Hello, I am an Australian student in my early 20s who is looking to best utilise my excess income.
I currently have 7.5k invested in SPY:ASX which from my understanding tracks the S&P 500. I have around 5k in everyday savings that I would consider an emergency fund since I am earning enough from a scholarship, tutoring and a part time job to have spare money at university. I have around another 10k which I am looking to do something with.
My ideal would be: - initially invest around 10k - make regular payments of some amount (from excess income, for example 1000/year or 6 months) into this investment which compounds - receive around 4-5% per year interest (is this unrealistic?). Preferably this would be a guaranteed return or at least a safe investment - ideally, I would like the ability to withdraw funds, or at least the funds I added after the initial investment.
Does anything like this exist? If not, what would you recommend I do to maximize my interest on savings while having a structured investment scheme for my excess income for the next ~5 years?
Thanks so much for your help.
Submitted February 10, 2019 at 05:43AM by ParallelPlatypus http://bit.ly/2GhKa1n
