Forum Replies Created
Hi Neak,
Can I suggest you phone centrelink and ask what their rules and criteria are for income producing assets – they are pretty helpful. There is usually a sliding scale that reduces your pension when you have assets over a certain value.
In relation to trusts, as fas as I know you are required to declare any benefit you are receiveing form a trust distribution, so I really dont think it makes any difference.
CathFoundation,
I beg to differ on your second point.
You can still be a good friend to someone in dispair without getting involved.
Ie. make a suggestion such as mine, offer practial help (eg. help them move house if they are shifting)
BUT they still have to navigate their own way out of the pickle they got themsevles into.Its in situations like this that you really find out who your real friends are (a friend in need is a friend indeed!), even if they did create the problem for themselves.
Cath
Collector,
Can I suggest your freind call lifeline (131144 if they are in sydney) They will be able to put them on to a financial counselling organisation, who would be professionals trained to deal with the situation. There are options rather than going bankrupt.There are 2 problems here: your friends spending habits (which created the situation in the first place) and the immediate crisis they are in. I had a freind that worked for lifeline, and they got these type of calls all the time.
Hope this helps
Cath
What a night!!
No, seriously, it was great meeting some of the people on the forum. Well done Len for getting the ball rolling.
One thing I will say though is that I note that 390 people have read this post but only 6 turned up…
Come on everyone, we can really create synergy and help each other in our various successes by making the effort to come along to these things.
Can I suggest we meet say once a month? I’m OS until the end of November, but would be really interested in the progress of the group.
Does anyone have suggestions on an agenda for the meetings? Maybe we can ask other groups in other cities what they do.
Cath
Hi,
I had a similar situation (but not as bad as this) on a recent settlement (I was purchaser)
* solicitor handed file to clerk
* 5 days before settlement, I had not heard from them, phoned solicitor to see what was going on
* “girl” started by telling me she had a cold, husband/kids had cold – sorry but I dont care, I jsut want my property settled
* she stated she had not heard back from my current lender (ie. who were to organise release of funds from old mortgage) – they had sat on the documents
* as it takes longer than 4 days for discharge documents to be prepared, settlement was delayed by 4 days (vendor had right to charge me interest but did not, fortunately)
* on settlement day, as it was related party transaction, my solicitor was responsible for having an independent vaulation to give to OSR, but she forgot to do this – all 5 parties at settlement were sitting around for an hour while she got this from my lender (if my lender had elected not to give this to her, settlement would have been further delayed)
* there were a few other stuff-ups as wellAlthough this wasn’t a disaster, the lesson I learned was that even though you are paying them money to execute the settlement, you still have to be on top of the process and not rely 100% on anyone, ie. chase people up, check and double check, take notes of conversations, keep copies of everything, make sure lender/solicitor/real estate is doeing what they are supposed to be doing.
Office of fair trading is a good starting point, how about the law society in your state also.
As soon as they get wind that you are reporting them for their incompetence, they may just give you your money back.Hope this helps
Cath
Tonight’s the night!!
I’ll be there at 6.30(driving from Stanmore). Hope a few others can make it.
Looking forward to putting faces to some of the names on this forum.
See you then.
Catherine
UsanaAssociate and everyone,
One of my friends was in Amway for a couple of years, and had a few disturbing stories.
There was a couple in her upline (ie. they were quite senior in Amway), and Amway Head Office made them lease out a jaguar at their own expense, so they would be perceived by their downline to be mega-successful in their Amway business.
One of their tactics they had to use was inviting themselves around to people’s house for a coffee, not telling them that it was Amway, and then try to talk them into joining Amway.
Somehow I dont think I would feel comfortable with the above, but I guess every company has their own set of ethics/strategies in trying to make $$$.
Hope this helps
Catherine
Hey Mitcheos, I had exactly the same problem last year. Fortunately I had a pretty decent boss, and he gave me a separate letter that omitted the paragraph about being on a 3 month probation, and my loan approval went through.
Depends on your employer I guess, if you ask nicely and explain why you want this, he/she may do this for you.
Cheers
XenaI used to work for a company that outsourced all its telemarketing (and other services) to Manila and Bangalore. They did this to cut costs as it is cheap labour ie. these people get paid about 40% of what we get for doing the same job. It’s not the caller who is the ogre here, only greedy corporations.
I feel a bit sorry for them because: unemployment is so high, often this type of work is their only option and there is little social security. Also, English is not their first language, and also there are vast culture differences in dealing with various situations.
Have a bit of compassion guys, I know they are annoying, I am still polite but assertive in dealing with these calls.
Whatever they say when I pick up the phone, I just say “who is calling please”. And then when they say they are from ABC company, I just state “I dont want to buy any of your products/services, thanks for your call”. And hang up.
If it is an investment property (I am presuming it is), all the interest is deductable.
A PI loan, only the interest portion is deductable.An IO loan will free up cashflow to buy more properties.
It depends on your individual circumstances and future plans what loan is best for you.
CFor me, the true value of the seminar is what you get out of it: ie. if a seminar costs you say $3K, and you can use the knowledge/contacts to go on and say make $10K, then I consider that it was worth the cost.
A word of warning though: beware of seminars that use subliminal brain-washing tactics to try to get you to sign up to the next one. I saw anthony robbins last year, and although the seminar content has some great ideas that I have since put into practice, I was appalled at the brainwashing techniques used to try to get participants to sign up the the “Robbins University” ie. $12K for the next 3 courses. It was actually quite insulting to me, as I DO NOT appreciate being psychologically manipulated. Fortunately I was on to it straight away, but I was disturbed by the 100+ people who signed up for the series. At $12K each, Mr Robbins made 1.2M in about 3 hours. Good one Tony.
I’ll get off my soapbox now.
Cath
Hi Everyone,
I too have had several people bag me and challenge me about my IPs. I have found this really discouraging, and can only put it down to a combination of jealousy and ignorance.At the end of the day, its not really about money, nor is it about property (ie. property is just a vehicle for getting what you want out of life).
My definition of success is: doing what you love to do, having fun in the process, being with who you want to be with, and feeling that you are fairly compensated for what you do.
Can I suggest to perhaps avoid talking about money/property with people unless they are doing it themselves or are genuinely interested. I just find it much easier this way.
Cheers
Cath
