I guess I am "well-off" in the short term, being 47 years old, with an income now of $170,000. Super after eight years in the country is at $170,000, with a mortgage of $350,000, shares $5000, vehicle loan $40,000, wine and saleable assets $50,000 and total on Cards of $18,000 ($8000 at zero per cent).

Current plan is to finalise the credit cards, but then what is the best way to maximise future investments for early retirement? Gold? Silver? Shares? Housing? A mixture?

ANSWER:

I certainly agree with your plan to finalise the credit cards as soon as possible.  If the debt is being caused by bad money management, I hope you’ve taken steps to rectify the problem.

You are at a good age to be salary sacrificing to super – remember people don’t miss what they don’t get – but keep in mind that money in superannuation is inaccessible for you until age 60.

Obviously you don’t want to be contributing money to super and then finding you’re in trouble because you can’t get access to it.  This is the perfect time to be forming an association with a good adviser who will help you decide upon an appropriate asset mix within your super fund.  I’m not a fan of gold or silver because it’s simply gambling on commodity prices.

In my view, it’s hard to beat the combination of your own home and a portfolio of quality shares.