Sorry The-Head but alot of what Hingdog says is true.
Let me tell you a story. When I first started work as an elect apprentice back in late 60's I needed a car. So i borrowed about $700 from my grandfathe to buy an EH holden. Every pay day I was there with most of my pay in my hand to repay him. When I had paid the principle off I asked him how much interest I owed him. He said none because I had been there on que every second friday to pay him. I had been rewarded. A bit down the track on one of my visits I saw him with a dog eared exercise book. He was always writing something down as he read the bussiness section of the paper. So i asked him what he was doing. He was tracking his shares. Hmmm That got me interested. After chatting for a while I asked if I buy shares as well. He said I should pay into super and pay off my home asap. Thats what I did. Once house was paid off the amount of money that was house payment was then paid into my Super or any other investment I liked. Do any of your remember OST mortgage fund? they went broke and I lost some $$$, bugger. What about NRMA Investment bonds, the one that if you held for 10 years were tax free. You could add 125% of previous years deposit as long as you didnt miss a year. I did well out of those. I learnt valuable lessons about investring over my 30 year working life. Interest rates were high on home loans, 19% if I remember correctly, didnt worry me I had paid out my loan so I did well on term deposits. I could go on but I said enough. You can achieve what you want if you work and save hard enough. I only worked in one job but today it might take a couple of jobs. You want to retire at 49 as I did work for the goal. Ive attached my Asset Graph that starts the day I retired. It doesnt include my home or the approx $800k that ive gifted to my kids.
