WHERE TO INVEST $10k
When I look back on the most popular Money stories of 2020, there are three themes that stand out. Any story that fell under the Covid-19 tag is the frontrunner. And the most popular coronavirus stories can be split into two: anything to do with JobKeeper and the early release super scheme. Next comes how to invest for children, and then practically any property investment story you can think of. None of these themes look out of place in a 2020 cover story such as this, answering the perennial question: where to invest $10,000?
Whether you qualified for a supplementary income from the government or needed a cash injection from your super to get by during the pandemic, these payments can well be an investment in yourself.
Or perhaps the pandemic and subsequent recession has made you think about what the future holds for your children and grandchildren. What money can you put aside or invest now to give future generations a leg-up?
While $10,000 doesn’t go far when it comes to investing in or buying a property these days, it does stretch when you put it to work correctly. Whether it’s adding to your mortgage offset balance, contributing to a renovation budget or paying for a well-informed buyer’s agent, there’s always somewhere that money can make a difference.
This year we’ve answered some of these challenges and more. We’ve asked eight finance experts where they would invest $10,000 and the answers will give you plenty of food for thought.
What they’ll tell you is that if you’re to going to invest, firstly make sure you can afford it. If you’re taking money out of term deposits to invest, for example, make sure it’s a sum you’re prepared to see invested over the longer term.
You will also make mistakes. If your $10,000 is going straight to the sharemarket, you don’t have to gamble it all on one stock. We’ll show you how to split your investment and start the beginnings of a promising shares portfolio.
And as much as Covid-19 has changed the way we live and work, it’s also changed the investment landscape heading into 2021 and beyond. Whether you’re looking for an investment roadmap for next year or want to know why ESG (environmental, social and corporate governance) options are a solid choice for your super, or what the financially independent, retire early (FIRE) movement has done in Covid-19, here are your answers.