
It's been a big big big last 7 days for me. So, if you're up for a story, strap in and read on!.....
As I read the newspapers I come more and more to terms that all my pipe dreams of working and travelling to see the world are but that... pipe dreams... it's something myself and my still relativley new boyfriend Sean have come to terms with.
If you can imagine that you meet a man that strikes you as someone you have known all your life, even though you obviously haven't, that is what Sean is for me. We have only been together for a short time, yet feel as though it were a lifetime. We share similar goals and wants from life, and have accepted that with the recession comes the 10 years of uphill struggle that isn't condusive to working and travelling the world. We stand to risk too much, brankrupcy, being stranded in a foregin country, the loss of my property... so we've changed.
I have begun to form a 10 year plan that involves the turning of my residency into an investment rental, and moving in to a property with Sean that he will buy, one of course that will be larger than mine. Then of course, once that property is up and running, and all things are going well, we will pruchase a 50/50 share in a bigger better property again and this will become our residential living whilst our two seperate properties bring in almost enough rental to cover the mortgage repayments!
I have in mind the aim to invest a maximum of $700,000 on a business and bring it up to parr. Use all profits to pay off the mortgage and possibly expand the business if there is a calling for it. Said business will have a proven track record over a minimum of 15 years so I can see that it stands the test of time. It will be in an industry that isn't as affected by the ebbs and flows of finance, an industry needed and always required. Once this business is in full swing and running smoothly, another $700,000 max will be invested in a secondary business. Both businesses will be under management freeing both Sean and I to continue to focus on our fulltime jobs whilst we chose to, but having the flexibility of moving full time into the business in the event babies come along the way.
So, in 10 years I aim to have 2 businesses and 3 properties bought and paid for. These will provide income to travel on. Out of it I want to continue to invest profits into more managed funds and move onto purchasing managed apartments and hotel rooms all over Australia and eventually the globe for our globe trotting needs. I want to pay my parents mortgage off and also purchase for them a retirement home. I plan, by the time I am 34, to have 207,000 rolling into my bank account for no other reason than my investments and by the time I am 45 to have 500,000 rolling in thanks to investments. This is the point where I will stop and wisk my family and Seans family off for a month vacation wherever we chose!