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52. Asset Rich, Cash Poor

360 Money Matters

Release Date: 08/23/2022

157. Downsizing as a Retirement Strategy show art 157. Downsizing as a Retirement Strategy

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we explore downsizing as part of a retirement strategy. We discuss why retirees often choose to downsize, such as reducing space and maintenance needs, and the financial benefits like unlocking equity from the family home to boost retirement income. The downsizer contribution allows those over 55 to contribute up to $300,000 (or $600,000 for couples) to their superannuation, providing tax-free retirement income opportunities. Lastly, we touch on strategies like purchasing a downsized property early to...

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156. Growing Your Superannuation show art 156. Growing Your Superannuation

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discuss superannuation and the strategies for growing it effectively. We address the importance of starting early, making consistent contributions, and understanding the tax advantages associated with superannuation. We answer common questions, such as why superannuation is a powerful investment tool and the benefits of tax-free income during retirement. Additionally, we highlight the importance of balancing super contributions with other financial priorities, like debt repayment or personal...

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155.  Investment Mistakes to Avoid show art 155. Investment Mistakes to Avoid

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discuss common investment mistakes that many investors make and how to avoid them. We highlight the importance of having a long-term investment timeframe, setting realistic expectations, and not getting caught up in market noise. We also emphasize the value of diversification to manage risk and the significance of time in the market over trying to time the market. Additionally, we explore the risks of not investing, the importance of controlling emotions, and the need for a clear investment...

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154. Market Wrap show art 154. Market Wrap

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast! We are back again with our monthly ‘Market Wrap’ segment. In this episode, we discuss the latest market trends, focusing on various global and domestic economic factors impacting investment decisions. We begin with a wrap-up of the U.S. market, highlighting a 4.36% increase in the S&P 500 driven by optimism around potential interest rate cuts by the Federal Reserve. We then touch on the Australian market, noting a 2.05% rise in the ASX 200, despite fluctuating commodity prices and uncertainties surrounding the RBA's...

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153. Do I Sell Property in VIC show art 153. Do I Sell Property in VIC

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discuss the current state of the Victorian property market. We explore the growing concerns among property owners about whether to sell or hold onto their properties in Victoria, driven by a recent dip in the market and policy changes, particularly regarding land tax and rental standards. We also analyze historical growth rates, compare Victoria’s market performance to other Australian states, and discuss the long-term prospects for property investment in the...

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152. Debt Recycling show art 152. Debt Recycling

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discussed the concept of debt recycling, a financial strategy that allows individuals to pay down their non-deductible debt, such as a home mortgage, while simultaneously investing to build deductible debt, which can provide tax benefits. The strategy involves using equity from one's home to invest in income-producing assets like shares. Over time, the income generated from these investments is used to pay down the non-deductible debt, while the investment debt increases, effectively converting...

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151. Should I invest or Pay Down Mortgage show art 151. Should I invest or Pay Down Mortgage

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discussed the dilemma of whether to pay down a mortgage or invest, especially in a high-interest rate environment. We emphasize that there is no one-size-fits-all answer and that the decision should be based on individual circumstances, financial goals, and risk tolerance. People should consider their long-term financial strategy, including their retirement goals, and factor in the potential impact of inflation and tax implications. While paying down a mortgage offers a guaranteed return, we suggest...

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150. Make Your Strategy Recession Proof  show art 150. Make Your Strategy Recession Proof

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!    In this episode, we discuss making your investment portfolio recession-proof, emphasizing both mindset and practical strategies. We explore what a recession entails, highlighting the importance of maintaining a stable personal budget and having an emergency fund to cushion against economic downturns. We dig into the significance of not panicking and avoiding rash decisions like panic selling. Instead, we recommend focusing on long-term goals and viewing downturns as opportunities to buy quality assets at a discount....

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149. Mastering Your Retirement Plan: Financial and Lifestyle Strategies show art 149. Mastering Your Retirement Plan: Financial and Lifestyle Strategies

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discuss retirement planning considerations, emphasizing both financial and lifestyle aspects. We explore how traditional retirement perceptions, like relying on age pensions, are evolving. We highlight the importance of budgeting and understanding income needs based on lifestyle choices and activities during retirement. We address the transient nature of retirement, where individuals might transition from full-time to part-time work before fully retiring. Lastly, we emphasize the significance of...

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148. Wealth Preservation Strategy show art 148. Wealth Preservation Strategy

360 Money Matters

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discuss investing in precious metals, including gold, silver, platinum, and palladium, and how they serve primarily as a store of wealth rather than a traditional investment. We address a common question from listeners about whether they should invest in precious metals and explore various ways to purchase and store these assets, such as physical bullion, ETFs, and investing in mining companies. We highlight the importance of understanding the liquidity and transaction costs associated with precious...

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More Episodes

Welcome back to another episode of the 360 Money Matter Podcast! One of the most common misconceptions in financial planning is the separation of the assets from cash flow. We often deal with the resistance of people when it comes to converting their assets into income.

 

While we understand the emotional attachment to the asset, especially when it comes to property, producing income to support your lifestyle is one of the most important things to enhance the quality of your life. We work with our clients to navigate these issues and make decisions that make them feel confident about their financial future. 

 

By the end of this episode, we hope to have widened your horizons when it comes to your choices in dealing with the crisis of being asset rich and cash poor. Plan ahead with your financial advisers now!

 

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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis &  Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706

 

Episode Highlights:

  • What being asset rich and cash poor means
  • Various options in converting assets into cash
  • Different types of assets
  • Why people resist selling properties
  • The importance of advance planning for your assets

 

Connect with Billy and Andrew!

360 Financial Strategists

 

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