Hello Mustachian's,
I discovered this website last night and have not been able to stop reading, judging by some of your discussions I can see there are many wise Mustachians whose advice I could benefit from greatly.
I live at the bottom of the globe in a little country called New Zealand. I am hoping to reconfigure my finances for the best returns possible however a lot of what you talk about on here does not directly relate to things in my country ( or do they? ) for example we do not have "Betterment" or "Vanguard" down here.
Here is my situation,
We live in a $675k house in a town where the cheapest house's sell for low 500's
As an ex tradesman I built the house efficiently with its own self contained residential apartment which creates $350 of rent for us per week, my family ( wife and two kids ) and I live in the main house.
We pay %5.1 on our mortgage ( as good a rate as you can get in this country ) of 420k which costs us $411 per week offset against our $350pw income from the self contained unit it is costing us $61 of bank interest to live per week so our house costs us very little to live in and my salary of 90k means we can live relatively easily.
Taking all of the above into account what I am wanting to know is should I restructure my mortgage, pull out my equity and put it into something that will return more than the %5.1 it is currently saving me and if so WHAT?
Thank you in advance for your help.