The forums are being retired.
After many years of great discussion, we've switched off new topics and replies. Every thread stays right here though, so you can still browse and search the whole archive any time.
For up-to-date chat with fellow investors, come join us on Facebook:
What would other investors suggest l do with my situation (below); I’m planning on seeing a fin adviser; (suggestions for a fin adviser?).
Quick snapshot :
Male, no dependants, single aged 55 (next bday), healthy, active lifestyle, working PT Sal $35K p/a zero income tax (neg gearing). Prefer early retirement .4 investment properties (1x MEL 2X SYD 1x GC) MV $3M
Loans Total $1.238M
PPOR – Syd MV $800,000
HL $356K
Credit cards – $5k zero interest rate
No other loans
Super approx $270K
Savings $90K
No car.Living in Sydney-
This topic was modified 4 years, 6 months ago by
jeeakz7809. -
This topic was modified 4 years, 6 months ago by jeeakz7809.
Hi jeeakz,
Looks like you have put yourself in great shape to sculpt a really good future in your retirement. Well done. Re “what’s next”, I’ll leave that to smarter people than I, but I did want to pop in a question or two so that others might formulate a path that will really suit you.
First, you are talking of retiring – at that time, what kind of income would you want? At least $35k obviously, but are you aiming for more? If so, how much more? $50k? $100k? And I’m talking after Tax of course.
Also, are you happy in your PPOR, or would you consider selling that too and (perhaps) moving elsewhere? I say this, as your PPOR being sold will (likely) be a CGTax-free sale. Thus you could clear $500k or so to pay off other debt (and perhaps making you positive geared?) Of course, that means you could start paying tax, but then that is not such an imposition if your income is way up on $35k, is it? You might also consider moving into one of your IP’s. e.g. Would you like to move to Melbourne or the Gold Coast?
Would you consider selling ALL Ip’s to parlay into other investments (if they prove to be more beneficial to you by doing that)? Would you prefer to be completely mortgage free? That is an option for you as I see it, yet still able to bring in a very nice yearly income. All because of what you have done so far.
Let’s see what others make of this once you come up with a few more answers.
Benny
-
This topic was modified 4 years, 6 months ago by
