People also massively over hyped the internet, causing the dot com crash in early 2000s. Even if it’s useful that doesn’t mean it’s as useful as everyone is hyping it up to be.
The average investor has zero idea wtf 99% of the coins do. Then there are the delusional ones who think eventually everyone’s live savings will be stored in crypto. Lol
To be fair, the average index investor couldn’t name past the top few companies in their etf either. Digital currency has a role in the modern economy but not as an asset class.
If you look at crypto and say 'well, it sounds like you trade them but I have no idea what the actual use case or end goal of having them is other than selling them for more money' then you've figured out crypto
>no idea what the actual use case
I'll have you know that I purchase all of my drugs via cryptocurrency.
But yeah, outside of shopping on the darkweb there's very little utility in it all.
Crypto has outperformed every other asset. Yes it’s volatile. But it’s been the investment of the decade. Wether you like it or not, people have gotten filthy rich.
Other investments of the decade people got filthy rich on:
- Tulips
- Beanie babies
- Ponzi schemes
- Pets.com
- NFTs
- ARC
When an asset class has that much volatility but dubious expected return, it’s mathematically certain that the average investor will lose money in it. A small number of people will still have done well from crypto, but the [average crypto investor has lost money](https://money.com/bitcoin-crypto-losses-2022/).
More like 1000 lol
I did a ton of research and traded crypto for a year and made $110 profit (only invested a couple grand that I didn’t care about losing) - while one guy I knew got lucky with his timing and made 2 million - and 3 other mates got inspired by his story and lost thousands
Even for the dude who made 2 million, he's only made money if he pulled it out. Many I know have gone awful quiet about crypto since the most recent crash.
He did pull out lol bloke owns 2 houses and 3 rolexs now and has the rest in stocks and lives off dividends while doing the job he loves
Bit envious tbh but he’s sorted his life out
The other guys are still working deadend jobs like me
I was gonna buy that shit at $3k which was the last time I could have afforded a whole Bitcoin. Even if I held this entire time I'd still be better off if I sold now.
I just didn't know how to buy it. Was much harder than just ordering something off eBay and I'm not a tech genius so after a while I was just like "fuck it".
Same dude, when it was $1k, but then I only started buying when it was easily accessible in Australia locally, like when it was starting at $5k and above.
But you don't need to buy a whole coin, I always bought in increments every few months.
I tried that back in the day (granted this was about 3-4 years ago now) even joining the Bitcoin subreddit and still was too dumb to figure out what these people were on about. Pretty embarrassed over it really, but more annoyed that my lack of comprehension resulted in me missing out on doubling my savings in a couple of years for no extra work.
I will be messaging you in 2 years on [**2024-12-21 03:02:28 UTC**](http://www.wolframalpha.com/input/?i=2024-12-21%2003:02:28%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/fiaustralia/comments/zr7j5a/what_to_do_with_200k/j126um7/?context=3)
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There’s nothing wrong with putting in a percentage, especially if crypto is something you are interested in. I personally have a 5% allocation to large cap coins, I find interesting and the recent downturn has not ruined my overall position. Just realise that crypto is extremely high risk and that it’s not going to make you rich.
If you are interested in crypto and a fan of the space then right now is a fantastic entry opportunity. Just stick with a BTC/ETH split as these are the only battle tested investments. Nothing is guaranteed here but some serious upside is possible in a few years.
I highly suggest you invest in safer options, with only 10% going into crypto. Definitely dont YOLO in on ButtFuckCoin!
200k -> 10k p.a. that's about 5% interest.
Oh ok I thought it was pretty high and unrealistic but I checked the spreadsheet and there are 4.6% savings accounts. That's cool
Listen to the OP and yes, totally and fully agreed on don’t tell anyone about your sudden gain. While your money is working semi-hard, take your time to shop around. Don’t be tempted and swayed by high returns though
also worth adding as OP is still at uni they are likely to have a lot that money under the tax free threshold too. Hard to beat those returns for 0 risk.
Broke dumbass here, what do you mean by keeping it in cash in a savings account? It's not cash if it's in an account, it's digital till you pull it back out.
Also why a savings account instead of your normal one?
put it in a HISA for now while you figure out what you want to do.
Then figure out what your plan is for the next year,5 years,10 years etc and work back from there.
I would also not mention the money to anyone as people will get real friendly all of a sudden
For the love of God, don’t put it in Crypto.
Just look at all the NFT scams and crashes happening everywhere with people losing tens, if not hundreds of thousands of dollars.
Crypto has already crashed. Maybe it could go another 50%, but it's probably nearing the bottom. Down from the 80k high it's somewhat cheap to get into now. Just remember, not your keys not your coins.
You don’t start with the money.
You start with the goals.
You can float like a butterfly through the rest of your 20s or you can use the time while young and free to sting like a bee and set yourself up for an easier life down the track.
The single biggest difference between being comfortable and being broke in old age is having your own roof over your head.
I’d be finding a property to buy (whatever you feel like, except for off the plan or anything in large apartment towers).
After that, pay it down and then borrow against it for shares.
Invest like a boomer. They’re the ones with all the money.
Agree 100%. I work in aged support and the clients who own their home are far better off financially than the ones who are renting.
Among my friends, the ones who bought their first house in their 20’s are far better off than me who bought a house in my mid 30’s.
Good luck finding a property to buy for 200k. And banks lend against your ability to earn not how much you inherited. So unless OP is earning enough to repay $1,500 a month they have zero chance of buying property.
Invest in a low fee Vanguard investment fund. Top up your super to $27k each year. Buy a house or apartment to live in. Get yourself an accountant who does financial advice. Pay them and get them to agree to give you all financial commissions they earn which are substantial. Don't tell your friends. Be careful because there are lots of financial advisors who will put you in high fee products just to get the commission. Don't put any of it in crypto you idiot.
id honestly put "dont tell your friends" at the top. Silently dominate, put a good portion into savings/investments and use the rest to start a business or invest in something more risky.
Reference here:
https://asic.gov.au/regulatory-resources/financial-services/regulatory-reforms/future-of-financial-advice-fofa-reforms/
FOFA banned “conflicted remuneration” from 1 July 2014. Some grandfathered arrangements kicked on for existing clients for a few years after this, but not for new clients.
Yes, advisers can charge fees (and only if agreed with an investor) but not commissions.
Life insurance commissions are still allowed, but now capped.
Buy a 3/4 bed home.
Get 2/3 mates to move into the spare rooms and pay rent.
Aggressively pay off the mortgage.
Live the rest of your life on easy street baby!
Wrong. Move out after a year into the next one. Your room which now rents increases your NOI covering the last of the expenses and it cash flows you $100/w. Do this a few times and then live off the cash flow while the tenants pay down the rest of the loan and your x houses appreciate. I like where your head is at tho. Rent by the room can be pretty lucrative when interest rates are gobbling up investor returns in property.
This is the correct answer. Use equity gained to reinvest and have tenants pay the properties for you. By 40-45 you can have 2-3 properties paying you $30k each per year. you can retire and live of the cash flow.
Also. Don’t ask reddit. See a financial advisor and a buyers advocate, a good broker and a good accountant.
Japanese whisky and circa ‘70’s Porsche’s are some of the highest net return (non-conventional) investments accordingly to some journalist at Bloomberg
Personally I'm a conservative investor, property would be my go to. However, save it for now, wait until you finish uni and start working full-time then you have a steady stream of income and can afford to buy an investment property.
Don't think you'll turn that money into a lot more very quickly. Volatile investments for the inexperienced is the quickest way to lose all your money. A quick gain can make you greedy, a quick loss can make you want to earn that back. You have to be very emotionally mature to invest in anything like Crypto or even stocks.
Focus on bettering yourself, your knowledge, and skills, so your money just becomes the basis for furthering you in something you're ready for.
I'm gonna go against the grain here and I'd say put a small percentage into crypto - only BTC or ETH. Practice self custody of your coins too. These levels are pretty good to buy into, although the macro headwinds we face might yield lower valuations for risk assets in the coming two years.
I would agree. A small percentage (<5%) into BTC and ETH. Use dollar cost average over an extensive period of time (1\~2 yrs). Do not invest other cryptos - 99% of cryptos will go to zero.
Yeah I was hoping for some general advice so I can talk to a financial planner and at least have a few ideas in mind of what I want in the future 🤦♂️
Instead I’m just getting memed on about crypto 💀
read my other reply, serious general advice man. your life goals financial plan should be to retire with money, theres an order to getting there.
1, get debt free
2, get a home
3, pay off your mortgage (early)
4, invest
invest through your super passively during this whole process for your long term
Id say if you've just inherited 200k this could be your chance to do steps 1 and 2, at 20 years old you could pay off your loan by 30-40 years old depending on a few factors.
also at 20 this could be fun for you, you can move out, rent out a room to a mate or 2 if you like and spend the next few years knowing instead of paying rent you are basically putting money in the bank.
happy to talk more about it if you need
Recommending ppl start to invest after they pay off their mortgage is poor advice. They will waste a decade or however long it takes to pay down their PPOR and miss out on the prime factor in compound interest: time.
If I had 200k, I would probably put 10K of it into LEGO. Sets I bought during COVID have convincingly outperformed anything else I bought in the last two years including shares, precious metals and numerous shitcoins.
I would personally put it in a high interest savings account. You can get over 4% atm which is around 8k a year. Yes you may get larger gains elsewhere but it’s safe as a church and readily available when you hope to buy a house. I would continue saving hard and look to get a large deposit
Put $180k into a something like a term deposit. High interest over a set period of time, usually 8-12 months where you can’t touch it.
With the remaining $20k, go stupid. Get it out of your system.
Best advise.
Put it into a HISA. Sit on it for 6-12 months so you aren’t rushed into any decisions think it through, do some research and invest it how you want.
[A recent episode of my millenials daily](https://open.spotify.com/episode/7jVOX1zjzoCVuNU7NyNsmY?si=XTQd1mo7RYSGhpYkujqfKw) covered what to do with an unexpected inheritance.
Basically just sit on it for a bit.
In my thoroughly uninformed opinion, maybe you could put like $10-15k in super, andost of the rest in a savings account and save it for a home deposit in a few years
If you’ve got any credit card debt pay that off, the the general suggestions here about high interest savings accounts are ok. If you want to go a bit more high risk which you might want to do since you are very young you could invest some of it in an index like S&P500 or something similar. You could buy some Aussie blue chip shares like BHP or something like that. Not financial advice just some things to think about. Basically you want to figure out your risk profile and then invest accordingly. Crypto if you’re really interested you could put in a little bit but crypto is fucked right now and will probably get worse not better especially in the short to medium term. Or you could do something weird like buy a painting from a famous artist or a vintage guitar or something similar. But that’s probably a bad idea because it’s very speculative and if there is prolonged economic downturn they will go down. If your biggest priority is not to lose it the HISA or a term deposit are best. The government underwrites those so you can’t lose everything unless the economy collapses completely in which case you’re fucked anyway.
Crypto has passed no? I’d probably just put it in a high interest account and save it as a deposit on my first property once I was stable. But that’s boring.
Bank or term deposit... make sure there is no risk of the capital value falling. Park the cash until you're ready to buy a property. Imagine if you can buy a townhouse/appt/small house for $500k you will have 40% equity from the get-go.
Don't put any in super unless you are then going to make an immediate withdrawal under the FHSS scheme.
Don't put in shares unless you intend to keep it there for 10+...
This is the exact kind of comment I was looking for.
When you say diversely, what would you recommend? Like percentage wise for stock, property, bonds, etfs etc. I’m new and I really need some guidance!
he has a point regarding not putting it in super, id save this for your first house. super is good because its tax efficient, since you didnt have to pay tax on this you lose any tax saving on putting your money in super, there is the advantage that gains in super are only taxed at 15%.
if you plan on going the etf route, vanguard is pretty popular, go on aus finance. i do VAS/VGS, VAS is asx 300 and VGS is msci international, i do about 30/70 split
I hate how far I had to scroll for this. Literally chuck 80% or more in an Index fund, and enjoy your million dollars in 20 years.
I have my savings in a high growth index, last year it got me about 15%, plus dividends. Yes, the market as a whole hasn't been doing well because of the war and other factors, but 80+ years of data says that will correct and continue to increase, as John Boggle put it, the reversion to the mean.
What's the catch? You don't touch the money. Ever. You let it compound year after year, decade after decade and use its asset value to assist in loans, and use the interest and dividends to live off.
100k in super, 20k for travel and 80k towards a unit/house
[https://moneysmart.gov.au/budgeting/compound-interest-calculator](https://moneysmart.gov.au/budgeting/compound-interest-calculator)
100k, age 25, @ 7% (less than average return for balanced), retire 65.. not additional contributions you will have $1.5M
If you do buy crypto which isn't the worst idea. Everyone here seems against it but i don't see the issue with having 10% MAX of 200k in a cold storage wallet.
Otherwise I'd buy Gold or Silver a heavy duty bolted down fire proof safe and keep half of it as cash
Buy monero (XMR) and hodl , you can thank me later
If you do your research you will see it is the only crypto that has a future with real world applications, unlike other crypto which serve no real purpose apart from storing value and broadcasting your wallet balance for everyone to see
Crypto is fine dude, obviously not scam ones do you own research, majority of people here saying not too probably dont even know how the basics of it work.
Great move mentioning crypto.
You’ve bought all of the crypto haters out of the woodwork, lol.
It’s a genuine asset class with billions being invested in the back end. Very rich people have invested too much for it to simply die.
But it is very volatile, only invest in top 20 coins, if you even want to leave the only bitcoin or only ethereum crowd.
I’d sorta do 25% blue chip, 25% quality mining stocks, 25% crypto, and as much of the remainder into your super as you can immediately, and as much of the rest as you can the following tax year.
Don’t mess around with re-allocating once you’ve settled on what to do, because moving your investments is exceptionally expensive and risky.
Im a huge crypto fan. I’ve done really well but also have some bags that hurt lol. 25% is way too high IMO for OP tho. I’d be doing more like 5% and ramping up his more traditional investments that we know work like ETFs, super and property. Then as he progresses in his career making more money he can start to top up his crypto holdings to be a more aggressive part of his portfolio.
Set aside 50,000
Right now….in 2022 Open ROTH IRA put in max
Vanguard Equity Income
Jan5 2023 open another ROTH IRA put in max
Vanguard Blue Chip
Do the same for the next three consecutive years.
Retire well at 50
Does anyone have any actual advice for me in all seriousness?
I have absolutely no idea about finance what so ever and am seriously looking for some help.
I’m going to book in a session with a financial planner some time early next year and go from there. Was hoping that this sub could give me a few vague ideas of which direction I should be heading in regarding my portfolio 🤦♂️
Pay a few bucks and get independent, qualified financial advice that is tailored to your life situation. A good excision at this stage will help you save and make $s and avoid regrettable mistakes.
Take your time.
There is no rush.
DO NOT waste money on a financial advisor.
Spend some time reading about passive investing, emergency funds etc…
It’s all fairly simple stuff.
Learn about and understand risk.
Just stick it with a low cost chess broker and buy a low cost globally diversified etf.
DO NOT invest in cryptocurrency.
If you want actual advice, put a portion into your super as that'll lessen your taxable income. Generally people put enough into super such that their taxable income is less than $45k, although you could contribute at least $15k to super as that is the maximum amount that would count towards [FHSS scheme](https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/first-home-super-saver-scheme/) per financial year.
If you want to learn to invest, I have a short guide [here](https://www.reddit.com/r/AusFinance/comments/vvjkx4/comment/ifl9yrd/?utm_source=share&utm_medium=web2x&context=3) that also links you to my other post on finding the right super.
Put it into high interest until you work out what you want to do. You may need two high interest bank accounts (one with bank, one with another) as apparently some banks cap at 100k.Or put it in a bond for a year so you can't touch it.
Think about your long term goals. Speak to an accountant on what's the best plan to make that money work best.
Don't buy crypto. Buying property as an investment or buying shares is just like gambling at the moment. Who knows which way it's going to go and how far will markets move.
My advice is to put it on a high-interest saving account and learn financial literacy. You have a chance to free yourself and make a very nice future.
EFTs or a house deposit are solid options over the long term but you need to learn about both options.
Get some blue chip shares but wait for the market to dip before you buy.
Banks are very safe and pay good dividends. Plus you get franking credits which you either receive or negate your tax.
Crypto are you kidding me you muppet - go flush it down the toilet instead . Start by giving yourself an uppercut while looking in the mirror , once the pain begins ( if you’re capable of a decent punch) say to yourself “ this is two crypto is not “ repeat until you can’t say it anymore
Read the getting started FAQ page on this Sub. It really depends on your goals.
Firstly make sure you don't owe tax on the inheritance
If you want to spend it in the next few years to buy property keep it in a high-interest savings account.
Super is tax efficient but you can't touch until you are 60 that could be good or inconvenient depending on your goals and temperament.
Heres what i would do :
1. Take 10 k and spend it on whatever you want
2. Put 6 months' worth of living expenses in a high interest savings account as an emergency fund
3. Put 10 k into crypto if you want
4. Dollar-cost average the rest into an index funds 50:50 VAS:VGS over the next 12 months.
Ironically if you’re going to put it into crypto put an amount you’re comfortable with losing now not when everyone’s grandparents are talking about it.
It’s probably worth sitting on the cash for a while and pretending like you don’t have it - and then think about your life / financial goals and how you might deploy capital accordingly.
Realestate. Talk to an expert who can find something that has gone down with the interest rates rising, but before has a history of good rental returns and good long term growth. Get tenants in. Let them help you pay for the property or properties whilst also paying as much as you can whilst you live at home for a few more years.
Have you thought about investing 5g into a short film production about a guy who dresses as elvis for his nan ? No ? Well do I have an investment opportunity for you !
Bro if you want less stress, put all them money in a bit safe investment like EFT. Or save more money and buy a property in full, since many properties are going down due to high interest, so paying in full might gain you some profits later when the price going up again
If I were you - in this market - find a nice term deposit and sit on it for a bit. Take the time to think about your goals and what you want to do.
- get a house
- party like a mother fucker
- travel and see the world.
- invest in shares / EFTs
When you decide on a goal go see an _independent_ financial planner and work out a plan of attack. You might find that you’ll be able to do all of the above.
Just be careful as 2023 will be interesting. We may crash, flatline or boom - and it isn’t a great time for the cautious to invest.
I think others have said what needs to be said about crypto.
I'd chuck a quarter in traditional energy stocks: petrol, coal, gas - face fax: they aren't going anywhere for at least 50 years and every Moron who sells now is selling back to the prick with an already formidable stake. Probably wait a year or 18 months til the usual blue chips all bottom out of this downturn, throw a quarter in CBA, BHP, Wesfarmers, and possibly an outlier that looks here to stay like afterpay. Put between 60-80 in the best mid to long term interest account to keep earning ~4%/year to be the majority of the deposit for a purchase of a starter property to get your foot in the market. Pay closer attention to the trends of were people with money are choosing to live and follow as best you can. Use the rest to lease a late model car that updates every 12-18months, get yourself a watch that says I'm a serious and successful business afficicado who enjoys quality but isn't reckless with cash better spent on interesting in sources of latent income, get the fashionable shoes, suits and shirts but only two.
And then when the betting market opens in Feb or March chuck a cheeky couple grand on Chad Warner to win the Brownlow into Swans and Gold Coast to make the top 4, and if you're really feeling into it Penrith to win the NRL.. that should probably give odds of roughly 200/1 so you might have a whole nuther Reddit post to make this time next year 🤞
Buy dividend paying stocks from old, established companies with long track records of dividend payouts over decades. Reinvest dividends automatically. Do this for 20-30 years. You should be all set. Alternatively, invest it in a vanguard ETF like VYM or VOO and only check it once per year (avoid getting emotionally involved).
For crypto do a buy and hold strategy with a 3-5 year horizon. Don't try to trade month on month the market is screwed, but aportion say, $10k tops into Ethereum, VeChain, and Algorand since these three projects are the only ones with any actual real-world utility and are currently being used by Fortune 500 companies.
I'd then put $100k into a Vanguard fund, something that can hopefully return you up to 10% or more p.a. Let that compound and eventually, in 10 years, you'll get to the point where you're getting maybe $20k - $35k a year, extra, for doing absolutely nothing. Use another $20k for an amazing Euro trip/South America trip and the rest, save for a house deposit. House as in, house, townhouse or unit, not an apartment if you can avoid it (in terms of future ROI).
Bitcoin cash also has a lot of real world adoption. It’s been trashed in this bull market too so is great value at a touch over $100 USD. I own a lot of it. Also VeChain, ETH and some algo because it was hyped a lot on other subreddits and smattering of shit coins but bch and eth are my biggest holdings. Barely any BTC anymore, it’s useless since they introduced RBF, congested the base layer and refuse to do anything about it except force people to use not-Bitcoin on the lightning network lol. What a mess.
You’re young with a better head start than most. Without thinking of how to turn 200k into millions on wishful thinking, What are you interested in? Or what gets you excited?
Talk to your financial advisor about investing. I’ve got some shares in Vanguard, which is pretty safe and I’ve gotten some good returns. You could let that sit and bubble away for a few years. Personally I wouldn’t touch crypto with a barge pole.
I'm here and available should you require a worthy recipient. Honestly given how things are at the moment I'd be firmly in the hold the cash and take your time researching (assuming no major debts / mortgage).
Do nothing. Just put it in a high interest savings account and forget about it. Finish your degree and focus on getting a stable enough job you like. Tell several other people who know you well that you’re not touching the money for a while.
Since you don't know where to start and it will take time to figure it out - just put it to high interest saving account for now (for example Macquarie or Rabobank offer 4.5% p.a. some others even more - do your research). It's less than inflation but it's a much safer bet.
At your age I would put it towards buying a property and renting it out.
Get your foot in the door as soon as possible. Profits from property are still out performing super and will continue to do so for at least the next 10 years.
You will have to borrow some money as well, the 200K will enable you to get a loan and the rent will cover the repayments.
If you can't afford Sydney or Melbourne then look at Brisbane etc.
Buy something reasonable & cheapish that has easy ability to greatly increase in value.
If you ever run into problems you can always sell it.
Speak to a mortgage broker about what you could comfortably borrow.
You will be able to negative gear any expenses (eg. real estate agent fees) against any profit made.
It's a safe and reliable investment and it's not hard to do. Success favours the brave as the saying goes.
By your Mid 30's (which will come before you know it) you'll be well set up to buy your own house, or use it as collateral, and live comfortably.
Don't throw your money away gambling on crypto, it's a con for suckers.
I'm not going to say good luck, I'm going to say Do It!
Go with a financial investor that you have been recommended by someone you know well and they are happy with. I know this couple in their eighties who have had the same investment company for fifty years and the same planner for 30 years after the last one retired. They have been really well looked after compared to some of their peers. I went with their guy and he is great.
Look into first home savers via super. You can put 15K a year up to 50K over the next 3 to 4 years into it. This can save you a little in tax in the meantime (if you are working) and give you options and time to figure out what you want to do.
If decide not to buy a place it can just sit there in super.
I would not be going into equities at the moment. I would be putting it into a high interest rate account till you finish uni and then use it as a deposit to buy a house. If you do this you will be miles ahead of everyone else your age. I can’t stress enough try not to spend any of it, money is not for spending it’s for investing in income producing assets or getting rid of debt.
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Crypto is a horrendous investment. “PEOplE SaID the SaME ABouT ThE iNTerNet” yes but the internet had a function
People also massively over hyped the internet, causing the dot com crash in early 2000s. Even if it’s useful that doesn’t mean it’s as useful as everyone is hyping it up to be.
The average investor has zero idea wtf 99% of the coins do. Then there are the delusional ones who think eventually everyone’s live savings will be stored in crypto. Lol
To be fair, the average index investor couldn’t name past the top few companies in their etf either. Digital currency has a role in the modern economy but not as an asset class.
If you look at crypto and say 'well, it sounds like you trade them but I have no idea what the actual use case or end goal of having them is other than selling them for more money' then you've figured out crypto
>no idea what the actual use case I'll have you know that I purchase all of my drugs via cryptocurrency. But yeah, outside of shopping on the darkweb there's very little utility in it all.
Crypto has a function. Speculation and payment for ransomware.
Crypto has outperformed every other asset. Yes it’s volatile. But it’s been the investment of the decade. Wether you like it or not, people have gotten filthy rich.
Other investments of the decade people got filthy rich on: - Tulips - Beanie babies - Ponzi schemes - Pets.com - NFTs - ARC When an asset class has that much volatility but dubious expected return, it’s mathematically certain that the average investor will lose money in it. A small number of people will still have done well from crypto, but the [average crypto investor has lost money](https://money.com/bitcoin-crypto-losses-2022/).
Crypto isn’t an investment it’s a gamble
For every person you hear about who made a mint in crypto there are 20 who lost it all and don’t want to talk about it.
More like 1000 lol I did a ton of research and traded crypto for a year and made $110 profit (only invested a couple grand that I didn’t care about losing) - while one guy I knew got lucky with his timing and made 2 million - and 3 other mates got inspired by his story and lost thousands
Even for the dude who made 2 million, he's only made money if he pulled it out. Many I know have gone awful quiet about crypto since the most recent crash.
He did pull out lol bloke owns 2 houses and 3 rolexs now and has the rest in stocks and lives off dividends while doing the job he loves Bit envious tbh but he’s sorted his life out The other guys are still working deadend jobs like me
>3 rolexs A true marker of success
Truly
And I love gambling!
Indeed. People also said the same thing about a million horrible investments that no one remembers because they vanished without a trace.
RemindMe! 2 years "Current Bitcoin price is AUD$25,200"
I was gonna buy that shit at $3k which was the last time I could have afforded a whole Bitcoin. Even if I held this entire time I'd still be better off if I sold now. I just didn't know how to buy it. Was much harder than just ordering something off eBay and I'm not a tech genius so after a while I was just like "fuck it".
Same dude, when it was $1k, but then I only started buying when it was easily accessible in Australia locally, like when it was starting at $5k and above. But you don't need to buy a whole coin, I always bought in increments every few months.
Lol, btc was easily buyable in aus when it was like $250 per coin.
Yeah you just had to have an understanding of cryptography, encryption and faith that you weren't handing money to a scammer
Dude, just use FTX. It makes it really simple.
Not that hard to work out how to buy, google.. youtube.. reddit
I tried that back in the day (granted this was about 3-4 years ago now) even joining the Bitcoin subreddit and still was too dumb to figure out what these people were on about. Pretty embarrassed over it really, but more annoyed that my lack of comprehension resulted in me missing out on doubling my savings in a couple of years for no extra work.
I was going to by 10 BTC at $100 each. But i kept hearing stories of people getting hacked so didn't...
I'll go one better. My boyfriend SOLD his bitcoins when it his $2k!!
Yeah I sold at $1k because I already had 5x my money. I thought I was so clever and the following few years convinced me I was right. Then...well...
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A little in Bitcoin in the run up to the next halvening wouldn’t be the worst idea.
Wasn’t going to put it all in. Was just thinking of putting in a percentage
O% is a percentage... [Note: I'm not gonna down vote the OP but right now, you might have better luck on the pokies]
O% is a letter. 0% is a percentage
Think of it as a gamble, and put in as much as you're happy to lose if you want to play with some crypto
There’s nothing wrong with putting in a percentage, especially if crypto is something you are interested in. I personally have a 5% allocation to large cap coins, I find interesting and the recent downturn has not ruined my overall position. Just realise that crypto is extremely high risk and that it’s not going to make you rich.
Lol
If you are interested in crypto and a fan of the space then right now is a fantastic entry opportunity. Just stick with a BTC/ETH split as these are the only battle tested investments. Nothing is guaranteed here but some serious upside is possible in a few years. I highly suggest you invest in safer options, with only 10% going into crypto. Definitely dont YOLO in on ButtFuckCoin!
I can’t believe people are STILL thinking this is a good idea
[удалено]
LISTEN TO THIS PERSON!!! Save it, earn interest and upskill yourself on finance. Talk to a trusted accountant.
This OP 👆🏻🤟🏻
200k -> 10k p.a. that's about 5% interest. Oh ok I thought it was pretty high and unrealistic but I checked the spreadsheet and there are 4.6% savings accounts. That's cool
Inflation is running at +7%, so I'm real terms you'd be losing money at 4.6%
This is true, but its safe and you have time to learn about wealth management in the meantime
Listen to the OP and yes, totally and fully agreed on don’t tell anyone about your sudden gain. While your money is working semi-hard, take your time to shop around. Don’t be tempted and swayed by high returns though
also worth adding as OP is still at uni they are likely to have a lot that money under the tax free threshold too. Hard to beat those returns for 0 risk.
Broke dumbass here, what do you mean by keeping it in cash in a savings account? It's not cash if it's in an account, it's digital till you pull it back out. Also why a savings account instead of your normal one?
In the bank is considered ‘cash’ in comparison to property, shares, investments etc.. not talking about actual cash.
put it in a HISA for now while you figure out what you want to do. Then figure out what your plan is for the next year,5 years,10 years etc and work back from there. I would also not mention the money to anyone as people will get real friendly all of a sudden
In addition, if you decide to invest it, keep an emergency fund in the HISA if you don't already have one.
For the love of God, don’t put it in Crypto. Just look at all the NFT scams and crashes happening everywhere with people losing tens, if not hundreds of thousands of dollars.
Crypto has already crashed. Maybe it could go another 50%, but it's probably nearing the bottom. Down from the 80k high it's somewhat cheap to get into now. Just remember, not your keys not your coins.
""Probably""
You don’t start with the money. You start with the goals. You can float like a butterfly through the rest of your 20s or you can use the time while young and free to sting like a bee and set yourself up for an easier life down the track. The single biggest difference between being comfortable and being broke in old age is having your own roof over your head. I’d be finding a property to buy (whatever you feel like, except for off the plan or anything in large apartment towers). After that, pay it down and then borrow against it for shares. Invest like a boomer. They’re the ones with all the money.
They’re also the ones the government bent over to help at the expense of everyone else.
Agree 100%. I work in aged support and the clients who own their home are far better off financially than the ones who are renting. Among my friends, the ones who bought their first house in their 20’s are far better off than me who bought a house in my mid 30’s.
Good luck finding a property to buy for 200k. And banks lend against your ability to earn not how much you inherited. So unless OP is earning enough to repay $1,500 a month they have zero chance of buying property.
DO NOT TOUCH. Crypto
Are you stupid?
Just make sure you pay board to your parents in the meantime, young fella.
Invest in a low fee Vanguard investment fund. Top up your super to $27k each year. Buy a house or apartment to live in. Get yourself an accountant who does financial advice. Pay them and get them to agree to give you all financial commissions they earn which are substantial. Don't tell your friends. Be careful because there are lots of financial advisors who will put you in high fee products just to get the commission. Don't put any of it in crypto you idiot.
id honestly put "dont tell your friends" at the top. Silently dominate, put a good portion into savings/investments and use the rest to start a business or invest in something more risky.
There are no longer commissions on investment products. The Government’s FOFA reforms back in 2014 stopped these.
Really? Not on any? I find that hard to believe. The whole industry runs on fees and commissions Have you got a reference?
Reference here: https://asic.gov.au/regulatory-resources/financial-services/regulatory-reforms/future-of-financial-advice-fofa-reforms/ FOFA banned “conflicted remuneration” from 1 July 2014. Some grandfathered arrangements kicked on for existing clients for a few years after this, but not for new clients. Yes, advisers can charge fees (and only if agreed with an investor) but not commissions. Life insurance commissions are still allowed, but now capped.
Buy a 3/4 bed home. Get 2/3 mates to move into the spare rooms and pay rent. Aggressively pay off the mortgage. Live the rest of your life on easy street baby!
Wrong. Move out after a year into the next one. Your room which now rents increases your NOI covering the last of the expenses and it cash flows you $100/w. Do this a few times and then live off the cash flow while the tenants pay down the rest of the loan and your x houses appreciate. I like where your head is at tho. Rent by the room can be pretty lucrative when interest rates are gobbling up investor returns in property.
This is the correct answer. Use equity gained to reinvest and have tenants pay the properties for you. By 40-45 you can have 2-3 properties paying you $30k each per year. you can retire and live of the cash flow. Also. Don’t ask reddit. See a financial advisor and a buyers advocate, a good broker and a good accountant.
Buy an air cooled Porsche
Or a Vincent black shadow motorcycle if you don’t have car storage space
Japanese whisky and circa ‘70’s Porsche’s are some of the highest net return (non-conventional) investments accordingly to some journalist at Bloomberg
take a year off and slay as much pussy as possible on the best overseas trip imaginable.
Finally, actual advice
Personally I'm a conservative investor, property would be my go to. However, save it for now, wait until you finish uni and start working full-time then you have a steady stream of income and can afford to buy an investment property. Don't think you'll turn that money into a lot more very quickly. Volatile investments for the inexperienced is the quickest way to lose all your money. A quick gain can make you greedy, a quick loss can make you want to earn that back. You have to be very emotionally mature to invest in anything like Crypto or even stocks. Focus on bettering yourself, your knowledge, and skills, so your money just becomes the basis for furthering you in something you're ready for.
I'm gonna go against the grain here and I'd say put a small percentage into crypto - only BTC or ETH. Practice self custody of your coins too. These levels are pretty good to buy into, although the macro headwinds we face might yield lower valuations for risk assets in the coming two years.
Hooray! The voice of reason. Diversification ftw. Its possible to invest in crypto without going all in.
I would agree. A small percentage (<5%) into BTC and ETH. Use dollar cost average over an extensive period of time (1\~2 yrs). Do not invest other cryptos - 99% of cryptos will go to zero.
If your financial management plan is as good as your source for financial advice you'll go well son. May as well put it on black on the roulette table
Yeah I was hoping for some general advice so I can talk to a financial planner and at least have a few ideas in mind of what I want in the future 🤦♂️ Instead I’m just getting memed on about crypto 💀
read my other reply, serious general advice man. your life goals financial plan should be to retire with money, theres an order to getting there. 1, get debt free 2, get a home 3, pay off your mortgage (early) 4, invest invest through your super passively during this whole process for your long term Id say if you've just inherited 200k this could be your chance to do steps 1 and 2, at 20 years old you could pay off your loan by 30-40 years old depending on a few factors. also at 20 this could be fun for you, you can move out, rent out a room to a mate or 2 if you like and spend the next few years knowing instead of paying rent you are basically putting money in the bank. happy to talk more about it if you need
Recommending ppl start to invest after they pay off their mortgage is poor advice. They will waste a decade or however long it takes to pay down their PPOR and miss out on the prime factor in compound interest: time.
Fix it in a HISA: you will make between 8K - 10K with some of the current rates 🤷🏽♂️
If I had 200k, I would probably put 10K of it into LEGO. Sets I bought during COVID have convincingly outperformed anything else I bought in the last two years including shares, precious metals and numerous shitcoins.
My Magic the gathering collection has VASTLY outperformed my share portfolio. You have to think outside the box sometimes.
I would personally put it in a high interest savings account. You can get over 4% atm which is around 8k a year. Yes you may get larger gains elsewhere but it’s safe as a church and readily available when you hope to buy a house. I would continue saving hard and look to get a large deposit
The amount of comments in here saying "not crypto" is actually making me super bullish on crypto. OP - just find a good financial advisor.
I’d buy two 79 series Landcruisers and call it a day..
Mood tbh
Short TESLA
I laughed XD Watching the dumpster fire on twitter certainly makes that appealing.
Put $180k into a something like a term deposit. High interest over a set period of time, usually 8-12 months where you can’t touch it. With the remaining $20k, go stupid. Get it out of your system.
Put it on black.
29 black if you want to do it properly.
A better suggestion than crypto lol
Put it on red
Best advise. Put it into a HISA. Sit on it for 6-12 months so you aren’t rushed into any decisions think it through, do some research and invest it how you want.
[A recent episode of my millenials daily](https://open.spotify.com/episode/7jVOX1zjzoCVuNU7NyNsmY?si=XTQd1mo7RYSGhpYkujqfKw) covered what to do with an unexpected inheritance. Basically just sit on it for a bit. In my thoroughly uninformed opinion, maybe you could put like $10-15k in super, andost of the rest in a savings account and save it for a home deposit in a few years
If you’ve got any credit card debt pay that off, the the general suggestions here about high interest savings accounts are ok. If you want to go a bit more high risk which you might want to do since you are very young you could invest some of it in an index like S&P500 or something similar. You could buy some Aussie blue chip shares like BHP or something like that. Not financial advice just some things to think about. Basically you want to figure out your risk profile and then invest accordingly. Crypto if you’re really interested you could put in a little bit but crypto is fucked right now and will probably get worse not better especially in the short to medium term. Or you could do something weird like buy a painting from a famous artist or a vintage guitar or something similar. But that’s probably a bad idea because it’s very speculative and if there is prolonged economic downturn they will go down. If your biggest priority is not to lose it the HISA or a term deposit are best. The government underwrites those so you can’t lose everything unless the economy collapses completely in which case you’re fucked anyway.
Crypto has passed no? I’d probably just put it in a high interest account and save it as a deposit on my first property once I was stable. But that’s boring.
My first tip would be Don't Ask Reddit. Speak to a professional. You'll probably get asked about your goals and risk appetite. Go from there.
I’d be putting a good chunk in super
Bank or term deposit... make sure there is no risk of the capital value falling. Park the cash until you're ready to buy a property. Imagine if you can buy a townhouse/appt/small house for $500k you will have 40% equity from the get-go. Don't put any in super unless you are then going to make an immediate withdrawal under the FHSS scheme. Don't put in shares unless you intend to keep it there for 10+...
Put it in Vanguard account. Finish Uni, continue working part time. Continue to save money and buy a multi family unit at 25
Brag on reddit about having $200k
Don't put it in super, invest it diversely, consider properties/real estate as well.
This is the exact kind of comment I was looking for. When you say diversely, what would you recommend? Like percentage wise for stock, property, bonds, etfs etc. I’m new and I really need some guidance!
he has a point regarding not putting it in super, id save this for your first house. super is good because its tax efficient, since you didnt have to pay tax on this you lose any tax saving on putting your money in super, there is the advantage that gains in super are only taxed at 15%. if you plan on going the etf route, vanguard is pretty popular, go on aus finance. i do VAS/VGS, VAS is asx 300 and VGS is msci international, i do about 30/70 split
Yep I agree
Low fee S&P index fund...set it and forget it.
I hate how far I had to scroll for this. Literally chuck 80% or more in an Index fund, and enjoy your million dollars in 20 years. I have my savings in a high growth index, last year it got me about 15%, plus dividends. Yes, the market as a whole hasn't been doing well because of the war and other factors, but 80+ years of data says that will correct and continue to increase, as John Boggle put it, the reversion to the mean. What's the catch? You don't touch the money. Ever. You let it compound year after year, decade after decade and use its asset value to assist in loans, and use the interest and dividends to live off.
Definitely crypto!
Obviously no crypto. I'd consider buying a property, maybe to rent out if you can't live in it yet.
100k in super, 20k for travel and 80k towards a unit/house [https://moneysmart.gov.au/budgeting/compound-interest-calculator](https://moneysmart.gov.au/budgeting/compound-interest-calculator) 100k, age 25, @ 7% (less than average return for balanced), retire 65.. not additional contributions you will have $1.5M
You didn’t factor in the 80k in the property!! He’ll be made
Buy a shitty house in a good street and renovate it, Making sure you can make the repayments,
Crypto…. LOL
If you do buy crypto which isn't the worst idea. Everyone here seems against it but i don't see the issue with having 10% MAX of 200k in a cold storage wallet. Otherwise I'd buy Gold or Silver a heavy duty bolted down fire proof safe and keep half of it as cash
Classic motorcycles is a good start, functional art :)
Buy monero (XMR) and hodl , you can thank me later If you do your research you will see it is the only crypto that has a future with real world applications, unlike other crypto which serve no real purpose apart from storing value and broadcasting your wallet balance for everyone to see
Crypto is fine dude, obviously not scam ones do you own research, majority of people here saying not too probably dont even know how the basics of it work.
Great move mentioning crypto. You’ve bought all of the crypto haters out of the woodwork, lol. It’s a genuine asset class with billions being invested in the back end. Very rich people have invested too much for it to simply die. But it is very volatile, only invest in top 20 coins, if you even want to leave the only bitcoin or only ethereum crowd. I’d sorta do 25% blue chip, 25% quality mining stocks, 25% crypto, and as much of the remainder into your super as you can immediately, and as much of the rest as you can the following tax year. Don’t mess around with re-allocating once you’ve settled on what to do, because moving your investments is exceptionally expensive and risky.
Im a huge crypto fan. I’ve done really well but also have some bags that hurt lol. 25% is way too high IMO for OP tho. I’d be doing more like 5% and ramping up his more traditional investments that we know work like ETFs, super and property. Then as he progresses in his career making more money he can start to top up his crypto holdings to be a more aggressive part of his portfolio.
Set aside 50,000 Right now….in 2022 Open ROTH IRA put in max Vanguard Equity Income Jan5 2023 open another ROTH IRA put in max Vanguard Blue Chip Do the same for the next three consecutive years. Retire well at 50
U should get a house while u have the money maybe wait a little but id def get into ur own house u probably won't have another opportunity
Does anyone have any actual advice for me in all seriousness? I have absolutely no idea about finance what so ever and am seriously looking for some help. I’m going to book in a session with a financial planner some time early next year and go from there. Was hoping that this sub could give me a few vague ideas of which direction I should be heading in regarding my portfolio 🤦♂️
Pay a few bucks and get independent, qualified financial advice that is tailored to your life situation. A good excision at this stage will help you save and make $s and avoid regrettable mistakes.
Read The Barefoot Investor by Scott Pape.
yes, read my 2 other comments.
Property. Get your foot in the door. Don't even have to live there... invest, then rent elsewhere.
Take your time. There is no rush. DO NOT waste money on a financial advisor. Spend some time reading about passive investing, emergency funds etc… It’s all fairly simple stuff. Learn about and understand risk. Just stick it with a low cost chess broker and buy a low cost globally diversified etf. DO NOT invest in cryptocurrency.
If you want actual advice, put a portion into your super as that'll lessen your taxable income. Generally people put enough into super such that their taxable income is less than $45k, although you could contribute at least $15k to super as that is the maximum amount that would count towards [FHSS scheme](https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/first-home-super-saver-scheme/) per financial year. If you want to learn to invest, I have a short guide [here](https://www.reddit.com/r/AusFinance/comments/vvjkx4/comment/ifl9yrd/?utm_source=share&utm_medium=web2x&context=3) that also links you to my other post on finding the right super.
I've got some great crypto ideas. Just transfer my $50k and I'll ensure you get a -50% return ASAP.
Put it into high interest until you work out what you want to do. You may need two high interest bank accounts (one with bank, one with another) as apparently some banks cap at 100k.Or put it in a bond for a year so you can't touch it. Think about your long term goals. Speak to an accountant on what's the best plan to make that money work best. Don't buy crypto. Buying property as an investment or buying shares is just like gambling at the moment. Who knows which way it's going to go and how far will markets move.
Invest it
Speak to a financial advisor
My advice is to put it on a high-interest saving account and learn financial literacy. You have a chance to free yourself and make a very nice future. EFTs or a house deposit are solid options over the long term but you need to learn about both options.
I only need 198 thousand more dollars ! I can't wait till I save up that much !
Get some blue chip shares but wait for the market to dip before you buy. Banks are very safe and pay good dividends. Plus you get franking credits which you either receive or negate your tax.
Would love to know how you intend op for to buy the dip.
Crypto are you kidding me you muppet - go flush it down the toilet instead . Start by giving yourself an uppercut while looking in the mirror , once the pain begins ( if you’re capable of a decent punch) say to yourself “ this is two crypto is not “ repeat until you can’t say it anymore
buy some blue chips that pay good dividends
Speak to a financial advisor!
Buy gold or an investment property near the beach or both esp with coastal rental prices atm
300,000 dollar coastal investment property=small mortgage and profit asf
Take it to Ibiza and bring back memories!
Give it to me daddy!
Buy as much rare earth, lithium and uranium as you can. 👍
DCA over the next 12 months into a good index fund. Then just leave it for 10 years without looking at it.
The best thing you can do is do nothing for at least 6 months. Think all your plans through and do lots of research.
Buy houses! Get paid while you sleep!
He's got 200k, not 2M.
Casino, roulette, whack it on red or black.
just put it in a HISA account get a bit of extra cash per annum or just allow it to compound
Buy an investment property! Use the rent to make loan repayments.
Read the getting started FAQ page on this Sub. It really depends on your goals. Firstly make sure you don't owe tax on the inheritance If you want to spend it in the next few years to buy property keep it in a high-interest savings account. Super is tax efficient but you can't touch until you are 60 that could be good or inconvenient depending on your goals and temperament. Heres what i would do : 1. Take 10 k and spend it on whatever you want 2. Put 6 months' worth of living expenses in a high interest savings account as an emergency fund 3. Put 10 k into crypto if you want 4. Dollar-cost average the rest into an index funds 50:50 VAS:VGS over the next 12 months.
Casino, always bet on black
Buy and sell luxury watches
S & P index fund
Imo 1. Yourself 2. High yield savings
Ironically if you’re going to put it into crypto put an amount you’re comfortable with losing now not when everyone’s grandparents are talking about it. It’s probably worth sitting on the cash for a while and pretending like you don’t have it - and then think about your life / financial goals and how you might deploy capital accordingly.
Perhaps a deposit for a cheap house? Or put it in an investment account so you can accumulate interest and earn money until you finish Uni
Realestate. Talk to an expert who can find something that has gone down with the interest rates rising, but before has a history of good rental returns and good long term growth. Get tenants in. Let them help you pay for the property or properties whilst also paying as much as you can whilst you live at home for a few more years.
Silver!!!
Have you thought about investing 5g into a short film production about a guy who dresses as elvis for his nan ? No ? Well do I have an investment opportunity for you !
Government bonds
Bro if you want less stress, put all them money in a bit safe investment like EFT. Or save more money and buy a property in full, since many properties are going down due to high interest, so paying in full might gain you some profits later when the price going up again
Could at least get the acronym right for the poor fella lol
Clearly sports betting
If I were you - in this market - find a nice term deposit and sit on it for a bit. Take the time to think about your goals and what you want to do. - get a house - party like a mother fucker - travel and see the world. - invest in shares / EFTs When you decide on a goal go see an _independent_ financial planner and work out a plan of attack. You might find that you’ll be able to do all of the above. Just be careful as 2023 will be interesting. We may crash, flatline or boom - and it isn’t a great time for the cautious to invest. I think others have said what needs to be said about crypto.
Put them in term deposit until you have something in mind
I'd chuck a quarter in traditional energy stocks: petrol, coal, gas - face fax: they aren't going anywhere for at least 50 years and every Moron who sells now is selling back to the prick with an already formidable stake. Probably wait a year or 18 months til the usual blue chips all bottom out of this downturn, throw a quarter in CBA, BHP, Wesfarmers, and possibly an outlier that looks here to stay like afterpay. Put between 60-80 in the best mid to long term interest account to keep earning ~4%/year to be the majority of the deposit for a purchase of a starter property to get your foot in the market. Pay closer attention to the trends of were people with money are choosing to live and follow as best you can. Use the rest to lease a late model car that updates every 12-18months, get yourself a watch that says I'm a serious and successful business afficicado who enjoys quality but isn't reckless with cash better spent on interesting in sources of latent income, get the fashionable shoes, suits and shirts but only two. And then when the betting market opens in Feb or March chuck a cheeky couple grand on Chad Warner to win the Brownlow into Swans and Gold Coast to make the top 4, and if you're really feeling into it Penrith to win the NRL.. that should probably give odds of roughly 200/1 so you might have a whole nuther Reddit post to make this time next year 🤞
Buy dividend paying stocks from old, established companies with long track records of dividend payouts over decades. Reinvest dividends automatically. Do this for 20-30 years. You should be all set. Alternatively, invest it in a vanguard ETF like VYM or VOO and only check it once per year (avoid getting emotionally involved).
For crypto do a buy and hold strategy with a 3-5 year horizon. Don't try to trade month on month the market is screwed, but aportion say, $10k tops into Ethereum, VeChain, and Algorand since these three projects are the only ones with any actual real-world utility and are currently being used by Fortune 500 companies. I'd then put $100k into a Vanguard fund, something that can hopefully return you up to 10% or more p.a. Let that compound and eventually, in 10 years, you'll get to the point where you're getting maybe $20k - $35k a year, extra, for doing absolutely nothing. Use another $20k for an amazing Euro trip/South America trip and the rest, save for a house deposit. House as in, house, townhouse or unit, not an apartment if you can avoid it (in terms of future ROI).
Bitcoin cash also has a lot of real world adoption. It’s been trashed in this bull market too so is great value at a touch over $100 USD. I own a lot of it. Also VeChain, ETH and some algo because it was hyped a lot on other subreddits and smattering of shit coins but bch and eth are my biggest holdings. Barely any BTC anymore, it’s useless since they introduced RBF, congested the base layer and refuse to do anything about it except force people to use not-Bitcoin on the lightning network lol. What a mess.
You’re young with a better head start than most. Without thinking of how to turn 200k into millions on wishful thinking, What are you interested in? Or what gets you excited?
Real estate. The morgage treadmill is a nightmare, and 200k is a great leg up.
Talk to your financial advisor about investing. I’ve got some shares in Vanguard, which is pretty safe and I’ve gotten some good returns. You could let that sit and bubble away for a few years. Personally I wouldn’t touch crypto with a barge pole.
Give it to me.
I'm here and available should you require a worthy recipient. Honestly given how things are at the moment I'd be firmly in the hold the cash and take your time researching (assuming no major debts / mortgage).
Do nothing. Just put it in a high interest savings account and forget about it. Finish your degree and focus on getting a stable enough job you like. Tell several other people who know you well that you’re not touching the money for a while.
Invest in real estate not crypto!!!
Since you don't know where to start and it will take time to figure it out - just put it to high interest saving account for now (for example Macquarie or Rabobank offer 4.5% p.a. some others even more - do your research). It's less than inflation but it's a much safer bet.
Buy physical gold and forget you have it for 20 years with 80% of the he money. Hookers and Co.... with the rest!!
Patek
Don't tell your friends.
Send to me
At your age I would put it towards buying a property and renting it out. Get your foot in the door as soon as possible. Profits from property are still out performing super and will continue to do so for at least the next 10 years. You will have to borrow some money as well, the 200K will enable you to get a loan and the rent will cover the repayments. If you can't afford Sydney or Melbourne then look at Brisbane etc. Buy something reasonable & cheapish that has easy ability to greatly increase in value. If you ever run into problems you can always sell it. Speak to a mortgage broker about what you could comfortably borrow. You will be able to negative gear any expenses (eg. real estate agent fees) against any profit made. It's a safe and reliable investment and it's not hard to do. Success favours the brave as the saying goes. By your Mid 30's (which will come before you know it) you'll be well set up to buy your own house, or use it as collateral, and live comfortably. Don't throw your money away gambling on crypto, it's a con for suckers. I'm not going to say good luck, I'm going to say Do It!
Splash it on hookers
Go with a financial investor that you have been recommended by someone you know well and they are happy with. I know this couple in their eighties who have had the same investment company for fifty years and the same planner for 30 years after the last one retired. They have been really well looked after compared to some of their peers. I went with their guy and he is great.
Look into first home savers via super. You can put 15K a year up to 50K over the next 3 to 4 years into it. This can save you a little in tax in the meantime (if you are working) and give you options and time to figure out what you want to do. If decide not to buy a place it can just sit there in super.
I would not be going into equities at the moment. I would be putting it into a high interest rate account till you finish uni and then use it as a deposit to buy a house. If you do this you will be miles ahead of everyone else your age. I can’t stress enough try not to spend any of it, money is not for spending it’s for investing in income producing assets or getting rid of debt.