The OPTIMAL ORDER For Investing Your Money In Australia
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- Опубликовано: 23 июл 2024
- There is an optimal order for investing your money in Australia. This is the best video for beginner investors on how they should invest their money in 2024. From paying down your high interest debt, salary sacrificing into your superannuation to investing in ETFs and stocks, I'll guide you step-by-step in this video.
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▼ ▽ TIMESTAMPS
0:00 Intro
0:44 Build an emergency fund
2:46 Tackle high interest debt
4:22 Invest and receive up to 50% return
5:50 Get more money from your employer
9:55 Brokerage Account
12:59 Tackle low interest debt
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Is this the order that you guys invest your money? 💸
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Thank you, mate. Making the effort to get my advice from Aussie channels, so much easier to understand.
Glad to help!
Well explained and clear video. Agree it is for people who know nothing about personal finance.
First Home Super Saver scheme is the most under valued and under rated way to get FREE money towards buying a house. I don't hear enough advertisement for the scheme and frankly am shocked by how little people use it. Not only can do you get the tax benefit (free money) you also get earnings generated from the voluntary contributions, if I had known about it years ago I would have used multiple financial years to maximise it.
I had a free advice session with my superannuation - I learnt about this. What a great scheme!
Thanks, really enjoy your efforts.
You deserve more subs than what you have
Great, I happen to have several thousand in savings that can meet my interest earnings goal.
If you have a good capital, you should definitely have some flexibility. I would consider diversifying across different asset classes.
I agree. Given the uncertainties, it might be wise to allocate a portion to safer options like bonds or fixed income securities.
But don't forget about growth potential. I balance my safety with opportunities for higher returns, through a mix of stocks and real estate.
@@ReubenAxelsonThat is smart
The problem is that people don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging condition
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm a beginner, but I'm not sure if their services would be all that helpful.
Before a brokerage account I got my kids into managed funds with regular monthly contributions to help train them for regular saving. My youngest has now opened a broker account and will start in etf’s. The eldest has a hecs debt so some years to pay that down before moving to the brokerage stage.
The only problem is the Government controls the age where you get to access your super. That is a risk i add into my investments. Add money to something i may never see
Hi Raymond, can you please compare business credit cards. Heaps for great offers at the moment. Cheers
Ive been investing $500 per month for the last year while also saving for a home, is it best to pause my investments to focus on savings or should i balance it out?
Hey Raymond, do you know if there’s a cool off period on Velocity bonus points like Amex has with it’s cards? (18 months)
Would love to know how fast tracked I can credit card hack!
This depends on the individual card itself as each one will have its own T&C, it can sometimes be 12 months
1:15 "Pineapple Piz-"
"PREPARE THYSELF."
Great video. What are your thoughts on investing in etfs within super? Like member direct in Australian super
Definitely a solid option if you want more control over allocations, you also get the ability to select indexed investment options through member direct which will have lower fees.
@@raymondla thank you. Love your videos
Hi raymond, I’ve got a question. Why are there term deposits rates of 4.9% for a year, and are there 5.5% on saving accounts. The bank is supposed to give more because I'm leaving my money alone for a year, but savings accounts give me better returns and I can withdraw my money at any time. I hope you can help me with that dobt. Thank you.
Hi mate, the reason for this seemingly odd discrepancy is that the 5.5% bank rate may change (typically in response to the Reserve Bank changing the cash rate). So, while it seems obvious that the savings option at 5.5% with no-lock-in is the better option, it may not be if the cash rate drops. For example if you lock in at 4.9% in a term deposit and then interest rates suddenly drop, you'll be glad you got the term, because the bank has committed to paying you that amount.
The answer as to what's better really depends on your need for liquidity (instant access), your need for certainty of returns, and speculation about what RBA will do with the cash rate.
Hope that helps 😃
To clarify, do you think we should pay off mortgages/100% offset them before investing? I feel like if we did that, we'd never invest. I currently am about 65% offset and was thinking of starting to invest in shares.
I think this is personal preference, being completely debt free can be quite liberating but you’ve already significantly offset your mortgage. Another option to consider is debt recycling which turns your non tax-deductible debt into tax deductible debt
Love from Sydney ❤
❤️
Can you do video on whether to pay down your mortgage vs invest in stocks/buy an investment property? Thanks.
Hey mate I did a video on that comparison here - ruclips.net/video/wnddYpDVsB0/видео.html
I got like 100k and no debts. 24 years old now. What should i do
Great video. How long is your offer with tiger brokers available for?
I don't believe there's an expiration with the offer, but once you sign up you'll need to deposit within 7 days to receive the full bonus.
"Any contributions that are made to your superannuation are only ever taxed at 15%" - except when it's taxed at 30% because Division 293. Sure, it only affects
I got the shock of my life when I was hit with a tax bill due to Div 293 tax. I was ensuring that I stayed within my backdated self contributions, only to learn that I pushed myself into that bracket. Made it even worse was the extra tax I had taken out of my wage, was gobbled up to pay the Div 293 tax (was paying extra in tax as a savings account for land rates that come in the financial year).
So in Australia what is the equivalent to a roth ira in America or ISAs in uk
super (taxed internally at 15%) is our equivalent but our employers are forced to put in 11% of our salary into it. We can add extra as discussed in this video but only get the 15% contribution tax up to the concessional threshold (unless we have carry forward allowance). Genrally cannot access super until you are 60 and retired or 65.
@@cruiserdoggaming1 That is similar to a pension then? But I meant something to invest into the stock market with some tax advantages ie any money you put into vanguard index funds what not, can you do that with super funds aswell?
Yes you can have control over what your super is invested into. Either through a DIY option where there will be a few options to choose from. Or via a SMSF route where you have 100% control, you can buy stocks, bonds or even a property via this route. But the admin overhead becomes a factor with this route
I don’t think mortgage is 5% nowdays
The video ended so abruptly lol
After living here all my life I disagree with the priorities in this video. Whilst they’re all good, I would suggest getting a property as soon as you can, then consider all these after
How to be rich in Australia: Buy a property
Sadly.
Question; if I make over 60K, but with Salary sacrifice I end up under 45K. Am I eligible for the Gov contribition?
I’m not 100% sure on this but I don’t believe you would be unfortunately
Your chapter titles don’t match this video.
Thanks! I've fixed it up now haha
1. Emergency fund with 5% p.a - ✅
2. Pay off personal and car loans - ✅
3. Passive Investment - ✅
4. Owns a property - ✅
What else should I do to be in a better position?
I think you're already in a pretty awesome position man, just continue to pay down your mortgage (if you still have one) and either dollar cost average into the stock market or look to invest in another property.
@@raymondla thanks. Honestly, I feel a bit stressed as I’m still not yet there. My goal is to retire within 5-10 years (I don’t want to retire old). I think that’s what they call Financial Freedom. And never let my kids to experience the same hardship I had when I was younger.
How to shift my hares from IG to another platform?
Most platforms will allow you to initiate a transfer from another broker/platform
My mortgage is above 6% 😕
Ouch! If you haven't already try and call your bank to seek a lower rate!
Same 😂
@@raymondla I did reduce it a couple of years ago and the rates on their website are what I'm currently paying. Might be time to give my broker a bell and see what is out there. Best I've seen online is 5.94%, and I'm at 6.24%.
@@raymondla the lowest advertised variable rate in the market is not much less than 6%. Where are you getting these fanciful 4-6% mortgage rates from?
@@deanstyles2567 I don't think Raymond has a mortgage, he seems to have little idea as to what real rates actually are.
Family of 5, emergency fund would need to be about 60k. Seems unlikely
I lost over $75k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Patricia Annie Brooks.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
You trade with Annie Brooks too? Wow that woman has been a blessing to me and my family.
YES!!! That's exactly her name (Annie Brooks) so many people have recommended highly about her and am just starting with her from Brisbane Australia🇦🇺
I'm new at this, please how can I reach her?
Her good reputation already speaks for her .I’m also one of the beneficiary of Annie Brooks. So happy I gave it a trial after being skeptic of the process.
you didnt mention buying property at all? which trumps any other method you said