Hi there
We've been saving for a while and in a few months we'll have saved enough to cover our existing PPOR debt (i.e. no mortgage)....this was the best strategy i learned here and have given me flexibility to upgrade to new PPOR eventually with this offset money but new PPOR is still few years away
just wish to pick your brains to see where to invest our upcoming savings few options i can think of
1) create new offset acc against investment loan and park savings here ( new offset will costs monthly fees and I will be reducing the deductible loan)
2) invest in shares (have no idea where to start, know nothing about this)
3) be involved in so called short term lending ( recommended by one of my friend who does this from his Fin planner, where they lend money to businesses on higher rate on short term). sounds very risky to me.....not sure if anyone here has heard abt such things from their planners..
Ideally we want something where we can keep adding our savings to this investment....we are looking for our 2nd IP at this stage as well.
any suggestions/advise would be great...
thanks
We've been saving for a while and in a few months we'll have saved enough to cover our existing PPOR debt (i.e. no mortgage)....this was the best strategy i learned here and have given me flexibility to upgrade to new PPOR eventually with this offset money but new PPOR is still few years away
just wish to pick your brains to see where to invest our upcoming savings few options i can think of
1) create new offset acc against investment loan and park savings here ( new offset will costs monthly fees and I will be reducing the deductible loan)
2) invest in shares (have no idea where to start, know nothing about this)
3) be involved in so called short term lending ( recommended by one of my friend who does this from his Fin planner, where they lend money to businesses on higher rate on short term). sounds very risky to me.....not sure if anyone here has heard abt such things from their planners..
Ideally we want something where we can keep adding our savings to this investment....we are looking for our 2nd IP at this stage as well.
any suggestions/advise would be great...
thanks