Author Topic: Australian Case Study: Newbies to MMM - where to start?  (Read 18034 times)

Gockie

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #50 on: April 17, 2015, 04:29:27 AM »
Tinyfrankie,

My motivation for FIRE stems from the desire to move back to Newcastle! My wife and I had to move to Sydney for work, hope to be able to move back in the not too distant future. We are regularly up there visiting family so can always catch up?

Gockie,

I'm just around the corner from Parramatta, and can make it on the 30th if the meet up is on.
John nerd, great!

Here is the link for the meetup thread.... Would love to have a few people join!
http://forum.mrmoneymustache.com/meetups-and-social-events/sydney-meetup/msg630888/?topicseen#msg630888

tinyfrankie

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #51 on: April 18, 2015, 04:05:24 AM »
Hi tinyfrankie,
I'll be up in Newcastle on May 9-10 if you want a catchup?

Gockie, That might be a good plan! Let me know closer to then if you are still coming up and we can organise something.

Tinyfrankie,

My motivation for FIRE stems from the desire to move back to Newcastle! My wife and I had to move to Sydney for work, hope to be able to move back in the not too distant future. We are regularly up there visiting family so can always catch up?

Johnners - Work can be hard to come by here so that's understandable. When do you think you'll be up next?


On another note - did some reading and video watching today finally!

Am I right in that if/when we do go down the stock market path..

1. DCA is best for my age (with payments to come from my regular income) but to be avoided in retirement?
2. An index fund (say with Vanguard) will be better than an EFT due to lower entry and no need for a broker?

Does anyone have any thoughts on the Australian dollar's decline? Thoughts on Harry Dent?





happy

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #52 on: April 18, 2015, 05:21:38 AM »
Quote
John nerd, great!

Don't you love this speller checker?

tinyfrankie

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #53 on: April 18, 2015, 05:22:59 AM »
happy - I had a chuckle at that one :)

Gockie

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #54 on: April 18, 2015, 08:12:51 AM »
Damned iPad autocorrect! So often I enter words spelt correctly and it autocorrects to something completely wrong....

marty998

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #55 on: April 18, 2015, 09:01:32 AM »
30th sounds fine to me.

Johnners

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #56 on: April 18, 2015, 05:33:00 PM »
Tinyfrankie,

You will find most of the info you need on EFTs v Funds on a recent thread,

http://forum.mrmoneymustache.com/investor-alley/etf-of-index-mutual-fund-help-me-decide-%28aus%29/msg587023/#msg587023

Ultimately it will come down to personal preference. How much you plan to invest at one time? (reducing the overall expense ratio), but also how much time and effort you are willing to put in yourself.

Also, we will be up in Newy next weekend (25th). Could catch up in one of the 101 coffee shop up there?

Gockie,

John nerd, haha, one of the funnier auto corrects I have come across!


tinyfrankie

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #57 on: April 19, 2015, 04:22:35 AM »
Hey Johnners,

Thanks for the link I'll take a look!

Unfortunately I don't think we can do next weekend. I'm not sure of the details yet but I'm fairly sure we have ANZAC day commemorations to attend.

You are right on the 101 coffee shops though!


Bornfreelivefree

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #58 on: April 29, 2015, 11:14:48 PM »
Hey Frankie,

Actively reading along. My wife and I have been frugal, now mustaschian, for the length of our relationship (7 years). We have struggled at times given high incomes and a very easy to enjoy lifestyle. Financial strength is one of the great strengths in our relationship, it is years since I have worried about money, autopilot is very firmly engaged. I live just up the coast (Crescent Head if you have ever been) but I visit Newcastle once a week for meetings for my business interests (property development). I would be happy to take some time to run through some information in person or even just catch up for a chat. I am one of those weird engineer mustachian types that love numbers and investments, I can talk for hours on it, but I have found not a lot like to listen.

A few points:

Educate yourself first, I am happy that you're doing it in the right order. Yes, you cannot really go wrong with index funds but one year is not going to make or break it.
Newcastle market is hot, very hot and will stay that way for a few years, however, the fundamental economics have to charge (they don't make sense) or the government has to intervene.
Having been away from Newcastle for a few years, what a change. Seeing the railway line cut has given it a brand new lease of life. Lots of developments and new cafes are really starting to put a spring in step of the city.

I will be in Newy next Tuesday (5th May) and probably for a few days the week after, let me know if something suits.

BFLF

KiniGula

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #59 on: April 29, 2015, 11:29:59 PM »
Not sure if anyone has said this yet Frankie, but if you're going to open up a brokerage account, I'd recommend doing it when you know what you want to buy and the quantities, etc. With Commsec, you can sometimes get free brokerage for three months, so you can go in with a plan, buy a bunch and not worry about the cost of brokerage while you figure things out.

Cheers.

Scott

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #60 on: April 29, 2015, 11:50:27 PM »
Just noticed this string. Nice to know there are a few of us up on the coast near Newcastle, I am in Hallidays Point, good place to early retire as "MMM luxury" living costs suprisingly little in my book. If there's ever a general meet up mid coast would be fun to chat.

tinyfrankie

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #61 on: May 02, 2015, 11:26:11 PM »
Hi all,

Thanks for continuing to post in my absence. There have been a couple of life events that have required my attention and the learning has been put on hold temporarily. I'll post again once things have settled and I can get my head back into all of this.

Thanks again for your input and for those who have suggested a meet up I hope to do that one day soon.

Cheers,

Tinyfrankie.

This_Is_My_Username

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« Reply #62 on: June 05, 2015, 09:46:59 PM »
following

stripey

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Re: Australian Case Study: Newbies to MMM - where to start?
« Reply #63 on: August 13, 2015, 09:15:07 AM »
Me too! Hi! ;)