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
