Definitely set aside money for university in case you have financial trouble in the future, by the way what course did you end up going for?
What should I do?
- Thread starter Radelaide
- Start date
Buy the largest pile of penny sweets ever envisioned by man...
That or a house... you can go either way really...
That or a house... you can go either way really...
The way things are in australia at the moment, you're better off keeping it under your mattress. Housing is still way too overpriced, and the sharemarket is well below anything you'd want to consider investing in. Really, talking to an independant financial consultant (one not affiliated with any bank, mortgage broker or lender) is your best bet.
I think you should become a vigilante. You have to have a cool name though or it will be useless.
But in all seriousness, if you don't know what to do with it put it in the bank.
But in all seriousness, if you don't know what to do with it put it in the bank.
Look into various types of bonds after repaying their loan, it's what I've got going and the interest isn't too bad.
That's not a bad idea if you are sure that you can afford the mortgage payments. If you can afford a bit more, I'd suggest purchasing a duplex or a four unit apartment building. Your rent income will be a bit higher and you will be in a better place to invest in other ventures.Radelaide said:
That's how my cousin started and now, after ten years, he owns close to ten different properties, from single condo's to a couple decent sized apartment complexes. He works a grand total of ten hours a month. Must be a tough life...
With that said, as long as you think before you make your investments, you should be in pretty good shape. Oh, and take your mum, gf/wife out for a nice dinner
If you can afford to buy a property outright, you could go worse than buying a house from the army as an investment property. They'll pay you rent even if there's nobody occupying the place, they fix all the problems with the house and the calibre of tenants is quite good, being for army officers and the like.
It's a great guaranteed bet for an initial investment property, then you can unlock the equity in that home and invest in another property. Pretty soon you'll be retired.
It's a great guaranteed bet for an initial investment property, then you can unlock the equity in that home and invest in another property. Pretty soon you'll be retired.
A house is always good. After you do that (if you live in America anyway), invest in gold or some other "solid" item that people will only want more of as time goes on. With the economy the way it is, as long as the nukes don't fly then in a few years you should be all set.
Of course, the internet isn't really the best place to ask for money advice, so take all these with a grain of salt.
Of course, the internet isn't really the best place to ask for money advice, so take all these with a grain of salt.