All Topics / General Property / WealthScore…. How Did You Go?

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Viewing 20 posts - 121 through 140 (of 141 total)
  • Profile photo of DWolfeDWolfe
    Participant
    @dwolfe
    Join Date: 2009
    Post Count: 1,253

    Hi all,

    485.

    Need to get cracking, I can only afford to live for a year! Be nice to come back this time next year and have that score be HEAPS higher.

    D

    DWolfe | www.homestagers.com.au
    http://www.homestagers.com.au
    Email Me

    Profile photo of nutanuta
    Member
    @nuta
    Join Date: 2009
    Post Count: 11

    I got 2175 & I haven't even added up all my jewellery correctly. I am 36 so hopefully it will only improve.

    Thanks for this. It has been fun. Now I'm gonna get competitive & try to increase my score!

    Profile photo of slipperslipper
    Member
    @slipper
    Join Date: 2009
    Post Count: 19

    Over 1000.
      I think having PPOR paid off and only debt (other than for IPs) is the current 4K on the card we clear each month (prior to interest charges).

    Profile photo of redwards26redwards26
    Member
    @redwards26
    Join Date: 2010
    Post Count: 6

    Scored 123 and although I havent any debt I dont have any investments either. I really want to buy an investment property but all the research I've done leads me to believe I should just keep saving more of a deposit.
    I have saved $10,000 and would really appreciate any feedback as to where to begin.
    I am not entitled to the first home buyers grant.
    Kind regards R

    Profile photo of sonyasalsonyasal
    Member
    @sonyasal
    Join Date: 2008
    Post Count: 421

    I scored in the negatives, which surprised me given that i have four (really five, one set of flats) investment properties no personal loans, credit card paid off in full each month and a PPOR that i have 50% equity in. here i was thinking that i was doing okay. maybe i will just ignore this score and continue on my merry way.

    Profile photo of kattimakattima
    Member
    @kattima
    Join Date: 2010
    Post Count: 15

    WealthScore is easy to complete. It should take you about five minutes to work through. Of course, the quality of the information you input will determine the usefulness of your WealthScore.

    Profile photo of PC_MelbournePC_Melbourne
    Member
    @pc_melbourne
    Join Date: 2010
    Post Count: 43

    3321. I guess thats quite good.
    Don’t believe it in the slightest though. With that much liquidity, i’m sure we would spend stupidly and squander it in a few years

    Profile photo of LifestyleDestinyLifestyleDestiny
    Participant
    @lifestyledestiny
    Join Date: 2010
    Post Count: 15

    I got 1315 which is quite surprising. I don't feel as if I'm doing that well.

    Profile photo of cuteyoungchiccuteyoungchic
    Participant
    @cuteyoungchic
    Join Date: 2010
    Post Count: 66

    Wow! 3491. That was worth all the grind & the going without over the last 20 years!
    So that’s my benchmark. I wonder what I can achieve in the next 20 years, but I’ll start with this next 12 months first……. :)
    Thankyou so much Steve McKnight, for sharing your experiences with us & giving us the benefits of your knowledge and wisdom, on which to build our own. You’re a champ!
    Cheers,
    Liz

    Profile photo of NickSifniotisNickSifniotis
    Member
    @nicksifniotis
    Join Date: 2004
    Post Count: 5

    Oh dear oh dear.

    -800

    That's not a good position to be in. I want to learn how to turn that negative around.

    Reading the posts above Steve talks about using debt to fund lifestyle .. that was me in a nutshell.

    Profile photo of PaulliePaullie
    Member
    @paullie
    Join Date: 2009
    Post Count: 217

    148

    Gotta get that a lot higher.

    I've got to start looking at my super as well.

    Profile photo of jaiterryjaiterry
    Participant
    @jaiterry
    Join Date: 2011
    Post Count: 13

    My score was -322 but when I calculated it per the caption ( [Investment assets – Personal Debt] / Salary ) it comes out at -1.28?? Am I missing something that the real calculation isn’t that simple?

    I know the message is the same (i.e. start obtaining investment assets to fund your lifestyle) but I’m a little disappointed in the way they message seems to be mis-represented. Big fan of 0 to 260+, not a big fan of the wealthscore tool.

    Profile photo of Matt4Matt4
    Member
    @matt4
    Join Date: 2003
    Post Count: 15

    Doesn’t the calculation imply you need every cent of your current income to survive? ie, assumes you aren’t saving any of it

    I could double my wealthscore by taking a job that paid half as much as my current one

    Profile photo of vendoradvocacyvendoradvocacy
    Member
    @vendoradvocacy
    Join Date: 2012
    Post Count: 2
    Profile photo of PaulliePaullie
    Member
    @paullie
    Join Date: 2009
    Post Count: 217

    259

    Jumped 110 points in a bit over a year. Once my development is complete that will jump right up again.

    Although, my income is quite high, i dont think id need that much to suvive comfortably.

    Profile photo of Chris30Chris30
    Participant
    @chris30
    Join Date: 2012
    Post Count: 1

    I just did it and got 9100. Not bragging but have been a careful and diligent investor for many years.. There is no such thing a genuine get rich quick scheme, except maybe for the dodgy promoters of such things who profit from the gullible and desperate. By applying the rule of ‘Consistent Persistency’ you can achieve your financial goals. Save and invest the savings. Use leverage to gain a slice of increasingly bigger pies. Start small but start, otherwise you will get nowhere. Good luck.. BTW I am doing the course as I realized at the recent seminar in Melbourne that there was so much more to learn and do.

    Profile photo of KeyStrategiesKeyStrategies
    Member
    @keystrategies
    Join Date: 2011
    Post Count: 155

    Happy to report that I am right to live thru until 2034 on my current position and I am only just putting in place my 10 year plan leading up to retirement. My goal is to leave a legacy for 3 generations to follow as well as beginning able to look after myself and It appears I am on track to doing just that.

    Profile photo of landt64landt64
    Participant
    @landt64
    Join Date: 2004
    Post Count: 166
    KeyStrategies wrote:
    Happy to report that I am right to live thru until 2034 on my current position and I am only just putting in place my 10 year plan leading up to retirement. My goal is to leave a legacy for 3 generations to follow as well as beginning able to look after myself and It appears I am on track to doing just that.

    Hi Michael,
    on a bit of a different topic I’m interested in how you came up with your 10 year plan for retirement. Is it something you developed yourself or did you go to a financial advisor. My husband and I are both 48 and realise we have to seriously have a plan to put in place but aren’t sure how to start.
    Trish

    Profile photo of jnbjnb
    Member
    @jnb
    Join Date: 2012
    Post Count: 29

    phew. initially i filled the price of my own home in the PPOR section and my score -609 but then i remember we have rented it out and reentered the info and our score is 294 :) thank you steve this is such an eye opener. I don’t think i will ever move back into our PPOR :0

    Profile photo of KeyStrategiesKeyStrategies
    Member
    @keystrategies
    Join Date: 2011
    Post Count: 155
    landt64 wrote:
    KeyStrategies wrote:
    Happy to report that I am right to live thru until 2034 on my current position and I am only just putting in place my 10 year plan leading up to retirement. My goal is to leave a legacy for 3 generations to follow as well as beginning able to look after myself and It appears I am on track to doing just that.

    Hi Michael, on a bit of a different topic I'm interested in how you came up with your 10 year plan for retirement. Is it something you developed yourself or did you go to a financial advisor. My husband and I are both 48 and realise we have to seriously have a plan to put in place but aren't sure how to start. Trish

    Hi Trish,

    It is something I have put together over the years – I had a 5 year plan that I stuck to for over 5 years and it worked well – I decided to change it to a 10 year plan. Its a list of financial goals to be achieved over time broken down so it can be monitored – I have all my expenses and income listed into a spreadsheet. I have been toying with the idea of teaching people how to do it after speaking at the Mega Conference – Would that be something you might be interested in learning about ?

    If you want to start I suggest you work out and list all your expenses and put them in a spreadsheet month by month – That helps you see when your bills are due and your high and low expense months.

    Being aware of what expenses you have will give you a starting point from which to work.

    Cheers

Viewing 20 posts - 121 through 140 (of 141 total)

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