100K

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sleemanj

1490 posts

Uber Geek

#187466 5-Jan-2009 11:25

Personally, as you need to be sure you have that 100k to give back to your Uncle in 5 years I wouldn't be looking at anything with any degree of risk, 5 years is not a long time. I'd go with term deposits over call accounts, call account interest rates are taking a hit at the moment, so as you don't need the cash immediately, just split it into several term deposits with staggered maturities.

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James Sleeman
I sell lots of stuff for electronic enthusiasts...

Samn0001

13 posts

Geek

#187505 5-Jan-2009 13:41

Thanx James.

My main concern has been making sure I have 100K to return back to him.
I have met up with a Investment advisor from one of our big Ozzie bank's here in NZ, and he believes the Australian share market is oversold and it is a right time to start investing in the big 10....as he calls them...
but he has warned me not to invest directly, rather through a managed fund, to avoid too much risk...

he has also suggested investing in the Call accounts in the long terms and looking at something called a cash pie!

Cheers
Sam

DataCraft

173 posts

Master Geek

#187513 5-Jan-2009 14:11

Hi Sam,

I would agree with all the comments here about just putting the money in the bank, if you are having to ask complete strangers for advice on your money then I would suggest that is the best place for your money!!!

I am a ASB customer and would suggest you stay well away from them.- Kiwibank might be a a good choice. But not ASB.

All the best.

Samn0001

13 posts

Geek

#187517 5-Jan-2009 14:18

thanx datacraft....

I believe ASB is one among the good bank's...
In fact I am in the process of depositing the 100K with them...

unfortunately my experiences with kiwibank has been rather poor..extremely poor customer service...

tonyhughes

Hawkes Bay
8476 posts

Uber Geek

Retired Mod

Trusted

Lifetime subscriber

#187522 5-Jan-2009 14:29

Samn0001: thanx datacraft....

I believe ASB is one among the good bank's...
In fact I am in the process of depositing the 100K with them...

unfortunately my experiences with kiwibank has been rather poor..extremely poor customer service...

Kiwibank are fantastic. Have been a customer for a long time now.

Wouldn't touch ASB with an international standard length barge pole (10ft these days?), not even for a years supply of bagels.

RedJungle

Phil Gale
1108 posts

Uber Geek

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Red Jungle

Subscriber

#187526 5-Jan-2009 14:35

Ditto - Kiwibank all the way for me too. Personal and Business accounts.

sleemanj

1490 posts

Uber Geek

#187528 5-Jan-2009 14:39

Don't keep us in suspense freitasm, what triggered the locking, and rapid unlocking? I didn't see any naughty shenannigans going on.

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James Sleeman
I sell lots of stuff for electronic enthusiasts...

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freitasm

BDFL - Memuneh
79295 posts

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Geekzone

Lifetime subscriber

#187529 5-Jan-2009 14:41

Just something that I wanted checked before keeping things going...

All clear. Nothing to see here citizen. Move along.

allstarnz

1719 posts

Uber Geek

Trusted

#187565 5-Jan-2009 16:10

as has been said, put it in the bank. Rabobank usually offer good rates, and have a good credit rating.

Or as has been said, if you're prepared to take a slight risk, bank most of it, and play with a bit of it to try and get more gain.

sjadd

61 posts

Master Geek

#187796 6-Jan-2009 15:00

About the Cash PIE thing, these are good only if your regular income puts you in the 33% or 39% tax bracket. This is because the interest from a Cash PIE is taxed at 30% instead of the 33%/39% that you will pay on interest earned from an on-call account/term deposit.

If you want a left-field idea for making some quick cash, do a bit of research on online casino bonus hunting ;)

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