Traits that make you filthy rich.
So what are the traits that make you filthy rich?
A question that David asked us last week. Let’s go back to basics at the moment & drop the filthy as all goals need to be achievable. However the multiple billionaires both here & elsewhere would state that the status of a billionaire is easily attainable.
All observations & there have been many say in the classic Napoleon Hill ‘Think & Grow Rich’ that all have a passion for their idea & which they have grown into a business.
Hence we only need to look closely to the Murdock’s & the Packers & maybe the Hancock’s to trace back to a simple idea. They & the families in these cases have grown the seed of an idea into a business. They have taken generations but at each step from inception to maturity there has to be the passion to progress & break through.
Of course this passion can be achieved by you or your neighbour. Another classic ‘The Millionaire Next Door’ demonstrated that certainly rich, say a millionaire, could be in your suburb. The challenge for your neighbour who is in his own business is to maintain that passion & hence the need as explained in ‘The E-myth revisited’ is to build a business which functions without the original entrepreneur.
We are working closely with Owen at the moment who has an idea that could leap him into the rich & maybe the very rich. He has striven for six years to break through. He has the passion to make it happen sometime. Has Steve Jobs passion for Apple?
A second tip would be that all have listened to others. This again is discussed in ‘Think & Grow Rich’. All have had mentors or coaches or teachers be it their father say Tiger or Gina or surrounding themselves with the best & the brightest.
Those Formula 1 drivers might have the passion or ‘madness’ to drive their cars but they don’t look under the bonnet or change the tyres. Any sustainable business which is built on an idea needs the very best to build & expand that idea. A jack of all trades won’t do.
The entrepreneur is the general of the business but he needs his commanders & his troops.
Our visitor today is the CEO of 3 companies employing 120+ staff & owned by one man. This entrepreneur has built a business from [yes CHC].
These mentors to the entrepreneur may change over time.
However the entrepreneur always listens.
Another tip is [We suspect] that most have some challenges early in life. As Archie would say ‘a splinter in the banister of life.’ When there is no turning back then the way must be to go forward.
We only need to go back within our own families who immigrated here. After months at sea then if you survived it then you were unlikely to make the return trip. It would be a good study to see how the current boat asylum seekers make out over the next few years. We would observe those previous groups say after the various wars who made Australia home.
You would have to say that many are rich & no doubt some are filthy rich. Many of course never discuss these issues with anyone else.
Owen who we mentioned above certainly has had more than his share of splinters. However with another common trait of persistence then we expect him to make the rich ranks.
Yes that is another trait persistence to crystallise the idea through. It was yesterday that we meet Louie who we have know since 1994 who has on his desk the classic picture with the frog being swallowed by the heron but resisting by strangling the throat. i.e. never, never ever give up.
Again Napoleon Hill & you would have plenty of examples.
Of course you need a little luck to go your way & you need to recognise the opportunity when it arises. However it is the persistence that will separate the winners from the also rans.
One other tip is that it is all meaningless, we would argue, unless you share it with someone. Hence a final clue would be remain married. This is certainly easier said than done & the statistics arguably 40+% state that.
We know how difficult we are ourselves to live with.
However the general observations are that most are scarred financially and emotionally & it takes time for these scars to heal.
Hence one goes backwards when divorce occurs. It could also be a business divorce.
Rupert, amongst others, would show that it doesn’t mean a permanent distraction but in general some prevention & life balance would be wise.
One final tip is that you [probably] don’t want to share it with the Red Queen or provide other social justice donations.
Hence minimising taxx within the ever changing rules makes sense. All need capital to grow a business & losing your hard earned to government waste is a waste.
We return to tip two & before June 30 is the time to minimise your taxx. As everyone is different then we can only generalise that most can be financially tuned up.
One final observation. All the rich & the filthy rich build & invest in businesses. I.e. the house or investing in a house is not on their business plan. Just ask Warren Buffett.
Here are five+ tips & we trust in the above there are some tips to help achieve ‘filthiness’ for you.
Welcome to call us on 07 3848 1088 or email us @ info@wealthcoach.net.au
Are you listening?
John McAuliffe
Could managing your cashflow change your life?
Could managing your cashflow change your life?
‘Cash is king’ and it is a key component of a successful investment strategy. When you get the basics right then you may achieve your financial goals quicker.
There are 4 components to cashflow
1. Income which means all income such as salaries, benefits, dividends, interest & rent.
2. Expenses which means all outgoings which includes mortgages, taxes & living costs.
3. Assets which are defined as cash creating such as deposits or shares or positive incomes.
4. Liabilities which are your loans, credit cards
The main reasons most save are
• The ‘rainy day’ & floods are only be one of them.
• Holidays & travel
• Paying down debts
• Retirement
How are you going so far?
However as only 36% are now debt free then the conventional way isn’t working.
Australians now have the highest level of debt along with their biggest houses.
There was a Westpac survey sometime ago which found that a comfortable lifestyle required an income of 53,000. Who has the necessary 1,000,000 in their retirement accounts?
So how do you get There?
Financial independence is all about positive cashflow.
This is when your additional income meets or exceeds your cost of living. The way to create positive cashflow is by investing in cash creating assets.
To help you with the mind set change that is required we have for you two excellent & free publications
1. ‘Cashflow Matters - How managing your cashflow could change your life’
2. ‘Your cashflow plan’ – a workbook to help you identify your position.
There needs to be a mindset change if you wish to improve your financial position.
If nothing changes then nothing changes
You are welcome to call on 07 3848 1088 or us for these two excellent & free publications.email
John McAuliffe
‘Cash is king’ and it is a key component of a successful investment strategy. When you get the basics right then you may achieve your financial goals quicker.
There are 4 components to cashflow
1. Income which means all income such as salaries, benefits, dividends, interest & rent.
2. Expenses which means all outgoings which includes mortgages, taxes & living costs.
3. Assets which are defined as cash creating such as deposits or shares or positive incomes.
4. Liabilities which are your loans, credit cards
The main reasons most save are
• The ‘rainy day’ & floods are only be one of them.
• Holidays & travel
• Paying down debts
• Retirement
How are you going so far?
However as only 36% are now debt free then the conventional way isn’t working.
Australians now have the highest level of debt along with their biggest houses.
There was a Westpac survey sometime ago which found that a comfortable lifestyle required an income of 53,000. Who has the necessary 1,000,000 in their retirement accounts?
So how do you get There?
Financial independence is all about positive cashflow.
This is when your additional income meets or exceeds your cost of living. The way to create positive cashflow is by investing in cash creating assets.
To help you with the mind set change that is required we have for you two excellent & free publications
1. ‘Cashflow Matters - How managing your cashflow could change your life’
2. ‘Your cashflow plan’ – a workbook to help you identify your position.
There needs to be a mindset change if you wish to improve your financial position.
If nothing changes then nothing changes
You are welcome to call on 07 3848 1088 or us for these two excellent & free publications.email
John McAuliffe
Can you or your children play the cashflow game
Can you or your children play the cashflow game.
Can you or the family play the cashflow game originally created by “Rich Dad Poor Dad’ i.e. Robert Kiyosaki. It certainly is very relevant to anyone wishing to escape the ‘rat race’.
In fact ‘escaping the rat race’ is the objective of the game.
Hence as we commented when teaching the quadratic formula ‘nothing is as practical as a good theory’.
We read that the regulator has created a site with 26 ‘tools’ to help with the ‘National Financial Literacy Strategy’. Of course this won’t be advice as only advisers can give advice & who wants to give you advice. Remember the world’s oldest profession only gives ‘opinions’. Will this help you to ‘just do it’.
We will give you general advice now which is if you haven’t read ‘then Rich Dad Poor Dad’ do so today. Certainly when your children’s’ birthdays comes up we would strongly suggest buy them the book. If your son is engaged then buy the ‘bride’ the book. If you have read it then it is time to read it again. In fact we had Ashley who stated he didn’t put it down until he finished so it won’t take you long.
On reflection ‘MySchool’ should have a completed survey & statistics on who has read it. Maybe a copy should be delivered with the census papers shortly with a self assessment test included.
This is the general advice we have been giving since we first read the book 17 years ago. When you have finished that then our personal theme book also from Robert is his ‘The Cashflow Quadrant.’
Hence we are offering you and or your children the opportunity to play here The Cashflow 101 game created by Robert a decade ago. As above the objective of the game is to ‘escape the rat race’.
How do you know you have achieved this objective. The game is won by their definition when your passive income exceeds your expenses.
To quote Adrian who has also been running cashflow games.
‘You will experience the famous Cashflow 101 board game invented by Robert Kiyosaki, the NY Bestselling author of the Rich Dad series of books. Generate some financial insights that may be holding you back and get a money mindset shift.
CASHFLOW 101 is a simple yet profound educational board game that simulates real life financial strategies and situations. Similar to Monopoly, in this game where you buy property, shares and businesses. As a simulation, you learn valuable lessons and gain priceless insights into personal finance, business and investing without having to put your actual money at risk. This tool will transform the "money mind-set" of anyone who plays, whether they are new to financial information, or seasoned investors.
<Yes we did win at Adrian’s last event & our strategy was saving first, speculating on the share market & then purchasing a block of units which was according to the card ‘cashflow positive’. Our occupation card was a ‘nurse’.
As we were on the way to the game we spoke to Don who has apparently has saved his employer by his estimates 1.5m that a project manager would have charged. Don commented that where he has been working is under two body corporates. The shop & business body corporate has not enough funds in its ‘sinking fund’ to pay for the necessary work required after the flood.
The day before Tony who owns a bedroom unit in Spring Hill commented he had taken over as chairman of his body corporate. As that body corporate also had insufficient sinking funds then each unit owner is being asked to front up with 13,000 for each of the next 3 months. i.e. $39,000. As owners have complained Tony said ‘sell or go bankrupt’.
The cashflow game might suggest that then is the time for you to purchase as a distressed seller’.
The game might suggest that purchasing these ‘cashflow positive’ properties that we hear advertised today might be an error.
They are only cashflow positive as the governments are subsiding with about $110,000 over 10 years.
We wonder if in any projections by the developer there is any mention of ‘sinking funds’. Don suggested that many developments use a generalized sinking fund projection & not one for the specific block.
What does funding sinking funds do to your cashflow?
We will bet that there is no tool for sinking funds on the regulators site. How useful is that when a huge percentage have been attracted to cashflow negative property!
We also read this week that about a quarter of baby boomers aged 55 to 59 still have mortgages.
We find this amazing & wonder at the banks’ lending the money. The Banks must expect the mortgagees to work to they are 80.
Will the regulator look at the advice banks have provided to these boomers. Everyone seriously needs to look at their ‘mindset’ & their cashflow.
Enough!
We offer you and or your family the opportunity to learn to play the cashflow game.
Lets learn what Richard defines as an asset. Lets learn about building assets & improve your passive income.
We run games here every 3rd Saturday of the month from 9.30am until lunchtime.
You are welcome to call on 3848 1088, email us or book on our website. John McAuliffe
Can you or the family play the cashflow game originally created by “Rich Dad Poor Dad’ i.e. Robert Kiyosaki. It certainly is very relevant to anyone wishing to escape the ‘rat race’.
In fact ‘escaping the rat race’ is the objective of the game.
Hence as we commented when teaching the quadratic formula ‘nothing is as practical as a good theory’.
We read that the regulator has created a site with 26 ‘tools’ to help with the ‘National Financial Literacy Strategy’. Of course this won’t be advice as only advisers can give advice & who wants to give you advice. Remember the world’s oldest profession only gives ‘opinions’. Will this help you to ‘just do it’.
We will give you general advice now which is if you haven’t read ‘then Rich Dad Poor Dad’ do so today. Certainly when your children’s’ birthdays comes up we would strongly suggest buy them the book. If your son is engaged then buy the ‘bride’ the book. If you have read it then it is time to read it again. In fact we had Ashley who stated he didn’t put it down until he finished so it won’t take you long.
On reflection ‘MySchool’ should have a completed survey & statistics on who has read it. Maybe a copy should be delivered with the census papers shortly with a self assessment test included.
This is the general advice we have been giving since we first read the book 17 years ago. When you have finished that then our personal theme book also from Robert is his ‘The Cashflow Quadrant.’
Hence we are offering you and or your children the opportunity to play here The Cashflow 101 game created by Robert a decade ago. As above the objective of the game is to ‘escape the rat race’.
How do you know you have achieved this objective. The game is won by their definition when your passive income exceeds your expenses.
To quote Adrian who has also been running cashflow games.
‘You will experience the famous Cashflow 101 board game invented by Robert Kiyosaki, the NY Bestselling author of the Rich Dad series of books. Generate some financial insights that may be holding you back and get a money mindset shift.
CASHFLOW 101 is a simple yet profound educational board game that simulates real life financial strategies and situations. Similar to Monopoly, in this game where you buy property, shares and businesses. As a simulation, you learn valuable lessons and gain priceless insights into personal finance, business and investing without having to put your actual money at risk. This tool will transform the "money mind-set" of anyone who plays, whether they are new to financial information, or seasoned investors.
<Yes we did win at Adrian’s last event & our strategy was saving first, speculating on the share market & then purchasing a block of units which was according to the card ‘cashflow positive’. Our occupation card was a ‘nurse’.
As we were on the way to the game we spoke to Don who has apparently has saved his employer by his estimates 1.5m that a project manager would have charged. Don commented that where he has been working is under two body corporates. The shop & business body corporate has not enough funds in its ‘sinking fund’ to pay for the necessary work required after the flood.
The day before Tony who owns a bedroom unit in Spring Hill commented he had taken over as chairman of his body corporate. As that body corporate also had insufficient sinking funds then each unit owner is being asked to front up with 13,000 for each of the next 3 months. i.e. $39,000. As owners have complained Tony said ‘sell or go bankrupt’.
The cashflow game might suggest that then is the time for you to purchase as a distressed seller’.
The game might suggest that purchasing these ‘cashflow positive’ properties that we hear advertised today might be an error.
They are only cashflow positive as the governments are subsiding with about $110,000 over 10 years.
We wonder if in any projections by the developer there is any mention of ‘sinking funds’. Don suggested that many developments use a generalized sinking fund projection & not one for the specific block.
What does funding sinking funds do to your cashflow?
We will bet that there is no tool for sinking funds on the regulators site. How useful is that when a huge percentage have been attracted to cashflow negative property!
We also read this week that about a quarter of baby boomers aged 55 to 59 still have mortgages.
We find this amazing & wonder at the banks’ lending the money. The Banks must expect the mortgagees to work to they are 80.
Will the regulator look at the advice banks have provided to these boomers. Everyone seriously needs to look at their ‘mindset’ & their cashflow.
Enough!
We offer you and or your family the opportunity to learn to play the cashflow game.
Lets learn what Richard defines as an asset. Lets learn about building assets & improve your passive income.
We run games here every 3rd Saturday of the month from 9.30am until lunchtime.
You are welcome to call on 3848 1088, email us or book on our website. John McAuliffe
an amazing result
Good morning all,
As you are all aware our VIP Launch for Residences at Chatswood occurred over the weekend.
In an absolutely amazing result we sold 280 of 293 apartments in just eight hours on the Saturday with unprecedented demand from local and overseas purchasers.
As of this morning we have sold the remaining twelve apartments and now just one penthouse remains.
The good news is that given the result over the weekend the launch of stage two, the Grand building, is likely to be earlier than the expected September 2011 release date. We will keep you informed as more information comes to hand.
Congratulations to those who ha clients successfully secure an apartment or apartments in the first stage.
Kind regards,
As you are all aware our VIP Launch for Residences at Chatswood occurred over the weekend.
In an absolutely amazing result we sold 280 of 293 apartments in just eight hours on the Saturday with unprecedented demand from local and overseas purchasers.
As of this morning we have sold the remaining twelve apartments and now just one penthouse remains.
The good news is that given the result over the weekend the launch of stage two, the Grand building, is likely to be earlier than the expected September 2011 release date. We will keep you informed as more information comes to hand.
Congratulations to those who ha clients successfully secure an apartment or apartments in the first stage.
Kind regards,
What do you do?
What do you do?
Clive has asked us to provide the WIFM, the What’s in it for you? Or what is also known as the ‘elevator Speech’. I.e. explain what we do in the time we are in the lift.
We read in the Courier Mail today Soaring house prices may spark mortgage crisis
And again today House prices 'too high for cops, teachers' | The Australian
then 30+ % of Australians have a serious financial challenge on their hands.
They are as the recent floods have shown only a week or two away from real financial stress.
Very simply the traditional approach flogged by banks, governments, real estate agents & mums is due to topple over.
What direction can you go when we also read this week Australian home prices the world's most overvalued: The Economist | The Australian
There needs to be another strategy to help you escape the ‘rat race’.
The average battler say the above teacher & cop might be on 80,000 say
His taxx is 17,550 which leaves 62,450.
His mortgage of say 350K @ 7.25% interest only say is 25,375
Which means the family lives on not much
i.e. 37,075 which is reflected on their credit cards as a 15,000+ Dr.
Thus the spouse needs to earn 20K+ gross to support the image that they want.
We can change all those numbers but the result is still the same.
There must be a better way & there is if there is a wish & 25% + equity & a savings capacity of $10 per day & time to do so.
I.e. there is a strategy to have ‘the taxx man subsidise the debt’ over time without reducing but defining lifestyle. As required by everyone from the client to the regulators there is full transparency.
We have been coaching clients & monthly monitoring their cashflow since 1994 & in financial services since 1984.
We believe that we ‘are Not your average financial planner’ as we have 27 years of financial wisdom & cynicism to offer you. As an ex math’s teacher we are keen to help solve your financial problem. E.g. Mal has children younger than his grandchildren.
We are here to coach those so that they don’t waste 15K to 100k in taxx, so that they do have the option to retire in their ‘fatigued fifties’ to travel to the ‘view of the world’ if they wish.
Remember you need 1,000,000 to have in capital outside the house if you are not to 'live like a refugee'
You are welcome to call on 07 3848 1088 or email or visit our websites for a free meal to ‘break bread’.
You are welcome to learn ‘the cashflow game’ which we also run.
John McAuliffe
Clive has asked us to provide the WIFM, the What’s in it for you? Or what is also known as the ‘elevator Speech’. I.e. explain what we do in the time we are in the lift.
We read in the Courier Mail today Soaring house prices may spark mortgage crisis
And again today House prices 'too high for cops, teachers' | The Australian
then 30+ % of Australians have a serious financial challenge on their hands.
They are as the recent floods have shown only a week or two away from real financial stress.
Very simply the traditional approach flogged by banks, governments, real estate agents & mums is due to topple over.
What direction can you go when we also read this week Australian home prices the world's most overvalued: The Economist | The Australian
There needs to be another strategy to help you escape the ‘rat race’.
The average battler say the above teacher & cop might be on 80,000 say
His taxx is 17,550 which leaves 62,450.
His mortgage of say 350K @ 7.25% interest only say is 25,375
Which means the family lives on not much
i.e. 37,075 which is reflected on their credit cards as a 15,000+ Dr.
Thus the spouse needs to earn 20K+ gross to support the image that they want.
We can change all those numbers but the result is still the same.
There must be a better way & there is if there is a wish & 25% + equity & a savings capacity of $10 per day & time to do so.
I.e. there is a strategy to have ‘the taxx man subsidise the debt’ over time without reducing but defining lifestyle. As required by everyone from the client to the regulators there is full transparency.
We have been coaching clients & monthly monitoring their cashflow since 1994 & in financial services since 1984.
We believe that we ‘are Not your average financial planner’ as we have 27 years of financial wisdom & cynicism to offer you. As an ex math’s teacher we are keen to help solve your financial problem. E.g. Mal has children younger than his grandchildren.
We are here to coach those so that they don’t waste 15K to 100k in taxx, so that they do have the option to retire in their ‘fatigued fifties’ to travel to the ‘view of the world’ if they wish.
Remember you need 1,000,000 to have in capital outside the house if you are not to 'live like a refugee'
You are welcome to call on 07 3848 1088 or email or visit our websites for a free meal to ‘break bread’.
You are welcome to learn ‘the cashflow game’ which we also run.
John McAuliffe
We can't change what happened but we can change what happens next
We can't change what happened but we can change what happens next" is what we must learn from recent natural disasters. If we were lucky enough that it didn’t happen to us we must prepare ourselves in case it’s our turn next.
We have lived in Queensland for 30 years but we were born & raised & taught maths in Christchurch so we are a little tender at the moment. Hence our moment of introspection.
We read from Kate’s email ‘Had a text from Margaret and Joe. Their house is ruined. Not surprised as it was on the side of a rather steep hill. Joe lucky to escape - had just exited kitchen where everything came off walls. Margaret reckoned he could have been killed. Their kitchen is/was three levels up like sitting in a lighthouse. Rest of their family is OK. Not sure about Mark and does anyone know if Tim has left. I sent a text but no reply. Shaun did say Tim had been in the cathedral steeple two hours prior to earthquake. Also one of Betty’s four sons has been killed.>
However, from Jon we read ‘Everyone is good thanks, city is a b!!!!!!!!!!!y shambles tho.’
And from clients
Hey John,
Aren't you from around that neck of the woods? Hope you don't know anyone affected.
Bret
And we must thank all those who were concerned enough to call us to enquire.
When we reflect on Queensland events then we aren’t ‘out of the floods’ yet. We understand that the Wivenhoe dam levels are being reduced. Terry suggested they were to be reduced to 25% capacity when we under the impression that it was by 25%. We await clarification maybe from Julian from Townsville i.e. Wiki leaks who may have had his 15 minutes of fame.
Nick the senator who the Red Queen needs to have her flood levy passed has suggested flood insurance. The cover girl Anna who certainly raised her credibility during the floods commented that 7 years ago the disaster insurance premium was 200m & too dear. As with all insurance this is a frequent objection.
When we had a greater passion for life insurance 20 years ago we used the phrase-
‘You can dodge your responsibilities but you cannot dodge the consequences of dodging your responsibilities.’The ‘Black Swan’ book’s major theme was that very rare events have a disproportionate effect on all concerned. It is sometimes called ‘the butterfly effect’ where a butterfly fluttering in the Amazon jungle affects markets elsewhere.
So how do we change what happens next?One way maybe to list say 20 major but rare events that could happen to you & then do some preventative work.
This could be a ‘What if?’ list & we could all create a different list.
Lets suggest some
• What if the banks internet was down & there is no chance of cash for the week? Do you have that cash somewhere?
• What if as Kerryn found out recently you are now redundant. How does she service the negative cashflow on her ‘rental property’?
• What if oil goes much higher & fuel is much dearer. Is part of your super in oil or energy or resource funds or companies. What make & model is your car & do you ride a bike?
• What if you ‘run into a bus’ today & you have a mortgage & family. Do you have 1.5m Life cover. Does your spouse?
• What if as we have heard from Julie on Sunday & Sandra yesterday of sons in intensive care due to accidents.
• What if as at Tennyson the lights are still out. Will they have the switch board & lift needs in the basement in their next building?
• What if someone walks in & takes the work laptop as Julie also advised us on Sunday
• What if you need to contact that family or friend? Do you have all contact details.
• What if you can’t get your passport & wallet as they are buried in the Christchurch rubble or the Queensland flood. Do you have a photocopy?
• What if there was a smarter way to pay the mortgage. The Big boys don’t say & as Sel commented yesterday ‘they lie like rugs’.
• What if there was a world class health prevention story used by the WTA & other Olympians?
• What if as Damian knows your house is flooded. How do you minimise a next time?
• What if there was a way for the taxx man to subsidise your mortgage. May appreciated that summary.
• What if you could buy the top 300 companies & use 200+ funds in your own super & cheaper than a SMSF?
• What if your house was flooded or ‘quaked’ & you now have negative equity. Would you take on less debt next time.
• What if as in CHC * 80 per cent of the city is without water supply and * 40 per cent of the city has no power supply.
• What if your credit cards are too high & you can’t consolidate as your repayments have been irregular?
What if you could donate to the Salvos for the victims on https://www.salvationarmy.org.au/newdonation/donation.aspx?from=webhomeNZ
Hence the challenge is to do what Glenn suggested this week. I.e. save more which most are now doing & is reflected in lower retail sales.
We suggested previously that your super isn’t available for the ‘What ifs’? & hence there needs to be some other saving.
Lori suggested that ‘the housing market was horrible’ so selling your house is not an easy & it is an expensive option.
The big boys want your business but do they really care? Vaughan commented last Saturday that his industry fund performance was ‘crap’. We could create a ‘lemon list’ of bank & industry funds as others have. They are all emphasising costs but there is a bigger cost in the difference in performance. This difference could be huge.
We suggested to Sandra that most people need a financial tweak.
Welcome to call on 3848 1088 or book via our site or email info@wealthcoach.net.au
We promise you the meeting with a free lunch will be fruitful for you.
John McAuliffe
We have lived in Queensland for 30 years but we were born & raised & taught maths in Christchurch so we are a little tender at the moment. Hence our moment of introspection.
We read from Kate’s email ‘Had a text from Margaret and Joe. Their house is ruined. Not surprised as it was on the side of a rather steep hill. Joe lucky to escape - had just exited kitchen where everything came off walls. Margaret reckoned he could have been killed. Their kitchen is/was three levels up like sitting in a lighthouse. Rest of their family is OK. Not sure about Mark and does anyone know if Tim has left. I sent a text but no reply. Shaun did say Tim had been in the cathedral steeple two hours prior to earthquake. Also one of Betty’s four sons has been killed.>
However, from Jon we read ‘Everyone is good thanks, city is a b!!!!!!!!!!!y shambles tho.’
And from clients
Hey John,
Aren't you from around that neck of the woods? Hope you don't know anyone affected.
Bret
And we must thank all those who were concerned enough to call us to enquire.
When we reflect on Queensland events then we aren’t ‘out of the floods’ yet. We understand that the Wivenhoe dam levels are being reduced. Terry suggested they were to be reduced to 25% capacity when we under the impression that it was by 25%. We await clarification maybe from Julian from Townsville i.e. Wiki leaks who may have had his 15 minutes of fame.
Nick the senator who the Red Queen needs to have her flood levy passed has suggested flood insurance. The cover girl Anna who certainly raised her credibility during the floods commented that 7 years ago the disaster insurance premium was 200m & too dear. As with all insurance this is a frequent objection.
When we had a greater passion for life insurance 20 years ago we used the phrase-
‘You can dodge your responsibilities but you cannot dodge the consequences of dodging your responsibilities.’The ‘Black Swan’ book’s major theme was that very rare events have a disproportionate effect on all concerned. It is sometimes called ‘the butterfly effect’ where a butterfly fluttering in the Amazon jungle affects markets elsewhere.
So how do we change what happens next?One way maybe to list say 20 major but rare events that could happen to you & then do some preventative work.
This could be a ‘What if?’ list & we could all create a different list.
Lets suggest some
• What if the banks internet was down & there is no chance of cash for the week? Do you have that cash somewhere?
• What if as Kerryn found out recently you are now redundant. How does she service the negative cashflow on her ‘rental property’?
• What if oil goes much higher & fuel is much dearer. Is part of your super in oil or energy or resource funds or companies. What make & model is your car & do you ride a bike?
• What if you ‘run into a bus’ today & you have a mortgage & family. Do you have 1.5m Life cover. Does your spouse?
• What if as we have heard from Julie on Sunday & Sandra yesterday of sons in intensive care due to accidents.
• What if as at Tennyson the lights are still out. Will they have the switch board & lift needs in the basement in their next building?
• What if someone walks in & takes the work laptop as Julie also advised us on Sunday
• What if you need to contact that family or friend? Do you have all contact details.
• What if you can’t get your passport & wallet as they are buried in the Christchurch rubble or the Queensland flood. Do you have a photocopy?
• What if there was a smarter way to pay the mortgage. The Big boys don’t say & as Sel commented yesterday ‘they lie like rugs’.
• What if there was a world class health prevention story used by the WTA & other Olympians?
• What if as Damian knows your house is flooded. How do you minimise a next time?
• What if there was a way for the taxx man to subsidise your mortgage. May appreciated that summary.
• What if you could buy the top 300 companies & use 200+ funds in your own super & cheaper than a SMSF?
• What if your house was flooded or ‘quaked’ & you now have negative equity. Would you take on less debt next time.
• What if as in CHC * 80 per cent of the city is without water supply and * 40 per cent of the city has no power supply.
• What if your credit cards are too high & you can’t consolidate as your repayments have been irregular?
What if you could donate to the Salvos for the victims on https://www.salvationarmy.org.au/newdonation/donation.aspx?from=webhomeNZ
Hence the challenge is to do what Glenn suggested this week. I.e. save more which most are now doing & is reflected in lower retail sales.
We suggested previously that your super isn’t available for the ‘What ifs’? & hence there needs to be some other saving.
Lori suggested that ‘the housing market was horrible’ so selling your house is not an easy & it is an expensive option.
The big boys want your business but do they really care? Vaughan commented last Saturday that his industry fund performance was ‘crap’. We could create a ‘lemon list’ of bank & industry funds as others have. They are all emphasising costs but there is a bigger cost in the difference in performance. This difference could be huge.
We suggested to Sandra that most people need a financial tweak.
Welcome to call on 3848 1088 or book via our site or email info@wealthcoach.net.au
We promise you the meeting with a free lunch will be fruitful for you.
John McAuliffe
Whom do you trust?
Whom do we trust?
This is the question that all ask when they in fact buy anything. When we are considering any financial services then this question is even more relevant.
It was well summarised by ASIC when they "won' $60m from a global accounting firm for its auditing practices in a WA case that hit the headlines.
i.e. all parties dodged their responsibilities i.e. company directors, product manufacturers, auditors, research & regulators, advisers & clients.
We maybe could extend that further to maybe politicians, bankers & to the US Federal Reserve. Lets note that the US Fed is a private bank. You may be interested in the biggest scam in history.
We have read & heard from two different sources that two of the major banks had to borrow from the US Federal Reserve during the GFC.
Has that been reported in the mainstream media as surely it is of major concern?
We heard last week from Richard an architect that inspectors were going to the Wivenhoe dam to check if there were any cracks in the dam. The suggested reason this week is the rainy season isn’t over & so there is a need to release 25% to minimise flooding.
Maybe the media could confirm either way.
As we stated on our 60th birthday ‘daughters fib & the big boys lie.
We recall two statement from the recent past. ‘My father went back to the bank two days after depositing 750K & the bank adviser didn’t recognise him’.
And from a bank adviser who said ‘it was the worst year of his life’.
All the advertising that ‘industry funds’ do means they must be able to afford the advertising & they aren’t doing it for nothing.
Are they altruistic?
The question also asks do you trust yourself to do the financial make over required.
We viewed Extreme Makeover on Lifestyle where a couple were just buried emotionally & financially & mentally by their house & couldn’t sell it. The Extreme Makeover team solved it for them & sold for about 200K than they imagined was possible. The couple were just buried in the ‘trees’ & could not see a way out .
We recently helped a dentist who doesn’t do his own teeth.
As a past maths teacher we are here to maybe provide a solution to your problem.
Very simply we have been in financial services for 26 years & we have provided financial wisdom with integrity for all of those years.
Hence we offer as a first introduction to us a free meal here to 'break bread' & break the ice'.
We do provide most financial services & we are a member of two professional associations.
We are an authorised representative through a non aligned dealer group. This means to you that we have your interests first as we aren’t pushing an institutions products. All remuneration has to be declared & note this is a gross income before all expenses of any business.
Here to help you if & where we can & welcome to visit our websites or call 07 3848 1088 or email info@wealthcoach.net.au .
There are testimonials on our sites from happy clients.
John McAuliffe
This is the question that all ask when they in fact buy anything. When we are considering any financial services then this question is even more relevant.
It was well summarised by ASIC when they "won' $60m from a global accounting firm for its auditing practices in a WA case that hit the headlines.
i.e. all parties dodged their responsibilities i.e. company directors, product manufacturers, auditors, research & regulators, advisers & clients.
We maybe could extend that further to maybe politicians, bankers & to the US Federal Reserve. Lets note that the US Fed is a private bank. You may be interested in the biggest scam in history.
We have read & heard from two different sources that two of the major banks had to borrow from the US Federal Reserve during the GFC.
Has that been reported in the mainstream media as surely it is of major concern?
We heard last week from Richard an architect that inspectors were going to the Wivenhoe dam to check if there were any cracks in the dam. The suggested reason this week is the rainy season isn’t over & so there is a need to release 25% to minimise flooding.
Maybe the media could confirm either way.
As we stated on our 60th birthday ‘daughters fib & the big boys lie.
We recall two statement from the recent past. ‘My father went back to the bank two days after depositing 750K & the bank adviser didn’t recognise him’.
And from a bank adviser who said ‘it was the worst year of his life’.
All the advertising that ‘industry funds’ do means they must be able to afford the advertising & they aren’t doing it for nothing.
Are they altruistic?
The question also asks do you trust yourself to do the financial make over required.
We viewed Extreme Makeover on Lifestyle where a couple were just buried emotionally & financially & mentally by their house & couldn’t sell it. The Extreme Makeover team solved it for them & sold for about 200K than they imagined was possible. The couple were just buried in the ‘trees’ & could not see a way out .
We recently helped a dentist who doesn’t do his own teeth.
As a past maths teacher we are here to maybe provide a solution to your problem.
Very simply we have been in financial services for 26 years & we have provided financial wisdom with integrity for all of those years.
Hence we offer as a first introduction to us a free meal here to 'break bread' & break the ice'.
We do provide most financial services & we are a member of two professional associations.
We are an authorised representative through a non aligned dealer group. This means to you that we have your interests first as we aren’t pushing an institutions products. All remuneration has to be declared & note this is a gross income before all expenses of any business.
Here to help you if & where we can & welcome to visit our websites or call 07 3848 1088 or email info@wealthcoach.net.au .
There are testimonials on our sites from happy clients.
John McAuliffe