Finance expert, International best-selling radio broadcaster, newspaper columnist and public speaker, Noel Whittaker has helped thousands of Australians manage their personal finances for more than 25 years. His clever and witty insights into both global and local economies has lead him to write 20 best-selling books which have changed tens of thousands of lives with his strategies for success. Noel’s easy-to-understand and highly effective approach teaches you how to take action and get your money working for you.
Today, we are living longer, government budgets are stretched, and financial markets are increasingly challenging. With all of this in mind, it’s more important than ever to work toward financial independence and ownership of your future. Noel has put together an easy to follow book to help you achieve just this. Making Money Made Simple will guide you through some simple disciplines which can unburden you from a lifetime of financial stress, freeing you up to enjoy all that life has to offer.
First published in 1987, the book is now in its 24th edition, and the focus still rings true today. With more than two million copies already in circulation, Making Money Made Simple is the quintessential finance guide for those who don’t want to worry about money for another second.
“The only thing that is the same about the new book is the name. It has had a full renovation,” Noels says.
“A LOT has changed in 32 years. Although it has had plenty of updates over the years, it was time to give it a full revamp.”
If you are serious about learning how to become financially independent, retire early or develop passive income from an investment portfolio, Making Money Made Simple is an easy read with the investment concepts broken down into simple, practical steps.
Noel says his book explores key concepts, such as, the difference between risk and volatility, asset allocation and general budgeting. There’s an introductory guide to share markets, buying your own home, credit ratings and borrowing and also niche investments such as gold, options, managed funds, futures and superannuation.
He says that the worst enemy of any investor is ignorance. Getting educated is so important if you are serious about changing your investing game and this begins with who you surround yourself with.
“One of the best tips is to have a mastermind group. They can be family, friends, a peer, just find people that are going to keep you accountable to your goals.”
In Napoleon Hill’s book Think and Grow Rich, Hill introduces the concept of the Mastermind Principle.
He described the Mastermind Principle as, “The coordination of knowledge and effort between two or more people who work towards a definite purpose in a spirit of harmony…no two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind”, also known as, the Mastermind.
The Mastermind concept was inspired by Hill’s many conversations with the highly successful businessman, Andrew Carnegie, who attributed his entire fortune and success to his Mastermind group and Noel believes this alliance of two or more minds working together to achieve a common definite objective is an effective strategy to use for financial success.
“Meet with them regularly, every month at least, to keep you on track with your goals,” he says.
When it comes to the future of property for investors, Noel feels positive.
“Ignore all the noise that is out there at the moment. Interest rates are at an all-time low, so if you stick to the ‘buy well and add value’ principle, property investing is still a great choice for investors in today’s market,” he says.
“Australia’s population is expected to reach 38 million by 2051. Strong population growth is always good for property, coupled with the current interest rates property still remains a good choice for investors.”
“Location, location, location. Buy something that is near schools, infrastructure and transport. It’s pretty simple, buy well and add value,” he says.
“People would rather live on the beachfront than five streets back from the water and they would prefer to be 10 minutes from work than have a two-hour drive to get there. You cannot change the position of real estate, so it follows that over time, the well-located properties must continue to grow in value if the population increases.”
“There is a lot of talk out there about whether to rent or buy. And, there is no doubt that when looking at the numbers on paper, renting seems like the better option. The reason this may not be a great option is that people who rent, often don’t invest the extra cash available and instead take the holiday that they deserve or buy that new car.”
He explains in Making Money Made Simple that if you are prepared to put in the time and effort to gain the knowledge it takes to choose a good investment property, then it should prove to be a rewarding move. Buying and forgetting about it for years, in the hopes of another real estate boom may result in a troubled experience.
His tips to buying a rental property are look for a quiet street, close to transport, shops, schools and with decent fencing and car accommodation. Choosing for your future tenant’s needs, rather than for own is critical.
“Don’t let your emotions take over when selecting a property,” Noel says.
To kick off your journey toward financial freedom, check out Noel’s expert advice and his collection of invaluable books to get you there.