I have a spare 30K US Dollar in my account.
What would be the best option at moment to use this to see this growth or stay conservative with current uncertainty of global trade wars?
It's what most ozbargainers have in their everyday transaction account.
Wow I must be the exception with $0 in my checking account.
Nah I am right there with u
I also have $0 in your account.
Yep…all of the savings accounts are capped out so have to leave the surplus somewhere…🤔
Chump change 😂
I would say, unless you are going to physically use the USD, why not convert it and either do 1 or 3 (don't lump sum it)
Buy gold bullion
Better yet, buy Rolex watches. They outperform gold…. said somebody.
Luxury watch market has tanked in the last couple of years. People have finally worked out these things are not rare. Rolex makes around a million a year. It's a mass produced factory product.
Rolex makes around a million a year.
I thought they'd be making more profit than that. I suppose they're cooking the books like all the other big corporations to minimise taxes. /s
Shhh if you say it too loudly, the spell will break.
said somebody
Rolex said so.
give to me
I'll split it with you 50/50 so $15k to you and $15k to me
Ok good
It depends!
Since the AUD is low putting it into offset will give you a certainty of return.
Shares if you have some kind of certainty like insider trading information.
Term deposit you get like 5% gross before tax if you are lucky but your home loan is 5.5% after tax.
Shares if you have some kind of certainty like insider trading information.
Errm okay?
You just don't know when Trump decides to announce something that would send the market down 10%
If you been following the news everyone up in arms over the call options placed the hours before Trump announced 90 day delay on higher tariffs but universal 10%.
Ive not seen a 5% term deposit?
The cash rate on saving accounts seems to better than most terms.
The Australian government 25 year bond is 4.9% yield to maturity, sometimes you get 5%. You buy it for $75. Get 3% a year and the rest is when they give you $100 back at the end.
Those that know how to access knows but those who don't don't.
Load ALL IN to any Jmac horse this weekend.
BANGGG
You should consider if what you are planning triggers a CGT event.
Currency conversion rules are very complex.
Best Use of 30K US Dollar
One imported Chinese made iphone.
I always advise to keep funds in the same currency as intended for its eventual use.
To do otherwise is effectively punting on the FX rate.
42 minutes and no one has said to put it all on black?
I'd put it on red and black, just to be safe.
Good idea
Green has a far better return.
nobody has a crystal ball
Is that a marketing hint for the $30K?
Buy crystal balls - apparently they're rare.
SSS
Option 1 for now and decide later.
I would treat it the same as any other 'spare' money when you have debt - use it to pay down the debt with the highest interest rate.
Assuming you have no other car/personal loans, etc, convert to AUD and put it in your offset. This should give you a ~6% return tax free, which is going to be much better than any term deposit you can get. Might be similar or a bit less than returns on shares or similar instruments, but with a whole lot less uncertainty/gambling.
Plus if it is in your offset you can always use it for something else immediately if required.
I will go do some research, but ai thought an offset acoount was for paying down a loan?
We have ended up with some good savings, over 60k and dont really know what to do with it.
We don't have a home loan, and house prices are so high we can't borrow on our income atm, one of us is looking after our child 3 days a week.
I wish an basic 3 bedorron house was a reasonable price!
Option 4
$47,200 converted via Wise. That should be a nice chunk into offset account.
Wait for Trump to say "GOOD TIME TO BUY" and buy up as many IBCs of Ivermectin as you can.
Now is a very good time to convert it to AUD. Then pay down any debt. Invest rest in super or managed fund or mortgage.
Unless you intend to use the US dollars for a US investment or other purpose, the best investment you can make is a mortgage offset account.
Any investments you make will be taxable and almost certainly not as good a return as not paying interest.
BTC
Amateurs
Everyone knows that art has been the best financial investment over the last 100 years
I wonder how Blue Poles makes Australia richer fiscally, considering we'll never sell it, and it probs costs a fortune to insure per annum.
People come from all over the world to look at it and wonder 'really, is this it? Surely you're joking?'
Sure was a controversial purchase. I think it's the emperors new clothes syndrome as far as worth and artistic endeavour. It may as well be worth a carton of beer, for all the dividends it delivers. Maybe wank factor could be a new descriptor for BTC and Blue Poles type artworks.
@Protractor: Blue Poles (aka No 11, 1952) cost $US1.3m in 1973 apparently.
Looks like a bargain compared to whoever bought No 5, 1948 in 2006 for $US140m.
Money laundering anyone?
@Grunntt: $1.3M back then is worth what in todays $$?
Bottom line is Blue Poles is of no value to the buyer (tax payer). It's a blue elephant
Money laundering anyone?
Yes, probably.
I can't believe the government thinks they can stop money laundering by getting banks to be all nosey and privacy invasive with ordinary people.
Compare option 1 in offset account vs option 2 to term deposit, almost no brainer to put in offset as it's higher in interest and not taxed as income
Also, offset account is easier to access if funds are needed urgently.
$30k USD=$47k AUD. If you're not saving up to buy a better house, put $20k in shares, $10k in superannuation, $10k in mortgage offset or high-interest savings account, $5k in cryptocurrency, and use the remaining $2k to buy a nice piece of furniture or create a nice computer/workstation setup.
Out of all those replies, this seems interesting to explore. But you get neg. lol
better put it on $TRUMP no better way
Yolo into SPX calls one month out
All on black
too late
The odds are still the same.
Milkshakes
MSTY
Hookers
Invest $25K into hookers, drugs and drink…you can then waste the other $5K on something frivolous 🤪
Considering our dollar is so weak, it could be a good opportunity to convert from USD to AUD.
When interest rates are high, offset can be good. It keeps your money accessible if you want to use it for anything else (including investment). Keep in mind that if you use a high interest savings account, you will pay tax on the interest you earn (which can often mean that your offset is putting you in a better overall financial position, even though you're not seeing extra dollars come into your account).
Make an account at www.cmcmarketsstockbroking.com.au then fill out the tax form to reduce your USD tax from 30% to 15% (we have a treaty for that) and buy at least 10k of that into MSTY. Sit back & enjoy monthly payments. April payout was 1.3356 USD / share. If you round MSTY to say $20 a share thats an annualised payment of 68% after tax.
If your feeling confident go balls deep into with the full 30k but personally I would use 10k and put the other 20k into leveraged grid bots as 15k while keeping 5k spare for margin.
www.cmcmarketsstockbroking.com.au/Market/Summary.aspx?asxcod…
DYOR
That's usually frowned upon. Please only trust the experts. /s
While I understand what your saying I feel you should always tell others to do their own research because at the end of the day you have nobody except yourself to blame for wins and losses when it comes to investing. Nothing worse than seeing somebody flip out over following a so called "expert" only to loose money.
You could finance fresh drinking water for a small town in Bangladesh,
or vaccinate 5000 vulnerable kids in Tanzania.
Some decent advice in here.
1. If you have a healthy emergency fund
2. You have control on your finances
Then, I suggest you keep it in USD and invest it in the US stock market. Everything is in sale right now, even some good long term holds can be valuable long term (AMD, Amazon, google etc)
If they live in Australia and are likely to do so for the foreseeable future, there is no reason to keep it in USD.
low risk: VOO (S&P 500 ETF) - SCHD (Dividend ETF) - BRK.B (Berkshire Hathaway)
If it’s spare donate it to charity.
deposit to buy yourself a home
Give it to the bikies
I better check the console of my car i might have a spare 30k in there.
Home loan is where its going.
Maybe behind the seat?
I too have a single $30,000 coin.
Put it into SNP500 let it ride… All time highs before the end of the year.
Vanguard high yield
If it was me I would split 3 ways ($10k each) between some of the main cryptos (bitcoin, etherium, XRP, Solana), some physical (in the hand) gold and silver and some listed broad based share ETFs.
This is assuming you (or I in this situation) don't own any of these already and this is the total amount available to me.
Pay down non deductable debt. Followed by whatever else reduces your debt burden.
3 or buy puts on US equities
If Nvidia (NVDA) drops below USD$100 again (which I think it will, the tariff stuff won't be over for a while) I'd be picking up some of that.
A spare 30K? Besides this being an obvious humble brag for attention, maybe go see a financial adviser. Just a thought…..
Voluntary super contribution. Spend the tax refund.
Chuck it in your mortgage offset and/or dollar cost average into Bitcoin.
It's only 47k people ease up.
Gold to the moon.
You missed few days, AUD was briefly under 60 cents just recently - would have been good chance to exchange to dollaridoos. Maybe wait for 90 days when tariffs are back in the agenda. I just changed my USD to AUD and put it to my offset account
DCA NVDA & TSLA as they fall.
Today was not a good day for USD denominated assets.
Assuming you 20-50 y.o working person earning 100K+, willing to work another 15+years with no loans other than mortgage, with life expectancy of 75+, not willing to break the law, in decent physical and mental shape that prevent habits like gaming/ alcohol here is my humble advice: invest it all in combined American stock market VOO or IVV with Devidend Reinvestment Plan option from within your SMSF. By doing so you only pay 15% on devidents instead of your marginal % thus boosting wealth further up in next few decades.
After setting things up in accounts/ apps, forget about it till you retire and live your life. Profit.
humble brag