Short term savings

Discussion in 'Share Investing Strategies, Theories & Education' started by samaka, 4th Nov, 2007.

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  1. samaka

    samaka Well-Known Member

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    Hi all,

    If you had around $50,000 - which you will be using to buy (your first) PPOR within 6 to 18 months - what would you do with it in the meantime?

    Considering you need access to it when you decide / find a property - I wouldn't think managed funds are appropriate...

    Maybe a high interest, Rabobank, ING or Bankwest account?
     
    samaka, 4th Nov, 2007
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    Definitely - anything less than a few years I wouldn't be putting my money in shares or managed funds ... use one of the high interest accounts you mentioned ... you'll also get the benefit of rising interest rates along the way.
     
    Simon Hampel, 4th Nov, 2007
    #2
  3. buzzlightyear

    buzzlightyear Member

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    Do you have any non-deductible debt? ie credit cards, personal loans.... If so, some of these funds this might serve to clear this and position yourself from a serviceability perspective. The 'savings' from not having these accounts can then be ploughed back into an ING type fund as you mentioned until you are ready to purchase.

    Buzz
     
    buzzlightyear, 6th Nov, 2007
    #3
  4. samaka

    samaka Well-Known Member

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    No non-deductible debt at all - fortunately :)
     
    samaka, 6th Nov, 2007
    #4