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Future Planning - Good idea?

Discussion in 'Investing Strategies' started by shank, 1st Oct, 2015.

  1. shank

    shank New Member

    1st Oct, 2015
    Canberra, ACT
    Hi All,

    I posed my questions in a different forum but haven't received a response as of yet, however thought it was better to pop them into a forum that focused on questions of its type... so here it goes :)

    I have recently been putting a lot of thought into my finances and looking for ways to produce some passive income.

    Quick rundown;

    Age: 26
    Income: 86k + 5 ? 7k in ot roughly
    Rental Property (was ppor): 489111k on the mortgage
    Offset: 34k
    Rental Income: $500/ week (not including mgmt fees)
    Property Value: Roughly 650 ? 700k, bought for 505k 3 years ago.
    Rent: 380/wk

    The property is currently negatively geared to some degree, the tenants are my parents and more or less pay for the costs of maintaining the place, for reduced rent compared to the market.

    I don't intend to sell it as i would like to move back in at a later stage.

    I switched my Rest Super investment strategy to high growth, and just put a lump sum of 22k into my offset, which brought the repayments down to roughly $1810 / month.

    I am looking to invest some of the cash in my offset, probably start with 5k or so, into something that is passive income producing. I have been looking into ETF's a lot, and have thought about going for a VGS,VTS, VAS (was thinking about VAP but apparently VAS has some of this in it).

    I am open to taking on some risk, as i would like to keep in for the long haul to see some capital growth, hence a mix between growth and income.

    I would ideally be looking for a balance between capital growth and some income producing, as i have a dependent and it would be helpful.

    I have posted this in another thread, but thought as i was asking more for myself, a new thread would be better.

    Any advice would be greatly appreciated!!

    Thanks in advance :)