Retirement and self-sabotage in South Africa

[zerocool2009]

So you keep on crowing, when having a go at "wage-slaves". But yet refuse to tell us how....hmmm. If I were a suspicious person...

And everything's relative. You may not be working, but just scraping by...

Lol, its like bank rewards. Learn the system!

If you can, get a bond, rent it out... and it snowballs in time

 

[surface]

So you keep on crowing, when having a go at "wage-slaves". But yet refuse to tell us how....hmmm. If I were a suspicious person...

And everything's relative. You may not be working, but just scraping by...

"how" is easy, isn't it though? Over last 10 years, I have read many threads where people have bought their first property as young as 21 (if I recall correctly) and then kept on buying. I think there are many here on myBB who own at least 10+ property each. That should get at least 60K per month income at a minimum ?

 

[saturnz]

So you keep on crowing, when having a go at "wage-slaves". But yet refuse to tell us how....hmmm. If I were a suspicious person...

And everything's relative. You may not be working, but just scraping by...

what has this got to do with EWC or inflation?

 

[Splinter]

what has this got to do with EWC or inflation?

it's based on your previous posts here my friend

 

[Splinter]

"how" is easy, isn't it though? Over last 10 years, I have read many threads where people have bought their first property as young as 21 (if I recall correctly) and then kept on buying. I think there are many here on myBB who own at least 10+ property each. That should get at least 60K per month income at a minimum ?

You have? Many? I've been here a while, but haven't seen that many. And while it may have been much easier to buy properties back in the day, you still needed to work to afford them. Depends on what capital you have to start with as well.

 

[saturnz]

it's based on your previous posts here my friend

and my previous posts I brought up within the context of inflation and EWC

and it should also be noted from previous posts, I didn't bring the issue of my properties into this conversation

 

[zerocool2009]

You have? Many? I've been here a while, but haven't seen that many. And while it may have been much easier to buy properties back in the day, you still needed to work to afford them. Depends on what capital you have to start with as well.

Get a bond, use the banks money! Learn how Sars can come into the picture to help you.

I have a few properties. My motto is: double my bond repayment, or rather, never spend 1c on rental income.

The hardest is to pay that bond off, or to show profit. Once you see profit, you just buy more... and so it snowballs!

At a stage you will see how feasible it is buying property cash (as others fund it for you)

 

[Splinter]

and my previous posts I brought up within the context of inflation and EWC

and it should also be noted from previous posts, I didn't bring the issue of my properties into this conversation

But you responded on it, and said comments are fair game.

 

[saturnz]

But you responded on it, and said comments are fair game.

in your opinion

 

[Splinter]

in your opinion

Do you disagree? Do you think it's not allowed in terms of the rules of the forum?

 

[saturnz]

Do you disagree? Do you think it's not allowed in terms of the rules of the forum?

The rules and terms probably do not refer to comments made as "fair game".

 

[surface]

Do you disagree? Do you think it's not allowed in terms of the rules of the forum?

What is it that you are looking for? He is not going to give away his secrets of wealth if that is what you are looking for. And why should he?

 

[Splinter]

The rules and terms probably do not refer to comments made as "fair game".

It's a figure of speech

 

[Splinter]

What is it that you are looking for? He is not going to give away his secrets of wealth if that is what you are looking for. And why should he?

Oh come on man. He keeps on disparaging people who work, so I think it's quite reasonable to delve into his little property portfolio. Besides, I really don't think he is as well off as he portrays, and have my own thoughts as to his "secrets" (lol) of "wealth".

 

[surface]

Oh come on man. He keeps on disparaging people who work, so I think it's quite reasonable to delve into his little property portfolio. Besides, I really don't think he is as well off as he portrays, and have my own thoughts as to his "secrets" (lol) of "wealth".

Sure, but I don't see why he would lie (in financial context, religion is different matter). He has been trading in US stocks as well. There are 2 guys on carbonite who list opulent properties on KZN coast (airbnb links or some such or holiday accom) and they are hardly 25 (if they put age correct on carbonite). One can guess how they got there but how would I know for sure?

Also, it is on everyone's conscience to say that they earned everything by themselves. There is no way we can prove/disprove this. Arnold got it right IMO. https://www.marketplace.org/2017/05/12/schwarzenegger-self-made-man-myth/

 

[Splinter]

Sure, but I don't see why he would lie (in financial context, religion is different matter). He has been trading in US stocks as well. There are 2 guys on carbonite who list opulent properties on KZN coast (airbnb links or some such or holiday accom) and they are hardly 25 (if they put age correct on carbonite). One can guess how they got there but how would I know for sure?

Also, it is on everyone's conscience to say that they earned everything by themselves. There is no way we can prove/disprove this. Arnold got it right IMO. https://www.marketplace.org/2017/05/12/schwarzenegger-self-made-man-myth/

I can trade in US stocks. Dude, there are always exceptions - doesn't make it the norm.

 

[cguy]

Oh come on man. He keeps on disparaging people who work, so I think it's quite reasonable to delve into his little property portfolio. Besides, I really don't think he is as well off as he portrays, and have my own thoughts as to his "secrets" (lol) of "wealth".

FWIW, I have noticed that he doesn’t claim to be wealthy explicitly. Rather, that he is someone who is approaching early retirement from an “I need a reliable source of passive income, and I need my expenditure to be lower than that”, perspective.

So my guess is that he probably doesn’t have a whole lot of “wealth” (measured in money), but rather is prioritizing time. Where someone else may have two X5’s he’s got the whole day to himself while the other person goes to work everyday.

Feel free to correct if you wish @saturnz.

 

[Splinter]

FWIW, I have noticed that he doesn’t claim to be wealthy explicitly. Rather, that he is someone who is approaching early retirement from an “I need a reliable source of passive income, and I need my expenditure to be lower than that”, perspective.

So my guess is that he probably doesn’t have a whole lot of “wealth” (measured in money), but rather is prioritizing time. Where someone else may have two X5’s he’s got the whole day to himself while the other person goes to work everyday.

Feel free to correct if you wish @saturnz.

I'm not sure how you have missed the pertinent parts of the dialogue.

He doesn't work (so no early retirement for him), and seems to delight in telling people so. And somewhat mocking of those who do. When I quoted the term "wage-slaves", it wasn't something I made up.

 

[cguy]

I'm not sure how you have missed the pertinent parts of the dialogue.

He doesn't work (so no early retirement for him), and seems to delight in telling people so. And somewhat mocking of those who do. When I quoted the term "wage-slaves", it wasn't something I made up.

I didn't miss it, I just chose not to comment on it.

I've commented on this type of thing quite a few times:
https://mybroadband.co.za/forum/thr...-and-how-do-you-spend-it.114952/post-27575697

I obviously don't agree with mocking people who work, but it's hardly that offensive - I've always seen the term as a rhetorical device to drive home that for quite a few people, their situation is a matter of choice, or at least one that they could conceivably plan/strategize their way out of if they became more aware of their situation. Of course it's not always a choice, in which case I would see it more as sharp commentary than ridicule.

 

[Splinter]

I didn't miss it, I just chose not to comment on it.

I've commented on this type of thing quite a few times:
https://mybroadband.co.za/forum/thr...-and-how-do-you-spend-it.114952/post-27575697

I obviously don't agree with mocking people who work, but it's hardly that offensive - I've always seen the term as a rhetorical device to drive home that for quite a few people, their situation is a matter of choice, or at least one that they could conceivably plan/strategize their way out of if they became more aware of their situation. Of course it's not always a choice, in which case I would see it more as sharp commentary than ridicule.

I'm sorry, but now you and I are going to have a robust chat - and will have nothing to do with odd science/math that most of us cannot grasp

It is of course offensive. Calling people who work, "wage-slaves", is not, in your opinion? Just because you make more than most while working, how does it make you oblivious to such? Because you want to tell us all how you could be retired now?

PS - most of your posts that I have seen are about how much you earn, and how you did it. Ok, you rich. Now, get back on topic.