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Australian Members - Page 1841

post #27601 of 51870
Quote:
Originally Posted by AriGold View Post

how long did you guys take to get to a $100k salary? Whether it be after school/uni etc
Not sure how relevant this question is in a forum that has members who are from a wide range of professions. Off the top of my head I know there are university students, teachers, people just starting out in the workforce, doctors, lawyers, those in finance and the public sector and everything in between.

$100K salary is impressive/important to some and less impressive/important to others (they might value the type of work they do over the wage or $100k might be loose change).

I think the more interesting thing to discuss is style, with an Australian slant. I know this thread covers topics wide and deep but really no need to go into "I earn more than you and I got it quicker" type posts.
post #27602 of 51870
Did not intend to make it a "i earn more than you and i got it quicker" type post. I kind just wanted to get a sense of wage growth vs. the rising costs of home ownership particularly with the housing boom in Australia. Seems like $100k these days doesn't mean what it used to, but also one does not need $100k to live a comfortable and fulfilling life.

A better question is, what are your expectations for pay rises (wage inflation), given the ever rising cost of living in Australia. Is it on par with CPI, better or worse?
post #27603 of 51870
Quote:
Originally Posted by md2010 View Post

One way of buying property is to start shopping at K mart, Target, Lowes , Big w etc. lol
Me and my mrs just paid deposit for a house last Saturday. I think I will be forced to join the NP club for next 12 months at least.
And we will be moving from beautiful suburb of Hornsby to wild west of Blacktown. I am a house person. Units just not for me. After dinner a cigarette at the back yard deck is a must for me.
Funny when you catch train form the north shore in the morning you will see all suits/business attires. If you are at west its all green/orange vest and construction boots.
Maybe at some point we will be able to move back to north shore.

thats quite the move - hornsby to blacktown. Mind you i know guys in hi-vis vests that are much better off than the suits.

 

Quote:
Originally Posted by California Dreamer View Post


Nah, way too expensive - unless you saw this at the Salvos.

lol8[1].gif

post #27604 of 51870
post #27605 of 51870
Quote:
Originally Posted by fxh View Post

I'd be just a tiny bit surprised if Robinsons had a St Pat's Day sale seeing they are in NI and prices in GBP not EU.

I also didn't see any of their shoe models named The De Valera Suede Wolf Tone, or the Micheal Collins Country Brogue.

 

Well, they had a sale on St. Pat's Day last year.

 

So one of us will be in for a surprise.

post #27606 of 51870
Quote:
Originally Posted by Michael Sy View Post

So, Pink Socks is too much of a pussy to contribute with meaning.

Possible new signature line.
post #27607 of 51870
Quote:
Originally Posted by Pink Socks View Post


Possible new signature line.

 

First the new avatar and now a new signature? What is the world coming to?

post #27608 of 51870
I don't get the attraction of home ownership (or rather, I get it, but not at those prices).

Here's a relevant reader comment from a Fairfax article about same that I saved a while back. It captures my thinking pretty well:

Chaz: like a lot of people, you appear to be fixated on a trivial issue: "being evicted at a whim". Other people are fixated on things like "I can't paint a wall if I want to," "I can't put picture hooks up," and so on.

While these things are real enough, changing them by buying a place comes at a very high cost. For example, mortgage interest and owner costs add up dramatically over time. By paying the extra costs of having a mortgage, you have far less income to invest elsewhere, so you end up with all your capital tied up in one asset. The cost of major repairs can cripple you financially. You risk losing your home if you lose your job, which is far worse if you are forced to sell in a downturn and have negative equity. Or you get a divorce and have to sell as part of the property settlement, in which case buying again means a whole new set of transaction costs, which are tens of thousands of dollars. And if this happens after you turn 50, good luck getting a mortgage.

These things are real, too, and add up to one thing: buying a very large asset with a very large loan comes with very large costs and very large risks. Few people who buy take even a moment to consider those costs and risks, because the human mind is capable of infinite self-deception. Instead they fixate on minor benefits, like how they can paint their lounge room purple if they want. However, that will be little comfort if things go bad.

Phil H | Ultimo - January 17, 2011, 1:27PM
post #27609 of 51870
But enough about mortgages. I'm looking at getting some new shirts, what do people think are the most versatile colours/patterns for a shirt that can be worn both to work and more casually? I'm thinking fine stripes would be a good start:

http://luxire.com/collections/all-sorted-by-price-low-to-high/products/white-blue-pinstripe

(Or is that too formal for weekend wear?)
post #27610 of 51870
Quote:
Originally Posted by tobiasj View Post

But enough about mortgages. I'm looking at getting some new shirts, what do people think are the most versatile colours/patterns for a shirt that can be worn both to work and more casually? I'm thinking fine stripes would be a good start:

http://luxire.com/collections/all-sorted-by-price-low-to-high/products/white-blue-pinstripe

(Or is that too formal for weekend wear?)

During the day even its dressed down with jeans it would look a bit too formal IMHO but for a night of frivolity why not!

I have bought a few shirts via US sales this past month in oxford cloth and plaid checks designed to team with corduroy trousers for Canberra winters.
post #27611 of 51870
Tobias, what about a university stripe oxford? Or check out the striped blue by albini or alumo. Luxire has all of those three.
post #27612 of 51870
Quote:
Originally Posted by eightace View Post

Well, they had a sale on St. Pat's Day last year.
So one of us will be in for a surprise.

Probably me then.

If things have calmed down enough in a place like Carrickfergus to have a St Pats day sale then that can only be a good thing.
post #27613 of 51870
Quote:
Originally Posted by tobiasj View Post

But enough about mortgages. I'm looking at getting some new shirts, what do people think are the most versatile colours/patterns for a shirt that can be worn both to work and more casually? I'm thinking fine stripes would be a good start:
http://luxire.com/collections/all-sorted-by-price-low-to-high/products/white-blue-pinstripe

(Or is that too formal for weekend wear?)

Generally the finer the stripe and the less textured the weave thicker and more textured the weave the more toward business/formal wear. The thicker the stripe usually the more casual although not always if its an English business style striped shirt with French cuffs, especially on a white background.

See below.

edited after JM comment
Edited by fxh - 3/4/13 at 10:33pm
post #27614 of 51870
Quote:
Originally Posted by tobiasj View Post

Warning: Spoiler! (Click to show)
I don't get the attraction of home ownership (or rather, I get it, but not at those prices).

Here's a relevant reader comment from a Fairfax article about same that I saved a while back. It captures my thinking pretty well:

Chaz: like a lot of people, you appear to be fixated on a trivial issue: "being evicted at a whim". Other people are fixated on things like "I can't paint a wall if I want to," "I can't put picture hooks up," and so on.

While these things are real enough, changing them by buying a place comes at a very high cost. For example, mortgage interest and owner costs add up dramatically over time. By paying the extra costs of having a mortgage, you have far less income to invest elsewhere, so you end up with all your capital tied up in one asset. The cost of major repairs can cripple you financially. You risk losing your home if you lose your job, which is far worse if you are forced to sell in a downturn and have negative equity. Or you get a divorce and have to sell as part of the property settlement, in which case buying again means a whole new set of transaction costs, which are tens of thousands of dollars. And if this happens after you turn 50, good luck getting a mortgage.

These things are real, too, and add up to one thing: buying a very large asset with a very large loan comes with very large costs and very large risks. Few people who buy take even a moment to consider those costs and risks, because the human mind is capable of infinite self-deception. Instead they fixate on minor benefits, like how they can paint their lounge room purple if they want. However, that will be little comfort if things go bad.

Phil H | Ultimo - January 17, 2011, 1:27PM

Sounds like a bloke who has never owned a home. Problem with this is, those people, 99% of the time that rent never invest the difference between rent and mortgage mostly because they can't afford it (hence why renting in the first place) or they are themselves saving for a house deposit. I'm sure they are out there but I've never met 1 person that rents but has a huge share portfolio instead for example, not counting super of course. Other thing to bear in mind is eventually you have to retire, so say you retire at 65 and live till 90, you've still got 25 years of renting to take a nice chunk out of your super savings.

FWIW you can do well in certain situations quite quickly in the property market if you are smart. I bought my first apartment of the plan and made 50k in the 18months I had it (and lived in it). Those same apartments have now slowed in capital growth so timing plays a big part too. The point, there is no way you could save 50k in cash in the same period unless possibly living with mum and dad and not having a life.

Anyway, it doesn't really matter at the end of the day. Some people will make smart decisions and some poor. Some people with shitloads of money end up poorer than some people on average wage because they spend it like it's going out of circulation.
post #27615 of 51870

A house/apartment you live in is not an investment. It is to provide shelter. Not just physically, but also emotionally. The mental stability and the forced savings via repayments will manifest itself several years later, with different benefits to different people.

 

It is NOT a piggybank, nor is it a lottery ticket to a penthouse of your dreams.

 

If you can afford it, and factor in margin of safety for contingencies such as rises in interest rates, maintenance, and being temporarily out of a job for a few months, then buy it, live in it and enjoy it. as it will provide plenty of memories you will cherish.

 

Different kettle of fish if you are thinking of buying property as an investment/speculation.

 

Most people confuse the two.

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