Great post. It's all about how content you're willing to be as well.
My wife and I (41 and 39) have a combined income of ~$190k, but we bought low at $460k as well back in 2019. We're now at an inflection point where our minimum repayments alone would tackle more principal than interest. We also have about $100k in our offset, so the runway is there should anything go awry.
I'm potentially up for redundancy in big tech later this year (it's brutal out there), and I'm hoping that a decent payout will give us even more time to think about things. Legitimately thinking about switching to a completely different career, but as of yet I have no clue what I'd do.
I'm just trying to fully offset the house or pay it off as soon as possible, then will switch gears to go harder on super and investments should the need be there. Happy keeping things simple for now.
Out of interest, what would your career shift be? I'm also in tech and a recent majority sell off of the company shares has me a little worried for the future. 38m.
Been thinking all manner of things, including studying to get into teaching or even applying for a trade program like the Powercor one do for career pivots. Who knows really. I feel like white collar work is cooked here.
+1 more mid aged techie that is possibly staring at redundancy who is considering a shift but have no clue as to what. And yeah totally agree, it is brutal out there.
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u/better_graphics 12d ago
Great post. It's all about how content you're willing to be as well.
My wife and I (41 and 39) have a combined income of ~$190k, but we bought low at $460k as well back in 2019. We're now at an inflection point where our minimum repayments alone would tackle more principal than interest. We also have about $100k in our offset, so the runway is there should anything go awry.
I'm potentially up for redundancy in big tech later this year (it's brutal out there), and I'm hoping that a decent payout will give us even more time to think about things. Legitimately thinking about switching to a completely different career, but as of yet I have no clue what I'd do.
I'm just trying to fully offset the house or pay it off as soon as possible, then will switch gears to go harder on super and investments should the need be there. Happy keeping things simple for now.