Focus on your mortgage or investing

focus on your mortgage or investing. This is a common question and as always the answer is it depends. Depends on your age and your marginal tax rate. There was something really attractive about saving the guaranteed 6 to 7% on your mortgage. But this is where the depend comes in. Saving 17% in tax utilising concessional contributions instead of extra money going into your mortgage. I believe is even more attractive and regardless of age the numbers always work. The downside is you can’t touch this money till age 60. When investing might also become attractive is when the share market corrects or crashes but large crashes happen really and are impossible to time, and it’s highly unlikely that the average investor will invest large amounts of money when there is so much fear. As always, I highly recommend if you get personal financial advice understanding that this is general advice only. ##robgoudie##financialadvice##superannuation##investing##mortgage

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.