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
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
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