152. Debt Recycling
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discussed the concept of debt recycling, a financial strategy that allows individuals to pay down their non-deductible debt, such as a home mortgage, while simultaneously investing to build deductible debt, which can provide tax benefits. The strategy involves using equity from one's home to invest in income-producing assets like shares. Over time, the income generated from these investments is used to pay down the non-deductible debt, while the investment debt increases, effectively converting...
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151. Should I invest or Pay Down Mortgage
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discussed the dilemma of whether to pay down a mortgage or invest, especially in a high-interest rate environment. We emphasize that there is no one-size-fits-all answer and that the decision should be based on individual circumstances, financial goals, and risk tolerance. People should consider their long-term financial strategy, including their retirement goals, and factor in the potential impact of inflation and tax implications. While paying down a mortgage offers a guaranteed return, we suggest...
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150. Make Your Strategy Recession Proof
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss making your investment portfolio recession-proof, emphasizing both mindset and practical strategies. We explore what a recession entails, highlighting the importance of maintaining a stable personal budget and having an emergency fund to cushion against economic downturns. We dig into the significance of not panicking and avoiding rash decisions like panic selling. Instead, we recommend focusing on long-term goals and viewing downturns as opportunities to buy quality assets at a discount....
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149. Mastering Your Retirement Plan: Financial and Lifestyle Strategies
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss retirement planning considerations, emphasizing both financial and lifestyle aspects. We explore how traditional retirement perceptions, like relying on age pensions, are evolving. We highlight the importance of budgeting and understanding income needs based on lifestyle choices and activities during retirement. We address the transient nature of retirement, where individuals might transition from full-time to part-time work before fully retiring. Lastly, we emphasize the significance of...
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148. Wealth Preservation Strategy
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss investing in precious metals, including gold, silver, platinum, and palladium, and how they serve primarily as a store of wealth rather than a traditional investment. We address a common question from listeners about whether they should invest in precious metals and explore various ways to purchase and store these assets, such as physical bullion, ETFs, and investing in mining companies. We highlight the importance of understanding the liquidity and transaction costs associated with precious...
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147. Market Wrap
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! We are back again with our monthly ‘Market Wrap’ segment. In this episode, we discuss the latest market activities, focusing on the U.S. and Australian economies. We note that the S&P 500 decreased by 0.77% in July, though smaller companies showed growth due to sensitivity to lower interest rates. In the U.S., potential interest rate cuts are anticipated as inflation eases, while Trump’s potential election could impact economic policies. Europe sees economic uncertainty with the ECB keeping rates unchanged at 3.75%. In...
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146. The Benefits of Commercial Property Investment
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, Vicki Likoudis from True North Advocacy shares her diverse background in small business, property development, and advocacy, emphasizing the link between business and commercial property in her career. She discusses different types of commercial property while highlighting the key attributes of commercial property: better cash flow, tenant-paid expenses, longer leases, and potential for capital growth, which set it apart from residential property. Vicki explains the benefits of using a commercial buyer's...
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145. Average Super balance For Your Age
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discussed the average super balance for your age, highlighting the importance of starting early and making regular contributions. We break down the average superannuation balances for males and females in various age groups, from 25-29 to 60-64, and emphasize the power of compounding interest. We also explore the potential retirement income that different superannuation balances could generate, considering factors like lifestyle and estate planning. Furthermore, we encourage seeking financial advice to...
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144. Considerations When Buying Investment Property
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discussed the important considerations when buying an investment property. We emphasized the need to align the property purchase with long-term financial strategies and goals. This includes understanding the financial impact on household budgets, getting finance approved, considering the pros and cons of different ownership structures, and knowing the potential cash flow implications. We also highlighted the value of professional advice, such as using buyer advocacy services, and the importance of...
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143. What To Do With Stage 3 Tax Cuts
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discussed the upcoming stage three tax cuts and how individuals can effectively utilize the extra income. We touched on how the tax cuts will result in increased take-home pay. We advised considering several options for using this extra income, such as making mortgage repayments to save on interest, investing in superannuation for long-term growth, saving for future expenses like a child's property deposit, and considering macroeconomic implications like inflation. We emphasized the importance of...
info_outlineHello and welcome back to the 360 Money Matters podcast! If you’re a first-time homebuyer that wants to break into the real estate market faster, then listen in on this episode! The biggest barrier for most first home buyers is usually the deposit that you need to put down on your first home. So enter this government initiative to help you accomplish just that.
The First Home Super Saver Scheme is a savings vehicle with tax benefits, helping a lot of first home buyers get started in real estate. In this episode, join us as we talk about the potential this plan has to work in your favour! We will help give you an understanding of how this scheme works, some of the benefits associated with this as well as some key things that you should consider before embarking on this strategy.
So be sure to join in on our conversation as we maximise your contributions and get you that first dream home!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• Introduction to First Home Super Saver Scheme
• Requirements to be eligible
• Tax benefits that are available
• The restrictions on contributions & withdrawals
• Concrete examples of using the FHSS scheme
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