Posts Tagged ‘Jamie McIntyre’

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What Do You Enjoy?

Friday, February 26th, 2010

I remember being at a business training session some time ago with Jamie McIntyre as the trainer and before we got started, Jamie asked everyone, ‘What do you enjoy doing?’

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

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4 More Steps on the Road to Wealth

Saturday, February 20th, 2010

We have already looked at the first four steps on the path to wealth, in this post we will learn four more, together they make up Jamies‘ eight steps to becoming a millionaire which he learnt from his millionaire mentors.

It is necessary to understand that creating wealth is made up of several different forms of income and the goal is to create a system of wealth producing ventures that will earn money without you being there or doing anything. These steps are setting you up to begin your wealth creation system.

STEP 5 – OPM

OPM stands for Other Peoples Money, it is possible to use other people’s money to invest but it is something that has to be considered carefully by weighing up all relevant facts. For example if you were to take out a personal loan it would mean you have money to invest with straight away and the opportunity to earn income from that investment. What you would have to consider is your current situation, the cost of the loan to you, the potential risk of your investment and the potential earnings. Borrowing money to invest can get you started but it must be carefully considered before going ahead so you don’t end up worse off than before you started.

STEP 6 – USING EQUITY

If you own your home or are paying off a mortgage there’s a good chance you have or will have equity. Equity is the portion of your home that is yours above and beyond what you owe to the bank. Equity can be used to build wealth. Investing in property or secure, insured share strategies offer low risk ways of creating wealth out of your equity.

STEP 7 – PARENTS EQUITY

If you don’t have your own home it may be possible to use the equity in your parents or grandparents home. Many people have done this successfully myself included, my husband and I purchased our first property using his mothers home as security for a short period of time. Once the value in our property had increased enough to secure the mortgage we were able to release my mother-in laws property with no cost to her at all. In the majority of situations in Australia, where property is concerned, you have an appreciating asset. This means, providing you do your homework, you have managable risk that will increase in value and create wealth for you.

STEP 8 – SUPERANNUATION

Learning what you can about super is a good idea, having your own self managed super fund could work out to be more beneficial, as long as you are prepared to learn and understand the rules and regulations and how to make it work for you. If you have your own self managed super fund you can choose your investments and take an active role in funding your retirement.

So now you have eight steps that will help to get you started in creating a life of wealth and financial freedom. Everything we do in life comes with a certain amount of risk but to do nothing is even riskier, none of us are going to get out of this alive, so live as much as you can.

Have a Wonderful Day

Teresa and the Team at

AustraliaWealth.com.au

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4 Steps on the Road to Wealth

Friday, February 19th, 2010

Every journey has to start somewhere, it doesn’t matter where you start but if you have a destination you want to reach then you have to start from somewhere. In other words if you want a life of financial freedom then it doesn’t matter what your financial situation is now what matters is you start doing what it to takes to achieve that.

In Jamie McIntyres book What I Didn’t Learn in School But Wish I Had he covers eight steps to get yourself in a situation where you can begin to invest. Then your investments can start generating some passive income, that is income that doesn’t require you being there to earn.

These are Jamie’s 8 Steps to Start You on the Path to Becoming a Millionaire:-

STEP 1 – SAVINGS

Saving will always be your first step to wealth. It doesn’t matter how much you earn you always need to save at least 10%. Learn this principle well, teach it to your kids as soon as they can understand, no matter what you earn or what you owe, SAVE. Even if you can’t manage 10% at first, save whatever you can, pay yourself first. Developing a savings habit creates a mental shift that makes wealth creation possible.

STEP 2 – SELL SOMETHING

Most of us have accumulated more stuff than we need or use – sell it. You would be surprised how much cash you can make by cleaning up and clearing out all those items. Use the money you make to begin your savings plan or to start an investment strategy.

STEP 3 – TAX

This step is about minimising the tax you pay. The majority of Australians, the middle income earners pay huge amounts of tax, there are legal ways to reduce the tax you pay. Tax rules are constantly changing so it’s best to ask your accountant some ways you can minimise the tax you pay.

STEP 4 – INCOME

You may be thinking an increase in income is easier said than done, that may be true but not impossible. One very important skill of the current century is the ability to think creatively and solve problems, if you can do this in your current field you have a valuable skill. Effective communication is another sort after ability that has the potential to earn you rewards. The ability to market a new idea or concept and bring it to reality can earn you huge amounts whether in your current field or independant of it. The art of negotiation is also a valuable skill, one or all of these skills have the potential to increase your income and put you in a position to negotiate a better wage or payment plan for yourself.

In the next post we will complete Jamies total of eight steps,

Have an Incredible Day

Teresa and the Team at

AustraliaWealth.com.au

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Debt Help

Tuesday, February 16th, 2010

Bad debt is easy to get but getting rid of it can be like a ball and chain around your neck. In Jamie McIntyres book, What I Didn’t Learn at School But Wish I Had he covers a debt reduction strategy that can help reverse the situation.

Remember there are two kinds of debt, good debt and bad debt. Bad debt is the kind that once purchased goes down in value and is usually not tax deductible such as holidays, clothes and cars. Good debt on the other hand is when you buy something that goes up in value and has a number of tax deductions, such as property or shares.

Jamie’s strategy is designed to get your bad debt under control so you have the opportunity to increase your good debt and create more wealth in your life.

First of all list all your debts as shown in the example below:-

  • Personal Loan      25 000   Payment Amt      520            Factor        60
  • Credit Card              5 500   Payment Amt      160            Factor        34
  • Store Card                4 500   Payment Amt      160            Factor       28

Total                       35 000   Payment Amt      840 per month

In this scenario the factor is the number of payments left to make. By taking the lowest factor, being the least number of payments to finalise the debt, and increasing the payment with any extra money you have you will decrease the amount of time required to finalise it. For example, let’s say you decide not to go out for dinner once in the month and that gives you $100 to spare, add this to the $160 store card payment, this will reduce the factor to 17. So ,in seventeen months your total store card debt will be gone and you can then add $260 to the credit card debt. So now you are able to pay $260 + the original $160  = $420 off the debt per month. This means your credit card can be paid off in thirteen months instead of thirty four.

These figures are a little off due to balance adjustments as payments are made, but I hope you get the idea and can apply it to your own debt.

The most important thing to do if debt has got out of control is to contact the lender, inform them of your situation so you can work out an acceptable payment arrangement.

Have a great day

Teresa and the Team at

AustraliaWealth.com.au

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21 Point Checklist for Property Investors

Wednesday, January 20th, 2010

If you have started searching for property you can follow this checklist put together by some top Australian property investors as a guide to help you build a successful property portfolio.

1. Select properties within the $250,000 to $500,000 price range.

Properties priced below $250,000 will either be too small, not have the desired quality finishes or not be in the best possible area. If the property is over $500,000 it moves out of an affordable price range for majority of renters

2. Select properties within sought after ‘lifestyle’ locations that will attract consistent rental demand by quality tenants.

Choose established properties in established residential areas.

3. Select properties in areas within 15kms of the CBD but not the CBD or some CBD fringe areas.

4. Select properties within suburbs and streets where limited land is available.

If there is limited land available for further development you will have less competition for tenants.Property values will increase at a greater rate. Limited land also means that the area is in demand – people want to live there.

5. Select properties in areas with proven capital growth over the past 5 years.

6. Select properties close to the water  eg beaches, oceans and rivers.

7. Select properties in suburbs which have a high rental demand.

First call and then visit the top agents in the area and check their rental lists to assess the rental demand, eg. check how many properties are on their ‘For Lease’ list.Talk to the agents rental manager in regard to rental growth in the area.

8. Select properties in areas which have affluent tenants with high disposable income.

9. Select properties close to public transport.

10. Select properties which are in demand from corporate tenants.

Corporate tenants pay more money and are very secure. You can call Relocation Agencies (listed in the Yellow Pages) to find out what suburbs coporate tenants prefer.

11. Select properties close to educational facilities:universities, major public and private schools.

12. Select properties close to major sporting, dining and entertainment precincts.

Eating out is a popular pastime, sporting and entertainment are high on renters criteria when choosing where they will rent.

13. Select properties which have land content.

The general rule is that land appreciates in value and buildings depreciate. This rule is challenged in some areas where high rise apartments command higher prices than some houses in the same area because of the views they offer.

14. Select townhouse style properties.

Townhouses are often preferred over apartments by renters because they are more house like yet still low maintenance. They also offer a higher degree of privacy and security and are cheaper in body corporate fees.

15. Select properties that offer high depreciation and taxation benefits.

If there is no depreciation schedule with a property you are considering purchasing you can engage a quantity surveyor to Perform a Depreciation Schedule Analysis on the property. The higher the depreciation allowance for the property the greater the tax benefit which equals less cost to you in property maintenance.

16. Select properties within projects whose income is not based on short term or holiday letting.

This refers to the holiday based investment where your income is really dependant on the tenant, with little capital growth invovlved. These are within complexes where you are also competing for tenants with other similar properties. This lowers the demand for your property and lower demand equals lower returns.

17. Select properties that are located within smaller low rise boutique style properties.

Buildings with less than 35 units. Larger complexes invite many problems as you cannot control what other owners sell their properties for. If a property is sold at a lower price for personal reason’s the lower price will automatically be transferred to the other units.

18. Selecting a property where the price of the property offers at least a 5% gross rental return based on the long term rental guarantee the real estate agent is willing to provide.

Ask the agent to provide you with a rental price which they are absolutely sure is achievable in the worst case scenario. If the promised and agreed rental is not achieved by the rental agent after two weeks of trying to lease the property, the agent will receive no ‘marketing money’ and will have to make up the difference between the rental guarantee and the actual rental price of the property.

19. Select properties within projects which are guaranteed to be built and completed.

Even large developers can run into problems and decide not to proceed with a project. Check what guarantees are in place before signing any contracts.

20. Do not purchase off-the-plan property which is being sold ’subject to permit’.

21. Select properties which have 3 bedrooms to increase rental income.

Only purchase properties that contain 3 bedrooms or a minimum of 2 bedrooms. One of your goals should be to increase the rental price of your property every year as much as possible. Achieving the highest possible rental returns is far easier with a three bedroom property.

You may be able to overlook some of the above criteria if the property is below market value due to vendor circumstances, but you still need to be able to achieve capital growth and good rental returns.

Have an enthusiastic day

Teresa and the Team at

AustraliaWealth.com.au

Reference: Jamie McIntyre, What I Didn’t Learn at School But Wish I Had, 2002 pp 218-223.


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Your Wealth Creation System by Jamie McIntyre

Tuesday, January 19th, 2010

WealthCreation is probably the most important aspect of financial planning. It is through this strategy that we can become financially independent, yet it is an area in which very few people are skilled or familiar with.

The foundation is strategic spending. Most of us know how much we earn each year, but have no idea what we spend the money on. Like every successful business, we need to constantly monitor income and expenditure while also ensuring that we are making a profit.  In other words saving money.

We have created a strategic spending sysytem which has worked successfully for clients for many years now. The idea of strategic spending is to divide your hard earned income into small , easily controlled bundles. The first bundle taken out is  of course savings, a minimum of ten percent of your gross payment, which is transferred monthly into a management account. Don’t leave savings until you pay everything else.

The second bundle goes into the daily living account or your cash account. This account is for daily expenses that are usually paid for with cash, and can be accessed with a atm key card.

The third bundle is your Operations Account. This is for those larger amounts which are usually paid monthly, quarterly or yearly. This account should not be linked to the cash account or accessed by your keycard. This account can be linked to a credit card for use when your monthly expenses are higher than the budgeted amount.

In addition to your savings which go into your Cash Management Trust Account, you should also put in enough funds to cover all your tax deductible expenses. This will save time and effort at tax time.

The system is linked by a transfer account in which your pay goes into. From there periodic payments are set up to transfer funds to all the accounts on the 15th of each month. You should maintain a small float in the Cash Account and the Operations Account. The idea is to manage your finances as you would a business and profit, building up as much as you can in the Cash Management Trust Account and use those funds wisely to create wealth.

Have a day filled with laughter,

Teresa and the Team at

AustraliaWealth.com.au
Reference; Excert from What I Didn-t Learn at School But Wish I Had. by Jamie McIntyre

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What Will Your Legacy Be?

Saturday, January 16th, 2010

If you’re not already successful, or haven’t started on your journey to success, you’re probably sitting there saying to yourself, “I can’t be successful” or “There’s no use doing anything about it because…”, “…I have no money.”, “…I’m not good enough.”, “…I don’t know what to do”,…”I’m too old,” whatever your reason may be, you need to get over it. Just for example, if Beethoven can be born deaf and go on to be one of the world’s greatest composers, and Joni Erickson who is paralysed from the neck down can learn to paint with her mouth and sell her paintings for millions, then I would really like to hear what is stopping you. Any setback can be overcome, you may need to adjust your approach now and again but if you want something bad enough, there is always a way.

People have overcome great odds, a couple I know personally I’d like to mention, Jamie McIntyre in debt and sleeping on a friends couch turned his kife around, he is now a millionaire helping others find financial freedom. Tony Christiansen lost his legs at nine after being run over by a train, he has climbed mountains and successfully run his own business now motivates others by telling his story.

There are so many examples of people overcoming such great odds to achieve things way above what any one would have expected of them. I’m sure you have felt, as I have at times, because of a tragedy or adversity that you just don’t want to get up in the morning or you wonder what is the point of everything we have to do. What makes people overcome such horrendous tragedies as many have and go on and live great lives? Whatever it is we all have it, it is in each of us, it is a gift we have been given and we must use it.

When we die our bodies may be gone but what we have done with our lives the people we have affected those things live on, make a choice to leave a positive legacy behind you. The more challenging your obstacle the greater your gift to the world can be. So please do not give up, do not make excuses, instead make a decision that you will find a way to overcome your burdens and turn them into victories. You may leave something great behind as Beethoven did or you may overcome a smaller challenge as simple as changing the way you think about yourself.

Not every one has huge obstacles in their way some may be much smaller but just as dangerous on your road to success. Maybe you don’t like to speak in public and as this is a requirement in your job you either avoid it or give a poor performance, resulting in being overlooked for promotion. You can make excuses and do nothing to change this fear and thereby remain stuck or you can do something about it. You could consider joining a public speaking group, you could also examine your reason for having such a fear, most likely carried forward from a childhood experience. Work at changing your attitude and approach, learn to laugh at yourself and develop some tactics to help you deal with or overcome your fear.

Whatever you do or whatever your goals they are the tools that will provide you with a rich and rewarding life. When your time comes to leave this world, as it must, leave it with a smile on your face knowing you gave it your all, that you truly did live.

Have an incredible day

Teresa and the Team at

AustraliaWealth.com.au

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Something to Think About

Saturday, December 26th, 2009

We are very close to the end of 2009 and as Jamie McIntyre, financial educator and success coach, has a habit of saying, ‘I want to give you something to think about’. What better time to go over the past year and assess how you are progressing toward your goals, what goals have been achieved and what improvements can be made.  Maybe you haven’t made any plans or goals yet, if not this time of year is an excellent opportunity to get started.

I have gathered a few questions together that you can ask yourself, answering these may help to sort out the things you want and how you can achieve them. See how many you can answer, but have a goal to answer them all soon. If you’re still under 25 you’re in a great place to consider what you want to achieve over the next few years or so and set up a plan.

I had no idea where I was going when I was 18, one day just followed another, I met my husband, at 21, and then my life followed his direction. I don’t regret it, I’ve had a great life but I know if I or we had considered some of the following questions when we were starting out, life could have been easier. In fact I believe it would have been a lot easier in many ways. Even if you’re over 25, if you haven’t already done so find your answers as well, it’s never too late.

Get a journal or notebook write out each question, add some more of your own if you want, and give yourself a page or two for your answers as they may change over time. Life doesn’t come with a ‘How To’ handbook, we all set out to do the best we can though, anything to make the journey a little easier is worth a bit of your time.

  1. What are my dreams?
  2. What do I want to achieve? (goals)
  3. What are my values?(see below)
  4. What strategies or methods will I use to achieve my goals? (further training, education etc;)
  5. How committed am I really?
  6. What type of lifestyle do I want?
  7. Where do I want to live?
  8. What do I really enjoy doing?
  9. Can I (do I want to) make an income from this?
  10. What do I really want to accomplish with my life?
  11. How much income will I need to make a month to meet my needs now and in the future?
  12. What is my purpose?

It may seem a lot to ask and answer but I encourage you to make an effort to do so anyway. One thing I learnt years ago was to take a good look at people 5, 10, 15, 20 years older than yourself, people just like you doing what you’re doing, in your field of work or family. If you’re heading in the same direction is it where you want to go? If not, then the above questions might help you find a better course for you.

Right now, the life you have is the only one you’ve got, do what you can to give yourself a chance for the best positive outcome.

Following is an extensive list of values, consider choosing 10 that may be important for you to live by, as you look through these values ask yourself,  what is important to you, what values would you like to live by or aspire to, write them down, remind yourself regularly, choose to live by them and you will achieve greatness and success in your life.

  • Abundance      Acceptance      Achievement       Adventure     Affection     Ambition      Appreciation     Assertiveness   Awe
  • Balance       Benevolence     Bliss    Bravery
  • Calmness   Care     Challenge     Charity      Cheerfulness      Cleanliness     Comfort       Commitment     Compassion      Completion      Consistency      Cooperation    Creativity      Credibility
  • Decisiveness         Dependability       Desire    Determination    Diligence        Direction      Discipline      Dreaming
  • Economy        Education       Efficiency       Empathy    Encouragement        Endurance      Enjoyment    Excellence     Expertise
  • Fairness      Faith     Family       Fidelity       Financial Independence Fitness      Flexibility  Freedom      Fun
  • Gallantry      Giving    Grace     Gratitude       Growth     Guidance
  • Happiness     Harmony     Health     Honesty   Honor    Humor
  • Imagination      Independence       Ingenuity       Inspiration     Integrity     Intelligence      Intimacy       Intuition       Investing
  • Joy     Justice
  • Kindness       Knowledge
  • Leadership       Learning      Liberty      Logic    Longevity     Love       Loyalty
  • Making a Difference          Maturity      Mellowness     Meticulousness     Modesty      Motivation
  • Neatness   Nerve
  • Open-mindedness        Optimism       Order     Outrageousness
  • Passion      Peace     Perceptiveness     Perseverance   Practicality     Preparedness         Presence  Privacy      Proactivity       Professionalism       Prosperity       Punctuality
  • Reasonableness    Recreation       Relaxation         Religiousness      Resilience      Respect        Rest     Restraint    Richness
  • Security       Self-control     Sensitivity      Sensuality       Serenity         Service     Sharing    Simplicity     Spirituality     Success
  • Teamwork        Thrift     Traditionalism       Tranquility      Transcendence      Trust    Trustworthiness
  • Understanding   Unity
  • Variety     Virtue   Vision     Vitality
  • Warmth     Wealth     Willingness     Wisdom      Wonder
  • Youthfulness
  • Zeal

‘You don’t get to choose how you’re going to die. Or when. You can only decide how you are going to live. Now.’ Joan Baez.

Have an amazing day

Teresa and the Team at

AustraliaWealth.com.au

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He’s a millionaire, how about you?

Saturday, December 19th, 2009

Jamie McIntyre, a self made millionaire, is the author of “What I Didn’t Learn in School but Wish I Had”, a guide to succeeding in the 21st Century. He believes that if you want to excel, lead a balanced and financially secure life, you need to learn strategies that are going to work in the 21st Century.

The old way of doing things just doesn’t do it any more.
But, what is the old way of doing things? That depends on when you grew up but for fo r me, I had it drummed into my head, ‘Go to school, study hard, get good grades, get a good job and you will be successful.

’ What did that mean exactly?

 That you could buy a house, put food on the table, holiday every year, drive a good car, send your kids to good schools, spend quality stress free time with your family, enjoy your job.
For some of us I’m sure all that might be true but for most of us, it just didn’t work out that way. Even those of us that got the good jobs, would have mostly had to sacrifice family or leisure time. The repercussions of that are far reaching.

Jamie walked a road in his young life that first lead to success and then to complete and utter failure. Broke, in debt and sleeping on a friends’ couch, Jamie eventually realized he had to take a good hard look at himself and what he had been doing and make some changes.

Jamie looked for ways to do things that worked in the society we live in now, he studied other successful people and the strategies they had in place that were working in the 21st Century. What he learnt has led him on a journey where he knows in order for him to be successful the best thing for him to do is help other people become successful also.

The result of Jamie’s research and studies provides information, training, seminars and home study programmes that guide and educate everyday people with skills and strategies needed to excel in today’s world. Information includes latest share market and property strategies that have so far assisted thousands of people to replace there regular time for money incomes. It teaches people the skills they need to develop profitable passive incomes from the huge potential available through internet businesses and marketing.

Jamie McIntyre is an inspiration of hope to many, up until recently he has focused on helping people get out of debt and redirecting their resources to become financially secure and productive individuals able to make positive contributions in society. Many people have joined him on his amazing journey he continues to grow and expand his academy with recent additions in the areas of goal setting, women’s seminars as well as health, spirituality and well-being.

Have a great day

Teresa and the Team at

AustraliaWealth.com.au

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Some General Information for Share Investors

Saturday, December 12th, 2009

If you are considering investing in the share market for the first time I am sure you have many questions, there is definately a lot to learn. This shouldn’t stop you getting started though as long as you take some time to learn what you can and get familiar with some of the key aspects, get some advice from experienced traders through books, dvd’s or courses and don’t invest all your available money in one stock or market. Here are a list of some frequently asked questions that may help…

Do you need to use a broker?

Yes you do, stockbrokers are the registered professionals who are licensed to buy and sell shares on the stock exchange. As professionals they are regulated both by the Australian Stock Exchange and the Australian Securities and Investments Commission. Brokers charge a fee for the service, the amount of which varies between brokers and also depends on the size and frequency of transactions. There are two types of brokers:-

  • Full Service Brokers – They usually provide clients with advice, research and a range of other services in exchange for the brokerage fee.
  • Discount Brokers – These brokers often have a flat fee for buying and selling shares, they do not offer advice or research.

If you’re not too sure what you’re doing a full service broker could well be worth the extra fees.

What is the difference between a ‘bear’ market and a ‘bull’ market?

A bull market is an overall upward movement in the value of stocks (an up-trend), it is an indication that prices and interest in the market is strong.

A bear market is a downward movement ( a downward-trend) where interest and prices in the market are falling.

The overall state of the Australian Stock Market since the the late 1800’s has been an up-trend even so the share market is by nature volatile prices rise and fall everyday. However it does indicate the liklihood of growth if you were to hold good quality (blue chip) shares over the long term.

Why does the sharemarket rise and fall?

The share market has it’s foundations in the economy but it is a market run on the fear and greed of investors. When the overall economy or an individual company is looking strong investor activity increases and the market goes up (bull) but if something should happen such as changes in interst rates or a business shake up that affects investor confidence the market will fall (bear). If you examine the economic cycle of the country you are investing in and compare it to historical data of the share market you may see a pattern emerge.

When is the best time to buy or sell?

This has to be your decision, it is your money invested and it will benefit you to have some knowledge in the particular strategy you are using, however it is also wise to listen to professional advice but make  the final decision your own based on the facts you have gathered. In saying that, it is always a good idea to buy when the market is in a downward-trend  and sell in an up-trend, however timing is critical and not easy to pick. If you are a long term investor then this is obviously not such an issue  however whatever type of investment stategy you use it’s good practice to have a plan in place, a margin that you use to mark your entry and exit points. 

Is listening to the media a good idea when buying or selling shares?

Definately not. Bad news sells and the media has a great time using terms such as ‘crash’, ‘plunge’ and ‘plummet’ when referring to the share market. Do your own research, talk to your broker and don’t get carried away with the marketing of the news.

Power Thought

I am persistent in all my endeavours.

Remind yourself of this often.

Have a great day

Teresa and the Team at

AustraliaWealth.com.au

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