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491 | The 3 Stages of Retirement & Why Most Don’t Think Beyond Stage 1?  – Chat with Jennifer Langton

By in Podcast, Property Investment

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“What you do with your home will have the biggest impact on your fees and charges and how your cash flow works in residential aged care.”  – Jennifer Langton  

Folks, there’s A LOT of considerations and work to be done to “get your ducks in order” before you retire. It can be overwhelming, from managing your pension to strategically positioning your home and investment properties.   

And it’s not just for elderly folks or those who are about to retire. Gen Xs, we’re talking to you too!   

To help guide you through Australia’s complex Aged Care system, we’ve got an exceptional, first-time property couch guest: Jennifer Langton!   

Jennifer is the Head of Personal Advice at Aged Care Steps and is an Educator, Financial Adviser, and Speaker who is an FAAA accredited Aged Care Specialist for Senior Aged Care and Retirement Living.   

Together, we unpack: 
✅ The 3 Major Phases of Retirement & why most people only think about Phase #1!  
✅ Why you want to avoid “Hospital Carpark Decisions” at ALL costs  
✅ Why You Don’t Want A Scottish Castle In Retirement!  
✅ How your home is assessed (Psst: It’s different between your aged care and aged pension!) 
✅ The intricacies between interest rates and pensions and the new incoming changes 
✅ Jen’s top tips and tricks for aged care and much more!   

 Tune in now to discover the answer to some of these age-old questions 😊   

 

Free Stuff Mentioned

  • 2024 TPC Survey Closing Soon! Let us know what we should start, stop and keep doing and as our thanks to you, we’ll give you a Case Study Series Unpacked for FREE (usually $297). Plus, the top #5 most insightful answers will win a $100 gift card. Share your thoughts now >>    

Timestamps

  • 0:00 – The 3 Stages of Retirement & Why Most Don’t Think Beyond Stage 1? 
  • 2:44 – 2024 Survey Closing Soon: Fill yours out & get our FREE Case Studies Unpacked Series!  
  • 5:02 – If you are a Gen X, you’re going to want to do this…  
  • 6:08 – Mindset Minute: Dream while you’re awake    
  • 9:53 – Welcome Jennifer Langton!  
  • 10:29 – We NEED to change these Aged Care myths  
  • 14:29 – Jen’s career from Flying to Financial Planning 
  • 16:50 – Her Traditional Money Backstory  
  • 19:04 – “Sit down and have that cup of tea”: The first big steps to financial literacy  
  • 21:30 – How Jen has always stayed in control of her finances  
  • 22:38 – The big transition away from a traditional upbringing 
  • 23:26 – The 3 Major Phases of Retirement  
  • 27:21 – The options available in Australia’s care system  
  • 32:03 – Who and what should you be considering when it comes to retirement?   
  • 33:54 – Application to approval codes: The Assessment Process  
  • 37:37 – The Scottish Castle: Why it matters WHERE you live 
  • 41:27 – “Your home is assessed differently for aged care and aged pension”  
  • 44:45 – Avoid ‘Hospital Carpark Conversations’ at all costs! 
  • 46:44 – THIS is where Financial Planners shine  
  • 48:12 – The messy middle of 1 investment property  
  • 50:27 – Option 1: Do Nothing?!  
  • 51:12 – Case Study: Beryl, aged 87  
  • 54:55 – The fine print: Refundable Accommodation Deposits (RAD) 
  • 58:06 – New changes coming out to interest rates and aged care?  
  • 1:01:55 – The wealthiest generation around the world    
  • 1:04:12 – Tips & traps of aged care 
  • 1:07:53 – The Granny Flat Catch  
  • 1:09:30 – Summary  
  • 1:10:23 – What options do you have for your home in retirement? 
  • 1:11:43 – Why we haven’t been talking about Superannuation 
  • 1:13:47 – Advice from one of the best in financial and aging care planning   

And… 

  • 1:16:04 – Thank you for turning on the lightbulb, Jennifer!  
  • 1:21:36 – Lifehack: Apple has added a game-changing feature for podcasts  
  • 1:23:40 – WMPN: Construction has hit new lows & the most expensive property on the planet?!  

 

490 | Why Is the Sandwich Generation Trapped in Wealth Limbo?

By in Podcast, Property Investment, Q&A

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The Sandwich Generation is stuck in a wealth limbo where “it seems impossible to get past 1 to 2 properties”, says TPC listener MC. But who are this group of investors, and why are they finding themselves in this property purgatory? 💸 

In today’s episode, we explore how to get creative to escape wealth limbo, the #1 thing you shouldn’t do for those going through a breakup and pose the question… 

Would you stop paying 10c at the risk of not earning $1?  

This question paints the tip of the iceberg for today’s discussion into a battle that looks increasingly akin to David and Goliath as the government continues to stop $3B worth of incentives for property investors… 

The truth is in the pudding (or, more specifically, the Australian Taxation Office’s data): for the first time in recorded history, rental stock is declining.  

It’s an alarming and insightful episode that will open your eyes to the many hurdles property investors must overcome.  

Give it a listen now, folks 😊  

 

P.S. Were you in wealth limbo or are you part of the Sandwich Generation? Send us a message on our SpeakPipe; we want to know you overcome these issues!  

 

Free Stuff Mentioned

  • 2024 TPC Survey Now Open!
    Let us know what we should start, stop and keep doing and as our thanks to you, we’ll give you a Case Study Series Unpacked for FREE (usually $297). Plus, the top #5 most insightful answers will win a $100 gift card. Share your thoughts now >>   
  • Free Book: Make Money Simple Again  
  • Free Money Management Platform: Moorr 
  • Are you part of the Sandwich Generation? We want you to be part of our 2025 Summer Series! Reach out to Bryce on Instagram or through our SpeakPipe  (And get a free Start & Build course if you make an appearance!)  
  • The first time in recorded Australian History: Rental stock is going backwards and the latest ATO data. Watch this Episode on YouTube to see these insightful graphs >>  
  • Bryce’s Lifehack: iPhone stickers can help you plan your outfit! >>  
  • Ben’s “What’s Making Property News”: Read Domain’s March 2024 Rental Report >>  
  • Guests & Episodes Mentioned:  
    • 376 | It’s never too late to start: How he’s on track for a $2k/week passive income! – Chat with Steve  
    • 382 | “Property Investors are Tired of Being the ATMs for the State!” – Chat with Antonia Mercorella  
    • 401 | How Old is Too Old?! Refinancing, Retiring Debt & Starting Later in Life 
    • 454 | How to Create a $5.54M Portfolio in Your 50s – Chat with Tom Dekker 
    • 473 | Juggling Teenagers, Divorce, and 4 Properties: How This Single Mum Conquered Her Financial Pain – Chat with Leisa 

 

Comments & Questions

Listener Comment from Tom: 

Hi Ben and Bryce,

Loving the content after listening for more than 3 years.

There is currently a lot of noise in the media and social platforms about how us greedy investors are pushing up house prices and rents as well as rolling in wealth as a result of the negative gearing and capital gains tax rules which I believe need to be clarified for everyday Aussies and certainly for the politicians who are using this agenda for their own political benefit.

As a property investor, I have and will continue to work as diligently as possible to pay tax on my rental properties every year. Yes this is my goal!

For the past 3 years, I have had the privilege of paying tax on income received from my rental properties although this may change in the coming year as a result of interest rates and increased costs to hold the properties.

Negative Gearing is a safety net for the investor which supports reducing the “loss” it does not create a windfall at all and simply means that if for example I made a loss of $10,000 on rental properties in a year and I am on the top marginal tax rate, my loss is reduced by up to $4,700.

I am still making a loss whilst providing accommodation so I am a little confused by the politicians assumption that we buy property just so that we can claim back some tax and lose money. Makes little sense and it is my view that removal of this safety net will simply increase the cost of rents.

Capital gains tax discount which was brought in to replace indexing and based on my research, the impact (difference between before and after capital gains tax discount) is actually in favour of going back to the indexing model where investors made slightly more.

I am proud to be a property investor providing good, safe and as affordable as possible accommodation for my tenants and whilst I accept that I cannot always make money on the rents collected, I am ultimately doing this to support myself and my family in retirement where I will most likely continue to pay tax on rental income happily until my final breath.

Seems to me that the politicians want me to reconsider and live off the government in my retirement rather than contribute!

The record needs to be set straight on the greens agenda. The Greens were for the environment when it was top of the social media charts but now suddenly they are the anti-investors party because this has a higher profile.

We as a group of investors need to create a voice that helps inform all people of the facts rather than the political BS!  I would pay to watch or listen to you guys interviewing one of these politicians!

Perhaps by putting everyone straight, we can get the focus back on to the priority which is increasing supply and improving vacancy rates rather than pointing fingers.

Keep up the great work gents!

Tom

 

Question on Sandwich Generation of Women from MC:

I’m keen to hear from single women (and men) who didn’t start investing till their 40s. There are so many of us! It’s a real feature of my generation.

A lot of the single women you’ve had on your program started their investment journey before 2017, so were able to buy multiple properties with equity and before the serviceability constraints came in.

If you’re a single female on a middle income today, don’t have parental assistance or any kind of inherited wealth, and you start investing a bit later, it seems impossible to get past 1 to 2 properties.

I’m keen to hear others who might have done that in today’s environment, especially how they’ve met and creatively dealt with serviceability challenges.

For what it’s worth, I think there’s a large, sandwich generation of women who never married, but whose parents never bothered to educate them about property because they just assumed it was a ladder they’d start climbing once they got married and had children.

But that hasn’t happened, so they’re in a kind of wealth limbo. I know so many people in this situation! I’m also just keen to hear more from people who started their investment journey late – age 40+ – in general and to hear what they’ve been able to achieve.

Cheers and thanks for your terrific program!

 

Timestamps

  • 0:00 – Why Is the Sandwich Generation Trapped in Wealth Limbo? 
  • 1:35 – Tell us what you want to hear! >>  
  • 4:27 – Mindset Minute: How to Stop the Toxic Cycle of Overthinking  
  • 9:27 – Previous Summer Series Guest: Negative Gearing is Still Loss Making  
  • 13:57 – Property just isn’t stacking up anymore for the investor… 
  • 18:27 – A Letter to the QLD Parliament from A Property Investor 
  • 22:01 – The first time in recorded Australian history: Rental stock is going backwards?!  
  • 26:09 – It’s David vs. Goliath: Giving the investor a voice  
  • 32:13 – Would you stop paying 10c at the risk of not earning $1?  
  • 38:31 – If you stop the $3B incentives, you have to accept the unintended consequences…  
  • 43:40 – Q1) Sandwich Generation of Women from MC   
  • 46:14 – You need 2 essential things to invest in property  
  • 48:55 – “Don’t think about investments, think about stabilisation”  
  • 51:00 – Why Bryce likes listening to success stories  
  • 53:57 – Get creative to get out of the wealth limbo 
  • 57:09 – Going through a breakup? Don’t do THIS  
  • 1:02:19 – Encore Comment: “You’ll be given a generous referral fee of $10,000 plus GST for each successful referral.” 🙄 
  • 1:06:48 – Behind-the-scenes of how the referral game works   

And… 

  • 1:11:18 – Lifehack: iPhone stickers can help you plan your outfit   
  • 1:13:55 – WMPN: Quarterly Rents: We predict VIC will be top soon…

 

489 | The Rise of the Finfluencer: Who’s at Risk?

By in Podcast, Property Investment

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Ever find yourself double-tapping a Finfluencer’s post and thinking, “Is this legit?”  

You’re not alone. We all love a good financial glow-up story, but discerning sound advice from dangerous schemes is becoming harder online.  

That’s why, in this week’s episode, we’re diving into the fast-paced world of financial influencers. 

 From the six red flags to spot a Finfluencer in a sea of seemingly harmless finance feeds to understanding why “pay interest only” tips are just the tip of the iceberg, tune in to discover who’s most likely at risk of being stung by these Finfluencers and, more importantly, how to avoid it. 

 Listen now to learn how to navigate today’s complex Finfluencer landscape.  

 

Free Stuff Mentioned

  • Tell us what you want to hear & get our FREE Case Studies Unpacked Series! (RRP $297)
    Our 2024 TPC Survey is now open! Tell us what you’d like us to start, stop and keep doing in our short survey. All you need to do is tick a few boxes and let us know how we can keep providing the best, most relatable content this year.
    And as our thanks to you, we’re giving every person who shares their thoughts a Case Study Series Unpacked for FREE (usually $297). Plus, the top #5 most insightful answers will win a $100 gift card. Share your thoughts now >>  
  • Want us to tackle a topic? Reach out to Bryce on Instagram or through our SpeakPipe. (And get a free Start & Build course if your Q is featured!)   
  • Resources from Ben’s “What’s Making Property News”:  

 

Timestamps

  • 0:00 – The Rise of the Finfluencer: Who’s at Risk? 
  • 3:46 – Tell us what you want to hear this year!  
  • 6:26 – Mindset Minute: History never repeats itself, man always does 
  • 7:40 – The listener Q which started this episode (Thanks, Jen!)  
  • 9:35 – The Evolution of the Finfluencer  
  • 12:10 – What is a Finfluencer?  
  • 13:43 – Here’s how to spot one!  
  • 14:32 – The #6 ways Finfluencers differ from traditional financial advisors:
    1. A_ ce_s_b_li_ _ 
  • 16:03 – 2. P_a_ _o_m 
  • 17:31 – 3. Re_u_a_ _on 
  • 18:25 – 4. E_p_r_ise & C_ede_ _ials 
  • 22:53 – 5. Co_pe_sa_ _on 
  • 25:20 – 6. Pe_ _on_li_a_ _on 
  • 29:19 – Beware credit advice!  
  • 31:11 – Who’s at risk of being stung by a Finfluencers?  
  • 32:19 – How Finfluencers measure success 
  • 32:52 – The 2 groups at greatest risk 
  • 37:19 – Why are they so effective?  
  • 40:17 – #6 Finfluence Red Flags: 1. “Too Good to Be ____”  
  • 43:42 – 2. Hard ____  
  • 46:14 – 3. Lack of ____ 
  • 47:20 – 4. High ____ Strategies  
  • 50:27 – 5. Emphasis on ____ ____ Gains  
  • 52:55 – 6. Hero not the ______ 
  • 56:36 – ASIC & Finfluencers  
  • 1:00:20 – The difficulties monitoring Finfluencers  
  • 1:02:40 – The Downfall of the ASX Wolf  
  • 1:09:20 – Why property is the playground for the spruiker  
  • 1:14:00 – The #3 Ps you should practice going forward  
  • 1:19:29 – Final Word: “Sniff Test” our podcast folks! 
  • 1:21:30 – What we stand for  
  • 1:27:32 – Have a topic you want us to tackle? Let us know!  

And… 

  • 1:28:49 – Lifehack: Got a boarding pass? Try this plane lifehack 
  • 1:30:46 – WMPN:  Where are Australians flocking to? Interstate population growth  

 

488 | Buying Regional vs. City: Does It Stack Up?

By in Podcast, Property Investment, Q&A

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When investing in property, choosing WHERE to invest often keeps folks up at night. That’s why, in today’s Q&A Day, we are answering questions that speak to this very issue. 

Here’s what we’re unpacking:  

Why choose to invest regional over city? (Tune in to 1:02:10 to hear Ben poise a riddle to the community. Oh, and send us your replies through our SpeakPipe! 😉)  

From the multi-layered factors to consider BEFORE buying in the country to whether Gary (today’s question asker) has made the right decision to invest in Ballarat, we’re uncovering the one question that investing regional boils down to.   

Plus, we answer what elements make a town a mining town, the biggest risks associated with investing in these “boom and bust” areas, and our case for why we avoid investing in Canberra!  

It’s an episode loaded with nuggets of wisdom, tune in now folks! 😊 

 

P.S. As market conditions change, we’ve been noticing some concerning ads popping up, which is why we’re sitting down to unpack: What does modern-day spruiking look like?  

 

Free Stuff Mentioned

  • Leave us a Q for our next Q&A Day! Reach out to Bryce on Instagram or through our SpeakPipe. (And get a free Start & Build course if your Q is featured!)    
  • Free Money Management Platform: Moorr  
  • Episodes Mentioned:  
    • TPC Binge Guide (First 20 Episodes of our most fundamental lessons!)  
    • 256 | From Gold Mine To Fool’s Gold: How This Property Investor Nearly Lost It All During The WA Mining Boom! – Chat with Rick Hockey 
    • 418 | The Hidden Forces Driving Property Values 
    • 474 | From Childhood Stocks to City Shocks: How He Escaped Bad Investing Advice! – Chat with Bailey 
    • 484 | Cracking the Code: Mastering the 60% Land to Asset Ratio 
  • Graphs from Ben’s “What’s Making Property News”:  

Questions We Answer…

Q1) Investment Property in Canberra from Jenna  

“Love the show. I have listened to every episode. A bit of a fan. I’ve done your property plan through EW. I have used to mortgage broking services, your BA services and your accounting services. 

Thank you for all the information and services that you provide. 

I have two questions today and it is specifically related to my situation, but I think a few of your listeners we’ll have similar questions. 

To begin with the background, my partner and I had our PPOR currently sitting at around 490,000 on our mortgage remaining 300,000 in equity.  That 490 includes a $100,000 equity release, which we used to buy and investment property in the South Brisbane.  

My biggest question is based around the fact that our PPOR is located in Canberra. I’ve listened to you guys for several years and specifically on your more recent podcasts. 

You reiterate that you despise having an investment property in Canberra. 

Our PPOR is not our forever home, but we would be happy here for another four or five years. Our original plan was to transition our PPOR into an IP and I guess my question is, would you still recommend this? 

For more context, our mortgage is currently about $2,400 a month and being very concerned if we could get up to $2,500 even $3,500 a month in rent understanding that there’s a complication for land tax.  

My question is what would you do with this house sell? or turn it into investment property? 

My second question as I believe I know what your answer will be to the first question is what happens to the equity release against our current PPOR if we sell? 

Will we need to pay this off? Or can we leave it as is as the interest is tax deductible? 

Thanks guys.  Love your work.”  

 

Q2) What is considered a mining town? from Jenny 

“Hi Ben and Bryce, Jenny here. 

Thank you for the invaluable content over the years. Without the education provided in your poddies, we would never have embarked on our property investment journey. 

I have a few questions regarding mining towns, which I believe the Community can benefit from. 

We do not invest in mining towns as two wise men have informed us over the years, but which towns are considered mining towns and how do you work this out? 

Is it just the suburb where the mining actually takes place? Or does it extend to surrounding suburbs 

Would you look to ABS data to see the percentage level of residents who are employed in the mining industry? 

And if so, would say anything over 5% of the population working in the mining sector, then make that Suburb a mining town. The wisdom on this will be greatly appreciated.
Thanks boys.”  

 

Q3) Regional Properties from Gary   

“Hi Bryce and Ben, 

My name is Gary I live in Spotswood, West of Melbourne. I’ve just got a question I’d like to ask you about regional properties.  

Two years ago, I went through our financial planner and bought his agent and got a three-bedroom house in Ballarat North just outside Melbourne. And my question was that there’s been a lot of talk regarding regional properties versus sort of properties near the CBD. 

Now, I just wanted to get your thoughts on what you class as a good regional property because especially in Victoria, we have regional areas such as Geelong, Ballarat, and Bendigo a bit and they’re not exactly what I call small, they have a lot of amenities, a lot of industry, and job creation out there.

But I just find that when you read information quite vague about regional properties, they say they don’t do as well as in the city and they obviously at the moment they’re not increased as much as they’re near the inner city. 

But I’m just interested to see your thoughts and maybe have a bit of a deeper look or a deeper dive into the regional market as we like. 

I think we’d like to focus on the inner cities and central CBD’s in Melbourne and Sydney. 

It’ll be good to hear your thoughts on that. 

Thank you.”  

 

Timestamps

  • 0:00 – Buying Regional vs. City: Does It Stack Up? 
  • 1:43 – Ben’s stopped sweating 😉  
  • 3:12 – Warning: THIS is what Modern Day Spruiking looks like   
  • 7:04 – Where modern spruiking happens & why it’s so successful 🙁  
  • 10:18 – What kind of investor are you?  
  • 15:27 – From the Coalface: 8 of 12 tenants moving because landlords are selling up   
  • 18:25 – Mindset Minute: “There is never anything to do, but always action to take.” 
  • 22:36 – As a property investor, what practical action can you take?  
  • 24:13 – Q1) Investment Property in Canberra  
  • 26:29 – Hold or move into another market?   
  • 30:50 – The science behind NOT investing in Canberra  
  • 34:25 – Beware of regulatory risks: How holding costs are disincentivising investors  
  • 37:41 –  If you’ve built a portfolio in Canberra, let us know how you’ve done it!  
  • 38:36 – How is my loan transferred if I sell the property?  
  • 40:55 – The Stand-Alone Scenario 
  • 45:42 – Q2) What is considered a mining town? 
  • 46:43 – The risk with mining towns  
  • 51:10 – Is Perth a mining town?  
  • 53:04 – Why Perth is heading towards a golden era  
  • 58:10 – Q3) Regional Properties 
  • 59:40 –  Not all regional properties are created equal 
  • 1:00:57 – We need to acknowledge this for the next generation of investors  
  • 1:02:10 – “Will regional land grow higher than the city?” 
  • 1:06:34 –  Ben and Bryce have both bought regional!  
  • 1:09:45 – Historically, regional has been great for yield 
  • 1:10:29 – It comes down to the M___ of S____  
  • 1:12:48 –  Consider these factors when buying regional!  

And… 

  • 1:17:14 – Lifehack: Make Decisions like Jeff Bezos 
  • 1:22:53 – WMPN: House Price Movements across Australia   

 

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