Hi, I moved to Australia two years back. Have been doing a lot of reading on PIA lazy koala site. Just thought of letting it out here and getting some advice, if any.
Both spouse and I are 35 years. Two kids. About to purchase first home. 775K loan at 5.98%.
My super is at 20K at ANZ (reason being the insurance I get is cheap due to employer preferred super). Current allocation is 54% - global equities, 36% australian equities, 6% global small company equities, 2% australian fixed income, 2% global fixed income.
Spouse super is 2K (just started working) in Awaresuper in high growth indexed option.
Currently the combined net income is 11.5K. With a mortgage (assumed it would be 4.8K) and with the current expenses this leaves me about 2K to save per month. Fortnightly, I have arrived at 950 to save.
Out of that 950, calculated it would need 415 additional super contributions for a good retirement. Calculated based on asset method in PIA on current expenses and a 4% historical rate of return.
Currently, investing 100 on an employer stock plan. For the rest out of 950, thinking of 250 in offset, and 185 in ETFs. Have an account in CMC markets and as a start thinking of going fully BGBL.
Would very much appreciate your thoughts on above.