FF:QLD Financial Situations

I suggest you read a book called "The Richest Man In Babylon", by George S Clason. Then the first 3 Rich Dad Poor Dad books. Then take out a subscription to Shares and Personal Investor. Then do a undergraduate and graduate Diploma of Financial Markets at the Securities Institute. Then get back to us.

But I have read Rich Dad, Poor Dad, CCD, and yes those are good magazines but at the moment I'm just reading books from the library (some by that investment guru Noel Whittaker )

Oh, and you don't need to be an expert with a high education to be a good investor...

Here's a good site: http://www.slq.qld.gov.au/publib/money.htm

Oh, and guess what... I just emailed the Reserve BAnk about government bonds

 

And I'm sure they will consider yours as much as the other few million they get everyday.

 

This is about informantion, Grieyls, so mind your cynicism!

 

Furthermore, just for everyone who may glance at this thread even with just passing interest, I shall enclose the reply to the email that I sent to the RBA on the 20th of December 2002...

From "KENNEDY, Scott" <KennedyS@rba.gov.au>
Date Wednesday, December 18, 2002 4:19 pm
To "'s4042659@student.uq.edu.au'" <s4042659@student.uq.edu.au>
Subject Government Bonds
Counter Services
Reserve Bank of Australia
SYDNEY

Dear David,

I refer to your e-mail message of today, concerning information on purchasing government bonds.
Please note, much of the information provided is of a general nature, due to the fact that the Bank does not provide any form of investment advice. For this reason, we encourage prospective purchasers to obtain their own independent investment advice, in order to determine the appropriateness or otherwise of these investments to their own personal circumstances
In relation to Commonwealth Government Securities (CGS), there are no public issues available at 'par' (A$100 for A$100 face value). The Reserve Bank does, however provide a Small Investor Facility, whereby it buys/sells CGS from its own portfolio at (secondary) market related prices.
As prices vary from day-to-day and sometimes during the course of a trading day, it is important to note that quoted prices are indicative only. The price at which securities are sold is the Bank's price at the time that satisfactory documentation and sufficient funds are received by the Bank, for settlement to be effected.
Applications for securities must be for a minimum of A$1,000 (face value) and in multiples of A$1,000 (face value) thereafter. There is a daily limit of A$100,000 (face value) per investor, all series combined. The Bank makes an administrative charge of A$2.50 per A$1,000 face value. Quoted prices exclude the administrative charge.
The Bank offers two types of securities for sale through the facility; Treasury Fixed Coupon Bonds and Treasury Capital Indexed Bonds:
Treasury Fixed Coupon Bonds, pay interest on a semi-annual basis at the prescribed coupon rate. At maturity, the face value amount is repaid.
Treasury Capital Indexed Bonds, pay interest at the fixed coupon rate on a quarterly basis, however this is based on an adjusted capital value. The capital (principal) is indexed on a quarterly basis to inflation. At maturity, investors receive the inflation adjusted capital value of the security - the value as adjusted for inflation over the life of the bond.
The Bank's quoted prices include accrued interest. The quoted yields assume that the bonds are held until maturity. If the bonds are sold prior to maturity, it is possible for capital gains or losses to result from the sale. Furthermore, the yields are 'effective yields'. By this, it means there is an assumption made that you are able to reinvest your interest at the same coupon rate until maturity.
Payment of interest and repayment of principal are by cheque (posted), in Australian Dollars, drawn on the Reserve Bank in Sydney or they can be credited to an Australian Dollar account in Australia. Where a payment date is a non-business day, the payment date is made on the next business day.
The Commonwealth Inscribed Stock Act and Regulations there under, prescribe who is eligible to hold CGS. Essentially eligible holders are:

1. Individuals (who have attained 16 yrs of age) - either solely or jointly with up to three other individuals;

2. Corporate Bodies;

3. Unincorporated Associations, Friendly Societies, Trade Unions with written constitutions or Rules of Association; and

4. Trustees may apply in their capacity as trustee, i.e. superannuation funds. However, in terms of the Act & Regulations, the trustee will be deemed the owner of the stock.

Should you require further clarification or have specific requirements with regard to a particular entity, please contact our Customer Service staff on 1800 817 629 or by e-mail to registry@rba.gov.au for further information.
In relation to purchasing bonds, payment must be made in Australian Dollars. Payme

 

Want to condense that down so we don't have to read the whole thing?

 

So that's the thanks I get

 

I wasn't thanking anybody.

 

I am currently investigating:

Mortgage Trusts
Government Bonds
Managed Funds
Property

I think the results of my findings may in fact be very interesting.........

 

Uh huh.

 

The tide is turning my friends.........

As you may know, MONEY = POWER, and thus an increase in money is an increase in power

So who will become the most powerful?

he he, I feel so evil

 

Invest in JP.com, trust me one day that domian name will be worth a million bucks .

 

The money power thing is just a delusion. There is no power there really... Come to think of it any sort of power is a delusion, it can be taken from you so quickly and with out warning in so many ways. The end result never pretty.

 

From what I've seen, people with power tend to accumulate money, not the other way around. They generally attain that power through knowledge, as the saying goes.

I commend your efforts to try to make money Nyder, just don't miss out on the rest of what life has to offer while you are doing it.

 

Sounds as if he is going to anyway.

 

The money power thing is just a delusion. There is no power there really... Come to think of it any sort of power is a delusion, it can be taken from you so quickly and with out warning in so many ways. The end result never pretty.

Ok, where's your evidence for this, oh wise one And why do anything, If you're not prepared to take a risk....


From what I've seen, people with power tend to accumulate money, not the other way around. They generally attain that power through knowledge, as the saying goes.

Too true, Otter, you need knowledge to gain power, but what kind of knowledge I wonder?

 

And I'm at $3600 now.....

My first goal is $5000, then $10000 and ultimately $100000, and I will go from there....

Yes and I would reach it sooner if I didn't have to get my car repaired.........

 

Monetary fulfillment is as good a goal as any...
I hope you reach your savings targets Nyder, I really do.

However, when you reach your monetary goals... all you will be is wealthy.
Now if being wealthy is the sole element to what makes you happy, then you will be happy...
otherwise you'll have a few other things to think about.

 

Let me ask you this question, casual Jedi:

What does being wealthy allow you to do?

 

Well it can be fantastic and make you feel free but more often than not it ends up in stress and early death, living in fear of losing it or having it taken from you.

 

Nyder, I'm not sure any of us begrudge you your goals. You certainly seem to have a determination that I for one admire.

Maybe some of us warning you are not as wealthy as we expected to be, or have the jobs we always dreamed of. I think alot of us know that we could have had that if we really put all our efforts into it as you want to do. Maybe we are a little sad that we didn't.

We don't pretend to be wise, or all knowing. God most of us aren't over 30, what do we know really. I just think that we are saying, be prepared to be flexible, allow yourself to experience other things, enjoy the life that you plow through to get where you're going. Maybe you will have all the things that make us happy, AND wealth, and then we'll shut-up

 

...what does being wealthy allow you to do?

It allows you to spend...
but you're missing the point Nyder, wealth brings with it a whole paradigm of unique problems. Suddenly people 'become' your friends, seeking a favour here and a favour there, until the line between a true friend and a hanger-on is blurred.

An addiction to money is like an addiction to anything else; no matter how much you have of it, you'll everlong crave that little bit more. Now it's very well to say that I'll worry about those problems when I'm rich... but the truth is, the seeds to those future dilemmas are sown today, and there will be no lending institution that can assist you if you find yourself short of the 'emotional currency' one needs to see off these problems.

 

It's hard to be happy with no money but even harder with no friends.

 

Aint that the truth.

 

Nyder, I reckon you'd cop less flack over this if you used the word "assets" over "money".

I think it is very admirable to be financially secure at a young age, and I think that's what your main goal is. Of course, you may just want to dine on Giant Panda noodle soup!

 

You're all so negative aren't you?

I just want to be relatively young and financially secure.. therefore I have to start saving as early as possible... the same goes for everyone else............ if they are really serious about financial freedom......