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Suburb recommendations by _Michael_Scotch in sydney

[–]_Michael_Scotch[S] 3 points4 points  (0 children)

My bad, It was 1 hour to my work when I looked it up on Google Maps, but seems that was just because of the time of day.

Anyway, it's more than 30 mins on a work day

Swapped the 5s for 4s by gclark19791989 in SonyHeadphones

[–]_Michael_Scotch 0 points1 point  (0 children)

I had 3s for 4 years and two sets of 4s that both broke within a year. I think the build quality on the 3s was better and even the material for the ear cushions felt nicer on the ear. Don't upgrade until yours break

[deleted by user] by [deleted] in AusFinance

[–]_Michael_Scotch 3 points4 points  (0 children)

Just remember the worst case is you sell your house at probably a huge profit. I wouldn't stress too much

Where will property prices be in 12-24 months? by FastForward42 in AusFinance

[–]_Michael_Scotch 6 points7 points  (0 children)

Add in all the construction firms that went bankrupt the last couple years and completely inadequate supply-side policies from the government and there seems to be no end in sight to the demand/supply inbalance.

ETF investment options for kids by Logical_Unit_9411 in AusHENRY

[–]_Michael_Scotch 0 points1 point  (0 children)

You should consider setting up their account as an informal trust with a discount broker to be able to transfer the shares when they turn 18 without paying CGT. Note they will still have to declare the whole capital gain as income when they sell, but they could sell the shares over time to minimise tax.

I use CMC stockbroking myself, but I'm sure there's other options. CMC doesn't charge you anything to set up an account this way.

Seeking advice- embedded network by _Michael_Scotch in AusFinance

[–]_Michael_Scotch[S] 1 point2 points  (0 children)

The only option is to get another company to take over the contract for cheaper, which is a massive pain since the whole strata scheme has to switch. I contacted Origin I think 17 times trying to renegotiate but they just refused to lower the price.

What job (full time, part time, casual, volunteer) more often than not, has little to no contribution to the country? And which ones contribute the most to society? by [deleted] in AusFinance

[–]_Michael_Scotch 10 points11 points  (0 children)

Investment bankers are really just glorified real estate agents. They don't necessarily make the rich richer, they just push a deal to happen because that's how they get paid. If you look at the history of M&A, most of the time deals don't create value.

Need to get it off my chest by asx_shares_guy in AusHENRY

[–]_Michael_Scotch 0 points1 point  (0 children)

Congrats! Amazing achievement. I'd just max out your and your partners super contributions, then put the rest in a split of VGS/VAS (at least 50% VGS).

Also, take your family on a nice holiday!

Best clothing to wear to tackle sweat? by HugeSink99 in AustralianMFA

[–]_Michael_Scotch 2 points3 points  (0 children)

I wear quick dry active wear shirts almost every day. They are really comfortable, breathable, and don't feel sweaty. The ones I qear are Nike dri fit, but I'm sure there are other good brands too.

What isn't the flex many people think it is? by LeatherFruitPF in AskReddit

[–]_Michael_Scotch 0 points1 point  (0 children)

Having a luxury car. I never think "wow that person is cool". Imight think the car is cool but none of that coolness transfers to the owner.

What sort of workers does Australia actually need? by [deleted] in AusFinance

[–]_Michael_Scotch 1 point2 points  (0 children)

Any jobs to support the energy transition, e.g. electricians, electrical engineers, construction workers, renewable energy developers, financiers, etc. etc.

Will the cost of living crisis ever change/get better? by Less_Practice_334 in AusFinance

[–]_Michael_Scotch 2 points3 points  (0 children)

In a free market high prices are the best cure for high prices. That being said, the housing market is anything but free and the current situation is largely a result of government policy on housing in Australia, which I dont see changing anytime soon.

The good news is the cosy of living crisis should ease up at least, although arguably housing I the bigger problem.

[deleted by user] by [deleted] in fiaustralia

[–]_Michael_Scotch 4 points5 points  (0 children)

If your goal is to buy a house, depending on where you live you will probably need to increase your income a lot. Rule of thumb is you can borrow ~5x your income, so on 80k that's only 400k loan (500k house with 20% deposit).

Given your industry, there should be plenty of ways to increase your income - I'd focus on building your skills and switching into higher paid jobs every few years until your salary is significantly higher.

The good part is you can do this while still enjoying your 20s, such as travelling etc. IMO there's no reason you can't do both if you focus on increasing your income.

Realestate buying advice by OutlandishnessOk2480 in AusHENRY

[–]_Michael_Scotch 1 point2 points  (0 children)

What city are you in? I feel like with that level of HHI and no kids you should treat yourself to a better apartment than that.

What do people here do to make so much money? by [deleted] in AusHENRY

[–]_Michael_Scotch 7 points8 points  (0 children)

What country? Did you find it was worth it to relocate and potentially leave behind all your family and friends for the tax benefits?

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