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  • tpr2
    replied
    For Monid and the crew on earlier posts of this thread.

    This is from core data in Oz and because NZ has a reasonable correlation to Oz I post it for general back slapping and congratulations to be had for PTer's

    Remeber oz has approx 20 million people so the 172,000 HNWI with over 1,000,000 dollars of investable assets actually only make up .86% of the population.

    The 21,000 with investable assets of over 3mill are only .11%

    So congrats to the fairly significant proportion of Pter's that make it into the top 1% and congrats to all of those on the ladder and climbing towards what ever level you are looking for.

    cheers

    Terry



    What's In A NameOne of the things we are big on here at CoreData-brandmanagement is semantics – the science of saying exactly what we mean, after all clear communication is one of the challenges of working in research.
    This is important in the context of high net worth (HNW) individuals because there isn’t a standard definition of what exactly constitutes a financially wealthy person in Australia.
    Therefore in the interests of clarity we have devised some definitive descriptions of the nation’s rich.
    CoreData-brandmanagement formulated these after combining a variety of information sources - but primarily data derived from Australian Bureau of Statistics (ABS) and four years of group research on Australia’s rich.
    The definitions aren’t exhaustive, how could they be? And to a large extent they make use of the most basic of behavioral segmentations, but as a catch all they will have to do:

    It’s worth noting that this breakdown doesn’t cover behaviour and our research has indicated that behaviour differs across and within these segments.
    For example the number of people who have retired with $1 million of investable assets – as opposed, for example, to the number of $1 million-plus 40 year olds who are still earning money display very different behaviour.
    As do the number of people who fit the description of core affluent who are fast heading towards their first million.
    What is critical to remember in this is that investment behaviour begins to change when an individual acquires more than $750,000 in investable assets - it’s at this stage they tend to start to look for real diversification, wealth preservation and making serious decisions about their money.
    More than three quarter’s of HNWs are male and most of them are over 50. And approximately slightly more than half of both male and female HNWs derive their income from owning all of or part of a small business – indeed an Australian HNWI is six times more likely than average to own all of or part of a business.
    ABS data shows average incomes in the capital cities in Australia are 16% above those outside the capital cities.

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  • waiopehu24
    replied
    Ow I reciently moved down a level....Yes!

    Leave a comment:


  • Julian
    replied
    Well banks are certainly aware of these costs. These are very real costs if you are cashing up investments. By stating your nett worth in hard currency (ie $NZ) you are giving the impression of your nett worth in this currency. To turn your properties into cash these costs will be incurred. Simple. It is the same if you have money in fixed term loans. If you are working out your current nett worth, the cost of breaking these loans must be taken into account.

    Whether you believe me or not, it is probably better to err on the side of caution, underestimate your nett worth and be pleasantly surprised, should you have to cash up, than the opposite.

    Julian

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  • xris
    replied
    Originally posted by Julian View Post
    Back to the thread, I wonder how many people are downgrading their nett worth now that the market seems to have turned.

    I also wonder how many people include selling costs on the debt side of the ledger when they work out their nett worth. These can be significant and include agent costs, legal costs, advertising/marketing costs, reclaimed depreciation, and costs for breaking fixed term loans.

    If any of you intend to turn your investments into cash these are real costs you will incur. Your true nett worth, in cash, will be far less than your selling price less your debt.

    Julian
    Hello Julian,

    I agree that selling costs should be taken into account if anyone is considering selling up, but I am not so sure that these costs should be used when working out nett worth. They are after all a seperate issue.

    If I have three properties worth $900,00 and a debt of $700,000 my nett worth is $200,000.

    If I sold up my selling costs may come to $30,000 but they may not. This sum is not an amount does not go on the liabilities side of the balance sheet, or does it?

    xris

    Leave a comment:


  • Julian
    replied
    Back to the thread, I wonder how many people are downgrading their nett worth now that the market seems to have turned.

    I also wonder how many people include selling costs on the debt side of the ledger when they work out their nett worth. These can be significant and include agent costs, legal costs, advertising/marketing costs, reclaimed depreciation, and costs for breaking fixed term loans.

    If any of you intend to turn your investments into cash these are real costs you will incur. Your true nett worth, in cash, will be far less than your selling price less your debt.

    Julian

    Leave a comment:


  • Glen
    replied
    Originally posted by wenlee View Post
    Well for the past couple of months I have been in the beautiful Hawkes Bay.

    Mainly Taradale and Napier. Art Deco weekend is a must if you have never experienced it
    People dress up in 20's 30's clothes, and get into a 1930's art deco theme which lasts about 5 days. The weather was perfect for the event. Heaps to do and see which adds up to a wonderful ambience

    The laid back atmosphere in Hawkes Bay is a real change from Auck plus the colourful houses with little or no grafitti disgracing the community is a breath of fresh air

    Work has been apple picking, it is very hard work and not very well paid. The benefits to me are Physically I can mix it with people half my age , Eating REALLY fresh fruit and veges, meeting some lovely people from all over the world and my dog thinks she is in heaven having the run of the orchard

    For me this is a great way of sitting tight and see how things pan out

    The motorhome is insulated si it doesn't get really cold or hot

    All in all I am enjoying this experience and would do it again

    I'll be on the move in a couple of weeks so i'll write again soon

    Wendy

    Awesome stuff! Sounds Great!

    We hire a 4/5/6 berth motorhome(whatever's available) every year at least a couple of times during the off season for 1 or 2 weeks each time, and take the kids out of school and cruise round the south island, but nothing like what you're doing.

    We love the freedom, and the feeling of being somewhere different each day, or finding someplace cool and staying put.....and we take the dogs (2 jack russells) who just love the running 'round on beach an bush.

    This year we're off up Wellington way in a couple of weeks, for 2 weeks, and then 8 weeks later in July we're heading south for iceskating on the lakes, and biking over the mountains (Haast Pass etc), then up the whole of the west coast to Karamea, and then back through Lewis Pass, over to Kaikoura, and back to Christchurch.
    You gotta love NZ aye, you have beach, bush, mountains, tracks, vineyards, cities etc all within a couple or three hours between each!

    Keep us posted on your adventure

    Glen

    Leave a comment:


  • wenlee
    replied
    Update

    Well for the past couple of months I have been in the beautiful Hawkes Bay.

    Mainly Taradale and Napier. Art Deco weekend is a must if you have never experienced it
    People dress up in 20's 30's clothes, and get into a 1930's art deco theme which lasts about 5 days. The weather was perfect for the event. Heaps to do and see which adds up to a wonderful ambience

    The laid back atmosphere in Hawkes Bay is a real change from Auck plus the colourful houses with little or no grafitti disgracing the community is a breath of fresh air

    Work has been apple picking, it is very hard work and not very well paid. The benefits to me are Physically I can mix it with people half my age , Eating REALLY fresh fruit and veges, meeting some lovely people from all over the world and my dog thinks she is in heaven having the run of the orchard

    For me this is a great way of sitting tight and see how things pan out

    The motorhome is insulated si it doesn't get really cold or hot

    All in all I am enjoying this experience and would do it again

    I'll be on the move in a couple of weeks so i'll write again soon

    Wendy

    Leave a comment:


  • Glen
    replied
    Originally posted by wenlee View Post
    Hello everyone

    Well I only have 3 investments and they more or less look after themselves.
    The way I look at it they are increasing in equity so when I get back I have more choices

    I blame Tim Ferriss. As he says, why wait until you are 60ish for retirement. Have small retirements every so often. That really got me thinking and here I am. Its surprising how little you need

    Have been in the Coromandel for about 5 weeks. Te Puru. On the weekend I am moving on around Coromandel then working my way down the east coast.
    I am traveling with my dog, who has lost a heap of weight, a bonus, as we walk for miles

    I am in search of work. So if any of you know of anything going on the east coast, will consider anything.

    [email protected]

    Wendy,

    Howz about an update on where you're at?

    Howz the travelling and work goin?

    Are you in the south island yet?,....theres always plenty of work down here!

    Glen.

    Leave a comment:


  • wenlee
    replied
    Hello everyone

    Well I only have 3 investments and they more or less look after themselves.
    The way I look at it they are increasing in equity so when I get back I have more choices

    I blame Tim Ferriss. As he says, why wait until you are 60ish for retirement. Have small retirements every so often. That really got me thinking and here I am. Its surprising how little you need

    Have been in the Coromandel for about 5 weeks. Te Puru. On the weekend I am moving on around Coromandel then working my way down the east coast.
    I am traveling with my dog, who has lost a heap of weight, a bonus, as we walk for miles

    I am in search of work. So if any of you know of anything going on the east coast, will consider anything.

    [email protected]

    Leave a comment:


  • NZGEMS
    replied
    Hi Wendy so that is why your emails are bouncing back have you done away with that too or are you just not on it much> Good on you anyway.

    and Donna, what is a weekend? I thought life was just one big holiday?? feels like it to me these days anyway. Thats why I am not on here as much.
    TOo busy having fun.

    Leave a comment:


  • donna
    replied
    This reminds me of Tim Ferrus and his '4 hour work week focus'. I like the lifestyle choice of working any day and take time off any day so the concept of a 'weekend' is not relevant. It's hard work creating new habits to move away from the 9-5 Mon-Fri mentality....shaking off the guilt feeling and we are a wee way off achieving our goal of a 4 hour work week.

    It is encouraging seeing other people jumping into different lifestyles - testing the waters to find out how best to get the most out of life as they know it.

    Well done Wendy....maybe you could post regular updates here? We as your property investment online 'family' are very interested in developments.

    Cheers,

    Donna

    ....umm you may be near a meet in another region too so check out the Events & Charities forum.

    Leave a comment:


  • Glen
    replied
    Originally posted by xris View Post
    Helo Wendy,

    I'd be interested in hearing more about this new direction of yours.

    xris

    Same here! Sounds great!
    Similar thinking to myself.

    Leave a comment:


  • xris
    replied
    Originally posted by wenlee View Post
    Yes
    Was thinking about this alot as I wasn't happy with what I was doing.
    I don't need $1,000,000, TV, paperwork etc. All I wanted was a rest and to get away from the rat race

    Have bought a motorhome, rented out my house and now I am traveling NZ working odd jobs.

    I don't know how long this will last but I have discovered I have so many more options and no stress

    Wendy
    Hello Wendy,

    I'd be interested in hearing more about this new direction of yours.

    xris
    Last edited by xris; 12-01-2008, 04:55 PM. Reason: typos

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  • wenlee
    replied
    Yes
    Was thinking about this alot as I wasn't happy with what I was doing.
    I don't need $1,000,000, TV, paperwork etc. All I wanted was a rest and to get away from the rat race

    Have bought a motorhome, rented out my house and now I am traveling NZ working odd jobs.

    I don't know how long this will last but I have discovered I have so many more options and no stress

    Wendy

    Leave a comment:


  • Glen
    replied
    Originally posted by banana View Post
    Do you (anyone) ever feel like turning the equity into cash and going on a big trip and throwing a massive party?

    Sometimes when the work/life balance is out I just want to escape.
    NO!....Committed all the way! Material items as such don't interest me an' i'll stick to the plan!

    Leave a comment:

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