What to do with my $20k tatts winnings?? - Aussie Stock Forums

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  1. #1

    Default What to do with my $20k tatts winnings??

    won division 1 few weeks ago thru a syndicate... two preferred options are:

    1. reduce my mortgage of about $250k or

    2. invest in the ASX on some specs.

    and to add to that, pertaining option 1, how does using equity work? i heard from the developer that my land has gone up $25000. I would like to draw that equity but only started paying the loan interest 3 months ago... lender might not want to len further. should i put that $20k into the mortgage, reduce my fortnight repayments and maybe tap on that equity in the next month or so?

    and in option 2, if the stock rises to x amount, at what stage should i withdraw them or i should not withdraw them at all, to so called ride the wave?

    maybe the question i'm asking is should i reduce my mortgage or continously investment with any extras bits my hands get on? someone said before that we should make money work for you. and is money putting in the mortgage doing that, making money work for me?

  2. #2

    Default Re: What to do with my $20k tatts winnings??

    pick a spec ? - which spec !!

    lets face it, unless the 'investment is returning double digits, simply kill the mortgage - after tax better off. if you still feel the need to play the market, then borrow ya equity and claim the interest.....any others ?

  3. #3

    Default Re: What to do with my $20k tatts winnings??

    Take it off you mortgage.

    Buy another ticket--I'll go you halves!

    Ill explain use of equity later as a few have mailed me on this as well.

  4. #4

    Default Re: What to do with my $20k tatts winnings??

    pay off your mortage.

    use the money u save to invest in the market i u feel so inclined
    that will give you a couple of months to read/learn before you have saved enuff to buy anything
    The greatest trick the devil ever played was convincing mankind he does not exist.

  5. #5

    Default Re: What to do with my $20k tatts winnings??

    Gday kerosam congrats on your win.

    I agree with Baglimit and Tech/a.
    Put it toward your mortage, that way its a guaranteed % return on your money... ( its a cant lose situation ) , paying bulk sums of a mortage early will save you heaps of interest in the long run.

    and agree with them, on the point of "Borrow tax effective to invest" once you have a plenty of equity in your assets.
    Here we Go, Here we Go

  6. #6

    Default Re: What to do with my $20k tatts winnings??

    thanks leaps guys.

    tech/a, i think i'm on a roll here, won division 2 (about 4k) only 4 months ago and i don't buy these tickets too often. hahaha


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