What a beautiful financial future looks like
what this accountant thinks anyway…
Have a good income
- Whether you are in business or working having an income is great
- Find what you love to do
- Set your own big bold income goal of ….
- Its not what you earn but what you save
- Make chooses in what investment are for you such as buying and keeping shares every year
- What do you want to save each year …. And for how many years…. I like 25k per year for 20 years at 5% should get you $1m
Have a home
- start owning a home
- do you want to own you home completely?… When by?
Have a stash for a rainy day
- always keep some money to enjoy your life
- allow for children growing, education and futures
- keep some money in case sudden financial or medical change. How much are you going to keep?….
Use negative gearing, it is what the rich do
- only one or two investment properties for long term hold with high debt levels. I am not saying to not own more properties but just not to have high debt investment properties of more than two properties.
- not only is the tax system encouraging this by giving you bigger refunds, your tenant is paying most of it for you and you are planting an investment tree which will add to your wealth
Get behind your superannuation
- Super is blessed with a low tax rate of 15% before you retire and 0% tax on earnings after you retire
- So it is a great place to accumulate wealth whilst staying in a low tax environment
- Aim high, become a self funding retiree with saving and super of $1m so you can retire at the age of …
Plan for anything bad
- have an updated will
- consider and review your personal insurances
- leave papers outlining your financial affairs in case anything happens to you.
- Protect your assets
Lastly buy more fun stuff
- Holiday houses and travel
- Fancy cars
- When older no point in being the richest person in the graveyard