After two rounds of interviews I was offered a position as an Ongoing Advice officer with a small, self-licensed financial planning company that has an office in the Sydney CBD. It will be fun to actually get to use my Master of Financial Planning to help people achieve their financial goals. Unlike when I was a self-employed financial advisor (which was costing me around $13K pa in ASIC and ATO levies, and the fees to remain an 'authorized representative' of an AFSL), this role will provide me with a modest regular income, rather than just being an expensive hobby.
As my living expenses are more than covered by my QSuper lifetime pension and the mandatory minimum annual pension payment from my SMSF pension phase account, I'll be transferring the salary from this job into my mortgage offset account to help pay off my investment apartment mortgage faster. It will be good to have some taxable income, as otherwise the negatively geared investment property makes little sense.
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