G'day new bloke from Adelaide

Discussion in 'Welcome New Members' started by 3cav84a, Dec 19, 2010.

  1. 3cav84a

    3cav84a New Member

    Joined:
    Dec 19, 2010
    Messages:
    28
    Likes Received:
    0
    Trophy Points:
    1
    Location:
    Australia
    G'day, I have been reading the forum for a few days and this is what I have been looking for and many questions have been answered just by going through some of the posts. I am 60 years old in a few days time and I received a letter from the Dept of veterans' affairs telling me that my super will be counted as an asset. My super only returned about 4% last year so I have had enough of the drips in Wall St and I reckon I could do better.
    I have been a gold detectorist for about 10 years and I am going to invest in some gold, silver and gold coins (Australian Sovereigns), how I do this and what ratio to buy is still up in the air but in Jan next year I will have about $30,000 to invest. I will keep reading the posts and see if I can get any ideas of which way to go. Regards Neil
     
  2. ozcopper

    ozcopper Well-Known Member Silver Stacker

    Joined:
    Jul 17, 2009
    Messages:
    17,379
    Likes Received:
    3,640
    Trophy Points:
    113
    Location:
    Australia
    Welcome Neil, There are plenty of dealers here who can point you in the right direction. My advice would be to buy 9999 gold coins instead of Sovereigns because 9999 gold attracts no GST. Same for silver. Oz.
     
  3. lakesentrance

    lakesentrance Member

    Joined:
    Dec 15, 2010
    Messages:
    273
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Australia
    Hi Neil, nice to have 30K to get into PM. Now that would be an exciting shopping trip :)
    Welcome to the forum, i'm newbie too, first purchase yesterday.
     
  4. Randomz

    Randomz New Member

    Joined:
    May 18, 2010
    Messages:
    758
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Adelaide
    Welcome Neil, your super being counted as an asset doesn't mean anything unless your total assets (excluding your home) exceed a certain point. See here - http://www.esuperfund.com.au/pensions/agedpensions/assetstest.aspx

    There is also an income test that may make your assets irrelevant if your income is too high.

    As a Vet, have you had advice about getting on to the TPI train?
     
  5. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,853
    Likes Received:
    3,354
    Trophy Points:
    113
    Location:
    Sydney
    Welcome Neil
     

Share This Page