I have $10,000 AUD in my bank account. (No debt). What is the best way that I can use that money to make more money? I live in Western Australia.
Responses (2)
There is no investment right now that is outrunning inflation except precious metals. Investors hate PMs but they have averaged 14% growth annually since 2002, even after a big drop in the last couple of years. PMs are also the ultimate tax dodge because you only buy metals, never sell, so tax does not apply. You trade metals, like for like, so there is no reporting, no cash gain, and no tax. Metals never go toes up so you have safety there. You store your metals at home, not in any company's vault, so you are protected from any theft short of a desperado physically breaking into your home and searching out your hiding place. Here are some links where you can learn the business:
http://www.gold-eagle.com/top-analysts Pick a name, read, repeat.
http://www.gold-eagle.com/editorials_03/sanders030703.html THE PLAN
https://www.kitcomm.com/ A forum for like minded people.
This is the most boring investment ever. You approximately double your stash every cycle, but a cycle might be as short as a few months or as long as several years.
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