Kim Northwood is an Investor, Entrepreneur, and the Author of ‘Work Less, Make More: The Millennial Guide to Financial Freedom.’ Kim is passionate about educating people on their personal finances and understanding the risks of financial insecurity.
In this episode, Kim explains how buying a house is different to younger generations, and why these differences inspired him to write his book. He shares his biggest tips for saving a deposit in today’s economy and explores some unconventional ways to increase your savings that could help you secure your first property.
Get in touch with Kim Northwood
Writer, Entrepreneur, Investor
Author of The Millennial’s Guide to Financial Freedom
The information contained in this podcast is general in nature and is not to be taken as financial or personal advice.
It does not consider your objectives, financial situation or needs.
You should consider whether this information is suitable for you and your personal circumstances before acting on it.
Hi and welcome to The Home Run, your guide to buying the first home in Australia.
On the show.
I’ll walk you through the home buying process from every angle we cover the steps to take the pitfalls to avoid and the answers to all your questions you’ve been dying to ask.
No matter what stage you’re at, you’ll learn everything you need to know about buying your first home.
I’m your host, Michael Nasser, and I’m a mortgage broker at Lendstreet, and I really love helping people buy their first home.
Kim Northwood is a Long-term investor entrepreneur and the author of Workless Make More The Millennial Guide to Financial Freedom.
Kim is passionate about teaching younger generations about the risk of financial insecurity and how to navigate unpredictable housing costs and the cost of living.
In this episode, Kim shares the differences between generations when it comes to buying a house.
Kim will also talk about the inspiration behind writing his recent book.
He’ll pass on his biggest tips for saving a deposit in today’s economy, and Kim will share some unconventional ways.
You could increase your savings to help you secure your first property.
Let’s dive in Kim.
Welcome to the show.
Thank you very much for having me.
You’re the author of The Millennials Guide to Financial Freedom.
But your background is quite different to that.
Can you tell us a little bit about your career before this book?
So I had a 10-year career, actually working in foreign affairs and trade, and I have resigned recently from that.
So I spent 10 years as a trade negotiator and diplomat working out overseas, in places such as Afghanistan and Papua New Guinea, and that was working on economic development programmes, economic reporting, and other investment reporting in those countries.
I was also an advisor to Australia’s Trade and Investment Minister, and I did that for about a year and a half and then, in addition to that, I’ve also started a few companies, so I started a ski website back in 2010 and built that up over a number of years and then sold that to a New Zealand company in 2019.
And at the moment, I’m managing a a company that imports and distributes non-alcoholic beer.
Ok, that seems to be the trend these days.
Yeah, yeah, yeah.
So, no, it’s it’s going really well.
So probably seen it’s taken off in Australia in the last few years.
So we’re part of that, which is exciting.
And then, of course, the the author of Workless Make More The Millennials Guide to Financial Freedom.
It sort of wraps up my my experience in business and trade and economics and personal finance and investing kind of brings it all together in the book.
So you’ve got a few things happening here.
How did you get into the economic side of things?
Was that something from school and uni?
And you just sort of studied that or what happened there?
And how did you end up?
I guess being a trade diplomat because that isn’t something that everyone does very often.
And it’s a bit intriguing.
So, through uni, I, like, studied a bit.
And then once I started working with foreign affairs, I moved into the trade and economic side of things and then built up kind of expertise, you know, on the job, doing trade negotiations overseas.
And, you know, learning from all the great people around me
Can imagine there’d be some great minds there when you’re having those meetings and discussions and strategizing in those types of environment.
Yeah, yeah, yeah, yeah, yeah.
And you know, it’s it’s interesting because on the one hand, like I’ve been interested in personal finance, which is, interesting on in individual level.
And then you’ve got the big kind of macro side of things as well and how the money flows around and helps to make us all better off.
Yeah, and obviously you’ve started some businesses on top of that.
So you’ve It’s really intertwining all those, I guess, skills and and those economic thoughts, whether it’s macro and micro and and everything in between.
So, I guess so.
After all of that, what led you to write a book about financial freedom?
You know your work less make more, you know, Millennials guide to financial freedom.
What was the motivation there and at what point did that trigger and yeah, tell us about that story.
I’ve always had an interest in personal financing investing, you know, for the last decade or so.
I’ve been, you know, really keen on, you know, learning more about it and investing and kind of building my own wealth through investing.
And the book came about because to me there was a gap in the market.
What I could see was that there were a lot of books for that really kind of basic first step level, you know, basic budgeting plans, that type of thing.
And then at the other end, you can go and see a financial advisor, and you can pay many thousands of dollars for that advice.
And that’s really great advice, and I do encourage people to do that, but it does cost a lot of money, and it’s not necessarily within the reach of everyone.
So I thought, you know, where is where is a book that kind of fits in that middle ground?
So it’s not the basic budgeting plan, but it’s not $5000 of financial advice.
It’s that kind of next level of financial information for people who are really interested, wanna learn more about it and kind of take the next step, in their personal finance investing journey.
That was one reason I saw that there were a lot of kind of mindset books out there.
You know, if you have the right mind, the wealth mindset, you’ll get rich.
And, you know, for me, I was like, OK, that’s great, But what do I actually do?
What are the actual kind of steps?
So I wanted a bit less of the mindset advice, and I wanted to kind of put down a bit more practical information.
You know, it’s very specific to the Australian context, the book that I’ve written, and that’s because it has to be because of all the various kind of schemes and rules and regulations they change from country to country.
So the mindset advice does work if you’re reading US Finance Book, for example, of course, that applies here.
But the actual kind of rules and regulations, methods, schemes are different and specific to Australia.
And then thirdly, I did want to respond to, you know, hustle culture that we have in Australia, where it’s the idea that you just have to kind of endlessly chase income more and more income is the way to get ahead.
And, you know, I was sitting there, I’d have chats with mates about all these kind of, like, hair brand ideas to get rich.
I don’t know if you ever watched Steinfeld, but, you know, Kramer’s, like, periscope idea.
Put that in the car so he could see over the traffic.
Yeah, yeah, yeah.
I, I haven’t seen all the episodes.
I haven’t caught that one.
I’ve seen a few, but definitely not.
Not that one.
But I can understand his personality and the nature of the show.
That doesn’t surprise me.
That he’d come up that you were just coming up with these crazy ideas to get rich, right? And then But then I would say, Oh, well, do you guys know about all the benefits you can get through your super fund, for example?
And they say no idea.
It’s this kind of like, really easy to access information that people didn’t necessarily know about.
So I wanted to write something that, you know, that responds to that and says, if you endlessly chase income you’re not actually gonna get ahead unless you know what to do with that money.
They’re really the main reasons that I wrote the book.
Yeah and as we’ve mentioned, the book is called Work Less, Make More, The Millennials Guide to Financial Freedom and one of the areas that you explore in the book is about how to buy your first home.
What makes it different for millennials or for younger generations today to buy a home compared to say what it was like for their parents or of different generations?
So what are those main challenges in particular and obviously with reference to what?
Who we speak to, through this podcast, it’s very much the first home buyer.
So how is it relative for them?
There are a number of different things that young people have to face today when they’re looking to buy a house.
Compared to older generations, you know, we’ve got salaries which aren’t really increasing in real terms.
Inflation is impacting on our purchasing power.
You know, we’ve got housing prices that were going through the roof during covid.
They sort of settled a bit that even now there’s signs I’ve just read today in Sydney that it’s picking up again and around the country, you know, we’ve got things like differences between gender earnings over a lifetime as well, which really does impact and rising costs to get the skills you need to get the high paying jobs.
So, you know, rising education costs.
So all all these are kind of increasing factors.
But, you know, for me, I think the kind of number one difference that I see between the millennial generation, those younger and the older generations is pretty much like the age at which people buy their first house.
So the research that I had for when I did my book was in 1981.
It was 24 was the average age of the first house, and now it’s risen up to about 33 34.
So you know, and all the research is saying that like far fewer people born after 1990 will own a house by the age of 40 compared to previous generations.
So you know, there’s kind of a structural shift happening here like it’s becoming much, much harder to raise a deposit to buy that first house, and that kind of has, like, impacts across not just your own life, but all of all of Australian society.
Because previously, if you think about it, you know, you could buy a house twenties, thirties.
You get a 30 year mortgage and you pay it off well before the time you retire.
Whereas now you’re buying your first house.
When you’re 40 you get a 30 year mortgage, it takes you to 70.
Well, that’s actually after some people retire.
So kind of has you have to start to think about like, What is that gonna look like in 30 years down the track for me?
If I’m buying a house later in life and so it does mean that you might have to look at things like dipping into super to pay off the house once you retire, it kind of has, like all these whole of life impacts, it is more difficult now for younger people to buy a house.
The one thing that we discuss with clients that are in that stage is how they buy their first house, too, because potentially, I guess the traditional dream was buy a house, start a family grow, and you know, and then you might buy an investment property.
But now we’ve got concepts like rent vesting where you know you’ll continually rent.
But you might buy in an area that you can afford so you can get into the market that way.
There are different strategies, and we speak about that quite a bit throughout this podcast.
But that’s definitely the different strategies that do come to play, especially in the major cities Sydney, Melbourne, because the prices there are are obviously in comparison.
And I don’t know what it would have been like in in 1981 when people were buying at 24 their salary compared to the price of a house.
But I often hear it was quite common for a blue collar worker in those times to be able on one salary to afford a house and, you know, start a family and all that sort of stuff.
Whereas today that doesn’t seem to ring true as much, which is why these incentives and these super schemes and things like that can assist as well.
You know, the latest research I had was we’re up around 8.5 times the median to buy a house around Australia.
Previously, you know, back in 1990 it was four times.
It is just getting more difficult.
Another point I wanted to make here was, , just about renting and the fact that because it is getting so difficult, I do actually hear a lot of people starting to say things like, It’s so difficult.
I’ll never own a house.
I may as well just give up on that dream.
It’s out of my reach.
And, you know, I think it’s a very dangerous kind of attitude to take with the current state of the rules related to tenancy laws in Australia, because despite the fact that they are making some changes, I know New South Wales has just announced or had previously announced that they were gonna make changes but no fault evictions for periodic leases.
But it still doesn’t give you the kind of long-term security that you might see in other countries overseas.
You know, Germany, Europe, et cetera, where you can have these really long-term leases in Australia, you can still be kicked out if the landlord wants to move back in.
For example, you know there are a whole bunch of reasons that you can just be kicked out, and that’s fine when you’re young.
But you imagine when you’re old and someone just wants to kick you out of your house, you know, through no fault of your own, then that really does start to put you in a precarious situation.
So I, I say, like as tough as it is, I still think in Australia a house is kind of a cornerstone of financial security, and you should be looking at all these strategies that are available to look to buy a house.
Yeah, it’s it’s funny that you mentioned that the vulnerability of I guess being a renter and compared to the European countries, because in our last episode we had Doctor Nicola Powell, who’s the head of research at Domain and one of the topics we touched on in.
That was the concept that we may need to look at creating rules for having extended periods of rent.
So people that are renting have that security that they have because in Europe it’s quite common that you get a lot longer rental terms and there’s a lot more security in being a renter and people might have lived their whole in in a particular house renting, and they’ve had that peace of mind or that security, whereas with here it’s almost like it’s a six month or a 12 month and then you go month to month and then it’s like, you know, there’s a lot of uncertainty about that and, yeah, that’s something that we, we we touched on.
So it’s it’s interesting that you mentioned that as well.
Other than that, what do you see as the biggest challenges for this generation?
when trying to purchase their first home?
I mean, the biggest challenge really comes down to raising the deposit.
That’s really the most difficult thing, because prices are are increasing so much.
And typically people and banks want to encourage you to get a 20% deposit.
Just putting enough money aside to get a deposit is the number one challenge for first home buyers, in my opinion, and unfortunately, I think it’s gonna remain a challenge for a long, long time to come.
And as I said before, you know, with house prices so high compared to the median salary in Australia, that really is making it very challenging and, you know, we are seeing sort of some segmentation, I guess, across society, younger people, those who are lucky enough to have received some assistance from their parents and those who haven’t.
And that does kind of cause a bit of a schism because it means people who get that assistance can buy earlier.
So it is a it’s kind of a, you know, a broader problem that we have to tackle in Australia.
It is kind of that generational wealth divide is is increasing.
In a lot of the European markets, and property has been around for a lot longer than as we know it in Australia, I mean, and so as we evolve as a society and, you know, 100 years and 200 years pass and do you see that more happening?
That generational type of homeowners and landowners and that segregation occurring?
I know it’s probably a bit of a left field question, but do you see that increasing or have you have?
Do you have any thoughts on that?
I think what I would say is, if we don’t intervene and do something, then yes, that is kind of the natural course of events, you know, like capital does tend to accumulate with people who have capital already and wealth creates wealth.
So the answer to your question is yes.
I think that will happen as a natural course of events unless we do something.
So that’s all to say.
I don’t think it is inevitable, you know, As I said, society, we can put in place rules and, you know, have a schemes and things like that that make it fairer and give everyone kind of that fair go fair chance to buy a place.
But, you know, unless we do something about it, then yes, I think that is kind of a natural thing.
Capital will create capital.
And the role of government because in Sydney and Melbourne, I see a lot of guarantor type of loans.
You know, for first home buyers.
Now that probably is in line with the capital, you know, creates more capital concept, and the beneficiaries of that are people that already have the capital.
But I think what you’ve highlighted is the fact that and I think government has a bit of a role to play there where we’re creating incentives and schemes.
So people that don’t have that facility or or accessibility to guarantor loans or, you know, using you know, mum and Dad for that sort of scenario, which obviously is very much the case and totally fine, but to our people that don’t have that same opportunity to access something similar so that they can start their property journey as well.
Because I, I like you believe that property is a a cornerstone feature of wealth in in in Australia.
In any case, jumping back to the biggest challenge which you’ve mentioned, which is the deposit, which I feel is also the case.
It’s something that you touch on in the book.
So what’s your biggest tip for saving for a deposit in today’s economy?
My biggest kind of tip is that there is actually a lot of assistance available out there.
There are a lot of schemes there, but they can be confusing.
There’s a lot of information, and, you know you don’t necessarily know where to look.
So the number one tip, I think, is actually just to kind of start educating yourself about what assistance is available and not just sort of sit back and say, Oh, it’s it’s too hard, really kind of dive into to what strategies you might be able to employ to raise that deposit.
So we’ve got, you know, things like the First Homes a scheme, which is a scheme which allows you to put more money into your super fund.
Voluntary contributions, then allows you to take that money out and put it towards a a house deposit.
Doing that, you’ll get great tax breaks and really kind of boost your savings.
And I think you can take up up to $50,000.
So once you of additional contributions, the good thing about something like that is that it happens automatically behind your back.
So I’m a I’m a big fan of automatic savings.
I do find it hard to run a budget personally.
Other people love it, but I’ve always found that having a a system where you automatically save before you see the money for me works because then there’s no temptation to actually use that money.
So the first home saver scheme is one thing for people to look into.
First Home owner grants.
Now every state and territory in Australia now has first home owner grants you know, there are conditions in terms of income thresholds, property thresholds.
Sometimes you have to use it for a new build, for example, rather than an existing home.
But certainly they’re there, and they could be in the order of 10 to $15,000 which is, you know, that’s a very, very handy little boost to your savings.
And then you’ve got things like stamp duty concessions.
All Australian states and territories now have some sort of stamp duty concession for first home buyers.
And then again, there’s kind of different rules related to eligibility and house price thresholds.
But they are there, you know.
And then we’ve seen state governments kind of expanding the remit of those stamp duty concessions as well.
So do definitely make sure that you look into that when it comes to get the house.
And then you touched on this as well.
loan guarantee schemes.
Now, some people, of course, use parents or other family members as guarantors, But there is actually a a government system as well set up to do this.
There’s the first home guarantee scheme.
This can let you get a loan with a deposit of as little as 5% of the price.
I mean, that drastically reduces the amount that you would need to save for a deposit that’s through the federal government and then so there are caps in terms of the number of places each year on it, and there are caps in terms of kind of income thresholds.
But certainly it’s really something to have a look at because it it means that you can get that deposit, get that house with a much smaller deposit.
Of course, it does mean you’ve got to be very mindful of how much loan you’re servicing because now you’re servicing much more.
You haven’t managed to raise as much as bigger deposit, so that comes into your monthly budget after you get the house.
But in terms of raising the deposit, it’s a pretty handy scheme, you know, On top of that, all the states and territories have their own schemes as well, and this is where it gets a bit confusing.
And I say you’ve got to look into this and they’ve all got different names and they’re often quite similar.
Like first home buyer schemes.
Key start home start housing finance loan, Home buyer fund, but just to kind of run you through some of these very quickly.
West Australia has key start.
South Australia has home Start has the housing finance loan and the pathway shared.
There’s the Victoria’s Home Buyer Fund, Tasmania’s My Home, New South Wales, shared equity and ACT and Northern Territory schemes as well.
So with some of these schemes, some of them have a loan guarantee aspect.
But a lot of them also have what’s called a shared equity scheme, too.
And that means that the state government will take a portion of the equity over the house and it means that the total loan that you need again is lower.
They can be particularly good for people who are finding it quite difficult to save for that larger deposit.
And basically, it means you can get a place with an overall smaller loan, which means the deposit can be lower so you can get into these schemes with some of them are as low as 2% of the total value.
So it really is again, like a way to get into the market with a much, much smaller deposit.
Of course, with the shared equity scheme.
You have to be conscious that because the government is taking a portion, you don’t actually own the whole house.
There are often options at the end of the loan to pay out the government portion of it.
You know, it’s kind of just something to be mindful of that you’ll end up sharing the equity with the government.
It is a way to get in with a much smaller deposit.
And that’s obviously the aim of the aim of that particular question.
Is, is what is those opportunities and, definitely with the federal, you know, low deposit, you know, scheme with that 5% contribution.
In doing so, you save LMI, which is a big carrot of it at all, which is the lenders mortgage insurance component for deposits less than 20%.
Now I know with our probably our last 11th home buyer applications, about six or seven have have utilised that particular scheme, so that’s definitely one that’s out there and definitely being used and and that’s just rolled over over.
So yeah, there are limited numbers to that, and it just rolled over the It’s a financial sort of year calendar where it resets.
So obviously now, today is the 27th of July.
And, it reset earlier this month.
So that is definitely something that is being utilised, the shared equity.
I don’t see as much, but I can totally see how that could work as well.
But as we had mentioned earlier, a lot of these things unknown unknowns right now.
And I think we draw attention to them so people can investigate them and explore them and see for their scenario and their situation if it’s right for them, because it may offer, you know, a path to home ownership, which is obviously, in our case, what we’re trying to achieve for our clients and for anyone that’s interested.
Things like, side hustles and other unconventional solutions are becoming a lot more prevalent for younger generations.
So do you have any unconventional tips for saving some extra money?
Obviously, we’ve spoken about the schemes and the government incentives, but for the individual, you know, looking at creating a unique way, is there anything that you’ve seen or in your research or anything that you’ve seen sort of out and about?
Well, putting a book together that you can shed light on for us?
Ofcourse, like there’s a whole bunch of budgeting techniques I think that people can look at, you know, you can move into a share house, for example, look casual jobs.
Uber drivers eat in instead of going out, buy secondhand, use marketplace.
Which, by the way, I’ve just been selling a whole bunch of stuff over the last week.
It’s brilliant, like you’d be just so amazed what people buy, but, you know, domestic holidays instead of going overseas.
These are all kind of the budget hack side of things.
As I said before, I’ve never really been a big budget myself.
I don’t find that I can stick to it because expenses kind of come in unprepared.
So I’ve always been a really big fan of allocating savings first and then using the rest of the money to kind of pay for expenses as they come in and not touching the savings.
But in terms of like the more I wouldn’t say they’re unconventional, but they’re, I guess, less commonly used or known, even for people who are quite savvy with money.
But I really do think that it’s important to use your savings in a way that helps to keep up with the prices.
So budgeting hacks alone while they are good for saving, I think to really raise a deposit, which is quite a substantial amount of money.
I think you need your money working for you as well.
And that kind of means looking at investments for that for that money.
And so, depending on the the time frame for your money, money for your for raising a deposit, rather, you might look at sort of various strategies.
So I would say, at the very least, a very risk-averse strategy is to look at a term deposit for some money, and that way, when prices are going up, you know, So they got 5%.
If your money is going up 5% at least you’re kind of keeping up with it.
And you’re not having this situation where you’re saving and saving.
But the prices are running away from you.
So I was just looking before the sort of best-term deposits out there at the moment are up around five 5.3%.
At the moment.
There is another side to rising interest rates.
It does mean that, you know term deposits go up, so I think people should look at that and they could use a term deposit.
If it’s for a shorter time frame, they want to make sure the money is is safer and they’ll get that guaranteed return.
And at least that kind of gets their money working for them a little bit.
Get helping them to keep up.
Then if you’re looking at a longer time frame to raise a deposit and again, like people should do their own research on this, it’s very important because there are risks involved.
But getting into, you know, exchange-traded funds on the share market and putting your money somewhere where it can offer a return in terms of dividends and kind of capital appreciation over a longer time frame Again.
There are risks, of course, but over a long time frame that can help you keep up with the rising prices.
And it does mean that like you’re not just relying on your savings alone to raise that deposit.
You are getting that money working for you as well.
So and you know, for some people you could even look at like a real estate investment trust, for example, which actually gets you straight into the property market.
So for people who aren’t aware, they’re, you know, entities that own multiple kind of properties, usually that produce income and they’ll own a range of properties across Australia and including, you know, it could be like commercial properties could be residential aged care facilities, warehouses, hospitals, et cetera.
But it does actually mean that you own a slice of that straight away, and you can get into that relatively easily and with a you know, a very small amount of money.
And again that kind of like gets your money working for you and keeping up kind of with the general property market in Australia.
So I think that’s kind of the thing I’d really say is that savings and budget hacks and you know they’re all very important, And it is.
You can’t just kind of frivolously spend your money and expect to raise the deposit for a house.
By the same token, I really think it’s super super important for younger people to kind of understand the investment options that are out there and understand how the kind of the system is working so that they can keep up with the prices as they as they rise.
Because the fact of the matter is, particularly in a place like Sydney and through covid, prices were rising way faster than than anyone could save.
And there are definitely, definitely a lot of factors for that as well that were pretty unique to the situation at that point in time.
Definitely, the low-interest rates and the high borrowing capacities, which are obviously no longer exists, did inflate that massively.
But I love the how you know you kind of touch on.
There are simple things that people do, which we all know about, which means, you know, which could be getting an extra job or or obviously saving, which you need to do, and being more diligent about that.
But I do like how there’s that extra layer of complexity there potentially for people to start to consider whether it’s the safer term deposits or those other methods of investing your money.
So you make your money work for you, and I think that’s definitely something that people should explore obviously with the right professional, you know, in mind and and your book will obviously go through things like that as well.
And we’ll discuss more about that in terms of how our listeners can get access to the book and sort of explore these ideas a little bit further.
But yeah, no, definitely great thoughts and tips there.
We always close our interviews with two questions, and we use the same two questions just to, you know, benchmark them and and sort of compare our responses across the episodes.
The first one is what would be your number one tip for a first home buyer trying to get in the market today be?
It’s very easy to kind of to say it’s all too hard and you hate the game and throw your hands up.
But there’s just no guarantee that laws in Australia will ever change to make renting for life a feasible option like it is potentially overseas.
Maybe it will happen.
Maybe it will.
Maybe there’ll be enough lobbying on certain politicians in the government for it to happen, but maybe it won’t.
So to me, it’s a very, very risky strategy to say.
I’m just gonna rent for life.
As you know, that is the kind of rules and regulations currently stand in Australia.
And I would say like as crazy as it seems in Australia, with median prices to incomes, it can get worse.
You know, like Hong Kong.
I think at its peak was like 23 times.
And I had some friends over there who It’s just so hard for them.
And they have to kind of go elsewhere, like to find places that was at its peak.
It can get crazier, unfortunately.
So I think the wrenching for life it’s still not a a way to kind of secure your financial freedom in Australia.
As it stands.
Yeah, cool, awesome. And the second one is, if you’re a first home buyer and you had a million dollars to buy.
So the million dollars is there, Where would you buy?
Or I might say, What would you do with it?
Perhaps in your case, because there’s there’s a bit of investment strategy there as part of it.
So if you know where you’d buy for some reasons, let us know.
But if there’s something else you’d do with it, which obviously would be part of the journey.
I’m just trying to weave it into, you know, obviously you know what?
What you’d know.
What would you do with that million dollars?
You know, I, I have thought about this question.
Obviously, where I would buy with a with a million dollars.
There’s some incredible value.
I think out, Western Sydney Way because there’s gonna There’s a new airport gonna be going in there.
It’s a huge growth centre for Australia.
So I think like up in there’s really great value up in kind of the Blue Mountains area, some Mary’s MU plains.
And these places are like super close to Parramatta, which is, you know, like a a centre now.
And so I think there’s really great value there, similarly, down in Melbourne, I think, like the West side of Melbourne is has got great, like, sort of growth prospects and down in like, Altera Meadows and we areas, and these places are like 30 minutes from the city on the train, but sort of previously less looked at by people.
So, you know, I think I think those places kind of offer really, really great value and our growth centres for Australia.
Those properties offer great great value, of course, but, there’s really great value still in kind of a the Australian stock market and the, exchange traded funds index funds.
I think, you know, in Australia, because it is we still are like a fantastic place to live and invest and grow companies.
And while we’re growing and people are innovating, then you know companies are gonna be growing innovating themselves and producing income, which kind of gets returned to investors through the share market.
So I think there’s the Australian kind of index funds.
I think I wish I could say like Bitcoin or something, but that’s but the Australian Index funds, I think, offer a lot of value as well.
Definitely not not things we normally discuss here.
But I could totally see where you know you could definitely get some value out of that and, you know, invested wisely.
I’m sure you could get some healthy returns as well, but obviously risks are associated.
So if that’s something that people are considering, definitely be guided by some professionals that know what they’re doing in that particular space, where can our listeners find you.
We’ve mentioned your book.
You know, Work less, make more. The millennial’s guide to financial freedom that people want a copy of that.
Where can they get that?
And where can they also get in touch with you if they want to ask you a question or two?
So books available, Amazon Book Topia and, , all the kind of major major stores around Australia, et cetera.
My website is kimnorthwood.com.
So people can come on there.
They can also buy the book direct through the website and then contact me on that.
My instagram is Kim North Finance guy.
People are very welcome to get in touch through that as well.
And we’ll put those details in our show notes as well.
So if anyone’s interested to check any of those details out, feel free to jump on the show notes and the links will be there to get you where you want to go.
Thank you so much for joining me on the show today.
It’s been great.
I’ve really enjoyed this topic.
and thank you so much for your time and your insights.
No thanks very much for having me.
It’s been great.
You’ve been listening to the home run your guide for buying your first home in Australia.
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I’m Michael Nasser and we’ll be back next episode, covering another step on the journey to owning your first home