Where to go...

Discussion in 'Share Investing Strategies, Theories & Education' started by hen.sl, 19th Dec, 2021.

Join Australia's most dynamic and respected property investment community
Tags:
  1. hen.sl

    hen.sl Active Member

    Joined:
    17th Jan, 2021
    Posts:
    32
    Location:
    Brisbane
    I am unsure where to go to get unbiased advice. I sold an IP and now have cash in a bank account. I don't particularly want to jump back into the property market as I am uncomfortable with the prices at this stage. But...what to do with the money? There is a lot and it is just sitting in an offset account against my mortgage. I have been to a financial planner years ago but later found out he probably wasn't an unbiased person. So what do you do and where do you go?
     
    hen.sl, 19th Dec, 2021
    #1
  2. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    14,014
    Location:
    Brisbane
    We are pondering this exact situation. Sell one IP and put money somewhere else, into superannuation using the three year bring forward rule, set up a SMSF, or maybe do nothing and don't sell the property because making a decision is just too hard...

    Jason is our insurance broker but he's also a financial adviser and we plan on taking our "what do we do?" question to him next year to help us make a decision.

    I have no link to Jason apart from being a very satisfied client of his in the insurance area for many years.

    Image 19-12-21 at 2.50 pm.jpg
     
    wylie, 19th Dec, 2021
    #2
  3. Shazz@

    Shazz@ Well-Known Member

    Joined:
    24th Jun, 2018
    Posts:
    1,310
    Location:
    NSW
    Perhaps diversify? Have you through about ETFs/Lics?
     
    Shazz@, 19th Dec, 2021
    #3
  4. Chris Au

    Chris Au Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    1,247
    Location:
    NSW
    There's a lot about your situation that we don't know, and the biggest thing, is your comfort level. Any comments would be based on your age, other debts/assets, comfort with investing in other classes, your plans...

    I was in this situation after selling recently. I was 1000% going to bolster my ETF portfolio until interest rates increased (say 2024-2025) to put it into the non-deductible mortgage, but then I considered tax implications of selling shares and worked through where I want to go/be in a few years time, and the non-deductible mortgage benefited.

    As @wylie said, it's best to sit down with someone to unpack things you probably haven't thought about....
     
    Chris Au, 19th Dec, 2021
    #4