That's my plan also. Until this month I would have said 8-9 years away, but since buying a new PPOR I suspect more like 14-15 years away.
How Close are you to being able to Throw in the Job?!!
- Thread starter jingo
- Start date
That's my plan also. Until this month I would have said 8-9 years away, but since buying a new PPOR I suspect more like 14-15 years away.
Thats the thing that gives us the ability to retire in 5 years, selling our old PPOR CGT free and paying off our mortgage. I discovered that by doing so, it more than halved our original timeframe of 10-15 years down to 5, and we retire with a similar amount in equity. And we can either add to the portfolio over that 5 year timeline, or after, it doesn't matter. And thats the great thing about it, we will be free, and in no rush! With plenty of time on our side still. Fantastic 
For those who may be interested in reading more on our particular exit strategy, please see here: http://somersoft.com/forums/showthread.php?t=76524
This goal makes a total of 13 years investment. Three years was to save the deposit for that first property earning just $35,000p/a though so one could even say it took 10.
This goal makes a total of 13 years investment. Three years was to save the deposit for that first property earning just $35,000p/a though so one could even say it took 10.
I have not worked in 11 years apart from ip's maintenance,finished in my late 40,s, but i'm in no way retired because once you understand how important time is once you stop work you will think different in several ways,and i have made more money while not working then i ever did as a Plumber dealing with the general public each day and trying to sort out their mental problems
,from the money side i don't owe anyone one cent,have several unencumbered titles in the safe,and several other income streams,and the most important factor is time to do what ever i want how and when i want,,but another way too look at it is very simple.."Noone owns tomorrow",nor do you know how many weekends you have left in your life once your on the wrong side of "55"..
Sometime between now and 'retiring' I'd like to build either an attached duplex or two or a small block of units, maybe 4-6 of them. Built myself so there's only the cost of land/build and no strata.
Going to take a while to even get the deposit to buy the land together! No point building units in small towns so this is a city or large regional project. Relatively expensive land.
Could live off the rent from a project like that all through retirement, easy.
Going to take a while to even get the deposit to buy the land together! No point building units in small towns so this is a city or large regional project. Relatively expensive land.
Could live off the rent from a project like that all through retirement, easy.
I retired at 39yo...sold a business and a property and stuff and moved here to be with my new little boy every moment of his life.
I kept some property for income...
But, after 3 years of doing not much...I got kinda bored and wanted to build something...a little project that was part experiment, part hopeful income.
Built and sold that for a profit along with a steep learning curve.
Purchased a couple more properties, one has increased 500% in a few years, the other not so much. Main IP has increased in value 300% (actually, always consfused here...if something doubles in value...has it increased 100% or 200%...you know what I mean...anyway, the IP is 3 times what I paid for it 10 years ago.
But....now being retired for 10 years....I am looking to do things, several things and they range from farms back home, to high plains cattle leases in NZ, to a coastal caravan park....and even possibly full time reno's of properties back in Oz and flogging them again.....
So, retirement is not all it is cracked up to be....you get itchy feet....my kids are at school, so now basically cannot be with them 24/7...however I did spend every day and night with them up until the started school and any move to a new adventure has one clause.....school hours only.
I kept some property for income...
But, after 3 years of doing not much...I got kinda bored and wanted to build something...a little project that was part experiment, part hopeful income.
Built and sold that for a profit along with a steep learning curve.
Purchased a couple more properties, one has increased 500% in a few years, the other not so much. Main IP has increased in value 300% (actually, always consfused here...if something doubles in value...has it increased 100% or 200%...you know what I mean...anyway, the IP is 3 times what I paid for it 10 years ago.
But....now being retired for 10 years....I am looking to do things, several things and they range from farms back home, to high plains cattle leases in NZ, to a coastal caravan park....and even possibly full time reno's of properties back in Oz and flogging them again.....
So, retirement is not all it is cracked up to be....you get itchy feet....my kids are at school, so now basically cannot be with them 24/7...however I did spend every day and night with them up until the started school and any move to a new adventure has one clause.....school hours only.
I'm planning on leaving my job in 12-18 months to just do developing, which will feel the same as retirement for me, finally just being my own boss and with no real clients as such that I need to please. I am completing 3 developments in that timeframe with around $1 million profit. (2 of these are JVs, so that is just my share).
Great to win the lottery and know how to repeat it
Great to win the lottery and know how to repeat it
Very cool, well done.
Well im 23 and I think I will be able to throw in the job in 44 years! Maybe if im lucky haha.
serious though I do hope I can semi-retire around 50.
serious though I do hope I can semi-retire around 50.
Burning desire to be able to step away from my JOB (just above broke) in 3 years.
I'm on track and doing my best to make it in 2.
Mick
I'm on track and doing my best to make it in 2.
Mick
If something has increased in value by x times, then its % increase is x*100 then minus 100. ie. you have to subtract the original value (or 100%) to get the increase over the original value.
So, if your IP is now worth 3 times what you paid for it, that's a 3x100 - 100 = 200% increase.
2010 age 36.
These days i trawl the internet looking for investment opportunties to increase cash flow.
I also invest passively in small businesses taking small minority positions in businesses with people i know and trust (they still need my accounting/finance knowledge, i need them to work).
Funny because the GFC allowed my to do this
These days i trawl the internet looking for investment opportunties to increase cash flow.
I also invest passively in small businesses taking small minority positions in businesses with people i know and trust (they still need my accounting/finance knowledge, i need them to work).
Funny because the GFC allowed my to do this
Funny because the GFC allowed my to do this
Coz in EVERY challenge there lies an opportunity !
ta
rolf
exactly, but in the words of Warren Buffett', there must be sufficient funds on hand to take advantage of those opportunities when they arise.
Thats why there is a season for everything.
Too many people use the same strategy for every season.
Ecclesiastes: funny that something that has been writen 2000 years ago, is still relevant today. Somethings change, somethings always remain the same.
However i would say i thing here thats very important: i was lucky pre GFC. I have learnt alot in the last 4 years.
Depends. Probably the end of the year (knock on wood). Age 33 (but I look 25 and fabulous, I swear )
Truthfully though if things go well I'll probably just go into a different sort of business along with developing...I'm thinking either food or some sort of premisis that advocates binge drinking, preferably somewhere warm (or as arnie says "somewhare wahm") with lots of ladies that weigh less than 85 kilos
)Truthfully though if things go well I'll probably just go into a different sort of business along with developing...I'm thinking either food or some sort of premisis that advocates binge drinking, preferably somewhere warm (or as arnie says "somewhare wahm") with lots of ladies that weigh less than 85 kilos
