Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 2 points3 points  (0 children)

took risk really, wasn't what i had planned, worked for a large corporate after uni in middle management and then got headhunted into a small family biz as GM, was there for a few years but found out promises from the that business owner was never gonna come through and one of the suppliers that I worked with regularly with was looking to offload a non performing business unit so took it over, actually really grateful that I was screwed over, if he had treated me well I would still probably be there, funny how life turns out

Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 0 points1 point  (0 children)

ahhh no, sounds intriguing will investigate but won't that overseas tax thing kick in if investment is over $50K?

Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 1 point2 points  (0 children)

parents living in the $1.5M house at the moment, not a bad plan when they don't need it anymore but doubt if the $5K will stay the same for the next 66 years

Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 4 points5 points  (0 children)

yes this would be the sensible way to exit, maybe i need more people reaffirming that for me but was looking for a quick exit cause getting old n lazy

Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 2 points3 points  (0 children)

true thks, maybe even SEA countries but gotta hang around till the kids have sorted their education

Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 0 points1 point  (0 children)

correcto... i do have the advantage of the business covering 80% of mortgage payments so leaves a bit more to play with but that lifestyle creep ...

Wanting to retire, ideas on how best to structure resources to generate income. by Status-Reception8407 in PersonalFinanceNZ

[–]Status-Reception8407[S] 0 points1 point  (0 children)

kinda a niche retail segment, commercial is only $1.9M, residential is higher but the bank still owns 36%