[Podcast] Securing financial freedom in uncertain times with Ken Raiss

In a world of economic uncertainty, it's easy to feel like achieving financial freedom is impossible.

In today's show, Ken Raiss and I answer a number of your questions about how, despite all the unknowns ahead, property investors can achieve the end game of financial independence.

You’ll hear that although the journey may not be easy, with careful and thoughtful planning, you can put yourself in the best possible situation and start achieving your financial goals.

I know that many of our clients at Metropole have built substantial property portfolios that are giving them the sort of options in their lives they never thought possible, so I hope by the end of today’s show, you will have more clarity and direction for your investments in the current interesting times.

Q&A about securing financial freedom with Ken Raiss

We get lots of questions left on the Property Update website and emailed in, but today I’ve selected a group of questions that relate to the end game – building a property portfolio that will give you choices in life, so let’s start with the first question which comes from Helen.

1. With so much uncertainty between now and when I plan to retire, how do I formulate a strategic property plan?
   1. Don’t know what the rules will be then, but you’ll need home, property, and cashflow investments.
   2. Have a plan – that way, you won’t get distracted by all the white noise in the media.
   3. Start with the end in mind – time, target (how much cash do you need).
   4. Cashflow management – trap surplus cash flow and invest.
2. How many properties will I need to retire if I want a passive income of $150,000 per annum after tax?
   1. It’s not how many properties but the quality of the property and the returns and what other income you’ll receive, super, etc.
   2. Your income from your properties will depend on your tenant’s ability to keep paying higher rent, so choose locations where tenants are not one week away from being broke.
3. I don’t want to wait 20 or 30 years to be able to live off my property portfolio, is there any advice you can give me to speed this up?
   1. The correct asset allocation with above-average capital growth will speed up the process.
   2. Adding value through renovations or development will speed up the process.
   3. Taking significant risks, which we don’t recommend, will also speed up the process.

Links and Resources

Michael Yardney

Ken Raiss, director Metropole Wealth Advisory

Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here

Join Ken Raiss and Michael Yardney at Wealth Retreat 2023 – find out more here

In turbulent times like we’re experiencing, why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here

Why not get your bundle of E-books and resources as my gift for subscribing to this podcast   www.PodcastBonus.com.au

Some of our favorite quotes from the show:

“If you have a plan, you won’t get distracted by all the white noise.” – Michael Yardney

“You don’t want to take risks because, if you get it right, you could speed up the process, but if you get it wrong, you could lose your assets.” – Michael Yardney

“I think it’s worth remembering that many studies show that laughter has a number of health benefits. It’s not just fun while you do it.” – Michael Yardney

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