Newbie with too much money

[JJB]

Ok, so I have recently finished sueing an insurance company for an injury I recieved in an accident that wasnt my fualt.

I'll cut straight to the chase, I have a little over 200k to do what I want with and would prefer it to grow.

I know little about investing and currently only have the money sitting in a 5.5% account as I just got it.

Advice please

Cheers

 

[Joe Blow]

Okay, here we go again:

JJB, it is illegal for any ASF member to offer you financial advice about how to invest your capital. The only individuals legally permitted to offer this kind of specific financial advice are licensed financial advisers. If you are unsure as to how to invest your capital, I suggest you consult one. These links from ASIC's consumer website may be useful to you:

Getting financial advice
Choosing a financial adviser

Plenty more info at that website that you may find useful.

Any posts in this thread that offer you specific financial advice will have to be removed.

If you prefer to take a do-it-yourself approach then you will need to start educating yourself. A good place to start is here at ASF in the Beginners Lounge forum and the Trading/Investing Resources forum. Plenty of interesting threads in there that contain useful discussion and links to various resources both online and offline.

 

[Sdajii]

Beer. Beer and hookers.

Probably more than you deserve to spend it on considering how you got it

 

[pixel]

Ok, so I have recently finished sueing an insurance company for an injury I recieved in an accident that wasnt my fualt.

I'll cut straight to the chase, I have a little over 200k to do what I want with and would prefer it to grow.

I know little about investing and currently only have the money sitting in a 5.5% account as I just got it.

Advice please

Cheers

"Give it to me! Give it to me!"

This piece of advice is not advice, but only my considered opinion. Posters at ASF are neither able nor allowed to give "advice".

 

[mr. jeff]

Ok, so I have recently finished sueing an insurance company for an injury I recieved in an accident that wasnt my fualt.

I'll cut straight to the chase, I have a little over 200k to do what I want with and would prefer it to grow.

I know little about investing and currently only have the money sitting in a 5.5% account as I just got it.

Advice please

Cheers

Joe looks like this is your test - some media person/financial advice investigator type authority checking out the forum for discipline!

NO ADVICE HERE, NEVER HAS BEEN, NEVER WILL BE.
this is my advice to you.

It is about as possible to sue an insurance company successfully as it is lick your own ear without cutting it off first.

 

[pixel]

Joe looks like this is your test - some media person/financial advice investigator type authority checking out the forum for discipline!

NO ADVICE HERE, NEVER HAS BEEN, NEVER WILL BE.
this is my advice to you.

It is about as possible to sue an insurance company successfully as it is lick your own ear without cutting it off first.

you could be right, Mr. J

 

[Tanaka]

Okay, here we go again:

You gotta love Joe's patience, if only he had a dollar every time.

 

[drsmith]

I'll cut straight to the chase, I have a little over 200k to do what I want with and would prefer it to grow.

I know little about investing and currently only have the money sitting in a 5.5% account as I just got it.

For a start, you can do better than 5.5% on cash,

http://www.anz.com/aus/promo/olsdr/default.asp?sourcecode_1=QOK

or more generally,

http://www.infochoice.com.au/banking/savings-account/high-interest-savings-accounts/

 

[youngone]

<<< fellow newbie may need a good 10k ka ching!

 

[nunthewiser]

i can help

pm me your contact details and an associate will be in touch shortly.

 

[tothemax6]

You mean 'Newbie with not enough money' .
Otherwise this is the wrong forum.

If I were in your shoes, I would simply spend the next two months sitting on the money and doing nothing. I am sure you have that itchy feeling of 'have a large amount of cash now, must do something with it'. Keep in mind that many lotto winners lose everything because of this itchy feeling.

Cool down.

 

[youngone]

If you want to get into investment, why not invest in a house. If i have 200k first thing would be a house. Money can be used on upgrading the house instead of rents and bills every week. Even rent out the rooms.

Most international students would pay up to $300 a week a room or a house. Best investment strategy and no need to watch the market.

 

[againsthegrain]

U can get 6.5% on savings, look around harder rather then look for quick easy answers. Property is a fail for short term investment in current market.

200k is not much, if you are asking on forums for serious invrstment advice seriously re consider investing at all. Sounds like your on a quick path to a loss.

 

[Julia]

Sorry to hear that you were injured through no fault of your own. I expect recovery and the whole legal thing has been difficult.

I wish you all the best. $200K is a start. drsmith has given you the link to infochoice.
Your $200K would neatly fit into their "up to $200K" at 6.5%. They're good to deal with.

 

[JJB]

Beer. Beer and hookers.

Probably more than you deserve to spend it on considering how you got it

bit uninformed mate, I had to have part of my body amputated to get it!

 

[JJB]

U can get 6.5% on savings, look around harder rather then look for quick easy answers. Property is a fail for short term investment in current market.

200k is not much, if you are asking on forums for serious invrstment advice seriously re consider investing at all. Sounds like your on a quick path to a loss.

I appreciate your feedback, but when you reply with something like this your not taking into consideration that I curently have it sitting in 5.5% as I have only had the money for 7 days. Also not being taken into consideration is that I have asked so I can become informed yet am being treated as otherwise. I have asked so people can share thier knowledge with me and help me to do the best with this money.

How people are interpretting this is "HEY TELL ME WHAT TO DO WITH THIS MONEY!!! I HAVE UNTIL TOMORROW TO INVEST IT SO BEST ANSWER WINS"

However this is not the case and I am merely asking for you to share you knowledge to help me make an informed decision.

 

[prawn_86]

However this is not the case and I am merely asking for you to share you knowledge to help me make an informed decision.

As Joe stated this constitutes personal advice. I see no further reason to leave this thread open.

I suggest you do a search to learn about various products and decide from there, or consult a licensed advisor.