Stellar Reviews From Think Money’s February Wealth Retreat

February was a banner month for Think Money. With the December and January holiday periods over, we were able to really step up the number of education opportunities for our clients, equipping them for a new and more profitable year. Our wealth retreat got things off to a great start, helping both new clients get to grips with the Think Money approach and extending the knowledge of our more experienced members.

Held on the 11th of February and graciously hosted by Maroochy RSL, the retreat was a day-long masterclass not just in how to acquire and grow the value of property, but in how to restructure your life and your mindset. At the heart of the Think Money education process is helping our clients to set achievable wealth goals and assisting them in creating a positive mindset, giving them a strong foundation on which to begin building a profitable investment portfolio. Improving your financial situation means more than just changing the way you bank, it means changing the way you think about your money. Attending one of our wealth retreats is a great way to accomplish that.

Reducing your debt, growing your wealth

The day began with a presentation by our debt reduction experts, Lynn and Craig Levitt. This year, the pair implored attendees to focus on debt reduction, explaining how changing the way you think about your money and keeping the right financial mindset can transform your ability to preserve and grow wealth.

Lynn and Craig suggested that much of what makes a person successful comes down to positive thinking – a negative attitude towards the future and our money can poison our decision-making process, leading us towards conservative, defensive courses of action that lead to stagnant or eroding wealth. The presentation drew a connection between taking a positive, progressive approach to our wealth and the habits of the financially successful, saying that having the right approach is the first step towards wealth creation. Fundamentally, the first step towards debt reduction is believing you can do it.

Lay the groundwork for your most successful year yet

Think Money founder Chris Childs then took the stage to explain how with some smart decisions, anyone in Australia could make 2017 their most profitable year yet. Her presentation attacked a number of roadblocks many clients had faced at one point or another, such as getting over that crucial first property hump on your way to a portfolio of 10, and managing multiple mortgage repayments. Chris also got deep into issues such as the peculiarities of managing mining town properties – such as how do you rent to fly-in-fly-out workers on sub-twelve-month rotations, and how do you maximise your profit amidst falling home prices?

Much of the presentation focused on equipping attendees with the skills and knowledge they need to successfully navigate the housing market, helping them recognise opportunities and where they can access a bit of extra help. Chris provided a practical, easy to understand primer on negative gearing and tax, and how it can help relieve the financial pressures of property investment.

This tied into a presentation on the power of ‘OPM’ – other people’s money, which in this case is the bank’s and the benefits of an interest only loan. Taking charge, breaking with the bank’s schedule and telling them when you’ll pay off your investment loan is powerful, and is not something people often realise is possible. Chris explained how an interest only loan can be utilised to sharply reduce the amount of time it takes to pay off your mortgage – cutting the time taken by as much as two-thirds in some cases – when employed alongside the right saving tactics, financial management plan and willpower. The interest-only period of your loan is finite, however, so Chris took the time to explain how you can best manage the transition from interest-only to repaying the principal and interest while continuing to pay off your mortgage as quickly as possible. Chris closed with a look at one of the biggest bugbears of investors – why property valuations can vary so much, which primed everyone nicely for Jack’s presentation in the afternoon.

Workshopping it

Attendees then split into two groups and had the choice of two workshops. Jack Childs gave everyone an in-depth look at projected trends in the Australian property market for 2017, helping people begin to formulate strategies for the year ahead. It was well received, with new buyers getting a professionally-led first-look at the market, and keen buyers being given the knowledge they need to sharpen their focus and look in the right places.

Meanwhile, Chris Childs and Craig Levitt led a course on making your goals happen, and the value in creating – as they put it! – big, hairy, audacious goals. They broke down the process that has to happen for you make them a reality, helping attendees understand how even the smallest regular actions – your mini habits – affect the overall outcome. Much of the workshop was given over to developing techniques for laying a strong mental foundation for goal setting, namely mind movies – a new approach to visualising success that helps you define a clear end-point to work towards. Check out further details about Think Money here.

A successful start to a new year

It was fantastic to see so many familiar and new faces at our February Wealth Retreat, and it was a very well received day by all. Reviews of the day were nothing but glowing, with so many talking about how they walk away from each session with a new perspective on their wealth. Many attendees expressed excitement for the year ahead, with Brendan & Nicky Mallyon calling it “a great way to ‘reset’, ‘re-evaluate’ and ‘review’.” Read some more lovely feedback below:

Always a fabulous day. Thank you to Chris, Craig and Lynn for sharing private goals and results. You guys are awesome –  Trish Hooper

It’s great to come to Wealth Retreats and get refreshed and refocused. – Tim Ferris

Excellent talks by everyone, especially Chris. Always good to be reminded to stay strong, even if there are bumps along the way – Annette Knight

We look forward to seeing everyone again – plus some fresh faces! – at our next retreat, again at Maroochy RSL on the 13th of May. Register now!

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