“Travel is a justified expense”
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:
- Our Business Philosophy – Work on your business, not for your Business
- 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.
- Our Investment Philosophy is – multifaceted. You need to develop a robust plan, commit and stick to it. Buy & Hold and minimise costs where possible.
- 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.
- Our Debt Philosophy is – Avoid Interest Only. Always principle and interest, renegotiate variable every year, and consider refinancing every three.
- 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.
- 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.
- 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.