I thought I'd use my 3000th post to share my current goal and status.
Current situation: Age 37, well paid career, have PPOR + 8 IPs.
Goal: To have $150,000 per year investment income in 2005 dollar terms, pre-tax.
Method: Buy a bunch of IPs, pay down PPOR, use extra cashflow to pay down some debt, then when ready to retire start withdrawing equity (slowly and over a period of some years) to buy well yielding blue chip shares.
Status: Well on the way. Property portfolio now comfortably cashflow positive, I'm earning lots more than I spend so paying down (the new) PPOR very quickly, enjoying the occasional holiday, enjoy my job. Originally wanted to reture at age 45, but thinking I'll do several short term consultancies each year to provide some extra income for holidays and fun stuff, working maybe 6-8 montsh each year.
My biggest achievement, though, is a happy marriage and two wonderful children.
All in all, I have nothing to complain about.
Current situation: Age 37, well paid career, have PPOR + 8 IPs.
Goal: To have $150,000 per year investment income in 2005 dollar terms, pre-tax.
Method: Buy a bunch of IPs, pay down PPOR, use extra cashflow to pay down some debt, then when ready to retire start withdrawing equity (slowly and over a period of some years) to buy well yielding blue chip shares.
Status: Well on the way. Property portfolio now comfortably cashflow positive, I'm earning lots more than I spend so paying down (the new) PPOR very quickly, enjoying the occasional holiday, enjoy my job. Originally wanted to reture at age 45, but thinking I'll do several short term consultancies each year to provide some extra income for holidays and fun stuff, working maybe 6-8 montsh each year.
My biggest achievement, though, is a happy marriage and two wonderful children.
All in all, I have nothing to complain about.