When is your "time to spend"?

[lizzie]

Cute puppy Lizzie..is it a pitbull?

Your guess is as good as ours ... but definately no pitbull.

We believe there is some Retriever and Border Collie - we thought there was some Staffy but have been told possibly not - his siblings had Beagle markings ... I'd say it's a bitzer that had a rendevous with a bitzer.

 

[BayView]

My point is that if all your net worth is tied up in your PPOR when it comes to retirement and there are no other assets / income, it will mean a definitive downgrade in lifestyle if it requires selling of PPOR to free up funds for living. Therefore, I believe that to facilitate financial independence, it is best not to spend too much on ppor.

I guess they could always do a reverse mortgage and leave the crumbs for the kids after the post-funeral estate settlement.

 

[china]

Unless your PPOR is like this one:

http://smh.domain.com.au/real-estat...-third-highest-price-ever-20130421-2i8fv.html


constant and massive capital gain everytime it sells - better than managing countless IPs and you get the enjoyment of living in it.

This sort of PPOR is probably worth sinking all your income, equity, assets into holding.

 

[Angel]

How much of the Point Piper house is real value and how much is perceived value or hype? Try selling it in an emergency like a nasty divorce during a Financial Crisis and see how much real value it offers.

 

[DaveM]

Unless your PPOR is like this one:

http://smh.domain.com.au/real-estat...-third-highest-price-ever-20130421-2i8fv.html


constant and massive capital gain everytime it sells - better than managing countless IPs and you get the enjoyment of living in it.

This sort of PPOR is probably worth sinking all your income, equity, assets into holding.

Very nice place.

Plus you could scoff at the neighbours $5m-10m dumps

 

[cimbom]

I don't think Australian real estate is good value for money in that price bracket. I'd rather buy a penthouse in New York City overlooking Central Park for that price

 

[china]

Plus you could scoff at the neighbours $5m-10m dumps

That alone is priceless and worth paying 33 mil for.

But I cannot see how I can achieve 33mil in this lifetime. 33 mil would put you probably in the top 2000 of wealthiest Australians?

 

[The Fence]

That alone is priceless and worth paying 33 mil for.

But I cannot see how I can achieve 33mil in this lifetime. 33 mil would put you probably in the top 2000 of wealthiest Australians?

Why not, you already show you can save, now all you have to do is earn and invest?

However, if you think you cant, then you certainly won't, that's for sure.

 

[locko24]

Why not, you already show you can save, now all you have to do is earn and invest?

However, if you think you cant, then you certainly won't, that's for sure.

Yep.
You'd only need to save a measly mill per year to be worth 30 mill by the age of 70. Too easy!

 

[china]

Yep.
You'd only need to save a measly mill per year to be worth 30 mill by the age of 70. Too easy!

30 mil in 40 years time can probably just buy a big mac value meal. Or I need to invest in good things like the report below suggests:

http://www.news.com.au/realestate/b...prices-to-double/story-fndban6l-1226626822141

 

[kathryn d]

30 mil in 40 years time can probably just buy a big mac value meal. Or I need to invest in good things like the report below suggests:

http://www.news.com.au/realestate/b...prices-to-double/story-fndban6l-1226626822141

I'll be 93 in 40 yrs, and won't have nearly that much money...will you buy one for me then?

 

[china]

I'll be 93 in 40 yrs, and won't have nearly that much money...will you buy one for me then?

No worries one for you, me and your hubby as well.

 

[kathryn d]

No worries one for you, me and your hubby as well.

great..thanks

 

[kathryn d]

China,
On a more serious note, do you consider having this much money sitting in a bank to be risky?
Accounts up to a certain amount are insured, so you would need to utilise a lot of bank accounts.

 

[Ace in the Hole]

That alone is priceless and worth paying 33 mil for.

But I cannot see how I can achieve 33mil in this lifetime. 33 mil would put you probably in the top 2000 of wealthiest Australians?

You're earning what, 1 mil/annum?
Just double your income every year and there's 30 + mil for you in 5 years.
Not easy, but definitely possible.
5 years is a very long time in business.

Most businesses should be able to double year on year, with applied effort.
Well, maybe not those that are already on top of their industries, due to market saturation, but syrely even they could open up new markets to expand into.

 

[BayView]

Most businesses should be able to double year on year, with applied effort.

How on earth do you figure that?

So; the $500k turnover business should be earning $1mill next year, then $2mill the next year and so on?

Or are you talking about gross profit, or nett profit, or market share, etc????

Without even trying I could think of perhaps 100 businesses that haven't done any of the above....and many of these would be well known businesses that everyone uses.

 

[Ace in the Hole]

Ability to do something, and actually doing it are 2 different things.
So my meaning by "should be able to", was realy saying there is no reason why it's not possible.
I didn't actually mean to say that most businesses should double their profits year on year.
Most struggle just to survive.

All I'm saying is that it is possible, quite possible.
Even as you say, you know of 100 businesses that haven't achieved this, there would be businesses that have well exceeded this growth.

 

[china]

You're earning what, 1 mil/annum?
Just double your income every year and there's 30 + mil for you in 5 years.
Not easy, but definitely possible.
5 years is a very long time in business.

Most businesses should be able to double year on year, with applied effort.
Well, maybe not those that are already on top of their industries, due to market saturation, but syrely even they could open up new markets to expand into.

Unfortunately not for me. My earnings have varied from 200k to 1.4mil gross and it is quite unpredictable from year to year so I cannot project where I will be next year let alone 5 years. All I know is that I need to grow savings from year to year so that my net asset position is increasing.

 

[Ace in the Hole]

Unfortunately not for me. My earnings have varied from 200k to 1.4mil gross and it is quite unpredictable from year to year so I cannot project where I will be next year let alone 5 years. All I know is that I need to grow savings from year to year so that my net asset position is increasing.

What do you do?
Why is it so unpredictable?

 

[nhg]

Unfortunately not for me. My earnings have varied from 200k to 1.4mil gross and it is quite unpredictable from year to year so I cannot project where I will be next year let alone 5 years. All I know is that I need to grow savings from year to year so that my net asset position is increasing.

Not sure what you do. But have you attempted to automize your business? Even if profits go down 50% it will free you up to do other things.

It is hard but ive heard very doable in most instances.