Almost everyone would say that financial freedom is a goal for them, and in recent years property has emerged as a key path to achieving it. Today I sit down with Tom Haigh, an Australian property expert and host of The Australian Property Show, to share the power of property in building your financial future.

Contrary to traditional financial planning that veers towards shares and managed funds, Tom advocates for the power of property as an investment. He believes that property, especially in the Australian market, can completely transform someone's financial fate.

 

What’s the right time to invest?
One roadblock many people face in property investment is the perceived time and financial constraints. On the one hand, you might think you don’t have the money or time and should wait until a later date when you do. On the other hand, you may see the missed opportunities of yesterday and think “What’s the point?” but we can’t afford to get trapped in this mindset.

Yes, the best time to start investing was yesterday, but the second-best time is right now. Tom highlights the importance of starting investing even with limited resources so you can take full advantage of compound growth over time. If it sounds impossible, it’s not. Tom shares practical strategies for how to start building your asset base, even with limited initial capital.

 

The Importance of Professional Advice
Tom also encourages people to reach out to financial professionals for advice. They’ll be able to guide you through the process and help make the most of your current assets. Keep in mind that financial advisors can vary greatly, and working with one who’s a poor fit for you can make things worse. Look for someone who presents a strategy that aligns with your financial aspirations, and make sure they practice what they preach. This way you can be confident their advice is reliable and applicable for you.

 

The Role of Education and Community
Investors also have a responsibility to educate themselves. No one is born knowing how to manage investments, or plan for the future – it’s a learned skill and one we should all strive to build, even when working with a professional.  Thankfully there is a wealth of information available for us to learn from, whether that’s books, podcasts, videos, or something else!

It's also important to connect with people who are working to achieve similar goals. This work isn’t easy and there will be times when you struggle, but having a supportive community will help keep you motivated and on track!

 

The big message from our conversation? Taking informed action is key. Whether you're renovating a property, investing in shares, or planning for retirement, the first step is always the hardest. Yet, it's the most rewarding. I hope this episode can give you the confidence to break out of the fear trap and start taking steps to build your financial future.

Enjoy!

 

LINKS:

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