How long have you been in this property game and have you retired yet

Well, roughish plan is to retire in my 40s (20 odd years time) and live off rent. To achieve this the lazy mans way was thinking of just purchasing a house every few years over 20 years then sell some down to reduce debt and retire off rents. Not looking for much, maybe circa $1,000 pw after tax in todays dollars.


My question is to all those that have been investing for a significant time, how long have you been investing, did you achieve retirement and is this lazy strategy achievable over 20 odd years.
 
20 years is a long time a i think you will find your goals changing over that time. I vaguely remember thinking the same thing and how great it would be to retire and then I found myself in a position too recently and with young kids at school and an enjoyable job that paid well I dont believe I'll ever retire as the thought of playing golf on wed.'s with the old blokes is not that appealing.....yet. Anyway you need goals and PI is pretty bullit proof as an investment vehicle, just need a job to cover the loss and a mindset to withold goodies as you accumlate. If you have a job you enjoy it no longer becomes an effort to get up in the morning so why leave something that you enjoy - that maybe a new goal of yours?
Also, the more self discipline you have the faster it will be that you will have a choice. To many variables to calculate an end date.

What slowed me down is some dumb ideas a few yrs ago that having a paid off PPOR would be the ideal and a couple of PI's kicking along. After selling 3 and making a few bucks and paying cash for a PPOR i really messed up. Then the 500k reno etc sucked some spare bucks. I mentioned to the old man, yeah i could retire buy a place for 600k cash and put 1.5 in bank shares, couple of ips sweet....and then he said...oh yeah, "and then what".
think about it.
 
Well, roughish plan is to retire in my 40s (20 odd years time) and live off rent. To achieve this the lazy mans way was thinking of just purchasing a house every few years over 20 years then sell some down to reduce debt and retire off rents. Not looking for much, maybe circa $1,000 pw after tax in todays dollars.


My question is to all those that have been investing for a significant time, how long have you been investing, did you achieve retirement and is this lazy strategy achievable over 20 odd years.

Well your question is not really directed at me but i am following your line of thinking.

Currently 32
Would like to retire at 50 ish.
Income of $1,300 would be nice so that would mean around 5 properties.

My concern is what do you do when you stop. If you succeed in early retirement you sure as hell will not be surrounded by similar aged people that are also retired thats for sure. I have slightly changed my plan.At 50 i want to

DO WHAT I WANT :)

this can mean many things.
reduction in work hours
Change to a more enjoyable job on lower pay
Start a new career
Live like a hermit.
Freedom to up and go when i want.

point is choices without having to worry about continual employment to pay bills.My plan to get there does not have to change its just the goal posts that have changed shape.

Cheers
 
I guess I want to know from the seasoned investors here is if this strategy is comfortably achievable as it will be my worst case scenario
 
My question is to all those that have been investing for a significant time, how long have you been investing, did you achieve retirement and is this lazy strategy achievable over 20 odd years.


We've been at it 11 years, with 2 worked incomes. I've made some bad decisions along the way - like really bad.

Even then, we're now at $500pw net coming in from properties, but over the coming 2 years we intend to pay down the rest of the loan and bring it to $1000 pw.


So yes, your 20 years should be easily achievable.

Cheers,

The Y-man
 
We're already doing exactly what we want to do and would happily continue doing it forever. Would rather do it in a larger house, however. This one is ... small.

The big problem is, a fair slab of our income still comes from the friendly little paperwork makers at Centerlink, so our goal over the next 2-3 years is just to change the source of our income rather than the amount. Funny thing is, as we get more from other sources, the Centerlink stuff stays the same (although the amount of paperwork you need to fill in skyrockets) so our household income keeps going up ... weird system they have. I should go look at the FTA/FTB rules again. And of course, you don't get FTA forever ...

Other folks round these parts who want to do 'nothing' just go have a few (more the merrier) kids and get them all diagnosed as early as possible with ADHD for the extra carer's allowance. Its a very effective way to make $70k+ a year tax free, but not really my cup of tea.
 
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