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414 | How This Couple Is Smashing Procrastination & Retiring Early

One of the biggest derailers for any investor is…

Procrastination. 😱 

So how can you avoid falling into this trap?!   

Folks this week we’re back with another super-exciting, real Case Study about Annabelle & Jamie (Pstt – These are fake names!).  

A couple in their late 30s, they’ve spent the past 5 years procrastinating their life’s dream of building a property portfolio and moving from the bustling city of Sydney to the laidback coast of Byron Bay Hinterland. 

Overwhelmed with the number of options and their lack of knowledge, sadly, they believed that this dream has passed them by. 🙁 

Tune in now to discover the sequencing that Annabelle & Jamie can take to still make this dream a reality, and the frameworks and property plan that’ll stop them from falling into the procrastination trap (or from making more costly mistakes) ever again!  

A crazy-but-true episode that highlights the power of planning, taking action and smashing procrastination!

Listen now to see how this couple can achieve all of this while setting themselves up for a $120K passive income AND an early retirement!  

 

P.S. Keen to find out how you can build your optimal property portfolio too??  
Book a free, noobligation consultation with our award-winning team of Property Investment Advisors here (and avoid falling into the procrastination trap!)  

 

 

Free Stuff Mentioned… 

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – The gold today! 
  • 1:51 – Next we’ll be seeing a mini-budget… 
  • 3:38 – Have you got a compelling story? Share it with us in our 2022/23 Summer Series! 
  • 5:36 – A lot of financial debates are actually just people with different T_m_ H_ri_o_s!  
  • 8:56  Today’s Case Study: Annabelle & Jamie 
  • 11:51 – Why this isn’t a “money map” it’s a LIFE map folks!  
  • 12:59 They decided to get help because… 
  • 15:15 – These are the problems we’re trying to solve!  
  • 16:41 – Folks, time horizons are key!!  
  • 17:57 – Why a plan is important for time-poor professionals! 
  • 19:50 – Why we’ve taken a conservative approach!!  
  • 21:29 – The Big-Ticket Items  
  • 22:08 – This is why it’s CRITICAL to get your sequencing in order!!  
  • 22:41 – Their Low LVR and High Incomes are allowing them to… 
  • 24:01 – The First Asset: Trading out of the Big City to the Country
  • 26:30 – Why we don’t model over 7.5%!  
  • 27:44 – If you’re buying period homes, make sure you have this… 
  • 28:58 – …And this is why we didn’t recommend an asset further out!  
  • 30:49 – One Year Later: An Accelerator Asset (Why is it optional?!?)  
  • 34:15 – Expanding the family & smelling the roses!
  • 36:50 – How they’re retiring 9 years before they get super!  
  • 38:40 – The Hidden Derailer For MANY Investors!! 
  • 40:20 – The real value you get when you have a plan!  
  • 44:42 – This is why they’re a LUCKY couple… 
  • 46:50 – We always think it’ll be different THIS time folks…. 
  • 49:43 – What defence do they have?!  
  • 50:57 – During accumulation phase, this is actually your biggest asset!  
  • 52:40 – The Golden Frameworks  
  • 54:25 – The Outcome Of This Plan (aka. The benefits they’ll be reaping!)  

And… 

  • 57:45 – This is why you should always leave a buffer!  
  • 1:01:04 – An announcement for our Moorr Users!  
  • 1:01:46 – Auction Clearance Rates: Good news on the horizon?? 
  • 1:04:03 – Why we need to stop spending folks… 
  • 1:04:57 – Today’s Buffer Rate = Mortgage Prison!  

 

401 | How Old is Too Old?! Refinancing, Retiring Debt & Starting Later in Life

We recently hosted our first webinar in nearly 2 years and — WOW what a time! With nearly 1.4K attendees, we shared tons of investing gold and received so many fantastic questions that we couldn’t NOT turn them into a Q&A session today 😉

That’s why today we’re answering one of the most common Qs we received:

 

How old is TOO old to start investing?!?”  

 

Like…how do Offset, Interest-Only & Principal Interest Only accounts work (in practical terms) to help you retire your debt? What are the fundamentals of Amortisation (we promise it’s not as scary as it sounds) and when are you too old to refinance a loan??  

We’re answering how you can use all of this to best position yourself for retirement, plus…

For single parents, Ben provides his #1 piece of advice to for building wealth into your retirement and we dive into diversification and buying the same suburb.  

So much to unpack, digest, and replay time and time again. Start streaming now for some evergreen content folks!!  

 

Questions We Answer…

Q1) Vaughan Nicholson on A question regarding retiring debt: 

I understand how filling up your offset account for your PPOR saves you a lot of interest and once offset is full you are only paying principal. 

The plan is then to increase money in offset account linked to investment property (IO loan) – I get that when that offset account is full then you are paying no interest on the loan. 

But what does that actually mean practically for an IO loan? Wouldn’t the bank still require the minimum repayment per month, irrespective of how much is in offset? Once you’ve filled your offsets, do you ever actually pay off the loan? Do you then switch to P&I as you’d be paying no interest? 

Thanks 

Q2) Stewart Cameron on Oldest age to reset to a 30 year loan 

[I’m] interested to know what the oldest age is that you can re finance to a 30-year loan? Assuming there is an age you hit where you can’t physically pay back the remaining debt…
If you’re in your 40’s will they still extend it out that long? 

Q3) Linoy John on Buying two properties in the same suburb 

Hi Bryce,
This question is for you as you were from Leeming. I have 2 properties in Willetton – 1PPOR & 1IP. Have I made a bad choice in purchasing a second time in the same suburb?
 

Q4) Stephen Moore on Investing for Single Parents 

At 47, renting and an income of 120000. Is it possible to be in the game to create wealth for a retirement? I don’t own a principal place but have savings of 180k.
Cheers, single dad 

 Some Listener Encouragement  

Hi Ben and Bryce.
My name is Arron, I was the one who purchased a Brunswick apartment in 2014, and contacted you with questions, then my story became Property Couch’s very first case study, in Episode 15!

I thank you both for the wisdom that you teach. 8 years on, I am still your regular listener, and I am still holding on that Brunswick apartment for cash flow. Although I have added one more townhouse into my portfolio 5 years ago.

 

Free Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 0:00 – A snapshot of this week’s episode  
  • 1:58- If you’re new here, listen to this!!!  
  • 4:12 – How can you make your life matter? (Bryce’s Epiphany!)  
  • 9:34 – Q1) A question regarding retiring debt 
  • 10:26 – Amortisation: Let’s Break Down This Scary Word  
  • 13:30 – So, how often is interest calculated???  
  • 14:41 – Simple vs. Compounding Interest: How you can pay off your loan quicker!  
  • 16:30 – A Practical Guide to Offsets, Interest-Only & Principal Interest Only! 
  • 18:30 – When you would or wouldn’t use your offset to pay off your loan… 
  • 20:50 – Let’s Summarise!  
  • 21:54 – How can you place yourself in the best position for retirement?  
  • 23:59 – The Backstory to Q2 (Paying more interest…could actually be a good thing?!?)  
  • 26:59 – Q2) Oldest age to reset to a 30-year loan 
  • 27:23 – THIS is when you should be worried!! 
  • 28:04 – How lenders typically analyse older refinancing loans…  
  • 29:47 – Use this 1 thing to manage this minefield folks!
  • 31:10 – Our Answer: How old is too old to start investing??  
  • 32:26 – Q3) Buying two properties in the same suburb 
  • 33:04 – Let’s assess her Asset Selection 
  • 34:07 – How can you work in Diversification??  
  • 35:51 – Has she made a bad choice by buying in the same suburb?  
  • 36:53 – Refresher Class: The Fundamentals of Asset Selection!  
  • 38:59 – Q4) Investing for Single Parents 
  • 40:09 – Ben’s #1 Recommendation 
  • 43:37 – Why it’s so important to seek professional advice!  
  • 44:50 – Listener Encouragement: Arron – from our very first Case Study – is back!  

And… 

  • 45:45 – Why do we promote buying established properties? (This is a REAL message we received) 
  • 49:50 – Anxious about rising interest rates? Tune in here for a deep dive into the 2021 Census Data to allay those fears!  
  • 56:05 – Folks, remember these are actually amazing times for investors!!  
  • 57:14 – Mortgage Jail: Why is it happening?
  • 59:18 – Our Key Message for investing in today’s environment!  

 

398 | From Financial Anorexia to Financial Peace of Mind – Chat with Jack

“I wouldn’t be going on holidays, I wouldn’t be going on those trips or just those little things, I guess the little voice in the back of my head going, “Oh, you sure you can afford that?”  

Folks, today’s guest has been through a remarkable journey.  He’s transformed from a state of Financial Anorexia to achieving Financial Peace of Mind – but his tale doesn’t begin as you might think.

Jack didn’t grow up scrounging for pennies for the bus or living under a tight budget. Instead, he grew up in a hard-working, small business household where he was already jumping on to help with work at the age of 14!  Basically, Jack knew the value of money and had a strong work ethic from very early on. 

So…how did he become Financially Anorexic?! 

And what did he do to get himself out of the paralysis?!

That’s just some of the amazing chapters in Jack’s story – just wait till his now-wife, Hannah enters the scene and Jack has to create new Money Norms as a couple!!  

It’s a truly motivational tale about taking control of one’s life and facing one’s fears through planning. Thank you for sharing your story with us Jack, it’s a true testament to the power of taking action. 

Such an uplifting story – tune in now folks.  

 

P.S There’s also a sneaky story about Bryce getting sacked from a job – tune in to find out why 😉   

P.P.S. After weeks of prep, we hosted our BIGGEST webinar to date last night. Yep, we covered How to build a multimillion-dollar property portfolio in a rising interest environment and boy was it a hit! Missed out? You can still watch the replay (for a very LIMITED time only)…click here to watch it now 

 

Free Stuff Mentioned… 

Here’s some of the gold we cover… 

  • 0:57 – Did you miss our BIGGEST webinar ever on how to build a multimillion-dollar property portfolio in a rising interest environment?! You can catch our LIMITED TIME replay here…don’t miss out again!
  • 1:56 – Meet Jack! 
  • 3:31 – Money conversations from a small business household with 4 kids… 
  • 6:20 – How he developed a strong work ethic from 14 years old! 
  • 7:33 – The job Bryce got sacked from 😮  
  • 9:08 – Yep. When Jack turned 18 he bought a …. 
  • 9:52 – His Gap Year  
  • 12:18 – When following in your brothers’ footsteps is a good thing! 
  • 14:11 – What Jack’s first investment property was like!!  
  • 16:18 – If he was doing alright…then why did he get a plan?!?  
  • 17:50 – Having a plan forced him to face THIS question…. 
  • 18:35 – The Symptoms of Financial Anorexia  
  • 21:18 – How it manifested for this couple…(Be warned folks!!) 
  • 22:02 – How Jack faced his fears and got out of paralysis! 
  • 23:10 – What is Financial Anorexia?  
  • 25:27 – His FIRST financial plan  
  • 26:30 – “It was literally like taking the shackles off my wrists…”  
  • 27:27 – Why numbers are SO important (especially for passing… the sleep test?!) 
  • 31:06 – Folks, M_N_ _I_NG your plan is just as critical!  
  • 32:32 – Enter…Hannah!  
  • 34:20 – How they optimised their “Big Rocks in the Jar”!  
  • 36:00 – Buying their first investment property together!!  
  • 39:38 -How did they set new Money Norms in a relationship? 
  • 41:05 – Why couples NEED money conversations!! 
  • 45:24 – Listen to THIS for some timeless wisdom 
  • 47:16 – Let’s deep dive into their Property Plan… 
  • 50:04 – Jack sneaks this one in… 
  • 50:43 – Our top takeaways!  
  • 54:30 – It’s all about building confidence folks!  

 

 

 

 

 

397 | “I Thought Investing was for Rich People” – How Knowledge Unlocked his Financial Freedom – Chat with Anthony

“I thought investing was for RICH people, and that’s just what it was. It was something a normal person didn’t do, and now our eyes are open – the possibilities are endless really.”  

 

Growing up in a household with a tight budget and parents working double jobs to feed a family of seven, our second Winter Series guest didn’t have a lot of money conversations around the table… 

In fact, there was none. 

Born and bred in Dublin, Anthony graduated into a culture where holidays were funded by loans and you spent everything you had, every week….even when he was working 3 jobs. 😱 

And he might’ve kept going down this path if not for his significant other – Carly -who thankfully bought him his first investing book, The Barefoot Investor, at age 27.  

Over the next decade Anthony has turned it all around, transforming from super spendthrifter to seasoned property investor and renovator.  

Find out how he made the jump, the practical lessons and behavioural management skills he’s learned along the way and how he’s “paper trading” his way towards investing success. 

Such an empowering tale folks, listen now for a big dose of motivation. 👊 

 

P.S. The countdown is on! Less than ONE WEEK until our webinar where we’re sharing the #3 biggest secrets being investing success. We’ve still got some spots left so make sure you register now to save yourself one!  

 

 

Free Stuff Mentioned… 

  

Here’s some of the gold we cover… 

  • 1:01 – The Countdown is On – Next week is our webinar folks!
  • 1:55 – Meet Anthony: Growing up with both parents working double jobs…
  • 5:25 – “I spent everything I had, every week”
  • 7:20 – Being raised in 2000s Dublin: The GFC & his journey to Australia
  • 11:38 – How did he get into investing at age 27?
  • 12:52 – His road to The Property Couch and property investing!
  • 14:40 – What did Anthony choose property?
  • 15:40 – Managing debt + rising interest rates: how does he stay calm?
  • 18:28 – How a plan is helping couple in 2 very different ways
  • 19:45 – A wedding, another investment property and renovating: How are they achieving it all?
  • 22:45 – How are they building buffers into their portfolio?
  • 25:26 – Having different risk profiles: what conversations are this couple having?
  • 26:51 – What benefits does the plan bring for Carly + Anthony?
  • 31:15 – Moving from FIFO to Family focused: how has it been worked into their roadmap?
  • 33:05 – Why Anthony is “paper trading” his life…
  • 34:40 – The Thought Process behind Staying vs. Upgrading their Property
  • 38:30 – Why this couple feels like they’ve already made it!
  • 42:30 – WHY they created a plan!
  • 43:54 – Anthony has locked down this ONE point which is leading him to success…
  • 44:30 – What would life be like for him without a plan?
  • 47:23 – Our Key Takeaways!
  • 48:48 – How many properties do they need?!

 

 

 

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