Forum Replies Created
Hi
I sprout a few times on here about risk profiles
it sounds to me as though your husband really is a conservative invstor. By this i mean newer, might prefer cash to being so risky and in debt…
you are more agressive, but not in terms of being a real agressive investor as property can be both growth and income equity, if you only look to property, this is unblikely.YOu know it may take some time if ever to convince your hubby to think like you do. Maybe you both need to be looking in different or separate directions? have your own portfolios? I dont know your circumstances to really comment and I am not about to LOL
On second thoughts…by the way you can offset capital gains against capital losses, capital losses can carry over. Capital gains are in the relevant taxable year. Though…they can be deferred in some circumstances.
I think you need to really sit down with hubby and allow him to be who he wants to be, even if that means cautious. That doesnt necessarily stop you though…so maybe you can work somethig out
Yes I like two ip’s, but again the advice given said to settle one before another, after all there is no problem with a little patience….?
Elves
” a blind man may see what a sighted man may not”
this is the longest time I have worked for someone. I hate it. But its a setpping stone to other things and it got me where i wanted to go for now.
I’m waiting for the next pay rise..not like as in rich dad poor dad, but it measn i can do so much more with it and when I retire, rather like Kay, I know I will be on a realatively good thing. right now my sick days are paid, I get a few to use, i get to buy extra leave a year, adn I do, and my super is looking better each year.
Now I hate super funds as such because I liek to control it myself, and because I can be using it NOW for better things, but that said and done, I ahve to slow my progress a little anyway and smell the roses.
I have travelled relatively extensively, and would do so again, once some plans are in place…lol
elves” a blind man may see what a sighted man may not”
oh Chan you speedster! lucky for 3 point eh?
Russ- i was talking the other day with a friend, he has two daughters they are mixed family as in cultures. I said daughter 2 is chip off the old block, living high life, spending and enjoying in the hear and now, daughter 1, i saw as the investor adn took after the other. he said no way if I had been tougher I would have so much.
He went on to say that he wanted his family to help pitch in for daughter 2 as she has no hope of owning a home, her and partner on benefits and one child. No work. Daughter one is with boyfriend, both have careers, earn good, saved well, lived at home and rented out until they moved in. Daughter 1 is about 23. She is buying another property, her equity is around 600k now.
one works hard the other has little hope. I said you cannot treat one child so different to the other, he said but she has no chance, I said she used her money to live the good life, and you have a grandchild because of it. Doing the family thing, woudl have to treat both equal or you get jealousy and problems. he didnt see it.
He said it was inteligence. He felt that we are not all equal. I argued we can all access education, we can go educate ourselves, if not in school in life. we have the same opportunities. he disagreed. He said some just dont get it. i said was that the way he saw his two daughters? one got it the other didnt? did he treat them differently (favourite yes)was one smarter?
he just said we dont all have the same chances. I disagreed
After that I spoke with my mother, I asked what made me and my siblings so different? A sister that wouldnt finish school, got a job, got married and divorced and just about bankrupt, now recovering after sisterly intervention. Which I might add I have done all my life!
Brother didnt finish school, he has 7 kids, recently separated, no hope he says, defaults like you wouldnt beleive. Scoffs at even trying. I bang my head! Me, I always loved money and property, parents alwasy self employed, money was always around so we were used to it, not well off, not rich just managed. I just managed to finish high school.
so anyone got theories?
” a blind man may see what a sighted man may not”
ok i got lost in all that.
gee maybe i could direct you to hedging? what about options?
Well let me think, cant help you really cause the paragraph up the top just lost me and its late and i cant think. Now you could use derivatives for oil prices. you can even use currencies to hedge, so if one goes down the other might go up?
sorry im off topic, but no one has a crystal ball and you can track historical data and so on til the cows come home in order to try and figure out what the future might predict, but as with anything in the past, there is no guarantee of success in the future.
interest rates are a measure to control many things, and like in aust the RB kinda controls things so we dont get too ahead of ourselves, too involved for me. we noticed a month or two back people on this forum trying to guess if teh rates will go up or stay as they are…now we werent privy to the machinations of the gov as such and their hidden agendas, we do know however that the boom in the property market had to be halted for many reasons bummer dude! higher rates helped the economy….not me.
cheers
does that help?” a blind man may see what a sighted man may not”
you are usually locked in to lower returns for a good many years. yes the rental is guaranteed for that time and from what I have seen of their inspections and so on, they are very keen!
I personally feel it isnt for me.
They do replace curtains and carpets etc too…( i think they still do)need a pretty nice house for them and that usually has to be near a base, and those are normally expensive as already stated. A big layout for this guarantee of rental for x number of years. stuck.
” a blind man may see what a sighted man may not”
why not get something organised like a line of credit, then buy what you want where you want?
Some lenders will consider taking into account income and equity from one or the other, but from what I have heard, they kinda reduce it.
But I cant really give you absolutes either.
” a blind man may see what a sighted man may not”
Hi Gav
I use them for investing, not for a show of wealth despite those pretty colours and clear see thru blue things LOL or gold? platiunum?
Seriously, I up them and I down them, limits used to be 20k 20k 15 k 5 k so on a few cards, but these are reduced.
I bought another property rather than pay off the cards SORRY everyone! i rather have the income, more a year than my card interest, BUT having said that they are being paid off pretty quickly.
I was really at a point in my life where I wanted to give it all up and not pay off my mortgage each month, clear all debts and live luxury, butthen the old me comes back and kicks the devil off the shoulders. I love investing in many forms not just property
thanks for your help and advice all. Good to get different opinions, gosh we do all think diff dont we?
Elves
” a blind man may see what a sighted man may not”
oh and I dont carry around money, too easy to spend. No withdrawls at efpos, no atms…
keep a log of what you do spend and dont cheat. not a budget, but where your money actually goes, shock ya!
I made my daughter pay half the rent ($110 out of her money) she bought her own food too. The reason I did this was to teach her that life costs, it isnt free, and to budget and to not expect others to keep you.
I cant tell yuo she is now well on track to paying off a home. it took her a while and a bankruptcy to do it, not all is lost.
” a blind man may see what a sighted man may not”
I have several thoughts on the matter, but you might not like some….
1) if you love him and want him fine, keep him
2) support can be in other ways not just money as you say
3) alternatively, you do him no favours by keeping him. parents can do that jsut as well and you can still have him.
4)you cant make someone work or find it, they need to want to or they will blame you for it if they hate it.
5)if he was on his own he would have to find a way to pay his debts, only mugs (NO OFFENCE) fall for that one
6)I was led to beleive 6 months too. re defacto
7)in some ways if he paid rent, he can be a tenant too, or he is a border or lodger…lol lets twist shall we?
save save save all you can no luxuries its hard but it can be done
9)you can always try bad cooking, sorry no funds left..it might persuade him to find work…to eat!What are you doing with your savings? consider the following ways to earn some more
junk sales to onsell to others a few dollars extra can be earnt
deposit into some trust or managed fund? you need time so try and make it work for you, though I hate those personally. only you can decide.
this is a property forum so i better not say where else to invest to get started! lol
doing a joint thing with others is not easy and they tend to disagree, can cause rifts. It spreads the risk and finances, but it also causes other issues.
I suggest until you are sure of where your relationship is heading that you keep saving
Maybe he can go mow lawns good money in that! get up a business and then sell your run!
But most of all dont give up
cheersElves
” a blind man may see what a sighted man may not”
I dont like banks either.
I spend most of my lunch time, infact nearly all of it, standing in a queue for service, what service?
I use internet as much as possible, but sometimes you need the counter service.my dramas this week was trying to open a NZ bank account. The bank here was far far from helpful, one lady did all she could and finally restored my faith in a bank. But not the other staff, who sit and ignore you waiting there.(ANZ)
I banked with many over the years:
In business it was the state bank (before COM took em over). They nearly cost me a business.year later I approached several: ANZ, Westpac, Commwealth NAB to no avail. I was staring a niche business.
1)Commonwealth said I would never make it.
2)Westapc said yes then backed down3)the others no way
I then approached State, yep ok. The got car lease, only to find the last payment not deducted, and the car was about to be repossessed! I hit the roof with the new manager in front of all staff as she had humiliated me in public. (sorry day for her) It was their ERROR.
I cancelled my account. Headed to the bank that said I would never make it. Six years later, and his family regular customers made me laugh!
Now I use Westpac, not for the bank, but for my bank manager. he is brilliant, now westpac have limited my endeavours so I told him they are about to lose me, he said if I need anything give him a call and he will help me. he told me to shop around. I love this bank manager for the individual treatment I get, the loyalty and the service. Yes he calls me back!
But there is no bank for service, I hate paying a fee for something that is disgusting!
” a blind man may see what a sighted man may not”
Yep John
but ya gotta also watch the costs, transfers eg tt are costly this end and can cost t’other end too. eg $60
where a cheque might cost 20 or 30also, TT can take 48 hours
cheque not much longer by air
so much for electronics…? cant they do it quicker?” a blind man may see what a sighted man may not”
we teach cildren
but children teach us
I’m never too old.no matter what they do to you, or what path they go down, you ‘gotta love em’ after all they are part of you.
I wouldnt change a thing, even if I questioned and doubted myself as a parent.
You might think you lost, but the battle is never to give in, or give up hope or love.
If they dont realise, then arent we to teach them that?
” a blind man may see what a sighted man may not”
sorry for some reason the web site i had booked for risk profiles is not available.
I did post to the list somewhere, but try google search too.
sorry cant help [confused2]” a blind man may see what a sighted man may not”
yeah someone did offer a site with some software, but it might have been posted in one of the other forums too.
” a blind man may see what a sighted man may not”
supply and demand factors
you might have great location, it might be great block, you might be emotionally tied to it…check out prices of places sold over last quarter or so, maybe you can go to an agent and kinda talk them into looking at RP data so you get a feel for it or the area.
the price someone will pay depends on how bad you want it, who else may want it, herd mentality, gazumping etc….
what you want for it down the track may not evenutate, the risk factor for you could be the mortgage, and being stuck with something you might or might not sell.
projections are purely that, nothing wrong with it, just be wary, not everyone will see the same thing in the same way as you.
is there a demand in the area? whats happening any highway going thru yardy yar….
elves
” a blind man may see what a sighted man may not”
Hi
I have had problems too.
I deal westpac, westpac manager told me the following:
use and do it over the interent, he said it can be done. (dont hold me to it) so longas you have the bank details.Westpac site do tell you what to do anyway re international money.
Westpac manager told me cheapest is a bank check and send it over
telegraphic transfer is most expensive.ANZ dont like to help out, I found here. But I was given a contact over there and I am still trying to set up my account, it hasnt been easy.
Elves
” a blind man may see what a sighted man may not”
I would also have your goals:
short term
Med term
Long termtell accountant, what you want, what you are thinking, or ask what he can suggest (he in this case can also be she)
Consider doing a risk profile yourself, there are some online. Get an idea of who you are and where you want to be in those timeframes and possibly how.
Then ask accountant how they would suggest it, some wont give this advice, but if you phrase it like, well if I have this, what is the best way….eg line of credit? interest only loan? etc, that they can work with.
Do I need a trust, or a company (many say no to both) but ulltimately down the track the structure you set up now obviously plays a part in where you will be down teh road…according to your situation. everyone is different.
I think you know where you are going and what you are after, goodluck
Elves
” a blind man may see what a sighted man may not”
well I would suggest that even if it went over your head, stop them and ask until it doesnt fly over and ask for examples.
you are paying for advice make sure it is what you want and that you understand it.
Personally, I need an accountant i can sit and talk to, not one that talks at me. One who works with me. My own accountant was on shaky grounds a couple of months back.
I thought my own accoutant had gone stale, he had been to my business and sat and talked to me, his fees were reasonable, however this year I actually slammed my fist down on his table, something he had never seen or heard me do.
He told me something along the lines of he was not my portfolio manager, to whicb I replied I had paid him well for the last x years, and he knew, and was given each year my financials, in accounting books no less for the majority of years. The fact that he had sat on my books for about 10 months and he apparently had not kept an eye on certain things, really angered me.
Needles to say, we exchange words in a firm but polite manner. He said to me if I were a man he’d have punched me, and I said if I were a man I would have hit him back! to which he laughed and it broke the air.
It took a while for him to figure out, this was not a right and wrong, but he was there to do my work for which he got paid. I think he didnt expect my response, but he now knows I’m not there to be dumped on or made the escape goat, he has some responsibility.
So this week he called me at work to answer some email questions I had sent him, asked him some more, told him to be more creative and to get back to me when he figured it out. No problem! He told me he was going on holidays and would get back to me later. I’m happy with that.
it is only when you can get creative and can build a relationship and have enough trust in someone along the way (even when they derail) and that if you do argue, nothing is held as a grudge. We can move on, now that is the kind of realtionship I like.
Having said that, I think my needs and my goals have now surpassed his working habits…..
” a blind man may see what a sighted man may not”
Hey I know we are off topic here, but it started a few posts back, and best place to continue. Sorry
[offtopic]Pisces: would it really be any worse with the lid down? [lmao]
Well Pisces what can I say to the “have you got a brother routine” could be that they want to avoid him? lol (no offense)
Back to topic.
” a blind man may see what a sighted man may not”
suggestion: there are tons of threads realting to NZ properties on here. Try the search engine
goodluck
” a blind man may see what a sighted man may not”
save save save all you can no luxuries its hard but it can be done
