hi
another aussie here. not on topic per se, but I realised during the week that about 10% of what i spend ends up going to the government. Since i'm not a fan of forfeiting money to the govt, this serves as great motivation not to buy stuff. Also, in Oz unprocessed goods dont attract the GST so one way of knowing you've got a good diet is if you don't pay much/any GST...
Australians check in?
Also, broadly what I've been thinking about, with regards to an Australian PP is:
25% Gold - Perth Mint, easy, plus maybe some non-physical gold, too.
25% shares - I'd probably begin just with ASX 200/500, then expand to, say, some US/Asian shares.
25% cash - Either term deposits, or the 6.5%+ bank accounts (several paying 7% at the moment). Later buying some UDS/Yuan/CHF.
25% bonds - since we don't have 30 years, I'd try to get some around 10-15 years.
The bonds part is still confusing me a bit, it seems to lock me into below average returns (although they are more stable), if I buy a bond, does its price ever rise, or is the 'rise' more a lack of fall in a market downturn??
25% Gold - Perth Mint, easy, plus maybe some non-physical gold, too.
25% shares - I'd probably begin just with ASX 200/500, then expand to, say, some US/Asian shares.
25% cash - Either term deposits, or the 6.5%+ bank accounts (several paying 7% at the moment). Later buying some UDS/Yuan/CHF.
25% bonds - since we don't have 30 years, I'd try to get some around 10-15 years.
The bonds part is still confusing me a bit, it seems to lock me into below average returns (although they are more stable), if I buy a bond, does its price ever rise, or is the 'rise' more a lack of fall in a market downturn??
Hello everyone from oz, I'm still new to the blog, and haven't been able to stop reading since I discovered it a week ago. I have always been frugal because of wanting to be FI as soon as possible, but have no idea at all about investing in shares. Some idea regarding real estate, but even there, not at all enough. I'll be reading your posts and hopefully will be able to educate myself more. Good day to all!
I can't help with the investing side of things, partly because I don't really have to invest and partly because whatever I've done over the years has turned to crap 
Despite that I retired at 45 and hit the road two years later. That was 10 years ago now and as they say, I started with nothing and still have most of it left.
We owned 3 houses, sold them and gave the bank a fair swag of the proceeds. Since then I've worked for 6 months plus made small amounts writing articles an selling the odd photo.
We have a great life and live on bugger-all, most of our time is spent lazing near a river somewhere photographing birds, tweaking my website or designing electronic gadgets. All those hobbies are essentially free.
ERE does work, I did the settle down and get a job thing for roughly 20 years, about 25 less than most people but 10 more than I should have.
If you want to have a sticky beak at the lifestyle have look at
www.robgray.com
We're in WA at present but heading back east, plan to be Canberra way in the new year then back up on our land near Bundaberg after that.
Despite that I retired at 45 and hit the road two years later. That was 10 years ago now and as they say, I started with nothing and still have most of it left.
We owned 3 houses, sold them and gave the bank a fair swag of the proceeds. Since then I've worked for 6 months plus made small amounts writing articles an selling the odd photo.
We have a great life and live on bugger-all, most of our time is spent lazing near a river somewhere photographing birds, tweaking my website or designing electronic gadgets. All those hobbies are essentially free.
ERE does work, I did the settle down and get a job thing for roughly 20 years, about 25 less than most people but 10 more than I should have.
If you want to have a sticky beak at the lifestyle have look at
www.robgray.com
We're in WA at present but heading back east, plan to be Canberra way in the new year then back up on our land near Bundaberg after that.
Chilly - Ubank, Bankwest and Westpac are all worth a look. AFAIK you don't have to be an Australian citizen to get those returns, just desposit some every month.
Otherwise returns are a mere 6%!
Ubank is who I am with, but Westpac has had a long and successful history, I don't know much about BankWest.
http://www.ubank.com.au/ub/web/home
Otherwise returns are a mere 6%!
Ubank is who I am with, but Westpac has had a long and successful history, I don't know much about BankWest.
http://www.ubank.com.au/ub/web/home
@GrayNomad,
*Japanese Bow* and *Applause* Naaaah!
I am going to go all ethnic and give you the *Indian BOW*! Now if you were wondering what that is, then here's a picture of the bow
(And it is the same in Buddhism and Christianity too
)
What a life you have been leading! And your lifestyle, and your life experiences! And the skills you've picked up! And of course, your truck is a marvel!
Impressed! Truly impressed!
Surio!
*Japanese Bow* and *Applause* Naaaah!
I am going to go all ethnic and give you the *Indian BOW*! Now if you were wondering what that is, then here's a picture of the bow
(And it is the same in Buddhism and Christianity too
)What a life you have been leading! And your lifestyle, and your life experiences! And the skills you've picked up! And of course, your truck is a marvel!
Impressed! Truly impressed!
Surio!
Thanks Surio, no need to bow though, just throw money
It's certainly been a good run so far, a few downs but mostly ups.
This sort of lifestyle is pretty easy to achieve in OZ, we just seem to have the right combination of political stability, land area, climate etc to make it work.
Plus we have pensions and health plans provided by the government, there are arguments about the wisdom of not having private health insurance but at least there is a system in place for those that don't. And anecdotal information suggests that sometimes you're better of without insurance.
It's certainly been a good run so far, a few downs but mostly ups.
This sort of lifestyle is pretty easy to achieve in OZ, we just seem to have the right combination of political stability, land area, climate etc to make it work.
Plus we have pensions and health plans provided by the government, there are arguments about the wisdom of not having private health insurance but at least there is a system in place for those that don't. And anecdotal information suggests that sometimes you're better of without insurance.
>Is it "possible" to live on under $6K AUD in Australia?
I think it is IF you own land or a house or a motorhome. In other words somewhere to live that doesn't cost much/anything.
A year or so back I calculated that my wife could live on $2500 I think it was. I was dumbfounded and I still can't believe it so must revisit the figures one day.
But certainly $6k should be doable as long as you have a pastime that doesn't cost, like bushwalking.
I think it is IF you own land or a house or a motorhome. In other words somewhere to live that doesn't cost much/anything.
A year or so back I calculated that my wife could live on $2500 I think it was. I was dumbfounded and I still can't believe it so must revisit the figures one day.
But certainly $6k should be doable as long as you have a pastime that doesn't cost, like bushwalking.
Update:
I said I couldn't believe that amount and I don't know where it came from. So I quickly redid the figures.
Now bear this is for my missus to live on our land in the motorhome, but the motorhome is just used as a house, it's never driven (no rego) and not insured. She eats like a sparrow and is happy just walking around the bush, looking at the birds and reading. All of which cost nothing.
Once a month she'll drive into town (car fuel and rego included) to buy food.
The new figure is $4300.
Now that's still pretty cheap, but here's the kicker. The ONLY real difference between 1 person and 2 people is food. Add my food and the total is $7300.
That's $3650 each a year.
In Australia the single pension is about $14000 and married around $24000 and everybody moans about it. What the hell is their problem?
I admit that if you're elderly and have to rent in a town and/or get lots of medicine that makes a HUGE difference. But as long as you're fit it's very easy to live on bugger all.
I said I couldn't believe that amount and I don't know where it came from. So I quickly redid the figures.
Now bear this is for my missus to live on our land in the motorhome, but the motorhome is just used as a house, it's never driven (no rego) and not insured. She eats like a sparrow and is happy just walking around the bush, looking at the birds and reading. All of which cost nothing.
Once a month she'll drive into town (car fuel and rego included) to buy food.
The new figure is $4300.
Now that's still pretty cheap, but here's the kicker. The ONLY real difference between 1 person and 2 people is food. Add my food and the total is $7300.
That's $3650 each a year.
In Australia the single pension is about $14000 and married around $24000 and everybody moans about it. What the hell is their problem?
I admit that if you're elderly and have to rent in a town and/or get lots of medicine that makes a HUGE difference. But as long as you're fit it's very easy to live on bugger all.
-
webberchoked
- Posts: 36
- Joined: Tue Jan 11, 2011 4:22 am
another person born in australia which makes me australian, although in all honestly i really cant stand living in australia, so i dont but all my assets are still there.
im 28 and retired.
i really dont think australia is a great place to be retiring , its super expensive (unless you live out in the middle of nowhere) relative to most places in the world ive lived in and its a super boring country (for me anyway)
im 28 and retired.
i really dont think australia is a great place to be retiring , its super expensive (unless you live out in the middle of nowhere) relative to most places in the world ive lived in and its a super boring country (for me anyway)
Gotta agree with choked: very expensive and super boring, but good until u reach ERE point, that s why I m here.
Choked, can u please tell us more how did u manage to retire at 28?
U see, often I envy Aussies since I would also be retired now if I were an Aussie myself. It s perfectly managable to save up enough to retire at your age as a graduate professional Aussie. However, I started off pretty late as salaries in my homecountry are terrible and unemployment damn high.
News - RBA decreased their interest rate which caused a drop in savings interest rates. UBank, a previous champion, dropped rate from 6.51% to 6.11%. I m switching to Rabo bank.
Choked, can u please tell us more how did u manage to retire at 28?
U see, often I envy Aussies since I would also be retired now if I were an Aussie myself. It s perfectly managable to save up enough to retire at your age as a graduate professional Aussie. However, I started off pretty late as salaries in my homecountry are terrible and unemployment damn high.
News - RBA decreased their interest rate which caused a drop in savings interest rates. UBank, a previous champion, dropped rate from 6.51% to 6.11%. I m switching to Rabo bank.
-
webberchoked
- Posts: 36
- Joined: Tue Jan 11, 2011 4:22 am
got crazy once in a lifetime lucky to have discovered online poker at the right moment in my late teens. dropped out of uni at 20 to play full time and rode the online poker boom at its height.
no taxes, a strong aud/usd exchange rate, a lack of consumerist mindset, a complete disinterest in having kids or getting married and you have a 28 year old who doesn't need to work again if i don't want to.
in regards to ubank, i have 197k in there and if u move it over for 4 months its only a few hundred dollars difference.
no taxes, a strong aud/usd exchange rate, a lack of consumerist mindset, a complete disinterest in having kids or getting married and you have a 28 year old who doesn't need to work again if i don't want to.
in regards to ubank, i have 197k in there and if u move it over for 4 months its only a few hundred dollars difference.
-
webberchoked
- Posts: 36
- Joined: Tue Jan 11, 2011 4:22 am
i also definitely think a lot of corporate drones have the ability to retire in their 30s.
one of my best mates is a senior manager for pwc, hes on 150k+ a year, wears huge boss suits, buys 10k+ furniture suites, works 60-70 hour weeks. says he loves his job but who the hell could love working those hours week in and week out, especially as an accountant. his sole motivation is making partner and the big $$$ that comes with it. he will need it to with the way he spends his money.
i tell him all the time, the utility of money really decreases after the first few hundred k. for me my lifestyle hasn't changed much even with additional money, i still stay in hostels/cheap hotels when travelling, eat brown rice, meat and veges, wear the same clothes i bought years ago.
one of my best mates is a senior manager for pwc, hes on 150k+ a year, wears huge boss suits, buys 10k+ furniture suites, works 60-70 hour weeks. says he loves his job but who the hell could love working those hours week in and week out, especially as an accountant. his sole motivation is making partner and the big $$$ that comes with it. he will need it to with the way he spends his money.
i tell him all the time, the utility of money really decreases after the first few hundred k. for me my lifestyle hasn't changed much even with additional money, i still stay in hostels/cheap hotels when travelling, eat brown rice, meat and veges, wear the same clothes i bought years ago.