What financial planning strategies are suitable to my situation?

Q.

I am 55 years old, work full time earning around $90,000 annually and look forward to staying in the job for another six or seven years. My wife is 46, working full time and earns around $45,000 annually. We have a mortgage balance of $175,000 which is about 25% of the property market value. We both have very small amounts in our super as we have only worked in Australia six years. At the moment I heavily sacrifice my earnings to super. What financial planning strategies are suitable to my situation?

Your best strategy is salary sacrifice to super because such contributions lose just 15 percent entry tax, whereas money earned by you loses up to 41.5 percent. Because you have a large equity in your house, you could also talk to an adviser about a home equity loan for investment in quality share trusts.