평생 출근하기 싫다면, 지금 제대로 알아야 할 돈의 원리 | 호주 Ep.7-2

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 of 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 that makes them miserable. How much years did you spend to be time each? >> Well, when I was uh 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 5 days a week. >> Oh, and and and I read the book, the audio book at the time, cuz there was no podcast back then. The 4-hour work week by Tim Ferrris. >> All day. >> Yeah. And so I thought, well, I want a 4-hour work week. >> 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 fall in love with Warren Buffett. Be greedy when others are fearful and be fearful when others are greedy. So I like to zigg 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 cuz a job is stands for just over broke. >> I was like, I need to get out of this job. So I 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 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 cuz 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. >> Isn't that feel insecurity at that time? >> 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 cuz 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 cuz 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 >> and it's now $490 today right >> so that's how I started 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. >> And then we just traveled the world. Like, we traveled everywhere. We 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 the year I decided I wanted to when I listened to that book by Tim Ferris, 4-hour work week 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 or figuring out a life that was going to create more time >> is was it just made more sense to me than well, how much money can I make? Cuz I I read this really good quote today. Actually, this is really good. I 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 you can be so busy >> that your calendar owns you. You don't own your life. So, I've I own my calendar. >> I spend time with my wife every day. We we we do anything we want. We go lunch together. >> I got good friends. Spend time with them. We just went skiing in um 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 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 of 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 why don't you just build a life and 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's I get people to do things for me and with me I 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 our marketing my marketing partner is doing all the marketing for our book I've got our laundry match just pulling in money just like every day my business partners currently. This morning he was at a a laundromat like convention. I'm not he's there cuz he 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 a 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's 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 un under appreciated it's the f 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. >> And another example is my little niece. 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 >> Uhhuh. >> 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 show 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. But you can have that much money if you want. But if you have a watermelon and you take 10% of the watermelon and then your partners take the rest, 10% of a watermelon is still bigger than 100% of a grape. >> Yeah. >> Right. >> Yeah, that's right. >> So it's better to earn like for example, it's better to have partners and earn a million dollars a year >> and you will take say h 100red grand >> than you to do everything and make 50,000. >> That's right. People leverage. >> People leverage. So that's the second type of leverage. The third type of leverage which is beautiful leverage which we're doing Conan right now is systems leverage. and systems leverage. System stands for save. It's an acronym system. >> Save yourself time, energy, and money. >> That's what it means. So, like right now there's I think I've got 26 software systems working in our businesses while we're sitting here. >> So, let's start at the beginning. Our ClickFunnels account is hosting our book. The Facebook ads and Mark Zuckerberg's businesses are running ads for us. And our email is capturing emails and sending automated emails out to people while we're sitting here. Our cuity calendar is booking a people in. our our Stripe accounts taking payments for us. Um there's so many pieces of software that you can leverage that will help you >> achieve a lot more by doing a lot less, which is objectively what leverage is all about. >> Achieve more by doing less. Our laundromat, look at that. That that that business does so well. It don't have to go and wash the clothes. It's the system that's doing it for us. Systems leverage is better than people leverage in many respects because you don't they don't call in sick. They don't require relationships. You don't have to nurture them. And now they work 24/7, 7 days a week. They don't take any time off. They don't sleep. So you got to you got to leverage capital to build people leverage and systems leverage. >> Then sometimes we can hear that uh money isn't perfectly related to the happiness. >> Uh yeah, >> how do you think about that sentence meaning? >> Okay. Well, I have this saying money buys happiness. >> Mhm. >> And it's the opposite of the old saying, money doesn't buy happiness. Right. And I think it's really interesting because most people use their money to buy themselves misery. They buy they use their money to buy misery. So they use their money to buy things they can't afford and create debt which creates 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 uh insecure small life. They're using their money to buy misery every day. and and and if they just use their money to buy happiness, like I took my money that I had and I bought skills. Then I bought systems and people into business and I bought stocks that were cash flowing >> and I bought um you know a car but when I bought it I bought it secondhand 3 years old and I saved myself a h 100,000 in depreciation expense. >> I did that and I did it with my money. So my money buys me happiness. The way I buy things like what I buy and how I buy it dictates my happiness levels. Um, and I also don't optimize my life for money. So whilst money buys happiness, it only does that when you don't make it the number one thing. I only h have made it important because of 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. There's no other point. >> There's no point in having money for status. There's no point in having cash in the bank. There's no point. The only point to money in my opinion is to have it to buy or build assets that give you back your time. Because at the end of the day, that's all that matters is your time. It's the most important thing. It's more important than influence. It's more it's just your own time to do what you want to do. But you know, again, people aren't doing that. They're compromising their time. They're compromising their happiness. They're compromising relationships. They're compromising everything in pursuit of money to then use it to buy dumb that makes them miserable. And I think that's the philosophy that I want people to know about when I say money buys happiness.