Australia: the expensive country (A traveller's dilemma)

[jamescollister]

Anyway money is good, gives you options, being the richest man in the graveyard makes little difference to the dead.

There is a time for saving money and there is a time for spending it.

When I was working I was savy with my dollars getting things squared away so I could retire early and have a pot to piss in.

Now I'm retired my goal is to spend it and not think about it too much.

What one don't spend will be left in the bank when one die's and the people who get it will piss it up against the wall anyway.

I'm spending it.

Good for you, if you ever get up my way, I'd be happy to help you spend it. Girls and booze come to mind, but your paying, I'm broke. Jim

[cnx37]

Jim, Terry is a very generous guy! BUT, there is a price for everything - his price & terms - I have no idea.

[terry57]

^

Well its not very hard to work out mate, it goes like this. I worked for 40 years of my life and never once received a dole check.

34 years of my life I worked full time in a dangerous job and nearly died 3 times .

So in conclusion, I feel I've done the hard yards and have no problems living life and spending my money on my terms.

After all of that I want two pots to piss in.

Fair enough that innit.

[farmerfloyd]

That is more then I when I was there a few years ago. Might be a bubble coming.
Can buy 2-3 bedroom houses for $30,000 to $45,000 in Beverly Hills, Florida.
Rent for $600,$ 700.00 month, were 20-to 30k 3 years ago. love it.

[cnx37]

That is more then I when I was there a few years ago. Might be a bubble coming.
Can buy 2-3 bedroom houses for $30,000 to $45,000 in Beverly Hills, Florida.
Rent for $600,$ 700.00 month, were 20-to 30k 3 years ago. love it.

That sounds too good to be true! Usually is!
Simple math/s - conservative outcome
Annual income (600 x 12) - exps - say $2k = $5200 - say 48 weeks pa=$4646 (net).
Purchase price = $45k
ROI = 10.3%!

[jamescollister]

Well tell you now, would like to be anywhere, but here now.
Not stopped raining, 12 days, sun comes out for an hour or so, place turns into a sweat box.
Whole village has gone into hibernation, kids off school, Buddha long weekend, powers on and off, nets down to dead slow, when it works.
Can't get rubber in the rain, price is so law hardly worth the effort.
Time for another beer.Jim

[cnx37]

Jim, it is a pleasure to hear that life is so good here in LOS.
I hear that the South LOS is ultra good - BKK, Pattaya, Phuket etc. I have been in CNX for 12 years. It is said that CNX is for "dirty ol' men" & those with no $$$. It is not untrue BUT it is pretty damn good. Otherwise, I would have departed by now. We do have power problems but humidity is not an issue.
What is the remedy? I think that you are on the right track - beer & more beer. If that does not work - whiskey & more whiskey - faster the consumption the better.

[jamescollister]

Jim, it is a pleasure to hear that life is so good here in LOS.
I hear that the South LOS is ultra good - BKK, Pattaya, Phuket etc. I have been in CNX for 12 years. It is said that CNX is for "dirty ol' men" & those with no $$$. It is not untrue BUT it is pretty damn good. Otherwise, I would have departed by now. We do have power problems but humidity is not an issue.
What is the remedy? I think that you are on the right track - beer & more beer. If that does not work - whiskey & more whiskey - faster the consumption the better.

Try and stay of the hard stuff, beer passes time, whiskey kills time.
Just this time of year, locals eat and sleep, I'm getting better, can sleep 11 hours a day now.
Big difference than my old life, 6 hours sleep was a good night, hard to switch clocks.
Jim

[cnx37]

.... beer passes time, whiskey kills time.
Jim, I have been off the "turps, booze, piss" since 1984. My ex-wife made that decision for me! Living in LOS & being a boozer - sign one's own death warrant? No thanks.
Now, stage 4 throat cancer has "invaded" me - 6 years ago. Statistically, I should be dead - again. Cancer is "shit" - no solid food - vege soup only. Chocolate milk - that is my entire diet - yes, 6 years.
It is good! New "wife" - new life - I like it. All I have to do is compare the alternatives - ie living in Oz - no relationship - -ve relationship with "blood family". Salvos or St Vinnies - I will take LOS! It is not the $$$. It is all the BS!
"Life is good" - Korean electronics firm? "One day at a time" - AA philosophy.

As they say in Oz - see ya, Digger!

[jamescollister]

.... beer passes time, whiskey kills time.
Jim, I have been off the "turps, booze, piss" since 1984. My ex-wife made that decision for me! Living in LOS & being a boozer - sign one's own death warrant? No thanks.
Now, stage 4 throat cancer has "invaded" me - 6 years ago. Statistically, I should be dead - again. Cancer is "shit" - no solid food - vege soup only. Chocolate milk - that is my entire diet - yes, 6 years.
It is good! New "wife" - new life - I like it. All I have to do is compare the alternatives - ie living in Oz - no relationship - -ve relationship with "blood family". Salvos or St Vinnies - I will take LOS! It is not the $$$. It is all the BS!
"Life is good" - Korean electronics firm? "One day at a time" - AA philosophy.

As they say in Oz - see ya, Digger!

Sorry to hear,don't know what to say, so want say anything. Im

[cnx37]

BUT, I am not dead - although sometimes when the pain escalates, I "pray" for this option. We Westerners seems to have a primitive attitude of "life" - everlasting life.
I prefer the Buddhist philosophy - "Birth, suffering, death". Makes sense to me.
PS: your logic is supreme! (nothing to say - say nothing).

[peaches]

BUT, I am not dead - although sometimes when the pain escalates, I "pray" for this option. We Westerners seems to have a primitive attitude of "life" - everlasting life.
I prefer the Buddhist philosophy - "Birth, suffering, death". Makes sense to me.
PS: your logic is supreme! (nothing to say - say nothing).

Puts all the bellyaching on the forum into perspective.

Good luck cnx.

[cnx37]

BUT, I am not dead - although sometimes when the pain escalates, I "pray" for this option. We Westerners seems to have a primitive attitude of "life" - everlasting life.
I prefer the Buddhist philosophy - "Birth, suffering, death". Makes sense to me.
PS: your logic is supreme! (nothing to say - say nothing).

Puts all the bellyaching on the forum into perspective.

Good luck cnx.

peaches
"bellyaching" - NEVER see it on TD - must be TV?
Euthanasia - I support it 100%! Dr Nitschke - I am a supporter.

[navynine]

Get a caravan and eat at the bakery great pies and a carton of beer is still cheap or at the least within range. normal social activities around a small pool end up better than a pub..........Great life on little monies

[cnx37]

Not only are you beautiful (avatar), you are smart! But, I do not drink anymore (but am an Aussie).
Beer & Pies (with mushy peas + "blacK" sauce) - better than a traditional Xmas dinner?

[9999]

The debt is repaid through your income tax when you earn more than $53,345 in a financial year.

9999
This should be an invaluable aid for you! After graduation, your kids just stay in Oz (& do not work) or come back to LOS! Easy!

That seems to be the play. Fleece the Aussies for free Uni (minus some text books) and use it in Thailand with full citizenship rights.

I have a nice Super Fund but am under no illusion that tomorrow I could loose the lot if the economy collapses.

I'm self funded mate, I don't get shit from the Government.

Could pull all money out tomorrow and go place it on Red if I want.

I don't get why more retirees don't take control of their own finances. You are self funded and have worked very hard to be so, but the govt / corporations still own you as long as you're in a fund. With all that free time in retirement why not try make some saavy investment and get ahead of the pack when things go to shit?

Me I got no super and am truly self funded. I take down a monthly wage and then add 10% on top which goes into a trust fund in my kids' name with me as the trustee. This is my 'super' fund and it incurs no tax, although it doesn't get the full tax break benifits as a super fund, it more than counters that by me having the choice of where to place investments coz fucked If I'm letting some other fuker, some suit in an office somewhere who never risked a dime of his own coin, to decide my entire investment future.

I mean it's amazing how all these 'super' funded people have no idea what is happening with their money. And Aussies are the worst. The most financially unsaavy people in the world I'll tell ya. 10% of everything I ever earned, me I want total 100% control of that shit.

[MeMock]

^ I agree.

I have a SMSF plus a family trust and I am still in my 30's.

[cnx37]

^ I agree.

I have a SMSF plus a family trust and I am still in my 30's.

SMSF - net assets - zero?
Family trust - documentation purchased off-the-shelf. Dormant.

Annual accounting fees - AUD5k.

Still in 30's - ready to start work yet?

Do you really understand what a SMSF is? Do you comprehend a trust structure - the role of the trustee, role of beneficiaries?

[MeMock]

Why would I have a SMSF for 8 years if I did not understand how it worked?

Why would I have a family trust for 10 years if I did not understand how it worked?

[cnx37]

Why would I have a SMSF for 8 years if I did not understand how it worked?

Why would I have a family trust for 10 years if I did not understand how it worked?

Elementary my dear MeMock.
I worked at the ATO for 10 years; university for 8 years (accounting & Tax Law); public practice for 10 years! Touchy bastard?

[MeMock]

Touchy? Nope, simply answering your stupid questions.

Congratulations on all those years you have spent working. I can't match those impressive stats as I retired when I was 31.

[cnx37]

Stupid questions? I dealt with many clients - vast range of vocations. This is the very reason why people seek the services of an accountant.
I retired at 42. At age 31, an inheritance? Embezzlement?
Honestly, retiring at 42 was forced - ill-health. What does one do with one's time at age 31? The reason for your retirement?

[MeMock]

It was your assumptions that I did not understand and did not need a trust or super fund that was stupid.

Again, your assumptions about my situation by asking if I inherited or embezzled my money are just as stupid (and rude).

It was hard work, good ideas and good timing (luck) that allowed me the privilege of calling the shots when I was 31.

By saying I retired is not quite correct because as you said 'what does ones time at age 31'. At age 31 I was finally able to control my own destiny and work when, where and at what I liked.
I don't need to work but I chose to. I homeschool my kids, I travel but I also invest in a wide variety of companies across three countries as well as real estate which keeps me as busy as I want to be.

[cnx37]

MeMock - hallucinations?
Your 1st sentence - trash? No assertion of lack of understanding trust structures on my part. A need or no need for such structures - again, I did not make any assertions thereto.
Inheritance, embezzlement - not impossible. Gina R - James Packer?
Starting work at say age 17 (no tertiary education). 14 years - ultimate success?
You - unique! I have acquaintances - well-healed. One chose to retire early - cruises the Bahamas They enjoy their work - a factor in success. They contribute to the community - $$$.
Of course, you are non-specific re your current ventures - convenient?
Wide variety of companies (not trusts) - spanning 3 countries - real estate + plus home-schooling. You are definitely multi-talented & busy.
We mere mortals endeavour to excel at one vocation. Not MeMock! Congratulations!

[MeMock]

80% of what you just wrote I have absolutely no idea what you are trying to say.

I had a business partner once who always said "Assumptions are the mother of all ****ups" You are a good case study.

Where did I said that I excel at anything? Please find it and quote it for me. Stop making assumptions. You asked what I now do so I told you in as brief amount of words possible that I still chose to work and still keep busy. You now assume that I excel in all of these ventures. I do not. Some work, some don't and some have failed miserably.

Trusts can own real estate. You would know that given your experience. Trusts can be used to distribute tax amongst the family. It gives you many different options come June 30. Once again, you would know this right?

Stop assuming things.