How to Make Your Money Last as Long as You Do 9781118303856, 1118303857, 1-876627-73-5
Margaret Lomas explodes the common myth that you need to be debt-free and have a high income in order to invest. How to
457 91 513KB
English Year 2012
Table of contents :
Content: Cover
Contents
Title
Copyright
Welcome to financial freedom
Part I: Where are you now?
Chapter 1: The myths
Myth #1 --
be debt-free before you invest
Myth #2 --
the most important feature when looking for a home loan is interest rate
Myth #3 --
capital growth is the single most important feature of an investment property
Myth #4 --
you need a high income to invest
Myth #5 --
your family home is a financial asset
Conclusion
Chapter 2: Home ownership: the great Australian dream
The point
The good old days
The present
Your assets
The future. Chapter 3: What kind of financial shape are you in?The point
Measuring your wealth
Looking at attitudes to money
What type of person are you?
Making the changes --
intangibles
Making the changes --
tangibles
Where are you?
Your goals
Where can you start?
In summary
Conclusion
Part II: Before you can invest
Chapter 4: Addressing debt
The point
The principal and interest (P & I) loan
Interest-only loans
Non-traditional sources of finance
Lines of credit/home equity loans
Other loans
What should I do next?
Conclusion
Chapter 5: Taking control
The point
The power of your income. Mortgage reductionToo good to be true!
Getting support
Designing and using your budget
A model for your budget
Help with the budget
Be smarter than the bank
Conclusion
Part III: Ready to invest
Chapter 6: Buying and selling real estate
The point
Selling the property you own
Choosing the right property to buy
Auctions
Bodies corporate
What will it cost you?
First home buyers' scheme
Doing the deal
Deposit bonds
Conclusion
Chapter 7: The different types of investment property
The point
Residential property
Risks of residential property. What to look for when investing in residential propertyBorrowing for residential property
Vacant land
Rural property
Risks of rural property
Commercial property
Risks of commercial property
Retail property
Risks of retail property
Tourism property
The risks of tourism property
Proceeding with a tourism investment
Property syndication
Property trusts
Diversification
Conclusion
Chapter 8: The investment process
The point
A few things to consider before proceeding
The power of your capital
The steps to investing
Leveraging
Safety
Watch out!
Loan structure when investing. A big no noConclusion
Chapter 9: The truth about negative gearing
The point
Why property at all?
Negative gearing
Positive gearing
Property traders
Conclusion
Chapter 10: Creating an income for life
The point
Just what is positive cash flow?
An example
Loss is minimised
How does this compare to share investments?
How many properties can I buy?
Why isn't everyone doing this?
How do I recognise positive cash flow property?
Conclusion
Part IV: The 'must knows' of investing
Chapter 11: Banks and borrowing
The point
Getting the loan
The application
Your credit report.
