JimmyXR6T04

the problem I have with road tolls and "statistics" is that statistics alone don't tell or represent the current situation on australian roads. All the government ever say is, the road toll is up.. car accidents are rising. Lets think about this for one moment. Of course the road toll is rising. It's a direct consequence of the many many more road users in Australia. Firstly, the elderly are living a lot longer in terms of average life span, and children are allowed to drive at an early age. Naturally, when you have millions and millions of people on the road, is a few thousand really that much?? I'm not sure on the exact road toll figures, but lets say there's 500 deaths a year, and 1 million drivers (for arguments sake), realistically that's not that great a percentage of deaths. Sure, there "should" be nil road toll acceptable, but when you factor in the many variables of driving, mistakes, and accidents will happen. Factor in some stupidity and there's your road toll. I'm not completely convinced that drivers today are more dangerous on the road then say 20-30years ago, but the road toll and stats don't reflect this. Firstly, the media plays a massive role in these stats, as you now hear about EVERY P plater death... Of course the stats look bad. To be honest, I'm quite sick of the whole "speeding" kills, and P plate this P plate that. Unfortunately driving accidents are part of life, and the government is cashing in on the whole thing with revenue from speed cameras, that supposedly slow drivers down, yet we still see a rising road toll from "speed" Sure, there's some real d*ck head drivers out there, but you get them anywhere!

are you sure its filling up to 50L or so?? Might just say you're only getting that many kms but you may only be filling up with 35L or so. It's happened to me before. I only got like 320km and it was empty, I was shattered.. filled her up and it only took like 30L or so. Instead of the usual 50L

So is that the trick, re-flash your power tune every now and again? ← I've flashed my 95ron tune before, and standard tune, then I flashed the power tune back in.. not sure if it made a difference or not. It can't hurt though

the poor dudes car probably broke down and needed a tow, and they just come up with commentary about hooning

Removed centre muffler with hotdogs - No Drone. Not sure if it increased power. Sounds a lot better, and people notice the difference.

yeah I didn't think you'd need to re-tune.. perhaps just re-flash it every now and then to stop the computer doing its whole self learning thing and becoming a sloth.

if you've already bought it, I'd fit it. Although the T5s are a bit of a mix and match when it comes to handling the power, depending on how you drive it, you might be lucky. You could always go for a conservative 280rwkw or so. I'm lucky in the sense that I don't need the T as my daily driver. So I don't put too many kms on it anyways. If the box does go, I'll more then likely source a cheap 5sp manual to get me through and putt around till it's time to sell the car I guess you gotta weigh up the options and make the decision. The other question is, how long do you plan to keep the car?? if it's for years to come, then perhaps keeping it conservative might be better.. in my case, I can't see me keeping the car longer then say 2 more years, depending on my circumstances.. so if the box blows it's no point putting a T56 in it for just a year or two more of owning it. On the other hand, if you plan to keep your car for years to come, go for it.. if the T5 blows, so be it... whack a T56 in it and it should be trouble free, tuned the way you want from there on in.. (touch wood of course)

I agree, you hardly ever see a wealthy financial planner do you.... so why take advice from somebody with nothing ← I work in the industry and financial advisers are my clients. Technically, I am a qualified Adviser with PS146 compliance and therefore am able to give advice. I have something??? Including a typhoon.......... Let me say that there are pretty good numbers of very successful planners around and I know that from hands-on experience. You are getting advice on strategy at the end of the day. Investment Risk is something good planners do not take on - their primary role is focussed around strategy, investments, tax, insurance, superannuation, lending - everything. what you generally do not know is what a good planner can save you in taxation planning, succession planning, estates etc. You'll never ever know if you never ever go. ← yep, adding to that, some people whether financial planners or not, are perhaps not willing to take the risk with an investment. I think some times it also takes a windfall to get the ball rolling.. not too many people would want to borrow a few million bucks to get an investment up and running, only to have nothing to fall back on should it go sour. I bet the financial advisors don't pay as much tax as I do

good question mate... I'm guessing a good few hundred initally.. I'm yet to investigate whether my employer has any free financial advice on offer. One of my fiancee's friends is a financial advisor, so I'll be off to see her in the next week. It'll be a good place to start, from there I can go see a few other people/companies. I've also gotta sort out a trust account for my brother and I, and we'll be off to see one of the best lawyers in canberra to arrange it all. Organised through a lawyer friend.. I heard figures of between $500-$1000 per hour for a consultation.. I hope he works quick

Thanks again guys, all good stuff I'm hearing. Let me stress again, I will be seeing a professional, and not just one or two, or even 3. Between my brother and I we are quite willing to spend some money to get a broad range of professional advice from a range of companies and people, dealing in various investment opportunities. The idea of this thread is just to get some basic advice, and some general ideas of where I may want to, or need to head in the not too distant future. It is also giving me some great pointers on what I need to look out for, what questions to ask etc. F6Rapid, I will PM you in the near future for some references, that would be very handy. Thankyou. Brian, cheers for the numbers and perspective.. such large volumes of money are quite hard for me (being so young and inexperienced) to really get my head around. But I've got patience, and time to learn. I just hope my brother has the patience too! Thanks again to all with the great advice, opinions and perspectives.

Cheers mate Brian, Thanks for the advice.. I guess I've always been one to try and keep my debt as minimum as possible. Until I bought the T I didn't have a single debt, everything I ever bought or owned was paid with cash. If I didn't have the money in the bank, I didn't purchase. But with the chance my brother and I have, I think it might be a good move to go into debt for the greater good. It's funny you mention it, because my old man was pushing along the same lines. I guess it's the 'non risk taker' in me that tends to push me away from such investments. The other major influence so far is the current market, surely housing can't keep rising.. it's gotta plateau, if not drop soon It doesn't look as though my plan to invest a lump sum into a high interest account will work too well :hiwelcome: But I'm yet to look at it too deeply. Although I want to be in a position to retire early, I'm not overly greedy when it comes to returns through investment. My major goal is to keep the initial lump sum untouched, and make smaller gains to aid in living. My brothers goal is to make big money. I'd be more then happy with an extra 50k per year on top of my income, particularly if it means my intital lump sum is still there untouched. I guess it's something we'll sit down with a fiancial advisor/accountants and decide what is best. The last thing I want to do is split the money 50/50 and go our separate ways. I think we'll be better off if we invest together, and let it grow from there, then look at the 50/50 split down the track. Cheers for all the good advice guys, keep it coming It's good to hear different views, experiences and opinions, and it can only broaden my thinking and open my mind. Thanks.

There are 3826 members here and I cant speak on behalf of everyone but I am certain the majority wish you well....... If I see you running 9 second passes then we will know you have gone for the "other" avenue for success...... ← either that, or my outcome with the investments were outstanding. I'm not gonna waste my money on my car though... of course, when I have the spare coin lying around I will.. I figure, I've had my fun, spent some coin, it's time to settle in for a few years and make some money work for me. Then I can have some more fun with cars. Fattony, I think you may be correct.. again, I'll look into it all. One thing I want to avoid is paying high tax.. I'll be doing my research to avoid this too.

I'll look into it all and source advice from various areas and people. At the end of the day I'm in a very fortunate position, and I don't wanna do anything to ruin it.

Blonk, good point about what cars we all own mind you, I'm pretty hopeful that we all own these cars because we can afford to do so, and that our children or future children (2wks and 6 days or thereabouts for me) will not go unfed I'm just after some general consensus, as in theory, the whole invest and gaining money via interest sounded good... too good perhaps.

yeah I know about DHA, I've done a little research into. I meant I'd rent to them if or when I bought a new house, and if I live in the current place. Falchoon, any excuse to take the T out.. might have to look into it.

I agree Zap a plausible way if markets stay stable to retire happily (in 40 years from now) with passive income, however, buying cheap places that provide cheap income to offset loans is almost impossible or everyone would be doing it.... And those that do it become slum lords......... Not a pleasent future........ Remember my first post states clearly passive income through investment is nice but very hard to acheive, passive income through business is the most sustainable and prolific way to financial success. I take it Jimmy still has a many, many good years before retirement... Most people that start to look toward investment look toward the globally accepted method of procuring and enhancing real estate. Jimmy got a head start.. Dont become a slum lord Jimmy.!!!!!!!!!!! ← I hear what ya's are saying.. haha slum lord. If only it was so easy to invest money and live off the interest.. but I'm looking into most things, the most important thing for me is security. I want any investments to be safe.

cheers guys, Blonk, I plan to study this stuff in much more detail.. I'm not one to jump into the first thing when it comes to property and investing big money. Sort of testing the waters at the moment. I've also thought about Defence Housing.. renting to them. That way rent will always get paid. My initial plans were to buy property, and let some one else pay the rent and I just add to the payments, but then I started thinking a little more laterally, to see what else I could do with the property/money. It's something I don't plan to rush, I'm only young and even if I didn't do anything at all, I'm still a lot better off then most people my age who are just starting out and buying for themselves.

I know I don't mind selling and buying something nice and modern etc, or even re-building on this current land. But if I can make some money out of it, and get some investment properties on a roll, that'll be great

Blonk, cheers mate, some good advice. I didn't forget about capital gains tax, but I wasn't sure if I'd have to pay it due to the money being inheritance. It's just another thing I have to find out. I was also under the impression that capital gains tax was only payable if the money made was not re-invested The main problem I have with building on the property is the fact I'll need to find some where to live for the time the places are being developed. I suppose a year or so of renting won't kill me.. re-reading what you wrote, I could share the 3 beddy house with my bro for that time... although I'm not really good at sharing houses! One good advantage is that the place is a corner block, so it'll be great for apartments... not too sure how it'll go with council approval though.. It's technically not in canberra, but Queanbeyan. Mind you, Qbn is growing pretty rapidly, especially considering its only 10mins to the city.

at this stage we plan to sit on the property for at least a few years and see what happens. But I like to plan ahead and work out all my options. There's currently a big rental shortage in canberra, but what happens now, and 5 years down the track are completely different. Using the equity is something I've been thinking strongly about too. I was also thinking of renting these places out and buying elsewhere, or buying and renting that out. I'd probably be able to collect around $250 for one house, and $350 or so for the other. One's a two beddy, the other a 3. Keeping in mind we'd split or rent money 50/50 and share all expenditures etc. What about investing money overseas??? any advantages to that? disadvantages?

we were planning on either renting them, or selling them, dependant on the market and the amount of rent we could get. My old man built units on the land behind ours and eventually sold them at a good profit, so he's biased in his thinking, and he's getting into my brothers ear about building. I can see the advantages to building and selling or renting, but I dunno!!

yeah I'll see a pro for sure. I'm open to all sorts of investments.. anything that means I can retire early, I'm only 24 and already looking to retire at the end of the day, I'm in a very lucky situation, so I could always stay where I am, or sell and buy elsewhere. But if I have the chance to make some money out of it with the right investments etc then I'd be crazy to pass on the chance.

yeah I'm hoping to go see a pro some time in the next week or so. I can see what you mean about using the interest to pay off the loan, I guess I was thinking along the lines that the initial investment would still remain untouched, but a house would still be getting paid off, quicker then I could pay it off otherwise (using my income). The other thing I was thinking, was rent out the two houses and buy my own. However, that means I'll be dipping into more of my income. The whole idea of using the interest to pay off a home loan was to pay the loan off as quickly as possible. That way I'd have one house already paid off, with the initial investment still there accruing interest. As I said though, I really don't have much idea on the whole situation... everything sounds great in theory

Hi People, Well, after many discussions/arguments with my brother and old man, I figured it's time to see a financial advisor. I'm planning to see a professional down the track, but for the time being, I was wondering if anyone could lend a hand in pointing me in the right direction on the following situation. Only rough guides ideas are needed. Basically, my brother and I have inherited two houses, on blocks side by side. All up the land is somewhere between 1000-1500m squared. At present we're living in the houses. Now, my brother wants to build on the land (obviously subject to council approval).. he wants to build units. It could more then likely fit 4 single story units.. not sure if we'd be allowed to build up. Anyway, I'm not a real risk taker when it comes to money, and my thoughts were to live in the houses for a while, save up some of my own coin, then sell the two properties as a whole. We've already been told by real estate and what not that the houses/land as is, would fetch up to a $750 - $1mil, depending on who is looking at doing what with the land. The two houses are rather oldish, so they'd be knocked down anyways. My thoughts were along the lines of.. if we do sell the two blocks, put all money into a high interest type bank account. (bare with me, as I don't know much about this stuff..) but what I want to know is, if we put say $1mil (for arguments sake) into the account, and we get say 10% interest... I was going to use that money (the interest) to pay off the newly bought houses we'd be living in. That way, the houses would be paid off in no time (as we'd also add to it), plus we'd still have the original starting money collecting interest once the new houses are paid off. We could then re-invest the $1mil into property if my brother so wished, or let it accumulate money. To me, making 100k between us, would be risk free, and do me just fine Is that roughly how it works??? or am I way off? obviously there'd be taxes to pay in there some where too I'd imagine? Keep in mind this is just a rough idea on what I would like to do with the money, and I haven't yet looked into it to any real degree, but would I be on the right track, and is that how it would work?? Cheers Jimmy.

1st tune I have a standard 95ron map incase I ever get stuck out in the sticks with sh*t fuel. P2 I have a performance tune (P3) with a bit of timing taken out, and P3 is my daily driver performance tune