- hawthornMember@hawthornJoin Date: 2008Post Count: 3
I'm only 28 and started investing 4 years a go i now own 4 properties and scored 1347 i think i might semi retire what do you think steve?andrew dwyerParticipant@andrew-dwyerJoin Date: 2007Post Count: 21
Does the property portfolio column include your home? or just your investment properties?eldredniMember@eldredniJoin Date: 2008Post Count: 31
I happy 479 i am above average. Have a big next 18 months planned.aussiesquidParticipant@aussiesquidJoin Date: 2008Post Count: 4
Excellent eye opener to those beginning or like me just beginning to see the light.
There is an intelligent way to invest and there is the other way!!
Starting on the intelligent way now!! Yahoo!!!MrUniqueNameMember@mruniquenameJoin Date: 2008Post Count: 25
I really need to start working on my investments!!! Bring on 2009LornaPMember@lornapJoin Date: 2009Post Count: 1
Well that was an interesting exercise!!! I did the test twice. First I entered our home as listed, with the corresponding debt that goes with it, completed the rest etc, and got a score of 17!! Damn. Then I redid the test, and because we are living overseas and have the house rented, I put it in the property investment section, with the other properties. New score: 965!!!! Very interesting, and I'm sure there's some sort of lesson there. Thanks for the thought provoking exercise (Crikey – this is my first time in the forums – love the emoticons!!! )howardcmMember@howardcmJoin Date: 2008Post Count: 65
-1157 haha hrmmm a long way to go!GrantH_1974Member@granth_1974Join Date: 2004Post Count: 190
Having formally studied financial planning, I would have to say the wealth score doesn't really add any value to my wealth creation and retirement planning strategies. But then neither do any of the risk profiles that most planners use. Good to hear other people find it useful.
Paultess85Member@tess85Join Date: 2007Post Count: 48tess85 wrote:(long-time lurker but first-time poster…)
scored 428, pretty happy considering my age (22). Mind you, when I use my hard earned deposit to buy my first house, I'll probably be in the negative.. eek!
2 years later, at age 24, I scored 1201
Feedback: Wealthscore is a useful tool to keep track of my progress, but I don't agree with the results of the calculation that say as salary goes up, wealthscore decreases. Personally when my salary goes up 10 or 15% my expenditure stays exactly the same (I am a very diligent saver), so if anything, my wealthscore should go up, not down, when I get a payrise!ClaireeParticipant@claireeJoin Date: 2009Post Count: 38
160…….. Certainly a bit of work to do, but we are onto it, wanting to increase our investments in the coming months. Enjoying reading the various threads and gleaning information.
ShowardcmMember@howardcmJoin Date: 2008Post Count: 65
Hopefully an infinite amount in the next 13 years…goal of retiring at 35!ArbinterParticipant@arbinterJoin Date: 2009Post Count: 2
First did it, with HECS debt in… -24.
Took that out: 132.
Now I've only been working full time for a year, I'm 24 and did a heap of tertiary study. I suspect that the HECS influence on the score is misleading due to the fact that I don't intend on paying that off outright. 'interest free' esentially.
A useful tool nonetheless – good to see how it all works. It's time to utilise that cash to better means. Need to start sometime, and the best time is always now.zimbyMember@zimbyJoin Date: 2009Post Count: 40
135, oh well could be worsebeckeParticipant@beckeJoin Date: 2009Post Count: 2
Damn a Negative score…
I'm having difficulty getting my head around how on earth to get that score into the +'s with a homeloan – even though we're paying an extra $500pw on the mortgage.
Need to start looking at how to put that $500pw to better use I guess!
Happy for any advice!Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
First bit of advice would be dont put it into your mortgage put it into an offset account.
Even reading your comment about salary sacrificing you can still get around this by not adding more than you need to.
Also you would only salary sacrifice the interest and not the Principal so the debt balance would remain constant.YoungInvestorParticipant@younginvestorJoin Date: 2003Post Count: 377
How easy is it to salary sacrifice for property loan repayments? Would most employers do this, or is it more relevant to the self employed and business owners?
YIbenc10Participant@benc10Join Date: 2009Post Count: 13
I got a score of -304 very scary im a professional sports person employment by contracts I have 2 investment properties returning 6.2% and 5.5% that are interest only loans and mortgage of over 300k on valua of 520k i am looking to accelerate my earnings and investment property purchasing what can I doChizParticipant@chizJoin Date: 2008Post Count: 70
I got minus 50. Is that good?
(Dang. I know its not!)SripalMember@sripalJoin Date: 2010Post Count: 1
-941, well paid job two IP's thought we were doing ok.
Help urgently required!