Hi I was wondering if you could give me some options regarding my current financial situation?

So I'm currently 19, studying full time at uni and casually employed at McDonald's (earning about $200-300 a week)

My main question is should I save up 10K to invest in Vanguard (VAS/VGS/VGE) or should I put my current savings in a HISA like ING. I currently have 1.5K in my NAB savings account and about $300 invested in Acorns. Thank you.

Hi Martin,
I would say both! Move the $1500 to a high interest account now and keep saving to get yourself to $10,000
I’m not an adviser, so what you do with the $10,000 will need to be discussed at that time with somebody who can explain more about your options.
Well done to be making plans
Cheers
Scott

Hi Martin,

As above, both is a good idea.

You should keep some cash savings in case of emergency but also do some investing at the same time. Your Acorns account is a great place to do this.

I imagine saving up $10k will take you a while. That’s lot of missed time that your money could be working for you in something like the Acorns account.

At 19 the greatest asset you have ahead of you is time. As I say to all my clients: start small, start now & make it regular. Then just let the compound effect work for you.

Best of luck.

James