Has anyone paid off their ips and used the snow ball effect ?

I do this as well but i have 2 seperate offset accounts 1 for personal and 1 for investment. lately i've been thinking is there really any point for this. so you just have the 1 offset for both?

 

Most of them are investment accounts.

I do use a personal offset but the amount of money flowing through it is not as large just monthly living expenses. The larger amounts are money which flow to investment offsets.

 

No point in having 2 from a tax point of view. In fact you would be losing tax savings if you have non deductible debt.

But it can be a good idea to segregate money in different accounts as a saving or budgeting strategy.

 

Might be good....remember that the Federal Govt guarantee is 250k per person for each financial institution.

Also from a risk management perspective better not to have all the cash in one account...just in case rules change/policies change over time and they can reach into your offset of worse still close this off.

More a risk management strategy than anything else...

 

what i meant is i have 2 offset accounts both against ips as i don't have a ppor 1 is for my personal income / out goings and the other offset is for rents / out goings.