Q&A
Luke wants a better return on his offset savings so ...
Gold shares are an alternative
QI’m wondering where to move some of our cash, which is in our offset account, along with our monthly savings. While I appreciate the safety and guaranteed rate of return, it doesn’t seem to be the best way to grow this money into something more meaningful.
I’m 41 and my wife is 35; we have two young children and are planning a third. I work full time, earning $155,000pa plus a bonus structure, and my wife works part time, earning $30,000pa. We owe $351,000 on our mortgage with $60,000 in our offset account (we purchased a car a year ago and dented these savings) and a property value of $750,000. We also have some gold and silver bullion with a value of $19,000 at current prices. This has grown considerably in value since we began buying three years ago.
We’re able to save around $2500 a month, so should we continue to just save and buy more gold and silver or look to other assets such as exchange traded funds (ETFs), individual stocks or a managed fund? Everything seems terribly overvalued and no investment seems to make sense to me at the moment.
In this very strange Covid-19 world, Luke, not a lot makes sense to me! However, I get your point about saving via an offset account.
