How can I safely grow my $400k offset savings beyond cash?

T

trumanzero9

New Member
Hey guys! I’m 34 and running a business, I take a wage, and I’ve got a wife and one child! Combined, we’re on 230k, and the business makes about 200k a year profit. We own a house worth 1.4m in a truly desirable area, with a 650k mortgage. Plus, we’ve got 400k just sitting in the offset account! So is there a better way to safely make our money work for us? I’ve never had anything to do with stocks or anything like that.
 
An offset against your home mortgage is excellent because it is stable and tax free. Remember that.

Alternatively, if you feel adventurous, you could pay down the $400k mortgage, then re borrow that $400k to invest in an investment property.
 
At that taxable income, the money in an offset account is earning 10% before tax, and your capital is guaranteed at a mortgage rate of 6%. Honestly, it doesn’t get much safer than this.
 
So many ppl will give strategies for making maybe a couple % on the 400k gotta remember you’ll be subject to CGT with most assets

Just transfer the 400k to your mortgage nothing better than debt free tbh, can speak from experience
 
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