Property investing for your pension?

Tim says:

I would definitely advocate using property as a vehicle to enhance your pension,or to even help you retire early. Here’s an interesting viewpoint courtesy of the BBC, part of their "Citizen reporter" series

click here >>>>>>>>>>>>>

How To Run Your Money – The Simple Guide To Financial Control

The following system for controlling your money will work for either people wanting to get started on their wealth creation journey OR for someone just starting out in business and wanting to keep a grip on their cashflow.

One of the first thing I get our Money Gym clients to do is to start thinking of their personal finances like a business – you would be amazed how many folks run their business finances well but their personal finances like a nightmare!

And how many small businesses don’t run their finances at all!

Then wonder why they go bust! My business bank manager, Mike Murray from Nat West in Worthing, says that he’s seen many a profitable business go under from lack of cashflow management.

The challenge I have found, as a small (and now larger) business owner is the lack of information on which to make financial decisions, the retrospective nature of most book-keeping and the opacity of most book-keeping software.

This method below works a treat for both business and personal finances and can be run on a very simple spreadsheet….

Read more..

From A Sun Lounger In Spain

Debbie Bissett says:

"Nicola,

Just wanted to post something in support which I hope might spur people on to take action!

I’m writing this sitting on a sun lounger by the side of the pool in Purto Portals, Mallorca having just spent the day having lunch at Cala D’or Marina with my boyfriend Mark. (He’s now in the pool!)

Why I am telling you all this? It’s definitely not to make everyone jealous but it’s in support of the FAQ no 1 on Nicola’s list.

Find a niche to market on the internet, make it work, THEN move on to number 2, 3, 4 etc etc (Plus all the others were spot on as well!!)

I’ve done this with…

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FAQ: Getting Started Online #2

Challenges in bold:

Finding a niche that hasn’t been done to death and coming up with sufficient material to make a great product for that niche.

You dont’ need to find a niche that hasn’t been done to death, find one that you are interested in.  For example, I work in the fields of wealth creation, internet marketing and working from home.  One could argue that they have been done to death, but I feel I have something to add and offer and the bonus is that these markets are self renewing.  There will always be more people coming through who want good products or services.

You don’t need to come up with sufficient material, find good stuff that you rate that has been created by other people and market that in return for a decent commission.  You get started a lot more quickly that way.

Mastering Google Adwords without spending a fortune.

I mastered Google Adwords using two books (recommended on the client resources page, and the Google tutorials.  Total cost around $150.00.  Always set a daily budget so that you can’t overspend by accident while you are learning!

Can I get going with very little or no money as capital?

Read more..

FAQ: Getting Started Online #1

I struggle to find an idea to “make my fortune” with. 

First challenge and a very common thought for many internet new bods.  You don’t need an idea to make a fortune with, you just need an idea to make a small profit with.  Get one idea making even £10 extra a week, automatically, then move onto idea No 2 to make a profit with.

I seem to try several things and always seem to end up with “another one of my bright ideas” that didn’t work

They either don’t work because you are not sticking at them long enough, or you are not doing the right things, or they are the wrong kind of ideas.  This is why you need a support group and/or mentor – to guide you and stop you spending time on things that we know “don’t work”.  You have found both by joining the AMM Home Study System.

I would love to have an internet business working for me rather than me for it but I just do no know what on earth I would “market”

Well, where do I start?  What you market is anything from ebooks to audio to ecourses, to video, to “how to” seminars and either your own products or (in the early days) other people’s products………

A better question would be “who do you want to market to” because once you know who your ideal customer is, what they look like, what their challenges are, where they hang out online…..things become a LOT easier!  You can find out what their problems are, what they need, and just supply it.

How many times have I seen someone with a bright idea ….

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The Elusive Tipping Point

Donovan Baldwin says:

People in network marketing and internet marketing are always looking for the tip-over point.

The tip-over point is hard to pinpoint, but its effect can be awesome and hard to miss.

Let’s say you have signed up with a new internet business opportunity. You have your website, and you have done all the promotional stuff…search engine optimization, built an opt-in mailing list, post on forums, write articles…the whole nine yards. Then you wait. Maybe an order or two trickles in, but after a while, that dries up, if it ever happens at all.

So, you try a couple of new tactics, redesign the page, join a couple more forums, try some free classified advertising and sit back again. Same thing.

Now, at this point, 99.99999% of new internet marketers or network marketers are going to throw in the towel and start telling anybody they meet that internet marketing and/or network marketing is a scam…a rip-off!

Here’s a fact for you. It is going to take ….

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Business Urban Myths #2

<p><span face=”Verdana” style=”font-size: 0.8em;”>It’s true – the best kind of businesses can be started up for very little initial investment.&nbsp; This means you go into profit earlier and if the overheads of the business are low, you are less vulnerable to circumstances.&nbsp; </span></p>

<p><span face=”Verdana” style=”font-size: 0.8em;”>Internet businesses and Network Marketing Businesses are particularly good at this, and, did you know you can buy businesses of all kinds on eBay?</span> </p>

<p><span face=”Verdana” style=”font-size: 0.8em;”>However, more dangerous is the assumption that everyone <strong>should</strong> start up a business on a shoestring.</span> </p>

<p><span face=”Verdana” style=”font-size: 0.8em;”>It would be much more effective to look at the ideal outcome of your business, work out what it needs to get there, and then figure out what you need in terms of investment to get it there.</span> </p>

<p><span face=”Verdana” style=”font-size: 0.8em;”>Ask yourself, what do we need to do, to make this business a raging success?&nbsp; And what will it cost?&nbsp; Then ….</span></p>

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Getting Started In Network Marketing

<p>Even though Robert Kiyosaki (author of the life-changing &quot;Rich Dad, Poor Dad&quot; book) has said that, if he was starting out in business again, he would join a network marketing organisation, and even though many people have tried to recruit me into various opportunities over the years, I’ve never really been able to get passionate about any of the products.&nbsp; </p>

<p>Cleaning stuff…………no, I don’t think so, although we do own the Shoreham pod of <a href=”http://www.TheCleaningBiz.com” target=”_blank”>www.TheCleaningBiz.com</a> I don’t do my own cleaning………Nutritional supplements………..well, I am now taking multivits for my hair after the diet…………Air &amp; Water Filters…………I did once own a portable NSA air filter and it worked a treat for&nbsp; my cat allergy…..Avon……….Nah, I rather prefer Clinique………….Ann Summers……hmmmmm, let’s not go there!</p>

<p>The whole building a business part of it has been a bit nebulous for me too, because there is no way I’m going to get involved in inviting people to meetings – especially at my house! – and such like and while I know that following the proven formula in network marketing works, the whole concept didn’t work for me.</p>

<p>Now this may be my limiting beliefs, but in my opinion, to be wildly successful AND in integrity, I feel that you have to be willing to follow the proven formula for success in network marketing AND be passionate about the products.</p>

<p>But I am aware that, for people who are just starting out, or for busy successful people who want to build a new business very quickly, network marketing is a superb opportunity.</p>

<p>Very low start up costs, being in business for yourself but not by yourself (if you have a great sponsor and &quot;upline&quot; of people to help you), lots of personal development training and a great positive bunch of people around you.</p>

<p>So I’ve not been tempted so far…..</p>

<p>Until I was approached by one of my existing business partners, Philly Richards, who told me about something that she had been introduced to by Tom Hua (one of the organisers of the World Internet Summit and a VERY successful person) and Jennie Armato (another dynamic and successful character who I like a lot, and massive amounts of integrity).</p>

<p>Would I take a look?&nbsp; </p>

<p>Well, I thought, ONLY if it could be fitted into my &quot;non-income producing activity time&quot; (basically, early evening, while the kids are using the new mammoth &quot;trampomoline&quot; that Steve talked me into buying them on eBay in a moment of weakness!!)</p>

<p>Because I know, like and trust all of these people, I did have a look and I have to say I’m getting pretty excited about it.&nbsp; </p>

<p>It’s a whole different network marketing model and way of doing things, and it’s based entirely online, with a great product that I’m actually already using – really easy and quick – and that I actually think is going to be bloomin’ huge within the next couple of years.</p>

<p>It’s taken some technology that all of us internet marketers use already, with proven success;&nbsp; and made it really easy, accessible and affordable for the general public, while harnessing the power of email to spread a new idea using viral marketing. </p>

<p>I’m going to dedicate some serious &quot;non-income producing activity time&quot; time each week to working on this, and to be working with a small team that I’m putting together right now.</p>

<p>COULD THIS BE YOU??</p>

<p>I’m looking for just EIGHT committed motivated people, who want to build a business to love with unlimited potential, and who want to do it fast and do it part-time.&nbsp; </p>

<p>Here are the Top 10 Things I’m looking for in my 8-Person Business Team:</p>

<p>1.&nbsp; You must be fairly internet friendly and enjoy and be able to use email and the web</p>

<p>2.&nbsp; You must be self motivated and positive</p>

<p>3.&nbsp; You must be willing to take responsibility for your own success – no moaners or blamers please</p>

<p>4.&nbsp; You must be able to dedicate at least three to five hours a week to this – I am going to give you 1:2:1 access to me and there will be some joint tele-seminar calls to attend</p>

<p>5.&nbsp; You should enjoy reading (or listening to audio) as I will be recommending books that will help your success</p>

<p>6.&nbsp; You must be able to invest just £200 to get started and it’s going to cost you about £50 a month initially – this shouldn’t be a stretch for you</p>

<p>7.&nbsp; You must be able to pay the bills while you get going – while I’m happy to share everything I know about business, property investment, internet marketing and wealth creation, while we work together, I don’t want to be fire-fighting your finances </p>

<p>8.&nbsp; You must be action orientated – there’s nothing I hate more than someone who says &quot;I haven’t really done anything this week&quot;</p>

<p>9.&nbsp; You must be able to attend events online via Live Webcast about once every couple of weeks.&nbsp; They are the best way to keep motivated and learn how the most successful distributors/affiliates are doing it.</p>

<p>10.&nbsp; You must not be a quitter – <strong>failure is not an option for me</strong>, and it shouldn’t be for you too.</p>

<p>If you like the sound of working with me on this project and want to find out more, then go to <a href=”http://www.WorkAtHomeAndLive.com/TeamNicolaEnquiries.htm”>http://www.WorkAtHomeAndLive.com/TeamNicolaEnquiries.htm</a> and enter your name and primary email address in the box at the end, and I’ll send you more info immediately.</p>

<p>To our success!</p>

Investing In Investment Knowledge

From the excellent 800CEORead blog as suggested by the ever prolific blogger about multiple streams of income -  Andrea J Lee :

If  you’re an investor, BusinessWeek suggests you read:

• Against the Gods: The Remarkable Story of Risk
• Extraordinary Popular Delusions and the Madness of Crowds
• A Random Walk Down Wall Street
• Investment Policy: How to Win the Loser’s Game
• Unconventional Success: A Fundamental Approach to Personal Investment
• Stocks for the Long Run
• The Intelligent Investor: The Definitive Book on Value Investing
• Common Stocks and Uncommon Profits

Property Going Down (cont)

Nicola says:

Further to the discussion P and I are having about property prices going down….

"Nicola,

Then you have no yardstick to evaluate when a market is overheating?

In the 80’s inflation drove up prices, as people’s salaries were increasing so 10% inflation over 5 years drives a salary from 20k to 32k – just to keep pace with inflation so property prices, on a similar multiple to salaries, will increase, and the relative cost of mortgage also falls nicely recently.
Interest rate drops have allowed people to BORROW much more, on the same payment so 10k a year on the mortgage will now borrow about twice that of 10-15 years ago.

However salaries cannot be expected to grow, as inflation is only some 2-3% so in 5 years a salary will only increase from 20k to 23k so the mortgage as a percentage of household income remains much the same and, at 43% of take home pay, people will have less to spend on other areas.

Forgive me for going back to basics, but you have to see what happens to inflation in salaries and go back a step to get a clear picture, to see if the same applies into the future. Especially if you are going to compare to people’s pensions

I do something else, I left the property game after 10 years in the 90’s, which (what I do now) has no risk, and high upside.

But thanks for your evaluation.

We will compare notes in 10-15 years time.

Regards, P"

My reply:

Dear P

Yes, I do have a yardstick to see if a market is overheating;  it involves five key pointers and only one of those is looking even remotely like it needs watching.  Whereas all five would have flagged up danger signals in the late 80’s / early 90’s.

I must confess, being a visual (picture) person, all the figures you are quoting mean almost nothing to me conceptually, and I’m going to pass your email onto my mate Andy Shaw (property multi-millionaire and a great analyst) for a worthy reply.

One thing jumped out at me though; if you got out of property 10 years ago, you have missed out on whatever your property portfolio was worth, doubling in value.  Actually, in the last 10 years in most areas, it’s more than doubled.

So if you had property worth a quarter of a million, then you have missed out on a quarter of a million pounds.  If it was worth half a million, you’ve missed out on half a million pounds.

Even if it had been just worth £100,000 – say two terraced houses in the South East – you would have made more than another £100,000. 

That’s £10k a year passive income missed out on.  Most people have to work 9-5, 48 weeks a year, and travel time too, for that.

I’d rather stay in the market and set things up so that, if the growth in prices do slow down, it won’t matter to me because the one thing professional property investors don’t do, is sell in a slowing market.

They buy more.

Cheers, N

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