How to Make Your Money Last as Long as You Do by Lomas, Margaret -- Read -- Imperial Library of Trantor

Index

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 reduction Too 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 property Borrowing 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 no Conclusion

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 Other bank accounts which may come with your loan Conclusion

Chapter 12: Taxation and property

The point Income tax — your biggest expense Investments What tax deductions are there in property? Who should own the investment? Capital gains tax (CGT) Good and services tax (GST) Land tax Social security and retirement Conclusion

Chapter 13: Wealth protection

The point Why insure? Life insurance Trauma or crisis cover Income protection Health insurance Home and contents Other insurances Car insurance How much do I need? Your will Conclusion

Chapter 14: The gateway

The steps

Index About the author

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