mrd

Over the past two weeks of this series, I have focused on offering a fuller understanding of a very misunderstood four-letter word. This four-letter word… DEBT, can engender quite negative emotions in us all.

‘English is a crazy language’… say many with a native language other than English. Let’s look at another four-letter English word… LOVE. In English we have just the one word, love, but the Greek language, which has had a huge influence on English has four words… all translated love!

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In last weeks fa@mrd we looked at HORRIBLE DEBT. This week, we will continue our debt series by looking at the 2nd types of debt…

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Have you ever wondered why the things that evoke the most passion or emotion in us… are usually known by four-letter words? Some of these include love, hate, fear, work and of course… Golf! Another emotion-charged four-lettered word that causes most of us to break into a sweat… is DEBT!!!

Mostly, we are conditioned to fear debt and avoid it at all cost. So why does debt propel one family to great riches… and another to poverty? How come the majority of wealthy people quite adequately manage large amounts of debt? Can debt be a positive thing to help us get ahead… or is it always a negative thing to be avoided? Before we can accurately answer this, we need to clarify our definition of debt!

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A well know finance industry figure recently launched a series of seminars. After reading the professionally crafted sales email, designed to invoke fear and panic and have me rushing to attend his paid event, I decided to address what appears to be a case of insincere opportunism.

Studying the world of global finance since last year is his authority for making such predictions. He proposed failure within our financial system is so systemic it is irreversible;  concluding our property market would soon crash.

A man (or a woman) with an experience is never at the mercy of a man with an opinion.

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As an ‘aggressive’ property investor and someone leading others, I am very mindful of my responsibility to be sober and considered in my views.

Successful people swim against the tide of popular opinion. They carefully consider facts before making decisions of far reaching consequence. As the events in America bring on a feeding frenzy for those with an opinion (and often an agenda); the need for sobriety is needed now more than ever.

My Considered Opinion:

Recent global events in the credit market haven’t altered my long standing confidence in selective residential real estate. I expect my investment strategy will ultimately defy some of the broad-brushed statements being tossed about by a few pessimistic economists; who ironically have had most of the recent television and radio airplay.

Many hours have gone into penning this article… I trust the few minutes it’ll take you to read will deliver real benefit.

Let me start with some background to put into context my thoughts…

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Yesterday, presidential hopeful Barack Obama described the current attitude toward the credit crisis as “Irrational Despair”. Malcolm Turnbull, Opposition and Liberal Party Leader said there was “more emotion than reality” about right now. I agree with them both!

It’s fascinating to observe how the same set of circumstances can invoke such different responses from different people. Given this, I think it pertinent to unravel the subject of DEBT. Today’s blog will be Part 1 of a series that I will expand on over the next few weeks.

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Roger Bannister was the first man in history to break the four minute mile (1609 metres). His story is one that we ought to draw much personal inspiration from.

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A friend of mine, who sadly passed away almost nine years ago, was apt to warn me never to own an investment property. Geoff (not his real name) had sadly endured a bad experience with ‘the tenant from hell’. Let me explain…

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As long as we breathe we will be planning for our tomorrow… knowingly or otherwise!

There is no escaping the truth that tomorrow’s harvest will be a by-product of the seeds we plant today.

Once we understand this we can do one of two things… something or nothing! It’s sort of like gardening… regardless of what we do, or don’t do… stuff will grow. The issue is… will the right stuff grow?

• Weeds by default… flowers through effort
• Loneliness by default… happy relationships through effort
• Poverty by default… financial prosperity through effort
• Failure by default… success through effort

It is almost as if the world was created to provide opportunities and challenges. By grasping these opportunities and facing the challenges we not only reap success but also character.

Anyone CAN change their financial status (not overnight and not by default)… it’s just most WON’T. The $64,000 questions are:

Do we WANT to (change our financial status) and…

…Are we prepared to DO something about it…

…I am sure that like me… you’re answer is a resounding YES!

You may have failed in the past as we all do from time to time. You may have sown your seed but the expected harvest failed to materialise. Even the farmer gets times of famine, storm and pest…but he simply continues to sow for the next harvest. It is a truism that…The season of failure is the best time for sowing the seeds of success.

Happy Investing,

Nick Lockhart

© 2008 - mrd your investmentmentor.com.au

Some folks are waiting for inflation fears to disappear and the world economy to be in the right state, with stable interest rate levels… before they will consider an investment opportunity.

Others want to land the perfect job or a perfect cash-flow business before they will get serious about securing their financial futures.

Fearful, they may end up with the ‘tenant from hell’ or crippled by procrastinitis (someone who means to do something… but never quite manages to get around to it!) Mr & Ms Average continue to sit on their hands!

Whether it is taking those first steps towards commencing an exercise program, an educational course or preparing for our retirement… there will never be the perfect opportunity.

There is an old saying… ‘Seek opportunity by the beard because it has a bald behind!’

Yesterday is history and who knows what tomorrow may bring… successful people seize the moment and the opportunities that present themselves each day!

Remember, the door to opportunity is always labeled ‘PUSH’.

Happy Investing,

Nick Lockhart