Household wealth rose for the fifth straight quarter (+2.8 per cent or $419 billion) in the December quarter of 2023, according to the latest figures released by the Australian Bureau of Statistics (ABS). Total household wealth was $15.7 trillion in the December quarter, which was 7.8 per cent ($1.1 trillion) higher than a year ago. Residential land…
When it comes to money, what we don’t know can hurt us. I’ve seen this truth play out time and again when people tell me they want to get serious about their finances. They want to invest. They want to make plans for the future. “Great,” I’ll say, “so what can you tell me about…
Money in the bank from households continues to climb with APRA’s latest data showing Australians collectively stockpiled an additional $6.17 billion in the month of February. This takes the total value of household deposits to a new record high of $1.46 trillion. APRA’s monthly banking statistics released today also show that since the start of…
It’s a sad reality that our society seems to be more litigious than in years gone by. Thankfully, we’re not in the same parlous state as America, but there is a greater chance than before that you could become involved in legal proceedings that threaten your wealth creation efforts. While that might seem like a…
Put your hand up if you would like to be rich. Thought so. Now keep your hand up if you think that you can become rich. Not so many hands in the air. But for those who agreed with both statements: congratulations. You’re halfway to becoming wealthy because you’ve got the right mindset, which is…
When I began my Rich Habits Study, I wanted to know the answer to one question: why are some people rich and other people poor? Five years, and 51,984 questions later, I learned the answer – Habits. Habits dictate your circumstances in life. This is a truly groundbreaking discovery. Habits affect just about every aspect of your…
Who doesn’t love their children? We often quickly think of passing our assets to our kids on death. But do we really know who will actually receive them? This is a modern-day conundrum. We don’t know when we are going to die, and as such, do not know our children’s circumstances at that time. They…
On your deathbed, it’s too late to make wish lists. That’s the thought that went through my head high over the ocean, willing the plane to go faster as I rushed thousands of miles back to New Zealand to meet up with my gravely injured wife in the hospital near Christchurch. Let me back up….
When you’re struggling to achieve financial freedom, rich people can feel like an entirely separate species. They move in different circles. They have different routines. They even seem to think differently from others. This is not a myth. Rich people are not actually different, of course, but they do act differently from those who are…
Here’s an Important Financial Lesson That Could Set You Free. It’s one of my favourite stories – The Parable of The Mexican Fisherman. It’s short, fun, and packs an important message. Make sure to see my related questions at the end of the story to help with your own plans for wealth and prosperity. The…
