Mini Retirements

Discussion in 'Investment Strategy' started by Terry_w, 23rd Jul, 2015.

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  1. Jack Chen

    Jack Chen Well-Known Member

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    Also if my portfolio can do 5-6% CG in the background then I will have made more than both our full time incomes combined in a year (after tax)
     
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  2. wombat777

    wombat777 Well-Known Member

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    My plan is to do something like that once I get to 55 ( another 12 years ). Alternatively I can negotiate additional leave.

    Plan is to have a significant passive income in place by then - provide APRA don't put too many roadblocks in the way.
     
  3. Heinz57

    Heinz57 Well-Known Member

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    Please read a wonderful blog called "Bumfuzzle"
     
  4. Terry_w

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

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  5. Heinz57

    Heinz57 Well-Known Member

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  6. Jack Chen

    Jack Chen Well-Known Member

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    Just came across this excellent blog

    http://affordanything.com/2015/02/1...-retirement-whats-the-most-awesome-lifestyle/

    Flying out in 3 weeks for my mini retirement. During which time I'm also looking to learn the guitar, learn to swim, and reading boatloads of books.

    Depending on how this mini retirement goes I reckon I'll probably do another in say 2-5 years and move towards semi retirement rather than early retirement.

    I still think there's value in a job as long as you're good at what you do and strive to add value.

    Edit: Previously I used to want to retire as early as possible but now I think it's important to enjoy your life now rather than being miserable now and deferring gratification. I think balance is key.
     
  7. bythebay

    bythebay Well-Known Member

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    This is a great thread terry
    A topic I'm extremely interested in
    Will be watching this thread
     
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  8. WattleIdo

    WattleIdo midas touch

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    This is one of those threads giving me a wake-up call.
     
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  9. DanW

    DanW Well-Known Member

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    Would be great to take the winters off work.

    Spend them overseas then winter doesn't exist anymore..

    Still too early for me, lots to get done before then.
     
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  10. Doncossack

    Doncossack Active Member

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    I am taking a minimum of 3 months off and going to live in Thailand(sick of Russian winters). Then will decide to return to Australia or choose another country. Maybe do a short stint in China and teach some English... Decisions decisions. ....
    I have been living abroad for 14 years now.
     
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  11. bob shovel

    bob shovel Well-Known Member

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    We have been having mini retirements since having kids, basically looking after the kids while one works. And nite we don't plan on going back to "full time" work. Why the flock we would want to work when we can chase our kids all day. some industries are better than others but there are those niche areas that pay well (plus tax benefits i never really thought to much about) plus flexibility. Casual work, night shift and work from home are options to get you out of the "9-5" but still bring home the bacon.
    The idea of going back to suburbia scares us and makes me feel sick thinking of the Sydney traffic. But at the same time i like suburbia and the people keeping the country turning and keeping up with the joneses, buying more stuff and paying all that tax.... While we spend less plus pay less tax! But have the lifestyle.

    i have the 4 hour work week but only 5 pages in, after a mate told me about it he said we're pretty much doing it, he said to make sure we don't turn back! Plus looking to improve our income streams
     
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  12. Terry_w

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

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    That is a great blog - worth reading
     
  13. HomePage

    HomePage Well-Known Member

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    It was when I took 2 months long service leave around 5 years ago that I got the taste for what it would be like to be retired and seems to be what is being referred to in this thread as a mini-retirement. Two years ago I tried to take a full year off as long service leave to try this mini retirement thing more extensively, but my employer said no. After crunching the numbers, I determined that I no longer needed to work anyway so I said my goodbye and embarked on my grown up gap year. Two years later, I have no desire to go back!
     
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  14. Azazel

    Azazel Well-Known Member

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    Me too, good opportunity to do things you said you were always going to do. Travel, study something different, finish your manuscript etc...
    Semi-retirement with the aim of going back to work again.
     
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  15. Chilliblue

    Chilliblue Well-Known Member

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    The quality of life should be reviewed more often
     
  16. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Thailand is great if you keep away from the expensive areas such as Phuket and surrounds.
    The North East of Thailand is cheaper (Udon Thani) than Bangkok .
     
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  17. Blacky

    Blacky Well-Known Member

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    I have tried to follow summer previously, and that too gets tiresome. I think one of the big issues in Aus is that winter isn't a 'real' winter.
    Try spending summer in a warm climate and winter is a frozen climate and it is a pretty good balance.

    Im in what I call semi-retirement now. Working 1month and taking 1month off. However, this too is seeming like a bit much. Intending on taking a mini-retirement is a couple of years once I can afford to buy my first ever PPOR.

    Blacky
     
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  18. Terry_w

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

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    You could live in Thailand on $12,000 AUD per year. I have a mate living there and he is in his 4th or 5th year now. His budget is $1000 per month and that includes his school fees (for the visa). He also lives in a tourist area.

    How soon could you build up a passive income of $12k pa?
     
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  19. Harro

    Harro Well-Known Member

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    That's interesting Blacky that you found chasing the "Endless Summer" tiresome.
    We have found this winter to have been extremely cold, so much so, next year we will be spending the entire winter months in the tropics.
    Thankfully, we are off to the Solomons next Tuesday for some much needed warmth.
     
  20. Blacky

    Blacky Well-Known Member

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    We have looked all over the world at where we want to live/retire to. I love traveling to SE Asia but it also has its challenges. We like the location, and can set ourselves up very nicely. Have a nice house, maids, drivers, cooks etc however, continue to live in a third world (or second world?)environment. Your living space is only one small part of your environment.
    That part of the world can offer a pretty decent balance though. Easy to travel to other places and offers a cheap but decent lifestyle. I would need to find something to do though. Sitting on a beach all day with a beer for lunch (breakfast?) is all good while on holidays, but doesn't create an overly stimulating life IMO.

    I also like Japan and would move there for a period (something we are looking at). Visas can be a challenge and it too remains affordable (if you are out of Tokyo).

    Blacky
     
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