The following three projects recently listed by our Melbourne Residential Projects Team.
Each project offers its own unique appeal, below is a brief description of each;
1. 587-589 Elizabeth Street, Melbourne VIC
a. Boutique development of 55 apartments close to Queen Victoria Market, the University of Melbourne and the Royal Melbourne Hospital
b. Developed by Austgroup Holdings and designed by Architects Eat
c. Project due for commencement in December 2011 (so significant stamp-duty savings available now) and due for completion 18 months thereafter
d. One bedroom apartments 45m2 internal to 60m2 internal ($380,000 to $435,000)
e. Two bedroom apartments 53m2 internal to 68m2 internal ($390,000 to $560,000)
2. 457 Lygon Street, Brunswick East VIC
a. Boutique development of only 40 apartments all with storage and at least one car parking space, Upper Lygon is just a stones throw from the famous Italian Quarter
b. Contemporary five story building, open plan living, stone bench tops, reverse cycle air-conditioning and stainless steel European appliances
c. Architect is D’Orio Architects
d. One bedroom apartments 49m2 internal to 63m2 internal ($390,000 to $480,000)
e. One bedroom + study apartments 53m2 internal to 65m2 internal ($425,000 to $560,000)
f. Two bedroom apartments 67m2 internal to 79m2 internal ($550,000 to $620,000)
3. 26-38 Merri Parade, Northcote VIC
a. Development consists of 79 apartments and 14 town houses. Majority of apartments come with one car parking space.
b. All forms of transportation are a stones throw away. Also, a very unique offering for Parade residents with a Go Get Share Car available with zero joining and monthly fees for the first twelve months.
c. One bedroom apartments 39m2 internal to 51m2 external ($350,000 to $430,000)
d. Two bedroom apartments 76m2 internal to 84m2 external ($570,000 to $650,000)
e. Townhouses 121m2 internal to 183m2 external ($850,000 to $950,000)
Townhouse come with minimum one car space, most have two.
If you may be interested in any of the above projects
please do not hesitate to contact us on 07 3848 1088 or email
We would be very pleased to assist.
Kind regards,
John McAuliffe
Could this be you?
Could this be you?
Good afternoon John,
Well we have had our tax assessment come back from the accountant for the 2010 financials and we have an estimated bill of around $35k combined.
We aren't happy with the service we are getting from this accountant, and seemingly have to continue to pay ridiculous amounts of tax all the time. One needs to wonder why we are working so hard to continue to get slapped in the face by the tax man.
We have asked her on a number of occasions to give us guidance / advice on how to 'divert' our money from the ATO, but never get anything from her.
Before we sign off these assessments, we were hoping to have another accountant review our figures to see what they can come up with.
Do you know of any 'creative accountants' that could help us?
Thanks,
‘Ann’
Yes that to could be your challenge.
However accountants who are generally ‘compliant book keepers’ are very limited & are not creative in their advice. Buying cars or houses is frequently their safe option although they are now warming to super. Their suggestion of SMSF is frequently glib & you need a sizable amount to be considered.
However super has government risk & most people now want no advice with their super.
Very simply if you are earning a gross 100K then Taxx [‘Ann’ spells it differently] is 25,000.
Then if you have an average mortgage say 350,000K @ 7.2% interest only you pay another 25,000 without reducing your debt levels.
AND that leaves 50K to live on and you can’t.
No wonder house prices are falling& most know this by now. It is called a weak market by sellers & RE agents.
Of course as the workers are feeling the pinch then they are all going out to strike as they need more to live on.
It’s a vicious circle as we then have wages pushing up prices which suggests inflation later which means the gnomes in Martin place, the RBA, increases rates. Increasing rates pushes house prices down.
It also pushes share prices down which lowers the value of your retirement funds. Therefore you work longer and live on less.
Thanks heaps to the marginal voter & the ‘fence sitters’ in the House.
If you are a similar position as “Ann’ with 1 or more rental properties then are you any better off?
‘Ann’ earns say 150,000
Her negative cashflow from 3 ‘rental properties’ is say 30,000++
Hence taxable income is 120,000-
Her taxx = 32,351
Hence a net 87,649
Her mortgage is 460,000 & larger because her income is larger.
Hence interest only is 33,120 which feeds the bank but doesn’t reduce her home debt.
Which leaves 54,529 to live on which is 1049 per week.
We all need MORE that to live on as you know.
‘Ann’ can see that her lifestyle is no better off with 3 rental properties than a person on 100K with no rental properties.
However ‘Ann’ may not want to sell in this weak market & the 4% costs in doing so.
This shows that you need to be earning close to 150,000 if you have a rental property & to live.
If you are not earning this then what do you do.
Ann needs to let the taxx man subsidise her own home mortgage out west of here.
That reduces the total take that the taxx man & the bank take from her.
How do you qualify for such a solution?
If you have a LVR less than 70%, you can save $10 per day or 3k p.a. and don’t want to be subsidising the pension with your super and have a ‘positive’ risk profile.
then you are welcome to call 07 3848 1088 or email or visit our websites.
You might do so before June 30th although our options are limited by the time frame.
Give us time & we will [may] have a solution for you.
John McAuliffe
Good afternoon John,
Well we have had our tax assessment come back from the accountant for the 2010 financials and we have an estimated bill of around $35k combined.
We aren't happy with the service we are getting from this accountant, and seemingly have to continue to pay ridiculous amounts of tax all the time. One needs to wonder why we are working so hard to continue to get slapped in the face by the tax man.
We have asked her on a number of occasions to give us guidance / advice on how to 'divert' our money from the ATO, but never get anything from her.
Before we sign off these assessments, we were hoping to have another accountant review our figures to see what they can come up with.
Do you know of any 'creative accountants' that could help us?
Thanks,
‘Ann’
Yes that to could be your challenge.
However accountants who are generally ‘compliant book keepers’ are very limited & are not creative in their advice. Buying cars or houses is frequently their safe option although they are now warming to super. Their suggestion of SMSF is frequently glib & you need a sizable amount to be considered.
However super has government risk & most people now want no advice with their super.
Very simply if you are earning a gross 100K then Taxx [‘Ann’ spells it differently] is 25,000.
Then if you have an average mortgage say 350,000K @ 7.2% interest only you pay another 25,000 without reducing your debt levels.
AND that leaves 50K to live on and you can’t.
No wonder house prices are falling& most know this by now. It is called a weak market by sellers & RE agents.
Of course as the workers are feeling the pinch then they are all going out to strike as they need more to live on.
It’s a vicious circle as we then have wages pushing up prices which suggests inflation later which means the gnomes in Martin place, the RBA, increases rates. Increasing rates pushes house prices down.
It also pushes share prices down which lowers the value of your retirement funds. Therefore you work longer and live on less.
Thanks heaps to the marginal voter & the ‘fence sitters’ in the House.
If you are a similar position as “Ann’ with 1 or more rental properties then are you any better off?
‘Ann’ earns say 150,000
Her negative cashflow from 3 ‘rental properties’ is say 30,000++
Hence taxable income is 120,000-
Her taxx = 32,351
Hence a net 87,649
Her mortgage is 460,000 & larger because her income is larger.
Hence interest only is 33,120 which feeds the bank but doesn’t reduce her home debt.
Which leaves 54,529 to live on which is 1049 per week.
We all need MORE that to live on as you know.
‘Ann’ can see that her lifestyle is no better off with 3 rental properties than a person on 100K with no rental properties.
However ‘Ann’ may not want to sell in this weak market & the 4% costs in doing so.
This shows that you need to be earning close to 150,000 if you have a rental property & to live.
If you are not earning this then what do you do.
Ann needs to let the taxx man subsidise her own home mortgage out west of here.
That reduces the total take that the taxx man & the bank take from her.
How do you qualify for such a solution?
If you have a LVR less than 70%, you can save $10 per day or 3k p.a. and don’t want to be subsidising the pension with your super and have a ‘positive’ risk profile.
then you are welcome to call 07 3848 1088 or email or visit our websites.
You might do so before June 30th although our options are limited by the time frame.
Give us time & we will [may] have a solution for you.
John McAuliffe
Money Flow Workshop (Cashflow 101) (Sat 18/6/11)
Money Flow Workshop (Cashflow 101) (Sat 18/6/11)
Valued at $97, The famous Cashflow 101 board game by Robert Kiyosaki is used to create learning outcomes that make a difference to the financial mindset of participants.
Of course, there is the opportunity to network with like minded people!
Whether you are a novice or an experienced player or a successful business owner, there is someone for you to meet and a lesson to be learnt.
Meet business owners, entrepreneurs and investors.
TEENAGERS Welcome! Let's start them thinking right young.
Benefits of attending:
• Walk Away With Deep Distinctions on HOW Money Flows!
• Get the 4 Steps to Money Flow as a Framework to take Action
• Network with like minded people and form connections.
• Use Cashflow 101 interactively with people and have an amazing experience (as opposed to clicking a button)
o Cashflow 101 is an advanced board game better than Monopoly where you get to buy shares, property and businesses.
o You will learn the FLOW of MONEY because of it's interactive nature!
• Learn from each other's experiences and lock in your learning.
• WIN some great PRIZES.
• Light refreshments are provided.
• Networking Display Table
o Place your Business Cards/brochures to share your goods/services.• Please BRING: Pencil, Eraser & Calculator
testimonials can be found at:http://www.youtube.com/WealthCatalyst
e.g. http://www.youtube.com/watch?v=fTxD8t4gG84
Tickets are valued at $97 but only $30 when you register,
thanks to the sponsor John McAuliffe of WeCoachWealth
Sorry NO tickets at the door.
Group discounts are available and encouraged! Tell your friends, bring your team and invite newbies!
Start time: 1:30pm 100pm doors open Finish 4:30pm
There will be more instruction and familiarisation with the game and how to get out of the rat race.
We will go through the Opportunity Cards, the Worksheet, The bank account sheet and some basics of the game
Venue: Salisbury Bowles Club, 37 Ainsworth St, Salisbury
Cashflow 101 will be used to create learning outcomes that make a difference to the financial mindset of participants
More information or any Questions call John McAuliffe on 3848 1088
John McAuliffe of WeCoachWealth P / L
www.wecoachwealth.com.au http://wealthcoach.net.au
Valued at $97, The famous Cashflow 101 board game by Robert Kiyosaki is used to create learning outcomes that make a difference to the financial mindset of participants.
Of course, there is the opportunity to network with like minded people!
Whether you are a novice or an experienced player or a successful business owner, there is someone for you to meet and a lesson to be learnt.
Meet business owners, entrepreneurs and investors.
TEENAGERS Welcome! Let's start them thinking right young.
Benefits of attending:
• Walk Away With Deep Distinctions on HOW Money Flows!
• Get the 4 Steps to Money Flow as a Framework to take Action
• Network with like minded people and form connections.
• Use Cashflow 101 interactively with people and have an amazing experience (as opposed to clicking a button)
o Cashflow 101 is an advanced board game better than Monopoly where you get to buy shares, property and businesses.
o You will learn the FLOW of MONEY because of it's interactive nature!
• Learn from each other's experiences and lock in your learning.
• WIN some great PRIZES.
• Light refreshments are provided.
• Networking Display Table
o Place your Business Cards/brochures to share your goods/services.• Please BRING: Pencil, Eraser & Calculator
testimonials can be found at:http://www.youtube.com/WealthCatalyst
e.g. http://www.youtube.com/watch?v=fTxD8t4gG84
Tickets are valued at $97 but only $30 when you register,
thanks to the sponsor John McAuliffe of WeCoachWealth
Sorry NO tickets at the door.
Group discounts are available and encouraged! Tell your friends, bring your team and invite newbies!
Start time: 1:30pm 100pm doors open Finish 4:30pm
There will be more instruction and familiarisation with the game and how to get out of the rat race.
We will go through the Opportunity Cards, the Worksheet, The bank account sheet and some basics of the game
Venue: Salisbury Bowles Club, 37 Ainsworth St, Salisbury
Cashflow 101 will be used to create learning outcomes that make a difference to the financial mindset of participants
More information or any Questions call John McAuliffe on 3848 1088
John McAuliffe of WeCoachWealth P / L
www.wecoachwealth.com.au http://wealthcoach.net.au
Are you coming to learn the Cashflow 101 game
As ‘there is nothing as practical as a good theory’ then now maybe the time for you or the kids to learn this game.
It was created by ‘Rich Dad Poor Dad’ Robert Kiyosaki who wrote several books & all sold in the millions. There may be one in your family bookshelf.
This game is suitable for those who wish to ‘escape the rat race’ and in particular
• Those with mortgages or
• Those who are starting out in their financial journey or
• Those who are struggling financially or
• Those who are concerned about their next financial step or
• Those who want to address their finances before June 30 or
• Those who want to understand cashflow or
‘six billion stories & counting’
Your opportunity to learn this game is on
Saturday June 11th @ 1.30pm to 4.15pm
@ Salisbury Bowls Club 37 Ainsworth St, Salisbury
Prizes will be awarded to the first 3 who ‘escape the rat race’
Your investment [$30]* & no tickets will be sold at the door
Contact John McAuliffe today on 3848 1088
Or email info@wealthcoach.net.au
*discounts for couples or pairs.
As ‘there is nothing as practical as a good theory’ then now maybe the time for you or the kids to learn this game.
It was created by ‘Rich Dad Poor Dad’ Robert Kiyosaki who wrote several books & all sold in the millions. There may be one in your family bookshelf.
This game is suitable for those who wish to ‘escape the rat race’ and in particular
• Those with mortgages or
• Those who are starting out in their financial journey or
• Those who are struggling financially or
• Those who are concerned about their next financial step or
• Those who want to address their finances before June 30 or
• Those who want to understand cashflow or
‘six billion stories & counting’
Your opportunity to learn this game is on
Saturday June 11th @ 1.30pm to 4.15pm
@ Salisbury Bowls Club 37 Ainsworth St, Salisbury
Prizes will be awarded to the first 3 who ‘escape the rat race’
Your investment [$30]* & no tickets will be sold at the door
Contact John McAuliffe today on 3848 1088
Or email info@wealthcoach.net.au
*discounts for couples or pairs.
Does your money bat for the other side?
Does your money bat for the other side?Yes you have 5 weeks to act & do something with your hard earned cash.
I.e. what are you doing before the end of the financial year to not pay out any more than you need to Black Duck & the ATO.
Yes it was suggested that maybe go out & get a new Ute & maybe collect a 5K rebate from the ATO.
It is often suggested to go out & prepay all your future deductible expenses or increase your vehicle costs & increase your novated lease.
You might want to prepay your ‘negative cashflow rental property’ loan but that can lock you in for another year.
We only heard on Wednesday from a fund manager who manages 3.5 Billion that they have a careful watch on such properties.
We heard this month from Jon who has been in Real Estate for 30 years that properties in his area are down 10-15%. Maybe you might want to sell now.
We have previously suggested that the baby boomers are retiring & find the 10K negative cashflow rental property’ a big negative on their relationship with the spouse.
But will these increase your capital for retirement?
Let’s face it the government is now suggesting that 500,000 is an objective for retirement capital which does suggest that you can survive on 25k or 500per week. Yes you might but it is survival only & you Have worked harder to deserve more than that.
True to form the government has yet to define when this 500,000 is to be benchmarked.
However the trade minister confirmed the view in Canberra that superannuation represented the budget's biggest single tax deduction.
It’s fairly simple why this is so. I.e. if you earn over 37,000 then paying 15% taxx on your super beats paying your marginal rate of 30% or more.
Of course if your spouse earns less than that then it makes no sense to pay into her super. However you could claim a spouse rebate which means no upfront 15% taxx or if you can split your supers.
It all depends where you are financially. If your debt is paid off then congratulations but now you have the challenge to fund the 1,000,00 that you need.
Will pouring 25,000 over the balance of your working live into your super achieve your retirement need. It will help & if you are over 50 then you have a year to salary sacrifice to 50,000.
The other side are all about that theirs is lower than yours. I.e. they are talking costs on their super funds. As a contemporary asked us last Wednesday
‘Where do they get the 18m to advertise?’ such lines.
It’s not often we say that lowest costs are best. Just check out your house or car or the diamond ring or the school your family goes to.?
Lets recall that you get what you pay for. When we talked to Adam on Thursday he believed his super was doing a good job.
He hadn’t looked at the website with its funds returns. We would suggest that there are many fund lemons out there not achieving what you hoped for.
It may be time to review your super & we are non-aligned as work for you. Have you looked at your bank fund returns closely?
Of course you could still have the average debt which frequently means you will have a debt on retirement. Then if you can access your super you use that to pay down your debt which means for you that you live on maybe a lot less.
This is certainly one risk i.e. government legislation which can easily change the rules.
We do have 13 different super strategies alone & you are welcome to contact us for the PDF file.
There is another way & it is our PCMS personal cashflow management strategy. This is particularly tailored for those with a high debt level & earning over 100K.
You are welcome here for an introduction to this strategy. May listened when we described the strategy ‘as the taxx man subsidising the debt’ & even more so when we added ‘ it was cashflow neutral’.
It’s action time & there are alternative strategies depending where you are financially.
We offer more than most & why not a free meal here to take the 1st step.
We promise not to waste your time as we hate waste as you have worked too hard for your money.
John McAuliffe
I.e. what are you doing before the end of the financial year to not pay out any more than you need to Black Duck & the ATO.
Yes it was suggested that maybe go out & get a new Ute & maybe collect a 5K rebate from the ATO.
It is often suggested to go out & prepay all your future deductible expenses or increase your vehicle costs & increase your novated lease.
You might want to prepay your ‘negative cashflow rental property’ loan but that can lock you in for another year.
We only heard on Wednesday from a fund manager who manages 3.5 Billion that they have a careful watch on such properties.
We heard this month from Jon who has been in Real Estate for 30 years that properties in his area are down 10-15%. Maybe you might want to sell now.
We have previously suggested that the baby boomers are retiring & find the 10K negative cashflow rental property’ a big negative on their relationship with the spouse.
But will these increase your capital for retirement?
Let’s face it the government is now suggesting that 500,000 is an objective for retirement capital which does suggest that you can survive on 25k or 500per week. Yes you might but it is survival only & you Have worked harder to deserve more than that.
True to form the government has yet to define when this 500,000 is to be benchmarked.
However the trade minister confirmed the view in Canberra that superannuation represented the budget's biggest single tax deduction.
It’s fairly simple why this is so. I.e. if you earn over 37,000 then paying 15% taxx on your super beats paying your marginal rate of 30% or more.
Of course if your spouse earns less than that then it makes no sense to pay into her super. However you could claim a spouse rebate which means no upfront 15% taxx or if you can split your supers.
It all depends where you are financially. If your debt is paid off then congratulations but now you have the challenge to fund the 1,000,00 that you need.
Will pouring 25,000 over the balance of your working live into your super achieve your retirement need. It will help & if you are over 50 then you have a year to salary sacrifice to 50,000.
The other side are all about that theirs is lower than yours. I.e. they are talking costs on their super funds. As a contemporary asked us last Wednesday
‘Where do they get the 18m to advertise?’ such lines.
It’s not often we say that lowest costs are best. Just check out your house or car or the diamond ring or the school your family goes to.?
Lets recall that you get what you pay for. When we talked to Adam on Thursday he believed his super was doing a good job.
He hadn’t looked at the website with its funds returns. We would suggest that there are many fund lemons out there not achieving what you hoped for.
It may be time to review your super & we are non-aligned as work for you. Have you looked at your bank fund returns closely?
Of course you could still have the average debt which frequently means you will have a debt on retirement. Then if you can access your super you use that to pay down your debt which means for you that you live on maybe a lot less.
This is certainly one risk i.e. government legislation which can easily change the rules.
We do have 13 different super strategies alone & you are welcome to contact us for the PDF file.
There is another way & it is our PCMS personal cashflow management strategy. This is particularly tailored for those with a high debt level & earning over 100K.
You are welcome here for an introduction to this strategy. May listened when we described the strategy ‘as the taxx man subsidising the debt’ & even more so when we added ‘ it was cashflow neutral’.
It’s action time & there are alternative strategies depending where you are financially.
We offer more than most & why not a free meal here to take the 1st step.
We promise not to waste your time as we hate waste as you have worked too hard for your money.
John McAuliffe
do you have an extended or blended family?
Do you have a Extended or Blended family?
Let’s face it nearly half of all families are blended as close to half of all marriages & partnerships split up.
Let’s take up one scenario which we know of and it is a simple & common scenario.
It was now way back in 1986 when markets were positive & there was no such thing as compulsory superannuation or SGC. ‘Colin’ who was earning enough to have to pay taxx & wanted retirement benefits for the future took out a superannuation plan. This was deductible & it had life cover on it to cover his mortgage & to provide something for his family. He nominated his wife as beneficiary on 2 policies.
All good so far.
However as it happened & we all can get too hard to live with there was a split 10 years later & a subsequent divorce.
As ‘Colin’ needed a kindred spirit he found another partner. Is that uncommon? As his three children were still at school or needed financial assistance then he contributed to his ex spouse over another 10 years.
But just this year ‘Colin’ took his last puff. He still had his original will made out to his ex & family. He hadn’t changed his beneficiaries to his new partner or changed it in anyway.
Thus his executors who aren’t professional & don’t do this more than once have to decide all this. If it was too hard for ‘Colin’ then what chances are that they get it right.
If you are the executor of a will have you researched into what your responsibilities are.
If the funds do go to his adult children then they will be taxed at 15% or 30% on the lump sum as now non dependant. At least there is adequate money to distribute which may not be the case in your union fund. ‘Colin’ elected not to opt in for advice & hence the family suffers the consequences.
This is a simple & common scenario but there are many more.
What if as happens ‘Colin’ has a child to the new lady. How common is that? What does the executor or the trustee of a super fund do then?
We had ‘Norman’ here recently. He has, as does a neighbour, children younger than his grandchildren. How extended is that? He has assets & a business with debt on it. Yes he does have life cover but the above questions still apply.
Then there is ‘Anthony’ who is one of many on his 3rd marriage. Who does he leave his legacy to? Is it his spouse or his grandchildren or a charity. It’s his choice but if he hasn’t actioned an estate plan then who knows & at what cost to solve the challenge.
An estate plan can be a simple or as technically difficult as the law can be. Hence a simple step is a meeting to look at the simple basics & the next steps to take such as
‘Dying without a will is courting chaos: claims against your estate’
Wills ensure you have the last word: properly drafted wills
Prevention is always easier today than after the event. We aren’t members of the 1st profession but financial planners who first consider the holistic picture. We can direct you to our estate partners.
Then there is this ‘death or serious illness can create huge problems for self-managed funds’
‘ a common characteristic of high-net-worth individuals seems to be that they're more than happy to seek, and pay for, good quality advice’
We welcome your call on 07 3848 1088 or email or our websites
John McAuliffe
Let’s face it nearly half of all families are blended as close to half of all marriages & partnerships split up.
Let’s take up one scenario which we know of and it is a simple & common scenario.
It was now way back in 1986 when markets were positive & there was no such thing as compulsory superannuation or SGC. ‘Colin’ who was earning enough to have to pay taxx & wanted retirement benefits for the future took out a superannuation plan. This was deductible & it had life cover on it to cover his mortgage & to provide something for his family. He nominated his wife as beneficiary on 2 policies.
All good so far.
However as it happened & we all can get too hard to live with there was a split 10 years later & a subsequent divorce.
As ‘Colin’ needed a kindred spirit he found another partner. Is that uncommon? As his three children were still at school or needed financial assistance then he contributed to his ex spouse over another 10 years.
But just this year ‘Colin’ took his last puff. He still had his original will made out to his ex & family. He hadn’t changed his beneficiaries to his new partner or changed it in anyway.
Thus his executors who aren’t professional & don’t do this more than once have to decide all this. If it was too hard for ‘Colin’ then what chances are that they get it right.
If you are the executor of a will have you researched into what your responsibilities are.
If the funds do go to his adult children then they will be taxed at 15% or 30% on the lump sum as now non dependant. At least there is adequate money to distribute which may not be the case in your union fund. ‘Colin’ elected not to opt in for advice & hence the family suffers the consequences.
This is a simple & common scenario but there are many more.
What if as happens ‘Colin’ has a child to the new lady. How common is that? What does the executor or the trustee of a super fund do then?
We had ‘Norman’ here recently. He has, as does a neighbour, children younger than his grandchildren. How extended is that? He has assets & a business with debt on it. Yes he does have life cover but the above questions still apply.
Then there is ‘Anthony’ who is one of many on his 3rd marriage. Who does he leave his legacy to? Is it his spouse or his grandchildren or a charity. It’s his choice but if he hasn’t actioned an estate plan then who knows & at what cost to solve the challenge.
An estate plan can be a simple or as technically difficult as the law can be. Hence a simple step is a meeting to look at the simple basics & the next steps to take such as
‘Dying without a will is courting chaos: claims against your estate’
Wills ensure you have the last word: properly drafted wills
Prevention is always easier today than after the event. We aren’t members of the 1st profession but financial planners who first consider the holistic picture. We can direct you to our estate partners.
Then there is this ‘death or serious illness can create huge problems for self-managed funds’
‘ a common characteristic of high-net-worth individuals seems to be that they're more than happy to seek, and pay for, good quality advice’
We welcome your call on 07 3848 1088 or email or our websites
John McAuliffe
Traits that make you filthy rich.
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
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