HAVE YOUR OWN PROPERTY PAID FOR AND STILL GROW AN INCOME.
Category : Insights
Did anyone see 4Corners last night (Mon 21st)
Is this supposed re adjustment from skeptics or is there something more to this? Which ever way the wind blows, the time is here to realign your thinking about the security of your family and the inevitability of the day you decide to finish work. But why let anyone esle decide on your behalf. BE IN THE POSITION WHERE YOU CAN DECIDE. It really is now UP TO YOU.
Now I know that we’ve all heard experts say “watch out, it’s coming” the CRASH I’m talking about. That talk comes in cycles. However, what’s worrying this time is the fact that household debt in Australia is now second highest in the world. Us Aussie home owners, on average, have ONE DOLLAR coming in but an outgoing TWO DOLLAR debt. How is this going to work? Owning real estate in Australia is debt driven and we’ve been conned. Banks and the media are the main drivers of this with the politicians turning a blind eye. We used to have a saying in the eastern suburbs of Sydney that buyers here have a sickness called FOMO (fear of missing out) Real estate is almost like a sport. You packed up the kids on a Saturday morning and it was off to the open houses and/or auctions. You meet up with your friends and you discuss what you had seen and swap “maybe” “possibly” stories over a latte coffee.
We’ve been very lucking in Australia. 25 to 30 years of uninterrupted growth, pretty damn good employment figures and low mortgage interest rates, creating what could be a perfect storm of a (likely) adjustment. Now the reality is sinking in. We are living in an age of “huge disruption” Our very livelihood is about to change course. It’s already happening. Uber, Airbnb, Bitcoin and the new age of robots all coming to a workplace near you. Our main manufacturing has gone, agriculture is struggling, companies are being bought out or moving off shore, wages have been stagnate for a number of years and the real unemployment rate, especially those in the 24 to 35 year group are almost at double figures. There is a tremendous amount of angst out there, plain ordinary worry to moms and dads and even the young dreamers. Along with those good times, came the cowboys who were smart and slick and had a sales pitch you just couldn’t refuse. After all, you didn’t even have to find the cash to get into this you beaut investment. Just use that equity maaate. Naive, gullible, short sightedness “but the banks just gave me the money within the week”.
MY BIGGEST TIP FOR ALL WHO HAVE A MORTGAGE AND WHILE YOU STILL HAVE A JOB.
Do your best to get a $50k or better still, a $100k line of credit from your mortgage provider. Do whatever it takes to get this (might cost you a few hundred to get valuation and set up). Then cut up that card. Do not touch this line of credit at the fear of death. Then ring up your insurance broker and set up a PERMANENT SICKNESS AND ACCIDENT DISABILITY insurance policy where benefits aren’t paid until 12 months if there is a claim. You will be staggered in how cheap this premium really is, and its tax deductible. Now you will be saying what’s this all about and there is a very logical and protective reason for these two steps. Don’t get caught out. Full explanation as to why email me email@example.com
But I digress.
Perhaps this has been the mentality that we were taught for all those years. Get a trade, go to uni, get that one job and stick with it for life. Our teachers and even our parents hammered this into us. And if things got tight, just go get a second job down at the club and “she’ll be right” Sorry, goooone. All out the window. What jobs, what industry? Australia’s economy is driven largely by the building industry. If that fails, ladies and gentlemen, we are fucked. It might be that we will become employed by Asian owners and they will tell us which jobs are available and at what wage. And what if we went back to school or we got retrained. For what job? It’s a new age folks. The new stuff that we will be living with will be robotics, digital commerce, the service industry, education. It may sound dim but with all the old out of date work mentality thrown out the window, new opportunities will be created and succeeded with. That will happen soon enough but what happens NOW. What if there’s a huge revaluation of real estate around the corner. What happens if your company has just been bought by an overseas company and they’ve put the cutters through it and you’ve been tossed onto the “used by” pile. What happens if they keep you on but you have to take a wage adjustment. What happens if you’ve had an accident, you’re off work for a month or two and you find that they don’t want you back. What if you can’t even get back into the workforce due to your injury or sickness. This is happening every day now folks. Read the papers, look at the evening news. The worry is literally killing people.
YOU DON’T HAVE TO ACCEPT AN UNCERTAIN FUTURE. START NOW FOR YOUR SECURITY
We have basically been taught to live in a single income lifestyle. As little as ten years ago we never heard the terminology, passive income, creating several passive income streams. Now more than ever before you as a young person or a middle aged (35,40 year olds) person MUST at least consider looking at the many opportunities that this new digital age has brought us. Because of this new way of conducting business, never before has there been the systems and programs available which can create multiple streams of income to those who take the time to understand the very simple ways in which this income can be created. There is an industry out there which has all the razzle dazzle to try and entice you to their marketing systems promising you easy wealth. MONEY CAN BE MADE but creating this money could cost you thousands or if done right, very little to reasonable amounts which won’t kill you. Most of what you can learn is FREE. But you have to know where to look and how to put it together and be almost guaranteed to be a success.
LEARN HOW TO FUND YOUR ONLINE BUSINESS, HAVE RECURRING INCOME 24/7 AND BUILD A REAL ESTAE PORTFOLIO THAT WILL BE THE ENVY YOUR NETWORK OF FRIENDS.
The trick is to find a MENTOR or a COACH who has your success very much in mind with their success. Get in touch with me and let me show you how anyone can achieve what you may only dream about. firstname.lastname@example.org