Im 27, I have $50k aud saved up and work a minimum wage job
What would be the best way to use that money?
I want to be on the way to working less.
Tbh I can get by on dole money like I used to ($500aud per fortnight) wouldn't mind if I can somehow be able to earn that much.
Could do it at work by working twice a week but you what work is like. They get pissed off if you don't work more even though you don't need more.
What can I do to live somewhat comfortably?
I know for sure will am going to be getting the family home in the future
Is getting an investment home a good idea? People keep saying I should get one so it will be worth more in the future but sounds completely retarded to me. Like buying a $400k home which will take decades break even ans to pay off+ repairs and rates? Doesn't sounds right to me yet everyone swears by this.
I guess it can work if you are already a multimillionaire who can pay their shit off quickly but for the average Joe?
Sounds like some boomer scam to get us to buy their properties so they can retire.
Also what are some good resources to learn shit on this sort of stuff. I feel I should start self educating.
Buy some designer clothes then go out to an exclusive bar where the markup on bottles is ridiculous, but 3 or 4 bottles of their most expensive vodka or some other trashy spirit, and snort cocaine with gold digging whores before taking them to your 5 star hotel room. Make them think you are a millionaire in town for business.
Eli Butler
>Is getting an investment home a good idea?
Absolutely FUCKING not. auscunt here with parents who have 3 rentals and they say it is the biggest mistake they ever made. It is a NIGHTMARE being a landlord in this shithole.
>DUDE buy houses that take a lifetime to pay off LMAO
real estate in the west is a total fucking scam. Hopefully the prices revert to pre 80's level, but they probably never well. I dont think anyone of than the elite will actually OWN a home in the future
As for what to do with your $50k i would put at least 30k in crypto. srs, the gains to be made is immense. You need to do your own research first and not have complete confidence in your investment ability before jumping on board of anything
good luck boyo
Mason Bell
30k really? Sounds really risky
Daniel Sanchez
>do your own research
Where do I start?
Isaiah White
>Absolutely FUCKING not. auscunt here with parents who have 3 rentals and they say it is the biggest mistake they ever made. It is a NIGHTMARE being a landlord in this shithole.
>DUDE buy houses that take a lifetime to pay off LMAO
And yeah that was exactly my mentality
how is it an investment if it takes a lifetime to pay off for the average non-baller middle class person to pay off?
Like is the whole idea to wait 40 years for it to be paid off (excluding all the rates and repairs involved over the years) before you can start making money back from it?
like I can understand owning a home as an asset to pass on through the generations because everyone needs a place to live. but exactly like you said. unless you are some billionaire it sounds retarded as an asset
since I'm going to be getting my parents home then I guess I don't have to worry about that side of things. how much you reckon I should have aside in the future for repairs and stuff if needed
Andrew Morris
The house is a big thing because you want to be paying yourself rent, not some random landlord or real estate company. Renting absolutely is a nightmare, people are trash and have no respect. Don't even rent a room to someone you don't already know and trust.
Elijah Powell
>Get enough blocknet to buy a node (5k). >Profit.
Ethan Gomez
>Don't even rent a room to someone you don't already know and trust. too right.
William Sullivan
> It is a NIGHTMARE being a landlord in this shithole. Not as bad as being a tenant fuckface. Australia has some of the most landlord friendly laws in the developed world. Your parents deserve gulag.
Hunter Hall
dont put 30k in right away OP, please start small. I've been doing this for 1 month and made 5k off 600$, so I think you should start with 600-1000 as well. However, I learnt what I think to be relatively quickly.
Split it into two and just see how the market works. if you put it all in right away very good chance you get completely fucked.
head to investopedia and look up technical analysis
Charles Cooper
Property in Australia is the biggest fucking scam right now. I wouldn't buy a house if I was given 1mil tomorrow.
Unfortnately, 50k is nothing. You would need to get 500k before you could even consider not working, and even then it would be right.
For now, 20k in cryptos, 30k in index fund. Reevaluate at 100k
Landon Evans
you got any tips bruh?
Benjamin Wood
>Not as bad as being a tenant fuckface. this, every house I move into, the owner sells it right after I sign the contract to some cunt, usually a boomer who buys it for their kids/grandkids to move into it straight away. The new owners can't make me move out, but they increase the rent and call the real estate agent when the lawns haven't been mowed for a week, then try to get my bond to renovate the place when I leave.
Elijah Sullivan
>boomer doing something other than for themselves Do you know why I know that you are lying?
Camden Anderson
their children still pay them rent, I didn't say that they gifted it.
John Gonzalez
Good point.
Colton Sullivan
The guy is working for minimum wage and has managed to save up $50k so you tell him to put 60% of that into a highly volatile and currently bubbling asset class? You're a fucking idiot.
OP, you need to read and educate yourself about finance before making any decisions. A book called The Intelligent Investor is a good start, from there you will get a general understanding of conservative investment strategies as well as what to look for when purchasing stock/bonds. Even though this text is somewhat older and is only about stock/bonds (mostly) it is still an excellent starting point.
Never invest in anything you don't understand enough about. Always strive to be comfortable with your investment decisions rather than making rash decisions based on others' FUD.
Carter Ward
This is fucking dumb advise. Cryptos at ATH, equity markets at ATH.
Jackson Adams
create some sort of unique product, copywrite it, go into salesmenship, sell your product
dont listen to that faggot. technical analysis on cryptos is totally useless due to massive market manipulations etc, irrational behaviours etc. invest in index funds. Not now because all experts say there will be an imminent crash. But once the markets crashed, there you invest. For example in an s&p 500 etf.
Jacob Morgan
Same kind of situation as you mate. $125k AUD in savings. I've been spending the last 3 years just moving my money around in search for the highest interest online saver account. Best I've found at the moment is ME Bank but its still only a measly 3.05% p.a or about $3,805
I'd like to hear more about investing in these Index ETF's. Where's good to sign up and start investing in these? I've done some reading but always get massive anxiety about signing up and pulling the trigger on investing my hard earned.
I also hold a very small amount of gold and silver bullion (less 10% of my total worth)
