We're just about to build house number 5. It'll be a PPOR for about 5 years and then turn into a rental. By that time, we'll be late 40s and the wife's next transfer could well be her last, or second last at the most (she's a primary school principal with about a 7 year cycle). We hope to develop a vacant 1/2ac block we already own in regional NSW by then into a 3x2x2 and 2 of 3x2x1 duplex in this employment cycle of the wife's we are in (5 years left in cycle, but hope to develop in next 12 months). After that, we hope to buy another 1-2 IPs a year for the next five years, and then look at more liquid investments. Out of those seven to ten IPs we hope to buy in the next 5 years, we've had lots of discussion around where we actually would enjoy living with a view to buying something in the right place to retire to. Have you planned where you want to settle when you retire? Is it multi location plan? Where is your ideal place to while away the time?