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wealthier than ever!?

Discussion in 'Investing Strategies' started by Nigel Ward, 23rd Jan, 2006.

  1. Nigel Ward

    Nigel Ward Team InvestEd

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    See this from Commsec's market bulletin 235

    The average aussie obviously needs more debt! :p

    How did you fare?
     
  2. Glebe

    Glebe Well-Known Member

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    I find it hard to believe the average Aussie's net worth is $290k. I guess it's possible actually.

    How did I go? Well I'm less worth than the average Aussie, but my worth has grown a few hundred percent in the last 5 years. Hope to be worth as much as the average Aussie by my 30th birthday...
     
  3. Nigel Ward

    Nigel Ward Team InvestEd

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    Glebe

    I wouldn't stress about it. for most people those 30 years you have ahead of you are the key ones for wealth creation due to the compounding effect. Thus, you're probably well ahead of "the curve" already.

    Cheers
    N.
     
  4. Alan

    Alan Well-Known Member

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    I'm trying to get more (good) debt. Honest!! :D ;)

    Actually I have a wife and two daughters.......so acquiring more debt will be the least of my problems. :eek: :eek:
     
  5. Glebe

    Glebe Well-Known Member

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    Thanks Nigel. I know I'm doing well though, it's just hard when you think about retirement each day to know that it's still 15 years away. :( I need to remember how to live for the moment more.
     
  6. Alan

    Alan Well-Known Member

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    Good idea Glebe. :)

    We're going to look pretty silly if we don't make the 15 year mark and yet build everything around 'that will be when we start living' won't we? :p :D

    Plan for the future.........but live for the day!

    Now.....if I can just remember to apply that myself too. :rolleyes:
     
  7. Jacque

    Jacque Team InvestEd

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    Ah yes, it's all about balance too :)
    Enjoying the journey and all that..... very important.
    As far as increasing debt goes, my 10 yr old son is beginning to eat me out of house and home at an alarming rate (with none of these cost tax deductible!). Maybe it's time to fork out for a nice little regional cashflow property to pay for these increasing grocery bills ;)
     
  8. Alan

    Alan Well-Known Member

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    Call for ideas please!

    We need to find a way of getting Jacque's 10yo:

    a) to stop eating so much, or
    b) make him income producing, or
    c) find a way to make him tax deductible or......... ideally......
    d) all of the above


    I'm looking at the kids in coal mines angle at the moment Jacque, but I'll get back to you.


    :D :D
     
  9. Demoman

    Demoman Member

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    Use him as the main character in a food commercial.

    Cheers

    Jared
     
  10. Nigel Ward

    Nigel Ward Team InvestEd

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    Surely Jacque's son could get a paper round? That way the cost of bike would be deductible? (provided of course that it was only ridden for paper delivery purposes ;) )
     
  11. Tropo

    Tropo Well-Known Member

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    Hahahahaaa....Very funny !!!. :D
    It sounds like a dark side of having children. ;)
     
  12. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Jacque,

    I may have a solution... :D

    Our next door neighbours put their 13yo into a modelling agency and he's been doing extras work on the Home and Away set ever since doing nicely. He just got the call up to do two US ads for $10K and $18K respectively.

    Now THAT should pay for a fair bit of his tucka. ;)

    Cheers,
    Michael.