Ask Paul: we owe $220k on the home loan, my spouse has $75k in a term deposit

Ask Paul: we owe $220k on the home loan, my spouse has $75k in a term deposit

By Paul Clitheroe

My spouse (28) and I also (30) are recently hitched and seeking at investment choices.

We possess the house our company is residing in, that we got it as a good investment 36 months ago and had been adversely gearing until we relocated in early in the day this present year.

I owe about $220,000 in the home loan (4.29% rate of interest). Repayments are $1200 a thirty days and now we are spending $1600.

I’m learning (senior high school training) full-time and working part-time with intends to graduate by the end of 2020.

My partner is working time that is full making $97,000 before taxation. She’s got never ever bought home but has $80,000 committed to stocks and $75,000 in a phrase deposit, making 1.65%. Continue reading “Ask Paul: we owe $220k on the home loan, my spouse has $75k in a term deposit”