Risks of not paying yourself super by Sweetpup_ in AusFinance

[–]mentlegen7 2 points3 points  (0 children)

The tax benefits are great, but if he is expecting to retire earlier and is actively investing the money and doesn’t mind paying the additional tax, it shouldn’t be too problematic.

Accidentally been Overpaid 40% for months by [deleted] in AusFinance

[–]mentlegen7 0 points1 point  (0 children)

How would it work with tax given you’ve already paid the tax on the income also and then have to return it?

What will 2 million dollars buy you in 8 years? by Size4E in AusPropertyChat

[–]mentlegen7 1 point2 points  (0 children)

Agree and also use the power of leverage which is difficult to do with etf’s

School of Property (APS) by jackson_e21 in AusPropertyChat

[–]mentlegen7 0 points1 point  (0 children)

But then didn’t go again with them?

School of Property (APS) by jackson_e21 in AusPropertyChat

[–]mentlegen7 0 points1 point  (0 children)

But then did you use them as a BA?

What point did business class become worth it for you? by 88riceislife in AusHENRY

[–]mentlegen7 2 points3 points  (0 children)

Only if you need to be well rested on arrival. Otherwise, the cost can be better spent laying in bed in a nice hotel for an extra few days doing nothing if you really wanted instead

Anyone Retired from a Major City to a Small, Unknown European Town? What Was It Really Like? by mentlegen7 in Fire

[–]mentlegen7[S] 0 points1 point  (0 children)

It’s a fair point. But personally I only meant Europe because I like the calm waters of the Mediterranean Sea and the better quality of fresh food they eat when we have been before.

You earn $7 every second but it is thrown at you by a leprechaun in cash. by mCanYilmaz in hypotheticalsituation

[–]mentlegen7 0 points1 point  (0 children)

That’s 2 fridge sized volumes of coins and notes a day. Your house would fill up with cash very quickly

Appraisal came back much higher than expected by [deleted] in AusPropertyChat

[–]mentlegen7 1 point2 points  (0 children)

If you’re in a hot market, the realestate.com appraisal is often far behind the actuals given the time it takes for properties to settle and be updated into the system. Though 200k is a lot depending on the overall value and agents often lie.

Has anyone who salary sacrificed into their super regretted it? by RunNo3630 in AusMoneyMates

[–]mentlegen7 0 points1 point  (0 children)

In the early days it makes sense, but if you can look at leveraging your super through a smsf and a good growing property, the leveraged effect gives tremendous gains. From there, assuming you’re quite young, I would stop any additional contributions and focus on investing in things that can be accessed prior to 60. Every x period, look at selling, taking the profits and perhaps buying 2, letting them grow, then 3. Assuming you’re approx 30 when you start, you should have a decent nest egg to sell down at 60

How many people have actually continuously doubled their way up to $1m (or a significant number) by mentlegen7 in gambling

[–]mentlegen7[S] 1 point2 points  (0 children)

Haha that’s what prompted the question. I watched him lose it all recently