Quote:
Originally Posted by Unregistered
You lead an (should I say) interesting lifestyle for someone whose income varies quite widely (wildly). For how long have you been earning this range of income? And what is your all up net worth and annual expenses? Also you called yourself "uncle", I presumed you are in your late 40s or 50s?
You see, our HH income is $450k to $500k pa and our lifestyle could not be more different. Yes we have 2 properties and 2 cars, but the cars are your regular reliable jap cars. Other than that we lead very simple lifestyle eating at home mostly except for weekends. As such our annual expenses is around $100k-$120k pa.
I guess we come from different backgrounds and moved in different circle of friends.
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Early 50s here. I'm in business for just shy of 20 years and lifestyle funded partially from distributions. Uncle's recent annual expenses are approximately 175K-190K+/-
Based on current market trends, you should be doing considerably well. And yes, 2 properties denote certain social status and there is nothing wrong with 2 reliable Jap cars which serve the purposes of A-B.
What uncle can impart is not about striking rich but balancing out desired lifestyle in life. It has been some years since enlightenment and really fortunate to take a leap of faith in reits, stocks, bonds and index funds during the early days, cash flow has changed since. Networth is based on valuations and seemed to be inflated, perhaps I may need to engage a professional valuator?
Uncle confessed that different circles made a difference but that is not permanent, you are youraelf and nothing will ever stop you in achieving success.