[joanmc]

WOW I just found this thread and as an oldie (40) all I can say is you guys rock! What you have all achieved is amazing.

I don't think it is a "penis" competition I think it is inspiring to read about what others have done, you all make me want to go and buy another house.

Keep it up you champs

[Jenni]

Hi Bella, Chris and others

Just read this to see what under 30s think and am very impressed. I'm just over 50 but retired before I was 50 (all my own work, no inheritances and also no fancy job, just living within my means, saving at least 10% of salary from day 1 of work, etc). Able to do this because I sat down and worked out what I wanted to do when in my 30s. My one wish is that I had been able to learn more about investing when I was younger - really only started about 10 years ago, mainly through seminars/conferences run by reputable organisations like ASX, Australian Investors Association etc.

Get some good books and read them - there are a lot around.

My basic advice, save 10% of your after tax income, take advantage of the super co-contribution, salary sacrifice into super later and educate yourself. Don't become a victim of poor advice.

[Chris C]

Originally Posted by Jenni

No inheritances and also no fancy job, just living within my means, saving at least 10% of salary from day 1 of work

Sounds like a very "Richest Man in Babylon"-ish, style of wealth generation. A method that has worked for millennia.



Congrats on your early retirement. I hope to join your club one day in the not too distant future.

[toddp]

Hi All,

I just found this thread and want to say congrats to all the young investors out there (well all investors actually!). It is so refreshing to see other young people not leave their life to circumstance and to take control of what you want to do and where you want to go in life.
I personally don't believe life is meant to be controlled by our work and finances and although I don't believe money brings happiness - it can certainly help to do some great things in life.

I'm 25 now
[*]I have 3 investment properties now worth over 1.3mil,
[*]have been investing in shares since 17 and have done very well with a 45k portfolio
[*]I have recently started (last 12 months) options trading and am earning an extra 3-4k per month with a 10k trading bank being very conservative

I was fortunate to get a leg up from my parents with my first property, they gave me 20k to help with my first deposit, after that I got some great education, read lots and lots of books (thank god for Robert Kiyosaki!), asked lots of questions and found great mentors, did the right deals and have learnt the wonders of leveraging!
I bought the right property and added value in renovations and made 70k in equity in 6 months and have done two more great deals since.

--------------------------------------------------------------------------
My 1 year goals are:
Purchase another 3 IP
Earn 50k in options trading income
Build my share portfolio by another 30k
Head to Europe for 4 weeks with my soon to be wife.
Start internet business

3 year goals:
continue my investing - purchasing 3-4 properties per annum
increase options trading to earning 10k per month
Increase share portfolio to 150k
Start business teaching young people to invest and to get ahead in life

5 year goals
Financially free! - this means 150k PA for me, I am on track to do this now.
(I won't retire, I love what I do too much and would get very bored)
take a year off and spend a year overseas in other cultures - Japan, UK, Italy

Congrats again to everyone on this thread. You are truly unique!

Look forward to hearing more from everyone.

[greygoose]

Originally Posted by toddp

Hi All,

I just found this thread and want to say congrats to all the young investors out there (well all investors actually!). It is so refreshing to see other young people not leave their life to circumstance and to take control of what you want to do and where you want to go in life.
I personally don't believe life is meant to be controlled by our work and finances and although I don't believe money brings happiness - it can certainly help to do some great things in life.

I'm 25 now
[*]I have 3 investment properties now worth over 1.3mil,
[*]have been investing in shares since 17 and have done very well with a 45k portfolio
[*]I have recently started (last 12 months) options trading and am earning an extra 3-4k per month with a 10k trading bank being very conservative

I was fortunate to get a leg up from my parents with my first property, they gave me 20k to help with my first deposit, after that I got some great education, read lots and lots of books (thank god for Robert Kiyosaki!), asked lots of questions and found great mentors, did the right deals and have learnt the wonders of leveraging!
I bought the right property and added value in renovations and made 70k in equity in 6 months and have done two more great deals since.

--------------------------------------------------------------------------
My 1 year goals are:
Purchase another 3 IP
Earn 50k in options trading income
Build my share portfolio by another 30k
Head to Europe for 4 weeks with my soon to be wife.
Start internet business

3 year goals:
continue my investing - purchasing 3-4 properties per annum
increase options trading to earning 10k per month
Increase share portfolio to 150k
Start business teaching young people to invest and to get ahead in life

5 year goals
Financially free! - this means 150k PA for me, I am on track to do this now.
(I won't retire, I love what I do too much and would get very bored)
take a year off and spend a year overseas in other cultures - Japan, UK, Italy

Congrats again to everyone on this thread. You are truly unique!

Look forward to hearing more from everyone.

what do you earn, $250k a year?

[Chris C]

Originally Posted by toddp

5 year goals
Financially free! - this means 150k PA for me, I am on track to do this now.

Do you mean $150,000pa in passive income, or does this include you continuing to work and trade etc?

[archangelsupreme]

Originally Posted by greygoose

what do you earn, $250k a year?

ToddP is just insane - do share your secrets.

[greygoose]

Originally Posted by archangelsupreme

ToddP is just insane - do share your secrets.

secret = lie about net worth on internet forums to feel better about working a dead end 9-5 and living with parents

[Chris.R_WA]

Originally Posted by greygoose

secret = lie about net worth on internet forums to feel better about working a dead end 9-5 and living with parents

Why would anyone do that greygoose?

I'm the same age as todd, and I didn't lie in my answer to the thread.

I'll be the first to admit that the networth has come off slightly with the Perth property market softening. I've been using the lull to steadily add to my share holdings and collecting pretty good divs now, nothing earth shattering - but I could probably buy a new LCD TV every quarter if I didn't reinvest them.

Its not active trading, and I don't put much effort into it now that it's set up and running. My tenants are all pretty low maintenance - wish I could say the same about the PM!!

We had this brought up already in the thread, it's not a p_ss_ng comp, so why would anyone lie??

Just my thoughts

Chris

[greygoose]

he is saying he is making 3-4k each month with a 10k trading bank. If this is tru why doesn't he sell a house for around 400k, quit his day job and make 120k a month trading?? or even do this while he continues the job he loves so much.
he is saying he has somehow gotten approved and is currently servicing loans on property up to 1.3 mil with equity of 90k (+ maybe a bit extra from his second property) plus a fairly small share portfolio (even with rental income this will be a hefty monthly payment). and he believes that he is somehow going to purchase 3 more IP's in the next year, with things the way they are. and he's 25.

if he is telling the truth he is my hero and please teach me. but i just dont buy it