What would you do to become debt free?

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Mattblack
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Re: What would you do to become debt free?

Postby Mattblack » Wed Jun 13, 2018 10:32 am

Feel sorry for anyone trying to enter the property market, but if it becomes less attractive to buy an investment property, rents will increase...those avocado eating millennials just cant win. I think if you do the calculations, generally speaking it works out better in the long run to pump as much as you can into your superannuation



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bowl
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Re: What would you do to become debt free?

Postby bowl » Wed Jun 13, 2018 10:38 am

Mattblack wrote:Feel sorry for anyone trying to enter the property market, but if it becomes less attractive to buy an investment property, rents will increase...those avocado eating millennials just cant win. I think if you do the calculations, generally speaking it works out better in the long run to pump as much as you can into your superannuation

My dad would beg to differ, GFC cost him heaps n
he had to work another 5 years or so

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Re: What would you do to become debt free?

Postby Texas » Wed Jun 13, 2018 10:54 am

My plan is, get rid of 2 adult children, in 2 to 3 years.
Retire & sell, move to South Gippsland or stay where we are and rent out the unit in the back yard.
I had nothing but trouble with investment properties.

I have been working 4 days on and 4 days off, for over 30 years
Easy on a 7 day roster

Cheers Gra

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Re: What would you do to become debt free?

Postby rb85 » Wed Jun 13, 2018 10:56 am

bowl wrote:
Mattblack wrote:Feel sorry for anyone trying to enter the property market, but if it becomes less attractive to buy an investment property, rents will increase...those avocado eating millennials just cant win. I think if you do the calculations, generally speaking it works out better in the long run to pump as much as you can into your superannuation

My dad would beg to differ, GFC cost him heaps n
he had to work another 5 years or so


This happened to a lot of people salary sacrifice into super is still one of the best tax reducing investments.
A lesson learnt from the GFC would be to change your investment strategy a few years prior to retirement.

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Re: What would you do to become debt free?

Postby phil1818 » Wed Jun 13, 2018 11:10 am

If you can’t afford a .25% interest rate your a moron for getting into that situation.. news flash it’s gonna rise and house prices do fluctuate no doubt but in the end it always rebounds and increases, been happening since time began.. millennials p1ss me right off get off your arse stop wasting money and save save save this argument of being to hard to buy a place is b******* it’s been going on through generations! Before you pile into me I am a millennial and iv managed to do it and with no help from parents
Last edited by phil1818 on Wed Jun 13, 2018 11:11 am, edited 2 times in total.

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Mattblack
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Re: What would you do to become debt free?

Postby Mattblack » Wed Jun 13, 2018 11:10 am

bowl wrote:
Mattblack wrote:Feel sorry for anyone trying to enter the property market, but if it becomes less attractive to buy an investment property, rents will increase...those avocado eating millennials just cant win. I think if you do the calculations, generally speaking it works out better in the long run to pump as much as you can into your superannuation

My dad would beg to differ, GFC cost him heaps n
he had to work another 5 years or so

Share market pretty much goes up and down in a regular manner over a long period of time... Generally speaking, if you're old you should be in low risk shares, if you young you should have high risk. Super works out better because of the tax advantages
dow-jones-100-year-historical-chart-2015-08-07.png



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Re: What would you do to become debt free?

Postby phil1818 » Wed Jun 13, 2018 11:19 am

Not to mention most millennials want to live in the same suburb as their parents which most of the time is unrealistic, move further out and buy a cheaper place like every other generation has had to

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Re: What would you do to become debt free?

Postby smile0784 » Wed Jun 13, 2018 11:40 am

rb85 wrote:Without going down the path of personally talking about anyones individual circumstances it's got me stumped why people are in debt to not only have their primary place of residence but then another investment property or 3 on the side. Being in so much debt must not be good for peoples stress levels etc.

Any decision to relocate is obviously a personal one with many factors to consider but little to no mortgage is always a plus lets face it life is for living as much as you can.


well if you had the chance for some else to pay off your debt would you!!

that's just smart thinking isn't it.
you could say that your helping out those less fortunate that are unable to buy a house so your giving them a chance live somewhere since public housing waiting list is shocking.

whats the alternative
add to the 110,000 homeless people that live on the street.

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Re: What would you do to become debt free?

Postby smile0784 » Wed Jun 13, 2018 11:50 am

cobby wrote:More to it than that.

Employment. Unless you're highly qualified in specific areas (teaching, social work, natural sciences, justice system, agriculture) there's not a lot of solid meaningful work, and what is is highly contested and the usual retail/sh*t kicker casual roles.
Entertainment for the family. Face it, there's 2/5ths of stuff all outside of fishing and slightly closer proximity to the alpine region. And no matter how much you spin it it's not for everyone's missus or kids.
Services to the house. All well and good having a brand new house build, but not all are connected to sewerage nor have gas. A lot are on fixed wireless internet which isn't all that flash.
Distance. Between lakes and Bairnsdale is 30 minutes, another 25 to Sale. Nothing in between and those 2 are your major towns as far as shopping etc.
Schools. We're not talking the likes of Scotch or other top privates, but even compared to better public schools they're way below that level, and again the potential distance between home and school.
Services like hospital etc. Something serious and you'll be having a chopper flight while knocked out. No ifs or buts about it.
Then there's distance to current family/friends. It's 3 hours to Bairnsdale from the city. Unless you've got extra room or shout them accommodation, visits are likely to be restricted, especially if they're tightarses.

There's more than just the financials to weigh up in such a move


already given some thought to some of those concerns
employment, there are 8 nursing homes and 2 hospitals, i could get work at but with out paying 3500 in mortage i dont mind if do any work just to bring in a basic wage and my wife is happy to change carries if needed.

we are sort of home people and dont really go out much unless its food shopping or for me to fish or to kmart or big w.
'probably a big issue is schools but might more back to town by then,

we looking at getting a 5derom hours so be room for guests

i only really look at financials so thats i put it up here for axtra advice foe things i forget.

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Re: What would you do to become debt free?

Postby rb85 » Wed Jun 13, 2018 11:52 am

smile0784 wrote:
rb85 wrote:Without going down the path of personally talking about anyones individual circumstances it's got me stumped why people are in debt to not only have their primary place of residence but then another investment property or 3 on the side. Being in so much debt must not be good for peoples stress levels etc.

Any decision to relocate is obviously a personal one with many factors to consider but little to no mortgage is always a plus lets face it life is for living as much as you can.


well if you had the chance for some else to pay off your debt would you!!

that's just smart thinking isn't it.
you could say that your helping out those less fortunate that are unable to buy a house so your giving them a chance live somewhere since public housing waiting list is shocking.

whats the alternative
add to the 110,000 homeless people that live on the street.


If your running at a loss your running at a loss going into debt to run at a loss?? For a small tax benefit?
Think over inflated property price and high rents to sustain the investment boom would be more of a contribution to homelessness.



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