Goals & Aspirations

[MAC]

Well there you go forum folk, if you’ve built your portfolio to NZ$970k, you are, apparently, officially now a one percenter.

http://www.nbr.co.nz/article/nearly-3-kiwis-are-one-percenters-oxfam-ng-167589

Congratulations to all those, for what it’s intrinsically really worth to be a one percenter, I suppose it could be a measure of financial success in life, amongst life’s other more meaningful measures.

To those with aspirations, good investing and good fortune to you, now you have an official goal to work toward.

[dingoNZ]

So basically anyone in Auckland central suburbs who is mortgage free is a one percenter (HNI?)? Seems flawed given our housing situation. It should be based off 'liquid assets', IMO.

[BFG]

My goal is to be a net worth millionaire by 40. First billionaire TA'er by 65 :p

[silu]

My goal is not to work passed 55. So I have another 13 years to build up my portfolio.

[pierre]

Being a one per center never was a goal of mine but am well past it.
My goal for this year is to see PEB, DIL, BLT, HNZ and XRO get me to the top of the stock picking contest by year end - and take my portfolio higher too!

[Minerbarejet]

Being a one per center never was a goal of mine but am well past it.
My goal for this year is to see PEB, DIL, BLT, HNZ and XRO get me to the top of the stock picking contest by year end - and take my portfolio higher too!
You just want that bottle of gin thats on offer.:)

[pierre]

Forgot about that - but yes that's an even more important aspiration!

[couta1]

Being a one per center never was a goal of mine but am well past it.
My goal for this year is to see PEB, DIL, BLT, HNZ and XRO get me to the top of the stock picking contest by year end - and take my portfolio higher too!
I was a one percenter and if Peb,Dil and Xro perform well this year I will be again along with removing some dirty big red arrows off my portfolio so our goals are the same.

[RGR367]

Only on net of $970K? I would consider that a shallow goal and not even enough to retire on :) :p

[Harvey Specter]

So basically anyone in Auckland central suburbs who is mortgage free is a one percenter (HNI?)? Seems flawed given our housing situation. It should be based off 'liquid assets', IMO.It is a very flawed calculation. Any recent Uni graduate with a student loan (including doctors) are at the bottom of the heap as they have negative networth. However, the villager in Africa with no access to debt but does own a few cows has postive net worth. So obviously third world citizens should donate a goat to our poor graduate doctors.

[Onion]

My goal is not to work passed 55. So I have another 13 years to build up my portfolio.

I'd like to be 40 by the time I'm 55 but don't know how to turn the clock back:t_down:.

[Beagle]

So basically anyone in Auckland central suburbs who is mortgage free is a one percenter (HNI?)? Seems flawed given our housing situation. It should be based off 'liquid assets', IMO.

Perhaps you're right but maybe Aucklanders who are debt free are out of touch with reality now with our new found status :)
The council tell me my debt free home is now worth $1.425m...I'm scared for my forthcoming rates bill :eek2:

[Jay]

Yes exactly Roger - a lot of older and not so old in that camp - asset rich cash poor - can't eat your house!

[pierre]

I was a one percenter and if Peb,Dil and Xro perform well this year I will be again along with removing some dirty big red arrows off my portfolio so our goals are the same.

I'm extremely fortunate to have my entire nzx portfolio in blue - but I took punts on some asx oilers that haven't paid off so a bit of red ink on that side of the ledger. I think it will be a long while before there's any change there!

[gv1]

My goal is to be a net worth millionaire by 40. First billionaire TA'er by 65 :p

Yeah, became one in my 30's but billionaire is another thing, I guess.

[skid]

i suppose it would be relevant to think about what are the goals and aspirations of those who already have 3-4 mill--thats where it starts getting complicated--Are you content?-Or do you want another 3-4 mill--Or perhaps just dont want to lose your original 3-4mill.

[Zaphod]

i suppose it would be relevant to think about what are the goals and aspirations of those who already have 3-4 mill--thats where it starts getting complicated--Are you content?-Or do you want another 3-4 mill--Or perhaps just dont want to lose your original 3-4mill.

For many, it's about the journey and succeeding at your business and general investment goals, rather than just obtaining vast quantities of cash. Those that concentrate purely on the dollar, often do not succeed.

[troyvdh]

Dear snap...I have always thought and told ..anyone listening...that NZ ers were probably the best around at working for the stuff...but one of the worst around at keeping the stuff......cheers.

[skid]

Agreed--I became an ''accidental one percenter'' (property) not because I wanted to acquire huge amounts of wealth. But more because I like to fix things up. Everything else was a byproduct.---How was I to know that Auckland property would rocket.
In the words of Bob Dylan---''I cant help it if Im lucky''----Goals and inspirations--They dont include a Ferarri

[skid]

I am not so sure if I believe in luck......... for me it was the right attitude at the right time, in the right place surrounded by the right people........(was not a master plan well executed.... it just fell into place) perfect recipe to become a 1% much earlier than planned.

OK--I'll take a little bit of the credit--a happy combination of motivation,saving,work,with a good dose of luck:):)

[Everwood]

By 1st January 2022, I want my online stores to be generating revenue at $2 per second.

[MPC]

I am aiming for my net worth to increase by 15% per year. Retire in 6 years and move to a cheap country to live on the beach and drink cocktails inbetween mountainbiking and swimming and seakayaking. Investment income will provide much more than my living expenses.
Cheers,
MPC

[blockhead]

Mountainbike racer MPC ?

[skid]

I am aiming for my net worth to increase by 15% per year. Retire in 6 years and move to a cheap country to live on the beach and drink cocktails inbetween mountainbiking and swimming and seakayaking. Investment income will provide much more than my living expenses.
Cheers,
MPC

One year when we went to Southeast Asia for 3 months and rented our house and it totally paid for our semi budget accommodation--full time though gets tricky with Visas,but i like your approach.--Another option is a 50/50 split, going away for winter.

I made one of my more successful buys,sitting on the porch of my bamboo hut with my net book in Northern Thailand.:)

[RRR]

A very good article about HNI's in stuff!

http://www.stuff.co.nz/business/money/65343370/a-peek-behind-the-doors-of-nzs-private-banks

One thing they have in common - besides a lot of zeroes on their bank balances - is drive - A sentence from the article which caught my eye!

[Minerbarejet]

Apart from waiting for PEB to hit 15.31 I have no particular goals or aspirations at this point.
In fact I dont even know if I'm supposed to be here..:)

[baller18]

So basically anyone in Auckland central suburbs who is mortgage free is a one percenter (HNI?)? Seems flawed given our housing situation. It should be based off 'liquid assets', IMO.
Lol, a property in auckland central can easily be a liquid asset. Even if the house prices suddenly drop by 30% (highly unlikely), homeowners of mount eden, epsom, herne bay, the houses would still easily sell for a million.
So is property not a liquid asset?

[dingoNZ]

Lol, a property in auckland central can easily be a liquid asset. Even if the house prices suddenly drop by 30% (highly unlikely), homeowners of mount eden, epsom, herne bay, the houses would still easily sell for a million.
So is property not a liquid asset?

So you're telling me you can sell a house within a day of it listing and have the money almost immedietly? Perhaps we have a different definition of liquid asset..

[PartyPooper]

I started with nothing and hope to one day see 1 A class berkshire hathaway share in my portfolio. Also lamborghini

[modandm]

This is a great thread. I think setting distant goals, and then achievable shorter term steps towards that long term goal can really help you succeed.

(edit: also there seems to be a number of 1%'ers in our midst already)

A goal that I often think of is to have $10m USD of investment assets. A portfolio of that size would generate c.400k USD of annual income, rising with inflation. With that I think I could do whatever I wanted.

To snapiti's question, I think some people that make a few mill take the foot off the gas. Each to their own, but I think you need to push hard until 10+ before dialing back your risks.

Good luck to everyone with theirs!

[Baa_Baa]

By accident, hard work, good planning, foresight, intuition, insight or whatever, not everyone is going to make it. At least not the first time, or maybe even the second. Even some who have made it are destined for the unforeseen.

My goals this year are to better my return on shares in 2014; learn how to value a company; share my charting and timing experience; and get back on the pony.

It is heartwarming to see how ShareTrader has evolved from the early 2000's to an open and sharing community of wise investors. I really value the wisdom here, it's helping a great deal.

BAA

[baller18]

So you're telling me you can sell a house within a day of it listing and have the money almost immedietly? Perhaps we have a different definition of liquid asset..

I SHould have re-phrased it better.

Your statement, "So basically anyone in Auckland central suburbs who is mortgage free is a one percenter (HNI?)? Seems flawed given our housing situation. It should be based off 'liquid assets', IMO."

My point was, regardless you sell it in a week, in a month, you will get your million dollars, so at the end of the day regardless if it's a liquid asset or not, your net worth is essentially the same which therefore, takes you to that one percenter.

This easily qualifies someone to be associated in the 970k net worth club to be in the one percenter... Regardless if it's a liquid asset or not, makes no difference to someone's net worth at the end of the day.

[iceman]

A very interesting post Baa Baa. Thanks for sharing and give us another "risk" to think about. I agree with you that there is a lot of wisdom and kind sharing of views on this site. Long may it continue and may your pony continue galloping along in 2015.

[skid]

This is a great thread. I think setting distant goals, and then achievable shorter term steps towards that long term goal can really help you succeed.

(edit: also there seems to be a number of 1%'ers in our midst already)

A goal that I often think of is to have $10m USD of investment assets. A portfolio of that size would generate c.400k USD of annual income, rising with inflation. With that I think I could do whatever I wanted.

To snapiti's question, I think some people that make a few mill take the foot off the gas. Each to their own, but I think you need to push hard until 10+ before dialing back your risks.

Good luck to everyone with theirs!

You can look at that a number of ways--one of them would be that you have what you need at 3-4mill(and even alot of what you want) so to put that at risk for the possibility of 10mill means that person either has some pretty grand ''wants'' or it has become about power rather than wealth(and then at 10mill--maybe 20)and so on(its very hard sometimes to stop that train once it gets going)But there have been some real train wrecks along the way(Ive seen it with property,and Im sure with shares as well)---of course there are alot of ''inbetweens''

[skid]

One great byproduct of becoming really wealthy is that it can present an opportunity to do a better job of helping some than the status quo.
Riding a motorcycle through Africa (Garth Morgan)and seeing first hand what was needed(with out the BS)-and then providing it, (with the spoils of the trade me sale)was something I admire.

if only more did it

The goal was not the money itself--but what he did with it..

[fungus pudding]

You can look at that a number of ways--one of them would be that you have what you need at 3-4mill(and even alot of what you want) so to put that at risk for the possibility of 10mill means that person either has some pretty grand ''wants'' or it has become about power rather than wealth(and then at 10mill--maybe 20)and so on(its very hard sometimes to stop that train once it gets going)But there have been some real train wrecks along the way(Ive seen it with property,and Im sure with shares as well)---of course there are alot of ''inbetweens''

An excellent post. Knowing when to stop is crucial, or put another way, knowing where you want to be at the beginning helps tremendously. There's little point in continually building assets and wealth you will never use.
The 970k thing where I live (Dunedin) is easy. I don't think I know anyone worth less than a million and a good few well over. That's probably because houses are cheap leaving a hefty disposable income to invest. e.g. 800,000 will buy a good house and say a student flat returning 30,000 per annum as well.

[Minerbarejet]

is that cps or in $'s miner........:p:pGrowth, per annum.
Ill take dollars though.:)

[RGR367]

I would not consider the house I'm living as a liquid asset and neither should anyone aspiring to be on the so called NZ 1%. When the house is sold you'll still need a roof over your head. Selling your old one and buying a new one will still take some time. So called liquid assets are those that can be disposed right away in as short as a week, I reckon. And that $970K net should be enjoyed and make sure you're healthy enough to enjoy the "fruits of your toils" for another 20-30 years comfortably.

[Minerbarejet]

I hope you mean share growth per annum and not revenue growth.
15% sales growth from here will equal 15.31cps for sure.:pDividend growth, snap, not to be sneezed at.:)
Realise there might be a bit of a wait but no hurry ,eh.

[Bjauck]

I now aim to achieve a 5-6% return,after modest living costs and after tax, above inflation on total asset base(not hard to do if you own a home in Auckland but I don't).
We have had a few good years of appreciating asset values so achieving a 5-6% in the future will be even more of a challenge. Share prices are even more prone to wild swings than house prices. Remember 1987, 2008, and ?

A couple retiring with a house and $2m in financial assets may still only have approximately $70,000 after tax income plus government super. It may provide a comfy but not an extravagant lifestyle. Private Medical bills, major house repairs, private hospital fees (without government subsidy as you would not qualify) for one partner may easily put a dent in the asset base and income. I think you may need those assets PLUS a fat Kiwisaver or other retirement scheme balance.

[macduffy]

We have had a few good years of appreciating asset values so achieving a 5-6% in the future will be even more of a challenge. Share prices are even more prone to wild swings than house prices. Remember 1987, 2008, and ?

A couple retiring with a house and $2m in financial assets may still only have approximately $70,000 after tax income plus government super. It may provide a comfy but not an extravagant lifestyle. Private Medical bills, major house repairs, private hospital fees (without government subsidy as you would not qualify) for one partner may easily put a dent in the asset base and income. I think you may need those assets PLUS a fat Kiwisaver or other retirement scheme balance.


It depends how much of the $2m in financial assets is invested in NZ shares paying imputed dividends. The conventional "financial adviser" rule of thumb to increase the proportion of bond-type assets in one's portfolio with advancing age isn't paying too well in these times of low interest rates.

[Bjauck]

It depends how much of the $2m in financial assets is invested in NZ shares paying imputed dividends. The conventional "financial adviser" rule of thumb to increase the proportion of bond-type assets in one's portfolio with advancing age isn't paying too well in these times of low interest rates. Still after a few good years, if there is a sudden correction for whatever reason you may be pleased to have got into those low-interest term deposits!

Asset mix does play a big part...If you put a large part in NZ shares you may get get the imputation credits but then your "safe" large holdings may go all Chorus on you! You can buy overseas shares for greater diversification but then you have exchange risk etc.. No matter. you certainly need to have a healthy cash buffer and asset buffer to protect yourself from being caught out by a market swing just when you need a large amount of cash in retirement...

[macduffy]

No argument there. Asset mix, diversification and cash reserves are all required but a net 3.5% on $2m is setting an excessively low "goal and aspiration", IMO.

[Stranger_Danger]

An excellent post. Knowing when to stop is crucial, or put another way, knowing where you want to be at the beginning helps tremendously. There's little point in continually building assets and wealth you will never use.


Really? What if one just finds it fun? I've been building wealth I'll never use for ages. It keeps me out of bars, significant taxes are paid and the whole lot will likely go to charity. In the meantime, I have a lot of fun.

It may be a shallow existence, but I find there to be enough of a point to keep me going. It certainly beats the other alternatives, for me anyway.

[skid]

It depends how much of the $2m in financial assets is invested in NZ shares paying imputed dividends. The conventional "financial adviser" rule of thumb to increase the proportion of bond-type assets in one's portfolio with advancing age isn't paying too well in these times of low interest rates.

relative to what we had before ,interest rates are low--relative to most ofter western countries we are doing pretty well--its easier to get some income and still stay relatively(but not completely)safe, here in NZ.
If your an oldie,logic would say to concentrate on keeping your dosh as safe as possible.

[davflaws]

Really? What if one just finds it fun? I've been building wealth I'll never use for ages. It keeps me out of bars, significant taxes are paid and the whole lot will likely go to charity. In the meantime, I have a lot of fun.

It may be a shallow existence, but I find there to be enough of a point to keep me going. It certainly beats the other alternatives, for me anyway.

I am reminded of the story about the embezzler who did his employer for more than three million over ten years. When he was finally caught, there was nothing left. He was asked "What did you do with it all?" and replied.
"Expensive wines, expensive drugs, expensive women - and I guess I just wasted the rest!"

Whatever floats your boat.

[skid]

Really? What if one just finds it fun? I've been building wealth I'll never use for ages. It keeps me out of bars, significant taxes are paid and the whole lot will likely go to charity. In the meantime, I have a lot of fun.

It may be a shallow existence, but I find there to be enough of a point to keep me going. It certainly beats the other alternatives, for me anyway.

If its purely for fun,then thats more like a hobby as long as you can do without it-so thats a different matter--but for most its simply a matter of never being able to satisfy that appetite for more.
The danger can be that the goal represents a future happiness that can never be achieved,because there is always more--I believe there has to be something else.
Those mega rich that get involved in charity work seem ,on the face of it ,to be happier people,than those on the power or greed tread mill
I cant say for sure that he is not-but does Donald Trump seem like a happy person ?
In many cases though being a philanthropist can be hard work--Its not easy finding those most in need and figuring out how best to help them.

I think those whose boots were on the ground,like the Garth Morgan's motorcycle trip-and Edmound Hillary who was actively involved in Nepal have a better chance of more efficient results.

It can also be done on a small scale though by setting aside some dosh when visiting a 3rd world country (thats what floats my boat) and giving to those you can see need it ,or contributing to projects like building a water tank for a village--but of course there are other ways that dont require quite so much energy.--ive always found Kiwis are pretty good at that sort of thing.

SD-you seem to have gotten your house in order(important step) It keeps you out of bars--It will probably go to charity some day--Doesnt sound so shallow to me

[Beagle]

You realise you could sell it, move to a small NZ town, buy a very nice house for $425k, and live off the annual earnings on the $1 million capital you have left? You would never need work again. Something I realised when living in Australia, its better to be rich in a small town then poor in a big city :-) Now I just visit the "poor" on holidays LOL
Its crossed my mind believe me...BUT I'd get really bored and I'd miss my kids...well mostly just one of them :) / grandkids / friends / acquaintances. Mrs and I are happy here. Yesterday we wandered down to our local beach...two minute walk away, had a nice swim, had dinner up the road later at one of the best local cafe's, (two minute drive away) e.t.c. I might already have the thick end of the sum you mentioned and enjoy working it to form a significant part of my income as well as enjoying being a professional on a semi-retired basis :) Retiring early as many have mentioned is a goal, the odd person I know who's managed to achieve this inevitably seems to succumb to boredom. Maybe being semi retired and comfortable in one's fifties is a better goal ?
BTW what you've mentioned is definitely an emerging trend. I was talking to the GM of one of the major Australian owned real estate franchises late last year and he mentioned a lo0t of interest is coming from clients looking to downsize from expensive Auckland suburbs into nice properties in small towns / rural area's.

[skid]

You realise you could sell it, move to a small NZ town, buy a very nice house for $425k, and live off the annual earnings on the $1 million capital you have left? You would never need work again. Something I realised when living in Australia, its better to be rich in a small town then poor in a big city :-) Now I just visit the "poor" on holidays LOL

You could probably start a thread on which small town was ideal--Ive been meaning to go have a good look at Keri Keri up North (did I spell that right?):mellow:

[Bjauck]

Perhaps you're right but maybe Aucklanders who are debt free are out of touch with reality now with our new found status :)
The council tell me my debt free home is now worth $1.425m...I'm scared for my forthcoming rates bill :eek2:

As the Super City rates are still being levelled out from the old council ratings, in some parts of Auckland (Manukau and Waitakere for example) your rates bill on a house of that value may actually be reduced. If you are in "old" Auckland in a suburb that has had above average appreciation, then, yes, you may have to stump up for a big increase.

Before the Super City came about, it surprised me that, according to polls, Auckland City ratepayers seemed to be more keen on the idea of a Super City. Inevitably they would end up with hefty rates increases as land values/area were greater there compared with the peripheral council areas....an expensive house for Manukau City is now an average house in Auckland City.

[Beagle]

FWIW I've objected to that council re-valuation. No way is our place really worth $1.425m...maybe $1m. The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.
KW - Good sound advice except for the part where you mentioned getting a dog...you need at least two, preferably three. I'd like a fourth one, is that a bit scary ?...am I a bit dog obsessed :lol:

Lots of interesting comments in here about goals of $3-4m and $10m for early retirement.
Just a few thoughts:-
Do you really need to set the aspirational goal that high ? A well balanced portfolio of investments should return an average of about 6% after tax.
In tandem with National superannuation wouldn't $1m ($60,000 per annum plus Superannuation) do the job in conjunction with a debt free house and give one a comfortable retirement ?
Okay, lets assume you want to travel regularly and have a good time, so maybe $1.5m then ? $90,000 per annum plus Govt superannuation, surely that's enough to be comfortable and contented ?
Having done the Mercedes-Benz S Class and Riviera luxury launch thing, trust me, they're not all they're cracked up to be. Launches are great but break down on an alarmingly regular basis and cost far more than they're really worth to you to run. Mercedes-Benz are nice cars but no way are they worth the outrageous premium over a regular car that the German's ask for them.
Maybe a person finds contentment in the simple pleasures of life as you get older and looks to simply be comfortable....my 2 cents.

[gv1]

The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.

Yeah, I just can't understand the rates increases as house values have increased, on top of that council increases rates by 5-6 %. Whereas all the money going. Whenever I ring them, I get shocking results. My old council was heaps better. Everyone is just fed up with this, just last night one of my relatives was asking me if the whole one city thing can be reversed. Its the consultants and mgt milking all the rates money. These people knows that no matter what rates has to be paid, an investigation on mgt fees, perks etc should start. Lots of kick backs from co's as well.

[Beagle]

The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.

Yeah, I just can't understand the rates increases as house values have increased, on top of that council increases rates by 5-6 %. Whereas all the money going. Whenever I ring them, I get shocking results. My old council was heaps better. Everyone is just fed up with this, just last night one of my relatives was asking me if the whole one city thing can be reversed. Its the consultants and mgt milking all the rates money. These people knows that no matter what rates has to be paid, an investigation on mgt fees, perks etc should start. Lots of kick backs from co's as well.

I totally agree with what you are saying mate. Its absolutely outrageous. I want a full investigation into where all the extra money is going. We were promised new efficiencies and rate decreases with the new super city not exorbitant increases !!!!!! After many years of rate increases at significantly faster than the rate of inflation they now think they're doing us a favour with rate increases of about 4% for residential ratepayers when inflation is less than 1%.
What planet are these self serving so called "public servants" on ???????

[Beagle]

I've been following the mrmoneymustache blog and he reckons a 4% drawdown of capital is what you should aim for. So pare your expenses back to the minimum you need and work from there. If you are mortgage free, single with no kids to support, then $40k might be all you need to spend on bills and frivolities, so $1 mil is enough. I find that as I have most of everything I need these days, I have been giving myself a pay cut each year. So I'm living on about $24k a year plus whatever I choose to spend on overseas holidays, car purchase, new computer, renovations etc (which are not purchased every year so easy to budget for).

If you are not working you save so much money. You dont need to spend money on transport, nice clothes and shoes (last clothes purchase was $15 track pants from Farmers, although I might soon need to replace my jandals), takeaway lunches and coffees, after work drinks at the pub ....

Totally agree. Isn't it ironic that people on wages and salary can spend a considerable sum of money each week, (especially if you live in a major city with commuting and parking costs), specifically for the purpose of earning income and yet those expenses are not tax deductible from one's salaried income ?
I can totally relate to where you're coming from but I suspect many people want to experience some real luxury and extravagance for themselves which is perfectly understandable. I guess the danger in setting a high capital accumulation goal is that one can potentially become inclined towards a myopic fixated vision of attaining same to the potential detriment of living a happy balanced life or paradox-ably give up and splurge on unnecessary junk through discontent at the lack of progress. Maybe setting a realistic goal that allows a more balanced approach to life is the optimum path, I guess that's the nub of what's I'm suggesting. An old accountant once said to me its about finding the right balance to life. Work, rest, play, financial freedom, family, friends, hobbies, community, time for God....not necessarily in that order :) He seemed pretty contented to me and lived to an old age in a lovely home by the sea.

[Beagle]

Or....you could have 20 hours of free time and the Mercedes :D Sounds good KW but I sense unless you get a challenge boredom could be around the corner for you ?

[Beagle]

Well after successfully wasting most of the day LOL I'd better do an hour's real work before knocking off...the Merc needs a service soon :)

[skid]

The super city has been a disaster as far as I'm concerned. Rates were about $2.5K, now we're looking at $4K if I didn't object, which is why I have. Don't start me up about that philandering weasel Len Brown.

Yeah, I just can't understand the rates increases as house values have increased, on top of that council increases rates by 5-6 %. Whereas all the money going. Whenever I ring them, I get shocking results. My old council was heaps better. Everyone is just fed up with this, just last night one of my relatives was asking me if the whole one city thing can be reversed. Its the consultants and mgt milking all the rates money. These people knows that no matter what rates has to be paid, an investigation on mgt fees, perks etc should start. Lots of kick backs from co's as well.

Do you think maybe some day we will actually hear from someone who likes having the Super city?:t_down:

[skid]

Nah, the shares and property keep me occupied. And I still have yet to finish the Breaking Bad series.

If your at the same place in the series I am--it would be hard to feel bad about whatever you are doing compared to them.:p

PS-Are you going to let us in to which little slice of heaven you have ended up in?:) (or we just listen for the barking dogs,outside of Auckland[barking dogs in Auckland is Rogers place]:)

[skid]

Well after successfully wasting most of the day LOL I'd better do an hour's real work before knocking off...the Merc needs a service soon :)


Wait till you find out the price of spare parts......

[Beagle]

Wait till you find out the price of spare parts......

Yeah, some silly idiot driving it busted a taillight last year, (opps did I really say that out loud), just as well it wasn't the Mrs then I would have been really filthy :)

[skid]

That was thorough:) Sounds nice--Must say we really enjoyed our visit to see the daughter in Queenstown a while back--Id forgotten how nice the South island is--Qtown not much cheaper than Auckland though for houses so Blenheim sounds good in that sense.

Its good to be close to the rentals and the AK airport ,but in most other ways we are probably paying for stuff we dont use (like being close to the city)

Might get a camper and have a better look around down there next time (maybe winter--if things look good in winter-they must be good):)

New aspiration-- Go have a better look at the South Island
Go back to Southeast Asia and do some more touring around on a motor bike..

[Crystal Ball]

I totally agree with what you are saying mate. Its absolutely outrageous. I want a full investigation into where all the extra money is going. We were promised new efficiencies and rate decreases with the new super city not exorbitant increases !!!!!! After many years of rate increases at significantly faster than the rate of inflation they now think they're doing us a favour with rate increases of about 4% for residential ratepayers when inflation is less than 1%.
What planet are these self serving so called "public servants" on ???????
And so much for a lean pared down council.....so many of them with titles that mean nothing on way inflated salaries, scary . But then again, it's not "their money" and they don t have to justify so all they do is spend, spend , spend and set up more committees etc to approve council expenditure.... Could never run a business in this way and get away with it!

[Beagle]

I really love Queenstown. A nice little schist holiday home with a good view of the lake would be very nice. :drool: Maybe we could retire there, now that's a plan :D

[Beagle]

And so much for a lean pared down council.....so many of them with titles that mean nothing on way inflated salaries, scary . But then again, it's not "their money" and they don t have to justify so all they do is spend, spend , spend and set up more committees etc to approve council expenditure.... Could never run a business in this way and get away with it!

Legislated theft... plain and simple. They seem to have a special committee and special council promoted events for every minority group under the sun but we no longer have basic inorganic free rubbish collection, go figure ???? Well the 10 year budget arrived in the mail today asking for feedback. I'll be giving them feedback alright starting with telling bloody Brown exactly where he can shove his pet $2.5 billion dollar inner city rail loop extension...you know... the one that 99% of Aucklanders will never use. Maybe he has another mistress on the planned route ?

Anyway, sorry I digress. Lesson here for the young-un's setting goals and aspirations is every rose has its thorns.
Buy a fancy house and get absolutely screwed on your rates bills and XXXL sized houses come with XXXL sized maintenance bills.
Buy a fancy launch and get a "bath of bills" every year from your marine engineers and service providers as well as the aforementioned "much loved" council with their council owned marina fees
Buy a fancy car and you guessed it, pay through the nose for spare parts and servicing costs...
Meanwhile you work your butt off keeping all these things shiny, clean and well maintained to impress the Joneses to what effect ? Do you really think having flash stuff makes you real friends and enhances your social life ?...it'll get you a bunch of free-loading fake friends if you own a fancy launch, I can tell you that much from experience.
Do you own these "toys" or with all their ongoing costs, time and hard work to keep them well maintained and presented, do they own you ???????

[samoooli]

Am a 26 year old Wellingtonian, about to move over to Van in Canada for a couple of years to live the ski/mtb life in between IT contracting/consulting. Have a fair chunk of money invested in NZ/AU that I plan not to touch or spend on sex drugs and rock n roll whilst overseas. Plan is to buy a house free hold by 35 then leverage against that to get back into the share market.

Hopefully I can come back from Canada and move to the regions at some point to fulfil my adrenaline needs - Queenstown, Wanaka, Nelson etc but definitely think I will miss all the bells and whistles of the big smoke..


Any who thats the big plan, awesome to hear all the priceless advice you all have (its great to learn from mistakes when they aren't your own :p)

[couta1]

I considered Queenstown, its a fabulous little town. But property is very expensive, and its freezing cold for about 9 months of the year.
Love the place even the cold(No problem for us ski bums) The only thing that's missing is the sea(Not good for us fishing freaks) unless you like only catching trout.

[Sideshow Bob]

I considered Queenstown, its a fabulous little town. But property is very expensive, and its freezing cold for about 9 months of the year.

I think QTown is a place to visit, have a blast for a few days, but to live? Not sure. Like anywhere, some trade-offs.


Most of the moneyed down this way are keen on Wanaka......

[Beagle]

I considered Queenstown, its a fabulous little town. But property is very expensive, and its freezing cold for about 9 months of the year.

You're not wrong about that. the other problem is the town is full of young hooligans that come from...ahem... Australia :D

[dingoNZ]

More like English and Germans, used to go there a lot when I was younger, fantastic place! Would love to own a place down there later in life!

[westerly]

More like English and Germans, used to go there a lot when I was younger, fantastic place! Would love to own a place down there later in life!

First went there in the early sixties. It was magnificent. Now like Wanaka,Hamner, and Tekapo places to avoid, sold out to tourism

westerly

[skid]

First went there in the early sixties. It was magnificent. Now like Wanaka,Hamner, and Tekapo places to avoid, sold out to tourism

westerly

Wanaka still seemed pretty mellow to me--It seemed to accommodate tourism pretty well--Qtown you would want to be away from the main center definitely--Its North -South situation is the main disadvantage.--Its true that there arent to many places in the area that catch the winter sun and still get the Remarkables view.---I do believe ,however,that if you bought smart,you would be able to sell later at a premium---It wont be long before it will be on the Chinese radar with the new direct flights.

[fungus pudding]

First went there in the early sixties. It was magnificent. Now like Wanaka,Hamner, and Tekapo places to avoid, sold out to tourism

westerly

Hanmer please. There's no ham in Hanmer just as there's no sun in Sumner..

[skid]

Hanmer please. There's no ham in Hanmer just as there's no sun in Sumner..

Wheres the fun in that ,Gus?

[fungus pudding]

Wheres the fun in that ,Gus?

Where's the fun in misspelling or mispronouncing a place name!

[westerly]

Where's the fun in misspelling or mispronouncing a place name!

There is a lot of ham around HanMer. I had a good days pig hunting there a while back just as the sun has been shining in Sumner recently.

westerly

[Beagle]

Wanaka still seemed pretty mellow to me--It seemed to accommodate tourism pretty well--Qtown you would want to be away from the main center definitely--Its North -South situation is the main disadvantage.--Its true that there arent to many places in the area that catch the winter sun and still get the Remarkables view.---I do believe ,however,that if you bought smart,you would be able to sell later at a premium---It wont be long before it will be on the Chinese radar with the new direct flights.

World class resort no question about it. Google real estate prices in Aspen, Queenstown is dirt cheap by comparison !! I reckon we should have an annual ST meeting in Queenstown, now there's a sweet idea :D

[skid]

Where's the fun in misspelling or mispronouncing a place name!

You missed my (rather obscure) joke ------ fun.....gus ..get it?:)

[RGR367]

World class resort no question about it. Google real estate prices in Aspen, Queenstown is dirt cheap by comparison !! I reckon we should have an annual ST meeting in Queenstown, now there's a sweet idea :D

Queenstown isn't a bad idea at all for an ST Annual Meeting if we can all put a long planning into it. Of course we should not at all be talking or spending time talking about how bad or good our stocks selections are. A good program sked might entice us to visit that place once again :cool:

[Minerbarejet]

Well you could start by giving Tsuba a hand to feed his chooks.:)

[couta1]

World class resort no question about it. Google real estate prices in Aspen, Queenstown is dirt cheap by comparison !! I reckon we should have an annual ST meeting in Queenstown, now there's a sweet idea :D
Actually Roger funny you should mention an annual ST meeting in Queenstown, ive thought about that a few times, would be a great idea if we all could catch up over a weekend down there, ive already booked my ski vacation down there for this winter ( I stay at the Goldridge Resort for a very good rate as its still owned by DPC so sure we could negotiate a cheap group booking) Who would be keen and when?

[Beagle]

Sounds all good to me. I've been trying to get a cheap flight down there for February but no hope of that out of Auckland. March maybe ? or maybe we hook up for a winter trip with Couta1, I'd be pretty keen on one day's skiing, probably won't be able to walk the next day, too sore :)

[couta1]

I will be down there in August and September for a week each time Roger so if you venture down youll get a free ski lesson, that offer goes to anyone else who happened to come also and wanted to ski a day:cool:

[RGR367]

I will be down there in August and September for a week each time Roger so if you venture down youll get a free ski lesson, that offer goes to anyone else who happened to come also and wanted to ski a day:cool:

Though I'm probably too old to learn how to ski properly, I'll give it a try if others would be joining for the fun of it as well :confused: And September is tentatively looking good as per my calendar sked.

[Crystal Ball]

Legislated theft... plain and simple. They seem to have a special committee and special council promoted events for every minority group under the sun but we no longer have basic inorganic free rubbish collection, go figure ???? Well the 10 year budget arrived in the mail today asking for feedback. I'll be giving them feedback alright starting with telling bloody Brown exactly where he can shove his pet $2.5 billion dollar inner city rail loop extension...you know... the one that 99% of Aucklanders will never use. Maybe he has another mistress on the planned route ?

Anyway, sorry I digress. Lesson here for the young-un's setting goals and aspirations is every rose has its thorns.
Buy a fancy house and get absolutely screwed on your rates bills and XXXL sized houses come with XXXL sized maintenance bills.
Buy a fancy launch and get a "bath of bills" every year from your marine engineers and service providers as well as the aforementioned "much loved" council with their council owned marina fees
Buy a fancy car and you guessed it, pay through the nose for spare parts and servicing costs...
Meanwhile you work your butt off keeping all these things shiny, clean and well maintained to impress the Joneses to what effect ? Do you really think having flash stuff makes you real friends and enhances your social life ?...it'll get you a bunch of free-loading fake friends if you own a fancy launch, I can tell you that much from experience.
Do you own these "toys" or with all their ongoing costs, time and hard work to keep them well maintained and presented, do they own you ???????
I do know where you are coming from Roger, but we steer well clear of some of those other fake Riv owners, our fleet of boating friends are all shapes and sizes and we all have the same fun on the water. My hubby has worked hard and has splurged out on the launch and yes, it is expensive but it doesn t own us... We enjoy it and share it and that's it- simple!

[Beagle]

I only apres-ski. Happy to give lessons in that LOL

You're young enough to learn, its heaps of fun I did a wee bit when I was younger, its lots of fun...besides I need to see someone falling over more than myself :D
CB - Nice to see someone owns a launch that doesn't break down all the time.

[Bilbo]

Actually Roger funny you should mention an annual ST meeting in Queenstown, ive thought about that a few times, would be a great idea if we all could catch up over a weekend down there, ive already booked my ski vacation down there for this winter ( I stay at the Goldridge Resort for a very good rate as its still owned by DPC so sure we could negotiate a cheap group booking) Who would be keen and when?

I'm keen as I live just over the hill and would love the opportunity to meet up with some of the ST folk. I don't need any excuse to hit the slopes, but love the idea of an annual meet up in queenstown.