| 1. |
7 Habits Of Successful
People
1. Work Hard
Don't believe the hype about working smart; successful people are not lazy, they have a
huge capacity for work. They subscribe to view of Francoise de Motteville who said "The
true way to render ourselves happy is to love our work and find in it our pleasure.
"Spike Milligan had a different angle; he said "All I ask is the chance to prove that
money can't make me happy." |
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| 2. |
A Guru tells You How To
Win
Bob Rotella, is recognized as the top Sports Psychologist in the world
and has dedicated his life to helping athletes use their minds to take them to
the top. Bob says, "When you watch major golf championships don't be fooled by
the calm expressions - they sweat over every shot; they're nervous. The big
difference is the top performers have learned that success isn't so much about
who has the best swing; it is will their minds let them win? |
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| 3. |
A Giant Of Economics
Milton Friedman belongs in a list of the most important and influential
people of the last 100 years.He promoted what were then new ideas in the 1950's -
free markets and personal liberty. He argued that economic freedom was good
economics and was also necessary for political freedom. At that time, remembering
the great depression (unemployment 18 per cent), many Americans were suspicious
of free markets. |
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| 4. |
Beware of Governments
Nine years ago the New York Times published an article warning of the
problems that could arise from US mortgage provider Fannie Mae's plans to ease
credit requirements and offer up home ownership to anyone with a
pulse. |
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| 5. |
Tax Tips
CGT is payable, in full, on the sale of your PPR if it is not in the
name of an individual who lives there. So, if the property is held in the name of
a company, trust or anyone else, such as your parents, you will not enjoy a CGT
exemption. |
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| 6. |
Common Vendor Mistakes
It's not uncommon for some sellers to spend thousands of dollars,
needlessly, in an effort to upgrade, prior to sale.They do this, in the belief
that it will add heaps to the value of the property, resulting in them recouping
their outlay tenfold is misguided. By all means apply a little TLC, if need be,
but there is no need to go overboard. |
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| 7. |
Common Personal
Finance Mistakes
While statistics may lead us to think that overspending is common, it is
certainly not wise and is even risky. But, with a little thought and effort, you
can protect your pay cheque by being aware of these common financial
mistakes and how to minimise them: |
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| 8. |
Defeat Those Inner
Gremlins
The majority of people suffer debilitating fears.
The inner gremlins are always there to raise doubts about anything that might alter
their status quo: Do you really think that is wise? Are you ready to do this? Why don't
you get another opinion? Are you sure you're not getting in over your head? What will
people think? |
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| 9. |
Tax Tips Depriciating
Tax Tips. Depreciating the cost of building is available for residential
investment properties built after 17 July 1985. So, while those built prior to
that date do not qualify to write-off the building they are able to depreciate
the plant and equipment. |
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| 10. |
Don't Mess With Mr
Inbetween
We regard stress as something harmful, dangerous, negative, of great
mental and emotional strain and causing only health problems. Stress, however,
does not mean this exactly. |
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| 11. |
Exponential Growth
With exponential growth, the larger the quantity gets, the faster it
grows. Think about that. One microbe in a jar divides into two, then four,
then eight, then sixteen etc. So if it takes 10 days to half fill the jar,
how long does it take to fill the jar? The answer is 11 days.
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| 12. |
Fund Managers Do OK
Notwithstanding super funds reporting their biggest losses in almost two
decades, fund managers received record fees.Over $65 billion was wiped of super
balances, yet fund managers were still paid about $15 billion. |
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| 13. |
10 Tips For Greater
Self Esteem
Low self esteem comes in many garbs. Low self esteem creates a
need to “fit in” and be popular, because needing others’ approval is a way of
comforting yourself when you don’t have your own vote of approval. Being prepared
to be different is evidence of a healthy self esteem |
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| 14. |
Growth Or Security
Imagine 200 people, at birth. Current figures suggest that, on average, they will live
to an age of 81 (let's say 80 for convenience sake). Theoretically, that average could
be made up of 100 people living to 60 plus 100 people living to 100 years of
age. |
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| 15. |
unclaimed-money.nichetray Reclaim Your Lost Riches And Assets
There's almost $33 billion in unclaimed money from old payroll checks, utility refunds,
trust distributions, stocks, banking or checking accounts, lost riches and assets,
certificates of deposit and the contents of safe deposit boxes, according to estimates
by the National Association of Unclaimed Property Administrators. |
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| 16. |
The Greatest Obstacle to Success
If you were to transport yourself back say, 5, 10 or more years, knowing
what you know today about property values, could you say that there have been
thousands, if not millions of opportunities to create financial security? And
yet, 93% of Australians are retiring broke after working for 40
years? |
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| 17. |
5 Steps to Becoming a
Landlord
The thirty percent of Australians who are
renters is forecast to rise to forty percent as homes become less affordable. This
is good news for property investors because maintaining a good occupancy rate is
crucial to your success. |
| 18. |
Become a Property Baron
Borrowing to invest in growth assets is the key to serious wealth
accumulation. That's simply because, although borrowing increases your exposure to
market risk, it also creates the potential for more rewards because share-markets
and property has always gone up, long term. Remember, debt is one of the few tools
available to ordinary people to build extraordinary wealth. |
| 19. |
5
Typical Novice Mistakes
Mistake 1: BUYING THE DWELLING NOT THE LOCATION
Buying an investment property is a business! It requires that you assess
it in a business-like manner. Understand that you really don't want a dwelling on the land (because it declines in
value) but you need a dwelling (for
taxation reasons). So, don't get "hung up" on the peripheral features of the
dwelling. |
| 20. |
6 Keys to Personal Financial
Success
We all make mistakes, but there are some fundamental ones that will cause
long term damage. We commit those mistakes for any number of reasons including
fear, ignorance, ego or a desire for immediate gratification. This disinclination
to give up a certain immediate benefit for an uncertain substantially greater
future benefit is well recognized by psychologists. |
| 21. |
Are
the Rich Different? Investors who are seeking the secret to becoming rich are likely
to be disappointed to find there is no secret; they invest their money in the
same assets as everyone else. There are however, key
differences: |
| 22. |
Common
Buyer Errors
It has been said that those who don't learn
from history are doomed to repeat it. With the real estate market in a down cycle,
it's a good time to mull over some of the more common "no-no's." Here are my picks
for mistakes to avoid |
| 23. |
Frequently Asked
Questions
I'VE SEEN STORIES ON THE TV ABOUT
TENANTS DESTROYING PROPERTIES. IS THIS LIKELY?
I
think the reason I haven't, personally, experienced this
problem, is because I don't deal with the "bottom end" of the market. I minimise
this risk by not dealing in the cheapest and oldest properties, using experienced
property managers and securing tenant protection insurance. |
| 24. |
More Important Than the Property
Choice
The simplest asset class classification is shares, fixed interest, property
or cash. Those classifications can be further divided into numerous sub-classes,
such as houses, units, offices, factories (property), or even houses in America or
Queensland or Perth etc. |
| 25. |
Number
1 Welfare State
Australia could be described as the number one welfare state in the world,
with the percentage of GDP going to welfare setting the record, ahead of former
communist nations and traditional welfare states like Sweden - this is clearly
unsustainable. And yet the government is being urged to add another 20 weeks of
taxpayer funded parental leave to the equation. |
| 26. |
Our
Future - Immigration
All industrialized western nations have a
remarkably similar problem - a time bomb ticking away - their ageing
population. Over the next 50 years, the ageing of Australians will cost the public
purse some $1.2 trillion in extra spending, equal to approximately $175,000 per
household. Those funds will need to come from somewhere. |
| 24. |
Secrets of the Seriously Wealthy
Forget the film star imagery; the "beautiful people" driving their
luxury cars and lunching at the visible up-market restaurants, trying to make
themselves feel like winners. |
