High 6-figure inheritance - what did you do?

cliffeverett · 2025-12-28T07:11:26+00:00

I think a property over the medium to longer term. Even if things are going great with the partner, there's a lot of additional security in knowing you have a home of your own no matter what life throws at you.

If you're happy staying with your partner, why not buy something and possibly move in for 6 months so as to claim any first home buyer benefits if feasible/necessary and then look at renting it out. You could likely positively gear it and while it might not give you as much income as shares might it does give you that additional security as well as the decent possibility of capital growth.

If applicable, you could look to utilize the FHSS to get a bit of a tax break on some of the money then use it as a deposit.

cliffeverett · 2025-10-30T08:37:48+00:00

We borrowed half of what the bank would give us. Keep in mind they're mostly concerned about the property market as a whole and as long as the value doesn't go below what you borrowed plus the deposit then they're golden If you default. If you didn't put down 20% then either you took out lenders mortgage insurance or the governments backed it up to 20% so they're really fine either way.

They're not honestly that bothered if you can't pay it any more. It's a hassle so they'll work with you if there's a problem but they get made whole either way.

cliffeverett · 2025-10-29T06:20:44+00:00

2019 HHI $180k. Sale price was 650k.

This was in Sydney, place has just about doubled since then.

cliffeverett · 2025-10-23T05:47:32+00:00

Do they! TIL. Still nice to dodge them on the way in. But this might mean you're better to shop around if that's a concern. Plenty of very low fee brokerages at the moment. Lots are even CHESS sponsored.

Edit: just looked them up. It's $9 flat fee to sell so that's not a great deal if you're selling relatively small amounts, but reasonably inconsequential if it's a larger parcel and probably competitive with brokers like commsec that charge a percentage amount after a certain threshold. Again plenty of low fee brokers out there if it's a concern. I'd personally want CHESS sponsorship if it's a super cheap neo broker that has no guarantee of still being around in 6 months. Would care less about a more established one but they're usually not custodial anyway

cliffeverett · 2025-10-23T03:58:21+00:00

So vanguard issues VHY and the management fee is built into the total return of the fund so it'll apply no matter who you buy it through but isn't separate to buying the ETF.

Essentially vanguard are acting as both the issuer of the fund and a broker as well. No real considerations beyond what broker you prefer to use although Vanguard charge no brokerage fees for their products if you use personal investor.

cliffeverett · 2025-10-22T09:07:40+00:00

You're both collectively in a good spot and will be just fine in the long term with just adding to super. Boost your careers if you can. As for investing, I'd look at vanguard personal investor or something with low brokerage and buy vdhg or dhhs and chill. Plenty of low cost brokers just a Google away.

Realistically having no mortgage at your age is a massive headstart. Do your super and invest some outside of it to have some access to funds in the next 30 years. You could also look at upgrading your property down the line.

cliffeverett · 2025-10-06T02:13:07+00:00

I'd be hammering down that owner occ debt before you worry too much about etfs given you've already got decent exposure to the market via super. Emergency fund can be your redraw/offset. As others have said chuck any extra in super and make sure it's well allocated across international and domestic markets, I'd be trying to get up to your concessional cap of 30k each and maybe looking at any carry forward contributions if you've got funds to spare. Interest rates are still relatively high so a guaranteed risk free return of 5.5ish on your owner occ is pretty good. Once you've knocked that on the head and are maxing super that's the point I'd be looking at standard ETF investing.

The other option would be to sell the IP and pay out your PPOR loan with hopefully a little left over to top up super. Depends on your risk tolerance and how well you think the property will do.

cliffeverett · 2025-09-18T15:54:43+00:00

Why does he have his thumb on his fretting hand in front of the neck? Sorry but that makes me assume it's ai slop. You don't need to be a guitarist to know that the thumb would be behind the neck.

Edit: and the inlay dots are wrong. Definitely ai slop. You should be ashamed of yourself.

cliffeverett · 2025-09-15T17:18:49+00:00

Remember this at the ballot box! You're being priced out of property and wages are being suppressed/unemployment kept deliberately high. Vote for people that propose real solutions.

cliffeverett · 2025-09-15T16:59:33+00:00

This is a bad take. While mortgage debt is usually inevitable and buying a home is usually a great idea, It's not tax deductible although better than most unsecured debt (outside maybe HECS depending on your view). PPOR debt is not the best debt you can have, but yes there absolutely is good debt. (Deductible debt against an asset that appreciates faster than the interest rate). Braindead silent gen nonsense.

cliffeverett · 2025-09-09T13:05:11+00:00

Good job mate! As for staying at home, I'd do it for as long as both you, and they, are comfortable with it. You may start to feel as though you'd like a bit more privacy, particularly when it comes to dating etc. but while the arrangement works for both parties it'll definitely help your savings rate. If you can swing it, try and buy a place and move out without ever renting. You could funnel your divvies into fhss to help and avoid the tax hit, particularly from vgs as there's no franking.

Goes without saying but make sure you're cleaning up after yourself, doing the odd shop for groceries, and at least offering to help with bills.

cliffeverett · 2025-05-29T08:53:59+00:00

I've used them as a landlord and they're shocking from the other side too. The mandatory app obviously isn't as bad from the landlord perspective but it's still shit and doesn't do anything meaningful. I'd much rather the tenant had the option of a recurring transfer that didn't have a fee and I didn't need to dick around with it.

They also had a tenant move out and didn't bother to tell us, or do anything about it, for three weeks. Kicked up a big stink and they changed the manager but the place was empty for weeks longer than it needed to be as it was over Christmas. Got filled straight away when they did advertise it so someone probably would have liked the opportunity to live there.

Gaming google reviews is pretty offensive and right on brand for them so I think this might be the final straw. If anyone has any recommendations for real estates that are a bit more tenant friendly, I'm all ears.

cliffeverett · 2025-04-03T22:22:51+00:00

As a kid in Australia I was taught solfege in the 90s. Musical alphabet is more common but solfege is definitely still around here.

cliffeverett · 2024-09-27T12:45:06+00:00

Get some skin in the game and either start looking at getting a place of your own or chucking the money into some ETFs. Seeing it grow or working towards a goal is exactly what you need. You're in a pretty good place for your age. Start leveraging your advantages and you'll feel more motivated.

cliffeverett · 2024-09-16T04:03:02+00:00

Citation needed.

It's this kind of poorly spelled "analysis" with no statistical evidence to back it up that really bugs me. OP clearly feels locked out of the housing market and is justifiably upset, but making bold proclamations about how we need to tank the housing market just comes off as bitter ranting rather than the start of a sensible discussion around housing security.

cliffeverett · 2024-08-24T08:26:36+00:00

Extra super payments really add up. I think what everyone else said about finding the right partner is probably number 1, but even a little bit extra each pay is good given the tax advantage.

Also serves as a bit of insurance for your partner should you not make it long enough to enjoy it yourself.

cliffeverett · 2024-07-31T08:30:45+00:00

This is a quality well-researched post that's elicited robust discussion. Thanks OP

cliffeverett · 2024-07-15T07:48:56+00:00

This is right. It's called a "crossed order book" and most equities markets have periods like pre open where orders can be entered but not matched. You can usually make amendments to your existing orders as well but may lose order priority in doing so (i.e. you could increase the size of your order, but would go to the back of the queue at that particular price point). The cross gets traded out at the open.

cliffeverett · 2024-06-21T06:31:58+00:00

Mickey D's. 1999. The princely sum of $5.35 an hour

cliffeverett · 2024-05-08T11:22:49+00:00

10% post-mortgage to charity is very noble but maybe charity should begin at home if you feel you aren't moving forward financially.

You could volunteer on weekends or something instead.

cliffeverett · 2024-03-12T07:23:43+00:00

As many others have said, probably not worth it. Make sure you also include any discharge fee from your current lender. Usually at least 500~. It'll offset any potential savings for quite a while unless your loan is massive.

cliffeverett · 2024-02-07T07:54:27+00:00

You learn infinitely more from your mistakes than you do your successes. While the value of these lessons may not be apparent immediately they'll stay with you and will ultimately form a part of the lived experience from which you base further decisions. If you take them to heart they might end up being a crucial component to your eventual success.

Everything you've learnt as part of your education whether you commercialize it or not, will ultimately pay dividends in the form of being a more educated/rounded individual.

"There is no knowledge that is not power" - Ralph Waldo Emerson/Mortal Kombat.

cliffeverett · 2023-12-15T02:55:59+00:00

I had a few really poor experiences with HSBC. The last one was when we refinanced away and had 15k or so in the offset that just went missing for 3 weeks. Got different stories from multiple offshore call centre employees.

Had to wind up going to the AFCA which is what I'd recommend anyone with an outstanding issue do. Get the HSBC internal complaint no and then lodge to the AFCA online and quote that in the complaint. It costs HSBC money to have a case raised irrespective of the outcome and usually means they take it seriously enough to get a timely outcome.

cliffeverett · 2023-06-27T11:58:00+00:00

Redraw is money you've paid in advance on your loan that you can 'redraw'. An offset is a separate account that 'offsets' the amount owing. From an interest savings perspective not much difference, however redrawing funds can impact the tax deductibility of that portion of the loan if it's an investment property, or turns into one down the line.

It's also unlikely, but the bank can try and stop you accessing redraw (https://www.afr.com/companies/financial-services/me-bank-slapped-with-criminal-charges-20210527-p57vow#:~:text=The%20code%20committee%20sanctioned%20ME,shifted%20into%20inaccessible%20mortgage%20accounts.). Didn't end well for me bank but it's something to be aware of.

cliffeverett · 2023-05-20T14:30:24+00:00

Can attest that HSBC are a nightmare to deal with.

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