this post was submitted on 08 Jul 2025
10 points (100.0% liked)

AusFinance

1146 readers
1 users here now

founded 2 years ago
MODERATORS
 

Were you between 20-35 how would you allocate your first 100k saved?

top 15 comments
sorted by: hot top controversial new old
[–] [email protected] 2 points 1 day ago* (last edited 1 day ago) (1 children)

Depends on your accommodation now, if you have cheap accomodation buy a rental, claim the interest as a tax deduction, do the DIY repairs and maintence on the place yourself, buy where you know the market, not some random far away town.

Maybe spend some on a better education PHd, Masters or whatever ? Should lead to higher income going foward.

Put some in Super and claim the deduction (check how much you can for your concessional contribution (current concessional cap- employer contribuitons = max amount) , nothing else like it to turbo charge that amount ; time and compounding interest and it reduces your tax by claiming the deduction amd forces you not to take it out.

Be frugal, keep saving and investing.

I started at 19 with shares and retired at 40, am now 60. So it depends what it is you want out of life ? i wanted my time to be mine to do as I want, i also had zero interest in having kids. My only regret in life was not retiring earlier. It really depends what you want out of life as well, ie buy a flash car, or whatever ?

I am NOT a investment advisor, so grain of salt.

[–] [email protected] 1 points 14 hours ago

This is the dream for me really. Alas I am nearly 10 years later to the starting line than you.

Approximately 30% of my income goes to cost of living and with the rest I'd say I invest about 30% and the rest sits in a HYSA at 5.2% interest. Generally pretty frugal while allowing meaningful trips and travel.

I find the home ownership pieces wildly daunting as I do not know the market anywhere and am a firm believer in "past performance is no guarantee of future success" so i remain skeptical of infinite growth in housing.

Anyways thanks for the thoughts mate!

[–] [email protected] 3 points 2 days ago* (last edited 2 days ago)

I am not a financial or tax advisor, and none of the following is financial nor tax advice.

  1. Get a financial and tax advisor instead of asking rando's on the internet.
  2. Reduce debt. No credit card debt/personal loans. Reduce/offset property loans. HECS etc maybe consider differently.
  3. House deposit, if home ownership is a goal.
  4. Super voluntary contributions and claim tax deductions, possibly up to 30K a year.

Good luck

[–] [email protected] 5 points 2 days ago

Buy a home to live in.

As boring as that is it will help you in the long term.

[–] [email protected] 4 points 2 days ago (1 children)

I might buck the trend a little here: I did spend my early money on a house. However, I never travelled the world in those days. I have always regretted it.

If we're talking $100k in the 90's when I was actually 20-30, I could put $70k on a house, rent it out, set up with the rental income and $15k of my money covering the first year or so of payments.

Take the remaining $15k and go on an epic backpacking adventure around the globe.

$100k these days wouldn't be enough to do this, though.

[–] [email protected] 2 points 1 day ago

2nd putting money aside for fun experiences. Doesn’t have to be much but saving for a house is a long, arduous, sometimes soul sucking process. It’s good to have those experiences first.

[–] [email protected] 2 points 2 days ago

House deposit and begin paying it off. TAFE fees. Dental work or saving for future dental. Or just have it as a safety net while continuing to work and try to amass more. Reliable secondhand car to open up more job opportunities.

Very boring survival mode goals, sorry

[–] [email protected] 10 points 3 days ago

House deposit. Its a long ladder, the later you start the harder it is to climb.

[–] [email protected] 7 points 3 days ago

House deposit 1000%

I got started at 29 and I am very lucky I did

[–] [email protected] 5 points 3 days ago (3 children)
[–] [email protected] 3 points 2 days ago (1 children)

The question is what would you spend it on. Not what you did spend it on. 😆

[–] [email protected] 1 points 2 days ago

The question set me off and I was feeling a little spicy about it. 😂

[–] [email protected] 2 points 2 days ago* (last edited 2 days ago)

100k to turn a wife into an ex-wife seems cheap

[–] [email protected] 2 points 3 days ago
[–] [email protected] 4 points 3 days ago