The thread about how much money do you have in your everyday account got me thinking - because so many people mentioned they keep minimal cash in their everyday account but rather have a lot in savings and/or investment accounts.

My question is - the savings accounts here in Australia are pretty trash.

And Term Deposits are a downright joke.

Do we have a version of Ameribrahs 'investment accounts'?

Or are they simply saying they've got money tied up in stocks/shares that they've personally bought into?

What do Aus brahs suggest regarding money?

I keep my every day spending money in just my wespac account, I never let it exceed 5k, any run off gets sent to savings.

I used to use uBank for savings because it had an interest rate of 2.8% back in the day but that's well down now. I keep my savings in my mortgage offset account, so instead of earning 1.8% in interest and paying tax on it, im saving whatever my mortgage rate is (2.25% or whatever).

I keep 30-50k in savings and the rest goes into stable high dividend stocks like Westpac (dividend is currently around 8% ROI)

Damn boi, $80k/p.a. for $1 mil in the high dividend. Myrion Lannister if you could live off $40k and put the rest back into it for dat dere compound.

Going to be stupid questions so apologies in advance.

How much did you invest the very first time you bought shares?

What do you do with them? Buy the shares (say westpac for example) and just sit on them for 'X' amount of years?

I really goofed - when I was researching building a gaming PC late last year I was reading how AMD was about to take over the CPU world from Intel. And read someone suggesting that their share price would be $70 by the end of 2020. It was $44 or so at the time... It's now at $80.

I missed the boat bigtime on that.

But I wouldn't know what to do once I bought those shares. Are you looking every day as to cash out and sell?

I've been an idiot financially in the past. Feels terrible now man.. 32 and I've paid off my final $22K in debt (don't have a mortgage... forever renting with my brother crew)

I've got just under $10K at the moment but I don't just want it sitting in a savings account do absolutely nothing for me.

I dont sell and the dividends I get paid just get reinvested. I usually buy in 5k lots to avoid paying trading fee's.

Its never too late to invest. Especially now since covid smashed everythjng down go 2009 prices