Also want to do an overseas trip every 2 year's whilst working towards my goal. Could be abit far fetched, but you gotta dream bigfirst trip to Europe is in 2 months so I'm on track lol
I'm the same but hoping for one a year
At what age do you plan to be financially free?
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I'm the same but hoping for one a year
I'm the same but hoping for one a year
Yea this was part of my original plan, but thought id stretch it out to every 2 so that I have abit of extra cash for my investing
Yea this was part of my original plan, but thought id stretch it out to every 2 so that I have abit of extra cash for my investing
Im at a similar stage. Travelling, highly recommended.
Am turning 27 in a couple of months. Currently I go overseas 1-2 times a year. I would say I 'invested' a lot by travelling, it really broadens your life view. Have you ever read the four hour work week?
Instead of a month off here and there im planning 6 month trips now. If you have positive IPs or neutral, it really is a better way to travel. Use the time to really get to know a culture and learn a new skill.
The expensive part is flying out of aus and the cost of daily accomodation. Once your over there for a longer period of time, you can see more for less. I feel I will regret not doing at least one long stint before im 30.
It was going to be in my 40s but I'm fastracking a little with my acquisitions last year.
I have 21 mths left in my 30s and I think I can make it
I'll still have the debt monster but be free enough to work for myself developing.
We are very similar Westminster, 23 months left in my 30s. Just dropped to working 3 days a week last week, woohoo!! Planning to have that down to zero days by the end of the year and fully financially free before 40, when my current development projects are completed.
I'm 35 today! Bought my first IP 16yrs ago, plan to be financially free by 39.
We (wife and me ) hold 10ips now, half of which added in last 18months. My plan will be easily acheivable by 39, but in the back of my mind I think we can do it sooner. If we can get ip income to $40k we will both just work 2 days per week. Plenty of time with the kids then while they are young!
Ben
We (wife and me ) hold 10ips now, half of which added in last 18months. My plan will be easily acheivable by 39, but in the back of my mind I think we can do it sooner. If we can get ip income to $40k we will both just work 2 days per week. Plenty of time with the kids then while they are young!
Ben
I'm 33 and was planning on being financially free by 38, but now I too have some long term travel plans which put a spanner in the works - perhaps a revision necessary - financially free by 40.
We are very similar Westminster, 23 months left in my 30s. Just dropped to working 3 days a week last week, woohoo!! Planning to have that down to zero days by the end of the year and fully financially free before 40, when my current development projects are completed.
Congrats Matt - almost there!
In the last 7 years I've worked only the last 18mths full time - I'm going out strong lol! The 18mths full time improved my servicability and allowed me to do 2 projects at once.
What are your plans for when the current projects are finished?
Happy birthday Ben!
I used to want to do it ASAP, but now I'm doing what I love, I couldn't give a rats! Still working towards full ff, obviously, but not so much urgency anymore. Just strolling along the boulevard enjoying the scenery instead of with the blinkers on focussed on a tiny blip on the horizon. I could buy another IP right now (well, once I get a couple years of tax returns under me belt), but I decided to shift focus to commercial IPs a few years ago (thanks Dazz!) and it takes a wee bit longer to save a deposit.
Busier now than when I was working full time. I don't know how people manage to hold full time jobs, bleh!
Busier now than when I was working full time. I don't know how people manage to hold full time jobs, bleh!
That's because when you work for yourself you actually have to work to get paid!
Will finish my current 3 developments, while starting to build up my website (should be about 2 months away from going live now). I have really big plans for the website and some interesting ideas in my head that I will love seeing come together.
Eventually I would like to build a PPOR which is also a development, (I can't stand the thought of paying retail for property again), but want to get everything else in line first and have a chance to relax for a bit, after a really hectic year. At one stage I had 4 development sites and a fulltime job while developing what will end up as a pretty complex website, so I think I will deserve a decent break.
The last job I had, I was doing the work of three people (literally - when I started there, there were three people on my section, then two left and I was on my own for 6+ months, then the boss hired another person, who we didn't need). When I went to my boss and asked for a raise, as I was getting paid 20% below market rates and asked to be put up to market, pointing out that I was doing (and doing well) the job of three people, he said 'no'. So I quit. I guess that makes me a spoiled, ungrateful, entitled employee. Well, ex-employee :/.
I'd always aimed for 45, but now I'm thinking that I'll continue working on a part-time-ish basis for much longer, as I enjoy what I do and the money is great.
Ideally I'll work about 8-10 months per year until my kids finish school. I'm currently 37.
Ideally I'll work about 8-10 months per year until my kids finish school. I'm currently 37.
I too am heading in this direction, though feel I could use a couple of years worth of IP under my belt before moving to CIP.
What price range are you looking at entering at. It seems to me the NET return deals don't really kick in till you get to say, $1M. I'm just taking a stab here. I looked at a few $300-400k CIP but they were all GROSS.
A few variables.
I'm 28 now. If my rezoning goes through I could theoretically be financially independent by 30.
But, I've invested into the business now, so I'd prefer to grow that as well and be really financially independent at 35.
I enjoy what I do so I'll probably keep on doing it even after that. Just have more time for travel.
I'm 28 now. If my rezoning goes through I could theoretically be financially independent by 30.
But, I've invested into the business now, so I'd prefer to grow that as well and be really financially independent at 35.
I enjoy what I do so I'll probably keep on doing it even after that. Just have more time for travel.
I'm nearing 28 now. Bought PPOR in 2010, purchasing IP#1 this year, likely turning PPOR into IP soon after, then spending the next decade accumulating and investing. By choice, I'm remaining a single man, no interest in a partner, so it'll be a bit of a slog (never know what can happen though).
It wasn't until after buying my PPOR that I really started laying down investment plans. Prior to that I was ignorant of the fact that of how feasible buying IPs is on an average income. I learned heaps during and after purchasing. So, I only awoke a couple of years ago.
Goal is to be ABLE to retire in my 40s, however, I'll happily work in some form for most, if not all of my life. Which I hope will stretch to about 100 years given the astonishing progress of medicine and technology.
It wasn't until after buying my PPOR that I really started laying down investment plans. Prior to that I was ignorant of the fact that of how feasible buying IPs is on an average income. I learned heaps during and after purchasing. So, I only awoke a couple of years ago.
Goal is to be ABLE to retire in my 40s, however, I'll happily work in some form for most, if not all of my life. Which I hope will stretch to about 100 years given the astonishing progress of medicine and technology.
28 years old, bought first IP at 22 . Did some proper planning around age 23 with a view to be financially free by replacing my employment income with investment income by age 40.
About 6 years in at the moment and tracking pretty well by holding around $2mil in gross assets. The plan is a slow and steady accumulation of assets while spending slightly below my means, but also keeping a balance and enjoying life now.
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