The ABC has been airing a six part series titled “The Ascent of Money”. This series is presented by Professor Niall Ferguson and follows the evolution of Money.
Last night’s episode was called “Safe as Houses” and is worth a watch.
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I really enjoyed watching this video, in particular a statement made during the section where the presenter was walking around in Argentina that really summed up the truth to building wealth and how real estate is not the answer….. having an income…..
I have pursued the creation of a passive dividend income through the Australian stock market now for 6 years with great success even taking into account the current market slump. There is no way I could have built up a positive passive income that exceeds my current wages using negatively geared properties. And the icing on the cake is that I know the dominant companies I invest in will continue to pay good dividends….. I don’t have to find renters, I don’t have to pay rates and land tax….. I don’t have to pay utilities and I don’t have to pay contractors to repair things….. the average Australian blue chip is paying dividend return of around 6% or more after frankings…. you’d be lucky if the average rental pays half that gross…… yet many fools are still mathematically inept when it comes to seeing the income light.
Living off capital is the dumbest way to try and become financially free, yet seems the most popular in Oz.
I will only ever own one property…. the one I live in, it’s the only one worth owning.