Hi All, I have been thinking about my next move to achieve my (early) retirement plan and would like to get ideas/opinions from others & experts here. I am deciding between a) buying a second IP (somewhere in Sydney), or b) investing more in ETF (which I have just recently started). Also, open to hear other options too (though, not quite into share trading). Below are my scenarios. - Salary - $150K pa (gross) + super & Rent from IP ($550pw) - PPOR (Sydney's inner west) ~1.6M, 450K loan I/O at 2.98%, 450K in offset (Note: PPOR was initially purchased as an INV) - IP1 (Illawarra, NSW) ~850K, 751K Loan I/O at 3.04%, 500K in offset - (Total property assets ~2.45M, total Loans 1.2M, total owing 250K) - Managed funds ~$150K - Single, no kids, 47yo, no other liabilities (car, credit cards') - Goal - to be able to retire with passive incomes in 5-8 years Note: currently have pre-approval for another $500K loan for IP2 if I were to proceed. Love to hear your thoughts. Cheers.
On rough numbers you’re probably close if not already there if you include your ppor offset. 450 + 500 + 100 + 150 = 1.2 using the old FIRE 4% rule in ETF’s thats 48k per year or 4k per month. Obviously there are selling cost etc and now you would have to pay the mortgage...
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