I’ve just turned 30. This is what I know to be true about money and life

My very own pic of a sunset in Hawaii. I’ve been a few times and definitely recommend you check it out!


Preface – I’ve started, acquired and sold a number of online businesses. I sit on a board of directors, advise to a number of businesses, provide one on one financial consultation to clients and am actually tertiary qualified in finance. This is a bit about what I’ve learnt so far.


On Life

Indulge yourself for a minute. I want you to image that it has finally happened. You stare at your phone in disbelief. Reading those numbers over and over again in absolute shock. Your bank balance reads $100,000,000. $100 million fucking dollars!

You stare off blankly as a cheeky grin overtakes your face because you have just realised that you no longer have to work. Ever. Again. Neither does your partner. 

All these ideas start flooding your mind. Some have been merely daydreams for years but can now become a reality. You can buy the F.U mansion. The Tuscan holiday house. The epic beach house. And the boat. Pfft boat? Yatch!

You can now get a freakin yatch! Your family will never go without again. You can travel the world in style staying at 5 star hotels and eating at only the best Michelin hatted restaurants!

But of course you will invest some of it. After all you don’t want to go back to how things were. You are so done with that life.

After 2 years of living this lavish lifestyle you sit back in your very expensive lounge in your very expensive house. Running your eyes over your bank balance it now reads $65,000,000. Still more than enough to fund the lifestyle you want.

The house is quiet. The kids are at school. Because even when you’re a multi-millionaire children still need an education. You could organise a social event at your favourite eatery but you’ve done that 3 times this week already.

You could have another date with your partner but you’ve had so many lunches/dinners that you can’t generate conversation because you have literally spent the last 24 months together. You’ve seen the world, you’ve lived the life and you now sit in an empty house thinking to yourself. Now what?

What would you do in this situation? You’ve done everything that you’ve ever dreamed about and then some. I’ve been both with and without money

‘The pursuit of finance is empty at best and hollow at worst.’ Jack Delosa

Whatever your spiritual belief is or the higher power that you acknowledge I believe that true happiness in life comes down to just 2 things. The first is contributing to something bigger than yourself and the second is spending time with family and friends.

Contributing to something bigger than yourself is one of the best motivators in the world. It gives you a sense of belonging, a purpose and drive to get out of bed each day and face this sometimes unforgiving world.

Ever notice how you struggle to get out of bed early in the morning to get in that before work gym session? That’s because it is purely selfish. It’s only about YOU improving YOURself and as humans we are quite happy to ‘reschedule’ on ourselves.

But notice that if we tell a friend that we will meet them at the gym at 5.30am that we are more likely to go? Especially if it’s a friend that needs to be fitter. We don’t want to let them down and because we are now looking beyond ourselves.

Your something bigger can literally be anything.  Family, community, sports team, business or charity are all very popular choices that see people develop a relentless drive. Ever wonder why Warren Buffet still works in his 80s? He had more than enough money to retire 30 years ago. I encourage you to find your something bigger.

It can be something small, something huge or a number of different things. You’ll know when you’ve found it because it wont feel like work and you’ll have this desire to be around it 24/7.

Spending time with family and friends is obvious and hopefully something that you’ve already worked out. This is because your oxytocin (bonding hormone) experiences higher levels with human contact particular with people we like. And it has to be face to face contact.

A result of a stimulating conversation with people you like is an increase in dopamine (reward function). So when you are feeling isolated and a little down, human contact with family and friends can literally turn your day/life around!

On Money

I’ve been with and without money and I can tell you that having money is easier. Of course it doesn’t buy you happiness and I’m pretty sure that in the history of the world no one has ever said that it would.

It just so happens that most people with money also have mastered my two points from above. Having money can be seen as the cherry on the top. Of course money without the first two points is where the loneliness is found.

It all starts with income. In order to win the game you need to know the rules. Banks love income. The reason you need to impress banks is because they will be lending you cash for your home and other investments. With this in mind you need multiple income streams to improve your position.

The average number of income streams a millionaire has is six. Aiming for this is probably a good starting point. To start with you may only be able to sell your time for money. If time is all you can afford then time is what you need to trade.

Think about another job or doing Uber driving on the weekend to improve your position. The entire purpose of boosting your income is so you can increase your investments. The reason for investing is to provide an income stream so you no longer have to trade your time for money. 

Trading time for money alone should not be a long term trade. However that trade can be sweeter if you happened to love what you do. Ie it fits your life’s purpose.

In terms of managing your money there are literally a hundred different ways you can do this. Purely from a financial point of view it is better to pay down debt with the highest interest rate first. This is usually the smallest and obtained via credit or store cards.

But as we are humans doing things purely on a mathematical basis will rarely satisfy our needs. I much prefer the following approach

Allocate 10% on savings. And save to invest! Pay yourself first

Donate 5% to charity. Build the karma economy and feel good spirit in the world

Have 5% go to your WTF fund. Life can be brutal and at times you will need to use it.

Allocate 20% to paying down your debt.

The remaining 60% is what you live off. 

Why this works? It gives you a psychological edge. For most people restricting themselves and just paying down debt offers little reward but gives you plenty of restrictions. What sounds better after 2 years of implementing your new budget?

1.       $0 in savings and $0 in debt? OR

2.       $5,000 in savings and $5,000 in debt?

Like I said from a mathematical point of view paying down debt is better. But from a consumer behaviour point of view spreading the funds are going to work for you.

In addition to the above automating your money is also very effective. Utilise direct debit facilities so all your expenses and investment are met before it hits your everyday bank account. I’ll be putting together an extensive piece on this in the coming weeks.

You also need to build you’re A team. You’re a team are people like accountants, solicitors and planners that know the finer details of the game. They understand companies, trusts and how to maximise your position. 




Key Take Away Points

Contribute to something bigger than yourself

Identify your life’s purpose

Family and friends are good for your soul

Income is everything

Find a money allocations system that works for you

Automate your finances

Build an A-Team






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