So my wife and I are able to save average of $200k annually and would do it for another 5 years at least (Working our ass off until we have children). Have $200k already in savings and about $100k as a gift from parents. So would you invest into multiple properties by paying 20% or buy outright or buy one property at 20% deposit and invest rest into ETFs. Would love to hear your suggestions.
TIA.
What Would You Do with $200k Annual Savings?
Karansingh on 21/04/2021 - 02:10
Comments
I think that is the point he is making. Everyone else is giving him the same replies he gave to you.
EDIT: bait post probably, but i'll bite
I know these "high salary" comments tend to get a lot of hate or jelousy here.
but knowing registered nurses who work their arse off plus a mate of mine being the head nurse for the one of the largest hispitals in the city.
I'd say bullshit.even with overtime, etc, you'd be at a max income of $100k pp. (if I give you a crazy benefit of doubt, maybe you're both excellent specialist nurses, work crazy hours, or have lots of experience) lety's say $120k pp.
but that's before tax.
after tax you're on $88k pp, meaning only $176K for the two of you.
me and my wife lived until recently, extremely frugally with my own no mortgage place, we spent $30K, again, benefit of doubt, live with parents, etc.
you'd be at a minimum of $20k, and you're down to $156Kas for what you should do, probably stop posting bull online.. if you want help..
happy to assist if you put real numbers and truly asking for help.My guess is you both make $100K, and live with parents, spending nil.. thus summarised at 200K.
this is not the case, even with parents supporting you, you still spend money, and before tax income is not after tax income.Thanks for opening my eyes. I won't post bull online sirðŸ˜
Only 4 negs? Come on you all can do better than this😂.
I think they've stopped paying attention to you now. Least you're not taking it seriously really. 😉
My guess is it's a bit like when I put together my "savings" spreadsheet. More a theoretical forward looking best case scenario. But yes I'd say almost certainly it is erroneous or can't be achieved.
Err why can't you (and many others) simply just answer the question.
"How to invest 200k per year ".
Why does everyone want to audit his finances. It has no bearing on the answer on how best to invest 200k. Yes I understand you are curious how he achieves the 200k and it might be 150k or 100k… blah blah blah ….but just give a damn answer to the question at hand or don't bother replying with these pointless scenarios.
Totally would be more appropriate to start a new topic. "How to save 100k annually on single income"
Scrutising the OP's lifestyle is getting crusty now. 😂
My wife makes around 130k as a disability support carer, working 50hr/weeks. Totally plausible or troll?
To the OP, well done. I'm happy to see you reap the benefits of your hard work. Although, you're in the unenviable position of working such long hours, im sure the higher pay is worth it. Ignore the haters, who like to plod along working 38/hr weeks doing 50% capacity.
Plausible for sure
If working 50hr weeks gets 130k and we linearly extrapolate the figures to working 75hr weeks average(OP works 70-80hr weeks) earning 195k. Most people would call BS.
So I think OPs earnings are very realistic given the amount of hours worked and study length.
3years nursing vs 1 year cert 4 in disability support.
@voo123: its not a linear extrapolation. your initial 38hrs is paid at normal rate. your overtime is paid at double. it's very plausible.
@May4th: Not quite applicable in the disability sector. It's mostly casualised. You can earn as much or as little as you want. There is a shortage of around 10,000 workers. Hence most workers choose to be casual without much risk of losing their jobs. Once you factor casual rates+shift allowance+weekend rates+public holiday rates+15k salary packagaging+110 a fortnight meal allowance, it can be quite substantial. Today, wife chose to work ANZAC day earning $96.50/hr, some people would rather enjoy their days off.
It's not a job suited for everyone though.
@[Deactivated]: not sure about nurses..but for MOs, whilst some medical admin are better than others, some of them don't care whether you or your loved one is on the death bed as long as you can turn up to work. 100-120hrs per week isn't unheard of, if not routine in some specialities
Good on you! Firstly, buy one property at 20% deposit and invest rest. Re investment, investing in properties is not a good idea. I suggest you read "I will teach you to be rich" although the first part mainly applies to Americans, the overall idea and the investment advice are pretty good. Briefly, you invest in Vanguard with a diversified portfolio as suggested in the book.
The most important advice that will save you both A LOT of money is that with what you have already saved, you have to stop working like this. It is not healthy lifestyle esp. for medical staff. Having shifts increase the risk of several types of cancer, CVD etc, you name it. As registered nurses, you should be aware of this. As a medical professional, I suggest you consider this advice, your health worths more than anything. Good luck.Put 5-10% into random shit coins
If OP was making a dollar on each comment here, he'd be richer by another 200k by now🤣🤣
Haha I'd be swimming in money🤣
buy property on a 5 year loan
$200k get you a lot of butter chicken.
This has to be the most BS post I have ever read on OzB. I would have given the benefit of doubt if you were a couple of geologists or engineers working FIFO with a house you live in inherited etc, but registered nurses paying rent, LOL
Thankyou and have a nice day
maybe you should have a look at the health services award which is publically available. when you count penalty rates for night/weekend shifts and >38hrs it's not a stretch to make twice your salary if you pick up a lot of overtime.
How do you know? Did you get loan for baked beans?
You are a well educated couple, and you are doing very well financially and i don't believe Ozbargain is the correct platform to ask for financial advice. You better seek professional advice from a financial planner. If i had the money, i would i invest it all in Crypto! All the very best with your future and try NOT to give the haters too much attention.
Thankyou. Will go and see a Financial Planner shortly. I don't want to take risk with crypto until I buy my own house. Once I have that little bit of security, I will probably start putting small percentage towards crypto every fortnight.
With haters I like to give them back as much as they want to give me hard time.i think financial self-education is the best option. it's difficult to find a financial planner who doesn't charge an arm and leg for their advice (which tends to be all cut out from the same template and very basic) or have a vested interest in the investment options recommended. much better to educate yourself as you will get lifelong benefit. diversification is the key, across all asset classes. as mentioned before, buy a roof over your head first, you can't put a dollar figure on security. then diversify into ETFs/set aside 10% for higher risk such as crypto/SPACs/penny stocks if that's what you want to do
kyon Karan Singh ..investment advice 1000 me lene ka tha bhai ? Agar lakhon me le rahe ho to sir fraud ho ..ya koi crypto ka scene hai.. sharam kar
Lol wtf is this language? Alien?
And why sharam kr? I am doing my hardwork and earningbthe money.
Well.. if no one else has caught on.. this is a young person projecting what they aspire to be… there is nothing wrong with aspiring … this dude is a young kid though who has dreams but no way to get there and I bet you had a hard upbringing .. to be honest may not even live here … Either ways it is a fraud post..
Hahaha okay it is a fraud post. Now what?? Or probably you couldn't be successful all your life and you have nothing better to say?
Lol I have dreams and nowhere to get there? I am already on my path and I am damn proud of myself and my wife for working hard and not sitting lazy all day commenting on other people posts and calling them liar
How do you have so much time for replies op?
How does that concern you kind sir? And It literally takes 10 seconds to type a reply on your phone. Unless you are 60 year old
The guy is lying.. I have no idea why.. but he is
Why do people think OP is lying? He works x2 as many hours as an ordinary Australian so he deserves x2 as much financial remuneration. If he is earning 200k a year working 38hr weeks as a RN then its clearly BS, but he works 70-80hours<———. Do the maths
Thanks. Asked for suggestions here but people just think that if in their profession and according to their circumstances they are not able to save that much then I must be lying about it.
well kiddo what you are projecting is great as a want.. but as an Indian 1000 is where you look for advice at 200 k you know everything ..I am just wondering why you posted ? I am guessing investment opportunities if you ever make your dream
And the way you are talking you look in your 40s. So why do think it is impossible? Because u couldn't do it?
I have posted about this figure because that's what I am managing to save. Some people manage to save 20 k a year, some 50, some 100 and some more. All depends on your spending habits, earning and dependants.
I could've written 100k because that is a big amount to save too. I am only stating facts here. If you don't want to believe, don't spill hate.sharam kar ..kuch to sharam kar bhai..rab se thoda to dar
Alright mate, Turn on your PMs. Will show you at the end of Financial year the money that I made. ATO won't lie or would you also call them Liars?
And how come if somebody is saving 200k know everything? Saving and investing is entirely different. Probably I should start referring to you as 'Kiddo'
Ignore him folks and as an Indian I am ashamed and apologise on his behalf .. but how many of you replied to a post online about a child's fantasy in itself is amazing .. everyone of you who replied .. it is not really that hard to earn that much if you work hard
But yes .. he is a child and projecting what he wants , ignore him and his post
Hahaha bechara, Number de na apna tu. Tujhe screenshots bhej dunga apne bank account ke. Ek baat yoh hai ek Indian dusre Indian ko dekhke jlta hai. Kya baat Uber ya Taxi se bn nhi rhe aajkl paise?
You should be proud ki Country ke log trakki kr rhe hain. I got PMs from fellow Indians and they were congratulating me.
Work hard and if you are educated enough, you can earn heapsMai child? Aur aap uncle kitni age ke ho? 55?
Read Money master the game by Tony Robbins.
Do the all weather portfolio.I perosnally will look at 25% in ETF's check vanguard website for info, 10% extra contributions to super to the extent to max it out may be 15%.
Invest in real estate, if you are not averse to pay, get a buyers agent and may be subscribed to website like ripehouse invest in 3 properties atleast by putting in deposit on land and one established property 50% on that, 5% for a rainy day and 5% for Crypto cheap thrills.
You are working hard and reaping benefits of being qualified and dedicated.
Right people at right place at right time, well done and totally deserving don't listen to haters.
Haters de pan di f*** :)
Haha I know mate I was just acting like other people here