Will the banks stop you from building wealth?
Over the past couple of years there have been many changes that have dramatically reduced your borrowing capacity. The Financial Services Royal Commission, government has put pressure on the banks to reduce investment lending and a directive to tighten lending standards just to name a few. If you are unable to borrow then your only alternative is to invest your after-tax income/savings… and that is a much slower path to wealth.But don’t despair. You can still leverage your assets and income to build wealth. It’s just that some of the rules have changed.Be more proactive and plan aheadGone are…
The skinny
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