AusFinance

1150 readers

5 users here now

founded 2 years ago

MODERATORS

lodion@aussie.zone

Los@beehaw.org

[serious] what would you do with your first 100k? (sh.itjust.works)

submitted 1 week ago by awaysaway@sh.itjust.works to c/ausfinance@aussie.zone

15 comments fedilink hide all child comments

Were you between 20-35 how would you allocate your first 100k saved?

you are viewing a single comment's thread
view the rest of the comments

[–] hanrahan@slrpnk.net 2 points 1 week ago* (last edited 1 week ago) (1 children)

Depends on your accommodation now, if you have cheap accomodation buy a rental, claim the interest as a tax deduction, do the DIY repairs and maintence on the place yourself, buy where you know the market, not some random far away town.

Maybe spend some on a better education PHd, Masters or whatever ? Should lead to higher income going foward.

Put some in Super and claim the deduction (check how much you can for your concessional contribution (current concessional cap- employer contribuitons = max amount) , nothing else like it to turbo charge that amount ; time and compounding interest and it reduces your tax by claiming the deduction amd forces you not to take it out.

Be frugal, keep saving and investing.

I started at 19 with shares and retired at 40, am now 60. So it depends what it is you want out of life ? i wanted my time to be mine to do as I want, i also had zero interest in having kids. My only regret in life was not retiring earlier. It really depends what you want out of life as well, ie buy a flash car, or whatever ?

I am NOT a investment advisor, so grain of salt.

[–] awaysaway@sh.itjust.works 1 points 1 week ago

This is the dream for me really. Alas I am nearly 10 years later to the starting line than you.

Approximately 30% of my income goes to cost of living and with the rest I'd say I invest about 30% and the rest sits in a HYSA at 5.2% interest. Generally pretty frugal while allowing meaningful trips and travel.

I find the home ownership pieces wildly daunting as I do not know the market anywhere and am a firm believer in "past performance is no guarantee of future success" so i remain skeptical of infinite growth in housing.

Anyways thanks for the thoughts mate!