My mate who runs the local cafe 'I reckon this bull market will top out around 120k usd"
Not a bad call in my view
Or at the very least a good "profit taking" level
Do you actually take profits, as in trading, or do you draw down living expenses following a strategic financial strategy?
For example, my plan is
1. In October 2024 I will calculate and drawdown 4 years of living expenses and pay appropriate taxes.
2. If any of the big four banks offer collateralised lending I will borrow 4 years expenses.
3. If a private lender wishes to lend on terms I'm happy with, I'll borrow 4 years expenses.
Number 3 is my preferred option.
From your post it sounds like your plan is to take profits at a time you judge to be opportune. Would you care to divulge what your plan is for those profits, if they are not for living expenses, do you plan holding them in cash or use some other asset.?
For example, my plan is
1. In October 2024 I will calculate and drawdown 4 years of living expenses and pay appropriate taxes.
2. If any of the big four banks offer collateralised lending I will borrow 4 years expenses.
3. If a private lender wishes to lend on terms I'm happy with, I'll borrow 4 years expenses.
Number 3 is my preferred option.
From your post it sounds like your plan is to take profits at a time you judge to be opportune. Would you care to divulge what your plan is for those profits, if they are not for living expenses, do you plan holding them in cash or use some other asset.?
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