Inherited 1.6 Mil. How to Secure My Family Future

Ljohndough2020 on 27/09/2020 - 08:39
Last edited 27/09/2020 - 13:04

So I've just inherited $1.6 mil. How should I diversify my money to ensure my family future? I don't believe in financial advisor as "if they're so good, where are their yatch?"

Current financial position:

  • Cash inherited: AU$1.6mil

  • Cash saved: AU$200,000
    All cash assets are currently sitting in an offshore account with an annual interest rate of 7% for … tax purposes.

  • Shares in Commsec: $60,000

  • No house, Renting atm.
  • No other debt.
  • Lost job since April.
  • 1 wife 2 kids. I'm 29 yo and kids are 3 and 1.

Living in Auckland but looking to move back to Sydney when their border opens up.

Why asking Ozbargainer, because we're frugal with our money. Also I've been a longgggggg time lurker.

I'm thinking we need a house, but won't go and spend the whole lot on one house and that would be silly. What % should a house take up in my case but still have enough cashflow from the interest and dividend for a future proof recession?

Financial

Comments

  • nephilim on 27/09/2020 - 18:18

    Buy a cash converters or McDonalds, make wealth from low income people

    • DiscoJango on 27/09/2020 - 21:56

      i know plenty of wealthy people who go to maccas. hell even the worlds richest man warren goes to maccas all the time.

      • nephilim on 28/09/2020 - 14:26
        +1

        Warren buffet owned a large chunk of Dairy Queen, a McDonald’s rival

      • lostn on 29/09/2020 - 01:17
        +1

        if you've seen the amount of food he eats, there's a good reason his name is Warren "Buffet".

    • greatlamp on 28/09/2020 - 11:51
      +1

      You cannot just simply "buy" a McDonald's. They have standards… which is more reason to want to buy one

  • whooah1979 on 27/09/2020 - 18:27

    I’ve already posted this link before, but here it is again for those that can’t be bothered to click it.

    https://www.apnaplan.com/highest-interest-rate-on-bank-fixed…

    Top Fixed Deposit Interest Rates
    The highest interest rate on fixed deposit is offered by RBL Bank (36 months to 36 months 1 day) at 7.50%.

    https://www.bankbazaar.com/fixed-deposit-rate.html

    Best FD Rates in India among Top 10 Banks
    IDFC Bank offers the highest FD interest rate of 7.00% p.a. which is for a tenure of 500 days for the general public. For senior citizens, the interest rate is 0.50% more.

    Here is the RBI cash rate.
    https://www.rbi.org.in/

  • screensaver on 27/09/2020 - 19:24

    I saw a 7 bedroom house and two granny flats for sale today for 1m in Syd. Now thats a home and income

  • pav on 27/09/2020 - 19:27
    +1

    Read this website front to back. Tl;dr Put it in ETF index funds / bonds based on your risk tolerance.

    https://passiveinvestingaustralia.com/

  • Caped Baldy on 27/09/2020 - 19:43
    +4

    Not sure if anyone else has linked this but it is a FAQ from r/ausfinance and has a section on windfalls and inheritances. Best of luck.
    https://auspersonal.finance/

  • mlburnian on 27/09/2020 - 19:49
    +1

    did this dude really say that he has "1 wife"?

  • AsSeenOnTv on 27/09/2020 - 19:58
    +2

    Dude. I get those emails all the time and I am pretty confident you don't have a long list relative who has died and left you a small fortune, and hope you haven't sent some money to an attorney to help you claim it…….

  • nodo on 27/09/2020 - 20:02
    +1

    if you can keep getting the 7%, putting the lot in the offshore gives you income of 112,000 a year while you decide.

    • Zachary on 28/09/2020 - 19:25

      YEah! Why doesnt he do that, I wonder?

      • johndough2020 on 29/09/2020 - 05:13

        LEt's say my local currency goes down a bunch like Aussie did in March, I'll be stuck with no options to take advantage of it.

        • Zachary on 02/10/2020 - 19:44

          Oh I see….so the exchange rate is falling which is why you're asking what you should do about it instead of turning it into a lesser currency just for the higher interest rate but really when you exchange it over it's not much more or less than before!

  • Trying2SaveABuck on 27/09/2020 - 20:30

    OzFinancialfreedomadvice?

    Im sorry but this is bullshit and if it isnt you are an idiot for not getting professional advice

    But if you want advice from Randoms keep the 7% yield that is pretty good for low risk investing

    Get a job live like you didn't inherit anything, use the cash flow to buy a house and pay a loan you can get a loan at ~2% interest rate thus your cashflow pays itself off.

    If you dont want to buy a house i'd keep the 7% but if you want more Risk

    500k in VAS
    500k in F100
    500k in NDQ

    all well diversified EFTs once the 'post covid' bounce comes in you could make a lot more then 7% - DYOR - i advise talking to an advisor and an accountant

    if your not trolling congratulations your life will be easy financially from here on in

    • johndough2020 on 30/09/2020 - 10:17
      +1

      Will have to look into F100 and NDQ. Already have some in VAS.

      Cheers mate.

  • Orico on 27/09/2020 - 21:48
    +2

    I just saw my 21 year old Chinese neighbour pulling out of her apartment in a Lamborghini. I totally believe the OP because he's probably invested his funds in HK when he said 7% interest rate. lol

    • capslock janitor on 29/09/2020 - 00:32

      wow she's hot

      • Orico on 29/09/2020 - 00:44

        damn these young people have such nice cars.

  • jedimaster on 27/09/2020 - 22:22
    +2

    For the curious peeps, the country in question where the money is parked is likely Myanmar.

    I got 20k AUD invested in FD in an Asian country at 12.5% interest rate and pay 5% tax on the interest earned but this is in a micro-finance institution where my father-in-law is the treasurer so not everyone can invest in it.

  • striker5950 on 27/09/2020 - 22:39
    +1

    most comments on here bitching about where the bank is so they can send their money there. OP already said too much and is regretting it. he does not want to give up location of the bank country because he thinks it will make it easier for ATO to track his ass and nationality and zero in on him specially IP track and they will consult ozbargain to provide the registered email and IP logs of when the OP posted this deal under a tax dodging investigation case, . all in all i say the OP is F#&ked

    • mlburnian on 27/09/2020 - 22:54
      +2

      Liam Neeson is already after him

      • capslock janitor on 29/09/2020 - 00:33
        +1

        shoulda'used a VPN, that woulda stopped LN

    • Arthur Dunger on 28/09/2020 - 00:24
      +4

      Haha yeah the ATO are monitoring Ozbargain looking for John Dough.

    • lostn on 28/09/2020 - 01:23

      he's likely already thought of that.

      VPN + dummy email address.

      He's a new zealand tax resident, so the ATO isn't even interested in him.

    • johndough2020 on 28/09/2020 - 03:35

      If I'm f**ked then at least that's still more sex than I've been getting the last few years.

      • [Deactivated] on 28/09/2020 - 19:30

        Then you have more problems than your $1.6m dream lol.

        • johndough2020 on 29/09/2020 - 05:14
          +1

          haha never said that I don't have problems.

    • [Deactivated] on 28/09/2020 - 07:11
      +1

      "But what I do have are a very particular set of skills, skills I have acquired over a very long career, skills that make me a nightmare for people like you"

      literally the ATO right now

  • hoey888 on 27/09/2020 - 23:02

    All good great ideas to invest money (shares, ETFs, LICs), principal place of residence, and retirement.

    How would you and/or donor feel if a portion of that ended up with wife that decides to separate from you? I'm not saying she will but money can change people.

    You have a sizeable sum at stake should things go pear shaped. Well worth $ to get professional advice from accountant/lawyer/financial adviser.

    • lostn on 28/09/2020 - 01:24
      +1

      he said it's in someone else's name at the moment, so she can't touch it. But this someone had better be a person he can trust, and he better be a person they can trust, because he could be getting them into hot water if NZ govt finds out about it.

  • knk on 27/09/2020 - 23:13

    bitconnect

    • striker5950 on 28/09/2020 - 10:18
      +3

      wasu wasu wasu wasuuuuuaaaapppp bitchoneeeeeeeccccccttttttt

  • Ozbargainlyf on 27/09/2020 - 23:28
    +1

    i love yatchs

    • Griffindinho on 29/09/2020 - 10:03
      +1

      Peasant. Super yachts. Get on my level

  • justanick on 27/09/2020 - 23:29
    -4

    I usually never comment on threads like this but I couldn’t resist helping a mate.
    Stop what you are doing and invest in God and triple it or invest in drugs and make more. I would bet on God then investing in drugs but that’s just me.
    You say you are comfortable keeping your money in Asia that means you know how Asian ways of minting money.
    Go to south east Asia and open up a shop and pretend you have hotline with God. They would happily pay you by starving their family or steal from their neighbours to satisfy your hunger.
    Do this stint for 6 months then move to other states within the country finally go to adjacent country.
    I would start from India Nepal to Laos

    • Hybroid on 28/09/2020 - 01:11

      What on earth are you talking about?

      • Zachary on 28/09/2020 - 19:29

        He's talking about how various priests nad religious people ask for money to continue their faith in them…..since you know, faith's not free….

  • lostn on 28/09/2020 - 00:40
    +2

    with the amount of money you have, I think you can afford to pay for real financial advice, rather than asking people on a bargain site who chances are have never had this kind of money and wouldn't know what to do with it.

    A good financial adviser will help you make/save more money than it cost to hire them.

    • Logical on 29/09/2020 - 09:34

      A financial advisor with the minimum TAFE qualification that they require to pretend to be one?

    • whooah1979 on 29/09/2020 - 09:39
      +1

      Financial advisors are pretty much the same as Real Estate agents selling hopes and dreams. The only difference is that they have a bigger bag of products.

      • [Deactivated] on 29/09/2020 - 11:05

        My mate is a financial advisor, and has a double degree and an MBA.

        He really enjoys it, not all have the absolute minimum.

      • lostn on 29/09/2020 - 12:44

        I think at the very least they understand the risks of all types of investments better than someone chasing a $10 saving on a pair of headphones.

        They should also be able to advise him on the legality of his current investments and whether it's wise to continue doing it, or any complications in withdrawing the money.

  • mrvaluepack on 28/09/2020 - 00:45
    +2

    Dump it all on ASX:VDHG ETF and dont touch it till you retire. Easy end thread.

    • whooah1979 on 28/09/2020 - 00:53

      They are 0.08% YTD and only 5.58% on 5Y. OP is making more money from the interest.

      • pav on 28/09/2020 - 08:48

        VDHG is only about 3 years old so don't look at the 5Y. It's a well diversified fund, check the holdings it's got a bunch of other funds and is well balanced for set and forget (Aus shares, global shares, emerging markets, bonds, about 65% in Aud or hedged to aud). Over a 10-15+ year horizon one could expect average annual return of 5% after inflation and of course the longer you leave it the more it compounds.

        OP could just dunp all $1.6m in VDHG and forget about it for 20 years and they will have ~$4.5m to retire at 50.

        • whooah1979 on 28/09/2020 - 14:09
          +2

          I'll revisit this post in 20 years and see how this EFT 20Y stacks up with other instruments.

          Last price
          VDHG 53.45
          D
          AUD
          +0.46 (+0.87%)
          MARKET OPEN (SEP 28 13:38 UTC+10)

    • pav on 28/09/2020 - 08:53

      Best comment here. People seem to think because of the amount of money they need to actively manage it. For most people VDHG is going to be the option that gives them best return over the long run and is stress free manage.

  • ripesashimi on 28/09/2020 - 01:09
    +1

    Adopt me and you have a loyal servant who is willing to die do a lot of things for you. I can arrange financial advisor, tax accountant, lawyer and everything.

    • justanick on 28/09/2020 - 02:27
      +1

      I’ll do more if you adopt me. I’m happy to work as borderline slave. Just put my name on your will if not pay some money and go to a good FA.
      We are poor here we look for bargains. I get happy if I get a $50 discount

    • [Deactivated] on 28/09/2020 - 07:12
      +1

      Dont listen to these losers, I dont beat around the bush. Ill be your sex slave, no questions asked

  • morse on 28/09/2020 - 06:36
    +1

    Buy a house under $1.5m (in Sydney that’ll mean outer suburbs). You could also consider living somewhere cheaper if you can find work and would enjoy the place.
    Keep at least $100k buffer
    Move half from the overseas account back to Aus (the overseas account sounds risky to me)
    Keep working on getting a job or depending on your skill set start a small business.
    If you’re having trouble finding work consider further education or specific upskilling that will make you more employable or get you into an area you enjoy.
    Live rent free and work to pay expenses and save for the future.
    Once you’ve got income coming in again, enjoy holidays etc with your family.

    That’s what I’d do in your situation - basically a plan for a comfortable financially secure life.

    • [Deactivated] on 28/09/2020 - 07:13
      +6

      This, investing and doing all this other shit sounds stupid

      Buy a house, get secure, worry about everything else afterwards. You have a wife and kids im sure they would rather settle down in their own house not some shithole rental which you could be tossed out of at the end of a lease.

      What a stupid idea to have all this cash but continue to be a renter

  • ph4007 on 28/09/2020 - 07:26
    -1

    I would buy property with the potential to improve.. buy in a good established metro location around $1m, do a live in renovation, then sell and move on. Live off your spare cash along the way. Look to make around $200k in 12 months per property. Spend $100k and sell $300k higher per property. No capital gains tax because you are living in it. You can't borrow as your income is not there. Get in and get your hands dirty. Find some good tradies and pay them fast… Ask for deals for paying them in advance. Be on site all the time. Labour with them, go to the hardware for them, etc. Be super annoying so they want to finish quick, get the next trade in etc. PS helps if you have an idea about property…. And like hard work.

    • JelIyfish on 28/09/2020 - 14:08
      +2

      That sounds like a terrible idea.
      $100k isn't going to go far when renovating and it is very speculative to believe spending $100k will add $300k value.
      The guy has just come into $1.6m, I doubt he wants to drag his family into living in a construction site.
      Fast forward 12 months and you might be trying to sell a place that cost closer to $1.2m when adding stamp duty and if there is a further downturn in the market you might only get your $1m back.

  • Hedgehog on 28/09/2020 - 07:48
    +1

    "I don't believe in financial advisor"……….. but I trust you guys who mostly probably have no professional financial advice qualifications to increase my fortune. Really johndough2020 if you are for real you do need advice but not from us.

    If you have a trusted solicitor or accountant, see who they would go to but do ask them if they are getting a kickback from referring you… It is a bit like going to a broker - you want the best for you, not the best kickback for the broker. Quite surprised that the solicitor who paid out the estate did not attempt to get someone to assist you

    As I said if you are for real you do need to sit down with an advisor, won't take 5 minutes, they will need to be aware of your whole situation to be in a position to give you impartial professional advice. With your move from NZ to OZ your situation may be more complex than what you think, for example finding an accountant either side of the Tasman who knows both OZ & NZ tax laws is not easy or cheap.

    Good luck with what you decide.

  • Duckie2hh on 28/09/2020 - 08:00
    +2

    Provided it suits your risk profile, I would keep the 7% and hold as is. Seeking a higher growth would be a challenge, even with Aus properties,.

  • Boogerman on 28/09/2020 - 08:42

    I’d invest in Tesla. Within 10 years they will be the largest company (yes, worth more than $2T Apple). Within 4 years they are estimated to be $1400/share, which would make them ~ $1.3T or a return of 250%. That prediction has been made by Ark Invest who have been the most accurate fund manager of Tesla. Actually, their share price has grown faster than even Ark Invest predicted.
    If they manage to snag Level 4 autonomy & hence a robotaxi service, they are predicted to be worth $3K to $4K per share (value ~ $3T to $5T) & a return of 600% to 1000%.
    Tesla is up close to 10,000% since their IPO in 2010
    Just note the obvious that your share purchase is subject to exchange rate fluctuations
    And as for the expected ignorant responses to this post, most don’t have a clue of Tesla’s business, history or fundamentals

    • S Padival on 28/09/2020 - 11:46

      Haha. I was about to suggest this. Decided to give a more general not-a-financial-advice. ;)

      I am 100% invested in Tesla since 2016. Have taken out twice the original investment in cash and keeping the rest forever.

      • Boogerman on 29/09/2020 - 00:12

        2016 was about $150/share (or $30/share in post split price)?

  • saltypete on 28/09/2020 - 09:14
    +2

    I agree with you, you sound like you don’t need a FA to tell you the obvious, or try to steer you to their commission. If you are able to save and have financial savvy you probably only need a good experienced tax advisor of some sort.
    Have you considered your interests as a couple? With this money you can have some flexibility and invest in education, experience etc.
    Buying a family home in the location that suits you is usually a good option that builds wealth. If unsure rent for a while when you get to Sydney. Get on with life, but balance risk with return and set for a longer haul. You don’t need to risk your money to get that last $k or so.
    I think that you will find that being able to live mortgage free will open up your options and this is a wonderful thing that whoever has left you this money has gifted you.

    • leiiv on 29/09/2020 - 16:08

      Where can we find a good tax advisor? The one as smart as those who are used by Google, Amazon, etc?

  • [Deactivated] on 28/09/2020 - 09:21

    You can't use money to secure or buy yourself a future. The future has yet to occur thus if you were going to give it a value it would have to be ZERO meaning technically the future is actually free, no money required…

  • jv on 28/09/2020 - 09:23
    +1

    I don't believe in financial advisor as "if they're so good, where are their yatch?"

    https://www.urbandictionary.com/define.php?term=Yatch

  • Candour on 28/09/2020 - 09:26
    -1

    be careful. the tax man will catch up with many. get advice. plan for an estate lawyer and set up a discretionary trust for all of you. [3 generations] if you come back to oz, then put the max in super for each adult. all complex issues.
    all will cost money.
    you cannot know all this and work in your best interests.

  • theUnderdog on 28/09/2020 - 09:30

    I would say buy a house in a good location with a good public school. That guarantees the future for your 2 kids. You would spend all those 1.6 mil for the house if you decided to stay in Sydney. If I were you, I will head to Melbourne (after COVID19 lockdown of course) or Adelaide where house price is a bit more reasonble. Let say spend 1 mil to buy a house, 600K on an investment property so you have some cashflow. Then just enjoying life

  • brad1-8tsi on 28/09/2020 - 10:08
    +1

    I'd suggest you do some research on the FIRE (Financial Independance, Retire Early). If you like working then don't worry too much about the retire bit.

    Pesonally, I don't get the whole "secure my families futeure, leave a legacy for my kids" thing. I figure if you look after yourself and your partner the kids will benefit eventually.

    It depends on your life stage but personally, aged 57, when i got an inheritance in 2018 and downsized housing at the same time I:
    1) Secured my housing
    2) Maximised my pre-tax and post-tax superannuation contributions in preparation for a tax-free draw down from age 60 onwards.
    3) Put some cash aside in a high interest account for when times got tough (no, it doesn't keep up with inflation but what can you do?)
    4) Bought more shares
    5) Had some fun with it

  • Waltervp on 28/09/2020 - 10:11

    Most of the replies im reading are a waste of time… i am not sure what i would do, but 1.6M doesn't go that far in a big city. However, in a place like Tasmania where I am you could comfortably buy 3 beautiful homes and keep a spare 200k for fun, live in one and rent out the other 2. Ballpark figure in say Devonport you'd be looking at $400/week rent for both rentals, and $800/week inflation proof is nice income. Since you don't have many deductions chances are you'll pay tax on it, but still…$40k pa inflation proof income is pretty nice pocket money and the security of having a home to sell if ever you really need $$.

    If you are smart about it you go to your accountant and set up a family trust or self managed superfund and do it through that to avoid immediate taxes. It means you can withdraw money forba car or holiday whenever you need.

  • OzHunterNSW on 28/09/2020 - 10:43

    Sounds like it will all disappear this time next year…. unless you get smart and seek the advice of a professional accountant.

  • petry on 28/09/2020 - 11:16

    leave au

  • [Deactivated] on 28/09/2020 - 11:21

    All cash assets are currently sitting in an offshore account with an annual interest rate of 7% for … tax purposes

    Cash inherited: AU$1.6mil
    Cash saved: AU$200,000

    looking to move back to Sydney when their border opens up.

    Well first declaring the money is one thing, but the ATO will always be on your back in regards to offshore investments, I could definitely mention a few ideas, but can't..

    But as stated ︵└(՞▽՞ └) Australian government doesn't like high achievers, or those richer then them… There's no real benifits buying into australia with that amount, it will be eaten up by tax and fees if you cannot declare it as gift…

    Oh don't forget the filthy landtax fees in Australia(putting all your money into a house for children who reach a certain age is probably one way to take a lot of heat away, as it's not classed as liquid assets)

  • Hangryuman on 28/09/2020 - 11:29
    +1

    it's the best time in living memory to be a tenant who can afford to pay rent

    your pick of better newer properties with more fancy facilities for rents heavily discounted since February.

    so many empty places now - so I wouldn't rush to buy when its a great time to rent

    some old advice I liked - 'consider wisely and well - and when the opportunity presents - act with alacrity !'

    meaning - take your time to learn how best to invest - I got some tips from a millionaire yesterday - he only lost 'a few million' in the COVID crash

    and when you feel knowledgable and ready - jump in for a bargain. No bargains around now to buy - but plenty of bargains in rental places.

    and while you may feel $1.6M is a shipload of money - that can disappear in a flash if you make a mistake in your judgement - so be careful - Rene Rivkin's Rule Number 1 - 'don't lose money'. Rule Number 2 - 'see Rule Number 1'

    • [Deactivated] on 28/09/2020 - 11:47

      I wouldnt be taking any advice from rene rivkin the criminal. Even if it were true.

      The guy is rich and famous for breaking the law.

      • netjock on 28/09/2020 - 16:17

        The guy is rich and famous for breaking the law.

        And writing stock newsletter that charges you a thousand a year because it is so good that they won't keep it to themselves and put their own money on the line.

  • S Padival on 28/09/2020 - 11:41

    Never ever go to a financial advisor. They will rip your face off.

    I would invest in a few blue chip stocks, preferably US ones, Or even ETFs that track the index. Your circumstances may vary.

    Also note that ATO can now allegedly keep track of your overseas assets/transactions. So pay your taxes and don’t get into trouble.

  • superuser on 28/09/2020 - 12:01

    you say you like working,
    1. buy a rural land farm, has more wives and more kids (maybe 12, aus & nz need more people)
    2. buy 2 more houses in cheap location,
    2. buy gold
    3. learn or study something you like

    i don't trust the bank in that country (where i'm from), i don't believe you put all? your money in that bank,
    your money could disappear overnight, and tell me what you can do?

    always has a backup plan mate

  • dylan345 on 28/09/2020 - 13:42

    Buy a investment house near where the top earners in Sydney live/work with a 20% deposit with a offset account attached to it from a low fee lender i.e. loans.com.au and live in it for 12 months then rent it out.

    Then buy another property where you want to live forever with also another 20% deposit but this on a standard low fee unlimited pay down and redraw loan.

    Keep 6 to 12 months living costs in your offset account as emergency money, with the remaining money pay down your personal home loan but then redraw on this to buy an exchange traded mutual funds called VDHG or A200. (debt recycling your primary place of residence)

    With the offset account use it as your main account and get a zero fee credit card for your everyday expensiveness, levy, council rates ect ect and have this automatically payed off before interest is accrued.

    You now have a Australian diversified tax effective investment strategy that uses long term and short term leverage, negative gearing, debt recycling, international and/or Australian shares, franking credits, two tax deductible properties and gives you a emergency fund.

    you can also so some stuff with trusts but that would depend on your family structure

    • netjock on 28/09/2020 - 16:09

      Even if he has enough capital how is he going to get a loan when he is jobless? 80% of a $1m loan would probably require income of $150k to $200k

      • mini2 on 28/09/2020 - 18:23

        There's low/no doc loans for this. You pay through the roof in terms of interest rates.

        • netjock on 28/09/2020 - 18:24

          No wonder it never makes it onto ozbargain!

      • dylan345 on 28/09/2020 - 20:40

        You might be surprised how much loan serviceability
        Some lenders will give a a fair bit on capital, current rent and predictable rental income without insane interest rates. I did assume this person was going to find work though as I didn't think 1.6mil alone would not be enough to support a family forever in Sydney.

        • netjock on 28/09/2020 - 22:05

          Just because the loan sharks, I mean banks offer you a maximum of $x doesn't mean you should take it. Even rich people are smart enough to condemn themselves to having to try to get richer to keep up with Richie Rich who unfortunately is also accepting a lot of credit from the loan sharks.

          How much Australians want to box ourselves in is up to them.

          What I also enjoy the tax deductibility of loan interest.

          Unfortunately back 10 years ago when interest rates were say 6% and houses were half the price on $500k loan you'll have $30k deductible.

          Unfortunately now at $1m but interest is sub 3% you'll have $30k deductible. Suddenly to think you're just being poor having to pay off the principle. Have fun spending 30 years paying off your principle.

  • releasethekr4cken on 28/09/2020 - 15:03
    +2

    Buy a heap of RTX3080s

  • kaleidoscope on 28/09/2020 - 16:21

    saving my popcorn from this one

  • hothed on 28/09/2020 - 17:15

    Invest in superannuation, use the bring forward rule.
    I believe you said your family income was ~150k-180k? Thats enough to live off.

    Max out super using the bring forward rule and then max out $25k each year. It's only taxed 15%, compared to your tax bracket (37% + 2% medicare).

    • LFO on 28/09/2020 - 17:33

      Invest in superannuation, use the bring forward rule.

      But do some time travel into the future before to know how Super will be in +40 years … That will be 2060 …

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