Interest rate risk for the under-40's

Setting the tone here, I totally agree with you on this point.... especially self inflicted.
While I wasn't planning on building a granny flat at the back of my own house, I am worried about my kids being able to buy in Sydney in the future when they are old enough... so much I am willing to buy something now and pay it off over time.... and sell it back to them a the price i buy it for now.

But your self inflicted comment has hit home.... and i have to say is &$$%@@@#$

So question to you, do you have kids, if so, any suggestions? (Pre kids my thoughts were the same as yours, even now it has the same thoughts... with the exception of when it comes to my kids...not ideal, but damn hard to separate).

 

Forget the kids for now, just work on yourself. If you set yourself up well then you'll be in a position to help them in the future when the time comes. I've set up a savings account for my kids but only because we were given money for them from friends and relatives for birthdays, baptisms etc. Frankly, I reckon it is a waste of time. Earns bugger all interest and what does it teach them? Nothing! The key is to raise your kids so they understand money and learn from seeing you investing. Lead by example and they'll get it. They will take the Pepsi challenge and buy their own home in Sydney.

 

Spot on teach by example, mine have started to ask about trusts, well one is learning this as UNI so is only now interested. The other keeps asking why they cannot 'save' enough to become rich.
Just talk everyday a little bit about finances, what you do, about personal development, it honestly will do wonders when they grow up.
My would often come from school and debate such issues...
The one I often use and like the best is Jim Rohn's quote, when often they dislike something, wether it's their new teacher, whether they don't like the food I made, so I say to them, "If you don't like it than change it, you are not a tree!". I think by now they know there's no point in complaining... it worked!

 

So what is the advice if they don't like their new teacher?

 

Next year they will have a new one, and if you cannot change things out of your control, change yourself, right?