Best thing is to stop punting. That should be your first priority then.
Punting if anything is an expensive hobby... or is it a sport. I've never really decided which it is
Ok first off , I know this is a punting forum. But as most of us regular punters are spending upwards of $200 a week on it hobby.
I'm sure they must be some wise investors here. I come seeking knowledge!
I'm on 90k a year, and 30 years old and want to start investing for the future .
What are some tips?
Thanks!!
And bit coins are a going to be a disaster :/
Best thing is to stop punting. That should be your first priority then.
Punting if anything is an expensive hobby... or is it a sport. I've never really decided which it is
What's your goal? What's your time horizon? When do you want to use the money? Can you tolerate a bit of volatility in investment returns even if you make a loss (hopefully only on paper). Are you prepared to put in the effort to learn about investing or just want a set and forget?
If going for retirement go for super, it's tax effective, will cut ur income tax and less tax on your investment earnings.
If pre retirement and you have a long time horizon I'd say look at ETFs and maybe some Listed investment companies (good ones with a history of returns). Personally I invest his way, it's more liquid than property and you don't have to spend the time studying lots of stocks.
@X11 that's right I have cut down to once a fortnight, and aim to wean it down further.
@Blacktoad: I want to invest in property but can afford it, I barely enough for a 20% deposit ATM, so thinking at some type of mid term gain to gain the funds to buy in.
Disagree that the man should stop punting.
If he hasnt settled with the right person yet, punting is cheaper and saves time to focus on career
Real estate is a safe way to capitalise on your investment but the market in Sydney is too hot. You need funds so maybe reducing your punting or finding a girlfriend and then putting the funds towards the deposit might be the way to go. At least, it will be towards your benefit and not someone else.
Roulette.
Put all your life savings on red, then red, then black, then red, then red, then black ... then stop ... don't be too greedy ...
A wise old owl once told me "invest in pussy by spending all your money on punting. You won't regret it."
He was correct. The best investment I have ever made.
Is it a bird, is it a plane, no its Punterman. Always seeking out good value bbbj, DFK, DATY for $150 hr in the Western Sydney brothels.
If you want to invest in property, here is a way to do it without needing a full deposit.
https://www.brickx.com
If you invested in bitcoin a couple of years ago. Great well done!
You have now made huge money. Now is the time to sell these.
Bitcoin is in the tulip zone now - cash out now.
There is still some growth left in it, but not much more, and the potential for the bubble to burst is huge.
There’s money in the banana stand.
Like X11 said, punt less.
But I have following advice:
1) You are 30 and without a mortgage. If you have 6 month of survival/rainy day money stocked up, go for a 6-month or more contract job. The idea here is to make quick money so that you can gather up enough money for that 20% mortgage.
It's risky I know but you are in a good position to take such a risk when you don't have a mortgage.
Having said that, it also depends on whether or not you have a dependent family.
Also, depends on which line of work you are in.
2) Set aside 10-20% of your (fortnightly) pay for investment. Don't get carried away. Put only the money you are willing to loose.
3) Don't put all your eggs in the same basket: Diversify. Just don't put all the money on stocks or crypto-currencies.
a) Crypto-currency (such as bitcoins, ethereum): This is a risky market to get into but the key here is to diversify. Just don't put all your money in Bitcoin alone. Spread it across ethereum, litecoin, ripple and others. Eventually bitcoin will go bust but one of the other crypto-currencies will go up. At that time, that one crypto-currency will make you all the money. Don't sell early. Note that this is the money you are willing to loose. It's a gamble.
b) Low Cost ETFs (such as Vanguard): The best thing about them is the fee is really low and it's diversified and well managed. It's compounding and can give you 5% and more return.
c) Peer-to-peer lending (such as ratesetter) : This can give you upward of 5% return.
d) Low-yield Bonds
e) Salary Sacrifice into Super: it will reduce your tax and you will accumulate more money on retirement.
4) Invest in yourself:
a) Keep Learning in the areas you want to learn. Join a MOOC course. Not uni though. It's useless to keep going back to Uni; it just costs fortune.
b) Stay Healthy and eat Right.
5) Act Now: Tomorrow is too late. If only someone had given me this advice when I was 30. Key is to start as early as possible.
6) Don't do it because it's a fad. People have great fear of loosing out. They do stupid things when they have such fears looming over their heads.
All of the above is nothing new. They are all over the internet. The key is to invest, have patience, and see it through the end.
Good Luck!
Invest on the TAB
If you talk to experts about bitcoin and crypto-currencies in general, the real reason to use it is to cut out middle-men in transactions. It is not a get rich quick scheme, or at least shouldn't be used that way.
There is a cool app called Acorns where you can put you small change into shares. Money that you wouldnt miss you transfer and it gets invested into good shares!
Putting extra coin into super has many benefits, but make sure it isn't too much.