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Justin and Jenny could also consider early retirement/or aim for it - if their Super ends up being in a greater shape in the lead up to retirement age!

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Hi Paul, Great response and well done to this young family for setting the bar. If Justin has a residence owing $650,000, and he does not plan on moving, would you suggest he pays down his non-tax deductible debt? Paying down the debt will give more options (to borrow using the house equity for an investment property/shares, etc making it tax deductible debt)?

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Such a beautiful family with well grounded financial ideals!... I do wonder why there has been no focus on the $650k home loan where the average repayments are more than $2500/month which is quite substantial given the modest teacher income/ part time employment? The family have also expressed concern with rising interest rates/cost of living so shouldn't paying off this debt be their priority - just for peace of mind? Even $13000 may not be enough with the aforementioned as well as the unforeseen emergencies that may arise...

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There is also the option of the Spouse Super split, taking advantage of the 15% tax break and building your partners super balance.

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Is superannuation a con?

Superannuation is mostly a con. It involves the funnelling of vast amounts of wealth from wage-earners to the financial sector, and continues the neoliberal project of fracturing and individualising our hopes and ambitions. The primary beneficiaries of our super system are fund managers and other financial parasites

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Wish people would stop "flexing"....it usually goes like this -

"Dear Paul,

I'm 22 years old and just finished university, graduating with a First Class degree in Journalism. I've been hired as the CEO of the famous multinational company "MotzaBank" and will be on a starting annual salary of $38m plus 25,000% bonus if I do OK.

I did work a part time job during university and managed to completely pay off the 16 investment properties I bought as a teenager, but I worry because I've only got $1m in super, $250m in shares and a mortgage of $25 left. Am I doing OK or should I save more ?"

(rather than the more realistic "Your Super" article I read in the Weekend AFR where the author had lost ALL their funds of $58,000 in a SMSF that dealt in crypto).

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