Well yes, that's what we're doing too, but I'm not sure whether I'm qualified to do this accurately and correctly.
The last financial advisor my accountant sent me to tried to sell me trees, so I don't have much faith in them.....
JB
Investor's Ultimate/End Goal
- Thread starter magma
- Start date
Well yes, that's what we're doing too, but I'm not sure whether I'm qualified to do this accurately and correctly.
The last financial advisor my accountant sent me to tried to sell me trees, so I don't have much faith in them.....
JB
Fair enough! And yes, that Financial Adviser sounds like they were complete *****.
Perhaps our situations are a little different too, as when I say "put stuff into a spreadsheet and project", I'm really talking about stuff that is somewhat fixed (ie incoming rents, rate of repayments, CPI, relevant interest rates etc). So I guess that works better when you are fairly well into the accumulation phase. If you are talking about a strategy that involves moveable/non-specific events such as "buy IP#x in $XXX,XXX range in 2 years, then IP#x+1 in $XXX,XXX range in 3 years...", then yes, spreadsheets are going to be somewhat less useful.
And look, that's what I would say I need to retire comfortably too. And I have 14 years maximum until I retire.
But I need someone to analyse what I'm doing now to reassure me that in 14 years I will be where I want to be, or if not, what I have to do to plug the gap.
JB
What's your current position? How much are your assets worth and how much debt do carry and how much is your salary and how much is your passive income?
If you let down your pants, we'll easily be able to tell you if you're on the right track. If you don't feel comfortable with that (like many people wouldn't) then it won't be as easy.
But without knowing these figures, I can't tell you too much.
The good news is that 14 years is a long time and should be enough to reach a goal similar to mine, unless you've got an exceptionally low income, negative equity or high outgoings that you can't cut down.
Edit: I just read your signature and I'd be a little surprised if you didn't reach your goal in the next 10 years.
May I PM you? It would be great to get a second set of eyes over my financials.
Thanks
JB
Sure thing.
