New joiner

HHI $240k in Sydney (40km from CBD)

​We’re a migrant family of 5 (3 kids) on a $220k household income. Living well below our means. Currently have a $495k mortgage with $360k in offset. We’re on track to smash the remaining balance in 2 years.

​Because we arrived recently, 2019, Super is sitting at $140k only. I do salary sacrifice up to the concession limit. Plan to save $6.5k monthly post-mortgage. The 7-year plan after the house is paid off is to hit $500k in super and $500k in liquid assets to retire at 55 and then live off super. Kids would be done with Uni by the time I hit 55.

Plan to work part time outside of corporate and IT after 55 to supplement my savings and not get bored.

​We’re still using the same car we bought when we migrated and keep life simple—lots of parks and exercise and reading—though we do a family trip every other year. Anyone else with a similar profile of focusing on a high savings and no IP in Sydney?