Re: “If you wish to follow your dreams, net worth counts, not cashflow. Just ask your bankers.”
I disagree. I have met many people who are following their dreams in my life, but I can’t ever remember one of them being a BANKER. I wouldn’t say that generically bankers are authorities on the following of dreams.
High net worth is only as good as the cashflow it generates.
Let’s say you own a 4 million dollar property in Vaucluse, which you inherited. You have a high net worth. Cool. You move in there. Great. nice. But you still have to work, or get CASHFLOW somehow just to pay the rates, the electricity, and maintenance.Can you ever buy any more property or follow any dreams? No.! even though you are high net worth you need CASHFLOW for that.
OK you have a person with 1 million worth of property returning 150 income p/a/. 15 percent returns. Less net worth than 4 million person, but can get some quite good dreams happening for 150K a year.
Meanwhile the bankers have changed their tune and are now arguing with the high net worth people about their overdue American Express bill….
they are suggesting a reverse mortgage….So yeah net worth alone is nice and you could do a lot with it, but unless it generates CASHFLOW it’s…pointless i would have thought?
I’m self employed and really enjoy the work, but just sometimes I’d like to tell a Client to get £$%^ and take on only the intersting or challenging work.
I agree with you guys, money ain’t everything, as I discovered when I spent 8 months as a Real Estate Agent doing property management [there – my confession is out – wrong place for it – I’m not proud of it – forgive me folks] however, I digress = biggest mistake of my life but greatest lessons learned about what is important (like sanity).
Another aside = being a letting agent is the pits. You get grief from the tenants and the owners ALL the time – especially when you are a bad one like I was.
Retirement means different things to different folks. My old man is 84, retired at 65, but has worked as a hobby ever since, when he felt like it, went fishing if the conditions were right, had another beer if they were not – I’m hoping I can beat him to it, this forum is part of the springboard – not so?
Hi Guys,
something that im learning quite fast and i remember one time, when Westan, was sharing and talking about it, was the date of either your retirement or throwing your job in…. the days leading up are the slowest and longest days for you… right now, the working hours seem to drag forever and the clock seems to go ever so slow and that, you get bored and frusturated at work and it just really edges you, wishing that work would be over…
… before the time, would go smoothly, now it seems to be taking forever…
Cheers,
sisS#######T!!!! I’m going to die at 72!!! That can’t be right. The test is a lie. Its not fair …. then again if I can retire in ten years I have plenty of time … well its better to look at the bright side.
james
sis, in layman’s terms, that’s called “burnout”. It *can* happen frequently in one’s work life, and if it ever happens, perhaps it’s time for a new job. Not every job we have can capture out need for creativity, or meaning, or good wages, or social engagement, or whatever it is we might need from work.
Time for a new job, sis!! [cap] I see work as a stepping stone. It’s all a buildup until we feel like we are doing the work (and living the life) that suits us.
kay henry
SIS, imagine how bored you would be without your job…not knowing what to do with all of your pins! [party]
Not me.
Will have a deposit on a property by then if prices slow down some
Torachan
Air goes in and out. Blood goes round and round. Any variation is a bad thing
Hi Guys and thanks,
ive decided that 20th of June will be the definite last day, for sure if not earlier… with work…
a few people on here, ive shared with them, my ideas for the future and one of those ideas are to create jobs for other people, at the moment, im in the slow progress of setting that up, but hopefully sometime or by end of year that will be undertaken and on its way…
… for the moment, im bearing with work, but for my near future ideas, ive established what exactly, what i want to do and what out come i would like to see happen, but then again its a slow process….
… though the counting of the days, seems to be going ever so slow…
Cheers,
sis
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