I have discovered during my life time that the most powerful way to learn anything is to experience it for myself. I found that a textbook or explanation was never as good as a practical demonstration, preferably with me involved in the activity.
As a teenager, I had decided to become a mining engineer – this was the highest paying job I could find in the newspaper when I was a kid at school. Since I wanted to be rich I knew I would need the most money I could earn, so that I could begin to invest in property. That meant moving from Perth to Kalgoorlie and studying at the School of Mines. I don’t remember a lot about those days, I was young and a bit foolish, away from home and discovering life.
The start of 2017 has been amazing, with so much good news happening. Yet, we have questions coming up again about the challenge that Australians are having in owning a home.
I personally believe that home ownership is the foundation to wealth for most people. People who own their homes statistically have more wealth at retirement age than those who don’t. Governments know this and if the citizens have a certain level of wealth they are less likely to need government support for the remainder of their lives – this is one of the reasons why incentives have been offered to people to invest in property. Another reason is that investors can provide housing for the rental market, meaning the government does not need to spend so much on public housing. Yet these incentives, including negative gearing, are once again under attack.
Well it’s almost Christmas again – another year passed. Sometimes I wonder where the time goes.
For many people, at this time of year, they start thinking about life, the universe and everything. I know I spend time reflecting and reviewing on the year past, trying to determine what was fabulous about the year, and what I could have done better. I also turn my mind to the coming 12 months, looking forward, planning and setting goals as to what I want to achieve. I really do want the best life I can have for myself, my family and those around me. To do this I need to take heed of a couple of “secrets” to having a great life. You know as well as I that there are no real “secrets” to life, but for some, these simple “secrets” are not known to them or readily understood. These two simple points hold the key to your great life.
I imagine if you are taking the time to read what I have to share with you, that you want more from life. To have more in our modern first world economy, it really helps to have money.
People who have more money, tend to focus on a few key factors towards generating wealth. They know that making money is not a sometime thing – it’s an every day journey that can take many years. There are few shortcuts, even for those who are lucky enough to win the lottery. Studies show that many of the winners have little or nothing to show after five years of winning their money. That is because they never learned about money and on which key factors to focus upon.
Ever since I was a child I have been interesting in flying, particularly to outer space – hence my decision as a nine year old to become an astronaut. Because of that and shows like Star Trek, I have always been fascinated with our planet, its place in our solar system and our Milky Way’s place in our universe. We really are just a speck of dust in the universal scheme of things. Some think that we are an experiment in some alien’s petri dish. A few believe that a higher power – call it what you will – has a lot to do with us being here on the 3rd planet from the Sun.
So when I read an article recently that clearly explained that our world was going to end, and that it would be because of our own Sun, curiosity took over and naturally I read it. Just in case you are interested in the full article, here is the link.
When I was seven, I decided I wanted to be an Astronaut, right after the moon landings. Then a few years later, I realized I could never be an Astronaut because I wasn’t an American (though in the last decade or so that has changed). So I thought I would be a fighter pilot instead. I reached Year 11 in High School and enrolled in all the classes I needed, including the double maths classes. I quickly realized that I could not cope with the x’s and y’z over z’s. I was only any good with numbers that had dollar signs in front of them. So I dropped out of the high level maths, to the mid-level maths class and so ended my fighter pilot ambitions. I toyed with the idea of being an air traffic controller but that didn’t work because I didn’t have the multi-tasking skills required. Two years after I finished high school, the Air Force changed the maths requirements – the mid level maths would have been enough for me to qualify as a pilot.
But for the sake of an administrative policy I may have had a career flying F-111 or F-18’s and maybe retired to fly Jumbo jets as a commercial pilot. And I would not have had a career that included real estate sales – new homes and established, finance broking, financial planning, property investing, renovating and finally real estate development. And I would not have written five books on real estate investing, nor spent years educating thousands of people on how to achieve wealth via property.
Most investors are aware that housing markets across most parts of the country (Perth & Darwin excepted) have been in a prolonged state of price increases. The more aware will have drilled down to what has been driving the boom and will know that in answer to the demand, developers have been building apartments in record numbers, for record prices.
What is currently causing jitters is that no one seems to know if the number of apartments that have been constructed, are under construction or approved to be constructed, will ultimately prove to be too many for the demand. If so, many fear that could lead to a downward price spiral and a protracted period of flat growth in prices.
Let’s have a look at the situation from a macro viewpoint and see if we can make sense of it.
Last week in my Radio Wealth Episode 14 podcast, I shared with you some really exciting information about a home loan product that had an interest rate potentially as low as 2%.
Yes, TWO percent.
Needless to say it has caused quite a stir and there are lots of investors out there who have been emailing in asking questions.
One in all in I say, so I am going to reproduce a few of the best questions, and the answers here so that you can get a better feel for what the product is.
Welcome to the Radio Wealth Real Estate Financing Special broadcast.
If you have ever wanted to know what it takes to pay off your own home and then your investment property loans fast, then this show is an absolute must for you.
We have a special guest joining me in the studio, my friend Scott Parry, who is a finance and wealth creation specialist. Scott told me a few weeks ago about a new financing facility called Rate Reducer. I think that it is the most powerful system for paying off a home loan that I have ever seen for investors who have their own home and at least one investment property.
The Rate Reducer loan facility may be able to help you get a home loan that has an interest rate as low as 2%. Yes, that’s two percent.
So this twenty minute episode could be just the thing for you if you are looking to accelerate your wealth creation plan.
We are looking to create more special Radio Wealth shows with special guests – if you know someone we should be talking to, who has something valuable to share, do please let us know.
Or if you have your own questions, do send them in. Remember you can ask anything you like – this is your show. The questions can be about anything to do with life, freedom, property investing, finance, planning, goal-setting, inspiration – whatever you want to know that will help you along on your journey.
Feel free to email email@example.com with any questions you want answered on the show.
Have you ever wondered what motivates an athlete to devote countless hours of practice, training, pain and sacrifice, often physical as well as financial, to have the opportunity to compete in their chosen sport at the highest level? And what drives them to win?
In 1990, at the Commonwealth Games, Australian Andrew Lloyd found himself running against the current Olympic champion in the 5000m. With a lap to go he was in third place about 50m behind the race leader. At the final straight he somehow found a sprint to go past the 2nd placed American and then was about 15m behind the tiring John Ngugi from Kenya. Lloyd was just about done but victory was close. Something clicked inside Lloyd and instinct took over. He was famously quoted to have been thinking – “bugger the silver, go for gold.” Which he managed to do, defeating the Kenyan by a whisker.
If you are anything like me, you might have approached the current Rio Olympics with a bit of a “take it or leave it” attitude. But as the games have progressed I found myself increasingly drawn in to the excitement of the various competitions and the incredible stories of the athletes and teams.