Most people use their money to buy themselves misery. They buy big houses with big mortgages and that takes 50% of their paycheck.

They're stuck there like an anchor, and it forces them to live a low, insecure, small life. They're using their money to buy misery every day.

I only have made it important because it allows me to buy assets that give me my time back.

That's the only, the only reason to have money is to do that, because at the end of the day, that's all that matters is your time.

But people aren't doing that. They're compromising their time. They're compromising their happiness. They're compromising relationships, compromising everything in pursuit of money to then use it to buy dumb stuff that makes them miserable.

How many years did you spend to be time-rich? >> Well, when I was working in Abu Dhabi, I would drive, I'd leave Dubai.

I was living in Dubai and working in Abu Dhabi. It's about an hour and a half commute there and an hour and a half commute back.

So I get in my car in the morning, drive there, >> work there, drive home five days a week.

>> Oh, and and and I read the book, the audiobook at the time, 'cause there was no podcast back then.

The 4-Hour Workweek by Tim Ferriss. >> All day. >> Yeah. And so I thought, well, I want a 4-hour workweek.

>> It was profound. The philosophy of how he lived is how I wanted to live. I don't like to do what other people do. I like to do what the crowd is not doing.

That's why I fell in love with Warren Buffett. Be greedy when others are fearful and be fearful when others are greedy.

So I like to zig when people zag, right? So I was like, well, everyone else is commuting, busy on the roads.

Everyone's doing this. If if everyone did it and everyone was rich, all right, you get rich doing it, everyone would be rich.

So I'm like, what am I going to do? So I listen to that book and I'm like, okay, first and foremost, I need to get out of this job because a job stands for just over broke.

I was like, I need to get out of this job. So I saved up about $30,000 and I then resigned from my job.

I walked out of that job when I was 28, and I came back to Australia and got into business with my dad.

Now my dad had been in business for a long time. He has a real estate business and I never had any real estate experience.

So I came back here and got into real estate because I needed to learn selling and I needed to learn marketing.

I needed to learn small business. Now I didn't have any wage, nothing, no money. I just had to make sales and it took me six months of work before I made my first sale paycheck.

Yeah, very. But I had like saved up enough money to be able to do that. So I funded my way into that situation.

And that's why I say money buys happiness because one, the money that I'd saved up allowed me to retire, uh, resign from my job.

>> Made me happy. >> Then it allowed me to get into business with my dad. I learned more skills and I made a bit more money, which made me happy.

>> But then as I was doing that, I was still working six days a week. It was better 'cause my commute was 15, 10 minutes.

>> My commute to work was only 10 minutes, >> and I was working with my dad. I love and I enjoyed that more, much more than what I did before.

But then I was like, you know, I don't have the freedom I really want.

So I started after that, I started in network marketing on the side to make extra money to invest in shares 'cause that was my objective is to get the share portfolio to 2 million to get enough passive income.

So I started with my wife and my sister and we started marketing, you know, health supplements online and we scaled it to, it took us about 4 years to scale it to 180,000 a year income and I was like, wow, we have our job still plus we have 180,000 a year income and that was put into our share portfolio and scaling our portfolio and I got my shareholding in Berkshire halfway up to 400,000.

I think at that time, this was in 2000, I was buying shares for $89.

so that's how I started to build wealth. Now, what happened then was I was like, "Well, I don't want to go to the office anymore and work." So, we had enough money from our side business.

And that was 11 years ago. And so, that at that point in 2018, I had a conversation with my dad.

I had to break up with my dad and leave the business, which was not easy to do and go out on our own in our online supplements business.

Like, we traveled everywhere. We, I've been to Machu Picchu, Peru, Hawaii, America. Like, we've traveled a lot. Mhm.

So, I would say when I was truly free was 2018, but the day and the year I decided I wanted to, when I listened to that book by Tim Ferriss, 4-Hour Workweek, was 2010.

So, I think to answer your question, it was 8 years. Eight years is what it took. It took eight years.

Yeah. To have that freedom. And then beyond that, you know, since 2018, what's that? Two, seven, the last seven years, we've really just fortified our position.

We've started three more, four more businesses. We have built our portfolio up further.

We've got no debt. Uh, we have a little bit of business debt on a laundromat we own. We rent. We don't own our place.

We live on the river here. We don't own a house. We don't have a mortgage.

We're mortgage-free. So we rent. We have one car that's paid off. We have no credit card debt. We have a share multi-million dollar share portfolio.

And we have four businesses or five businesses that cash flow us. Two of them are online. One's a laundromat business that acquires laundromats.

Another one's an events business, and we just started, uh, we really literally just started an accounting business.

Mhm. So, I've just found that I think positioning or figuring out a life that was going to create more time was it just made more sense to me than, "Well, how much money can I make?

" 'Cause I I read this really good quote today.

Actually, this is really good. I shared it to my stories on Instagram.

So, here we go. "No price is too high to pay for the privilege of owning yourself." No price is too high to pay for the privilege of owning yourself.

But anyway, think about that. So when people say, "Well, how long did it take or was it worth it?

" Or, "Did you put effort in?" No price was too high for me to pay for the privilege of owning my own life.

So I was prepared to do anything is what that means. I was I was unstoppable. Like nothing made more sense to me than being able to do what I want when I want.

Like just that that's wealth. Rich is when you got lots of money, but you can be rich with lots of money and have no relationships, divorced, no relationships with your friends, you have no time to go skiing.

Yeah, you can be so busy that your calendar owns you.

You don't own your life. So, I own my calendar.

I spend time with my wife every day. We do anything we want. We go lunch together.

I've got good friends. I spend time with them. We just went skiing in New Zealand just off the cuff. A friend of mine invited us to go helicopter skiing in New Zealand.

Wow. So, we just said, "Yeah, we'll go because we can because we've positioned our businesses, our lives, our partnership, our diary, our finances in a way that enables that." And I just don't think people are building their life with that philosophy.

They're building a life of a philosophy of, well, I'll work really hard and I'll make all this money, and when I get this much money, then I'll live my life.

For me, that's backwards. I think Warren Buffett says it best. You know, he said that's like saving up sex for old age.

Like, why don't you just build a life? And by all accounts, for sure, it takes effort to build businesses.

Without a doubt, I'm not saying I never worked. I'm not saying I still don't work. I still work now, but I work in such a way that I get people to do things for me and with me.

I've got partnerships, um, systems. I'll do the systems do a lot of the heavy lifting.

You know, like while we've been doing this this morning, our sales team's been doing sales for us.

My marketing partner is doing all the marketing for our book. I've got our laundromat just pulling in money just like every day, my business partner's currently... This morning he was at a laundromat convention.

I'm not... he's there because he's in charge of the operations, and um, our network marketing business is ticking along, you know, like everything's leveraged.

So I think if you're looking at, like everyone knows about compound interest. I think it was um, Albert Einstein that said it's the eighth wonder of the world.

Those who understand it will do well, and those who don't will pay the price. But the ninth wonder of the world, once I worked this out, it made us way rich.

Like you get your time back and you get money, and it's called leverage.

Leverage. Leverage is the actual wealth builder. And there's three types of leverage. One is the one we both know, which is capital leverage.

So like if you look at who's great at that is Warren Buffett. Like he he he buys, like capital leverage is where you buy income.

So like you buy shares in an ETF or something that pays you passive income, right?

That's a good way. You're leveraging your capital to produce money. The second one is uh, people leverage, and this is an underappreciated... It's the easiest leverage because you just get someone to do something for you.

Like here's an example: Let's say, let's say you're filming now, and as you leave here to get on the plane today to go to Sydney, you send this episode to someone on Fiverr, and they do the editing for you.

Yeah. Right. So you're leveraging that person to do the bit of work while you're free.

>> Employee. >> Yeah. Well, it's it's I think what scares people about people leverage is they think they've got to get an employee, >> but you don't.

You just have to leverage someone's skills for a short period of time and contract them.

>> So, I look to contract people, not employ people. So, I want them to produce something.

I don't want them to just get paid for their time. And so, finding other people to do things for you.

So, finding someone to do your sales, finding someone to do your editing, find someone to do your like >> I outsourced our podcast development and production and everything to ask someone else, >> so I don't have to do it.

>> Um, and I So, finding others, there's a really good book on this that your audience can grab.

It's by a guy called Dan Sullivan. >> Mhm.

>> Brilliant book. It changed how I thought about time and business. It's called The Who, Not the How. >> The Who, Not the How. It's all about people ask themselves a question, well, how will I do this?

And how will like how will I start a podcast? How will I edit?

How will I do this? How? And the answer's the question is wrong. It's who will do this? Who? And if you look at leverage, it's like if you get other people doing things for you, you don't have to do it.

And on a very small scale, let me explain this little lesson.

There's two stories. One is Warren Buffett. >> I think he was seven or eight at the time.

And, uh, what he would do is he would go to the local golf courses and he would fish out the balls from the water and he would sell the balls back to the clubhouse.

So he at a very young age, he was, he was business savvy, right?

And he realized that getting the balls out of the water was a very dirty job. I don't want to do dirty jobs. Like he says this, he has this saying, hard work won't kill you, but why take the risk?

And so he hired, what he did was he said to his friend, "Listen, if you fetch the balls, I'll pay you like 30% or 50% of the profits." So the guy, the kid was fishing the balls out, won, took the balls and sold them, they were paid a dollar and he paid him 50 cents.

Business. Yes. Business is about not working and people think it's about working. And the minute you stop working and start actually getting others to do it for you, then you're a business owner.

I've got two, uh, who are three nieces, but one of my wife's sister's got two young girls, very young.

And they were getting a gold star at school. If they did a job, Uh-huh. at home, like a chore, they would get paid a dollar.

And so what that was teaching her was how to work. And I said to her mom and I said, uh, you know, if you want to teach her business, get her to tell her you're going to pay a dollar for this chore.

Like, make the bed, do the dishes, you'll get paid a dollar, as an example. What you need to teach her is get her to get her youngest sister to do those tasks for her, while she sits on the couch and watches TV.

And then pay her the dollar, and she pays the sister 50.

That is business. That's how business works. Because there's a saying, it's better to own 10% of a watermelon than 100% of a grape.

What does it mean? Well, if you own 100% of a grape, grapes this big, you own 100%, which means you're doing everything.

“수십억을 벌고 깨달았어요”, 99%는 모르는 돈에서 자유로워지는 방법 | 호주 Ep.7-2

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“수십억을 벌고 깨달았어요”, 99%는 모르는 돈에서 자유로워지는 방법 | 호주 Ep.7-2

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