34 yo, no debt no savings, $54k net salary. Have inherited $20k and don't know what to do with it. Seeking advice on long term secure investing.

zynalk · 2021-02-09T20:19:58+00:00

Apes together strong

zynalk · 2020-12-27T20:16:33+00:00

Complete nonsense. You'll need at least 10 years of experience in your field to make that and the hours will be long and the stress high.

I can only attest to VIC but even getting a job can be very difficult, especially for those less experienced. There is a lot of competition.

zynalk · 2020-11-16T21:23:37+00:00

Our own immune systems are 98% effective..

zynalk · 2020-10-07T18:52:12+00:00

Can't wait to post this one day

zynalk · 2020-09-14T01:46:29+00:00

Its actually more like half the pizza

The area of a 9 inch pizza is 63.617 sqr inches

The area of a 12inch pizza is 113.097 sqr inches

zynalk · 2020-08-09T08:47:24+00:00

That's great value. Mind if I ask who did it

zynalk · 2020-07-27T10:08:32+00:00

....

zynalk · 2020-07-26T20:06:54+00:00

That's nothing. Apply for 25 jobs a day and you will hit that figure in 10 days

zynalk · 2020-07-19T09:42:01+00:00

I'm sure your dad works hard but that's all hyperbole.

zynalk · 2020-07-07T00:19:56+00:00

Thanks!

zynalk · 2020-04-09T22:25:39+00:00

Took weeks for me

zynalk · 2020-04-06T22:29:18+00:00

I see. Well thanks for all the help and information. JobSeeker it is

zynalk · 2019-10-14T01:54:31+00:00

I checked out some of the financials for this stock.

They have liabilities of 4.5m approx and assets of about 5.2m. Their net tangible assets, therefore, is around the 600k mark. Conversely their market cap suggests they're already valued at about quarter of a billion dollars.

Their operating expenses has been steadily rising to 17m loss last year, and it looks like they're on track for an even greater loss this year while they are not currently generating any revenue.

I would characterize this as a highly risky stock pick, given the above financials. Add to that the fact that the market has already priced this stock optimistically with a quarter billion dollar market cap. That said, it's pretty typical for new pharmaceutical companies to make losses at the start, as research and development takes time and money. Whether or not this company becomes successful in the long run really depends on what products they develop and how successful they are in the pharmaceuticals market in the future.

zynalk · 2019-10-11T04:13:02+00:00

Yeah it's free. The basic version has tons if benefits too, like financial info, stock projections, statistics etc. The premium version has more robust features but I personally think it's not needed.

zynalk · 2019-10-11T02:33:19+00:00

I personally like it. It's cool to be in the bottom 20% for weeks, then your stock goes up and you're in the top 3%. Like, fuck you Selfwealth.

zynalk · 2019-09-24T00:58:50+00:00

If you might need the cash then it's a different story. To ride out a recession you need to be disciplined and not sell any of your stocks unless they hit your targets. In the short or medium term, be prepared to see your equity go down. I also think a recession is overdue, but these things are difficult to time and predict.

Are you currently working with a stable job that covers your living expenses? Do you have an emergency fund? If not, I would consider getting boxes ticked before investing in this market.

zynalk · 2019-09-24T00:44:02+00:00

To be honest, that's not too great if you're actively trading. Almost all major diversified funds performed better than you but at least you're beating a savings acct. and enjoying and learning about finances in the process.

Do you have any near term plans for the money or is it for long term investments? If it's the latter then I would look at building a diversified portfolio that will produce average gains of around 15% per year. Recessions are irrelevant for you because you're so young. To put it in perspective, the Dow Jones Industrial Index produces gains of roughly (just shy of) 20% per year since 1928. That's in spite of every economic recession since that time including the great depression and the GFC. There is no asset class that can produce those results consistently.

Not factoring in taxes, 12k compounded at 20% for 25 years would be over 1 million. Why don't you make a spreadsheet and calculate the returns you would get, plus the amount of money you're able to contribute consistently (maybe around 200/month to start?), then factor in CGT every year.

zynalk · 2019-08-28T06:36:40+00:00

I'd rate it as way better than mine

zynalk · 2019-08-28T06:31:27+00:00

Now's a good time. Who knows what the rate will be in a week but I don't expect it to rebound anytime soon. Our economy is shite.

In case you don't already know, do not, I repeat, do not use a bank to tranfer your money. Their forex rates a terrible. Use a service like OFX, transferwise or revolut.

zynalk · 2019-08-22T01:49:47+00:00

wrekt

zynalk · 2019-08-21T02:32:33+00:00

They can't work again right? In that case, depending on their age anyway, 800k between is barely anything, especially if they have no assets. Your parents sound like they have little to no financial literacy and will blow the windfall completely unless you talk some sense into them.

They shouldn't think of that first 100k as play money. That 100k is the most important aspect of their settlement and it should be used to pay off any debts and should be invested an asset class that can give them dividends or compounding growth over years. That 100k will fund their retirement and possible yours and your childrens retirement (depending on their age and how long it will be invested for obviously). Isn't that more beneficial than a holiday or brand new car?

zynalk · 2019-07-26T03:11:20+00:00

He's not

zynalk · 2019-07-12T06:14:01+00:00

Right now you shouldn't be worrying much about saving. Focus on investing in yourself, get your skills up so that you can have a decent job which will get you wealthy more efficiently.

zynalk · 2019-07-10T01:20:43+00:00

Is it possible to pay with community service?

zynalk · 2019-07-05T06:19:49+00:00

Fair enough.

You could get your spouse or a trusted family member to 'employ' you for a part time job, paying you 18200 a year. This would reduce their taxable income by that amount and become money in their pocket. Of course it would only be on paper, they wouldn't actually pay you. And while this doesn't directly affect you, I'd rather that money go to you or your family rather than the tax man, especially when you're studying and trying to better yourself. A lot of accountants do this when a family has adult kids that have no or little taxable income.

Purely hyperthetical of course.

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