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Making the most of your money!
Posted on: August 30th, 2013 by Growth Focus
If you currently have savings in a term deposit or have extra money after your weekly expenses, you may be asking yourself the question, “How can I make my money work for me”?
If you already have savings in a term deposit that’s great, however with the interest rate being relatively low at between 2.5% and 4.3% – you aren’t getting the best return. A recent study showed that with a term deposit investment of $100,000, savers on a 34% marginal tax rate would be ahead by less than $53 at the end of the year after taking into account tax and inflation.
So what’s the answer? Investing in a managed fund. Managed funds have a growth rate of approximately 7.6% to 8% per-annum and are relatively inexpensive to establish and manage – with a minimum initial investment of only $1500.
Whether you already have savings and want to re-evaluate your current position or want to start your investment portfolio, contact us for a complementary consult to discuss your options today!
The returns mentioned in this article are subject to a balanced portfolio and returns may vary depending on market conditions. This article does not consider your specific circumstances. For specific advice you should contact your financial adviser or contact us today.