The Banana Zone

So I wore this shirt to lunch with a couple of friends today:

After the first friend left, I was saying how I hated buying clothes (because it is hard to get stuff that fits), but the shirt I was wearing was new. So, he asked me about the Banana Zone. After I explained, he asked whether he should invest some of the extra money he wanted to put into superannuation earlier or wait for the end of the financial year. I told him that it really mostly applied to cryptocurrency. He mentioned that he was trying to reach the transfer balance cap. I said: "I've gone over that". He was surprised as I had only had $1.6 million when we had recently discussed this.* "What did you do?" "Cryptocurrency!" Then he was like: "You need to sell now, Warren Buffett would never do that." (I'm paraphrasing). I said that I did plan to sell this year... "Why are you making such risky late moves?" "To buy a $4 million house".

The $4 million house is an inside joke. We recently visited our friends' newly built house that was mentioned in the linked blogpost. It cost them a total of $4 million in the end, but probably isn't worth as much now. Buying and knocking down an existing house destroys value and property prices at the high end here have softened.

* At that time, I said I didn't want to make much more in non-concessional contributions, as I'd probably hit the transfer balance cap by investment gains anyway, and Labor's plan to tax balances over $3 million was looming.