my bank pays 6.00% plus any Australian bank account under $1000000 is insured by the government in case the banks default.
Is this for real ?? European banks are paying nothing, 1% or less, and a few sometimes up to 3% but with all sorts of strings attached. You guys down under are missing a trick here. Get the Europeans to deposit their dwindling billions into Australian banks. Only concern is I gather your exchange rate has followed the Swiss route and for us foreigners we get screwed now. I need to do some homework.
This is for real HSBC serious saver 6.49% uBank (subsidiary of national australia bank ) 6.51% our exchange rate has not followed the swiss route. We are net importer, so it will take a much higher rate before govt steps in to fix rate.
https://www.ubank.com.au/ 6.51% if you deposit 200 per month up to 200k, guaranteed up to 250k by the aus govt. 6.01% without the bonus.
If you trust me enough, I can offer 7%(after tax) return on cash given to me paid every 6 month-ish. Only thing, is when you want your principal it may take me 1-6 months to get it. Minimum amount 10k pm me if interested
I treat it as 20% I have available to grow my net worth, not the net worth. That may initially sound strange but because I don't count equity in a PPOR as "available" to grow net worth, I guess to simplify it's your net worth minus PPOR equity. So the way I look at it is, if someone has 200k to invest in total and choses to use 80k for an investment property and 80k on shares then the last 40k will go towards PM's. When you look at all the available tools you can use to invest that currency, then having 20% caught up in PM is a lot IMO. When you start talking about investing in business a lot of cash is required but the potential ROI can be quite high. For me personally I like shares as a main form of investment followed by income generating business. Shares because they are very liquid and can be sold quickly if SHTF and traded for gold and silver, and business because of the cash flow opportunities it provides.
http://www.money-rates.com/savings.htm You consider 1% or less to be a legit investment strategy? I don't know whether to SMH or LMAO
Yeah I get 6.51%... That is why parking money in banks is actually a potentially viable option down here in Australia. Maybe not elsewhere.
Just another reason I love the Land of Oz I'd still buy PMs if we got those kind of rates, just less.
While it is nothing compared to the states, as I think member 1for1 pointed out a while back, the Australian central bank (RBA) expanded the money supply by over 8% for the last two years running. So in effect a 6% interest rate from a bank is in fact a relative 2% loss. If I were in the states hard assets are the only thing I would be parking my money in. Heck even real-estate. One thing the people in the US need to remember about Australia before thinking everything is rosy, Australians pretty much can't get a fixed rate mortgae for more than 5 years. On occasion up to 7. I am an extremely debt adverse person but if I could buy real estate at US prices with a 30 year fixed term at 4% I would back up the truck.
REALLY??? :lol: wow - that certainly is an interesting perspective... and you're entitled to your opinion. i'm quite happy with my knowledge and understanding of why it is that PMs are the asset class to be in at this point in time. you say you've listened to Schiff and Maloney and others (Mark Faber perhaps?) - but it doesn't seem as if much of what they have to say has sunken in ... else you wouldn't have made such ignorant comments. I have a young family and i'm very happy with the way things have been going since i've become more financially aware.
Whoaaa, 5-7 year mortgages? I'm stunned...to say the least. My dad had made a killing off rental properties, not so much the rent LOL, but the appreciation, though the housing crash here in 08 took a heavy toll. I refinanced to a 15 year loan and saved about 140k in interest from my old 30 year.
Lol not 5-7 year mortgages thats the maximum amount of time we can fix the interest rate for. Mortgages are still 25-30 years
The high interest in our bank accounts is the reason i'm P*ssed off with silver dropping again. I'd have been better off having held all my cash in the bank and smashing out the silver in monster boxes when it drops to the $20's. Too late now but yeh oh well
