All Topics / General Property / As a general rule of thumb….

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  • Profile photo of kat13kat13
    Participant
    @kat13
    Join Date: 2012
    Post Count: 44

    Assuming I get my arse into gear and delve into purchasing an IP at some point in my lifetime, how many investment properties would I need to comfortably retire on giving myself a decent income as well as ability to pay tax?  I am not talking about multimillion dollar homes or anything close to that but homes decent enough to bring in a $300-400 a week rent. 

    Profile photo of NHGNHG
    Member
    @nhg
    Join Date: 2010
    Post Count: 198

    Depends on your lifestyle…

    I’ve heard of people retiring on $20k per year overseas.

    Others like their Armani suits and Christian Louboutin shoes.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    There's no rule of thumb.

    You need to work backwards.

    Work out how much YOU would need to live off and then devise a plan from that.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DanielleDanielle
    Participant
    @dgirl
    Join Date: 2012
    Post Count: 43
    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    What do you think you need for retirement? Is it more or less than your current income?

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi Kat,

    Assuming your $300/week is net of all costs that will give you $15K/annum less tax.

    So if you wanted an income of $90K/annum (before tax) then you'll need six properties.

Viewing 6 posts - 1 through 6 (of 6 total)

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