Hi everyone
My first post here.
The missus and I recently moved over to Perth, We are renting in Sorrento and love it there, we recently found out we are going to be having our first child. Both in our late 20s
So to our Finance: We have about 530k in different accounts etc
We are pretty good at saving it but don't have a clue what to do with it, its pretty much sitting getting interest in a high interest account, we where looking at buying but sorrento is very expensive, yes we could afford a house but don't want to spend that much on a house, As I said we love our rental and the street its in so we are planning on staying here for a year or two.
Q: would you buy a place with the 500k just to rent out
or hang on to it, letting it get interest in the high interest account
or look into shares.
We would like to buy a house of our own, we asking the owners of our place if we could buy it they said no due to capital gains tax.
So if you where in our shoes what would you do.
Cheers,
D
touch107fm wrote:So if you where in our shoes what would you do.
Perth market is a little warm at the moment with the odd hotspot but that's about to come to a screaming halt.
Resource wind down is happening much faster than many realise. By the end of this month we're going over a resource cliff. There are already a number of major players in the resource sector warning of impending earnings downgrades and deteriorating resource pricing is squeezing that even harder.
WA's economy is 75% dependent on resources. A pull back is going to hurt big time.
To make matters worse you will almost certainly see an Lib party in power by the end of the year. Abbot is signaling austerity and budget cuts. It isn't going to be pretty as far as the Australian economy is concerned.
I wouldn't advise shares or property for a young inexperienced investor at this time. Park your coin in a term deposit and spend some time learning about where you can invest and how. Too many young investors jump in boots and all without understanding what they're getting themselves into. Even experienced investors are finding this market challenging.
Freckle- What the heck is going on with the silver spot price? Can you see Ishares dumping big time and sub $20 prices? I'm waiting to pounce but these guys are making me nervous!
Rick sta wrote:Freckle- What the heck is going on with the silver spot price? Can you see Ishares dumping big time and sub $20 prices? I'm waiting to pounce but these guys are making me nervous!FED's talking up it's wind back of QE but the realists out there don't believe it. The markets of course do the opposite even though all news is effectively bad and globally PM mints can't keep with demand.
I'm just watching and waiting.
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