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Each to their own eh. All have different lifestyle requirements.
I'm still aiming around 150-180k p.a + fully paid off PPOR before I retire.
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Out of interest Ridin-High, do you intend to retire off that passive income, or supplement your current income?
I just find that crazy low. :P
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Could easily live off 30-40k, however investment cashflow goal of 150k in 2010 dollars.