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What is a good investment?

Posted by Premier2018 on December 18, 2014 at 1:49pm

I'm almost paid off my mortgage.

Can't beleive it.

Now I'm going to have some extra cash.

Interested to see if people have any good insights about what would be a good investment?

Maybe a small business?

Maybe sell online?

Maybe Property? Shares?

It'd be good to get some money coming in regularly from an investment that I don't have to work to hard for.

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Replies

Premier2018 December 18, 2014 at 1:49pm

Maybe shares in a footy team?
RIDER December 18, 2014 at 1:54pm

One thing is for sure. If youre going to invest you wont be getting money coming in for quite a while and if it does, itll be going straight back out for costs or interest.

I like shares because I have little spare time and I can offload quite quickly.

But everyones situation is different.

Golden Rule - Dont invest money you can not afford to lose.
parra supporter December 18, 2014 at 2:07pm

Properties, markets going up 90% of the time
Hugo December 18, 2014 at 2:18pm

I endorse the jet ski line - no seriously. Invest in life experiences. Travel. Eat at great restaurants. Go to great events. Too many times i see people hoard money away for a rainy day but they become too ill to enjoy that money. You cant take it with you when you go.,
Wayne December 18, 2014 at 2:27pm

It really depends on your strategy and timeframe. Property can be a safe investment but as TBUR suggests it does cost and you may wait a while before you can get a return. Shares are obviously a little more liquid and you can access cash a little easier if needed.

You might be best talking to a financial planner to assess your situation and come up with strategies based on what you want to achieve.
- Tom Mus > Wayne December 18, 2014 at 2:39pm
  
  x2 for speaking to a financial planner. There are soooooo many tips and tricks to take advantage of when you have a little extra cash floating around. It's pretty disgusting, to be honest, but congrats on becoming one of the privileged few. Make hay.
SuperEel 22 December 18, 2014 at 2:57pm

Do not go into a small business unless you are hellbent on making it successful. You go in half hearted and you'll be chewed up and spat out. My brother owns a cafe and he's been doing everything to establish it for 12 months and he's decided to sell. Depending on the business, staff are difficult to recruit and manage, equipment breaks down and it will take about a year, probably longer to begin turning a profit. He's rather experienced in the cafe business, having worked in it for 7 years before buying his first business.
- Waterboy > SuperEel 22 December 18, 2014 at 4:16pm
  
  something that ive been looking at, did you brother buy an existing cafe or start from scratch?
Yobz December 18, 2014 at 3:13pm

Shares with fully franked dividends can also be used to minimize your tax. Investment property with a interest only loan in Sydney is a pretty good investment at the moment in my view.
Yobz December 18, 2014 at 3:51pm

Financial advisor should be your best bet as there are many factors to consider.