I've read around here and Bogleheads for a while, and I'm attracted to the idea of putting money I won't miss into the market, and pulling it out on my terms a decade later. I'm not interested in an early retirement; I like my work and I want to keep doing it for as long as it stays interesting. Was wondering if anyone had ideas on a fire-and-forget strategy to investing cash that's currently sitting in a bank account gathering dust.
My situation:
I am late 20s, single.
Income:
$100,000 pre-tax; able to save $1500 per month without changing my (very lax) budget.
Average income for my field is $400,000 once training is finished; will reach this stage within 5 years
Debt:
HECS ~$50,000
Assets:
$95,000 in a bank account
$3000 car
Essentially, I have more money than I need right now. I feel that if I didn't see my savings for 10 years, it wouldn't impact on my day-to-day life, so long as my income is maintained.
I figure Vanguard ETFs are an easy way to get exposure to the market.
Could I just open a CommSec account, and buy Vanguard ETFs according to their "high growth" suggested portfolio strategy i.e.
VAF 4%; VIF 4%; VCF 2%; VAS 40%; VTS 24%; VEU 21%; VAP 5%
http://www.moneymanagement.com.au/sites/moneymanagement.com.au/files/Vanguard%20Portfolio%20Strategies.pdfSay I put in $60,000, divide it up as suggested and just let it sit there for a decade or so? Do I really need to talk to some financial advisor whose interests may lie god-knows-where?