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13-08-2015, 09:49 AM
#181
RBA is recognising inter-generational wealth transfer(theft) through house prices.
http://www.smh.com.au/business/the-e...12-gixong.html
At least Aussies are smart enough to means test Superannuation. While in NZ wealthy superannuitants continue to plunder the public purse for their entitlement while the govt runs a deficit for future generations to repay.
Last edited by Aaron; 13-08-2015 at 10:16 AM.
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30-08-2015, 01:41 PM
#182
I find the how much to retire on question a very interesting one, esp how to forecast what I would need once I retire.
My Parents have just retired, Dad in his mid 70's, mum just turned 65. Sold up the family home in Christchurch and bought a new house in Oxford. Morgage free house worth $550k, and $500k in the bank. There only income now is super x2, small amount of dividends payments and interest on bank deposits.
I would think that, yes this enough now, but I would think once I retire, disposable cash will be even more important.
"Gold is money, everything else is credit"- J.P. Morgan
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30-08-2015, 02:39 PM
#183
Originally Posted by Aaron
RBA is recognising inter-generational wealth transfer(theft) through house prices.
http://www.smh.com.au/business/the-e...12-gixong.html
At least Aussies are smart enough to means test Superannuation. While in NZ wealthy superannuitants continue to plunder the public purse for their entitlement while the govt runs a deficit for future generations to repay.
Now come on Aaron, cool it. Calling me a plunderer hurts my feelings
Your and future generations will work out a way.
Get over it
”When investors are euphoric, they are incapable of recognising euphoria itself “
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30-08-2015, 03:06 PM
#184
Originally Posted by skeet
I find the how much to retire on question a very interesting one, esp how to forecast what I would need once I retire.
My Parents have just retired, Dad in his mid 70's, mum just turned 65. Sold up the family home in Christchurch and bought a new house in Oxford. Morgage free house worth $550k, and $500k in the bank. There only income now is super x2, small amount of dividends payments and interest on bank deposits.
I would think that, yes this enough now, but I would think once I retire, disposable cash will be even more important.
It depends very much on what one would want to spend it on, after providing for what one needs to spend. Potential inflation is the big bogey but at present rates of interest the income from $500k would be a bare minimum - for me. Spells out the importance of keeping a chunk of capital in growth (equity) assets as well as cash in the bank, IMO.
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30-08-2015, 03:36 PM
#185
Originally Posted by winner69
Now come on Aaron, cool it. Calling me a plunderer hurts my feelings
Your and future generations will work out a way.
Get over it
Dear Winner69
I appreciate you noticed my use of emotive language with the word “plunder” rather than the much less emotive “take” or “receive”. I am thinking of a move into mainstream journalism/infotainment.
I can then become a prophet for the younger generations waking them up to the unfairness to what is going on with NZ Super as I am starting to think that the sharetrader website could be the single worst place to try and promote this issue based on the assumed demographics on this site.
I noticed Labour's proposal to raise the retirement age only kicks in in 2030. Do the numbers that is only one year after the last baby boomer retires. They are not even trying to disguise that this is an intergenerational rip-off.
Last edited by Aaron; 30-08-2015 at 04:37 PM.
Reason: Too much dribble
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30-08-2015, 03:43 PM
#186
I might just crack the $500K (not adjusted for inflation) plus a mortgage free(but s***ty) house as long as I continue being miserable. This is just so I won't have to rely on everyone else when I retire.
Although if the next massive bust is underway I might profit better than I did in 2007-2009. Could make a big difference, then I don't have to worry about the public purse so much as I won't be needing anything from it.
Last edited by Aaron; 30-08-2015 at 03:46 PM.
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09-09-2015, 12:33 PM
#187
Originally Posted by winner69
It never stops Roger.
That's why we deserve that 'entitlement' no matter what our means our.
Hopefully if I ever need the kids to look after me they will.
Don't think I could realistically count on mine if their current I want everything now and completely self obsessed and selfish approach to life is anything to judge their future actions by.
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07-10-2015, 11:01 AM
#188
Member
As in per person. Been thinking about this. Myself as one of the many that does the daily grind with a rather generic office occupation. As I don't have a high standard of living, $500k could be enough, at a 7% provides $35k after tax (capital as there are none to the common household investor) and some dividends and interest from the bank and super if that remains. Jobwise to get $35k net requires about $60k gross salary.
But .. I have thought about break this and early retire LOL and do my own stuff. ..
Last edited by rayonline; 07-10-2015 at 11:03 AM.
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07-10-2015, 11:42 AM
#189
Originally Posted by rayonline
at a 7% provides $35k after tax
Is 7% realistic given you have to be reasonably low risk to ensure you dont lose capital. Ironically, the more capital you have, the more risk you can take as you aren't as dependant on maintain the capital to maintain the income.
Originally Posted by KW
I have found that an attitude change towards money and what you think you "need" will dictate your ability to retire early.
The biggest issue with early retirement, from what I can see, is what do you do with your time, and more specifically how much does that cost. If your hobby cost money and you increase it from 2 days a week to 7 days a week, that requires an increase in income. In some ways, having a job stops you from spending money!
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07-10-2015, 12:20 PM
#190
Personal I plan to retire from my labour intensive job once we have a Debt free home and passive net income of $500pw ... but of course I will just replace my labour intensive job with a more lifestyle friendly job and in turn focus more on my sharetrading ... I don't ever plan to retire completely ..
Goal is before my 40th ... only few more years to go ,..
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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