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Making the Move
Topic Started: 8 May 2012, 07:00 PM (2,865 Views)
Future
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Hi guys,

I'm Future and I guess I'm going to be the youngest on this forum. But every young Aussie's got to take control of his life and I'm one of those. My goal is to move into my first rental property as soon as possible. I expect to be able to retire by 40 with the banks and the workers paying my way.

It's so great to be Aussie and young.
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stinkbug
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If you're in your early twenties (oe even younger) then it doesn't matter whether you rent or buy, just that you live within your means and invest regularly. You'll probably reach your objective.
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While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Future
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stinkbug
8 May 2012, 07:23 PM
If you're in your early twenties (oe even younger) then it doesn't matter whether you rent or buy, just that you live within your means and invest regularly. You'll probably reach your objective.
Thanks for the excellent advice! Right now I'm still living with the folks and I save regularly. Until I get that first rental, the investing casino is out of my reach... I guess.

Where would you put your cash if you're not in the rental business? I mean this is all we have in Australia.

Should I buy some Rio on the cheap?
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nipa hut
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Future
8 May 2012, 07:45 PM
Thanks for the excellent advice! Right now I'm still living with the folks and I save regularly. Until I get that first rental, the investing casino is out of my reach... I guess.

Where would you put your cash if you're not in the rental business? I mean this is all we have in Australia.

Should I buy some Rio on the cheap?
Right now, in your position, I'd go to Rio on the cheap, get laid, and learn Portuguese (the easiest of the "BRIC" languages, yet probably the least common in Australia.) I'd also finish my education, if that hasn't already been done.

After that, build up some capital and invest it--perhaps even in Australian real estate, if your mind hasn't been broadened beyong that investment class after the Brazilian experience...

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stinkbug
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Future
8 May 2012, 07:45 PM
Thanks for the excellent advice! Right now I'm still living with the folks and I save regularly. Until I get that first rental, the investing casino is out of my reach... I guess.

Where would you put your cash if you're not in the rental business? I mean this is all we have in Australia.

Should I buy some Rio on the cheap?
Property is just one asset class - there are lots of things to invest in, it's a big wide world.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Future
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stinkbug
8 May 2012, 07:57 PM
Future
8 May 2012, 07:45 PM
Thanks for the excellent advice! Right now I'm still living with the folks and I save regularly. Until I get that first rental, the investing casino is out of my reach... I guess.

Where would you put your cash if you're not in the rental business? I mean this is all we have in Australia.

Should I buy some Rio on the cheap?
Property is just one asset class - there are lots of things to invest in, it's a big wide world.
Hi Stink, thanks for the advice! Property would be the best deal for me, wouldn't it? That's what I'm seeing anyway in the land of milk and honey.

But I'm just a kid so what do I know? That's why I joined the forum. To learn from you old farts!
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stinkbug
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Future
8 May 2012, 08:24 PM
Hi Stink, thanks for the advice! Property would be the best deal for me, wouldn't it? That's what I'm seeing anyway in the land of milk and honey.

But I'm just a kid so what do I know? That's why I joined the forum. To learn from you old farts!
Property has done well for me, but I've also reaped big returns from shares, and even more from education. You need to have a think about what's next - property will be good again but not for a while.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Strindberg
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Best way to get rich in life is to marry into it.

Failing that, next best approach is to focus on what will be a highly paid career. Forget all about investment other than your own career. Most of your cash should be devoted to furthering your career in the early years.

Spend any spare cash on getting kicks and life lessons. If you're like I was you'll also need a bit of cash to pay the fines (and perhaps maintenance payments) as they arise from enjoying yourself.
Edited by Strindberg, 8 May 2012, 08:39 PM.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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themoops
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I'd recommend investing in a favela shack in Brazil. Can't go wrong. They should be worth a million bucks each in 7 years.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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genX
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Future
8 May 2012, 07:00 PM
I'm Future and I guess I'm going to be the youngest on this forum. But every young Aussie's got to take control of his life and I'm one of those. My goal is to move into my first rental property as soon as possible. I expect to be able to retire by 40 with the banks and the workers paying my way.

You sound like a sock puppet I made up once, but I don't mind feeding the trolls .... :tu:

So it looks like Australia has a Future after all.

So is there a Future with a skill, a trade or a qualification?

Is there a Future with a job or other source of income?

Is there a Future in the city?

Is the Future in the country?

Is the Future retiring at 40 with the banks and workers paying for that?

Quote:
 
It's so great to be Aussie and young.

Party on Future!
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