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Old 01-11-2016, 03:56 AM   #15
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Some new hats available in Cairns, here modeled by my friend and multimillionaire property developer Nathan Birch:
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Old 01-12-2016, 07:21 AM   #16
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Just spoke to my sister on the mobile. The commercial building is going on the market as soon as we resolve a few lease issues. It will happen this year, most likely before the end of June.
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Old 01-12-2016, 08:21 PM   #17
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Figured I must have made a mistake about the requirements to claim the pension so I rechecked it. Yes, you have to be physically present in Australia to make the claim; but no, you don't need to have been resident for the two years prior. The rule states that you need to have been a resident for at least 10 years, but there's no reason to believe that it has to have been recently.

I guess that means I could in fact go a-wandering right now and come back in time to put the forms in. And now that I'm finally going to be cashed up I just might do that.

There was also a minor glitch in my plans to set up an International Business Corporation. The tax laws have changed since last time I read the CCHs and these days a shareholder in a business can be deemed to have received income even if it hasn't been distributed, which is pretty nasty. So what I described is no longer merely tax minimization, but could be construed as tax avoidance. Oops. Back to the drawing board.
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Old 01-13-2016, 02:41 AM   #18
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Oh, I don't know how I missed this thread! Thanks for the entertaining read

We're always looking for the way to avoid the tax man aren't we? So nice to have income though.

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Old 01-13-2016, 10:22 AM   #19
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Quote:
Originally Posted by haiqu View Post
Some new hats available in Cairns, here modeled by my friend and multimillionaire property developer Nathan Birch:
Oh so cool, this summer planning to visit Cairns.
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Old 01-13-2016, 01:25 PM   #20
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Here's another one:
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Old 01-13-2016, 06:06 PM   #21
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Finally have my killer idea for the 7 Day Startup Challenge. Judging by similar businesses it should be worth about ... oh, I dunno ... $5 BILLION. :-)

Only five days to go before the challenge starts. I'm pumped. http://7daystartup.com/course-full/
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Old 01-14-2016, 01:16 AM   #22
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Good for you! Are you doing the challenge? You'll have to keep us in the loop and let us know how you do
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Old 01-14-2016, 05:05 AM   #23
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Yep, I'm doing the challenge.

Unfortunately my great idea fizzled, so I need to find another one. About 40 companies are already doing it.

This looks interesting as a business idea:

https://www.antlos.com/en/
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Old 01-14-2016, 07:19 AM   #24
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There are quite a few places in SE Asia where you could live comfortably and even almost luxuriously on $514 per fortnight. Maybe not Saigon, Hanoi or Singapore, but there is a significant retiree community in Nha Trang and I've spoken to several people there who live quite well on USD$500 per month. There are also parts of Thailand, Cambodia and the Philippines where that sort of money would buy you a nice place (think 2brm furnished apartment with air con), and more than enough money for food and entertainment if you didn't need to dine out on expat delights every day.

If you had a boat and some lump sum to start with you could shell out some of that for some locals to drop you in a mooring somewhere in the Gulf of Thailand and the accommodation costs (other than fuel for going to and from shore) would vanish.
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Old 01-14-2016, 02:22 PM   #25
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Yep, I'm aware of all this, and it's a viable fallback position or Plan B, but I'm not dead yet and I'd like to have more mobility than that option would afford. Here's the thing:

Up until now, at least in recent years, I've had the philosophy that reducing costs was the way to go, due to my being accustomed to poverty. In fact I've totally refined this method of survival over a lifetime to the point where I've got a Ph.D. in it.

On many occasions I've attempted to break out of the cycle by investigating and acting on various entrepreneurial concepts and opportunities, working harder, intense private study, etc. but in each case I've ultimately failed and given up.

This year I'm giving entrepreneurship one last shot before resigning myself to mediocrity for my remaining years. Hopefully with past experience I can make a better fist of it this time. I've primarily been inspired by the new breed of internet startups and digital nomads. Think Airbnb, Uber, Stripe and Kickstarter for examples.

Even mediocre success - say an extra $2k a month of passive income - would totally change my options, especially when combined with a really good plan wrt Australian taxation. And I could assign myself an MBA.

Besides, I need a challenge. Retirement is pretty boring when you don't have the wherewithal to do what you really want.
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Old 01-14-2016, 03:06 PM   #26
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Speaking of MBAs (did you see what I did there? Nice segue, huh?) this website has some awesome podcasts:

TMBA319: The Mind Game of Making Over $100,000
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Old 01-15-2016, 06:08 AM   #27
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Good luck. I remember watching a doco on a fisherman from Taiwan who was living on the streets at age 64, then hit on a business idea and is now a multi-millionaire with his own fish farming company.
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Old 01-15-2016, 08:46 AM   #28
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Thanks mate. Last one to a million bucks is a rotten egg. :-)
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