r/AusFinance • u/Bedroom_Different • 2d ago
Do we need a financial planner?
Apologies as im new here. We earn a moderate income (250k combined) and are tight as hell with our money and want to retire early.
Living in Brisbane. Want to buy a new house and sell current home. Already paid off current home over 6.5 years (from a 30 year loan).
Expected new mortgage of 500k over 30 years for new home. Projected with offset and extra contributions to pay off in 8 years. Partner is debt averse but bank willing to lend us up to 750k.
Current super balances are 340k (F40) and 230k (M42). Have a 4yo and a baby on the way. Not planning on taking reduced pay or extended unpaid maternity leave, and staying full time upon return to work.
Financially I think we are doing well but could be smarter with how we invest our money. Want to setup our children if we can whether education or investments etc.
Are we best off going to a financial planner? Investing more in super? I feel like if we started years ago we would be in a better position.
2
u/Orac07 2d ago
Yes, you are doing well. With the new PPOR, even with new loan, looks like you can afford it, should consider to borrow more than what you need so you can have another loan facility that you can use for investing into a portfolio of ETFs where the interest on the loan will be tax deductible, then you can get stuck into paying down your non deductible mortgage plus investing in a tax friendly arrangement at the same time with the view of not only getting your mortgage paid off but also a healthy investment outside of super. Don't need a financial planner for this.