Inherited $5000, wat do do? (3 Viewers)

[soha]

Is currency exchange opposed under Islam?

no
its not..not that i am aware of neways

 

[fatmuscle]

wow investing money turned into some religious talk?

btw, someone mentioned the super co-contribution was a bad option

with NPV, and the interest ur gaining on the super, it isn't a bad option.
Obviously if you don't have that money to invest, DON"T DO IT. It's not the best deal for everyone with $1k

 

[_Bushra_]

I've got the pitiful amount of $397.94 in the bank

oh the sadness...I havent had that little money for so long!

 

[hiphophorray123]

just because YOU cant see how its wrong
doenst mean ist not wrong
to me its wrong
to you its ok
etc...

i swear your views are so fucking stupid.

i understand why someone would see interest as wrong, i understand why someone would have such a view, but to a realist, its fkn stupid.

 

[soha]

hello..she bases her life on the moral views of people who lived two and a half thousand years ago.

I don't think she is particularly caring about common sense.

Banks use the money you give them to invest. You, in return for lending it to then, get paid interest.

You are loaning the bank money. So, you are an evil banker.

Do you store money in the bank? Also, point me to the section in the Koran outlawing this would you. It will be interesting to see if it is actually from the Koran or a false prophet (aka priests).

Plus islam means no we. The entire point of your religion is that the only authority is God, and you must interpret his word. No one else can tell you how to live.

Back on topic, $5000 really isn't that much. If you are up to taking risks place a bet on the NRL or rugby union.

to progress in life..to move forward.. i feel i need to look back
its my life..and i love it and i am soo happy
isnt that all that matters?
im not hurting anyone..?

 

[soha]

i swear your views are so fucking stupid.

i understand why someone would see interest as wrong, i understand why someone would have such a view, but to a realist, its fkn stupid.

please spare me
i dont need to sit here and hear about how u think my views are stupid
i dont give a shit about your views on my views
its my life and i live it how i want to
with or withour interest
and we do use interest..just no more then 2.5%...
and when i live in a country like australia i have no choice but to do what australians do..and their banks do
i might not like it..but until they make a muslim bank..i have no choice

 

[hiphophorray123]

there's a muslim bank in bankstown near the train station i think. If you don't want to make money then go there.

i get like 5.4% interest p.a compounded monthly from ING which equals to a couple of grand a month....am i going to hell?

 

[soha]

there's a muslim bank in bankstown near the train station i think. If you don't want to make money then go there.

i get like 5.4% interest p.a compounded monthly from ING which equals to a couple of grand a month....am i going to hell?

i already make money
i have 2 jobs
i dont need to sit my money in the bank and have it grow on interest
i dont know if your going to hell
only God can judge you

 

[hiphophorray123]

so what you're saying basically is making money by having it grow in the bank, even though it is perfectly legal, is wong and you're totally against it? Oh, but wait as long as it's under 2.5% you're cool with it? Fuck, if you islams don't want interest at all they should take it all away and add onto our accounts.

do you actually know anything about interest anyway, it's like you're loaning the bank money and THEY are PAYING YOU BACK INTEREST. They invest the money you put in, they make a profit, pay you back a percentage.

Someone in islamica musta known something about interest.

Now i understand why they aren't too well off

 

[shady_03]

Hey guys, a close relative recently passed away, and as a result i inherited $5000, now i put it all into my ING a/c, but dont want it all to stay there, i wanna spedn $2000 of it in investments, but not sure the ebst options? shares r risky...

The stockmarket is very risky, especially if you have little knowledge of it, as different anouncements cause the share price to fluctuate. Depending on the company, $2000 can buy u alot of little shares (that never move) or a small amount of big one (and with the small amount = small gains). So i think that ur best option is definately not the stock market.... like 2day outta no where shares in channel 10 dropped 21c from $4.20 to $3.99. Its very volatile and not really safe.

 

[soha]

yeah, koran references please. explicit references too not guessing what God kinda meant.

okay
well im off to have dinner
then i will come back and explain it

 

[soha]

http://www.inter-islam.org/Prohibitions/intrst.htm

this is a good site in refernece to interest/ursury/riba in islam
read the whole thing in order to understand it properly

 

[hiphophorray123]

In the next verse verse 276 in the same place he says,

"Allah will deprive usury of all blessing, and will give increase for deeds of charity, for he does not love any ungrateful sinner."

Two verses later in verse 278 he says,

"Oh you who believe! Fear Allah and give up what remains of your demand for usury if you are indeed believers."

allah is such a great leader

 

[doe]

The stockmarket is very risky, especially if you have little knowledge of it, as different anouncements cause the share price to fluctuate. Depending on the company, $2000 can buy u alot of little shares (that never move) or a small amount of big one (and with the small amount = small gains). So i think that ur best option is definately not the stock market.... like 2day outta no where shares in channel 10 dropped 21c from $4.20 to $3.99. Its very volatile and not really safe.

buy an index tracker. todays fall surprised noone who has been paying attention to the markets. you should buy shares for the long term, and not worry about the day to day fluctuations.

instead of calling it interest they should be called FREEDOM DOLLARS!!

 

[loquasagacious]

Term deposit is bad, intertest is poor access is limited.

Managed fund is about the best option. Look for no entry and exit fees a proven track record and a range of investment strategies (by the sound of it neutral would be good for you).

 

[doe]

Managed fund is about the best option. Look for no entry and exit fees a proven track record and a range of investment strategies (by the sound of it neutral would be good for you).

may i reccomend vanguard http://www.vanguard.com.au/Personal_Investors/Investor_Funds/Fund_Performance/

 

[Shuter]

http://www.inter-islam.org/Prohibitions/intrst.htm

this is a good site in refernece to interest/ursury/riba in islam
read the whole thing in order to understand it properly

I didn't see any referance to 2.5% there?

Infact to me that section of the koran seemed to more be saying "if you have spare money that you could put in a bank, do not, this means you have excess money and instead you should give it away/to charity, instead of hoarding it and letting it grow (through perpetual saving), and depriving others".

 

[soha]

I didn't see any referance to 2.5% there?

Infact to me that section of the koran seemed to more be saying "if you have spare money that you could put in a bank, do not, this means you have excess money and instead you should give it away/to charity, instead of hoarding it and letting it grow (through perpetual saving), and depriving others".

it doenst specifically say 2.5% but there is 4 schools of thought
and my school of thought goes by 2.5%
and it speaks about the schools of thought(mathhabs) and it speaks about the extremely low percentage of interest just coz it doenst specifically say 2.5%

yes give your money to those who need it more then you
i think thats the best thing anyone could do

 

[_Bushra_]

Fuck, if you islams don't want interest at all they should take it all away and add onto our accounts.

Its "Muslims" my dear

 

[hiphophorray123]

yes give your money to those who need it more then you
i think thats the best thing anyone could do

yeah that's real fucking smart you stupid bitch.

fuck allah and fuck you thanks for the rep though.