Too poor to retire

Should be the PM's headaches, not yours...

 

True but why would you work hard if you weren't doing it in a smart way.

I took that as a given. Why would anyone work hard in a dumb way? Rhetorical question!!!!

 

Aren't many, many people already doing this? hence poverty at retirement.

 

Well done - really admirable to have such sucess and especially without tertiary education.

However, sometimes stuff just happens.

Many women will end up with very little if they have taken time off work to have kids, or been subject to domestic violence etc (not to mention the gender pay gap).

People can also get sick and lose their capacity to save, and sometimes a lot more.

It's easy to say anyone who isn't financially successful must be a bludger, but not true at all.

 

LOL this made me laugh so much.
You need a really good property manager

 

Gotta .
IMHO, the really 'dumb' ones aren't working at all!!!

I know someone (a relation by marriage) who very proud of the fact that he has a B.Ed. and has not paid back $1 of his HEC debt after 5 years. What!!!!

 

You make a fair point, but I don't think he said 'anyone' but rather there are a lot of people.

 

Yeah that is infuriating. Unless there is some good reason, the government lent you money and now its time to pay back.

 

That's what I thought, too. At least now the PM seems to be realising that I'm not being a difficult landlord to deal with, but it's the tenants who are causing the biggest problems.

I will be very interested to see what transpires over the coming weeks ……… (it's just a pity that I've had to wait so long, and be out-of-pocket for so long, too, while waiting for them to take the problem seriously enough to deal with).

I may be looking for a new PM soon…….

 

I didn't say that. But I believe some (may be more than we are prepared to admit), only have one strategy for funding their retirement and that is the pension.

I am nearly 60 and I know many people who are worse off than me. But, they didn't work hard, they didn't save, they didn't invest. Up to now, they had a great life, they went to sporting fixtures, restaurants, movies, great holidays, nice cars, latest fashion, ... They have had as many opportunities as I have had (some more) and they don't even own their own home.

They have had the good life. Their day of reckoning is fast approaching (some don't even realise it). For me, the good times have arrived and they are sustainable with no help from any government. Some may disagree but I have planned and worked hard for this and I am going to bloody enjoy it.

That is why we have such a great welfare system in Oz (must admit I have never used it).

What gets my goat is people who have the welfare system as thier Plan A (and it is their only plan). It should be their Plan B or even better, their Plan C or D or ...

 

Sorry to hear the PM hasn't been doing the job they are paid for...

I have had a few in the past that were as you describe and a point came where I just pulled the trigger and found a new one....unfortunately 'new' doesn't always mean better. You never really know if the PM is a good one until issues arise and then you see how they deal with it. From the beginning of my investment journey to now I have not been impressed with PMs as a whole.

 

Even if pension is in the picture, anyone who has been working constany since the introduction of super should have sufficient to supplement the dismal payment of the pension.

The bod in the article doesn’t have $100k in super but she can draw down $5k+/yr to add to her pension to make life more tolerable without losing the support.

 

Sounds like Singapore via Temasek....govt even tells everyone what returns they get and when they can pull it out. Sad lot.....Orwellian at best....

 

Actually property prices in both counties are high. Which as an investor in oz is also what I would like to see. Remove cgt and decrease taxes and prices will rise. That's what we want as investors right?

 

It's actually fine if you are an investor and can anticipate what the government is thinking.

And don't kid yourself - every country has a government which can hugely influence prices. And oz is no exception. Our govt could make prices shoot up - relax on foreign investors, decrease cgt, lower borrowing rates, give bigger home owners grants, or they could make prices shoot down (do the opposite of the above). In each case it's key for an investor to anticipate government policy as best they can. It's actually easier to do this in Singapore than in oz where due to the political system policy is a lot more unpredictable.

 

Yep...I'll take the OZ system any day....talk to the locals in Singers and they are not happy campers. The expats get all the plum jobs...the locals have to work till late sixties...life is not so perfect.

More opportunity in OZ.

Motto of Singapore is some people are more equal than others. Read Animal farm lately...wonder what happens to the workers when they are of no use...knackery anyone??

 

Well first of all my aim is to invest where I make the most. I don't care much about whether the overall population are "happy campers" or not. What I want is an roi. And my returns in Singapore have been spectacular. One example bought a place with 20% deposit for around 800k in 2005. Sold in 2014 for 2.4m. Zero capital gains tax. Oh and rented cashflow positive the entire time as interest was less than 2%.

So 160k invested. Return after 9 years around 2.4m as rental income covered the 160k investment. So was I a happy camper? You bet I was! (Oh and did I mention agents charge 1% commission to sell, and even that is negotiable?)

You are right - Singaporeans are not a happy bunch. And government is indeed Orwellian. But please dont confuse investment opportunity with politics.

On a somewhat related note, there are a significant bunch of complainers and whingers on be Gold Coast right now (by no means all, but there are some who complain the city is growing too fast etc) Now do you think I am letting that put me off investing? Or can I see the massive opportunity there as an investor.

 

And as for expats getting all the good jobs in Singapore - well if that's the case you know what you need to do right? Become an expat living in Singapore. An investor mentality will always seek opportunity.

 

Nice growth...but don't get caught in a down turn. Hopefully you have pulled the money out.

As for the GC...yes..some interesting time between now and Comm Games

 

No chance...i still get paid as well here. Life's too short to leave Oostralyaaa .....besides...you think rents are expensive here...Singers and Dubai may make your eye water.