Out of work but keen to invest in shares
Hi Paul, I’m 51 years old and I have been subscribing to Money magazine for the past 11 years – I thoroughly enjoy it. I want to find out where I stand with my finances.
I have $50,000 left to pay on a loan for my house, which is valued at up to $1.3 million. I have just sold my business and am looking for work (I know, wrong time!).
My wife is 46 and earns $85,000 in the health sector. She contributes $200 weekly to our mortgage and another $200 to her super using salary sacrifice. My super balance is $58,000 (70% balanced and 30% shares), and my wife has $80,000 (76% growth and 24% conservative). Her weekly contribution goes into the conservative side.
We have one investment property, also worth $1.3 million (with a $950,000 loan that we’re sharing with my brother and his wife). I have $85,000 in an offset account and am trying to invest in shares once I get a job again. What’s my next step?