Archive for the ‘Wealth Creation’ Category

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Thoughts from Successful Thinkers

Wednesday, April 7th, 2010

Writing as often as I can in this blog on wealth creation keeps me focused on my own journey. As I write with the idea that I can hopefully help others, it is also true that I will benefit, so I thank you for that.

Because of this blog I am constantly reading and researching the thoughts and ideas of many successful people. Lately D.J Swhartz, Ph.D author of The Magic of Thinking Big has been one of the books I have been studying. I want to share some of the successful thoughts from this book for you to examine and consider if they have a place in your thinking.

  • Becoming successful means making the most of yourself. Making the most of yourself means believing you are capable of doing or becoming whatever you set your mind to.
  • Successful people live until they die. No matter what are you living the life you have to the fullest? Making the most of what you have no matter how little is a crucial step to living successfully.
  • Use the skills you have. You have skills but if you don’t use them they are of no use. Your skils don’t even have to be of the highest level, with interest, enthusiasm and a positive attitude you can be a great success.
  • Your attitude can make you or break you. This is true in every area of your life. Choose the right attitude, be positive.
  • Every action you take will have an effect. Are your actions creating the effects you want? If not you can change them your actions are your choice.
  • How do you present yourself to the world? You don’t have to spend a lot to stand tall, smile and dress as well as you can.
  • Know the people in your daily life. What do they love, what are they dreams, their fears? Developing an interest in others creates successful relationships.

These are just some of the things to examine and consider on your journey of success and wealth creation and remember it’s all about enjoying the trip.

Have a Fun Day

Teresa and Team at

AustraliaWealth.com.au

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21st Century Education

Saturday, March 27th, 2010

Your 21st Century Education can go from strength to strengh with the release of Jamie McIntyres new 21st Century Wealth Educator magazine. If the first edition, which was released earlier this month, is an indication of whats to come then you will always have plenty to learn and keep you informed.   One of the main articles covers an interview with Richard Branson where he shares seven key lessons for business and life. Not to be outdone Warren Buffett shares his thoughts on being a billionaire.

Of course we are all starting to realise the benefit of a correct mindset, one that is attuned to and focused towards wealth creation and success. Jamie would never leave this area uncovered and who else would he choose to be a part of his first edition but Napolean Hill. The timeless strategies first published over 70 years ago in Think and Grow Rich need constant revisiting and more so now as we dust ourselves off after the worst financial crisis the world has seen.

What you will also learn in the first edition of the new Wealth Educator magazine is reassurance that Australia is still sitting pretty when it comes to wealth creation through property. Jamie explains that Australia is in a solid position and will grow stronger in the future due to our strong trade relationship with China and our ability to cope with population growth. Interest rates are rising but only so we can have steady property growth and not a bubble effect that is difficult or impossible to sustain.

Also in the area of property we learn from Konrad Bobilak, that property investing is not necessarily about property but more about managing the amount of good debt you use to acquire appreciating assets. An interesting fact worth noting in this article is The Pareto Principle, otherwise known as the 80/20 rule, which states that 80% of effects are caused by 20% of causes. This principle has been proven in many different scenarios and in wealth creation it simply means that 80% of your wealth will come from 20% of your investment strategies.

Successful wealth creation in the 21st century will come from being well informed and well educated and Jamie is doing his best to ensure he provides you with the best education possible.

Have a Successful Day

Teresa and the Team at

AustraliaWealth.com.au

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The Salesman’s Prayer ~ Og Mandino

Tuesday, March 23rd, 2010

The following prayer is included in Og Mandino’s book, The Greatest Salesman in the World. What has this got to do with investing? Well in a way we are all sales people in one way or another.

Jamie McIntyre has said that if you learn the skills of sales well enough, if you are honest and work with integrity you have the potential to substantially increase your income a thousand times over. I believe this prayer is versatile enough to carry you through many situations in life. It will certainly assist you to maintain the right mindset for wealth creation. My husband memorised it and could recite it when he needed to, I hope you find something in it for yourself.

The Salesman’s Prayer by Og Mandino
Oh creator of all things, help me. For this day I go out into the world naked & alone, & without your hand to guide me I will wander far from the path, which leads to success & happiness.
I ask not for gold or garments or even opportunities equal to my ability; instead, guide me so that I
may acquire ability equal to my opportunities.
You have taught the lion & the eagle how to hunt & prosper with teeth & claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men & an eagle in the market place.
Help me to remain humble through obstacles & failures; yet hide not from mine eyes the prize that
will come with victory.
Assign me tasks to which others have failed, yet guide me to pluck the seeds of success from their
failures. Confront me with fears that will temper my spirits; yet endow me with courage to laugh at
my misgivings.
Spare me sufficient days to reach my goals; yet help me to live this day as though it be my last.
Guide me in my words that they may bear fruit; yet silence me from gossip that none be maligned.
Discipline me in the habit of trying & trying again; yet show me the way to make use of the law of
averages. Favor me with alertness to recognize opportunity; yet endow me with patience, which will concentrate my strength.
Bathe me in good habits that the bad ones may drown; yet grant me compassion for weakness in
others. Suffer me to know that all things shall pass; yet help me to count my blessings of today.
Expose me to hate so it not be a stranger; yet fill my cup with love to turn strangers into friends.
But all these things be only if thy will. I am a small & a lonely grape clutching the vine yet thou hast
made me different from all others. Verily, there must be a special place for me. Guide me. Help me.
Show me the way.
Let me become all you planned for me when my seed was selected by you to sprout in the vineyard of the world.
Help this humble salesman.
Guide me, God.

Have a Fantastic Day

Teresa and the Team at

AustraliaWealth.com.au

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Saving for Wealth Creation

Friday, March 19th, 2010

In our quest to create wealth we sometimes overlook the importance of saving. Saving is the foundation of wealth creation. If you haven’t been a great saver and you are serious about creating wealth than you had better get started.

In order to achieve wealth you have to get into the habit of spending less than you earn. A regular savings plan that transfers a portion of your income straight into a dedicated savings account, before you can touch it, is a great way to ensure you stick to this rule. Working out a budget for the remainder of your income so you will always cover your expenses and have some left to enjoy is another key factor in your wealth creation plan.

An important point to remember is that wealth creation is not about what or how much you earn but how much you spend. There are people I have met with average incomes that are in much better financial positions than others on higher incomes. Be wise, don’t trade a future of financial security with immediate rewards that include far too many unnecessary items.

Again if you are serious about creating wealth you will adopt an attitude that accepts if you can’t afford it – you can’t afford it. A good strategy is to make a promise to yourself never to buy on impulse – go home and sleep on it, you then have time to decide if the item fits in with your plans to be financially free.

One very important rule for accumulating wealth is to avoid bad debt completely, that is no credit cards unless you are disciplined enough to pay the full amount owing every month. It is very easy, as we all know, to fall into credit card debt and can be very difficult to get out of. I am so grateful that two of my now adult children have never owned a credit card and have promised me they never will. My eldest, was old enough for a credit card a bit before debit cards came into use and he has been struggling for five years to get out of holiday credit debt.

Using a debit card that acts like a credit card but utilises your own cash makes much more sense it provides the convenience without the debt. When you do have to buy shop around and wait for sales every dollar you don’t spend has potential to earn you more. Buy in bulk when you can, take your lunch to work, buying second hand will not only save you money but also the environment.

Save in areas that are difficult for you to access such as your super or your mortgage. You do need a level of commitment to stick to a savings plan but imagine the freedom you will feel as you watch the balance grow over the years. Obviously the earlier you start the better and if you have young people in your life teach them. Even a dollar a day saved from a young age until retirement will have made you a millionaire by the time you reach that stage in your life.

Have a Wealth Inspired Day

Teresa and the Team at

AustraliaWealth.com.au

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Some Big Thinking Tips for Success

Thursday, March 18th, 2010

Believe you can succeed. Believing in yourself generates the power, skill and energy you need to take the action you need to succeed.

Believing you can do it will give you the energy to find how to do it.

Respect and learn from those that have succeeded before you but believe you can achieve and succeed even more.

A person is a product of his thoughts, adjust your themostat for forward motion. Believe big and grow big.

Your thoughts can take you forward or hold you back depending on the words you give power to. Allow negative words like can’t or impossible in and they will gain strength. Take charge only permit words like can and possible and they too will gain strength.

Believe in yourself, believe you can succeed.

Plan for self development and growth. We are never finished making improvements in this life. Plan in the areas you wish to improve and act conscientiously and with commitment.

Be grateful for all you have. Count the blessings in your life, recall your victories and always look for the good.

Realise everyone is important and make others feel that way, you are also important so be good to you.

Always give more than is expected of you.

Encourage others to talk and concentrate on what is being said.

Surround yourself with people who are positive and willing to support and encourage you in your plans for success.

Manage and upgrade your thinking. Upgrading your thinking upgrades your actions and this produces success.

These are a few tips from The Magic of Thinking Big by David J Schwartz Ph.D.

Have a positive day

Teresa and the Team at

AustraliaWealth.com.au

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Income is Good But Capital Growth is Better

Wednesday, March 10th, 2010

So you have you have decided it’s time to start thinking about investing. It is actually a very critical issue in today’s society and economic situation. When Centrelink starts offering investment seminars it’s time to realise the government needs you to be financially independant. Their rescources aren’t going to be enough to go around. The number of taxpayers per pensioner is less and less. Finding funding to support an individual who may live 20 years past retirement is already difficult as is reflected in just how little they recieve.

All that should make it pretty clear that investment has to be a part of everybodies budget. Income is no longer enough on its own, it has to be used to create capital growth, that’s where the real money is. One of the greatest opportunities in Australia for capital growth is in property and residential property is the greatest perfomer. The majority of millionaires have made their wealth through property both in Australia and Worldwide.

Residential property gives your money a great deal of leverage, meaning with just a small amount of money you can secure a property of much greater value, with the added ability of increasing it’s value. Remember the whole purpose here is to create wealth for yourself and your family, your future is up to you. I hope that as many people as possible can see the importance of doing more than just earning an income.

Property investment is a long term wealth creation strategy, at least that is where you will find you have the most benefits, the least expenses and the greatest potential for gain. The idea is to start small by buying a property that is affordable to the majority of middle income earners. Wait for capital growth, build some equity and then repeat the process. The simpler you make it by following proven methods and strategies the more enjoyable and rewarding the experience.

Have an Incredible Day

Teresa and the Team at

AustraliaWealth.com.au

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Property 2010

Tuesday, March 9th, 2010

Interest rates are on the rise again, I just got my notice in the mail. Since just before Chistmas my monthly repayment has increased by around $300. It would make anyone wonder whether investing in property is currently worthwhile. The economy has certainly taken a lot of us for a wild ride but investment is still a necessary part of your future financial security. Learning as much as you can about investing and creating your own wealth will be of benefit to you and your family, we can no longer rely on government resources as we have in the past.

Is property still a valuable source of financial security? Does it still offer the same rewards as it has in the past? Is it a viable way to create wealth in our current economy?

Yes, property is still looking good. Australia is still struggling to keep up with it’s population growth, there are still not enough properties to go around, this is a plus for property investors. Tighter lending criteria in the banking industry is another plus if you are considering using property investment for wealth creation.

The housing market runs on a 7-10 year cycle with many properties doubling in value during this time, so be prepared to wait, using a buy and hold strategy. Taking advantage of increasing equity over that time (by buying more properties) can assist you in building a healthy property portfolio that will help fund your retirement. Learn as much as you can about the property market and the area you wish to invest in, study the various strategies open to you and find the one that suits you best. Read books, attend seminars or look into various homestudy programs any or all of these will assist you in making the most out of your chosen investment strategy.

Some questions to consider and answer when thinking about property investment in 2010…

  • Is negative or positive gearing better for you?
  • What are the benefits of an interest only loan?
  • What is the best way to purchase the property, in your name, in a trust or in your spouse’s name?
  • What are the investors important checklist criteria when choosing a property?
  • What do renters want?

These are just some of the points to consider, the answers may vary depending on your situation and your goals. Getting expert advice is always a good idea. Property is still a worthwhile investment in 2010 providing you do your research, know what to look for and are making an educated informed decision.

Have an Impressive Day

Teresa and the Team at

AustraliaWealth.com.au

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Getting the Most out of Your Goals

Saturday, March 6th, 2010

More and more people are becoming aware of the need to have goals in many areas of their lives but it is a good idea to refresh what you know and check you are on track.

This week I have been going over some lessons in Og Mandino’s book University of Success, while reading the lesson on goals I realised I didn’t have it all covered. Goal setting is about programming yourself for success and even though we may all be aware of goal setting we may not be putting it to good enough use in our lives.

Goal setting helps you plan for a better future, without a goal and therefore a destination to head for you could end up anywhere. Where do you want to be in the future – in a week, a month, a year, five or ten years? Goals can also be used in more than just your career. Goals should also cover what you want to achive in relationships with your partner, your friends and your children.

  • Setting goals in your area of income will help you achive financial security and a lifestyle you enjoy.
  • Setting goals in your marriage could keep your relationship alive and add a greater depth of meaning and love.
  • Setting goals in the area of children – this may be one you haven’t considered beyond giving them an education. Many parent / child relationships break down in the teenage years because no clear goals have been thought about for the kind of relationship you want with your child or parent. A lot of emotional heartache can be avoided if this is considered and discussed.
  • If you are single you may want to plan and set goals to find a fulfilling life relationship. It has been said that people tend to put more time and effort into buying a car than into choosing the person to spend their life with.
  • Setting goals in the area of friendship will help to keep these relationships strong and meaningful, without them you may find your friendships are shallow and superficial.

Some of these may give cause for thought…

  • How is your life at work going?
  • Are you where you want to be, what can you do?
  • How is your relationship with your spouse, can you do more?
  • How are your relstionships with your children, your friends?
  • Do they feel how much you value them?
  • How is your day to day existence, could it be better?

Be imaginative and creative in your ideas on how to enhance, improve or change anything in these areas of your life.

Our lives should not just be an existence they should, for as long as we live and beyond, be a creation.

Have an Inspiring Day

Teresa and the Team at

AustraliaWealth.com.au

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Learn to Earn in Today’s Market

Friday, March 5th, 2010

Traditional education is not going to help everyone become financially secure and I think most people are aware of that these days. A university degree will give you the potential to earn a higher income but with a 21st Century style education even those with limited schooling can become extremly wealthy.

What is a 21st Century style education?

In order to answer that properly let’s  briefly look first at where we’ve come from. Education has traditionally equipped us with certain skills, reading, writing, the ability to measure and quantify our world as well as providing us with the means to acquire knowledge. However it has lacked and is still lacking, to a degree, in teaching students how to survive in the world. Especially a fast changing world, and to successfully manage themselves in a new world economy.

Financially life will never be the way it was, we must face a new reality and be prepared to grow and change with it. A 21st century education has the means to help anyone who is willing to become financially independant. There are so many strategies in share, property and business investment to reach any level of income you desire. Strategies for the low or high risk investor, for investors with a lot or little to invest as well as methods to secure your investment from loss.

So where can you get this education?

From books, seminars, dvds and homestudy programs. As long as you are learning strategies that you can implement yourself, and you are not giving anyone your money to invest for you, you are on the right track. You must learn and understand what you are investing in.

You may be in a job you love and all your needs are being met but if anything should happen to change that situation what is your Plan B. The answer could lie in a 21st century education.

Have an Incredible Day

Teresa and the team at

AustraliaWealth.com.au

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15 Basic Tips to Ensure Sound Investing

Monday, March 1st, 2010

Rules You Can’t Afford to Forget

  1. Be diversified. Most people never explore all the investment opportunities available to them. For every strategy you choose another eight or nine are available.
  2. Be aware that every year, no matter what the financial markets are like, there will always be  opportunities for profitable investment. This is where diversification is beneficial.
  3. There are two ways to make profits from investing, sell something for a higher price than you bought it or own an investment that will generate a rising level of income that earns you more than a fixed interest investment.
  4. Be aware no investment is ideal and every one carries a risk return trade off.
  5. Always base your investments on facts not hope. Hoping an investment will do well carries a much higher risk.
  6. Never risk more than ten per cent of your capital on a single investment.
  7. Avoid spur-of-the-moment investment decisions. Few people make sound decisions this way especially if someone is pressuring you to buy.
  8. Always invest at your own pace, never feel pressured if it doesn’t feel right.
  9. Be honest with yourself and aware of your own skill level by assessing your own successful investments.
  10. Always know as much as you can about what you’re investing in and the risk involved. Never invest in anything you don’t understand.
  11. Never give anyone discretion to invest your money because you don’t understand the investment.
  12. Understand your own personal capacity for risk, your comfort level.
  13. Write down your investment strategy and stick to it.
  14. Be prepared to sell investments if they are out of your comfort level.
  15. If you want to make money learn your strategies well and be prepared to give the time required to do so.

Have an Amazing Day

Teresa and the Team at

AustraliaWealth.com.au

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