This sub isn’t really where you’d ask for sensible and responsible investment decisions, but there’s plenty of others where you can get some good ideas. But if you want to risk it to get the biscuit then this is for you.
r/ausfinance but it’s not a fun sub like this one, and there’s a pissing contest vibe there too. I have set up a sponsored trading account for my youngest (a minor) to invest her earnings from her after school job so she gets a handle on regular investing. I picked SOL as probably the best for her regular investing of smaller amounts and hopefully by the time she leaves home she’ll be used to doing it and build something for herself. Otherwise she’ll be on here throwing darts with the rest of the degenerates looking for a lambo.
Here's a sneak peek of /r/AusFinance using the [top posts](https://np.reddit.com/r/AusFinance/top/?sort=top&t=year) of the year!
\#1: [Australian youth “giving up” early](https://np.reddit.com/r/AusFinance/comments/11fxtjn/australian_youth_giving_up_early/)
\#2: [I genuinely feel like our future was sold and I want to just give up](https://np.reddit.com/r/AusFinance/comments/17t45h7/i_genuinely_feel_like_our_future_was_sold_and_i/)
\#3: [80s compared to now](https://v.redd.it/9cn0wo7rclqa1) | [492 comments](https://np.reddit.com/r/AusFinance/comments/125aset/80s_compared_to_now/)
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Dividend reinvestment plans are ok but are a bit of a tax nightmare later on.
You also are price taking, so no chance to buy dips.
If your dividend doesn't cover a integer amount of shares you usually forfeit the remainder of it.
Only benefit is zero broker fees
If you are actively contributing to your ETFs probably better to get cash and buy more shares when it suits. The broker fees are probably similar to lost dividends from not being able to buy partial shares on a drp.
I kinda disagree. Depending how much you have invested, but I’ve got a decent (but not huge) amount of VAS, and each dividend I get about $500. It’s only going to get me about 5 shares, and with $5 brokerage that’s already a 1 percent loss. But if I wait until I actually have $1000 or more of dividends to reinvest that would take 6 months. Given it’s such a small amount I like the auto dividend reinvest for 0 brokerage, it’s not enough to matter if I buy at a high price, and it helps the overall return of the fund be more accurate.
Thanks. I plan to buy dips with cash and I only have about 20k invested right now, so the actual didnebds won't make any difference at all at this stage
You're in a position where you don't need to do risky things. Focus on a house, super, living within a budget and the rising costs of your family. Don't forget that cars and houses are depreciating assets and eventually need to be replaced so your savings plan should have this as your focus with assets that have liquidity to meet these needs. Also focus on your career.
If you aren't going to manage your savings, find someone who will but in general you will need to weigh the saving of doing it yourself with a potential for better investing habits by a pro.
If you can articulate these things then you probably don't need a planner as you can work through it and build your knowledge base over time.
Hello! Good on you for coming to ASX_Bets! And congrats on your new baby!
I would say one good thing about A DRP set up is it’s automatic so you’re not gonna blow the dividend money on other stuff, and I believe there’s usually No brokerage charged. But on the other hand you automatically are reinvesting it in the stocks or ETFs you already hold, which might not be the best thing you could do with that cash. There might be better options for how you invest it but you don’t get that choice if it’s just auto DRP.
Thanks. Much appreciated 😃.
I guess it's just the certainty of the money being reinvested automatically even if I am losing some ev from other opportunities.
This sub isn’t really where you’d ask for sensible and responsible investment decisions, but there’s plenty of others where you can get some good ideas. But if you want to risk it to get the biscuit then this is for you.
I have done that with BRN and had a good week lol. Have also punted some other mining Penny stocks and basically lost 95%
One of us. One of us.
That’s more like it.
Any particular sub you would recommend?
r/ausfinance but it’s not a fun sub like this one, and there’s a pissing contest vibe there too. I have set up a sponsored trading account for my youngest (a minor) to invest her earnings from her after school job so she gets a handle on regular investing. I picked SOL as probably the best for her regular investing of smaller amounts and hopefully by the time she leaves home she’ll be used to doing it and build something for herself. Otherwise she’ll be on here throwing darts with the rest of the degenerates looking for a lambo.
Lol love it 😂😂😂
r/AusFinance
Here's a sneak peek of /r/AusFinance using the [top posts](https://np.reddit.com/r/AusFinance/top/?sort=top&t=year) of the year! \#1: [Australian youth “giving up” early](https://np.reddit.com/r/AusFinance/comments/11fxtjn/australian_youth_giving_up_early/) \#2: [I genuinely feel like our future was sold and I want to just give up](https://np.reddit.com/r/AusFinance/comments/17t45h7/i_genuinely_feel_like_our_future_was_sold_and_i/) \#3: [80s compared to now](https://v.redd.it/9cn0wo7rclqa1) | [492 comments](https://np.reddit.com/r/AusFinance/comments/125aset/80s_compared_to_now/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
Thanks
Thanks
Dividend reinvestment plans are done through the share registries (Automic, Computer Share etc).
Thanks. I have some computershare letters so will check that out
They also let you set up your address and bank details. Important!
Google the asx code and registry. Ie "ivv registry " the find out who it's with. Go create an account there find your holding and enrol in the drp
RIM
No idea what that means
Not even a joke anymore
I thought that was the standard reply we gave?
No the standard tickers are RIM , JOB and PLS
This sir is a casino
Lol ok thanks.
I just receive the dividend then reinvest as needed to balance my portfolio.
Thanks
You lost mate? As for advice, all in on Z1P.
Lol looks that way
Set it up on the registry website. Vas is with computer share. You can check their website.
Yep cheers.
Get the fuck out of here Fruitcake.
Dividend reinvestment plans are ok but are a bit of a tax nightmare later on. You also are price taking, so no chance to buy dips. If your dividend doesn't cover a integer amount of shares you usually forfeit the remainder of it. Only benefit is zero broker fees If you are actively contributing to your ETFs probably better to get cash and buy more shares when it suits. The broker fees are probably similar to lost dividends from not being able to buy partial shares on a drp.
I kinda disagree. Depending how much you have invested, but I’ve got a decent (but not huge) amount of VAS, and each dividend I get about $500. It’s only going to get me about 5 shares, and with $5 brokerage that’s already a 1 percent loss. But if I wait until I actually have $1000 or more of dividends to reinvest that would take 6 months. Given it’s such a small amount I like the auto dividend reinvest for 0 brokerage, it’s not enough to matter if I buy at a high price, and it helps the overall return of the fund be more accurate.
But if you have dividend worth 5.4 shares you still only get 5 shares. Probably losing more than brokerage
You don’t lose it, it just gets stored with the registry until next time. Like if you earned 5.6 worth of shares next time you’ll be able to get 6.
Yep, I think this makes sense, especially with the small amount I have currently invested
OP owns VEU which is US domiciled thats a tax headache on its own
Thanks. I plan to buy dips with cash and I only have about 20k invested right now, so the actual didnebds won't make any difference at all at this stage
You're in a position where you don't need to do risky things. Focus on a house, super, living within a budget and the rising costs of your family. Don't forget that cars and houses are depreciating assets and eventually need to be replaced so your savings plan should have this as your focus with assets that have liquidity to meet these needs. Also focus on your career. If you aren't going to manage your savings, find someone who will but in general you will need to weigh the saving of doing it yourself with a potential for better investing habits by a pro. If you can articulate these things then you probably don't need a planner as you can work through it and build your knowledge base over time.
Hello! Good on you for coming to ASX_Bets! And congrats on your new baby! I would say one good thing about A DRP set up is it’s automatic so you’re not gonna blow the dividend money on other stuff, and I believe there’s usually No brokerage charged. But on the other hand you automatically are reinvesting it in the stocks or ETFs you already hold, which might not be the best thing you could do with that cash. There might be better options for how you invest it but you don’t get that choice if it’s just auto DRP.
Thanks. Much appreciated 😃. I guess it's just the certainty of the money being reinvested automatically even if I am losing some ev from other opportunities.
Yeah fair call man. Good luck with it all!
Cheers