Who is going to retire young

How does this version of retirement sound - enough money to not worry about living so able to quit day job but taking on projects (investing/working/hustling) to to make money to pay for the luxuries in life and able to start and take on whatever projects as you feel (or how you want to spend on stupid/luxury things)

 

Go girl

 

I think I'm doing a modest version of that now. I don't understand all these clever people who have done so well but their lives are boring. So their dream is to 'go travel'.....and then what? That gets boring fast. Travel the globe with no aim for 12 months and you will see. Maybe a lifestyle of international investing and country hopping is a lot more interesting and better use of talents;-)

 

Not a girl
Wont be disclosing age either (maybe a bit of a girl mentally)

Came up with that idea around 2015/2016 (at that time just been through 1 property and learnt how to add value/equity which im still using today). At around 2017/2018 was trying to achieve that by late 2019 though things haven't worked out as planned. At this stage hoping to achieve by the end of the year though probably keep my day job till COVID settles as I don't really have much else to do

 

Travelling the globe with no aim sounds like the problem with that post.

 

As I have posted above, we have been retired to 10 years now.

I look forward to the day when we are bored, even just one day would be nice .

When we retired, our dream was to undertake 1 to 2 major overseas trip each year.

Our last overseas trip was 4 years ago in June-July 2016.

COVID has disrupted our plans this year but serious health issues threw our plans “out the window“ for the 3 previous years.

Just means we will “up the ante” when our borders open again and it is safe to travel. Now the aim is to do 2 to 3 overseas trips per year.

 

Travelling and exploring with no aim is the whole point.

 

Which makes the decision to sell very easy. My goal was always income. No point in holding properties for many years more than I need, if I can sell & pop the funds into the offsets of the others, and have the income I was looking for.

 

That's pretty much us. We've got enough funds to live off of, but if a project comes our way, we take it. Like a very cheap home that we can pay cash for Also Hubby was offered a short term job on contract, paying double his past salary. Offer to good to not accept, so he took it. A few months in, he wasn't enjoying it anymore, so I told him to quit. It was a hard decision for him to knock back the dollars, but I said you don't HAVE to work. Do it if you enjoy it, but if you don't, there's nothing holding you there, so leave. I could have never said that to him, maybe even 10 years ago.

 

Yeah I like those. 50 to 60k Euro. When I live somewhere for work buy it. Later rent out. For a hobby later when I have more time in one country I want to try renovations. Fun journey is life if you plan it well. Some is also happy accidental discovery

 

This dilemma always reminds me of the hunter, monkey and peanut tale

A Parable…The Tale of the Hunter, The Monkey & The Peanuts….

 

Yes as I keep repeating. Fundamental principles are universal. Would you buy a house in your country without a title search? But many go to 'foreign' places (foreign being a relative term) and buy property with zero due dilligence. No title search and find the property in Turkey is on milatary land. The developer promised a rent guarantee in Spain ha ha. The developer escaped with your money in Montenegro. Ha. Those things happen to fools in every country in the world

I also posted at the start of the thread that I think the easiest way to make money is being a 'friend' to all those lemmings who want someone to do it all for them and help them buy. So buyers groups, the friendly estate agent with his lawyer friend, the translator from your home country. Every day in every YT thread of comments I see these suckers ripe for plucking for smooth groomed operators. Be a OS property broker! Be a RE buying group tour organiser!

 

I saw someone buy a property in Spain, not knowing the language and proceeding to buy, total madness

 

That kind of foolery is not limited to Spain ;-). If you have your own team of people no problems. If you rely on others...if you are not paying them, they are not working for you

 

There are plenty of scammers out there, Australia Included. Research, research and more research

 

exploring is the aim?

I assumed travelling because you can afford and have the time too with no interest in travelling is travelling with no aim

 

How can i retire if I never started?

 

It seems that land tax is a real killer in Australia but there is hope they may reduce it to zero as NZ had the same tax but reduced it to zero about thirty years ago.

Initially principal does cause a cashflow problem as the tax depreciation deductibility reduces at the same time as the interest deductibility reduces and income tax really kicks in .The principal repayment required by the bank is also volitile (it has varied from zero to $100k pm currently it is a very manageable $50k pm) however if you manage to keep your portfolio intact and resist temptation to sell the cashflow eventually rockets away.
Ps I have not yet reached the magic $100k pw either

 

Tried that, maybe I'll just stick to wheeling