I won a small amount on a lottery -but I know nothing about money

[Taylor Campbell]

You really do need to get in touch with me personally if you want to see your money grow in the thousands and more. PM me, please!

 

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[theag]

You really do need to get in touch with me personally if you want to see your money grow in the thousands and more. PM me, please!

Yeah sure..

 

[Kak]

Most banks in Australia will give you 5% annually, as long as the account is under (most commonly) $500 000 - $1 000 000, not helpful for fastlaners I guess but handy for someone who came into a lump sum of money. I know this is not useful information for the OP but I just thought I would mention it as I was shocked to recently discover the low rates offered by banks in the States, UK etc are. Obviously the cost of living is lower in other developed nations.

I will need to look into this. Do you know the actual interest rate when consideting inflation rate against the USD?

 

[The-J]

All I know about the Australian dollar is that MJ invests in it for cashflow purposes. Other than that, I don't know.

 

[Kak]

If that is the case, then you could go above and beyond just holding the currency and make the 5% as well.