How Long Will it take to RETIRE on SHARES

Discussion in 'Financial Independence, Retire Early (FIRE)' started by MTR, 5th May, 2017.

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  1. Nodrog

    Nodrog Well-Known Member

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    Supposeably, indirectly, but it comes with some risk as it requires other member(s) in the fund who have reached preservation age. Recent changes have made this more difficult due to lifetime NCC limit etc.

    See a professional SMSF advisor as any such strategies need careful planning and excellent advice perhaps involving legal advice.
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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    Yes several.
    Die
    Terminal illness
    are just 2
     
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  3. hobo

    hobo Well-Known Member

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    I have to say, these "strategies" don't really appeal....

    :p
     
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  4. Nodrog

    Nodrog Well-Known Member

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    I retract my earlier comment. Perhaps avoid seeking legal advice if that is the recommended strategy:D.
     
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  5. Lacrim

    Lacrim Well-Known Member

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    You get what you pay for :p
     
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  6. Gockie

    Gockie Unicycle anywhere and everywhere... Premium Member

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    I watched some TV show today and a woman was able to access her Super to get surgery for weight loss. Apparently some "mental disorder" diagnosis had to be made before she could get her hands on the money. So there is that option, too...
     
  7. Mac Fields

    Mac Fields Well-Known Member

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    I'm wondering if these people know that the govt pension doesn't buy you a lot now and by the time they get to pension age, it could buy less..... In looking at my finances, I balance between making money now and building towards a healthy super balance for tomorrow.
     
  8. Nodrog

    Nodrog Well-Known Member

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    Might be a great excuse to be overweight now:). @Gockie rather than trying to lose those few holiday kilios it might be worth doing a lot more holidaying to get early acces to Super:D. Pity I'm not younger as I could have used it as an excuse to drink a lot more homebrew:cool:.
     
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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  10. Zenith Chaos

    Zenith Chaos Well-Known Member

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    I could start my own self-help course - "drinking to access your super earlier".

    Chapter 1: Beer is your friend
    The high carb content of beer along with the warm and fuzzy feeling it gives you will pay you high dividends and triple your investment In this product.

    Chapter 2: Spirits won't get you super
    How the minimal carb content and high alcohol content make this an investment to avoid with high risk (of alcoholism).

    Chapter 3: Breakfast beers
    Chapter 4: High carb low alcohol beers
    Chapter 5: Presenting the case (of beer) to the government

    I have a book and a seminar.

    Not advice.
     
  11. Nodrog

    Nodrog Well-Known Member

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    Home brew will not only make you happy but "Super" rich:cool:.
     
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  12. Redwing

    Redwing Well-Known Member

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    Be born before 30th June 1964
     
  13. Nodrog

    Nodrog Well-Known Member

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    1960, just scraped in at 55 for Super access over two years ago.
     
  14. Gockie

    Gockie Unicycle anywhere and everywhere... Premium Member

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  15. Redwing

    Redwing Well-Known Member

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    From Superguide

    You can retire when you have reached your preservation age AND you retire. Preservation age now ranges from age 56 to 60 years, depending on date of birth

    upload_2017-7-31_7-11-18.png
     
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  16. Piston_Broke

    Piston_Broke Well-Known Member

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    You forgot the last line:
    5 IPs over 10-15 yrs should provide the 50-60K income, and you still keep them.

    If you do the calcs based on the previous 10-15yrs for Sydney suburbs you will find plenty margin for error.
     
  17. Redwing

    Redwing Well-Known Member

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    @standtall

    This type of video from Tony in 2010 puts me off

    AN IMPORTANT NOTE OF CAUTION

    Tony recorded a quick message for you Tuesday (August 3rd, 2010), that he feels is very important for you to watch right now. It’s an important note of caution on today’s economy and 7 things to consider as you watch the stock ticker go up and down. Please view and share this timely update with anyone you care about. How have you taken advantage of the economic season?
     
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  18. SatayKing

    SatayKing Well-Known Member

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    As soon as I saw the name, I stopped and didn't go further. One of my favourite not-to-read experts along with M. Paddlepops, Roger M and Harry D. All rap artists.
     
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  19. MTR

    MTR Material Girl Premium Member

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    Bump

    Very curious... OK, Oz property on the nose at the moment.

    Would like to hear from share investors, similar scenario as property or are you still growing, increasing capital??

    Thinking may be an idea to diversify into shares, but I want safe, concerned about eroding my capital. Nothing is bullet proof.... but....but...

    MTR)
     
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  20. sharon

    sharon Well-Known Member

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    For me to retire on shares I am aiming for $1.5m worth of shares.
    I currently have $20k worth of shares - and not enough time to reach my goal.
    Such is the problem with starting late I guess. :)

    Edit to add: I mean debt free.