Reading Time: 1 Minute Hello everyone, a very quick video on the different income streams anyone can start today. Many of us only have the one income source – our jobs, but as we have seen in the last few months, it’s never more paramount to diversify our income streams so you have others to fall back on. Transcript: Today’s video is on a very important topic in personal finance, and that is about building different streams of income. Most people only have one source, that is their job. But as events this year have shown, it’s never more important to diversify your income streams so if one fails, you…
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4 Paths to Accumulating Wealth
Reading Time: 4 Minutes I wrote earlier this year about how “Being Rich Eliminates 67% of Life’s Problems” (link here). Well, following on from the study Tom Corley did… You know, Tom Corley? The guy who spent 12 years conducting a study by interviewing and researching millionaires, multi-millionaires, multi-multi-millionaires and a group designated… “poor”, to try and see what’s the difference between “rich” and “poor”. In short, it is habits, habits and habits. However in this, he also discerned 4 very different paths towards accumulating wealth. The Dreamer/Entrepreneur These are people who the phrase “love what you do” is coined. And it showed, with an average net worth of $7.4 million. But the path is…
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Case Study – $1.1m to Invest, Now What? Part 2
Reading Time: 4 Minutes Welcome back folks! Are you ready for part 2 of the case study? In which we answer a question MrsFrugalSamurai sent me: “Have $AU 1.1m to invest (recent inheritance) + $150k savings Current situation: Late 20’s income $100k, partner earns $100k No kids, no assets, no debt Aim is to be a homeowner and financially independent at some stage. How would others split it between: PPOR (principal place of residence, i.e. primary residence) buy outright or deposit + mortgage Investment property Low cost index/ETF/Super Others?” If you missed part 1, or want a refresher – don’t fret, have a quick read of it here. Actually… you…
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You Snooze You Lose – A Lost Property Opportunity
Reading Time: 3 Minutes Hey everyone! Writing this on a crisp Sunday morning surrounded by a whole ragtag bunch of no-gooders I call my friends. What a whirlwind weekend we had – it was the joint birthday of a couple of the gang so we did the annual pilgrimage to a tree-change location a few hours outside of Sydney. Cue laughter and drinking amidst the poker sessions, board games and non-stop sports streaming… An AMAZING time. So amazing that I didn’t notice that the property deal I talked about last time (read here), was stolen right under my nose. You might remember I vaguely talked about a sub-division opportunity which…
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Land-To-Asset-Ratio and a Real Life Case Study
Reading Time: 3 Minutes What’s up guys! Hope everyone’s having a great week. Up and down kinda week here at TheFrugalSamurai HQ… Up because PapaFrugalSamurai aka my Uncle’s brother has returned back from a 3 month soiree in the Motherland. Down because well, there’s still a few personal issues afoot. But enough about me – for today we are discussing: Land-To-Asset-Ratio I’ve actually only stumbled onto this concept recently and wished I had understood this when I first started my investment journey into real estate. What is it? The most basic explanation is the “land value” component for a property compared to its overall value. For example, if a property…
