Please explain ! Medicine in oz is a Medicare funded $$$ gravy train.
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What age do you plan to retire?
- Thread starter ianvestor
- Start date
I'm intrigued, what sort of businesses. If you don't want to post here but don't mind replying email me at [email protected].
Kev
www.gogecko.com.au
Some info on this post
I wonder what the business set up for franchising is? As a Franchisor it's always intruiging to look at other franchise models.
Thanks
Kev
www.gogecko.com.au
Imagine been one of these, getting winging tenents ringing you every day!!
I've only been investing since 2001, but haven't had a tenant ring me yet.
PM's are good for that.
I receive the statements via email in a pdf attachment with copies of the invoices for the expenses and repairs etc, and they are already deducted from the rent.
Daryl, I think a lot of forumites are fascinated by the fact that you were able to "retire" at age 30 using cashbond. I understand you started by doing up queenslanders etc., mind to say how many properties, net (or gross) worth etc to allow you to "retire" at 2003. And if you did not have a paye job, has it hindered you in building up your investment portfolio further (i.e. any difficulties in getting loans) ?
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Thanks Dazzling
I figure it’s not just motivational. We work about a third of our lives. If your not doing what you want it seems to me that your not only going to wast that third of your life but you may also damage the other two thirds as well. To me it is more common sense than motivational. We don't live long enough to wast time.
I figure it’s not just motivational. We work about a third of our lives. If your not doing what you want it seems to me that your not only going to wast that third of your life but you may also damage the other two thirds as well. To me it is more common sense than motivational. We don't live long enough to wast time.
One third of your entire life.....ya reckon ??
I take a different view Angelo.
The way I figure it, you put out big time for about 15 years, doing 8 hours a day, 5 days a week, a profession that drives you nuts and is so tediously boring....but you're reasonable at it and get paid really really well for.
Use that income to set your own businesses up on the sideline, crank that gearing up to the max....to the point where the GFF gets large enough that you can tell the boss "thanks but no thanks".
That's a total of 8 x 5 x 48 x 15 = 28,800 hrs = 3.5 years
Dunno about you, but for me, taking 3.5 years out of my life to grit my teeth, close my mouth and put up with whatever they throw at me, get down and dirty, go hard and economically set up the other 105 years....(yes I plan on living a looong time).....I don't consider that a large sacrifice at all.
I reckon it's closer to 3% of my time....nowhere near a third of my life. Definitely a small price to pay for living outrageously well for the remaining 97% of my life.
I take a different view Angelo.
The way I figure it, you put out big time for about 15 years, doing 8 hours a day, 5 days a week, a profession that drives you nuts and is so tediously boring....but you're reasonable at it and get paid really really well for.
Use that income to set your own businesses up on the sideline, crank that gearing up to the max....to the point where the GFF gets large enough that you can tell the boss "thanks but no thanks".
That's a total of 8 x 5 x 48 x 15 = 28,800 hrs = 3.5 years
Dunno about you, but for me, taking 3.5 years out of my life to grit my teeth, close my mouth and put up with whatever they throw at me, get down and dirty, go hard and economically set up the other 105 years....(yes I plan on living a looong time).....I don't consider that a large sacrifice at all.
I reckon it's closer to 3% of my time....nowhere near a third of my life. Definitely a small price to pay for living outrageously well for the remaining 97% of my life.
Dazzling
A good portion of our society will work from about 20 – 65, perhaps even later than that. My Calculations say that that’s about 45 years. Lets say that we live until 80. That would mean that if we are in a miserable job til 65 we get to “enjoy” ourselves for 15 years before we die. This isn’t exactly the prime or our lives.
As for working hard and setting yourself up I couldn’t agree with you any more. I’m doing this and quite enjoying my self while doing it.
You mention working hard for 15 years in a profession that drives you nuts and is so tediously boring and then using this money to build up your portfolio on the sidelines. If you want to work in such a profession for 15 years go right ahead. My only question is surely this couldn’t be the only thing you’re good at doing and surely you couldn’t be saying that finding a more enjoyable profession is something that wouldn’t be worth pursuing.
A good portion of our society will work from about 20 – 65, perhaps even later than that. My Calculations say that that’s about 45 years. Lets say that we live until 80. That would mean that if we are in a miserable job til 65 we get to “enjoy” ourselves for 15 years before we die. This isn’t exactly the prime or our lives.
As for working hard and setting yourself up I couldn’t agree with you any more. I’m doing this and quite enjoying my self while doing it.
You mention working hard for 15 years in a profession that drives you nuts and is so tediously boring and then using this money to build up your portfolio on the sidelines. If you want to work in such a profession for 15 years go right ahead. My only question is surely this couldn’t be the only thing you’re good at doing and surely you couldn’t be saying that finding a more enjoyable profession is something that wouldn’t be worth pursuing.
Yeah, but if you save and invest, especially if you start early, it isn't going to take you 45 years.
I know I'm a bit stuck in my profession because changing would mean a big pay cut.
Alex
I'm good at many things, and I enjoy many things.....but that's not the point of the discussion.
As Alex has mentioned, it's the money. No more - no less. All of these corporate group hug sessions and pats on the back and promotions and grandiose titles and little perks and benefits mean diddly squat to me.
I think and act like a corporation, it's solely and utterly about the cash.
Dazzling
I don’t know why you mentioned corporate hug session. I personally have never had one of these and don’t ever intend to.
Anyway I hope you reach your goal in the 15 year timeframe you suggest. Given that investing involves a degree of risk, God forbid that things don’t work out for you and you end up having to work for another 15 years in a profession you dislike.
As for me I am totally happy to have moved from my previous profession to a profession which is totally different and one I thoroughly enjoy. I know if it took me a little longer to reach my goals I certainly wouldn’t be suffering because of it. I am also pretty sure that people preform best when they are doing what they like most.
Alex I’m totally with you. It shouldn’t take 45 years. Particularly if you thoroughly enjoy what your doing and excel at it and if you’re investing on the side. And as Dazzling indicates, even if you don’t enjoy what you do, you can still set yourself up for retirement in 15 years. My belief still is and always will be that I would rather enjoy the 15 years than suffer during them. My 45 year comment was primarily directed at the majority of people who will be working till 65+
All the best guys
I don’t know why you mentioned corporate hug session. I personally have never had one of these and don’t ever intend to.
Anyway I hope you reach your goal in the 15 year timeframe you suggest. Given that investing involves a degree of risk, God forbid that things don’t work out for you and you end up having to work for another 15 years in a profession you dislike.
As for me I am totally happy to have moved from my previous profession to a profession which is totally different and one I thoroughly enjoy. I know if it took me a little longer to reach my goals I certainly wouldn’t be suffering because of it. I am also pretty sure that people preform best when they are doing what they like most.
Alex I’m totally with you. It shouldn’t take 45 years. Particularly if you thoroughly enjoy what your doing and excel at it and if you’re investing on the side. And as Dazzling indicates, even if you don’t enjoy what you do, you can still set yourself up for retirement in 15 years. My belief still is and always will be that I would rather enjoy the 15 years than suffer during them. My 45 year comment was primarily directed at the majority of people who will be working till 65+
All the best guys
Cheers mate. Like most people, my "comfy life" goals were set far too low. Reached them after 9 years of investing.
Decided to re-evaluate and set completely outrageous goals beyond most people's wildest dreams. Attained that level 18 months ago.
Now it's just bald faced greed that keeps me here working. They keep throwing cash at me despite what I do.
Thirteen years all up and she's just about over. Fifteen is not necessary.
Rents flowing in at 2 a year and capital growth conservatively at 5 a year....all passive with tenants who don't whinge and bleat.....the beast is on auto-pilot now.
Rents flowing in at 2 a year and capital growth conservatively at 5 a year....all passive with tenants who don't whinge and bleat.....the beast is on auto-pilot now.
this is the key. CIP can and does grow, just as cash sucking RIPs do. I am meaning to say, you can get cap growth without fundign massive losses on a weekly basis
What's wrong with enjoying yourself whilst you're working AND investing.
Life doesn't have to stop because you take the initiative to invest in your future. It may mean pulling your horns in a bit, just have to find the right balance.
Regards
Marty
Nothing wrong with working AND investing, infact that's what we have chosen to do. Work hard, damn hard to get to where you want to go AND invest on the side!
I agree with Angelo in that you should have an element of enjoyment in what you are working in, this should be in all areas of your life, work, investing, friends etc.
I personally have no time for things that I don't like, I would not do a job that I didn't enjoy or waste time with people that are anchors! (hold you back). If people, circumstances, jobs are not to my level of satisfaction, I'm out of there!!!
I agree with Angelo in that you should have an element of enjoyment in what you are working in, this should be in all areas of your life, work, investing, friends etc.
I personally have no time for things that I don't like, I would not do a job that I didn't enjoy or waste time with people that are anchors! (hold you back). If people, circumstances, jobs are not to my level of satisfaction, I'm out of there!!!
Xenia:
...and
Kissfan:
Absolutely!
For me there is nothing that I would be involved in unless I had a passion for it or found it rewarding. That may involve income producing choices/work or not.
I roared into this world with a passion for life, I seem to have accrued even more passions and fervour, our financial independence is well on track....I am totally responsible for my contentment, happiness and contribution to the world and if it isn't up to scratch I fix it or find something that does meet my satisfaction and expectation(s).
Ergo I will leave this world, (not too soon I hope!) knowing I have never wasted a minute on anything then my loves, passions, focus etc...
Life is too short, for me, my perception on my life, my existence; I have done exactly what I have wanted from go and will until woo...yes, some of it has been challenging and hard work, but passion comes first and that seems to override any sort of challenge or negative aspect that may arise...and it has the propensity to make time fly..
Life is fun for me, investing is fun for me, any career I undertake must be fun...I am on the greatest ride of my life..I love following my bliss.
**Life begets life. Energy creates energy. It is by spending oneself that one becomes rich.**
Sarah Bernhardt
French actress
(1844-1923)
...and
Kissfan:
Absolutely!
For me there is nothing that I would be involved in unless I had a passion for it or found it rewarding. That may involve income producing choices/work or not.
I roared into this world with a passion for life, I seem to have accrued even more passions and fervour, our financial independence is well on track....I am totally responsible for my contentment, happiness and contribution to the world and if it isn't up to scratch I fix it or find something that does meet my satisfaction and expectation(s).
Ergo I will leave this world, (not too soon I hope!
) knowing I have never wasted a minute on anything then my loves, passions, focus etc...Life is too short, for me, my perception on my life, my existence; I have done exactly what I have wanted from go and will until woo...yes, some of it has been challenging and hard work, but passion comes first and that seems to override any sort of challenge or negative aspect that may arise...and it has the propensity to make time fly..
Life is fun for me, investing is fun for me, any career I undertake must be fun...I am on the greatest ride of my life..I love following my bliss.
**Life begets life. Energy creates energy. It is by spending oneself that one becomes rich.**
Sarah Bernhardt
French actress
(1844-1923)
