Are you saving money, as in cash, or do you invest in property or shares? When I was younger, I never thought about investing. I just 'saved' in order to spend, for a car or a trip or something. Now that I think about it, it makes more sense to invest when you are younger and save when you are older.

Well, you could consider savings as just an ultra low return investment if you're meaning savings as like in a normal bank account.
Best to keep that minimal and even if you're saving for a car which depending on value could take a while, put as much of your savings in at least term deposits - even if you have to access, there are some that allow access to a certain % without loss of higher interest.

I used to do the same thing, save (or have a low-return investment) for something, but not set anything aside for the long term. Now I try to split it. Can't say I ever saved for a car, though, except to come up with enough cash to keep the payments nearly reasonable.

If you have been investing in property and shares the last few years in Australia, you have probably done well to increase your wealth.

The problem now it seems that the share and property market are both at all time high leaving not much to invest in Australia at the moment. I think more Aussies are looking abroad for cheaper investing options.

I would love to hear what people have been investing in overseas lately.

I read that a lot of people from Ireland and England are investing in property in places like Bulgaria. It's apparently a bit risky, but at least it's possible to buy property there without being a multi-millionaire (in pounds, no less!).

Right now I'm just trying to accumulate cash. I want the option of taking some time off. I'm not sure I want to take a break, but I want to know it's an option.

The standard line is that you need at least three months' pay in the bank, a minimum of 10% a year set aside for retirement, and then you can save for vacations, cars, house down payments, etc.

That never made sense to me, though. I can see the emergency fund, but buying a home should be way up there in priority.

My criteria are different. Two months expenses to cover me when I get back. Airfare to Hong Kong. Travel money for three months. New camera.

Its about timeframe : if you might take off next year for a trip save in a bank. If you are saving for retirement 5+ years away invest in shares, property whatever. Australians over 50 have the extraordinary option to put up to $100k away per year in super and only be taxed at 15% if you leave it there until 60 - hard to do better than that really!

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Lis Moving to Australia

I have over 60k in savings in just a bank account. I really should do some research on what investments can get me a higher return. I know there's a massive range I'm just kind of skeptical on the risks.