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Happy New Year to our listeners!

Mike introduces James and Lisa's case study. They are both 36 and have a goal of attaining $80,000 of passive income per year into retirement, and scaling back work to 50% by the age of 50 remains an ideal. Their annual combined incomes are $144,000 and they have $90,000 in savings. Can it be done? And what do they need to compromise on to reach their goal?

Cate ponders their plans and discusses the cost disparity between life in the major capitals versus the regions. She also touches on 'overshooting the runway'; a common pleasant surprise for those who make firm plans early in life.

Dave explains how he and his team would typically tackle the determination of subsequent property purchases, timing, budget and buffers. How did James and Lisa's property plan compare to other plans? Tune in to find out what scenario Dave's team recommended to this duo. Do they purchase an investment first? Do they move to their ideal future home location? How many properties do they ultimately need? The alternative options for James and Lisa are an interesting surprise!

Mike and Cate tackle the investment-future use conundrum; a common investor challenge that the Trio see often. And Dave makes a valid point about the differential in post-retirement outcomes when sensible financial decisions are made at the start of an investor's journey. It's little wonder that compound interest is considered the eighth wonder of the world.

....And our gold suggests!

Cate Bakos’s gold nugget - Retirement is not what it used to be. We don't just stop. We have much longer retirements these days and we do have to think about how we wish to enjoy our segments of retirement, well before the 'golden years'.

Dave Johnston’s gold nugget - When modelling out a property plan, setting pathways and determining if a goal is achievable is critical. Decision-making often has to face adjustment as life changes.

Show Notes: https://www.propertytrio.com.au/2024/01/01/can-we-retire-at-50-and-how-many-properties-will-we-need/