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Ask Leon Your Own Question
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 42951
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I need to invest my funds so as obtain a return of 5% plus

Customer Question

I need to invest my funds so as obtain a return of 5% plus safety of capital I do not trust the stock market, to unstable. Am 87 years old and need to preserve my funds. I live in an aged care home
and am about to lose my pension due to change in assets test. Can you offer any suggestions ?
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Afternoon

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

I am a solicitor and cannot provide you with financial advise. But 5% return is very good

You should speak to a financial adviser, that is independent not part of the banks, so that you get balanced advise on various investments.

UBANK have good interest rates at call but not 5%

https://www.ubank.com.au/transaction-accounts

Customer: replied 1 year ago.
I understand that as you are a solicitor you are not able to give me financial advice but appreciate you telling me about U Bank. I was under the impression from the newspaper article that the website was connected to people from the Financial Planning Association.
Expert:  Leon replied 1 year ago.

Not in Australia

They are foreign ones and they cannot really assist with investing here.