Nerfonomics

[Flow-Rider]

"Building places to store books on walls in the Cayman islands"

Books with pages made of money, apparently.

 

[Nambra]

Investment properties are very difficult to manage these days and it's getting worse by the day. The real estate industry can only do so much to protect your assets as the laws are pretty much in favour of the tenants these days, most of them put themselves first in any case so you still have to waste your own time micromanaging them. They can be rewarding but something you're not going to jump in overnight and master without making plenty of mistakes and or losses.

This is true, but it's not as bad as you might think and very dependent on the type of property you own and the type of tenants it will attract. If you look after your tenants they'll usually look after your property. Don't forget there are landlords out there that are total shitstains too. That recent fire on Russell Island that claimed a father and his five young sons: the surviving mother had apparently asked for smoke alarms to be installed. The landlord faces a fine of $774 for not doing so, that's not even $130 a life...

Investing seems overcomplicated these days due to the range of things you can put your money in, a lot of which aren't much better than putting your cash through the pokies. Property is still king IMO - you'll always have a place to live. My hard-learned advice to my own kids is to buy property as soon as you can afford it (not that anything is very affordable these days), and park $20k into low cost ETFs with exposure to AU & US shares. Fuck super, that's for old people. Build wealth you can spend while you can enjoy it and use when you need to. Who wants to wait until they're 67 to start living?

 

[rowdyflat]

Believe me you will prolly get to 67yo one day.
IMO buy property that you can afford let it then leap frog to the next one negative gearing is only wise if you can afford it we never did it.
It is the most reliable thing long term .

 

[ozzybmx]

Who wants to wait until they're 67 to start living?

Unless any of us were born before 1963, we are able to access our super, tax free from 60yrs old. I'm counting on it. 1959 is 55, then increments 1yr at a time to 1963.

 

[ozzybmx]

Believe me you will prolly get to 67yo one day.
IMO buy property that you can afford let it then leap frog to the next one negative gearing is only wise if you can afford it we never did it.
It is the most reliable thing long term .

Sad, that the hardest property you buy is your first one, the rest are easy.

 

[rowdyflat]

Believe me you will prolly get to 67yo one day.
IMO buy property that you can afford let it then leap frog to the next one negative gearing is only wise if you can afford it we never did it.
It is the most reliable thing long term .

 

[ozzybmx]

Believe me you will prolly get to 67yo one day.

I would like to mate, just had a 51yr old mate die of a heart attack and he was a Zwift addict, climbed the Alp nearly every day.

He did 5000vm+ a week, averaged over 250,000vm a year and since discovering it, regular 190bpm up the Alp, never rode a bike on the road or trails since, he was a stress head. Worked really hard, spent 1 hour on the trainer after kids stuff... gone. A healthy heart is nothing when stress gets to it.

Sad to hear, 67 is a hope.

 

[Nambra]

Similar story here @ozzybmx, had a mate die on his 41st birthday maybe 10 years ago, in front of his wife and two young kids (1yo & newborn, got married late). Cardiomyopathy from memory; he new about it and his doctor told him he had a 1% chance it would kill him. Was otherwise a fit, healthy person, never smoked and wasn't a big drinker.

Not all of us has Keith Richard's genes.

 

[ozzybmx]

Similar story here @ozzybmx, had a mate die on his 41st birthday maybe 10 years ago, in front of his wife and two young kids (1yo & newborn, got married late). Cardiomyopathy from memory; he new about it and his doctor told him he had a 1% chance it would kill him. Was otherwise a fit, healthy person, never smoked and wasn't a big drinker.

Not all of us has Keith Richard's genes.

Never know the time mate