House deposit. Its a long ladder, the later you start the harder it is to climb.
this post was submitted on 08 Jul 2025
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House deposit 1000%
I got started at 29 and I am very lucky I did
Ex-wife.
The question is what would you spend it on. Not what you did spend it on. 😆
The question set me off and I was feeling a little spicy about it. 😂
🥴
100k to turn a wife into an ex-wife seems cheap
Land
I might buck the trend a little here: I did spend my early money on a house. However, I never travelled the world in those days. I have always regretted it.
If we're talking $100k in the 90's when I was actually 20-30, I could put $70k on a house, rent it out, set up with the rental income and $15k of my money covering the first year or so of payments.
Take the remaining $15k and go on an epic backpacking adventure around the globe.
$100k these days wouldn't be enough to do this, though.
2nd putting money aside for fun experiences. Doesn’t have to be much but saving for a house is a long, arduous, sometimes soul sucking process. It’s good to have those experiences first.
I am not a financial or tax advisor, and none of the following is financial nor tax advice.
- Get a financial and tax advisor instead of asking rando's on the internet.
- Reduce debt. No credit card debt/personal loans. Reduce/offset property loans. HECS etc maybe consider differently.
- House deposit, if home ownership is a goal.
- Super voluntary contributions and claim tax deductions, possibly up to 30K a year.
Good luck
House deposit and begin paying it off. TAFE fees. Dental work or saving for future dental. Or just have it as a safety net while continuing to work and try to amass more. Reliable secondhand car to open up more job opportunities.
Very boring survival mode goals, sorry
Depends on your accommodation now, if you have cheap accomodation buy a rental, claim the interest as a tax deduction, do the DIY repairs and maintence on the place yourself, buy where you know the market, not some random far away town.
Maybe spend some on a better education PHd, Masters or whatever ? Should lead to higher income going foward.
Put some in Super and claim the deduction (check how much you can for your concessional contribution (current concessional cap- employer contribuitons = max amount) , nothing else like it to turbo charge that amount ; time and compounding interest and it reduces your tax by claiming the deduction amd forces you not to take it out.
Be frugal, keep saving and investing.
I started at 19 with shares and retired at 40, am now 60. So it depends what it is you want out of life ? i wanted my time to be mine to do as I want, i also had zero interest in having kids. My only regret in life was not retiring earlier. It really depends what you want out of life as well, ie buy a flash car, or whatever ?
I am NOT a investment advisor, so grain of salt.
This is the dream for me really. Alas I am nearly 10 years later to the starting line than you.
Approximately 30% of my income goes to cost of living and with the rest I'd say I invest about 30% and the rest sits in a HYSA at 5.2% interest. Generally pretty frugal while allowing meaningful trips and travel.
I find the home ownership pieces wildly daunting as I do not know the market anywhere and am a firm believer in "past performance is no guarantee of future success" so i remain skeptical of infinite growth in housing.
Anyways thanks for the thoughts mate!