Hello OzB, long time member and occasional poster looking for some investment advice on my favourite online forum.
Following my 18th birthday, my father gifted me his yearly bonus (~$5k) on the condition that I invest it in some form within for at least the next 12 months.
It is currently sitting in a term deposit account with 2.60% interest, however I would like to explore other (read: higher growth) forms of investment with this money.
At the moment I am not willing to personally invest in individual stocks, and so I'm considering investing this money into an ETF.
As I am only 18, I am willing to take on a higher risk investment that, longer term, will yield higher growth (Will only be looking to withdraw this money in 7-8 years time, when I intend to move out)
I also have:
* $15000 sitting in the 2.60% term deposit saved from part time work.
* $2500 university scholarship I will receive at the end of each semester this year
* No credit card/credit card debt
* ~$4500 deferred HECS debt
I am willing to invest some of the money I have saved through part time work in addition to the gifted money as well, whilst retaining at least $7k in savings (emergency fund)
I already have ~$8k in superannuation so I am not looking to contribute to that at the moment.
Any advice is appreciated.