Target networth

[revhappy]

Sydney property prices finally falling

 

[What2do4life]

Anyway, my original question isn't how much is your target networth but rather

will you likely revise your target networth higher whem you reach it and continue with your lifestyle or will you change (ie slow down) your lifestyle or career to pursue your other interests

hope to hear from people who experienced it

To be honest, it is never enough! Just human nature.

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[BBCWatcher]

Is it any wonder why direct ownership of properties give you much higher returns than through REITs and property stocks?!

You've provided absolutely no data to support that assertion.

 

[Mecisteus]

Explain what?

You don't know your legal rights to HDB flats, 99-years leasehold private properties vs freehold private properties?

Let me explain to you your legal rights:

blah blah blah

Uncle everyone thinks you are nuts going around every thread to promote freehold properties.

 

[What2do4life]

Uncle everyone thinks you are nuts going around every thread to promote freehold properties.

Imo, he is right on the definition of leasehold vs. freehold. If given the choice, go for freehold. Investment wise makes the most sense over the long term.

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[Sinkie]

Imo, he is right on the definition of leasehold vs. freehold. If given the choice, go for freehold. Investment wise makes the most sense over the long term.

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Not necessary.

Not going to explain or else this thread going to derail lol

 

[revhappy]

Anyway, my original question isn't how much is your target networth but rather

will you likely revise your target networth higher whem you reach it and continue with your lifestyle or will you change (ie slow down) your lifestyle or career to pursue your other interests

hope to hear from people who experienced it

Most people will revise. Especially if you are still young and the target was more of a motivational milestone and nothing to do with wanting to get out of rat race and early retirement.

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[malthead]

To be honest, it is never enough! Just human nature.

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then what's the point of having a target in the first place?

 

[malthead]

Most people will revise. Especially if you are still young and the target was more of a motivational milestone and nothing to do with wanting to get out of rat race and early retirement.

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but its never enough right? by the time you know it, you have revised it several times but then you realised you are past 60 and can't do the many things you wanted to do

 

[havetheveryfun]

but its never enough right? by the time you know it, you have revised it several times but then you realised you are past 60 and can't do the many things you wanted to do

yes you are right ... but a lot of it is due to social pressure .. most ppl arent willing to take risks even if they have something to fall back on... due to being afraid of being laughed at by other ppl..

 

[minamikaze]

Anyway, my original question isn't how much is your target networth but rather

will you likely revise your target networth higher whem you reach it and continue with your lifestyle or will you change (ie slow down) your lifestyle or career to pursue your other interests

hope to hear from people who experienced it

This is the question that I'm curious to hear the answer to, as well.
When you're making a good salary and on an upward trajectory, it's hard to imagine pulling on the brakes. My current aim is just to pay off the 2 houses and have maybe another 500K as backup, but I'm not even sure if I would stop at that point, as much as I'd like to at this point.

 

[malthead]

This is the question that I'm curious to hear the answer to, as well.
When you're making a good salary and on an upward trajectory, it's hard to imagine pulling on the brakes. My current aim is just to pay off the 2 houses and have maybe another 500K as backup, but I'm not even sure if I would stop at that point, as much as I'd like to at this point.

the closest answer i can come up with is that i will likely not revise if i have no kids. If i have kids, the target once achieved will prob be stagnant but I will continue working until the kids are financially independent or at least when their education finances are settled.

 

[revhappy]

but its never enough right? by the time you know it, you have revised it several times but then you realised you are past 60 and can't do the many things you wanted to do

Most people don't really know what they want to do. They are just materialistic and I include traveling and entertainment also as materialism. These things they do even when they are working. I don't think many people have ideas of doing something full time after quitting their job.

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[malthead]

Most people don't really know what they want to do. They are just materialistic and I include traveling and entertainment also as materialism. These things they do even when they are working. I don't think many people have ideas of doing something full time after quitting their job.

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i enjoy travelling but i would like to go for a long trip and not those 1-2 weeks holiday you take from work. Clearly i need to make a choice between to pursue that 6 month holiday vs bringing back the bacon (for the family)

 

[revhappy]

i enjoy travelling but i would like to go for a long trip and not those 1-2 weeks holiday you take from work. Clearly i need to make a choice between to pursue that 6 month holiday vs bringing back the bacon (for the family)

If you can afford, you should definitely take such short sabaticals. Western people do this quite commonly. A couple of sabaticals of around 1 year each should be okay in a lifelong career.

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[malthead]

If you can afford, you should definitely take such short sabaticals. Western people do this quite commonly. A couple of sabaticals of around 1 year each should be okay in a lifelong career.

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most jobs are not going to wait for you in a year. esp in the financial sector

 

[What2do4life]

most jobs are not going to wait for you in a year. esp in the financial sector

So true

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[revhappy]

most jobs are not going to wait for you in a year. esp in the financial sector

True, sabbatical is good, when you are in between careers or when you have decided to relocate. Or when you have decided you have earned enough and can take some risks.

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[What2do4life]

True, sabbatical is good, when you are in between careers or when you have decided to relocate. Or when you have decided you have earned enough and can take some risks.

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Dun ever quit unless u have enough $$$$.
But this is never enough, so dun quit!

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[naveen99]

Uncle everyone thinks you are nuts going around every thread to promote freehold properties.

For your own stay leasehold is perfectly fine but for investment properties if you invest/have any property with lease of less than 80 years, it will not bring you the same returns as Freehold properties. Do not bet on the current new leasehold projects going en-bloc and making a pot of gold down the road as they are already so tightly built up.

If you do invest in leasehold now, get out of it before the lease goes below 80 years and reinvest in newer leasehold properties.