What's your goal?

Come to Germany Sash every 4th car parked on the road is a Porshe or Merc--AMG with all this money made through property investing start to spend a little as the future for everyone is unknown--

 

Yes...I know .....my poison is travel.....I barely use my care. I do about 10k klms a year.

 

Would it be quite safe to assume that $2m equity today would yield $200k gross in 10 years?

I think not.

 

Nothing's ever guaranteed but if you had $2m in equity today you could reasonably see it yielding $200k gross in 10 years. The trick with planning is to assume a low, mid and high case for your growth and yield assumptions.

 

Financial freedom

Would never quit my job and I don't think I'd want to retire at the age of 40 either. Sounds like lots of people hate their jobs and would quit if they ever had the opportunity..... Fortunately, I like what I do (for now atleast) and it pays alright.

Passive income generated from property or investments in other class assets would allow me to be financially 'free'.

 

I don't think it's a case of hating their jobs so much, as just wanting the freedom to choose if/when and how they work. I'd much rather spend time with my family than commuting 5 days/week and doing the 8-5.

 

When I was younger money was more important than time. Now Im half way through time is more important than money and money is what you need to "buy" time. Not essential but highly recommended.

 

This post kinda summed it up for me

 

Saw some dudes in King's Cross doing that, I don't think they had a single property.

 

Ciao Amico,
forse siamo in parte la stessa...
I too like Italian, doing my AMUS, Kyokushin... not so sure I can be bothered with studying law, and I'm not so handy, but would be fun.

 

Word!

 

You know how "they" say you should follow your passion, but it's actually doing something that helps us to find our passion. It looks like maybe you're on the right path. Some people are doing property to be doing property.

 

www.mrmoneymustache.com

Not everyone, but many of us can probably afford to work less. After saving for travel and traveling for 9 months I realised just how little money I needed to spend. It sounds like you have that plan in place. I like the idea too, it means you don't need to build wealth in such a hurry to retire, but having 4 days off a week is a much different life to only having two.

 

No offence, but the question to ask may be, do you need all 140 thousand dollars every year to live a comfortable life that you're happy with?

Find the number you would be happy with and work from there would be my advice.

Sure, I'd like a million dollars every year, but I live an enormously rich life on just $55,000/2 people. No car no children, I rarely buy books, I use the library, I get my music on Spotify etc. Yep, my life isn't for everyone, not saying it is, but if you think outside the square a bit, totally possible to live well on less. I bought an unused Ermenegildo Zegna tie silk cashmere for $14 from an op shop the other day.

Yep, getting up to $140,000 will take some work but can also be done, nothing is out of reach if you can save quite a bit of that stash.

 

Really good to see someone being so encouraging. Thanks.

 

I wonder if for some people who hate their job more if that's more of a motivation than for those who are comfortable in their work? It's neither here nor there, if you're happy you're happy, it's just easier to be happier wealthy.

 

I believe hating your job is a huge motivator to achieve financial goals.
Not much more than 10 years ago I was a labourer and had done labour intensive jobs for the 10 years of work after finishing high school.
It got more intense in the final years and became almost unbearable physically and mentally.
I've never been suicidal but it felt pretty close to what that would feel, day in day out, couldn't take it anymore.
So Instarted a business and made 10 mil in the next 10 years.

 

Easy, just become a dole bludger in Caboolture.

 

Wow! We might be brothers!

I practice goju ryu - 90mins of sparring for my sensei's birthday tomorrow night.

 

Yes, you are right. I didn't realize that while we EARN $140k before tax, we actually only SPEND around $45k after tax. I can't believe I hadn't thought about it this way. The kids are still young so I know things will get more expensive, but yeah....you're right.