So I have a wedding coming up and my fiance has a horrible and very painful family member who wants to give us $2k as a gift. Cool right?
Well she wants to give it to us in the form of an investment in anything we like (with her approval of course and no Bitcoin - classic!). Anyone got some good easy ideas? We really don't need an investment as we have a mortgage that it would be better used for but oh well.
They are into coin collecting so I would say gold bullion is an investment they would agree to. Cheers!
no bitcoin. that's easy.
ethereum then
Gold ring?
tortilla making machine or printer (t-shirts, 3D, sticker maker)
or one of those hot dogs machines like they got in the 7/11
my fiance has a horrible and very painful family member who wants to give us $2k as a gift
Yes, I do realise this is ozbargain, but if that's really your opinion on this family member, why are you even accepting this gift?
And if this person is as horrible as you put it, then fast forward a little and I can imagine this happening > "I even gave them $2000 for their wedding, I can't believe they're treating me like this!".
No doubt you'll be constantly reminded that they gave you $2000.
Don't sell your soul!
As bad as it sounds, I agreed with bobbified. The last thing you need on your wedding date/days leading up to the wedding are negative people and their attitudes.
Edit: never mind, read the below comments after posting
I say pick a share each (maybe something you both like, represents you/your relationship) and get her to buy $1k worth of each.
Then you can compare which shares are doing better, etc.
Choose a stable share on the ASX and sell them as soon as you receive them
This is an easy/good idea. (Don't even have to sell them but if you'd rather the money in your mortgage that could be a good option.)
The gifter sounds like a punish and someone that would ask for proof of investment at future family events.
On the contrary, why not an index fund / ETF? VAS/VGS/etc. are much safer than a single share, as they are based on a number of shares instead.
What a horrible person giving you a $2k gift
You must be a great person OP
This person was never married into the family and yet sued for all of a family members stuff when they passed away. They now 'gift' us our own family's stuff every year that should never have been theirs in the first place. Let that give you an idea of what they might be like.
So if they are so evil why do you invite them to your wedding?
Yeah I’d put 2k in a blue chip stock and sell them if you want cash. Otherwise hold onto it and take dividends.
Is she imposing any rules around how long you have to keep the investment for?
I don't think so but I doubt that will last haha
Argo or afic
This, and if you don't want to keep the shares and throw it into the mortgage, just sells the shares.
Sink some schooners at the local RSL while punching it through the pokies.
buy ICO . ClearCoin.
You should invest $2K in my future ;)
Are you a better investment than John Doe?
What about $2K worth of reno to your house - e.g. update kitchen or bathroom, or have some painting done or landscaping - investment into the value of your house :-)
Invest in the sharemarket; suggest something stable like AFIC (AFI.ASX) which will provide long term growth. You can take the cash dividends or participate in dividend reinvestment if you want to grow your investment.
My two cents….
If they're as horrible as you say then decline the offer. As stated already don't sell your soul.
Just say thanks for the offer but no thanks, I don't want your money tied up in an investment.
If you really must accept it then a blue chip share then sell it….or a superannuation contribution.
or a superannuation contribution.
Great suggestion.
You might even qualify for the Government co-contribution
Imagine how much a wonderful family member would give you? wink2
Why not use the 2k for "investment in real estate"? i.e. use the 2k to pay off your mortgage. After all, your property can be an investment as well. :P
Otherwise, for non-crypto invesments:
High risk / return - lithium related stock
Medium risk / long term - exchange traded index funds
2k travel vouch for your honey moon
invest $2k in a way to tell them to shove it.
Put it in the Vanguard index share fund. Lowest cost and it tracks the market.
Pre-paid gym memberships for a few years? It's an investment in health no?
hopefully by giving you 2k, they won't sue you after a few years asking for a share of gifts your got in your wedding.. not sure how that will happen but remember someone said "horrible and very painful family member"
VDHG depending on your age.
The best investment is your mortgage. If your marginal tax tate is 30%, the pre tax return is 5.7% assuming a 4% mortgage rate. For a zero risk investment, that is an incredible return in the current low yield environment.
I completely agree but that won't fly unfortunately.
Invest it all on black.
I suggest Acorns, decent return, low risk, at call.
Having read the comments above, I would suggest to reject the gift.
I was going to suggest to install a remote control garage, a deck ceiling, pool umbrella, shade sail or something for the house that singularly would cost $2k.
But after reading all the comments and answers, I dont think I want to be reminded of the presence of this person on a DAILY basis. So Nah….
Do you work for Westpac? If so, a Mercedes is a good investment apparently.
Now that's out of the way,
You're not going to get much for $2k, but maybe some Art to hang in your home?
What about Gold Bullion?
She/He can gift you something physical and you can show it to them as proof you still own it down the track.
Maybe if/when you have kids you can sell it and transfer the proceeds to a Trust fund for your kid. Make sure you tell them about that too.