yeah I have an offset with mine that’s covering around 40% of the remaining loan, I’m looking at 4-6 years to pay it all off depending on how disciplined I am.
yeah I have an offset with mine that’s covering around 40% of the remaining loan, I’m looking at 4-6 years to pay it all off depending on how disciplined I am.
This is an important consideration. Putting cash into your offset is basically guaranteeing a tax free return in that 3% range which is highly competitive in this environment.
If you are happy with a fixed loan we just switched/split 75% of our loan to a 4 year fixed rate with NAB at 1.98%. Though I have seen a few in that range.
The remainder is 2.91% variable and set at what we will be able to pay off in additional payments over the 4 years.
I do the same which is why I’m waiting. Athena do have fee-free redraw facilities which effectively does the same thing but I prefer offset accounts for a number of reasons.
I’ve been doing the share thing for about 3 years now. I had some pretty solid gains wiped out by one massive greedy mistake but you live and learn.
My strategy is to set aside 20% of my post-tax income. Some of it used to bump my super up to 12.5% (which handily saves a bit on tax) and then the remainder is evenly split between shares and extra mortgage payments.
My targets for shares are 50% local shares, 10% local ETFs, 20% Asian ETFs and 20% international ETFs. I try to stick to ethical ETFs but I’ve struggled to find an Asian one so that’s mostly tech-focused.
Does anyone have a good google sheet for watching/managing stocks or do you use paid products?
What do you want it to acheive?
Most broking accounts (Commsec NAB Trade etc) will allow you to create a watchlist of stocks you don’t hold.
It doesn’t cost anything to set up the account.
Sharesight is great if you own 10 stocks or fewer, and does a lot of the tax calculations for you. Stocklight also good but simpler.
At the moment I just want to start paying more attention and have a watchlist of stocks that I track. I’ve setup my own google sheet, but being a noob I’m assuming there are better options out there.
A basic broking account eg: Commsec will have that at no cost.
You can also set alerts for price movements or ASX announcements.
yahoo finance is quite good but very basic, sharesight is good and free for 10 or fewer stocks. I use nabtrade because transaction pricing is aligned with my trading patterns, it has a shit phone/tablet app but the website is pretty decent.
Laughing at this GameStop/WallStreetBets thing.
It’s amazing.
It is, and it supports a view that I’ve always had, that shorting stocks should not be legal, it does nothing but distort the market.
That said, I’m convinced that there will be fallout from this, people losing money they can’t afford to lose because they don’t understand the market.
Hopefully it leads to better regulation of institutional investors, far too long they’ve syphoned money out of the system while adding zero value
Financial regulation in the US?
Of course, can’t have the proles benefiting from the market
Distortions would only be worse if market prices were set exclusively by the actions of those who think the prevailing price is about right or too low, while those who evaluate a company and consider it over-priced have no mechanism to signal that to the market unless they happened to already hold a position in the stock.
Why do they need to do that? Can’t they just not buy it? Why does someone need to “win” when a stock is over priced? Is this a game?
Given that the entire basis of the market is one of prevailing opinion, I fail to see the issue. Just like anything else for sale, the market sets the price through a willingness or unwillingness to purchase at a particular price point.
If the entire basis of the market is one of prevailing opinion, then how can there not be an issue where there’s an asymmetry in how different opinions are disseminated through the price?
If I come up with a novel insight which demonstrates that the stock should be 10% higher, I can immediately bid up the market and impact the price and have my position priced in.
But I expect the stock to drop 10% and I can’t sell, because I can’t short and hold no prior position, then there is no available mechanism for this opinion to be priced in and the market stays as it is. Sure, the following days/weeks/months/years might bear out the accuracy of that forecast and have the market adjust accordingly, but that doesn’t really help the people who bought in the interim at a overvalued market price which did not price in this opinion.
I’m not fully convinced the OG posters on reddit aren’t Wall St fund managers themselves. They saw an opportunity to enrich themselves while hurting some of their short positioned competitors all on the back of gullible hypebeasts and memelords.
Joe Public wouldn’t be able to determine what percentage of a stock is made up of short positions in order to identify the $GME opportunity to begin with.
Unless, in most cases, you have access to very significant financial resources, your opinion alone will not make any difference, stocks are priced, for the most part, by consensus. So, no you can’t have your position priced in, nor do you want to, you want to purchase at the lowest price possible in the expectation that others will share your opinion and demand for the stock in question will raise the price.
Why should it? When they purchased the stock they signalled an opinion that they valued the shares at at least that price. Why should the market protect them?
The stock markets are supposed to be rational, based on facts and forward projections, but they’re not, buying and selling is driven by emotion and good traders predict not only the economic and financial indicators of a stocks value, but the sentiment and emotional response to changes in those factors.