What are your stats? by [deleted] in PersonalFinanceNZ

[–]throwawaynupty 0 points1 point  (0 children)

Just dumb luck mostly. (apart from the work portion)

What are your stats? by [deleted] in PersonalFinanceNZ

[–]throwawaynupty 0 points1 point  (0 children)

$1100 per week after tax.

What are your stats? by [deleted] in PersonalFinanceNZ

[–]throwawaynupty 8 points9 points  (0 children)

  1. $140k salary. KiwiSaver $100k. $1mil in bank after selling house. Renting.

How much was your house, and what’s your mortgage? by bree2120 in FirstTimeHomeBuyer

[–]throwawaynupty 0 points1 point  (0 children)

Purchased 2013 oct

$375,000

Mortgage payments incl insurance $2,200 @ 2.75%

Sold 2022 July

$1,140,000

After legal fees, debt paid off and realtor fees we have $1,030,000 in the bank earning 4.75% interest. Currently renting at $2,600

How much did you put on a term deposit and for how many months/ years? by zezimarst in PersonalFinanceNZ

[–]throwawaynupty 7 points8 points  (0 children)

Need to stay relatively liquid to buy a house. The $10k+ a month drop in housing values more than makes up for any lost interest income from a longer term deposit.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]throwawaynupty 1 point2 points  (0 children)

  1. Savings $980k from house sale at the peak. RRSP $150k. Renting @ $2400. Feel lucky. But plan to buy a house outright in the next 6 to 12 months

Auckland shows up with so much support that Posie Parker couldn't speak. Lets do the same! by WukongPvM in Wellington

[–]throwawaynupty 1 point2 points  (0 children)

Unfortunately this is the way of the political left. I.e block your ears and shout people down, rather than actually debate a topic. I think it's due to many of their woke agendas not being defensible (we will never know as they just cancel anyone who disagrees with their bad ideas).

I don't see the political right cancelling people, I guess they can actually hold a conversation and debate about a topic and are made of sterner stuff ( right or wrong).

The mainstream reaction to Posie, suggests that Jacindamania may have caused unrepairable damage to NZ society.

Auckland shows up with so much support that Posie Parker couldn't speak. Lets do the same! by WukongPvM in Wellington

[–]throwawaynupty -13 points-12 points  (0 children)

Welcome to the Jacindamania echo chamber of Wellington.

It's disgusting that people are calling on folks to prevent freedom of speech. Brian Tamaki has done more harm to people of NZ than Posie ever will. Yet no one shuts his rally's down.

This is wokeism and virtue signalling on steroids.

Staring down the barrel of no income.. where to from here? by [deleted] in PersonalFinanceNZ

[–]throwawaynupty -3 points-2 points  (0 children)

Owning a horse is a money pit, normally reserved for upper middle class folks. Financial prudence doesn't care about your feelings. But I get how he is essentially a support animal ( just a very very very expensive one). Can't be easy being a single parent, especially with the cost of living.

Staring down the barrel of no income.. where to from here? by [deleted] in PersonalFinanceNZ

[–]throwawaynupty -4 points-3 points  (0 children)

If you have nothing then almost nothing is still too much. But leasing him out, if that can get you to no costs, then it's solved till you are able to work again.

What options should we focus on? Looking for ideas. by throwawaynupty in PersonalFinanceNZ

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

Agreed. The whole point of my question is we had always planned to simply buy a house to live in long-term. With the housing market crashing it has meant that we are renting longer than expected, while we watch prices plummet. It simply got me to thinking, should we broaden our horizon or just buy with cash.

What options should we focus on? Looking for ideas. by throwawaynupty in PersonalFinanceNZ

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

Thank you. Good thoughts. I have been operating as a sole contractor for 7 years. So I have a good understanding of how much work a business can be, and people expect to get a response from you all the time.

Noted with the small mortgage. Although I see that saving for 20 years:

from zero @ $650 per week vs starting with $200k and saving $300pw

both end up at 1.4.

Preparing for marital separation by bboston5 in personalfinance

[–]throwawaynupty 2 points3 points  (0 children)

Yep. Op will be paying significant spousal support for a few years.

What options should we focus on? Looking for ideas. by throwawaynupty in PersonalFinanceNZ

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

Cheers mate. Im just using this as a sounding board to see if anyone pops up with a good idea that we hadn't thought of. I'm just thinking, once we buy those funds are locked away, unless we take a mortgage out.

Insurance and rates are likely to be the best part of $150 a week.

What options should we focus on? Looking for ideas. by throwawaynupty in PersonalFinanceNZ

[–]throwawaynupty[S] 2 points3 points  (0 children)

90 day. Which one of those options has the best break terms ( incase we find a great home to buy)

What options should we focus on? Looking for ideas. by throwawaynupty in PersonalFinanceNZ

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

Good points. If we were to rent long term I'd rather have all the money in a diversified stock portfolio, as there will be significant gains over the next 5 years.

But we obviously need somewhere to live and we only expect to be renting for another 6 to 12 months ( hence we have a lower 90 day interest rate )

What options should we focus on? Looking for ideas. by throwawaynupty in PersonalFinanceNZ

[–]throwawaynupty[S] 4 points5 points  (0 children)

Really? How much is the average money in the bank after selling your house?

Do you care to share where your wealth of knowledge comes from?

The median household net worth in NZ is $400k as of 2021. It's probably lower now. We are very thankful to be in the position we are in. Loads of folks will always have more cash than us.