A family member is in (South) Australia and saving 10% of her salary, which I got all my children to do since they were getting pocket money. Those in Japan are investing in SBI like their parents, but the one in Australia is just putting it in the bank, not knowing what else to do. Do any Australians have advice on which FI she could put the money in? Quick research brings up names like PAXO but I have no idea of their credentials. I know nothing is 100% safe, but I feel confident with SBI here in Japan. Are there any equivalents in Australia? I guess they are all private companies here anyway, but presumably with certain accreditations.
Regarding funds, ideally I would like her to start investing in the equivalent of the eMaxis Slim All Country stock index fund. Are there equivalent in Australia? I have never bought ETFS; not sure exactly what they are so couldn't advise her on those.
SBI etc. equivalents in Australia?
Re: SBI etc. equivalents in Australia?
Vanguard is popular in Australia.
Re: SBI etc. equivalents in Australia?
Many thanks. That's somewhere to start! I was getting swamped. Excuse my ignorance but I assume you mean directly with Vanguard (www.vanguard.com.au)? All I have experience of is buying eMAXIS at SBI.
These seem interesting:
Vanguard MSCI Index International Shares ETF (VGS) [ex-Australia]
Vanguard Australian Shares Index ETF (VAS)
Australia accounts for 2% of global stocks but since she's there, I guess 5% of that would be a good idea.
They don't seem to sell Vanguard Total World Stock (VT)
These seem interesting:
Vanguard MSCI Index International Shares ETF (VGS) [ex-Australia]
Vanguard Australian Shares Index ETF (VAS)
Australia accounts for 2% of global stocks but since she's there, I guess 5% of that would be a good idea.
They don't seem to sell Vanguard Total World Stock (VT)