Hey guys, a close relative recently passed away, and as a result i inherited $5000, now i put it all into my ING a/c, but dont want it all to stay there, i wanna spedn $2000 of it in investments, but not sure the ebst options? shares r risky...
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Inherited $5000, wat do do? (1 Viewer)
- Thread starter weeman22
- Start date
thejosiekiller
every me
$2000 only
maybe stockmarket if thats your thing?
or the good old TAB, gambling on the decider for the state of origin
maybe stockmarket if thats your thing?
or the good old TAB, gambling on the decider for the state of origin
tractor_chic
Member
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i inherited alot of money when i turned 18 and i just put in in a fixed term deposit account with 5.75% interest for 6 months while i decide wat i accutally wanna do with it. its good cuz im making money without doing anything!
i think u need at least $5000 to do that though.
i think u need at least $5000 to do that though.
Emily.
Pro-VSU
the ing account has nearly the same interest anyway and you have ready access to your money.tractor_chic said:
Skittled
What did the crab do?
$5K isn't much in my opinion. That's the sorta stuff I'd like to have around for a rainy day, let alone $2k invested... the ~5 or 6% you get in ING, etc, is easier in my opinion... In my limited experience, to put small amounts into shares is a waste of time ini the short term. By the time you pay brokerage to buy them, then wait X months/years, then pay the brokerage on the sale of them, plus any taxes in between...weeman22 said:
That said, others on here have some wise words which should be heeded if you're interested in stocks. ...Because the government will contribute $1.50 for every $1 you put in. Then, you get interest on the $2500 you've got in there for the next ~40 years. Good deal, in my opinion, if you've got the $1k to throw around.fatmuscle said:
You said you want to invest $2k. What do you want to do with the rest?
well i want to have a lil bit of money in my account just in case i need it for something (i dont have much $$$ apart from that 5k). Not sure about the super idea, cuz i dont really have enuf $$$ to be putting it away like that 4 such a long time, even if it is a good idea.
So apart from shares, n e thing else?
So apart from shares, n e thing else?
doe
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in the grand scheme of things, $5k isnt a lot so your options are fairly limited. to go shares, buy an index tracker like SFY but you should try and hold it for at least 6 months, or keep it in cash, open an account with bankwest who offer 6% for the 1st year.
samuelblayden
Newcstle Knights 2006
Pay it off than leave the rest of the bank
Ranger Stacie
hollaback girl
give it to me
soha
a splendid one to behold
my friend inherited 5k and put it in some account and now its grown to 11k
all thanks to interest
which i think is wrong
but neways
all thanks to interest
which i think is wrong
but neways
soha
a splendid one to behold
well yeahweeman22 said:
she got it when she was 8 and now shes 18
so 10 years has grown by 6 thousand
or something like that
but the conditions are she cannot withdraw the money until shes 21
but she can choose to leave it in there for longer btu she has to take the 5k out that she started off with and the remainder can stay in there and continue to build up on interest
hm..interesting concept
gordo
Resident Jew
long term deposit account
i think min is $5000 with an anz one which actually pays about 6% interest.
i think min is $5000 with an anz one which actually pays about 6% interest.
theone123
blue essence
bad option when u only gona get it back in just like 50 years :/fatmuscle said:
theone123
blue essence
thats rediculous thats an impossible return just in bank interest.. seriously put it all in shares tho risky but that 5k to 11k return in just a few months or years can be a reality if you know what you are doing... interest is like dirt nothing, maybe compensate for the inflation :/weeman22 said:
