All Topics / Help Needed! / $1,000,000 CASH

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  • Profile photo of rukruk
    Participant
    @ruk
    Join Date: 2008
    Post Count: 21
    March 10, 2008 - 6:57 am

    I have $1,000,000 from property sale.

    Bank offering me 8.2% on term deposit.

    Should I do this and borrow against it OR WHAT ?

    Any suggestions.

    THanks.

    Profile photo of grease monkeygrease monkey
    Member
    @grease-monkey
    Join Date: 2008
    Post Count: 4
    March 10, 2008 - 9:54 am

    first congrats on the money made if it were me id put it straight back into property investing as house prices are low,rent them all out for a few years then when prices go up sell.But thats just me good luck anyway

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 10, 2008 - 11:55 am

    Would attempt to provide you Financial Advice on a forum without a full needs analysis.

    If the profit was made from an investment property however remember you may incur a CGT liability which will be due at the end of the year but can be deferred into Mar 2009.

    Richard Taylor | Australia's leading private lender

    Profile photo of Rainmaker2000Rainmaker2000
    Member
    @rainmaker2000
    Join Date: 2008
    Post Count: 12
    March 10, 2008 - 9:11 pm

    Congrats on making the $$……..I suspect that you know what's best to do with the cash since you made it……it's true there are some cheap shares around and I bet there are still undervalued pockets of property too, but for you, there could be much worse than throwing it into a reputable bank for a while to take stock and scope stuff out……..that's very similar to what I did in 2002….

    http://therainmaker.net.au
    Small Stock Investing

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