- morts wrote:Got a score of 4,320. I see this as a neat, simple tool designed to get you thinking about how you live and how the choices you make today can impact into the future. Also, don't forget that nasty little thing called CGT!
Cheers
M.
Only if you sell.
I got 3400, score is purely based on annual earnings. I got this score after I replaced my income with spend. If you have a high income and less spend, your score will remain low…
Scored 135…..that is years…not days.
Looks like my unborn grandkids and even their children can now retire.
But what's the point….may as well keep doing what I'm doing.
Wow Dazzling, that's brilliant! What motivates you to continue working as an employee?
Bugger all at the moment. Just purchased – probably – my last property and just bedding that down before trying this LOE for a lark. Our annual expenses, with 3 kids just about to head into private school amounts to far less than 1% of our portfolio, so I reckon we can reasonably expect the portfolio to grow by this every year. Happy days really.
Of course, 3 years ago when Foundation and I joined this forum it wasn't so comfy. I chose the positive and active approach to property. Forget the research and theory……just get out there and do the deals, right ??. He chose the opposite. I suppose both time and method have a way of magnifying the philosophy that you choose.
6690… is that good? I saw the standard was 480 or something like that… I like proeprty and use 60-65% of my money and time working on all sorts of property deals and about 20% running my business and the balance in shares and managed funds … had ball in the last week.
-$150.. Not too bad, I thought I was up a creek without a paddle.. Good News is though, It shows in BIG numbers the DEBTS, scary when you see them. At least my 2008 plan is starting already, so can't wait to try it again this time nxt year
My score was 8339 and can survive until 24 Dec 2030, must be doing something right. Just as well with a detached retina (totally unexpected) and can't work anymore! Glad I started to invest when I did, you never know what's around the corner!
Got a wealth score of 1053, which currently does not have any investment properties in it, just simply business income and value. Starting to invest this year in property as i feel we are in a position to absorb interest rate rise to be able to buy into some bargins and hold till this current rate crisis is over… Hopefully the score will go up even further in the future
Wow! I am sooo disappointed. I have no investment assets pretty much so got a score of 113 days. Which means I can only last until June! Yet I own a $600,000 house? Until now, my husband and I have not been brave enough to invest. But we are sooo ready now, just waiting on the next interest rate rise to see what it does to the market and then we are in… Looking at buying something in Frankston.
Any advice gratefully received.
Thanks Steve for motivating me even more!
Lucky
I think I have the record for the lowest score……………… – 2019.
Yeah, that MINUS 2019.HEEELLLLPPPP!!!!!!!!
My partner was made redundant last year, one wage now with 1 and 1/3 mortgages.i got 416, not bad i guess.
I got -451. I was very disappointed, but that will give me the drive to be more active in property investing!
mate killed it at 6537 but I'm only 40 and want to live past 2026…more work to be done here
-744 in current situation, but if we sold our PPOR and bought two IPs – same debt level, same asset position (just a shift from personal assest to investment), reduced annual income (or living expenses, taking into account us paying less rent than we are currently paying mortgage, and a small +CF on each of our IPs) – we immediately move to +737
Thanks Steve. This is a benchmark that I'll revisit at the end of the year to check our progress.We scored 1129 but need to do much more yet. The foundation is set, we've enrolled for RESULTS, watch this space!
This is misleading. If I have high salary, it does not necessarily reflect my lifestyle. What if I spend all this money paying off my debt and eat only dog food?
I agree gamay – it's rubbish, geared to calculate wealth based on investments. Play with the numbers a bit and have a look. It's more of a debt calculator than a wealth calculator.
Based on your current lifestyle – what a croc, it doesn't collect enough information to work out what your lifestyle is.
Without super it gives me 0 – saying I will survive till tommorrow but what about LSL, redundancy and rec leave? And what about the fact that I have 0 debt means that even on govt benifits i will still be in front?
I put my super in (which is substantial) and it gives me 800 or so and says i will survive 2 years. But it doesn't ask how old I am so how does it know when I can get that super.
simple wrote:-33, hm, we better start investing !
On the other hand, i do not think I will ever retire unless due to sickness ….
12 months and I improved to 275
1508 – wealth score is good to get a feel for your progress should you keep the results. For actual results I have always kept my own 6 months Income Statement and Balance sheet – vital to all in this game and quite satisfying and revealing to occasional sit and reveiw your progress over the years – good and bad.
As LA Aussie suggested, no provision for income, all to technical for me but maybe its possible Steve.
With 80% of our portfolio in Commercial, including income ( our retirement income ) would be of value.
Right now we are battening down the hatches, creating buffers for the next couple of years – the world hasn't touched on credit card debt yet.
Great news is though, see yourselves through this ( likely the most devistating world financial crisis in your life time ) and you
will come out the other end with a wealth of experience and confidence.
Prosperity to all.
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