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  1. #21
    Senior Member
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    Default Re: How to invest ones small savings?

    The single best advice I have ever had was to pay off your mortgage as fast as you can.

    It is amazing how much this can save you! Not only that, but you also become mortgage free much earlier. A sort of reverse compound interest!

  2. #22
    Senior Member
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    Mar 2012
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    3,262

    Default Re: How to invest ones small savings?

    Some people win big in a lottery too - it doesn't mean putting money into lottery tickets is a good investment option.

    https://www.interest.co.nz/personal-...nt-just-139-pa

    On average, Bonus Bonds are an incredibly poor investment instrument.

    That average return for 2017 was 1.39%

    2017 inflation was 1.6% (https://www.interest.co.nz/news/9176...xpectations-19)

    That means, on average, 'investing' on bonus bonds earned a NEGATIVE real return in 2017.

  3. #23
    Senior Member Digby's Avatar
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    Nov 2005
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    Default Re: How to invest ones small savings?

    Quote Originally Posted by B.M. View Post
    It just so happens that I had a Mate (now dearly departed) who owned a substantial Saw Mill, and as he neared retirement he was made an offer for his Mill by one of NZ's largest building company's.

    The Mill turned out to be worth a $mill so he had a lot of beer money.

    Well his Bank Manager was overjoyed, and offered him all sorts of deals none of which overjoyed the Mate. So, much to the disgust of the Bank Manager and other Professional Financial Advisors, he put the lot into Bonus Bonds.

    You guessed it. First flamin draw he was entitled to sees him take out 1st Prize, plus a heap of minor prizes, so in a little over a month he had over doubled his money.

    Now this mate was rarely seen dressed in anything other than a Bush Singlet, Shorts, and Work Boots so he took immense pleasure in giving the Bank Manager and Financial Advisors some advice.

    But isn't it interesting how little money these Bank Managers and Financial Advisors actually have themselves? Most of the University Lecturers, on matters financial, couldn't afford a round of drinks.
    Thankyou
    I rest my case
    And I did read about a guy who has $75,000 in Bonus Bonds and he says that he wins every month and is very happy.
    So what colour is your Adkaf?
    Have you joined Proud to Be Kiwi yet?

  4. #24
    Senior Member
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    Mar 2012
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    Default Re: How to invest ones small savings?

    Quote Originally Posted by Digby View Post
    Thankyou
    I rest my case
    And I did read about a guy who has $75,000 in Bonus Bonds and he says that he wins every month and is very happy.
    Don't ask for investment advice if you're too batsh*t thick to understand basic facts and expected returns.

  5. #25
    Senior Member
    Join Date
    Nov 2006
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    1,882

    Default Re: How to invest ones small savings?

    wins every month!!! LMFAO

  6. #26
    pcsourcepoint
    Join Date
    May 2006
    Location
    Otara, Auckland
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    2,984

    Default Re: How to invest ones small savings?

    Why not scrap Bonus Bonds - seems the ANZ bank is being unscrupulous and scabbing of it, possibly of our vulnerable senior citizens - who may be lured into this mug's scheme...
    Computer Tech Links (My Tutorials & Reviews)| Free MP3 Software Reviews (My Reviews)|I Student NZ (My Student Resoucre Tips)

  7. #27
    Senior Member Digby's Avatar
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    Default Re: How to invest ones small savings?

    Quote Originally Posted by Nick G View Post
    Don't ask for investment advice if you're too batsh*t thick to understand basic facts and expected returns.
    Sorry, we got bogged down on Bonus Bonds. I was asking for advice on how to invest if you are on a limited income with small savings.
    I listed
    Bank savings accounts
    Term Deposits
    Sharemarket
    Bitcoin etc
    Bonus Bonds
    Commercial Property syndicate

    People have suggested
    Managed Funds
    Web Loan sites - eg Harmony
    Web Shares sites - eg Sharesies

    So which of all the suggestions do people think is the best to build your investments
    Last edited by Digby; 30-11-2018 at 06:47 AM.
    So what colour is your Adkaf?
    Have you joined Proud to Be Kiwi yet?

  8. #28
    Wrinkly Member! B.M.'s Avatar
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    Mount Maunganui
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    6,988

    Default Re: How to invest ones small savings?

    Quote Originally Posted by Laggard View Post
    The single best advice I have ever had was to pay off your mortgage as fast as you can.

    It is amazing how much this can save you! Not only that, but you also become mortgage free much earlier. A sort of reverse compound interest!
    Excellent advice indeed.

    It never ceases to amaze me the number of people who have never heard of, or seen, an Amortisation Table/Amortisation Spreadsheet, and have no idea how much the property is actually going to cost in total when you add Principal plus Interest, or the savings that can be made.
    Global Warming is Mann made.
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  9. #29
    Senior Member piroska's Avatar
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    Dec 2017
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    1,028

    Default Re: How to invest ones small savings?

    Safe:
    Bank savings accounts
    Term Deposits

    Risky:
    Sharemarket
    Bitcoin etc

    Pointless:
    Bonus Bonds
    Risky:
    Commercial Property syndicate

    OK:
    Managed Funds
    Web Loan sites - eg Harmony
    Risky:
    Web Shares sites - eg Sharesies
    Ex-pctek

  10. #30
    Senior Member Digby's Avatar
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    Tauranga
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    Default Re: How to invest ones small savings?

    I have re-ordered your list, which is probably a fairly good assessment

    Safe:
    Bank savings accounts
    Term Deposits

    OK:
    Managed Funds
    Web Loan sites - eg Harmony

    Risky:
    Sharemarket
    Bitcoin etc
    Commercial Property syndicate
    Web Shares sites - eg Sharesies

    Pointless:
    Bonus Bonds
    So what colour is your Adkaf?
    Have you joined Proud to Be Kiwi yet?

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