Hi all,
Thought I’d post the following to get varied responses and ideas from forum members who seem to have diverse depths of knowledge and experience.
The situation is as follows;
There are two people who are both in their early sixties and semi-retired, the husband does various irregular jobs around town and the wife works two days a week at a local shop.
They have a good sum of money tucked away in the bank on a high rate of interest (similar to on-line rates) and take a wage of the interest earned.
They live in a semi-rural area on 6 acres of land valued at around $800k (owned outright), they also have fruit trees on the land and this brings in an additional $25k per year. The husband has just bought a boat worth about $200k for a trip planned for years as part of retirement.
This is a scenario..any thoughts?
Wasp
**************************************************Its not what you earn but what you do with what you earn
Yep, I’ve got a few thoughts.
1. I’d shake the guys hand and say well done, you’ve ‘made it’.
2. I envy their independent financial position. They probably take the part time jobs more for the social interaction, keep themselves mentally active and keep abreast of the community issues. It sounds like they don’t need the money.
3. I reckon their stress levels would be way way down.
Masters of their own destiny. Fantastic. I wish my grandparents were in a similar position at the same stage.
Nothing to do in my eyes, and no input needed. Perhaps instead, we should be taking some ‘output’ from them. Are they members of this forum ?? These are the type of people I like to sit down and chat with for hours. Very valuable community members.
Well done to them both.
But boy, could our group do a power of good with that equity they have…
I know a couple in a similar situation to this scenario. I envy them.
They spend about 6+ months of the year sailing their 50ft Cat, stopping off where ever they please. They will probably head back to Sydney from the Nth Qld area soon, to avoid the dreaded Monsoons season. Ahh, it must be tough.I’ve volunteered my services to assist/crew, in a trip across the pacific, which they suggested may be on the cards last time I saw them.
They have actually sold their house/ property in the last 12 months, as they figure that it’s just not going to get used by them much in the future. Even sold the car.
Sorry, you were after thoughts.
Umm…
1. Keep doing what they are doing.
2. Take that trip they have been planning for years. If they love the ocean as much as the couple I know, they may just want to do it for the rest of their lives.
3. Don’t make any drastic financial decisions until after that long awaited trip.
4. Get someone to house-sit while they are on their trip.
5. To you, keep people like this in your life, they are a great inspiration.Mal
Getting out of your comfort zone, can help you become comfortable
I was going to say it seems like an asset rich cash poor situation, but with the wage being drawn from the interest account and the part time wages i would say not?
What are their goals?
Great position to be in though
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHave they made a will?
Seems like a silly question to ask, but my parents didn’t until my mother got terminally ill. Some people just don’t worry about it…..
For my details please PM me! [grin]
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonWoah….
Nearly missed it! Big 500!
[party] [xmas]Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonWow,
Excellent position to be in
, did they pay for the boat in cash?I am with Dazzling there, would love to know how they achieved it. Good reading
Sounds like part of my dream, to sail the world, one problem is I get sea sick
Well maybe just have to be like Einstein, and eat fruit in their orchid and observe them.( tell them not to worry I wont eat too much, just using them as a silent mentor )
Sounds like they have reached the pinnicle and good luck to them and best health to enjoy it.
Cheers
What are these people wanting to do?
Access some equity for future investment etc or just content with what is happening and enjoy the fantastic cruise.
, did they pay for the boat in cash?
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