What age do use plan to retire ?

Discussion in 'Investor Psychology & Mindset' started by Drunkanbarbarian, 16th Oct, 2016.

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  1. Jerry O

    Jerry O Well-Known Member

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    maybe never. doing nothing can be boring sometimes.
     
  2. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    Your right, lifes to short to trade it all for more money , this will be the discussion of my next post
     
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  3. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    How are you planning such a figure in 10 years ?
     
  4. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    You can do whatever u like , work isnt the only thing to do
     
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  5. Sackie

    Sackie Well-Known Member

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    You can only do what's within your realm of financial capability. No more. Some ppl want to do more/ be more free so they need to achieve a different level of wealth. There is no right or wrong level, each to their own aspirations.
     
    Last edited: 17th Oct, 2016
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  6. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    Your right about that, but i would much rather retire at a younger age to go out and explore the world and enjoy my self , then a much older age just for abit more wealth
    Its like uve only got one life if you leave it to a really old age to enjoy things whats the point your going to die soon anyways , plus at an old age you wont br able to do anything you want because some old people physically cant do much

    As long as you dont leave it for too late is what im saying, just because you want a few more ips or something

    Just my opinion
     
    Last edited: 17th Oct, 2016
  7. Sackie

    Sackie Well-Known Member

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    It's often a misconception. Many ppl think that investors who have massive dreams and continue to build wealth are missing out along the way. Not often the case. The ones i know have an absolute blast along the way enjoying the fruits of their labour.
     
  8. The Falcon

    The Falcon Well-Known Member

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    48 at the latest. Minimum income c. 350k FF (Gross 500k) carefully streamed, 20% reinvested. I hope to do better a little earlier if possible.
     
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  9. Phase2

    Phase2 Well-Known Member

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    Not sure. I once dreamed of retiring at 40 (about 16 years ago) but I had no idea what I was doing. Now I've a pair of golden handcuffs that are probably a little too comfortable. My version of retirement has changed, to maybe working 6-months a year (I can't do part-time in my line of work yet), or getting a few NED (non-exec director) board appts.
     
  10. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    Okay true , ok but to pursue their dreams of more wealth building they are going to have to keep working right ?
     
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  11. kierank

    kierank Well-Known Member

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    Nope.

    I have borrowed a lot more money and brought more property (in $ value) in the last 5 years of my life (since I have been retired) than I did in the first 55 years.
     
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  12. Dan Donoghue

    Dan Donoghue Well-Known Member

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    35K PA Passive?? Not really very hard in 10 years. Anything above 35 is a bonus.

    I could save 6K a month (instead of paying it into my mortgage like I currently do) and after doing that for 10 years it would do me for 20 years (although I don't like this method I must admit).

    Or I could get multiple IP's and then sell down after the next boom cycle and use the funds to pay out other IP's to generate a passive income.

    Or I could pay off the remaining on my PPOR then live in a camper van as our PPOR would currently generate 26K in Nett income, This would be closer to my goal of 35 within the next 10 years.

    Or I could win lotto, I like this one but I don't see it happening.

    Plenty of options available :). Needless to say, I am going with option 2 :).
     
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  13. Mooze

    Mooze Well-Known Member

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    17 years and 2months to go. Don't want to retire before the kids finish high school. Aiming for a year or two out along the way, plus plenty of travel each year.
     
  14. Ed Barton

    Ed Barton Well-Known Member

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    I don't have kids, so no expert. I reckon if you 'retire' before your kids start working, say their mid-twenties then you will be seen as unemployed.
     
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  15. MTR

    MTR Well-Known Member

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    Agree, just do it:)
     
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  16. Plutus

    Plutus Well-Known Member

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    I would like to be financially independent in a decade around mid 30's. with the equiv of today's $$ of around $36k, too lazy to work out what that's projected to be with inflation. When I get there, if I'm still enjoying what I do I might keep doing it, otherwise I might go do something totally different. Too far away to really know.
     
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  17. Casteller

    Casteller Well-Known Member

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    Roughly 3000-4000 Euro a month gross (60K AUD a year), normally this would be heaps in Spain but I have some unusually high expenses (tax, kids, tax, beach house, tax). Once beach house is gone and invested more efficiently things will be fine. Australian property also becoming more cash flow positive which helps.
     
  18. larrylarry

    larrylarry Well-Known Member

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    What's OP plan to retire? Fail to plan, plan to fail some would say.
     
  19. Lacrim

    Lacrim Well-Known Member

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    I don't know. Having an already large portfolio, I'm now starting to ask myself the 'how much is enough' question. I could either hold all the properties, maximise the yield of the portfolio and retire within 3-5 years (my preferred option) OR sell down some and effectively retire immediately OR take on more debt/risk and keep going. There is some merit in not risking the lot for the sake of a few more.
     
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  20. Lacrim

    Lacrim Well-Known Member

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    You mean $300K in net income after tax, expenses etc? If its from the IPs (only), am guessing the debt level on them is extremely low or fully paid off?
     
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