If you sit on the $240 bucks a week your wealth will grow 12.5 k per year. Beautiful. No painting , Tennent's , Rates , Insurances. No worries at all just sit back and let the good times roll.
After 10 years you will have accumulated $125,000. Beautiful. Now what ?
You now have $375,000 .Invest that again and you will receive around $360,00 a week. Sit on it for 10 years and you will have $555,000. Now what ?
Of course you reinvest again Poppy , then what ? Your funeral. When they bury you you will have accumulated $555,000 you sat back every week for the prior 20 years watching the $240 a week roll in but you could not touch it. Therefore you must have had a job for those 20 years during which time you would have paid taxes including tax on your few bucks you make from your investment.
Yes it was a safe life , and you worked every day to maintain your safe life while the wealth builders at Macquarie Bank used your $250,000 to purchase properties which have gone up 3 fold in the twenty years and their shares that have gone up 10 times.
I remember buying WBC at 8 bucks , BHP 7 bucks , Rio at 12 bucks , CSL at 30 and yes God forbid even Mac Bank at $60.00. I have enjoyed the divvys because I like buying motor bikes , I enjoyed the Credits because I hate paying tax , and my wealth has increased with the share price. When they bury me I will have built wealth with what was mine , not handed to a bunch of cowboys to build wealth for themselves and theirs. Yes a few falls off of those bikes a long the way , but all in all Poppy a hell of a ride. Risk is good.
WBC Price at posting:
$23.19 Sentiment: Buy Disclosure: Held
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