Retirement- Yipee!!

Congratulations Darryl, well done. I can only imagine what you are feeling at the moment and it must feel good. Truly inspiring. Once again, well done and good luck to you. Don't forget us peasants and let us know what you're up to every now and then.

Regards

Marty
 
Congrats Darryl,

the only thing I'd like to add is.............

ONLY 3 MORE SLEEPS TO GO!!!

Regards and Good Luck
 
Congrats, Daryl, that is wonderful news and I hope that retirement is as good for you as you dream it to be.

Enjoy!!
 
Congrats Darryl,

You are out of the rat race in 3 days time and I am honestly envying you.

Also congrats to Steve to have made another person's dream come true.

Tibor
 
Hi all,

Thanks for all the warm regards. I will attempt to answer some of the questions

MJK
To buy a cashbond you need to times your annual income you want from it by the number of years you want it, eg 50k for 5 years = 250K

Interest rate is 4.5% versus loan of 6.25%

No for simplicity I have not deducted interest costs from the 62.5K cashbond

Always Learning

I am spending <3% of portfolio value per year, so would have to have very ordinary returns over a period of time to not keep increasing wealth. So when my wife saw this on paper she was quite happy about it (especially me getting to spend more time with her and my son)

No I am not relying on rent increases for future cashbonds to pay for the previous ones. You increase the amount of you future cashbonds to cover the repayments for the previous ones and CPI.

I have no probably getting in more debt as long as I can see I am still going forward. As for the banks changing their rules, I am sure you could find another way to finance.

ABC

How did I do it? I bought run down old houses, did them up, revalued them and borrowed to buy the next one.

Dtraeger2k

I just turned 29. I bought me first house a month after I graduated uni (when I was 23), took about 18 months to buy second one (took me that long to know I could), 6 months to be third, 3 months to buy 4th, had a break and then bought when I could.

My 2nd last house is negatively geared as it <1km CBD, the rest are either neutral or very slightly positively geared so amount from cashbond to service properties is <5k

Gordon Gekko

Did I plan to reitre at this age? No my originial goal was to have 3 properties by 30. Did everything go to plan? No originally intended to sell properties after I did them up, luckily for me I kept working out ways to keep them, Have never sold one yet and hope I never do.

Layer 181

What net worth do you need to acheive this? Gross worth is probably more important, if you work on spending 3% of growth worth than you need 2mill gross worth at less than 80%LVR for 60K income. If I had known what I know now I reckon I would have been out a year or 2 ago. From memory Steve Navra talks about spending up to about 5% of your growth worth. He goes into in detail in his seminars, highly recommend attending


I hope I haven't missed any questions

Darryl
 
G'day RPI,

Impressive !!! Enjoy it, (and thanks for answering all of those questions - that is a massive help to a bunch of others).

Don't be a stranger now, will you? ;)

Regards,
 
Thanks RPI

I think I will have to attend one of Steve's courses, just means flying to the east. Seems worth it though. If I can get out in the next couple of years that would be great. Hey if I could retire now that would be great.

Well done, enjoy the time with kids.

Cheers
Quoll
 
Hi Darryl

Congratulations, you might turn your hand to a book so people can see that it an be done. I've been seriously thinking about retiring and stories like yours at age 29 are impressive.

well done.
 
Thanks Dar
I have been trying hard not to overwork last 2years but Have 5 kids with 3 still at home never seems enough money to retire on.
Had heart bypass surgery 2 years ago,so have been looking at ways to slow down.Have just sold ppor in sydney.2 ips in gold coast.Figure move in one then work on some strategy for income.Perhaps I should attend one of steve's seminar.
Thanks again for sharing
layer181
 
Hi

Thanks guys for all the well wishes, they were unexpected and very much appreciated.

I hope I have answered all the questions. Please feel free to post anymore or PM me and I will happily answer.

I would like to especially thank Steve Navra and Sue-ellen from Navra. I normally don't reccommend courses to people but I think attending one of Steve's is definetly worth the money, actually probably 3 times the money.

Darryl
 
Originally posted by RPI
I would like to especially thank Steve Navra and Sue-ellen from Navra. I normally don't reccommend courses to people but I think attending one of Steve's is definetly worth the money, actually probably 3 times the money.
Click to expand...

Darryl,

Sssshhhhh - if Steve is listening he might raise his prices ;)

I hope you don't disappear entirely from the forum Darryl now that the Rat Race is behind you!

Cheers,

Aceyducey
 
Congrats Darryl,

And good onya Steve.

I must say, if there's one course everyone should do, it's yours.

Even if you never use a Cashbond, the volume of information accessed at the one day-er is amazing.

Hope to see you at more BIG events, Darryl.

asy :D
 
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