money money money 749 what to do with $200k, salary packaging & HELP debt, mini property development & inheritances for grandkids
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Dec 2, 2024 Discover how to tackle HELP debt effectively by using salary packaging strategies. Learn about sub-dividing properties and the potential of leveraging a $200K windfall for big investments. The discussion dives into safeguarding inheritances for future generations and navigating the complexities of property development. Gain insights into cultivating a resilient financial mindset while celebrating community engagement through education. Perfect for anyone looking to make informed financial decisions!
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HECS Repayment Strategy
- Consider your overall financial goals before prioritizing HECS repayment.
- A larger HECS debt can reduce borrowing power, but also a smaller HECS debt can reduce your savings for a deposit.
Albo's HECS Proposal
- Albo's proposal to wipe 20% of student debt and raise the repayment threshold could lead to debt accumulation for lower earners.
- Freezing indexation for those below the threshold is crucial.
Mini Development Considerations
- Before subdividing, research comparable properties and conduct a feasibility study, including potential profit.
- Factor in a 5-10% buffer for unforeseen costs in development projects.
