Dad had a few rules. One was “Travel is a justified expense”. It was one of his core tenets or beliefs. Here are some others:

  1. Our Business Philosophy – Work on your business, not for your Business
  2. Our Insurance and risk Philosophy is dynamic. Insurance needs reviewing when you have life events and at least every two years. Insure your lifestyle not just your mortgage.
  3. Our Investment Philosophy is – multifaceted. You need to develop a robust plan, commit and stick to it. Buy & Hold and minimise costs where possible. 
  4. Our Cashflow Philosophy is – it is what you save not what you earn. Budget for your Passions, like travel and the Wealth Savings to achieve your plan. Enjoy the rest.  
  5. Our Debt Philosophy is – Avoid Interest Only. Always principle and interest, renegotiate variable every year, and consider refinancing every three.  
  6. Our Property Philosophy is – No Apartments, No Paid Strata, No Timeshare. Avoid investment properties in Queensland. No Interest Only, and aim to neutrally gear any investment property in 5 years.  
  7. Our Retirement Philosophy – If you can afford to work less you probably should. Once your passive income is greater or equal to your living expenses you are financially free.  
  8. Our Estate Philosophy – You can pay Lawyers now or later, but I guarantee is going to be more later. A DIY estate plan will donate a significant amount of your wealth to Australia.  Australia thanks you.