Tell us again how you earn $1000 a day contracting to a bank. It makes you come across as a top bloke.
Unlike this dislikeable person who's paid off his $370K mortgage. What a fucking braggart.
Oh you've dropped in for a little troll, how fabulous!
Paying off a mortgage is not something to brag about.
Building bridges, hospitals, financial settlement systems, curing cancer, reducing carbon emissions, that's something to brag about.
I mention my rate not to brag, but to make a point. Have a think about what that is.
stinkbug
28 Oct 2014, 11:40 AM
It's certainly not the upper end of the IT contracting market, that's for sure.
I never said it was. There are managers on double my rate. I'm pretty sure you're one of those types because you seem organised and purposeful in you thoughts. Good for you. Personally I'm happier as a well paid foot soldier for the time being. Less power point and excels make me a happy chappy.
Anyway back to the point of me mentioning my rate - you're either dodging the issue deliberately or completely missing my point: by national and global standards it's a lot of money and far too much for what I do. does that not concern you from a macro perspective?
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
A caveman who is afraid to venture away from the safety of the cave is guaranteed to starve to death.
I take plenty of risks as a contractor. What technologies to learn in my own time that i think will be in demand and allow me to command a better rate in the future.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
Anyway back to the point of me mentioning my rate - you're either dodging the issue deliberately or completely missing my point: by national and global standards it's a lot of money and far too much for what I do. does that not concern you from a macro perspective?.
Its not a high rate by any national or global standards, you obviously feel that you are overpaid and undeserving of it though.
I take plenty of risks as a contractor. What technologies to learn in my own time that i think will be in demand and allow me to command a better rate in the future.
If risk-taking was measured on a scale of 1 to 10, that's probably about a 3. If you're not enticed by real estate, have you considered equities? Where will you get your capital appreciation from, John?
There are times when it is best not to pay down the debt on your PPR and simply have the debt offset with an offset saving account. Its sometimes good to get your loans when you don't need them ie that mortgage you now don't need anymore could come in handy, or you may run into problems down the track if you need finance but cant get it. So think twice before paying down a loan.
Many that pay down their PPR, often find that in the future if they want to convert it to an IP they are stuck in that if they want to take advantage of investment debt options you cannot simply raise the borrowings just to convert it to an IP. The other reason not to pay it down is that you have your cash available to you for other things and that cash value is worth more to you in today's money than it is in tomorrows money, especially if you run into unexpected cash flow problems.
For investment properties it can be shown that never ever paying down your debt is in fact a stronger wealth building strategy than paying them down.
I have my house I'm paying off and one investment property, in simple terms I pay interest only on my investment because the money I save on that I can pay off my house I'm living in quicker. You want to pay that one off quicker because you can't claim it on tax
Mustapha Mond
28 Oct 2014, 10:03 AM
Well done Gunner, slow and steady.
All i will ask is why do you want to spend the extra cash on consumption??
Why not keep saving the money and make an investment that generates cash.
I keep telling people that houses are not investments.
They are liabilities.
Anyway well done.
Peter
Because I want to live the last half of my life seeing the world and having a good time with my kids, not stressing about investments and dick measuring with friends and people on this website.
John Frum
28 Oct 2014, 12:07 PM
I take plenty of risks as a contractor. What technologies to learn in my own time that i think will be in demand and allow me to command a better rate in the future.
Hey this is off topic, if you want to talk to people about your shit job go start a new thread
Hey this is off topic, if you want to talk to people about your shit job go start a new thread
That reply is perhaps a little uncalled for, but certainly, yes, he's not earning anything like I do, not remotely close, and basically I'm required to take, I suppose you could say, virtually no risk at all in my occupation. Then you come to the issue of modesty and humility and I suppose we could all boast about our personal financials all day long, but would you have such a person around to your house for dinner, if they were to drone on about what they earn, even allowing for the obvious differences between an internet chat forum and a dinner party? I've heard it said that what a man lacks in the ability to act, he tries to compensate for through words, and perhaps his inability to bite the bullet, to man up, and buy a property leaves him at a disadvantage where he feels insecure, somewhat, particularly when faced with the reactions of his wife, probably, so he talks up his job to make himself feel secure again.
I have my house I'm paying off and one investment property, in simple terms I pay interest only on my investment because the money I save on that I can pay off my house I'm living in quicker. You want to pay that one off quicker because you can't claim it on tax
Yep, maximise good debt minimise bad debt and all that. Just saying that you never know what is down the line and therefore keeping existing loans maxed out, with an offset on your PPR can give you more options later on, especially if your plans change.
Say for example you got offered a dream job in another city and you wanted to convert your PPR into an IP, it would pay to have kept the maximum borrowings on it.
Maybe you could spend some time and money educating yourself, so you don't come across as such a boorish unlikable fool?
Classic example of bad behaviour emerging from a bad place. You come across as a judgemental arrogant snob.
Gunner comes across as a hard working caring dependable family man. I hope my daughters are lucky enough to find a gem like him.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy