Investing Game

While I'm not married yet and have only been with my girlfriend for less than a year, there is a clear trend emerging already.

She doesn't want to hear about how much money I owe or how much money I spend, but she really got into looking for my last IP and putting in her 2c.
We've talked about it and if all things keep going like they are now, I'll keep doing the investing and she'll come and look at the properties with me.
The one of the good things about her is that she's a very good saver.
 
spludgey said:
While I'm not married yet and have only been with my girlfriend for less than a year, there is a clear trend emerging already.

She doesn't want to hear about how much money I owe or how much money I spend, but she really got into looking for my last IP and putting in her 2c.
We've talked about it and if all things keep going like they are now, I'll keep doing the investing and she'll come and look at the properties with me.
The one of the good things about her is that she's a very good saver.
Click to expand...

Kind of similar situation...

Been with the girlfriend for over 2 years now.

She knows how much money I owe, at first was very concerned and just wanted to know when I would be debt free... She's only got Uni debt so she looks at debt as being bad (although I even explained that her uni debt is still good debt if it gets her onto the right path)

She enjoys coming and looking at the properties, but isn't a fan of how much time I spend on SS or re.com.au... Haha actually I think it's because I spend more time doing that then speaking with her sometimes :)

But I have shown her bit of what I plan to do, she is comfortable with it all as long as its not going to effect her financially in a negative way.
 
PT_Bear said:
60% are a reasonably collaborative partnership, and the other 40% have a clear bias where one person is driving the investment focus.
Click to expand...
Interesting, I thought it would have been 80% one and 20% collaborative.

Me and the wife are very much a partnership, she enjoys finding deals and looking, both of us have a similar risk profile, I read more and will point her in directions she wouldn't have thought to go, mining towns, interstate, etc.

Cheers
Graeme
 
My wife is very supportive and jumps in to help do any renovations and things that she can take on. We make a good team and we never clash, well at least with property.

She called me last Tuesday all excited saying. "I JUST HEARD ON THE NEWS THAT THE INTEREST RATE HAS DROPPED 2.5%

Well I thought it was funny. Thus I do the finances. Could not do without her though, and she did buy me my first IP book for Christmas back in 2001, otherwise I would still be in Amway trying to get rich.
 
Got this from a Google search (by Mark Laszczuk: 03-06-2008)

"Use a binding nomination to ensure benefits are passed on to the people you want. Superannuation assets are not covered in a will, as assets held in super are held in trust and must be transferred according to the trust deed. If you do not have a binding nomination, the trustee must disburse assets according to the trust deed. Note that binding nominations generally only last three years, so you must ensure this is kept up to date. Your super fund will notify you when your binding nomination is up for renewal.

Superannuation benefits paid to a dependent are generally tax free, but lump sums and pensions are treated differently. Lump sums paid to a dependant of any age are tax free, regardless of your age when you die. With income streams, if you are over 60 OR under 60, but the pension is paid to someone over 60 when you die, the taxed element of your super is tax free and the untaxed element (this is a rare situation) is taxed at marginal rates less 10%. If you are under 60 and the pension is paid to someone under 60, the taxed portion is taxed at the marginal rate less 15% and the untaxed portion is taxed at the marginal rate.

For non dependants, you must pay the benefits as a lump sum, since after 1 July 2007, pensions are not payable to non-dependents (I'm not sure if this only covered benefits from 1st July 2007 onwards or included existing pensions - doesn't matter in your case anyway). The benefits will be taxed at 15% max. for taxed benefits and 30% max. for untaxed benefits.

Definition of dependents:
- spouse (or previous spouse)
- de facto
- children under 21 years of age (I think may also include children up to 25 studying full time)
- same sex partners (about time, nice one Kevin! Cheers for bringing Australia out of the Dark Ages)
- anyone financially dependent on the deceased

There's probably more... Pretty sure I recall a few years ago that Costello told us we were going to have a simpler super system? LOL!
"
 
yup binding nomination is what i was thinking about.


this is not an area im an expert in but ive recently been looking a bit into it as my father is over 60 and i definitely think there are some significant benefits to paying a bit of attention to super
 
We tend to do different roles.

I'll do the big picture stuff eg timing , areas to look .

She will agree or sound a word of caution . She has done this in the last couple of weeks , but now ( appears to be ..) is happy that this is a time to expand our portfolio.

If we're deciding which properties to look at , one of will go and make an initial selection , then we'll both go through and decide on a final selection / list.

We look at properties together and both need to be happy before we buy .

Once we've bought a property , she's the one who has to clean up the mess I've made , by chasing up finance , reports , strata , solicitor . Etc

She's also the one who talks to pm's , accountants .

Each month we sit down and go over all the bills , repayments , expenses so we make sure every thing is tracking along ok . We did get out of the habit of doing this and it's quite scary how quickly spending habits and credit card balances can creep up.

In terms of overall process , I started everything going it wouldn't have been possible without her . I think it would be very hard to drag someone along if they were unwilling . A couple of times we've paused while we've taken time to adjust to a new level of exposure eg ringing up while she's watching sat morning school sport to say " guess what , I bought all three ... "

Cliff
 
We are collaborative, but I am the one who pushes it forward or puts the breaks on it all.
At the moment I know DH is keen to get going forward again, in particular he wants to work towards a bigger PPOR for us; but I have put the breaks onfor now. I am due with baby number 5 in 7weeks and have a much longer term view of our situation. I'm instead trying to redirect his focus towards other investments (shares etc) to build up a decent deposit for a better PPOR then we could afford currently, without having to sell our current one. (our current issues are with servicibility not equity).
 
Currently living with my girlfriend, I've done most of the work in terms of finding the place, dealing with conveyancer, REA etc. She's not really interested in PI but I still tend to run ideas past her and take her along for seminars if she wants to. Works great for us :)
 
I drive the investment side of things in our family however, in saying that, having the support of my wife is fantastic.

I'd have to concede that on occassions I get the blinkers on and run a hundred miles an hour at it without stopping. My wife has a wonderful ability of slapping me around the chops and reminding me to live in the moment especially when it comes to family matters and the kids.

My wife also understands that we, together, are creating a better future for ourselves and she truely believes in me and what we are doing. We managed to skrimp and save and purchase several properties since 2007 along with having 3 beautiful children, and if the market continues to run like it is for a while and make some good gains this side of the cycle, well..... it's all been worthwhile and when the next cycle comes around we'll generate some serious wealth.

Jack
 
JT7 said:
I drive the investment side of things in our family however, in saying that, having the support of my wife is fantastic.

I'd have to concede that on occassions I get the blinkers on and run a hundred miles an hour at it without stopping. My wife has a wonderful ability of slapping me around the chops and reminding me to live in the moment especially when it comes to family matters and the kids.

My wife also understands that we, together, are creating a better future for ourselves and she truely believes in me and what we are doing. We managed to skrimp and save and purchase several properties since 2007 along with having 3 beautiful children, and if the market continues to run like it is for a while and make some good gains this side of the cycle, well..... it's all been worthwhile and when the next cycle comes around we'll generate some serious wealth.

Jack
Click to expand...


Amen..... I am assuming your IPs are in Sydney, happy days ahead:)
 
see_change said:
she's the one who has to clean up the mess I've made ...

Cliff
Click to expand...

Eg this morning I sent about 10 emails to different agents outlining what we are looking for in a property with her name and contact details on it so she can organise and coordinate things

Sorry Vicki ...

Cliff
 
Hubby and I haven't bought anything together yet. Theoretically he supports my desire to invest in property but it's kind of hard to do anything when he keeps changing jobs every few months. I know with each change he's getting a little bit further ahead in terms of salary and position, but we're talking small increments, and in the mean time there's a whole property boom just passing us by...
 
I do probably 80% of the work in terms of researching, keeping all our records organised and following up things. He is very supportive and provides some feedback every now and then :p
 
luce.rocks said:
Hubby and I haven't bought anything together yet. Theoretically he supports my desire to invest in property but it's kind of hard to do anything when he keeps changing jobs every few months. I know with each change he's getting a little bit further ahead in terms of salary and position, but we're talking small increments, and in the mean time there's a whole property boom just passing us by...
Click to expand...

Why is the change in jobs holding you back if he is being promoted each time?

Is it in the same industry?
 
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