Hi, this is about my friend.
She had to retire at 55 and with no pension but had a lump sum super. This was about 8 years ago.
She owned her own home jointly with her husband. Had to sell 2nd house [IP] to pay for her 3 children's education. Her husband continued with a low paying maintenance man type of job.
She bought 3 cheap properties: 50K flats and then a more expensive 180K apartment. She didn't qualify for substantial loans so had to pay most of her super nestegg for the properties.
She continued working part time as a private tutor. Now she's a property manager extending from managing her own properties. She has 7 properties now.
Her husband and her children particularly her oldest daughter who's an air stewardess, said disparaging things about her property investing. They've since seen the light I think!!
When she retired, the eldest daughter wanted her to buy a new car for her father which of course my friend refused which caused a bit of a ruckus. I jumped [heavily] to my friend's defence. Rather loudly I may add. If she loved her father so much, why didn't she buy her father a car? What right had she to tell her mother what to do with her retirement money?
Eight years have passed and I'm glad to report that my friend is quite comfortable financially and is quietly enjoying her property jaunts. Last year, she scraped together 100K to help her son to buy an apartment.
If you think it's hard, take a look at my friend.
KY
She had to retire at 55 and with no pension but had a lump sum super. This was about 8 years ago.
She owned her own home jointly with her husband. Had to sell 2nd house [IP] to pay for her 3 children's education. Her husband continued with a low paying maintenance man type of job.
She bought 3 cheap properties: 50K flats and then a more expensive 180K apartment. She didn't qualify for substantial loans so had to pay most of her super nestegg for the properties.
She continued working part time as a private tutor. Now she's a property manager extending from managing her own properties. She has 7 properties now.
Her husband and her children particularly her oldest daughter who's an air stewardess, said disparaging things about her property investing. They've since seen the light I think!!
When she retired, the eldest daughter wanted her to buy a new car for her father which of course my friend refused which caused a bit of a ruckus. I jumped [heavily] to my friend's defence. Rather loudly I may add. If she loved her father so much, why didn't she buy her father a car? What right had she to tell her mother what to do with her retirement money?
Eight years have passed and I'm glad to report that my friend is quite comfortable financially and is quietly enjoying her property jaunts. Last year, she scraped together 100K to help her son to buy an apartment.
If you think it's hard, take a look at my friend.
KY
