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Episode 387 | Everything you need to know about Home & Contents Insurance – Chat with Steve Mickenbecker

It’s no secret that Australia is facing an insurance crisis. 

Did you know that roughly 70-80% of all Aussies are underinsured?!  

With the constant string of natural disasters from fires to floods, the ability to choose the right personal insurance that actually covers you is becoming more and more critical!  

It might not be our sexiest topic folks, but it’s definitely super important to know!! 

But how are you supposed to know what insurance is best for you?   

Or what makes an insurance policy a good insurance policy??  

Thankfully to help us clear this muddy water we’ve got Steve Mickenbecker, financial services expert!  

As well as being part of Canstar’s Group Executive Team (aka. Australia’s Biggest Financial Comparison site!!), Steve is also Canstar’s financial commentator.

He brings more than 30 years of experience in home loans, superannuation, insurance, mortgages, banking, credit cards, investment, budgeting, money management and SO MUCH MORE!  

Basically…he’s the ultimate insurance guru!!  

And he’s here to explain… 

What the heck is Stagflation?!  

How to ensure your insurance policy appropriately covers flood damage!  

What the future for insurance policy services will be (Are we destined to forever be served by robots and AI?!)  

PLUS, Steve will deep dive into some of  Canstar’s and the Insurance Council of Australia’s Catastrophe Data. 

Listen in now folks – this one is real eye-opener! 🤯 

 

Free Stuff Mentioned 

 

Here’s some of the gold we cover… 

  • 2:02 – Money problems are actually Money H___!  
  • 3:48 – Welcome Steve Mickenbecker!!  
  • 5:37 – From ledger cards to cryptocurrency: Steve’s Money Backstory  
  • 14:36 – How Steve first got into finance!  
  • 16:21 – What the heck is Stagflation?! (And why haven’t we seen it since??)  
  • 22:13 – Why is it important to get your insurance right?   
  • 25:24 – What factors should you consider when selecting insurance? 
  • 27:44 – The underinsurance epidemic and why we’re seeing it today! 
  • 29:10 – How to CORRECTLY calculate if you’re underinsured… 
  • 35:23 – Folks, THIS is why you should read annual changes in your insurance policy!  
  • 36:36 – How to ensure your big-ticket items inside your house are actually covered!  
  • 40:20 – Steve’s rule of thumb for knowing what items you should ensure 
  • 42:05 – How to choose the best insurer for you!  
  • 47:30 – So…what actually makes a good policy?  
  • 51:15 – How much excess is juust right? 
  • 53:31 – Online vs. Human insurance service  
  • 55:45 – What sort of records should people keep for claims?  
  • 58:21 – Data dive into natural disaster coverage… 
  • 1:00:30 – The Average out of pocket costs for home and contents insurance!! (WOW!)  

And… 

 

Episode 378 | The voice behind “The Female Investor”! – Chat with Nicola McDougall

Did you know that 1 in 3 Australian women retire with no super? Or that women are twice as likely as men to sell their house and move to lower-cost accommodation because of tight financial circumstances during retirement?

That’s a SHOCKING fact folks.  And joining us to deep dive into this complex topic is none other than Nicola McDougall: Chair of the Property Investment Professionals of Australia (PIPA), Director of Bricks & Mortar media, award-winning journalist and editor, and co-author of the newly released book: “The Female Investor: Creating Wealth, Security, and Freedom through Property”!!

(Talk about talented right?! Not to mention she’s our good friend from way back.)

Today we deep dive into Nicola’s history from journalist to property investor, her work with PIPA, what she hopes to achieve with her new book, and WHY women need to gain greater financial independence!!

You’ll also get to learn Nicola’s TOP 5 tips for financial empowerment…

  1. Prioritise your _______
  2. Learn about strategic _________
  3. Focus on the ____, not the ___!
  4. Understand there is no _______ approach
  5. Work with _____

 

And be sure to stick around to the end to hear the lifehack that applies to both dealing with anxiety and … property investing?!

We also slip in a special discount towards the end folks! 😉

 

Free Stuff Mentioned

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Here’s what we cover…

  • 3:20 – Hayden Linggood, Cactus Clan, Asdfgyrfcjdxfuvsuhdu, Lifestyle by design, luke miller, Gazzab32, propertybeginner, Ryan Daniel Fuller, amasum – Contact us for a FREE “Start & Build” course – Cheers for leaving us a review!
  • 9:01 – Why you need BOTH the Audiobook and PDF of our FREE eBook “The Armchair Guide to Property Investing
  • 11:50 – One of Bryce’s favourite Robert Kiyosaki quotes!
  • 13:05 – What does “Risk is a measure of knowledge, not a measure of investment” mean?
  • 14:33 – Meet Nicola!
  • 15:38 – So…how does Ben, Nicola and the PIPA all tie together??
  • 18:20 – The rise of PIPA and its plans for 2022
  • 21:16 – How regulated property advice can affect YOU and your business
  • 23:38 – This is WHY PIPA does what it does!
  • 24:55 – Nicola hopes THIS will become the benchmark in the property industry
  • 29:13 – Consumers can now check THIS on the PIPA website!!
  • 30:37 – A family dynamic of openness: A peek into Nicola’s history
  • 34:00 – How Nicola went from global nomad to successful journalist
  • 36:59 – The FIRST property Nicola bought
  • 39:16 – Who Nicola’s property portfolio mentors were!
  • 41:07 – Nicola’s written over HOW many words about property?!?
  • 42:06 – THIS was Nicola’s inspiration for “The Female Investor
  • 44:15 – Why women need to prioritise financial independence
  • 46:13 – Nicola’s dream for the future
  • 48:30 – Nicola’s TOP 5 tips for financial empowerment
  • 58:10 – Will THIS problem be addressed by today’s generation of female investors?
  • 1:01:54 – What does the female pay gap look like in 2022?
  • 1:03:35 – A special discount for listeners! (Valid until the 28 Feb 2022!)
  • 1:06:57 – Nicola’s lifehack for EVERYTHING from mental health to property health!
  • 1:10:05 – “You can’t be what you can’t see”: Normalising anxiety

And…

  • 1:16:29 – These 3 cities now have a median house price of OVER 1M!

 

 

 

Episode 366 | How to Break into the Property Market?

Folks, the last time we unpacked a case study on the podcast was back in Episode 64 on 19th of May 2016. (WHAT?!!!)

So… you can imagine how excited we were with this episode, can’t you? 😉

In fact, Ben said this at the very start…

“MAAAAATE…. This is a MEGA episode!”

And no, he’s not exaggerating!

What we are doing today is a bit of Myth Busting coupled with some data, graph and cashflow modelling. And here’s a spoiler… You’ll be very surprised at our proposed strategy for this case study cause it’s not exactly what we’ve been banging on about for the last 300+ episodes.

Why are we proposing this then?

Well….

Cause we are going through a rapid price growth cycle and our strategy needs to be flexible and agile!

But before you start tearing off those pages in your custom-made The Property Couch Textbook (just joking but if you have one, please let us know!) remember this…

…. The fundamentals are still very much the same 😉

 

Free Stuff Mentioned

  • 334 | Bernard Salt: The BIG Shift In Australian Property! – Listen here
  • 308 | Pain & Gain: The Wealth Effect & The Housing Affordability Debate – Chat with Eliza Owen from CoreLogic – Listen here
  • PICA’S WEBINAR on Estate Planning – Watch Replay here.
  • ABC News Most Popular Australian Story on Gayle and Mac Shann – Read more here
  • John Kehoe’s Article on Financial Review – Read here
  • FREE Downloadable! Download here or fill in the form below…
  • Free Book: The Armchair Guide to Property Investing! – Get Your Copy Here
  • (85% OFF) Here’s the link to our Black Friday Sale!! >> https://thepropertycouch.com.au/blackfriday
  • (25% OFF) Get Access to Select Residential Reports here! – Don’t forget to key in this discount code: SRPRPT25

  

We recommend you to…

Download this free report before you proceed folks! We’re going through some charts and graphs today so if you’d like to play along at home, fill in your details below and let us know where to send them to! 😉


  • Are you also interested to have a better understanding of your cashflow position via our FREE Money SMARTS Platform?

  • This field is for validation purposes and should be left unchanged.

 

Here’s some of the gold we cover…

  • 1:40 – Thinking about your Estate Planning? Check out PICA’s webinar here!
  • 3:03 – THIS Quote from James Clear is epic folks!
  • 4:51 – What is the Real Myth that we Busting today?
  • 6:44 – If you feel like it’s all impossible…. Check this part out.
  • 8:27 – The start of the STRATEGY segment
  • 9:02 – What are the 5 Types of Investors?
  • 11:31 – The TWO Pathway to Equity that we are focusing on today…
  • 14:03 – Moving on to TACTICS!
  • 14:35 – How much deposit is needed for this strategy??!!
  • 16:06 – Practical tips to boost your borrowing power
  • 17:29 – Let’s be honest… here’s what you need to sacrifice.
  • 21:28 – Asset Selection 101
  • 23:11 – What are the TWO Asset Aspects a millennial should focus on?
  • 25:11 – How do you fast track your research for this strategy?
  • 26:59 – THIS is the price range we’re looking at today…
  • 28:37 – What are the areas that you want to stay away from?
  • 32:03 – What’s our definition of “Buying Below Market Value”?
  • 34:11 – Over _ _ _ _ _ _ _ _ _ _ _ _ : One of the Core Risk for this strategy
  • 36:00 – The biggest bang for buck you get in terms of dollar down versus dollar return is…
  • 39:11 – Here’s when you should consider sub-division
  • 41:21 – Serious about research? Which data you should focus on?
  • 43:30 – Everything that you need to AVOID!
  • 47:07 – Download this Free One Pager here before you proceed!
  • 47:45 – The hero of today’s episode… our CASE STUDY!!

And…

  • 1:05:28 – Our BLACK FRIDAY Sales!!
  • 1:11:11 – What’s making property news – Soaring stamp duty ‘bracket creep on steroids’

 

 

 

 

 

 

Episode 365 | Why Is investing So Confusing?

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

 

 

 

 

 

 

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

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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