RETURN TO CHANNEL

Search Captions & Ask AI

How To Save $100,000 & Is Buying a Property Overrated? Luke Kemeys DEBUNKS Money & Finance Myths

October 06, 2024 / 02:07:24

Video

00:00:06

Luke kimy welcome to my podcast hey

00:00:08

thanks for having me uh the pleasure is

00:00:10

all mine um mate there is so much to

00:00:12

talk about with you uh we'll talk about

00:00:15

who LC is we'll talk about boys get paid

00:00:19

uh talk about next advisory and keep the

00:00:21

change yeah by the way so next advisory

00:00:23

is boys get paid as your betting

00:00:25

Syndicate yes um next advisory is your

00:00:28

accountancy business day job yeah and um

00:00:31

keep the change that's your podcast yes

00:00:34

yeah you're a man with a lot of hats

00:00:36

well mate I'm just trying to following

00:00:37

your footsteps you know I grew up in

00:00:39

Danny

00:00:40

bur Army boys and listen to Mike West

00:00:43

and Baldrick uh back in the day so yeah

00:00:46

just trying to keep up well good on you

00:00:48

for um getting a life outside of Dan and

00:00:50

not succumbing to myth oh yeah yeah look

00:00:54

shout out to all those people watching

00:00:55

from dber I'm sure they are doing well

00:00:58

yeah uh what what house were you at boy

00:01:00

High uh albian albian oh yeah yeah I was

00:01:03

Gordon the light blue sing it's a weird

00:01:05

I can't remember my alarm code some days

00:01:08

but I still remember what house I was in

00:01:10

and the the lyrics to On pal North boys

00:01:12

high yeah doing a bit of marching the

00:01:13

other day were you all day every day um

00:01:17

a couple of quick ones before we get

00:01:18

into it um I've heard that your goal is

00:01:20

to help 100,000 kiwis get better with

00:01:22

financial literacy what does that mean

00:01:24

exactly that number is that a number of

00:01:26

like customers you have in your business

00:01:28

is it a number of um listeners on on

00:01:30

your podcast yeah so like I I know I

00:01:32

won't actually be able to measure that

00:01:33

to you know it's not like I'm sitting

00:01:35

there keeping a score of where am I at

00:01:37

am I at 36,000 And1 but basically for me

00:01:40

it was around setting a bigger goal of a

00:01:43

lot of people that if I could help them

00:01:45

then that would mean that good Cal would

00:01:47

probably come back to me in that process

00:01:50

um but also would have a a better

00:01:53

equipped and educated New Zealander to

00:01:55

then teach somebody else and then we

00:01:57

have a better economy we have a better

00:01:59

country and just people thinking a bit

00:02:01

cleaner so I kind of come across the

00:02:04

concept of the more people you help then

00:02:07

eventually you help yourself life gets

00:02:09

better as well so that's how it came

00:02:12

about and I thought right 100,000 people

00:02:14

that's a lot of people to try and touch

00:02:16

or help or educate and so I just

00:02:19

basically pulled it out of thin air but

00:02:20

that's the sort of big herey audacious

00:02:22

goal as such magic number and how you

00:02:23

getting on uh not too bad yeah I mean I

00:02:27

wouldn't judge it as followers on

00:02:29

Instagram or

00:02:30

social media followers or um podcast

00:02:33

listeners for instance I sort of judged

00:02:35

on people messaging me saying hey you've

00:02:38

you've helped me you've changed my life

00:02:40

is obviously like a major one but this

00:02:42

is what used to happen for me this is

00:02:44

what I'm doing now oh I learned this and

00:02:47

if you know I'm getting a lot of those

00:02:48

now and the really cool thing for me at

00:02:50

the moment is a lot of them are saying

00:02:51

back in 2022 back in

00:02:53

20121 and so that understanding that

00:02:56

it's a long-term Journey so I know that

00:02:58

the more of those that I get they the

00:03:00

helping somebody probably as well

00:03:01

whether that be in their family uh or

00:03:03

whatnot so then the snowball starts to

00:03:05

roll so I don't know if I'll ever

00:03:07

actually be able to say like hey I know

00:03:08

that I definitely helped 100,000 people

00:03:10

um but that's just what I started aiming

00:03:12

for well the number will end up so so

00:03:14

it's just like a a fake number really

00:03:16

but the number in real terms will end up

00:03:18

being a lot higher than that I'd imagine

00:03:20

right yeah I'd hope so and I think part

00:03:22

of it as well was to actually like put a

00:03:24

goal out there to show people what I was

00:03:26

trying to do so it's not just like

00:03:27

another decade with the podcast sort of

00:03:29

thing here go there's actually some like

00:03:31

this is what I'm trying to do in the

00:03:32

background with this but your your

00:03:34

podcast and the advice you give and we

00:03:36

we will get into this later it's it is

00:03:38

really really good I mentioned on um my

00:03:41

Instagram yesterday that um you know you

00:03:42

were coming around for a chat and I've

00:03:43

got cards and cards of like questions

00:03:47

seriously so many um we'll start with

00:03:49

one of them now if you could give one

00:03:50

piece of of financial advice to everyone

00:03:53

like across the board what would it be

00:03:55

oh man it's so hard to put everything

00:03:57

into one but like if we could get more

00:04:00

kiwi people to understand that you don't

00:04:01

actually get paid for the time you get

00:04:03

paid for the value that you create I

00:04:05

think we have a very different country

00:04:07

so what I mean by that is that when we

00:04:09

leave school for a long time I think the

00:04:11

conversation has been go get a job

00:04:14

you'll earn x amount per hour I did the

00:04:16

same thing you know four squares that

00:04:18

that sort of thing um but then you bump

00:04:21

into these people that are earning more

00:04:23

and you think like what are they doing

00:04:24

different to me and a lot of the time it

00:04:27

is that they are adding value to the

00:04:29

marketplace so it could be a podcast

00:04:31

sponsorship for instance and you know it

00:04:34

could be that you you know the simplest

00:04:36

example for people to understand this is

00:04:38

that if you go over to your next door

00:04:40

neighbor and you say hey can I clean

00:04:41

your gutters it's going to be 250 bucks

00:04:44

someone might say yes but it might take

00:04:45

you 30 minutes so all of a sudden your

00:04:48

hourly rate is $500 because now you've

00:04:50

just learned that you get paid for the

00:04:52

value you bring to the hour so it's the

00:04:54

fact you've got a ladder you can climb

00:04:55

that you're not scared to do that uh you

00:04:57

know what to do you'll do a good job you

00:04:59

actually ask to do that and then you

00:05:02

know someone sees you doing it and then

00:05:04

you go over to the next neighbor and it

00:05:05

starts to snowball and if if more people

00:05:07

understood that they actually are really

00:05:10

really valuable then I think they would

00:05:13

then learn okay how could I increase my

00:05:15

value and therefore increase my income

00:05:17

and their money would be less of a

00:05:18

stress for them does that make sense uh

00:05:20

it makes perfect sense okay good yeah no

00:05:23

it makes a lot of sense there's so many

00:05:24

questions like that um yeah this is

00:05:26

going to be a lot of fun right first of

00:05:28

all let's um zoom in on Luke Kim about

00:05:29

so you're from you're from Vegas Danny

00:05:32

Vegas um you took the bus to to boy High

00:05:36

yes an hour each way about an hour 10

00:05:38

yeah something for me I don't know what

00:05:40

that was my both my brother and sister

00:05:42

went to Danny high school and no shade

00:05:43

on that but I think I'd seen my step

00:05:45

brother go to paliston nor boys and I

00:05:48

think I wanted to do something different

00:05:49

and I said to to Mom and my stepdad I

00:05:52

want to go to palmy boys I didn't really

00:05:53

know anyone there I don't know yeah it's

00:05:56

hard it's almost like my life changed um

00:05:59

because of that and it knew where it

00:06:01

wanted to go in some ways and so that

00:06:04

was me up at 6:00 in the morning from

00:06:06

third form um year 9 and then yeah hour

00:06:11

over there hour back so 6 to 5 was a

00:06:14

normal day for me going to school as

00:06:16

such with the bus

00:06:17

commute that was um yeah that was

00:06:19

instigated by you yeah yeah yeah you you

00:06:22

weren't K to Bard or was that just not

00:06:23

an option too expensive I think we might

00:06:25

have looked at B but I think yeah it

00:06:26

might have been too expensive yeah so M

00:06:28

and what was your what was your school

00:06:30

experience like what what were you like

00:06:31

were you like a a smart nerdy kid or I'd

00:06:34

love to say mate that you know I was in

00:06:35

the first 15 I was pting for the fellas

00:06:38

and the girls were picking me but no you

00:06:40

can fit me inside my

00:06:41

backpack I was doing my homework on the

00:06:44

bus I was yeah I was pretty probably

00:06:46

pretty geeky but I was you know I think

00:06:48

I had some EQ and social skills about me

00:06:50

I played football as well so I'd go back

00:06:52

to P me on a Saturday play thought I was

00:06:55

quite good in Danny but get to palon nor

00:06:57

realized oh [ __ ] some of these boys are

00:06:58

a lot better at this than I am um but

00:07:01

yeah I really enjoyed it it taught me a

00:07:03

lot and I think it set me up work ethic

00:07:04

wise to now not see you know 9 to5 I

00:07:07

don't see that as a long day but I

00:07:09

suppose it is if you don't enjoy what

00:07:11

you're doing but for me you know doing

00:07:13

long days has always been um part of my

00:07:16

life from from a young age yeah and what

00:07:18

about accountancy when did when did the

00:07:19

idea come to become an accountant

00:07:21

because no one no one is a dreams of

00:07:24

being a charted accountant no every year

00:07:26

mate I go back and speak to well for the

00:07:27

last three years to the year 11 boys

00:07:29

from Wellington college and for 3 years

00:07:31

I asked the boys hey who wants to be an

00:07:34

accountant put your hand up here if

00:07:36

you're you know going to study

00:07:37

accounting and in 3 years no one's put

00:07:39

their hand up like oh [ __ ] this is bad

00:07:42

it's either going to make the

00:07:43

accountants a lot more valuable because

00:07:44

there's going to be less of them but

00:07:45

it's just not fashionable but I think if

00:07:47

I'm going to be really honest I think I

00:07:48

saw it as a vehicle that I could get

00:07:50

rich and then I could trade in the stock

00:07:51

market and I could be one of those

00:07:52

people so I thought oh I'm pretty sure

00:07:54

accountants get paid well I'll then be

00:07:56

able to take those skills understand the

00:07:57

stock market and invest into the stock

00:07:59

market and I think I had a fifth or

00:08:01

sixth form economics teacher that taught

00:08:03

me about shares and then that opened my

00:08:06

eyes where we were might even been

00:08:07

seventh form um but you were allowed to

00:08:10

you know trade some stocks with fake

00:08:11

money and I think I was I was on my

00:08:13

journey from there I'm like right well I

00:08:15

know I need to go to UNI it was sort of

00:08:16

the dumb thing to do you better go to

00:08:18

UNI and I didn't really like anything

00:08:20

else so right I'll study business and

00:08:21

then I'll do accounting and then if you

00:08:23

want to become a chartered accountant

00:08:25

and I guess I've always been like okay

00:08:26

well you know I know I'm smart enough to

00:08:29

um do that sort of thing so I would go

00:08:32

right well I want to be a CA well you've

00:08:34

got to do four years at University and

00:08:35

then your study starts again you've then

00:08:37

got to actually go and learn how to be

00:08:39

you know an accountant um outside of

00:08:41

just those four years so it's a long

00:08:43

educational Journey oh my God and is it

00:08:46

um is it horrible the stud it seems like

00:08:50

the worst University experience

00:08:52

imaginable did you enjoy it did you

00:08:53

enjoy numbers and stuff yeah I do like I

00:08:56

like numbers and I liked it but I

00:08:58

definitely have realized now of what I

00:09:00

do it's not what you learn at University

00:09:02

isn't necessarily the day-to-day of what

00:09:05

you do as an accountant so it's actually

00:09:07

a lot more people focused and helping

00:09:09

people understand what it is that

00:09:11

they're looking at and understanding the

00:09:13

numbers but yeah I didn't mind uni I

00:09:14

mean we did all the same things pissing

00:09:16

up and going out to the empty vessel and

00:09:18

taking out um$ th000 course related

00:09:21

costs and whacking those into the PO

00:09:22

keys and the fourth year I think I was

00:09:24

doing eight years of study a day so I

00:09:26

had a job at the worldw Distribution

00:09:28

Center so making like way too much money

00:09:30

too early um and piss most of that up

00:09:32

against the wall and that then leads

00:09:33

into lessons later on or reteaching

00:09:35

people not to do the same thing they're

00:09:36

in the same age but no I didn't didn't

00:09:37

mind uni yeah yeah something I picked up

00:09:40

upon there you talked about your course

00:09:41

related costs and spending them on the

00:09:42

pokeys um there's I don't know I like

00:09:46

I'm terrible with maths I don't know

00:09:47

anything about accountancy I'm not I'm

00:09:49

not a gambler either but I would have

00:09:50

thought um the two and we will get into

00:09:52

this with boys get paid as well which is

00:09:54

your bidding Syndicate um I would have

00:09:57

thought like gambling and any way shape

00:09:59

or form would go you know yeah conflict

00:10:02

with um being an accountant yeah yeah

00:10:04

yeah it's interesting when I started

00:10:06

doing the bgp boys get paid and the the

00:10:08

racing stuff and whatnot some people

00:10:10

would be like oh of course he is he's an

00:10:11

accountant and then but a lot of other

00:10:13

people would be like oh well um that's

00:10:16

weird you know why are you taking so

00:10:17

much risk um you're an accountant you

00:10:19

shouldn't be doing that you should know

00:10:20

better than that so yeah I don't know

00:10:22

what that is I guess with the racing

00:10:23

side of things I grew up with two uh

00:10:25

grandfathers who liked horse racing so

00:10:28

they maybe subliminally it was on in the

00:10:30

background my grandfather always had $2

00:10:33

coins and would give us those I Now

00:10:35

understand probably from playing the

00:10:36

pokes um so I guess I was maybe like

00:10:39

around it as such and then I just I

00:10:42

guess I probably because I was looking

00:10:43

at the share market at 17 years old then

00:10:45

some of the boys were turning 18 at

00:10:47

school they could get a tab account

00:10:49

start bidding on the on the NFL and that

00:10:52

just seemed exciting and then one of the

00:10:54

lads um his his uncle was a horse

00:10:56

trainer and so then we started going the

00:10:59

races on a Saturday so yeah I I

00:11:01

definitely see that they can flict and

00:11:04

yeah I've got to try and balance the two

00:11:05

as such because they can well both of

00:11:07

them can actually be very damaging in

00:11:09

terms of you know just going after money

00:11:11

and also gambling so actually learning

00:11:13

how to balance that as well are you are

00:11:15

you are you a problem Gambler I read

00:11:17

that you you you've you're on a

00:11:18

self-imposed band from the casino yeah

00:11:20

yeah I did that years ago when I was

00:11:22

starting my business Journey CU I knew I

00:11:23

was chewing up a lot of time there I

00:11:25

would be staying there late I'd then be

00:11:26

starting Monday on the back foot for

00:11:28

instance I did have the money to lose

00:11:30

anymore and I just got to the point

00:11:31

where I didn't really enjoy the casino

00:11:33

and so one day we're in there after a

00:11:35

few beers after saying we will not be

00:11:36

going to the cast tonight and I'm like

00:11:38

hey I want to ban myself how do you do

00:11:39

that and I'm like holy [ __ ] what are you

00:11:41

talking about mate and so I ended up

00:11:42

having to go back there you know no

00:11:44

beers in the system and sitting down and

00:11:46

doing that process but to get back in

00:11:48

you've actually got to go through

00:11:49

counseling and all sorts and because I

00:11:51

have never done that then I can't

00:11:53

actually go back in so I I thought that

00:11:55

it was a you know threee standown period

00:11:57

And I thought right that would give me

00:11:58

some time to get the business going Etc

00:12:00

and I roll back in there one night and

00:12:01

then you know credit to to them you know

00:12:04

uh facial recognition kicks them pretty

00:12:06

quickly it's like Mr kimy and so by then

00:12:09

bgp was sort of taking off and stuff and

00:12:11

people like Oh we must be going VIP

00:12:12

they're taking us out the back or

00:12:14

something kicking you out the side door

00:12:16

yeah 100% yeah oh my God you can't be in

00:12:19

here so I had to renew I just and I was

00:12:21

like [ __ ] this and just renewed my band

00:12:23

again but every time I go to Australia

00:12:24

or whatnot I'll I'll have a bit of a

00:12:25

player in the casino but I could

00:12:27

identify that was an area for for me I

00:12:29

didn't have a lot of control in

00:12:31

especially um when drunk or drinking and

00:12:34

so it was something that I just was

00:12:35

right out the easiest way to remove that

00:12:37

from my life as to as to Bear myself as

00:12:39

such okay so it was never like a problem

00:12:41

per se but you could just see it wasn't

00:12:44

um it wasn't really enhancing your goal

00:12:46

to reach your true potential yeah but I

00:12:48

guess that is a problem right cuz like

00:12:50

I'm letting something be in the way of

00:12:52

who I knew I could become um and so I

00:12:55

had to yeah I guess I was like starting

00:12:57

to get enough self-awareness to to think

00:12:59

maybe that's something I don't need in

00:13:00

my life right now and so I'm going to

00:13:02

move it out of the way but the easi

00:13:04

easiest thing especially like if you're

00:13:05

going on a you know social Saturday or

00:13:07

something with some mates this would be

00:13:09

just to go there watch them on the

00:13:10

roulette world or the blackjack table

00:13:12

and you know have a beer yourself but

00:13:14

not not B rather than ban yourself well

00:13:17

yes so then therefore I probably do have

00:13:18

a problem right cuz I'd be sitting there

00:13:19

itching like it was going to be 11 of

00:13:21

course it was going to be 11 oh I always

00:13:23

go 30 that's my birthday oh right I'm

00:13:25

going to get 200 out 200 becomes 2,000

00:13:27

holy [ __ ] what just happened there yeah

00:13:30

oh and how many how much counceling do

00:13:31

you need to get back I think you've got

00:13:32

to do five sessions I might actually go

00:13:33

and do it just to see what I learn yeah

00:13:36

be interesting yeah interesting content

00:13:38

potentially see what process you have to

00:13:39

go through and what sort of things they

00:13:41

ask you I could get them on a pod maybe

00:13:42

yeah yeah but yeah I I should probably

00:13:44

do it for the learning and then you

00:13:46

retach it as well yeah what about your

00:13:48

um your parents what was the

00:13:48

relationship like with money are they

00:13:50

are they um you know Financial

00:13:52

financially savy or yeah yeah I guess

00:13:55

and I think that's probably led into a

00:13:56

little bit of as well so uh my parents

00:13:59

have separated so my father and my mom

00:14:02

and they've both remarried and I've got

00:14:05

to live with basically both sets but

00:14:07

then also understand where both of them

00:14:10

have come from so dad and his wife like

00:14:12

no hands down like hands down would have

00:14:14

made more money than my mom and my

00:14:16

stepdad so then they've gotten into

00:14:18

property investment and things like that

00:14:21

but then dialed that back and going oh

00:14:22

actually I don't know if we want to do

00:14:24

that I think if you asked my dad he'd

00:14:26

give away like all of his money tomorrow

00:14:28

um and he's always doing you know one

00:14:29

day he rang me and he was like oh

00:14:30

there's a guy struggling down the road

00:14:31

in business we think we might lend him

00:14:32

some money and I'm like mate no like

00:14:34

that's not how this works but um that's

00:14:37

nice way nice very caring and very

00:14:40

giving and I've I've seen that a lot so

00:14:42

I've seen what you can do when you have

00:14:44

some money and then yeah it kind of

00:14:46

leads into some people that he would

00:14:47

hang out with um but I just I won't go

00:14:49

down that tangent too far yet that I've

00:14:51

then learned from as well but then Mom

00:14:54

and my stepdad probably like harder like

00:14:58

no I don't want to go to to work on

00:14:59

Monday I hate this um mom's like I can't

00:15:02

wait for 65 I want to retire I want to

00:15:03

get the pension and like from them I

00:15:06

sort of learning I don't really think I

00:15:08

want to live like that or what I'm

00:15:10

picking up is I want to find something

00:15:11

that I really like to do because I don't

00:15:13

want to have to dread going to work on a

00:15:15

Sunday and you know I worked in a

00:15:16

distribution center I've delivered

00:15:18

pamphlets I have worked in a Four Square

00:15:20

I've worked in a freezing works and

00:15:22

those were sorts of roles that I'd be

00:15:24

like man how long am I going to do this

00:15:25

for and so then when I found accounting

00:15:27

and business and stuff I'm kind of like

00:15:29

I actually don't hate this maybe I just

00:15:30

need to lean into this a bit more and

00:15:32

see where it goes so yeah I've probably

00:15:35

like outgrown some of the teachings from

00:15:38

uh my family around money or would

00:15:40

definitely do things with money that

00:15:41

they would be like whoa you know like

00:15:42

what are you doing but equally you know

00:15:44

they're very good at being like okay

00:15:46

well you know as an example right I

00:15:49

probably grew up thinking that I grew up

00:15:50

thinking that people in the cor Lounge

00:15:51

for instance we're You Know Rich

00:15:53

arrogant you know why why H they need be

00:15:55

in there secret elite club and you know

00:15:57

who goes to the dry cleaners what the

00:15:59

[ __ ] are they doing you know who can

00:16:01

afford to have someone dry clean their

00:16:02

shirts they must be minted now I'm like

00:16:05

I need to buy my time back because I

00:16:07

can't iron five shirts and take two

00:16:09

hours I should be creating content

00:16:11

helping a client whatever so I've had to

00:16:13

go on that journey of actually

00:16:16

understanding that how do people make

00:16:17

sense of the stuff yeah say how old are

00:16:21

you 36 36 so I'm 50 I'm I'm like 15

00:16:25

years older than you but feels like the

00:16:27

same sort of thing like growing up

00:16:28

anyone that had a COR membership it was

00:16:30

like [ __ ] flash now what is it like 500

00:16:32

bucks a year it's like it's just just

00:16:35

doesn't seem like a thing now just on

00:16:36

that um the first time I went in there

00:16:39

and I had this moment of like holy [ __ ]

00:16:41

I'm in here like I'm one of these people

00:16:42

now clocked it yeah I've clocked it and

00:16:44

it's packed I'm like oh this is a [ __ ]

00:16:46

all it's actually not that comfortable

00:16:48

and then um you know these two

00:16:50

politicians roll in and there's no seats

00:16:52

and I look up and I recognize them and

00:16:54

instantly my probably same as you like

00:16:56

my pmy boys mentality kicks in of oh

00:16:59

well they're more senior than I I need

00:17:01

to give up my seat um so I said oh would

00:17:04

you like my seat so that was my first

00:17:06

experience I got on there sat down got a

00:17:07

little shitty cupcake and then was like

00:17:10

oh well they should probably have the

00:17:11

seat they've probably got more important

00:17:12

work for uh to do than I do so I gave

00:17:14

them my seat walked out and sat back in

00:17:16

the maner and got my laptop back area

00:17:19

who who were they who were the Poes oh I

00:17:21

can't even remember it was like people

00:17:22

that weren't actually that famous but I

00:17:25

yeah like not yeah not a great we won't

00:17:27

turn thisen into a clip

00:17:29

if it's Jinder or or something I was

00:17:31

about to say I was going to lie so it's

00:17:33

like Jinder or someone just some back

00:17:35

Ben um that's yeah I've got a strange

00:17:39

relationship with money CU I um like

00:17:41

growing up as a teenager through the 80s

00:17:43

like Dad was a big sh Market investor

00:17:45

and um so he he just had like a sales we

00:17:49

job and then every now and then we'd go

00:17:50

to like Fisherman's table or Pizza Hut

00:17:52

to D in for dinner and it would be and I

00:17:54

look back now it's very strange it was

00:17:56

like if if it was a good down in the

00:17:57

sheare market but it it's fictional

00:17:59

money like it's it's not it's not he

00:18:02

wasn't actually any richer or less Rich

00:18:04

until he locked in those 100% those

00:18:06

gains so I look back now and it was a

00:18:07

strange mentality but I suppose he was

00:18:09

feeling rich on these days where Chase

00:18:12

or infratil or Telecom or whatever it is

00:18:15

yeah was going up yeah strange though so

00:18:18

did then then the 1987 crash happened

00:18:20

did he then teach you that it was

00:18:22

dangerous and scary and risky and just

00:18:24

be careful about investing no he he was

00:18:26

he was still right into it after that

00:18:28

okay nice yeah yeah he was like now

00:18:30

Now's the Time to buy there was there

00:18:32

was uh yes so there were good lessons

00:18:34

along the way there was like don't try

00:18:35

and catch a falling sword then there was

00:18:37

Now's the Time to buy and you know uh

00:18:39

dollar cost averaging and that sort of

00:18:41

stuff but that was at a after ' 87 so

00:18:44

you is that the year you were born 88

00:18:46

yeah yeah so you'd have no sort of

00:18:47

memory of this but it's like you had um

00:18:49

everyone was investing in shares and

00:18:51

suddenly everyone was scared of shears

00:18:53

for life like people lost money so

00:18:55

people that were dabling shears for the

00:18:57

first time would be like n never again

00:18:59

yeah you'll lose all your money and I

00:19:01

think we're like now just unwinding that

00:19:02

and it's a long you know it's nearly

00:19:04

2027 right it's nearly 30 years and I

00:19:06

think there's a generation of people

00:19:07

coming through going hey you know I

00:19:10

should be investing everybody talks

00:19:12

about it on Tik Tok and YouTube Etc so

00:19:14

what am I doing like why isn't it you

00:19:16

know why don't we do it in our family

00:19:18

but I think we then went now let's go

00:19:20

property all in on property as a nation

00:19:22

and yeah we can probably come to that

00:19:24

later on yeah yeah 100% I think that's

00:19:25

the thing it's like it's yeah Brooks and

00:19:27

mortar

00:19:29

to touch it you got something to live in

00:19:31

a roof over your head so what was your

00:19:33

relationship like with money in your 20s

00:19:35

were you you a spender yeah I think uh

00:19:37

yes I was and I earned a lot of money

00:19:39

early so I'm talking you know working in

00:19:41

the meat Works um with no real outgoings

00:19:44

and I should be saving for uni and and

00:19:46

whatnot I was doing that but I would

00:19:47

just be blowing it so I would get it

00:19:48

blow it get it blow it earn more blow it

00:19:50

and just get rid of it and I think

00:19:51

that's what would really [ __ ] me off is

00:19:53

that I should know better because I'm

00:19:55

studying accounting I'm studying

00:19:56

economics but why can't I like break the

00:19:59

ceiling why can't I um you know do

00:20:02

better when I know that I should know

00:20:04

this stuff you know I'm buying shears at

00:20:05

17 I'm buying A2 milk shares at 10 cents

00:20:08

they go to $23 for instance so I'm I'm

00:20:10

thinking about buying zero stocks but I

00:20:11

can't hold on to them I've got to then

00:20:12

sell them a year later because I just I

00:20:14

don't my relationship with money is not

00:20:16

strong enough to know like leave it

00:20:19

don't touch it and it's just right still

00:20:21

impulsive I'm financing um uh lazy boys

00:20:25

you know we never had a lazy boy growing

00:20:27

up [ __ ] it I'm going to finance one it's

00:20:29

this I'm financing KingSize beards in my

00:20:31

flat um if they're going to give me a q

00:20:33

card to finance this like why not I've

00:20:35

never had this [ __ ] this is unbelievable

00:20:37

um you know you don't have a truck to

00:20:39

bring it to your house you can pay 250

00:20:40

bucks to have it delivered bang it on

00:20:42

the Q card brother bring it around

00:20:43

tonight how good um stereo systems just

00:20:46

all of that stuff so I've done all of

00:20:48

the stuff that I'm now like hey don't do

00:20:51

that that's so cool you going to do

00:20:53

those things

00:20:54

still no do I have no who's the Lazy Boy

00:20:58

Lazy Boy feels like a cheer for Life

00:20:59

yeah yeah well you would think so the

00:21:01

stupid thing as well the Lazy Boy I

00:21:03

brought it and it was off the end of a

00:21:05

couch SE so it was even more expensive

00:21:07

they're like this one doesn't actually

00:21:08

come on Standalone I'm like you tell me

00:21:10

what it costs I'll Finance it and I'll

00:21:12

and I'll just have it and then the

00:21:13

people who buy the loung Suite they're

00:21:15

not going to get that one cuz it's going

00:21:16

to be in my flat but what realistically

00:21:18

ended up happening is like a lot of the

00:21:20

stuff just become material [ __ ] that

00:21:22

then I would leave behind us stad of

00:21:23

moving up through the country tanaki up

00:21:25

to Oakland and it was like you know my

00:21:27

parents were Le of the mess of oh now

00:21:29

we've got to go and you know empty your

00:21:31

flat out and who's going to take the

00:21:32

Lazy Boy and I'm might put it on

00:21:34

Facebook or trade me or something and

00:21:35

sell it so yeah I learned some very

00:21:38

expensive lessons through that when I

00:21:39

should have been going you know what I

00:21:41

shouldn't finance that bed I should be

00:21:42

buying some stocks for instance but

00:21:44

that's just just not reality of how I

00:21:46

think a lot of us as humans um relate to

00:21:50

money or how we behave with it no and

00:21:53

often I I think often you need to um

00:21:55

accumulate some material stuff to

00:21:57

realize that it doesn't actually bring

00:21:59

sustainable happiness I don't know that

00:22:01

was the case for me at least as well you

00:22:03

a Mercedes for a while didn't you I did

00:22:04

yeah yeah yeah I got a Mercedes you need

00:22:06

to do that stuff to realize like what am

00:22:08

I doing it's not making me happy yeah

00:22:10

and I like I get it a lot of people like

00:22:11

cars and I think especially um you know

00:22:13

like diamond rings are marketed at women

00:22:15

U so they think that they're really

00:22:16

valuable cars are marketed at men so we

00:22:19

think that those are really valuable and

00:22:20

our forms of success Etc and so we get a

00:22:23

flash car we've made it it's uh and a

00:22:25

lot of business owners that I deal with

00:22:26

that's their goal they want to porch

00:22:28

they want to fancy car they want a Lambo

00:22:30

Etc because that it

00:22:32

signifies that they have been successful

00:22:34

in what they're doing but I think where

00:22:36

it becomes dangerous is if we then tie

00:22:38

our identity into that so then if you

00:22:40

don't have the McLaren cuz it's off the

00:22:42

road and you have to drive a Toyota

00:22:43

Corolla what does that do to you

00:22:45

internally you know who do you become

00:22:47

what does it make you do does it make

00:22:49

you take more risk and borrow money Etc

00:22:52

um so yeah I for me we were getting

00:22:54

business vehicles and yeah i' I'd always

00:22:57

wanted a car like that and so yeah ended

00:22:59

up getting the the Mercedes and it was

00:23:01

it was not like the top of the range or

00:23:03

anything and it was actually pre-used on

00:23:05

the carlots it was cheaper then buying

00:23:07

it brand new and whatnot but it was it

00:23:08

was actually really cool it was like

00:23:09

another chapter of my life of like holy

00:23:12

[ __ ] okay this is what it feels like to

00:23:14

drive one of these cars and they're

00:23:15

already safe and you go to track days

00:23:16

and you learn about the technology

00:23:19

inside these vehicles and how they're

00:23:20

keeping you safe but yeah these I got

00:23:22

rid of it and I've got a a Tesla because

00:23:24

I saw that as being more efficient uh

00:23:26

and also just you know um helping out

00:23:30

supporting Elon Musk which as I say that

00:23:31

I'm like a lot of people won't like that

00:23:32

because they won't like him but I see

00:23:34

him as a massive entrepreneur and I was

00:23:35

like I should probably buy one of his

00:23:36

casts oh yeah have you um have you read

00:23:38

or listened to his audio book The Walter

00:23:41

oh it's amazing you know that that guy

00:23:43

Walter isacson I think he wrote The

00:23:44

Steve Jobs one I think I'm getting his

00:23:46

name right and this massive Steve Jobs

00:23:47

went sort of shattered him for years and

00:23:49

years and years what an intriguing guy

00:23:51

[ __ ] hard work I wouldn't want to be

00:23:53

his next wife no yeah seems like he's

00:23:55

hard work to be around hard work to be

00:23:57

in business with hard work to be married

00:23:58

to but the guys are [ __ ] genius but

00:24:00

we need people like him in the world I

00:24:02

agree like I think that's sort of once

00:24:04

in a lifetime talent that we get to see

00:24:05

and you know some people will like him

00:24:07

some people won't but will end up

00:24:08

looking back being like w that person

00:24:10

was pretty gifted and special and look

00:24:12

at how they saw the world and you know

00:24:14

if if we could some of us just think you

00:24:17

know 1% how he thinks then we might

00:24:19

solve problems in our own lives that we

00:24:21

care about also say like from um just

00:24:23

one of us one of his business ventures

00:24:25

tisler um you think about before tisler

00:24:27

we had like the 12 Prius and that was it

00:24:29

and if it wasn't for Tesla arguably we

00:24:32

wouldn't have um you byd or um poar or

00:24:36

you know any of the other cool and

00:24:38

acceptable um e Vehicles we've got now

00:24:41

yeah well that it just leads to more

00:24:42

Innovation and competition right yeah

00:24:44

and how's it um mentally how are you are

00:24:47

are you happy are you good yeah really

00:24:49

good you saw her every day yeah I've

00:24:51

dialed that back a bit which has been

00:24:53

quite interesting I've almost put a bit

00:24:54

of time back into my day but I still I

00:24:56

just well I probably gym four or five

00:24:57

times a week um and I used to just you

00:24:59

know be a lad that would lift heavy

00:25:01

weights and I did quite a bit of running

00:25:03

um and but I was like hurting my body

00:25:05

doing that ending up with different

00:25:07

injuries and I would just have to do

00:25:09

everything at like [ __ ] what's the

00:25:10

fastest I could do this did a half

00:25:12

marathon my first one in like an hour 33

00:25:14

that's good yeah and was like damn it

00:25:16

should have been an hour 30 you know how

00:25:18

come I couldn't go faster those last 4ks

00:25:20

and and ended up like hurting my

00:25:21

achilles and whatnot so ended up getting

00:25:22

a personal trainer and he was like oh

00:25:24

mate you've you've like really hurt your

00:25:26

body with what you've been doing over

00:25:27

the last 10 years we need to almost dial

00:25:28

you back take muscle off all the stuff

00:25:30

and start from the the feet up so that's

00:25:33

been quite a good check to the ego of

00:25:35

well I used to be able to bench 110 Etc

00:25:38

to now like sometimes I struggle to

00:25:40

bench 80 and you're like [ __ ] it's so

00:25:42

frustrating is he it's it's um it's a

00:25:45

it's a dude testosterone ego thing same

00:25:48

with running running fast or whatever

00:25:50

chasing PBS on you know weights or yeah

00:25:53

so so I guess through a little bit of

00:25:55

that then I found the saer and I liked

00:25:57

the saer and started getting ideas and

00:25:59

so I'm the sort of dude who takes my

00:26:00

phone into the saer and I'm having to

00:26:02

like write ideas down to me that are

00:26:03

coming to me and whatnot but I've met

00:26:04

some great people through saering as

00:26:06

well but part of that was to have a

00:26:08

sweat without then having to go and do

00:26:10

the the hard cardio Etc uh but I used to

00:26:13

do like a lot of Sprint training um and

00:26:16

running heels and just trying to thrash

00:26:18

myself and think that that was how I was

00:26:19

protecting my mind and that's how I was

00:26:21

going to get the most out of my body and

00:26:23

I'd be up early you know 4: 5 6:00 a.m.

00:26:26

and you know it's my uh partner has seen

00:26:29

me probably go through that iteration of

00:26:31

I'd have a 5 a.m. alarm P her off and

00:26:33

like straight to my desk do some work

00:26:35

and then I'd be off to the gym still

00:26:36

sort of do that but now I let my body

00:26:38

wake me up and I've probably just toned

00:26:40

it down a bit but yeah that's I don't

00:26:42

really struggle for well from like

00:26:45

anxiety um depression and things like

00:26:47

that which is is very lucky but also I

00:26:49

think I've uh tried to find some ways to

00:26:52

ensure that I can like not get there but

00:26:54

I know if I go on Benders or two and

00:26:55

three day boo strips with the boys and

00:26:57

stuff that week after like I am going to

00:26:59

question the decisions I'm making I'm

00:27:00

not going to feel as on I know I'm not

00:27:03

myself and then it starts to play with

00:27:05

you cuz you're like why am I not you

00:27:08

know vibrating at the level that you

00:27:09

know you can so that can be frustrating

00:27:13

um but yeah all in all are very healthy

00:27:15

very well and very happy well it seems

00:27:17

like you're doing all the right things I

00:27:18

think that's um I mean there's people

00:27:20

that have true um mental health issues

00:27:23

or depression and it's um that must be

00:27:25

um like isolating and terrify because

00:27:28

it's like I'm doing everything right and

00:27:29

I still feel like [ __ ] but it's if if

00:27:32

anyone has a mass of Bender or a seron

00:27:34

depletion you know you can you can

00:27:37

figure out the next week why you're not

00:27:38

feeling 100% yeah you've didn't didn't

00:27:41

you um I don't know if you want to get

00:27:42

into this or not but didn't you you

00:27:44

you've dealt with um suicide firsthand

00:27:45

didn't you discover a mate yeah yeah not

00:27:48

a not a mate but I actually um I went

00:27:51

home after that the races actually with

00:27:52

a friend of mine where I was staying and

00:27:54

where she was living this um this guy

00:27:57

had taken his own life and so I got

00:27:59

there and we got out of the taxi and I

00:28:02

could see that the garage door was open

00:28:04

and I'll just you know be respectful in

00:28:06

the way they tell the story given that

00:28:08

you know this is someone's son and and

00:28:09

their family and whatnot but I could

00:28:11

just sort of see I was like oh it looks

00:28:14

like there's a a coat hanging up or

00:28:16

something and I knew something was a bit

00:28:17

off and anyway we got out of the taxi

00:28:20

and we were walking in and yeah

00:28:22

discovered this this um young lad who

00:28:24

had had uh hung himself and I sort of

00:28:28

turned to the taxi and was basically

00:28:31

like help um because you know you don't

00:28:33

really know what to do right but I think

00:28:36

the taxi realized like oh [ __ ] something

00:28:37

is wrong and basically see you later so

00:28:41

yeah I guess um what I learned through

00:28:43

that was that like I stayed there and I

00:28:46

helped out and I think that's really

00:28:48

important I actually have talked about

00:28:50

this so many times I'm not sure why I'm

00:28:52

getting uh emotional about it but um

00:28:54

stayed behind to help which then the

00:28:57

family actually referenced on the other

00:28:58

side that you know thank you for for

00:29:00

doing that uh because in their eyes they

00:29:03

were sort of like you could have just

00:29:04

got back in that taxi and gotten out of

00:29:06

there and and left but that's I guess

00:29:09

not really how I was brought up it's not

00:29:12

uh then obviously how my body reacts in

00:29:14

a in a moment like that but yeah it was

00:29:16

pretty traumatic to see the you know

00:29:19

what the family had to then deal with um

00:29:22

you know trying to revive someone and

00:29:24

then waiting for the ambulance and

00:29:25

whatnot and yeah I probably

00:29:28

where I didn't go right as once I'd sort

00:29:30

of done all I could in the in the

00:29:32

environment I'm like I just want to get

00:29:33

out of here and so you know some of my

00:29:35

mates picked me up and I boosted and

00:29:37

went back and found a couple of uh green

00:29:38

vka Cruisers and just like that that'll

00:29:40

take the edge off and then next thing

00:29:43

it's like hey mate you know you can't

00:29:44

just leave you have to come back and

00:29:45

speak to the police about it and whatnot

00:29:47

so yeah it's probably changed uh the way

00:29:50

that I you know have well I I know that

00:29:52

you know mental health and whatnot and

00:29:54

those sorts of things are very real and

00:29:55

I see how many people are impacted by it

00:29:58

when you can just be sort of going about

00:29:59

your own thing um and then be faced with

00:30:02

that but it was also um a time in my

00:30:05

life where I was probably starting to

00:30:08

just think you why aren't things going

00:30:10

my way and why does this stuff happen to

00:30:12

me and I like the following weekend I

00:30:14

found a guy upside down on the road

00:30:16

falling off his motorbike and again I

00:30:18

was like [ __ ] why do I have to deal with

00:30:20

this like why is this why can't someone

00:30:22

else tidy this mess up or whatnot and I

00:30:26

now realized like very dangerous to get

00:30:28

get stuck in that way of thinking

00:30:29

because then you you will find more of

00:30:31

that stuff and it will start happening

00:30:34

and so I think that was a little bit of

00:30:36

the Catalyst as well of like well you

00:30:38

need to you know for for your life to

00:30:40

show up differently then you need to

00:30:42

probably show up differently to your

00:30:44

life and stop like almost looking for

00:30:46

those things or why you know things are

00:30:49

against you and why you having a deal

00:30:50

with those and just accept that those

00:30:52

things are going to happen hopefully not

00:30:53

to everyone but things will happen in

00:30:55

our life and we just have to go right

00:30:57

it's it's another chall but often now

00:30:58

with challenges or things that go wrong

00:31:00

I'm sort of like well I've dealt with

00:31:01

that before I've dealt with that before

00:31:02

I've dealt with that before this is just

00:31:05

you know something else to go through so

00:31:06

it sort of builds resilience in a way so

00:31:09

we've done this before yeah and also I

00:31:11

think another thing is um you um if you

00:31:13

expect life is going to be easy you're

00:31:15

going to be disappointed you need to

00:31:17

expect like the you know [ __ ] happens

00:31:20

like uh the guy on the motorbike that

00:31:21

you found like you had a bad day finding

00:31:23

him but his day was way

00:31:25

worse I was hung over as well I

00:31:30

did you she after um I think open and

00:31:33

candid about that um did did you like

00:31:35

how did you deal with that in the the

00:31:38

your days or weeks or months after like

00:31:39

finding finding someone dead did you did

00:31:41

you have any therapy or counseling or

00:31:43

you're not well uh because I think I

00:31:45

just did what you know I'll say LEDs but

00:31:47

probably most of us do was like ah

00:31:48

she'll be right we we'll figure it out

00:31:50

and whatnot but I've always been a

00:31:51

talker so I've been able to like talk to

00:31:52

my mates about it my sister about it uh

00:31:55

different people and so or when

00:31:57

something doesn't go right in my life

00:31:58

often I think the answer is to go and

00:32:00

talk to someone about it so whether it

00:32:02

be my dad or sister Etc I feel like

00:32:05

that's how I processes I've probably

00:32:06

been pretty lucky in that regard but

00:32:09

also where I worked there's probably

00:32:11

like three wom uh three men and about 12

00:32:13

women and so you know it's like having

00:32:15

10 more moms they they shut the door on

00:32:17

you and they're like now we understand

00:32:18

what has happened and you know if you

00:32:21

need to talk to anyone and okay and can

00:32:23

you just tell me a bit more about it and

00:32:24

you're like oh [ __ ] okay like locked in

00:32:26

your own office um but was great because

00:32:29

I was sort of forced to explain it and

00:32:32

whatnot but I think I did the wrong side

00:32:34

of me was like you know how could this

00:32:36

happen to me what the hell happened um

00:32:38

drinking and forgetting about it and

00:32:40

worrying that I was going to you know

00:32:43

keep thinking about it and and things

00:32:45

like that but yeah I didn't get any uh

00:32:47

formal or counseling as such I have

00:32:50

spoken about it in uh counseling or

00:32:53

speaking with qualify people to unpack

00:32:56

some of it as well and like later on but

00:32:59

at the time yeah I was probably just

00:33:01

telling more people that kid to actually

00:33:03

know about it for me to be able to

00:33:05

decompress what I'd gone through yeah

00:33:06

well there is that um that you know that

00:33:08

saying like a problem Shar is a problem

00:33:10

half which I think is absolutely true

00:33:12

and uh um yeah the these conversations

00:33:15

you're having like good open you know

00:33:17

vulnerable honest conversations yeah

00:33:19

yeah and I think you one thing my sister

00:33:21

said to me cuz I was doing the poor me

00:33:23

thing and why is this me and whatnot and

00:33:24

she sort of said to me well maybe it's

00:33:27

cuz you can handle these situations and

00:33:29

so that's why life keeps putting you

00:33:32

into them because you're the person that

00:33:34

can handle them and then I got the note

00:33:36

from the family around like thank you

00:33:37

for staying behind and uh that had sort

00:33:40

of changed one of the relationships or

00:33:42

the way that someone in the family was

00:33:44

um viewing their own son and that had a

00:33:47

bit of a rift by the seams and so it's

00:33:48

kind of like oh all young people are

00:33:50

useless and whatnot and so I'd sort of

00:33:52

broken their Paradigm of what younger

00:33:54

people would like because here's some

00:33:56

stranger that was willing to stay behind

00:33:58

and try and help and whatnot and just do

00:33:59

whatever we could so there's always good

00:34:01

that comes out of every situation uh and

00:34:04

I think that's then changed my lens a

00:34:06

bit to of okay maybe I am equipped to

00:34:09

deal with some of this Carnage and now I

00:34:11

look at the things that I do do in my

00:34:13

life and they're not you know like that

00:34:14

almost but how much I can juggle before

00:34:18

I sort of break and go like oh okay [ __ ]

00:34:21

I can't take any more on my plate and I

00:34:23

think it was probably a little bit of a

00:34:24

turning point of my life to actually

00:34:26

understand that I was you know capable

00:34:28

of some things that maybe other people

00:34:30

aren't yeah well that's nice thanks for

00:34:32

sharing no worries all right um let's

00:34:35

get the boys get paid so this is still

00:34:38

going and you still involved with that

00:34:40

yes yeah yeah yeah yeah so how how did

00:34:41

it start and grow so it's a bedding

00:34:42

Syndicate right massive Bing Syndicate I

00:34:45

I came across my radar I guess a couple

00:34:47

of years ago CU you in the new felt like

00:34:48

you in the news quite a bit yeah for

00:34:50

like massive massive uh bits so how did

00:34:52

it start yeah I guess so to go right

00:34:55

back to the start um made of our called

00:34:57

started a Facebook group as a way that

00:34:59

we could talk about horse racing to each

00:35:01

other and this was before group chats

00:35:03

and and um Facebook messenger and things

00:35:05

like that and so you would go in there

00:35:07

on the Saturday morning and say right my

00:35:09

best bet today is XYZ and then you would

00:35:11

have bragging rights for the next week

00:35:13

if your horse won or you might even

00:35:15

Chuck a dollar on it or whatever and it

00:35:18

was back in the days when Facebook

00:35:19

groups were open and it would just pop

00:35:21

up on everyone's feed and so a lot of

00:35:23

our friends are like oh stop talking

00:35:24

about [ __ ] horse racing we don't care

00:35:26

but then the people who were interested

00:35:28

like oh can I join and so it sort of

00:35:30

slowly started to grow and then we made

00:35:32

it private so that you know we weren't

00:35:34

pissing off people who didn't care at

00:35:35

all uh but then basically it just

00:35:38

started to then attract people in the

00:35:40

racing industry and some different

00:35:41

people who like pting and that was 2011

00:35:44

that it all started in terms of the

00:35:45

Facebook group so a long time ago now

00:35:47

but it wasn't until I think

00:35:50

2016 that we went to the Facebook group

00:35:53

and said um you know hey we're going to

00:35:55

go to the races in Wellington does

00:35:57

anyone want to come and was almost like

00:35:59

a fluke because

00:36:02

75ish I think it was 75 let's say 50

00:36:05

were like yeah I'll come and all of a

00:36:07

sudden it's like oh okay there's all

00:36:08

these random people meeting up in

00:36:09

Wellington to go to the races and you

00:36:12

know someone's from Nelson Christ Church

00:36:13

Wellington Oakland and my H good mate

00:36:17

Ben was just getting into videography so

00:36:18

I'm like mate bring the camera let's

00:36:20

let's make some content and uh then I

00:36:23

put the hat around and said right does

00:36:24

anyone want to truck some money in and

00:36:26

we'll do a bit of a bing syndicate and

00:36:28

basically you know I'll pay everyone out

00:36:30

at the end based on how we go is

00:36:32

everyone sort of getting a $50 note out

00:36:34

chucking it in we go on the train to the

00:36:35

races we have a hell of a time and you

00:36:38

know everyone lost their money but we

00:36:39

just had such a good time and it's was

00:36:41

kind of like now looking back it's easy

00:36:44

to be like and so then we were like

00:36:45

let's scale this up but really we were

00:36:47

just like well that's not even our

00:36:49

favorite race day our favorite race day

00:36:50

is in January maybe we should and we

00:36:53

sorry then we released the content as

00:36:55

well I think some people in the racing

00:36:56

industry are like w look what like those

00:36:57

guys had a great time we want to be a

00:36:59

part of that and so then we went to Ally

00:37:01

and said to them hey we love the kak

00:37:04

millions which is one of our best race

00:37:05

dayss in the country could we bring some

00:37:07

people and they're like okay great you

00:37:10

can have this area and so we went back

00:37:12

to the Facebook group does anyone want

00:37:13

to come along 75 people came along and

00:37:15

then I'd started i' quit my job by the

00:37:17

stage so I'd started to learn around

00:37:19

about just different things and

00:37:21

marketing and whatnot I sort of thought

00:37:22

I just learned about Google forms which

00:37:24

is just a quick form you can build and

00:37:25

people can fill it out so I said look if

00:37:27

if you want to put $100 into this Bing

00:37:30

Syndicate um then we will you know

00:37:33

collect the money we'll bet it and we'll

00:37:34

just go into the Facebook group live on

00:37:36

Facebook and do updates of how we're

00:37:37

going Ben bring your camera again let's

00:37:39

film the day and we started with 58,000

00:37:44

bucks and overd doubled it and so the

00:37:48

Facebook live content went nuts and then

00:37:50

people obviously start talking about it

00:37:52

the wrap-up video went off you just had

00:37:54

one of those days at the races that are

00:37:55

pretty hard to recreate and just

00:37:57

everything sort of went our way and it

00:37:59

was it's classic you know your your

00:38:00

first uh day is like the best best or

00:38:02

biggest one to such and then we yeah we

00:38:05

just I guess we knew that there was

00:38:06

something here and so then uh more

00:38:08

people wanted to join the group and

00:38:10

that's always been our our thing every

00:38:12

year that we really build that event up

00:38:14

and I was collecting all of that money

00:38:16

individually into my own personal bank

00:38:18

account reconciling okay Dom's put $100

00:38:20

in oh yep great took him off so 580

00:38:24

people or something oh my God why know

00:38:27

were you were you um paying yourself

00:38:29

were you getting a no this is I just

00:38:31

kind of thought oh if we get 200 people

00:38:32

put 100 bucks in have 20 grand like this

00:38:34

would be epic next thing it's just like

00:38:36

i' I'd refresh the page and I'm like oh

00:38:38

[ __ ] I've got to like this then I look

00:38:41

at my internet banking I'm oh my God so

00:38:44

so you was doing doing it for the love

00:38:45

of it it seems like a lot of work yeah

00:38:48

yeah it was yeah I very poor value of

00:38:50

your time 100% so so I guess like fast

00:38:53

forward to now but you know we've we've

00:38:56

solved that with a t so so well maybe

00:38:58

I'll just back a step after a couple

00:38:59

years I said to the T like why don't you

00:39:01

guys collect the money and then you can

00:39:04

refund everyone as well and well the

00:39:06

people there at the time are like ah nah

00:39:09

you know that's what you want to build

00:39:10

you you sort your own [ __ ] out cuz we

00:39:12

actually got a two or three years in

00:39:13

before we actually solved this problem

00:39:15

so you know we doubled everyone's money

00:39:17

that first year had to refund everyone

00:39:19

too now I need your bank account all

00:39:21

right copy

00:39:22

paste but I [ __ ] oh my God could you not

00:39:26

um like find some people from student

00:39:28

job search or something to I probably

00:39:29

should have but I didn't have any money

00:39:31

to do it didn't didn't charge anyone to

00:39:33

do this mate so you know then I'm having

00:39:35

to learn about business and margins and

00:39:36

stuff thinking like this is not very

00:39:38

smart

00:39:39

um but but fast forward to today and you

00:39:42

can actually enter via the the tab so

00:39:44

you go inning you pick the option and

00:39:46

basically they pull the cash and then

00:39:47

they just allocate it to us for the day

00:39:50

which is actually really good because a

00:39:51

it cuts down all their admin everyone

00:39:53

gets refunded within an hour after the

00:39:55

last race that we have a crack at and

00:39:58

there's no sort of like you know oh he's

00:40:00

kept 10% of the money and all this [ __ ]

00:40:02

that people come up with and and then

00:40:04

start spreading and you're like well how

00:40:07

could I cuz you know the tab have it Etc

00:40:10

so yeah that's sort of the that to wrap

00:40:13

it into a nutshell but going back to

00:40:14

what you're saying about um you know a

00:40:16

couple of years ago when the pool really

00:40:19

started to explode was when the tab took

00:40:21

the option that meant that anyone could

00:40:23

get involved basically rather than

00:40:24

people who had $100 or wanted to fill

00:40:26

the form out of didn't trust us Etc so

00:40:28

people were chucking a cent um a dollar

00:40:31

$2 20 50 Etc and it just widened it and

00:40:34

then the pool just started to Skyrocket

00:40:37

and you know we had a million bucks over

00:40:39

the last two events that we've done on

00:40:41

kak Millions nights we W yeah just it's

00:40:44

to the point where it's like a little

00:40:45

bit scary stage overwhelming who um yeah

00:40:49

how how do you ultimately decide how to

00:40:51

which way to PT so there was three of us

00:40:53

in the first year and so there's an

00:40:56

older guy called t he's done a lot of

00:40:58

race form for decades and years and so I

00:41:01

said to him oh do you want to be a part

00:41:02

of this can you help us out you know

00:41:04

what's your best bit here's my best B

00:41:05

and then another guy called Andrew

00:41:07

what's your best bet and so we basically

00:41:08

just pull our thought Comm yeah yeah

00:41:10

effectively so it's still the same

00:41:12

committee from day one through to

00:41:14

through to now when we do the karak

00:41:15

millions but we've done different

00:41:16

versions of it on different race days

00:41:18

and so we might bring in some different

00:41:20

people and play with it and just you

00:41:22

know see what's there but the karak

00:41:23

millions one in January is our is our

00:41:25

big goto yeah and and

00:41:28

the um the committee to whatever you

00:41:30

want to call it to decide how how the

00:41:31

big bet goes are you quite transparent

00:41:33

about that with all the this feels like

00:41:36

just too much pressure for me to handle

00:41:38

oh manate it can be like you know to be

00:41:40

honest we didn't go very well in January

00:41:42

and the year before so so we've had two

00:41:43

really dud years just as it's like

00:41:45

really exploded and I have kind of been

00:41:47

avoiding going back and having a look at

00:41:50

you know January just been because it it

00:41:52

just felt like it was way harder than it

00:41:54

needed to be and we were so close to a

00:41:56

couple of million dollar collect and

00:41:57

stuff and the whole story is completely

00:41:58

different but you know instead it's like

00:42:00

they lost half of everyone's money and

00:42:02

[ __ ] people are ringing me sending me

00:42:04

DMS sending me email sending the heral

00:42:06

[ __ ] stories about you know this guy

00:42:08

should never have done this and [ __ ]

00:42:10

what were they doing and and you know

00:42:12

you're just like for 72 hours after I

00:42:13

have the 72 hour rule now when you know

00:42:15

something blows up or it's not going

00:42:16

your way you just have to write out that

00:42:18

72 hours because that's when the crazies

00:42:21

are going to come out the people are

00:42:22

going to come for you Etc uh but it was

00:42:25

just yeah like what could have been on

00:42:26

that night in January but yeah we don't

00:42:28

always agree in terms of what like which

00:42:31

direction to go but you just have to

00:42:32

sort of cop it when it doesn't go your

00:42:34

way but we've definitely we've had some

00:42:36

times where we've all agreed and we've

00:42:37

been like right let's pull the trigger

00:42:39

and yeah it's hard to beat that feeling

00:42:41

when you've got 10,000 people involved

00:42:44

and they are screaming home the same

00:42:46

horse and there's we have 850 people

00:42:49

that come along to the event now and

00:42:50

they're all chanting and you know going

00:42:52

for the horse and now the jockeys are

00:42:54

saying like holy [ __ ] I could hear those

00:42:56

boys hear them from the other side of

00:42:58

the racetrack and you know the horse

00:43:00

salutes and everyone's just like having

00:43:03

such a good time it's pretty I guess it'

00:43:04

probably be like a performer um

00:43:07

performing and then just seeing everyone

00:43:09

like so happy in that moment and go like

00:43:11

great like' we've done our job well the

00:43:13

whole thing is what um racing is all

00:43:15

about I think it's like you have a bunch

00:43:16

of people there having a really good

00:43:17

time enjoying themselves and also the

00:43:19

flip side of that which is also part of

00:43:21

racing is it's not an investment no no

00:43:24

even even with as much you can put as

00:43:26

much thought into it as what you want

00:43:28

but there's no guarantees you're going

00:43:29

to come out on top no 100% like it

00:43:32

started raining in January on the race

00:43:33

day and it was the first time that we

00:43:36

raced at that track and whatnot with

00:43:38

with that level of rain like how does

00:43:39

that impact and there's so many

00:43:41

variables that can change and you know

00:43:42

there one year where a horse it shied

00:43:45

away at a sign it was leading and it saw

00:43:46

a sign on the ground and like oh just

00:43:48

like veered away at that and then bang

00:43:50

horse goes straight past it's like oh

00:43:51

it's 80 grand like [ __ ] uh what there a

00:43:55

year we like a horse the saddle pinched

00:43:58

the horse and so like it didn't want to

00:43:59

run it's like oh what's going on here so

00:44:01

then you stop and so that horse is out

00:44:03

of the race um there's just like you

00:44:04

name it it can go wrong and it does

00:44:06

especially if you do it and that's why I

00:44:07

think a lot of people who Gamble and

00:44:09

realistic about gambling they will tell

00:44:10

you up front like the house will always

00:44:12

win because there's too many variables

00:44:14

that you won't get right and you know we

00:44:16

all love to think that we could go

00:44:18

online now to the online pokies for

00:44:20

instance and we've all got a mate who's

00:44:22

won a grand or 10,000 or something and

00:44:24

think why can't that be us and you might

00:44:26

go well on that first time but the

00:44:28

longer you do it the math of it is that

00:44:31

they will take the cash off of you same

00:44:33

with Lotto like Sky City tab Etc they

00:44:37

have profitable institutes that are

00:44:39

built to beat you yeah what's the um

00:44:42

what's your your um biggest or most

00:44:44

memorable wins with bgp um it's you

00:44:48

start to like forget what all the the

00:44:50

numbers are but uh we had a week down in

00:44:52

cup week which is where we did it for

00:44:54

basically entire week from a Tuesday

00:44:56

through to a Saturday and that was

00:44:58

probably when you might have seen some

00:44:59

media attention because the hero were

00:45:01

picking it up in NZ um uh sorry ZB sorry

00:45:05

and just people going like what the hell

00:45:06

is going down on down there because we

00:45:08

had you know like $30,000 on a Greyhound

00:45:10

that won and um we were bit Bing to Bing

00:45:13

to win a million dollars and the racers

00:45:15

got called off that day and they raced

00:45:16

them so then the The Syndicate had to

00:45:18

stop because that was the teas and C's

00:45:20

then they race them on the Monday both

00:45:22

of those horses won so we would have won

00:45:23

the million bucks and it's like what the

00:45:25

hell the T have raled us they knew we

00:45:27

were going to win so there's all this

00:45:29

stuff and you just have to like play the

00:45:30

story out with it but yeah we've had

00:45:32

some pretty big collects in the hundreds

00:45:34

of thousands and whatnot we're still

00:45:36

looking for that million dollar collect

00:45:38

uh at some stage but you reckon it'll

00:45:40

come yeah yeah for sure we got we got

00:45:43

unfinished business and do you have do

00:45:45

you have a favorite boys get paid

00:45:47

story um what would be my I think the

00:45:51

like seeing the growth of the cuz for me

00:45:53

in what I haven't touched on is that

00:45:54

it's not just about the gambling it's

00:45:56

actually about the community so

00:45:57

basically that Facebook group became a

00:45:59

community and people were you know on

00:46:01

that first race there people have ended

00:46:03

up like living with each other um and

00:46:05

like moving around the country and going

00:46:07

well now I know someone cuz I came to

00:46:08

that deine tour they were in the

00:46:09

Facebook group and there's that

00:46:10

commonality and so that's taught me a

00:46:12

lot and I think it's really important in

00:46:14

this day and age of community and you

00:46:16

you see the big corporates talking about

00:46:17

oh we're building community and that's

00:46:19

one of our values it's like [ __ ] you got

00:46:20

no idea what that is you you're just you

00:46:22

know that that's fashionable and we need

00:46:24

more of it in society um so when I see

00:46:27

people linking up together and hanging

00:46:29

out and going and doing things and like

00:46:31

that's the thing that's brought them

00:46:32

together bgp or boys get paid that's way

00:46:35

more valuable and that's actually what

00:46:36

it's about rather than the just the the

00:46:38

big bing syndicates and I think it's

00:46:39

sort of like the Bing syndicates might

00:46:42

bring people's attention to it but if

00:46:43

they then end up in it or enjoying it

00:46:45

then they've got something that they can

00:46:46

be a part of and if they're helping each

00:46:48

other out as a part of that um then

00:46:50

that's awesome but when we you know meet

00:46:52

in Ellis in January and we have 850

00:46:55

people come along and we can sell the

00:46:56

room out and everybody is you know like

00:46:59

there for the same thing and just

00:47:00

absolutely loving it it's pretty cool to

00:47:02

walk around the room and just see people

00:47:03

of all ages enjoying the sport that you

00:47:06

know their grandparents liked or that

00:47:08

they liked and they're like great some

00:47:09

younger people are here again so that's

00:47:11

I guess what you know fills me up from

00:47:13

it yeah and it must be incredibly

00:47:15

gratifying for you that this is

00:47:16

something that you built from scratch

00:47:17

and also I suppose in terms of

00:47:19

transferable skills like what you

00:47:21

learned there um by accident initially

00:47:24

but then you by designers that went on

00:47:25

probably helped you in building a

00:47:26

Community again with keep the change

00:47:28

spot on yeah yeah yeah what about um

00:47:31

what about the haters and and carens

00:47:33

like I'm guessing there's been a lot

00:47:34

with um the name sexist misogynistic y

00:47:39

uh non-inclusive yeah yeah yeah which is

00:47:42

quite funny because actually we have

00:47:43

like quite a lot of older uh women come

00:47:46

along to events now and the the audience

00:47:48

is almost skewed to people who have seen

00:47:51

it that are a bit older and like we love

00:47:52

racing can we come I'm like yeah okay go

00:47:54

for it and then there's like 70y old

00:47:56

people there and stuff that was the best

00:47:57

day of my life uh but we don't get heaps

00:47:59

of the the anti boys get paid thing

00:48:01

anymore around the name a little bit if

00:48:03

it's the first thing that they know

00:48:05

about it they're like oh so like what so

00:48:06

the girls can't get paid and it's just

00:48:08

you just you learn how to combat that

00:48:09

stuff as I'm sure you're you've had to

00:48:11

do throughout your career as well so

00:48:13

some some days you feel like a fight oh

00:48:15

you you do like 100% And I yeah I

00:48:17

struggle with that CU I think part of my

00:48:19

natural thing is to like you know dig my

00:48:21

heels and fight um but I've gotten

00:48:23

better at picking my battles but well I

00:48:25

mean it's like it's like look you know

00:48:28

you and I can go and buy a Woman's Day

00:48:29

magazine if we want doesn't matter yeah

00:48:33

just a name yeah exactly and then so

00:48:35

that's where the name came from was

00:48:36

actually we would go to the races with

00:48:37

back a winner and like high five and the

00:48:39

boys get paid it was a s so then we

00:48:41

called it boys get paid which was like

00:48:43

the the boys get paid cuz we're back to

00:48:44

winner high five and but then you know

00:48:46

people have to say like oh well you know

00:48:49

that's and then change the logo change

00:48:50

the name all the stuff and it's always

00:48:52

the people that don't do much in their

00:48:53

life telling you what you should be

00:48:54

doing you kind of think well but when

00:48:56

you start hear in it from people who you

00:48:58

know have credibility Authority or have

00:48:59

built things s of go okay what are they

00:49:01

trying to teach me here but people will

00:49:04

always have a crack at you whatever

00:49:05

you're doing someone was complaining of

00:49:07

the DMS yesterday about bgp about how um

00:49:10

you know stop putting these tips up they

00:49:12

crap they don't always win and we're

00:49:13

like yeah like no [ __ ] that's like how

00:49:15

have you just figured this out you know

00:49:17

but that one that did win you know some

00:49:18

people backed it and they were stoked

00:49:20

about it and they're happy like let

00:49:21

people do their thing man like get out

00:49:23

of the way yeah yeah yeah it's annoying

00:49:25

hey um yes so yeah speaking of other

00:49:29

names that um that you may have to look

00:49:30

at read changing down the track even

00:49:32

keep the change like 15 years from now

00:49:34

people are going to be like what does it

00:49:35

mean keep the change yeah yeah and so

00:49:38

actually where that name came from is

00:49:39

that so when I was building the pus club

00:49:42

for bgp I would go to this Cafe it was

00:49:43

across from the Les Mills I think it's

00:49:46

called CH bro now so shout out to them

00:49:47

but it wasn't that and it was run by a

00:49:49

really good lad and I'd go in there and

00:49:50

I'd have breakfast and I would get

00:49:52

salmon and eggs on toast and it was $19

00:49:56

I'd have a $20 note and I'd say I'll

00:49:59

keep the change and I was trying to

00:50:00

teach myself that I didn't need that

00:50:01

dollar that I could go out and make a

00:50:03

dollar somewhere else or that I needed

00:50:05

to swap from being scarce of like you

00:50:07

got to pick up every 10cent coin you can

00:50:09

find and and all of that to like no I

00:50:11

was trying to teach myself to think

00:50:12

bigger and so that's actually where the

00:50:14

name came from because I was saying keep

00:50:16

the change but that same Cafe as we ride

00:50:18

often okay did they pay the $100 into

00:50:20

the pus Club yes uh but yeah that then

00:50:24

lent itself into the the keep the change

00:50:26

side of thing with that name but also

00:50:28

now it sort of has a second meaning of

00:50:29

once you get that change like keep it

00:50:32

because it's so easy to start doing well

00:50:33

with money for instance and then go

00:50:35

right now I'm going to blow it or I'm

00:50:36

going to sabotage myself or I'm going to

00:50:38

go back to my old habits and do [ __ ]

00:50:40

that I know I deep down shouldn't be

00:50:41

doing yeah yeah yeah okay let's

00:50:44

transition into that stuff now so next

00:50:46

advisory so that's your chared

00:50:48

accountancy business yes yeah so it's

00:50:51

you and Phil you're my business partner

00:50:53

and again so before ni advisor we had

00:50:56

school rebates and this is where all

00:50:57

these things overlap and I can guess

00:50:59

it's a good lesson for people that you

00:51:00

start and then the more you do then you

00:51:03

will learn things and you take lessons

00:51:05

from one Venture into the next so we had

00:51:08

a business called School rebates and it

00:51:09

was designed to help parents claim back

00:51:10

their school donations but we needed a

00:51:12

way to refund people so when we refunded

00:51:14

people for the pus club for instance I

00:51:15

could refund some of those people who

00:51:17

had given me the correct Bank details

00:51:19

via the school rebates process that

00:51:21

allowed us to refund hundreds of people

00:51:22

at a time uh but we could see that

00:51:25

school rebates wasn't going to work

00:51:27

because basically the IID told us they

00:51:30

were going to build a way for people to

00:51:32

be able to claim their own donations in

00:51:33

the background so we were manually

00:51:35

excuse me processing all of these

00:51:37

donations and now um they've got more

00:51:40

money more technology and so people

00:51:42

should just be able to go and upload

00:51:43

their receipt for Their donation and get

00:51:44

a third of that back but a lot of

00:51:46

parents weren't doing that so we knew

00:51:48

that that was that got us going but it

00:51:50

wasn't going to be our thing and so my

00:51:52

business partner left his job as well we

00:51:54

both worked together at the same firm

00:51:56

and we built next advisory from scratch

00:51:58

and so I'd seen the what was starting to

00:52:00

happen with with um boys get paid and

00:52:03

schore rebates and I'm saying to my

00:52:05

business partner like mate we just need

00:52:06

to do some social media ads get going on

00:52:08

there's not many accountants that do

00:52:09

social media we'll we'll build this

00:52:11

thing up quick man let's roll um but it

00:52:14

takes a lot longer so that's basically

00:52:16

how it started no office nothing couple

00:52:18

of laptops no no clients and just start

00:52:22

from ground up and so yeah that's what

00:52:24

we've done we're uh [ __ ] what are we

00:52:25

August yeah eight8 years old next next

00:52:28

year and how many clients uh just over

00:52:30

100 yeah so it doesn't sound like a lot

00:52:32

and it's not compared to traditional

00:52:34

accounting firm but you know I'm pretty

00:52:36

open with numbers turn over close to 1.3

00:52:39

well just over 1.3 million bucks a year

00:52:41

so only 15% of businesses in New Zealand

00:52:43

do sales over um a million dollars and

00:52:47

the the costs aren't massive so you can

00:52:49

draw pretty decent salary from that but

00:52:51

the the I guess the thing I'm proud of

00:52:53

is that we built that from scratch like

00:52:55

nothing and now we have you know

00:52:57

audiences we have workshops we can run

00:53:00

people will pay to come to those we have

00:53:01

clients who pay every month clients who

00:53:03

don't even use us for accounting but use

00:53:04

us for oneoff advice and things like

00:53:06

that so the snowball is you know really

00:53:08

rolling now and we can be very picky and

00:53:11

choosy about what we say used to yeah

00:53:13

well this must be something that's quite

00:53:14

gratifying so all these um things that

00:53:16

we've we've talked about we haven't

00:53:17

really talked about keep the change yet

00:53:18

but we will but next advisory and boys

00:53:20

get paid they're all like communities or

00:53:23

things or whatever you want to call them

00:53:24

that you've built from scratch yeah

00:53:26

which is cool yeah M it is it's it's it

00:53:28

makes you feel so powerful uh because it

00:53:31

you realize what you're capable of and

00:53:33

so I gu going back to that story of the

00:53:35

suicide you know you you you have a seed

00:53:38

planted in your head of okay maybe I can

00:53:39

handle these things and if I think about

00:53:41

like the things I juggle now with like

00:53:43

effectively multiple businesses uh

00:53:45

people want to be paid by those I've

00:53:46

have tens of contractors staff built an

00:53:49

app for boys get paid uh with you know

00:53:52

the audience for keep the change 50,000

00:53:54

Instagram followers uh I know you know

00:53:56

giving away $500 a month on to keep the

00:53:58

change at the moment to people who will

00:53:59

share the podcast onto their story

00:54:01

because the feedback I'm getting is you

00:54:03

know that I found this through my mate

00:54:05

and they said listen to this and so I'm

00:54:07

like okay well I should probably

00:54:08

incentivize people to share this and

00:54:10

then more of the mates are going to see

00:54:11

it start listening it will help their

00:54:13

life and I can get closer to my goal you

00:54:15

know in my you know a lot of people like

00:54:17

500 bucks that's a lot of money to them

00:54:19

I'm like well I'm going to give it away

00:54:20

I'm going to financially incentivize

00:54:22

this I've got to then go back out there

00:54:23

and make it so you you you start doing

00:54:25

life completely differently because you

00:54:27

actually start to realize what you're

00:54:29

capable of building and doing and going

00:54:31

back to what we're talking about at the

00:54:32

start of adding value the way I now said

00:54:34

is okay I can let go of that

00:54:36

$500 and much like I let go of the

00:54:38

dollar at the cafe and see keep the

00:54:40

change I can let go of that $500 and

00:54:42

that's okay because I know that it will

00:54:44

come back to me it might not come back

00:54:45

to me next month might not come back

00:54:47

next year but it will come back in some

00:54:50

way shape or form and a lot of the work

00:54:52

that we now have in next advisory is

00:54:55

actually from keep the change so that

00:54:57

audience who have businesses or their

00:54:59

friends who have businesses those people

00:55:01

are reaching out saying hey can we use

00:55:02

you for our accounting so it's almost

00:55:04

like we've built a moat around next

00:55:06

advisory through keep the change and

00:55:08

going back to something earlier um

00:55:11

helping people and a bigger problem so I

00:55:14

could see that if we could help everyday

00:55:17

people with financial literacy then I I

00:55:19

keep the change the Good Karma would

00:55:21

come back around into my life and it's

00:55:23

now coming through next advisory so so

00:55:26

so who who are your your clients are

00:55:28

they small business owners mainly yeah

00:55:29

smaller businesses and they might be in

00:55:31

their start of their Journey so you know

00:55:32

two or 3 years in um and they are like I

00:55:36

don't really I still don't understand

00:55:37

this I need your help you know where are

00:55:38

my opportunities this is my ceiling how

00:55:41

do I break through that but we've got

00:55:42

clients that are turning over tens of

00:55:44

millions of dollars as well most of them

00:55:46

are you know like I said before 15% of

00:55:48

businesses in New Zealand turn over less

00:55:50

than a million dollars so I think

00:55:51

everyone in the accounting and whatnot

00:55:52

walks around saying oh yeah all my

00:55:54

clients turn over heaps of money it's

00:55:55

just [ __ ] because we don't have the

00:55:57

data to suggest that that's true and we

00:55:58

see this people come to work for us or

00:56:00

say apply for a job and they say all my

00:56:03

clients turning over $2 million to $5

00:56:04

million so well that's just you're lying

00:56:06

because the the country doesn't even

00:56:08

have those businesses or that many of

00:56:10

them but yeah a lot of smaller

00:56:12

businesses doing cool [ __ ] and just on

00:56:13

the way up and aspirational people yeah

00:56:16

because you you you are quite um

00:56:18

aspirational and you know you're quite

00:56:20

you're quite motivated and driven so is

00:56:21

it mainly sort of like account

00:56:22

accountancy advice or are you are you

00:56:25

you know helping them with sort of goal

00:56:26

setting or bigger picture stuff or what

00:56:28

yeah a lot of bigger picture stuff so

00:56:29

basically you're here you want to get to

00:56:31

hear how are we going to do that what

00:56:33

are the steps let's understand the

00:56:34

financial side of it first um a lot of

00:56:37

work at the moment through the economic

00:56:38

downturn has actually basically been

00:56:41

something doesn't feel right can you

00:56:42

help me understand it so they might have

00:56:44

an accounting software they know how to

00:56:45

reconcile everything and do that side of

00:56:47

it and make sure that they're doing what

00:56:48

they need to do but they don't need to

00:56:50

know how to read a profit and loss which

00:56:52

is kind of like an x-ray you know for a

00:56:54

business of we can read those as

00:56:55

accountants go like oh [ __ ] here's

00:56:57

what's happened here's what's changed

00:56:59

this is what it's showing us and so you

00:57:00

sort of become a doctor and you're

00:57:02

diagnosing what the problem is and they

00:57:03

might think the problem or the solution

00:57:05

is different to actually what they need

00:57:07

to fix so there's a lot of like one-off

00:57:10

Project work and that's where again you

00:57:12

can add more value so if you can help

00:57:15

someone solve a problem then you can

00:57:17

charge more for that as well rather than

00:57:19

just you know uh a smaller fee and any

00:57:22

um like major client success stories

00:57:24

that spring to mind I'm pretty proud of

00:57:27

like a lot of our clients actually

00:57:28

because there's a lot of them that are

00:57:29

doing cool stuff I mean some some

00:57:31

household names that people may be

00:57:32

familiar with that we've dealt with over

00:57:34

the years um Edwards and Co for those

00:57:36

people who have got parents feel my

00:57:38

business partner works pretty closely

00:57:39

with them and girls get off as well if

00:57:42

you come across

00:57:44

them the six toys they start didn't they

00:57:46

start during the pandemic

00:57:48

or so you know what about boys getting

00:57:51

off 100% man yeah we're not allowed

00:57:54

to um so you know there's there's it's

00:57:58

always interesting like what people are

00:57:59

doing but it's it's cool to see um you

00:58:02

know family units have a crack at things

00:58:04

for husband and wives for instance and

00:58:05

get into business together and maintain

00:58:07

those relationships and change the

00:58:09

trajectory of their life um but yeah

00:58:12

there's uh we've got a very broad base

00:58:14

of clients doing some really cool stuff

00:58:16

oh that's cool what advice would you

00:58:17

have for small business owners anyone

00:58:18

that's listening to this that maybe is

00:58:20

just hearing about next advisory for the

00:58:22

first time so understand your numbers

00:58:24

and actually I know it sucks I it's

00:58:26

boring you don't want to but the more

00:58:28

you can do that you'll realize you have

00:58:30

an unfair advantage against your

00:58:31

competition because they won't do it and

00:58:33

I see this all the time where people

00:58:35

instead of actually understanding what

00:58:36

they've got going on in their business

00:58:37

and what opportunities they have and

00:58:39

what they could be doing to to grow it

00:58:41

um they will focus on their competitors

00:58:43

and what are they doing or maybe we need

00:58:44

to do that oh they've started a podcast

00:58:46

we better do one as well and and not

00:58:48

actually like understanding that

00:58:49

business could be about to go broke they

00:58:51

might owe the IID $800,000 and you had

00:58:53

no idea so I think what happen is we uh

00:58:57

as people and business owners often

00:58:58

don't have a plan or know what we want

00:59:00

to achieve and so then we are just out

00:59:03

there doing heaps of random [ __ ] because

00:59:05

somebody else is rather than is this

00:59:07

actually going to get me closer to my

00:59:09

goal so I to sum it up like know where

00:59:11

you're going and have a goal understand

00:59:13

the finances and learn that take a year

00:59:15

to listen to podcast to look at YouTube

00:59:17

tutorials to spend some money to

00:59:19

understand how to read it ask your

00:59:20

accountants all your questions just send

00:59:22

it to them and say help me understand

00:59:24

this um and then actually figure out

00:59:26

what levers you can pull in your

00:59:28

business to get you closer to your goals

00:59:30

do do you ever switch off good question

00:59:32

I'm going to FG on Saturday so I'm

00:59:34

pretty wi at the moment oh I've heard

00:59:36

you in another couple of podcasts it

00:59:37

seems like Fiji is your um like

00:59:39

brainstorming your Blue Sky Thinking

00:59:41

Place well my partner she's threatening

00:59:43

me that we that I'm not allowed my phone

00:59:45

and devices and [ __ ] in Fiji so at the

00:59:46

start of this year I said right every

00:59:48

quarter I'm going to take a week off and

00:59:49

I'm going to go somewhere and it's now

00:59:51

August and I haven't had a break and

00:59:52

racing season's about to kick off again

00:59:54

so it'll be lot of my weekends and what

00:59:56

not but you don't you know it's not hard

00:59:58

when you enjoy it as well I was going to

01:00:00

say that same thing like there's um

01:00:02

there's a lot of um I don't know if it's

01:00:03

a a buzz phrase but there's a lot of

01:00:05

emphasis put on um like work life

01:00:06

balance but if you love what you're

01:00:08

doing you want to do it every moment of

01:00:10

the day right oh for sure you know like

01:00:13

sometimes tar my partner will have to

01:00:14

say you know I could feel that she's

01:00:16

getting pissed off that I'm spending too

01:00:17

much time on my computer or whatnot but

01:00:18

it might be 8:00 at night and I'm just

01:00:20

like I want to finish this money mail

01:00:22

for Friday or write this or do that or

01:00:24

and it's almost the opposite you have to

01:00:25

be dragged away from your work because

01:00:27

you like it and so you know I I know

01:00:30

that I'll relax next week in fij but

01:00:32

equally I've taken a blank pad and I'll

01:00:35

take a pen and I will come back with

01:00:37

like 6,000 ideas and different things

01:00:39

and I'll weed through what do I actually

01:00:40

need to focus on and come back with a

01:00:42

new form of energy and just blow it up

01:00:45

oh how good that's so cool how how long

01:00:47

have you and your partner been together

01:00:49

uh gee it's 5 years this year is that

01:00:51

right yeah pretty sure there's a

01:00:53

question coming up from Instagram um

01:00:56

directed towards you but this person

01:00:57

just asking about um prenups and

01:00:59

property agreements we'll get okay yeah

01:01:02

was this something that you um

01:01:04

discussion you had early on yeah yeah

01:01:06

yeah really yes so you had your own

01:01:08

house or she had her own house or yeah

01:01:09

we had very different Financial um lives

01:01:12

before we met and so you know she had

01:01:14

property I don't I'm building a business

01:01:17

and I basically had a conversation

01:01:19

around hey if I die before we have kids

01:01:22

are you happy if I can leave my stuff to

01:01:24

my family because I think you're going

01:01:26

to be okay if I die but I would like to

01:01:28

provide for my sister and her child Etc

01:01:32

and can we write that down into an

01:01:33

agreement and we can bend the agreement

01:01:35

once we have kids and get married Etc

01:01:37

and she's like yeah sweet so we did that

01:01:41

you make it sound really straightforward

01:01:42

it's an awkward conversation for a lot

01:01:44

of people it is yeah definitely is and I

01:01:46

think you know I should say that you've

01:01:48

got to you got to you know understand

01:01:50

how to have that conversation and know

01:01:52

where you're at but equally like you

01:01:53

know this is pretty [ __ ] bizarre but

01:01:55

I sat down with my partner very early

01:01:57

arm of tar and we went for brecky and I

01:01:59

said to her hey look I got some pretty

01:02:01

big goals some pretty big aspirations I

01:02:03

don't know what life has in store for me

01:02:05

but I could be the Prime Minister like I

01:02:08

don't know like maybe that's what the

01:02:09

country needs for me at some stage I

01:02:10

might need to go to Dubai and work over

01:02:12

there I don't know but I promise you

01:02:15

this is going to get weird so if you

01:02:16

want to get off the bus if you want to

01:02:19

get off the bus like I'm not I won't be

01:02:21

offended and you know she's crying in

01:02:23

the Mano been like [ __ ] I have I am

01:02:25

dating a freak Show you know I know

01:02:26

people will hear that and be like oh I

01:02:28

knew it he's a narcissist or whatever

01:02:29

you can label me and do all that [ __ ]

01:02:31

but I just trying to tell her that I can

01:02:33

see that there's stuff going to happen

01:02:35

in my life and if that's not for her I

01:02:37

don't want her to figure that out when

01:02:39

I'm 8 weeks deep into Dubai and she's

01:02:41

pissed off because the kids are you know

01:02:43

being grumpy and I haven't been able to

01:02:45

be on FaceTime or who knows right so

01:02:47

just trying to like put it out there

01:02:48

early of you know we're going to have a

01:02:50

pretty crazy life do do you want to do

01:02:52

this together um if not I'm I'm I'm fine

01:02:55

if you want to leave the table and I'll

01:02:57

yeah get the bill or you can get the

01:02:58

bill that'd be great some people men or

01:03:00

men or women would find that really

01:03:02

incredibly attractive um and Incredibly

01:03:04

attractive quality in mate someone

01:03:05

that's like really driven and focused

01:03:07

and passionate about what they do but on

01:03:09

I suppose on the flip side there's also

01:03:10

people that you know that that would be

01:03:13

um terrified by that are you

01:03:15

narcissistic I don't even really know

01:03:17

what that

01:03:19

means yeah probably is yeah I mean I

01:03:22

think I'm capable of a lot um and so I'm

01:03:25

trying to scratch that it to find out

01:03:26

what that is uh I think I balanced that

01:03:28

out by helping people I want the best

01:03:30

for a lot of people I want to see other

01:03:31

people have more on their life and

01:03:33

understand that you know Society will

01:03:35

try and just keep you mediocre and

01:03:37

whatnot but you're actually probably

01:03:39

sitting on projects or ideas or dreams

01:03:41

or goals or relationships that are

01:03:44

possible for you but no one's telling

01:03:46

you that it's all just like oh no you

01:03:48

know don't I can you don't need to do

01:03:50

that who do you think you are why you

01:03:51

doing that oh do you really need that

01:03:53

much Etc but yeah it's just I just think

01:03:56

it'd be great if more people were doing

01:03:58

cool [ __ ] that was keeping them happy

01:04:00

and yeah I I haven't really been called

01:04:02

a narcissist for I can't remember who

01:04:05

who's called me that but I'm sure people

01:04:06

probably think like that well people can

01:04:09

have this people can have an opinion

01:04:12

regardless though aren't they yeah they

01:04:13

might blow the YouTube comments out good

01:04:15

it's good for my

01:04:16

algorithms um I also let's talk about

01:04:19

our keep the change then so um I went

01:04:23

all the way back e listen to the the

01:04:24

early episodes you've been so consistent

01:04:26

with the content so you do how many

01:04:27

episodes per week well so just for yeah

01:04:30

I started writing a money mail which was

01:04:31

a written version I did that for a year

01:04:33

and did it as a Blog but I knew through

01:04:34

bgp next advisory other projects well

01:04:37

this needs to be a podcast because

01:04:38

that's the platform right and so then I

01:04:40

had to go back a whole year and batch

01:04:42

read out 52 podcasts to catch myself

01:04:44

back up so then I have a Monday written

01:04:47

newsletter that goes out that I turn

01:04:49

into a audio podcasts and talk a bit

01:04:51

more [ __ ] on that and now I interview

01:04:53

someone and release a new one of those

01:04:54

each week and then we a throwback

01:04:56

episode at the start of the week back to

01:04:59

an older episode cuz it's over four

01:05:01

years now and then every now and then

01:05:04

like last night I did a podcast with

01:05:05

Mikey just about interest rates changing

01:05:07

for instance and basically that doesn't

01:05:08

get edited and just straight out yeah I

01:05:11

mean the the body of content you put out

01:05:13

is is impressive and um one thing I

01:05:16

really love about the the podcast

01:05:17

platform is like us to I could go back

01:05:19

to the oldest episode and and listen to

01:05:21

it and so you can see the growth and the

01:05:23

Improvement and that like anything that

01:05:26

just comes with that if you start

01:05:27

something you're going to be [ __ ] at it

01:05:29

and if you stick with it you're going to

01:05:30

get better yeah um so it's been really

01:05:32

cool following the journey and you and I

01:05:33

have got the same um podcast sponsor at

01:05:35

the moment generate K Over which is so

01:05:37

cool they're so Innovative yeah awesome

01:05:40

so what I like about generate is that

01:05:43

when I met with them basically they were

01:05:45

like what can we do to help you now if

01:05:48

you ever have someone in your life that

01:05:49

says that to you that should be a light

01:05:52

bulb of holy [ __ ] because most people

01:05:54

come to you and and they say what can

01:05:56

you do for me and that's what they're

01:05:58

focused on and I I've probably got three

01:06:01

or four people in my life since going on

01:06:03

my journey where they've said to me how

01:06:05

can we help you get closer to your goals

01:06:07

what can we do to help you what support

01:06:09

do you need from us and those people

01:06:12

like they will unlock so many levels to

01:06:14

your life and I've had it across keep

01:06:16

the change now bgp uh next advisory and

01:06:19

just personally where there's not many

01:06:22

of those people so if they present

01:06:23

themselves in your life you know that

01:06:25

they probably think a lot different to a

01:06:27

lot of people because I'll get three a

01:06:30

week where people are approaching me

01:06:31

like this is what we want from you but

01:06:32

they'll proposition it to you as like oh

01:06:34

we should catch up for a mutual

01:06:36

relationship and I thought you know we

01:06:38

could catch up what are we going to

01:06:39

catch up about oh you could give us some

01:06:40

of your next advisory clients oh sounds

01:06:42

really mut okay you know what I mean

01:06:44

yeah have them all yeah yeah yeah here's

01:06:46

the database yeah that's cool now I

01:06:48

found them um super supportive and uh I

01:06:51

I'll go out of my way to um you know

01:06:53

like promote them as much as what I can

01:06:55

just because of The Innovation because

01:06:56

they they approached me about podcast

01:06:58

sponsorship at a time when I was really

01:07:00

battling to get sponsors on board um uh

01:07:04

so it was very Innovative it doesn't I

01:07:05

mean from where we're sitting now it

01:07:06

doesn't seem as Innovative as what it

01:07:08

was 12 months 18 months ago but um it

01:07:10

still is now like there's still people

01:07:11

that don't see the value on it well cash

01:07:13

just gives you a resource right and so

01:07:15

then you can do cooler stuff you can you

01:07:17

know so some of the sponsorship money

01:07:19

from for me for instance it's just

01:07:20

unlocked then right let's get this

01:07:22

content in front of more people because

01:07:23

then that gets me closer to the goal of

01:07:24

helping 100 people so it unlocks editors

01:07:27

it unlocks a studio it unlocks short

01:07:29

form content it unlocks YouTube but if I

01:07:33

don't build that partnership and have

01:07:34

that sponsorship it has to come out of

01:07:36

my pocket so it's an investment from

01:07:37

Luke into his business to then hope that

01:07:40

it comes back in return at some stage so

01:07:42

you know Partnerships I think are

01:07:44

amazing and we get talked out of them

01:07:45

and stay away from them because they are

01:07:47

scary a lot of Partnerships don't work

01:07:48

and and we see that through people

01:07:50

divorcing but we also see it through

01:07:51

business failures and whatnot but if you

01:07:53

can find out what someone else is trying

01:07:55

to achieve

01:07:56

and then your goals line up similar to

01:07:58

theirs and help them get closer to those

01:08:01

then that's normally a good partnership

01:08:02

and that's actually how we look at our

01:08:05

clients at next advisory so our number

01:08:07

one value is winning which basically

01:08:08

means if our clients are winning and

01:08:10

we're helping them win then we're going

01:08:11

to win because they're going to see us

01:08:13

as the people who open and do it and you

01:08:15

know we'll let some people down and

01:08:16

whatnot but part of that comes back to

01:08:18

the clients we take on we have to

01:08:20

understand where are you trying to go

01:08:21

cuz if I can understand where they're

01:08:22

trying to go then I'm like oh I know

01:08:24

call this person they can help you and

01:08:26

then bang they've got an instant win I

01:08:28

think holy [ __ ] you know that was one

01:08:30

phone call and he's linked me up with

01:08:31

the right person where does the um the

01:08:34

energy come from to keep doing something

01:08:35

like the podcast when you you know you

01:08:37

because you launch a podcast and you're

01:08:39

monetizing it now but it's um it takes a

01:08:41

while to get to that point with any any

01:08:43

podcast like why why don't you give up

01:08:45

on keep the change and think [ __ ] I'll

01:08:46

just focus all my time and resources

01:08:48

into um next advisory yeah yeah it's a

01:08:50

good uh it's a good question I think a

01:08:52

couple parts to it one like I like

01:08:55

building something and so I am enjoying

01:08:58

the process of building that to see what

01:09:00

it can be I've got like a little bit of

01:09:02

that killer attitude so I'm sort of

01:09:03

enjoying now that the podcasting has

01:09:05

become like the thing and I can't wait

01:09:07

to like gas out or like keep going past

01:09:10

some of what other people will do and

01:09:11

then go right like we're still here they

01:09:14

they came and went told you you should

01:09:15

have keep going uh a little bit of that

01:09:17

but ultimately it's driven by the

01:09:19

messages that I get from people saying

01:09:20

holy [ __ ] you know I heard that for the

01:09:22

sixth time and the way you explained it

01:09:24

that time helped me and I've gone away

01:09:26

and done X Y and Z so I've just found

01:09:29

something that I like and I find it easy

01:09:31

to create content around this because

01:09:32

I'm I'm thinking about it every day and

01:09:35

I am dealing with clients around it so I

01:09:37

then find it easy to tell stories so it

01:09:39

then doesn't require as much energy to

01:09:41

you know say come up with an idea as

01:09:43

such yeah and what are your future goals

01:09:45

for keep the changing just sort of slow

01:09:47

and steady and and more of the same and

01:09:49

see how it goes you know I've got my

01:09:50

first event in person in September so

01:09:52

we've got U that you sold out like 50

01:09:55

people yeah yeah at Ellis yeah awesome

01:09:58

so that'll be interesting like maybe

01:10:00

like is it maybe spark Arena at some

01:10:03

stage calm down B sorry M sorry but do

01:10:07

we get 10,000 people to come and learn

01:10:09

about money and then sort of show to

01:10:10

other people like hey it's okay to come

01:10:11

and do this it's it's all good and yeah

01:10:14

I kind of wonder if I've got a big event

01:10:15

like that in me um or whether that

01:10:17

becomes I talk about it in my mind to

01:10:19

myself like a narcissist um about you

01:10:21

know like a future or future warrant of

01:10:23

Fitness sorry like a finance of Fitness

01:10:25

so basically you know are you getting

01:10:27

ready for the future with your finances

01:10:29

and do that annually write what I need

01:10:31

to be thinking about tidying up and then

01:10:33

like okay you're good to go then you're

01:10:34

back to the podcast for the rest of the

01:10:35

year well thanks for sharing that that

01:10:38

goal because I think the easy thing

01:10:39

would be to um just sit here and say I

01:10:41

don't I don't know even though you have

01:10:44

aspirations of doing spark Arena or

01:10:45

something because you and I there

01:10:47

similar backgrounds both from py boy

01:10:49

High where being called a try hard is

01:10:51

like the biggest insult ever oh yeah um

01:10:53

and then you get to your you become an

01:10:54

adult you realize actually trying hard

01:10:56

as a [ __ ] superpower and if everyone

01:10:58

tried a bit harder you'd realize how far

01:11:00

you can get um but yeah a lot of people

01:11:03

are quite intimidated or even um like

01:11:05

turned off by by people thinking big hey

01:11:08

definitely I think is that tool poppy uh

01:11:10

partly I'd say but also as well I think

01:11:12

we're just scared like we're scared to

01:11:13

think big and also I think we've been

01:11:15

conditioned you know success in New

01:11:16

Zealand well there's an interesting

01:11:18

study come out yesterday of what

01:11:19

generation believes that it's more Merit

01:11:22

to be successful versus you know just

01:11:25

kind of factors that are out of your

01:11:27

control now naturally more baby boomers

01:11:29

were like yeah it's it's Merit based to

01:11:30

be successful and people younger

01:11:33

Generations are saying no you know it's

01:11:34

it's external factors now I 100% will

01:11:38

say I sit in the camp of it comes back

01:11:39

to you so you create your life based off

01:11:42

what you do but yes everyone's

01:11:43

circumstances will be different but the

01:11:45

first question I asked when I looked at

01:11:46

that study or people were talking about

01:11:47

it is what's the definition of success

01:11:50

but no one else had asked that question

01:11:52

it's like well how do you fill out a

01:11:53

survey and say what you know how you can

01:11:56

be successful if it doesn't tell you

01:11:58

what success is but I think

01:11:59

subconsciously in New Zealand success is

01:12:02

being able to afford to buy a property

01:12:04

and so like doing that path and having a

01:12:06

good income and a good property but

01:12:07

imagine if we just you know had 200,000

01:12:10

kiwi people and we said to them like hey

01:12:12

you weren't actually destined for that

01:12:14

you can have your house and [ __ ] later

01:12:15

on but this is actually what life was

01:12:18

meant to be for you and this is the

01:12:20

project you're supposed to be working on

01:12:22

but you've just gone down the wrong CAC

01:12:24

and surrounded yourself with people that

01:12:25

think like that and now you're stuck in

01:12:27

a mortgage and things like that and I

01:12:29

get that that's you know it's very

01:12:30

simple but just a way to think about it

01:12:32

and then show them like this is what

01:12:33

you're supposed to be doing with your

01:12:34

life or could be doing this is what the

01:12:36

country needs from you but like oh holy

01:12:39

[ __ ] okay like I need to change and move

01:12:41

my CAC so I just wonder um part of it is

01:12:45

are we scared because if we Veer away

01:12:47

from the CAC that keeps us safe then our

01:12:50

life does look different and we are then

01:12:52

forced to take different actions yeah

01:12:54

what what is success what do you think I

01:12:56

think it's like just moving closer to to

01:12:58

your own goals and being happy and

01:13:01

basically you know being fulfilled and

01:13:03

and then trying to get a bit more in

01:13:05

control of your day so you're in a

01:13:06

position where you know you can tell the

01:13:08

day what you're going to do with

01:13:10

it yeah yeah so if you if you get to 50

01:13:13

and you're financially secure but you

01:13:15

want to keep working then keep [ __ ]

01:13:16

working um yeah I think a lot yeah a lot

01:13:20

of people they um they probably don't

01:13:21

even know what their their goal is they

01:13:24

they just think it's going to be well I

01:13:25

need to buy a house then I need to like

01:13:27

pay that off as quickly as I can then I

01:13:29

can you have a deep sigh of relief once

01:13:31

that last payment comes through but then

01:13:33

what yeah yeah you get an investment

01:13:35

property mate you got get more the

01:13:37

rental start again the rental yeah start

01:13:39

again then get a second one you know

01:13:40

yeah that's true um uh does money make

01:13:43

you happy uh yes yeah because like it

01:13:48

won't solve it'll solve some of your

01:13:50

problems for you and it'll get you

01:13:52

closer to things cuz everybody

01:13:54

determines happiness differently

01:13:55

themselves right so then I think that

01:13:59

then people if they get money they can

01:14:01

figure out okay can I does it actually

01:14:03

make me happy and everybody's got to

01:14:05

figure that out for themselves but how

01:14:06

many you know Lotto winners do we see

01:14:08

get all that money and then blow it all

01:14:09

and and it doesn't work for them

01:14:11

but I think I think the question is if

01:14:14

people ask it in the way it doesn't make

01:14:16

you happy um which everyone's going to

01:14:18

have a different definition but does it

01:14:19

make your life easier [ __ ] hands down

01:14:21

yes having more of it like there's then

01:14:24

there's also there More Money More

01:14:25

Problems But if you have money and you

01:14:27

can put it towards the things that will

01:14:30

make your life easier then yes easier um

01:14:34

more fulfilling and and happier I I

01:14:36

think it can do that for you yeah I'd

01:14:38

agree yeah I'd agree I'd agree with that

01:14:40

I think if you're happy person anyway it

01:14:42

can you know can enhance your happiness

01:14:44

um it'll magnify what I can't imagine

01:14:47

what it's like to you lie awake at night

01:14:49

and you worry how you're going to you

01:14:50

know pay your power but or yes you know

01:14:53

and a lot of people are doing that right

01:14:54

now yeah yeah so the the amount of

01:14:56

people that are out there that would

01:14:58

think a th000 if someone gave me $1,000

01:15:00

it would just like make my life so much

01:15:01

[ __ ] easier and that's that's um yeah

01:15:04

that's sad well mate I guess if you

01:15:06

think about like this I used to play the

01:15:07

pokies as a young fellow thinking that

01:15:09

if I won that ,000 jackpot like that

01:15:12

[ __ ] that's life-changing now like th000

01:15:16

bucks is it really going to change your

01:15:17

life what are these people doing in here

01:15:19

um B based on the way I now think but I

01:15:22

know why they're in there because

01:15:23

they're thinking how I used to think

01:15:25

and there's probably a, bucks worth of

01:15:26

[ __ ] sitting around their house that

01:15:28

they could go on trade me and sell the

01:15:29

average house has got, 1400 bucks worth

01:15:31

of stuff that they could go and sell and

01:15:33

and and do that but we're in that you

01:15:35

know I was playing Pok with the boys the

01:15:36

other day before going to a Warriors

01:15:38

game CU I'm like a it's a bit of fun

01:15:39

yeah let's have it go it'll be it'll be

01:15:40

good for the excitement if we do win it

01:15:42

together as the three of us but is my

01:15:45

third of it $333 is it going to change

01:15:47

my life like no is this a good use of my

01:15:49

cash no is it a bit of fun and

01:15:51

camaraderie and whatnot yep like am I

01:15:52

willing to lose the cash yes

01:15:55

um but you start playing bigger goals

01:15:57

and you start then not looking at the

01:16:00

the little

01:16:01

amounts if you're if you're gambling and

01:16:04

um you know gambling and you're you're

01:16:07

relying on winning then yeah that's a

01:16:08

terrifying position to be very dangerous

01:16:10

yeah um oh you you've met Gary Vee yes

01:16:13

where did you meet Gary Vee I went to

01:16:14

one of his conferences so very early on

01:16:16

when we weren't actually you know

01:16:18

financially that secure one of my best

01:16:20

mates Ben brought me a ticket to go

01:16:21

along and he got me the experience of um

01:16:24

you know know here you can you can meet

01:16:26

him because when I was starting to build

01:16:28

School rebates I used to do Snapchat

01:16:30

quite a bit and someone sent me a

01:16:31

message and was like you remind me of

01:16:33

the new Zeal and Gary ve and I'm like

01:16:34

who the [ __ ] is Gary ve and so then I

01:16:36

went on YouTube and searched this guy

01:16:37

I'm like holy like who's this bloke and

01:16:39

so then I started listening to his

01:16:41

podcast effectively and the way that he

01:16:43

would talk about things and that was

01:16:45

probably where some of my lessons come

01:16:47

around like give value build the

01:16:48

audience it'll come back to you and man

01:16:51

like it has you know I'm probably like a

01:16:54

product of some of his teachings who

01:16:56

else anyone else on social media that

01:16:58

there there be some people listening to

01:16:59

this or watching this that don't even

01:17:00

know who Gary is Gary vay is super

01:17:03

inspiring you see a a real or a Tik Tok

01:17:06

of them and it's always gold um who else

01:17:09

who else do you recommend everyone

01:17:10

follows immediately uh immediately well

01:17:12

I'll tell you this story so later this

01:17:14

year I'm going to the value tainment

01:17:16

concert now just about every person in

01:17:17

New Zealand that I've told that I'm

01:17:18

going to this it's like what is that and

01:17:20

basically there's a guy called Patrick

01:17:21

bit David in the states and he's got 2

01:17:24

something million followers on YouTube

01:17:26

and he has a conference every year and

01:17:28

tickets are $1,000 GA my mate Mikey who

01:17:30

I do the podcast with the keep the

01:17:31

change he's paying for it he's like

01:17:33

we're going I'm paying just book book

01:17:35

your calendar out th000 bucks GA 10,000

01:17:38

bucks for like a decent seat that's

01:17:39

American dollars you know and they'll

01:17:41

pack this thing out and people like

01:17:43

who's that now the headline speaker is

01:17:46

the rock imagine what the Rock fears

01:17:49

yeah yeah you know and so I'm going to

01:17:51

sitting there going I'm going to come

01:17:52

back from there being like [ __ ] I'm

01:17:54

thinking to small man and like how are

01:17:55

these guys doing it but that will

01:17:56

probably be the inspiration for me to

01:17:58

think okay like what does what does

01:17:59

spark Arena take how many people do we

01:18:01

again there what does it cost to hire

01:18:02

that how do we fund that you know do I

01:18:04

need sponsors for that event for

01:18:06

instance but I'll get some of those

01:18:07

lessons whilst over there so you know

01:18:09

there's heaps of people in everybody's

01:18:11

individual thing that they're interested

01:18:13

in I would just say curate your social

01:18:16

media where the content is adding value

01:18:18

to your life and you know don't you know

01:18:21

going back to my earlier life where I

01:18:23

was struggling because weren't happening

01:18:25

the way I wanted them to happy uh to

01:18:27

happen I was then listening to that

01:18:28

music I was then finding people talk

01:18:31

about why you know why that will happen

01:18:33

and and then I realized like I don't I

01:18:35

don't need to fill my brain with content

01:18:38

that is going to like validate my

01:18:40

decision around like oh yeah life is

01:18:42

tough and you know for a lot of people

01:18:44

it will be you're never going to buy a

01:18:45

home and all of those sorts of things

01:18:46

you have to stop at some stage and be

01:18:48

like [ __ ] it I need to figure out I

01:18:50

don't I don't want that to be the answer

01:18:52

therefore I need to put people into my

01:18:54

brain and ears and eyes that are going

01:18:56

to tell me there's a different way and

01:18:58

then I can figure out for myself if

01:19:00

they're full of [ __ ] uh or whether I'm

01:19:02

just not prepared to do the

01:19:04

work yeah I think yeah I think that's a

01:19:06

good thing social media gets a bad R but

01:19:08

if you [ __ ] with your own algorithm so

01:19:09

you're being fed good stuff constantly

01:19:12

um I think it's a really powerful tool

01:19:14

and I think one one other benefit it'll

01:19:16

be um you just with the international

01:19:18

aspect it allows new zealanders to think

01:19:20

bigger whereas maybe for previous

01:19:22

generations you know we we didn't sort

01:19:24

of have that knowledge

01:19:25

so we had a tendency to think quite

01:19:26

small I don't know yeah well we've got

01:19:28

the internet now and we can go like

01:19:30

we're connected to the world we could be

01:19:32

selling [ __ ] internationally but we

01:19:33

haven't been taught how to do that

01:19:34

you're like a you can't do that here but

01:19:36

I talk about this all the time now I'm

01:19:38

like well imagine if you could buy Dan

01:19:39

Carter's like go kicking course online

01:19:41

and he sold that for 100 bucks us a pop

01:19:43

we turned Dan Carter into an exporter

01:19:45

bang right we Market that to America all

01:19:48

the countries that are playing rugby

01:19:50

sweet you log in here you can watch

01:19:51

tutorials there's a li live Zoom chat

01:19:54

with him every Friday for instance and

01:19:56

all of a sudden Dan Carter becomes a

01:19:58

million dollar export for New Zealand he

01:19:59

collects US Dollars brings it back to

01:20:01

New Zealand pays tax on it here happy

01:20:04

days it's a great idea Dan needs more

01:20:06

money come on Dan yeah stop [ __ ]

01:20:09

clothing and [ __ ] I saw on the Olympics

01:20:11

the other day and like some Louis

01:20:12

Vuitton stand or something it's like

01:20:14

come on well okay let's go then what are

01:20:17

you doing with the Chemist Warehouse you

01:20:19

don't need the Chemist Warehouse deal

01:20:21

but I guess we can take the same concept

01:20:23

and that's where we go I yeah of course

01:20:25

Dan Carter could do that but kiwis are

01:20:28

actually really good at [ __ ] and this is

01:20:30

when we we get taught there we're like

01:20:31

oh we we're represent ourselves well on

01:20:33

the world stage and we punch above our

01:20:34

weight we just need to do the same thing

01:20:36

on the internet like Oh I'm a world

01:20:37

class teacher um great I'm going to do

01:20:39

English teaching online to Chinese

01:20:41

people for instance like all the

01:20:42

platforms are built we just haven't told

01:20:44

kiwis to like go to them and find the

01:20:46

thing that they're valuable at find

01:20:48

their skill set and then go right here's

01:20:50

here's how you do it so I'm trying to

01:20:52

own a bit of that responsibility myself

01:20:53

and find people who are doing that to

01:20:56

then tell their stor so that it plants a

01:20:58

seed for someone to go ah like it's

01:21:00

actually that simple or I could be doing

01:21:02

that

01:21:04

too what do you think it is that that's

01:21:06

holding most people back is it just um

01:21:08

like too hard basket or what do you

01:21:11

think a part of it would just be

01:21:12

education so they just just don't know

01:21:14

that it's possible and then probably

01:21:16

like skeptic skeptical I think kiwi are

01:21:18

quite skeptical so we have to see

01:21:19

someone else doing it first and then

01:21:21

when we see them doing it we're like oh

01:21:23

okay well I could do that and like how

01:21:26

many people have you heard in your life

01:21:27

they say like oh well I could be doing

01:21:29

that but someone wrote a quote on our W

01:21:31

next advisory and it's like the people

01:21:32

who say that are usually the people that

01:21:34

have never done [ __ ] because they're not

01:21:36

actually 100% yeah they're not actually

01:21:38

willing to do it so it's a great you

01:21:40

could do it but will you do it and

01:21:43

you've got to get hungry enough to want

01:21:44

to do it so then you have to have a pain

01:21:46

point in your life you go like no more

01:21:48

and I am going to go do it I am going to

01:21:49

go you know do that for instance or

01:21:51

knock on the neighbor's door uh or you

01:21:53

have to want something enough in your

01:21:55

life that you go right I'm going to take

01:21:56

action and I think the other way to

01:21:58

think about this is and then sorry the

01:22:01

piece of mist is that people be scared

01:22:03

to ask for money it's I'm transacting we

01:22:04

haven't been taught how to sell we hear

01:22:06

in New Zealand sales people are [ __ ]

01:22:08

bad they bad Etc but you know everyone

01:22:10

turns up to a c uh to a job interview

01:22:12

here's my CV and they sell themselves so

01:22:14

that's a lie that selling's bad um but

01:22:17

also have you ever noticed that if if a

01:22:20

kid's raising money for their school

01:22:22

well bloody Sally straight on Facebook

01:22:24

hey buy our hot pies um my daughter's

01:22:26

doing a fundraiser oh we knock on the

01:22:28

door go around do fundraising when it's

01:22:30

our kids no worries happy to sell yeah

01:22:32

take the Cadbury chocolate bars to work

01:22:34

make everyone buy one yeah can you buy a

01:22:36

raffle ticket support my kid oh yeah

01:22:38

okay right I'll get a couple of those

01:22:39

but when it's and so we're raising money

01:22:41

for the schoer for our child but when

01:22:43

it's ourself and go [ __ ] I'm going to

01:22:44

struggle to pay the power bill here or

01:22:46

[ __ ] bit worried about my interest

01:22:47

ratees going up better go knock on the

01:22:49

door and offer to do the babysitting uh

01:22:51

whatever I can to make some money ah I

01:22:53

don't know if I can do that but you do

01:22:55

know how to do it something stopping you

01:22:57

and it's probably your brain because

01:22:59

it's scary what are they going to think

01:23:01

of

01:23:02

me yeah it's funny that but that piece

01:23:05

that you said before about the quote on

01:23:06

your office at work about people saying

01:23:08

oh I could do that they um on the flip

01:23:11

side of that they're exactly the same

01:23:12

people where say you do a show at spark

01:23:14

Arena and it only sells 4,000 tickets

01:23:17

they'll be like I knew he couldn't do it

01:23:19

yeah he couldn't sell it out what a

01:23:20

loser what a loser only 33% fall yeah

01:23:24

yeah yeah oh what a waste of time there

01:23:26

is when you're um like a positive and

01:23:29

driven person does does does that get to

01:23:31

you uh negativity or tall poppy syndrome

01:23:34

or whatever you want to call it you i'

01:23:35

be lying if I said it doesn't because I

01:23:37

just I get gathered for those people

01:23:39

because I kind of think if if you didn't

01:23:40

see the world like that we could you

01:23:41

could have a better life your kids could

01:23:44

uh the Next Generation could your family

01:23:45

could the the country could but if

01:23:48

you've wired yourself to think like that

01:23:51

then that's quite sad for them and I

01:23:53

know that that's like the right answer

01:23:54

but sometimes I just want to be like

01:23:56

[ __ ] man if I could sit you down for 6

01:23:57

hours and like rewire your brain [ __ ]

01:24:00

what what are you capable of but you

01:24:02

can't do that and there will always be

01:24:03

people that disagree with you you

01:24:06

because I think the the the foundation

01:24:08

of what New Zealand was um like Buon

01:24:11

felt like it was people giving it a

01:24:12

crack you know we used to number eight

01:24:13

wi mentality or edman [ __ ] Hillary

01:24:15

climbing over us we we like people that

01:24:17

give it a crack but only to a certain

01:24:18

point yeah yeah in a way well yeah cuz I

01:24:21

think then it makes us realize like oh

01:24:23

[ __ ] I'm not having a crack anything so

01:24:25

then it's sort of easier to to bring

01:24:27

them down the latest thing now mate is

01:24:29

the privilege word you know like if we

01:24:31

search the Google Trend search of that

01:24:33

the usage of that term is probably so

01:24:35

massive but not that long ago people

01:24:37

didn't tell you every day like oh yeah

01:24:39

well you're privileged or they

01:24:40

privileged that's why that's happened

01:24:42

and I understand there's an argument for

01:24:43

bringing that awareness around that but

01:24:46

you I've qu of it's almost like that's

01:24:47

the new internet Poopers point out

01:24:50

others privilege and once you do that

01:24:52

then you can be like ah great now I can

01:24:53

sit back I don't I don't but half the

01:24:56

time people are commenting on other

01:24:57

people's situations where it's nothing

01:24:59

to do with them and but then they're

01:25:00

using it for validation of why they're

01:25:02

not doing something or they couldn't

01:25:04

have it but there's like this is a great

01:25:07

country and a great country to have a

01:25:09

crack at things and people are

01:25:11

incredibly supportive of you like

01:25:13

generate for instance if you go to them

01:25:15

and say Here's my goal here's what I

01:25:16

want to do I've got some runs on the

01:25:17

board I'm not talking [ __ ] this is why

01:25:19

it's important to me will you help me

01:25:21

and you'll be blowing away who goes yes

01:25:24

like we will do that same thing for me

01:25:25

with bgp go to Aly hey we just had 50

01:25:28

people at Wellington here's the um you

01:25:31

know here's the the video and we would

01:25:33

like to do a punter Club here can we

01:25:35

turn this into a partnership like oh

01:25:37

[ __ ] who are you guys whatever like

01:25:39

yeah we'll give you a chance and you

01:25:41

know Paul Wilcox the CEO of Elly you

01:25:43

know he's a massive friend of mine now

01:25:45

because he's one of those people who's

01:25:46

then like okay this guy's energetic he

01:25:48

wants to have a crack then we should

01:25:50

support them and I think there's too

01:25:52

much conversation that people will want

01:25:54

to see you fail but there's equally a

01:25:56

lot of people in New Zealand that will

01:25:58

want to see you

01:26:00

succeed yeah that's a fair point that's

01:26:02

a fair point it's it's probably like um

01:26:04

there 25% at the top end that want to

01:26:06

see you succeed 25% at the bottom end

01:26:08

that that would gladly see you fail um

01:26:10

and then just 50% in the middle who are

01:26:12

sort of indifferent but for some reason

01:26:13

it's always the 25% at the bottom

01:26:15

they're like the trolls on the internet

01:26:16

that seem to make the most noise and

01:26:18

they sound like 80% but they sound like

01:26:21

way more yeah yeah um hey we're get into

01:26:23

some stagram questions [ __ ] this this

01:26:27

been almost an hour and a half it's

01:26:28

great stuff though it's really inspiring

01:26:30

I really enjoy it

01:26:32

um how do I even start investing LOL

01:26:35

yeah good question is it is it yeah well

01:26:38

like there's sort of two ways to answer

01:26:39

this right one is I think the Magic

01:26:41

Bullet and whatnot but the actual answer

01:26:43

is just start and that's why we don't

01:26:46

start because we're scared to him we

01:26:47

don't know how but you know shees for

01:26:50

instance or konel or generate wealth or

01:26:52

your kiwi saer fund if you go and ask

01:26:54

ask them that question they will have

01:26:56

qualified financial advisors they'll be

01:26:57

able to give you advice around what to

01:27:00

have a crack at but there are now Shear

01:27:02

platforms the way I talk about this is

01:27:04

an analogy is that you know sharies for

01:27:06

example have created a way for us to be

01:27:08

able to invest and so it's basically

01:27:10

like we've got the bowling lane now and

01:27:13

then the next layer of information is

01:27:15

don't try and pick stocks it is to pick

01:27:17

a fund so it might be the top 500

01:27:19

companies in America so then we put the

01:27:21

guard rails up at the at the bowling

01:27:24

lane and we can see the pins down there

01:27:27

but the cash is the ball in our hand and

01:27:30

we're like [ __ ] should I bow this cuz

01:27:32

we're still looking for the strike and

01:27:34

we want to hit the strike and if we

01:27:35

don't hit the strike we're like I knew I

01:27:36

shouldn't have done this and you might

01:27:38

but you're not even going to hit a

01:27:39

gutter if you just keep bowling down

01:27:41

with the guard rails up over a long

01:27:44

period of time you're going to hit pins

01:27:46

and you're going to get B and basically

01:27:48

you're going to be a winner in some way

01:27:50

and eventually you can slowly take the

01:27:52

guard rails down and start doing some

01:27:53

things you might like to do but I think

01:27:56

we complicate it more cuz what we're

01:27:58

actually worried about is losing the

01:28:00

money and so you then have to think okay

01:28:03

could you make that money back what's

01:28:04

your like money personality your risk

01:28:07

profile could you make sense of letting

01:28:08

that money go and never getting it back

01:28:10

but there's some phenomenal resources

01:28:12

out there from people who have have

01:28:14

broken down all the barriers of the

01:28:16

stuff yeah but Al also the us500 you're

01:28:18

talking about for you to lose your money

01:28:19

that means the top 500 companies in

01:28:21

America so we're talking Apple uh

01:28:24

cocacola Johnson and Johnson Nidia what

01:28:27

name it name it Nike they all have to

01:28:29

fail on the same day and then you lose

01:28:32

your money it's never going to happen

01:28:34

and I think that you know a lot of us

01:28:35

when we ask a question like that we've

01:28:37

got 100 bucks so even if it goes up 10%

01:28:39

let's say 30 you know it goes up 30%

01:28:41

somehow in a year you've now got 130

01:28:43

like is your life too much different not

01:28:46

really and so I don't think we should be

01:28:48

asking questions like that or letting

01:28:50

those questions be the thing that stops

01:28:52

us we should be asking ourselves like

01:28:54

why haven't I started investing and then

01:28:56

go and seek that information to then

01:28:58

just get started cuz as you get started

01:29:00

that's when you learn more something you

01:29:02

just looping back to something you said

01:29:04

way earlier you talked about um selling

01:29:06

some [ __ ] in your house and you get

01:29:07

$1,000 $1,400 so would that be a good

01:29:10

place to start for someone sell just

01:29:12

sell sell some [ __ ] put the money in

01:29:13

shares great idea yeah or even just have

01:29:16

an emergency fund you a lot of people

01:29:17

have mortgages for instance probably

01:29:19

should just be clearing their debt so

01:29:20

they're paying less in interest uh but

01:29:22

yeah we sit on a lot of material things

01:29:24

that are worth something that we could

01:29:25

sell down or like if you're scared of

01:29:26

losing money so okay let's go what like

01:29:28

how should I start investing investing

01:29:30

yourself first and go right I'm going to

01:29:32

go around the neighborhood I'm going to

01:29:33

build a pot of money that I'm willing to

01:29:35

lose you might sell some stuff or you

01:29:37

might sell your services or your time

01:29:38

babysit the kids now you've made 300

01:29:40

bucks and you go [ __ ] that's what I'm

01:29:42

going to have a crack at and then you

01:29:43

get started with that and you haven't

01:29:45

really lost anything apart from the time

01:29:46

or the things you traded to get that

01:29:48

money but the key is to to get moving

01:29:51

how can I save $100,000 some I'm I don't

01:29:54

know if this is for a house deposit or

01:29:55

it's just a magic number but yeah this

01:29:58

is I've actually done a podcast on this

01:29:59

so I've done this twice I've because

01:30:01

basically I would get to around $10,000

01:30:03

in savings and then I would blow it and

01:30:05

I would basically like self sabotage it

01:30:07

I get up to 12 15,000 and I'd end up

01:30:10

back at 10 and so I times it by 10 and

01:30:12

was like right I'm going to try and do

01:30:14

this to a point where now I know I've

01:30:15

reset my ceiling of what I can save but

01:30:17

I saved a huge portion of my income so

01:30:19

40% very hard to do I I had limited

01:30:23

expenses going out so I was either

01:30:25

living at home or I was housesitting so

01:30:27

no no um living cost cuz your living

01:30:31

cost will always be the biggest expense

01:30:32

in your life so if you can play with

01:30:34

that expense throughout your life by

01:30:35

decreasing it or subsidizing it you're

01:30:37

going to free up cash that you can save

01:30:39

I couldn't trust myself with the money

01:30:40

so I allocate it to my sister every time

01:30:43

I would give her money I would then

01:30:44

write it down so mentally I might okay

01:30:46

I'm at 12,000 14 15 40 Etc and I just

01:30:49

stacked and stacked and stacked until

01:30:52

I'd finally done that but people along

01:30:54

that Journey you're going to get bored

01:30:55

and you're going to go I want to do it

01:30:56

faster so people are then going to look

01:30:58

to gamble the money you know they're

01:30:59

going to basically look for some project

01:31:01

they can invest into nft or some share

01:31:04

hoping that it will happen faster but if

01:31:05

you've already stacked coin like you've

01:31:07

got an answer as to how you've done that

01:31:09

now your job is to figure out how can I

01:31:10

do that faster or at scale and that's

01:31:14

when I think you have to go into income

01:31:16

earning mode and figure out how to

01:31:18

decrease your expenses and then increase

01:31:21

your income by adding value to the

01:31:22

marketplace right

01:31:24

uh what separates good small businesses

01:31:26

from average small

01:31:28

businesses uh not as much as people

01:31:30

think so it's not like some magic bullet

01:31:33

but actually understanding your margins

01:31:35

so what I mean there is this t-shirt

01:31:37

right it might cost $100 for me to buy

01:31:39

but it might uh for the small business

01:31:41

owner it might have costed $50 to create

01:31:43

so my margin's $50 and then I've got $50

01:31:46

left to run the rest of my business so

01:31:48

my rent my marketing my bank fees my

01:31:50

accounting my insurance Etc if you don't

01:31:52

understand margins that's not nor where

01:31:54

most businesses will will bugger

01:31:56

themselves and if they can't figure that

01:31:58

side of things out but you have to go to

01:32:00

the market the market won't come to you

01:32:02

it's probably the thing that I've been

01:32:03

saying to businesses for last 3 years is

01:32:05

stop like waiting for people to come to

01:32:07

you we've got to go knock on the doors

01:32:09

we've got to build the Partnerships

01:32:10

we've got to go and sell the stuff

01:32:13

because that's our

01:32:15

responsibility what is a scarcity

01:32:18

mindset versus a growth mindset I've

01:32:19

seen it on Tik Tok but I still don't

01:32:21

really get it okay uh so

01:32:24

good luck probably another hour mate

01:32:27

okay how can I answer

01:32:28

thisly so scarcity is everything in the

01:32:31

world shows up for you and it's like

01:32:33

there's not enough and it's small and

01:32:36

you'll never have enough and all you see

01:32:38

is basically that's expensive um you

01:32:41

know I used to do this oh I could buy uh

01:32:44

that sandwich in that Cafe is $23 but

01:32:46

it's but it's um $15 at Subway what the

01:32:49

[ __ ] how can they justify

01:32:50

$23 you're constantly thinking that

01:32:54

there can't be more money in the world

01:32:56

abundance thinking is you know seeing

01:32:59

that everything that's happening around

01:33:01

you like holy [ __ ] like someone built

01:33:02

this building someone built all of the

01:33:05

stuff like how did they how did they

01:33:07

make sense of spending the money to do

01:33:09

that that there'll always be more money

01:33:12

in the world that you could finally

01:33:13

stack $100,000 but it's still not much

01:33:16

compared to what somebody else has been

01:33:18

able to do but that's okay you know run

01:33:20

your race so it's just understanding

01:33:23

that there's more more out there than

01:33:25

than what you realize and there's so

01:33:27

many examples of you know people that

01:33:29

are doing real big stuff there's a

01:33:31

company in New Zealand that's just been

01:33:32

acquired for a billion American dollars

01:33:34

and their pot of money that they go

01:33:36

around and buy Investments with around

01:33:38

the world is bigger than all of our kiwi

01:33:40

saer balances combined wow yeah and once

01:33:43

you learn that the money's out there

01:33:44

you've got to go figure out how to get

01:33:45

it off people life is different because

01:33:48

that's just data you know so then you

01:33:50

realize oh I just haven't been taught

01:33:52

how to go get my piece of that and if

01:33:54

you get if you then accept that and then

01:33:56

you move into then I've got to learn how

01:33:57

to do that then the world becomes more

01:34:00

abundant because you realize there's so

01:34:01

much money out there I love that oh

01:34:04

thank you hopefully that helps explain

01:34:05

it for them yeah um I I I saw some quote

01:34:09

on Instagram which I thought did a quite

01:34:10

a good job as well it talked about um

01:34:11

instead of trying to make the um the

01:34:13

fence of your house taller make the

01:34:15

dining room longer there's plenty of

01:34:17

room for more at the table so don't try

01:34:18

and like lock people out yeah let them

01:34:21

in um yeah I've sort of found that like

01:34:23

radio the radio industry is what had may

01:34:26

have changed since I've been out but it

01:34:27

was always a scarcity sort of mindset

01:34:28

it's like if someone's listening to ZM

01:34:30

it means they're not listening to the

01:34:31

edge like whereas podcasting it's very

01:34:34

inclusive it's like um I've become

01:34:36

friends with so many podcasters and you

01:34:38

if few podcasters doing well it means

01:34:40

fantastic there's more people on the the

01:34:42

platform and there's plenty of room for

01:34:43

everyone yeah that's right yeah I think

01:34:45

it is understanding that we can grow

01:34:47

something or grow the pie rather than

01:34:48

that the pie is like stuck and a finite

01:34:51

resource yeah um and I better off to pay

01:34:54

off my mortgage as fast as possible and

01:34:56

save very little or save heaps and pay

01:34:58

the mortgage off slowly yeah good

01:35:00

question I have to be careful not giving

01:35:02

Financial advice as such um so this is

01:35:05

not Financial advice but for a lot of

01:35:08

people at the moment they're probably

01:35:09

going to get a better return with higher

01:35:11

interest rates around the 6 7 8% rate uh

01:35:14

by clearing that debt and then not

01:35:16

having that as an outgoing than trying

01:35:18

to invest it because a lot of people

01:35:20

don't know what they're doing with

01:35:21

investment they might pull it out the

01:35:23

day goes down 20% and be like Oh knew I

01:35:25

should have paid off my mortgage so it's

01:35:26

always a hindsight type decision and a

01:35:30

behavior decision of what would the

01:35:31

person have done but a lot of people

01:35:33

will give you the other answer no you

01:35:34

should actually invest the money for the

01:35:36

longer term and then just keep you know

01:35:38

chipping away out your debt and then

01:35:39

slowly those investments will turn into

01:35:41

more and you can clear that debt so

01:35:44

individually you've got to then take it

01:35:45

back to someone's goals to figure out uh

01:35:47

you what's right for them yeah for sure

01:35:50

um do you have any hacks to create and

01:35:52

stick to a budget yeah so um do it every

01:35:57

month now there's two things here so a

01:36:00

budget they might be meaning okay I'm

01:36:02

going to allocate myself XYZ and I've

01:36:04

got to stick to

01:36:05

that that why that becomes a mind [ __ ]

01:36:08

is because all of a sudden you're down

01:36:09

on the viaduct and you realize that

01:36:11

espro martinis are now

01:36:13

$23 they are yeah my God it's insane and

01:36:17

your budget for alcohol that week was

01:36:19

like you know $100 but now 5 * 23 is 115

01:36:23

and you're like oh my God I've just

01:36:24

blowing my budget buying the round for

01:36:25

everyone like [ __ ] why did my friend

01:36:27

Sally or John why did he have to pick

01:36:30

espresso martinis if we just stuck to

01:36:32

beers so then your budget becomes really

01:36:34

frustrating you're trying to stay in

01:36:35

this allocation I you know again

01:36:37

thinking bigger abundance keep the

01:36:39

change it's like right how can I make

01:36:41

more money that I can get out of the way

01:36:43

of having to be hellbent on sticking to

01:36:45

an allocation uh but the more you put

01:36:48

your mind on your money so I have a

01:36:49

process that's in money mail week number

01:36:51

two so the first things that I taught

01:36:53

cuz this what what happens in business

01:36:54

you model out your cash how much cash do

01:36:56

I have now how much do I have coming in

01:36:58

this month how much is going out am I

01:37:00

going to run out of money if I'm going

01:37:01

to run out of money we need to go make

01:37:03

some more money that's what a business

01:37:04

has to do uh if we're not going to run

01:37:06

out of money like great okay we're

01:37:08

stacking it then what do we do oh we buy

01:37:09

some more assets down the track Etc so

01:37:12

same thing for an individual I think the

01:37:13

same Concepts can be learned

01:37:15

individually of okay then you figure out

01:37:16

where am I going to allocate that money

01:37:18

and then every month as well what you

01:37:20

want to do is you want to do uh net

01:37:22

worth calculations so so that's

01:37:23

basically what are my assets L what are

01:37:25

my liabilities it's exactly what a

01:37:27

business does it's called a balance

01:37:28

sheet but basically that's if you go for

01:37:30

borrowing from a Brank bank they will

01:37:32

say show me your financial position same

01:37:34

thing but three different terms assets

01:37:36

minus liabilities and your track your

01:37:38

kiwi saver uh you track your sheries if

01:37:41

you've got that your kernel your

01:37:42

generate fund uh your money in the bank

01:37:45

your emergency fund all of that all your

01:37:47

assets your house and then you track

01:37:49

right what are my debts so I've got a

01:37:50

credit card but I'm slowly trying to pay

01:37:52

that down I'm trying to get rid of of

01:37:53

those debts might buy now pay later but

01:37:55

we want to get rid of that too uh you

01:37:56

might have your house debt and so then

01:37:58

you have your assets minus your

01:37:59

liabilities equals your net worth now

01:38:01

your net worth is not your selfworth but

01:38:03

your net worth you want that to be

01:38:04

increasing over time and you think about

01:38:07

it why do we like seeing who's on the

01:38:08

rich list this like this year well

01:38:10

that's their net worth someone's

01:38:12

calculating it for them so why don't we

01:38:14

calculate it for ourselves oh um Elon

01:38:16

Musk is worth however many billions

01:38:18

someone's trying to calculate his net

01:38:19

worth but individually we don't do this

01:38:22

stuff but if you do it every month and

01:38:24

you put your mind on your net worth

01:38:25

increasing via increasing your assets

01:38:27

and decreasing your liabilities then

01:38:29

you'll probably pay more attention to

01:38:31

where your money is going as well so

01:38:33

I've kind of Twisted the whole budgeting

01:38:35

thing and thought of it more business

01:38:36

fundamentals of cash flow and then where

01:38:38

does the money

01:38:41

go yeah it is hard to live within your

01:38:43

means on a month-to Monon basis though

01:38:45

isn't it especially now yeah yeah and

01:38:48

like phone's like 2 and a half Grand I

01:38:50

know got I got one on the weekend the

01:38:52

crazy thing is mate like I said I'll pay

01:38:53

for it up front cuz I've got myself to

01:38:55

the point where I could pay for it you

01:38:56

know over the years I've always financed

01:38:57

it they're like ah you got to pay full

01:38:59

price I'm like sorry what well we can

01:39:01

discount it for you if you finance it

01:39:02

over to I'm like what the [ __ ] the

01:39:03

world's backwards you used to pay things

01:39:05

up front in cash or whatever and get a

01:39:07

discount now they're like we'll give you

01:39:08

discount if you finance it so

01:39:10

everything's been turned on its head

01:39:11

it's cooked um how important is it to

01:39:15

have multi by the way these are

01:39:16

questions from Instagram how important

01:39:18

is it to have multiple streams of income

01:39:20

and what are some practical ways to

01:39:21

create them so people who have more

01:39:24

money than others normally have multiple

01:39:27

streams of income and it's probably an

01:39:29

old teaching of if you can do that your

01:39:32

life will be very different MoneyWise so

01:39:34

you might have uh your one form of

01:39:36

income which might be your salary but

01:39:38

can you build other forms of income so

01:39:40

it could be babysitting or cutting

01:39:42

people's Hair Etc because what it it

01:39:44

teaches you that there is more money out

01:39:46

there and that you can do that now other

01:39:48

people will look at it as oh rental

01:39:50

investment income passive income from

01:39:52

dividends and stuff like that those are

01:39:54

like what I call bonus drips of cash

01:39:56

that are coming from good allocation of

01:39:58

money but if you can learn again learn

01:40:00

ways to create more money and have

01:40:02

multiple streams of income the world

01:40:04

just starts looking different because

01:40:06

you you you know you you go and clean

01:40:07

your neighbors gutter but then they say

01:40:09

before you leave could you please do the

01:40:11

hedges [ __ ] you just went from one form

01:40:13

of income which was your job to Knocking

01:40:15

on a door to then having a second form

01:40:17

by doing the gutters to now [ __ ] I got a

01:40:18

third form you know and you've just

01:40:20

tripled the the number of streams of

01:40:22

income that you have and you just then

01:40:24

start seeing more opportunities in more

01:40:26

forms of

01:40:27

income yeah there's probably a lot of

01:40:29

people um listening to this um make it

01:40:32

to sound too simple yeah no what I think

01:40:36

a lot of people listen to this probably

01:40:37

feel lazy like they're not doing enough

01:40:38

and they need to [ __ ] get get their

01:40:40

A&G and do something straight away

01:40:42

there's in particular a lot of people

01:40:43

that would probably have a 9 to-5 job

01:40:45

that they're not necessarily passionate

01:40:46

about that are Keen to um you know start

01:40:49

some sort of side hustle what would be

01:40:51

the best way to like begin how do you

01:40:52

start that I've just released two

01:40:54

podcasts on when to quit your 9 to5 and

01:40:56

how to quit your 9 to5 to go over those

01:40:58

in detail but basically you shouldn't

01:41:00

quit your job if you're like really

01:41:02

really dependent on all of that cash

01:41:04

that you've got coming in and you're not

01:41:05

in a season to quit right so basically

01:41:08

you've just had a child you've just

01:41:09

taken out the mortgage or whatever

01:41:11

probably your decisions have led you to

01:41:12

the point where it's going to be very

01:41:13

hard to do that but if you can um you

01:41:16

know if you're in a season where you can

01:41:17

slowly build up some income somewhere

01:41:19

else while still working then you can

01:41:22

slowly like drisking and get away from

01:41:24

that and build up um some emergency

01:41:27

funds or some funds that can get you

01:41:29

through so that you can transition over

01:41:31

because if you start a new thing and you

01:41:34

want to build something from scratch

01:41:35

there's a high chance the income is not

01:41:36

going to come as quickly as you think

01:41:38

that it will but you know a lot of

01:41:40

people have a lot of days off now if we

01:41:42

look at 20 annual leave days 10 sick

01:41:44

days 104 weekend Days 12 public holidays

01:41:49

I think it's 140 days or something which

01:41:51

is excuse me about 40% of of the year if

01:41:54

we got a corporate role say that we

01:41:55

don't actually have to be at work now

01:41:57

those are just levers and you could just

01:41:59

use some of those to create some income

01:42:01

doing something else and it could be

01:42:04

something that you've got a skill set

01:42:05

aligned to but you've got to go test the

01:42:07

market to see does the market actually

01:42:08

want that money and then if it does then

01:42:11

you will realize okay I I I may not need

01:42:14

this job at some stage but you want to

01:42:15

run some numbers to see how far your

01:42:17

prodct cash will take

01:42:19

you I like that so just prioritizing

01:42:21

your time a bit differently as well yeah

01:42:23

and it might just be for a year it might

01:42:24

be for two years whatever like I used to

01:42:26

get up at 5:00 a.m. and [ __ ] get

01:42:27

straight into work and stuff but I don't

01:42:29

need to do that at the moment but I

01:42:30

might have a project that means that I

01:42:31

have to do that but like we all we're

01:42:34

we're so quick to dismiss Solutions cuz

01:42:37

we don't want it to be the solution but

01:42:38

so many the business owners that I speak

01:42:40

to and the people that are doing well

01:42:41

that I speak to they just accept that

01:42:43

they just will have to eat [ __ ] or do

01:42:46

[ __ ] that they don't want to do but as

01:42:48

long as they can tell themselves it's

01:42:49

temporary they're willing to do it and

01:42:51

they then they just talk about it a Sear

01:42:53

but then we read it and we're like [ __ ]

01:42:55

off mate you didn't sacrifice to bloody

01:42:57

all of a sudden quit your job and be

01:42:59

doing this man you got lucky come on

01:43:01

what's the well you don't have kids you

01:43:02

don't understand Etc instead of just

01:43:05

been like what's the lesson that I can

01:43:07

take from this well I've got um Emma

01:43:09

leish coming around for a podcast in the

01:43:11

next the next few weeks I've been doing

01:43:12

a bit of research on her and it sounds

01:43:14

like she spent the last couple of years

01:43:15

in her corporate job like doing sort of

01:43:17

research and development before she uh

01:43:19

yeah pulled the trigger and nice started

01:43:22

started her brand which is just flying

01:43:25

yeah epic um these things do take time

01:43:27

as well I just on that like I think

01:43:28

we're so quick to forget that it took us

01:43:31

years and sometimes a decade to get to

01:43:33

our career uh with the point we're at

01:43:35

with the income that we're earning and

01:43:36

we just think we're going to go out

01:43:38

there quit our job and we should be paid

01:43:39

the same amount and that's what's going

01:43:40

to help us cut our job being paid the

01:43:42

same amount but I mean you would have

01:43:43

taken steps backwards in your career

01:43:45

before to then take leaps forward oh

01:43:47

mate you're like going from um breakfast

01:43:49

radio money to podcast money I think it

01:43:51

was like a 90% pay cut the first yeah um

01:43:54

but I I had a quote hung up [ __ ] who it

01:43:56

was either from from Steve Jobs or Elon

01:43:58

Musk it was um may not even be

01:44:00

attributed to one of those originally

01:44:01

but it's something like um most people

01:44:04

um overestimate what they can do in one

01:44:06

year and underestimate how much they can

01:44:07

do in five or 10 years so true it's so

01:44:09

true isn't it yeah yeah and it's so easy

01:44:11

for us to say because you've done the

01:44:13

journey you know you've like you do a

01:44:15

block of five years of work and so what

01:44:17

I say to people is if you're going to

01:44:18

quit your job if you're going to have a

01:44:19

crack at something allocate 5 or 10

01:44:21

years in your head and then tell me if

01:44:23

don't think it's possible you don't have

01:44:24

to try and do it all in 12 months like

01:44:26

it will take longer than that yeah are

01:44:29

term deposits actually worth it um

01:44:33

so so people will say that tomm deposits

01:44:36

are guaranteed to way to lose money

01:44:37

because basically a term deposit over

01:44:39

the long term won't be paying you enough

01:44:41

to beat inflation especially by the time

01:44:43

you pay tax at 30% 33% 39% whatever your

01:44:46

marginal tax rate is so let's just say

01:44:48

you are taxed at 33% because you earn

01:44:50

over $78,400 now

01:44:53

um if you're earning a 6% term deposit

01:44:55

rate well a third of that is going to

01:44:57

tax you're only really getting net 4%

01:45:00

but if inflation is higher than that

01:45:02

then the things that you could buy at

01:45:05

the end of that term are going to cost

01:45:07

more anyway so your money has become

01:45:10

worth less so a lot of financial

01:45:12

advisers would say like don't park your

01:45:14

money in turn deposits for too long uh

01:45:16

because inflation will end up eating

01:45:18

into there and interest rates start to

01:45:19

decrease and they might outstrip

01:45:21

inflation so it's a very simple

01:45:23

Financial product to understand because

01:45:25

we feel like we're getting some income

01:45:26

coming back but it may not be keeping up

01:45:29

with the growth of inflation right my

01:45:32

girlfriend moved into my house almost

01:45:33

two years ago if we break up am I

01:45:35

potentially screwed oh gee that's a

01:45:37

goodie uh I don't know enough about law

01:45:40

to yeah to be out to answer that um but

01:45:43

you could roll that through chat you be

01:45:44

10 it'll

01:45:47

probably it might give be the answer uh

01:45:50

um someone else is um should I be

01:45:52

investing in property

01:45:54

um again like everything comes back to

01:45:56

what it is that you're trying to achieve

01:45:58

and we spoke about this earlier on in

01:45:59

the podcast is actually have a goal what

01:46:01

are your goals and then it becomes

01:46:02

clearer what you want to be investing

01:46:04

into if you if you like property and

01:46:06

that's your thing then yeah of course

01:46:08

you probably want to be thinking about

01:46:10

investing into property if it's not your

01:46:12

thing then that's okay as well but like

01:46:13

what is your thing and think about what

01:46:15

it is that you're going to you know try

01:46:17

and build knowledge around to find

01:46:20

returns and stuff because the tried and

01:46:23

truee path of property it may not be the

01:46:25

same as it has been previously because I

01:46:27

think we'll probably see in our

01:46:28

lifetimes that the conversation will get

01:46:30

loud enough for a capital gains tax for

01:46:32

instance and so enough people will vote

01:46:34

for that and then maybe it doesn't you

01:46:36

know it wasn't what it was but we've got

01:46:38

a lot of recency bias in this country of

01:46:40

that's the way to get ahead you know you

01:46:41

can make more money in property rather

01:46:43

than doing a job but you know there's a

01:46:45

saying that property doubles every 10

01:46:47

years well that's a great saying and

01:46:50

really cool but that should [ __ ]

01:46:51

scare the [ __ ] out of us now why does

01:46:53

double every 10 years if people if you

01:46:54

buy a property and do nothing to it in

01:46:56

10 years time it's worth double what you

01:46:57

paid for it we should be like that's

01:46:59

pretty broken and I want to figure out

01:47:01

why that's broken defin if you you know

01:47:03

renovate it and add value to it and

01:47:05

whatnot but that's because money's

01:47:08

becoming worth less so kiwis uh store it

01:47:11

in property because we feel like it's

01:47:12

going to be protected from inflation and

01:47:15

that's actually behind a lot of the

01:47:16

increases in property and then you can

01:47:18

then go and borrow more from the bank as

01:47:20

well and then you just become a

01:47:21

servicing machine of servicing the debt

01:47:23

on that and you can go wider but there's

01:47:26

not enough genuine or true conversation

01:47:28

of that's kind of what's been happening

01:47:30

uh over the last 40 years as interest

01:47:32

rates have decreased and people have

01:47:33

been able to do that and who knows like

01:47:35

maybe that's come to an end or maybe we

01:47:37

go again and we have another boom bust

01:47:40

cycle uh but you know it can't keep that

01:47:43

doubling every 10 years can't keep going

01:47:44

forever though it just can't it just

01:47:46

can't yeah who knows like does something

01:47:48

break does it not but all we then see is

01:47:50

that less people can afford a property

01:47:52

and so then what happens you have you

01:47:54

have people growing up that are like

01:47:55

this is unfair this is [ __ ] I'm

01:47:57

going to Australia like a lot of people

01:47:58

are moving to Australia because they're

01:48:00

like well the cost of living is too high

01:48:01

here and what they're saying is I can't

01:48:03

save enough for a deposit I can't afford

01:48:05

my rent or I've got this property now

01:48:07

I'm paying these rates and [ __ ] so we

01:48:08

might have a different type of you know

01:48:11

generation where they go you know I

01:48:12

don't need to own property I'm going to

01:48:13

do something different I think it's

01:48:15

almost exciting for the country to

01:48:17

figure out what what does that unlock

01:48:18

because if you're not just tapped into

01:48:20

the mortgage of like right now I need to

01:48:22

you know I can keep paying that

01:48:24

otherwise I'm going to die um and

01:48:26

they're going to take my house and

01:48:27

whatnot then you might make different

01:48:29

life decisions um but the cost of

01:48:32

housing in New Zealand is so high that

01:48:34

we are forced to be like now I better

01:48:35

get on what we call the property ladder

01:48:38

in order to do that but my suggestion

01:48:40

would

01:48:40

be housing will always be expensive for

01:48:43

you learn how you can decrease or

01:48:45

subsidize that cost Airbnb a border a

01:48:48

tenant uh rent it out rented out for

01:48:50

weekends rented out for long weekends ET

01:48:54

that's if that's your biggest cost in

01:48:55

your business we're then figure out how

01:48:57

how can we bring that cost down so no

01:48:59

different to us

01:49:00

individually bit of a tangent there no

01:49:03

no it's it's it's good though it's we

01:49:05

yeah we there's a long-standing love

01:49:07

affair with um property a even um there

01:49:10

was an open home in my apartment complex

01:49:12

last weekend and there was a dad up from

01:49:13

methin who was um looking to help his

01:49:16

his two daughters who both live in

01:49:17

Oakland both work as doctors actually

01:49:19

help them get in so it's like the the

01:49:22

the continues yes yeah and theyve like

01:49:24

they've seen it play out so they're not

01:49:26

incentivized to find a different

01:49:27

solution cuz it's worked for them and

01:49:29

their wealth is tied up in property

01:49:30

there too many people have got too much

01:49:32

wealth and their identity tied up in

01:49:33

property you tell someone that's made

01:49:35

their wealth out of property like hey

01:49:37

actually a [ __ ] investment should have

01:49:39

put the same money in the shares Etc you

01:49:40

didn't actually make as much profit as

01:49:42

you think because you thought you

01:49:43

brought it for a million you sold it for

01:49:45

2 million or it's worth 2 million now

01:49:47

that you've made a million dollars you

01:49:48

forgot about your rates your interest

01:49:50

your repairs your opportunity cost

01:49:52

they're like [ __ ] you man like you're

01:49:54

just playing with my identity now that

01:49:55

you're wrong like get out of my face

01:49:57

that and then in accounting we have to

01:50:00

have these conversations with each other

01:50:01

around like what's happening in this

01:50:02

business and it challenges the status

01:50:05

quo yeah one one thing I love about

01:50:07

property and I'm I'm guilty of this like

01:50:09

when the Market's going really well

01:50:10

everyone becomes an

01:50:12

expert I'm good at this I'm good at this

01:50:15

it's realistically it's just a case of

01:50:17

all boats all boats Rising um can you

01:50:20

explain the concept of good Deb is bad

01:50:23

debt and how people can manage their

01:50:25

debts wisely okay so CU I know I can

01:50:28

Revel on with these answers so apologies

01:50:30

but good debt versus bad debt how I

01:50:32

explain this is bad debt is [ __ ] that's

01:50:33

not going to generate you a return so

01:50:35

let's be real but what's happened is

01:50:37

they've sexed up bad debt so buy now pay

01:50:39

later man interest free it's not even

01:50:41

really debt you just got to pay it off

01:50:42

in four installments hey like that's

01:50:45

still debt cuz you're borrowing from

01:50:46

your future self and you you don't need

01:50:48

the sunglasses or you're not like you're

01:50:50

not going to care about them eventually

01:50:52

Etc so so that's bad debt but it's been

01:50:54

wrapped in a good packaging with a

01:50:55

pastel color and sexy and no interest

01:50:57

and and we're winning but you're buying

01:51:00

[ __ ] that's not actually going to um you

01:51:02

know improve your life or generate a

01:51:03

return I got a client today that I

01:51:05

talked to and they're borrowing money

01:51:07

and they're borrowing it at 10% for

01:51:08

instance but they can take that

01:51:10

equipment and they can generate more

01:51:11

money in the economy with that by

01:51:14

solving the problem that the equipment

01:51:15

allows them to solve and so they can

01:51:17

make a margin they can afford a 10% rate

01:51:19

it's actually good debt because without

01:51:21

that they can't generate the income so

01:51:23

it depends what you're doing but there

01:51:26

are like and everyone will have a

01:51:27

different definition but the way I try

01:51:29

and simplify is is this debt so what I'm

01:51:31

going to borrow is it going to get me a

01:51:35

return higher than the cost of the debt

01:51:37

now another way to think about this to

01:51:38

take it away from money is right there's

01:51:41

a new Netflix series that I've got to

01:51:43

watch because my mates are telling me

01:51:45

you got to watch it man it's it's unreal

01:51:47

and from the start you're like okay it's

01:51:49

14 hours you've got to pay 14 hours of

01:51:52

your time to catch up to all of your

01:51:54

mates to be able to fit into the

01:51:56

conversation but you're also working on

01:51:58

something else on the side that Netflix

01:52:01

now becomes a debt so it's a bad debt

01:52:03

because you know that you could spend

01:52:05

that 14 hours working on your project

01:52:07

and that's going to get you closer to

01:52:09

your goals so we don't always have to

01:52:11

think about it as money we put ourselves

01:52:12

into debt all the time I've started the

01:52:14

Netflix show Dom I'm three episodes in

01:52:16

I've got 11 to go baby here yeah you

01:52:19

know and and you when you go into

01:52:21

business and you you build projects and

01:52:23

you build apps and you you you do

01:52:26

different things you're building

01:52:26

communities and creating content you

01:52:28

start to spot de more you're like oh I

01:52:30

shouldn't have started that because it's

01:52:32

not a good use of my time and this is

01:52:34

something we're always going to have to

01:52:35

deal with because algorithms are so good

01:52:37

at getting our attention you know I'll

01:52:38

see a 40-minute um video about the

01:52:41

[ __ ] economy is going to collapse in

01:52:42

August and here's why I'm like a [ __ ] I

01:52:44

better watch that and I'll listen to the

01:52:46

40 minutes and be like oh man they

01:52:47

really got me with the title but that

01:52:49

actually wasn't you know that didn't add

01:52:51

much value to my life so I just put

01:52:52

myself into more dip cuz now I've got to

01:52:54

make their 40 minutes up somewhere I

01:52:56

like that that's a really good

01:52:57

explanation as well I think um framing

01:52:59

it differently so it's not just about

01:53:00

money not just about buying um you

01:53:02

depreciating assets versus yeah yeah

01:53:04

yeah yeah cuz the thing is like I'm

01:53:06

going to say something's bad debt but

01:53:07

then you're going to go home and your

01:53:08

mom or your dad or whoever is going to

01:53:10

be like no he's wrong that's good debt

01:53:11

and so then you're stuck again or is it

01:53:13

good so then we got to take it back to

01:53:15

other things so it's not a money so

01:53:16

we're not fighting about it to be like

01:53:18

oh yeah that actually wasn't a good idea

01:53:19

for me to watch 14 hours of that [ __ ]

01:53:20

show when I could have been you know

01:53:22

working on my project or my exams or

01:53:24

creating more money on my business is

01:53:27

money the root of all evil the Bible

01:53:29

saying is actually for the love of money

01:53:31

is the root of all evil I think humans

01:53:34

again we've hijacked it oh so that means

01:53:36

does that what does that mean like greed

01:53:37

yeah so if we get if we fall in love

01:53:39

with it and we're just constantly trying

01:53:41

to you know have more love of money

01:53:43

that's when we'll find ourselves in in

01:53:45

[ __ ] and we we see a lot of evil

01:53:47

happening you know there because the

01:53:49

other way to think about this is a lot

01:53:51

of people who do a lot of good [ __ ] once

01:53:52

they have money and that's also you know

01:53:54

someone challenged me one day they were

01:53:55

like cuz a lot of people say oh you know

01:53:57

money doesn't buy you happiness or you

01:53:59

don't need much money and someone was

01:54:01

like sweet well then like [ __ ] are

01:54:03

you never going to donate to charity

01:54:04

you're never going to have enough to

01:54:05

donate to charity well you really care

01:54:07

about those things over there so you're

01:54:09

because you believe that you're not

01:54:10

going to go out there and get more of it

01:54:11

off of other people and then allocate it

01:54:13

to the things that you care about so you

01:54:15

know I donate my time and my money

01:54:17

through keep the change now and as I've

01:54:19

been able to earn more money I can then

01:54:21

make keep the change bigger help more

01:54:22

people cuz I care about it or I could

01:54:24

stay back at the start and bark about it

01:54:26

and be like [ __ ] ridiculous what's

01:54:28

going on over there they've got all the

01:54:29

money they should be doing this with it

01:54:31

and so someone really challenged me on

01:54:32

well mate like if you don't like what's

01:54:34

happening why don't you go and make more

01:54:36

money and then move it over there and

01:54:37

you can allocate it and do it for good

01:54:39

you think that's good to do so then

01:54:41

prove it by actually going and doing it

01:54:43

and sometimes you need those people in

01:54:45

your life to challenge you to be like oh

01:54:46

man they just suffocated all my [ __ ]

01:54:48

in in in one go and so then you get out

01:54:51

of the like oh okay cuz the money is the

01:54:54

root of all evil someone taught you that

01:54:55

you know someone planted that in your

01:54:57

brain rich people are all evil you know

01:54:59

all that [ __ ] like every saying around

01:55:01

money someone you didn't know it at some

01:55:04

stage in your life so someone said it

01:55:06

and then you found enough information to

01:55:08

think they were right and so then you

01:55:10

hold on to it and then that's how you

01:55:11

live your life out too and this this

01:55:14

will sound offensive but it's very hard

01:55:16

for someone who's poor to donate to

01:55:18

something that they care about and you

01:55:21

know and it's it's often people who have

01:55:24

got wealth and whatnot who go and try

01:55:26

and solve problems and you know I saw

01:55:28

when the the rich list came out recently

01:55:30

the the Mal bra and whatnot are now the

01:55:33

top right and you recently spoke to Anna

01:55:35

and it's like right let's piling on them

01:55:37

they've got way too much and back and

01:55:38

they corrupting the planet and all this

01:55:40

sort of [ __ ] man we don't know like they

01:55:42

might bring 15 billion bucks back here

01:55:44

one day and be like we're going to solve

01:55:45

that we're going to solve that we're

01:55:46

going to build the Waterfront stadium

01:55:48

and we're all going to go oh [ __ ] I

01:55:50

might go to the game like it's all good

01:55:51

we're not going to be like oh yeah I'm

01:55:54

boycotting the stadium we're going to be

01:55:55

like oh mate Drake is coming and he's

01:55:57

playing there I'm I'm going you know and

01:56:00

you know what I mean and so we want to

01:56:02

like have a crack at these people but

01:56:03

they're going to choose what they do and

01:56:05

where they allocate that money and you

01:56:06

know grahe Hart I think he donated

01:56:08

[ __ ] half a million bucks one day to

01:56:10

Starship hospital so what happens like

01:56:12

when your kids at Starship hospital and

01:56:15

they ring you and go oh hey just the

01:56:16

heads up um your child is about to die

01:56:20

um but we've got this amazing Ma and we

01:56:22

can save their life [ __ ] do it say

01:56:25

like what are you why are you ringing me

01:56:26

oh we just have to let you know grahe

01:56:28

Hart donated the money we've been on

01:56:29

your social media and we saw that you

01:56:32

left six comments about how he's a piece

01:56:34

of [ __ ] and he takes advantage from

01:56:36

people and stuff so we just wanted to

01:56:37

check are you sure you want us to go

01:56:40

through of this and you you're going to

01:56:41

be like put them on the machine mate

01:56:43

what the [ __ ] is this got to do with

01:56:45

anything so when people have like taught

01:56:47

me those sorts of things to change the

01:56:49

way I look at money it's really

01:56:51

confronting and but I think those are

01:56:53

some good examples to just show how much

01:56:55

um we are individually with money we get

01:56:57

so wound up about it but we will we will

01:57:00

contradict ourselves because you know

01:57:02

I'm the finance Guy saying hey save some

01:57:04

money and make some more then I'm like

01:57:06

I'm going to have a bing Syndicate this

01:57:07

week who wants to kick some money in so

01:57:09

everybody's always contradicting

01:57:11

themselves but there's good with money

01:57:14

and there's bad with money it normally

01:57:15

just magnifies who someone is I know

01:57:18

it's just a c catchy Bank slogan but I

01:57:20

think it was bz that had a campaign a

01:57:22

few years ago saying money is not good

01:57:23

or bad it's what you do with it oh yeah

01:57:25

and uh yeah it's 100% true I thought hey

01:57:28

um J there is so many so many questions

01:57:31

from Instagram oh no it's really good

01:57:32

stuff might have to get you back another

01:57:34

another another

01:57:36

stage but for anyone that wants um is

01:57:38

intrigued and wants more uh keep the

01:57:40

change give the podcast to follow hey we

01:57:42

just end I've got some um quick fire oh

01:57:45

[ __ ] what is your oh here's a question

01:57:48

what is your definition of quick fire

01:57:49

mate yeah yeah I talk for eight minutes

01:57:51

on there from um yeah the generate kiwi

01:57:54

saers scheme my podcast sponsors they've

01:57:56

been phenomenal and I know they've um

01:57:58

been fantastic with you as well um so

01:58:01

they've uh challenged me to give $20,000

01:58:03

to charity by spreading the word about

01:58:04

the importance of kiwi saer advice and

01:58:06

planning for your future so if you

01:58:07

answer these questions generate will

01:58:10

donate 500 bucks to a charity of your

01:58:11

choice sweet by what would it be what

01:58:13

would your charity yeah it's a good

01:58:15

question um my brain goes straight to

01:58:17

like the Men's Health Trust um so

01:58:19

probably through you know but maybe

01:58:20

let's go like some sort of suicide

01:58:21

prevention what we spoken about earlier

01:58:23

okay Luke Kim are you a spender or a

01:58:26

saver I'm a store saver yeah yeah but I

01:58:29

still spend money like I would buy

01:58:31

extravagant [ __ ] what has been your

01:58:32

biggest money

01:58:34

mistake oh getting in and out of the

01:58:36

market with stocks 82 milk Etc not

01:58:39

learning enough about myself to

01:58:42

understand that investing is for the

01:58:43

longterm I was treating investing as

01:58:45

gambling actually it's funny you said it

01:58:48

CU like a lot of there was massive

01:58:50

massive news coverage um at the

01:58:51

beginning of the um Co pandemic about

01:58:53

people doing this with their kiwi saer

01:58:54

so people that were in aggressive funds

01:58:57

um saw the their total go down so they

01:58:59

moved it over to a conservative knocking

01:59:01

in the losses yes yeah and then they

01:59:02

were too slow to move it back too

01:59:04

aggressive Etc and so yeah it's

01:59:06

dangerous um who do you talk to when you

01:59:09

have questions about money uh do you

01:59:11

listen to your own podcast yeah yeah I

01:59:12

listen to it back I study a lot of like

01:59:15

International content um I'll I'll run

01:59:18

things past like I can I can tap into

01:59:20

rich listers and stuff which is pretty

01:59:21

cool just through networks I've built

01:59:22

through a horse racing space for

01:59:24

instance I have a pretty wide network of

01:59:26

people I'll go and test different

01:59:27

people's thoughts of how they will see

01:59:29

something um so I'm pretty lucky of the

01:59:31

network that I've been able to build up

01:59:34

it's funny CU I've done some um um some

01:59:37

some work doing some filming for

01:59:38

Generate kiwi saver and um you ask

01:59:40

people on the street that the the

01:59:41

majority of people that will just say

01:59:43

like like a mom or dad or an uncle even

01:59:46

even though their mom or dad or Uncle

01:59:47

may not be fantastic themselves it's

01:59:49

just like a I suppose the figure that

01:59:51

you trust the most most yeah and I guess

01:59:53

the right way to answer that question or

01:59:55

what I actually do now that just brain

01:59:57

has a bit more time I actually go and

01:59:59

ask people who have things that I want

02:00:02

so if they've achieved things that I

02:00:03

want so as an example even in business

02:00:05

if there's someone who's scaled multiple

02:00:06

accounting firms I want to have a coffee

02:00:08

with them because I want to figure out

02:00:09

how the [ __ ] did you do that man it's

02:00:10

taken us eight years to go from nothing

02:00:12

to to where we are now how did you do

02:00:13

multiple what do I need to learn and the

02:00:16

best thing you can do is reach out to

02:00:18

people that are way further down the

02:00:19

path from you and just say hey can I

02:00:21

please buy you lunch can I take you to

02:00:23

your favorite restaurant don't say do

02:00:24

you have time for a coffee busy people

02:00:27

don't have time for a coffee with a

02:00:28

random say you really intrigued me I

02:00:31

feel like I could learn so much from me

02:00:33

you're really inspirational to me can I

02:00:35

please shout you lunch or donate to your

02:00:36

favorite charity and steal an hour of

02:00:38

your time and basically tell them that

02:00:41

you know that they are valuable and

02:00:43

they'll be like oh [ __ ] okay this is

02:00:45

different to the other two messages I

02:00:47

could like that it plays to the ego a

02:00:48

little bit as well yeah 100% yeah um

02:00:51

what's something fun you can see

02:00:52

yourself doing in

02:00:54

retirement sometimes I visualize that

02:00:56

I'll just um I'll be retired right and

02:00:59

I'll get up I'll wand down I'll have a

02:01:00

PT I'll do some sort of half ass gym

02:01:03

session with them shoot the [ __ ] with

02:01:05

them I'll then Wander over to a cafe get

02:01:08

uh nice brecky I'll then you know have a

02:01:11

look at what's happening around the

02:01:12

world and then wander back to my desk

02:01:14

I'll have an hour call with someone

02:01:16

younger who I'm mentoring help them get

02:01:19

closer to their goals I can check in on

02:01:21

my port folio or whatever and go yep

02:01:23

sweet and then uh [ __ ] 3:00 p.m. better

02:01:26

go get some groceries and then get the

02:01:28

dinner ready sometimes I think like that

02:01:31

and then I'm like could I actually do

02:01:33

that yeah so I think I don't know just

02:01:35

like a simple life um where I'm doing

02:01:39

exactly what it is that I want to do but

02:01:41

at the same time I do a lot of things

02:01:43

now that I really like to do so almost

02:01:45

and some ways feel like I'm retired

02:01:48

compared to other times in my life where

02:01:50

I've had to do things I don't want to

02:01:52

do yeah I think that's the thing being

02:01:54

busy but doing exactly what you want to

02:01:56

be doing yeah what what what you

02:01:58

described before as your your visualize

02:02:00

retirement it sounds like Larry

02:02:01

Ellison's life in Hawaii okay yeah well

02:02:04

maybe I need to do it in Hawaii um if

02:02:06

you could pick anywhere to retire in New

02:02:08

Zealand where would it be and why well

02:02:11

I'm currently living in takapuna

02:02:12

takapuna and it's it's an amazing spot

02:02:15

um I'm sort of I'm not I'm thinking

02:02:18

Lakes maybe Queenstown but then I don't

02:02:20

actually know if I like the cold that's

02:02:22

a brilliant yeah brilliant country I I

02:02:24

really love the mount and I'm tempted to

02:02:26

go and live there and make that where I

02:02:28

build my life and create an next

02:02:30

advisory in Mount longoi for instance

02:02:31

and I would back myself to do it I think

02:02:33

it would be easier to build an

02:02:34

accounting practice with what I know now

02:02:36

in a region compared to a city city

02:02:38

you're just another accountant in a

02:02:40

region like oh [ __ ] it's that guy you

02:02:41

know we just saw him on social media we

02:02:42

just saw him at the beach uh so maybe

02:02:44

the mount yeah the mount Queenstown or

02:02:47

where I am at the moment and last one

02:02:49

what do you love most about being a kiwi

02:02:52

gez that's a really really good question

02:02:54

eh um you know New Zealand is a pretty

02:02:59

as much as people tell you it's not it's

02:03:01

still a place where you can you can get

02:03:03

ahead if you if you figure out how to do

02:03:06

it we a lot of us don't know house then

02:03:08

we don't believe that it's possible but

02:03:10

M I've I've been in [ __ ] private

02:03:12

helicopters like I come on your podcast

02:03:14

I listen to you on the radio when I was

02:03:16

a kid you know on 2xs for instance the

02:03:18

just the how accessible everyone is is

02:03:22

just phenomenal and I don't know if you

02:03:25

get that in other countries you know

02:03:27

I've got um one of the people who's

02:03:30

really had a lot of influence on my life

02:03:31

is su su leech the M butcher because um

02:03:36

because I saw him as someone who had

02:03:37

money and he was giving and he was doing

02:03:39

all this cool [ __ ] and people were you

02:03:41

know struggling after the Christ Church

02:03:42

earthquakes and he was flying them up to

02:03:44

his Lounge at the at Mount smart and I'm

02:03:47

like looking at this guy going W that's

02:03:48

the sort of dude I want to be like

02:03:50

that's unreal like how does he have

02:03:51

enough money to do that and and why does

02:03:53

he think like that and when I was broke

02:03:56

and went um house sitting on W hickey

02:03:58

Island when I had no money for rent and

02:04:01

but that was my way to decrease my

02:04:02

living costs I go house sitting with my

02:04:04

best mate uh the lady on the other end

02:04:06

of the phone said oh my neighbor's the

02:04:08

May butcher how the [ __ ] out of all the

02:04:11

people you could live next to for a

02:04:14

month do you end up being able to spend

02:04:16

it next to the May Butcher and he wasn't

02:04:19

there most of the time but he was there

02:04:21

for a weekend and we got to spend some

02:04:23

time together and have a yarn and and

02:04:24

like we I kind of knew him through dad

02:04:26

and through family

02:04:27

anyway but I bumped into that dude so

02:04:30

many times and now for bgp we we host

02:04:33

people each year in his old Lounge doing

02:04:37

what I grew up watching thinking [ __ ]

02:04:39

that's cool what he's able to do and now

02:04:41

we've done that for the last two years

02:04:43

like how does that how is that possible

02:04:45

how does that happen so I think what

02:04:47

it's taught me is if you really want

02:04:50

something in this country and if you can

02:04:52

get clear on what that is and if you

02:04:54

just keep that close to you and you

02:04:55

slowly take action it starts happening

02:04:58

and you don't even know how to explain

02:05:00

it anymore as to how that does happen

02:05:03

but it does and then the more the stuff

02:05:06

happens you realize like [ __ ] I have to

02:05:08

be really careful of what I think about

02:05:10

and whether that be good or bad or what

02:05:13

I want you know in my life because maybe

02:05:16

just maybe it is possible but all the

02:05:19

narrative out there at the moment is

02:05:20

things aren't possible possible and if I

02:05:22

could leave with one thing on that is I

02:05:25

was going to play I was playing with the

02:05:26

word hope like what is Hope and I think

02:05:29

for all of us it's help other people eat

02:05:33

or help other people Excel if we can

02:05:36

challenge ourselves to uh help other

02:05:39

people exist or do something eat exist

02:05:42

exist Excel exercise like whatever it is

02:05:45

if you can help other people your life

02:05:47

will get better and this is a country

02:05:49

where a lot of people need a lot of help

02:05:51

and there's a a lot of helpful people

02:05:53

trying to help other people and you will

02:05:56

be rewarded for

02:05:57

it great place to end it Luke kimy 2our

02:06:01

six sorry mate looked down at the

02:06:03

roadcast pro um so enjoyable mate wow it

02:06:07

doesn't feel like 2 hours six definitely

02:06:09

get you back honestly there was um I

02:06:11

skipped through a bunch of questions

02:06:13

from Instagram um people are so

02:06:15

intrigued about money aren't they they

02:06:17

are mate they are and just I think other

02:06:19

people's stories and you know credit to

02:06:20

you you know I listen to I was up at

02:06:22

Omaha house sitting I now I have the

02:06:23

keys to someone's place that I used to

02:06:25

house sit for it's free I used to dream

02:06:26

of having a beach house and wanting to

02:06:28

you know that's a goal do they know you

02:06:30

there or you got the numb the cut a key

02:06:32

yeah here you go have it when we're away

02:06:34

unbelievable um but I was there and I

02:06:36

was listening to your podcast about the

02:06:38

bloke who went into the 27 you know and

02:06:41

oh the same CL Sam yeah just phenomenal

02:06:43

story you know interesting dude and

02:06:45

think of the people that that he'll be

02:06:47

helping who listen to that and you know

02:06:49

there's it's amazing to see so many

02:06:51

people having their stories tell told

02:06:53

through avenues like this so you know

02:06:55

big respect I'm trying to do my thing

02:06:56

over in the money space but you know

02:06:58

you're doing massively important work as

02:07:00

well how good and we're both from the

02:07:02

Mighty Men too what a

02:07:04

place hey cheers luk appreciate it mate

02:07:07

no worries

Words per Minute Over Time