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Prince of Paisley

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You are young, bet the house on black

Even if you lose half its going to be fk all and your income will hopefully be rising as you climb the ranks.

Later on switch it to something safer.

Re smsf you need minimum 100k in super to even consider doing this, it's a good thing and combine with a spouse /family for leverage
This makes sense. Simplest approach if it's just you: higher risk/higher yield options in your early career, then when you are getting on a bit (relatively) transfer into a safer super option with lower returns but low risk. Most super funds have options such as 'high risk', 'balanced' and 'low risk'. I would start there before going into SMSF as Romp suggested.
 

md2010

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Money rules -(disclaimer - I am not a financial advisor and this is not a financial advise or guide )
Have at least one secret bank account.
Have statement suppressed / online only
Don't tell your partner your real after tax income - maybe deduct $200-$1000.
Get your salary paid on this secret account. Leave that $200-$1000 in there transfer the rest back to your regular account. Payment reference salary.
There you go... Have surplus in your account do what ever spend it how ever you like . After all you have earned it.
 
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The Ernesto

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Can't recommend the no spend club highly enough.

It's a great challenge and there is a fantastic satisfaction in resisting the endless 'sales' and perceived bargains on offer (particularly online).
 

thebrownman

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FXH, $40 only gets you the front Topy on your strippers. The heel/back Topy will cost you more..
 

Prince of Paisley

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Can't recommend the no spend club highly enough.

It's a great challenge and there is a fantastic satisfaction in resisting the endless 'sales' and perceived bargains on offer (particularly online).

Clearly Herringbone need to send you more emails to entice you to spend. I'll let them know.
 

Oli2012

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What age do you plan on retiring.


70 +

Money rules -(disclaimer - I am not a financial advisor and this is not a financial advise or guide )
Have at least one secret bank account.
Have statement suppressed / online only
Don't tell your partner your real after tax income - maybe deduct $200-$1000.
Get your salary paid on this secret account. Leave that $200-$1000 in there transfer the rest back to your regular account. Payment reference salary.
There you go... Have surplus in your account do what ever spend it how ever you like . After all you have earned it.


But then your ex-wife hires a forensic accountant...

There's some good advice here, thanks guys.
 

fxh

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Expect to see a lot more of this when the standalone store opens.

Wool-growing family, the Taylors, from ‘Winton’ Tasmania, have a lot to be proud of.

Not only were their family one of the founding families of the Australian wool industry, but they also have their wool made into apparel by renowned American retailer Brooks Brothers.

Having been in the business for more than 175 years the Taylor family pioneered the Saxon Merino in Australia, with the original flock hand-picked from Saxony in Europe. Today, the modern-day Taylors still farm pure-bred Saxons with absolute passion, knowledge and love for the fibre.

John and Vera Taylor’s son John is a sixth generation woolgrower who appreciates knowing that their Saxon Merino fibre is destined for high-quality apparel sold around the world.

“Brooks Brothers sources pure Saxon wool from a small group of growers which sells through the Escorial Company,” Mr Taylor said. “‘Winton’ is the only Tasmanian contributor from this small and select group.”

The beauty of knowing exactly who picks up your clip allows the woolgrowers to be part of the entire production pipeline and follow their fibre right through to the end product.
“This is certainly a story of wool production from start to finish,” Mr Taylor said.

Founded in 1818, Brooks Brothers has an enviable reputation, being the oldest men’s clothing chains in the USA. The company has more than 200 Brooks Brothers’ stores in the USA and 70 in other countries.

Brooks Brothers Chief Merchandising Officer Lou Amendola said the retail company has a special agreement with the Saxon growers to market Saxon products worldwide exclusively with the SaxXonTM brand.

“Brooks Brothers uses Saxon wool as it is a unique fibre from a special breed of sheep,” Mr Amendola said. “The items produced are luxurious to touch, light in weight for its relative bulk, and have great natural wrinkle recovery. We have experienced a strong response from our customers who appreciate these qualities.”

In December, Brooks Brothers placed a high profile eight-page advertorial, in conjunction with the Woolmark brand, in Esquire magazine promoting the use of Saxon Merino in the Brooks Brothers’ clothing line. Mr Amendola praised this recent campaign, hailing it a “great success”.

“It allowed Brooks Brothers’ to speak directly to consumers about our passion and commitment towards wool products,” Mr Amendola said. “The well-received magazine insert gave us the opportunity to speak about the many ways we are using wool in our apparel and accessories and how to incorporate them into a fashionable wardrobe.”

The Woolamark Company country manager for the Americas Sonny Puryear said in addition to this eight-page magazine feature, a retail promotion was held in one the Manhattan stores to endorse the Woolmark brand and Saxon Merino in Brooks Brothers’ clothing.

“Hundreds of shoppers attended this special New York City event,” Mr Puryear said. “And across America the Woolmark logo was displayed in every Brooks Brothers store. There were also eight in-store training sessions educating sales staff about the benefits and characteristics of Merino as well as a farm-to-fashion overview. All shops that received the seminar were greatly appreciative and the staff expressed excitement at learning many new things.

“This nationwide promotion was the result of a solid and ongoing relationship between The Woolmark Company and Brooks Brothers. They are one of the largest USA users of Merino and this project is typical of our efforts to promote Merino wool.”

WHEN venerable US clothier Brooks Brothers recently logged its global internet sales figures, one small Pacific nation towered conspicuously on the graph, and it wasn't Guam.

Australian internet sales of about $US1 million over the past financial year have "astonished" senior management at America's oldest clothing chain, says Joe Dixon, senior vice-president of production and technical services.

This statistic explains why the company has entered into a joint venture with the Oroton Group to open Brooks Brothers stores in Australia. The first stand-alone Brooks Brothers store is due to open in Sydney in April, with others to follow, and the brand will also be available in David Jones stores in Sydney, Melbourne, Perth and Brisbane from this month. According to Oroton, the business is expected to generate about $3m in sales this financial year and $50m by its fifth year of business.

While the brand's popularity among Australian online consumers has doubtless been boosted by a strong local currency, it's not the only trans-Pacific connection between Brooks Brothers and Australia.

The other is wool. As anyone who has ever visited the 195-year-old clothing chain in either its virtual or actual manifestations will be aware, it prides itself on the manufacture of menswear standards such as suits, trousers and jackets, from Saxxon wool - the brand's trademarked name for the fabric made from Saxon sheep. This breed produces a distinctively plush yet light fabric from fibre endowed with what specialists term a "three-dimensional crimp". The breed has its origins in Europe via North Africa, but as fate and the good fortune of a coterie of Australasian wool growers would have it, it survives in commercial quantities only in Australia and New Zealand. And therein lies quite a tale.

Doug Shriver, senior fabric specialist at Brooks Brothers, explains that the Saxon breed may have originated with Phoenician traders in the Black Sea, but was first identified in North Africa about the year 500 and arrived in Spain a few centuries later with the Arab conquests. By the time of Spain's Christian reconquest, about 1200, the breed was well established; its fine qualities were recognised among the noble classes, who could afford to have clothes made from premium fabric. Chronicles put the breed under the exclusive control of Spain's royal Palace of Escorial in the mid-17th century.

"These sheep were recognised as something very special and only royalty could wear garments made from this wool," recounts Shriver. "Another few hundred years go by and in about 1765 the elector of Saxony writes [to] his uncle, the king of Spain, and inquires about this flock of sheep under the control of the Spanish court. The Spaniards send him about 100 sheep especially selected from his own flock. These sheep are established in Germany and are soon grown in commercial quantities - there is too much wool for local demand.

"A considerable amount of it is exported to Europe, particularly London, where the main wool markets are, and at this point it becomes known as Saxon wool. It is finer than any other wool and fetches twice the amount of money. By the early 19th century, when Henry Sands Brooks is thinking about opening a store in America, it is all the rage."

Tradition, for Brooks Brothers management, is at once a source of pride and a point of commercial difference. And while there is no organic connection between the Saxon breed and Brooks Brothers' famed Golden Fleece label, adopted in 1850, Shriver insinuates a subtle link when he notes that the knightly order, established in the 15th century, included among its members a Spanish monarch who is depicted in a court portrait wearing the order of the Golden Fleece at the palace of Escorial - the palace that had at one time husbanded the Saxon line.

In the late 1820s the first Saxon sheep were exported to Australia: first to Tasmania and later to Victoria. "The original blood lines of the Escorial are still there," says Shriver, noting that the depredations of Napoleon's army extinguished the Saxon line in Spain while World War I achieved the same thing in Germany. But in Australia, happily, Saxon sheep are still bred, though in relatively small numbers.

"What makes this relationship between Brooks Brothers and Saxon wool so incredible is that it is rich with history," says Dixon. "And it links with our Golden Fleece emblem, which we've proudly had for many years." Dixon adds that the firm prides itself on both innovation and tradition. It is drawn to both the story of Saxon wool and "its unique qualities", to the narrative and the end product.
 
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Journeyman

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Anyone been into Herringbone to see what's been reduced? If something is on sale + 25% that's not a bad deal...


I was thinking of popping in at lunchtime to see if they have any pocket squares on sale, as they had a couple of decent printed silk ones the last time I poked my head in.

I just had a brief look at the Herringbone website and noticed that they now offer a range of *pre-tied* bow ties. What?!?!?!

Herringbone used to offer a decent range of self-tie bow ties. They were very nice, and I have several of them. The former store manager in Brisbane was quite pleased that they were one of the only places around that offered a decent range of self-tie bow ties. It's a great pity to see Herringbone effectively cr@pping all over its reputation and offering pre-tied bow ties.
 

nabilmust

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This is almost what I do, I put 10% away each fortnight to spend on whatever I like. The rest gets divided into bills/house deposit savings. Although the money isn't handed over to the girlfriend (Chinese/Aus) she still checks my accounts occasionally to ensure I'm not spending on unnecessary things like shoes and clothing, and that most of my money is going into the house deposit savings account. The system works well and it stops me spending excessively. She already has a house and I'm playing catch up! (Only 23).


Selling a pair of Lanvin trainers in Size 44 if anyone is interested?

http://www.ebay.com.au/itm/201064559900?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

Interesting timing on both posts.
laugh.gif
 

CHECKstar

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So I am considering picking up this from the current Herringbone sale.... anybody willing to talk me down from the edge?
 
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