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Ian L.
Ian L.
Seaton, SA
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I have just started my job and have started saving. I would like to invest in the future be it in a term deposit or shares and would like to know how much I should save before it is worthwhile?

7 years ago

Responses

Hi Ian,

You could get away with commencing a share investment portfolio for as little as about $5,000. I would look at retail managed funds (perhaps something like Vanguard index funds), or exchange traded funds (managed funds that are traded on the stock exchange), this would get you in the market reasonably cheaply with a small balance.

I would however really consider whether that is appropriate for you. If you are looking at a share investment plan, I would like to see an investment time horizon of 5-7 years as an absolute minimum, with regular investing all along the way.

If you are thinking of saving for a house deposit or something else in the short term, then just saving into an online saver is probably best without risking your capital. If you are thinking about a house deposit, consider the governments new first home saver scheme, although it hasn't been legislated yet so in the short term save to an online saver, then after the legislation has been passed, utilise the scheme to reduce your tax.

Reach out if you have any other questions.

Cheers

Glenn

Hi Ian,

Thanks for your question and using simplyaskit.

Well done on starting your job and your decision to start putting some money away for the future.

Now straight up front, whilst I'm not a financial planner, in my banking and finance experience, there are pros and cons for each of the investment strategies that your are looking at and may I suggest that you speak with a financial planner to assess your options and risk appetites.

Here at KeyInvest Lending Services we have a financial planner that I can introduce you to who can give you some expert formal advice on your options.

Please let me know if I can assist further.

Regards
Craig Kitchen
KeyInvest Lending Services
81 The Parade
Norwood
0499841717

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