Thanks to everyone that left feedback on my last thread. It's been well considered... sounds like my idea, at least for the time being, probably isn't the right way to be going.
So what's the next step from here? A margin loan has been scrapped, but I'm still seriously considering a managed fund.
I've been reading about several different managed funds & fund managers, and the one that interests me the most (by far) are the Vanguard index funds. Their fee's are ~1%, and from what I read managed funds rarely outperform the index anyway. I also like that the hard decisions can be made for me, while I can educate myself a bit more before I start taking bigger steps.
i've got about 13k in savings, I would feel relatively comfortable investing 10 grand of this money, leaving 3 grand left in cash, which I can build up again.
So I've got some questions... as usual...
1) Conservative, Balanced, or Growth type accounts, due to current market volatility? I know this largely comes down to risk profile, and I dont mind risk too much but if my account is only going to head downhill in a growth type fund in the current market conditions, it seems a little silly. My thoughts at this point are to invest 5k in a conservative, 5k in a balanced until the market calms down a bit, then I can bump the risk up. Thoughts?
2) See a financial advisor? I've got 3 options, either pay the 2 grand for a full service advisor, see an advisor at my bank ($350), or not see one at all. Are the advisors at banks etc worth seeing, or is this a waste of $350? I'm a bit hesitant about paying 2 grand for an independant guy, that's 20% of my investment capital!
3) Is investing 10 grand in Vanguard putting all my eggs in one basket? Perhaps I should be considering 5k into a Vanguard Index fund, and 5k into AMP instead to diversify? Thoughts?
4) Any other ideas or avenues I should be considering over the next 6-12 months?
Thanks for reading.