Thinking about the above . We are all different in our needs -But we all want,in retirement choices. Health, security, happiness and lifestyle.? My own goals, health, and happiness are all under control . The goals- If I am required to go into a nursing home or retirement village (hope NOT) My home will provide the best money can purchase. Day-to-day lifestyle, I budget/plan in 5-year cycles, and yearly income needs growth of super/investments. The 65 to 70-year cycle I am in now is much the same as previous terms since I retired (as I said before still in an industry I can invest in ) At 70 years of age, I have planned to live off my super-fund and share portfolio. If need be . Gizzi pay attention, please! I have a figure in mind of what the capital figure will be -I deduct each year the amount I require to live on then add to that capital 4% P/A growth and work my way down through the years -to see how long it will last -also adding each year CPI %s to my annual drawdown . I then also add my share portfolio to the annual drawdown and will take out the annual dividends each year if needed. But preserving the capital. As a safety net a commercial property remains intact and grows in value. For others it's not as simple there are partners/wives/children and grandchildren some will live off investment properties and need to be aware of land-tax GRAB! Others might be more conservative in living or more spend-free or wish to spend capital on items -Some of us will live to old age (both my parents 89 plus) Others will have shorter lives due to family history and will spend more. Whatever direction one goes -allow for quality in your final years -And that does not mean leaving an estate to others to spend on the following. Speed boats Harley -Davidson bikes Jet Skis V8 Utes Falcon Gts Trips to Bali Mobile homes and Landcruisers Caravans 18 year old whisky Michelin 5 star dining LV bags ect ect
I could sell all my properties, invest that money, live off the return and retire at now 43 years old if I wanted to, been thinking about it on and off lately..........
To early . But you should leave that **** hole Mt Isa ,move to a decent area and set up your own shop and just pick the work you want to keep an interest and preserve capital
Agree, I will definitely be out of here once the Mrs and kids settle in Mackay. We will see what happens after that.
Huh! Imagine sitting around bludging for the next 40 years? Or have I peaked too soon? A 40 year bludge sounds good to me! "I've done my time maaaaaaaaaaaaaaan"! I've just worked 14 straight night shifts, 15 hr days. About to work 6 day shifts, still 15 hr days when you're the boss, then have 6 days over in Mackay seeing the Wife and kids, then straight back into 7 nights, ahem......15 hr days. (12hr drive each way to Mackay! Urrghhhhh) Then back to my normal extra shifts after that. "I've done my time maaaaaaaaaaaaaaaaaaaaaaaaaaaan"! Ready to retire and enjoy the fruits of my labour.
Trust me, I wish I could move there tomorrow but my pea brain Wife started a new job in Mackay paying $74K pa less than the job she had here. That's why Pappy has been and will be working himself to death to make up the difference while she's living in fantasy land. So until she finds a better paying, close to what she was earning here I won't be going anywhere unfortunately. There are jobs there in Mackay paying near same money as she was on here, but she wants to try her hand at something else which involves earning chicken feed. It will work out in the end, may take a few years but she will be right. But I don't want to be caught with my pants down, so I will stay here as long as it takes to make 100% sure we will be right before I move over.
Following Covid, I got drawn into helping at the local meals on wheels. What I see are a lot of wealthy old people sitting alone in huge houses, surrounded by a lifetime of 'treasures' (most of which will go in the skip the day after the funeral), whose kids are interstate, overseas or just not interested. Many are immobilsed one way or another (hint - Keep walking and use the stairs!) and meals on wheels is their best option for food... They are lucky that Coolum has a proper chef and they are proper fresh food meals delivered straight from the oven. I bet most of these are the ones who scrimped and saved for a 'luxury retirement' ...
