Looking forward to the next one, very nice article.
As a German geo that landed in Perth very recently, I start to see what you and Jordan are talking about. Will figure out the details myself - and take the money.
Thanks mate - Look Perth is a great place if you have a decent middle-class salary, a missus and want to settle down in one of the nice suburbs and have a family, nothing wrong with that.
Just for me, the thought of doing that gives me crushing anxiety, and being forced to live there during covid for 3 bloody years, and seeing how close-minded and complicit the population was... Could not wait to leave! 😅
Well, I'm here for less than a month now I and I agree. It can be a nice place, but I haven't gotten warm with it much. It just for a period of time for me anyway and likely I'll to go other places in Australia as well, but I see much of your and Jordan's criticism here.
Currently, I'm staying at a questionable AirBnb in a rather bad part of Perth (just for a week) and that is.. well.. intersting to see.
And these endless suburbs... I couldn't live there. No way.
hi there enjoyed reading your post. I'm also mid 30s worked in mining in Perth since I was 23. Similar to you attaining financial independence was important and have strived for this through active investing. About a year ago, I had high conviction on Perth investment property and put all my chips on this one thematic which so far has panned out very well. Current net worth is sitting around A$2m (before paying CGT if I was to liquidate) which I am planning to cash out through debt recycling (to buy more properties or etf if market tanks). I will say one thing that was a game changer was leverage for me as my net worth has gone up exponentially. I realise there is more risk but I see debt as part of a portfolio which has advantages and I believe in being 100% active in investing if wanting to secure financial freedom.
You probably won't agree with most of it but that's fine! I am certainly the odd one out here.
Agree with you 💯 on property leverage, it's how 97% of Australians have made their wealth, and its how the whole system & zeitgeist in Australia is set up for.
I have found investing in asymmetric stocks the best way to do this at this point in my life. Gives me the ability to travel and live overseas while the portfolio grinds higher, zero debt,, and I don't have to work or do anything! (just watch my spending..).
Guess I'm different because even at 34 I'm still figuring out exactly what I want in the future; But for me now what is most important is entrepreneurship, location-independent income from 💻, and breaking tax ties with Australia (which means NO assets in Australia in the long term) & getting residencies overseas.
And yeah, aahh Perth.. 😂 Worked FIFO for about 8 years, lived there for about 5, it's a nice place to settle down raise a family etc if you have a decent income (awesome for camping etc), but tbh I found it SO stagnant & boring 😆 Not a place to live while in my 20s & 30s or invest my life in. Covid was a nail in the coffin for me, had to get out of there..
Congrats on the property though! I remember looking into debt recycling years ago.
Whatever you decide to do, put that capital to work, and good luck! 🙌
I’ve just started my own journey in a similar mold to you guys. Starting with a year or so driving around Australia in my Troopy then over to Mexico headed south.
Looking forward to the next one, very nice article.
As a German geo that landed in Perth very recently, I start to see what you and Jordan are talking about. Will figure out the details myself - and take the money.
Cheers!
Thanks mate - Look Perth is a great place if you have a decent middle-class salary, a missus and want to settle down in one of the nice suburbs and have a family, nothing wrong with that.
Just for me, the thought of doing that gives me crushing anxiety, and being forced to live there during covid for 3 bloody years, and seeing how close-minded and complicit the population was... Could not wait to leave! 😅
Well, I'm here for less than a month now I and I agree. It can be a nice place, but I haven't gotten warm with it much. It just for a period of time for me anyway and likely I'll to go other places in Australia as well, but I see much of your and Jordan's criticism here.
Currently, I'm staying at a questionable AirBnb in a rather bad part of Perth (just for a week) and that is.. well.. intersting to see.
And these endless suburbs... I couldn't live there. No way.
haha, very boring and VERY flat!
Get down to the Margaret River Region if you have time mate, and even down to Denmark, its bloody beautiful down there.
If you have the funds then I would recommend flying up to Broome and seeing part of the Kimberly, its stunning. But yes Perth, boring as fk haha.
Yep, that's both on the list for later. Especially the south looks pretty nice indeed. 👌🏻
Great post mate.
Keep writing.
hi there enjoyed reading your post. I'm also mid 30s worked in mining in Perth since I was 23. Similar to you attaining financial independence was important and have strived for this through active investing. About a year ago, I had high conviction on Perth investment property and put all my chips on this one thematic which so far has panned out very well. Current net worth is sitting around A$2m (before paying CGT if I was to liquidate) which I am planning to cash out through debt recycling (to buy more properties or etf if market tanks). I will say one thing that was a game changer was leverage for me as my net worth has gone up exponentially. I realise there is more risk but I see debt as part of a portfolio which has advantages and I believe in being 100% active in investing if wanting to secure financial freedom.
Nice mate! Appreciate that, still surprised anyone reads this 😂
Wrote about my thoughts on property investing here if you haven't read it: https://wrighty626.substack.com/p/how-my-investing-philosophy-evolved
You probably won't agree with most of it but that's fine! I am certainly the odd one out here.
Agree with you 💯 on property leverage, it's how 97% of Australians have made their wealth, and its how the whole system & zeitgeist in Australia is set up for.
I have found investing in asymmetric stocks the best way to do this at this point in my life. Gives me the ability to travel and live overseas while the portfolio grinds higher, zero debt,, and I don't have to work or do anything! (just watch my spending..).
Guess I'm different because even at 34 I'm still figuring out exactly what I want in the future; But for me now what is most important is entrepreneurship, location-independent income from 💻, and breaking tax ties with Australia (which means NO assets in Australia in the long term) & getting residencies overseas.
And yeah, aahh Perth.. 😂 Worked FIFO for about 8 years, lived there for about 5, it's a nice place to settle down raise a family etc if you have a decent income (awesome for camping etc), but tbh I found it SO stagnant & boring 😆 Not a place to live while in my 20s & 30s or invest my life in. Covid was a nail in the coffin for me, had to get out of there..
Congrats on the property though! I remember looking into debt recycling years ago.
Whatever you decide to do, put that capital to work, and good luck! 🙌
Nice article 👍
I’ve just started my own journey in a similar mold to you guys. Starting with a year or so driving around Australia in my Troopy then over to Mexico headed south.
Sweet! I'll prob be back in Mexico early next year, hopefully getting residency 🇲🇽
Good work mate! Looking forward to catching up you and Jordo over in Latin America.
When are you coming over mate!