My Money Gym Week by Judith Morgan

Nicola’s still gone and its very peaceful here at the virtual Money Gym Towers.   I’ve noticed that Steve has been beavering away at a lot of chores which I know have been on his To Do List awhile and I have been enjoying the news from Nicola and Sarah who did a property deal on their first day in Stoupa!  Did you see that?   Have you seen their new property website? I’m in for a Stoupa property on a rent2own basis, how about you? Sounds like we could create our own MG holiday village in Greece!   Catch up with their remaining holiday exploits by following them on Twitter and seeing the photos and little Greek videos?   I said Greek, not geek.

This week has been rather unexpected for me.   The things I thought were going to happen didn’t and vice versa.   On Monday evening I played poker with my lawyer and won again even though I have no idea what I am up to.   Its make or break time soon, I will have to decide whether or not this is something that I’m just never going to be any good at, however much fun I have.   Still, I like spending time with my lawyer who is a gent, funny and clever and a genius at seeing the deal.   He had spent the day with my Property Boardroom which I had to miss this time around, although they are hammering out a few big deals it seems.   I should miss it more often; do they play bigger when I’m not there?

I scooted over to Red in Canary Wharf on Tuesday and learned about a couple of fascinating new opportunities they have coming up, about which more soon.   New build UK properties for owner-occupation or BTL, only £800 to get in + a guaranteed non-status 95% mortgage in three years’ time.   I told them I would take their entire stock for us Money Gymers!   Also a scheme whereby you can rent your equity to a bank and they will pay you for that with no risks/mortages/drawdowns, which will be wonderful for those on a fixed budget who want increased income and/or the risk averse and perhaps older people in lieu of equity release.   So many brilliant ideas at Red, so little time.

Regretfully, I had to put the debt collectors onto a third party who owed the Money Gym nearly £5,000 this week and I used Thomas Higgins, at the reminder of the wondrous Google Group about which we have writen this week in our Did Your Know column.   For only £2 they sent a letter before action and our debtor miraculously coughed up making me wonder why I hadn’t taken a firmer line sooner.   A lesson there.   Don’t let people owe you money, send the dogs in!

I spent a day on my own money which is always rewarding.   I did that thing where you tidy up which bank account you are using for which purpose, closed an unwanted duplicate bank account, put essentials on direct debit, and made sure only the right direct debits and standing orders were coming out of each remaining bank account.   So now my personal ones are in my personal account, my business ones in my business account, my property ones in my property account and so on.   Very cleansing.   And that gave me enough energy to go on and do something which Julia McDaid had recommended to me YEARS ago – to use Egg Money to link to all my personal current accounts, deposit accounts, loans and credit cards which means I only have to log into Egg’s website now in order to be able to control my 19 financial products spread across 8 separate banks.   Wowser!   The control.   Fabulous.

On Wednesday, normally known as webinar Wednesday, we were call free.   We had already agreed not to run Silver Elite during Nicola’s absence and then Xiosoft, who host the weekly Gold call, decided to do their maintenance between 11 and 12 at precisely the time we normally speak, so that meant I could divert my energies into the Money Gym accounts instead.   Then I went to recce a Central London venue for some 2009-2010 events and found a nice new boardroom with an adjacent hotel for Nicola, a carpark for me, and a series of lovely restaurants in which to enjoy our clients.

Peter Stanley and I continue to make strides with our Rent2Own mentoring calls on Friday mornings, although we only have two left before the end of term.   Peter helped a mate of mine do two deals last week alone in Manchester; my mate found the leads and Peter helped him to close the deals, one each as I understand it. How abundant is that?

Apart from one million emails a day, the rest of my week has evolved around Extreme Self-Care after I wrote a blog post about my Summer To Do list.   After a swift re-frame about which jobs on the list counted as ESC if I could get them out of the way before my holiday starts on 1^st August, I was able to cross three work-related items off the list this week whilst also adding a few more, but I reckon its OK to do the personal ones during the August holiday.   MG Coach Marion and I have done a couple of EFT tapping calls this week too and she’s been working on a couple of new websites for me.

My ESC activities included getting the garden gate painted and the front door fixed, getting the oven professionally cleaned, asking for a caterer on Twitter and finding two, advertising on Gumtree for someone to help with my garden and with my cat, and going with Marie Taylor on her birthday to karaoke at Lucky Voice.   Jane P Lewis, MG client, is going to arrange a singing trip to LV in Islington if you are up for it?   Let us know.

Lucky Voice? Perhaps not, but Lucky Judith most definitely.

Until next time…

Overseas Property: 10 Years of Free Holidays + Your Money Back – and more!

I know I have been banging on ever since the Property Extravaganza about RED and how it’s all about pensions and SIPPs – and it is.

And about how a self-employed person without a pension can create a really meaningful one in only 10 years with only £25k and no more often using the “free” money locked up in their existing paltry little pension – and that’s right as well.

But RED does all sorts of other interesting things too and this week’s story concerns 10 years free holidays for the price of one, plus your money back (guaranteed) plus the capital gain on your original stake.

Most people ask me to say that again when I tell them about it because it sounds too good to be true!   Can I just leave you to read that bit in bold a second time please?

Do you know what the average price of a family holiday is?   £3,600.

And with Red, £2,000 or £3,000 would buy you a two week “bit” of a property which is prime beachfront or golf-front in any of the Top 10 sunshine holiday destinations in the world where sunseekers and golfers holiday all-year round.

Your investment would entitle you to stay there for those two weeks for each of the next 10 years if you wanted to, or rent it out privately yourself if you did not or for only an additional £99 you could even swap it to go somewhere entirely different instead.

I know, sounds a bit like timeshare, doesn’t it?   But it’s not.  Because at the end of the 10 years, the property is sold, you get your original stake back PLUS your share on any capital uplift on the building.

For instance, if your £3,000 had bought you a stake in a leveraged beachfront apartment in Spain costing £250,000 and the property had doubled in value in those 10 years, you would be entitled to an additional £10,000 back.

So, let’s get this straight, Judith.

• I pay £3,000 (approximately)?   Yes.
• I get 10 years’ free holidays? Yes.
• I get my original £3,000 back at the end of the 10 years, GUARANTEED*?   Yes.
• Plus any capital gain on my share of the building when it’s sold, which could be anything from zero to £10,000 or more?   Yes.
• And I can do this as many times as I like?   Yes.
• And I can do this with multiple units without involving a SIPP at all – either for my private use or via the reinvestment programme where it compounds like gangbusters?   Yes.
• Or even mix and match – some for private use, some for reinvestment?   Yes.

*And what’s more, your original £3,000 stake is guaranteed by Lloyds of London never to fall below that in value.

I know.   The Red story just gets better and better.   And this is only the second chapter, there’s more next week and next week and next week, until I run out of delights to share with you.

Want to hear more about Free holidays?   After me!   Contact me judith [at] themoneygym.com for more information and a telephone consultation.

Next week: How to hoover up all those tedious bits of dreary ISAs, disappointing under-performing investments various including stocks and shares and savings accounts and so on and convert them into RED “bits” which give you a guaranteed return of 20% per annum, straight or compounded for an even more sexy return.   You have read the chapter in Nicola’s book about compounding, haven’t you???

RED – the only investment product we have yet seen where your original stake is guaranteed not to fall, underpinned by Lloyds of London.   Woo hoo!

A Pension In Only 10 Years by Judith Morgan

When I first met Nicola, one of the marketing messages the Money Gym was using to attract new clients was about worrying about our old age.   Would we have a pension?

I wasn’t worried about my old age, I already KNEW I wouldn’t have a pension and since I had left it too late,  I KNEW I would have to work till I dropped!

So my plan at that time was all around creating work I would love to do all day long, work I could do as I got older, work where I managed others doing it all for me; businesses to love.

Obviously, that’s changed somewhat over my years with the Money Gym as after a while I was able to find ways to invest in UK property as well and I thought THAT would be my pension.

However, now a much better and faster way has come along, and it’s called RED.   It’s still property, but only loosely.   And it’s so ingenious, I wish I had thought of it.

If you were at our Property Extravaganza on 21st March, you will have seen RED launch that day and, if you are anything like me, you may even have been on the edge of your seat ever since.

RED took a while to get their act together, compliance issues mainly, something an entrepreneur like me doesn’t care to concern herself with.   I just wanted to know when could I have it and when could our clients have it.

And I have been holding those clients at bay ever since, chomping at the bit they are, waiting to hear more detail.

Finally, RED have launched their website, are sending me brochures shortly, I have order forms at last and I’ve been for more product training in Lincoln, so it looks like we are finally ready to rock and roll.

I am going to be sharing a few ideas here over the summer about how you might get into RED and what you might expect to achieve from it (there are so many different angles to this), starting with A Pension in 10 Years.

Firstly I’d like to talk directly to those of you who do have pensions – either personal pensions or stakeholder pensions (we can’t do occupational pensions yet, but watch this space).
Lots of us have got these little bits of pensions all over the place, perhaps you started one once but haven’t paid much into lately for lots of reasons like it’s disappointing performance or we taught you how to use your cash better, or simply that you couldn’t afford it.

Some of our clients have one or two pensions from previous jobs lying around somewhere and are surprised and delighted to discover that the fund is enough to do something really exciting with now, like Harlequin or Red.

But overall, your sense is probably that your pension won’t keep  you in your old age, at least not in the style to which you have become accustomed over the years.   No wonder OAPs have Spam and Jammy Dodgers in their shopping trolleys, that’s all they can afford.

And If you look at the annual statements at all, it’s just to file them in disgust as the sum is you can expect to receive is so paltry as to be not interesting in the least.

The first good news is that you can round up all those little bits of money and transfer them into a SIPP (self invested personal pension) which gives you the chance to do something really meaningful with the money now.

It gives you the chance to take control of that money and how it is invested and put it into something which will bring you a much greater return than the fund managers have been achieving for you, something which is more likely to pay for champagne and caviar, at least on high days and holidays.   All those little bits of pensions are like FREE money to invest in RED and other things like commercial property, stocks and shares and so on.

The RED product is designed to turn an investment of only £25k (or more) into a really great pension within 10 years.   In fact it is designed to turn your £25k into £220k GUARANTEED, plus an annual income of £50,000.   Yes, that’s right, £25k in one lump sum now turns into both those things, not only a £50K per annum income but also a pot  with a capital value guaranteed to be worth a minimum of £220,000, possibly a lot more than that depending on the growth in international property markets over the upcoming decade.   WOW!

I have asked my IFA what I would have to contribute to a pension in order to achieve £50k in 10 years time and the answer is a very unaffordable £1200 a month x 10 years = £144,000.   And even then I could only take a lump sum of £55k once plus an annual pension of just £10k.   If I wanted to draw £50k per annum as I can with RED from only £25k in 10 years time, I would need to create a pot of £850,000 which just isn’t going to happen to me at this late stage of life, I don’t know about you?

And lastly, the other vital thing to remember about orthodox pensions is that the annuity dies with you.   But with a SIPP, as my IFA says: “it provides the ability to produce higher income, better options on death of client and an asset that can be passed onto estate… and can be started at low levels due to fabulous RED product”.   Say no more, where do I sign?

I have emailed all the clients on our waiting list this week.   If you were not on that list and you would like to hear more about RED or if this is the first time you are hearing about RED, do contact me judith[at]themoneygym.com to hear more about how both you and I are now going to be able to afford to retire after all – and in only 10 years.

Next week’s instalment – how RED can create 10 years’ holidays for free, plus your original stake back AND a profit on sale.   This story just keeps on getting better and better.

Money Gym conversations with my hairdresser by Annie Kaszina

Last week my hairdresser gave me a big hug and told me I was one of the two people who had changed his life.

Ok, I’ll admit I simpered a little with delight.  Because I love to help people.  That’s how I get my good feelings.

D.’s been doing my hair for years now.  He’s the best hairdresser I’ve ever had.  Apparently, I’m one of his best clients.  Now, I’m not a big spender on hair (unlike one woman I know who freely admits to having spent some £200,000 [sic] on her one daughter’s hair and her own).  But D. and I have great conversations; ‘Money Gym conversations’, I call them.

‘Money Gym conversations’ are those conversations when you share a little of the information you have gleaned, with someone you know.  Maybe you’ve done it yourself.  You say something and suddenly you hear a few little crashes, as scales fall from the other person’s eyes.

D. and I had conversations like that about property as I sat with a head full of silver foil, and he became a confident property investor. One time he talked about making an ‘aesthetic improvement’ he fancied to his home.  He had been well and truly ‘sold’ something he did not need, something that would never, ever, add value to the property. (It gave me chest pain!) We talked about it for 20 minutes, while he did my highlights.  In the end he decided that the £20,000 was better in his pocket.

Phew!

What did he do with the money?  There were a couple of trips to the Far East.  Also he reduced his workload so he can spend 1 day a week working on his business development.  He wants to do fashion shoots – he’s certainly good enough – and he can afford to do unpaid work 1 day a week, while he gets his face and his talents known.

The latest thing is he has expressed an interest in the RED scheme.  He hadn’t given his pension any thought, so it would kill a couple of birds with one stone for him.

That’s one of the great things about the Money Gym.  You learn a whole different outlook on money.  It’s another way, often a very powerful way, to add value to other people’s lives.  Even better, when you can do it with some simple information.

It kind of blows that hoary old anxiety: “But-if-I-make-money-people-mightn’t-like-me” right out of the water.  Doesn’t it?

It’s always possible if – or, more correctly, when- you make money that there will be some people out there who will take it personally.  They will feel aggrieved, but you already know that.  These people operate from an unconscious scarcity mind-set.  In their world-view there is a pot, and it has only a certain sum of money in it.  Somehow, the amount you should have, has been pre-ordained.  (These people are the duly (self-)appointed arbiters of how much that is.)   When you take more, you are, therefore, in their humble opinion, depriving others of their meagre pittance.

Now, my wonderful hairdresser is the first person in his family to own even one home, but that sort of consideration has never bothered him.  He got the point of property investment, and growing his wealth, quite quickly.  (There were a couple of occasions when his nerve wobbled a little, and I quaked in my boots, because badly hacked hair I do not need.  So while he mixed up the tint and marinated my head, I took charge of the situation, we did a bit of positive belief work and by the time the tint was ready for washing off, he was safe to cut my hair.  PHEW!)

But then, D. had already resolved that old ‘…but they may not like me’ baggage.  It was one of the things that endeared him from the start.  The first time I met him, he walked into my kitchen carrying a bag that bore the sign: “I can only please one person a day.  Today is not your day, and tomorrow is not looking good either…”

Supposing you can only please one person today, and tomorrow, and the day after, and – you get my drift – with your wealth creation efforts, who will you focus on?

SuperCoach, Supporter Profiles & The Paul Daniels

This week has flown by, kicking off with an early start to London on Monday, to speak for the “Supporter Profiles” among the Wealth Dynamics crowd at the end of one of their weekends.  Missing my Monday night poker game, tut, tut.  I thought I would get there early, check in to the Millenium Gloucester, chill out, get changed and wander over to the conference center, but in spite of having prebooked a double, they gave me a twin and miles from the lift!  Not happy.

Back down to reception, where I was told that, because it was before 2pm, that was all they had ready – come back later!  The receptionist was bordering on offhand/rude but when I explained that I was a speaker, about to go on stage and hoping to change, she thawed a bit.

I went over to the conference center (very nice) and with the help of a pleasant, helpful, cleaner, found a large disabled loo where I was able to change in comfort.  Then off to find Daniel Priestley who had booked me to speak. Also there was the marvellous Rohan Weerasinghe, who I haven’t seen for ages, and who spoke at both our Wealth Conferences, so it was nice to catch up.

Great idea, to spend the weekend with people helping them establish and then find out about their profile, and what it all means, then to spend the day with everyone divided into two rooms, Supporters, Stars, Creators & Dealmakers in my room, and to bring in a range of speakers specifically hand picked to show each profile ways for them to create wealth in their flow!

My talk on Membership Club Magic, membership sites to enable Supporter Profiles to monetise their networks, went very well, great lively crowd with lots of positive feedback.  Daniel seemed pleased and one lovely man offered me a cheese bun afterwards.  How kind.

I saw Wealth Dynamics creator (and Creator Profile himself) Roger Hamilton speak for the first time – isn’t he unfeasibly tall and good looking?  Speaks at nineteen to the dozen and overflowing with “creator” energy and enthusiasm.  Quite blew my mind with his extensive plans for the XL Nation.

And Judith “Birthday Girl” Morgan is hosting a webinar where she will be interviewing Money Gym members from each area of the Wealth Dynamics profile and she says “we are still looking for an MG Trader and an MG Accumulator by the way for our teleclass on Tuesday at 4.00pm” so if you fit the bill, email Judith [at] TheMoneyGym.com.

Back to the hotel, where the reception staff had totally redeemed themselves by upgrading me to a mini-suite without my asking – thanks guys!

Drinks and dinner with some fellow speakers and delegates and then an early night after watching Ashes To Ashes (set in the 1980’s – hilarious!) and I treated myself to breakfast in bed, as normally I have to get up at the crack of dawn for our events.  Tempted by the Japanese breakfast but couldn’t quite bring myself to drink miso soup at 8am.  Cool alternative though.

Then off to the London Book Fair to spend the day with Debbie Jenkins, my publisher, and a fun day it was too.  I also hung out a bit with fellow author Rintu Basu from TheNLPCompany.com.  He was fun and I met an amazing bunch of authors who were all in their 60’s and 70’s but busy writing their first or second books!  Secured some signed copies for myself too!  Got a sniff of a USA distributor for my book for Debbie and dragged her over to meet them – just can’t help myself.  She had whiplash and her neck in a brace, poor thing!

The highlight of the day though, was realising that Paul Daniels (@thepauldaniels)was on the next stand, re-launching his kids books series Wizbits.  I introduced myself as a follower of his on Twitter and got a big hug!  I never normally do this stuff but thought I have to ask for a photo with him, and here it is!  He was a lovely, down to earth, fun man, who entertained the crowds in the quieter moments with magic tricks.

On the train I was really enjoying “Supercoach” by Michael Neill, recommended by Judith, and which is one of those simple to read, yet very profound books.  Highlighter out and many corners turned down for easy reference – and there is no higher praise than that for a book.  Well done Michael and he’s coming ot London soon too.

Then home for a couple of days before back off to Canary Wharf on Friday, to broadcast live on Ustream, our private client presentation to those of our folks who can’t make it there themselves.  Mike Crowe is also recording it for us to make available after the event.  We are so high-tech nowadays!

Next week I’m speaking for over 60 property investors on how to use the internet to create extra cashflow at Hotel Du Vin in Brighton and you can book your seat here

Have fun on the wealth creation journey, we always do.

Nicola