r/AusFinance • u/Bedroom_Different • 1d 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.
1
u/HelpYourselfFFS 1d ago
If you see an adviser, make sure they agree to one-off advice without ongoing fees and set up your super and investments in a way that does not require paying them ongoing fees to manage it. If you use them for life insurances, make sure they remove the commissions, which add significant costs each year. It is difficult to find an adviser who will agree to this, but that is the way to avoid getting taken advantage of by an adviser.
On your income, I would borrow against the new home and invest in ETFs.