After you pay off your mortgage

[240z]

It might sound weird but I invest in rare coins/banknotes and war medals

Its a hobby plus an investment

Not weird at all, very interesting.

Advantages of investing in rare coins and banknotes

Rarities are non-taxable while held
Not subject to daily price fluctuations resulting from economic volatility
A discreet form of wealth – no title deeds, share certificates or registered documents of ownership required
Highly portable, easily stored and maintenance free
One of the biggest collector-based markets in the world

Returning around 14% per annum over the last 12 years

 

[Magpie1969]

Does anyone invest in Gold at all?

Mate, I hope you're investing in good health so you can enjoy the benefits you've accrued.

Definately. Health is number one. Office job most my life so have had it easy. Want to travel once retired.

Does anyone invest in Gold at all?

Mate, I hope you're investing in good health so you can enjoy the benefits you've accrued.

Yes health comes first

 

[GCfan]

What's your salary sacrifice limit, out of curiosity?

I thought the the most concessional super you could put in per FY was $27.5k which would be for both employer paid and salary sacrificed combined

 

[Magpie1969]

What's your salary sacrifice limit, out of curiosity?


I thought the the most concessional super you could put in per FY was $27.5k which would be for both employer paid and salary sacrificed combined

Correct

 

[jirskyr]

I look forward to paying off my mortgage in about 100 years.

 

[Magpie1969]

I will look into EFTs.

 

[TillLindemann]

Does anyone invest in Gold at all?

Lol, strange timing. Yes, I have.

ETFs are the easiest way.

Nothing wrong with ETFs, I hold a couple (RBTZ and HACK), but generally my preference is to hold specific companies directly yourself, as you are not paying fees to a middleman.

 

[Demps]

I look forward to paying off my mortgage in about 100 years.

😂

Then you can take a holiday.
I see people holidaying all the time and in like awhhh... but then I remember.
They either live with their parents or rent.

 

[Guest]

I figure I've got another 16 years of work left - should be mortgage free at that point and with the super scheme I'm on, life should be comfortable.

 

[Magpies1969]

I figure I've got another 16 years of work left - should be mortgage free at that point and with the super scheme I'm on, life should be comfortable.

Good on you Willow. People don't plan to fail they just fail to plan.
I had some luck in life and also good timing with buying real estate at right time.

 

[Aesopian]

Just don't go spending all that retirement coin on silly things like caravans.

Those "Grey Nomad" pelicans clog up the freeways and have no idea what they're doing.

PUNT them all...

 

[batboy]

Looking at options after paying off all my mortgages. Already salary sacrificing to allowed limit and Super doing well. Looking for options. I am 52 looking to retire in 6 years. Thoughts.

Haha - After having different ones for 20 odd years... I got fed up with it and smashed it out over a couple years with a view to be mortgage free for a while.... In the end, It felt weird so I went and got another for an investment property...
Now I'm safely booked up for another 20 odd years.

Enjoy the fruits of your labour mate - You've certainly earned them.

 

[innsaneink]

I get the 15 year long service in 18 months, probably pull the pin then will likely sell here and buy somewhere up the gold coast or sunny coast.
We have land in Palawan, gunna build a place there when the missus sells her place and will split probably 60/40 Aus/Palawan

 

[nrlsurvivor]

Demps. Limited to $27500 for Super including 10% from Employer. At end of year will own all 4 houses debt free.

Magpie, firstly I’ll preface this by saying I’m not a finance or property expert, but going off some of the stuff I’ve read about property, if you own 4 houses debt free (or even with a little bit of debt) then you could possibly use those to fund your retirement (depending on the total value and whether you use them as investments). The theory a few years back (pre banking royal commission) was that if you own $4 million worth of investment property, with $2million or less in loans then you have a self funding property portfolio. The bank would then lend you 100k per year to retire off, knowing that the value of your portfolio would increase by more than 100k each year… Others on the forum may know better than me about the merits and risks of such a strategy or whether the banks have stopped doing this?

 

[claws1]

Legitimate question. With a portfolio as large as yours, and declaring numerous applied strategies, why are you asking people on this forum for financial options? This is like Penrith asking the Bulldogs for advice. Go Weststigers!

 

[innsaneink]

I wouldnt trust Terri Sheer...lame ads

 

[tigerbalm]

Does anyone invest in Gold at all?

Gold mines!

 

[hobbo1]

Legitimate question. With a portfolio as large as yours, and declaring numerous applied strategies, why are you asking people on this forum for financial options? This is like Penrith asking the Bulldogs for advice. Go Weststigers!

Some like to brag I guess

 

[GCfan]

I figure I've got another 16 years of work left - should be mortgage free at that point and with the super scheme I'm on, life should be comfortable.

Ahh, the old how much super is enough for retirement conundrum. I still don’t understand that one.

 

[frullens]

Looking at options after paying off all my mortgages. Already salary sacrificing to allowed limit and Super doing well. Looking for options. I am 52 looking to retire in 6 years. Thoughts.

Happy to take some cash off your hands if you're looking for options 😉

As a millennial, who has had to buy into the housing market after its boomed, with 3 kids and one one income - i can only dream of paying off my mortgage.

But seriously, sounds like you're in a great position - my advice would be to enjoy life and to share your good fortune with those you love.