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Agreed and am in the process of doing so.

Yes, as I alluded to earlier, the business depends solely on my personal labour so more of a job/practice rather than a pure business wherein the latter one could walk away and still earn. Unfortunately, I am in the former wherein if I left , there would be absolutely nothing. But still, I am...

I am going to remain quite non-specific but the broad priniciples contributing to the uncertainty of my small business is that it depends on very specific referrals from a small group of people, increasing competition in my field, fluctuating demand, economic climate, the amount of personal...

Unfortunately not for me. My earnings have varied from 200k to 1.4mil gross and it is quite unpredictable from year to year so I cannot project where I will be next year let alone 5 years. All I know is that I need to grow savings from year to year so that my net asset position is increasing.

No worries one for you, me and your hubby as well.

30 mil in 40 years time can probably just buy a big mac value meal. Or I need to invest in good things like the report below suggests: http://www.news.com.au/realestate/buying/time-to-buy-property-prices-to-double/story-fndban6l-1226626822141

That alone is priceless and worth paying 33 mil for. But I cannot see how I can achieve 33mil in this lifetime. 33 mil would put you probably in the top 2000 of wealthiest Australians?

Unless your PPOR is like this one: http://smh.domain.com.au/real-estate-news/33m-sale-of-point-piper-mansion-is-sydneys-third-highest-price-ever-20130421-2i8fv.html constant and massive capital gain everytime it sells - better than managing countless IPs and you get the enjoyment of living...

Me, I tend to live very frugally as I am saving for retirement. This means that I tend to have a modest PPOR. But if I hit the jackpot, I would like something with access to the water, sweeping views of Sydney Harbour, modern and close to the city. With high end houses, there isn't much...

Thats incorrect. In Sydney, there reaches a plateau in prices high end houses with high end suburbs.

Yes it is a bit of a dump and will take getting used to if you have been living all your life in something like this around the 5m mark: http://www.realestate.com.au/property-house-nsw-mosman-113092527

My point is that if all your net worth is tied up in your PPOR when it comes to retirement and there are no other assets / income, it will mean a definitive downgrade in lifestyle if it requires selling of PPOR to free up funds for living. Therefore, I believe that to facilitate financial...

There are significant differences between 5m and 2m houses.

The only problem with expensive PPOR is that you cannot really access it to buy cars, flights to Europe and groceries without incurring significant interest costs. So if a person's net worth is all tied up in their 5mil PPOR and there were no other assets nor income, their lifestyle would be...

Anytime that you can afford it. If you have 5mil cash or investments, it is not unreasonable to buy a 100k mercedes e class but probably unwise to buy a 1mil rolls royce. Spending on a 3 mil house would also be excessive. So it all depends on how old you are and how much dollar you have and...