One of the #1 traits shared by the self-made millionaires in my Rich Habits study was a positive mental outlook. The average net worth of those millionaires was $4 million. So, being positive is worth quite a bit of money. But what is a positive mental outlook? It is an upbeat lens through which you…
Everyone’s an expert today. In relationships, business, marketing or investing, there’s a cast of thousands that’ll tell you what to do. One of them is a guy I’ve known for 20 years. Let’s call him Phil. Hell of a nice bloke. But every time I see him, he tries to teach me something, like the…
While it’s always advisable to have a will, not every will is created equally. Amateur wills are generally not worth the paper you’ve written them on, so you should always use a lawyer who specialises in the preparation of wills. Fundamentally, the transfer of assets held in your name (which are also called estate assets)…
During my five years studying the rich and the poor I identified 10 hard truths about the wealth gap that no politician or member of the mainstream media would dare reveal. In those five years, I asked 361 rich and poor people 144 questions each. That’s 51,984 questions. I wanted to find out what each…
Australians have long prided themselves on enjoying the good life—sun-soaked holidays, sparkling new cars in the driveway, freshly renovated homes, and indulgent weekends out. But underneath this polished surface, a troubling financial reality is emerging. A recent report from Finder paints a worrying picture: over 6.3 million Australians are falling into debt just to keep…
Sometimes children can cut right to the chase with the questions they ask. A few years ago, I remember that after a particularly nice win on the share market, I rewarded my little boy by getting him a new computer game. He ran around the house like the excited seven-year-old that he is, and swept…
If you use your own car for work purposes, you could be eligible to claim a tax deduction for car expenses, whether you own your car outright, are leasing it or paying it off. The Australian Taxation Office explains that you can claim a deduction for car expenses if you use your car to: Perform…
There is no one perfect formula to achieve success, which is probably a disappointment for many people! Alas, too many people think they can simply follow one person’s individualised model of success and achieve the same stellar results. The issue with this idea is that everyone’s path can be very different because each person on…
You’d think that after 13 interest rate rises, the Australian consumer would be on the ropes, gasping for breath. But here we are, watching Aussies continue to spend like they’re in the ring with a featherweight, not a heavyweight. What gives? It’s a fascinating scenario that has defied all the economic forecasters who predicted an…
When I travel the country speaking to high school and college students about exactly what they need to do to become financially successful in life, I like to begin my presentation by asking the same three questions: “How many want to be financially successful in life?” “How many think they will be financially successful in…
