What to do with a lump sum?!

ElecKtrA

Hi guys,

I'm really looking for some sound advice here.

I've got a nice sum of money that is currently in a deposit account and is set to mature in less than two weeks from now. After the budget news that DIRT tax is going to be over 40% ...I've come to the decision that it is perhaps now time to seriously start putting my money elsewhere...if I'm going to get a greater return on it.

I have zilch knowledge about stocks and shares (and frankly they don't appeal to me). I've considered buying another house....as an investment property..renting it out,but I don't think I want the burden of being a landlord and dealing with unruly tenants. Also, the fact that the property tax is now in full effect, water meters are imminent and the likelihood that house prices may fall further...are making me think twice!

I don't want to end up putting into another deposit account again! What are my options???

I would appreciate some advice, and thanks in advance.

gordongekko

ElecKtrA wrote: »

Hi guys,

I'm really looking for some sound advice here.

I've got a nice sum of money that is currently in a deposit account and is set to mature in less than two weeks from now. After the budget news that DIRT tax is going to be over 40% ...I've come to the decision that it is perhaps now time to seriously start putting my money elsewhere...if I'm going to get a greater return on it.

I have zilch knowledge about stocks and shares (and frankly they don't appeal to me). I've considered buying another house....as an investment property..renting it out,but I don't think I want the burden of being a landlord and dealing with unruly tenants. Also, the fact that the property tax is now in full effect, water meters are imminent and the likelihood that house prices may fall further...are making me think twice!

I don't want to end up putting into another deposit account again! What are my options???

I would appreciate some advice, and thanks in advance.

German bonds

ElecKtrA

gordongekko wrote: »

German bonds

Thanks for your reply gordongekko, but would you care to elaborate on 'german bonds'...as i am clueless

gordongekko

ElecKtrA wrote: »

Thanks for your reply gordongekko, but would you care to elaborate on 'german bonds'...as i am clueless

You seem to be looking for a fairly secure low risk alternative to deposits. Government bonds seem to be the only major alternative and German bonds are probably the safest.

ei9go

If you want no risk or DIRT tax, a sum over 20,000 will probably give you about 2% return and with the chance of hittin g a large prize.

gordongekko

ei9go wrote: »

If you want no risk or DIRT tax, a sum over 20,000 will probably give you about 2% return and with the chance of hittin g a large prize.

are these prize bonds?

Pennystockwhiz

Screw prize bonds.. If I was in ur situation I would be looking into gold/silver + bitcoin, also buying a house + renting it out wouldn't be a bad idea, house prices won't fall much lower