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Its not instant retirement money, that's for sure. But again, think of your budget now. Then think of it if you didn't have to pay rent/home loan. That's the sort of difference it'd make to you.

If I took rent out of my current budget I'd regain about 50% of my income.

I would not be complaining about 1M, it should would make things more comfortable. Wouldn't quit my day job though

. Even if you did find a u beaut term deposit that paid you say 8% p.a. that's only 80k then account for approx 20k in tax and that's just over $1100pw. You would not be having much of a lifestyle and would no doubt be chewing into your savings. Especially if you plan on having a family.......I'm sorry to say mr Luke but that's just not sustainable!

1100 a week in hand is fine. It's more than a decent percentage of the work force earns.

. Even if you did find a u beaut term deposit that paid you say 8% p.a. that's only 80k then account for approx 20k in tax and that's just over $1100pw. You would not be having much of a lifestyle and would no doubt be chewing into your savings. Especially if you plan on having a family.......I'm sorry to say mr Luke but that's just not sustainable!

this is what I was thinking.

1100/week in hand is great.

I make 850 incl saturdays.

so, would be very nice.

id have to keep the same life style, but id see it more as a wage.

save up for things.

atm, keep the house loan, as im paying less intrest then im earning.

an extra 250 a week for sitting around, doing whatever I want?

thats retirement.

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