Buy a home to live in.
As boring as that is it will help you in the long term.
this post was submitted on 08 Jul 2025
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Depends on your accommodation now, if you have cheap accomodation buy a rental, claim the interest as a tax deduction, do the DIY repairs and maintence on the place yourself, buy where you know the market, not some random far away town.
Maybe spend some on a better education PHd, Masters or whatever ? Should lead to higher income going foward.
Put some in Super and claim the deduction (check how much you can for your concessional contribution (current concessional cap- employer contribuitons = max amount) , nothing else like it to turbo charge that amount ; time and compounding interest and it reduces your tax by claiming the deduction amd forces you not to take it out.
Be frugal, keep saving and investing.
I started at 19 with shares and retired at 40, am now 60. So it depends what it is you want out of life ? i wanted my time to be mine to do as I want, i also had zero interest in having kids. My only regret in life was not retiring earlier. It really depends what you want out of life as well, ie buy a flash car, or whatever ?
I am NOT a investment advisor, so grain of salt.
This is the dream for me really. Alas I am nearly 10 years later to the starting line than you.
Approximately 30% of my income goes to cost of living and with the rest I'd say I invest about 30% and the rest sits in a HYSA at 5.2% interest. Generally pretty frugal while allowing meaningful trips and travel.
I find the home ownership pieces wildly daunting as I do not know the market anywhere and am a firm believer in "past performance is no guarantee of future success" so i remain skeptical of infinite growth in housing.
Anyways thanks for the thoughts mate!
I am not a financial or tax advisor, and none of the following is financial nor tax advice.
- Get a financial and tax advisor instead of asking rando's on the internet.
- Reduce debt. No credit card debt/personal loans. HECS etc maybe consider differently.
- House deposit, if home ownership is a goal.
- Super voluntary contributions and claim tax deductions, possibly up to 30K a year.
Good luck
I might buck the trend a little here: I did spend my early money on a house. However, I never travelled the world in those days. I have always regretted it.
If we're talking $100k in the 90's when I was actually 20-30, I could put $70k on a house, rent it out, set up with the rental income and $15k of my money covering the first year or so of payments.
Take the remaining $15k and go on an epic backpacking adventure around the globe.
$100k these days wouldn't be enough to do this, though.
2nd putting money aside for fun experiences. Doesn’t have to be much but saving for a house is a long, arduous, sometimes soul sucking process. It’s good to have those experiences first.
House deposit. Its a long ladder, the later you start the harder it is to climb.
House deposit 1000%
I got started at 29 and I am very lucky I did
Ex-wife.
The question is what would you spend it on. Not what you did spend it on. 😆
The question set me off and I was feeling a little spicy about it. 😂
100k to turn a wife into an ex-wife seems cheap
🥴
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