Retirement with income poll

Discussion in 'Loans & Mortgage Brokers' started by Drunkanbarbarian, 19th Oct, 2016.

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Which age and income would use rather retire on

  1. 29 years old with 60k a year

    19 vote(s)
    23.2%

  2. 40 years old with 97k a year

    27 vote(s)
    32.9%

  3. 50 years old with 130k a year

    27 vote(s)
    32.9%

  4. 60 years old with 190k a year

    8 vote(s)
    9.8%

  5. 65 years old with 260k a year

    1 vote(s)
    1.2%

  6. 75 with 450k a year

    0 vote(s)
    0.0%

  7. 80 with 600k a year

    0 vote(s)
    0.0%

  8. 85 with 1mill a year

    0 vote(s)
    0.0%

  9. 96 if your alive - 5 mill a year

    0 vote(s)
    0.0%
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  1. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    All money is after tax
    The more years you work the more life your throwing away basically because most of your time is consumed with working
     
    Drunkanbarbarian, 19th Oct, 2016
    #1
  2. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Weird poll, but if those are the only options, retire at 29 for sure.
     
    Ace in the Hole, 19th Oct, 2016
    #2
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  3. Iamnumber5

    Iamnumber5 Well-Known Member

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    :) Can't find the option I want
     
    Iamnumber5, 19th Oct, 2016
    #3
  4. Sonamic

    Sonamic Well-Known Member

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    Seeing as I'm already 45 I'll have to "use" the 130kpa option. Damn.
     
    Sonamic, 19th Oct, 2016
    #4
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  5. Jerry O

    Jerry O Well-Known Member

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    weird poll indeed. how did you come up with the income for each age group?
    Anyway, my pick is not on the list. 30 with 32,400 ;)

    So i missed it, its gonna be the 40 yr at 97k option for me then.
     
    Jerry O, 19th Oct, 2016
    #5
  6. D.T.

    D.T. Specialist Property Manager Business Member

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    Question is essentially sooner with less or later with more.

    Earlier is better! Way too much life to enjoy than to spend 80hrs a week at 50 trying to earn a buck.
     
    D.T., 19th Oct, 2016
    #6
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  7. Terry_w

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

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    I think it is a good question - 'retire' sooner on less or work longer for more.

    I know many people that ***** about work, yet they could retire tomorrow but don't - and I just can't understand why!
     
    Terry_w, 19th Oct, 2016
    #7
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  8. PJ1

    PJ1 Well-Known Member

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    Im nearly 41 and voted for 40 in order to travel back in time.
     
    PJ1, 19th Oct, 2016
    #8
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  9. larrylarry

    larrylarry Well-Known Member

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    Mate, why would you retire early? You have much to contribute. ;)
     
    larrylarry, 19th Oct, 2016
    #9
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  10. Indifference

    Indifference Well-Known Member

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    @D.T. +1

    That's how the poll should be worded.

    Anyone moving past the first option either doesn't value their TIME, is bedazzled by bigger $ values or confused by the intent of the poll question, IMO.

    29 with 60k /yr.... of course! Even though I'm in my 40s that would have been an awesome position to be in at that age....
     
    Indifference, 19th Oct, 2016
    #10
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  11. 158

    158 Well-Known Member

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    In Australia, you can effectively retire at 18 without lifting a finger of work whilst living it up on Centerlink $14,000+ pa.

    pinkboy
     
    158, 19th Oct, 2016
    #11
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  12. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    Contribute to what mate , the circus ?
     
    Drunkanbarbarian, 19th Oct, 2016
    #12
  13. Cactus

    Cactus Well-Known Member

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    Disagree. I have 3 kids and there is no way I could live on $60k per annum before tax. I would have to work as well. So hardly retirement. As I had kids young, I could retire at 40 on $97k, assuming a ppor paid off.
     
    Cactus, 19th Oct, 2016
    #13
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  14. ellejay

    ellejay Well-Known Member

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    Exactly, here we go again. Depends completely on individual needs and wants. A 29 year old could pick the first option then find circumstances change drastically and need to move to a different option. Pick your own option and review as required.
     
    ellejay, 19th Oct, 2016
    #14
    Cactus likes this.
  15. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    The money is after tax , if you live with in your means i think its definitely possible
     
    Drunkanbarbarian, 19th Oct, 2016
    #15
    Terry_w likes this.
  16. MTR

    MTR Well-Known Member

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    Not sure I get this poll, but you can not buy time, if you don't pick 29, I can give you the name of my shrink:p
     
    MTR, 19th Oct, 2016
    #16
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  17. Terry_w

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

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    I wouldn't retire as I enjoy the work, and I can handle the hours 4 per week.
     
    Terry_w, 19th Oct, 2016
    #17
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  18. Barny

    Barny Well-Known Member

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    Walt Disney disagrees. You watch, he will come back one day.
     
    Barny, 19th Oct, 2016
    #18
  19. sash

    sash Well-Known Member

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    This couple did it on 30k...at 38 ...they are now 60 something....very inspirational....

    Retire Early Lifestyle

    Watch the YouTube clip called "What is you number?" ...the 4% rule is explained and how to calculate how is required to fund your lifestyle......
     
    Last edited: 19th Oct, 2016
    sash, 19th Oct, 2016
    #19
  20. WattleIdo

    WattleIdo midas touch

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    At first I chose 29 @ 60K but then remembered how much I valued my job and how much I got out of it up to age 40. So despite the generous incomes I ended up going with age.
    My mum died the day after my 40th birthday and I just have never been the same since.
    Incidentally, I would be living on close to newstart allowance now - with buffer and money for reno..
     
    WattleIdo, 19th Oct, 2016
    #20
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