Do what with shekels?

Hi Sup Forums,

I recently came into about $70k through being made redundant at work. Wondering what Sup Forums thinks I should do with it.

Relevant information:
> Have a house worth ~$1.2m
> Have a loan against that of ~$750k
> Sold all my gold/silver/shares to buy the house, so not holding any of those assets
> Car is paid off and modern
> Married, no kids
> White
> Now working a 12 month contract (full time), get paid $950/day, so I'm pretty comfy

What should I do with my glibs, Sup Forums? Pay down the house, take a defensive position with metals? I've got a small art collection (my Dali is my pride and joy)...expand on that?

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twitter.com/NSFWRedditVideo

bumping for wisdom

kek kek

thanks, bruh.

where do you work?

Do sort of IT work - in NSW based.

>950 dollarydoos a day
what's your job m8?

SAP consulting.

Basically setting up a database. Fell into it, no Uni or anything like that.

I started our LARPing and nobody ever called me on it.....good times.

any actual thoughts on my question?

Nice one, I have some SAP BusinessObjects skills but only on the report writing end

I would suggest you invest toward your long term financial self-sufficiency, don't blow it on anything however tempting that may be. It's my opinion as someone in his 40s that everyone should aspire to having "fuck off" money

Buy a trailer at a trailer park and rent it out to people since you can't afford to buy another house and rent that out.

(and it would cost much less than 70k, you'd have money left over to either invest or put in a savings account)

Sounds like you should save it and have kids.

Thanks SAPbro -

I'm sceptical as fuck on the share market, feel like things are about to be shook up - our system of
>buy house
>get rich
just isn't sustainable in the long term - but I've been calling for a crash for 10 fucking years and keep being wrong.

Having a bit of gold/silver stashed somewhere suits my paranoid nature

I have a natural tendancy toward income producing assets - I'd really like to buy a farm and lease it out - thinking of doing that through an SMSF....don't have the straight capital to do it straight up.

>Aussie
>calling it a 'trailer'

What the fuck is this shit?

Trying mate....not sticking so far....

Thanks Sup Forums

oh, and fuck you, cunts.

You asked for thoughts on your actual question, I gave you an answer so you pick at the words I used? What the fuck?

Invest in lithium and helium for long term and wait a bit before buying stocks the markets gonna fall soon

No actual Aussie calls a caravan a 'trailer'

I looked into it just not - central coast NSW would be my bet to get in, but you never actually 'own' anything as best I can tell.

I'll research it more, but it doesn't look great.

Also, housing degenerates isn't my preferred option.

how? I can't order a fucking container of helium, and you're predicting a market crash.

I don't get what you're throwing down, poo.

Normally at this point I'd say to get an investment property but the market is able to burst so hold off on that. Just load it all into cryptocurrency.

>earning ~175k after taxes.
Fuck you.

Huh? It is only about 2-3 months pay so why would you care? Anyway putting it on the loan will be better than banking it, plus you don't need the cash at the moment. Your contract probably doesn't give you any particular time to take a holiday with the wife, so probably not that. Home loan is quite large for someone with less than a years work arranged and that 70k is about a years repayments I suppose

I've considered it, but cryptocurrency is a meme in my view. Backed by less than actual dollars.

>redpill me if I'm wrong

Also, the $950 is what I charge, super comes out of that, so it's still comfy, but not quite that level.

Also, I don't get paid for public holidays, sick days, vacation etc etc, so you aren't even close.

Be lucky to be $120k net.

some truth, but your math is WAY off.

Based on 20 days work/month and then tax its about 6.5 months pay.

Also, I'm a mild OCD, so I need to stick it somewhere else I'll blow it on something.

I can stick it as a loan offset for now, but I'd like a defensive position cos I really think the property market is gonna fucking tank soon.

If the property market is going to tank then wouldn't it be a better idea to lower your gearing ratio? (ie pay off the debt)

debt is fixed I am saying

I hear ya - and I threw that as an option for that exact reason - however...

If the AU property market tanks, all hell will break loose. Our dollarroos will be worth like 20c to AmeriBucks. Gold/silver may outpace on the upside the decline in property in the opposite direction.

In that timeline, our bucks are so worthless that our government freaks out and offers property to any chink that wants in - putting a lid on losses.

As previously stated, a farm is what I'm after, but doing it through super is fucked unless I can work out a 'cash-in-hand' deal for part of it - which I can maybe do as I grew up in a farming community and still have some contacts.

I started the thread looking for other ideas Sup Forums had - but so far nothing creative has been offered.

I've got some contacts in Colombia - have considered rolling it all on an import, but I don't have contacts to sell.

I need a way to leverage my super for private profit - that would set some serious shit up - between me and the wife we are pushing $400k there that is a waste of time as I'm not lasting till whatever the age to access it will be in 30+ years.

Cryptocurrency is a meme but it's insurance against the next stock market bust. When stocks and property go down, crypto goes up. It's basically like investing in gold/silver.

Sorry about my jealousy of your income before. I'm just angry that I have two degrees and having to apply for jobs that pay 55k.

real question is why did you buy a $1.2m house

Paid $830k for it - wife had an inheritance and I had some cash saved.

Have since renovated it - cost $100k.

Then the market has been fucking insane here, so the rest it just that.

Also, look at Sydney property - the AVERAGE house is ~$1m buckaroos - so my house is only a bit above average for the city.

You need to understand the Australian property market.
pedestrian.tv/news/arts-and-culture/it-took-4-minutes-for-this-run-down-sydney-shitbox/01a57ebc-d06d-4656-959e-7cf4451d65b4.htm
>Pic related.
>1.9 million.
>New owners don't even know what to do with it.
>went up 500k form the alst time it sold 3 years ago.

This is why three people in the thread, including myself, have said it's going to collapse.

You can buy the caravan and buy a permanent spot in the park, place the caravan and pay someone to do some work on it (give it a veranda, etc) since it won't be moving anywhere.

what the fuck

You know that scene in The Big Short where the stripper owns 5 houses and a condo. That's Australia except the stripper is everyone over the age of 40. It took a death in the family for OP to get his toe in the market, everyone else is just crying themselves to sleep.

But do you actually OWN anything?

i.e. if the caravan park goes under, the owners fuck off etc, what happens?

I think (but would like details) you don't actually OWN anything.

am I wrong?

Mate I'm in a similar siti, just on a bit less as the missus went part time to stay at home and look after our son, but guns, car, motorbike...everything we have we own aside from the house.

Also looking for a long term strategy.

I want to bring new and exciting carnival rides to Australia. Anyway you'd be willing to invest?

I mean, you could totally buy me a jap sports car and have it shipped over here.

>but I've been calling for a crash for 10 fucking years and keep being wrong.

I think everyone has OP. When we've been jewed into a false sense of security you bet they'll crash it with no survivors.

Just gunna talk to myself now.
>Rent little apartment in East Freo with partner.
>Shitty little old fibreboard house going up for auction down the road.
>My parents were in town
>Mum wanted to go and have a look.
>"What do ya think it'll go for? 800 thousand?"
"Mum, this will go for at least 1.4 million"
>Auction starts
>Quickly passes 1 million
>Sells for $1,405,000
>"Wow boy, you should be a real estate valuer!"
"No! I fucken hate this. Besides, no one will hire me"
>Successful bidder was seen measuring up the driveway to try and figure out how to battleaxe divide the block.

Let's see, have you started making investments into things like property or shares in companies at all?

Those will let your money accrue value a lot better than just leaving it in a bank tbqh. I'd also advise putting at least a reasonable fraction into blue chip stocks like Alphabet, Intel, Apple, Microsoft, etc. Defense companies like Lockheed Martin might make a cool move if you're into a little risk, especially given the increasingly precarious situation with the Norks.

>Basically this

between my wife and I we earn ~$350k/yr.

We do fucking squander a lot of it - but we sure as shit aren't rich.

Not even LARPing, my fucking roof leaks.

The market here is fucked - but I said that 10 years ago and it just keeps doubling.

I've been in my current house 10 years, I've noticed that every single time a white family sells, it's replaced with chinks. We have gone from 85% white in my suburb 4 years ago to 50%.

It is getting fucking weird.

So you are $680k in debt? Well man, I would create a giant pool full of dollar coins and swim around in it!

>Trips of truth

There is a saying - "the market can stay irrational longer than you can stay solvent" If it was ever true it is in our housing market. It's fucking insane.

My ideal trade right now is to short the Rand against the Yen - but I'm too fucking lazy to work out how to do that.

I'm leaning toward just buying some gold/silver and stashing it somewhere - I'm fucked with my loan when the crash comes. My wife demanded we buy this fucking house.

Not so much here in QLD. Lots of young, white families doing the same as us and buying shitboxes on the cheap and sinking a lot of time into doing them up. My mate bought into a great suburb north of the river up here for 300k, and it wasnt even that bad a place.

or I could sell my house and have $500k in bank.

How are you going, friend?

Got loads of Dollarroos?

Except it isn't because a house of that size in hong kong is worth 100 million.

>>>>/reddit/

Fuck off, shill.

HK is more expensive than Sydney, but no by much.

However HK has super low taxes and super wealthy nips.

We don't.

You're on of those morons who is over-leveraged to fuck, aren't you?

So markets/future/investing isn't related to Sup Forums?

We discuss at length what will happen if/when WW3 happens, that impacts markets too, cunt.

> Basically, KYS.

>hurr 100 million.
Hong Kong is more expensive, I'll grant you that. But Hong Kong is 7 million people in a nation of 1.2 billion. Sydney, the second most expensive city in the world is one FIFTH of Australia's population. And you know where another 5th live? In the 10th most expensive city on earth.

Nope, just pointing out that houses get smaller to prevent housing busts. In other words, governments prevent housing busts by decreasing our quality of life so now we can afford "a house", it is just a piece of shit apartment instead.

Good input, Jamal

> and that the study does not take into account the very different lot sizes across different cities

There is a reason you see cranes all over the place in Australia. The governments solution to housing affordability is commie housing.

The only way the housing market will bust is some kind of shock in the economy like China not wanting our natural resources anymore. As soon as that happens, immigrants will stop coming here, people will leave, and everyone will be stuck with $500k in debt on a house worth $200k and very few job prospects to pay for it.

Who here /happyrenter/

I rent and I have liquid investments, which means that either way (crash or not crash) I do have options.

What the kek wants

Sigh look it up moron, you can invest in commodities without owning them and the market is gonna crash bigly one of the big nation is leaving the world banking system (((they))) need to our prove their usefulness

Get insurance.
Call the SES the next time there's a lot of rain.
They will do a temporary fix.
Insurance will pay to get it fixed properly, no questions, once the SES have looked at it.


Or just clean your fucking gutters out.

> Married, no kids

Degenerate

EFTs are nowhere near as good as investing in the solid product. Your best bet is to invest in a commodity creator or processor in a downtown.

how good does it feel to be a rich Australian? im 28 and own 3 houses, 2 in melbs doing well 1 in perth not doing as well. net worth around 700k and my qualification cost $4500 to obtain.

fells godd