I know a couple of people who retired with $0 and no home. They went straight into government housing and onto the old age pension. So you can retire on nothing.
A paid off home and a million dollars would be plenty sufficient for me.
About 1.5 mill of the 2 mill sunk into debt free IPs generating maybe $36 K pa after expenses but before tax.
$50 K in 'pocket money' for me.
$450 K in cash - As a bit of a stash for the family in case 'the olds' should ever need a hand buying their way into aged care and/or 'the youngs' should ever get into any trouble with their finances.
With that half mill in cash maybe earning something for me as well, at least until the RBA and their banks in their wisdom decide it won't.
But with me being capable of/happy to live on $36 K pa before tax if it should come to that.
And happy to sell my debt free home to fund my own aged care if necessary.
And leave the debt free IPs and whatever might remain of the cash to my heirs as my bit of a generational contrib to having (hopefully) helped improve the family financial situation going forward generally.
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
About 1.5 mill of the 2 mill sunk into debt free IPs generating maybe $36 K pa after expenses but before tax.
$50 K in 'pocket money' for me.
$450 K in cash - As a bit of a stash for the family in case 'the olds' should ever need a hand buying their way into aged care and/or 'the youngs' should ever get into any trouble with their finances.
With that half mill in cash maybe earning something for me as well, at least until the RBA and their banks in their wisdom decide it won't.
But with me being capable of/happy to live on $36 K pa before tax if it should come to that.
And happy to sell my debt free home to fund my own aged care if necessary.
And leave the debt free IPs and whatever might remain of the cash to my heirs as my bit of a generational contrib to having (hopefully) helped improve the family financial situation going forward generally.
I'd have thought $1.5M would generate more than $36K pa after expenses. Are they growth or yield oriented properties?
I know a couple of people who retired with $0 and no home. They went straight into government housing and onto the old age pension. So you can retire on nothing.
That doesn't sound attractive to me, but best of luck to them.
Any expressed market opinion is my own and is not to be taken as financial advice
I reckon if you own your home, and have $1M invested in income producing growth assets (IPs, shares etc) with no other debt, it's doable. But it really does depend on the lifestyle you desire/require. In my case, I reckon I need $1.5M in addition to a house, to have the income I want, without having to eat into capital.
For Aussie property bears, "denial", is not just a long river in North Africa.....
One would not need to own a home or have a million dollars. It's all about choices.
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
Well that disqualifies you doesn't it. With perth rents taking that $1000 will eventually be going straight to your mortgagee. Idiot!
That whole post makes no sense. Try again. Idiot!
No sense in your delusional world I know, but wait another year or two, it will become as clear as glass.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
No sense in your delusional world I know, but wait another year or two, it will become as clear as glass.
Nothing delusional about my world. But your sentence construction is shithouse and for the life of me I have no idea what you are actually trying to say.
My only hope for my three boys is that they turn out nothing at all like Chris.
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