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How to not be average Joe?

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Great post Smurf and agree.
I could go on and on about the good side of property but this isnt a property thread, but just have to ask --

Starcraftmazter, do your parents own a house?
Are you renting?
You may have said it in another post and I havent seen it, sorry.

Just curious.
 
chrislp said:
It's not that big of a downside IMO. So I can't paint the walls pink, big deal.

I can afford to buy a unit but I prefer the freedom of choice if I want to move & I prefer my capital to be free.

With a mortgage my capital is.... .
Click to expand...

+1...i am far happier renting than any other option at current. $340 a week, no rates, a tiny water bill, a small power bill, and thats it. i never hear from the landlord, we look after the place, and hes already painted everything and polished the floors before we moved in *winning

and tyler i think to avoid becoming an average joe you just have to do SOMETHING. do your research, explore different investment possibilities, think of business ideas, always be thinking of ways you can make yourself successful, at the end of the day only you yourself know what your capable of. average joes buy one house, pay it off over 30 years, only pay what they are forced to into super, and thats it. fine for some, but i want more than this.

i personally am just aiming to be quite well off, i dont need money dripping out from every corner, so have set myself up accordingly to what i want to achieve. its all about you.
 
chrislp said:
It's not that big of a downside IMO. So I can't paint the walls pink, big deal.

I can afford to buy a unit but I prefer the freedom of choice if I want to move & I prefer my capital to be free.

With a mortgage my capital is.... .
Click to expand...

Chris
Most of the younger people think this way.
But let's say you've just retired at 60.
You don't own a home you are healthy and
You expect to live until 85 ish
Your Joe Average worked all your life and are
Frugal . So at your current rent of $300 / week
You'll need $375000 just for rent let alone anything else.
Over that time you can expect rent to rise considerably
So let's say $ 500000 k

Your pension is $ 350 ish and doesn't keep up with inflation.
Your car takes $50 a week just for petrol.

THINK NOW
OR when your 50 and Joe Average it's too late.
 

alot of assumptions there tech.
 
young-gun said:
alot of assumptions there tech.
Click to expand...

Not really.

If you think you can make more money TAX FREE by investing instead of living in your own home then go right ahead but you better be right or you'll be renting for the rest of your life and paying off someone elses house.
 
If you marry you need to keep nest egg hidden just in case , with about 50% or marriages failing you need some security if nothing goes wrong you can break it out on retirement.
 
Glen48 said:
If you marry you need to keep nest egg hidden just in case , with about 50% or marriages failing you need some security if nothing goes wrong you can break it out on retirement.
Click to expand...
God, what an awfully pessimistic view. Any wonder people fail at marriage so often; they look for the negatives and completely forget the positives.
 
breaker said:
Positives ?
Click to expand...

You know when she says she's wanting to experience new things and has no further use for you and thanks for busting your guts all your life but I'll take half the proceeds and I'm going to live with another bloke....byeee .........err sorry thats a negative isnt it.
 

I once asked a girl to mary but she declined,now I go fishing drink till daylight go out with her mates and fart at the table ,I wish she had said yes.
 
MrBurns said:
Not really.

If you think you can make more money TAX FREE by investing instead of living in your own home then go right ahead but you better be right or you'll be renting for the rest of your life and paying off someone elses house.
Click to expand...

yes, im happy to pay off someone elses asset that is falling in value at the moment. just because young people don't choose to buy now doesnt mean we are going to wait until we are 60.
 
+1.

young-gun said:
alot of assumptions there tech.
Click to expand...
Or perhaps realistic considerations.
 
Agree Mr. B nothing wrong with looking at the facts. I said if it all works out later you have a cash cow but be warned they can still take off in their 80"s.
Wish some one had of told me $1m would be !m richer.
 
young-gun said:
yes, im happy to pay off someone elses asset that is falling in value at the moment. just because young people don't choose to buy now doesnt mean we are going to wait until we are 60.
Click to expand...

Whooh hang on there Young'n I didnt say buy NOW in fact I wouldn't, hang on in case of a crash, it's looking pretty dim now despite the RBA being ordered to drop rates to help Gillard....errr I mean the economy.

Wait and watch, within a year or 2 it should sort itself out....
 
breaker said:
Positives ?
Click to expand...
Gee, the fact that you married your best friend? I couldn't think of a better way of adding meaning to your life, especially in this day and age where it is few and far between. If you think of marriage as some kind of financial pact or the necessity brought upon by a crisis of having to belong, or even a conduit for the realisation of endless sexual fantasies then you're probably like average joe and will be losing all of your pennies in a divorce court.
 
Marriage ruins everything, all of a sudden you're sleeping with a relative.
 
Now that food has replaced sex in my life, I can't even get into my own pants.

Is this off topic ?
 
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