Hey guys,
I know there have been a number of threads asking questions/considering how one should use their money (feel free to comment on mine or not) but I thought I might put my situation out their for some general advice and consideration before contacting a financial planner, mortgage broker with vast experience and knowledge (most likely one from this website) and really setting some goals and strategies to achieve these.
Background info:
- 21 years old
- 75k income from job 10k income from family development investment property (owned outright that I manage and take care of maintenance, mowing etc.)
- 500k PPOR - owe 300k
- 250k cash sitting in 100% offset
- The first purchase (PPOR) was done through a few players from my parents "team" of solicitor, accountant, bank manager, etc. Now looking to develop my own "team"
- want to invest in a number of investment options: shares, bonds, property, etc.
- prepared to take some risks as I am young and have a little money behind me - however do not want to try anything too crazy with a real chance of losing it all
So basically if you were in my situation - what would be your next step? Save? Buy for CG? buy for cash flow? Invest in shares/bonds? Development? Commercial? Inner city? Regional? Term deposits until a brighter world economic outlook?
I guess I am just a little lost with all the various options and a little pessimistic about the world financial outlook in the immediate future. But before I contact a broker/planner I would like to have some of my own ideas to throw around and question them about so I thought I would start on somersoft. I am hoping to maximize a fortunate start to investing by getting it right the first time and while I am young and by drawing on older, wiser and more experienced investors and surrounding myself with these successful and knowledgeable people.
Thanks for taking the time for reading.
YPG
I know there have been a number of threads asking questions/considering how one should use their money (feel free to comment on mine or not) but I thought I might put my situation out their for some general advice and consideration before contacting a financial planner, mortgage broker with vast experience and knowledge (most likely one from this website) and really setting some goals and strategies to achieve these.
Background info:
- 21 years old
- 75k income from job 10k income from family development investment property (owned outright that I manage and take care of maintenance, mowing etc.)
- 500k PPOR - owe 300k
- 250k cash sitting in 100% offset
- The first purchase (PPOR) was done through a few players from my parents "team" of solicitor, accountant, bank manager, etc. Now looking to develop my own "team"
- want to invest in a number of investment options: shares, bonds, property, etc.
- prepared to take some risks as I am young and have a little money behind me - however do not want to try anything too crazy with a real chance of losing it all
So basically if you were in my situation - what would be your next step? Save? Buy for CG? buy for cash flow? Invest in shares/bonds? Development? Commercial? Inner city? Regional? Term deposits until a brighter world economic outlook?
I guess I am just a little lost with all the various options and a little pessimistic about the world financial outlook in the immediate future. But before I contact a broker/planner I would like to have some of my own ideas to throw around and question them about so I thought I would start on somersoft. I am hoping to maximize a fortunate start to investing by getting it right the first time and while I am young and by drawing on older, wiser and more experienced investors and surrounding myself with these successful and knowledgeable people.
Thanks for taking the time for reading.
YPG