Jeez I hate these BS examples. The true power of Offset accounts are not in the piddley amounts of small change you might save over a time period but the ability to keep capital unencumbered so it can be deployed quickly with sensible amounts of leverage to generate a return.

The above example is nominal not real because it fails to include the lost tax deductability which in effect reduces the end result considerably. Scale for inflation and the savings wouldn’t buy a coffee once a week.

People also need to realise that banks offer products usually in conjunction with other products. Mortgages that allow offset accounts can incurr higher rates, fees and other charges which can further erode the nominal offset rates.

That is not a goal. It’s just a wish. A goal has to be specific. Non specif goals engender non specif plans which almost always mean you fail to achieve your goal.

A goal might look like:

I want to achieve a net income from property assets that provides a minimum annual gross income of $250K by year 10.

Once you have a clear goal you then set objectives that are subsets of the goal:

I need 20 properties that average 15kpa net of expenses.

and so on.

Once you have a goal and stepping stone objectives you can then turn your attention to an over arching strategy. After that you develop tactical plays to accomplish your strategy.

Strategy: I will shoot for 3 positively geared properties within the first 5 years and 7 in the remaining 5 years
Tactics: I will look for properties that have unrealised CG that can be realised through renovation

You can have multiple strategies. Goals, objectives, strategies and tactics are never fixed. You change them when you need to. For example you might hit your objectives ahead of schedule or behind schedule. That will necessitate some alteration to scheduling and/or a revamp of strategy to accelerate if you get on a role or completely alter a strategy if you run into a wall

It helps to build timelines and schedules into everything. This keeps you focused, on track and provides milestones to evaluate your progress.

You might want to include personal goals like; I want to be conversant in option plays by year 2 and conclude an option deal by year 3.

You could do a SWOT analysis on yourself. Strengths, Weaknesses, Opportunities and Threats. Work to your strengths and develop strategies and goals around those. Identify your weaknesses and work to redress them. Opportunities might be relationships that already exist that you can leverage. Threats might be personal debt, employment etc.

The better you understand your abilities and limitations the better you can effectively develop a plan that has a statistically much better chance of success.

Do you guys not read the date on these threads and posts? 2004 !!!

Failure rate in these types of commission based occupations is fairly high. Less than 5% after 5 years on average.

If you look at lost earnings comparatively over that period you're looking at around $250k plus opportunity cost. Together that could amount to around $500k.

Business consultancy/advisory is far more lucrative and with lots of upside potential. FP/MB is a slow grind and growth is glacial by comparison. You can buy into business advisory consultancy types of businesses on a franchise basis. Do your DD as you would with anything though. You should be able to start at around $150k and work up to around $500kpa within 5 years. Depends on what level/size of business you work with.

You're forgiven. I have an Android smart phone and tablet as well as 2 top end laptops all running various browsers. They all have issues with this dog of platform. What should be a relatively easy task but takes twice as long and requires a few additional skills to be competent at working with this dog of a… I mean text box.