Q&A
Newly married Scott wants to plan for the future so ...
Buy while the market is flat
Q My wife (28) and I (30) are recently married and looking at investment options. I own the property we are living in, which I bought it as an investment three years ago and was negatively gearing until we moved in earlier this year. I owe about $220,000 on the mortgage (4.29% interest rate). Repayments are $1200 a month and we are paying $1600. I am studying (high school teaching) full-time and working part-time with plans to graduate at the end of 2020.
My wife is working full time, earning $97,000 before tax. She has never bought a house but has $80,000 invested in shares and $75,000 in a term deposit, earning 1.65%. We don’t plan to have kids in the next two years and are considering what may be our best way forward financially.
The options we are thinking of are to pay off the house using my wife’s shares/cash; look at using her shares/cash as a deposit on another house as we don’t plan on being in our
