A few months ago, I decided to get back into investing. We had sold our apartment years ago and the proceeds had just been sitting in an online savings account. The fact that interest rates were getting lower and lower in Australia prompted me to look for alternative places for our savings and I had been reading up and listening on podcasts about exchange traded funds (ETF).
ETFs are investment funds that are traded on a share market, such as the ASX. In this post, the words “ETF” and “share” can be used interchangeably. When I refer to buying an ETF, I’m referring to buying a share of an ETF on the ASX.
While I had invested in a managed fund in the past, I had never bought shares directly before. This post sets out the steps I followed to set up my ETF portfolio. (more…)
Although I don’t believe in ‘keeping up with the Jones”, now and then I do like to compare how I am tracking financially to the average Australian, whether it is salary wise, savings or spending. It helps to give me perspective and motivation and is an interesting benchmarking exercise. So here are some average balances I have compiled, to help Gen Y Australians see how they’re tracking. I’ve compiled the balances from several sources, since they all differ due to the underlying assumptions, inclusions or exclusions in the data. The numbers I have included cover averages Australia wide, in addition to breakdowns by age. (more…)