Hello and welcome back to the 360 Money Matters podcast! When it comes to debt, ideally you want to be in a debt-free position for your wealth creation, but sometimes that won't always be the case. 20 or even 30 years later, you might still be paying for the same debt and making additional repayments, and you haven't moved the needle very far. If you want to remove that thorn in your side, then we have a strategy that we hope can address those problems.
In this episode, we introduce the Debt Recycling Strategy-- a very technical but incredibly valuable strategy. Aside from its general benefits, we'll do a deep dive into it so we can help you develop strategies to pay down your non-deductible debt and build your wealth in a perfectly legal and tax-effective manner.
The light at the end of the tunnel might seem so far away, but we can't emphasize enough the importance of having a strategy having a valuable impact in the short term will be massive in moving that needle, so please make sure to listen in!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• The debt recycling strategy and how it reduces your nondeductible debt and builds your wealth at the same time.
• The type of people this strategy is best suited for.
• An illustrative example of the strategy's benefits.
• Structuring your investments to income-producing assets.
• The importance of developing an exit plan in case of risks.
• The opportunity cost of making accelerated mortgage repayments.
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