Too poor to retire

Haha yes well milk powder is the last thing on people's minds there right now, although they're not overly enthused about it.

 

Hi @big max, I'm curious to understand how you got zero CGT from that sale - are you a a resident of Australia for tax purposes?

 

I think it is a good thing that folks here in Aus are becoming more wealth creation conscious....we all need to because the gravy train of being supported in your retirement by the Gubb has stopped (at least to any lifestyle standard), and living off Super has been proven to be mostly not doable by the majority of folks (at least to any lifestyle standard) - and with the Gubb tinkering and "stealing' the funds along the way it will be even harder.

I lived in the USA for 3 years, and I saw plenty of evidence that folks aren't wealth creation conscious over there - other than to get rich from some invention, or a business that goes ballistic, or become an immensely high income earner, or acting....mostly dreamworld stuff that only a small % get to enjoy.

The general population over there are very consumerist; spend loads on crap and are upside down financially from my observation.

 

Nope. I'm not an oz resident for tax purposes.

 

Yep someone who gets it, ETF's/LIC's less risky and instant diversification. Require no more research and less commitment than property.

I have seen this all to much, also add the must have latest, I Phone, Big screen TV, and the latest model Boganmobile parked in the drive way of some hideous 21 room McMansion that's filled to the brim with must have crap!

 

Yep and all on credit card, hire purchase, lease and/or rent-til-you-buy. This way you never have to pay for it!!!