Hi, I'm a 23 y.o. working part-time whilst studying and trying to set up a solid financial foundation for my future would be grateful for any ideas on what I should consider/do differently. Obviously not asking for financial advice but just looking to gain some food for thought and to share what I'm doing.
Currently I am salary sacrificing 12% into my Hostplus super (Approx. $30k total = 20% Balanced + 80% Shares Plus).
In terms of cash, I currently have emergency funds equivalent to 3 months wages, but I'm trying to increase this to 6 months (hopefully tax returns will help top this up). I'm also trying save (albeit slower than I'd like) so I have cash set aside for a replacement car in case I need to buy a new one (i.e. accident/theft).
By the time I graduate, I will probably have $55k-ish in HECS when I graduate - maybe a bit more.
Currently I am salary sacrificing 12% into my Hostplus super (Approx. $30k total = 20% Balanced + 80% Shares Plus).
- Given some previous posts raising concerns about Hostplus being opaque due to pooling and etc any thoughts on this allocation or would something else like the Life Stages Shares Plus be more appropriate?
- 40% = VGS (Vanguard MSCI Index International Shares ETF)
- 30% = VGAD (Vanguard MSCI Index International Hedged ETF)
- 15% = VISM ( Vanguard MSCI International Small Companies Index ETF)
- 10% = VGE (Vanguard FTSE Emerging Markets Shares ETF)
- 5% = IOZ (iShares Core S&P/ASX 200 ETF)
In terms of cash, I currently have emergency funds equivalent to 3 months wages, but I'm trying to increase this to 6 months (hopefully tax returns will help top this up). I'm also trying save (albeit slower than I'd like) so I have cash set aside for a replacement car in case I need to buy a new one (i.e. accident/theft).
By the time I graduate, I will probably have $55k-ish in HECS when I graduate - maybe a bit more.