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In this episode, we delve into the fascinating world of the property buying lifecycle, offering invaluable insights through the lens of a seasoned financial advisor. Now, before you dismiss this as irrelevant to your current situation as a first home buyer, hold on tight! We\'re about to uncover how your first home purchase can be a stepping stone towards long-term financial success.

As we explore the property buying lifecycle, we\'ll touch on the potential for future property acquisitions, whether it be upgrading or diversifying your portfolio. You\'ll gain a holistic understanding of how your initial home purchase can become a springboard for building wealth, providing you with the flexibility to adapt and grow as your circumstances change.

Discover the critical factors to consider beyond just finding a roof over your head and learn how to approach your first purchase with a strategic mindset, ensuring that your property aligns with your long-term goals and aspirations.

Tune in to gain the knowledge and confidence needed to make informed decisions at every stage of the property buying lifecycle.

Episode Highlights:

00:00 - Welcome to Your First Home Buyer Guide Podcast!

02:13 - Meighan\\u2019s special house of the week

04:14 - Why property and wealth creation go hand in hand

08:53 - Stuart Wemyss\\u2019 podcast and the Home Buyer Guide\\u2019s phases of life

10:22 - Phase 1: The recommended time to master cash flow management

14:12 - Why you need an investor\\u2019s mindset when buying your first home

17:25 - Phase 2: Before starting a family \\u2013 career progressing, income increasing

20:17 - Phase 3: The almost impossible to build wealth phase

22:43 - Tips for continuing to build wealth even if you\\u2019re in phase 3

24:45 - The importance of understanding different needs through different phases of life

30:16 - You also need to think about other investment opportunities other than property

31:16 - Having a home you own can help in retirement

33:12 - When is a really important time to get advice from a financial advisor?

35:06 - Final phase: The retirement age

Resources:

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• Investopoly Episode 253: The typical life cycle of an investor https://podcasts.apple.com/ph/podcast/the-typical-life-cycle-of-an-investor/id1348458167?i=1000609537175
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• Listen to Stuart Wemyss\\u2019 podcast Investopoly https://podcasts.apple.com/ph/podcast/investopoly/id1348458167
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• Investopoly by Stuart Wemyss https://amzn.to/3OkkTpu
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• Visit our website https://www.homebuyeracademy.com.au/
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• Learn how to buy property without making a mistake with our 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
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• If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au
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• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
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• Work with Veronica: https://www.veronicamorgan.com.au
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• Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/
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• Work with Meighan: https://www.linkedin.com/in/meighanwells/
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If you enjoyed today\\u2019s podcast, don\\u2019t forget to subscribe, rate, and share the show! There\\u2019s more to come, so we hope to have you along with us on this journey!

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• Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
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• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825
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• Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f
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