![f0027-01.jpg](https://article-imgs.scribdassets.com/62l3idori8cpj4tz/images/fileCGBX01FE.jpg)
PAUL CLITHEROE Q&A
![f0024-01.jpg](https://article-imgs.scribdassets.com/62l3idori8cpj4tz/images/fileXL27C3ST.jpg)
Need Paul's help?
Send your questions to: Ask Paul, Money magazine, Level 7, 55 Clarence Street, Sydney NSW 2000 or money@moneymag.com.au.
Sorry, but Paul can’t personally answer your questions other than in the Q&A column. By submitting your question to Money, you consent to having your question and the response you receive from Paul published in the print and digital edition of Money.
![f0024-02.jpg](https://article-imgs.scribdassets.com/62l3idori8cpj4tz/images/file5WQY0DLE.jpg)
At 32, Nick wants to retire early with an income from his investments.
How to be debt free in 10 years
Q I am 32 and chasing a debt-free future ASAP. My goal is to be debt free by my early 40s. I own a house worth $675,000 with $330,000 owing (this is my only debt), $116,000 in cash (mortgage offset), a $85,000 share portfolio ($1000 monthly deposits) and $225,000 in super. What do you think the best approach to achieving this goal would be, while also creating accessible income to facilitate early retirement before being able to access superannuation?
You have set yourself a realistic challenge here, Nick. We’ll allow for the offset account, so your mortgage is effectively $114,000. The good news is that gives you equity in your home of some $560,000. Then you have your share portfolio of $85,000, savings of $1000 a month and a good super balance for a 32-year-old.
I am impressed. This is a terrific financial position at a young age. I love the fact that you are building super, adding to your offset account and adding $1000 a month to your share portfolio.