Terrified

Hi Scott,

By husband and I have $130k owing on our home, which is worth about $500k. We are in our mid-40s and only have around $300k combined in super. We are now thinking of purchasing a house-and-land package for $450k to rent out as an investment (and tax offset), but my mother says ‘no, pay the house off first’. I feel we have been too conservative with our money, and I am terrified that time is running out. It is time to take action, but what is the best thing to do?

Carla

Hi Carla,

I agree with your mum. Though that being said, what your mum or I think doesn’t really matter. What matters is that you and your husband decide to behave like grown ups and own your own freaking decisions. Know this: in all the years I’ve been doing this, the people who make financial decisions based on feeling ‘terrified’ or out of fear that ‘time is running out’, almost always live to regret it.

Scott