After you pay off your mortgage

[Yossarian]

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.

I’m in a defined pension scheme (Willow might be the same) which makes things slightly easier to work out.

 

[Tiger-ferret]

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.

Tigers need backers. All the hard work’s done too for the new era. On the up, new logo and all… 😂

 

[Tiger Woods]

All my investments are in the hereafter 😇 🙏 😉

 

[Odessa]

Does anyone invest in Gold at all?

Yeah I do, via physical bullion and via investing in a couple of gold miners on the ASX

If you have a spare 75K get on Sundae swap ISO you will make a mint Velas pad gave returns of times 117

 

[happy_tiger]

Plan is while interest rates are so low to use ...keep my HL at about 3 k and then use to buy a new and used car at real cheap interest rates .......

Don't think leasing is a smart option .....then again probably don't know enough about it either

 

[TillLindemann]

Does anyone invest in Gold at all?

Yeah I do, via physical bullion and via investing in a couple of gold miners on the ASX

If you have a spare 75K get on Sundae swap ISO you will make a mint Velas pad gave returns of times 117

Not sure what that is and I'd be *extremely* sceptical of anything promising such returns, but it's a moot point as I don't have a spare 75k lol.
Slow and steady wins the race, most get rich quick ideas end in tears.

 

[Magpie_Magic]

Asset price returns over the next decade may not match previous decades. Things may get trickier because interest rates relatively speaking will move higher, inflation may be higher and with technology disruption and ESG factors coming into investment we will have to be nimble.
The world's money supply has increased by nearly one third last 12 years, if and it's only an if at this stage because they keep shifting the goal posts re policy this is tapered and reversed bonds will sky rocket and asset classes will be pressured.
Good luck with your choices.

 

[Magpie_Magic]

Does anyone invest in Gold at all?

Yeah I do, via physical bullion and via investing in a couple of gold miners on the ASX

I've been a gold bug myself but seems bitcoin has been eating the heart of of gold lately. I would have thought given the amount of world wide currency debasement gold would have been $3000 US without Cryptocurrencies.

I suppose with bullion you get any benefit from the AUD slidding which it may do if Lowe continues with QE longer then most and Australia is one of the last countries to raise rates.

Some of the larger ASX gold miners look interesting atm. Look like they are making a bottom formation. But they need a catalyst, either gold up, AUD down or inflation.

 

[Magpie1969]

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

Great questions and sorry did not set up post to brag. Unfortunately my Father passed away this year after already losing my Mother years ago to cancer. My brother and I are wrapping up his estate that will provide me with the funds to knock off the remaining two mortgages. I still have 2 school age children and want to work so I can have a comfortable retirement and set my children up. I would like to keep my current 4 properties (3 in Sydney and 1 in Armidale). I feel keeping money in bank account not earning any interest is not a good option hence looking at other options. I have a good Super balance which I put the maximum money into. I live a very modest life. I respect Forum members and your opinions hence the reason for my post to educate my self outside of property and Super. Besides Super never dabbled in shares.

 

[BermiTiger]

If you were looking at some options for producing income with minimal input from you I would look at some Vanguard ETFs. Maybe a 50/50 split between VAS and VGS. Not advice.

 

[happy_tiger]

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

I'm excited ....Ink will almost be my neighbour .....

 

[tigger]

If you can't put more into Super, and you are already well invested in direct property, then the share market is probably the best option in my opinion.
At the moment, the share market is probably towards the upper end of its valuation, but if you have a long term investment horizon (say 10 years plus) then that shouldn't concern you.
If you don't have an understanding of how to select companies in which to invest, then exchange traded funds (ETF's) is a good way to go. (That's not my advice, that's from Warren Buffet). ETF's will instantly give you risk diversity.

 

[happy_tiger]

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

When are we doing Aussie Gold Hunters ??

I'm sure we could add some fun and games ....throw in some paranoia about each of us stealing whatever Gold we found ...priceless lol ....

 

[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.

I’m in a defined pension scheme (Willow might be the same) which makes things slightly easier to work out.

Is that like where you’re guaranteed a certain weekly wage of sorts for a given number of years?

 

[eyewondertoo]

gee.a lot of knowledgeable people on this forum who know stuff i've got no idea on.

my advice is to pay your mortgages off and keep working.The benefits of going to work and being at a coalface cannot be measured.There's only so many days you can play golf.

Having a purpose is a strong motivator for men.With international travel under a cloud for some time,working past the nominal retiring age of sixty is a reality,depending on your work area.
But each to their own- just like the wide variety of opinions you'll find on this forum.

 

[AJ1]

Plan is while interest rates are so low to use ...keep my HL at about 3 k and then use to buy a new and used car at real cheap interest rates .......

Don't think leasing is a smart option .....then again probably don't know enough about it either

Leasing is a difficult one to gauge. Whilst it might work well for some people for others it can be a lot of work for no real gain or to only end up in a worse financial position. It is a good option if you want a new car every year or two or if you work for a NFP organisation however for most people who own a property I'd suggest looking into using their property as security to purchase a vehicle where it's not uncommon to get an interest rate fixed in at <2%. For a $50k loan over 5 years at 2% you're looking at around $2600 interest over the life of the loan. Much lower than an unsecured personal loan and easier to calculate your end position than a leasing arrangement.

 

[Odessa]

Does anyone invest in Gold at all?

Yeah I do, via physical bullion and via investing in a couple of gold miners on the ASX

If you have a spare 75K get on Sundae swap ISO you will make a mint Velas pad gave returns of times 117

Not sure what that is and I'd be *extremely* sceptical of anything promising such returns, but it's a moot point as I don't have a spare 75k lol.
Slow and steady wins the race, most get rich quick ideas end in tears.

Slow and steady you can get one of the big name coins if you want slow and steady and get a safe not gambling 10 to 12 percent return

what i noticed was if you get on the coin when it first comes out thats how you make money

You should get a laptop for coins learn playing with $200 then diced what to do

A mate of mine likes CDT coin every few days for the last 6 weeks it's been going from $1 up to $1.70 up and down he buys at Round $.110 and sells when it's at $1.60

So if he is only is playing if $200 he's making off ok

 

[tiger05premier]

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

My plan is and has always been to pay off more than my monthly amount... and when the loan lessens, continue paying more.

I get paid fortnightly and there's an occasional month where 3 pays fall instead of 2... so that's +1 extra payment.

Chipping away nicely albeit slowly but should be done in 20 years. 15 would be nicer but the hustle continues.

Worth looking at refinancing with your broker every so often so you ensure you have the best deal.

Hi mate, it is worth considering switching to weekly, even if you get paid fortnightly. Over the long term it would save a bit of interest.

Get an offset account

They are amazing

 

[PJ_]

I'll prob drop dead from Tigers angst before I finish paying everything off.
If not, I've always invested in property. My old man has quite a large share portfolio but I don't like the volatility. I buy commercial with existing long leases in place w usually a company that has been around for awhile.

 

[Magpie1969]

Appreciate everyone's input in this conversation and I will be looking into EFTs. Someone mentioned mortgage offset accounts and I have used them for last 20 years and they really do work. Also paying your mortgage off on a weekly or fortnightly basis is another great idea I have used with success. Thank you so much Forum Members.