hoard my fiat or leave it in the mortgage offset?

Discussion in 'Wealth Creation & Management' started by Ag bullet, Sep 6, 2014.

  1. Ag bullet

    Ag bullet Well-Known Member

    Joined:
    Dec 27, 2013
    Messages:
    1,178
    Likes Received:
    879
    Trophy Points:
    113
    Location:
    SE QLD
    been thinking of joining the many who have started to store their fiat out of the banking system to avoid any bail in but in doing so i'd lose the advantage of reduced interest on the mortgage from the offset account. What to do? Security of the fiat would be better than the bank, for what it's worth.
     
  2. House

    House Administrator Staff Member

    Joined:
    May 1, 2012
    Messages:
    9,708
    Likes Received:
    305
    Trophy Points:
    83
    Location:
    Stack City
    Potential Economic Terrorist :mad:

    Depends on how much savings you'd lose, could be a few hundred or thousand in a year, have you figured it out? I'd say leave it in the bank and save yourself some money but keep your finger on the news pulse. IMO the chances of something happening to your cash in the bank is highly unlikely so might as well pay down the interest.
     

Share This Page