Lets talk Income

You cant buy this one "good health".

 

Enough to survive getting sacked by a number of 20-something managers in a given year, who might think that staff constantly checking Facebook updates and texts every 5 minutes at work is acceptable behaviour, and not appreciating that it isn't.

 

I only need about $30-40k pa. And this would include one or 2 overseas trips.

Don't forget the more you need the longer it takes to get there. Be content with little.

 

@Terry_w Wow I reckon two (decent, in my future version) overseas trips would take at least half of the max range of your budget!

 

I spent $5000 on the last 3 week trip

 

Is that with no mortgage and living in South America? I could do it with no mortgage and $50k pa but can't imagine managing with much less.

 

No loan (not mortgage) and living in Sydney.

 

Are you actually planning to retire on up to $40k pa though, or is that a hypothetical amount? Just being nosey

 

Multiply x 4 when adding wife and kids.

 

I could 'retire' any moment, but I like to work (casually though). I don't really plan to retire as I am not in the rat race.

 

That includes 1 wife, but no kids. kids don't hang around forever (though some try to delay it forever).

 

Please keep posting, your knowledge is valuable on this forum, so don't retire just yet

 

My kids seem to hang around, that's OK though, I enjoy their company

 

I was just curious as to how you'd do it, but sounds as though you're a bit like me using passive income topped up with salary from casual work when it suits.

 

Its an interesting conundrum. How much is enough.
I have seen too many people bust their ass so they have enough. By the time they got there, they realised they would never have time to use it all anyway.

I have a target of the magic $100k/pa mark. No idea why, it just sounds like a nice number. However, I am going to stop having a job well before I get there. On the understanding that I will need to, from time to time, top up the coffers so to speak.
If I can walk away at $50k/pa passive and own my own home, I think 'it will do'. Wont be hard to do a few odd jobs here and there to get to the $100k and keep doing things to get to that $100k mark.

If it all goes bad, well, Ill be back shinning my arse as a desk jockey again.

I know the $100k is often the magic number, however, I would question how many people have actually ever made that figure (after tax) in a year. $100k is a pretty decent number to be spending in a year (esspecially if you own your own home and have no debt to service).

Blacky

 

Slightly off topic, the way we 'save' money on holidays - apart from snaring flights and hotels at low prices, is to ensure the holiday is as long as possible. That way, you'll:

- see more of the destination/region you're travelling in, and be able to take your time doing it
- be obviously more relaxed. The 3 week point is when you truly start to get used to winding down, only to simultaneously dread going back to work.
- save on food and accommodation - by default due to the length of your stay, you'll err towards airbnb type places and thus be cooking more and paying less than hotels
- get more bang for buck from your flights ie 6 weeks compared to 3 weeks for example
- typically, the longer you stay the better the hotel/airbnb rate


Going against my own rules as we're going to the US in April for 3 weeks, but if work is willing to let me take the leave, we'll do Bali/Japan for six weeks at the end of next yr.

 

How much if you have more than one wife (very open and harmonious relationships).

 

Those are my thoughts. I can choose to use $50k pa and be comfortable or do a few extra shifts to be able to splash the cash more, imagine I'd be spending money for the sake of it though. That's why I'm not striving for $100k.

 

Are you planning to go back there for long period Geoff? I'm going to google Medellin