Rich Mastery or how to master becoming rich…. A great name really and the very reason we wanted to start this site.

Mastery of anything comes down to firstly knowing what the components are that make up what ever it is that you want to be a master of… for example if you want to be a Kung Fun Master you will need to be a master of kicking, striking, blocking and many of components, in fact unless you master the basics of Kung Fu you can never be called a master.

So in Rich Mastery we begin with the basics, allowing you to begin the journey towards mastering how to be Rich. The great thing to know is that it’s easier than mastering Kung Fu and can be accomplished a lot faster.

4 + 5 =

Investor sells land worth over $40m

This is why so many kiwis love real estate. Alan Wallace is an accidental property investor, signing a deal due to settle next year to sell a 16ha East Tamaki site for more than $40 million after paying $630,000 for the real estate 21 years ago. Investor sells land worth over $40m – Property – NZ Herald...

Young Aucklander fails to get onto property ladder

Once again I’m left SMH (shaking my head) as I read the following “A two bedroom unit in Onehunga has sold for $453,000 at auction this afternoon. The 111A Church St unit with modern kitchen, polished floors, deck and freestanding garage was featured in the Herald today as the home young Aucklander Ben Saunders was hoping to buy. The 27-year-old builder had been saving for two years for a $30,000 loan deposit and was hunting in the low to mid $400,000 range. His hopeful entrance into Auckland’s property market was compared to fellow Aucklander Georgina Kupa who saved $3300 for a loan towards her first home in Papakura in 1969.” Young Aucklander fails to get onto property ladder – Property – NZ Herald News. yup, that’s right, they compare unit purchase in Onehunga with a house and land purchase in Papakura in 1969…. what the? It’s these stories that boggle the mind and if you are a youngster trying to get on the property ladder you start to feel like the world is against you, yet in my opinion it’s easier than ever to get on the property ladder these days, the biggest thing to remember though is that now, just as it was in 1969, you must make sacrifices and I’m sure one of those sacrifices Georgina Kupa made was deciding on the location she would live in. I would recommend two possible alternative to buying a unit is Onehunga: 1. Buy a 2 bedroom unit in Manukau – the city is growing fast. 2. Buy a 2 bedroom townhouse in Hamilton – rent it out, the growth...

The End Is Near

The yawning gap between Auckland property values and rents looks set to widen as landlords struggle to boost their rents in the wake of interest rate increases. Auckland residential property prices have increased by more than 30 per cent across most of the city in the last three years; and in past decades landlords have been able to reflect at least some of that increase in their rents. But city rents have remained virtually static in the last three years, reducing property investor yields and, for many people, tipping the balance towards renting rather than buying for many. While there are exceptions where some landlords have been able to edge up their rents to recoup some additional financing costs, government figures suggest most landlords have had to wear significantly lower rental yields. Economists say the prospects of landlords being able to dramatically increase their rents are low, given the country’s relatively low inflation and wage levels. Auckland is where the jobs are and where the majority of returning and new migrants end up living so, in the next six to 12 months at least, rents are not expected to balloon. via Why renting’s good for Aucklanders – for now – Business – NZ Herald News. What is very interesting though is the figures presented by this article Size does matter in housing trends – Property – NZ Herald News. The housing market is a fickle beast, prone to booms and busts that, at their extremes, can have remarkably little to do with how many people are actually looking for a place to live. But, in the long run, the...

7 traits the rich have in common

Billionaire moguls Richard Branson and Oprah Winfrey are highly entrepreneurial with great confidence in their creative ventures. Those are just two of the traits broadly shared by the self-made rich, experts say. Amassing wealth without a trust fund is no easy feat. There isn’t a magic recipe for making millions, but certain ingredients can help. Hard work, education, smart investing, frugality, risk taking, and plain ol’ luck were some of the main factors ultra-high-net-worth investors used to describe themselves when surveyed by the Spectrem Group. CNNMoney decided to dig a little deeper. We asked several wealth experts if they noticed any similar traits or attitudes among their clients with a net worth of at least $5 million. Here’s what surfaced: Entrepreneurial: Going into business is a common path among the wealthy. While there are plenty of doctors, lawyers and corporate executives in the $5 million-plus group surveyed by Spectrem, those who go on to become business owners tend to build an even higher net worth. Always on the clock: The 40-hour work week is like a part-time schedule for many, especially those who have built businesses. A 60- to 80-hour work week is more the norm, as are working vacations, according to certified financial planner Doug Flynn of Flynn Zito Capital Management. High energy: Many high-net-worth individuals have a lot of energy, don’t need much sleep, and enjoy generally upbeat attitudes, according to psychologist James Gottfurcht, who runs Los Angeles-based Psychology of Money Consultants. The super wealthy also tend to be visionaries, said psychologist Kristen Armstrong, a strategic wealth coach at Ascent Private Capital Management. She described many of...

Houses cheap down Memory Lane | Affordable Homes

A real estate brochure dug out from 1996 features a seven-bedroom villa in Herne Bay – now the country’s most expensive suburb. The asking price? Just $190,000. in the article Houses cheap down Memory Lane  by the Herald we get to ponder just what it would be like to have purchased 5, 10 or even 20 of those properties back in 1996. The reality is …you couldn’t have but it’s nice to day dream. The article also points out that the city’s median price was $293,471. It is now $694,500. Incomes have not risen as quickly during that same time period with a quick look at figures from the Census of 1996 and 2013 which show a median “annual personal income” (which includes benefits, wages and salaries for anyone aged over 15) of $15,000 and $28,000 respectively. You could buy properties on the outskirts of the city for considerably less in 1996. A three-bedroom weatherboard in Flat Bush had an asking price of $69,000 and required a deposit of just $6500. So, when are you getting on the property ladder? Houses cheap down Memory Lane | Affordable...

21 Rich Mastery Tips

I’m about to begin a series of tips, 21 in total that have been gleaned from some of the greatest minds in the investment world. The series of tips will be published over the next 21 days so either bookmark us or join the RSS feed. Tip One: Aim “How many millionaires do you know who have become wealthy by investing in savings accounts?” Robert G Allen Cash and bank deposits are low risk and fine for near term spending requirements and emergency funds but they won’t build wealth over long periods of time. The chart below shows the value of $1 invested in various assets since 1900. Despite periodic setbacks (see the arrows) shares and other growth assets provide much higher returns over the long term than cash and bank deposits. Source: Global Financial Data, AMP Capital “The aim is to make money, not to be right.” Ned Davis There is a big difference between the two. But many let their blind faith in a strongly held view (eg “the US borrows too much”, “aging populations will destroy share returns”, “global oil production will soon peak”, “the IT revolution means this time it’s different”) drive their decisions. They could be right at some point, but end up losing a lot of money in the...

Love

Nikola, a photo by WolfgangDengler on Flickr. Love by― Bessie Anderson Stanley “To laugh often and love much; to win the respect of intelligent persons and the affection of children; to earn the approbation of honest citizens and endure the betrayal of false friends; to appreciate beauty; to find the best in others; to give of one’s self; to leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition; to have played and laughed with enthusiasm and sung with exultation; to know even one life has breathed easier because you have lived—this is to have succeeded.” Love by― William W. Purkey “You’ve gotta dance like there’s nobody watching, Love like you’ll never be hurt, Sing like there’s nobody listening, And live like it’s heaven on earth.” Love by Bob Marley “Only once in your life, I truly believe, you find someone who can completely turn your world around. You tell them things that you’ve never shared with another soul and they absorb everything you say and actually want to hear more. You share hopes for the future, dreams that will never come true, goals that were never achieved and the many disappointments life has thrown at you. When something wonderful happens, you can’t wait to tell them about it, knowing they will share in your excitement. They are not embarrassed to cry with you when you are hurting or laugh with you when you make a fool of yourself. Never do they hurt your feelings or make you feel like you are not good enough, but rather they build you...

Entrepreneurs

Entrepreneurs will start a restaurant in the same location where five other restaurants have gone out of business; those other guys may not have succeeded–but why not me? Entrepreneurs will start a software company with nothing but an idea; sure, the competition has deep pockets and a huge market share–but why not me? Entrepreneurs don’t assume those wildly successful people possess special talents or some gift from the gods. Entrepreneurs look at successful people and think, “That’s awesome. Why not me?” By asking that question, entrepreneurs embrace belief and ignore self-doubt. They put aside any feelings that they might not be smart enough, or experienced enough, or adaptable enough....

The rise and rise of Auckland’s apartment market

What did we say? This is the second article today (below) that demonstrates the wisdom of investing in the Auckland Apartment Market. I wouldn’t stop there though, I’d also have a look at the Hamilton Market as well….   More than 150 apartments are now sold every month in central Auckland, with the post GFC slump in the market fast receding. And the sector is finally shaking free of the shackles that had caused potential buyers to hesitate. via The rise and rise of Auckland’s apartment market | Invest In...

Good Advice

“Forget yesterday – it has already forgotten you. Don’t sweat tomorrow – you haven’t even met. Instead, open your eyes and your heart to a truly precious gift – today.” ― Steve...