Forum Replies Created
Great Effort keep us posted
Wasp
**************************************************Its not what you earn but what you do with what you earn
Be good to your Mother..
Wasp
**************************************************Its not what you earn but what you do with what you earn
Dont believe its possible here
Wasp
**************************************************Its not what you earn but what you do with what you earn
THE PROPERT REVOLUTION BY JENMAN
Interesting reads
Wasp
**************************************************Its not what you earn but what you do with what you earn
Wasp
**************************************************Its not what you earn but what you do with what you earn
THATS what i want LOTS of pictures explaining things in laymans terms. Moreso i want a step by step book on the day to day running requirements [biggrin]
has anyone read this one (looks interesting so far)Coastymike can you recommend any?
Successful Trust Management
$31.07 ex GST
$34.95 incl GST**REVISED 2005 EDITION**
The objective of this book is to provide easy-to-understand information about how to successfully set up and run a trust. It is also a guide for those people who have a trust and want to make sure it is run properly and successfully on their behalf.
Successful Trust Management explains how to accomplish important financial objectives through establishing a trust as part of an asset protection programme. By doing this, you can achieve financial safety and protection, both during your lifetime and for those you wish to pass your successes to.
Drawing on many years of experience as a trust lawyer, Ross Holmes gives explanations of the parties involved in setting up a trust, how to prepare a trust deed, what the different parts of a trust are and how to successfully structure a trust. his descriptions are supported and illustrated with the relevant court cases that guide trust law in New Zealand and Australia, as well as giving information about where to go for further information.
or
Success with Trusts
$26.62 ex GST
$29.95 incl GSTSuccess with Trusts explores and explains the reasons for setting up an asset protection plan that utilises trusts, resulting in financial safety and protection both during your lifetime and for those you wish to pass your successes to. This book gives the keys to successful asset protection planning, giving advice and guidance on how to succeed through identifying risks, planning now, making your asset protection work, making your trust work, and success through recording and regularly updating your objectives
or this one (I have Dales books, but am looking at these as well)
Sham Trusts
$26.62 ex GST
$29.95 incl GSTEveryone with a trust will need to purchase this book.
Trusts have become increasingly popular over recent generations as a result of the expansion in personal wealth which has occurred during that period. If a trust is established and administered genuinely, as part of a comprehensive asset protection plan, it will assist you to achieve your objectives and prosper.
Many trustees are unknowingly sitting on a time bomb as a result of the failure of advisors forming trusts to provide practical guidance on trust law, the running of trusts, or the duties of trustees. This has resulted in many trusts being either shams i.e. invalid, or a series of sham transactions. The sad fact is that in many such cases the advisors and trustees do not realise that they are shams.
The myth that independent trustees must be appointed, is continuing to be expounded by advisors, resulting in further sham trusts or transactions. The same principles used to set aside trusts as shams are used to set aside companies as shams. Yet the advisors who maintain that independent trustees are necessary for credibility in the case of trusts, do not express the view that independent company directors are necessary for credibility in the case of private companies. The cases establish that far more trusts with independent trustees have been set aside as shams than trusts without independent trustees. This has occurred in many cases because of the failure, in practice, of many independent trustees to genuinely take part in decisions involving the trust, and a failure on the part of trustees to understand what a trust is, and how to exercise the duties of trustees. This in turn has often been caused by the absence of practical guidance from the advisors setting up the trusts.
Many trusts are not set up as part of an asset protection plan with a strategy and a method of achieving that strategy. Just as business plans and investments plans without a strategy will fail to achieve the desired objective, so do trusts formed without an asset protection planning strategy.
Wasp
**************************************************Its not what you earn but what you do with what you earn
My first point of call would be to get 3 local real estate agents to give you a ball park valuation, remembering the highest price usually just wants your business, so split the difference, you then have something to think about and if you wished you could get a registered valuer to appraise the property, the next hurdle is when you decide you want to sell
Wasp
**************************************************Its not what you earn but what you do with what you earn
People coming in = more potential tenants and better economy for the town
People leaving the town in droves = less potential tenants and over time everyone in the town will suffer
my veiw
Wasp
**************************************************Its not what you earn but what you do with what you earn
Sure
The same as any other Investment Loan
Wasp
**************************************************Its not what you earn but what you do with what you earn
Thanks Rob
Loans aren’t crossed though.
Payrise would help somewhat [biggrin]
Any other Tips or Unusual Strategies that you’ve come across such as I’ve mentioned above?
Have you heard of anyone Implementing the above?
Wasp
**************************************************Its not what you earn but what you do with what you earn
Originally posted by 30Ch:No, its not correct to say that for all legal purposes the trust is the owner. The trustee is the legal owner – that is why, for instance, the name of the trustee appears on the title deed, and why if you are suing a trust you sue the trustee
I thought as Cata explained the Trustee just controls the trust..however, the apointer can sack the trustee and replace them at any time..that being the case, how can the trustee be the owner 30Ch?
Wasp
**************************************************Its not what you earn but what you do with what you earn
Originally posted by C2:Hi Calvin,
this is not my area of expertise but I’m always surprised when someone says they could’ve got a better deal elsewhere. how many times have you seen an item cheaper in a shop elsewhere after you just bought that item. Mortgage brokers are only human and will try to find the best deal for you but not everyone will always agree on what is the best deal. If you gave the same info to 10 different MB you wont get all of them agreeing on the same lender what you will get is good advice and what they think suits your needs best.C2
Rich in happiness and money is better than rich in money with no happiness.
It’s always the way isn’t it..you buy something then see it cheaper the next day..[glum2]
or
You don’t buy it, then when you try to find one they’re all gone..[glum]
However..a 1% saving on a 5% loan is a 20% saving isn’t it?
How does the comparison rate thing work..is it similar to the Annualised Average Percentage Rate or some such thing?
What is the easiset way to compare loans at their most basic from an Investors perspective?
And how come the banks here in Australia can rort us with fees and costs when compared to the banks in places like the USA?
Are Credit Unions a better place for your savings?
Wasp
**************************************************Its not what you earn but what you do with what you earn
[biggrin][jerry]
Wasp
**************************************************Its not what you earn but what you do with what you earn
asset protection, tax planning, retirement, super, income , looking after your family and building your wealth faster..
any more?
Wasp
**************************************************Its not what you earn but what you do with what you earn
How about ideas like this?
or do you want more realestate type ones?
What I could do was get the most out of what we had. The basis of this
strategy is to get ‘One More’ use out of everything. The best way to do
this is to measure everything. Then experiment with the least amount
of
product required to do the job without compromising the effect desired.
Once this is identified it becomes automatic.For example – by measuring the clothes washing detergent we get one
more
wash out of every bottle! I use the lid of another cleaning product
that
holds the exact amount and this is left conveniently with the clothes
washing
liquid.This may sound trifling, but if you do this over a year it adds up.
The
savings you make on washing liquid alone (based on five washes each
week
for 52 weeks of the year) amounts to over four bottles a year – just by
using the ‘One More’ strategy!If you do this for EVERY product in our home, the savings add up to the
equivalent of a free hamper of groceries by the end of the year. The
bonus
is, practised over years this strategy compounds just like compounding
interest. Eventually there is that little bit extra in the grocery
money to
buy a product in bulk.This saves on the per volume cost of the product and means that if I
continue
to practise the ‘One More’ strategy, it won’t take as long until there
is
that little bit extra again to buy the next product in bulk, and so on.We try to apply the ‘One More’ strategy to everything. ‘One More’season
of
wear for clothes, even if it’s only worn for gardening. ‘One More’ use
when
an item is no longer fit for what it was bought. For example – broken
crockery becomes mosaic!What we do not apply the ‘One More’ strategy to is servicing,
maintenance and
repair. These activities are time sensitive and it is a false economy
to
wait to attend to such things.Wasp
**************************************************Its not what you earn but what you do with what you earn
Whats a holiday..is that like an extra long weekend or something? you wont survive long if you take those and how do you pay for them?
Wasp
**************************************************Its not what you earn but what you do with what you earn
I’m up for the cult idea as long as we’re not running around naked in the backyard screaming like monkeys, whilstdoing rebirthing in the koi pond..it’s to bloody cold.
If it’s just a group of sensible people sharing knowledge, ideas and experiences in how to get a head start for themselves and their families and building a team of contacts, then, i’ll think about it
ya gotta laugh dont ya
Wasp
**************************************************Its not what you earn but what you do with what you earn
I’d suggest you visit REIWA and do some research on suburbs..
Its not what you earn but what you do with what you earn
