The key to happiness is investing weekly, with Melissa Goodin (Part 2) – Ep. 97
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In this episode of the Geared for Growth podcast, Mike is joined once again by Melissa Goodin, Director and Senior Advisor of Retire Me Young Wealth Advice. Melissa is passionate about helping her clients live the lifestyle of their choice, and in this second episode of a two-part series, she delves into her property journey and shares her valuable insights.
Following on from last week’s episode, Melissa and Mike focus their attention on Melissa’s approach to property investing and how she applies her principle of “investing every week” to an asset class that requires large capital inputs. Talking through the various types of investment assets, Melissa explains the differing cycles for investment markets, and how investing in shares can be a gateway to saving for property.
Melissa goes on to explain the benefits of dollar cost averaging, and why contrarian investing and buying when the market is down is really the key to long term success. Melissa and Mike discuss the merits of capital growth and high yielding assets, and Melissa explains what she looks for in a property.
The Catholic Church is not commonly referred to in investing podcasts, but Melissa explains why she likens her investment strategy to the Church’s approach for accumulating assets, and how it positions her for creating generational wealth. She also details how holding onto properties has boosted her borrowing capacity and explains why she believes property in inherently structured to build a cash flow positive portfolio.
Melissa and Mike continue their conversation with resounding positivity and real-life references. Melissa’s approach to being emotionally invested in her own property journey is at once refreshing and inspiring. Her zest and passion shine through as she talks about her own experiences, and her no-nonsense advice is sure to strike a chord with even the most seasoned investors.
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Mike is joined once again by Melissa Goodin, Director and Senior Advisor of Retire Me Young Wealth Advice.Following on from last week’s episode, Melissa and Mike focus their attention on Melissa’s approach to property investing and how she applies her principle of “investing every week” to an asset class that requires large capital inputs.
What we cover in this episode
Different investment markets run on differing time cycles, and why that’s good for investors
Dollar cost averaging and why you should be investing every week
Making money work for you and building generational wealth
Why Melissa believes in investing emotionally
What it means to “invest like the Catholic Church”
The psychological comfort that comes from investing regularly
Why you need to understand your numbers, and what to do if you don’t
“When it comes to investing there’s not much to choose from, there is property, there is the investment market, share markets, whether that’s superannuation, pensions, investments, and then there’s cash” Melissa 28:23
“The point is that for me money needs to come out of your savings and go into investment markets and it never goes back into spending, it really whether it’s investments, shares, whether it’s property, that’s where most people’s focus needs to be in life, that’s exciting” Melissa 31:08
“It’s better to be investing into things consistently even if markets are down, especially if markets are down, and then find a good time to transfer it across to property and then make sure that that property is a really, really, awesome property” Melissa 33:20
“I personally like to be a little more creative and make sure that there’s ways of getting good rental incomes on a property before I buy it and it needs to have multiple options” Melissa 36:06
“Not selling because you actually have an amazing property can actually be a really good financial decision in the long term as far as acquiring more properties” Melissa 40:36
“I feel like today’s world is so complicated, (I’m) really big on having a very simple investment philosophy that really doesn’t take a lot of mental energy to run” Melissa 44:14
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.