| 1. |
7 Habits Of Successful
People
1. Work Hard
Don't believe the hype about
working smart; successful people
are not lazy, they have a huge
capacity for work. They subscribe
to view of Francoise de Motteville
who said "The true way to render
ourselves happy is to love our work
and find in it our pleasure. "Spike
Milligan had a different angle; he
said "All I ask is the chance to
prove that money can't make me
happy." |
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| 2. |
A
Guru tells You How To
Win
Bob Rotella, is
recognized as the top Sports
Psychologist in the world and
has dedicated his life to
helping athletes use their
minds to take them to the
top. Bob says, "When you
watch major golf
championships don't be fooled
by the calm expressions -
they sweat over every shot;
they're nervous. The big
difference is the top
performers have learned that
success isn't so much about
who has the best swing; it is
will their minds let them
win? |
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| 3. |
A
Giant Of Economics
Milton Friedman
belongs in a list of the most
important and influential
people of the last 100
years.He promoted what were
then new ideas in the 1950's
- free markets and personal
liberty. He argued that
economic freedom was good
economics and was also
necessary for political
freedom. At that time,
remembering the great
depression (unemployment 18
per cent), many Americans
were suspicious of free
markets. |
|
| 4. |
Beware
of Governments
Nine years ago the
New York Times published an
article warning of the
problems that could arise
from US mortgage provider
Fannie Mae's plans to ease
credit requirements and offer
up home ownership to anyone
with a pulse. |
|
| 5. |
Tax
Tips
CGT is payable, in
full, on the sale of your PPR
if it is not in the name of
an individual who lives
there. So, if the property is
held in the name of a
company, trust or anyone
else, such as your parents,
you will not enjoy a CGT
exemption. |
|
| 6. |
Common
Vendor Mistakes
It's not uncommon
for some sellers to spend
thousands of dollars,
needlessly, in an effort to
upgrade, prior to sale.They
do this, in the belief that
it will add heaps to the
value of the property,
resulting in them recouping
their outlay tenfold is
misguided. By all means apply
a little TLC, if need be, but
there is no need to go
overboard. |
|
| 7. |
Common Personal Finance
Mistakes
While statistics may
lead us to think that
overspending is common, it is
certainly not wise and is
even risky. But, with a
little thought and effort,
you can protect your pay
cheque by being aware of
these common financial
mistakes and how to minimise
them: |
|
| 8. |
Defeat
Those Inner Gremlins
The majority of
people suffer debilitating
fears.
The inner gremlins are always there
to raise doubts about anything that
might alter their status quo: Do
you really think that is wise? Are
you ready to do this? Why don't you
get another opinion? Are you sure
you're not getting in over your
head? What will people
think? |
|
| 9. |
Tax
Tips Depriciating
Tax Tips.
Depreciating the cost of
building is available for
residential investment
properties built after 17
July 1985. So, while those
built prior to that date do
not qualify to write-off the
building they are able to
depreciate the plant and
equipment. |
|
| 10. |
Don't
Mess With Mr
Inbetween
We regard stress as
something harmful, dangerous,
negative, of great mental and
emotional strain and causing
only health problems. Stress,
however, does not mean this
exactly. |
|
| 11. |
Exponential
Growth
With exponential
growth, the larger the
quantity gets, the faster
it grows. Think about
that. One microbe in a
jar divides into two,
then four, then eight,
then sixteen etc. So if
it takes 10 days to half
fill the jar, how long
does it take to fill the
jar? The answer is 11
days.
|
|
| 12. |
Fund
Managers Do OK
Notwithstanding
super funds reporting their
biggest losses in almost two
decades, fund managers
received record fees.Over $65
billion was wiped of super
balances, yet fund managers
were still paid about $15
billion. |
|
| 13. |
10 Tips For Greater Self
Esteem
Low self esteem
comes in many garbs.
Low self esteem creates a
need to “fit in” and be
popular, because needing
others’ approval is a way of
comforting yourself when you
don’t have your own vote of
approval. Being prepared to
be different is evidence of a
healthy self
esteem |
|
| 14. |
Growth
Or Security
Imagine 200 people, at birth.
Current figures suggest that, on
average, they will live to an age
of 81 (let's say 80 for convenience
sake). Theoretically, that average
could be made up of 100 people
living to 60 plus 100 people living
to 100 years of age. |
|
| 15. |
unclaimed-money.nichetray
Reclaim Your Lost
Riches And Assets
There's almost $33 billion in
unclaimed money from old payroll
checks, utility refunds, trust
distributions, stocks, banking or
checking accounts, lost riches and
assets, certificates of deposit and
the contents of safe deposit boxes,
according to estimates by the
National Association of Unclaimed
Property
Administrators. |
|
| 16. |
The
Greatest Obstacle to
Success
If you were to
transport yourself back say,
5, 10 or more years, knowing
what you know today about
property values, could you
say that there have been
thousands, if not millions of
opportunities to create
financial security? And yet,
93% of Australians are
retiring broke after working
for 40 years?
|
|
| 17. |
5 Steps to Becoming a
Landlord
The thirty percent of Australians
who are renters is forecast to rise
to forty percent as homes become
less affordable. This is good news
for property investors because
maintaining a good occupancy rate
is crucial to your
success. |
| 18. |
Become
a Property
Baron
Borrowing to
invest in growth assets is the key
to serious wealth accumulation.
That's simply because, although
borrowing increases your exposure
to market risk, it also creates the
potential for more rewards because
share-markets and property has
always gone up, long term.
Remember, debt is one of the few
tools available to ordinary people
to build extraordinary
wealth. |
| 19. |
5
Typical Novice
Mistakes
Mistake 1: BUYING
THE DWELLING NOT THE
LOCATION
Buying an
investment property is a business!
It requires that you assess it in a
business-like manner. Understand
that you really don't
want a
dwelling on the land (because it
declines in value) but you
need a
dwelling (for taxation reasons).
So, don't get "hung up" on the
peripheral features of the
dwelling. |
| 20. |
6 Keys to Personal Financial
Success
We all make
mistakes, but there are some
fundamental ones that will cause
long term damage. We commit those
mistakes for any number of reasons
including fear, ignorance, ego or a
desire for immediate gratification.
This disinclination to give up a
certain immediate benefit for an
uncertain substantially greater
future benefit is well recognized
by
psychologists. |
| 21. |
Are
the Rich
Different? Investors who
are seeking the secret to
becoming rich are likely to
be disappointed to find there
is no secret; they invest
their money in the same
assets as everyone else.
There are however, key
differences: |
| 22. |
Common
Buyer
Errors
It has been said that those who
don't learn from history are doomed
to repeat it. With the real estate
market in a down cycle, it's a good
time to mull over some of the more
common "no-no's." Here are my picks
for mistakes to
avoid |
| 23. |
Frequently
Asked Questions
I'VE SEEN STORIES ON THE TV ABOUT
TENANTS DESTROYING PROPERTIES. IS
THIS
LIKELY?
I think the
reason I haven't, personally,
experienced this problem, is
because I don't deal with the
"bottom end" of the market. I
minimise this risk by not dealing
in the cheapest and oldest
properties, using experienced
property managers and securing
tenant protection
insurance. |
| 24. |
More Important Than the Property
Choice
The simplest
asset class classification is
shares, fixed interest, property or
cash. Those classifications can be
further divided into numerous
sub-classes, such as houses, units,
offices, factories (property), or
even houses in America or
Queensland or Perth
etc. |
| 25. |
Number
1 Welfare
State
Australia could
be described as the number one
welfare state in the world, with
the percentage of GDP going to
welfare setting the record, ahead
of former communist nations and
traditional welfare states like
Sweden - this is clearly
unsustainable. And yet the
government is being urged to add
another 20 weeks of taxpayer funded
parental leave to the
equation. |
| 26. |
Our
Future -
Immigration
All industrialized western nations
have a remarkably similar problem -
a time bomb ticking away - their
ageing
population.
Over the next
50 years, the ageing of Australians
will cost the public purse some
$1.2 trillion in extra spending,
equal to approximately $175,000 per
household. Those funds will need to
come from
somewhere. |
| 24. |
Secrets
of the Seriously
Wealthy
Forget the film
star imagery; the "beautiful
people" driving their luxury cars
and lunching at the visible
up-market restaurants, trying to
make themselves feel like
winners. |
