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Recreating your financial position after a divorce

  It happens so often where a couple who have worked hard to establish themselves in a strong financial position, end up getting divorced. What looked like a bright future financially has suddenly been halved. Often there is more of a financial strain on either party in needing to support the previous partner. Where to start in re creating what you have lost? Working in a Job solely on PAYE ( also called a J.O.B Just over broke) doesn’t get you there on its own. Of course there is the share market , option and currency trading but these in themselves are almost full time jobs if you want to get really good at it. Residential real estate isn’t as liquid and takes a bit longer but over a 10 year term properties, particularly in the Auckland market, have increased substantially in value. Why do all the hard work yourself? Surely you want quality and time to enjoy life. Property can gain value quicker, especially if you purchase below current valuation, than you can earn. Yes, there are property maintenance issues at times. However, if you purchase a low maintenance property (unless you are handy) and have a property inspection done prior to purchase, then you can avoid most of the expensive issues Yes, there are tenant issues at times. However, if you get a good property manager they will take care of those Yes, you can have some vacancies. However, if the property you purchase is in the mid range where most tenants are then generally any vacancies are minimal. There are lots of different strategies, the following are...

How does money work?

We have all heard that as New Zealander’s we need to learn to save more rather than spend. Impulse buying is quick and easy but finding that money to pay for essentials, once it has been spent is not always as easy. Years ago when my family was young, I discovered that we managed financially while paying off a car loan and that once that loan was paid off there was no money left over at the end of the pay packet. When I realized that, I decided that since we, as a family, had managed to live without that amount (whatever the monthly payment was) during the loan period, that at the end of the loan the same amount could go into a bank account instead of paying a lender. I decided that money obviously stretches since you learn to live within a budget.                                              Even if you put 10% of your earnings into a savings account and don’t touch it, you’ll be amazed at the changes in your financial life.                               finance, loans, mortgages Celebrate. I read somewhere (at the time) that its our viewpoint about money that helps to attract it and that our subconscious ‘past programming’ is a large part of this “consciousness”. All we could afford was the $1 Georgie Pie for the 5 of us so we would go and “celebrate” our good fortune. Gradually opportunities came our way...

The Butterfly effect

The Butterfly Effect by Ron White It was 1960 and meteorologist Edward Lorenz was working in his lab. He was entering data into his computer in the hope of modeling weather patterns when he stumbled upon a theory that is known as “The Butterfly Effect.” He was entering wind speed, air pressure and temperature into three separate equations that were linked in a mathematical feedback loop. This equation allowed Lorenz to predict weather patterns. One day Lorenz was in a bit of a hurry and opted to take a shortcut when entering the data. He rounded the numbers to the nearest one thousandth rather than to the nearest one millionth (for example, .407 instead of .407349). As a scientist, he knew this would change the result; however, he expected only a minor change. Lorenz was astounded to discover that this tiny change made a profound impact on the final resulting weather pattern. This discovery led Lorenz to ponder: Does the flap of a butterfly’s wing in Brazil cause a tornado in Texas? Thus, you have “The Butterfly Effect” theory. This theory has been applied to all areas of science since Lorenz’s 1960 experiment. What does it mean for your life? It means that every decision or action that you make—no matter how small—could potentially dramatically alter the course of your life. My life, as I am sure is the case with yours, is a testimony to “The Butterfly Effect.” When I was 12 years old, I met a friend named Brian in P.E. class. More than two decades later, Brian is still my best friend. At the age of...

6 levels in mindset to achieve great success

There are 6 levels that all need to be congruent with each other to be truly successful in all parts of your life. 1. Environment Have a good look at your environment- what does this have to do with success? If you surround yourself with a bunch of broke people what will you get? Broke people talk about problems and money issues. Start to mix with successful people and those interested in similar things. For instance if your interest is in property then join property meetings, read books and go to property seminars. Typically if you only mix with non achievers (they may be perfectly happy) you will not receive any encouragement to achieve. This does not mean you ‘dump’ your old friends but don’t spend all your time in that environment. What does your workspace look like? Is it a jungle of ‘stuff’? this provides cluttered thinking. You can get sidetracked into non important things and lose your focus. Most people can only handle 7 open projects at one time or they go into a tizzy.0 When you see all the junk then each one is an ‘open project’ waiting to be sorted. The environment you work in needs to be friendly, well lit, organised, comfortable etc Level 2- Behaviours You need certain behavious in order to move forward. Question, can you change a behaviour directly? No, behaviour is actually controlled by your thinking. You will need to go back to tune up the mind, focus, get the cause, take responsibility for where you are and your actions, then you will start to gain the right behaviours to...

10 Steps to getting out of the rat race forever

Step 1: Assess where you are today It’s not possible to get where you want to be unless you know where you are today! Sit down with your paychecks and your bills and get an honest assessment of how much money is coming in and what’s going out on a monthly basis. Do you have a positive amount or a negative amount? A negative amount means that you’ve got some work in front of you, but if you get honest with yourself and stop spending more money than you make, you’ll have a fighting chance! Step 2: Control what you can control Namely YOU! No one can control your thoughts or actions except you. Now is the time to take control! Becoming responsible for your actions and what happens to you is the way to start. Step 3: Seek out the Information that you need [hidepost] There’s lots of information about Real Estate investing out there. Sometimes it’s difficult to cut through the clutter and get the right stuff. Here’s how to get good advice; find someone who’s already been there, done that Find out the good and the bad about this business. Look at the various strategies and decide which one you would be passionate about Listen to the online property webinars with various property experts Ask questions Ask questions Want a shortcut? Look at the attitudes and behaviours of successful investors and act ‘as if’ you are of the same mindset and start living the life you have always wanted! Step 4: Decide if Real Estate investing is for you Now that you know what Real Estate...