symsy, Mike D'Silva, firstone and 2 others 2 3 Quote Link to comment Share on other sites More sharing options...
tazzieman Posted 28September, 2018 Report Share Posted 28September, 2018 28 minutes ago, hugh said: I’m guessing you don’t trust skinny chefs or over weight doctors then? I don't think I've ever had to think about trusting a chef or indeed considered his/her BMI! Naively I guess, I assume they are not barfing in your soup & keeping the kitchen clear of most rodents & roaches. hugh 1 Quote Link to comment Share on other sites More sharing options...
Dreamr Posted 28September, 2018 Report Share Posted 28September, 2018 5 minutes ago, hugh said: I’m guessing you don’t trust skinny chefs or over weight doctors then? Their diabetes or anorexia doesn't affect or worry me in the slightest ... Bad, naive or uneducated financial advice will ... Quote Link to comment Share on other sites More sharing options...
hugh Posted 28September, 2018 Report Share Posted 28September, 2018 1 minute ago, Dreamr said: Their diabetes or anorexia doesn't affect or worry me in the slightest ... Bad, naive or uneducated financial advice will ... Good advice right there! Dreamr 1 Quote Link to comment Share on other sites More sharing options...
Zelrik911 Posted 28September, 2018 Report Share Posted 28September, 2018 You are getting some good financial advice here from experienced & wise people. With cars, as an engineer, you should have what it takes to be able to buy, maintain and improve an entry level car that will be worth something when you sell or upgrade it - and enjoy yourself along the way. But dont squander all your savings on cars you cant fix yourself. A Boxster shouldn't be a first collectable car. I am retired, so I can look back and see what has happened to relatives, friends & acquaintances. Who has been successful &/or lucky and who has not. Being lucky in Real Estate seems to be the common denominator for my 'well-off' Aussie friends - so you should keep the ability to be liquid enough to buy into RE if you see an opportunity. As a young man, I had an ultra collectable 1961 E Type Jaguar that was displayed at the Melbourne Motor Show (first coupe in Australia). I loved that Jag & was never going to sell - but lucky for me that a friend's father talked me into selling and investing in RE when it wasnt commonplace. E Types are selling for huge amounts now, but RE has beaten everything by a country mile. bumble and MFX 2 Quote Link to comment Share on other sites More sharing options...
bumble Posted 28September, 2018 Report Share Posted 28September, 2018 Ah yes, the minefield of life. No specific advice, but a few observations: 1. It can be highly advantageous to find a partner and form a stable relationship - the synergies are worth gold if it's right. If you're already in one, so much the better. A bad one however... 2. Real estate is highly tax advantaged in this country - especially your primary residence. 'Nuff said. 3. Cars will make you poor. Ask me how I know ?Sometimes you get lucky, but it's rare. Some can even make money, but they tend to be grafting East End barrow boys from the school of Arthur Daly. However, if they are your passion, try not to make it all consuming. This is a prime example of do as I say, not do as I do. 4. It helps to get financially literate. Here is a link to a free site run by a friend of mine - Graham Hand. It has information and opinion from some of the finest financial minds in the country. It does not purport to offer advice but if you can absorb much of the info under the Investing Topics section, it will at least fine tune your BS detector. https://cuffelinks.com.au/ Good luck. Quote Link to comment Share on other sites More sharing options...
Tips Posted 28September, 2018 Report Share Posted 28September, 2018 Good on you for changing your ways and making a future decision on where you want to be financially, in my book your half way to long term wealth already. Im with luckyPhil max the salary sacrifice to,the cap,its a free kick and dosnt look like you will miss it and as yingy says it grows quickly especially the past couple of years that have been good conditions. As Phil,says your young so go high growth and you have a good chance of out performing the market when it’s hot and young enough to recover when its not. With shares just remember a couple of things. You are the investment adviser here. You need to research and pick the performers, and that’s a lot to do but can be fun.. I have played with penny stock and probably lost more than I won, mostly blue chips that I bought well and get good dividends on which I reinvest. The tax on the dividend is the 40% or marginal as it’s tested as income and in your example of share growth, like any investment you pay capital gains tax when you sell on the difference between buy and sell price. Its 50% but if you have held the investment over 12 months its halved to 25%. i have been putting only into a managed fund account directly each month for my daughter. I researched to insure no entry exit an low monthly management fees. It’s averaged about 16% over the past 10 years and has well out performed the stock market as its diversified as Peter suggests. Its now a sizeable deposit that she is going to use part of to fund an investment property so she gets to Reno it a bit and learn to manage it from a tax and agent perspective. im with Phil, it’s your future get involved,, listen to experts, read some books find a mentor either directly or through podcasts of successful investors. It will become an interest that you can enjoy. Buy a Porsche as well.... bumble 1 Quote Link to comment Share on other sites More sharing options...
Skidmarks Posted 28September, 2018 Report Share Posted 28September, 2018 Listen to these people. They’re smart. Then bite off more than you think you can comfortably chew and chew like buggery ... hugh and Tips 2 Quote Link to comment Share on other sites More sharing options...
Peter M Posted 29September, 2018 Report Share Posted 29September, 2018 9 hours ago, bumble said: 1. It can be highly advantageous to find a partner and form a stable relationship - the synergies are worth gold if it's right. If you're already in one, so much the better. A bad one however... Probably the most valuable advice given so far. Troubleshooter, firstone and MFX 3 Quote Link to comment Share on other sites More sharing options...
symsy Posted 29September, 2018 Report Share Posted 29September, 2018 Im suprised no one told you to do the following a) Buy Aircool any thing .. hard, the markets faltering under pressure of the bubble .. it might even pop b) A 996 Turbo good bang for buck and you might meet a rich woman in it ..money wont be a problem , make sure she doesnt know about prenuptial arrangements c) Lithium stocks .. Porsche is pulling out of Diesel as are many others .. go knows we can dig up the earth to get some other shit out of it , Oil , Gas and Coal has become boring d) Real estate in Tassie .. good roads and good returns ..and cheap entry , just invest in a coat also. e) Glentier.. they are one of the wildest set of traders in known .. had hit rock bottom, god knows their rich traders want their options to be worth something and are on a comeback , own many a commodity asset.. including lithium and others, have you seen how much copper you need in the EV cars Quote Link to comment Share on other sites More sharing options...
tazzieman Posted 29September, 2018 Report Share Posted 29September, 2018 8 minutes ago, symsy said: d) Real estate in Tassie .. good roads and good returns ..and cheap entry , just invest in a coat also Oi! Hands off! symsy 1 Quote Link to comment Share on other sites More sharing options...
wilburforce Posted 29September, 2018 Report Share Posted 29September, 2018 Do some research on Roboadvice. As silly as it sounds it’s a cheap way to get diversification in the market from a quasi-planner. Not a long term investment but very liquid and good way to park it for a while and get good gains - usually above market. Check out sixpark.com.au Quote Link to comment Share on other sites More sharing options...
HWY Posted 5October, 2018 Report Share Posted 5October, 2018 On 9/28/2018 at 8:40 PM, tazzieman said: 3. Don't bother with Hugo Boss underwear. No-one important will ever know. ... by the time they know, it's too late hashtag metooooooooooooo On 9/29/2018 at 9:53 PM, symsy said: Lithium stocks All the speccie Li stocks are trading on crazy P/Es Day late and dollar short Quote Link to comment Share on other sites More sharing options...
PTINS Posted 9October, 2018 Report Share Posted 9October, 2018 As others have stated, anything where you can leverage 'other people's money to make money'. Sitting money in the bank will, well just sit there. My 2c - either buy outright or borrow to invest in affordable regional property along the east coast NSW or Qld. $50k would be a solid deposit and the rental income would easily cover the mortgage if you need to borrow to buy the property. Look for areas with a high rental occupancy. Some spots have very low entry prices houses around 300-400k and solid rental returns. Find a good agent and in some places you can get 8-9% return. I have return At 8% cheapish (250-400k) properties that have long term retiree and lower middle class worker rental income. For eg one house with 350pw rent from a long term tenant, in a $225K property, with 20 people a week enquiring at this one agent for similar small-medium size rental houses. The rental income has now accumulated enough to buy another house with less than $100K mortgage to cover the capital. A lot of regional coastal areas are high rental demographics with good rental return% vs capital outlay. Look for areas with either good employment, higher percentage of lower middle class workers (so tend to rent rather than buy), some on pensions, some on welfare, and a high level of retirees (a volume of which are cashing in and renting to enjoy spending their retirement savings and investments). Find a good accountant and a good real estate agent. The property values are stable, growing albeit slower than larger centres, but also more resistant to corrections, in these areas I've seen solid capital growth as well. Then once you get some equity, you can simply add properties to your portfolio if you stick to the same formula. Shares can be good as a balance to have a diversified investment strategy, but only if you time it well with reliable stocks at the right entry price in the market cycle. IMHO, now is not that time. Right now the share market now is higher risk for entry, most stocks and the indexes are at an all time high (over a 10 year span) so you're buying stock at the most (relatively) expensive price in the cycle for most reliable blue chip stocks (with reasonable 5-8% dividend returns), and global sharemarkets are probably due for a correction within 1-3 years. When in happens think GFC x 2 or worse. And as GC9911 stated Share investment is a gamble, don't bet what you're not willing to lose. It's not for the faint hearted or the inexperienced to get in now. Best of luck Peter M, firstone and Daly87 3 Quote Link to comment Share on other sites More sharing options...
firstone Posted 10October, 2018 Report Share Posted 10October, 2018 I bought my first place in a town that was about to be bypassed with the M1. All the locals are shitn themselves about value decrease so sell cheap. People still have to live there so rentals are in demand. Woodburn is one of those area's atm. ? PTINS 1 Quote Link to comment Share on other sites More sharing options...
spiller Posted 14October, 2018 Report Share Posted 14October, 2018 @Tips agree with you, managed funds sit well with me as somewhere safe to put your cash with the possibility of very good returns. Single stocks is glorified gambling IMO but power to those who can afford to and are prepared to take the risk. I try to follow the advice of Dave Ramsey who is completely anti-debt. It’s American based so you have to translate quite a bit but the principles apply to much of Australia (except doing debt free investment property - of course it’s possible but you won’t have much if you’re getting started now). His advice is to live debt free and invest in managed funds with 1/4 each in small cap, mid cap, large cap and international funds that out perform the stock market over a 10 yr plus period. I have not looked closely at the managed funds on offer in Aus but I suspect there are quite a few that fit the bill? @Daly87 you should read the book “The Total Money Makeover by Dave Ramsey. It’s a great read and outlines in detail, a very logical and simple plan on what one should do with his or her money. Quote Link to comment Share on other sites More sharing options...
Tips Posted 14October, 2018 Report Share Posted 14October, 2018 @spiller to amplify my comment I just received the statement from my managed fund 13.1% return last FY. ? Mike D'Silva and spiller 2 Quote Link to comment Share on other sites More sharing options...
symsy Posted 31October, 2018 Report Share Posted 31October, 2018 Have you bought that Porsche yet!! Be carefull Jensens , Alfas 105's and MK1 Escorts are on the up Fuel is also on the up , so maybe consider if you want the jensen to look at or drive Dont get AMP to do any of your insurance Did you get any Electroneum - many other coins are so outdated Quote Link to comment Share on other sites More sharing options...
dipstick Posted 31October, 2018 Report Share Posted 31October, 2018 Yes be careful, as all the above are usually rust buckets. Quote Link to comment Share on other sites More sharing options...
symsy Posted 31October, 2018 Report Share Posted 31October, 2018 35 minutes ago, dipstick said: Yes be careful, as all the above are usually rust buckets. Agree , normally with far less paint on them than the 356 and LOnghoods people are pedling as no rust But they are popping price wise at the moment Whats wrong with a good bit of crap russian steel styled by Italians MItsi TME Evos then and RX7 R Quote Link to comment Share on other sites More sharing options...
dipstick Posted 1November, 2018 Report Share Posted 1November, 2018 What's wrong? It'll disapear in front of your eyes into a pile of rusty russian crap steel. firstone 1 Quote Link to comment Share on other sites More sharing options...
symsy Posted 2November, 2018 Report Share Posted 2November, 2018 Invest in Hoselink.. I started a discussion thrread and their sales are up overnight from PFA buyers LeeM and firstone 1 1 Quote Link to comment Share on other sites More sharing options...
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