Posts Tagged ‘Jamie McIntyre’

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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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Be All You Can Be

Saturday, March 13th, 2010

We are always talking about wealth creation and securing our financial future but is there more we could do?

There will always be someone who’s needs are greater than our own and when any one of us is in a position of wealth than giving back becomes a responsibility. Australians are great givers, donations have poured in for aid relief to those devastated by any kind of disaster or tradgedy from all across the nation but I am talking about more than that. I am suggesting more than just donating to charity. I am talking about being all you can be.

Have you ever entertained the idea of creating a charity, a homeless shelter or a foundation for health research. The opportunities and possibilities are endless, one wealthy Australian property investor I have reaseached recently created a home for troubled teens unable to continue living with their parents.

Another wealthy Australian Jamie McIntyre was an average kid that grew up on a farm in the country he is now a gifted educator. Jamie travels the country teaching other Australians how to create wealth and then to give some of it back. Being all you can be is about digging deep into your soul, it’s about doing what you need to do in order to succeed, it’s about taking that success one step further and creating an amazing legacy to leave behind.

It is true that we can all make a difference and even making a small difference should not be underestimated, there will always be a ripple effect. But just imagine for a while that you could make a big difference. What would it be? What is it that moves you? In what way will you be all you can be?

Have a grateful day

Teresa and the Team at

AustraliaWealth.com.au

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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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