Hello from Australia

[mackpal]

Hi everyone,

I'm writing from southern Australia and am new to this forum. I've been a long time reader of early retirement books and websites. I am slowly convincing my partner that early retirement really is possible!

We have 2 years worth of expenses in savings, and we're always working on bringing down our monthly expenses by generally following the principles in Your Money or Your Life. Friends and family think we're tight, but we see a faint light at the end of the tunnel, while many of them have much longer tunnels!

We could pay off our house, but prefer to keep working away at the small amount remaining on our mortgage, as our job situation is a bit uncertain for now. However, we are well in front with the mortgage, and it has meant that I was able to resign from my job and take the last two years off work to complete my second degree (nearly finished!).

Once I'm back at work, my partner is planning to start winding back to part-time work. We also want to crank up our investments - in terms of dollars and knowledge. So far I have done quite a lot of reading and planning (spreadsheets galore!), but there's been no real action.

I'm not really sure when we will be able to retire. What is the best way to figure this out?

Anyway, I look forward to chatting with many of you on the forums.

Cheers
mackpal

 

[73ss454]

Welcome Mack, best way to figure out where you stand is to run your #'s via Firecalc. You can use the link on the bottom of the forum page. Good Luck Mate!

 

[Free To Canoe]

Welcome to the forum! I commend your hard work.

 

[mackpal]

Thanks for the welcome! I will give firecalc a go - I think I've come across it before, but not the whole site that allows you to enter options.

By the way, what are dryer sheets, and why are they confusing?

Ta
mackpal

 

[MichaelB]

Thanks for the welcome! I will give firecalc a go - I think I've come across it before, but not the whole site that allows you to enter options.

By the way, what are dryer sheets, and why are they confusing?

Ta
mackpal

Hi mackpal, welcome to the forum. Dryer sheets, you ask? See here http://www.early-retirement.org/forums/f47/whats-the-deal-with-the-dryer-sheets-44456.html

 

[obgyn65]

Welcome to the forum.

 

[mackpal]

Hi mackpal, welcome to the forum. Dryer sheets, you ask? See here http://www.early-retirement.org/forums/f47/whats-the-deal-with-the-dryer-sheets-44456.html

Oh! As they say, you learn something new everyday. I did a search on "what are dryer sheets" as I'd never heard of them before and I don't have a dryer. It does sound like cutting them in half is a good idea! Thanks for the pointer to the acronyms thread.

Ta
mackpal

 

[Purron]

Welcome to you!

I've always been fascinated with Australia and hope to hear more about your early retirement plans from your situation there. We learn so much from folks in different parts of the world.

My best advice is to track your expenses then match that to your cash flow from investments, pensions and other income sources. Then there's always the issue of covering health care - not sure how that plays out in your country but it sure is a big deal for most of us here in the USA. Do check out retirement planners like firecalc on this website.

Again, welcome!

 

[Nodak]

Welcome aboard.

 

[NW-Bound]

If you don't use a dryer, hence cannot use the "dryer sheet" money saving tip, we have plenty of other frugal methods to suggest. For example, an Aussie can cut in half the amount of vegemite he spreads on his sandwich.

Down Under - Men At Work (HQ Audio) - YouTube

 

[mackpal]

If you don't use a dryer, hence cannot use the "dryer sheet" money saving tip, we have plenty of other frugal methods to suggest. For example, an Aussie can cut in half the amount of vegemite he spreads on his sandwich.

Down Under - Men At Work (HQ Audio) - YouTube

Ha! Very good! It won't work in this vegemite-loving household, but I'll take your advice and keep looking on the forums for other ideas. Love Land from Down Under

Ta
mackpal

 

[Throwdownmyaceinthehole]

Hey Mackpal, I'm an expat living south of Perth. You aussies have the right mindset of living life. With Super and gov't healthcare, you have a little more cushion than in the US, but I know the pensioners are having a hard time keeping up with the cost of living. I'm loving it over here - the new Visa reforms makes it harder for us over 55's to stay and I'm not sure I can handle a few more years of Masterchef...

 

[mackpal]

Welcome to you!

My best advice is to track your expenses then match that to your cash flow from investments, pensions and other income sources. Then there's always the issue of covering health care - not sure how that plays out in your country but it sure is a big deal for most of us here in the USA.

Thanks for the advice Purron. We've been tracking using the wall chart method in YMOYL and depending on my frame of mind, sometimes it movitates me, sometimes it makes retirement seem so far away! Healthcare isn't as expensive here I gather, but it is still a significant cost, especially as you get older.

Cheers
mackpal

 

[mackpal]

Hey Mackpal, I'm an expat living south of Perth. You aussies have the right mindset of living life. With Super and gov't healthcare, you have a little more cushion than in the US, but I know the pensioners are having a hard time keeping up with the cost of living. I'm loving it over here - the new Visa reforms makes it harder for us over 55's to stay and I'm not sure I can handle a few more years of Masterchef...

Wow, you must be in one of the best places in the country! You are right, day to day expenses have been on the rise over the last few years, especially groceries. I'm glad you're enjoying it here (despite Masterchef saturation!).