DiscoverMitchi Money: The Pursuit of Wealth
Mitchi Money: The Pursuit of Wealth
Claim Ownership

Mitchi Money: The Pursuit of Wealth

Author: Andrew Mitchell

Subscribed: 0Played: 13
Share

Description

MitchiMoney helps people create 6 figure passive incomes without the need for expensive financial advisor. Our software https://www.mitchi.io helps people budget and improve their spending habits while tracking their financial goals online.It's for anyone that wants to create wealth for retirement and isn't sure they are doing it the right way. Or they aren't sure what to do or how to get started! If you have been living above your means and have consumer debt (credit cards, personal loans, pay day loans etc) then this is for you.We will show you how to get your finances under control. Create the right financial structure so you can become debt free as quickly as possible and then start investing. Investing is a long term plan. Just by investing a small portion of your income can create millions over 15 - 40 years, we will show you how to take advantage of some little known strategies that the wealthy already use. Your host is Andrew Mitchell who has owned and operated both property & mortgage brokerage businesses and is currently running his own Insolvency firm, with over 15 years experience. He will help guide you through the mine fields of finance and help you achieve the financial goals that you've set out to make a reality. You can expect a mixture of advice & Q&A segments with other industry professionals and also fielding real-life questions from clients seeking help in paying debt off or looking for financial advice regarding their situation. One thing that is 100% guaranteed is regardless of your knowledge level you will learn new concepts and strategies that you can implement into your and your family's lives
20 Episodes
Reverse
Proudly Sponsored By: MiTCHi Money Budgeting & Money Management Client SoftwareYou can't invest unless you can save, and there's 6 main reason that people struggle to save money.This has a dramatic effect on peoples future financial situation as it stops them from truly creating wealth for themselves. We also cover 3 main reasons financial savings plans work to create wealth & how good and bad debts hold you back financially.We recommend when starting a savings plan, or wealth plan you complete our "perfect retirement blueprint" and also subscribe to our MiTCHi Money Software so that you can track, manage and improve your spending and investment habits.
Proudly Self-Sponsored By: MiTCHi Money Budget & Wealth Management Client SoftwareIn today's world of instant gratification we have ever increasing amounts of consumer debt. In this episode we go through what exactly constitutes:Good & Bad Debt.Also, how to structure a debt recycling strategy to pay off non-deductible debt faster using this proven strategy.Before making any financial decisions you should understand your Net Retirement Figures and implementation strategy. If you don't know yours check out our "Perfect Retirement Blueprint" that will help you set your own DIY financial plan in place.
Proudly Self Sponsored By: MiTCHi Money Budget & Wealth Management Client SoftwareWhat's the best way to structure your investments? A great question that impacts millions of people. Ownership structures are used for many things including:- Asset protection- Tax beneficial structure- Inheritance- Control- Wealth AccumulationIn this episode we discuss the main ownership structures and the pros and cons of each one:- Company- Trusts (Discretionary trust, unit trust, hybrid trust)- Individual- PartnershipEach of these setups comes with their own number of benefits and also their own type of issues. It's with understanding a strategy and what we want out of the strategy that can help determine which strategy is the best one for our circumstances.If you want to better manage your money through out budgeting and wealth software: Check it out here!If you want to setup your own DIY financial plan check out our "Perfect Retirement Blueprint Here"Note: MiTCHi money doesn't provide any type of financial advice, this show is purely for entertainment and information
Proudly Self Sponsored By: MiTCHi Money Budget & Money Management Software What should you do when you know you need to invest but don't have enough money to do so?In this episode we talk about what you should do if you find yourself with not enough money or living pay-check to pay-check.Some of the topics we cover within this episode:- So called social media 'guru's isn't the right advice- Paying off debt is investing!- Budget + net retirement figure is your starting point- Step 1: what buffer do you need- Step 2: debt reduction- Step 3: more cash buffer... what?- Step 4: wealth implementation strategy- Self financial review & repeating a successful strategy- Positive traction thinking!- Can you invest while still having debt?- Retirement Accounts (Superannuation, 401k etc)When you don't have enough money you need to be strategic, you need to be consistent, you need to ensure you follow a proven plan. If you do this, positive traction thinking will kick in and make this newly formed habit more of a priority for you.Though our Perfect Retirement Blueprint we help people develop their own special financial plan that will guide them from zero to $$$. Check it out here!
Proudly Self Sponsored By: MiTCHi Money Budgeting SoftwareMany people say a 15 year mortgage is better than a 30 year mortgage because you pay less interest.But there's many things you should look at when considering your mortgage term. Not just the amount of interest you will pay but also you should consider how it will affect you long term.In this episode of MiTCHi Money we discuss the difference between a 15 year mortgage and a 30 year mortgage and just why a 30 year mortgage is better in nearly every way to a 15 year mortgage.Before you start your investing journey do you know your figures? Do you know how much income you want in retirement?Do you know how much capital that will be?Have you worked out what your net worth needs to improve by each month?Have you got an implementation plan?Do you know your investment risk profile?Work it all out with our "Perfect Retirement Blueprint" Click here!
Proudly Self Sponsored by: MiTCHi Money Budget & Money Management APPListen in as Andrew answers some of the common personal finance questions that come up.Creating wealth comes from doing small things well, consistently. being deliberate and consistent in your approach gives you a super edge to creating wealth for yourself and your family.If you want our workbook and training to set your own financial plan you can check out our Perfect Retirement Blueprint course at:Perfect Retirement BlueprintWhat we will cover today is:- How bad is it if I don’t pay off my credit card every month?- What does a budget really look like?- How much debt is too much debt?- How much can I spend on entertainment / fun each month?- Do I really need private health insurance?- What age should I start saving for retirement?- How much money should I have in my emergency fund?- I'm moving in with my partner, how should we handle our finances?If you are looking for a better way to set your financial goals and manage your money, check out our budget app at MiTCHi Money
Learn what you need about cashflow property investing: Cashflow property investment strategies are some of the most powerful strategies that people can take advantage of.Some of the benefits:-          Using the cashflow strategy to fast track paying off it’s own investment debt to provide greater passive income faster or creating equity faster to buy other assets-          Using the cashflow to pay off a PPR faster or any non-deductible debt-          You can use the passive income to diversify your investments and put the additional surplus cash into other assets-          You can use the passive income to supplement your lifestyle-          Or you can use it as an emergency buffer in times you need additional cashflow-          Fantastic strategy when rates are on the increase as it’s still affordable-          Usually have strong rental demand due to lower pricing rent than capital cities Ok so they are the pros – but what about the cons: -          Good cashflow properties are harder to find than generic properties on the market-          You need to do more research because to get the rental yield you most likely need to be outside of main capital cities so you need to have confidence in the area-          Depending on how many dwellings on one title, financing can be restricted as some banks don’t like doing multi units so the lvr might decrease down to 80% or even 60% if you’re perhaps thinking 6 units on one title.-          You are taking the cash now to utilise as a strategy or provide you income, but you aren’t likely to get the highest capital growth.-          Might need some TLC and small renovation / cosmetic improvementTo check out the video on the exact example of buying 2 properties and having $108k passive income you can check it out here:https://www.youtube.com/watch?v=4ephCPRYWj0
Today we discuss what Dividend Reinvestment Plans (DRPs) are plus we cover the following:-         How do dividend reinvestment plans work?-         Advantages for the investor-         Advantages for the company-         Tax implications of dividend reinvestment plans-         When are they are good idea and when are they a bad idea?Many people aren't 100% what DRPs are and how they work and whether they are a good fit for them. This episode will help you understand the benefits and also situations on when you shouldn't participate e and also how to calculate the tax component of DRPs
We explain the main things you should be looking at when you are trying to create wealth in your 30's and 40's. It is 100% not too late to start your retirement planning. Links we refer to in this episode of our podcast:====================================== The Financial Planning 4% wealth rule sucks - our video on why:https://www.youtube.com/watch?v=g6fTEjBfsVo&t=103s======================================You can check out our cashflow investing strategy which shows how you can pay off a cashflow property portfolio within 20 years and generate $108k in income.https://www.youtube.com/watch?v=4ephCPRYWj0======================================We have put together what I feel is the #1 wealth course – it’s called “The Perfect Retirement Blueprint” It does all the above and gets you set up to ensure you create wealth that matches your goals.Https://www.mitchimoney.com/perfect-retirement-blueprint ======================================Ontop of that if you are looking for something to track your financial goals, money management and track your spending and net worth automatically our MiTCHi Money software is designed to work in with exactly hitting your Net Retirement Figure and is the only software available that works exactly this way and makes it a priority!https://www.mitchi.io
Join us for 4 main points we cover:- Capital growth and cashflow investing which directly relates to index fund investments- Why inflation resistant investments need to be part of your strategy- The difference between investing at 20 yrs, 30 yrs & 40 yrs of age and how much it costs you to invest each month- Why you need to start with calculating your net retirement figureMiTCHi money helps people create massive wealth portfolios without the need for expensive financial advisors, who take your money and give you sup par returns.You can check out our financial goal, money management & personal finance software here:https://www.mitchi.ioIf you want to create massive wealth you should check out our perfect retirement blueprint wealth course:https://www.mitchimoney.com/perfect-retirement-blueprint
Today is the 10th episode of our MiTCHi Money Podcast.Indexing has many great benefits. Some of those are:- Low fees- Diversification- Low Tax- Low EmotionThese 4 things help make indexing a really effective investment. Who knew that having human emotions can actually detriment your investments..Ever hear of FOMO - Fear of Missing Out? FOL - Fear Of Loss?These are big drivers behind decisions people make with investing - even if they don't think they are affected - guess what... They are!What we will focus on in today's podcast is: What is an index fund?Index fund historyWhy are index funds popularGlobal Index fund Investing Examples of different countries index fundsExpense ratios & advisor fees
In episode 9 our resident finance man Andrew Mitchell explains what the best way to get started investing is.There's a few different things that he focuses on and they are:1. Property2. Index Funds3. Investing in yourselfWhen you start your investment portfolio you want to start with things that are proven, that allow you the best chance of making money over the long term. Also, steering away from high risk options that can weigh you down for years.There's so many people that don't know where to start - if that is you.Then where to start is right here to gain some additional knowedge so that you can make the right decision when going into the investment space for yourself.There's not just 1 perfect solution, there's a few options that all can help you. It comes down to your current situation and your financial goals, however one thing is for damn certain - these 3 are the proven things to invest in to become wealthy!Gamble for fun, not with your future!
The traditional investment risk pyramid only focuses on one element of risk, it doesn't take into account the additional 5-6 other more important risks when you need to look at investments for long-term wealth creation.Our resident finance guru Andrew Mitchell will break down how the traditional model is outdated and why when you're looking for low-risk long-term investments you need to factor in 3 other risk factors.In this episode we will discuss:- Investment Volatility Risk- Investment Liquidity Risk- Investment Horizon Risk- Investment concentration riskPlus the important;- Inflation Risk- Fee Risk- ROMO RiskSmall things that seem like they don't have a large impact can actually cost you Millions in retirement. So you should take note of them now so that you're not impacted.The concept of creating wealth isn't complicated. However, there's so much confusion in the information that presented. So, it's little wonder why people get confused when trying to determine the right investment for themselves.This confusion helps the financial advisor industry to bamboozle you into thinking it's more complicated than it is. And, they then pry on the fact you "need" a professional to determine risk profiles, portfolio risk allocations etc. However, the truth is that 92% of advisors don't outperform the market so they are costing clients billions of dollars in retirement yearly!It's the scam of the centrury! 
Is a financial planner worth their money?The evidence states No. They aren't, they consistently get outperformed by the market and there fees do not equate to value provided.Our resident finance guru Andrew Mitchell calls it the layer cake of fees.Financial Advisors consistently promote managed funds which 9 times out of 10 they don't outperform the market. They have higher costs and then the financial advisor then takes their clip.Should an advisor charge a fee to provide you with an underperforming investment portfolio? Well that's how it works.Even if they lose half your investment portfolio you still have to pay them.Index fund investing defeats actively managed funds 95% of the time.
People always ask what the secret to creating wealth is.. Well, in this episode we go through the 4 things you need to be doing to create wealth for your retirement. This concept is simple. But simple, does not mean it's easy. Our resident Finance Guru Andrew Mitchell explains each of these 4 items you need to be doing and also gives examples on how these work to create multi million dollar retirement portfolios.If you are living pay check to pay check - this is for youIf you aren't sure where to start - this is for youIf you have debt - this is for you
Have you ever wondered how much you really should be investing each month to reach financial freedom in retirement?Our resident finance guru Andrew Mitchell explains how you can easily calculate how much you need to be investing each month in order to reach your Net Retirement Figure.We also provide you with a free retirement calculator that is rarely seen available so that you can work out based on how much you want in retirement per year what you need to be doing today to get there.We discuss 3 important ways you need to be aware of regarding your financial future.If you have ever wondered exactly how much you need to be investing to grow your portfolio this is the episode for you.
The majority of people have been taught about retirement the wrong way. They think of retirement in terms of age.I’d like to retire by 55 or perhaps 60I only want to work for another 15 yearsOr, I don’t think I could work past 65… Thoughts like this don’t really help us to identify and target our retirement goals.It's all focusing on age rather than the important aspect of money. If you want to retire it's not at a certain age it's once you reach a certain level of financial independence.Our resident Finance Guru Andrew Mitchell helps to explain some of the problems with old conventional retirement thinking, and outlines the most useful way to determine how much you need in retirement.You Net Retirement Figure (NRF) is a balance representation on the amount of income you want per year in retirement. It's designed to help you know how much you need to have in your retirement fund if you want to life your desired lifestyle in retirement. #dollarbydollarshow#allthingsfinancialclub#retirementinvesting
A question that many people ask is should they diversity into more than one index fund?Andrew explains the reason that you shouldn't and that the latest index funds allow you to diversify and actually allow you to invest into more than one index at a time. The problem is that as the availability of information becomes easier so does the number of different products and assets you have to choose from.This creates misunderstanding into what people should actually be investing into and also makes the entire decision making process more tedious.There are 2 components when looking at an index fund that suits your needs:How much can you invest, and how often can you make additional contributionsWhen do you need the money (investment timeframe)With these 2 questions you can determine the right type of index fund based on the risk/reward and investment duration. 
If you are looking at starting to invest and want to increase your knowledge on index funds and ETF's then this is the episode for you.Andrew our resident finance guru explains what the differences between an index fund and ETF are and some of the pro's and cons of each. We believe index funds are the single best investment choice for every day people wanting to grow their wealth. This is due to their over 100 year return record and the diversity and low risk they have when you compare to investing in direct stocks or equities. 
The dollar by dollar podcast is designed to help everyday people become millionaires. It's for anyone that wants to create wealth for retirement and isn't sure they are doing it the right way. Or they aren't sure what to do or how to get started! If you have been living above your means and have consumer debt (credit cards, personal loans, pay day loans etc) then this is for you. We will show you how to get your finances under control. Create the right financial structure so you can become debt free as quickly as possible and then start investing. Investing is a long term plan. Just by investing a small portion of your income can create millions over 15 - 40 years, we will show you how to take advantage of some little known strategies that the wealthy already use. Your host is Andrew Mitchell who has owned and operated both property & mortgage brokerage business and is currently running his own Insolvency firm, with over 15 years experience. He will help guide you through the mine fields of finance and help you achieve your financial goals that you've set out to make a reality. You can expect a mixture of advice & Q&A segments with other industry professionals and also fielding real life questions from clients seeking help in paying debt off or looking for financial advice regarding their situation. One thing that is 100% guaranteed is regardless of your knowledge level you will learn new concepts and strategies that you can implement into yours and your families lives to become a Dollar By Dollar Everyday Millionaire. Or goal is to make saving & investing cool.
Comments