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Making the Move
Topic Started: 8 May 2012, 07:00 PM (2,866 Views)
Sweetdish
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BubbleBoy
9 May 2012, 12:09 AM
Statistically most people will never earn anywhere near 150 - 200K a year (in today's dollars).

If one wants to earn much more than your figure of 150K - 200K, there are ways - medical specialist, partner in big law or accounting firm, etc. Of course only a small percentage of people will reach these heights, but by definition high income earners are an elite group.
Depends on what you do.
If you are motivated almost anyone can reach that figure.

Most people I know that earn low wages just don't have money as the main motivation.
They work in a blue collar job, bar or in retail and are perfectly happy with that.

And yes ,earning much more, (300k+) is difficult on a salary.
But thats the trade off for having someone else take all the risk.


Edited by Sweetdish, 9 May 2012, 11:45 AM.
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Sunder
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BubbleBoy
9 May 2012, 11:39 AM
Sunder,

Welcome back! Haven't seen you in a long time and have missed your common sense balanced posts!

I agree with most of your comments - certainly I agree 100K is not living in luxury. And even 200K is not what I would call a high income earner - especially if one has to raise a family. A couple of private school kids, mortgage on a one million dollar house (which as we know doesn't exactly buy a mansion these days), and after tax there isn't that much left over when grossing 200K.
Thanks Bubbleboy.

At the start of the year, I got a promotion and all the wonderful extra work that comes with, so I pretty well dropped off the radar.

I don't know that I'll be back all that often, but now that the critical "First 90 days" have passed, and I have better processes in place, I am hoping to at least read here more often, if not post.

Property speculation is a type of gambling... But everyone knows that in gambling, the house always wins in the end.
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Elastic
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If I was you Future, I'd ask Frank Castle if he has any daughters for you to meet.
I hear that guy's loaded.
Only a rat can win a rat race.

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Trojan
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Elastic
9 May 2012, 12:04 PM
If I was you Future, I'd ask Frank Castle if he has any daughters for you to meet.
I hear that guy's loaded.
Don't think he is the only one.
From the posts I have read, everyone here has either made a lot of money on property or made a lot of money in other areas and has a huge warchest ready to pounce when property crashes.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Future
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Elastic
9 May 2012, 12:04 PM
If I was you Future, I'd ask Frank Castle if he has any daughters for you to meet.
I hear that guy's loaded.
Cheers. Who is this Frank? How did he make his wealth? Is he a businessman?

Post some pix of his girls, preferably with some skin.
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Sunder
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Trojan
9 May 2012, 12:28 PM
Don't think he is the only one.
From the posts I have read, everyone here has either made a lot of money on property or made a lot of money in other areas and has a huge warchest ready to pounce when property crashes.
The thing is, you wouldn't visit this forum unless you were in the market - now, or in the near future - for a property. So yeah, it wouldn't surprise me if wealthy people were over-represented here, even excluding the boasting.
Property speculation is a type of gambling... But everyone knows that in gambling, the house always wins in the end.
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davel
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BubbleBoy
9 May 2012, 12:09 AM
Sweetdish
8 May 2012, 11:55 PM
A highly paid career?

Thats a very hard way to get rich.
Maybe as a hedge fund manager.

Most careers plateu at about 150 - 200K per year.
Hardly enough to get rich on.
Statistically most people will never earn anywhere near 150 - 200K a year (in today's dollars).

If one wants to earn much more than your figure of 150K - 200K, there are ways - medical specialist, partner in big law or accounting firm, etc. Of course only a small percentage of people will reach these heights, but by definition high income earners are an elite group.
Right, BB, and that shows why Aussie property is toast. Those $1M-4M Boomer houses in the Inner rings.

That constitutes a decent % of the housing stock which is out of the reach of a couple even earning a combined 400k, a very good joint income by any standards. And yet it is currently owned by people many of whom earn significantly less than that. I am surrounded by these houses where I rent.

So either these people stay put and ultimately Melb and Syd become like OAP homes. Or they sell at reduced prices over time.

And yes, Bulls, I know that there are Gen Xers who have some equity and can trade up. But I dont think theres enough of them, not by a long chalk. Lets say you've got $1M equity and joint income of 400k (nice situation), you're still topped out about $2.6M total, unless you're a reckless debt slave (and I'm being very geneorus there, prudence would suggest $2.2M).
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newjez
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Future - come on now. Sure you've invented an unpleasant character, but I'm sure you can go one better than that. Tell us something about yourself that we will really really dislike. Has your father turned turned a sect of nuns into prostitutes just so he can afford his exorbitant rents?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Future
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newjez
9 May 2012, 04:40 PM
Future - come on now. Sure you've invented an unpleasant character, but I'm sure you can go one better than that. Tell us something about yourself that we will really really dislike. Has your father turned turned a sect of nuns into prostitutes just so he can afford his exorbitant rents?
Hey dude. I don't know how you get unpleasant from positive, pro-Aussie, pro-property, big dreaming, family loving, and answer seeking.

You guys got a real cynical side to you sometimes.

The old man's straight up. Made a crust earlier on in engineering and went into property throughout the 90s. Him and the mates may have the odd hooker out on the boat but I know nothing.
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Shooter McGavin
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Well, Real Estate is a hobby of mine
Start with a haircut?

Posted Image
Damn you people. Go back to your shanties
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