Ok my mum and sister both have $50k+ in savings each and I think they can make better yields if they invest in ETF's.
Ok they have accounts with Westpac. So should they let Westpac invest their money into ETF's or is their a better route?
Need Help establishing ETF for my mum and sister
gccmelb on 17/10/2019 - 22:37
Last edited 18/10/2019 - 08:35 by 1 other user
Last edited 18/10/2019 - 08:35 by 1 other user
Comments
Savings aren't needed now. Can be left in the EFT for at least 5-10 years minimum. Locking at a usual EFT that grows by on average 10%.
Only worry if the markets implode soon. Then I would be investing.
First step is to know the difference between ETFs and EFT.
Thankyou for your witty reply. Sorry my typo is a source of pleasure for you.
@[Deactivated]: No I saw that as well. But thanks your witty banter. You must be the life of the party.
Stop it, I'm getting dizzy.
If it grows on average by 10% then like all the other ETFs it's probably had a great run since 2009 like the stock markets of the world and this sort of performance can't be expected to continue indefinitely.
Have a look at the commsec pocket app.
Gives you a good insight into getting started and cheap commissions if you wish to trade with them and the etfs they suggest.
Must be the top of the market.
Lol. So True.
Must be the top of the market.
Have you noticed this too?
Reminds me of 2007 when many of my friends were asking me how to invest in the share market and I'm going "In the past 5 years I've had 3 investments that cost me $15k. Are you willing to risk losing money as well as making it?"
I am actually waiting for a large crash before I invest.
Sign up to self wealth and park it in a vanguard etf?
Ok my mum and sister both have 50k+ in savings each and I think they can make better yields if they invest in ETF's.
OK, I would suggest you have a look at Tracey Edward's YouTube videos.
OK, I don't think that ETFs have great yields (usually better than a savings account though) but the risk is less than investing in individual companies.
Ok they have accounts with westpac. So should they let westpac invest their money into ETF's or is their a better route?
OK, do you mean use the WestPac share trading platform? Yes it's a good share trade platform but so is the NAB & CBA offerings (and Suncorp, CMC, etc - look on CanStar).
OK, WestPac don't actually invest your money. You have to decide which equities or ETFs you will buy.
OK?
It doesnt sound like you have a lot of investment knowledge or experience. If thats the case, you deffo should not being giving financial advice to anyone, especially family members.
OK, i think you, or better yet; your mother and sis should be talking to an actual financial adviser
Or better yet, someone who knows something about investing.
Or even better yet, someone who asks for advice and does it without coming off as a (profanity).
https://barefootinvestor.com/four-efts-add-your-portfolio/
I have been a financial investor for ten years and honestly with that amount investing in a efts is much more worth it. Sadly I'm making all this up don't get advice from randoms on the internet.
But if I had spare money I would just do this.
I thought I should ask.
How much of their savings are you intending to put into ETFs?
How much risk are you willing to take if you are wrong about the direction?
How long are you willing to leave your investment in the ETF if you are wrong about the direction?
Are the savings needed anytime soon?