Investor's Ultimate/End Goal

[magma]

For me, being a married mid-30 year old MEL city dweller, my end goal is to have a small apartment in the city (fully mortgaged) and another IP (fully mortgaged) on the same building when I retire. The IP's main purpose is to pay for the outgoings of both properties.

I reckon if you know what your end goal is, you can set a certain financial plan realistically and prevent you from "overworking" on something that you may not need in the future (I know there's no such thing a too much cash). But this way, you can set the lifestyle you want and exert just the right amount of effort to get there.

 

[EN710]

My end goal is upgraded every couple of years

Was a place to live and passive income to not to have to work
Then a house with garden and passive income to not to have to work
Now a house with big garden and a 25m lap pool at the least and passive income to not to have to work
like this but not on island, I want it to be close to everywhere http://www.kamekura.com/Properties/TRISARA-Hamilton-Island-Queensland/f4d4e121-65e8-4c77-8799-ce437f9976fa

 

[Biz]

Paid off PPOR and 100k or so passive income. Will probably keep doing some kind of work.

 

[Aaron Sice]

end goal is one house for each kid paid off for them to leverage and go.

and maybe one or two for myself along the way.

all my IP loans were, and will be, P&I.

onto a few good things at the minute so hopefully i can get started again this year.

 

[Deltaberry]

I have no end goal, but have short-term goals every now and then.

 

[Ace in the Hole]

Yeah, same here, no end goal, when is the end?

 

[evan1875]

The end is to see how big the thing called net worth can get, before I kick the bucket.

It is fun, no?

I think investing will be for life, and hopefully be in my family for generations.

It all started with discovering Somersoft.

 

[Charlotte30]

Agree with the two previous posts. I just set more goals really. Why stop? When I don't want to invest in property anymore I will stop.

 

[MIW]

Agree with the two previous posts. I just set more goals really. Why stop? When I don't want to invest in property anymore I will stop.

Agree with most, what end goal? We set one then we set another, just as in life we make and change plans...
For me the end goal, would be to die well, living a satisfied life, feeling sense of purpose and accomplishments, knowing I was able to grow and was able to give to those in need...

 

[perthguy]

My goal is to retire with an income that allows me to continue investing. Not because I need the money but because it is something that interests me and something I enjoy. I like residential property because it is interesting to research areas and find out what makes them tick, find an undervalued house, get it cheap, fix it up and get a good rental return

I want to develop the same interest in shares and build a modest portfolio.

At this stage my income streams in retirement will be residential rents and super. I would like to add dividends to that but that is a work in progress. On my to do list is to learn a lot more about commercial property investing. At some stage I might cash in some RIPs and buy into some CIPs. It would make a lot of sense for me. I don't think I'll be trying to manage residential tenants when I'm 80.

 

[Terry_w]

The path is the goal.

 

[Deltaberry]

Isn't there a saying, the end is the goal, but it is the journey that is important.

 

[Ace in the Hole]

The journey is what counts, who you become is what matters most.

If you had a goal to make one million dollars in one year:

One guy with no real plan risks a few grand to buy lotto tickets, flukes it and gets his million bucks easily and instantly.
He feels like the luckiest guy in the world.

Another guy makes thorough plans, dedicates himself completely to his goal, takes massive action and makes adjustments along the way to stay on track, putting in the absolute effort of his life for the full 12 months and just makes it with days to spare.
Complete accomplishment of a highly unlikely goal at the time of starting.
He now feels like he can achieve anything he puts his mind to, and is high on confidence.

Who would you rather be?

 

[BayView]

The journey is what counts, who you become is what matters most.

If you had a goal to make one million dollars in one year:

One guy with no real plan risks a few grand to buy lotto tickets, flukes it and gets his million bucks easily and instantly.
He feels like the luckiest guy in the world.


Who would you rather be?

The Tatts winner.

No agents,
No tenants,
No work.

Then employ someone - using part of the winnings - to be this bloke for me to continue making more millions:

Another guy makes thorough plans, dedicates himself completely to his goal, takes massive action and makes adjustments along the way to stay on track, putting in the absolute effort of his life for the full 12 months and just makes it with days to spare.
Complete accomplishment of a highly unlikely goal at the time of starting.
He now feels like he can achieve anything he puts his mind to, and is high on confidence.

 

[Eugen234]

Being a property investor is a lifestyle. It ends when your life ends.

 

[nhg]

Being a property investor is a lifestyle. It ends when your life ends.

Amen.

It is hard to explain to people. For me, it is just another form of personal development, one which requires me put something on the line and not just sit in a room or 'walk on fire'.

 

[HomePage]

My ultimate goal is to have a diversified retirement portfolio comprising of a government pension, super income from a balanced fund, index share funds paying mostly fully franked dividends, fixed interest holdings, my PPOR owed outright and an IP owned outright. I already have everything listed here except the IP, but that will be sorted within the next decade. I'm not too keen on managing an IP in retirement as I like the passive income nature of everything else, so family will live in it and pay its overheads by default. The IP will only be rented out if one of my other major investment streams falls over completely and I need the money.

 

[James Bond]

Question:

Assuming you have set your goal (whatever it may be) what is the best way to ascertain whether the plan you are executing will get you there?

JB

 

[travelbug]

I had a $$ goal which I wanted to achieve in 6yrs but upped it after 2yrs.

Goals change and grow (hopefully) but agree with others that there is no "end" goal. I never want to end (well maybe if I'm 95 and sitting in a nursing home).

I have no $$ goal now. My goal is to enjoy the ride.

Just found this- which I like.
Take pride in how far you’ve come. Have faith in how far you can go. But don’t forget to enjoy the journey.
- Michael Josephson - Speaker and Former Law Professor

 

[hobo]

Question:

Assuming you have set your goal (whatever it may be) what is the best way to ascertain whether the plan you are executing will get you there?

JB

For us, it's by laying out the figures in spreadsheet/s and projecting them forward to see when (on paper) whatever specific milestone we are looking at, is achievable.