Kum as it is just myself and assuming that a house is paid off....100k net is very good. It is the equivalent of earning $140k per annum. Not many people have this net ....and if you are retiree....you would be in top 0.5%.
I am not planning to throw in the hat totally till my mid 50s....that would give me only about 30-40 years to fund for. I have a plan to eventually have 6-8 good quality properties (preferable units) in Sydney to manage.
As for moving property to SMSF....I believe you cans still do it post tax. I think limit is still 450k over a 4 year period. I not totally sure but will get advice on this at some point.
I am not planning to throw in the hat totally till my mid 50s....that would give me only about 30-40 years to fund for. I have a plan to eventually have 6-8 good quality properties (preferable units) in Sydney to manage.
As for moving property to SMSF....I believe you cans still do it post tax. I think limit is still 450k over a 4 year period. I not totally sure but will get advice on this at some point.
Hi Sash,
I like your response to this question. I have employed the same mix at various times plus I had to sell recently, earlier sold from choice / speculative {Sigh}fear while I was still working. That was a BIG mistake.
I have singled out my comments to you because we were in the same bracket in one poll on passive income.
I have quite a few years on you & I remember thinking now that's the position I should have been in when I was 40.
I have retired for 7 years & found that I need more income than expected. I'm still tweaking & trimming. Comfortable & more than most people have but big time spending, no no. Not as much fun when having to watch the $
$60K after tax is still in the ordinary bracket. Even for a single retiree like me, don't ask me why!!
Maybe your $100K needs revision? Especially in Sydney.
Good luck with your planning.
Kum Yin