Living off Equity - is this still an option?

[Monopoly]

LVR = 0% is this smart???

Steve,

I have been trying to respond to each individual part of your post here, and each time I try to "submit" I keep getting told there are too many "smilies" in my response (mind you, I didn't even include ANY!!)

So I guess I will have to keep it brief (first time for everything hey??) in answering at least one of your key questions. NO an LVR of 0% is not smart far from it. I pay way way too much unnecessary tax, but then again, if you're not paying the taxman, you're paying your tax agent / accountant (to keep you from paying TOO MUCH TO the taxman) or alternatively you're paying the bank, either way you're paying someone!!! It just depends on who you can pay the least too right??? I don't believe in not leveraging against equity to expand one's portfolio, it's just that up till now I've been fortunate enough not to need to. Remember though, it was a lot simpler years ago, house prices were not as they are today and although wages were equally not as they are now, it still was a very different ball game!!! And finally, I didn't get to this point with "just property" although they contributed immensely, without the aid of shares to boost things along a bit, I would not have made it thus far.

Cheers,

Jo

 

[Steve Navra]

I keep getting told there are too many "smilies" in my response

. . . I didn't get to this point with "just property" although they contributed immensely, without the aid of shares to boost things along a bit, I would not have made it thus far.

Yes Of Course . . . 'tis why I loooove you so

Regards,
Steve

 

[Pete]

Stop somersoft!!!!
Why? Somersoft is the best link I have to networking with other IP investors.
I'm sorry but that coment went over my head.

Could you please explain that again.

Thankyou
Mark P.

Apologies, Mark. My thoughts were not clearly expressed. I totally agree about the value of somersoft. My comments were relating to when one has achieved financial goals and, as an individual, no longer requires somersoft for that part of one's life. One could cease participation and concentrate on other parts of one's life. I did not intend to suggest that somersoft would cease to exist, rather that the financially established individual might no longer participate.

regards,

 

[markp]

Apologies, Mark. My thoughts were not clearly expressed. I totally agree about the value of somersoft. My comments were relating to when one has achieved financial goals and, as an individual, no longer requires somersoft for that part of one's life. One could cease participation and concentrate on other parts of one's life. I did not intend to suggest that somersoft would cease to exist, rather that the financially established individual might no longer participate.

regards,

HI PETE

If you think your time would be better spent fishing or some other pusuit,then I understand that, but please leave me your contact details should you exit from somersoft.

Thanks
Mark P

 

[Kennethkohsg]

I've enough assets already and it will grow of itself with time.

***************************************8
Dear Pete,

1. I've not sure whether you really and seriously mean exactly what you said here, word for word...

2. 2 years ago, I once know of one local Australian developer and his wife who is known to have a combined property asset portfolio of A$32 million in Australia. They also have a property sales branch office in Singapore, which is located inside one of the expensive and prestigious commercial buildings along the Orchard Road belt area.

3. Two years later on in 2005 and I am being told recently by my own Australian migration agent that they have reportedly gone "bankrupt" now in Australia and have to shut down their Singapore brnach sale office as well as lost all their previously accumulated material wealth.

4. I have re-visited their Singapore branch office location last Friday and I can confirm that it is no longer there nor still exist one in Singapore.

5. I have used to tell some of my own Singapore associates that I will try to use this developer to "pace" myself, in the wealth creation process. Today, he is no longer in the race, though I am still in the run. Inevitably I have "overtaken" him by default on the basis of his bankruptcy, rather than my own wealth creation acheivement.

6. Likewise, I understand that Valuair will soon stop flying the present Singapore-Perth-Singapore flight route, due to poor business outcomes, some time during mid October 2005.

7. Personally, I am much "humbled" by these 2 events failing. For prudency and long term safety reasons, I would want to review my own wealth creation strategy which is based on the use of productive debt and leverage.

8. I think sometime it is so easy for us to forget about "safety" and "SANF" midst our own enthusiasm in property investing and use of productive debt, being concerned with maximising our profits returns through leverage.

9. In the words of Roger Hamilton, an up and coming wealth creation guru in Asia, "True Wealth is what we are left behind after we have lost all our monies and material wealth!"

10. For your kind update, please.

11. Thank you.

regards,
Kenneth KOH

 

[Kennethkohsg]

I already don't know what do with myself.

****************************
Dear Pete,

1. I find this statement familiar. I think it was said by Brad Sugars as well.

2. Perhaps, you may want to read up more on Brad Sugars and find out how bored he was when he first retires below the age of 30, after achieving his financial freedom at the age of 25.

3. I sometimes wonder why and how smart people like Brad Sugars could think and come to this conclusion that he can effectively "retires" from his own true life passions and his pre-determined life destiny/calling unless we are being called home by the Lord, isn't it?

4. As I understand, today Brad Sugars has gone back to doing his business consultancy business again, serving as its CEO and to head the Action International and his franchised group of buisness consultancy companies worldwide, as well as ESC Success Entrepruneurs Centre in New Zealand.

5. In the proverb and wisdom from the East, " there is always another mountain coming once we have climbed up to the peak of our present mountain top!"

6. For your kind update and considerations, please.

7. Thank you.

regards,
Kenneth KOH

 

[willair]

9. In the words of Roger Hamilton, an up and coming wealth creation guru in Asia, "True Wealth is what we are left behind after we have lost all our monies and material wealth!"

Kenneth KOH,
do you know what country Roger Hamilton comes from?
good luck
willair..

 

[markpatric]

****************************
Dear Pete,

1. I find this statement familiar. I think it was said by Brad Sugars as well.

2. Perhaps, you may want to read up more on Brad Sugars and find out how bored he was when he first retires below the age of 30, after achieving his financial freedom at the age of 25.

3. I sometimes wonder why and how smart people like Brad Sugars could think and come to this conclusion that he can effectively "retires" from his own true life passions and his pre-determined life destiny/calling unless we are being called home by the Lord, isn't it?

4. As I understand, today Brad Sugars has gone back to doing his business consultancy business again, serving as its CEO and to head the Action International and his franchised group of buisness consultancy companies worldwide, as well as ESC Success Entrepruneurs Centre in New Zealand.

5. In the proverb and wisdom from the East, " there is always another mountain coming once we have climbed up to the peak of our present mountain top!"

6. For your kind update and considerations, please.

7. Thank you.

regards,
Kenneth KOH

The bigger they are the harder they fall!.

Good points, I have managed to have quite a lot of time out of the rat race, and I agree the most important thing is to work and be a part in day to day trading which is another reason I don`t like the idea the gurus uphold that we can all be rich and not work and that employees or people in menial type work are just tax paying pawns in a rich mans game, no matter how rich or successful you are you should NEVER expect others to do something you would not readily do.
Everyone plays an important role, imagine running the best restuarant in town and everyone refused to clean the place, a very empty lifeless shell it would become in a matter of days.
This apathy toward work is already prevelant enough without the gurus giving everyone the very false notion they are wasting thier existence.
Just one of the many damaging falsehoods planted for thier own material gain.

 

[Pete]

I've enough assets already and it will grow of itself with time.

My assets have an adequate value to generate income for my modest requirements. For me, my wealth goals are satisfied. There are important elements to my life - not financial - and I am now concentrating on them. As the asset base will grow in value faster than I draw on it, it will of itself grow. I will continue to monitor the investments and maintain my strict risk management practices.

That, Ken, is in an explanation of what I meant. I maintain that thinking and, am most comfortable with my present position. I am unclear if you think differently. I doubt it given your recent return to Singapore whilst your daughter is doing her exams. I can only assume my original comments were interpreted other than I intended.

I already don't know what do with myself.

To me, that is how most of us live our lives. Again, I'm very comfortable with my present position.

As posted earlier, I'm doing things that I enjoy at a workplace, socially and, though not mentioned above, spiritually. Spiritually for me is not religious - I have plenty of time to myself to think - I walk to work & back every day, have done for 10 years, and also have been doing yoga for 6 years now. I get away each year to have more quiet time - such as a trip around Australia in the beautiful, spiritual landscapes of this continent and my time in Greece in August.

Best wishes to all.

 

[see_change]

I don`t like the idea the gurus uphold that we can all be rich and not work and that employees or people in menial type work are just tax paying pawns in a rich mans game, no matter how rich or successful you are you should NEVER expect others to do something you would not readily do.

Everyone plays an important role, imagine running the best restuarant in town and everyone refused to clean the place, a very empty lifeless shell it would become in a matter of days.

This apathy toward work is already prevelant enough without the gurus giving everyone the very false notion they are wasting thier existence.
Just one of the many damaging falsehoods planted for thier own material gain.

Yeahhhhh !!!!

See Change

 

[Monopoly]

Yeahhhhh !!!!

See Change

I'll second that "yeahhhh"!!! And if I may add, that there are many benefits (aside from the obvious financial aspect) to working. One which stands out the most, is a sense of accomplishment in fulfilling even the simplest of tasks.

I believe boredom is a very real problem in retirement, and once you have travelled the world over, had your fill of days lazing in the sun and/or skiied every slope, climbed every mountain, and shopped the "retail therapy" completely out of your system, all that remains is a feeling of "emptiness" UNLESS you put something meaningful back into your life. And for me, I've found immense (indescribable) fulfilment in volunatry work. Sure, it don't pay too good (actually, it don't pay AT ALL) but then who cares, I'm lovin' it!!!

 

[geoffw]

I believe boredom is a very real problem in retirement

That's why you changed your name from "monotony"

 

[redwing]

My assets have an adequate value to generate income for my modest requirements. For me, my wealth goals are satisfied. There are important elements to my life - not financial - and I am now concentrating on them. As the asset base will grow in value faster than I draw on it, it will of itself grow. I will continue to monitor the investments and maintain my strict risk management practices.

That, Ken, is in an explanation of what I meant. I maintain that thinking and, am most comfortable with my present position. I am unclear if you think differently. I doubt it given your recent return to Singapore whilst your daughter is doing her exams. I can only assume my original comments were interpreted other than I intended.



To me, that is how most of us live our lives. Again, I'm very comfortable with my present position.

As posted earlier, I'm doing things that I enjoy at a workplace, socially and, though not mentioned above, spiritually. Spiritually for me is not religious - I have plenty of time to myself to think - I walk to work & back every day, have done for 10 years, and also have been doing yoga for 6 years now. I get away each year to have more quiet time - such as a trip around Australia in the beautiful, spiritual landscapes of this continent and my time in Greece in August.

Best wishes to all.

Sounds Like a great life and lifestyle to me Pete..

Congratulations on achieving it !

REDWING

 

[Kennethkohsg]

My assets have an adequate value to generate income for my modest requirements. For me, my wealth goals are satisfied. There are important elements to my life - not financial - and I am now concentrating on them. As the asset base will grow in value faster than I draw on it, it will of itself grow. I will continue to monitor the investments and maintain my strict risk management practices.

That, Ken, is in an explanation of what I meant. I maintain that thinking and, am most comfortable with my present position. I am unclear if you think differently. I doubt it given your recent return to Singapore whilst your daughter is doing her exams. I can only assume my original comments were interpreted other than I intended.



To me, that is how most of us live our lives. Again, I'm very comfortable with my present position.

As posted earlier, I'm doing things that I enjoy at a workplace, socially and, though not mentioned above, spiritually. Spiritually for me is not religious - I have plenty of time to myself to think - I walk to work & back every day, have done for 10 years, and also have been doing yoga for 6 years now. I get away each year to have more quiet time - such as a trip around Australia in the beautiful, spiritual landscapes of this continent and my time in Greece in August.

Best wishes to all.

++++++++++++++++++++++++++++++++++++++++++++==
Dear Pete,

1. Well said. I am very happy for you. My personal congratulations to you, please.

2. You have indeed reached Abraham Maslow stage of self-actualisation" to a large extent. and I think that you are now proceeding further to pursue your own spiritual journey in life.

3. To me, my own wealth creation path is also a spiritual journey of continual self-discovery and service to others and the wider society . It is not, how much material wealth that I have created and accumulated that is important;- but rather, how I self-discover more of myself, how much I can/have been of service to others and can/had been helping to make this world a better place to live for all mankind in my own small little ways, as I move along in my life, in this pursuit of wealth for the subsequent use of the accumulated wealth to benefit others and the wider world out there.

4. For your kind update, please.

5. Thank you.

Cheers,
Kenneth KOH