Originally Posted by
yug
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!
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