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PSB'ers +50 years old ... How many $$ do you need?

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  • PSB'ers +50 years old ... How many $$ do you need?

    I'd be interested in peoples ideas as to how much you need in your savings/investment/super accounts to step out of the professional salaried slave rat race at about 55-57.

    So the question is:

    If you have no debt and the house/cars/bikes all paid off, what do you think your investment portfolio should be worth to stop working for "the man"

    Consider that some income would be earnt doing a bit of ad hoc consulting/training work.

    I did the "How long am I going to live" test at findyourfate.com ... the Grimreaper comes to get me on the 16th March 2042 ... that'll make me 87!

    Scott
    I'll be riding for you #52, my dear son, Cameron Taylor Elliott 1985-2009
    2008 CBR600RR and 2010 GSXR750 Track Bikes, KTM530EXC Enduro bike wrist breaker

  • #2
    50-57?

    thats too early to be thinking of kicking back!


    Straightline2ten your motorcycle and motor car repairer for smash repairs

    insurance or private work, plastic welding,resprays, restoration and classics

    dianella 93703770

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    • #3
      1m

      i'll join you soon
      q
      bevel drive, belt drive, desmoquattro, testastretta, desmosedici....an evolution
      -> Triumph 675, a revolution and obsession
      __________________________________________________ _________________________

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      • #4
        Something I have been avoiding, thanks!!!!
        I have had 2 plans before and threw them both out the window as life had major upheavals.
        I will try and ignore this question for a bit longer, ta.
        I live in my own little world, but it's OK they know me here

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        • #5
          .. mate of mine is working on $100k p.a. passive income from investments
          .. and thats Racer # 193 to y'all; my fabulous sponsors (who all do good shit) are: Graeme Fleming IT Consultants, Vision Image, Pacific Safety Wear, Excess Power Equipment, Pro Photo Booth

          .. and according to Sean'o: 'get the Kwaka (never thought i would say that!)'

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          • #6
            Originally posted by smeghead View Post
            .. mate of mine is working on $100k p.a. passive income from investments
            ok ... so you would probably need about $1.5M of capital to generate 30 years of that income?

            Scott
            I'll be riding for you #52, my dear son, Cameron Taylor Elliott 1985-2009
            2008 CBR600RR and 2010 GSXR750 Track Bikes, KTM530EXC Enduro bike wrist breaker

            Comment


            • #7
              .. as he is looking primarily at property I think he said $5M+, if he changed to a mixed portfolio he could prob get a better return but then his risk would be greater; also important to have the correct mix of property, some for capital growth & some for income. This also assumes that he isn't going to consume his assets as he gets older which would also affect the portfolio size.
              .. and thats Racer # 193 to y'all; my fabulous sponsors (who all do good shit) are: Graeme Fleming IT Consultants, Vision Image, Pacific Safety Wear, Excess Power Equipment, Pro Photo Booth

              .. and according to Sean'o: 'get the Kwaka (never thought i would say that!)'

              Comment


              • #8
                retirement is for softies, go Hard or move into a gestapo led retirement waiting station for the grim reaper final run.
                Get a new bike, a new girlfriend and go MAD!

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                • #9
                  AAhhh retirement. Probably keep working part time (40 hours a week). You will need at least $1.5 mill as the health system gets more overloaded and costs are put back onto a user pays system, public servants retire on their pensions that will come from consolidated revenue (taxes) and population growth dwindles.
                  They hung a sign up in our town "If you live it up, you won't live it down"-Tom Waits

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                  • #10
                    Originally posted by potato View Post
                    50-57?

                    thats too early to be thinking of kicking back!
                    No way! I'm looking at retirement and I'm thirty.

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                    • #11
                      Joking aside - I reckon my generation will be the first no-retirement group through the system... it isn't legal for an employer to discriminate on the basis of age, compulsory retirement isn't legal anymore; retirement is now optional and will soon be a thing of the past - except on the basis of health-failure - which will just be treated as sickness.

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                      • #12
                        Originally posted by The Faz View Post
                        No way! I'm looking at retirement and I'm thirty.
                        +1 ....no such thing as "too early" to retire!

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                        • #13
                          10m NA - 1 in Super .... the rest in accessible funds/property/shares

                          55 - 57 .... bullllshhhhhiiiiiiiiiiiiiiiiiiiit

                          40
                          Some say he eats sidchrome for breakfast

                          Some say he only showers on even days of the week

                          Some say he put an R1 motor in a coffee machine

                          All we know is he's Hewie.

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                          • #14
                            that'd be nice.

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                            • #15
                              at least a couple of million to be safe.

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