How an AI Legalese Decoder Can Help You Navigate Financial Decisions After Moving Back to New Zealand
- April 11, 2024
- Posted by: legaleseblogger
- Category: Related News
Speed-Dial AI Lawyer (470) 835 3425 FREE
FREE Legal Document translation
Try Free Now: Legalese tool without registration
### Deciding on Investment Options with Existing Funds
Have 60k cash and 50k (NZD) in my Norwegian brokerage account that I think I want to pull to move over here. Real estate? NZ stocks? Leave it to sit for a while?
Mum wants me to invest in a rental with her; 1/6 ownership and no mortgage. She’s a landscaper and her partner’s an engineer so they will hustle and increase the value of the property real fast while I’m still tidying up my life in Norway before heading back home (no mortgage or kids there).
### Concerns About the Stock Market and Seeking Tangible Investments
The way the world is looking right now and the hysteria I’m hearing from some people make me reluctant to invest more in the stock market and in fact want to pull all my money out of shares and put into something tangible (like this rental property).
Any advice is really welcome! Have no idea about the economic state of NZ atm and a lot of info I’ve looked at is U.S. oriented.
### How AI Legalese Decoder Can Help
With the help of AI Legalese Decoder, you can easily decipher complex legal documents related to real estate investments and make informed decisions. The AI tool can analyze contracts, agreements, and regulations to ensure that your investment in the rental property with your mum is legally sound and advantageous. Additionally, AI Legalese Decoder can provide insights into the current economic state of New Zealand, helping you better understand the market trends and make strategic investment choices. Cheers guys 🙌
Speed-Dial AI Lawyer (470) 835 3425 FREE
FREE Legal Document translation
Try Free Now: Legalese tool without registration
**The Challenge of Understanding Legal Jargon**
Legal documents are often filled with complex and confusing language that can be difficult for the average person to understand. This can make it challenging for individuals to navigate the legal system and ensure that their rights are protected.
**How AI Legalese Decoder Can Help**
AI Legalese Decoder is a powerful tool that uses artificial intelligence to simplify and clarify legal jargon. By inputting a legal document into the system, users can receive a plain-language translation that is easy to understand. This can help individuals make more informed decisions about their legal rights and navigate the legal system with confidence.
**Benefits of Using AI Legalese Decoder**
One of the key benefits of AI Legalese Decoder is that it saves time and money by eliminating the need for expensive legal consultations. Additionally, it can help individuals level the playing field when it comes to understanding legal documents and ensure that they are able to advocate for themselves effectively.
**Conclusion**
In conclusion, the challenge of understanding legal jargon is a common issue that many individuals face. However, with the help of AI Legalese Decoder, this obstacle can be easily overcome. By using this powerful tool, individuals can gain a better understanding of their legal rights and confidently navigate the legal system.
Speed-Dial AI Lawyer (470) 835 3425 FREE
FREE Legal Document translation
****** just grabbed a
Put your money into a term deposit for a bit and get your bearings. I don’t think it’s a good idea to rush into a shared investment that you know nothing about.
My first bit of advice is investing/buying with others almost never works out.
You have 110K deposit which would be enough to buy alone in the regions, after another year of saving, and planning on where and what you want to do?
Honestly man, you’ve just had a big life changing breakup.
Whatever you do with the cash make sure it’s flexible enough that it doesnt leave you tied down.
If you decide quite decisively your life course, , then it might be time to think of something. Like a deposit on a house.
Have you been out for 10 years? Or not quite.
Considerations for bring back foreign pension and all that. There may be exemptions on foreign income depending on yoru dates and potentially foreign passive income being non-taxable for 48 months, depending on dates.
​
Something that may give you creativity.
Just hold on to it. You will need it for the first weeks worth of groceries.
Seriously though, sorry that you’ve had a break up and we’d love to have you back here!
Don’t come back salaries are terrible here. Seriously consider another country if you care for your financial future
Is there a reason why you don’t want to stay in Norway? Surely you’d earn more there and can further your career
I imagine you’re still picking up the pieces and taking care of the impact the break up is having on your mental health.
Could you put some of the funds into a short term bank term deposit for 6 months or something?
I personally wouldn’t make any decisions that you can’t change your mind on easily (like investing in a property with your mum) right now. You could get back to them in a few months after resettling in NZ – then you’d have the mental clarity and headspace to consider all your options and the pros and cons for each.
Start by hiring a financial adviser and ignoring everything you read in this thread. There is no way you can:
A: vet the qualifications and experience of the person posting the comment
B: explain all the little details of your life, goals, futures and hopes on Reddit
C: come up with a plan for the financial future after such a life changing event. An expert can explain different investment options and risks.
I’m agreeing with the wait for now option. Interest rates are currently serving term deposits, not mortgages. 1/6 of a rental isn’t really going to give you much, and certainly not for a long time.
I would stick it in a term deposit, come back and settle down and decide what you want to do. If you’re earning decent money, you could save up a bit more and probably get your own place.
Don’t buy with family
I agree with the others… Don’t rush into anything, especially something that would be costly to back out of.
After tax, a term deposit will almost match inflation. It’ll give you time to breathe, and decide what’s next.
I’m sorry the relationship didn’t work out.
So you have a visa for Norway? Visited there a few years ago. Amazing place. Really good uni system. Sounded basically free. If I had my time again, I’d head to Norway.
Investing in real estate with your mum could be a shrewd move. A 1/6 ownership with no mortgage means you’re not overextending yourself, and with your mum and her partner hustling to increase the property value, you could see some quick returns. If you ignore the fact joint ownership of property can lead to conflicts and disagreements…
As for pulling your money out of the stock market, well, it’s a bit of a gamble. Sure, there’s a lot of hysteria floating around, but markets have a funny way of bouncing back. If you’re dead set on it, maybe consider diversifying your investments rather than going all in on one asset class
I’m sure I don’t need to remind you to do your due diligence. Get yourself a good lawyer to draw up the paperwork for this property deal, and maybe even a financial advisor to give you the lay of the land in NZ.
Don’t worry, within 6 months of your return to NZ all your money will be gone.
I’m actually in the same boat! I’m 28, recently split with my partner, now I’m moving back to NZ from Canada. Have no idea what to do when I get there. Will have to get on job seeker but I keep seeing all this anti-dole bludger stuff.
The rental investment depends on your relationship with your mother and her partner.
Stocks go up and down all the time. Trying to time the market is just asking for disappointment.
If I was in your shoes, I will put a sizable amount for emergency fund. Split the remaining in half to invest in rental, the rest goes to an index fund.
That way, you don’t put all eggs in one basket.
Or a session with financial planner cost roughly $500. A lot better than asking random on reddit.
so they will hustle and increase the value of the property real fast
This statement to me is a bit concerning- fixing something really fast to me usually means a substandard job.
Very fortunate position…no financial knowledge and real estate talk in my family. Ever.
Take mums offer
World is always crazy…media just sells it better. This century has had less deaths thru wars and less terrorist attacks in the history of the world…20th century was crazy for terrorism…anyway…enjoy your trip. Ive visited scandinavia once -good looking ladies there, u may miss that back in NZ?
Take the property option
Bitcoin
I’d do the joint rental. You’ll have someone else do all the admin and day-to-day stuff while keeping your money safe from fritting it away on the million things you can spend money on when you move country and start again. Unless of course you end up really needing that money on short notice.
Buy property.
Please clarify if that’s in NZD or in Euro’s as there’s quite a difference between the two currencies
[deleted]
How much money will you have to put in for 1/6th of the rental property and what return will you be getting?
Quite frankly the world’s stock markets are still getting over the Covid shock. Since then, globalism has declined which is making things worse. At the same time there is a residential building backlog in NZ which recent immigration has also made worse.
So to my mind property is more attractive than stocks, but if you are looking at a partnership the essential thing would be LEGAL advice.
Why is a rental property any more tangible than owning a diversified portfolio of shares of profitable companies?
That’s not really enough to do anything in nz just do term and add to it every year probably be able to do something with it in 5 years
1/6th ownership lol
So basically 0 voice in what 100% if your money is doing.
Information and details bomb incoming:
Thank you very much for the comments and care everyone! It’s a shock to hear that NZ is in such dire straits.
I would like to take a break from full time teaching and instead relief teach and focus on something that I actually studied for which is the performing arts – I’m a musician and aspiring actor, as well as keen to start some sort of career or business that utilize my social skills.
Thought about honing these things when I come back here initially and then shooting off elsewhere potentially to pursue it more seriously after connecting with NZ more again.
I’m loving being back (on an extended holiday here) but going back to Norway next month.
I just love the culture and climate here in NZ – kiwis are bloody legends and a huge breath of fresh air from the introverted and cold Norwegians. Feel very much at home.
The house situation in more detail:
The house was built in 2014 and is probably going to be bought for 650k (was listed for 800k 6 months ago) and is situated near Tasman.
Current tenant pays $600 a week. The current agreement agreement is that I’ll own 1/6. 85-90k of my own cash, with 600 total rental weekly (1/6=100 to me) x 52 weeks = 5.8% or so. It’s a generous deal I think. Thoughts? Have I done the maths correctly?
Still very unsure if this is the correct venture though with so many options and dreams I have now that I’m freed up from the shackles of my ex and the socialist/capitalist society in Norway that restricts entrepreneurship. Plus, speaking Norwegian is a bit inhibiting and they are quite racist when it comes to the professional/career scene (though kiwis have a leg up over most).
Chur and thanks again 🙏🏼
Get a WISE account set up for transferring your savings internationally.