Hello all, seek some collective wisdom here.
Age 52, $1 mil in share/super & $1m in property equity. Would like to quit the corporate jungle desk job for my sanity and health reasons. Can I afford to quit the rat race ? I don't have expensive taste, living expense $50K will do, the biggest expense is my kids high school fees around $20K for the next 2 years. Have not been able to find a genuine and competent FP (as rare as hen's teeth) at reasonable rate, most are MF salesmen who want to charge the price of a new car for the SOA, and a used car every year after to tell me how to suck egg, such as salary sacrifice into super and buy income/life insurance so they can keep the kickbacks coming.
My question is : how can one base on increasing equity ask the lender to top up the loans to live on if one is not a PAYE/in business to have a payslip (with no doc loans disappeared), and the only income is the rent. Cash bond (Steve Narva) used to be all the rage few years back but don't hear it anymore. Remember an article on Rob Williams he mentioned that he could retire now but not sure what his strategy is.
I am not ready to sit on the rocking chair & knit all day yet (I am a male, not sure what men do when they retire) , but just want to live freely, have been a battery hen/chained monkey, or as some put it gently, corporate slave, for far too long.
Age 52, $1 mil in share/super & $1m in property equity. Would like to quit the corporate jungle desk job for my sanity and health reasons. Can I afford to quit the rat race ? I don't have expensive taste, living expense $50K will do, the biggest expense is my kids high school fees around $20K for the next 2 years. Have not been able to find a genuine and competent FP (as rare as hen's teeth) at reasonable rate, most are MF salesmen who want to charge the price of a new car for the SOA, and a used car every year after to tell me how to suck egg, such as salary sacrifice into super and buy income/life insurance so they can keep the kickbacks coming.
My question is : how can one base on increasing equity ask the lender to top up the loans to live on if one is not a PAYE/in business to have a payslip (with no doc loans disappeared), and the only income is the rent. Cash bond (Steve Narva) used to be all the rage few years back but don't hear it anymore. Remember an article on Rob Williams he mentioned that he could retire now but not sure what his strategy is.
I am not ready to sit on the rocking chair & knit all day yet (I am a male, not sure what men do when they retire) , but just want to live freely, have been a battery hen/chained monkey, or as some put it gently, corporate slave, for far too long.
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