Hi all.
I was looking for some direction please. I've managed to nearly save my first $10k!!!! I realise this is nothing for many of you with giant-staches, but for me, this is huge *tiny victory dance*. I would love knowledgeable mustachian direction as to what to do with it, to start on the long path to early retirement! Situation is as follows:
-This is long-term savings only (ie I have a separate smaller EF, and slush accounts for expected expenses such as rego, car repairs, dental etc. So, barring an unlikely emergency, I shouldn't need to access it without notice). If I lost this $10k tomorrow, it would suck, but wouldn't affect us really.
-I may look at buying a place (either as investment or to live in) in the next 3-5 years - but where we are right now, renting is cheaper, and we are in a perfect locality/situation, so there's no push towards buying. When I do buy, I would want a hefty (30%+) deposit.
-I'm 30, secure govt job, 1 tween, no plans for more.
-My superannuation (retirement savings) is quite healthy (I put in 5%, get a govt match of 12.75%), but this superannuation won't be accessible till 65-70 - I'd prefer additional savings to be in something more accessible.
-I'm in Australia, whether that is relevant (?)
- I want to continue adding to this stash, putting in $1000-$1200 a month.
I'm tossing up between a term deposit or investing in shares, but I know very little (read: nothing) about the share market. At present, its earning 3% in a bank account. I'm happy to learn about investing, but so unsure of where to start! Is there an Australian-specific investing for idiots page somewhere? Any advice would be appreciated.