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Australian Members

Discussion in 'Classic Menswear' started by earthdragon, Nov 18, 2008.

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  1. tobiasj

    tobiasj Senior member

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    Fuck PM, I say let's make him King
     
  2. Pink Socks

    Pink Socks Senior member

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    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.
     
  3. AriGold

    AriGold Senior member

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    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?
     
    Last edited: Mar 4, 2013
  4. Romp

    Romp Senior member

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

    [​IMG]
     
  5. JimmyHoffa

    JimmyHoffa Senior member

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

    I know that Accountants at a big firm like KPMG take about 8 years to reach 100,000 from Uni. So that is about 28-30 before you are on 100,000. Provided you don't get busted looking at Nudies while Channel 10 is filming behind you.

    If Sydney looked like this:
    http://www.google.com.au/search?hl=...ork-city-youll-ever-see%2F267018%2F;3000;1418

    Rather than this:

    http://www.google.com.au/search?hl=...ydney%25E2%2580%2599s_urban_sprawl%2F;400;200

    I might actually be able to buy some fucking space before I am 50.
     
  6. eightace

    eightace Senior member

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

    So one of us will be in for a surprise.
     
  7. Pink Socks

    Pink Socks Senior member

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    Possible new signature line.
     
  8. Gerry Nelson

    Gerry Nelson Senior member

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

    tobiasj Senior member

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    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
     
    1 person likes this.
  10. tobiasj

    tobiasj Senior member

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  11. Geoffrey Firmin

    Geoffrey Firmin Senior member

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    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.
     
  12. lachyzee

    lachyzee Senior member

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    Tobias, what about a university stripe oxford? Or check out the striped blue by albini or alumo. Luxire has all of those three.
     
  13. fxh

    fxh Senior member

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    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.
     
  14. fxh

    fxh Senior member

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    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
     
    Last edited: Mar 4, 2013
  15. Henry Carter

    Henry Carter Senior member Affiliate Vendor

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    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.
     
  16. Petepan

    Petepan Senior member

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    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.
     
  17. tobiasj

    tobiasj Senior member

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    "99% of the time people that rent never invest the difference between rent and mortgage" -- yes, very true.
     
  18. Journeyman

    Journeyman Senior member

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    Eh? I would have thought the opposite, although I could wrong.
    Wouldn't it be the case that the finer and less textured the weave, the more formal/businesslike the fabric?
     
  19. Prince of Paisley

    Prince of Paisley Senior member

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    I'm waiting for them to bring out Black & Tan spectators.
     
  20. CHECKstar

    CHECKstar Senior member

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    Really what you’re advocating is gearing up as a way to get higher returns. There is nothing wrong with this, but you could get similar results or potentially even better results by gearing up to purchase other types of investments, eg shares (especially recently). The key advantage to gearing up with property is that in Australia, banks are willing to lend much more against your equity for such purchases (be it a deposit, or equity in an existing property). While the most you will get as security against shares is 75% in say a margin lending account, most banks will be willing to lend you $4 for every $1 in equity you have. That give the borrower massive leverage, which allows for the type of returns you mention. That said, it’s based on the idea that prices are always going upAgain, nothing wrong with that, I myself have benefited from this effect. . There is always the old argument that “you can’t live in your share portfolio”, which does have some merit especially for your first home purchase.


    I'd say too formal. I'd side with a thinker stripe for formal/casual versatility.

    Oh, and PS, I'll be at the Kimber launch next week for sure!
     
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