So from the late 90's to 2003 property on the Eastern Seaboard doubled. A little later and greater on the West Coast. And between March 2003 and now, the ASX has doubled. Add to that re-invested dividends, a strong wage market and incrementally lower tax rates over the last few years and there is no doubt that many people out there are doing very well for themselves.
Of course, those who don't invest and those who don't have marketable skillsets aren't doing much better than they ever were.
But for those that are, and I'm sure there are many ASF's in this position, are you starting to think about early retirement? Or different life plans than you might have had 5 years ago?
I'm heading into my 30th birthday soon with a net worth of $600 000, and as a public school educated kid from divorced working class parents I'm pretty proud of the numbers that appear in my spreadsheet each month. I have no idea how much my mates are worth but I'd assume they have significantly less. I don't talk about my bank account, nor do I display it. Continually spending alot less than what I earn is one of the major reasons in achieving the wealth I currently have.
It's conceivable that I'll be worth $2m by the age of 40, which to me means reaching the goal of financial independence. Still along way away, and alot of money away, but I think it's worth thinking about now and then.
I'm wondering how many other people are out there in ASF-land getting ready for early retirement, who has it as a major life goal, who will push on in the rat race and who will drop out?
What will you do with your spare time? What will make you get out of bed and out of your pyjamas each morning?