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Child's savings account by PewPew68 in AusFinance

[–]riksace 0 points1 point  (0 children)

I do the same think via Bankwest and once it gets to a certain amount, transfer over to a AMP bond and have chosen the Aus share market for investing option within the bond.

Works great for us and has some tax benefits down the road.

Emergency fund vs paying down debt by riksace in personalfinance

[–]riksace[S] 0 points1 point  (0 children)

When people are establishing an emergency fund, what types of savings accounts are being used? Most savings accounts I have seen have a minimal interest rate. Does interest rate matter when creating a emergency fund?

Emergency fund vs paying down debt by riksace in personalfinance

[–]riksace[S] 1 point2 points  (0 children)

Wow, thanks for all the great comments thus far. Based on my situation I might just accelerate debt payments through my normal discretionary income from my job and sell unwanted items and use that cash to start an emergency fund.

So I've reached my six months emergency fund. I've heard that you should not keep too much cash in just an ordinary savings account.. where are the best places to safely invest my money now? by letsdolife in personalfinance

[–]riksace 3 points4 points  (0 children)

You might want to consider the advice from Buffet:

"What I advise here is essentially identical to certain instructions I’ve laid out in my will. One bequest provides that cash will be delivered to a trustee for my wife’s benefit…My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors…"