[JBaby]

Hi, just wondering what the EB money gurus think about “investing” in super.

DH and I are quite young (late 20’s) and have a modest mortgage on a (very) modest house. We pay extra each fortnight but as we are on one income it's not a huge amount and it would still be 15 years before it would be paid it off (also in about five years we would like to upgrade to a larger home so not sure what size mortgage we will have then.)

Anyway I’ve always wanted to “invest” in either property or a managed share fund but with our lowish incomes it isn’t really feasible. I’ve been putting some extra money into my super to take advantage of the governments co-contribution scheme (they contribute $1 for $1 up to $1000 for lower income earners). We have our super in a “Growth” plan which I would expect over the next 20-30 years would generate higher returns than the balanced plans.

I’m wondering, would putting extra money into super now be the equivalent of investing into a managed fund by the time we retire? And would we be better off in the long term doing putting some extra money into there, or should we really just focus all extra money into our mortgage?

WDYT?

This post has been edited by JBaby: 02/05/2012, 12:24 PM

[PrincessPeach]

I'd also speak to a financial advisor about your specific situation.

However as a very big generalisation, the planners i used to work with would advise people to pay off their mortgages first & then look at investing in super - but as i said, it depends on your ages, income & a lot more info than can/should be divulged on here.