How much income do you need to live the dream?

Discussion in 'Investment Strategy' started by sash, 20th Jul, 2015.

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Who NET income do you need to live the dream?

  1. Less than $35k

    5 vote(s)
    3.3%

  2. 35k to 60k

    15 vote(s)
    9.9%

  3. 60k to 80k

    18 vote(s)
    11.8%

  4. 80k to 100k

    18 vote(s)
    11.8%

  5. 100k to 120k

    35 vote(s)
    23.0%

  6. 120k to 150k

    14 vote(s)
    9.2%

  7. 150k to 180k

    10 vote(s)
    6.6%

  8. 180k to 200k

    2 vote(s)
    1.3%

  9. 200k plus..

    35 vote(s)
    23.0%
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  1. Perthguy

    Perthguy Well-Known Member

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    11,767
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    Perth
    One in Perth and one in Melbourne. Not the same market conditions at all, but the same outcome. I don't think getting rent from residential investment properties is magic. When I retire and get income from super, residential IPs, dividends, cash and maybe a CIP, that will be magic. Most of it is already set up too, it just needs building. As I stated in my post, I would not feel very secure if I had to rely soley on rental income in my retirement.
     
    Perthguy, 23rd Jul, 2015
    #161
  2. Perthguy

    Perthguy Well-Known Member

    Joined:
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    11,767
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    Perth
    That's good! If we all invested in exactly the same way, we would collapse the economy. I prefer to diversify my investment portfolio across multiple asset classes to spread my risk and to create multiple, independent income streams.
     
    Perthguy, 23rd Jul, 2015
    #162
    OC1 likes this.
  3. sanj

    sanj Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,471
    Location:
    Perth
    im a bit ADD, i prefer playing in a few asset classes, obtaining a competitive advantage in them all and become very good at it :D
     
    sanj, 23rd Jul, 2015
    #163
  4. OC1

    OC1 Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    216
    Location:
    Melbourne
    Shuddup sanj :p:D
     
    OC1, 23rd Jul, 2015
    #164
  5. sanj

    sanj Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,471
    Location:
    Perth
    these gold shirts arent cheap!
     
    sanj, 23rd Jul, 2015
    #165
    GreenGoblin, mrdobalina, D.T. and 1 other person like this.
  6. Daniel007

    Daniel007 Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    256
    Location:
    Sydney
    What would classify as outside the square?
     
    Daniel007, 23rd Jul, 2015
    #166
  7. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World
    investing in other asset classes, trading shares, renovating to add value, developing property/land, flipping, buying in markets that are rising Australia wide, investing overseas, start a business, am sure there are more.."
     
    MTR, 23rd Jul, 2015
    #167
    Jessproperty and Daniel007 like this.
  8. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,282
    Location:
    Sydney? Gold Coast?
    Yep!
    :D
     
    skater, 23rd Jul, 2015
    #168
  9. Jessproperty

    Jessproperty Well-Known Member

    Joined:
    21st Jul, 2015
    Posts:
    49
    Location:
    Sydney
    Hey MTR... I beg to differ ha ha! I'm pregnant with my 3rd child and am currently working on 2 DA's, a slab about to be poured on our family home and settling on a new property. I do most of my work when kids are at Kindy/ school or evenings.

    I don't believe that having kids is a reason to set you back from your retirement goals, it just pushes you to retire on hopefully $150k instead of $80k which can't be a bad thing!

    Ok serviceability might set you back with 1 wage for a short time but if you find the right investments in that time you are out of the workforce it's possible!

    :)
     
    Jessproperty, 23rd Jul, 2015
    #169
    OC1 likes this.
  10. MTR

    MTR Well-Known Member

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    19th Jun, 2015
    Posts:
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    Location:
    My World
    Neither do I

    I was comparing a single high income earner Sash' scenario to a family, double income/children.

    I have 2 children as well and it did not get in the way of me retiring early, re read my post.

    Anyway, sounds like you are going great guns:)

    MTR:)
     
    Last edited: 23rd Jul, 2015
    MTR, 23rd Jul, 2015
    #170
    Jessproperty likes this.
  11. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,663
    Location:
    Sydney
    Its a myth...MTR...I earn $3/hr...and work 168 hours a week to make ends meet.:p
     
    sash, 23rd Jul, 2015
    #171
    MTR likes this.
  12. Linda in May

    Linda in May Member

    Joined:
    26th Jun, 2015
    Posts:
    12
    Location:
    Sydney
    I am not sure...my dream is to learn composing in a music college even I am no longer at a student's age
     
    Linda in May, 24th Jul, 2015
    #172
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