Hi all,
I have been lurking these forums for a few years now and while I understand alot of the advice and numbers are based on living in the US I am starting to consider retiring early in Aus by age 53-56 and just was interested in some other ideas.
My details below
Age: 49 and single with no kids/dependents.
PPOR: Is fully owned and worth approx $1.2M
2 x IP's worth about $1.4M, owe $350k and rent of $46k a year
Investments/shares worth about $210k
Superannuation $539k
Current job earning approx $120k after tax
Topping up max superannuation contributions at $27.5K per year
I have not worked out my estimated expenses however I am planning on a $110k a year draw down for no reason at all other than that being my after tax income now from my primary job.
Plan was to pay down IP debt to $0 by retirement and then live of rent and drawn down on shares until super draw down kicks in at 60.
I would love to hear from all of you what I should be doing extra, is retiring in 4-5 years possible?
Cheers.
I have been lurking these forums for a few years now and while I understand alot of the advice and numbers are based on living in the US I am starting to consider retiring early in Aus by age 53-56 and just was interested in some other ideas.
My details below
Age: 49 and single with no kids/dependents.
PPOR: Is fully owned and worth approx $1.2M
2 x IP's worth about $1.4M, owe $350k and rent of $46k a year
Investments/shares worth about $210k
Superannuation $539k
Current job earning approx $120k after tax
Topping up max superannuation contributions at $27.5K per year
I have not worked out my estimated expenses however I am planning on a $110k a year draw down for no reason at all other than that being my after tax income now from my primary job.
Plan was to pay down IP debt to $0 by retirement and then live of rent and drawn down on shares until super draw down kicks in at 60.
I would love to hear from all of you what I should be doing extra, is retiring in 4-5 years possible?
Cheers.
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