Need Help establishing ETF for my mum and sister

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?

Comments

  • +2 votes

    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?

  • +1 vote

    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.

  • +5 votes

    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?"

  •  

    Sign up to self wealth and park it in a vanguard etf?

  • +2 votes

    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?

  • +12 votes

    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.

    • -9 votes

      I have been researching ETF's for a while and having been looking at the Vanguard ETF, as I want my family members to have something safe yield now that term deposits are so low. But yes thankyou for your no advice.

  • +1 vote

    OK, i think you, or better yet; your mother and sis should be talking to an actual financial adviser

  • +1 vote

    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.

  • Top