The guide to life planning with a dynamic financial plan - Money and Investing with Andrew Baxter | |
The accumulation stage in your wealth journey begins as you are starting your career. For some that is straight out of school or trade school and for others that may be university. As you are getting started a common debt people have is their HECS debt if they went down the uni pathway. HECS however, is not necessarily bad debt as it does not incur any interest, however it can increase with inflation. Host Andrew Baxter notes that a common step in the accumulation is also younger people looking to buy their first property. It can seem daunting and out of reach because the required deposits are fairly large and it takes time to save the sort of money. You also need to develop the skill of being able to budget and service debt as needed which is something that can be instilled on an inter-generational basis. Accumulating property has become increasingly expensive and is forecasted to continue to do so. There is no way of escaping this but simply the decision that you will commit to saving as well as you can to bring yourself into a position to buy your first property. | |
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| Target State: All States Target City : Sydney Last Update : Mar 07, 2024 1:15 AM Number of Views: 44 | Item Owner : Andrew Baxter Contact Email: Contact Phone: (None) |
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