Market Insights by Kevin Young

How Much Do You Need To Be Rich?

Property Club Insights By Kevin Young

The rich are getting richer, while the poor are getting poorer. Regrettably, the gap is getting wider. The middle class have become the new target for the politicians and the banks to suck dry.

Who is classed as rich?

A survey by a financial comparisons website FINDER.com.au has compared average household wealth, which includes property, with what people regarded they needed to be rich.

How Much Do You Need To Be Rich?

Currently, our average household wealth including property is $740,000. The survey showed in stark contrast, to be rich people needed $5.3 Million in cash – not counting property.

Are you rich? Do you want to be rich?

I love property because in my seventy years – with historical research, I can’t recommend any other method to safely accumulate wealth.

The Club can help you become wealthy and avoid the pension but this is a goal you need to set for yourself early. This sounds ridiculous but surely everyone wants to be wealthy? They do, but they simply don’t know how to get there!

In 1968, I devised a program that took me step by step from what I had to where I wanted to be, which was wealthy.

This is now our financial retirement software program that is absolutely free for members. If you don’t set goals you can never achieve them!

We create more property millionaires!

How do we do this? We have found that anyone can set a goal to be rich but there are many that fall through the cracks before achieving this goal. I am aiming to release my new book before Christmas which lists ten of the deadly sins in accumulating wealth. In the meantime, your Property Mentor has the step by step software program and the knowledge to help you avoid any pitfalls.

The choice is yours. Are you going to become wealthy or join the growing mountain of poor? Huge volumes of retirees are currently hitting the pension lines, however, this causes two problems:

  1. How do you live on such a low income?
  2. How can the country support the estimated million people that will soon have to be paid the pension?

One solution for politicians is to keep on pushing out the retirement year.

The other more sinister solution for politicians is to attack the rich that have carefully planned for their future and gone without, to achieve being “rich”.

We Support Our Members

We support our members in numerous ways. Property Club is organising Beat The Banks rallies and forum’s around the country to draw the media’s attention. This banking robbery is going to amount to a massive $22.5 billion hit to the economy, draining this amount out of your pocket and mine to go to a banking monopoly and then half of that to go to the overseas shareholders.

I need your support at these rallies and forums to wake up the media and to wake up a sleeping Treasurer. He is the first Liberal Treasurer to not force banks to pass on RBA rate cuts. Amazingly he has watched while the reverse has happened. Banks cost of funds have come down yet they have hiked rates up. This is a historical first! It’s not fair.

He has even applauded a 45% jump in your repayments with a sudden change to principal payments on your mortgage. This is a foolhardy step that cannot be recommended by any accountant or financial adviser for investment lending of any kind.

It makes loans more precarious. Many Australians are struggling to meet this banking “extra tax” on your mortgage or forcing many people to simply having to sell when they can’t meet this sudden jump in mortgage repayments.

Is our Treasurer serious about trying to reduce the pension lines and increase self-funded retirees?

Contact your property mentor to attend a banking rally in your State! It’s time for the average person to stand up and say “ENOUGH!“.

The Treasurer and APRA’s, I believe are acting stupidity, in limiting people’s borrowing capacity it is going to have horrendous long term effect on the economy.

People are now forced to pay 45% more to cover the quite unnecessary principal part of their loan which simply forces comfortable borrowings into impossible loan repayments.

The banks themselves who lend the money borrow not on principal and interest but on interest only. It is hypocrisy and voodoo economics.

Your rich status only comes about if you scrimp, save and accumulate enough wealth over a sufficient amount of time. Here APRA and the Treasurer have combined to do you irreparable harm. They are severely limiting the amount of assets that you can accumulate.

They are not extending your life by fifty years to balance it out. The end result is that more and more people will simply not become self-funded retirees.

While this is adversely affecting the vast number of Australians – but not you. You are in the Property Club. We have access to a Nationwide group of fund finders to delve into your situation and find a way around APRA and the Treasurer’s stupidity.

Help yourself become rich. Fill out a Financial Wealth Check form and speak with your Property Mentor!

I am always keen to hear your thoughts. Please send your comments to enquiries@propertyclub.com.au.

Regards,

Kevin Young | Club Founder