Advice/Investing/Multiple Income Streams

[Cotchin 9]

Hey all,

Been around BF for a while now, but haven't posted in ages (this feels weird).

I've been lurking this board over the past month and mustered up a bit of courage to post a thread and get some general advice/thoughts.

Unfortunately (for context), I've had to leave a job recently due to stress, burnout, severe anxiety. Not ideal in the current climate, but things haven't been great mental health wise, and feel like I need to take a long term perspective on things.

I've been a relative late starter career wise - throughout my 20s I pissed around in odd jobs, which in hindsight wasn't ideal. However, had NFI what I wanted to do or where to go. I've always been working, so no issues there (ironically it's probably lead to a lot of issues...anyway we digress). I travelled a bit early on around 21-22, completed a Business degree. It wasn't until 3-4 years ago, I wanted to make a decent go of things, moved out with a bunch of mates and started a decent career trajectory, albeit on average wage, but obviously know I needed to take stock and have perspective on things. Lasted around 2 1/2 yrs in a B2B SaaS company, which was cool and recently moved to a role in the Digital Marketing space - which I liked the industry, just not the role and some extenuating circumstances around it but good to get some decent experience and have some sort of direction over the past 3-4 yrs. tl;dr...

As I mentioned off the top I'm currently jobless - so yeah if there's anyone that has leads on jobs, that'd be cool . Basically, I'm looking on general advice for investing, multiple streams of income etc, as I've just turned 30 and keen to learn more/discuss ideas. It's something I feel like I'm a bit late to the party on, but better late than never type scenario. Managed to save/bank around $60k in around 3 years, which I'm sitting on at the moment. I am single, live in a shitty unit in Melbourne's inner suburbs (does the job). I have no debt, no dependants & renting currently. Seems to be some interesting types on here, so interested to learn more. Apologies for the essay!

Cheers

 

[ash_1050]

In terms of passive income an investment in a dividend paying stock is your bet bet in your current circumstances. An ETF like VDHG is your best bet and will pay you quarterly dividends, and $60k of shares will give you approx $3600 a year in passive income. Alternately something like PL8 pays out dividends fortnightly, but that's more geared towards retirees or people who rely on passive income as their primary income.

Equity mates has a series called 'Get Started Investing' which is worth a listen if you want to get into the stock market. There's plenty of brokers out there, Commsec and NABtrade being the two most popular of the older style brokers, while Selfwealth, SuperHero and Stake are more geared towards GenY and GenZ by offerinng cheaper brokerage.

Leaving the full $60k in your bank account isn't a good idea, as it's losing money to inflation and being outperformed by shares in the longer term. Figure out how much of an emergency fund you want and invest the rest.

 

[Nothing]

In terms of passive income an investment in a dividend paying stock is your bet bet in your current circumstances. An ETF like VDHG is your best bet and will pay you quarterly dividends, and $60k of shares will give you approx $3600 a year in passive income. Alternately something like PL8 pays out dividends fortnightly, but that's more geared towards retirees or people who rely on passive income as their primary income.

Equity mates has a series called 'Get Started Investing' which is worth a listen if you want to get into the stock market. There's plenty of brokers out there, Commsec and NABtrade being the two most popular of the older style brokers, while Selfwealth, SuperHero and Stake are more geared towards GenY and GenZ by offerinng cheaper brokerage.

Leaving the full $60k in your bank account isn't a good idea, as it's losing money to inflation and being outperformed by shares in the longer term. Figure out how much of an emergency fund you want and invest the rest.

Make sure you own the shares when considering some of these. If the broker goes belly up, you shouldn't be on the hook.

 

[ash_1050]

Make sure you own the shares when considering some of these. If the broker goes belly up, you shouldn't be on the hook.

Superhero is the only one listed out of the options I provided that uses the custodian model rather than being Chess sponsored. All other ones there's no qualms around share ownership.

 

[Cotchin 9]

Cheers ash_1050, I've been looking into ETF's, thanks for the pointers.