Managing all that money...

[GWEILO]

I just wanted to know what brothers or ML/WL here do to manage your money. To make it work for you while you sleep. I'm very curious as I know a lot of the working ladies either blow all their money on gambling or holidays or expensive bags. With proper financial advice I'm sure they could be living the life without having to work. I have investments in shares and real estate and I'm an OK gambler but it doesn't compare to the amount of cashflow that my friends businesses generate. Any brothers here have tips on how to make money work for you.

[benife]

Make an appointment with a financial adviser!

[GWEILO]

Make an appointment with a financial adviser!

I don't know any good financial advisers, they all suck and are unable to generate the required amount of return I'm looking for. The advice I normally get from them is I'll analyse your situation for a fee and then I'll work something out for you. Some recommend tax free pension funds but pension to me sounds like half a century of waiting on a return.

[AHLUNGOR]

I don't know any good financial advisers, they all suck and are unable to generate the required amount of return I'm looking for. The advice I normally get from them is I'll analyse your situation for a fee and then I'll work something out for you. Some recommend tax free pension funds but pension to me sounds like half a century of waiting on a return.


Hand over $50K or $100K to David from Newtown and ask him to open another shop with you as a partner !

Almost sure winner !!

Just my 1 cent

Cheers

:shout:

[DeepImpact]

have investments in shares and real estate and I'm an OK gambler but it doesn't compare to the amount of cashflow that my friends businesses generate. Any brothers here have tips on how to make money work for you.

I have one tip but it is more of a rant that I want to get off my chest first before saying anything else.

If you ever go to see a financial advisor and the first thing he starts talking about is any form of insurance then dump him straight away. The reason a lot of financial advisors are known as nothing more than insurance salesman is that there is such a high margin in insurance policies that they try and concentrate on selling those policies first. Think about it, why is it that companies like Coles and banks have started with some insurance and even try and get their tellers and private bankers to push it- it's because of the margins. You should be able to get a discount of a minimum 30% on these policies. I hope that this tip helps someoneout because ultimately you want someone to help you make more money and that's what you should be paying for, anyone can work out insurance.

[rooter]

I just wanted to know what brothers or ML/WL here do to manage your money. To make it work for you while you sleep. I'm very curious as I know a lot of the working ladies either blow all their money on gambling or holidays or expensive bags. With proper financial advice I'm sure they could be living the life without having to work. I have investments in shares and real estate and I'm an OK gambler but it doesn't compare to the amount of cashflow that my friends businesses generate. Any brothers here have tips on how to make money work for you.

Just PM me and hand me over your life savings. I promise I will triple it for you in just 4 months.
I won't spend it on hookers, and travel, I promise. You can trust me!

[able]

Don't expect to have a large % of return...

I don't think any investment is wise if they promise too much

Just be real about what you would get from investments

[World citizen]

positively geared investment properties ... located in or near the cbd, a university and/or a train station ... cram them full of chinese students .. #winning

[IExperiment]

I don't know any good financial advisers, they all suck and are unable to generate the required amount of return I'm looking for. The advice I normally get from them is I'll analyse your situation for a fee and then I'll work something out for you. Some recommend tax free pension funds but pension to me sounds like half a century of waiting on a return.

They are all the same but not as bad as Lawyers. First things they would say is Please come in so we can assist the situation and once your in the doors than they ask for the fees $2000 in advance for their services than wait for more bills to come :)

[igloo]

I have one tip but it is more of a rant that I want to get off my chest first before saying anything else.

If you ever go to see a financial advisor and the first thing he starts talking about is any form of insurance then dump him straight away. The reason a lot of financial advisors are known as nothing more than insurance salesman is that there is such a high margin in insurance policies that they try and concentrate on selling those policies first. Think about it, why is it that companies like Coles and banks have started with some insurance and even try and get their tellers and private bankers to push it- it's because of the margins. You should be able to get a discount of a minimum 30% on these policies. I hope that this tip helps someoneout because ultimately you want someone to help you make more money and that's what you should be paying for, anyone can work out insurance.


i agree with generalisation, the overwhelming majority of fin advisors are insurance salesman pretending to want to look after your best interests, the thing is they are usually tied to a brand (or a few brands) so theu cannot give you the best product for you, even if they knew what it was. The independent guys will chop and change to whoever is paying best incentives.

The reason they love the insurance products so much is the trailers they earn, not just the upfront commission but a yearly fee for the life of the policy.

To rbo Gweilo I would say it really depends on where u are in life, and what u want to do... If you are a young professional with no desire for a family, you will be rich..for sure. If you want or have a young family you probably know what happiness was:fire:. If at a later stage your needs and wants will change again. I spoke to an old friend, (he is an old guy) today, we have the same conversation every month, we talk about girls, what I should be doing with them, and what he would love to do, then some sports then I ask about is shres and he tells me how he bought CBA shares for $12, they are now >$66 plus they pay him a div of nearly $4 per year not including franking credits. I say he is so smart for getting in, he says he doesn't know why he got in then coz they were expensive, he is just happy he has a really lazy stockbroker because he would have sold them happily at $20, $30,$40 etc all the way up if it was suggested, then invested in something that would go broke soon so who really knows.... No_One. All I can say is if u don't need the money for 10 years (or a portion of it) there are some decent tax free bonds. No matter what allocate your funds wisely always make sure u know what is where...Have different risk classes, have reasons for your choices and stick with your plan.

[tpol]

I have one tip but it is more of a rant that I want to get off my chest first before saying anything else.

If you ever go to see a financial advisor and the first thing he starts talking about is any form of insurance then dump him straight away. The reason a lot of financial advisors are known as nothing more than insurance salesman is that there is such a high margin in insurance policies that they try and concentrate on selling those policies first. Think about it, why is it that companies like Coles and banks have started with some insurance and even try and get their tellers and private bankers to push it- it's because of the margins. You should be able to get a discount of a minimum 30% on these policies. I hope that this tip helps someoneout because ultimately you want someone to help you make more money and that's what you should be paying for, anyone can work out insurance.
Lol, I learnt and got burnt on this 18 yrs ago

About 6 months ago, I moved into funds exposed to USA property and shares thinking that these assets will rise and I am buying them cheap with a strong Aus dollar and when they have risen a fair bit when u convert back to aud, the aud would've fallen and the usd would buy more aud so a double gain.

This was in my super btw

If u can buy exposure to us property than that's the way to go for mine.

E. G. reports recently have said us property have moved up 10% and the aud has fallen nearly 10%too so a double gain


This is what I did 13yrs ago whilst working in hk. Buy aud property cheap with a strong hkd. Property prices rose and so did the aud.

Sold the property with a gain and the stronger aud paid back a lower debt in hkd

[birch]

For me a subscription share tipping/ strategy service (Rivkin), a SMSF plus an external account and a medium term outlook provide a solid, low risk return that weathered the GFC and all it's aftershocks.

[GWEILO]

Nice, I really liked brother tpol exposure to US property market and the falling AUD. Any idea's on how to invest in US property as I understand that they have use escrow to settle the property and annually you have to pay taxes as well.

[tpol]

I was very keen on this as I missed out on the boom on the WA property market. Back in '96 my friend returned to WA after working in Syd and became a property agent.

He tried to convince me to invest in WA property but not knowing much about WA, i declined. Well, he is filthy rich now with properties with water views all over in WA.

ALthough, I am not sure how to invest in US property, I expose myself to it via funds investing in property index funds, etc.

[tpol]

you pay taxes everywhere as an Aussie citizen.

If you lived in HK though, no CGT

[Punted-till-Munted]

Hand over $50K or $100K to David from Newtown and ask him to open another shop with you as a partner !

Almost sure winner !!

Just my 1 cent

Cheers

:shout:
Does or did David have a massage shop in liverpool?

[jellyshots]

Get a good accountant, setup a beneficiary trust account and a few companies and a bucket account. Then grab a rivkin report or barefoot blueprint and go for it.

[micazzofamale]

i usually do most of my investing a 'the star' - at least if im going to lose my money im not paying some suit for the privilage - returns achieved can be volatile - sometimes can finish the night off with a little pleasure

[AZNELITE88]

Give it to your parents and tell them them not to give it to you until you really need it.

[newnight]

Buy low and sell high that's the strategy can be used in any investment.

[birch]

A very basic, low maintenance high diversification share strategy that has been back tested on the Australian market by Rivkin is the their local version of the Dogs of the Dow share strategy.

In simple terms once every 12 months split your available investment funds 10 ways and buy a roughly equal value share of each of the lowest priced/ highest dividend yielding stocks on the ASX 50.

Since inception in July 2008 this strategy has out performed the all ords. accumulation index by 30%.

If this seems like an Ad. It isn't I am a Rivkin subscriber but I'm also just as jaded with the financial services industry any many others on this forum.

[punterian]

My investment strategy is only put your money into things you understand. If something sounds complicated then run a mile. Not saying complicated investments can't work, just need to understand. Same with shares, I only invest in companies where I understand their business model and how they make profits.

[jellyshots]

i usually do most of my investing a 'the star' - at least if im going to lose my money im not paying some suit for the privilage - returns achieved can be volatile - sometimes can finish the night off with a little pleasure

Do this too... Start small, build up a stash then use Travelmate's tips. Then stash it away in a high interest account and fund your next 6 month's worth of punts.