I reckon you can have it all, if you start young.
I bought my first IP when I was 19 (and living at home – thanks Mum[biggrin]). I had saved for three years while a lot of my mates were blowing their wages. I didn’t go without, but I saved religiously and managed a 30% deposit on an old villa converted to two flats for $30,000 (1981).
Did some renovating and sprucing up and rented for $150.With the flats positive geared, I was free to leave for overseas and have something to come back to when I was ready. I travelled for four years doing all sorts of jobs in lots of different countries, and generally bumming around.
Twenty years down the track, and I have three freehold properties, and a big enough income to be at home with my kids fulltime.
Its not quite retirement, but it was the longterm plan.[specool]
When my last one goes to school later this year I’m not sure if I’ll work or not, but its nice to have the choice.A few years of focus when your are still young and unencumbered can set you up for life.
Fern,
It is great to hear that you have the choice, for me I will have to work to support family as well as investments. I hope one day I will have a choice just like you.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Its been funny reading this thread. I did the life expectancy test and it reckons I’m gonna live until I’m 102!!! 18 years longer than my husband (He’s expected to die around 84).
I’m only 25 and hubby 26 so we have a bit to go yet till we retire. HAve done the travel bit already and are sorting ourselves out financially now so we don’t have to rely on a wage when we have kids…
THat’s my first goal rather than retirement. Mind you, it would be lovely to do what I wanted without a great deal of thought to the cost….
Success is 1% inspiration and 99% perspiration.
Scremin,
So you have to work extra hard compare to your hubby because you have to live 18 years longer than him.
I think a while back I did the tested as well and expect to live to 87 where as my wife will live to close to 100. So now she work much harder than me. So it go the same to you…lol.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]But CHan, if one starts working harder than before, one might die quicker…from stress! hehehe[biggrin]
If you keep living in those polluted places you better drop a few years off those figures
A few more years for stress
And a few more off cause you spend all your spare time on here talking RE instead of getting out there and exercising.
Russ.So many +CF properties in Western Australia.Wish I could help.But the governments canned me.Russ.0438 659 411
Russ,
Isn’t there any stress in rural communities? Seriously, I wonder why the disastrous statistics on youth suicide for country kids exists if it’s so perfect.
Life can be stressful anywhere or peaceful and beautiful anywhere. It all depends on how you feel inside.
Russ, it’s fantastic if you feel no stress. I could only presume that because you keep mentioning the stress of the city. What do you attribute to your stress-free life?
kay henry
<<<<Just wondering who will be retiring in 2 years time>>>>>
Well I am hoping its me. I am selling the worst negative geared property (OK, Steve as the market is cooling ve- is not so good) and going to use the borrowing power to go halfs with my brother and do a townhouse development.
I’m the accountant, he is the carpenter/builder. So hopefully in 2 yrs time I can give up the day job, do a few days work around the building sites and a few days work at the local accountants doing BAS statements.
Originally posted by Fern:I reckon you can have it all, if you start young.
I bought my first IP when I was 19 (and living at home – thanks Mum[biggrin]). I had saved for three years while a lot of my mates were blowing their wages. I didn’t go without, but I saved religiously and managed a 30% deposit on an old villa converted to two flats for $30,000 (1981).
Did some renovating and sprucing up and rented for $150…….Hi Fern,
Great to see you had the foresight. I just came from a non investment non business type family. I am going to work hard now so that not only will I hopefully improve my “retirement” but that I will leave my girls with a much better education on investment strategies so there pattern is more like yours than mine.
But I am still grateful for every clear free living breath I take as a woman and free human being in this great country.
[thumbsupanim][biggrin][thumbsupanim]
God’s Country, I think its a miracle we were even born on this planet!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Kay Henry
I live in a very laid back coastal town.Very few cars.Little pollution.Great people.Great beaches.Good fishing.Very little stress.I chose this life because of former stressful situations.
I like to make people aware that there is an alternative way of life.
When something is so great you want to sing its praises.
Why do you think people have such a great time when they go away on holiday.Because they are in a better environment.
I choose to live in that environment daily.And it is so much better for ones health.
Russ.So many +CF properties in Western Australia.Wish I could help.But the governments canned me.Russ.0438 659 411
Nice to hear people’s plans/dreams for retirement. I agree that you never retire so much as keep busy doing things you like and hopefully earn enough to live on. I’m an older member of the forum – 50 – which is ancient to some people here I know. I just wanted to let you know my experiences
– I’ve had a career in management for 20 years with a fairly large salary. I was really interested and involved in my career until the last couple of years and began to dislike it – I had pressure from new bosses and increasing workload – no time for my 9 yr old daughter. It started to affect my health.
It took me a while to move out of my comfort zone and resign which I did in January. It was scary as I lost my big income. Now have to rely on hubby’s not too big income. However, I’ve never felt better and I’ve managed to get a casual paid job in a completely different field – more meaningful for me – working for a non profit organisation dealing with kids in social service capacity. I haven’t started this yet and am a little anxious doing something for the first time. However as I said, I feel really well now – I could have stayed in my other job for the next 10 years – but I’m sure it would have affected my health so much I would have probably died on the job – don’t think it was worth the money.
Money isn’t everything. Only one life so do what you’re happy doing.Cheers,
Tegan[strum][strum]Tegan,
Thanks for sharing your experiences.
For me I never want to work for someone else. If I have the opportunity I will sit in front of PC trading shares/option and property in my own time whenever I like. I am working toward this now and hopefully I can do that soon.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]I,ve been on a pension for the last few years and I hated being at home everyday.Always looking for something to do.Built a shed put in new gardens did some paving blah blah.Even built a mobile home.Twice now.
Enjoy your time at being constructive because most people find that what they think they want is not what they want at all.
If you are a real go getter in life you wouldnt be able to retire anyway.Its just not in the personality.Originally posted by RussH:I,ve been on a pension for the last few years and I hated being at home everyday.Always looking for something to do.Built a shed put in new gardens did some paving blah blah.Even built a mobile home.Twice now.
Enjoy your time at being constructive because most people find that what they think they want is not what they want at all.
If you are a real go getter in life you wouldnt be able to retire anyway.Its just not in the personality.Spot on Russ[lmao]
Whowants to retire? Thats what they do to old race horses, and look were they end up….in the bloody mincer[ohno]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Russ & Mysta,
For me if I retire say at 45 years of age. Then I would spent most of my time travelling oversea. I love to see different part of the world. I am sure that when you start travel for a while you will get bore then I would return home and do shares/options trading til get bore and travel again.
When I said retire I mean you can do whatever you want, whenever you want and no one stopping you.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]OK, I’m 42 retired, I guess, that is I don’t work for someone any more, I have a house on the east coast, I sail A LOT. I have some property, it generates a nice income but there is no doubt the net value is a far better result than the number of properties owned. If you wish to follow your dreams,, net worth counts, not cashflow. Just ask your bankers.
spongefingersI’ll be retiring at 65- go figure- I enjoy my work. It also has benefits… superannuation, long service leave etc etc. Someone asked me today if I would retire if my income from IP’s equalled my wages… and I said “well, if I have wages PLUS that again from IP’s, then I have double! Not sure I understand everyone wanting to retire so quickly.
Sometimes I think people call themselves retired when they’re actually unemployed or on a pension. Not quite the same.
kay henry
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 – I thought it said TWO YEARS AGO
Retirement is great – do what you want when you want.
Lots of time for kids, travel & self-education.
Only issue is when kids are still young and at school & most friends are working…
I still ‘work’ on things I enjoy however – but cash is not the primary motive
Cheers,
Aceyducey
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