Aussies: I have inherited $45,000 dollars - is there an easy way to make about $10 000p.a. from that money?

The thing is I intend to study full time this year but because of this inheritance I don't think I'll be eligible for Centrelink payments, but I don't want to just use that money for living expenses because that's a total waste! So I was just wondering if there is an easy way to invest that money which will result in a guaranteed minimum $10,000p.a. income? Thanks : )
PS I know nothing about this kind of thing so please explain things clearly, thankyou !!

Well, I don't know what banking is like in Australia (I'm in the U.S.) and it won't make you $10,000, but what we did with our son's college fund was put it in a Certificate of Deposit (CD). The longer you can leave it in there, the higher the interest rate. It is still a very low interest rate compared to, for example, investing it long-term in mutual funds, but it is guaranteed, which is important if you are depending on that money for college.

He is in his second year of college now, and we had the money in a CD for about 4 years before that, from the time he inherited it. Once he started college, we split it up, used 1/4 of it for his first year, invested 1/4 in a one-year CD, and invested the other 1/2 in a two-year CD.

As I said, the interest rate is not very high, but on the other hand, there is absolutely no risk. I honestly don't think there is any investment you can make - safe or not - which will bring you $10,000 per year on $45,000. Even the stock market only averages 10% - and that's over a long period of time, not just a few years. Yes, you could win big if you pick the right stocks - but in the short term, you could lose big, too.

Good luck!

Dont inverst in anything nigerian lol!...

I don't know much about finances but the small bit i do know is don't put all your eggs ( money ) in one basket because you may lose the lot!!
& I'm a safe person as well I don't like (risky) maybe thats why i'm not rich lol
centrelink has a finance officer who will help you with investing ideas
so has the commonwealth bank & they are both free advice
& also don't trust your cash with strangers on the net

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