As a CPA, I’ve been advising wealthy individuals on money matters for more than 30 years. Plus, I spent five years studying the money habits of the rich. In my CPA business and from my research, I’ve documented a few common money blunders even smart, wealthy individuals make. You would think they’d know better, but…
Australians tucked an additional $6.53 billion away in the bank in May as household deposits continued to hit record highs. The total amount saved in the bank from households is now $1.481 trillion – the 11th consecutive record high, according to the latest APRA monthly banking statistics. This means household deposits have risen by over…
In my five-year study of the daily habits of the rich and poor, I discovered that there are two extreme types of relationships: Helpful Relationships and Toxic Relationships Helpful Relationships help lift you up in life and are always happy, optimistic, grateful, enthusiastic, open-minded, life-long learner types who help elevate your chances for success. Toxic…
Recently the Australian Taxation Office sent around a bulletin busting 5 common tax myths. Did you believe any of them? Myth 1: Investors can claim travel expenses to visit their residential investment property. Since 1 July 2017, investors can’t claim travel expenses to check on their residential investment property. This includes long and short-term rentals,…
A well-known study, conducted in 2013 by PEW Charitable Trusts, found that 70% of those born and raised in poverty, remain poor as adults. This “cycle of poverty” continues generation after generation. This data flies in the face of the notion that, at least in America, anyone can become financially successful so long as they…
Becoming a successful entrepreneur is not easy. I spent five years studying 177 self-made millionaires and I have to say, the entrepreneurs in my study were among the most courageous, fearless individuals I have ever met. They put everything on the line. They took enormous risks in the pursuit of their dreams. If you want…
Wondering what the Oracle of Omaha has his money invested in? In this graphic, we illustrate Berkshire Hathaway’s portfolio holdings, as of Q1 2024. This data was released on May 15, 2024, and can be easily accessed via CNBC’s Berkshire Hathaway Portfolio Tracker. The value of each position listed in this graphic is based on market…
No matter what age or stage of life you’re in, it’s valuable to understand how much money is needed for retirement. Because when the time does come, we all want to ensure we have the opportunity to live the best life possible. Here’s a breakdown of the average retirement income in Australia, how much money…
Are you waiting for things to change? Maybe you’re waiting for things to change so you can be happy or you’re waiting for things to change so you can finally take action on some of your ambitions. Maybe you’re wanting your business or professional practice to step up to the next level or you’re waiting…
The maths behind financial independence is incredibly simple. But, if that’s the case why do so few Australians achieve financial freedom? It’s not for the lack of knowledge – there are so many money blogs, videos, and podcasts out there. Instead, it’s a combination of our mindset, habits, and behaviours that rule our financial destiny….
