Offset accounts can be a powerful tool because they help reduce the interest charged on your home

Offset accounts can be a powerful tool because they help reduce the interest charged on your home loan. However, it’s important to understand the risks before using that money for other purposes. While banks may allow you to access those funds and invest them, it’s essential to remember that using borrowed money or home equity to invest introduces another level of risk. Investments can rise and fall, and when debt is involved, market movements can have a greater impact on your financial position. Before using funds from an offset account or accessing equity, it’s important to consider your goals, risk tolerance, and the long-term impact of taking on additional debt. Understanding the role of debt in your financial strategy can help you make more informed decisions with your money. General advice only. Consortium Private Wealth AFSL 495401

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.