Investment Qptions

If you were to invest $10,000 what would you do with it that is safe?

Would you go term deposit for 6 or 12 months for example or would you do something else?

See, DH is probably going to get a redundancy payout of more than $10k so we thought we would be wise and put the $10k into something that can make extra money for us but we wouldn't want it to be locked away for "too long" in case we needed it. And we both don't have any real idea of smart things to do with that kind of money.

Any ideas would be really helpful.

Smart shares. Go to www.smartshares.co.nz and you should get more information about it. Hubby says there is about 7 you can chose from.

The problem with people at the bank is they always have told us that we should put some on our mortgage and never really listen to the fact that we don't want to do this so we want to figure out what we want to do and then go in and just tell them (if we do it through a bank)

ASB's 12mth rate is really good for term investments... we've got our deposit money (for when we can afford to buy a house - yeah right!!!) in a term investment, and we basically just forget about it, and let it keep rolling over..

I think it would depend on how your finances are for the next 12 months?

Has your DH already got another job? If so, I think I would probably put it into a term investment for 12 months, then look at reinvesting after that.

It's a "bonus", you weren't planning on having it, so having it in an term investment would kinda be like "outta sight outta mind" but still making money for you. I'm probably not making myself very clear!!!

have a look at www.raboplus.co.nz Their interest rates are excellent and they have no fees on the savings account....and you cant access it through eftpos s you kind of forget it is there. It is totally on call so might be a good idea to parrk it there until you know what you want to do. They also have good TD.

The only hassle is you need to wait a week or so to set your account up. you apply online and then print out stuff to send in, then they send you out a little calculator password thing you need to log on with.

I am with them and love it!

I second bonus bonds www.bonusbonds.co.nz

Maybe you could put half in bbonds, half in shares? Shares do have their risks, bonus bonds don't really as they are invested mostly in secure govt stocks etc. You don't earn interest however, but every month your bonds go in the draw to win a share of $1.5million in prizes. So if you invested $5000 into bonus bonds, you would have 5000 shares, therefore 5000 chances of winning each month. Good luck on making a decision, we just put some extra money we got about 2 years ago into DH's super scheme, but are kind of regretting it now as we can't access it more than once a year and have already taken some out for the wedding.

Pumpkin Patch shares :D We have some as hubby works there - and they're always going up as the company is growing rapidly:)

i also do bonus bonds in this sort of scenario...money will still be there at end, and you have chance of winning. It takes 7 days to get it released so uuhave to still think before u get it to spend

Interest rates at law firms are usually a lot higher than abank...put in for say 6 monthto get best rate...then worst case if u need it it will drop to oncall rate if u need it out...

We have bought some US dollars through ASB, opened a US bank account etc cos the NZ dollar is not going to stay high forever! Then when it drops you cash in. I think that you need to invest a minimum of $10K to be allowed to do this.