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The Story That NEEDS To Be Told

When I share these Story Behind The Numbers, I’m really grateful be able to get an opportunity to look over some of the Plans that we are developing for our clients.

And you get the stories that need to be told. Remember, we’re doing anything around 40 plans a month — so, we can’t tell every story. Every one of them are unique and great, and it’s just a joy to be able to be given the opportunity to help these clients go on their journey! But some of our stories just jump out at you, and this is one of those stories.

A young IT couple out of Western Australia — they’re working with Paul Thompson, one of our QPIAs here in Melbourne, 20 years old. 20 years old. And they’ve built themselves a Property Portfolio Plan. They came across through our educational content — the books, the podcast, The Property CouchThey flew into Melbourne to have a meeting with us and they’re just a delight! And the theme for me on this one here is “Never underestimate the power of goal setting.”

This couple are driven. They’ve set their goals. They are going to have an amazing result, starting at the age of 20 with the power of compounding. They’re going to have future choices. They’re well and truly going to have an amazing self-funded retirement! And they’re highly motivated. They can see the picture in front of them. So, you set the goal. They chase down the goal. And here’s some of that story…

This particular couple are going to take a break at some point on this journey — a trip in 2021, six months around Australia, tick. Then medium-term, a little bit older, they’re going to have a couple of kids. Okay, but they’re going to buy three investment properties before they start their family. Imagine a situation where you could effectively have a nest egg that’s so life-changing like this journey this couple is about to embark on!

They’re very, very good money managers, but you’re probably asking… 20? How did they save for their deposit? Great question. They actually didn’t.

What they’re getting is a family pledge — a security pledge — from their parents to get them started. And this will be the norm into the future because that is the biggest challenge for young people getting started. But if they’ve got parents who have got a property, then it’s using that equity to be able to get them started.

Now, we’re not talking about buying 20, 30 or 40 properties for this couple. They also just want to move, to take action. I did have the privilege of meeting them briefly when they were here in Melbourne and they were talking about more opportunity by moving into Melbourne or Sydney, because they were IT focused out of Perth. But their plan was simple — retire at 55 years of age. They’re currently 20 now. $2,000 a week, a $100,000 a year passive income. They’re smoking it! They are ready to go. We’ve lined it all up. They’re using all of our professional services. So, they’ve got their Plan. They’re getting their mortgages organised. We’re getting that guarantee sorted, the security guarantee, and they’re going to execute.

And they get it. They understand. They don’t need to be in love with the property. There doesn’t need to be an emotional attachment to the asset. They want a performing asset that can set up their second purchase and then set up for the third property. Then they’ll buy their family home. They’ll start to look at having the children. That’s it.

Those types of things are really great stories! So, all kudos to this couple for starting as early as they are! And that’s what I said before — never underestimate the power of focus and having a goal and planning to become what you plan to become.

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