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491 | The 3 Stages of Retirement & Why Most Don’t Think Beyond Stage 1?  – Chat with Jennifer Langton

By in Podcast, Property Investment

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“What you do with your home will have the biggest impact on your fees and charges and how your cash flow works in residential aged care.”  – Jennifer Langton  

Folks, there’s A LOT of considerations and work to be done to “get your ducks in order” before you retire. It can be overwhelming, from managing your pension to strategically positioning your home and investment properties.   

And it’s not just for elderly folks or those who are about to retire. Gen Xs, we’re talking to you too!   

To help guide you through Australia’s complex Aged Care system, we’ve got an exceptional, first-time property couch guest: Jennifer Langton!   

Jennifer is the Head of Personal Advice at Aged Care Steps and is an Educator, Financial Adviser, and Speaker who is an FAAA accredited Aged Care Specialist for Senior Aged Care and Retirement Living.   

Together, we unpack: 
✅ The 3 Major Phases of Retirement & why most people only think about Phase #1!  
✅ Why you want to avoid “Hospital Carpark Decisions” at ALL costs  
✅ Why You Don’t Want A Scottish Castle In Retirement!  
✅ How your home is assessed (Psst: It’s different between your aged care and aged pension!) 
✅ The intricacies between interest rates and pensions and the new incoming changes 
✅ Jen’s top tips and tricks for aged care and much more!   

 Tune in now to discover the answer to some of these age-old questions 😊   

 

Free Stuff Mentioned

  • 2024 TPC Survey Closing Soon! Let us know what we should start, stop and keep doing and as our thanks to you, we’ll give you a Case Study Series Unpacked for FREE (usually $297). Plus, the top #5 most insightful answers will win a $100 gift card. Share your thoughts now >>    

Timestamps

  • 0:00 – The 3 Stages of Retirement & Why Most Don’t Think Beyond Stage 1? 
  • 2:44 – 2024 Survey Closing Soon: Fill yours out & get our FREE Case Studies Unpacked Series!  
  • 5:02 – If you are a Gen X, you’re going to want to do this…  
  • 6:08 – Mindset Minute: Dream while you’re awake    
  • 9:53 – Welcome Jennifer Langton!  
  • 10:29 – We NEED to change these Aged Care myths  
  • 14:29 – Jen’s career from Flying to Financial Planning 
  • 16:50 – Her Traditional Money Backstory  
  • 19:04 – “Sit down and have that cup of tea”: The first big steps to financial literacy  
  • 21:30 – How Jen has always stayed in control of her finances  
  • 22:38 – The big transition away from a traditional upbringing 
  • 23:26 – The 3 Major Phases of Retirement  
  • 27:21 – The options available in Australia’s care system  
  • 32:03 – Who and what should you be considering when it comes to retirement?   
  • 33:54 – Application to approval codes: The Assessment Process  
  • 37:37 – The Scottish Castle: Why it matters WHERE you live 
  • 41:27 – “Your home is assessed differently for aged care and aged pension”  
  • 44:45 – Avoid ‘Hospital Carpark Conversations’ at all costs! 
  • 46:44 – THIS is where Financial Planners shine  
  • 48:12 – The messy middle of 1 investment property  
  • 50:27 – Option 1: Do Nothing?!  
  • 51:12 – Case Study: Beryl, aged 87  
  • 54:55 – The fine print: Refundable Accommodation Deposits (RAD) 
  • 58:06 – New changes coming out to interest rates and aged care?  
  • 1:01:55 – The wealthiest generation around the world    
  • 1:04:12 – Tips & traps of aged care 
  • 1:07:53 – The Granny Flat Catch  
  • 1:09:30 – Summary  
  • 1:10:23 – What options do you have for your home in retirement? 
  • 1:11:43 – Why we haven’t been talking about Superannuation 
  • 1:13:47 – Advice from one of the best in financial and aging care planning   

And… 

  • 1:16:04 – Thank you for turning on the lightbulb, Jennifer!  
  • 1:21:36 – Lifehack: Apple has added a game-changing feature for podcasts  
  • 1:23:40 – WMPN: Construction has hit new lows & the most expensive property on the planet?!  

 

465 | How This Family Can Afford their Year-Long Holiday While Building Their Portfolio

By in Case Study, Podcast, Property Investment

 

We’ve always said that property investing is a process not an event but…

How does one successfully match this process with ongoing family, life AND travel goals to achieve it all?!? 🏡🌟 

Folks, in today’s episode, we’re revealing how it’s possible through two real-life case studies!   

In our first case study, “Scratching the Itch”, we’re exploring how a young family who is looking to spend a memorable year travelling with their young ones can achieve this while continuing to work towards buying their forever home.  

 In the next case study, “Older Demographics Need Help Too!”, we chart the path that Linda, a 54-year-old Zookeeper can take to achieve her dream retirement without sacrificing her current lifestyle.  

We’ll be deep-diving into the problems and life-changing epiphanies each of these brave investors have had, along with the exact steps and plans we created to help each of them achieve it all.  

From the power of prioritisation to seeing what is possible, we’re highlighting the many advantages of seeking professional advice.  A seriously motivational and practical episode for all, give it a listen now!  

 

Free Stuff Mentioned

  • Scratch your itch! Make the invisible visible and understand your priorities by getting professional advice. Book a free no-obligation with our award-winning team here >> 
  • Sign up for PICA’s newest webinar with Nicola McDougall here >>   

 

Here’s some of the gold we cover… 

  • 0:00 – How This Family Can Afford their Year-Long Holiday While Building Their Portfolio   
  • 2:34 – PICA is having a new exciting webinar!  
  • 3:23 – REVEALED: Our newest Case Study Series launch! 
  • 5:53 – Giveaways 🤗   
  • 9:24 – Calling all potential Summer Series Guests! Share your story here… 
  • 11:44 – Mindset Minute: Never be so foolish as to believe… 
  • 17:35 – Case Study #1: Scratching the Itch 
  • 19:16 – The scary external AND internal problems they were facing… 
  • 23:18 – It’s always better to trade on paper folks!  
  • 26:35 – The Lifechanging Epiphanies + Plan 
  • 27:42 – THIS is how they took action!   
  • 34:47 – It’s all about understanding the trade-offs & priorities! 
  • 35:56 – The 2 Fundamental Levers  
  • 40:11 – The end result: The achievement + transformation 😊  
  • 44:24 – Case Study #2: Older demographics need help too! 
  • 45:58 – The fears this Zookeeper was facing…  
  • 49:49 – What drove her to act?  
  • 50:32 – The 3 very different solutions she was presented!  
  • 52:35 – One of the most important things to remember… 
  • 54:18 – Other factors we considered 😮  
  • 55:26 – The Winning Roadmap to Retirement! 
  • 57:35 – Let’s summarise…  
  • 59:20 – Folks, we’re so lucky (+ THIS is the best time to start)  
  • 1:00:37 – Scratch your itch. Have a conversation with our award-winning team >> 

And… 

  • 1:02:55 – Lifehack: How to finish ANY book!  
  • 1:04:07 – WMPN: Unexpected changes to vacancy rates and shifting markets…😮 

365 | Why Is investing So Confusing?

By in Podcast

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We don’t blame you if you find investing confusing… even Ben found it confusing when he started 30 years ago.

There are so many different asset classes to pick from, different procedures to follow, various biases to learn from and the worst of them all…

THE JARGON!

Short, Long, Dollar Cost Averaging, Coupon Rates, Day Trader and the list goes on.

 

So where would one even start?

 

Our answer is… This episode.

It’s back to the basics today folks and we’re not even focusing just on property! We’re covering most of the popular investments classes and procedures so think of this episode as… Investment 101.

Enjoy!

 

p.s. Does this episode sound familiar? Well, that’s because it’s a follow-up from Bryce’s Life Hack last week! 😉
(and if you didn’t know that make sure to tune in to Ep 364 – Will Property Price Keep Going Up! here. It’s a ripper!)

 

 

Free Stuff Mentioned

  • PICA’S WEBINAR on Estate Planning – To watch, you need to be a PICA Member (or become a member for $5)
  • 219 | How going from 30 properties to Bankruptcy shaped this riches to rags… and back again story! Chat with Julie Ann Cairns – Tune in Here
  • The Personal MBA by Josh Kaufman – Learn more here
  • The Cashflow Quadrant – Learn more here
  • RBA’s Address: Recent Trends in Inflation – Tune in to the speech here

  

Here’s some of the gold we cover…

  • 2:02 – PICA’s Upcoming Webinar on Estate Planning! Become a PICA Member here to join the webinar.
  • 2:54 – Psstt… Black Friday coming soon folks. Make sure you have your $5 ready! 😉
  • 3:51 – Mindset minute… What’s your status symbol?
  • 4:58 – WHY is investing so difficult?!
  • 7:38 – Ben’s early years as a clueless investor…
  • 9:08 – What are the underlying beliefs that you need to tackle head on first?
  • 10:30 – What is Bryce’s early mindset on the stock markets?
  • 12:24 – Risk is a M _ _ _ _ _ _ _ of K _ _ _ _ _ _ _ _
  • 13:14 – What’s the ONE absolute when it comes to wealth creation?
  • 15:11 – Understanding The Cash Flow Quadrant
  • 16:17 – Non-financial assets that you can (and should) invest on!!
  • 18:45 – How to Implement an MBA on Yourself?
  • 22:40 – What’s the real challenge for millennials when it comes to investment research?
  • 25:40 – Shares 101!!
  • 27:17 – Property will NEVER EVER deliver you THIS… but shares can.
  • 30:21 – What’s our overarching thesis and do you have one?
  • 38:04 – Other types of investment products that you should know about…
  • 39:26 – What are the Different Types of Investment Procedures? (Unpacking Jargon Alert here folks!)
  • 40:54 – When to go long and short in investments?
  • 48:37 – The 6 categories of Investors… Which one are you?
  • 51:47 – Do you recognise these biases?
  • 1:00:25 – Confused? That’s ok, it all comes down to this…

And…

  • 1:03:37 – Life Hack: See your brain through the eyes of a Super Computer!
  • 1:04:41 – Dr Philip Lowe’s Speech on Recent Inflation Trend
  • 1:06:27 – Property Market’s Supply Movement!!
  • 1:08:10 – This couple paid $75k deposit but didn’t end up with the property?! #UnAustralian

 

 

 

 

 

 

364 | Will Property Prices Keep Going Up? – Q&A on Off the Plan Properties, Future of Crypto, Career in Finance/Real Estate and more!

By in Podcast, Q&A

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Let’s face it…

If you’re looking to get into the market, you’d want to property market to slow down.
If you’re already in the market, you might be hoping for this trend to continue.

 

Whichever side of the coin you are in, you’d be asking the same questions…

When will this end…?

Will median price go up to $5M in the next 20 years?!

How is this even possible… what’s driving it??

 

Yup, we know it can be unbelievable so we will be tackling this head-on in our Q&A Episode today (It’s the 1st question in fact and Ben got quite heated up too)

That and also a few other things such as off the plans, crypto and property, why would you sell, formal qualifications for property professionals and heaps more!

It’s a Q&A Episode after all 😉

Enjoy!

P.s. Make sure to tune in to Ben’s ‘controversial’ market prediction at the end!

 

Q’s we answer further below 👇

 

 

Free Stuff Mentioned

  

The Questions We Answer

Question from Shannon about Will Properties Keep Going Up?

Hi guys, Firstly I have to say I’m a big fan of the podcast and your book, The Armchair Guide to Property Investing.

I have gotten a lot of value out of your podcast and feel like I am much more confident picking the right type of investment property and avoiding investment stock type properties.

I wanted to ask a question about your book.

You outlined some quite interesting case studies for different types of investors. I fit into the category of a rentvestor myself. I noticed the portfolio plan is made up of 3 properties and over a 40 year period the portfolio grows in size from around 1.2 million to 9 million over the 40 year period.

I was wondering if you can comment on why you think its safe or reasonable to assume that the property market will 8x over the next 40 years because that would suggest each property is worth nearly 3 million dollars which is something I struggle to think is reasonable to assume, given that property prices relative to income currently are at the highest ratios historically.

I can understand how property prices have grown to be so high given we have most households supported by two incomes instead of one and interest rates are at historic lows but I have doubts about whether this is sustainable to continue.

I wanted to get your advice on how things look over the next 20-30 years before I jump in and if you can comment on your reasoning for the above that would be appreciated!

Thanks for all the great content!

Recommended episodes for Shannon

 

 

Question from Coban about When will Off the Plan be considered ok?

Hi fellas great show.

Hey Bryce and Ben, I’m a new listener – currently at episode 100 so if you answer this ill hear about in in 2022! . I have read both your books and in the pervious 18 months my partner(21) and I(25) have implemented your Money smarts to secure an investment property, Small shares portfolio and plan for a wedding and putting my partner through university. I recommend 1 person a week listens to your podcasts as it has changed the way I look at financial freedom.

After 100 episodes, my question for you is simple. Is there a place within your go to strategies where an off the plan purchase would be considered? The reason I ask is because I see a lot of spite towards them (understandably in high/med density living) however I believe that they can provide needed cashflow boosts for short term prosperity. I will use my situation as an example.

I’m a sailor in the Royal Australian Navy and my partner is looking to study paramedicine starting next year, based in Sydney. We have a combined $2000 a month in surplus at the moment with a combined salary of $130k. We managed to leverage ourselves into a $515k off the plan townhouse in Nowra, NSW with an estimated growth of 5% and a rental yield of 5.3% with minimal savings and taking use of the FHOG and First Home Buyer Assistance Scheme (FHBAS). Admittedly we have structured ourselves to have a loan at 101% LVR  but buying an off the plan property allowed us to hold the property thanks to depreciation and the FHOG whilst my partner goes to uni with no income for the next 3 years (my income will remain $86,000 after tax).

We had to lose out on some land size to achieve this but noted that the property was in a great location with a high turnover in terms its demographic change (was previously government housing area- now sold off) I understand everyone is different and that is the beauty of financial planning and investment advising, but for people starting of in property, can off the plan properties outside of high/med density living provide a lower entry point to everyday people?

I’m very passionate about seeing people use their money to benefit their future rather then the present, so I’d also ask, do you have any entry level jobs going?!

I have been in the navy since 17 and we don’t get many qualifications, so what recommendations for study paths would you have for someone aspiring to help people reach their financial goals?

Additionally, in a defence force space we have a lot of spruiker who I notice take advantage of our benefits such as FHBAS, FHOG, The Defence Home Ownership Assistance Scheme (DHOAS), Home Purchase Assistance Scheme (HPAS) and Home Purchase or Sales Expenses Allowance (HPSEA) to put young defence members in house and land as well as high/med density living.  Maybe you could provide an episode for the 26,000 + active servicemen and women to discuss the pro’s and con’s of these structures?

Best of Luck to the Hawks in 2022 – the 4peat will return in 2022 under Sammy Mitchell!

Ohh and best of luck to you guys too. 

Recommended episodes for Coban

 

 

Question from Juan about Technology for Money & Property Management

Hi Ben,

I just came up with these questions.

I hope they can help you with your podcast:

  1. Is there any particular technology (app, website or any other) that can help us better track our money management?
  2. Is cryptocurrency change (or going to change) the way we may invest in properties? And if so, how?
  3. According to your experience, when is the best time (or age) to start thinking about property investment?

By the way, I just started listening to the exodus to the region’s episode and I really enjoyed the insights of Dr Nicola Powell.Keep up the good work.

Recommended episodes for Juan:

 

 

Question from Stephen about Why Sell?

With several investment properties returning healthy margins & interest rates being as low as they are … Incentives to hold out property sales for greater returns (given interest rates are not deemed to rise for another 12 months ).

General question is >>> Why sell now if asset capital is rising??

Recommended episodes for Stephen:

 

 

 

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