Property Investment, Success & Money | The Michael Yardney Podcast

How will the next five years unfold? That’s the question everyone is asking, isn’t it? What’s going to happen to my life, my health, my job or my business? And for many people listening to this podcast, they’re wondering what’s going to happen to our property markets and the value of my home and my investment properties. Of course, nobody knows for sure, the world seems to be in a state of chaos. While some of the parts of the world are experiencing a second wave of coronavirus, other poor parts of the world are experiencing extreme first wave. Add to this the state of flux of Australia’s trade relationships, the world’s geopolitical problems, and we are living in interesting times – aren’t we? But amongst this chaos in tune, there are some things that can be said about the next five years, some emerging trends, behaviours and opportunities that will flow from the various undulation is in our Australian demographic landscape and that’s what I’d like to talk about today with Simon Kuestenmacher. One of the themes of our regular discussions tends to be how demographics drive our markets – not just the property markets but business as well. Let’s start with the elephant in the room – clearly, we are going to have less immigration in the short-term. Immigration will slow in the short-term We’ll have fewer students, fewer tourists and fewer backpackers As soon as practical, the government will open the gates and encourage immigration as a way of increasing our GDP We shouldn’t forget that almost half of Australia’s population growth comes from natural increase, and an even bigger driver of demand are emerging trends, behaviours and opportunities flow from the various undulations in the demographic landscape. A breakdown of the different demographic groups: Kids – birth to late teens Learning – entering university, moving out of the parental home, becoming an adult Partnering – may stay in the inner-city (near jobs) with a partner Building – having children with a partner, real estate needs increase, need 3-4 bedrooms Easing – When you’re 55-64, in the later stages of a career, may be taking more time off Retiring – Even if they aren’t all retired, they have less of an influence on the workforce. Spending more time with grandchildren. Staying in home as long as they can. Aging – 80+ cohort, needs accessible property, needs to be located near medical facilities Which of these groups are going to change significantly and place an increasing demand on our resources? Teenagers - schools, sporting facilities 40 somethings – family, accommodation Retirees Because of their sheer size and stage in the life cycle, no generation will shape Australia more during the 2020s than millennials. Millennials were born between 1982 and 1999. This makes them aged 21 to 38, and they will be 31 to 48 by 2030. Millennials perfected the art of procrastination as they popularised the gap year, forgot to move out of the parental home, pursued education for much longer, settled for a partner much later in life, and pushed out buying their first home and birth of their first child into their mid-30s. Throughout the 2020s, this generation of procrastinators will follow in the footsteps of every generation before them and enter the family-formation and home-buying stage. As life pushes you forward, preferences change. Throw a newborn into the mix and even the hippest inner-city couple gives in and follows the suburban sirens Throughout the 2020s, millennials will leave their centrally locat­ed one or two-bedroom apartments and migrate to the suburbs or even regional centres in search of more bedrooms. They want an additional bedroom or two to bring up the kids and to work from home occasionally. How are millennials going to reshape suburbia? Due to COVID-19, reshaping will be more intense. Millennials will want to be able to walk or cycle to the basic functions of their lives within 20 minutes. Parents will want childcare available. May want to be able to cycle their kids to kindergarten. Public transport may be perceived as unsafe, so they will want infrastructure for safe and pleasant cycling and walking. Local neighbourhoods should be functional, beautiful, and child-friendly.  Who will move into the inner-city apartments left behind by the millennials?  Gen Z is a much smaller generation than the millennials, so there will be empty spots. Inner cities might be flat for a while and prices will go down. But that is temporary, because as soon as immigration fires up again, knowledge jobs that Australia is creating will cluster in the inner cities near other knowledge jobs. Conclusion:  Life will go on post Covid-19 and Australians will transition from one stage of the life cycle to another. Many will move from the bush to the city, some will move from the city centre to the city edge, pre-retirees will move between states, some may even be motivated to pursue the space and the serenity of low-density living in what they consider to be a contagion-free community. And that is surely the beauty and the opportunity of the lifestyle options on offer to those of us lucky enough to live in Australia. Links and Resources: Michael Yardney Simon Kuestenmacher - Director of Research at The Demographics Group In these challenging time why not get the team at Metropole to build you a personalised   Strategic Property Plan – this will help both beginning and experienced investors. Shownotes plus more here: The Shape of Things to Come with Simon Kuestenmacher Some of our favourite quotes from the show: “I can see this is going to revitalize our local shopping centres that were starting to die off for the big centres that became entertainment venues as well.” – Michael Yardney “I can’t see the government having any alternative but to push migration.” – Michael Yardney “Most wealthy people are self-made. They’ve actually achieved it.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how  

Are you interested in getting involved in the Brisbane property market? If so, today’s episode is just for you. But even if you aren’t interested in investing in the Brisbane property market yourself, considering that each state and city has its own nuances, the message that you’re going to hear from Brett Warren today will be useful to change and translate to the area where you want to invest. 10 things you must know before investing in Brisbane Where are the jobs being created? Demand will be stronger closer to major employment hubs and right now in Brisbane, there are 50,000 jobs being created between the CBD and the Airport. So, in Brisbane, stick to the 10km ring to encompass the CBD, Hospitals, and the Airport precincts. Suburbs within a school catchment will continue to attract a premium – 1) not all schools are equal and 2) do not just assume buying in a suburb gives you access to that school. Missing the catchment by a single house or street could mean a difference of $50,000, so it pays to get it right! So, paying slightly more to get into the right catchment will greatly benefit future growth. People are not wanting to move further out and away from the City – While accommodation is smaller, there needs to be more happening outdoors, think lifestyle and entertainment precincts, green space, and convenience. Walkscore can be an invaluable tool for this. Public Transport a MUST - Our roads will get busier – There is probably an 80/20 rule here in Brisbane for public transport. Inside the 10km ring there is an 80% chance of having some form of public transport, that drops to as low as 20% when you start getting out past the 15km to 20km ring. Moving forward, identifying a location close to a bus, train, or even ferry, will be critical as commute times balloon! Majority of new infrastructure projects are within 5km of the CBD – Brisbane is not as mature as Melbourne or Sydney. That maturity is maybe 10 or 15 years away. Flooding and Stormwater are common – There have been several major floods over the last century and while they generally only come along every 20 – 30 years, it still must be on your radar. Even more common though are Brisbane’s storms and stormwater runoff – overland flow. We may buy in most suburbs, but not in all parts of a suburb – To get wealth-producing levels of return, you need to not only buy in the best suburbs but in the best pockets of those suburbs Zoning is becoming critically important – You can’t necessarily pull down a house that would be past its use-by date in another city, and the agent won’t necessarily tell you that. Important to stick to areas that are already designed right The Rich will get richer over the next decade Brisbane is not Melbourne or Sydney – property outside will 10km will not catch up. Links and Resources: Michael Yardney Brett Warren - Metropole Property Strategists Metropole’s Strategic Property Plan – to help both beginning and experienced investors Shownotes plus more here: 10 Things Investors Must Understand Before Investing in Brisbane with Brett Warren Some of our favourite quotes from the show: “People come from other states, and they try to bring their local knowledge, how they would invest, how they would live in some of the other states to Brisbane, and it doesn’t really work.” – Michael Yardney “I think we’ve realized in the recent downturn, but in previous downturns as well, that some industries are more stable and others are more seasonal and more fickle.” – Michael Yardney “By the way don’t compare yourself with other people, because the things you see on Instagram and Facebook aren’t real.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how  

Money doesn’t care about what color, race, or class you are. It doesn’t care what your parents did or who you think you are. It doesn’t discriminate. And you have the same rights and opportunities as everyone else to make as much of it as you want. But the majority of Australians will never be financially independent. On the other hand, a small group of Australian investors and business owners are becoming very wealthy. Why is that? Most people complain they don’t have enough money. But the reality is that most people just don’t understand the rules of money. Today, I’m going to have a chat with Pete Wargent about how the rules of money have changed in this new era. 3 ways in which the rules of money have changed. Lower interest rates Interest rates will be stuck at the effective lower bound for years to come. Yields are also being pushed down further out along the curve, with the 3-year bond yield being a particularly important funding benchmark in Australia, so mortgage rates are also falling to the lowest level in history. Central banks and governments want you to go out and spend, invest, and build businesses, and incentives will be put in place for you to do so. Cash is dead  The cash economy was dying before 2020, but the shutdown effectively sounded the death knell for cash as a means of payment and exchange. The latest usage data showed that retail spend on credit cards is now actually higher year-on-year, and this in spite of the shutdown. Increasingly we pay for goods using plastic rather than physical currency in the form of notes or coins. This trend was well underway before 2020, but the shutdown has accelerated the death of the cash economy. Overcoming mental obstacles about money More than ever before, it’s important to be mindful and attentive towards your money, but it’s also critical to remove the silent mental obstacles towards growing your wealth and bank balance. As alluded to above, central banks are effectively creating new money at an unprecedented rate. With the growth of social media and online commentary, it’s become abundantly clear that many infer you can somehow only have more and become more at the expense or to the detriment of others. To be blunt if that’s your world-view, and how you view money and self-development, you’ll never sustainably be able to have more wealth. Money is, after all, inanimate; it does not and cannot care what you think of it. Links and Resources: Michael Yardney Metropole’s Strategic Property Plan – to help both beginning and experienced investors Pete Wargent  Next Level Wealth  Pete Wargent’s new book Low Rates High Returns Some of our favourite quotes from the show: “The way you become wealthy is by upgrading your wealth operating system; turning up your financial thermostat.” – Michael Yardney “You can’t have a scarcity mentality about it; you’ve actually got to think abundantly.” – Michael Yardney “Successful people don’t let setbacks set them back.” – Michael Yardney Shownotes plus more here: What You Must Understand About How the Rules of Money Have Changed with Pete Wargent PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how  

What will life be like when the COVID-19 crisis passes? What aspects will stay with us, and what will disappear? We’ve been thrust into a moment of rapid change, but most of us don’t like change. It makes us feel uncomfortable. We like a level of certainty about our future, health, and jobs, as well about the worlds of finance and property that most of us are interested in. But there are lessons in history that can provide us with valuable insights. In today’s episode, we’ll talk about some of the things that never change in a world that never stops changing. Successful investors and businesspeople need to be prepared for change but also understand the things that don’t change. So, by the end of today’s show, you’ll come out with some ideas about how to get some more certainty in these uncertain times. I’m also going to share a mindset moment from one of my mentors and have a chat with Ken Raiss about estate planning. Some things that never change in a world that never stops changing The things that never change are the most important things to pay attention to. However, change gets the most attention because it’s exciting, it’s surprising, it’s something that the media can comment on. You see…predicting the future is hard. Very few can do it. On the other hand, understanding what stays the same is very useful. Particularly in challenging times like we’re currently experiencing. Of course, I still have no idea what’s going to happen in the future, but I’m a little less surprised whatever does happen if I have a handful of assumptions that I can put my faith into to guide me moving forward. So, let’s look at some things that never change in a world that never stops changing. More people wake up every morning wanting to solve problems than wake up looking to cause harm. I’m an optimist and have faith in society, but I recognize that those with a negative message get more airplay in the media and incite negative sentiment in our community. Fact is… in life you get whatever you expect to get. The only question is, what do you want? If we were not optimistic, none of us would bother setting up a business, employing people, taking risks, or investing in property. If we were totally realistic about how often people fail, how often things go wrong, how most property investors never build a substantial property portfolio, we would never even bother getting started. Your outside world is a reflection of what’s happening inside your mind. So, feed it with positive, optimistic thoughts. The world breaks about once a decade. This is an interesting expression I learned from columnist Morgan Housel of the Collaborative Fund. But it’s true and there seem to be very few exceptions to this. There is a major disruption every decade or so. It could be an economic, political, military, or social issue. The bad news is never as bad as it sounds How many times does the end of the world as we know it need to arrive before we realise that it’s not the end of the world as we know it? Of course, those with a long-term perspective, who have lived through a number of economic shocks and property cycles, tend not to get as shocked when major events like we’re now experiencing hit us. However, those who have not experienced these types of shocks tend to worry more and imagine the worst because they have no perspective to rely on. This too shall pass Nothing too good or too bad stays that way forever. I’ve found these types of major upheavals are not as scary if you have the underlying belief that they’ll keep happening but that in the long term they don’t prevent the long-term growth of our economy and our property markets. History doesn’t really repeat itself. We’ve all heard it before - “History repeats itself!” It’s an inane statement that seems so wise on the surface but crumbles under serious scrutiny. Morgan Housel wisely said: “History is mostly the study of unprecedented events, which, ironically, we then use as a map for what could happen in the future.” Estate Planning with Ken Raiss Estate planning is something a lot of people don’t think about until it’s too late. But you want to be able to pass on your wealth in an efficient manner, and estate planning is crucial to your overall wealth plan. Some critical estate planning documents: A will – your will should be set up so that instead of passing on your assets to your beneficiaries directly, they’re passed on in a testamentary trust. This has tax benefits and helps to ensure that wealth remains in the family. Non-Estate Assets – You may need either a Binding Death Nomination or Superannuation Will in order to distribute superannuation funds. Enduring Power of Attorney – this document pass decision making authority onto another person in the event that you’re physically or mentally incapacitated. These documents can give authority that is as broad or as specific and narrow as necessary. Medical Power of Attorney – This document helps you to finalize your wishes in relation to things like organ donation. Personal Details – This is a non-legal document that can help you pass on things like account numbers, passwords, where to find policies and valuable items, information necessary for paying bills, subscription information, and so on. Links and Resources: In these challenging times why not get the team at Metropole to build you a personalised   Strategic Property Plan – this will help both beginning and experienced investors. Why not have a chat with Ken Raiss of Metropole Wealth Advisory Shownotes plus more here: It’s important to understand these things that never change in a world that never stops changing + Estate planning with Ken Raiss Some of our favourite quotes from the show: “In my mentorship program, I know that those people who write down their plans, write down their goals, and visualize them are much, much more likely to get them.” – Michael Yardney “Your reticular activating system is that part of your brain that cuts out all the surplus extraneous information that’s coming in and hones in. It’s your GPS.” – Michael Yardney “In summary, prepare for the inevitable by having somebody on your side preparing a number of documents, including a will.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

You’re probably here because you’re interested in property investment or money. But if you think about it, underlying that is success. You’re probably looking for more success in all areas of your life, and success depends on your ability to influence and communicate. That’s what we’re going to be talking about today. In today’s episode, I’m going to be talking with a very successful person Allan Pease, about the importance of body language. Body language is an important part of communication because so much communication happens in a nonverbal way. Allan also has a lot to say about success, and he has some thoughts on who will win the American presidential election based on the candidates’ language. The Beliefs that Guide Successful People Successful people believe in themselves. They know if they don’t believe in themselves, no one else will Successful people believe they’re in charge of their own life. They believe they’re the pilots of their own lives, not just a passenger. Believing you’re responsible for what you make of a situation is empowering. Successful people believe that there are opportunities everywhere. Because they look for opportunities, they find them. Successful people believe in doing things that no one else will. They take risks and are willing to try things that others won’t. They know if they want to be different, they have to do different things. Successful people believe that execution is critical. The power is not in the information, it’s in the action you take. Successful people believe in winning through hard work. Work comes first and the payoff comes later. Successful people believe in giving back. Giving back keeps successful people grounded, humble, and in touch with reality. Highlights from my conversation with Allan Pease Words only make up a small amount of communication. It’s your intonation, how you say things, and how your body is responding You use a different part of the brain for first impressions than for subsequent impressions People don’t buy from someone they don’t trust Body language tricks for Zoom calls You can do a few things on video calls that you can’t do in person, like staring “Just be natural” can be bad advice in a lot of cases It’s a good idea to film yourself so that you can see how you look to others The differences between how men and women communicate How deciding what you want to do helps you see how to do it Why people should listen to Allan’s seminar Who’s going to win the American presidential election Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Join Allan Pease at a free livestream in Australia on Friday 9th October – register here Shownotes plus more here: Success boosting body language tricks with Allan Pease Some of our favourite quotes from the show: “If you don’t believe in your own abilities if you don’t believe in your own potential, how can you expect anyone else to?” “Risk is very much in the investor, rather than in the commodity.” “You’ve really only got a short period right at the beginning to make a good impression.” PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

In today’s show, my guest, property researcher John Lindeman, is going to help you solve the property investment puzzle. Clearly, in today’s more uncertain environment, we know that some locations are best avoided, while others still deliver good capital growth or better rental returns. As a property investor, you need to understand which suburbs are going to deliver what you’re looking for at your stage of the investment journey. The problem is, the housing markets are like a huge jigsaw puzzle, with more than 10 million properties spread over 15,000 suburbs. It seems almost impossible with so many suburbs and so many properties – and that may be true since most investors don’t end up with the portfolio they want. So in today’s episode John Lindeman will divide all of the suburbs into four different groups. Once you understand which group the suburb you’re looking at falls into, you’ll understand whether it’s right for you or not. That, together with the other things I’ll discuss with John today will give you more results and clarity in this uncertain time. Then, I’m going to share with you some money lessons to teach your children. Don’t worry if you haven’t got children – these lessons are useful for you as well. 4 Categories of Suburbs  Sleepers – the majority of the suburbs. They create the median performance in the market Long Shots – speculative investment locations. These suburbs may have new infrastructure projects or other factors that could make them more profitable. They could pay off well or they could end up not growing well at all. Cash Cows – areas with high yields but limited growth. They can get you cash flow but are unlikely to give you growth. Shooting Stars – these are the suburbs that have it all, strong growth and cash flow. They’re the hardest to find, but they’re what investors should be looking for. To determine which category a suburb falls into, John looked into the different types of households in different areas. Lots of renters indicate cash cows, for example. Infrastructure projects, what the banks are doing, and whether they’re lending can also tell you what type of suburb you’re looking at. Money Lessons to Teach Your Children Today’s debt equals tomorrow’s slavery: Your children need to know is that today’s debt is robbing them of tomorrow’s earnings, because they’re sacrificing money they don’t yet have. He who dies with the most toys isn’t the victor: Possessions don’t make for a rich life, it’s the experiences and people – the things that money can’t buy – that make you truly wealthy. Take responsibility, and that will make you the master of your own destiny: The decisions that you make today are what will decide where you are tomorrow. The value of patience and waiting: Understand the difference between wants and needs and recognize that all the money you spend on those material items you just ‘had to have’ today, is less that you’ll have to fund your retirement with tomorrow. Luck is made through hard work: Truly successful people do the hard yards to reach the pinnacle of their chosen field or endeavor. You don’t need millions to achieve financial freedom: Financial freedom is not dependent on money itself, but on your relationship to it and the level of personal responsibility and fiscal discipline you’re prepared to exercise throughout life. Spend less than you earn and invest the rest: Aim to invest at least 10 percent of your earnings and the power of compounding will take care of the rest. Youth won’t last forever, so use it wisely: Start saving and investing early in life and you’re likely to secure your financial future. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us John Lindeman – Lindeman Reports Why not get John Lindeman’s Shooting Star Suburbs Report. Read John Lindeman’s article- The Property Investment Puzzle Solved Shownotes plus more here: The Property Investment Puzzle Solved with John Lindeman Some of our favourite quotes from the show: “This is not a social commentary, but it just seems to be a fact to me that the haves and have-nots are separating more and the current crisis that we’re going through has shown that up even more than normal.” – Michael Yardney “Really demographics is going to be one of the biggest factors of what makes some areas do better than others in the long term.” – Michael Yardney “Fact is, there’s no such thing as rich victims.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

You’re smart. You’ve made a few dollars. You’ve done what the financial books have told you. You’ve listened to the podcasts, you’ve gone to the websites. So why isn’t it working? Why aren’t you getting ahead? Maybe your emotions and expectations are getting in the way of good sense. Maybe you’re paying attention to the wrong people. We’ve all made mistakes with money, sometimes unknowingly, sometimes recklessly. We all have poor habits that hold us back. That’s what I’m going to talk to Tom Corley about today. We’ll chat about why smart people do stupid things with their money, and hopefully, by the end of the conversation, you’ll be more aware, and you won’t make those mistakes. 12 Reasons Why People Make Money Mistakes Ego – Ego-driven money decisions prevent you from managing whatever money you do have in a prudent manner. Emotion – Spending decisions that are based on spur of the moment emotions. Bias – Making money decisions that are not fact-based but, instead, ideologically-based. Ignorance – Not doing your homework. Taking uneducated risks could be Ego-based or Ignorance-based. Overthinking – Simple solutions are usually the correct solutions. Seeking more complicated solutions leads to chaos. Fear – Never make money decisions out of fear. An example would be liquidating investments during a downturn in the stock market. Stress – Studies have shown that stress reduces your IQ by 13%. Never make money decisions when you are under stress. Poor Decision-Making Habit – Making frequent poor decisions is a habit. There are a number of reasons why you make bad decisions: Ego, Emotions, Bias, Ignorance, Fear, Stress, Tired or Hungry, and Impairment. Desperate Decisions – These are decisions that you make from a position of weakness. They are typically the result of prior bad decisions and always forced upon you by some third party, such as a lender, government agency, credit card company, employer, spouse, family, or friends. Impulse – Making spur of the moment purchases. Related to emotion-based spending mistakes but could also be caused by Decision Fatigue. Externalities – Keep up with the Jones’s spending decisions are an example. Other reasons for making bad money decisions can be due to pressure from a spouse, family, friends, work colleagues, etc. Impatience – Making poor money decisions, such as liquidating investments during a downturn in the market can be fear-based or driven by a lack of patience. Making any major purchase without wanting to spend the time on doing your homework, is another example. Links and Resources: Tom Corley - Rich Habits Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get your own copy of our international bestseller Rich Habits Poor Habits Shownotes plus more here: Why Smart People do Stupid Things with Money with Tom Corley Some of our favourite quotes from the show: “The trouble today with social media is you’re seeing people’s highlight reels and it looks like their life’s really good. You don’t know all the hard work that they’ve done to get there.” – Michael Yardney “We’re not pointing the finger at people, we’re not saying look how bad you are. We’re saying, if you want to improve your financial position, what you should be doing is having a look at your habits.” –Michael Yardney “If you recognize some of these habits in yourself, maybe now’s the time to replace them with some good habits.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how.

When it comes to property investing are you a fox or a hedgehog? Is property investment an art or science? Maybe property investment isn’t what you should be spending your time on; maybe you should stick to your day job instead That’s what I discuss today with Stuart Wemyss. And then, in my mindset moment, I’m going to share with you why we’re not all created equal. You’ll get lots of great information from today’s show that will help you get more success in your investments. Why you might want to stick to your day job: You must take responsibility for your money, however, that doesn’t mean that you need to make all of the decisions Instead, you should have a team of experts who know how to make those decisions wisely and defer to them Looking for property in your own backyard isn’t really research. Investing isn’t a hobby, it should be approached as a business The hedgehog concept: This refers to a story about a hedgehog and a fox. The fox knows how to do one thing, but the hedgehog only knows one big thing. In other words, the hedgehog has the specialized knowledge that it needs to survive. Does it make sense for you to spend 10 hours a week making financial decisions that you don’t have specialized knowledge about? Or would your time be better spent advancing yourself in your chosen profession that you do have specialized knowledge of, and deferring the finance decisions to experts in that field? You may be very smart, but that isn’t necessarily a guarantee that you’ll make smart investment decisions. Your talents in one area might not translate to other areas, like finance What you need is a holistic team of experts who can advise you in your investment endeavors You should choose people who have not only done well in the short term but have kept their wealth over the long haul Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Stuart Wemyss – Prosolution Private Clients Stuart’s article referred to in the Podcast - Why you should stick to your day job Stuart’s Book – Rules of the Lending Game Shownotes plus more here: Maybe you should stick to your day job and not invest in property Some of our favourite quotes from the show: “Your investments should be boring so that the rest of your life can be exciting.” –Michael Yardney “Not only have we built wealth, but we’ve kept it, and I think that’s one of the important principles.” –Michael Yardney “If you’re listening to this in Australia or one of the other great countries that a lot of people listen to this podcast in, you’ve already won the lottery in life.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Today, we’re going to be talking about asset protection with Australia’s leading property tax strategist, Ken Raiss. Asset protection is the use of smart legal strategies to protect what’s yours. For instance, we’re going to discuss why people who own properties in their own names are putting themselves at risk, and why even homeowners, not just property investors, need to have asset protection strategies in place. Very few of us are taught about the importance of asset protection, yet smart investors look for ways to protect their assets from their creditors. Hopefully, after today’s show, you’ll have a bit more clarity about what you could be doing and should be doing to protect and keep your assets so that you can pass them on later. What is asset protection? Safeguarding your hard-earned assets from litigation whether eventually successful or not. Defending an action can be costly in time, money, and emotionally. The world is becoming increasingly litigious. Many people are seeing the easy road to financial security is to sue someone for their wealth. I have read that Australia is the 3rd most litigious society in the world. In these uncertain times and with no-cost legal services available many people are choosing to sue someone even if for greenmail – to get something just to go away. Why should we be concerned about it? There are many instances of both legitimate and unscrupulous litigations. We should all do the right thing and have appropriate insurances in place but sometimes this is just not enough for example: What do you say to people who believe this is just being paranoid? You have a car accident before paying your overdue registration and insurance due to a busy work week. Your house is underinsured and burns down and destroys the next-door neighbor’s property. You are up for the underinsured payment Your child illegally downloads music or videos. You take on a new job with increase occupational health and safety responsibilities. You become a director in a business. Sometimes you are called a director but not on the ASIC records. You are responsible for all tax obligations plus the normal director responsibilities I heard a story a few years ago when a thief while running from the police jumped a fence and fell into a hole that the homeowner had dug for the garden. The thief injured himself and sued the homeowner Safeguarding the family wealth for current use and to pass down to the next generation is not paranoid but prudent. The older you get the harder it is to rebuild so why risk the twilight years after a lifetime of hard work Typical Strategies and Mistakes Typically, people go and see their lawyer for these strategies, but the lawyer does not understand the accounting, taxation, and estate planning intricacies that all must be built into the final solution. I see many people who have transferred their assets to a trust which for investments is reasonable but there is a cost in relation to capital gains tax For property there is also the potential increase taxes in relation to land tax and the foreigner’s taxes if they have overseas relatives. They also ignore the impact on the family home. In a trust, they lose the main residence exemption and will be subject to land tax. You need an integrated approach that looks at the legal, taxation, accounting, estate planning and future changes to your life needs when looking at an appropriate strategy. We have seen many clients implement strategies, but the majority have only looked at one aspect of the total picture and have therefore left holes that can be exposed which reduces the overall effectiveness of the strategy. They have done the work to identify their concerns, have found a solution only to be let down in the execution. At Metropole Wealth Advisory we have four different strategies that can help people and in all cases, no taxes are triggered. You can also protect the family home and keep the main residence tax benefits in relation to CGT and land tax. The most appropriate of the four strategies is identified for your specific needs and as your life circumstances change, they can be modified. Each of the strategies build on a solid foundation looking at tax, accounting, estate planning future flexibility, and with the added benefit of adding a layer of asset protection for your family wealth in case of litigation. The benefit of the Metropole Wealth Advisory way is we look at all assets including the value of wealth in your trusts or companies. How Should People Go About Protecting their Assets Typically, these are ignored due to the tax implication but there are solutions when taking an integrated approach. The wealth in these structures is incorrectly perceived as being safeguarded. This is not the case if the tenant in an investment property sues or a customer sues a business. The value is protected if you are individually sued but the other risks within the structure can be greater. It is like the trojan horse, if the attacker is inside the gates they can strike. Links and Resources: Ken Raiss, director Metropole Wealth Advisory Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here In turbulent times like this why not get the team at Metropole on your side – find out more here Shownotes plus more here: The right and wrong way to protect your assets with Ken Raiss Some of our favourite quotes from the show: “Your assets, your personal assets, things you own, are at risk for other people taking them.” –Michael Yardney “The lawyer was right, legally. The accountant was right numbers-wise. The financial planner did the right thing. But the left hand doesn’t know what the right hand is doing.” – Michael Yardney “When things happen in life, things that we don’t like, we can either choose to see them as a problem or as a solution waiting to be discovered.” – Michael Yardney  PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Donald Trump is inarguably one of the most interesting personalities in the world today. Regardless of what you think of Donald Trump, you have to acknowledge that his decision to leave his highly successful day job as a property developer and run for President of the United States was gutsy. For years I used to watch him from afar, I’ve read his books, watched him on TV and I used to admire his supposed success. It’s very different today - now he provides me with a very different type of entertainment, but I also keep learning lessons from him – more recently lessons of what one shouldn’t be doing. Now before I get any hate mail, I want to acknowledge that what we’re going to discuss today is not a political statement of any kind. It’s just an observation of some life lessons you can learn from Donald Trump – some things you could start doing and some things you shouldn’t do to help you become more successful at whatever you choose. Because I think that if you sift through all the negativity on both sides and look deeper, you will find some amazing life lessons everyone will benefit from what I’m going to discuss in today’s episode of the monthly Build a Business, Not a Job podcast that I host with Mark Creedon, founder of Business Accelerator Mastermind. Donald Trump’s Terrible Success Lessons Like or loathe him, and there are very few people who sit on the fence, there’s no denying that the current President of the United States knows how to get people’s attention. As I explained in the main introduction I’m not going to talk about Donald Trump’s suitability to lead his country or the world – that’s not my area of expertise – but I think he’s provided a few lessons of what one could do and what one shouldn’t do if you want to be successful. We know he’s arrogant and Trump has been quoted as saying: “You know I’m, like, the smartest person” If you’re the smartest person in your team you’re in trouble “Nothing is easy – but who wants nothing?” For once this quote makes sense “I have never met a successful person that was a quitter, successful people never, ever give up.” “Always try and learn from other people’s mistakes, not your own – it is much cheaper that way!” ”If you hang around with losers you become a loser.” The corollary of this is that if you want to become successful, you should hang around with successful people. “I try to learn from the past, but I plan for the future by focusing exclusively on the present. That’s where the fun is.” Yesterday is past, and tomorrow is yet to come, so the only time that you actually have is the present. Use the moment to make smart and profitable decisions that will lead you towards success. Respect time as it is the most valuable resource available to you. “Sometimes, by losing a battle, you find a new way to win the war.” If you fail at something, remember it is only a natural process and perfection takes time. Once you fail, think of it simply as if you have discovered another path that does not lead to success. It does not mean that you are lost, it only means that you will probably choose the correct path the next time. “As long as you’re going to be thinking anyway, think big.” Leave “little thinking” for people who want to accomplish little things, but not you. Success begins with thinking big. “If you’re interested in balancing work and pleasure, stop trying to balance them. Instead, make your work more pleasurable.” It is important to love what you do. It is only logical that a person will be self-motivated and more likely to work harder at something they love. Loving what you do is thought to be the first factor toward making you successful at what you do. “What separates the winners from the losers is how a person reacts to each new twist of fate.” Change is one of the most essential and important parts of life, be it your private or professional life. It is not necessary that every individual plan will work for every different person. Winners are known to react positively to fateful situations while losers are known to panic and stall in the path. “Without passion, you don’t have energy; without energy, you have nothing.” One thing that remains common in most of the success stories is the unnatural and high levels of energy that people displayed when it came to pursuing their dreams. “Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you’re generally better off sticking with what you know. And the third is that sometimes your best investments are the ones that you don’t make.” Experience is the best teacher. It teaches you anything in such a way that you understand it very well. Some of the most valuable lessons are learned through past experiences. Links and Resources: Why not join Metropole’s Business Accelerator Mastermind Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs  Shownotes plus more here: Terrible Success Lessons From Donald Trump | Build a Business, Not a Job Podcast Some of our favourite quotes from the show: “You haven’t come so far just to come so far.” –Michael Yardney “You only fail if you think of it as failure, on the other hand, if you see it as just the normal, natural part of moving forward, you have a different outlook.” –Michael Yardney “You’ve actually got to stay positive, you’ve got to look for the good things that are happening there. That’s essential to get through the challenging time that we’ve got.” –Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how.