An alternative to bank interest rates.
Recently we have been getting asked the question ‘What do I do if I have surplus cash’? Although a great position to be in, we cannot provide investment advice and urge all our clients and contacts to consider their options and seek professional investment advice. We can offer insight into what options are out there, but independent research will need to be done to determine what is right for you.
We recently came across ‘Income Generator’ from NZ Funds. From initial information, this looks to be an option for those looking to build up their savings but are wanting a higher return than current interest rates. Investing in the Income Generator fund provides an alternative to investing directly into the share market and invests primarily in NZ and Australian dividend-paying shares, with the goal of passing these dividends on to investors.
You can read more about Income Generator on their website. If you would like to know more about Income Generator and its suitability for you, you are welcome to contact Marc Proctor from NZ Funds. Email him at firstname.lastname@example.org or call him on 09 918 9796.
Also, look at the mySTART product from Craigs Investments Partners. This is great for smaller portfolios and you choose the shares, securities, or funds to invest in from their options. You can contact Tanya Osborne at Craigs Investment Partners for more information on 021 023 35319 or email her at Tanya.Osborne@craigsip.com
An alternative option is Sharesies, where you can invest in NZ or US companies. Set up is easy and there is a small monthly fee of up to $3/month (based on your portfolio value).
Sorted has a good guide on the investing basics and gets you thinking on what you should be considering. Whatever you choose, make sure it’s the right move for you and confirm it with professional investment advice.
Note: This is not an endorsement from Monteck Carter, and we strongly advise those who are looking to invest to research their options and seek professional advice.