Barefoot investor

Anything!

Re: Barefoot investor

Postby carey » Fri Sep 07, 2018 8:20 pm

For mine I don’t know enough regarding shares I’ve also seen my boss lose thousands and thousands in super Crash a few years ago so I’ve invested in real estate. Brought my first house in 2006 and I now have 4.

Trader is spot on in terms of your mortgage I kept borrowing against the investments keeping ‘my’ mortgage as low as I could.

Might not be the highest % return but as I said I’m not educated enough on shares or stocks for me to invest in.
you've gota keep on keep'n on .........
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Re: Barefoot investor

Postby bennymacca » Fri Sep 07, 2018 9:12 pm

carey wrote:For mine I don’t know enough regarding shares I’ve also seen my boss lose thousands and thousands in super Crash a few years ago so I’ve invested in real estate. Brought my first house in 2006 and I now have 4.

Trader is spot on in terms of your mortgage I kept borrowing against the investments keeping ‘my’ mortgage as low as I could.

Might not be the highest % return but as I said I’m not educated enough on shares or stocks for me to invest in.


He mostly advocates indexed funds which basically automatically buy the top 300 companies on the stock market

I don’t know anything about share either really but I’d like to start with a small amount, like 2-5k and start from there
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Re: Barefoot investor

Postby Wedgie » Fri Sep 07, 2018 9:42 pm

Only thing I would have done differently when I was younger would be to never buy a house, and thats despite the fact my house cost 90k and is worth about 400k now. If only I could have my time again I could have been semi retired at 40 not 46.
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Barefoot investor

Postby bennymacca » Fri Sep 07, 2018 11:27 pm

Wedgie wrote:Only thing I would have done differently when I was younger would be to never buy a house, and thats despite the fact my house cost 90k and is worth about 400k now. If only I could have my time again I could have been semi retired at 40 not 46.


why is being semi retired so important to you?

I know you had jack of your old career, but surely you realise it has severely limited your earning potential?

Obviously happiness is much more important than money, and the flexibility you have now would be great.
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Re: Barefoot investor

Postby Booney » Sat Sep 08, 2018 8:06 am

Back the side playing against Geelong in a final.

Easy money.
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Re: Barefoot investor

Postby Wedgie » Sat Sep 08, 2018 9:15 am

bennymacca wrote:
Wedgie wrote:Only thing I would have done differently when I was younger would be to never buy a house, and thats despite the fact my house cost 90k and is worth about 400k now. If only I could have my time again I could have been semi retired at 40 not 46.


why is being semi retired so important to you?

I know you had jack of your old career, but surely you realise it has severely limited your earning potential?

Obviously happiness is much more important than money, and the flexibility you have now would be great.

You've summed a lot of it up in your last line, add to that I only have to work 20 hours in a job I love to maintain my previous income when I was cooped up in an office all day most days and it was a no brainer. My previous job was OK and tbroughout my career I did many different jobs, you could always move to a different area if bored when in the biggest government department in the land. Got very jack of working in an office, the politics and the sort of people that were gradually becoming a majority, completely different place in the late 80s/early 90s.

I'm also a lot healthier and where I used to have to get out of bed between 6 and 6.30am for almost 30 years I now can sleep in till noon if I want.

Have a lot more time to do other things besides work like helping out my kids.

My earning potential hasn't been limited at all, been recently offered 2 full time jobs which I turned down which would have taken my total income of well over 110k pa.

I'm very lucky in that I was in the best super of all time (it could never return a negative figure) that the government had to sell Telstra to fund, also very lucky I chose the only super that didn't penalise a person for retiring before the age of 55 (most are higher than that now too).

Throw in the massive redundancy and I could go back to my old job anytime with a massive amount of money still in my account and the ongoing pension.

I would have been an idiot to not to be semi retired! Have more than enough money and am as happy as a pig in shit! :D
Even give hundreds to my ex to help pay for the kids food, etc even though my kids are 19 and 22. She earns over 110k a year but it seems like the right thing to do till the kids are out of uni, etc.
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Re: Barefoot investor

Postby Armchair expert » Sat Sep 08, 2018 10:03 pm

Wedgie wrote:I always upped my super especially when I knew I wasn't going to spend a lifetime with my ex.
Paid off too, at the age of 46 I already had no house payments to worry about, got a 60k lump sum and a 40k PA indexed pension for the rest of my life.
I could almost live off that if I chose not to drink or go out but as I do I still need to work most days! :lol:



How did you get this?
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Re: Barefoot investor

Postby Wedgie » Sat Sep 08, 2018 11:12 pm

Armchair expert wrote:
Wedgie wrote:I always upped my super especially when I knew I wasn't going to spend a lifetime with my ex.
Paid off too, at the age of 46 I already had no house payments to worry about, got a 60k lump sum and a 40k PA indexed pension for the rest of my life.
I could almost live off that if I chose not to drink or go out but as I do I still need to work most days! :lol:



How did you get this?

By requesting a voluntary redundancy and putting more into my super than I needed to for 28.5 years. The figures above dont include the lump sum I got from my redundancy. Pension could have been higher too but I chose to take a lot of my pre 1999 contributions as a lump sum, they brought a rule in for 2000 onwards that stopped that.
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Re: Barefoot investor

Postby GWW » Sat Feb 05, 2022 2:20 pm

Now that Facebook/Meta shares have crashed I'm thinking of buying some.

Anyone got any tips on what to consider and the process for buying them? Ive never bought any shares before so I don't really know ow much about the process.
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Re: Barefoot investor

Postby DOC » Sun Feb 06, 2022 8:27 am

This link explains the process. https://www.finder.com.au/buy-facebook-shares All the ratings agencies like this one and Canstar etc. have a similar link.

They will and do direct you to the brokers and trading platforms that they are linked to (that is their list is not exhaustive).

Buying foreign shares will give you a different tax scenario than buying Australian shares also as there is currently no capital gains tax.
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Re: Barefoot investor

Postby Jimmy_041 » Sun Feb 06, 2022 1:52 pm

DOC wrote:This link explains the process. https://www.finder.com.au/buy-facebook-shares All the ratings agencies like this one and Canstar etc. have a similar link.

They will and do direct you to the brokers and trading platforms that they are linked to (that is their list is not exhaustive).

Buying foreign shares will give you a different tax scenario than buying Australian shares also as there is currently no capital gains tax.


You sure about that?
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Re: Barefoot investor

Postby DOC » Sun Feb 06, 2022 3:44 pm

Thanks Jim for pointing that out as that is not quite correct. And if this is not still correct please advise:

I should have ended that last sentence with "if you have paid a capital gain tax in the USA".

Whilst you have to declare and pay the Capital Gains Tax on the sale, should you sell at a higher price, you can claim a foreign income tax offset for this amount IF the capital tax gain has been paid in the USA.

The same goes for the dividend income as Australia and the USA have a Double Tax Agreement. Any dividends are taxed in the USA. However, you are required to declare all your foreign income on your Australian tax return. So, you will need to declare your dividends on your Australian tax return. To avoid paying tax both in the USA and Australia you will need to claim a foreign income tax offset for the foreign tax you paid.

In short, if the taxes are paid in the USA you will not pay a second time.
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Re: Barefoot investor

Postby stan » Sun Feb 06, 2022 4:34 pm

I don't want to be giving any advice on the issue of shares or at least Meta shares, however the experts do say "never catch a failing knife"
Read my reply. It is directed at you because you have double standards
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Re: Barefoot investor

Postby Jimmy_041 » Sun Feb 06, 2022 5:47 pm

DOC wrote:Thanks Jim for pointing that out as that is not quite correct. And if this is not still correct please advise:

I should have ended that last sentence with "if you have paid a capital gain tax in the USA".

Whilst you have to declare and pay the Capital Gains Tax on the sale, should you sell at a higher price, you can claim a foreign income tax offset for this amount IF the capital tax gain has been paid in the USA.

The same goes for the dividend income as Australia and the USA have a Double Tax Agreement. Any dividends are taxed in the USA. However, you are required to declare all your foreign income on your Australian tax return. So, you will need to declare your dividends on your Australian tax return. To avoid paying tax both in the USA and Australia you will need to claim a foreign income tax offset for the foreign tax you paid.

In short, if the taxes are paid in the USA you will not pay a second time.


I/m not an accountant but have been an expat (a non-resident for tax purposes).
I've done all of my investing through Hong Kong so haven't paid CGT in the US
I think you only pay tax in the US if you are a citizen or resident.

You can buy/sell overseas shares in Australia
Here you go: https://www.bosshunting.com.au/hustle/h ... lia-guide/
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Re: Barefoot investor

Postby DOC » Sun Feb 06, 2022 6:17 pm

If that is the case then you would be liable for both CGT and income tax in Australia.

Perhaps consulting a professional is the best advice.
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Re: Barefoot investor

Postby Psyber » Tue Feb 08, 2022 3:45 pm

My share portfolio is in two accounts in a self managed Super Fund where there are tax benefits, and there is also an advantage to closing one account and opening and drawing from the other each year.

Outside the Super fund I've stuck with real estate.
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Re: Barefoot investor

Postby DOC » Sun Feb 13, 2022 3:36 pm

GWW wrote:Now that Facebook/Meta shares have crashed I'm thinking of buying some.

Anyone got any tips on what to consider and the process for buying them? Ive never bought any shares before so I don't really know ow much about the process.


lost another 7% this week.
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Re: Barefoot investor

Postby Psyber » Sun Feb 13, 2022 5:46 pm

I keep adding reliable shares to my self-managed super fund and ride out the fluctuations. I haven't sold any since 2008. CBA cost me $60 a share then and recently were at $98. Of course they go up and down.

I'll have to have a look again soon - lately I've accumulated too much cash not earning much at the moment, even if it is only 25% of my portfolio.
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Re: Barefoot investor

Postby amber_fluid » Mon Feb 14, 2022 4:24 pm

Psyber wrote:I keep adding reliable shares to my self-managed super fund and ride out the fluctuations. I haven't sold any since 2008. CBA cost me $60 a share then and recently were at $98. Of course they go up and down.

I'll have to have a look again soon - lately I've accumulated too much cash not earning much at the moment, even if it is only 25% of my portfolio.


Transfer the cash to me, I’ll spend it wisely!
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Re: Barefoot investor

Postby DOC » Tue Feb 22, 2022 1:24 pm

GWW wrote:Now that Facebook/Meta shares have crashed I'm thinking of buying some.

Anyone got any tips on what to consider and the process for buying them? Ive never bought any shares before so I don't really know ow much about the process.


Did you get any?

Down from $323 on Feb 2 to $206 now. BIG loss.
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