[Podcast] Learn These Rich Habits of Successful People | Rich Habits, Poor Habits Podcast, Part 1 with Tom Corley

Have you ever wondered how certain people become so rich and successful?

Well, if you’ve been listening to my podcast or reading my blogs and my books, you’d know that rich people don’t become rich by luck or by accident.

Becoming rich requires hard work, dedication, and a certain set of habits. We are what we repeatedly do.

That means excellence isn’t an act, it’s a habit.

My friend Tom Corley spent five years studying millionaires and gathering insights that become the basis of his blogs and books, including the book we co-authored: Rich Habits, Poor Habits.

He found that people who became wealthy practiced certain habits, and that’s what we’re going to discuss today.

Since there are so many habits, we’re going to break this into a two-part series, and today we’re going to start with the first group of habits that the rich do that differentiate them … Read more

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What on earth is going on with Australian property prices?!

Our property markets are in the headlines every day, aren’t they?

While many commentators are calling our current property market a “boom”, some are already suggesting we in a “property bubble”.

Just look at how the economists from all our major banks have now done an about-face and agree that we’re in for strong property markets for the next few years.

In fact, they seem to be outdoing each other to see who can come up with the most upbeat price increase forecasts.

Six per cent gains? How about 8 per cent? No, it will be double-digit growth.

CBA suggested 16 per cent property price growth over the next two years.

Now Westpac went one better and forecast 20 per cent price growth over the next 2 years.

So to get a better understanding of what’s ahead for our property markets let’s do a little Q&A:

What’s the difference between

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Tips for choosing the right investment property

The COVID-19 pandemic has changed the way we work, live, and certainly how we invest in property.

The current market presents a unique opportunity for savvy investors to purchase their first or next investment property.

Sure property values are surging, but we are only at the beginning of a new property and economic cycle, a time when lifetime wealth will be created by a group of strategic property investors.

But I warn you, not all properties make good investments, which means that many new investors won’t benefit – this time or rising tide won’t lift all ships.

It’s not simply a case of picking a property and renting it out – sure you could do that but that doesn’t make particularly good investment sense, as not all properties are “investment grade” – ones that will provide you with wealth-producing rates of return.

The fact is if you want to be … Read more

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Identity theft is costing Aussies $3.1 billion in one year alone

Identity theft is costing Australians billions of dollars a year according to a recent analysis by Finder.

Finder’s analysis of data released by the Australian Institute of Criminology (AIC) has revealed that the cost of identity crime in Australia reached a staggering $3.1 billion in 2019, a substantial 17% increase from 2016.

Approximately one in four Australians (25%) has experienced misuse of personal information at some time in their lives, and, on average, identity crime victims lose $300 per incident.

The types of personal information most at risk include someone’s name, credit card details, bank account information, address, and date of birth.

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Beyond the financial consequences, having your identity stolen can lead to refusal of credit, refusal of government benefits, or even being wrongfully accused of a crime.

Taylor Blackburn, personal finance specialist at Finder, urged Australians to alert their bank to any suspicious activity … Read more

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Just because land is good, does that mean more land is better?

When you buy a property, what part of the purchase increases in value?

It is the land of course.

It is the question that almost every property investor I speak with understands without hesitation.

So, if land is a critical component for successful investing, why not maximise your total budget and just buy vacant land or larger allotments of land?

After all, if you get the basics right, at the end of the day a house will depreciate over time and lose value, while land will continue to grow in value.

So many questions…. here are my thoughts;

Why do we need the property?

If the land is so important, why do we even need physical property?

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As a property investor, there are important benefits that buying a block of land, with a residence on it will do for you.

Firstly, and most importantly, by … Read more

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