Empower Wealth experiences?

How confident are you in pinpointing good areas? You could look at using a BA in the area you're interested in along with an investment/portfolio orientated broker with similar effect. In reality, portfolio planning too far into the future is a little pointless as there are too many variables within personal circumstances, lending environment, property market etc.

Starting with a set outcome in mind (ie - I need 'x' to retire) and a good idea of borrowing capacity will give you a the framework for the types of properties you need to purchase to get there.

 

Hi Jess,

At this stage I'm very early on in my journey and thus am not confident enough to pin point an area for investment. When looking to buy my first house, I will definitelty use a BA.

 

Just bringing this thread back up, has anyone had any experiences with Empower Wealths buyers agent services? Would love to hear from you.

 

I would ensure I understand markets before I employed a BA, they are going to give you their spin on the patch which may/may not be the way to.... so you don't know what you don't know if you understand what I am saying.

There is no rush markets are close to peak or peaking, time to learn less risk IMO.

 

Love their property couch podcasts, simple and informative - but like they keep on repeating, should outsource the effort but never outsource the knowledge! end of the day its my money so at least should have an understanding of what they are recommending

imo have a sneaky suspicion ben/bryce are sussing out WA and far north QLD for themselves (think ben bought in townsville recently?)

 

I can confirm (inside knowledge ) they've bought properties for clients in the inner fringe Adelaide recently.

 

they sure are! they let that one slip as well

 

In regards to the property plan how are they paying the loans down

I understand interest only but. Do they ever retire the debt ?

 

See pictures below how to retire on 2000 a week

 

I too am interested in how they retire debt if all loans are IO over the period?

 

They simply won't be able to continually roll over IO periods to be IO forever any more. There will have to be a plan to reduce debt, either by paying it down via P&I payments, or selling.

That said, if you read the words in the above picture, it does say 'the debt being paid down over time'. Maybe they assume a revert to P&I at some stage.

 

They pay down debt by filling up all the "offset buckets/accounts" attached to the loans.
Where the funds come from to fill the buckets, I don't know.

 

I like the "free" Podcasts, but can't help keep thinking of the cost of subliminal messages - "use our services!"

 

Hi Gonz45

Thank you for your post on Empower Wealth. We to are a family with small children and small portfolio. I've been hunting high and low for someone trustworthy to help us develop a plan/strategy for the next 5/10/15 years but haven't found anyone that ticks the boxes? Did you eventually find someone to help you with your plan? Thank you Adelle

 

DIY is the way to go.
Learning and experiencing new things is what life is about.
If you just want someone to tell you what to do then you don't really learn or feel anything, any they don't really care about you anyway..

 

We'll keep sharing our knowledge and insights on the podcast. Feel 100% free to DIY, we seriously don't care. All the best

 

Christian the funds come from all income being generated from the household, inc wages,other investment income, rent, negative gearing etc, etc, less all household and investment costs. Calculated monthly over 40 years with all taxes and indexation applied. Sounds simple doesn't it, yet it's just not that easy to do when have multiple properties, multiple loan splits, and multiple offsets. But that's best practice so we don't cut corners or downplay how powerful knowing this cashflow story is for our clients.

 

How does 40 years lead to early retirement? Am I missing something?

 

It's a 40 year plan, you might retire 15 or 20 years in depending on your risk profile / income / age / growth rate etc.

These guys give great knowledge through their podcast. I am looking forward to learning more in 2017!

 

Hi @Ian87 , Did you end up going ahead with the property plan?
I just started the process myself and am curious to see what your feedback is so far?