Serious investors and travel costs

[Monopoly]

Well, seeing as t'is (silly) season again, and I've been out amongst some of the season's best (or so it appears).

You see at a recent NYE party I got to chatting to some (so called) "serious" investors who for some reason wanted to go on, and on, and on....(yawn) about the "ridiculous cost of travelling thesedays"!!

One particular long time associate, a lady who rarely EVER says boo about the cost of ANYTHING shocked me off my seat when she came out with "we just spent 10 days in the US and it cost us $40,000" to which I laughingly added "ohhhh 5-starring it all the way were we??" Oops okay big mistake....t'was not well received!!! Solution, alcohol of course....I handed her my drink (which incidently I hadn't started yet) and suggested she needed it more than I did, and turned to walk away. I mean really, as long as she enjoyed herself who cares right?? Nope, she came after me to shout at the top of her lungs "it surprises me how you can be so flippant about the costs of travelling, especially as you are a "serious investor""!!

Huh?? What the @#$% has that got to do with the price of tea in China??!!! Don't investors (serious or otherwise) go on holidays??? Are they expected to backpack wherever they go?? Or maybe they're not supposed to take overseas trips unless they win them in some competition??

Am I missing something here??

Oh and FWIW I am not ashamed to say I have paid $10K per week for holidays, but hey, I'm worth it!!!

 

[The Y-man]

Very rarely get to go on a holiday as long as a week!

Must say we have travelled on a resonably tight budget ..... as to whether it is related to being an investor? Probably not. Having said that, we try to find a tax justification before planning any trip

Cheers,

The Y-man

 

[BoatBoy]

We've always had pretty cheap holiday's camping up the beach, then got into yacht's and again pretty cheap.

Then Holidays revolved around building boat's for a few years, followed by more holiday's on the boat.

We had a great 3 month stint sailing the Qld coast on our last cat, and then a couple of month's in New Caledonia when we sailed her over for the new owners.

Part of the deal was a month on the boat while we were there.

While onboard we lived like God's for well under $200/week, even had bottles of Rum and other supplies flown in by seaplane once to Lizard Island, and still under $200/week.

Now our holiday's are spent staying in cheap pub's doing work on IP's and again building the new boat so that in a couple of year's the rest of our life will be one big holiday.

BB

 

[luce.rocks]

i've only ever flown cattle class, stayed with friends/rellies/in peniones/hostels/really cheap hotels/slept in airports, eaten supermarket food/home cooked/bistro food. but if i had the money, i wouldn't hesitate to fly business/first class and eat in yummy restaurants. i'd still probably choose to stay with friends where possible, cos i like their company more but where friends weren't an option, a lovely hotel with hot tub and in-house masseusse (sp?) would be just fine by me! one day...

 

[The Y-man]

i've only ever flown cattle class, stayed with friends/rellies/in peniones/hostels/really cheap hotels/slept in airports, eaten supermarket food/home cooked/bistro food. but if i had the money, i wouldn't hesitate to fly business/first class and eat in yummy restaurants. i'd still probably choose to stay with friends where possible, cos i like their company more but where friends weren't an option, a lovely hotel with hot tub and in-house masseusse (sp?) would be just fine by me! one day...

I actually prefer the supermarket (or local market in some places!) food, as I have specific dietary requirements (oh the joys of diabetes!). Strangely enough, I also feel disappointed with the food in many restaurants (probably because my wife is a ripper cook!)


Cheers,

The Y-man

 

[luce.rocks]

cheers Y-man, nice to know i'm not missing out on too much!

 

[pennyk]

Well, if you exclude airfares, we probably haven't spent that much. But we had a cracker of a holiday for our 10th wedding anniversary.
We bought a timeshare week a few years ago... (ok, I guess that means we've already spent too much money on holidays!)
But we've found that the weeks themselves are often not as good value as the discounted holidays they offer.
So, we wanted to go on a Caribbean cruise for a week, and got a great deal on that. Then we were going to spend the week before in the States going to Disney WOrld. But it was in school holidays, and the airfares were nearly 1/2 price if we went for an extra week, so we decided to visit some friends in the States as well. Then, the cheapest airfares were via Fiji, and we've always wanted to go there, so used our timeshare for accommodation there.
So, our 2 week holiday turned into a month long holiday - but cost us about 1/2 as much as a 2 week holiday would have!!
It probably cost us $18 000 altogether for 2 adults and 2 children. and we used the proceeds of the sale of an investment property. But as my dear husband said -its an investment into our marraige! So, it was definitely worth it!
Pen

 

[geoffw]

It probably cost us $18 000

But as my dear husband said

I think you have a VERY dear husband (probably cost more than a Penny)

 

[sailor]

I don't ever regret the money I've spent on holidays. I went for 10 years straight without having a break, and then realised just how fool-hardy this was in terms of my health. So for the past 5 years, I've taken a holiday at least every 12 months, ranging from a weekend camping in the bush, to a 5-week round the world trip. I certainly don't see spending money on holidays as counter to my being a serious investor...tis one of the perks and I've earned it.

I've just spent 5 days staying with reles at Noosa...gee twas interesting to see some of the houses down there. 3-bed unit for $4mill....blew my mind! We looked at about 20 places that were open for inspection. Took the camera and got some wonderful ideas for my PPOR reno!

I think part of being a serious investor is taking good care of you and yours....tis investing in yourself! Enjoy!

 

[kathryn d]

I've just spent 5 days staying with reles at Noosa...gee twas interesting to see some of the houses down there. 3-bed unit for $4mill....blew my mind! We looked at about 20 places that were open for inspection. Took the camera and got some wonderful ideas for my PPOR reno!

I think part of being a serious investor is taking good care of you and yours....tis investing in yourself! Enjoy!

Here in Canada,even though I haven't tried it as yet,you should be able to classify that trip as a business expense because you were "looking" for properties.Doesn't mean you had to buy any.
Next July when Rob and I go to Niagra Falls,I am thinking of booking a few property inspections, and build a trip around it.
Of course I will pick up a few of the REA's business cards for proof.
Maybe an email confirming an inspection date.

 

[sailor]

Thanks Kathryn, I did keep some business cards, and I have the dated phots to prove I was there. Great idea...thankyou.

 

[geoffw]

Here in Canada,even though I haven't tried it as yet,you should be able to classify that trip as a business expense because you were "looking" for properties.Doesn't mean you had to buy any.

An individual cannot claim these against income in Australia. I seem to remember that they could be claimed as a capital expense if you actually bought a property there.

A trust may be able to claim these expenses.

 

[sailor]

A trust may be able to claim these expenses.

Good one...thanks Geoffw! Will do!

 

[lizzie]

gosh - i must be a stingy holidayer. usually i spend time with rele's, so the only cost is airfare, a nice gift, some groceries and presents for the kids. otherwise i tag along while hubby travels for work and only have to pay my airfare, food and personal excursions (no accomodation or car), and because i now have the wee one, he always books into something that is selfcontained so i can cook.

otherwise we take the yacht off for an extra long weekend. but when one lives in a place as lovely as newcastle - with all the holiday amenities at home (beach, pool, vineyards, etc) we do find it hard to "go away".

i'm seriously looking into houseswapping with the uk or france (anyone done this?) and think it's a great way to have a holiday without the huge expense of accomodation in something that is self contained. most also have swap use of a car (have to check the insurance is covered) so don't have hire car either. i think it's a great idea.

the most i've spent on a holiday would be around $2000 for a family of five for a week when we took the big kids to the gold coast four years ago.

 

[geoffw]

Good one...thanks Geoffw! Will do!

The key word was "may"- the usual disclaimers apply- get professional advice before proceeding.

 

[cazandpaul]

Our passions in life are Hawaii and golf - 2 weeks away - 3 rounds per week for the two of us - a lot of shopping at the factory outlet stores at Waikele - think about the credit card when we get home.

 

[skater]

We go interstate every year & combine a holiday with our National Titles for skating. Problem with this is that you go to the same places after a few years. This year we have to go to the Gold Coast twice.

I would love to just go on holidays to some exotic place, but that will have to wait a few years.

 

[The Y-man]

I would love to just go on holidays to some exotic place, but that will have to wait a few years.

Fiji might be quite cheap at the moment.....

Cheers,

The Y-man

p.s. in all honesty, I suspect if you were on one of the islands during the coup, you probably won't even have known until you got home....

 

[BoatBoy]

Fiji might be quite cheap at the moment.....

Cheers,

The Y-man

p.s. in all honesty, I suspect if you were on one of the islands during the coup, you probably won't even have known until you got home....

You'd be right there, but I'd reckon it'd still be pretty expensive if the prices are anything like New Cal.

Cheap air fair to Fiji maybe, but I'd suspect Expensive when there.

Langkawi for me, 55c/litre diesel to run the boat, $10 AUD Carlsberg beer, incredibly cheap restaurant's

BB

 

[skater]

Regardless of how cheap the destination is, I will still have to wait. We have 4 in the family in the Aussie squad this year. The costs for this alone could pay for several IPs.