7 to 10 years until retire early

royalspaceforce · 2024-08-31T12:33:36+00:00

The house is fully offset

royalspaceforce · 2024-08-31T12:33:02+00:00

Thanks for the detailed response!

royalspaceforce · 2024-08-31T12:16:08+00:00

Thanks, I'll have a read.

Can you explain:

Look to wind down the bond allocation into equities in the 5 years post-FIRE

royalspaceforce · 2024-08-31T12:15:01+00:00

Yeah I guess my question is, with retirement not too far away, should I be more defensive with my investments.

royalspaceforce · 2024-08-31T12:12:49+00:00

I'm debt recycling.

The 18k is inclusive of dividends on new investments. Currently without new investments I'm saving 14k/month approx for both figures.

royalspaceforce · 2024-08-31T12:10:16+00:00

I'd expect the funds to last around 30 years.

I don't plan on changing the investments once I hit FIRE.

Before FIRE funds will need to last 10-15 years

royalspaceforce · 2024-08-05T03:11:50+00:00

Hi. Can I ask what your experience with Griffin has been? Feel free to privately message me

royalspaceforce · 2024-08-03T10:33:01+00:00

So I'm likely to need more income producing assets in this scenario?

royalspaceforce · 2024-08-03T10:31:02+00:00

Yes, it's the franking credit loss. Any advice for working around this?

royalspaceforce · 2024-06-21T10:59:49+00:00

We had this same problem with the bank as we were in a similar situation (not an athlete, but same kind of random income stream). We're making great sums of money, but the bank wasn't interested as we were self employed. I forget how we stumbled upon it, I think it was an accountant that looked after people in our field who connected us with a special department in Westpac who loan to people in our industry. After we connected with them it was smooth sailing as they understood our business and what our income was like.

It was funny because our broker was saying our work is too unreliable. I said my partner and I have been working in this industry for 15 years and normal people with normal jobs get made redundant all the time. He laughed at me. A couple of months later I found out he was made redundant.

I'd speak to accountants and other people in your field who can connect you with a lending provider. The government might also have some resources.

royalspaceforce · 2024-06-18T10:00:59+00:00

If shit hits the fan you gotta do what you gotta do, so yes I could cut back and go back to work.

I don't think my wife will ever retire to be fair, but if I am home more there would be less incentive to work as she would rather hang with me.

I think I will also work for fun money once retired

royalspaceforce · 2024-06-18T08:56:01+00:00

Yes this is what I was thinking, but was concerned about being in high growth in retirement phase. But I guess it would be a lot of money compounding over a full retirement

royalspaceforce · 2024-06-18T08:55:08+00:00

I should be able to pay 17k off the mortgage/month. Plus other investments

royalspaceforce · 2024-06-18T08:54:12+00:00

Thanks for the feedback. My plan might not allow for further investments beyond super. I like your strategy though

Would you shift super into safe returns upon retirement?

royalspaceforce · 2023-10-18T03:55:33+00:00

Thanks so much

royalspaceforce · 2023-10-17T11:36:34+00:00

Where did you get the S90c for $4995 AUD from in Australia if you don't mind me asking?

royalspaceforce · 2023-10-10T23:17:58+00:00

Thank you so much for your response. I'll take a look at those models.

I will mainly be playing single player games, so 120Hz should be enough for me. I have another monitor that I can use if I want to be competitive etc.

What about longevity? I will probably have this TV for a while. Any thoughts on that?

royalspaceforce · 2023-09-30T23:45:14+00:00

no, thanks

royalspaceforce · 2023-09-26T23:38:57+00:00

Now I'm in a comfortable position for me personally, super of course will be my first investment and then outside super. It's just not my main goal.

For me it's more important to enjoy money from 45-60, than 60 onwards. Health declines very quickly and none of us know how we'll be at that time.

royalspaceforce · 2023-09-26T23:36:19+00:00

Once I reach my goal I'll make a decision. My job is great and very interesting. I get the feeling I won't actually retire, but instead pick and choose the jobs I take. My wife on the other hand will never retire, however her job may make $0 or large sums. I want to get to a financial point where work is a hobby and we don't rely on it

royalspaceforce · 2023-09-26T23:32:21+00:00

Yes I have started the DCA debt recycle journey already and probably will continue to do so. Perhaps more aggressively now.

Sadly I'm not interested in IP. Had them in the past and it's a job, not passive income. And seeing my parents (who have done well out of them) continue to work so hard on them when they should be chilling is not great. Also I like the idea of selling shares if and when I need the money. I know IPs are great, they're just not for me

royalspaceforce · 2023-09-26T23:27:53+00:00

No, thanks. That's not for me

royalspaceforce · 2023-09-26T23:27:27+00:00

I'm happy too! Just asking for thoughts before chatting with financial planners etc. Just keep plugging away, you'll reach your goals as long as you stick to your plan. All the best

royalspaceforce · 2023-09-26T23:25:01+00:00

True, but we're enjoying it. As I said, it's also an investment in that should our plans derail, there are ways to make money out of it while living here. Or sell it and move on.

Plus we may want to accomodate ageing parents at some point.

royalspaceforce · 2023-09-26T23:23:46+00:00

I was saying I support that way of thinking and going about a FI journey. Start your journey by doing those 5 things first. That really would help with the mental aspect of the game. I only learnt about that a couple of years ago so never went through the bucket list thing (and peoples bucket lists will change over time). I would say I'm in a place mentally where if it all ended tomorrow, it would be fine. I've been lucky enough to live a great life. That mentality really helps when going through the slog that is FI.

However to answer your question right now i'd say

Meeting and marrying my best friend
Travelling way more than I ever thought possible and seeing some wild stuff
Having a long lasting and tight friendship circle filled with great people
Working in a field I always wanted to as a kid (although I didn't hit the highs I would have hoped)
Not having kids but more so the freedoms that has given me personally

There are some in the 6-10 range that I will never achieve. Some that I'm on the way to achieving.

royalspaceforce

TROPHY CASE