Where Do You Want To Be In 10 Years Time? In 20 Years?
- Thread starter BigCol
- Start date
Big Col, may I suggest that you're going to tie yourself up in a BIG knot due to too much information? Don't worry too much about what everyone else wants or is doing at the start. Just buy a property or two, run the numbers and then you'll have a better idea of what you can achieve.
Alex
Alex
My long range forecast tends to be 10 years, so 20 years is a bit too hazy 
Ten years time: If everything went smoothly (as it almost inevitably never will - but let's just blue sky here ) I would target an annual pretax income from my business of between $15~$20M per year, and an annual passive income of around $1.5M per year (should I decide to fold the business at that stage).
Cheers,
The Y-man
Ten years time: If everything went smoothly (as it almost inevitably never will - but let's just blue sky here
) I would target an annual pretax income from my business of between $15~$20M per year, and an annual passive income of around $1.5M per year (should I decide to fold the business at that stage).Cheers,
The Y-man
Financially independant or quite close to it with Net Financial Assets of at least $2 million and a mostly tax free passive income (due to franking credits) of at least $100,000 p.a.
More importantly, still with my wonderful wife and maybe with a son/daughter by then If i can convince her to have one.
Jase
More importantly, still with my wonderful wife and maybe with a son/daughter by then
If i can convince her to have one. Jase
10 years time, 31 years old hmmm....
Hopefully living with my partner, happy as can be. Much wiser and more confident when it comes to investing, having been around the block afew times by then. Living with that saying "you only regret what you didn't do, not what you did" in mind. Content that I've given myself every opportunity to be all I can be without crumbling from fear of "what if I fail?!"
I'd like to have travelled around the world for a year backpacker style, fully funded from my investments. And finally be in the position to become a full time investor.
20 years.. geez thats hard.
The idea from the start was to educate myself in investing so that I could retire young and then help others less fortunate find there way. So by this time I'd like to be working with/in a charity that assists the homeless. Or if I dare to dream it, managing my own charity that supplies housing for the homeless.
Hopefully living with my partner, happy as can be. Much wiser and more confident when it comes to investing, having been around the block afew times by then. Living with that saying "you only regret what you didn't do, not what you did" in mind. Content that I've given myself every opportunity to be all I can be without crumbling from fear of "what if I fail?!"
I'd like to have travelled around the world for a year backpacker style, fully funded from my investments. And finally be in the position to become a full time investor.
20 years.. geez thats hard.
The idea from the start was to educate myself in investing so that I could retire young and then help others less fortunate find there way. So by this time I'd like to be working with/in a charity that assists the homeless. Or if I dare to dream it, managing my own charity that supplies housing for the homeless.
My long range forecast tends to be 10 years, so 20 years is a bit too hazy
Ten years time: If everything went smoothly (as it almost inevitably never will - but let's just blue sky here
Cheers,
The Y-man
Thats a good aim
. With the 15-20mil turnover what would you expect the gp to be, or did you mean that that is your gross profit?How far along this path are you?
If you had a powerhouse business like this then a $1.5mil passive income should be easy.
My aim for 10 years would be to have doubled my capital base and to also have grown it by 50%. The doubling should occur through normal market increases the extra 50% I will need to work at.
Cheers
Thats a good aim
Hi Handy,
That's $15-20M profit (after interest and costs) pre-tax.
Pretty sure I am not as far along as you
(you are one of my "I wanna be like him!" benchmarks )To be absolutely honest I'll probably have a good laugh when I read this in 10 years (thinking "Man, where did I pull those figures from?), but who knows?
Cheers,
The Y-man
In 20 years time - I'll be around 50 - Not working - travelling the world for 6 months of the year; & re-investing in more investments like property. Around $10-15million in income-producing properties.
Hopefully still alive!!!
At 64 - if you had asked me 10 or 20 years ago where I would be at 64, I would never have answered, widowed, In Geneva working for the UN!!!
Nor would I have envisaged having sufficient passive income to retire whenever I want, so who knows where I will be at 74 or 84 - who knows I may have climbed another mountain by then.
Chris
At 64 - if you had asked me 10 or 20 years ago where I would be at 64, I would never have answered, widowed, In Geneva working for the UN!!!
Nor would I have envisaged having sufficient passive income to retire whenever I want, so who knows where I will be at 74 or 84 - who knows I may have climbed another mountain by then.
Chris
Still living, loving, laughing and leveraging...would be nice
Healthy, enjoying my family and financially comfortable ie, no more working
10 years: BRW young rich list
20 years: BRW rich 200
hey, you gotta shoot for something.
20 years: BRW rich 200
hey, you gotta shoot for something.
Good luck with that Luce, I look forward to reading about you and your adventures.
For me, I don't think about 10 years in the future, it's too far away, too many variables. The most I think about is 5 years and even then it's pretty hazy. If you had told me five years ago where I'd be now, I would have laughed at you.
Mark
Gee,
I think I've got to lift my game having read The Y-Man's post, and already knowing where HandyAndy is at...
Well, my current conservative projection is as per the attached. This is a conservative projection as it assumes below market growth and income from property and shares. This also assumes my Mona Vale development comes off as planned and that I do nothing more than pull out the growing equity via LOC and margin up at 50% LVR into an income generating managed fund in subsequent years. i.e. No more developments or IP purchases. But this is likely to be a flawed assumption...
That approach sees me opt out of salaried employment in 2012 (Just 5 years time, yay!) though I can probably accelerate that a bit if I want to do some LOE stuff. I bet you can't even spot the dip in net worth growth that opting out of salaried income causes!!
In 10 years time that gives me a net worth of $3.3M ($10.7M in gross assets) and passive income of $180K, both these are discounted at 3% inflation to represent present value (PV) numbers. I agree, 20 years is a bit too far to look ahead, even 10 years blows my mind a bit. Its good to go through the process every now and again though. I just did this mock up yesterday so I could check whether I was still on track to retire by 2015 as is my stated long term goal. 2012 beats that by a few years!
Cheers,
Michael.
PS Oh yeah, Super is not included either as its less than $1M and really doesn't factor into my retirement planning...
I think I've got to lift my game having read The Y-Man's post, and already knowing where HandyAndy is at...
Well, my current conservative projection is as per the attached. This is a conservative projection as it assumes below market growth and income from property and shares. This also assumes my Mona Vale development comes off as planned and that I do nothing more than pull out the growing equity via LOC and margin up at 50% LVR into an income generating managed fund in subsequent years. i.e. No more developments or IP purchases. But this is likely to be a flawed assumption...
That approach sees me opt out of salaried employment in 2012 (Just 5 years time, yay!) though I can probably accelerate that a bit if I want to do some LOE stuff. I bet you can't even spot the dip in net worth growth that opting out of salaried income causes!!
In 10 years time that gives me a net worth of $3.3M ($10.7M in gross assets) and passive income of $180K, both these are discounted at 3% inflation to represent present value (PV) numbers. I agree, 20 years is a bit too far to look ahead, even 10 years blows my mind a bit. Its good to go through the process every now and again though. I just did this mock up yesterday so I could check whether I was still on track to retire by 2015 as is my stated long term goal. 2012 beats that by a few years!
Cheers,
Michael.
PS Oh yeah, Super is not included either as its less than $1M and really doesn't factor into my retirement planning...
