[Podcast] Here’s what you need to do to become a successful investor | Estate planning with Ken Raiss

[Podcast] Here’s what you need to do to become a successful investor | Estate planning with Ken Raiss

Or listen and subscribe in your favourite podcast player:

You’re probably listening to this podcast because you’re interested in property investment.

And I bet you want to become a better investor. Podcast Successful Investors Do Differently

So, today, I’m going to teach you how to become a successful property investor.

And it’s probably not what you think.

In fact, it’s not what most people do, or more people would be successful.

And then, with Ken Raiss, we’re going to have a chat about estate planning.

That’s not a very sexy topic, but it is a really important one to set yourself up right to grow, protect, and pass on your wealth to the people you want to pass it on to and not to those who you don’t want to pass it on to.

And it’s not just the tax man, it’s the in-laws, the outlaws, and the other people as well.

So, Ken’s got some great tips for estate planning, and that’s relevant for you at whatever age you are along your journey, because the sooner you get it right, the more protected you’ll be.

Then, in my mindset moment, I’m going to discuss some important financial mindsets that will help you get to the next level.

Here’s what you need to do to become a successful investor

  1. Don’t wait too long – Everything doesn’t have to be perfect for you to get started in property investing. The longer you wait to get started before investing, the longer it’s going to take for you to build the money, the success, and the freedom you want.
  2. Don’t let fear stop you – Fear stops most of us from getting what we want. Successful investors learn to harness their fears and take positive action instead of letting fear stop them.
  3. Don’t try to wait till you know everything – The more you learn, the more you learn you don’t know. The key is to recognize that you’ll never know it all, but you do know enough to get started.
  4. Focus on passive income, not linear income – Not all income is created equal. If you’re not making money while you sleep, you’ll never become rich.
  5. Use money-making systems – Money-making systems take the emotion out of your investment decisions and makes the results more reproducible.
  6. Be patient – Successful property investing is a long-term affair, not a get-rich quick scheme.

Estate planning with Ken Raiss

Without a will, the government will dictate who will get your estate. Ken Raiss

And the way most estates are set up, a person’s spouse or life partner won’t necessarily get all of it.

Just taking into account life insurance and the family home, there are significant sums of money involved in an estate that can either help your loved ones after your death, or cause headaches when your loved ones don’t get what they think they should get.

People often assume that superannuation or other funds, like money in trusts, that aren’t in their own names will just get passed on to their kids. But that’s not necessarily true. A will only covers assets that are in your name.

When it comes to estate planning you need to talk to someone who understands asset protection, estate planning, taxation, superannuation, and structures like trusts.

Having an incorrect will can leave your loved ones and assets exposed.

A traditional will move assets from you on your death to your children, for example.

But if your children get sued or end up in a family law court dispute, those assets could be loss.

You also lose the flexibility of distributing income or capital gains to reduce the overall family tax liability.  Tax Shutterstock 313474802 825x465

There’s also a “minus tax” that applies a 66% tax to children under 18 who are receiving income or capital gains.

You can create a will that as part of it has a trust that eliminates a lot of the potential problems with a traditional will.

This is called a Testamentary Trust

You also need to consider things like power of attorney, medical power of attorney, guardianship agreements, and superannuation when you’re thinking about estate planning.

The time to think about estate planning is when you’re not ill or emotional and when you have time to sit and plan with a wealth strategist.

You should review and revise your estate plan after any big life changes, wealth changes, or business changes.

And even without those major changes, it’s a good idea to revisit your plan every two to three years, just to make sure that there’s nothing you need to change. 

Links and Resources:

Michael Yardney

Metropole Property Strategists

Metropole’s Strategic Property Plan – to help both beginning and experienced investors

Ken Raiss Metropole Wealth Advisory

Organise a time to speak with Ken by clicking here :  www.Wealth.Metropole.com.au 

Some of our favourite quotes from the show: Land Tax

“Over the years, I’ve come to the conclusion that if you do what most successful investors do, you get to become one of them. And if you don’t, you won’t.” – Michael Yardney

“One thing’s for certain: you need to drop the wage mindset and think like a businessperson or entrepreneur.” – Michael Yardney

“The only true failure in life is never letting yourself make a mistake.” – Michael Yardney


Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how



Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.

No comments
Copyright © 2024 Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts