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need suggestions on investment strategy

Discussion in 'General Investing Discussion' started by poleaxe, 7th Jun, 2010.

  1. poleaxe

    poleaxe New Member

    Joined:
    16th Oct, 2008
    Posts:
    4
    Location:
    Sydney
    Hi guys,

    This is my first post in this forum after being a member of this forum for few years :)

    I'd like to ask some advice/opinion/suggestions on investment strategy based on my goals and conditions.

    I am 28 this year, married with no kids yet. Me and my wife are both very good saver and we have always lived on a relatively modest lifestyle. And, no plan to change yet. :)

    Our assets at the moment:
    - We have a 2 bedroom unit in one of the eastern beaches suburbs 4 years ago that we currently live in for 500k and the current value (based on the sale value of my next door unit with the same floor plan) is low 700k.Current equity is 380k.
    - Few shares with the current value is around 15k
    - Few managed fund with the current balance of around 20k

    My personal goals is to achieve as much as cash possible in 3-5 years.And, in 5-10 years, hopefully I was able to make our money works for us and achieve a similar return with what we earn at this point of time (around 12k/month take home pay). Currently, we can save at about 7k per month (I added this after reading some posts that mentioned 'how much you can invest is based on how much you can save')

    Outside my work life, I am also setting up my own IT company with a business partner (as a normal IT startup company, the cost to run this would be quite low in the 1-3 years I imagine).

    In the past, I put my money on shares and sell it when the price is high. I did the same strategy with US dollar and gold as well. But, I've sold all of my USD and gold.

    Well, I don't have a sophisticated personal finance background. My investment strategy is currently based on guts and luck. lol. And, unfortunately, I never set up a budget in my whole life. I am a firm believer that if we live modestly and stash as much away each month, everything should be OK. I might be wrong. haha.

    So, I'd like to hear your advice especially from the senior members of this forum. I've never seen a financial adviser before. Thus, if you can recommend a financial adviser for me, that would be apppreciated as well.

    What do you guys think?

    Sorry if my English is bad. English is not my first language unfortunately.

    Thanks...
     
    Last edited by a moderator: 7th Jun, 2010
  2. poleaxe

    poleaxe New Member

    Joined:
    16th Oct, 2008
    Posts:
    4
    Location:
    Sydney
  3. Johny_come_lately

    Johny_come_lately Well-Known Member

    Joined:
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    Location:
    SE Queensland
    Hi Poleaxe

    A budget is a good idea. At least you then know where your money is going.

    A lot of software is available (some free).




    Johny.:)
     
  4. Johny_come_lately

    Johny_come_lately Well-Known Member

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    SE Queensland
    If you are to receive 12k/month as income from your investments, you will need capital of at least 2.88M or $2880,000. What strategy are you using to arrive at this sum?






    Johny.
     
  5. poleaxe

    poleaxe New Member

    Joined:
    16th Oct, 2008
    Posts:
    4
    Location:
    Sydney
    Hi Johny, thanks for your reply.

    Well, that is actually my question. I'd like to hear suggestions from this forum about possible strategies to achive the goal. As I said, in the past, my investment strategy is based on guts and probably luck. Even though I had a very good return, I am not 100% comfortable with what I am doing (thinking of the risk).

    Of course, I am flexible with the actual amount of return per month. I guess the number that I came up (12k / month) is a rough idea. I guess what I am trying to say is to achieve a reasonable lifestyle with my money works for me (as one income stream) while still working either as an employee or a business owner (different income stream). Well, let me know if it doesn't make sense as I don't think I am very good with money/investment management related stuff.
     
  6. Johny_come_lately

    Johny_come_lately Well-Known Member

    Joined:
    1st Jul, 2009
    Posts:
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    Location:
    SE Queensland
    If you've been using this site for a couple of years I am suprised you haven't picked anything up.

    As I'm not a financial planner, I can't give you advice on your own plan. It might be a good time to get one(fee per hour).

    I suggest you pick the most stimulating and enjoyable area of the market and specialise in that.





    Johny.
     
  7. Chris C

    Chris C Well-Known Member

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    2nd Apr, 2008
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    Location:
    Brisbane, QLD