So just dump it in some nice risky assets with a better return. I hear Afterpay shares are good fun unless you have a heart condition.bowl wrote: ↑Wed Nov 06, 2019 6:55 pmCurrent interest rates suck fo retired people like my dad....purple5ive wrote: ↑Wed Nov 06, 2019 9:46 amWith the current interest rates, you should be able to narrow that margin down even more..
Halving the mortgage is a great start already..
Get f all interest on cash in the bank.
What would you do to become debt free?
- 4liters
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Re: What would you do to become debt free?
2015/16 Fisting Victoria Species comp total: 289cm
Brown Trout: 37cm
Flathead: 51cm; Squid: 36cm; Australian Salmon: 51cm; Snapper 46cm; Silver Trevally 23cm; KGW: 45cm
Major Sponsor: Rim Master Tackle
Brown Trout: 37cm
Flathead: 51cm; Squid: 36cm; Australian Salmon: 51cm; Snapper 46cm; Silver Trevally 23cm; KGW: 45cm
Major Sponsor: Rim Master Tackle
- Cornacarpio
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Re: What would you do to become debt free?
Speaking of heart condition/risky assets, can I interest you in some Osteopore (OSX) shares?
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Re: What would you do to become debt free?
Some interesting stories on here.
I am currently loaded up in debt having moved from Melbourne's inner suburbs to Lakes Entrance ~18 months ago. My wife & I bought a little holiday accommodation business in Lakes Entrance and since it is "specialised" property we could only borrow 60% of the value and had to stump up the rest in cash, which was pretty much everything we had.
Currently my wife is running the business and working as a Myotherapist 7 days a week and I am working a full time job in Bairnsdale as well as running the business after hours and on the weekends. I also do some volunteer work a couple of times a week. So it's pretty much 7 days a week 12hrs a day for both of us atm.
But all things going to plan we should own it outright in another 8 or so years and then we will have the ability to work ~9 months a year and holiday the other 3 months.
So far so good, but time will tell how it all plays out.
I am currently loaded up in debt having moved from Melbourne's inner suburbs to Lakes Entrance ~18 months ago. My wife & I bought a little holiday accommodation business in Lakes Entrance and since it is "specialised" property we could only borrow 60% of the value and had to stump up the rest in cash, which was pretty much everything we had.
Currently my wife is running the business and working as a Myotherapist 7 days a week and I am working a full time job in Bairnsdale as well as running the business after hours and on the weekends. I also do some volunteer work a couple of times a week. So it's pretty much 7 days a week 12hrs a day for both of us atm.
But all things going to plan we should own it outright in another 8 or so years and then we will have the ability to work ~9 months a year and holiday the other 3 months.
So far so good, but time will tell how it all plays out.
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Re: What would you do to become debt free?
I think the takeaway for almost everyone is long term planning. Without a long term plan and a willingness to execute it you're probably not going to really get anywhere. I wish I had the balls to do something like what you are.
Chasing LBG and sharing a love for the Martial Arts, everywhere, all the time.
LBG Season 2023/4 :
Kingfish : 91
Longtail : 1
LBG Season 2023/4 :
Kingfish : 91
Longtail : 1
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Re: What would you do to become debt free?
Yeah that's it. Can't leave it too late or you'll really be playing catch up later on in life.
lol. But then who would I live vicariously through for all of the epic fishing trips and BJJ comp success?
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Re: What would you do to become debt free?
Long term planning for the average working person putting a little away in Super goes a long way and is a tax effective investment.
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- 4liters
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Re: What would you do to become debt free?
Have you spoken to a financial planner yet?
2015/16 Fisting Victoria Species comp total: 289cm
Brown Trout: 37cm
Flathead: 51cm; Squid: 36cm; Australian Salmon: 51cm; Snapper 46cm; Silver Trevally 23cm; KGW: 45cm
Major Sponsor: Rim Master Tackle
Brown Trout: 37cm
Flathead: 51cm; Squid: 36cm; Australian Salmon: 51cm; Snapper 46cm; Silver Trevally 23cm; KGW: 45cm
Major Sponsor: Rim Master Tackle
- 4liters
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Re: What would you do to become debt free?
Or even simple **** like making sure your super isn't spread over a bunch of different funds, and checking the fund you are in is actually getting a decent return.rb85 wrote: ↑Fri Nov 08, 2019 7:15 pmLong term planning for the average working person putting a little away in Super goes a long way and is a tax effective investment.
2015/16 Fisting Victoria Species comp total: 289cm
Brown Trout: 37cm
Flathead: 51cm; Squid: 36cm; Australian Salmon: 51cm; Snapper 46cm; Silver Trevally 23cm; KGW: 45cm
Major Sponsor: Rim Master Tackle
Brown Trout: 37cm
Flathead: 51cm; Squid: 36cm; Australian Salmon: 51cm; Snapper 46cm; Silver Trevally 23cm; KGW: 45cm
Major Sponsor: Rim Master Tackle
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Re: What would you do to become debt free?
Spot on and that the fees aren’t too high.4liters wrote: ↑Fri Nov 08, 2019 7:28 pmOr even simple **** like making sure your super isn't spread over a bunch of different funds, and checking the fund you are in is actually getting a decent return.rb85 wrote: ↑Fri Nov 08, 2019 7:15 pmLong term planning for the average working person putting a little away in Super goes a long way and is a tax effective investment.
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Re: What would you do to become debt free?
Good on ya mateCannonsJS wrote: ↑Fri Nov 08, 2019 8:18 amSome interesting stories on here.
I am currently loaded up in debt having moved from Melbourne's inner suburbs to Lakes Entrance ~18 months ago. My wife & I bought a little holiday accommodation business in Lakes Entrance and since it is "specialised" property we could only borrow 60% of the value and had to stump up the rest in cash, which was pretty much everything we had.
Currently my wife is running the business and working as a Myotherapist 7 days a week and I am working a full time job in Bairnsdale as well as running the business after hours and on the weekends. I also do some volunteer work a couple of times a week. So it's pretty much 7 days a week 12hrs a day for both of us atm.
But all things going to plan we should own it outright in another 8 or so years and then we will have the ability to work ~9 months a year and holiday the other 3 months.
So far so good, but time will tell how it all plays out.
Keep it up.
You have more enthusiasm then me