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

Imagination can be used as a technique to see in your mind exactly how you want your life to be. Like a garden you must fill your mind and feed your imagination with the seeds you want to grow or the weeds will find there way in and take over. Using your imagination to change your financial situation is no different to elite atheletes seeing their race or game in their mind before taking part. Just like an athelete or a beautiful garden you must prepare or train for a better financial condition all the while using your imagination to see the outcome exactly the way you want it.

Be as clear as possible in your mind, find somewhere quiet, picture the colours, the people, your bank balance. Whatever you desire give it as much life as possible. This may take some practice for some but the more you engage in this excercise the more clearer your desired life will become.

Affirmations will support your imagination so find some that feel good and use them as well. The more positive you are and the more conscious effort you make to creating the life you desire the faster it will all come to you. Support yourself through this process of change allow yourself to feel good and worthy of all you desire. Remember to be grateful for what you have now and for the people in your life. A healthy balance must be maintained or all the wealth in the world will mean little if you lose the love and respect of those around you.

Some suggested affirmations.

• I deserve to succeed. I am a success.
• I am a motivated and energetic person.
• My life is filled with harmony and happiness.
• I am a positive and successful achiever.
• I feel good about my life. I can do it.
• I am at peace with my world.
• Every day I achieve more and more.
• Success is mine. I think BIG.
• I am a happy person. I enjoy life, it is good to me.
• Each day I do what needs to be done.
• I have the inner strength and confidence I need to succeed.

Have an Imaginative Day

Teresa and the Team at

AustraliaWealth.com.au

If you have a problem solving strategy in your success toolkit then obstacles can be easily overcome and you’ll be back on track for success in no time.

So what makes up a problem solving strategy:-

Keeping things simple - We live in such a fast paced complicated world it is as if we expect problems to be difficult to solve. We often only see the complicated solution this can sometimes be because we are to close to the problem. There is a story of a truck getting stuck in an underpass, engineers were called in to try and figure out a solution . They began making complex calculations, the way engineers do, only to have a young boy who was standing by suggest they let the air out of the tyres. Make a conscious effort to step back and look for a simpler approach, get someone who is not involved to take a fresh look or leave the problem alone for a while sometimes a simple solution will just come to you. You could save a lot of time by making an effort to keep things simple.

Approach the problem creatively – The more ways you look at the problem the better chance you have of finding a solution. There is always a lot more than one solution to any problem. Change your perception of the problem, put yourself on the other side of it. By writing down anything and everything that comes to mind no matter how crazy a solution will often surface, it sometimes helps to do this with a group in a brainstorming session.

Important or urgent, there’s a difference – When you are faced with a number of problems decide which are the important one’s and make them a priority. It is quite often that urgent matters are not necessarily important. If you are always dealing with the urgent you will always be busy but nothing of importance will be solved.

Recognise a Potential Crisis – There are usually some warning signs before a crisis has it’s full impact being proactive at this time by employing preventive maintenance will keep you on track to your goals.

Use your subconscious – Never underestimate the power of your subconscious, if you are unable to come up with a solution your best ally could be your subconscious. Stop trying so hard and let your subconscious take over, it can often see things more clearly than we can at a conscious level.

Have a Productive Day

Teresa and the Team at

AustraliaWealth.com.au

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

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

If I Had My Life to Live Over

I would have gone to bed when I was sick instead of pretending the earth would go into a holding pattern if I weren’t there for the day.

I would have burned the pink candle sculpted like a rose before it melted in storage.

I would have talked less and listened more.

I would have invited friends over to dinner even if the carpet was stained, or the sofa faded.

I would have eaten the popcorn in the’good’ living room and worried much less about the dirt when someone wanted to light a fire in the fireplace.

I would have taken the time to listen to my grandfather ramble about his youth.

I would have shared more of the responsibility carried by my husband.

I would never have insisted the car windows be rolled up on a summer day because my hair had just been teased and sprayed.

I would have sat on the lawn with my grass stains.

I would have cried and laughed less while watching television and more while watching life.

I would never have bought anything just because it was practical, wouldn’t show soil or was guaranteed to last a lifetime.

Instead of wishing away nine months of pregnancy, I’d have cherished every moment and realised that the wonderment growing inside me was the only chance in life to assist God in a miracle.

When my kids kissed me impetuously, I would never have said, “Later. Now go get washed up for dinner.” There would have been more “I love you’s.” More “I’m Sorry’s.”

But mostly given another shot at life, I would seize every minute…look at it and really see it, live it and never give it back. Stop sweating the small stuff.

Don’t worry about who doesn’t like you, who has more, or who’s doing what.

Instead, let’s cherish the relationship we have with those who do love us.

Let’s think about what God HAS blessed us with. And what we are doing each day to promote ourselves mentally, physically, emotionally.

I hope you all have a blessed day.

by Erma Bombeck

Erma wrote this after she found out she was dying from cancer. It may have been too late for Erma to live the kind of life she saw as more fulfilling and worthwhile, don’t let it be too late for you.

There are so many ways to invest in life with your enthusiasm, your gratitude, your energy. So many ways to create wealth so you can live financially free. Keep striving to promote yourself you have gifts within you, share them with the world.

I hope this short note from Erma will encourage you to examine where you are and choose a path that will lead you to a greater life, lived.

Have an Awesome Day

Teresa and the Team at

AbsoluteWealth.com.au

]]> http://australiawealth.com.au/blog/mindset/if-i-had-my-life-to-live-over-by-erma-bombeck/feed/ 0 http://australiawealth.com.au/blog/wealth-creation/15-basic-tips-to-ensure-sound-investing/ http://australiawealth.com.au/blog/wealth-creation/15-basic-tips-to-ensure-sound-investing/#comments Mon, 01 Mar 2010 12:38:52 +0000 Teresa Vidal http://australiawealth.com.au/blog/?p=542 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

It’s important to have your estate in order so that everything you are working hard to achieve in your life is handled the way you want. Here are a few tips to make sure that your wishes are clear when you are not around to explain for yourself.

Someone other than yourself needs to know where it is. Make sure your executors and at least one beneficiary know where your will is stored. If no one knows where your will is it’s the same as not having one.

Keep your will up to date. Review your will when circumstances change, births, deaths, marriages, divorce, buying or selling assets, setting up family trusts or taking out a major loan will all impact upon the nature of your will and the allocation of your assets.

Make your wishes clear and specific. If your intentions are not clear – if they can be interpreted in more than one way – you’re leaving your estate open to dispute. It can happen easily so be sure to get your will drafted by a professional.

Make sure any changes you make are done professionally. Don’t make changes on notes or rewrite an informal will, they can cause confusion and delays.

Don’t use beneficiaries as witnesses. Using a beneficiary or their spouse as a witness could mean any gift to them is invalid and they will not be entitled to any part of your estate.

Choose your executors carefully. Avoid appointing someone as an executor who might have a conflict of interest, such as a business partner, older people or people who might not be capable because of a lack of experience or knowledge in financial matters or because of time or business pressures.

Preparing your estate and making your will is an essential part of your financial plan don’t leave it until it’s too late and be sure to get professional advice.

Reference

McIntyre, J 2001, What I Didn’t Learn at School But Wish I Had.

Have an Amazing Day

Teresa and the Team at

AustraliaWealth.com.au

I couldn’t really answer. I was a wife and mother of four and of course I enjoyed being with my family but Jamie wanted more than that. He wanted to know what I enjoyed doing for me. I couldn’t understand why that was so hard to answer. It wasn’t just me though, there were others that couldn’t come up with much of a list.

We finally came to the conclusion that we had blocked out the things we enjoyed because we just didn’t have room for them in our lives. We either didn’t have enough time or money to enjoy them.

Is that how life is supposed to be?

Well everyone at that training session decided it wasn’t. If we wanted to increase our earning ability, not just a little but really increase it, we had to have a good reason. So that became our first task, to have some fun and work out what we really enjoyed doing.

Jamie explained that often when people have trouble with this it can be easier to start with all the things we don’t enjoy. So we began writing a list of all the things in our lives that caused us to feel angry, stressed, frustrated, fearful, dissatisfied or that we absolutely hated doing. As we did this we began to notice our feelings and how strongly we felt about not having those things in our life anymore.

Once we got through this list it was a lot easier to think of what our hearts really desired in our lives, what made us happy and fulfilled, what energised and motivated us and how we felt about not having them in our lives. The whole point of the excercise was to work out why these things weren’t a part of our lives and decide what we needed to do to change that.

At that training session we learnt that being motivated to create wealth in your life often offers some very important side benefits. Creating wealth is not just about earning more money it’s about having a better, more fulfilling and balanced life. Often the reason most people don’t live more financially fulfilling lives is because they have given up on, or never had, a reason why. They have forgotten what they really enjoy.

So let me ask you. ‘What do you enjoy’?

Have a Day you Enjoy

Teresa and the Team at

AustraliaWealth.com.au

• The Security Bucket, The Growth Bucket, The Momentum Bucket and the Lifestyle Bucket.

The Security Bucket is low risk investments. These include cash management trust accounts ie cash. Insurance would also be in here, eg income protection, disability and health, use a broker as they will find what suits you best.

Growth Bucket investments include renting shares, residential property and quality companies.

The Momentum Bucket would cover renting shares, commercial property and traditional business. Be careful here as traditional business can be one of the highest risk strategies if not done properly and funded from the right sources (ie. not your home).

The Lifestyle Bucket is for funding lifestyle investments such as holiday homes, a restaurant because you always wanted one or a hobby farm if that’s your dream. Hopefully these can also be growth investments but if not your  other investments should help fund your lifestyle ones. The reason for these buckets is to stop you from choosing the wrong kinds of strategies and using all your money to do it. By using the buckets you divide your wealth into different levels of risk instead of choosing to put everything into one hot tip and possibly losing most, if not all, of your investment.

The whole process that Jamie teaches is aimed at increasing your financial intelligence but in doing so you also have to have control of your emotions. The buckets help with our emotional intelligence they teach us to not be attached to outcomes, instead because the risk is spread we can take a certain amount of risk with one bucket while ensuring the security of another. Combining good financial intelligence with sound emotional intelligence will ensure you’re on the road to strong financial growth.

Have a Profitable Day

Teresa and the Team at

AustraliaWealth.com.au

Reference: What I Didn’t Learn st School But Wish I Had, Jamie McIntyre, 2002.