Q & A
Chris and Vicki should reach their goal if they ...
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Q My partner is 51 and earns $70,000 and has super of $200,000. I am 42 and earn $62,000 (I work at a not-for-profit and salary package $18,550), plus investment property income of $18,000 with superannuation of $160,000.
We bought our principal place of residence, now worth $725,000, three years ago. My partner has a mortgage of $190,000 with $20,000 in an offset account and I have a mortgage of $435,000 with $40,000 in the offset account. We make weekly repayments of $266 and $606 respectively and salary sacrifice $200 and $250 respectively each week into super.
I have two investment properties (both bought long before we met and purchased our own home): one worth $370,000 ($50,000 mortgage and $17,000 in offset) and the other worth $500,000 ($170,000 mortgage and $85,000 in offset).
Both investment loans are interest only and payments are monthly. I had mistakenly made a payment into a redraw account before moving to a new bank, so transferred this amount to an offset account. From what I understand, I can’t use
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