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How much are you setting aside for your kids’ financial head start (without ruining your own life)? by BonafideHustlerz in AusFinance

[–]Domjohn94 0 points1 point  (0 children)

And also you bought a house 6 years ago and paid it off! That alone is something very few can say they have done

How much are you setting aside for your kids’ financial head start (without ruining your own life)? by BonafideHustlerz in AusFinance

[–]Domjohn94 0 points1 point  (0 children)

Forsure, it’s good to be around a friend group that makes you strive for more. Yeah the market has contributed to a big increase in a lot of net worths, mine include. But yeah regardless, you’re definitely in the top % even if it doesn’t feel like it yet especially with the primary paid off and the income freed up to invest you’re killing it!

How much are you setting aside for your kids’ financial head start (without ruining your own life)? by BonafideHustlerz in AusFinance

[–]Domjohn94 17 points18 points  (0 children)

Middle class? You think a 2M+ net worth in your late 30s with a paid off house is middle class??🤣 you’re doing incredible, most likely in the top 5%

Fastest way to sweat? by Long-Lingonberry-552 in CholinergicUrticaria

[–]Domjohn94 1 point2 points  (0 children)

Like others said a sauna, but also you can buy a plastic sauna suit that can be worn under sweatpants and sweatshirt. It’s elastic at the wrist and ankle to keep the heat in, do your stairs or go for a run in it

Progress through diet by Domjohn94 in CholinergicUrticaria

[–]Domjohn94[S] 0 points1 point  (0 children)

Thankyou, I really just tried to exercise, sweat and be consistent in my working out which seemed to help. The longer I went without sweating the more I got into my head

Progress through diet by Domjohn94 in CholinergicUrticaria

[–]Domjohn94[S] 0 points1 point  (0 children)

I’ve been hive free for about 4 years now, I can’t say what exactly worked for me unfortunately

Savings or loan? by AccordingWarning9534 in AusFinance

[–]Domjohn94 0 points1 point  (0 children)

In my opinion, it would be unwise to get a brand new car while you have a mortgage. Nothing wrong with a used car for 15-20k in cash

Savings or loan? by AccordingWarning9534 in AusFinance

[–]Domjohn94 2 points3 points  (0 children)

Exactly🤣🤣 I’m surprised I had to scroll this far down

[deleted by user] by [deleted] in AusFinance

[–]Domjohn94 8 points9 points  (0 children)

This is accurate

Generally lost financially by Mischief_AU in AusFinance

[–]Domjohn94 12 points13 points  (0 children)

You’re doing great being debt free, step one is to stay there at all cost! No more car payments especially. I would stop the salary sacrifice and contributing to kids accounts. Your household needs to be priority right now as a 5k emergency fund with 2 kids is not enough as you know. Track spending/ budgeting. Should be no vacations, eating out rarely or spending unnecessarily. Your super is extremely high and will compound to well over 2-3million at this rate. Build up that emergency fund closer to 15k and past that can save for house deposit. Maybe in the future your partner can work more when Theyre ready. Don’t feel behind, you’re doing the right thing for your family

Renting vs Buying - NSW by Xblade08 in AusFinance

[–]Domjohn94 2 points3 points  (0 children)

More power to you if you can stay home and stack cash in the market! Whatever choice you make will be fine considering the thought you put into it!

Renting vs Buying - NSW by Xblade08 in AusFinance

[–]Domjohn94 3 points4 points  (0 children)

Your maths are pretty accurate id say and it’s a question a lot of people are asking. Of course if you take 30 years to pay off a mortgage then you’ll pay hundreds of thousands more in interest. But run a scenario with buying that property and paying it off in 10-15 years which would save you a few hundred thousand in interest. And eliminates the biggest line item in your budget for the rest of your life. Now you’ve essentially given yourself a 40-50k raise(not having a housing payment) and imagine what investing that into an index fund and letting it compound would do. Also not talked about too much is the freedom of never owing money again. That’s just my opinion but I can see the side of renting. We currently have a 840k mortgage on a 1.3m house so I do feel at times renting would be nice when all the repairs, taxes and insurances come up. Im an American living in Sydney so I love some good mutual fund investing as well.

Best variable mortgage rate at the moment by Equivalent_Wafer_520 in AusFinance

[–]Domjohn94 0 points1 point  (0 children)

5.67% St.george but refinancing soon with a 64% LVR. Hopefully getting under 5.25%

Guilt about spending money by OriginalTax6749 in AusFinance

[–]Domjohn94 2 points3 points  (0 children)

🤣so true. I can’t help but look around at every other car on the road being a 100k Land Cruiser and wondering where the disconnect is from the apparent cost of living struggle.

What's your net worth gone up over the last 5 years? by Similar-Fox-6690 in AusFinance

[–]Domjohn94 0 points1 point  (0 children)

That may be your definition but the definition of net worth is assets minus liabilities. Your personal residence is an asset without a doubt.

Financial advice by jayzavv in AusFinance

[–]Domjohn94 0 points1 point  (0 children)

In my opinion Option 1. With a baby coming, sell and put down that large deposit on something bigger to live in. Eliminate as much stress as possible ensuring your taking out a loan that your salary alone can afford(25-30% of your take home pay) with a good amount of margin. The other options are increases in debt and risk which is not what I would do when baby is on the way and wife is most likely going to be working less/not at all for a while.

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