Reading Time: 2 Minutes What’s up guys! So yesterday, MrsFrugalSamurai and I went out to celebrate a birthday lunch with some old friends. It was great to get outdoors, and see their everyone’s faces again – albeit with the smoke haze from the bushfires still lingering. A short aside – but for our international friends who are unaware, Sydney has been shrouded in smog for the last few weeks as our brave firefighters battle the raging fires… spare a thought for those who are in the thick of it. Anyhow, smoke or no smoke, life still goes on. So it came that we found ourselves sitting in a venue which…
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Financial Lessons From “Crazy Rich Asians”
Reading Time: 3 Minutes Howdy all! Earlier, I finally managed to properly sit and watch “Crazy Rich Asians” for the second time seeing as I missed half of it initially. If you haven’t watched the movie – it’s boy (Nick) meets girl (Rachel), girl meets boy’s family, boy’s family (mother) rejects girl, girl plays out game theory with boy’s mother. Or something like that. Of course, as the name suggests, this is set in the background of Crazy. Rich. Asians. Like me, you may have been puzzled by many of the questions which were left unanswered. Why is cousin Astrid so sad all the time? How come Tan Huas only…
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4 Paths to Accumulating Wealth
Reading Time: 4 Minutes I wrote earlier this year about how “Being Rich Eliminates 67% of Life’s Problems” (link here). Well, following on from the study Tom Corley did… You know, Tom Corley? The guy who spent 12 years conducting a study by interviewing and researching millionaires, multi-millionaires, multi-multi-millionaires and a group designated… “poor”, to try and see what’s the difference between “rich” and “poor”. In short, it is habits, habits and habits. However in this, he also discerned 4 very different paths towards accumulating wealth. The Dreamer/Entrepreneur These are people who the phrase “love what you do” is coined. And it showed, with an average net worth of $7.4 million. But the path is…
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Case Study – $1.1m to Invest, Now What? Part 2
Reading Time: 4 Minutes Welcome back folks! Are you ready for part 2 of the case study? In which we answer a question MrsFrugalSamurai sent me: “Have $AU 1.1m to invest (recent inheritance) + $150k savings Current situation: Late 20’s income $100k, partner earns $100k No kids, no assets, no debt Aim is to be a homeowner and financially independent at some stage. How would others split it between: PPOR (principal place of residence, i.e. primary residence) buy outright or deposit + mortgage Investment property Low cost index/ETF/Super Others?” If you missed part 1, or want a refresher – don’t fret, have a quick read of it here. Actually… you…
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Case Study – $1.1m to Invest, Now What? Part 1
Reading Time: 5 Minutes Wow what a day guys! Glad to see the end of it that’s for SURE. And you know what really capped it off? Yours truly somehow managed to step straight into doggy doo doo. Now normally I don’t mind a bit of dog poo, it’s a sign of vitality duncha know. Usually it sits there, quietly contemplating life and minding its own business. I respect that, it’s comfortable with the world. Unfortunately, JUST like asbestos… it’s deadly once disturbed. Man alive, I only found out AFTER I got back in the car. Driving down the main road during peak hour, suddenly I felt the peculiar need…
