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Firstly I just want to say awesome effort!
I particularly admire all the smart decisions you have made along the way and your choice to pay down debt first and build wealth the low risk way, and I imagine there aren't a lot more secure feelings in the world than knowing you actually own your home!
That said, in regards to your question I think you are very much on the right track, I agree with your decision to move away from investing in your own IP, especially given you have more than enough exposure to the property market through your own home.
Secondly I like your move into shares (at least as a long term investment), I personally would probably be looking to avoid gearing, my reasoning is simply that if debt can be avoided it should be as I think debts will become much more burdensome over the coming decade and I don't think asset prices in the future will be driven by credit like they have been in the past.
When it comes to doing "more" I don't ever think that that should be synonymous with using credit unless that investment's returns (excluding capital growth) is higher than the interest payments, in which case using leverage may be a way to increase returns.
I'm personally of the opinion that capital growth should be factored in investment decisions as prominently as it is, not to mention that most people assume in the long run it is a one way street (for both properties and shares), which is clearly not the case as was shown by the GFC, and prices of goods in an economy have much more to do with money supply (which is often in the form of credit) than it does anything else.
That said if you want to increase your potential for returns (and obviously risk as well) you could potentially look at some international stock markets, particularly the emerging markets. It would seem at this stage that the emerging markets are likely to outperform developed world's economies over the next couple of decades, if for no other reason than those countries don't have the excessive levels of debt, if any, at the household, business and government levels of their economise which gives them a great ability to expand.
Another idea that I was going to throw out there which you didn't mention, which was potentially going into business for yourself. I don't know what industry you are in but in my opinion one of the best ways of building wealth is being in business for yourself as you get to reap a much larger chunk of the pie.
That said setting up a business is quite difficult in the first few years, and obviously you'd probably want to weigh up the desire to have the chance to earn more versus the security of providing for your family.
Anyway best of luck with it all.
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