Forum Replies Created
I would be worrying more about funding your retirement than funding the kids university fees. There is always HECS. Although you get a discount for upfront payment, it is very easy to pay off the debt later through the tax system. It’s what I am doing right now!Instead of paying my uni fees upfront I saved my money and bought a property instead. Now I pay my HECs through the tax system each week, but my house has gone up in value since I bought it by $50k (less than 12 months ago), plus I am getting the tenant to help pay the mortgage.
If I had worked to pay my uni fees and then bought property, I’m pretty sure i still wouldn’t own a house and it would be even harder for me to enter the Melbourne property market.
your kids will only learn to save if you teach them how. They should get part time jobs after school definately. It helps them to become mroe independent.
Thanks Nats, what you say makes perfect sense, and particularly buying your IP instead of paying UNI upfront. OK, will concentrate on funding my retirement and let Uni fees take care of themselves.Thanks for enlightening me [
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Remy have you tried to get your husband along to a property investing seminar, eg Steve’s – they can be very inspirational, if only for the other people that you bump into and share stories with – building knowledge AND a network at the same time.[
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Mel
No I haven’t tried to get him to a seminar, I don’t think he’d appreciate spending that much money, buuuuuuut I am going to convince him to read the 0 – 130 book I think it would help greatly if he had more knowledge about +ve IPs with cashflow,…we have only ever had -ve IPs and he has always been a believer that -ve was the only way to go. I need to change his way of thinking.
Remy
we are both the same age my Idea is to have a portable home or house sit my way places “there’s that but again”
aaron
Aaron, I know of a retired couple (friends of my mother) who have been doing the house sitting thing for a few years now. Not sure how they manage not to be sitting on the side of the road between contracts, but I do know they are having a blast. They absolutely love it and don’t plan to settle anytime soon. They have some regular clients now who fit around them for their holidays [] way to go.
Hi remy
I think I’m in the same boat the difference is we are both semi retired already (pension)anyway I see wear your coming from I wounder how many others are in this boat and what thay do
aaronHi Aaron, thanks for replying [
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I see my partners point of view. He has reached an age where he wants to stop saving and start reaping the rewards of past investments(we had two -ve IPs for many years)and start ‘living’. He’d be happy to sell our home and live in a shack and spend the rest on cars and lifestyle.I’m happy for him to retire if that’s what he wants, but I think it’s naive of him to think that he can do that without some other contingency plan in place.
We have had our fair share of horror tenants(and resulting repair bills over and above the bonds) in the past(understatement), “filthy irresponsible animals without consciences” would be closer to the truth. So another reason hubby is not keen to tread that path again.
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