Forum Replies Created
Mobile-mortgage
Sorry fixed intrest and intrest only loans on the IP’s.pay less each month and the saving goes into paying off the PPOR, No tax benifits with the PPOR loan so trying to reduce it as quick as possible.
The PPOR we Fixed 100k (thinking intrest rates were at a nice level and probally wouldn’t drop but rather rise[
] and they have, admittedly only 0.25% so far)
The remainder of the PPOR loan was left variable giving us some leeway to reduce it quickly.Why ??
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Bronny..
fixed our intrest rates on 2 ip’s and 100k fixed on PPOR and 58 variable on LOC, 3 properties through 1 bank reduced fees and good deal, CCard automatically deducted from account at appropriate time so no fees, use the ‘points’ to redeem Myers vouchers, so “X-Mas Shopping” for free [
]We’re happy !
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Bill and Mini- a “wealth” of information as usual!
Bill tried your link- was misspelled its http://www.allhomes.com.au , nothing for free in WA like that, you have to pay to get sales history.
No story to add “sorry”
Mini- i’m enjoying the 1 min millionaire, gave up reading both stories at once-too hard, reading the parable now and enjoying the read- thanks
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
And Australia beat England 3 outa 3 in the League game today ![}
]REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Enjoying the Postings, so here’s my responses:
1/ “What was your prime motivating event that created a focus on the need to invest”
This took some thought and reflection, the initial motivating force was meeting the mother of my son who earned half what I did and had saved twice as much, she initially instilled the desire in me, stories of my parents attempting to survive on a loaf of bread and what the sea had to offer for a week, due to no money etc, and the fact that the best investment they ever made, was in property, also helped fuel the desire. Having a family of my own and recently getting married would be recent fuel to the fire. We all want to do the best we can for our kids- in many ways. I don’t earn a large amount but do well with what I do earn.
2/ “What have you done about it since then and rate your achievement”
I’ve bought shares to fund property and done well for myself (the first time put 10% of savings away each pay and at 1k each time bought shares, sold these-at a profit to buy a property which I sold 3 months later to make 15k profit). Now with my wife own 2 IP’s and a PPOR. Only give myself a 4/10 for effort- I know I could’ve done better. For achievement however I give myself 7/10 as I know many people worse off.
3/ “based on your current performance how long will it take you to reach financial independence”
Now the marriage is out of the way, goals can be reset and we can apply ourselves again. Financial independence to me means “financial freedom”. I’d like to say 10 years as a goal- and then try and beat it !!
4/ “what are you currently doing to improve your plans”
“Just doing it”… by that I mean walking the walk, reading what I can, investing and reducing current loans, trying to improve my skills, looking at changing careers and earning capacity.
“MINIMOGUL- I JUST PICKED UP THE 1 MINUTE MILLIONARE -BIG BOOK!!”
I’ll start reading it soon![]5/ “ what is your ultimate goal, and will it make you happy”
Being able to enjoy the company of family and good friends without time or work constraints/ commitments, me and mine being in good health and spirit and achieving financial freedom, so Yes.
6/ “which is more important the goal or the journey”
The journey-it makes the goal worthwhile, it’s a learning curve, the goal once reached is celebrated, appreciated and then re-evaluated and reset.
Thanks this gave me a bit to think about!REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
peterp,
thanks for the valid points- possibly why property in Japan is expensive.
Still not happy about losing Some of my money in Super though. What is the Superannuation guarantee levy “really” whats guaranteed about it??
apart from the companies making $$
[
][]“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Thanks myydral and Muppet
Had a look at powowevents site and had a quick look at some of the information contained in the articles section ( saved most of it to browse later.)
The tickets seem reasonable but i will do as muppet says and try to acquire the book.
I also have learnt a lot from this site and hope to learn much-much more here alone
Thanks for the input!!
Redwing[
]“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
How the government can get people to save!
I was once told a long while back (who knows how true it is) that in Japan your first $10 000 in a savings account attracted “no” government fees to “encourage saving”, good for the economy too. and that once your “Superannuation” hit a certain level you could borrow against it for a property .
A Government Thinking like that would be nice [
]Australians are paying more out of there ‘take home’ pay on a mortgage than ever before- talk to your Great granpa, we’re a Double Income family nation with the middle class supporting all.
talking of “Superannuation”- whats so Super about it it ? mine’s going backwards, i could get a better return putting it in the bank!! and i don’t even get the satisfaction of spending my “lost” money..
My 2c anyway scampush
Redwing
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
] and they have, admittedly only 0.25% so far)
]
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