Brutally Honest Advice for Australians Wanting Financial Freedom

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Опубликовано:

22 июн 2024

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Комментарии : 72

@LSBContractingLLC 4 дня назад

As we witness the current economic landscape, it's becoming increasingly clear that we're entering a recession. These times can pose significant financial challenges.

@ZhannaDavidova 4 дня назад

I'd be retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, learn around $130K per year but nothing to show for it yet.

@cherylhills3227 4 дня назад

You should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/planner.

@rodgertim2881 4 дня назад

On your own you could seek out several of these financial advisors, make sure the one you settle on is a fiduciary and not a fake. Know what you're getting out of it and see if your targets can be met.

@ZhannaDavidova 4 дня назад

How do i find a good finance advisor? How do you know if they are trustworthy and competent.

@LSBContractingLLC 4 дня назад

I've been consulting with Eric Paul Elmer He specialize in high-end investments and have provided me with valuable insights into market trends, potential appreciation, and even tips on maintenance to preserve the property value.

@LobeznoMeneses 7 дней назад

I appreciate you, even as a property investor, being honest about changing some of the things that make property investment too lucrative in order to make things more affordable

@MathewYoung561 7 дней назад

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

@MINDYBLEICHER 7 дней назад

The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off

@ANDREWJERDEE 7 дней назад

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

@CarlNelson-fu9np 7 дней назад

Impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now.

@ANDREWJERDEE 7 дней назад

Layan Talia Chokr is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@CarlNelson-fu9np 7 дней назад

My needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it.

@williamcrossan9333 7 дней назад

Thanks for the vid!

@williamcrossan9333 7 дней назад

Yeah it's a tricky one at the moment. I suspect Brisbane and Perth and some regional markets have further to move. But prices are now so high, and have risen so fast. Historically at least, when Brisbane has done this (70% house price rise since 2018), it has stagnated for years afterwards. And as it stands, entry costs, exit costs, and holding costs are well in excess of the rental return, for a 'quality' asset anyway. I feel it's an uncomfortable time to invest. Not trying to be a Naysayer, but it was so much better to invest 5 years ago.

@malkov0001 7 дней назад

Property prices in Sydney, Melbourne and Brisbane doubled (on average) every 10 years before GST was introduced. I don't see how changing the GST rate will make a difference. Higher GST rates increase the cost of living and hurt the poor the most.

@lukewiles1 7 дней назад

Interesting... what do you think would be a better way to better manage Australia's economy?

@MyTk89 6 дней назад

@@lukewiles1simple, focus investments on productive areas, namely STEM- and not just at an educational level. But rather at a regulation and legislative level that makes it favourable for people to be innovative. GST increases are horrible [assuming that is what you advising]. We already taxed on everything...why increase taxation more...people will struggle even more. Especially lower class, as @malkov0001 stated.

@BettyPollard12 6 дней назад

Having a good plan towards breaking free financially is absolutely a good thing there are quite a good number of plans one can actually take pending on your clearity and how convenient/conversant you are with it. Nevertheless building a better tomorrow demand absolutely concentration, commitment, diligence and experience from either you or someone mentoring you on how to achieve set goals, as a matter of fact many successes still ballsdown to a good mentorship and guide, with awareness like these it shouldn't be any more a problem to compell one but rather encouraged one to make a good plan toward the future.....managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Kerrie Farrell, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.....

@PatchettStalls 6 дней назад

I appreciate the professionalism and dedication of the team behind Kerrie’s trade signal service...

@CsokiBabi 6 дней назад

As a beginner, it's essential for you to have a mentor to keep you accountable....

@TedStalets 6 дней назад

Kerrie Farrell program is widely available online..

@rogercav40 6 дней назад

Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience...

@LeightonCorrigan 6 дней назад

I rather invest my money on crypto. Bitcoin trading is great unlike the stock market and other financial markets, bitcoin has no centralized location , since it operates 24hrs in different parts of the world...

@MyTk89 7 дней назад

I appreciate you sharing your thoughts on tax. However, your stance is very critical on a system that enabled you to establish yourself. Without current taxation regulations, you would not have been able to move beyond your 1st investment. So, my question is, if you think property investors should pay more tax, why don't you make voluntary contributions to the ATO? You know can do that? I just think that when someone states a view on a topic they should back it up.

@lukewiles1 7 дней назад

Idea is to be constructive not very critical on the current system. Where did I state property investors should pay more tax? I spoke about high net worth home-owners potentially paying CGT and potential GST reform. I pay plenty of taxes between PAYG, GST, Income tax, Company Tax, CGT

@MyTk89 6 дней назад

Thanks for relying and I acknowledge that I am just behind a keyboard, while you putting yourself out there. So just want to state non of this personal, just like a good debate. You mentioning negative gearing and taxation on RP followed by saying the system is broken, all the same breath.. .implying that your view "or advise" is that you think the these aren't doing a service to us Australians and the economy. Yes, you mentioned playing with GST. Didn't specify if you want it increased or applied to more items or removed from items, you could clarify that statement so we get a better understanding of what your advise is?

@lukewiles1 5 дней назад

That would stimulate GDP, Growth and inflation. How would this assist in reducing cost of living pressures and asset prices?

@MyTk89 5 дней назад

@lukewiles1 not sure what you stating here. But if I dwell into your statement that you are reducing asset prices, it goes back to my original statement- this system helped you profit [well done, I admire anyone that profits from the free market], so why would you advocate a reduction in asset prices? Without the growth, you would not have been able to scale.

@Thisguy152 7 дней назад

What do you think of eddie dilleen's strategy?

@lukewiles1 7 дней назад

Not sure what his specific strategy is. As far as I understand it, lots of cheap property houses, townhouses, units in trust structures to extend borrowing capacity and grow the asset base that way. Concern is tenant headaches and low value properties maintenances costs can chew up cash flow

@ribama1 7 дней назад

Luke if people have to pay capital gains tax on their home if they sell it, way less people will sell... beware of unintended consequences. The only policies that will work are those that increase supply. Open up more land. Allow smaller lots. Cut red tape.

@lukewiles1 7 дней назад

Good point. Think the biggest issue will be builders and certification. Way too many hoops to jump through to bring a new house to market. I've just been through the process of a raise and build and it takes weeks/months for DA & BA approvals

@ribama1 7 дней назад

@@lukewiles1 Yes I should say that you’ve inspired me. I’ve bought a house in Indooroopilly and will add an extension + pool and hopefully granny flat.

@lukewiles1 7 дней назад

@@ribama1 Exciting stuff. Good luck with the project!

@RizzlaGP 6 дней назад

Capital gains exemption is fine. Just because you made money on your PPOR doesn't mean you actually made money because any house you want to buy afterwards will also have risen in price. What needs to be scrapped all together is negative gearing to stop people treating property as investments when properties should be treated as a place to live.

@lukewiles1 5 дней назад

That's a good way to think about it! The home is inflating largely relative to other properties. They have to keep negative gearing otherwise there will be no rental stock, as lots of investors would pull the pin. Government doesn't want to supply housing, they're leaving it up to the private market

@RizzlaGP 5 дней назад

@@lukewiles1 if they pulled negative gearing and investors bailed then property prices might come crashing back down to something reasonable like other parts of the world. It just encourages speculation on real estate and tax minimisation through doing so. I mean I make decent coin and so does my wife and we have a million dollar property but the people growing up in Australia are screwed. They won't buy homes or have children and the only way government will solve the upcoming population crisis is through mass migration and then Australia will no longer be Australia which if you've been to Garden City lately is already fairly evident...

@RizzlaGP 4 дня назад

@@lukewiles1 also capital gains tax wouldn't be fair on your primary place of residence if you've spent money maintaining and/or renovating the property to improve its capital value.

@YouTubekaaranda 7 дней назад

investing south Ripley? your comment pls

@lukewiles1 7 дней назад

too much land supply

@sydney8382 7 дней назад

hey luke, what faith do you follow

@lukewiles1 7 дней назад

I follow Jesus

@sydney8382 6 дней назад

@@lukewiles1 yeh same 👍

@dekumutant 7 дней назад

Having a dad that teaches and helps you flip houses would be a great start LOL

@thedon9670 7 дней назад

You have Daddy Luke :)

@lukewiles1 7 дней назад

Daddy is here to help

@lukewiles1 7 дней назад

All jokes aside, I have an amazing Dad who's taught me a lot about property & helped us on renos.

@OilBaron100 5 дней назад

Taxing people’s gains on their own home is economic theft. What are you, Bill Shorten?

@lukewiles1 5 дней назад

I had only suggested taxing the rich haha ie. Taxing Massive capital gains $2m+ which could then be indexed.

@OilBaron100 5 дней назад

@@lukewiles1 Labor generally don't index their taxes that they put on us. They implement them and then leave them in place so that over time, inflation means that we all have to pay it. Think of the Superannuation $3M cap (not indexed) and also the $25K/year cap on superannuation-concessional threshold which Kevin Rudd implemented way back in 2007 which remained unchanged until about two years ago. Bill Shorten wanted to tax people's homes and fortunately lost an election over it.