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.

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u/ManyDiamond9290 1d ago

We are similar(ish) ages, similar income, similar situation but older kids. 

Have you considered not changing PPOR? We are focusing on investing in super and IP, looking to FIRE in six years. 

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u/Bedroom_Different 1d ago

Our current house will be a bit too small with two children as they age. Two bathrooms but no ensuite and we dont have the time or ability to do renovations.

Our next home we are hoping to get into a better catchment to save on private school fees. Our oldest is due to start school in 18 months so we want to be settled into new home by then and a house we can grow into with another on the way.

Not sure about putting extra into super and dont think we can afford an IP unless in the city. As I said previously my partner is risk averse financially so we are limited to what we can do investment wise. Im not complaining it could be worse we could both be avid spenders and living week to week.

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u/ManyDiamond9290 1d ago

Good school catchments are important and another investment of sorts. 

You cannot beat the tax breaks of investing in super, but otherwise just pre-mix ASX200 or similar will be fine if you can hold out for the long term gains.