Optionallyretired
Dryer sheet aficionado
- Joined
- Dec 13, 2014
- Messages
- 30
Hi all! Great to be here. I feel I've turned a new page now and looking forward to reading mor on the site
Let me tell you a little about myself. I'm 34, married and nely retired. I terned thr phrase 'optionally semi retired' for a few reasons. 1. It can't hurt to make more money, ever. Provided you want to. 2. I still like my part time job as a Musician and never really want to stop doing that.
All-in-all I have a pretty strong dislike for general work so made retirement my biggest goal for the past 10 years and have finally made it to a point where I actually feel comfortable financially so left my job as a Communications Technician to travel the globe. I write this from my Hotel in Phnom Penh, Cambidia. What a place I can tell you. Enjoying the experience.
I notice the majority here and on other websites use shares as their chosen vehicle, which I aim to get into at some point in the future but for now, as an Australian I'm sticking with property which created our wealth in the first place and continues to grow it. What I did is buy (finance rather) multiple properties one by one, rent them, use tax strategies, wait fir the rising tide which has averaged 7%pa using mostly borrowed funds that allowed me to leverage my small deposit. I basically turned about $30,000 into hundreds of thousands relatively quickly turning the modest 7% gain on the banks money into a more than 100% gain on my small amount every year. I recently sold a few of these to pay down the mortgage and kept the bedt renting ones. Now we're left with $1,250,000 worth of property averaging 7% a year but I use 4-5% as a safety rule. Anything above thst is a bonus. We then refinanced the equity out up to 80% of the valueof the invedtment property giving us hundreds of thousands to use with still thr last 20% in as a buffer and use that as living. I only need $20k a year max so happy enough to use in the meantime but truth be told, I make that playing music on weekends do it eill just sit. Might buy onee more property with a small chunk to up our portfolio val.
So thats it for now. Our porfolio isn't quite as high as I'd like it to be unless you imcludr our home but comfortable enough for now. Once we ourchase one more invedtment I'll be happy to sit with that and maybe one day sell them to stash into shares. I feel we still have many years working capacity if abdolutely need be but the maim driver is living while we're still alive
you nevrr know when you're time's up so live
We refinanced a LOC meaning equity that sits in an iffset account
Let me tell you a little about myself. I'm 34, married and nely retired. I terned thr phrase 'optionally semi retired' for a few reasons. 1. It can't hurt to make more money, ever. Provided you want to. 2. I still like my part time job as a Musician and never really want to stop doing that.
All-in-all I have a pretty strong dislike for general work so made retirement my biggest goal for the past 10 years and have finally made it to a point where I actually feel comfortable financially so left my job as a Communications Technician to travel the globe. I write this from my Hotel in Phnom Penh, Cambidia. What a place I can tell you. Enjoying the experience.
I notice the majority here and on other websites use shares as their chosen vehicle, which I aim to get into at some point in the future but for now, as an Australian I'm sticking with property which created our wealth in the first place and continues to grow it. What I did is buy (finance rather) multiple properties one by one, rent them, use tax strategies, wait fir the rising tide which has averaged 7%pa using mostly borrowed funds that allowed me to leverage my small deposit. I basically turned about $30,000 into hundreds of thousands relatively quickly turning the modest 7% gain on the banks money into a more than 100% gain on my small amount every year. I recently sold a few of these to pay down the mortgage and kept the bedt renting ones. Now we're left with $1,250,000 worth of property averaging 7% a year but I use 4-5% as a safety rule. Anything above thst is a bonus. We then refinanced the equity out up to 80% of the valueof the invedtment property giving us hundreds of thousands to use with still thr last 20% in as a buffer and use that as living. I only need $20k a year max so happy enough to use in the meantime but truth be told, I make that playing music on weekends do it eill just sit. Might buy onee more property with a small chunk to up our portfolio val.
So thats it for now. Our porfolio isn't quite as high as I'd like it to be unless you imcludr our home but comfortable enough for now. Once we ourchase one more invedtment I'll be happy to sit with that and maybe one day sell them to stash into shares. I feel we still have many years working capacity if abdolutely need be but the maim driver is living while we're still alive
you nevrr know when you're time's up so live
We refinanced a LOC meaning equity that sits in an iffset account
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