What do you want?
Aug 24th 2009, 2:54 am
#17
Banned
Joined: Aug 2009
Posts: 2,733
Re: What do you want?
I must admit the idea of a house in the burbs and 2.4 children scares the hell out of me.
Aug 24th 2009, 3:27 am
#18
Chan eil aon chànan gu le
Joined: Feb 2009
Location: On the ning nang nong
Posts: 22,437
Aug 24th 2009, 3:39 am
#19
BE Forum Addict
Joined: Mar 2009
Location: Kohimarama
Posts: 1,626
Re: What do you want?
If you are into cycling what about a cycling holiday adventure - If you want a travelling companion I will come - I have got my bike ready!!!!
http://www.adventurecollective.com.a...php?code=EPA02
http://www.adventurecollective.com.a...php?code=EPA02
Aug 24th 2009, 3:48 am
#20
Has left the building
Joined: Mar 2007
Posts: 4,079
Re: What do you want?
If you are into cycling what about a cycling holiday adventure - If you want a travelling companion I will come - I have got my bike ready!!!!
http://www.adventurecollective.com.a...php?code=EPA02
http://www.adventurecollective.com.a...php?code=EPA02
When we get hold of babysitters wife and I will be off to do this little jaunt.
Aug 24th 2009, 4:32 am
#21
Lost in BE Cyberspace
Joined: Feb 2005
Posts: 15,526
Re: What do you want?
Casino.... "red or black" 
You did say small amount.
You did say small amount.
Aug 24th 2009, 7:23 am
#23
Forum Regular
Joined: Jul 2009
Location: Swindon
Posts: 67
Re: What do you want?
Why not go and do something - take flying lessons, go on safari, book dinner at a 3* michelin restaurant, get front row seats at your favourite band's next gig (or hire yourself a couple of bouncers for the mosh pit, depending on the band) - stuff you can remember. And a decent camera to help the memories 
HTH, and enjoy it!!
Vince
HTH, and enjoy it!!
Vince
Aug 24th 2009, 7:30 am
#24
Lost in BE Cyberspace
Joined: May 2004
Location: Birkdale QLD
Posts: 7,642
Re: What do you want?
Take a years sabbatical from work, and do whatever the hell you want. Cos in the long term, you are only this young and healthy once. If you save it up till you're retired who knows if you will be in any condition to enjoy it.
Negotiate an unpaid year off work, and have a blast.
JTL
Negotiate an unpaid year off work, and have a blast.
JTL
Aug 24th 2009, 10:00 am
#25
Gone Senile Member
Joined: Sep 2001
Location: Sydney
Posts: 3,014
Re: What do you want?
We got left some money and did the mortgage thing - I am with the others who say to change the mortgage, get a nice big offset and work out how much you save each period. We have done more in the last year with this process than any savings account.
Plus we spend some of the difference in savings when we want to without paying so much for it!
Plus we spend some of the difference in savings when we want to without paying so much for it!
Aug 25th 2009, 1:17 am
#26
Joined: Oct 2007
Posts: 9,668
Re: What do you want?
Isn't it better to invest the money into a mutual fun and earn the interest off that, plus get the tax break by having the mortgage? Don't pay off your mortgage early... it's the cheapest money you'll ever get.
Speak to a financial advisor before you blow it on fees swapping your mortgage. A mutual fund in shares would be a much better use of your cash imo.
Speak to a financial advisor before you blow it on fees swapping your mortgage. A mutual fund in shares would be a much better use of your cash imo.
Aug 25th 2009, 1:29 am
#27
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: What do you want?
I'd learn to fly. In fact I want to learn to fly but can't afford it. Lend us a few bucks please 
Aug 25th 2009, 2:04 am
#28
Demi-God
Joined: Oct 2008
Location: Far North Queensland
Posts: 2,812
Re: What do you want?
Isn't it better to invest the money into a mutual fun and earn the interest off that, plus get the tax break by having the mortgage? Don't pay off your mortgage early... it's the cheapest money you'll ever get.
Speak to a financial advisor before you blow it on fees swapping your mortgage. A mutual fund in shares would be a much better use of your cash imo.
Speak to a financial advisor before you blow it on fees swapping your mortgage. A mutual fund in shares would be a much better use of your cash imo.
It's the cheapest way to borrow money, sure, but if you are going to be financially secure you don't want to be borrowing money.
If you pay off your mortgage you have technically given yourself a $1000-$2000 dollar a month pay rise tax free. You can't get that anywhere else.
Aug 25th 2009, 2:09 am
#29
Joined: Oct 2007
Posts: 9,668
Re: What do you want?
You call paying $20000 dollars a year in mortgage interest cheap??
It's the cheapest way to borrow money, sure, but if you are going to be financially secure you don't want to be borrowing money.
If you pay off your mortgage you have technically given yourself a $1000-$2000 dollar a month pay rise tax free. You can't get that anywhere else.
It's the cheapest way to borrow money, sure, but if you are going to be financially secure you don't want to be borrowing money.
If you pay off your mortgage you have technically given yourself a $1000-$2000 dollar a month pay rise tax free. You can't get that anywhere else.
Say you lose your job and have your mortgage paid off and no money in the bank? Investments in other areas are a much wiser choice esp considering that some have a higher yeild than mortgage interest... depending on investment of course.
Like I said, see a financial advisor. Dumb to blow money on something that could make you money.
Aug 25th 2009, 3:35 am
#30
Demi-God
Joined: Oct 2008
Location: Far North Queensland
Posts: 2,812
Re: What do you want?
I'm not sure about that B. It's all very well putting all your cash into a mortgage, but you'd better be sure you've got a redraw facility on it. Might be smart to have no mortgage, but if you haven't got any cash to draw on, you're screwed!
Say you lose your job and have your mortgage paid off and no money in the bank? Investments in other areas are a much wiser choice esp considering that some have a higher yeild than mortgage interest... depending on investment of course.
Like I said, see a financial advisor. Dumb to blow money on something that could make you money.
Say you lose your job and have your mortgage paid off and no money in the bank? Investments in other areas are a much wiser choice esp considering that some have a higher yeild than mortgage interest... depending on investment of course.
Like I said, see a financial advisor. Dumb to blow money on something that could make you money.
Look at it this way. If you don't own a property you can either pay rent or you can buy a home. Right. So let's say that either way it will cost you $1000 a month either in rent to a landlord or interest in a mortgage. Right.
So if you earn 5000 dollars a month, your actula income is $4000 right?
If you rent you can never change this.
If you buy a property you are able to eventually pay if off without incurring any extra cost. Interest goes down with time and rents go up.
At an interest rate of 5% you can pay off 100,000 dollars worth of your mortgage and you increase your income by about $414 a month. Tax free, since you've already paid tax on it.
Plus you've lowered a cost that you must pay.
And, believe it or not, you own more of your property, so if the worst comes and you have to sell then you'd be unlucky not to realise a profit on your home, which will net you even more money. And in Austlia you don't pay tax on capital gains from your own home, so that is safe too.
There is no other investment that can gain you so much.
Until you own your own home that is.