Proudly Self-Sponsored By: MiTCHi Money Budget & Wealth Management Client Software

In today's world of instant gratification we have ever increasing amounts of consumer debt.

In this episode we go through what exactly constitutes:

Good & Bad Debt.

Also, how to structure a debt recycling strategy to pay off non-deductible debt faster using this proven strategy.

Before making any financial decisions you should understand your Net Retirement Figures and implementation strategy. If you don't know yours check out our "Perfect Retirement Blueprint" that will help you set your own DIY financial plan in place.

Proudly Self Sponsored By: MiTCHi Money Budget & Wealth Management Client Software

What's the best way to structure your investments?

A great question that impacts millions of people. Ownership structures are used for many things including:

- Asset protection
- Tax beneficial structure
- Inheritance
- Control
- Wealth Accumulation

In this episode we discuss the main ownership structures and the pros and cons of each one:

- Company
- Trusts (Discretionary trust, unit trust, hybrid trust)
- Individual
- Partnership

Each of these setups comes with their own number of benefits and also their own type of issues. It's with understanding a strategy and what we want out of the strategy that can help determine which strategy is the best one for our circumstances.

If you want to better manage your money through out budgeting and wealth software: Check it out here!

If you want to setup your own DIY financial plan check out our "Perfect Retirement Blueprint Here"


Note: MiTCHi money doesn't provide any type of financial advice, this show is purely for entertainment and information

Proudly Self Sponsored By: MiTCHi Money Budget & Money Management Software

What should you do when you know you need to invest but don't have enough money to do so?

In this episode we talk about what you should do if you find yourself with not enough money or living pay-check to pay-check.

Some of the topics we cover within this episode:

- So called social media 'guru's isn't the right advice
- Paying off debt is investing!
- Budget + net retirement figure is your starting point
- Step 1: what buffer do you need
- Step 2: debt reduction
- Step 3: more cash buffer... what?
- Step 4: wealth implementation strategy
- Self financial review & repeating a successful strategy
- Positive traction thinking!
- Can you invest while still having debt?
- Retirement Accounts (Superannuation, 401k etc)


When you don't have enough money you need to be strategic, you need to be consistent, you need to ensure you follow a proven plan. If you do this, positive traction thinking will kick in and make this newly formed habit more of a priority for you.

Though our Perfect Retirement Blueprint we help people develop their own special financial plan that will guide them from zero to $$$. Check it out here!

Proudly Self Sponsored By: MiTCHi Money Budgeting Software

Many people say a 15 year mortgage is better than a 30 year mortgage because you pay less interest.

But there's many things you should look at when considering your mortgage term. Not just the amount of interest you will pay but also you should consider how it will affect you long term.

In this episode of MiTCHi Money we discuss the difference between a 15 year mortgage and a 30 year mortgage and just why a 30 year mortgage is better in nearly every way to a 15 year mortgage.

Before you start your investing journey do you know your figures?

Do you know how much income you want in retirement?
Do you know how much capital that will be?
Have you worked out what your net worth needs to improve by each month?
Have you got an implementation plan?
Do you know your investment risk profile?

Work it all out with our "Perfect Retirement Blueprint" Click here!

Proudly Self Sponsored by: MiTCHi Money Budget & Money Management APP

Listen in as Andrew answers some of the common personal finance questions that come up.

Creating wealth comes from doing small things well, consistently. being deliberate and consistent in your approach gives you a super edge to creating wealth for yourself and your family.

If you want our workbook and training to set your own financial plan you can check out our Perfect Retirement Blueprint course at:

Perfect Retirement Blueprint

What we will cover today is:

- How bad is it if I don’t pay off my credit card every month?
- What does a budget really look like?
- How much debt is too much debt?
- How much can I spend on entertainment / fun each month?
- Do I really need private health insurance?
- What age should I start saving for retirement?
- How much money should I have in my emergency fund?
- I'm moving in with my partner, how should we handle our finances?

If you are looking for a better way to set your financial goals and manage your money, check out our budget app at MiTCHi Money

Learn what you need about cashflow property investing:

 Cashflow property investment strategies are some of the most powerful strategies that people can take advantage of.

Some of the benefits:

-          Using the cashflow strategy to fast track paying off it’s own investment debt to provide greater passive income faster or creating equity faster to buy other assets

-          Using the cashflow to pay off a PPR faster or any non-deductible debt

-          You can use the passive income to diversify your investments and put the additional surplus cash into other assets

-          You can use the passive income to supplement your lifestyle

-          Or you can use it as an emergency buffer in times you need additional cashflow

-          Fantastic strategy when rates are on the increase as it’s still affordable

-          Usually have strong rental demand due to lower pricing rent than capital cities

Ok so they are the pros – but what about the cons:

-          Good cashflow properties are harder to find than generic properties on the market

-          You need to do more research because to get the rental yield you most likely need to be outside of main capital cities so you need to have confidence in the area

-          Depending on how many dwellings on one title, financing can be restricted as some banks don’t like doing multi units so the lvr might decrease down to 80% or even 60% if you’re perhaps thinking 6 units on one title.

-          You are taking the cash now to utilise as a strategy or provide you income, but you aren’t likely to get the highest capital growth.

-          Might need some TLC and small renovation / cosmetic improvement

To check out the video on the exact example of buying 2 properties and having $108k passive income you can check it out here:

https://www.youtube.com/watch?v=4ephCPRYWj0

Today we discuss what Dividend Reinvestment Plans (DRPs) are plus we cover the following:

-         How do dividend reinvestment plans work?

-         Advantages for the investor

-         Advantages for the company

-         Tax implications of dividend reinvestment plans

-         When are they are good idea and when are they a bad idea?

Many people aren't 100% what DRPs are and how they work and whether they are a good fit for them. 

This episode will help you understand the benefits and also situations on when you shouldn't participate e and also how to calculate the tax component of DRPs

We explain the main things you should be looking at when you are trying to create wealth in your 30's and 40's. 

It is 100% not too late to start your retirement planning. 

Links we refer to in this episode of our podcast:
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 The Financial Planning 4% wealth rule sucks - our video on why:

https://www.youtube.com/watch?v=g6fTEjBfsVo&t=103s

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You can check out our cashflow investing strategy which shows how you can pay off a cashflow property portfolio within 20 years and generate $108k in income.

https://www.youtube.com/watch?v=4ephCPRYWj0

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We have put together what I feel is the #1 wealth course – it’s called “The Perfect Retirement Blueprint” It does all the above and gets you set up to ensure you create wealth that matches your goals.

Https://www.mitchimoney.com/perfect-retirement-blueprint

 ======================================

Ontop of that if you are looking for something to track your financial goals, money management and track your spending and net worth automatically our MiTCHi Money software is designed to work in with exactly hitting your Net Retirement Figure and is the only software available that works exactly this way and makes it a priority!

https://www.mitchi.io

Join us for 4 main points we cover:

- Capital growth and cashflow investing which directly relates to index fund investments

- Why inflation resistant investments need to be part of your strategy

- The difference between investing at 20 yrs, 30 yrs & 40 yrs of age and how much it costs you to invest each month

- Why you need to start with calculating your net retirement figure

MiTCHi money helps people create massive wealth portfolios without the need for expensive financial advisors, who take your money and give you sup par returns.

You can check out our financial goal, money management & personal finance software here:

https://www.mitchi.io

If you want to create massive wealth you should check out our perfect retirement blueprint wealth course:

https://www.mitchimoney.com/perfect-retirement-blueprint

Today is the 10th episode of our MiTCHi Money Podcast.

Indexing has many great benefits. Some of those are:

- Low fees
- Diversification
- Low Tax
- Low Emotion

These 4 things help make indexing a really effective investment.

Who knew that having human emotions can actually detriment your investments..

Ever hear of FOMO - Fear of Missing Out?

FOL - Fear Of Loss?

These are big drivers behind decisions people make with investing - even if they don't think they are affected - guess what... They are!

What we will focus on in today's podcast is:

 What is an index fund?

• Index fund history
• Why are index funds popular
• Global Index fund Investing 
• Examples of different countries index funds
• Expense ratios & advisor fees