932 car upgrade, $950k income, house & land investment panic, paying for a wedding + more
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How should a $950k household decide whether to buy a home or keep renting?
Today in the show, it is a wild one. Someone's got a whopping 950k per year income. They don't know what to do. Uh bonds in a portfolio. Should we have bonds in a portfolio? We're talking about buying. investment properties that are brand new off the plan house and land package all that stuff Um Gonna talk a bit of car action, investment platforms. And also, um, how do we fund a wedding that has popped up Out of nowhere. Okay. Bit of a wet uh wedding out of nowhere, kind of, but there is a story there. I am joined by John Pigeon, host of the This Is Property show here on YouTube as well. Johnson, hello. Hello
Glenn.
Thanks for having me on here again. Hey, it is your pleasure. What do you think of the new music? It's a bit of a vibe, isn't it?
I'm hearing it loud and clear. Yeah.
Which we put it in post. So uh look, let's get right into it. I'm gonna ask uh I'll read you this question from Ryan who emailed in a question. My wife and I make nine hundred and fifty K a year. I make seven fifty K and she makes two hundred K. We don't come from much, so this is new to us. Doing pretty well. It's a lot of coin. I'll try and be happier for it to be new to me. We save around sixty to seventy percent of our income net. We have about one point eight million in cash and shares, plus seven hundred K in super between us, and maxed out concessional contributions. The cave it is, I work in sales, so while a few good years have been good, my base is twenty percent of this. So I'm not guaranteed to make this money every year.
We want to buy a house slash retire early and have enough to live comfortably. If we buy a house with cash or get a mortgage and invest the money. We currently rent for nine hundred a week, no kids, no pets, and a thirty nine years old Johnson. So I I actually talked about this the other week on Monday Night Money.
Right.
Which is our Monday night live YouTube show. Um I just sit here for an hour and hang out with people. But I was driving home, you know when you like you answer a question, you're like, Oh, I'm such an idiot, I didn't think of this. So what what are you saying to Ryan if they walked into your orifice? Yeah. Well, great, great position. Well great, great position.
Obviously, that's uh goes without saying, isn't it? It's an unbelievable position to be in. Never have to worry about money again unless you make a horrendous mistake with it going forward. But look, shouldn't have to worry about money again. So they're really f first world problems, aren't they, that we've got here. Um I think a couple of questions that Ryan uh will need to answer. is how much are we going to spend on our principal place? Where do we wanna live? How much is it going to cost us? Because if it if it's one point eight, let's call it one point eight as our purchase price Go and buy it. No mortgage. And then you can continue investing after that, pull some equity out and go and have some fun.
Yeah. You're saving probably, I don't know, three hundred K a year? Um income?
Yeah, they're probably saving four hundred.
You reckon with tax uh Well no, so after tax,
his income will be about four thirty plus her net income being one forty, that gives us five seventy times what are what are you gonna do? They could be saving, yeah, three fifty to four hundred. So
yeah, if we say three fifty is a worst case, like you can continue just to invest in shares with that sort of money because you've got no mortgage to worry about. Yeah. Uh and if you wanted to invest in property, you just um recycle some equity back out of out of that mortgage. But it doesn't make sense to me to have much of a mortgage. If any at all. No. Um unless you unless you Yeah.
It's buy a house and get on with it. You've got to buy a house, don't you? Yeah. So one of the things, John, when I was driving home after the Monday night money See how you've probably you can't see it at home, but I've highlighted a bit there, right? One thing I didn't actually pick up on And there's so much we don't know about this situation. But What what's the split between one point eight million in cash and shares?
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Chapters
8 chapters
1
How should a $950k household decide whether to buy a home or keep renting?
0:06β8:09
2
Should bonds be included in a highβincome investment portfolio?
8:09β15:44
3
Is buying a houseβandβland package a smart investment or a mistake?
15:44β24:57
4
Whatβs the best way to fund a wedding β sell shares or use mortgage equity?
24:57β33:40
5
Which car upgrade offers the best value for a 30βyearβold with a high income?
33:40β41:38
6
How can you evaluate and choose a super fund recommended by a financial adviser?
41:38β48:36
7
What are the key considerations when planning a property purchase in Sydneyβs suburbs?
48:36β57:12
8
How much of your portfolio should be allocated to bonds at different ages?
57:12β1:03:28
Speakers
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