New friend got retrenched - Importance of savings buffer

Hi

I met a new friend (aged 48) yesterday and over coffee she told me she just got retrenched. She hasnt got any savings and is happy her rent is not due for 3 weeks so she can scrimp and put some money together. A friend of hers might have a few odd cleaning jobs for her and she will use that money to pay the bills. She also applied for centrelink too.

I woke up feeling very grateful this morning. I am in a very good position and have lots of options. I realise and it reinforces to me that my number one priority is to have a decent amount of savings behind me so that if something like that were to happen to me and I lost my job I wouldnt be stressing out about how to pay my bills. I want to have at least a 6 month emergency buffer if I needed to find another job. I know I wont need 6 months to find another job but its the SANF that I'm after. Its important to have the cash as unexpected expenses come up all the time. You can for instance pay a $2600 roof bill like what happened to me last year with out any loss of sleep.

I truly believe I was meant to meet her. I'm into all this universe and law of attraction stuff and that the universe puts people, situations and events in our path for us to learn from and as a warning! I'm reading this great book called "Ask and it is given - How to manifest your desires" (hicks - the teachings of abraham) Go buy this book its amazing!!

Ok so my plan is to sell my underperforming 41 sqm property. If I sold it today I would get around $240 k for it. I have a $200 k loan on it. I'm going to test the waters in spring like the agent suggested and see if I can sell it for $260 k.

As well as building up my cash buffer through my own saving and selling my ip, I plan to buy in brisbane soon and something that will perform a lot better than a 41 sqm unit.

I still plan to be reasonably agressive with my investing. Currently I have $17,000 in savings after paying for my car in cash and I'm saving $1000 every month.

Here is my strategy

1. Focusing on captial growth with some NG

2. 7 - 20 km from the Brisbane CBD

3. Townhouse or villa aged between 2 - 7 yr old
(means less maintenance/repairs)

4. A bit of depreciation

5. Will attract a good quality tenant

6. Somewhere there is a good rental demand and vacancy rate.
 
ok my angels just whispered in my ear to look at the clock, guess what the clock says!! 11:11

Go and google what 11:11 angel number means!

Just off the top of my head... When you see that number think positive thoughts about what you want to happen and you are on your way and very close to manifesting it. :D hehe
 
ok my angels just whispered in my ear to look at the clock, guess what the clock says!! 11:11

Go and google what 11:11 angel number means!

Just off the top of my head... When you see that number think positive thoughts about what you want to happen and you are on your way and very close to manifesting it. :D hehe

Probably means the clock needs fixing, your posting time was 2:13pm:D:D
 
She got retrenched: she would have to be paid out. She got the sack: no redundancy payment.

Which is it?

People would like us to believe them but they see the world through rose coloured glasses.
 
She got retrenched: she would have to be paid out. She got the sack: no redundancy payment.

Which is it?

People would like us to believe them but they see the world through rose coloured glasses.

She had only been in the job for 6 months. She didnt get a pay out.

Maybe she used the wrong term, what happened was she got laid off
 
She got retrenched: she would have to be paid out. She got the sack: no redundancy payment.

Which is it?

People would like us to believe them but they see the world through rose coloured glasses.

Good people still get cut lose with nothing. I've had a few employers go broke on me then it's a case of line up with the other unsecured creditors
 
Probably means the clock needs fixing, your posting time was 2:13pm:D:D

because the SS clock is on AEDST ... means Alex's clock is 2 minutes different ... and woohoo on getting 11:11 ... I had 171-818-919 in quick succession the other day ... loved it
 
Small business don't have to pay out redundancies if less than certain staff (15 I think).
We had 2 let go this week that had been with the company less than 1 year, 1 weeks notice with no redundancy.

Not over stretching while I build new house has certainly been on my mind recently. 12 months ago I would have considered my job guaranteed but now the projects we were relying on are being cut back or canceled. There is not much alternative work going either locally.
 
She has very little to lose if she doesn't own anything - has no mortgage or negatively geared property, or other property related expenses that Centerlink payments can't cover.

Worse case scenario if she doesn't quickly find another job (any job) is she has to find somewhere cheaper to rent, or she takes in a boarder.

That would be the extent of her loss.
 
Hi

I truly believe I was meant to meet her. I'm into all this universe and law of attraction stuff and that the universe puts people, situations and events in our path for us to learn from and as a warning! I'm reading this great book called "Ask and it is given - How to manifest your desires" (hicks - the teachings of abraham) Go buy this book its amazing!!


Are you trolling?

I really can't tell sometimes.

It really makes me shake my head when I hear people talk like this. Whether or not the OP is being serious there are definitely people out there that really believe this sort of stuff. But honestly the monumental arrogance that must just come so naturally for someone to truly believe that they are so amazingly important that it just makes sense to them that the whole universe is there to pay attention to them and do stuff for them just baffles me. People talk about how our generation has an attitude of entitlement. No wonder books like The Secret sold so well. Of course this generation is going to believe that they are super dooper important, and entitled to everything they want. All they need to do is want stuff and demand it of the universe, then they'll get what they feel they are entitled to. In fact they are so entitled to what they want the physical scientific laws of the universe no longer apply, and the universe will magically bend to their will.

Imagine trying to sell that idea to our parents generation!
 
Are you trolling?

I really can't tell sometimes.

It really makes me shake my head when I hear people talk like this. Whether or not the OP is being serious there are definitely people out there that really believe this sort of stuff. But honestly the monumental arrogance that must just come so naturally for someone to truly believe that they are so amazingly important that it just makes sense to them that the whole universe is there to pay attention to them and do stuff for them just baffles me. People talk about how our generation has an attitude of entitlement. No wonder books like The Secret sold so well. Of course this generation is going to believe that they are super dooper important, and entitled to everything they want. All they need to do is want stuff and demand it of the universe, then they'll get what they feel they are entitled to. In fact they are so entitled to what they want the physical scientific laws of the universe no longer apply, and the universe will magically bend to their will.

Imagine trying to sell that idea to our parents generation!

The Feng Shui of your post is all wrong!

pinkboy
 
There is no arrogance or even self confidence remotely I. The op

She basically said it was fate or destiny or some kind of message to meet this person

It could also be interpreted to be

"be grateful with what you have"

Or

"get off your.butt and do.somethinf"
 
There is no arrogance or even self confidence remotely I. The op

She basically said it was fate or destiny or some kind of message to meet this person

It could also be interpreted to be

"be grateful with what you have"

Or

"get off your.butt and do.somethinf"

or
"Be in a position where I'm safe if that chain of events were to ever happen to me"
 
So if she was laid off, maybe this thread should be on the "Which way is the Economy heading?" thread.

Why was she laid off, by the way?
 
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