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Free Spreadsheet: Kids Savings Tracking Calculator

Thank you for your interest in the Kids Savings Tracking Calculator!

This simple calculator was mentioned in Episode 116 where Bryce & Ben discuss guarantor loans + more, as well as Episode 495 where we answer a listener’s question about whether she should put her daughter’s money into an offset account (so that it won’t incur tax) or leave it in her daughter’s own account.

Use this calculator to track contributions, withdrawals and projected cashflow, as well as start the discussion on why it’s important to have financial conversations with your kids.

Just fill in the form below and we’ll send the FREE spreadsheet to your nominated email.

P.S. Once you’ve filled in your details, an email confirming your request will be sent to your nominated email address within the next 5 minutes. Make sure to check your Junk and Promotion folders as well, in case the email gets caught in a filter.






 

485 | Must the Plane Have Landed BEFORE I Retire?

 

Is 64 too old to be starting a property portfolio?  

Must your investment property be fully funded by the time one retires?  

And why does investing with intention matter – even after you’ve acquired 5 properties?  

In today’s Q&A we’re answering these fantastic questions that explore the many layers folks should consider BEFORE they choose to enter or exit the property game.  

This episode highlights the importance of planning and intention, from calculating how much you really need (and gaining clarity around your next step) to why you shouldn’t invest in property like stepping stones. 

Plus, we have a Listener Tale (or horror story) highlighting why property management matters. Listen now! 

 

Free Stuff Mentioned

  • Moorr Webinar: Best Tools for the Job – What to Use When?
    7:30pm AEDT, 19 March
    Within Moorr, our money management platform, there are currently over 25 features and tools, providing more than 100 different insights! In our webinar we’ll guide you on the best tools for the job and reveal how all your data comes together to give you meaningful insights through our “track your progress” approach to money management. Find out more or reserve your spot >>  
  • Corelogic’s Women in Property Report just released! Read it now >>  
  • Leave us a Q or share your story with the TPC community!
    Leave us a Q for our next Q&A Day (and we’ll give you a free Start & Build course!) or share your property journey and be in our next Winter Series.  Send us a voice message now >>   

 

Questions We Answer

Q1) How important is it that an investment property is fully funded by the time you retire? from Richard  

Hi Ben and Bryce, Richard here.

I just wanna start by thanking you both for everything that you do for the community. It’s real eye opener and it helps me to get my head in the right spaces.

I look towards everyone my house fully paid off and looking to start my 1st investment, but my question is, I’m 52 just about paying my own property out.

How important is it that an investment property is fully funded by the time you retire, or is it okay if it’s just looking after itself and can continue on for another few years, whilst your in retirement and fund itself in the background, if you can give us any help on that, that would be great.

Thank you.

 

Q2) Investing at 64 from Ralph 

Hi, I just wanna know if I can build a property portfolio at the age of 64. Thank you. 

 

Q3) Multiple IP’s already and wondering what to do next? from Matt   

Hi guys, it’s Matt here. 

I live down in Torquay, VIC. We have a number of investment properties: 2 in Queensland, 3 Victoria and we own our home. 

We own most of our investment properties. There is still a little bit of debt there. 

Basically, just looking for a financial plan or some advice as to what to do to move forward. I plan to step away from our business within the next five years and just see whether we can somehow live off the equity. 

I basically just want a plan and just maybe get you guys to have a look at our overall situation and offer some advice, and look forward to hear back from you. Bye. 

 

Listener Tale: The Importance of Property Management 

Hey Ben and Bryce, 

Just wanted to reach out and say Ep. 480[How to Fail to Retire on $2k per week] 

Guys! This is phe . nom . enal ! I can relate to some if not all of the “how to fail to build” points you raised here. 

My true story goes a little something like this:  

I bought my first house and land package as a PPR just before the GFC hit and after living in it for a year, rented it out because I went off traveling the world in my mid 20s for the next 8/9 years. After the real estate agency secured what I thought was a good tenant, I gave them the flick and managed the property privately. Thought it was a great idea to save a few dollars on fee’s right. Those same tenants moved out 5 years later and I had to replace all the carpets, repaint the walls and replace some fans the kids had swung off of. Needless to say, the bond certainly didn’t cover this. I kept the bond and offered the tenants to pay the rest of the bill. Obviously, I heard crickets from them so had to pay the rest out of my own pocket. I had landlords insurance but this is a worst case insurance for me and I never use it to claim small things. Its just for the “what if the house burns down”. 

You’d think I’d learn right? Wrong. I went and got another tenant, funny enough it was the family next door and they were moving out of that house because it was up for sale. I saw an opportunity to save of management fees again and 2 weeks rent the real estate would have charged for finding a new tenant. The new family moved in under a private agreement. Sweet as right? Nope.. after trying to manage this house from a yacht somewhere in the Bahamas (which I worked on btw not owned) I found out while doing my own tax return one year that they had under paid me rent. I had to send them emails and show them spread sheets from a far of how much they were behind and it was more than 5 grand. I thought enough was enough and got a property manager to helped sort them out and they did pay me what I was owed and all was fine. 

But do you know what the kicker is, well it’s not keeping up with what the rental market is doing. I.e. rents around my house had gone up and considerably, but because I was managing this house myself from a far I didn’t have the finger on the pulse. After all of this learning, let me tell you fella’s.. I have now learnt! I maintained a property manager for this house from then on. 

That lesson had taught me about property management and it’s importance. What it didn’t teach was having the right strategy in place, and so I sold that house at roughly the 10 year mark (insert palm in face emoji). 

I can whole heartly say that the net of the money I 

saved in management fee’s over the years was surely a net negative and as you can see to top it off I sold the property and paid commission to do so. I can’t bring myself to check the growth of that suburb and what the house would be worth now or event to check what it’s rental yield would be. For context I sold it in 2022. 

Final point I’ll make on this and for people who may read this, I wish I got accredited professional help because my future self would have thanked me for it. My wife and I have now got that help through Empower Wealth and we are on a path of retribution. 

I am a dedicated listener to your podcast. Keep up the great work! 

You guys are my Joe Rogen! 

Cheers Trev. 

 

Timestamps

  • 0:00 – Must the Plane Have Landed BEFORE I Retire? 
  • 1:39 – The lengths we go through, Moorr webinar & a listener message!  
  • 7:29 – Mindset Minute: Rich vs Poor Mindset 
  • 12:17 – Q1) How important is it that an investment property is fully funded by the time you retire? 
  • 14:13 – If you wait, you rob yourself of the power of…  
  • 15:47 – We need to understand THIS before we start 
  • 18:05 – What your investment property should look like in retirement  
  • 19:34 – Why property investing isn’t like stepping stones  
  • 21:29 – “Strategy has to be informed by cashflow 
  • 23:53 – Q2) Investing at 64 
  • 24:50 – Work back from your needs 
  • 27:39 – Considerations for older investors 
  • 28:13 – Why market cycle timing is important 
  • 30:13 – Access to funding & lenders  
  • 34:41 – Q3) Multiple IP’s already and wondering what to do next? 
  • 35:42 – Why intention matters!  
  • 36:42 – Should Matt live off equity?  
  • 38:46 – How to figure out what is possible 
  • 39:49 – When rates or costs of living go up, how does it affect a Living Off Equity strategy? 
  • 41:57 – This is a perfect “What if” example 
  • 44:06 – The 4 Expense Categories  
  • 45:59 – What living off equity means  
  • 46:45 – Listener Tale: The Importance of Property Management 
  • 50:42 – You either pay with money or time!  

And… 

  • 52:13 – Lifehack: With or Without Me energy  
  • 55:22 – WMPN: Moving the dial for women!  

473 | Juggling Teenagers, Divorce, and 4 Properties: How This Single Mum Conquered Her Financial Pain – Chat with Leisa

 

 

It’s no secret that maintaining a multi-property portfolio in a high-interest environment is hard. Now add in a difficult divorce and raising two teenagers in the most expensive phase of their lives and well…

You have the incredibly motivational and heart-warming story of Leisa, this week’s brilliant Summer Series guest. 

From her initial plan to own 10 properties (yep…things really have changed since the times when “he who dies with the most properties wins!”) to the revolving door of properties she’s bought and sold to juggle cash flow…

We follow Leisa on her jaw-dropping journey as she navigates holding onto her 4 properties, is blasted with a $15,000 levy fee, manages mortgage prison and much more on her journey to passive income retirement.

An inspirational tale for all, we hope Leisa’s story will inspire – particularly the middle-aged folks out there or solo supermums – who fear it’s too late for them to get onto the property ladder. Please just listen to this episode!

P.S. Merry Christmas folks! From Bryce, Ben & the team of Stigs, we hope you have a very safe and festive break 😊🎄🎅🎁

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 – Juggling Teenagers, Divorce, and 4 Properties: How This Single Mum Conquered Her Financial Pain 
  • 1:34 – Welcome Leisa!  
  • 2:48 – The family decision that changed her life…  
  • 4:41 – Her eye-opening money experiences at boarding school 😮  
  • 8:33 – First jobs and her foray into property  
  • 11:09 – The 1st money management system she had  
  • 12:38 – How did she learn her money values?  
  • 13:51 – Buying Property #1  
  • 17:29 – Struck by a $15,000 levy – with no benefit?! 🙁  
  • 20:57 – Why did she choose a unit over a house?  
  • 22:13 – Property #2 and the family home!  
  • 24:13 – Selling a property, sheriffs & maternity leave… 
  • 28:05 – An original plan of 10 properties?!   
  • 31:00 – 6 properties in 5 years! 😮  
  • 34:25 – The Divorce: Just 12 hours to switch from joint to sole ownership!?  
  • 37:02 – THIS is how she continued to finance her property portfolio  
  • 42:01 – Why having aligned money values is SO critical!!  
  • 46:47 – Caught in mortgage prison & navigating a rising rate environment  
  • 48:52 – Getting creative with solutions  
  • 52:40 – Reworking her cash flow through tax!  
  • 54:22 – How to become problem aware (aka. Why most people DON’T achieve a self-funded retirement)  
  • 57:58 – Property as a financial backbone  
  • 1:00:08 – This is an absolute success story 😊  
  • 1:03:55 – Why did Leisa come onto the couch?  
  • 1:06:33 – Thank you Leisa! What an incredible story.  
  • 1:07:25 – For those holding, use this to see how long your money will last.  
  • 1:10:35 – Merry Christmas folks!!

 

472 | “We’re Moving to Kalgoorlie!”: Sacrifices, Savings, and Three Investment Properties Later – Chat with Amy

 

 

This week’s episode is about many things… 

💎 The boundless rewards that come from delayed gratification,
📚 The enlightening power of financial empowerment, and…
🧑‍🌾 Getting out of your comfort zone by heading to the outback.  

Meet Amy, today’s brave and resourceful Summer Series guest!  

Growing up with “tangible money values”, Amy would spend her early 20’s prioritising life experiences over financial gain until the age of 26 when she made 1 life-changing decision…  

This would completely change her financial future and allow her and Sam, her wife, to leap onto the property ladder in less than a year.   

Tune in to hear what this revolutionary decision was, their experience moving from the East Coast to the Outback and their diverse property investing journey.    

From their first hands-on property investment to the land purchase near Byron Bay to the joint venture with her parents, Amy’s story has many chapters full of laughs and good lessons along the way.  

An episode for those who are willing to get outside their comfort zone to get into the property game, listen in now! 

 

 

P.S. Did we mention…Amy’s been a Property Couch listener for 9 years?! What an honour to talk to a long-time listener 😊🌌✨ 

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 – “We’re Moving to Kalgoorlie!”: Sacrifices, Savings, and Three Investment Properties Later 
  • 1:23 – Welcome Amy!  
  • 2:30 – Tangible money values & having parents who “taught them how to fish”  
  • 5:52 – 2 sisters, 2 different investing pathways  
  • 6:54 – Passing on these values to the kids… 
  • 8:08 – Travelling & spending on experiences in her 20s  
  • 9:47 – The money system she’s always used to save…  
  • 10:55 – The big sacrifice they had to make to get onto the property ladder  
  • 12:21 – From the Coast to Outback: The Move to Kalgoorlie!  
  • 14:19 – Why did Amy decide to financially educate herself?  
  • 17:00 – Why they chose their investing strategy!  
  • 17:21 – Their first investment property  
  • 19:19 – THIS is best asset they purchased!  
  • 21:13 – Why did they choose to invest and build a Granny Flat?  
  • 23:23 – Releasing Equity & Starting a Family  
  • 24:57 – Going borderless!  
  • 27:38 – Would she do it again?  
  • 29:51 – The joint venture with the parents!  
  • 32:45 – Her pragmatic approach to rates and land tax 
  • 36:16 – Into the future: Kids growing up and outgrowing the family home?  
  • 38:04 – What does money mean to Amy?  
  • 40:59 – Why she wanted to come onto the couch!  
  • 44:07 – Key Takeaways  
  • 45:37 – What an incredible story! Thank you Amy! 😊  

What’s Your Money Story Like? Join us for our Summer Series and Share Your Story!

We get it… Talking about money can feel awkward and uncomfortable.

But it shouldn’t be a taboo subject!

Having conversations about money not only allows us to understand ourselves better but also gives us the opportunity to learn more from each other.

So, would you like to be in our Summer Series Podcast?

We’d love to listen to your story and your own tips and tricks in money management! And as promised, we will be very gentle. And if you have a specific question in mind, we want to hear it directly from you too!

Just fill in the form below and we’ll get in touch right away. 😉

 

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