Lets talk Income

Discussion in 'Investor Psychology & Mindset' started by MTR, 21st Dec, 2015.

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  1. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Perth
    We love travelling but only really let ourselves do it about 5yrs ago after a lot of delayed gratification. But by then we had 3 kids and travelling with 5 can be expensive - 5 plane tickets, 2 hotel rooms and 5 of everything. We don't begrudge it though and the kids love it.

    So our annual expenditure is pretty high and will continue to be so. We must make enough from RIPs and CIPs to fund this and grow the nest egg.

    I'm going to have fun whilst I'm young and can enjoy it then I'm going to have fun and grow old disgracefully :confused:
     
    Westminster, 28th Dec, 2015
    #101
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  2. MTR

    MTR Well-Known Member

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    19th Jun, 2015
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    My World
    I am of the opinion that you should play along the way otherwise what is the point, you can not take it with you.

    MTR:)
     
    MTR, 28th Dec, 2015
    #102
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  3. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
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    11,676
    Location:
    Newcastle
    There's two reasons for not doing so:
    1. I'm doing work that I enjoy, something I know that I'm making a good positive contribution
    2. My wife isn't interested in doing so at this moment.

    Last year I went around several places which had been mentioned in various places as good retirement destinations, with a view to sampling.

    I'm a city type of person, and I don't really like tropical heat. I'm not much into beaches.

    Of course, my views on the places I visited are entirely personal. What I liked, others may not.

    Guatemala is a lovely place to visit, but I felt the poverty. Guatemala City is chaotic. Antigua is a lovely colonial city; I stayed two weeks twice in San Pedro on the beautiful Lake Atitlan. I would love to visit again, but I didn't feel comfortable about living in any of those places.

    Costa Rica was nice, especially Monteverde which has beautiful rain forests. It is a bit rural though. I couldn't live in San Jose; Quepos was nice enough but it's now very expensive. I'm told that Santa Fe, which is inland and at an altitude, has a pleasant climate.

    In Panama I stayed at Boquete, Boca del Toro and Panama City. Boquete wasn't bad. It is at an altitude, and the climate is pleasant most of the year. There are a lot of micro climates, and some people have found themselves in small areas very prone to fogs. There is a big expat community there, for better or for worse. Boca del Toro is on the Caribbean coast, and a bit too tropical for me.

    In Belize I stayed on Cay Caulker, a lovely laid back island. A great place for a holiday but too small for my taste. I spent several days on a Mennonite farm on the Belize mainland near Orange Walk, a very interesting experience- but the poverty in Belize is just too overwhelming. Crossing the border into Mexico is a shift into another level completely. At least English is widely spoken in Belize.

    Medellin is the place I felt most comfortable from all those places. I visited in December (the Christmas lights are magical) and stayed March to May. I loved the climate; not being a colonial city, the infrastructure is far better than many other cities, though it doesn't have that old world charm. There is extreme poverty, but at least there is a lot of activity which encourages employment, education and betterment. Most of the central part in the valley is very well off, the poorer parts are up on the mountain sides. The cost of living is quite low by our standards, but of course, it can be harder for people working there.

    There are other places I'd be happy to explore- Asia would be much closer to home. There is the unlikely possibility that we may have grandchildren, and we wouldn't want to be too far from them should that happen. Our daughters are travellers, and would probably love to come visit- and stay for free- wherever we may be.
     
    geoffw, 28th Dec, 2015
    #103
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  4. ellejay

    ellejay Well-Known Member

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    19th Jun, 2015
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    2,192
    Location:
    Kimberley and NZ
    I've recognised that these cheaper places aren't on my list of options, not that I really thought that they were. I used to spend quite a bit of time in Africa and loved it in many ways. I always felt very different though. Everyone used English, no issues with language, but no matter how much I liked the people and they seemed to like me there was an ever present barrier. I don't want to be the richest person in town, standing out from the crowd, a potential target for whatever due to my appearance/colour and perceived wealth. I'm definitely not a city gal so that makes it worse. There's no way I'd feel comfortable in the countryside in some of the countries with cheaper COL. I'm sticking with Aus and NZ with their higher costs because they generally mean that I can make friends with people without feeling I have to take on another role, i.e. to change their lives for the better. I can relax just taking on the role of a friend with people around me. I still want to help to improve lives but also want to live in a place where I can give and receive friendship, nothing more.
     
    ellejay, 28th Dec, 2015
    #104
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