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Originally Posted by Kunama
Yes the 'home loan' is a necessary evil for most in society, the wise ones get it paid off as quickly as possible and to do that make many sacrifices.
Personally I worked shiftwork for 20 years as well as running a weekend business and spent very meagrely on 'entertainment' until my mortgage was repaid (30 yr loan repaid in 10 years).
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Too true. I hammered mine as quick as I could. I'm happy now I'm out of debt I have more options and help the kids. Imagine going into retirement with a mortgage.
Another thing great about this country is that banks will lend you money here so you do have the opportunity to buy your own place. Back home you get jack squat if you have no existing asset or a high paying job. People forget that they have it easy here.
Quote:
Originally Posted by Kunama
One thing for sure, you cannot and you should not expect that there will be an age pension to feed you in old age, sure there will be something so one won't starve but we should all plan for a self-funded retirement.
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I had that figured out when I was living in France. In oz you can setup SMSFs which is great, not that easy back home. I'll now have a better life in retirement that I did all my working life. Just worked my ass off. Looking forward to chill out and travel around with the missus.
