Hi Matt this is just one idea … I don't think property investors can write the rules … I think the rules should be written after careful discussion by licensed people.
I like the idea from a gearing point and to "protect" the asset and increase FAST equity.
A super fund is a future savings account ??
Why not use it to save interest on the PPOR – this one debt is the GREATEST burden to mums and dads.
My brother is a very wise man IMHO … he said to me recently "isn't it stupid that when we get married the average person spends 40 years paying off their home?"
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Yeh Yeh, point taken big brother…..
Most people like to think of their PPOR as an investment…..Most people have to retire on a centre link pension because they confuse investing with their aspiration to "own" a flash home with all the goodies. Problem is that flash home with all the goodies takes money out of your pocket week in week out with no return. An entire generation of Boomers (my generation) are about to find out when you have a millionaire's aspiration and a centre link pension income and your selling your flash home reality can be a big step down.
Your PPOR is not an investment, its a liability even after you pay it off. Investing is what you do after you pay for your living expenses. If you live below your means you will have money to invest. If you invest in your PPOR only then your living beyond your means.
Hello LR,
Funny we were just talking about this in a meeting.
I cannot agree with you more … as of 2010 130,000 BB are retiring ever year.
We are selling our house and down sizing now for this reason … going from a 4 year old 5 bedder with 4 marble bathrooms etc to a new build large 3 bedder up stairs all with WIR and en-suites and office, formal lounge entertaining downstairs which will free up one million in cash …
More to invest and gear …
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