Oct 2, 2017
This week we learn some
investment lessons from the most successful investor in the
world.
In my mindset moment, I’m going
to share some quotes from Warren Buffett.
My special guest today is Ken
Raiss, director of Metropole Wealth Advisory. Ken answers a
question about the best structures for owning an investment
property.
Learn to Invest From the Most Successful Investor in the
World
Warren Buffet's Philosophy includes:
- Adhering to a proven investment
strategy.
- Being
a counter cycle investor.
- Specialize not diversify.
- Being
a value investor.
- Take
a long term view and invest for the long term.
- Don’t
invest in anything you don’t understand.
- Manage your risks.
- Bad
times will come and go with surprising frequency.
Mindset Message: Warren Buffett
Quotes
- The
difference between successful people and really successful people
is that really successful people say no to almost
everything.
- What
we learn from history is that most people don’t learn from
history.
- Diversification is protection against
ignorance.
- You
only have to do a few things right in your life as long as you
don’t do too many things wrong.
What are the best structures for owning an investment
property: Ken Raiss
- Decide your structure well before you
buy
- Buy a
family home in your personal name
- For
investments ask what you expect out of it
- Trusts can be an option depending on what you
want
- A
self-managed super fund is a form of trust with tax benefits later
on
- Ask
what your primary source of income is when deciding tax advantages
for the type of trust you choose.
- Property trusts for personal and discretionary
trusts for businesses
- Trusts with family lineage clauses
- Testamentary trust set up after death as part
of a will
- Specific advice for your particular
circumstances are ideal
Links and resources:
Quotes from this episode:
“If you focus on sound financial
strategies with a long-term, big picture goal, you will be able to
gain financial independence.” Michael Yardney
“Learn the habits of people who
are really successful.” Michael Yardney
“To become an expert, you have
to do the same thing 100 times not 100 things once.” Michael
Yardney
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