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FWIW I've objected to that council re-valuation. No way is our place really worth $1.425m...maybe $1m. The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.
KW - Good sound advice except for the part where you mentioned getting a dog...you need at least two, preferably three. I'd like a fourth one, is that a bit scary ?...am I a bit dog obsessed 
Lots of interesting comments in here about goals of $3-4m and $10m for early retirement.
Just a few thoughts:-
Do you really need to set the aspirational goal that high ? A well balanced portfolio of investments should return an average of about 6% after tax.
In tandem with National superannuation wouldn't $1m ($60,000 per annum plus Superannuation) do the job in conjunction with a debt free house and give one a comfortable retirement ?
Okay, lets assume you want to travel regularly and have a good time, so maybe $1.5m then ? $90,000 per annum plus Govt superannuation, surely that's enough to be comfortable and contented ?
Having done the Mercedes-Benz S Class and Riviera luxury launch thing, trust me, they're not all they're cracked up to be. Launches are great but break down on an alarmingly regular basis and cost far more than they're really worth to you to run. Mercedes-Benz are nice cars but no way are they worth the outrageous premium over a regular car that the German's ask for them.
Maybe a person finds contentment in the simple pleasures of life as you get older and looks to simply be comfortable....my 2 cents.
Last edited by Beagle; 27-01-2015 at 01:28 PM.
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The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.
Yeah, I just can't understand the rates increases as house values have increased, on top of that council increases rates by 5-6 %. Whereas all the money going. Whenever I ring them, I get shocking results. My old council was heaps better. Everyone is just fed up with this, just last night one of my relatives was asking me if the whole one city thing can be reversed. Its the consultants and mgt milking all the rates money. These people knows that no matter what rates has to be paid, an investigation on mgt fees, perks etc should start. Lots of kick backs from co's as well.
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 Originally Posted by gv1
The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.
Yeah, I just can't understand the rates increases as house values have increased, on top of that council increases rates by 5-6 %. Whereas all the money going. Whenever I ring them, I get shocking results. My old council was heaps better. Everyone is just fed up with this, just last night one of my relatives was asking me if the whole one city thing can be reversed. Its the consultants and mgt milking all the rates money. These people knows that no matter what rates has to be paid, an investigation on mgt fees, perks etc should start. Lots of kick backs from co's as well.
I totally agree with what you are saying mate. Its absolutely outrageous. I want a full investigation into where all the extra money is going. We were promised new efficiencies and rate decreases with the new super city not exorbitant increases !!!!!! After many years of rate increases at significantly faster than the rate of inflation they now think they're doing us a favour with rate increases of about 4% for residential ratepayers when inflation is less than 1%.
What planet are these self serving so called "public servants" on ???????
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Originally Posted by KW
I've been following the mrmoneymustache blog and he reckons a 4% drawdown of capital is what you should aim for. So pare your expenses back to the minimum you need and work from there. If you are mortgage free, single with no kids to support, then $40k might be all you need to spend on bills and frivolities, so $1 mil is enough. I find that as I have most of everything I need these days, I have been giving myself a pay cut each year. So I'm living on about $24k a year plus whatever I choose to spend on overseas holidays, car purchase, new computer, renovations etc (which are not purchased every year so easy to budget for).
If you are not working you save so much money. You dont need to spend money on transport, nice clothes and shoes (last clothes purchase was $15 track pants from Farmers, although I might soon need to replace my jandals), takeaway lunches and coffees, after work drinks at the pub ....
Totally agree. Isn't it ironic that people on wages and salary can spend a considerable sum of money each week, (especially if you live in a major city with commuting and parking costs), specifically for the purpose of earning income and yet those expenses are not tax deductible from one's salaried income ?
I can totally relate to where you're coming from but I suspect many people want to experience some real luxury and extravagance for themselves which is perfectly understandable. I guess the danger in setting a high capital accumulation goal is that one can potentially become inclined towards a myopic fixated vision of attaining same to the potential detriment of living a happy balanced life or paradox-ably give up and splurge on unnecessary junk through discontent at the lack of progress. Maybe setting a realistic goal that allows a more balanced approach to life is the optimum path, I guess that's the nub of what's I'm suggesting. An old accountant once said to me its about finding the right balance to life. Work, rest, play, financial freedom, family, friends, hobbies, community, time for God....not necessarily in that order  He seemed pretty contented to me and lived to an old age in a lovely home by the sea.
Last edited by Beagle; 27-01-2015 at 03:03 PM.
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Or....you could have 20 hours of free time and the Mercedes  Sounds good KW but I sense unless you get a challenge boredom could be around the corner for you ?
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Well after successfully wasting most of the day LOL I'd better do an hour's real work before knocking off...the Merc needs a service soon
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Originally Posted by gv1
The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.
Yeah, I just can't understand the rates increases as house values have increased, on top of that council increases rates by 5-6 %. Whereas all the money going. Whenever I ring them, I get shocking results. My old council was heaps better. Everyone is just fed up with this, just last night one of my relatives was asking me if the whole one city thing can be reversed. Its the consultants and mgt milking all the rates money. These people knows that no matter what rates has to be paid, an investigation on mgt fees, perks etc should start. Lots of kick backs from co's as well.
Do you think maybe some day we will actually hear from someone who likes having the Super city?
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Last edited by skid; 27-01-2015 at 04:35 PM.
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Originally Posted by Roger
Well after successfully wasting most of the day LOL I'd better do an hour's real work before knocking off...the Merc needs a service soon
Wait till you find out the price of spare parts......
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Originally Posted by skid
Wait till you find out the price of spare parts......
Yeah, some silly idiot driving it busted a taillight last year, (opps did I really say that out loud), just as well it wasn't the Mrs then I would have been really filthy
Last edited by Beagle; 27-01-2015 at 05:06 PM.
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