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Chapter 1: What alternative forms of investment exist beyond property?
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This podcast contains general financial advice only. That means it's not specific to you, your needs, goals or objectives. So don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer and link to our financial services guide in the show notes. Property doubles every seven years and it's guaranteed to go up.
These are some of the things that people tell us about property, Kate, and it is such an important part of people's financial lives. We just thought we'd have to cover it and debunk some of these myths and also give people a strategy for investing in property or buying property.
Basically, anything you want to do that's property related, this is the episode in which we'll go into depth about how you do it, the smart ways to do it, and maybe some of the dumb ways to do it.
Absolutely. And I think most of us do understand property in some way because even if we're renting growing up, we understand that physical presence of a property. So it's a much easier way to start opening up that conversation of investing rather than diving straight into shares and exchange traded funds.
That's it. Yeah. So normally with you, when we get to investing in the startup pack series, what we'll talk about is more the share market side of things. So how can you invest in things through a computer, through your phone? And it becomes intangible, meaning that you can't physically touch it. You can't smell it or feel it. But property is one of those things you definitely can smell.
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Chapter 2: What common myths about property should I be aware of?
And so those are just some of the things that you can take into account. Obviously, just saving in a good old-fashioned savings account is the way to go if you can.
Yeah. And you might have to sacrifice a bit for a few years if you really want to buy that first time.
It may mean moving back in with your parents. It may mean moving in with your in-laws. It could mean any of those types of things. One of the really popular strategies instead of saving more is actually just earning more. So then you save more. So it might be getting a few extra hours at work or on a Saturday. And that is purely to juice that deposit.
And so, you know, the deposit is a really kind of hard thing to save up for. It's really... you know, gut wrenching when you see the property market growing at the same time that you're saving, you get that fear of missing out that FOMO. The point is to stay the course and just be really tactical about buying. So this next bit probably is where we go from here.
Do you want to talk too much about that?
I think that's it. I think maybe just quickly, just I can now that in like a minute.
Maybe just go back into the course.
Yeah. Yeah.
And Owen, if we've got the deposit ready to go and we've decided we want an apartment, maybe we can buy something around $500,000 or $600,000, how do we even start to figure out what to buy or where to buy it?
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