Extra mortgage repayments or extra super contributions? It’s worth looking beyond the interest rate
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Extra mortgage repayments or extra super contributions? It’s worth looking beyond the interest rate. Paying down your mortgage saves interest, while putting pre-tax income into super may offer tax advantages and help build your retirement savings. But a tax saving on a contribution isn’t the same as an annual investment return. Super returns fluctuate, contribution limits apply, and your money generally stays locked away until you meet a condition of release. The right balance depends on your tax position, mortgage rate, access to cash and retirement goals. As retirement gets closer, it’s a comparison worth revisiting. 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.
The information provided in this article is general in nature only and does not constitute personal financial advice.