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What are your goals?

Discussion in 'Investor Psychology' started by Rugrat, 24th Jan, 2016.

  1. Rugrat

    Rugrat Well-Known Member

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    Just curious about what everyone aspires to actually acheive through property (or other) investment.
    A lot of people allude to this idea of 'wealth', how do you define that for yourself? And how do you know whether you are there or not?

    For me, I kind of get the feeling that I may be a bit unusal here. I am not chasing 'wealth' or aspiring to be rich. Property investment is about maintaining a lifestyle that I enjoy, both now and into the future. I would like to be able to retire when all the kids leave home and still be able to maintain this lifestyle.
     
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  2. Xenia

    Xenia Adelaide Property Manager Business Member

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    Main goal this next year is to double the size of my business. I only view and work on one bit at at time.
     
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  3. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    For me, right now, nothing is more important than having free time, and as much as I please.
    With time, I can do anything I want to whenever I want.
    Planning on being free by years end.
     
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  4. mrdobalina

    mrdobalina Well-Known Member

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    How did you end up getting along with that new business venture Ace? I recall it was active clothing related.
     
  5. Xenia

    Xenia Adelaide Property Manager Business Member

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    You are looking GREAT Ace.
     
  6. MTR

    MTR Well-Known Member Premium Member

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    Perth, Melbourne, USA
    Baby steps - lose another 5 kg by end of April.....oops that's not property related
     
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  7. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    Work in progress....

    I would like to option of retiring from my current career in 10 - 15 years, maybe even a move into something real estate related for the love of it ;). We would also love to be a position to help the kids out with a house each (they'd have to work seriously hard to get it though).

    We are doing things a little backward, we have bought in our dream location, just have to reno and get the early retirement plan into action now!
     
  8. Charlotte30

    Charlotte30 Well-Known Member

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    Location:
    Christchurch, New Zealand
    My goal was to achieve financial independence. You know you have reached it when you hand your notice in and the boss at the exit interview says "I guess money is not an issue for you any more". Uh, no.
     
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  9. Omnidragon

    Omnidragon Well-Known Member

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    Location:
    Victoria
    I have some pretty tangible short term goals.

    $X profit by 31 Dec 16
    X properties in Aus by 31 Dec 16
    Y properties in Asia by 31 Dec 16
    Raise $Z for new funds management business
     
  10. Coota9

    Coota9 Well-Known Member Premium Member

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    Melbourne
    I am looking at my short term goals for 2016 which is pretty simple

    -1 IP own name
    -1 IP in SMSF

    Review/Reval properties in September to look at equity draw for IP5
     
  11. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Have to admit it was a bit of a fail.
    Main reason being that it goes against my goal in this thread, quite simply, I just don't have the time.
    When I launched it, my main business became crazy busy and I had to put it aside and just never got back to it as main business is still cranking hard.
    I suppose I tried to take on too much at once, got a little burnt, out and since the money was not a reason for doing it, I just had no drive left to keep pushing it.
    Learnt some lessons though which is good.

    Unfortunately, I did not win the genetic lottery and that is not me, sorry to disappoint.
    I'd be happy to get a fraction of his development one day.
     
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  12. Xenia

    Xenia Adelaide Property Manager Business Member

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    LOL - neither did I
    Oh well - at least we have intelligence ;)
     
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  13. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I find intelligence an extremely attractive feature and can actually make someone who looks 'mediocre' suddenly become a lot more attractive. You can give me the most gorgeous girl in the world but if she is not intelligent, I would find her unattractive quite fast.
     
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  14. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Intelligence and looks would be a really dangerous combination !
     
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  15. Perthguy

    Perthguy Well-Known Member

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    You are not unusual. I'm the same. I don't aspire to be "wealthy", whatever that means. I'm interested in having a certain level of annual income when I retire. Nominally, in today's dollars, I would like around $100k per annum. Since I am basically at the start of my property investing journey, I have no idea if this is achievable or not and to be honest, I don’t really care. It's a goal I am working towards and that is enough for me right now.
     
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  16. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Corporate psychopath material:D
     
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  17. D.T.

    D.T. Adelaide Property Manager Business Member

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    Adelaide, SA
    I'm not that dangerous, really.
     
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  18. Xenia

    Xenia Adelaide Property Manager Business Member

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    Good intelligence and looks!
     
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  19. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Its definitely achievable. I have no doubt. As long as you want it bad enough.
     
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  20. Leo2413

    Leo2413 Well-Known Member Premium Member

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    or modest :p