I have about $10000 currently – will need this whole amount by end of year. Also trying to save for a house and will be putting away at least another $20000 this year and the next until I have enough saved up to buy a house.
I am trying to figure out the best place to save this money and have been looking at managed funds, fixed term deposits, shares, etc.
I am also interested in some insurance, would like to select a better Super fund and wondering about a few other things.
To make sense of it all, I am wondering whether it might be worth seeing a financial advisor, but I most definitely will NOT be seeing any "free" financial advisor who makes money on commissions, because I believe it's impossible for such an advisor to act in MY best interest.
Can anyone recommend a good investment for my situation or a good financial advisor in the Perth area who does not derive commission from products they sell?
Have you thought about rolling your existing super into your own smsf (self managed super fund) and using it to buy property? Banks will loan up to 80% for such a purchase, so your smsf would just need 20% deposit, stamp duty, legal fees and a couple of extra thousand for incidentals…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi Daniel,
Have you thought of talking to a Stock Broker regarding your situation? Most managed funds have a 3+ year timeline for investment. If you get a good broker and explain your plan, they would be able to point you in the right direction. Most of my clients who use a broker and me personally stay away from IPOs and pay the broker on performance.
The SMSF idea is good, but most people need a minimum of $200k in their fund and you can't refinance and re-leverage. So not such a good strategy for a younger person.
If you want me to give you some names, let me know.
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