_{1.15 – Cate introduces Rachel and Marcus’s amazing property planning case study}

_{6.09 – Cate shares the financial snapshot of our case study couple}

_{11.30 – Mike sheds light on why people are prepared to make big decisions without appropriate due diligence}

_{13.40 – The Trio challenge Rachel and Marcus’s self-diagnosis of their risk profiles}

_{27.12 – Teaser for next week’s show}

_{29.43 – Dave shares the three progressive scenarios with our listeners}

_{47.40 – Gold Nuggets}

Cate kicks off the episode and invites Dave to share a bit of information about our exciting case study couple and their quest to move to Venus Bay to enjoy a simpler life. They asked Dave’s team to help them work out how they can achieve their goals, including the generation of a passive income and retaining their Melbourne home as an investment. Is it realistic? Is it achievable? The Trio delve into the emotions that can run when setting these types of goals. They also congratulate our case study couple for having a firm goal and setting about constructing a plan.

“Not having a plan is like chipping away at a piece of marble without knowing what the statue is going to be”, says Mike.

Rachel and Marcus have a very solid financial outlook. Cate gives a fiscal snapshot of their debt, income and equity position for context and Dave runs through the critical questions that are asked in order to determine their property plan.

Our case study couple rated themselves on the risk profile meter as 4-4.5 out of 5, however the Trio challenge this and discuss their rationale for down-scaling our couple to lesser risk score.

Dave steps through the assumptions and inputs, and Cate weaves through each of the three scenarios that were presented to the couple.

What is a prudent capital growth forecast rate? And when should consumers be wary? Mike expands on the reasons why some claims can be dangerous and Cate warns about the risks of buying brand new.

The three scenarios show a progression of outcomes, and with small tweaks and changes, each scenario is quite different from the last option. But what are some of the most stunning outcomes, and what are the powerful tweaks that could surprise many of us? Tune in to find out….

Cate touches on the risks of buying a future home, and the Trio share some of the mitigants others who find themselves in a similar situation to consider.

One of the three scenarios not only gets our hard working duo to their goals, but enables them to enjoy an even higher passive income. What are some of the tips, tricks and counter-intuitive moves that they had to consider?

We wish Rachel and Marcus a wonderful and rewarding journey, and a fabulous future in Venus Bay!

….. and the gold nuggets!

Cate Bakos’s gold nugget: The tiny little decisions that can be made from one scenario to another may not seem significant, but can be very conservative in the long run. The counter-intuitive suggestions can make a huge difference.

Dave Johnston’s gold nugget: This is a great example of the benefit of creating a property plan. “For anyone who’s interested in creating wealth through property, setting a plan will set you a step ahead.”

Mike Mortlock’s gold nugget: Make sure you have income protection insurance and other risk-mitigating insurances. Congrats to our case study couple!

Resources:

If you enjoyed this episode, you may also enjoy these:

• 82 – goal setting fundamentals for property success 
• 92 – Property planning and your next purchase – critical considerations and why modelling financial outcomes is vital to success 
• 128 – Upgrading and planning for the long-term home: how to keep a home as an investment, buying or selling first and more 
• 167 – Property Planning Case Study #5 – Announcing the Property Planning interactive software platform! Do I need a large portfolio to achieve my retirement rental income goal of $100k? 
• 173 – Property Planning Case Study #6 – Listener scenario on the property planning platform! Can we retire in 8 years & live off our portfolio until we hit preservation age?