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493 | $160K Dilemma: Should I Walk Away From Paper Profits?

By in Podcast, Property Investment, Q&A

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Emma’s partner has a $160K dilemma: He’s been offered a refund on an Off-The-Plan apartment that’s been delayed for two years. Should he take the refund or ride it out for a potentially higher sell price? 🤔 

Kieran faces the decision of investing in smaller units versus two individual homes. Which is the better investment decision for him, and how can he align it with his goal of helping others? 🌍   

And in Simone’s Retirement Plan: How does this single mum and schoolteacher with 5 properties reach a target of $2,000 per week for retirement? How does this stack up in today’s economy? 📈 

Folks, this is a massive Q&A Day where we link age-old questions in today’s nuanced context.  

From diving into the psychology of Loss Aversion to understanding why “C” is the hardest to achieve in our “ABCD” foundational principles, you’ll want to save this episode for future reference.  

Listen now folks! 😊  

 

P.S. Stay tuned till the end to discover how to type…without typing!?  

   

Free Stuff Mentioned

 

Timestamps

  • 0:00 – $160K Dilemma: Should I Walk Away From Paper Profits? 
  • 1:49 – Interest rates, budget release & TPC survey winners  
  • 8:01 – New Tracking Tools in Moorr! 
  • 16:34 – Mindset Minute: “Just focus your eyes on the captain…” 
  • 23:38 – Q1) Get Deposit back or Wait for Growth 
  • 27:26 – Learning Experience or Loss Aversion? 😱 
  • 28:02 – How to Avoid Loss Aversion: Step-by-Step  
  • 32:55 – “A bird in hand vs two in the bush” 
  • 36:31 – Why Off-The-Plan means YOU are taking all the risk  
  • 37:12 – This refund is a red flag 🚩 
  • 43:14 – Q2) Small Complex vs 2 Individual Properties 
  • 45:00 – When passive investing stops being passive  
  • 47:37 – To help others, you need to be in THIS position 
  • 49:52 – Why houses over units? 🏘️ 
  • 53:53 – Q3) Archive Question: $2k per week in 20 years’ time 
  • 56:41 – How we calculate the $2,000 a week in retirement  
  • 57:31 – The Power of Compounding, Offset Accounts and Qs to ask 
  • 1:00:07 – Why “C” is the hardest to achieve in our ABCD foundational principles 💰 
  • 1:05:09 – Thank you to all our Question-Askers!  

And… 

  • 1:05:45 – Lifehack: How to type…without typing?! 📱 
  • 1:07:20 – WMPN:  The State of the Housing System 

492 | The Hidden Cost of Get Rich Quick Schemes

By in Case Study, Podcast, Property Investment

 

What would you do if you worked 16-hour days on the road and were utterly exhausted the few days you were home? With a family to care for and a past of previous divorces, you’d probably want to change your lifestyle. 

But what if it’ll cost you $42,000 A YEAR? 

Or, what if you’d made the #1 biggest investing regret of your life in a get-rich-quick scheme and had lost half a million dollars?! How would you recover and get back on track towards a comfortable retirement?    

In this Case Studies episode, we’re mapping out two plans for two couples (names have been changed for privacy 😊) whose stories testify to the fact that there is no one “right” way to invest in property. 

Psst – we bet you’ll be intrigued by the unexpected turn of events in Case Study #2. It’s a reminder that the path to financial freedom often involves tough reality checks to see new opportunities.   

It’s an inspirational episode that holds many cautionary tales, tune in now to avoid falling into the same traps!   

   

Free Stuff Mentioned

Timestamps

  • 0:00 – The Hidden Cost of Get Rich Quick Schemes 
  • 1:22 – Even the sun shines once 😉 and a message from Kurtis  
  • 5:23 – Thank you for all your feedback!  
  • 6:31 – The magic in “Sliding Door” moments  
  • 7:49 – Mindset Minute: Grant Mayo on how to figure out if you should buy it!  
  • 11:01 – Don’t listen to our pod if you love flashy cars 😉  
  • 12:43– Case Study #1: Not All Lifestyle Design Is Measured In Dollars 
  • 15:22 – The Problems: Past divorces and a $42K pay cut?! 
  • 18:43 – The Power of Automobile University  
  • 20:28 – Moorr: Brand-new insights to track the impact of your offset on your total debt levels! 
  • 22:04 – “Investing isn’t just for rich people” 
  • 24:09 – The Plan: How James will get his energy and life back while paying off the mortgage 
  • 29:04 – Buying for $600k in 2028: But why don’t they act NOW?  
  • 31:53 – Risk profiling, recency bias & the perfection solution  
  • 35:09 – The hard work behind the scenes  
  • 40:12 – Results & 5 key takeaways  
  • 43:34 – Case Study #2: The True Price of Get Rich Quick Schemes 
  • 46:07 – His #1 biggest investing regret  
  • 50:20 – They were unclear on THIS important knowledge  
  • 54:04 – The fears & their penny-drop moment 
  • 55:51 – The Plan Pivot: The dream home was not feasible?? 🙁  
  • 1:02:13 – “Sometimes healing comes from bringing the darkness into the light, in a place of trust”  
  • 1:04:02 – The Result: Debt free 2 years before retirement 
  • 1:09:26 – Is it time for your engine check?  
  • 1:11:19 – The Modest & Comfortable budget needed in retirement 

And… 

  • 1:13:32 – Lifehack: How much does it cost a day to blow $10K in a year?!  
  • 1:14:55 – WMPN:  46% of Commonwealth Bank’s customers in 2023 were from THIS generation 😮  

James Clear: Forget Your Goals, Focus on Systems

By in Podcast

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Please Note: This episode is a re-run. The original air-date was on December 5, 2019. 😊     

Building on from Episode 482, where we explored why progress tracking is key to healthy financial habit formation, we’re bringing back an old episode where we uncover… 

The 4-step framework from James Clear on how to build good habits and break bad ones – for good!  

For those unfamiliar with this best-selling author of Atomic Habits, James applies a unique blend of scientific research and practical life to breaking and building habits. His website receives millions of visitors each month, and he is a regular speaker at Fortune 500 companies.  

We’ll explore his distinctive perspective on habit-building, decision-making and continuous improvement from creating environmental design to the “scaling down” strategy.  

It’s an episode about creating lasting behaviours, overcoming setbacks and what encompasses true behavioural change. Tune in now!

 

Free Stuff Mentioned

  • Make Money Simple Again: Download our best-selling book that breaks down our MoneySMARTS money management system for FREE here >>    
  • Moorr App: Check out our money management platform (available on Desktop and Mobile) that automates the system from Make Money Simple Again. Create your free account or login >>  

 

Additional Resources

Timestamps

  • 0:00 – James Clear: Forget Your Goals, Focus on Systems    
  • 3:56 – Welcome James!  
  • 5:44 – His backstory… 
  • 10:40 – Why focus on daily habits?  
  • 12:58 – The downsides to goal setting 
  • 15:03 – Why systems always trump goals  
  • 16:49 – How habit formation and MoneySMARTS relate 
  • 18:10 – Scaling Down: How to sustain good habits  
  • 20:05 – Why does the entry point matter more than the end?  
  • 21:27 – What is true behaviour change? 
  • 23:58 – What common habits can you move the needle on quickly? 
  • 26:36 – The 4-step Framework to Build Good Habits and Break Bad Ones 
  • 31:51 – Environment design: Why it matters!  
  • 34:33 – Why you need to Master the Art of Delayed Gratification 
  • 36:32 – What is The Valley of Death? (And how do you get through it?) 
  • 38:00 – GOLD! 
  • 43:10 – What does James recommend? 
  • 44:33 – How does James get so much done?? 
  • 48:32 – How to deal with disappointment and setbacks  
  • 52:04 – James’ book recommendations 

 

482 | Why Your Financial Habits Aren’t Sticking

By in Podcast, Property Investment

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We all know money is simple, but behaviour is hard. 

So what can we do to create lasting financial habits and behaviours instead of falling back into old money habits?   

Folks, in today’s episode, we’re sharing a scientifically backed solution that’ll reveal how to achieve your goals financially and in life.  

From introducing feedback loops to creating accountability (and that’s just the tip of the iceberg), we’re uncovering how these can be used to boost goal achievement, motivation, self-efficacy, and more!  

It’s a revolutionary episode where we dive beyond the waters of investing psychology and into the deeper, murkier waters of why humans act the way we do. Give it a listen now!   

 

Free Stuff Mentioned

  • It’s our 9th Birthday! Our Present to You: Free Suburb Report
    Time’s running out to get your Suburb Report for free. Learn how your suburb has performed and its changing community and properties.  
  • “Make Money Smart Again” Book: Our MoneySMARTS money management that’ll reduce your decision fatigue, teach healthy financial habits, and (as the name suggests) simplify your money management. 😊  
  • “The Armchair Guide to Property Investing” Book: The simple steps to invest in property and how to achieve your passive income goals. 
  • Moorr Money Management App: Our platform automates the money management system from “Make Money Simple Again” (available on mobile and desktop). We’ve just introduced MyFinancials and Historical Tracking to help you easily track your progress towards your financial goals!  
  • Read James Clear, Author of Atomic Habits, Ultimate Habit Tracker Guide  
  • Episodes 261 | How to Hack Your Habits to Make You a Better Money Manager – Chat with James Clear 

 

Events Mentioned

  • The Property Investors Council of Australia (PICA) Webinar:
    Melinda Jennison, REBAA Chair, will share insights into the 2024 market outlook, key elements to watch out for as property investors and uncover what buyers’ agents bring to the table. 7-8pm, 27th February AEDST.  
  • Investing for Doctors: Financial Independence Career Optionality Conference
    Ben will be the first speaker on Saturday, 9 March! Tune in to hear a range of speakers from the property world sharing information to assist doctors in everything they need to succeed in their financial and wealth creation journey. The event runs 9-10th March in Sydney. 

 

Timestamps

  • 0:00 – Why Your Financial Habits Aren’t Sticking    
  • 1:21 – It’s our 9th birthday & upcoming events 
  • 8:07 – Mindset Minute: Saving vs. Investing  
  • 9:39 – “Money is simple, behaviour is hard”  
  • 12:00 – The secret behind motivation and goal achievement  
  • 14:00 – How to implement goal tracking  
  • 16:32 – Why financial goals are no different from any other goals 
  • 20:18 – Finding evidence to increase your Self-Efficacy 
  • 22:21 – Be, Do, Have   
  • 26:02 – Habit formation and behavioural change  
  • 29:14 – How Ben quelled his financial anxiety 
  • 33:15 – C_ _p_r_s_n is the thief of joy 
  • 36:05 – Keep it simple!  
  • 40:10 – How to overcome decision fatigue 
  • 43:44 – THIS can be used for the power of good or bad  
  • 49:37 – If you see the progress, it makes you… 
  • 52:37 – Perception of t___ and e____ 
  • 54:27 – This is the 2nd most important thing to be successful  
  • 56:21 – How to track your progress easily  
  • 1:06:16 – Recap 
  • 1:07:20 – Sustained Consistency!   

And… 

  • 1:08:15 – Lifehack: Small action to motivation. Take action today.  
  • 1:22:54 – WMPN: Interest rate cuts in the later part of year… 

 

March Monthly Recap

By in Free Resources

Episodes

Ep 484 | Cracking the Code: Mastering the 60% Land to Asset Ratio

Kicking off our first Q&A session for 2024, we’re diving into the widespread economic and political factors that have become “the perfect recipe” for today’s housing crisis, dissect how to master the 60% of land-to-asset ratios and more!

484 - Cracking the Code: Mastering the 60% Land to Asset Ratio

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.

486 | “Stuff This!”: How to Tackle Financial Anxiety

Ep 486 | “Stuff This!”: How to Tackle Financial Anxiety

We’ve all experienced the gut-wrenching anxiety that comes with property investing, and it’s a natural response considering the large sums of money and extensive time involved.

But what happens when it becomes an overwhelming feeling that wakes you up at 2am?

Folks, this is just one of the REAL stories from today’s honest and inspirational Case Study episode.

486 - Tackle financial anxiety

Bonus Episodes!

Exploring “Scarcity” in Property Investment

Note: This episode is a re-run of one of our older episodes. It originally aired on 12th November 2015 😊

In this episode, we explore why the old adage of ‘location, location, location’ still rings true for property investment. We explore how 80% of your return is determined by where you buy and only 20% by what you buy.

Redefining Debt: The Game Changing Strategy You Need to Hear

In this week’s episode, Bryce makes a guest appearance on the Wealth Time Freedom (WTF) podcast, hosted by Terry Condon!   

They cover a wide range of topics including:
        💵 Horrible, tolerable and productive debt
        🏘️ How to pick an investment grade property
        👩‍👦‍👦 Demographic shifts that are likely to impact property prices over the next 5-10 years 

This bonus episode is all about the courage to pursue passion over expectations, cultivate financial resilience, and play the long game of property investment! 

Redefining debt

Free Stuff…

Property Suburb Report 

Learn how your suburb has performed and its changing community and properties. ‘Cos it’s our birthday month, we’re also giving it away for free!

Free Property Report

Corelogic’s Women in Property Report 

As Australians increasingly engage in conversations around gender equality, CoreLogic adds a new dimension to the debate – the issue of gender equity in property ownership. This year, they’ve also updated their survey methodology to offer new insights into the differences between genders in motivations, attitudes and barriers to getting on the property ladder.

CoreLogic Women and Property 2024

RBA Cash Rate Mar 2024 | Are We Facing Challenges with Sticky Inflation?

Welcome to the second RBA Rate Release of 2024!

Once again, our esteemed economist Evan Lucas and affable host, Ben Kingsley, reunite to decipher the latest economic trends and data in this month’s episode.

In this instalment, Ben & Evan covers sticky inflation in the US, dive deep into the December GDP Quarter Numbers, uncover the Bank of Japan’s Interest Rate Decision, and much more.

RBA March 2024

MOORR Webinar Replay: Best Tools for the Job – What to Use When?

Within Moorr, our money management platform, there are currently over 25 features and tools, providing more than 100 different insights!

We recently hosted a webinar covering the best tools for the job and revealed how all your data comes together to give you meaningful insights through our “track your progress” approach to money management.

Webinar Replay | Moorr’s Best Tools for the Job: What to Use When

Check out our other platforms for more free content:

Youtube >> 

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Facebook >>

 

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