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  # 1294571 30-Apr-2015 21:18
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Sideface:
Brumfondl: Yes, because 300k in stocks is not money in the bank, which is what you need to live off...


+1

... and stocks can devalue overnight for no particular reason.

I lost 85% on my stocks in the recent recession.
The stock market is a casino.
Only gamble on what you can afford to lose.


Wow, you must have been in some pretty high risk stocks. I have had some money in stocks since about 2000, and over that time they have doubled in value, even considering the big loss in value in the GFC they went back up again. Stocks are long term so go up and down.

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  # 1294587 30-Apr-2015 21:43
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mattwnz: How much is the freehold property worth? It could be worth 2k to over 1 million, it makes a huge difference.  It really depends on how many years you are going to live for, your age now and when you will get your super to supplement any interest you get. Also if you are supporting others. There are so many factors to look at and you would need financial advise, which you would need anyway if all your savings are in stocks.


an urban property worth $1 mil will set you back $10,000-$20,000 in rates a year ALONE ... whoever was going to live on 50k a year ... good luck




Involuntary autocorrect in operation on mobile device. Apologies in advance.


 
 
 
 


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  # 1294591 30-Apr-2015 21:46
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joker97:
mattwnz: How much is the freehold property worth? It could be worth 2k to over 1 million, it makes a huge difference.  It really depends on how many years you are going to live for, your age now and when you will get your super to supplement any interest you get. Also if you are supporting others. There are so many factors to look at and you would need financial advise, which you would need anyway if all your savings are in stocks.


an urban property worth $1 mil will set you back $10,000-$20,000 in rates a year ALONE ... whoever was going to live on 50k a year ... good luck


Try $2k-$3k a year in Auckland.

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  # 1294594 30-Apr-2015 21:47
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joker97:
mattwnz: How much is the freehold property worth? It could be worth 2k to over 1 million, it makes a huge difference.  It really depends on how many years you are going to live for, your age now and when you will get your super to supplement any interest you get. Also if you are supporting others. There are so many factors to look at and you would need financial advise, which you would need anyway if all your savings are in stocks.


an urban property worth $1 mil will set you back $10,000-$20,000 in rates a year ALONE ... whoever was going to live on 50k a year ... good luck


Depends on the area and the price of the house relative to the average value of the houses in the area. Many average properties in Auckland are worth 1 million +, but they wouldn't be paying over 10k in rates, they are probably paying less than 5k. I know someone who has a property worth 400k, but because they are in a small council area, their rates are closer to 5k. But if someone is paying 10-20k in rates, they should probably move somewhere cheaper to cash themselves up.

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  # 1294596 30-Apr-2015 21:48
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I think you'd be broke within a few years if you sold your stocks for 300k cash today. Maybe a few more if you moved to Gore.

I know this is different but it's kind of the same mentality. My Grandfather owns a group of companies revenues >100 mil (Not trying to sound like a snob just trying to show even how much you have you still shouldn't do it) he could easily sell out of but he still goes to work everyday at 5am and back at 6 in the evening. He knows he can definitely go live on some permanent holiday. But he doesn't because he'd be bored to death within a few days.

Without something to do during the day you would end up spending more money finding things to do every single day until you die and end up worse off financially and possibly mentally than you would if you kept your job and reaped the benefits of knowing you have the financial freedom if you need to spend it one day in the future.

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  # 1294604 30-Apr-2015 22:01
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Handle9:
joker97:
mattwnz: How much is the freehold property worth? It could be worth 2k to over 1 million, it makes a huge difference.  It really depends on how many years you are going to live for, your age now and when you will get your super to supplement any interest you get. Also if you are supporting others. There are so many factors to look at and you would need financial advise, which you would need anyway if all your savings are in stocks.


an urban property worth $1 mil will set you back $10,000-$20,000 in rates a year ALONE ... whoever was going to live on 50k a year ... good luck


Try $2k-$3k a year in Auckland.


Is akl rates so cheap?




Involuntary autocorrect in operation on mobile device. Apologies in advance.


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  # 1294613 30-Apr-2015 22:11
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joker97:
Handle9:
joker97:
mattwnz: How much is the freehold property worth? It could be worth 2k to over 1 million, it makes a huge difference.  It really depends on how many years you are going to live for, your age now and when you will get your super to supplement any interest you get. Also if you are supporting others. There are so many factors to look at and you would need financial advise, which you would need anyway if all your savings are in stocks.


an urban property worth $1 mil will set you back $10,000-$20,000 in rates a year ALONE ... whoever was going to live on 50k a year ... good luck


Try $2k-$3k a year in Auckland.


Is akl rates so cheap?


No but Auckland houses are very expensive which means the rates proportionally aren't as high as other parts of the country.

 
 
 
 


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  # 1294615 30-Apr-2015 22:13
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Still cheap. Imagine the MPs saying ah our average wage is higher than the rest of the country we should pay less tax ...

But yes i get that the poorer regions still need money to build roads and pump sewage ... And taxing a big house owner Proportionally a lot more to fund that ... Eg how much must am akl property be worth before they pay 10-20k in rates?




Involuntary autocorrect in operation on mobile device. Apologies in advance.


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  # 1294619 30-Apr-2015 22:22
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Working is an essential part of the human condition and many people who don't work have personality deterioration, I have seen in a fair bit in friends of mine who are have been made redundant and have had trouble getting re-employed. 

I would work even if I had millions in the bank, or won lotto.



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  # 1294639 30-Apr-2015 22:43
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I wouldn't cash out 300k. Bit tight but if producing 7 or 8% you can drip feed it out. Or move to cheaper country and or part time work and let this 300k just grow. Then out of the rat race. Some people do escape the smog and open up a coffee shop, hairdresser, motel, or just switch to part time work with some art work that they enjoy.

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  # 1294646 30-Apr-2015 22:53
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How old are you? $300K won't last long if you're only in your 30's.

If I came into a large amount of money, like Lotto, I would leave my current job. I would need to find something to do with my days though, apart from being a dad; there's only so much golf and PS4 you can handle, lol. Maybe volunteer or start a small business; something to keep the grey matter working.

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  # 1294653 30-Apr-2015 22:57
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It all depends on ones expectations. 

The answer for me is that this is not enough money for me to support my family so yes I would have to work. 

But, for a pensioner it might be ok if they live frugally. 

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  # 1294667 30-Apr-2015 23:09
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If you're young, 300K isn't even close to enough money to keep you going. I don't think 1M is enough.

Inflation would stuff you in well under 20 years.




Location: Dunedin

 


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  # 1294674 30-Apr-2015 23:29
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MileHighKiwi: How old are you? $300K won't last long if you're only in your 30's.

If I came into a large amount of money, like Lotto, I would leave my current job. I would need to find something to do with my days though, apart from being a dad; there's only so much golf and PS4 you can handle, lol. Maybe volunteer or start a small business; something to keep the grey matter working.


I'd travel a lot; just go anywhere for as long as I felt like it. Read a book about, say, Peru? Just go there. etc.

As a photographer, that would be my ideal life. Have enough money to support my travel to shoot anywhere, any time.





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  # 1294678 1-May-2015 00:00
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joker97: How does one learn about stocks?


I don't know where you're based but you can go into craigs investments and chat to them for free about the process and get brochures. Also ask them their opinion about ones you're interested in. I like them more for bouncing my ideas off them about companies. If you are a woman they also hold free information meetings, some informative. They allow you to start off small.

There are some good books and audio. Remember many are American and I'm not sure all of the advice is applicable to NZ.
Yahoo finance is great. You can create watch lists and see how they do.
Look at the tickers (codes for the company) to find out what they all are. I like looking at areas I know something about or enjoy or products you use.
The more you read the more you realise what a massive area it is.

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