Your target retirement capital and income

You are right. Split between 2 people only $120k grosses required to have $100k net income for both.

someone shared this link a few weeks ago.
pay calculator

that mean a $3 mils porfolio @4% withdrawal rate is required

 

I’m looking for $50,000 a month - $600,000 a year as a bare minimal and it’s doable with retirement in about 28 years.

My aim-
I’ll have $5-6 million worth of properties generating rent income to approx $250,000 pa

super will be $1 million generating $50/$60 k a year

my shares generating $120,000 pa

other stuff- generating $180,000 a year

this is my aim- doesn’t mean I’ll meet this target but I need to aim high and not settle

 

I love how people think just because you live in a city your cost of living is more expensive. After living in both Melbourne and QLD (Sunshine Coast) I can honestly say cost of living is cheaper in Melbourne. Car rego and insurance is more expensive in QLD. Coffee, restaurants are much more expensive here on the Sunshine Coast. Rent is substantially more expensive here too.

Obviously property prices are much cheaper up here but in terms of actual living expenses I would say it’s much cheaper to live in Melbourne than Sunshine Coast. Sydney is a different story.

 

Didnt say living expenses are any cheaper. But selling in syd mel and buying in a cheaper city frees up cash to generate investment income.

 

I like my part to be as big as I can grow it, why, perhaps then I can keep giving out more, where I chose to give. Not everything we grow or accumulate means we plan to spend on us personally or just has materialistic outcome, giving can be part of the plan to.....
So what is wrong with accumulating $10M, $20, $100M etc... it's not just personal, it can be rewarding as you can chose where to give to. What I get out of this is satisfaction in giving those I wish to help, this is so much more rewarding really, when your giving can change other people's lives!

 

Set For Life lottery amount is $20,000 per month for 20 years.

That sounds like a nice number to me!

 

I recall being told a few years back that it is taxed as the ATO view it as an ongoing income stream rather than a one off lottery win.

Still.....I wouldn't knock it back if I won it