Ideas to retire/work less earlier

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investing in crypto is like investing in dog shit. if you buy dog shit for $1/kg and sell it for $2, you've made a profit. but it's still dog shit.

as others have said, speak with a financial adviser.

and as others have said - the most obvious option is to maximise the tax benefit available in making extra superannuation contributions. it's really boring, but the returns when factoring in the tax concession is hard to beat (though this depends on your tax bracket obviously).

otherwise, listed investment companies (LICs) or exchange traded funds (ETFs) averaging better returns than you're getting in your offset. again, they're pretty boring but over the long term, fairly reliable. harder to beat your offset in the current environment of course.

my partner and i have a couple investment properties, and also contribute more to super. but i also borrowed a bit to buy (mostly) dividend shares in relatively boring companies. i then use the dividends to buy more shares etc. lower overall returns in this high-rates environment, but at least you get a tax break on losses (negative gearing gets a lot of press re property, but nobody seems to care about it for any other asset). more interesting than other options, but more risky too. when i pay off the original loan, i'll either redraw or refinance to buy more shares. it's a slow burn though, so maybe too slow for the OP!
 
investing in crypto is like investing in dog s**t. if you buy dog s**t for $1/kg and sell it for $2, you've made a profit. but it's still dog s**t.
Many people have noticed that the idea of investing in crypto seems to be to trade out to your local currency as soon as you have made a big win, or a big sale.

The people walking away with other people/s money don't seem to have a problem with that.
 

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Crypto is like a game of musical chairs. Play the game right and the rewards are great, but always be ready and waiting for the music to stop.

I've been in the game since 2017 and find it increasingly easy to make low risk money in crypto. It does take time to see how the game is played though.
 
Many people have noticed that the idea of investing in crypto seems to be to trade out to your local currency as soon as you have made a big win, or a big sale.

The people walking away with other people/s money don't seem to have a problem with that.

I suspect you're a much better person than I am, Chief! Ultimately, investment = risk and nobody's forcing someone to buy dog shit by the kilo. while i do have some sympathy for people caught up in (unlawful) investment scams, speculators can gagf.
 
I think the whole thing is a joke but I don't have a problem with people making (or losing) money off crypto but anyone else with more than, I dunno 20% of their total capital in it has rocks in their head. This goes for any speculative or risky asset.

And this is from someone that has a very high risk for appetite...
 

investing in crypto is like investing in dog s**t. if you buy dog s**t for $1/kg and sell it for $2, you've made a profit. but it's still dog s**t.

as others have said, speak with a financial adviser.

and as others have said - the most obvious option is to maximise the tax benefit available in making extra superannuation contributions. it's really boring, but the returns when factoring in the tax concession is hard to beat (though this depends on your tax bracket obviously).

otherwise, listed investment companies (LICs) or exchange traded funds (ETFs) averaging better returns than you're getting in your offset. again, they're pretty boring but over the long term, fairly reliable. harder to beat your offset in the current environment of course.

my partner and i have a couple investment properties, and also contribute more to super. but i also accept cryptocurrency payments borrowed a bit to buy (mostly) dividend shares in relatively boring companies. i then use the dividends to buy more shares etc. lower overall returns in this high-rates environment, but at least you get a tax break on losses (negative gearing gets a lot of press re property, but nobody seems to care about it for any other asset). more interesting than other options, but more risky too. when i pay off the original loan, i'll either redraw or refinance to buy more shares. it's a slow burn though, so maybe too slow for the OP!
I have to admit, the analogy about crypto being like dog s**t is pretty funny, even if a bit harsh! There's definitely some truth to the idea that just because something goes up in price doesn't necessarily mean it has underlying value.
Cryptocurrency can be a volatile investment, and it's important to be aware of the risks.
Ultimately, the best investment strategy depends on your individual circumstances and risk tolerance. It's wise to do your own research and consider talking to a financial advisor before making any decisions.
 
I think the whole thing is a joke but I don't have a problem with people making (or losing) money off crypto but anyone else with more than, I dunno 20% of their total capital in it has rocks in their head. This goes for any speculative or risky asset.

And this is from someone that has a very high risk for appetite...
I had 50% of my net worth in crypto at one stage and was having sleepless nights. I agree with your suggestion to keep it within a comfortable portion of a total portfolio, which for me is a bit higher than 20%.

I don't see Bitcoin as a speculative asset anymore, but shitcoins - yeah. I don't expect others to agree with me though.
 
I had 50% of my net worth in crypto at one stage and was having sleepless nights. I agree with your suggestion to keep it within a comfortable portion of a total portfolio, which for me is a bit higher than 20%.

I don't see Bitcoin as a speculative asset anymore, but shitcoins - yeah. I don't expect others to agree with me though.

Bitcoin is great.

Shitcoins. They all suck. You better take profits when you get them or the market will take them for you.
 
Bitcoin is great.

Shitcoins. They all suck. You better take profits when you get them or the market will take them for you.
Yes, I'm quick to dump shitcoins at the first sign of trouble - and often before that because I don't want to be a bagholder. And yet, scams pump the hardest and offer the best opportunities. Crypto is truly a juggling act like no other. I love it and hate it.
 
I’d recommend having a lifetime of work plan:

Chase your career early , particularly if it means moving.

Accept a compromise mid-career, careful with your discretionary and take investing risk.

Identify something in your skillset that lets you work at a slow pace until you drop, something you want to do.

That’s my game anyway, currently in mid career compromise as other life events take precedent.

Kind of looking forward to slow down stage.


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I’d recommend having a lifetime of work plan:

Chase your career early , particularly if it means moving.

Accept a compromise mid-career, careful with your discretionary and take investing risk.

Identify something in your skillset that lets you work at a slow pace until you drop, something you want to do.

That’s my game anyway, currently in mid career compromise as other life events take precedent.

Kind of looking forward to slow down stage.


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Would love to hear more about this. Expanded insight into the same thinking - if you're happy to share.
 

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Would love to hear more about this. Expanded insight into the same thinking - if you're happy to share.

Happy to.

In the spirit of this thread, my main point by the ramblings below is my goal hasn’t ever been to retire, it’s to with time, work more efficiently and effectively.

I’ve come to realize my life/career is really 3 phases; high energry, appreciation and giving back. For context I work in finance

High energy:
Started off at a large firm in Australia, worked long hours but also partied a lot. Met a lot of different people and had a wide range of people.

Moved abroad to continue my chase of different experiences. Much of the same as the above but in a different country, being an Aussie abroad comes with a fair bit of positive and some negative notoriety, all good.

My main regret from this period was spending too much time at uni, I unnecessarily extended my time and soon realized that doing the same things at 22 isn’t the as fun as when I did them at 19. Probably spent too much money on alcohol to be fair.

Appreciation:
I’m currently here, I’ve come to realize that the high energy pursuits are best left to 35 and earlier. My goals here are to work hard enough to provide for my family and maintain the relationships I have. I’m living the typical mid manager / middle aged dad life and completely content.

Main regret so far is I’m not good at speaking up for myself when I feel under appreciated. My peers from the high energy days who are ahead of me at this stage do a great job of walking if they don’t get what they want.

Giving back:
This is what I assume will be the end, goals will relate to creating financial support for my children and giving back to the community. I’d like to achieve this through finance , but I’m more than happy working at Bunnings as a greeter. Ideally I’d like to earn some income until I can’t physically get out of bed.

My main regret I suspect in this phase will be not earning more in the appreciation phase ;).


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I read the book 'The Frugal Hedonist' over the weekend which touched on this quite a bit. It's a short read (4-5 hours) and explores a number of different ways to drastically reduce your costs, allowing you more time and money to travel or work part time rather than being stuck in the rat race. Highly recommended for anyone who's interested in this topic.
 
Happy to.

In the spirit of this thread, my main point by the ramblings below is my goal hasn’t ever been to retire, it’s to with time, work more efficiently and effectively.

I’ve come to realize my life/career is really 3 phases; high energry, appreciation and giving back. For context I work in finance

High energy:
Started off at a large firm in Australia, worked long hours but also partied a lot. Met a lot of different people and had a wide range of people.

Moved abroad to continue my chase of different experiences. Much of the same as the above but in a different country, being an Aussie abroad comes with a fair bit of positive and some negative notoriety, all good.

My main regret from this period was spending too much time at uni, I unnecessarily extended my time and soon realized that doing the same things at 22 isn’t the as fun as when I did them at 19. Probably spent too much money on alcohol to be fair.

Appreciation:
I’m currently here, I’ve come to realize that the high energy pursuits are best left to 35 and earlier. My goals here are to work hard enough to provide for my family and maintain the relationships I have. I’m living the typical mid manager / middle aged dad life and completely content.

Main regret so far is I’m not good at speaking up for myself when I feel under appreciated. My peers from the high energy days who are ahead of me at this stage do a great job of walking if they don’t get what they want.

Giving back:
This is what I assume will be the end, goals will relate to creating financial support for my children and giving back to the community. I’d like to achieve this through finance , but I’m more than happy working at Bunnings as a greeter. Ideally I’d like to earn some income until I can’t physically get out of bed.

My main regret I suspect in this phase will be not earning more in the appreciation phase ;).


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I've always liked the idea of being financially in a position where work is a choice, not a necessity.

Build up passive investments, find something you're passionate about.

If you're really lucky, what makes you money and what you're passionate about can be the same things.
 
I've always liked the idea of being financially in a position where work is a choice, not a necessity.

Build up passive investments, find something you're passionate about.

If you're really lucky, what makes you money and what you're passionate about can be the same things.

Agreed.

Diligently contributing to super and then identifying a part-time job later in life that you don't mind is an achievable goal for most people and allows for the slowdown people desire.
 

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Ideas to retire/work less earlier

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