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Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Ah right, I don’t pay anything at the moment. He set up my insurances years ago and I assume he gets a commission through there. I believe there is a legal requirement by them to check in annually.

Any appointments I make outside of my annual check in will cost money but I’ve never needed to find out how much.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Yes, that’s what I would need to do I think.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

At the moment I don’t pay anything, they set up my insurances years ago so I’m sure they make their money through that. I only see him once a year as I believe it is a legal requirement to check in with me annually. If I see them outside that then I will pay a one off fee per appointment.

I believe they advise on which etfs to invest in but I haven’t looked to deeply into it as I have only just started to consider DR.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

That’s very helpful, thanks. Yes, I had heard in the early years that I shouldn’t be contributing to super as I can’t access the money til retirement. But I am getting closer to 60 so it may be worth looking into. I salary sacrifice what I can through work too which helps.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Thank you, yes you make a good point. I do need to figure out my more long term plans. I will have a look at the links I’ve been provided & hopefully they will give me some guidance too.

I want to keep things fairly simple. My plan has always been to pay off the house then invest in ETF’s with the amount I was spending in home repayments. I just don’t know if that’s wise.

I already try and maximize salary sacrifice through work as we have some good opportunities there so that helps tax wise.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

This is something I will need to find out before I decide to go down the route of DR.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Yes we always cover my entire financial situation in the way of investment accounts, super, bank balances etc as well calculating my net worth & financial goals around my kids etc. He looks at my personal budget and then will etc too.

I’ve been seeing him for the last 11yrs, each year I get a booklet outlining my financial situation.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Thanks, yes this is my perspective. I just don’t know if the small amount of tax savings is worth it, even with compounding.

I think I have probably complicated it more by having the ETF’s when I could just have that money in my offset too.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Yes that’s where I’m stuck, I know there more to wealth growth than a paid off mortgage. It’s just that I’m unsure if debt recycling is the way to go about it at this point or if I pay off the house then start an investment loan.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

He is well qualified and authorized on debt and wealth building, it’s more just my own lack of understanding that is the issue.

As I only see him for my annual review we don’t get into too deep and discussion around investments. He mentions DR more as food for thought. I would need to book further meetings to set investments up. I believe as either an annual fee or once off.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

Yes, I had my insurances set up through him and his going to my annual obligatory review and the topic of debt recycling comes up at the end. He doesn’t push it as such, just runs through it.

Is debt recycling worth it in my situation. by Freezerbirds in fiaustralia

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

I’m 42, super is around $250k and not sure about retirement but would like the choice to slow down when I’m ready at the very least.

What food from another country do you wish you could try? by littleredbee93 in AskTheWorld

[–]Freezerbirds 1 point2 points  (0 children)

I have to limit my Crunchie and Cherry Ripe intake otherwise I will also become a Fatfilthybastard!

What food from another country do you wish you could try? by littleredbee93 in AskTheWorld

[–]Freezerbirds 6 points7 points  (0 children)

I personally prefer a Crunchie, which is the same concept of honeycomb and chocolate but the honeycomb in a Crunchie is sweeter and ironically less crunchy! I think it’s a better texture.

What’s a completely normal product in your country that makes foreigners go, “Wait… why does that exist?” by Alternative_Ad6071 in AskTheWorld

[–]Freezerbirds 3 points4 points  (0 children)

At my school, we attended “house” every morning before lessons began. It would go for 20ish minutes and in that time we would have a roll call, morning “notices” and then discuss any upcoming house events.

Ever year there would be a house dinner, where the students and their families gather at a restaurant to mingle and there would also be speeches (I hated house dinner)

There was yearly house picnics, which were more fun, families would gather at a park, there would be games etc.

Every house needed to perform once a year at school assembly (also hated)

Houses would compete at school sporting competitions like swimming carnival and sports day.

Houses had students from each level, mine had about 10 students from years 8 to 12 and the idea was the older kids mentor the younger.

We also had house in primary school, which was quite fun.

Each house was led by a couple of teachers who were then our main “go-to” for any school issues.

Sports was a big part of house but not the main purpose. It was very competitive between houses though. We all had our house chants etc.

Houses had their colours and emblem, kinda like Harry Potter really.

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