how do you invest money? I was recently given some cash from a relative and I don’t want to blow it on crap. My son and I live quite comfortably - no debt, all necessities covered and the occasional treat for both of us. With this money though I want to invest it for me and my son in the future. I’m currently on the SPP so I don’t know if this affects it and I have no idea where to start - especially with buying shares. Any tips to get started?
3 Replies
Read The Barefoot Investor. I can highly recommend it - my husband and I have put ourselves in a much better financial situation following his advise
Let Centrelink know. Invest the money in a higher interest bearing account with your bank whilst you do some research
Seek an independent financial advisor! If you want to see it grow they can help you through acquiring a managed funds manager who will invest your money how you want. Cash, shares, bonds, property etc. They’ll do a risk assessment and find the right type of investment whether it be low, medium or high risk investments as it depends how long you can have the money sitting there will determine the volatility.