This article provides financial advice to a 46-year-old individual with $60,000 in savings and $2,000 monthly additions. Options discussed include using an offset account, establishing an investment portfolio, and salary sacrificing to superannuation. The article also addresses a reader's query about an incorrect fund transfer and offers solutions.
I’ve saved $60,000 and am able to add about $2000 a month to that. What should I be doing with it? I am single, 46, have a mortgage that is quite manageable and no firm retirement plans, though I do like to be flexible.
Money held in offset is fully accessible, so this satisfies your flexibility requirement and ensures you have funds for emergencies. Finally, you might want to consider whether some of your savings capacity could be used to salary-sacrifice to superannuation. Money added to superannuation is inaccessible until you are at least 60 years old, so I couldn’t imagine you would want to send all of your savings here.
SAVINGS INVESTMENTS SUPERANNUATION OFFSET ACCOUNT FINANCIAL ADVICE
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