Tag Archives: flipping properties for profit

Is Our Biggest Fear Outliving Our Money?

This was written by 

*Addressing longevity risks among retirees and self-managed super fund (SMSF) holders who will outlive their retirement savings is one of the biggest challenges facing advisers, one SMSF expert believes.
Australian Superannuation and Compliance founding principal and director, Ravi Subramaniam, said advisers and service providers will need to advise on the long term investment strategies according to the groups’ lifestyle goals. 

Are Boomer Retirees afraid of outliving their money?

Our natural reaction to any fear is to, fight, flee or freeze. taking that there are many of us who don’t talk about money maybe we are afraid and in the freeze or flee situation about our retirement funds. Financial fear often leads to paralysis – where you ignore your money problems and hope they will somehow go away.

There’s one small hiccup with that idea though – The problem will not go away!

I got such a fright when I did an audit of my pension funds that I started to fight back.

“Playing it safe” by trusting others with my financial future was probably the riskiest thing I did. Were you hit in the same way?

I was one of those people who used to dream of getting rich but found in reality I was just hoping not to lose our home. Robert Kiyosaki says that “Without financial education, you’re at the mercy of the market.” So I took his advice and his tuition. Yes, it cost some but I learnt a lot and wish I’d known it all when I was a lot younger with time on my side. However it did lead me along what I call my ‘retirement salvation path.’ Thankfully I now feel empowered like never before and able to make the necessary financial plan to salvage from our wrecked pensions a way forward to ensure we have money for our entire lives no matter how long we live!

If you don’t have a plan to achieve financial security, what’s stopping you? If you’re not sure what to do or how to do it, then get some help, there’s tons around to choose from.

After doing my course with RichDad company I settled on two income avenues working with Pete Carruthers for one and with Flipping 4 Profit for the other. I have been doing both from the comfort of my sofa and you can too.

It’s not too late to get financially educated and bolster ailing retirement funds.
Don’t let fear cost you money!

Go wealthier till the next time
www.flipping2retirement.net
Sources:

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Why is Passively Investing in Real Estate Critical for Retirement?

I love this article from Bigger Pockets . I have taken some salient points which made good sense to me

Passively Investing in Real Estate is Critical for Retirement

Passive real estate investing allows investors the freedom to choose when to retire and without passive income, many will not be able to do so.

Definition of Wealth

What is wealth? Have you ever really thought about it? Or more importantly, have you ever thought about what wealth looks like for you? Wealthy is when we are able to stop… to stop doing the things we have to do so we can do the things we want to do.  Each of us has a lifestyle that we live and hopefully we have identified hobbies or activities that we enjoy; wealth is simply a mathematical equation that tells each of us how long we can enjoy those hobbies and our lifestyle before our funds run out!

Here is a simple mathematical equation for determining wealth:

There are many retirement forecast sites you can visit (**some are at the end of this article)  but essentially this is the equation and it’s easy enough for me to do it!

Balance of Accounts (cash on hand, retirement) = Retirement funds:

Monthly expenses (Mortgage payment, car notes, living expenses, insurance, required funding):
Monthly passive income (Net cash flow after debt service & expenses):

Monthly Expense - Monthly Passive Income = Total Monthly Flow (Positive or Negative) Multiply this number  by 12 to get Yearly Flow

Retirement Funds/Yearly Flow = number of years

*Ideally your passive income is larger than monthly expenses, but for most, it is not.  Subtract the passive income from the expenses and divide your Retirement funds by this number and you have how many years you can maintain your current lifestyle before your funds ran out.  Most people are often surprised to see that after a short handful of years their funds are gone. 

Since very few of us are built with the notion that working until our last day is our idea of enjoyment, putting together a plan for growing passive income becomes critical for securing a comfortable retirement.

Develop Passive Investments for Retirement

By adding passive investment properties to a portfolio, an investor gives themselves the freedom to choose which activities are most important to them

Passive Income and Real Estate Investing

I’ve  flipped some properties and I hold some as a long-term rental.  Essentially, I do nothing except choose what I wish to invest in today!  I leave the hard work to others who manage the whole process I simply just enjoy choosing what to invest in today!

Luckily, I am building a  ***passive income that will allow me to experience retirement on my terms for many years to come

Go well till the next time
www.flipping2retirement.net

 

Sources:

  • ***www.flipping4profit.com/waterfall
  • **http://www.mutualofomaha.com/tools/calculators/retirement-planning/how-will-retirement-impact-my-living-expenses.php
  • **http://www.dinkytown.net/java/RetirementDistribution.html
  • *http://www.biggerpockets.com/renewsblog/2011/11/08/passively-investing-in-real-estate-is-critical-for-retirement/

Ways to Save For Retirement?

Have you suffered like my previous blog suggested from
analysis paralysis?

I took the big plunge last year – stopped analysing and went with my gut. Do you know what? It’s actually working out just fine.  Here are a few of the ways I used to stop researching myself into inactivity and to kick-start my saving and investing each month. My goal, which is 4 years away, is firmly being visualised.

I decided I wanted to use real estate to invest in but got very disheartened with how to get there but I found a way to START SMALL .  I started with just $100, you can’t get much smaller than that! It was such a relief to find I didn’t need $40,000 to invest. I have time to grow my savings. I will get to my goal figure even though I have started so small.

So the advice I have found is to set yourself a goal to save at least 10 to 15 percent of your income each month for retirement if you’re in your 30’s. If you are older and just beginning then you will need to invest more, 20-25%. If you’re able to do more, wow! Just do it!

The next important step was to START NOW. Hey, once you know you should be saving what on earth are you waiting for. Just do it, NOW! Do not put off retirement planning for your later years. It needs to happen now.

I also realised that I needed to GET HELP, I talked to accountants, real estate professionals, tax professionals, took a course or two. All useful in helping my decision making, simpler. There’s nothing wrong in seeking advice on your finances. It’s wise.

Having started, I have to keep going, it is important to MAKE A HABIT out of saving/investing.
Our savings won’t grow if we don’t make it part of our monthly routine. I found the more I do it, the easier it becomes.

TAKE THE RISK – All investments have an element of risk but if you want to make your money grow, you’re going to need to take a few risks. We have previously discussed how to use a balance of research and gut feeling to get it right for you. If you need help there is plenty out there, go and speak with a financial specialist on the best options for your goals.

Have you notice how rich people always LOOK FOR OPPORTUNITIES. So be awake, so as not to miss when opportunity knocks. See it for what it is! One opportunity if you work for a company could be the company savings platform. It makes perfect sense to use this to build your future pension because the company matches your savings. What shopper/saver can turn down an offer of 2 for the price of 1? Surely it has to be a no-brainer?

Of course you cannot do any of the above if you don’t BUDGET. You can’t save more than you can afford. I have read that a good rule to follow is the 10-10-80 rule–where you save 10 percent of your income, invest the other 10 percent, and live off the remaining 80 percent.

Finally, *Madamenoire wisely points out  that “If you don’t put away for your retirement, you aren’t going to have money for yourself, let alone people who might need to depend on you.

Hope this helps kick-start your savings Remember to  START .

Go well till the next time
www.flipping2retirement.net
Sources:

Are You On The Right Track For Becoming A Millionaire?

ReBlogged
Posted on December 10, 2014 by Jeet Banerjee

 While some people like to argue that money isn’t a true measure of success, money is just a way to buy yourself freedom. It gives you the freedom to do the things you always wanted to do and to spend time your own way.

 As a result of that, everyone has some sort of monetary goal that they want to achieve. Becoming a millionaire nowadays isn’t as hard as it may seem on the outside. With the right mindset and approach, anyone can essentially achieve it.

In this post, I’m going to share 7 signs you’re on the right track for becoming a millionaire:

  1. You’re Investing Instead Of Saving

 The best type of income is the one where you get paid without having to do much work. Why do the wealthier get even wealthier every single day? Wise investments. If you have money, don’t store it under your mattress. Instead, find a place where you can double, triple or quadruple it.

Millionaires believe in creating a rainy day fund that they never touch. Aside from that, all other money is invested into various types of money-making avenues. Every time you earn a dollar, think about how you can double it.

 2. You’re Dreaming Big

 One of my favourite quotes is, “Shoot for the moon. Even if you miss, you’ll land amongst the stars.” When people are setting a goal of one million dollars, you’re setting a goal of 25 million dollars. If you have that kind of attitude, you’re dreaming big.

 What you dream and essentially think about continuously is what ends up happening. It’s the law of attraction and it plays a huge factor when it comes to wealth. Don’t go for the minimum, instead shoot for the most unrealistic goal you can think of.

 3. You Never Say No To An Opportunity

 Opportunities are always coming and going. However, millionaires don’t think like that. They don’t know which opportunity or connection it is that can take them over the top so they keep an open mind when it comes to everything.

If you’re passing down opportunities without even hearing them, you’re missing out big time. It only takes one big success to earn a ridiculous amount of wealth. Smart individuals are always waiting and keeping an open mind when someone is bringing them an opportunity.

  1. You’re Learning Everyday 

Darwin said it the best when he said it’s not the strongest or the most intelligent of the species that survives. Instead, it’s the one who is most adaptable to change. The world is constantly changing every single day and you need to keep up with it.

 If you’re stuck with the old ways, you’re not going to be wealthy or successful. Millionaires are learning and educating themselves every single day on what changes they can make to have the upper hand tomorrow.

 5. You’d Rather Be Anything But Poor

Being poor or wealthy is really a mindset. Bill Gates said it best when he said, “If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake.”

 Those are some extremely powerful words delivered by one of the wealthiest individuals in the world. If you’ve ever lived a day poor in your life, you truly understand how much it sucks. Use that as your fuel and motivation to promise yourself that you’re not going to go through that life ever again.

  1. You’re A Goal Setter

 Setting goals is crucial to success in anything. If you’re aimlessly working without having a purpose, you’re not going to be successful. You need to write down your goals and make sure that you’re working towards them every single day.

 By setting goals, you don’t just want to set that big goal of earning a ton of money. If you want to earn $10 million dollars in 5 years. You might set a goal such as earning $500,000 the first year, $1.5 million the second year and so forth. Set small goals that lead towards your larger goal.

  1. You’re Passionate 

If you’re not passionate about what you do, you’re not going to be successful at it. Talent can only take you so far. If you don’t love what you do, it’s going to be real hard to get up and put the work in every single day.

Millionaires are so successful because they love what they do and they’re willing to put in additional hours even if it doesn’t necessarily mean getting paid for that time. Find a passion of yours and use that to generate income. You’ll be much happier this way.

Conclusion

As mentioned earlier, earning a million dollars isn’t that wild of a thought any more. In this post, we shared 7 signs you’re on the right track for becoming a millionaire.

 

A wise young man! I am so visualizing where I want to be I can almost taste it and I’m working hard to achieve the means to get me there. How are you doing?

Go well till the next time
www.flipping2retirement.net

 

Sources:

 

 

Forget about your investments!

No one is telling you not to invest.
Absolutely you must but listen to Warren Buffett

In his 1996 chairman’s letter to shareholders, he stated: “inactivity strikes us as intelligent behavior.” In a similar vein, he observed in his 1990 letter that “Lethargy bordering on sloth remains the cornerstone of our investment style.”

From the little I know about stocks ‘n shares, it appears to me that they are quite volatile especially compared to property. However it seems in the long run that the share investments, if left, reach a reasonable increase in value. So unless you are a budding stockbroker and prepared to take your chances selling and buying it seems pretty logical to let sleeping investments lie and reap the rewards down the road. I found these tips:

The secret to the success of these investments is to have a monthly debit order and then to forget about it.

  1. Let the market or the fund managers do the hard work for you.
  2. Best of all, these investments can grow into a fortune over the years… and often the returns are far greater than a regular retirement fund.
  3. The investor’s best friend, compound interest, is on your side. As the returns of your investments pay out, reinvest them and make your money grow even faster.
  4. Remember… with these sorts of investments have to have an investment horizon of at least five years but, the longer the better.
  5. Increase your monthly debit order as your monthly salary increase or invest in more unit trusts or ETFs to increase your wealth over the years.

Well I’m certainly hoping the above advice works for my pension investments. To date they are in a deep trough so I only have one option and that is to forget about them and wait for the longed for uprising one day!

In the meantime I am not putting any more savings into those investments. Instead, I’m working with a crowd-investing property platform. Lots of flips – lots of control over what I invest in- no hassles and, lots of profits too! What’s more I’ve found a fun way to invest in property.

Loving life I am 🙂

Go well till the next time
www.flipping2retirement.net

sources:

Do You Believe in Luck or Sheer Hard Work?

Talk Therapies asked me the other day

“How lucky are you?”

Well, so are you lucky? – Do you believe in luck?

I’m a pretty, ‘feet on the ground’, type of gal and have always believed in a good work ethic as being prime to self-help, however, I think timing has an awful lot to do with your success.

So is timing; luck, innate knowledge, or good planning?
Again being pretty practical I would say a dash of all of the above:
Looking at the people who have been in my life I have noticed that some people do seem to have good things come their way more often than others. Whether it’s winning competitions or raffles,  good board games/cards or just has cool stuff happening to them.

What makes that happen? Luck? Timing? or Knowledge?
According to Talk Therapies there have been several studies on this and the findings all seem to point to one thing…

Taking a chance!

“People who appear to be lucky tend to be more social and are open to opportunity. They
tend to be more optimistic people who believe that good things will happen, so they take
a chance. The more chances you take, the more likely you are that some of them will
pay off.”

Of course memory plays a neat job at making lucky people luckier too, because we all tend to not know about, or to conveniently forget about, all the failures that led to their lucky streaks.
Perfect examples are celebrities who have suddenly “arrived” (not)
It took them plenty of hard slog and refusals to get there!

Talk Therapies has a good little test you can do “Imagine a friend that takes a chance every day. Maybe one in 10 of those will pay off – so that’s about 3 good things that happen a month. Now think of a friend who only takes one opportunity a month – they may only have one good thing happen all year. It’s about the same ratio of good to bad but one friend will seem a lot luckier, particularly if they only tell you about the good things that happen.

“So, if you want to be lucky, say yes to every opportunity that comes your way
who knows where it could lead.

I say Yes to that, ‘with knobs on!!’

My latest opportunity is, amazingly turning into something I only dreamed about
Yes I’m working at it but nothing is passive unless you’re dead!
But it is giving me a great opportunity to have a decent retirement income, I couldn’t be happier!

What can you say yes to today?

Go on – Be lucky!!
You never know where it could lead.

Go well till the next time
www.flipping2retirement.net

 

Sources:

How To Make a Real Estate Investment

MAKE A REAL ESTATE INVESTMENT IN
5 SIMPLE STEPS

1. Register as an InvestorFrom Flipping2Retirement,net (4)

It’s free and easy and once you sign up you gain direct access to exclusive private real estate investments around the world.

2. Browse Investmentsbrowse

Registered investors can securely browse our marketplace of real estate investments and access a detailed investment page for any specific offering.

3. View & Finalize Investments.

When you’re ready, you can invest directly through the site. Funds are transferred electronically depending on where you live.

4. Wait for Funding Goal to be Reached.

Each investment has a unique funding goal and your funds are maintained in escrow until that goal is reached. Once reached, you own a share of that investment.

5. Manage Your Real Estate Investments Online.

As a Flipping 4 Profit Investor you have full control over your funds, via your Investor Member’s area.  As each property is sold, you choose from the different options available, what to do with your funds…

  • Take the funds out,
  • Take the profits out,
  • Reinvest the funds and profits or
  • Take some out  and reinvest some

It works like a dream and is great fun. I couldn’t find a better way to add to my retirement funds where I have total control and can watch as I gather profits to re-invest until such time when I want to use it. Why not start your property portfolio today 🙂

Go well till the next time
www.flipping2retirement.net