A new chapter....

Discussion in 'Introductions' started by Benita Murray, 17th Sep, 2018.

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  1. Eric Wu

    Eric Wu Well-Known Member Business Member

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    also as @Leo2413 said above, your incomes will determine how much you could borrow, ie. how big the portfolio can be.

    I will also add, get in touch with a good broker on the forum to assess your current financial situation, try to release as much equity as possible ( park it in the offset account) while the market is still reasonably strong, to prepare for the future purchase. get the finance line up while you do the research and learning.
     
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  2. Benita Murray

    Benita Murray Member

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    Thats interesting, we haven't had the opportunity until now to really do something. We have had some tough money times to deal with and now its finally turning for us and we have equity and good amount in Super. No real cash but prepared to make a start somehow.
     
  3. Benita Murray

    Benita Murray Member

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    Thanks Eric that sounds like a good plan and will get that book. I'm wanting to start something in 2020. Next 12 months is learning, research and yes a good idea for advice from a broker.
     
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  4. Trainee

    Trainee Well-Known Member

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    Do you really want to waste another year? How many years do you have? Most of us invest and learn after going to our day jobs. You dont understand how little time you have.

    You will need shares as well as property. Your plan should include putting a little money into shares in the next few months to learn how it works.

    Fact is too many people suffer analysis paralysis and you cant afford that.
     
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  5. Benita Murray

    Benita Murray Member

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    Yes i do understand how much time we have left . Maybe we could start earlier BUT we need to know what we are doing first. I think we have @20 years.
     
  6. Trainee

    Trainee Well-Known Member

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    ask yourself why you didnt invest 20, 30 years ago and how are you different now?
     
  7. Benita Murray

    Benita Murray Member

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    The past is the past and our lives were different then, that's irrelevant now.
     
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  8. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Welcome to the forum.
    I think investing in your 50s is very different to investing in your 20/30s but on the plus side your kid(s) are almost full grown and you can work hard without having to worry about the things that people in their 30/40s worry about - maternity leave, sick kids, school fees, day care fees, kids extra curricular activities, trading up in houses etc
    You've kind of come in with a clean slate and with the added bonus of some life experiences. My advice to you would be to make sensible risk based decisions. What is right for a 20yo won't be right for you and your partner.
    My 2 cents of advice is to not chase super high yield regional cheapies. They are a lot of work, a lot of risk and often a lot of pain. Stick to properties that are a bit more vanilla but don't weigh you down with negative gearing either.
     
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  9. Benita Murray

    Benita Murray Member

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    This is great honest advice...thank you.
     
  10. PandS

    PandS Well-Known Member

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    at 50, capital preservation is important, move carefully, one bad move and you have no time to recovered.

    Despite what you read people make money in properties, shares market or whatever... it not that easy or simple just buy properties and it will go up and you retire.

    Required some work, planning and know what you are doing else you will lose money and yes in properties, most people don't tell you when they lose, you only see their winnings.

    There are plenty of bankrupt properties investors as well as many successful investors and the differences is knowledge, risk management and be prepared for the unknowns
     
  11. dabbler

    dabbler Well-Known Member

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    Plenty of people have bad luck or have needed to start again,

    So is never too late to get going.....
     
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  12. dabbler

    dabbler Well-Known Member

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    People develop and keep many habits, only you will know why now is good and past was not....
     
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