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749 what to do with $200k, salary packaging & HELP debt, mini property development & inheritances for grandkids
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!
48:04
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Quick takeaways
- Effectively managing HECS debt entails understanding salary packaging impacts on tax and liquidity for better long-term stability.
- Engaging in mini property development necessitates thorough feasibility studies to assess costs versus potential profits and risks.
Deep dives
Strategies for Managing HECS Debt
Managing HECS debt effectively is crucial for personal finance stability. Salary packaging to pay down HECS can seem appealing, but one must also consider the long-term impact on overall tax and liquidity. Reducing salary sacrificing could potentially lead to a higher take-home pay, which can then be strategically invested elsewhere. Understanding the changes in indexation rates and how they affect repayments is essential for making informed decisions about debt management.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode