Your Money

How can I get out of debt and build a secure future?

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I am 49 years old and have worked for the same company for the last 17 years. I have a couple superannuation funds floating around and my wife is also in the same boat. We have a home worth $560,000 with $200,000 owing on it and car payments totaling approximately $580 per month. I’m wondering what to do for the future.

You seem to have a stable job and equity in your home.

To get a good grasp of your financials, ask the following questions:

  • What is my overall debt position?
  • Do I have surplus income?
  • Can I consolidate my super into the one fund?

You need to clearly identify your goals and objectives and come up with an overall financial strategy to help you achieve those goals. In other words, a sound financial plan is the way to go. If you can’t do this yourself, it pays to seek out a professional who can put you on the right track to financial security.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Wednesday, February 15, 2012

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