Investment Advice

[spauldj308]

Going to see a stockbroker this afternoon, looking at investing about $2000 that I've been putting aside for a few months in some shares.

Already have a few shares in Westpac Bank, been told to steer clear of banks this time around and look at the Resources sector (BHP, Rio Tinto etc)

Looking at long term investment for the time being, with all dividends reinvested.

Any advice from people dabbling on the stock market? Just don't want to look like a complete numpty this afternoon.

[minux]

Only advice I can give you is what my financial planner told me. Stock market is like the pokies, sometimes you get a payout and other times you don't. Not the best long term investment imho. Personally, I have got to where I am today due to my financial advisor/planner. After the auction of one of our properties we now own 3 places outright with no debt. the only debt we have is our new house which is being built. Thanks to people who wont buy a house they will pay for us to live in comfort for the rest of or lives, so we now never have to worry about mortgages(although we are looking at investing in industrial property)

As my father once told me, property is one of the best investments any person can make, they can't make more land.

[AirStrike]

Best advice I ever got..............don't invest what you can't afford to loose.

[spauldj308]

Only advice I can give you is what my financial planner told me. Stock market is like the pokies, sometimes you get a payout and other times you don't. Not the best long term investment imho. Personally, I have got to where I am today due to my financial advisor/planner. After the auction of one of our properties we now own 3 places outright with no debt. the only debt we have is our new house which is being built. Thanks to people who wont buy a house they will pay for us to live in comfort for the rest of or lives, so we now never have to worry about mortgages(although we are looking at investing in industrial property)

As my father once told me, property is one of the best investments any person can make, they can't make more land.

Already moving towards that. The missus and I own a block of land, house plans are in at the council. Between us, we have relatives who are builders, electricians and plasterers. Should have any mortgage we have paid off in the next 5 years, then I’ll look at buying an investment property. Just using this to get a bit of a head start. Nothing is set in concrete at this stage, but I’ll see what the stockbroker says.

Best advice I ever got..............don't invest what you can't afford to loose.

A good portion of the money is a 21st birthday present from my grandmother, given to me to invest in the stock market. Not that I want to loose it, noone wants to lose money, but I don’t need it.

Thanks for the advice, keep it coming!

[kniever]

(although we are looking at investing in industrial property

yeah thats what i plan on doing later down the track too, you can buy a decent sized factory for the price of a house and you can charge good rent on them too and they are mostly very long time leases

[vnkid]

for simply the low amount to be invested, $2000, why not just find a reasonably high (3-4%??) bank term deposit, then continue to save, depending on how much you save look to invest in property. I'm no expert but it is known that the stock market rises and falls so it is a gamble and from what i have learnt, you cant make magical returns on the market without insider information which is illegal anyway. Best advice, see a financial planner or accountant.