hi guys , my name is james and im currently 20 years of age. i have been looking at investing money although not sure where to start. So i thought i would start off from this forum to help me get an idea, i currently have 10k saved up, and i would like it put towards an investment since its my first time. Im not sure even where to start or how much i will need to invest since i don't have the knowledge or background in investing. any help and advice from fellow members on this forum will be great thanks in advance.
Hey James
Welcome to the forum mate…
Being a property investment forum, you are going to get told about 101 different ways of making money through property.
At your age mate, best advice is to attend a few seminars (there are heaps available for either no charge or under $100) on both property, shares and business. Read a few books on each of the above subjects, talk to a bunch of people (eg. Forums, family friends, etc) and you will hopefully find that one attracts you more than the others.
Once that takes place, attend a bunch more minimal cost seminars (maybe even do a short tafe / other course), read a whole heap more books, talk to a bunch more people in your chosen field and try and get a really good understanding of your chosen investment model.
Don't be in too much of a rush to invest your money, the road to wealth is a journey that is best enjoyed over time.
Matt
Good Morning Matt,
and Welcome Jamesp33,
Matt is entirely correct in stating you will be bombed with many concepts and strategies, 101 ideas will hit you at once, the key is to understand that most strategies will have an element of truth and good value. It is your job to select the concept that is most suitable to your personality. In terms of your savings, you are very close to taking the plunge for yourself. You may need some practical knowledge to prepare yourself. Sit down with your local Broker or like ( the cost is nil), report back to this site and we will keep you on track….
Hi James,
Welcome to the forums.
One thing that will help focus you as well is to work out what your goals are. Do you want a certain lifestyle, retire by 30! etc. To do this do you need to earn passive income, build wealth, or get some quick cash? I know at 20 its hard to figure out what you want to do but you have obviously thought about it enough to get involved in this forum. Well done, and I wish you well as you sort through your investment maze.
Regards,
Andrew
itsandrew
Go as far as you can see and you will see further.
wow thanks for the help guys, as you stated matt what kind of tafe courses do you recommend in being a begginer in investing?
also i also would like to attend these seminars, although since starting out as a newbie i don't really know where and when they are on if you guys could help me with that it would be great
james if you google names like margaret lomas you may find a link to a website detailing upcoming seminars. Pow Wow events also offer different investment courses, not just in property, may be worth a look.
Matt… you’re a gem….
James, you have time on your side so I would start by educating yourself,….and you don’t have to pay $$$! A library card and a subscription to Oz Prop Investor mag is a great start, and learn from those who went before you! If you don’t know anyone personally(as I didn’t), networking groups is the way to find them(as listed here). But the fact that you have posted here means that you are well on your way to making millions$$$, don’t let the naysayers sidetrack you!jamesp33 wrote:as you stated matt what kind of tafe courses do you recommend in being a begginer in investing?Hey James
By Tafe course, i didn't necessarily a 'Tafe' course, but more so just a course that will give you the oppty to learn about your specific area of investment. Doesn't really matter who provides it… just realise you don't need to spend a heap of $$ to get some good education. (Be very cautious of the $5K for 5 days type courses).
Eg. If you have an attraction towards business, then maybe a small business course. If you have an attarction towards shares, then maybe an economics course. Learn about what causes the Aussie Dollar to fluctuate etc…
I'm currently doing the 'course in property practice' which is offered by the Real Estate Institute NSW. Theoretically, it is the course required by budding Real Estate agents to get their certification to practice… for me personally, it has been a real insight into the current legislation around buying and selling a property, and also on-going property management.
Hi James,
As a smaller, no fuss investment I have always been interested in car parks. I haven't bought one (although I am looking) so I can't give any direct feedback, but it seems to me that they yield well, show appreciation and are simple to manage.
Having to use them in Melbourne, they also seem to be in high demand! It may be worth considering. It's a good hands on education as you are buying titled property with all that goes along with that, and they are fairly liquid.
All the best in your endeavours whatever they may be!
James , with 10 k I think you should look at leveraging that up as quickly and safely as possible. A good way to do this is with a DPP (deffered purchase plan) You could get a loan to of $70,000 to buy units in the ASX 200 or if you prefer property the Dow Jones real estate Index. You can get a lot more bang for your buck it s quicker easier and you can get a lot more leverage than buying property directly and you get alot more diversity. The Royal Bank of Scotland will give you a non recourse loan (meaning you dont have to repay the the loan if the asset goes bad, a risk is that if the bank goes broke you have lost your interest payment)with 3 years intererest in advance for $8,0000 for a $50k comprizing of 3.3%, interest, you will need to pay another 1% for hedging you would need insurance for capital protection to make a total cost of almost 6%. Because you take out capital protection insurance the bank has little risk and this is reflected in low interest rates. I suggest you google JB Global they can facilitate these kinds of loans, and give you no bullshit advice. If you are in Melbourne I can recomend you speak to Jason Bibby . The only financial planner I have meet that I could recomend you at least hear what he has to say. Their fees are performance based ,10% of any profit you make.
I'm located in Sydney, and i actually wouldn't mind taking time and going to meet up with any referred financial planner that can talk me through what you guys have said thoroughly, at the age of 20 and taking my first stepping stone is kind of hard to understand. if anybody knows some things that are/or maybe on such as seminars please do tell me. i find it quite interesting learning new things and understanding what people on this forum are talking about.
Hi James
Have a look at the attached link as some free education on shares…
Please note, the idea of this session is ultimately for Stock Doctor to sell you their share market analysis program, but as long as you don't sign up / commit to anything, it will give you a very high level overview of what to look for when doing share market analysis.
Ps. In no way am i recommending you should choose the share market as your investment vehicle, or should you use stock doctor etc… but it's a free event and you will be able to rub shoulders with a few guys who actively trade and potentially ask some questions as to their experience with the markets.
Matt
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