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From: Pamela Richardson
Dear subscribers
I have been reading your forum with great interest and appreciation, yet with a feeling of panic at the little I have done to try and ensure my financial independence by retirement (60-ish). I will be 50 in a couple of months, am single and live on a relatively lowly wage (approx. $37-38000). However, on the bright side I have a home with no mortgage ($300k) and my first, recently purchased IP ($177,500 with $26k equity).
My question is that given my salary - even with likely increments over the next 10 years - would I be fanciful in thinking I could purchase enough property to allow for financial independence by 60? viz - to live to my current standard of living - not necessarily great wealth. I understand that no-one has a crystal ball in front of them but would be grateful for any feedback from those who have experience and knowledge over a period of time of acquiring property. Perhaps I am asking too much of you.
Pamela
Dear subscribers
I have been reading your forum with great interest and appreciation, yet with a feeling of panic at the little I have done to try and ensure my financial independence by retirement (60-ish). I will be 50 in a couple of months, am single and live on a relatively lowly wage (approx. $37-38000). However, on the bright side I have a home with no mortgage ($300k) and my first, recently purchased IP ($177,500 with $26k equity).
My question is that given my salary - even with likely increments over the next 10 years - would I be fanciful in thinking I could purchase enough property to allow for financial independence by 60? viz - to live to my current standard of living - not necessarily great wealth. I understand that no-one has a crystal ball in front of them but would be grateful for any feedback from those who have experience and knowledge over a period of time of acquiring property. Perhaps I am asking too much of you.
Pamela
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