It turns out a bag of M&Ms has the power to build a passive income…

Sure, there’s a few more steps to get from “A bag of M&Ms” to “A passive income”… but you can bet on the fact that it does NOT take away from today’s epic story line!

And it’s one heck of an epic storyline that involves not JUST a packet of chocolates… but also 50 cents… a half-year-long sabbatical and… wait for it…. a property portfolio consisting of only TWO INVESTMENT PROPERTIES that will deliver $120,000 passive income in retirement!!!

Spoiler alert: today’s guest Keno Diamante is about to tell you exactly why planning ahead WILL change the game for you! And why is he in a position to share this story?? Well folks, he’s walking proof of it!

Another ripper episode in our Summer Series that can’t be missed. Hear it straight from the mouths of the folks who’ve gone and put their knowledge into action!

Before we get to the awesome chat with Keno today, here’s a quick message to all Queensland Property Owners. The Queensland Government has proposed changes to the rental tenancy legislation and you only have until 5pm, Saturday 28 December 2019 to have a say. So it’s imperative to act now and ensure property investors are heard on an issue that will affect your financial security. To help you make your submission below are the guide from PICA or you can also click here for a step-by-step instructions. You can also cut and paste the information below or make amendments as you see fit:

• Click on this link here to open your word submission document. Give it a name- ie “John Smith’s submission form” and add your name to the bottom of the submission. Save it in your computer.
• Click on this link https://www.yoursayhpw.engagementhq.com/give-feedback-renting-in-qld/survey_tools/written-submissions-renting-in-qld
• You’ll need to create an account for the submission. Click on “Register”
• Fill in the Registration form and click “Register”.
• Next is to activate your account. Log in to your email and click on the link provided.
• You’ll be redirected to a confirmation page. Click on “Continue”
• You’ll start to see a series of fields. If you’d like a sample from PICA’s submission, please click here to download the sample.
• On Question 15, click on “Choose file…” and look for the submission form that you’ve saved on your computer. Click on “Open” and that will attach the file.
• Click on “Submit”

Your Free Resources

• Episode 157 | 7 Reasons Why Investors Should Think Like Ants
• FREE BOOK (Physical copy) – The Armchair Guide to Property Investing
• FREE BOOK (PDF version) – Make Money Simple Again
• TPC Binge Guide – The Best Bits From The First Twenty Episodes

The Gold Covered in This Episode…

• The Most Important Bag of M&Ms Ever: A True Story of Delayed Gratification
• How is having 3 kids considered conservative and risk adverse?
• Why can two properties be enough to achieve a passive income?
• What money systems were Keno and Michelle they using before Money SMARTS?
• How do you organise surprise gifts if you’re sharing a 7 Day Float with your partner?
• If you aren’t comfortable with numbers, what advice can you get?
• How can you afford a wedding AND six months off work?
• What retirement age are we looking at here?
• Building a Passive Income in your thirties…

Quote of The Episode

“Imperfect action beats perfect inaction.”

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“80% of winning is beginning”

 When Gabby first invested in property, she lost her nerve and pulled the pin early … she sold everything. And a very big reason she got rid of the lot was simple and actually pretty common — she didn’t have enough confidence that she could “weather the storms” accordingly.

But then she found Money SMARTS, our simple 7-step money management system… and now Gabby’s life — as well as that of her husband and their 11 and 13 year-old kids — looks a WHOLE lot different!! For one, they have financial peace… and, armed with a strategic Plan to earn a passive income for life, they’re about to embark on investing again… this time with confidence they’ll be able to hold onto the properties for the LONG TERM.

The question is… what did this transformation look (and feel) like???

Well, tune in folks because that’s exactly what you’re about to find out!! Yep. We started our Summer Series with James Clear teaching us How To Hack Your Habits To Make You A Better Money Manager … and now you’re about to hear it from someone who went ahead and actioned it!

AND a Special Announcement to fellow Investors out there…

As Ben mentioned, if you own an investment property in Victoria, the proposed changes to the Victorian Rental Tenancy Act will impact you, so it’s important that you act now. Given the significant changes to the Act, your property could be impacted in terms of:
1. It’s future Value
2. How you manage the property going forward
3. Your tenant selection process

The Property Investors Council of Australia (PICA) is asking you to make a personal submission to the Victorian Government regarding this legislation. You only have until 5pm on Wednesday 18 December 2019 to have your say on the draft regulations. You must act now to ensure property investors are heard.

To help you make your submission please follow the instructions below:

1. Click on this link here to open your word submission document. Give it a name- ie “John Smith’s submission form” and add your name to the bottom of the submission (in the highlighted red section). Save it in your computer.
2. Click on this link https://engage.vic.gov.au/rentingregulations and scroll to the bottom of the page
3. In the “Make a submission” section, enter your name and email, leave the section titled ‘organisation name’ blank. This ensures the submission is entered as a private individual and not part of PICA as we have already submitted one.
4. Click on “Choose file…” and look for the submission form that you’ve saved on your computer. Click on “Open” and that will attach the file.
5. Click on “Submit”

Free Resources Mentioned:

• FREE BOOK!— The Armchair Guide to Property Investing
• FREE BOOK!— Make Money Simple Again
• Episode 149 | Money Tips to Survive this Christmas

The Episode Breakdown

05:20 – Gabby’s Money Backstory! (You can hear what money was like in our own lives here)
12:55 – When did Gabby decide to get serious with money?
18:16 – What was it like to see Money SMARTS visually?
19:21 – How transformative is an offset account?
22:31 – What “provisions” are being tracked?
24:10 – How long is the monthly check up?
25:20 – How has Money SMARTS impacted the way Gabby buys groceries?
26:44 – Who had the most difficulty getting used to the 7Day Float?
28:00 – Money Lessons for Kids: talking money around the dinner table
28:20 – How is their money working harder now?
32:20 – What app does Gabby use to help her manage the 7 Day Float?
33:20 – Why advice?
40:10 – Gabby’s advice for you….

Keen to Get Started with Money SMARTS like Gabby?

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