so, happy new one n' all
it's still a case of :
1. pay down home mortgage as quick as you can,
2. pay off and cut up credit cards, or failing that, use them responsibly,
and pay off the balance owing each month,
3. own your own business, work for youself, no-one else will pay you what
you're worth
4.
5. Happy New Year 2005!!

From:	sarge
Subject:	Re: '05 strategy
Date:	Fri, 31 Dec 2004 22:52:35 GMT

Playing Devil's Advocate

RippA wrote:
> so, happy new one n' all
> it's still a case of :
> 1. pay down home mortgage as quick as you can,

Strategy myth no.1: This is not the best thing to do. The best thing to
do is don't have a mortgage - rent (at current cost:house values it is a
better option). The second best thing to do is to recycle your
debt, take slightly longer to pay out the mortgage and invest over a
longer time frame, this will see you end up better off over the longer term.

> 2. pay off and cut up credit cards, or failing that, use them responsibly,
> and pay off the balance owing each month,

Can't argue with this one.

> 3. own your own business, work for youself, no-one else will pay you what
> you're worth

Some people are very good at what they do, but very bad at running their
own business. So don't work for yourself if you do not have the skills
to run the business. If you feel that you are not getting paid what you
are worth, then there may be two reasons (a) you are worth more; or (b)
you have an over inflated sense of your worth. Make sure you know which
one is true.

> 4.

Money isn't everything. Be prepared to take a significant drop in your
income in order to get the lifestyle you desire. If your happy in your
personal life, it is amazing how it can then be reflected in your work
life (and sometimes income).

> 5. Happy New Year 2005!!

And to you too.

>

From:	yi-chan
Subject:	Re: '05 strategy
Date:	Fri, 7 Jan 2005 19:11:14 +1000

"sarge" wrote in message
news:TKkBd.97932$K7.95922@news-server.bigpond.net.au...
> Playing Devil's Advocate
>
> RippA wrote:
>> so, happy new one n' all
>> it's still a case of :
>> 1. pay down home mortgage as quick as you can,
>
> Strategy myth no.1: This is not the best thing to do. The best thing to do
> is don't have a mortgage - rent (at current cost:house values it is a
> better option). The second best thing to do is to recycle your debt, take
> slightly longer to pay out the mortgage and invest over a longer time
> frame, this will see you end up better off over the longer term.

Curious. How do you determine cost:house value and reach this conclusion?

From:	Fitzroy
Subject:	Re: '05 strategy
Date:	Fri, 07 Jan 2005 10:53:02 GMT

"yi-chan" wrote in message
news:41de51a7$0$5646$5a62ac22@per-qv1-newsreader-01.iinet.net.au...
>
> "sarge" wrote in message
> news:TKkBd.97932$K7.95922@news-server.bigpond.net.au...
> > Playing Devil's Advocate
> >
> > RippA wrote:
> >> so, happy new one n' all
> >> it's still a case of :
> >> 1. pay down home mortgage as quick as you can,
> >
> > Strategy myth no.1: This is not the best thing to do. The best thing to
do
> > is don't have a mortgage - rent (at current cost:house values it is a
> > better option). The second best thing to do is to recycle your debt,
take
> > slightly longer to pay out the mortgage and invest over a longer time
> > frame, this will see you end up better off over the longer term.
>
>
> Curious.

I dont blame you.

> How do you determine cost:house value and reach this conclusion?

Very difficult to do a proper valuation and arrive at that conclusion.

Assuming rents will rise in line with inflation,
the economic value of an owner occupied property is
arrived at by discounting in PERPETUITY the annual
rent (of the property of the desired location and standard)
by the REAL long-term interest rate.
(all numbers after-tax by definition)

Residential property for investors is of much less
economic value (rents taxed, CGT).
Residential property is the domain of the owner-occupier.

Having said that, if and when you acquire a mortgage,
you really must attack it aggresively in the early
years. When you build up some equity in your home,
you are really in business. Nobody can access cheaper
funds than an owner-occupier with home equity.
This really lifts the performance of your subsequent
investments.

From:	Diamond Jones
Subject:	Re: '05 strategy
Date:	Sun, 2 Jan 2005 18:07:54 +1100

> Playing Devil's Advocate
>
> RippA wrote:
>> 1. pay down home mortgage as quick as you can,
>
> Strategy myth no.1: This is not the best thing to do. The best thing to do
> is don't have a mortgage - rent (at current cost:house values it is a
> better option). The second best thing to do is to recycle your debt, take
> slightly longer to pay out the mortgage and invest over a longer time
> frame, this will see you end up better off over the longer term.

From a purely numbers point of view I agree, but one must be disciplined and
there lies the problem...

>> 2. pay off and cut up credit cards, or failing that, use them
>> responsibly, and pay off the balance owing each month,
>
> Can't argue with this one.

ditto

>> 3. own your own business, work for youself, no-one else will pay you what
>> you're worth
>
> Some people are very good at what they do, but very bad at running their
> own business. So don't work for yourself if you do not have the skills to
> run the business. If you feel that you are not getting paid what you are
> worth, then there may be two reasons (a) you are worth more; or (b) you
> have an over inflated sense of your worth. Make sure you know which one is
> true.

Wholeheartedly agree. Speaking from experience, I intend to re-enter the
workforce this year.

>> 4.
>
> Money isn't everything. Be prepared to take a significant drop in your
> income in order to get the lifestyle you desire. If your happy in your
> personal life, it is amazing how it can then be reflected in your work
> life (and sometimes income).

ditto

>> 5. Happy New Year 2005!!
>
> And to you too.

ditto

From:	Pauline Andrews
Subject:	Re: '05 strategy
Date:	Sat, 01 Jan 2005 09:12:57 +1100

sarge wrote:

> > 4.
>
> Money isn't everything. Be prepared to take a significant drop in your
> income in order to get the lifestyle you desire. If your happy in your
> personal life, it is amazing how it can then be reflected in your work
> life (and sometimes income).

Amen to that. Probably the most valuable piece of wisdom you'll ever
read. Overwork, stress, worry and financial problems are the cause for
everything else. It is easy to fall into the trap of living beyond your
means, but it is even easier to live happily with far less income than
what you now earn. It's just a matter of priorities and lifestyle. My
combined income in 2000/2001 was over $130,000 - last year it was just
over $40,000. But, we have never ever been happier nor have we had as
much money in the bank. However, it gets better. Having time to spare,
has led to opportunities that we couldn't avail ourselves to normally.
So our income is set to sour once more - but the lifestyle won't change
(as much as possible).

From:	stan the man
Subject:	Re: '05 strategy
Date:	Sat, 01 Jan 2005 09:51:30 GMT

confidence practice knowledge can lead to financial independence.getting
stuck on that wealth generation misses the point and is often driven by
ego-love of making money /fear of losing it.

financial independence can always be regenerated once you know and master
it.

They say greed is the fear of want.
If you have those skills you need have no fear.

The forces fear and love in this world drive everything.
Which one do you want to live under?

"Pauline Andrews" wrote in message
news:41D5CEE9.2445B49B@hotmail.com...
> sarge wrote:
>
> > > 4.
> >
> > Money isn't everything. Be prepared to take a significant drop in your
> > income in order to get the lifestyle you desire. If your happy in your
> > personal life, it is amazing how it can then be reflected in your work
> > life (and sometimes income).
>
> Amen to that. Probably the most valuable piece of wisdom you'll ever
> read. Overwork, stress, worry and financial problems are the cause for
> everything else. It is easy to fall into the trap of living beyond your
> means, but it is even easier to live happily with far less income than
> what you now earn. It's just a matter of priorities and lifestyle. My
> combined income in 2000/2001 was over $130,000 - last year it was just
> over $40,000. But, we have never ever been happier nor have we had as
> much money in the bank. However, it gets better. Having time to spare,
> has led to opportunities that we couldn't avail ourselves to normally.
> So our income is set to sour once more - but the lifestyle won't change
> (as much as possible).

From:	Yif
Subject:	Re: '05 strategy
Date:	Sat, 01 Jan 2005 21:22:02 GMT

RippA wrote:
> 4.

If you see a big wave/trend & you cant ride it then get out of it's way !
> 5. Happy New Year 2005!!

6. If you're a wage slave then join the revolution(I've got better
things to do, no work day;-)

From:	Fitzroy
Subject:	Re: '05 strategy
Date:	Sun, 02 Jan 2005 06:56:08 GMT

"Yif" wrote in message
news:_vEBd.98993$K7.53394@news-server.bigpond.net.au...
> RippA wrote:
> > 4.
>
> If you see a big wave/trend & you cant ride it then get out of it's way !

There is a 2 week moratorium on Tsunami jokes.
Fine after that.

9-11 jokes are ok, though a bit passe

From:	B J Foster
Subject:	Re: '05 strategy
Date:	Mon, 03 Jan 2005 11:11:21 +1100

Fitzroy wrote:
> "Yif" wrote in message
> news:_vEBd.98993$K7.53394@news-server.bigpond.net.au...
>
>>RippA wrote:
>>
>>>4.
>>
>>If you see a big wave/trend & you cant ride it then get out of it's way !
>
>
> There is a 2 week moratorium on Tsunami jokes.
> Fine after that.
>
> 9-11 jokes are ok, though a bit passe
>
>

In the case of the Tsunamis, at least we know who was responsible

From:	Fitzroy
Subject:	Re: '05 strategy
Date:	Mon, 03 Jan 2005 01:30:20 GMT

"B J Foster" wrote in message
news:41D88DA9.9040807@yahoo.com...
>
>
> Fitzroy wrote:
> > "Yif" wrote in message
> > news:_vEBd.98993$K7.53394@news-server.bigpond.net.au...
> >
> >>RippA wrote:
> >>
> >>>4.
> >>
> >>If you see a big wave/trend & you cant ride it then get out of it's way
!
> >
> >
> > There is a 2 week moratorium on Tsunami jokes.
> > Fine after that.
> >
> > 9-11 jokes are ok, though a bit passe
> >
> >
>
> In the case of the Tsunamis, at least we know who was responsible
>

Sir Jean-Paul.

He missed Sydney by 5,000 miles, almost took out Singapore.
A good shot nevertheless, but he needs to work on his aim and control.

(My Tsunami joke moratorium has lasted less than a Gaza strip cease-fire)

From:	B J Foster
Subject:	Re: '05 strategy
Date:	Mon, 03 Jan 2005 14:32:53 +1100

Fitzroy wrote:
> "B J Foster" wrote in message
> news:41D88DA9.9040807@yahoo.com...
>
>>
>>Fitzroy wrote:
>>
>>>"Yif" wrote in message
>>>news:_vEBd.98993$K7.53394@news-server.bigpond.net.au...
>>>
>>>
>>>>RippA wrote:
>>>>
>>>>
>>>>>4.
>>>>
>>>>If you see a big wave/trend & you cant ride it then get out of it's way
>>>
> !
>
>>>
>>>There is a 2 week moratorium on Tsunami jokes.
>>>Fine after that.
>>>
>>>9-11 jokes are ok, though a bit passe
>>>
>>>
>>
>>In the case of the Tsunamis, at least we know who was responsible
>>
>
>
>
> Sir Jean-Paul.
>
> He missed Sydney by 5,000 miles, almost took out Singapore.
> A good shot nevertheless, but he needs to work on his aim and control.
>
> (My Tsunami joke moratorium has lasted less than a Gaza strip cease-fire)
>
>
>

Got it in one ;-)

NZ had an 8.1 quake 3 days before the 9 Asian quake.
Maybe JPT's aim is better than we think.

From:	Kevin Ettery
Subject:	Re: '05 strategy
Date:	Mon, 03 Jan 2005 08:08:22 GMT

"B J Foster" wrote in message
news:41D8BCE5.4080806@yahoo.com...
>
>
> Fitzroy wrote:
> > "B J Foster" wrote in message
> > news:41D88DA9.9040807@yahoo.com...
> >
> >>
> >>Fitzroy wrote:
> >>
> >>>"Yif" wrote in message
> >>>news:_vEBd.98993$K7.53394@news-server.bigpond.net.au...
> >>>
> >>>
> >>>>RippA wrote:
> >>>>
> >>>>
> >>>>>4.
> >>>>
> >>>>If you see a big wave/trend & you cant ride it then get out of it's
way
> >>>
> > !
> >
> >>>
> >>>There is a 2 week moratorium on Tsunami jokes.
> >>>Fine after that.
> >>>
> >>>9-11 jokes are ok, though a bit passe
> >>>
> >>>
> >>
> >>In the case of the Tsunamis, at least we know who was responsible
> >>
> >
> >
> >
> > Sir Jean-Paul.
> >
> > He missed Sydney by 5,000 miles, almost took out Singapore.
> > A good shot nevertheless, but he needs to work on his aim and control.
> >
> > (My Tsunami joke moratorium has lasted less than a Gaza strip
cease-fire)
> >
> >
> >
>
> Got it in one ;-)
>
> NZ had an 8.1 quake 3 days before the 9 Asian quake.
> Maybe JPT's aim is better than we think.

Yeah, but even I can predict a quake AFTER it has happened!

From:	Yowza
Subject:	Re: '05 strategy
Date:	Mon, 03 Jan 2005 00:18:04 +1100

Yif wrote:

> RippA wrote:
>
>> 4.
>
>
> If you see a big wave/trend & you cant ride it then get out of it's way !
>
>> 5. Happy New Year 2005!!
>
>
> 6. If you're a wage slave then join the revolution(I've got better
> things to do, no work day;-)

I assume you've set yourself up? eg no mortgage/rent/debts etc...?

From:	Yowza
Subject:	Re: '05 strategy
Date:	Mon, 03 Jan 2005 00:17:03 +1100

RippA wrote:

> so, happy new one n' all
> it's still a case of :
> 1. pay down home mortgage as quick as you can,

Done.

> 2. pay off and cut up credit cards, or failing that, use them responsibly,
> and pay off the balance owing each month,

Done.

> 3. own your own business, work for youself, no-one else will pay you what
> you're worth

Too lazy for that, + I'm way overpaid for what I do.

> 4.

Work part-time?

> 5. Happy New Year 2005!!
>
>

I think it will be sensational.