Because we offer both mortgage broking and financial planning to our Perth area clientele, we are in a unique position to answer a question that a lot of people have: is it better to put your extra money in your super or your mortgage?
Recently, this issue was discussed on news.com.au in an article called, “Weigh your super and mortgage to see where it’s best to put your money.” In the article, some industry experts were quoted about various strategies to figure out where to put your extra money. *
At Approved Financial Planners, we aren’t allowed to provide anything on this blog that constitutes or can be interpreted as “individual advice.” All advice has to be given on an individual basis. This is usually done in person, after we gather some basic information from you.
The article we described above is a perfect example of why advice is best given in person after becoming acquainted with your financial situation. The only thing the “experts” seemed to agree upon is that there isn’t any “silver bullet” answer.*
According to the writer of the piece, Anthony Keane, the best way to make that decision is to take numerous factors into consideration, such as your income tax bracket, your age, your debt level and your lifestyle needs, both currently and in retirement.*
Call Approved Financial Planners Today
At Approved Financial Planners, we offer both mortgage broking and financial planning. This allows us to give objective, unbiased feedback to our Perth area clients, depending upon their individual financial situations.
There are many factors that can come into play. If we compare your super to your home loan, we may find that one or the other is easily determined to be the most important to pay into first.
To learn more or for a personal consult, call us today: 08 6462 0888.
*News.com.au. “Weigh your super and mortgage to see where it’s best to put your money.” 3 September 2015.