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Sparky, it's a minor set-back for you - at least you've still got the $650k to build on, and as you say; it's only been 4 years. That's a great effort for that time-frame in my book.

Our situation is mostly remarkably un-exciting. No high-flying deals or cutting-edge strategies so far. This is going to shock the D&G'ers, but our recipe has been to simply buy real estate (PPOR's to begin with), and hold them for a decent while, and let CG do it's magic mostly. I bought my...

As with property. But don't tell the D&G'ers who think we all push up the prices and specufest with gay abandon.

Excellent result. This is the sort of thing I often spruik about. It's not being cheap, or tight, because you are still living the lifestyle, but you have saved yourself many tens of thousands of dollars - a deposit on an income producing asset no doubt.

It depends where you are on the path to riches I suppose. The 18 year old straight out of school looking to save for the first IP needs to have the "latte factor" mindset, unless they are on $150k as a first job. But even then many of these kids just blow it. I know a jockey (plays golf at a...

Retail I reckon would be very tough; especially in this day and age of internet sales, long interest free terms, more competition etc. Using my industry as an example; when I began my training as a golf pro, the only place you could buy golf equipment was at a pro shop on a golf course, or...

Thinking from the average (or lower) wage earner's point of view - and these are the people who will struggle to get rich - this is only one item in a range of 100's every week that they buy/comsume. Simply "thinking" of the big picture won't get you there. You have to put some financial...

Thanks Xen. A few have asked about our next goal so far, so I thought I'd give you a quick beer coaster plan. In the immediate future, we are buying a business. There has been a huge amount of D.D on it so far and is close to being done. GR put forward some excellent words of warning...

I would love to "jump" to $5 mill, but I don't know that it works that way. I'll be working on getting to $2 mill - same as before, with the same fundamentals. I'm a bit risk averse. For example; 80% LVR's make me nervous. It's sorta like what I see people do in casinos with their bets...

Yes you do. You've all heard me harp on about the "latte factor", and we have lived that mantra consciously for the last 8 years, and it has contributed largely to the creation of this post. At the start of your journey, when you are out for the first million, unless you have found some...

None of the properties we have ever bought were bought for cap growth as the main factor. It has always been about the cashflow first (including the tax benefits and depreciation), the cap growth second. This has allowed us to keep on reducing debt, and live a lifestyle as well. By...

The public announcement was not so much to show how proud we are (although; we are) - it is more to offer some inspiration to the ones starting out who no doubt feel that the light at the end of the tunnel is a million miles away. Hearing of a feat like ours would seem unrealistic if it was...

A sign of a "would be if they could be". People I know who are genuinely wealthy just buy it and don't ask the price. Why would you need to ask? Money is no object.

Actually, how's this for pathetic; when we were in the USA, there was a chain grocery store called "Trader Joe's". Really good food, a bit "boutique" and usually not real cheap. We didn't shop there as a rule (went to Costco instead), but Traders had this wine there made by a company...

Correct. That's the side of this that no-one sees; the sacrifice and hard work, going without etc. The other hard bit is to have the courage of your convictions, back your ability and research and act, even when others are not, and saying not to. Thanks to one and all for the kind...

It's official; according to the Bank, based on their recent vals and the debt owed, we have finally achieved it today; Nett worth from investment assets of $1 mill!! Yay! Small potatoes to some here no doubt, but a biggy for us. The wife and I had a quiet glass of wine to celebrate...