How much do you need / want, before you retire?

Discussion in 'Financial Independence, Retire Early (FIRE)' started by Rugrat, 19th May, 2022.

Join Australia's most dynamic and respected property investment community
Tags:
  1. mistercoffee

    mistercoffee Well-Known Member

    Joined:
    17th Oct, 2019
    Posts:
    232
    Location:
    Melbourne
    I pulled the pin before I was 40. I had paid off my ppor and was able to live off rental properties and dividends from a few shares. My retirement income was a bit less than the average full time wage. I was single at the time of retirement, but met the love of my life a couple of years later (she didn't approve of early retirement, but that's a long story).

    Over the years, I sold off the properties and reinvested the proceeds mainly in LICs. I was also able to reinvest surplus income. I am now in my mid 50s and my investment income is more than 5 times what I need (no drawing down capital). My partner who is a bit younger still loves her job and is still working, but fears that she may have to quit due to chronic illness. So my surplus income will probably come in handy.

    I stopped investing a couple of years ago and have been giving money to charities and generally living the good life. Unfortunately, I will probably receive a significant inheritance in a few years and have no idea what I would do with it (can I refuse it?). I feel very fortunate and grateful to be in this position.
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,667
    Location:
    Australia wide
    Yes you certainly can - but it may work out better if you receive it and gift it. seek legal advice before rejecting the gift as it will pass to others in accordance with the will or intestacy laws/
     
    mistercoffee likes this.
  3. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    6,175
    Location:
    Australia
    Hopefully you're not a bloke haha
     
    Big A likes this.
  4. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,222
    Location:
    Sydney? Gold Coast?
    How can you not know what a metre maid is? BTW, the outfits were skimpier than that.
     
    Big A likes this.
  5. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,222
    Location:
    Sydney? Gold Coast?
    In this day & age you can't ask that.
     
    codeninja and Big A like this.
  6. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    You seem to know too much about em.....

    Anything you'd like to tell us....:p
     
    Big A and skater like this.
  7. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    On second thoughts...bring em back to Sydney!:cool:

    Screenshot_20220526-063639_Chrome.jpg
     
    datto, Big A and skater like this.
  8. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,222
    Location:
    Sydney? Gold Coast?
    Hehe, that's the image I remember. And no, nothing to tell, they always seemed to have very long legs, I'd have been too short.
     
    Sackie likes this.
  9. Burramys

    Burramys Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    1,919
    Location:
    Melbourne
    Pedants of the world unite! A metre is a metric length. A meter is device that measures something. A meter maid is a human female that puts coins (you may have to look this up) into a marking meter. A metre maid is a female dwarf. Skater may be able to apply for a job as a metre maid. I love these property discussions, including DYOR about meter maids.
     
  10. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    From google:

    Gender is a concept that can be broken down into three categories: gender identity, gender expression, and physical sex. Gender is not fixed and can change over time.

    • Gender identity is how a person sees themselves. It is their own internal sense and personal experience of gender.
    • Gender expression includes all the ways a person communicates their gender based on societal factors such as gender norms and perceptions.


    I am a Gender Non Conforming Capitalist.
     
    Last edited: 26th May, 2022
  11. Big A

    Big A Well-Known Member

    Joined:
    18th Nov, 2018
    Posts:
    2,390
    Location:
    ?

    You can’t ask that. How dare you. I’m outraged by such a question. Can’t you tell by my avatar picture that I’m obviously a female. :D

    Crazy what the world has come to. We are so sensitive and easily offended these days yet more disrespectful and crude than ever as a society. Go figure.

    P.s just in case anyone didn’t pick up on the sarcasm, yes I am a bloke. :p
     
  12. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    You identify as a male today...what about tomorrow....:p
     
    Big A likes this.
  13. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,222
    Location:
    Sydney? Gold Coast?
    That would be gender fluid.
     
    Sackie and Big A like this.
  14. Big A

    Big A Well-Known Member

    Joined:
    18th Nov, 2018
    Posts:
    2,390
    Location:
    ?
    Tomorrow I want to identify as a giraffe. Is that allowed? :D

    We better get back on topic before you get us all in trouble.
     
    Morgs, Sackie and skater like this.
  15. spoon

    spoon Well-Known Member

    Joined:
    17th Nov, 2016
    Posts:
    1,762
    Location:
    Time-dependent
    A big one too? :D
     
  16. Big A

    Big A Well-Known Member

    Joined:
    18th Nov, 2018
    Posts:
    2,390
    Location:
    ?
    Not as big as I would like to be. I try my best by getting into the gym 6 days a week and follow a fairly stringent eating plan. Until the weekend comes around, then I get to eat something other than chicken and rice. As I get older I’m having to scale it back as the body can’t handle the punishment of heavy weights day in and day out.

    I can get the pecks dancing , that might be helpful with my application to become a meter maid. :D
     
    spoon likes this.
  17. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,604
    Location:
    Sydney
    Meter maids wear too much clothing for my liking...;):p
     
    Big A, aving1001 and datto like this.
  18. Big A

    Big A Well-Known Member

    Joined:
    18th Nov, 2018
    Posts:
    2,390
    Location:
    ?
    Stop it. Are you saying you would like me to wear something skimpier than a two piece? I’m not that sort of Meter maid. :D

    Maybe I can pull out the mankini for you.
     
  19. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,386
    Location:
    Sydney
    How did the subject of metre maid get into this discussion. And no, I have not seen a metre maid in GC before. What are their business hours?
     
    Big A likes this.
  20. Big A

    Big A Well-Known Member

    Joined:
    18th Nov, 2018
    Posts:
    2,390
    Location:
    ?
    There is a correlation between the thread topic and meter maids. I am officially retired and mentioned I’ll be moving to the GC in a months time. I expressed that personally I would like to do some sort of work moving forward to keep busy and engaged. Some suggested a side gig. So meter maid came to mind as a possible option.

    Now for the business hours, apparently they aren’t around anymore due to meters becoming digital and no longer accepting coins. Maybe I can revive it as my new project.
    Can I count on you as a customer? :D
     

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia