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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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How an extra $50 per week impacts your mortgage

By Cameron Micallef · July 15 2019

Reading:

Borrow

How an extra $50 per week impacts your mortgage

By Cameron Micallef
July 15 2019

Reading:

How an extra $50 per week impacts your mortgage

By Cameron Micallef · July 15 2019

Reading:

New modelling has suggested that Australians with a $400,000 loan balance against their name could save tens of thousands in interest if they contribute an extra $50 per week to their mortgage.

New modelling from AMP showed that the extra $50, on top of regular repayments, would save four years and $46,992 in interest.

According to AMP’s modelling, the figures reveal that if people pay extra or keep their repayments at the same level as interest rate decreases, it has a significant impact on their future interest bill.

AMP Bank CEO Sally Bruce believes these extra payments could help Australians save thousands.

“Many people are unaware of the powerful impact extra repayments can make to their mortgage. With recent cuts to variable mortgage rates, home loan customers have a choice to make around whether to pocket the rate cut or save the extra money, or a portion of it, back into their home loan,” said Ms Bruce.

While this might not be realistic for everyone’s situation, anyone that can pay an additional $50 can greatly benefit.

“We know no two home loan customers are the same. We encourage anyone with a mortgage to consider their personal financial circumstances before deciding whether making extra repayments is right for them,” said Ms Bruce.

Adding $50: how the numbers stack up

AMP also applied the $50 method to other loan amounts, showing the marked difference the extra repayments make. They are as follows:

$300,000 loan: Save $44,150 in interest and pay off the home loan five years and one month earlier.
$400,000 loan: Save $46,992 in interest and pay off the home loan four years earlier.
$500,000 loan: Save $48,887 in interest and pay off the home loan three years and four months earlier.
$1,000,000: Save $53,203 in interest and pay off the home loan one year and nine months earlier.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.