I know this has been covered before, however I am hoping you could offer some advice
Home value: 725k
Offset amount: 20k
Debt beside home loan: Zero
Income 80k (young family single income).
I want to start debt recycling by accessing 50k and purchasing LICs (Thornill strategy) I plan on adding additional 50k each year until i think im at a level of debt i can manage or the bank is willing to loan. Hopefully 300-350 and more once the home loan is much lower.
Do you think it is ok to start with only 50k and add over to my portfolio slower? Do i earn to little to even make this work?
Besides the average income, we are in a pretty good position, I think and hope to get rid of the loan in
I hope to hear your insight.
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