Best place for under $100k cash

[danwatto]

Hi All,

My Dad has recently retired but wants to put a portion of the money into some sort of cash investment.

I've never invested cash before so I can't really help him.. although I know of canstar and those kind of sites, but rates these days are looking pretty small.

Can any of you smart investors recommend anything similar to what you've been doing with cash lately so I can help him out?

Cheers

 

[J_aco]

Hi OP,

TD would be 1st in mind

https://www.ubank.com.au/term-deposits#rates

http://www.ingdirect.com.au/rates-and-fees/savings-interest-rates.html

https://www.rabodirect.com.au/perso...121rabo&utm_source=AU00993&utm_medium=DISPLAY

all ~ 3.X%.

alternatively, of course your dad can give you that cash and you can easily make a fortune for him

 

[DaveM]

DaveM Offset Saver pays 3.5%

 

[twodogs]

Yellow Brick Road SmartMoney, about 4% after fees.

 

[twodogs]

Just a thought, you got a PPOR loan? Pay into an offset account and then pay him the same rate as the interest you are saving.

 

[danwatto]

Thanks guys

No PPOR loan, they have paid it off.

They just want somewhere to put their "Holiday fund"

DaveM - I had offered the Dan Offset saver product too, but decided not to put my their money at risk

 

[D.T.]

Why not just buy an IP with it

 

[danwatto]

alternatively, of course your dad can give you that cash and you can easily make a fortune for him

Mixing money and family (or friends), can be a dangerous recipe..
Had considered that, but I don't want anything holding me back from taking the risks I want to, no fear is the only way I'm able to keep going at the moment

 

[danwatto]

Why not just buy an IP with it

Because they just sold 2 IPs, they don't believe in them the same way I do. Which is fine, since they need to live off and/or spend this money anyway (just hit retirement). IP isn't going to give them the cashflow, and they want to spend this on holidays etc.

 

[twodogs]

Thanks guys

No PPOR loan, they have paid it off.

They just want somewhere to put their "Holiday fund"

DaveM - I had offered the Dan Offset saver product too, but decided not to put my their money at risk

Not their PPOR loan, yours. You then pay them what you saved in interest. Better rate than a TD.

 

[danwatto]

Not their PPOR loan, yours. You then pay them what you saved in interest. Better rate than a TD.

No PPOR here. Offset, but it's deductible so wouldn't be able to give him more than the banks anyway. Don't really want to have a lender/borrower relationship with family either, prefer to stay clean