I’m a NZ born Samoan and I work a 9-5. I have invested in silver and gold. I want to leave something behind for my child when I’m gone and precious metals is the way to go for me. Been going 6yrs strong now.
Wife and I are absolutely LOVING this content mate! Thanks for what you're putting out there! Great perspectives, really making us think about how we move forward!
Absolutely great attitude to life mate. My partner and I have just come to this realised this realisation and are earning 5x more than we were working in our full time job with our business solving people problems when growing their business. Then are investing money into make our money work for us. Game changing. Great vid
ive just realised ive been adding value to the company i work at for free. thanks this will make me re-think how i approach changes that arent rewarding me specifically
Good word brother, NZ is a gold mine. Our country has so much growth potential it is just waiting for people to get off there backsides to serve others to bring about the growth. It could be as easy as replicating a successful overseas business that hasn't set up in NZ yet as we are often behind on a world scale. If all people want is a higher hourly rate they will never find the gold that this country is sitting on which no one is digging for as they are stuck in the 9-5 mindset.
@@geotruthnz7013 good energy. That’s a good way to put it when searching for a higher hourly rate you’re missing all the other opportunities out there! 💡
That's a good point because there's no point in buying a property, selling it in X years' time for having paid off the loan through your rent/tenants and your income, only to realize that the interest you paid on the loan, along with the rates and general maintenance costs, accounting for inflation that although on paper you sold it for a higher value than you bought it for, the total "increase" isn't nearly as much as you thought it was.
I'm 53. I retired 5 years ago. In my 53 years here on earth I have seen countless guys like this chap full of advice and motivation (usually to serve their own agenda) and there have always been no shortage of gullible, hopeful people that enthusiastically follow them. It's all good and I commend this young Kiwi bloke for having a crack. My advice buy Bitcoin. It has outperformed every other investment over the past 5 years with an average return of 55% pa. If you don't have any money just buy whatever you can every week - just like adding savings in a bank account. Have a 4 - 8 year plan and you will be wealthy. It's so simple but 99% of people don't have the discipline or patience to do it.
@KiKi-te9yd I left a corporate job I hated 20 years ago and took a huge risk buying old houses in rural Victoria and renovating them to sell. It was extremely difficult (nothing like the bullshit reno shows online/TV) but I was able to make some good money. I then discovered Bitcoin in 2015 but didn't understand it. In late 2017 I suddenly realised that government money printing and inflation was working against me and the penny dropped about Bitcoin. I took another massive risk, sold my properties and put it all into Bitcoin and XRP (I became obsessed with learning everything I could about these 2 digital assets). XRP is a long term investment and Bitcoin has returned on average 55% per year - better than any other asset on earth - you just have to be able to stomach the volatility. Most people don't have the stomach or the patience - that's why they fail, that's why they remain a poor slave to the system.
@@keepthechangenz I spend a fair amount of my time on holidays/travelling and dabble in selling second hand goods just as a hobby to feed my dopamine (I get a buzz out of selling/doing deals). I also make diet and exercise a high priority. I got off the piss 10 years ago - that was when my wealth and health really took off. All the best mate 👍
. BTC will pay you back with incredible gains over time. You just need the discipline to leave it alone through all the up and down cycles .Buy and hold is the way to go.
One of the key problems in the housing market is that many homes are priced well above their actual value, with Auckland being a prime example. If you bought a mediocre property 20-30 years ago, it's now valued at an absurdly high profit margin. However, buying a home now means paying $500-700k above its realistic value, banking on inflated prices to continue. Many homeowners rely on this unsustainable growth to make a profit, but without significant reinvestment in these properties, their value won't rise much further because they're already competing in a hyper-inflated market. This means buyers are essentially at a loss from the start, having paid far more than the property is worth. For example, a home that originally cost $200k to build might now cost $600k due to inflation, but with inflated prices, it's selling for $1.2m. That extra $600k is purely a product of the inflated market, not real value. People are banking on the hope that prices will keep rising, so they can sell for $1.8m or even $2.4m in the future. But if more homes are built or buyers' ability to secure loans decreases, the bubble bursts. As nations combat inflation, prices typically don’t deflate, but wages increase, balancing affordability over time. For example, a 50-cent ice cream at McDonald’s in 2004 now costs $2-3, but with wage increases, that $2-3 is equivalent to what 50 cents was back then. Similarly, housing prices will eventually stabilize to match their actual value, adjusted for inflation. When this happens, those who bought during peak inflation will likely take a loss because they paid far more than the property was worth. In the best-case scenario, housing prices correct themselves. In the worst-case scenario, inflation continues to climb, homes become unattainable money pits, loans dry up, and rents skyrocket. This could force people to relocate to more affordable areas or even overseas, leaving a stagnant housing market where neither buyers nor sellers profit.
It took me 20yrs of persistence, developing and reinvesting back into my business for me to be more than comfortable. Your mindset changes from a buyer of junk to an investor whom buys something with a return. The snowball effect of creating wealth doesn't happen over a few years. It takes decades of attitude change and perseverance. At 62, I doubt I will ever stop investing and looking for a ROI.
Your "own" dream is dictated to you by your surroundings and your definition of success is not original, how is that your own way ? Sucess in the system could mean you sell natural gas to the govt who have started buying it in bulk, in the winter of 1943 and you live in a European country, starting with the letter G.
For many kiwis working a 9-5 job and saving and investing into stocks or real estate is the reality because not everyone can do what you’re doing. And that’s ok. We still need farmers, teachers and plumbers. Your message is aspirational and I admire your thinking and the wealth journey you’re on. But know it’s not for everyone. That’s not small thinking that’s just me acknowledging those who earn an honest living working a ‘normal’ 9-5 job.
That's what he's explaining? Although you say "not everyone can do it" ofcourse they can, anyone can, New Zealand restrictive mindset is what he's talking about, buy a house, climb the career ladder, follow the path you are taught
@ of course they can. But a lot won’t or they don’t follow the same path cos it’s not for everyone and that’s ok too. Just saying. There are a lot of ways to build wealth and still working a normal 9-5 job is one of those ways. May not be the ‘best’ or ‘fastest’ according to some, but it’s possible too for a lot kiwis who work a normal 9-5. Like me.
This is correct. We can't have a society of just business owners we also need workers. Remember too that the majority of new businesses fail. There's a survivorship bias when a wealthy businessman tells you how to get rich. For every successful business man there could be another four who failed. On the other hand, I've never met a single person who lost money investing in index funds A great example is my boss. He's in his 70s and still works crazy long hours running his multiple businesses. However, after doing this for 40+ years his net worth is still only about 4 million. I'm in my mid 20s and have about 300k in index funds. give me 45 years to compound and I should be worth closer to 40 million by the time I'm 70. And that's without working any overtime and mostly just enjoying my stress free work
@hugobeumelburg9697 your explanation is exactly what he is offering. He is saying there is more opportunity to make wealth that doesn't involve the career path or owning a single home that we are taught in school. You've just proven the videos point whilst arguing it
@banksy1311 he's not offering it to the masses of NZ, he is offering a different viewpoint to his viewers who are seeking wealth options outside the norm
It's funny how badmy we used to get mocked at school or university for being raise Christian in the Church. But this guy when he said be careful what you put in your brain, mouth, got hammered into us weekly.
If you are not happy with your wages set up your own business and pay yourself more. It's very simple, but why should we expect someone else to do it for us.
@@geotruthnz7013 im very happy, work for a Aussie company. Point is, NZ would do better across the board. Also your point around have your own business is a pipedream, most Mum Dad companies struggle to get by in NZ.
@@jakichan4 Other than the last year or so which has been tough on most people I normally meet people most days that have done well in NZ owning there own business. Unfortunately young Kiwi's have lost the spirit of entrepreneurship which is needed to get out of the wages mentality and discover what else is possible. Also Aussie companies are proven not to care much for us in NZ so charge us more on average than Aussies so I wouldn't trust them to govern our country.
I've also come to the realization that New Zealand's baseline ideologies for wealth generation is so backwards. Such a massive amount of the New Zealand people's capital is in property... Our GDP numbers are inflated by a Ponzi scheme. "Get on the property ladder while you can". Like you say, this might be the laziest possible way of creating wealth. Just buy and wait and you will get rich. imagine if instead, capital was invested in businesses that were actually adding value to the country? Healthcare, Education, Transport, Emerging Technologies. The economy would flourish and we wouldn't be losing hundreds of thousands to Australia. Many of my friends have upped and left and I can't help but feel the itch to leave as well. Boomer property mentality needs to be eradicated.
Kiwi love property as it has been such a good way to leverage off of equity gains they mostly haven't generated (via time in the market) but there are many more ways to make more $$ in NZ than waiting for your house price to rise.
Love how passionate you are about educating people on their mindset to achieve better financial outcomes… wonder if there would be some content on investment and business ideas? Do you think it’s easier to buy an existing business than starting from scratch? Thanks!
Heaps of time to go. I was in my late 20's before realising it properly but didn't really GET it until my 30's. I probably should have known better given I studied business from 17 haha! But hey gotta go through the lessons
Yup smart guy, thats a great niche, so many people and companies get tunnel visioned and need a guy like you. I set myself up with the tradition assetts you mention but if i was a young guy like you i'd be doing the same. Luv your content.
Cheers. Nice work on your journey! Plenty of ways to do it! I wonder if we are in more of an income season rather than an asset season. Where focussing on income is going to be important.
I see his point of view, and I would say it is not as black and white. Many factors contribute to financial success in NZ; individual determination is one aspect of many. However, many drives to success come from higher social mobility and socioeconomic status, as well as your upbringing, education, personality, kindness, and supporting figures. Many people add value to this world without trying to profit. You can be clever and snowball your income, find ways to earn more and think lateral, but many believe in a linear process, especially those who don’t like to be outspoken or take greater risks, which is fine too. It is a personal preference. Money is also one aspect that defines a rich life. With less I and more we, success can be a shared experience.
Its like buying a car, driving it for 10 years then selling it at twice the price. makes no sense why house prices go up when the practical value has gone down. over priced junk that traps you in the rat race with the thought that your getting wealthy when in reality your not once you consider interest, the amount of money leaving your pocket each week, the illiquidity of the asset and the value of every other home has gone up so when you sell for a profit you cant buy anything of greater value. not interested....
It’s not like buying a car with a depreciable asset. Poor example. If it’s not for you that’s fine but it does make sense if you take the time to understand.
Loving the content Luke!! What would you say for the students out there. I’m a nineteen year old studying radiography and knew the pros and cons of taking up study. I know that success is related to your own personal goals, with mine at the moment being completing this degree where I can then make a positive impact in the health sector. In terms of money though, are there things that you see as being beneficial financially while studying? I have done some jobs in my breaks, trying to increase my own value, but to be honest this is just to pay for life and the course. Any tips? Cheers
This is cool bro I'm been forestry pruning for most of my life. I always wanted to be my own boss, build an empire, and I'm just not good with taxes and receipts and getting contracts. I have never figured out how ,I need a financial adviser or adviser or something I'm willing to put in the hard yards just feels impossible on my own I live in Dunedin by myself the closes family I have live in whangarei and they are not rich or financially competent, any advice on how I should start my plans I got so many dreams and goals I don't want anything just want to be successful so I can one day take care of my 5 kids and my girlfriend who lives in China an can't come to new Zealand for about 5 more years cause she got blacklisted.
Check out HNRY they sort all your taxes as a sole trader. But building and empire you may need a company and therefore an accountant. If you want it bad enough gotta put in the mahi to learn. But people will help you. Taxes etc will be the last of your worries when building and empire haha!
See my video on going from credit card debt to $1,000,000. Best NZ mentors - just find people who have done things you want to do or achieved things you want to achieve, keep it simple.
Let me acknowledge that you are on a good path. But as someone who has made money here and in South Africa, it is much easier to make money in SA. I have doubled my money on stocks in 3 months, and buying and selling, I have doubled it in 2 hours. There are so many ways to make money in SA, even working, at one time I had a business and three jobs, and worked 8 hours seven days a week. The biggest drawback here is that you are Taxed too heavily to run a small business profitably, this is not my conclusion, but the conclusion of small business owners who all dodge taxes. That you were in the business of helping them dodge Tax, should help you understand. My own opinion is they are all crooks, which was not generally true in SA, as you can easily not pay any Tax until you are usefully profitable. Here you are hounded by the IRD, even when you are honest, and persecuted for your 1% failure. About TV and screen time, it is not that you watch, it is what you spend time watching. Your channel should be watched, as you are correct to invest in other people. Sadly it is not an option for most.
What about those people watching this youtube video on their smart TV haha nah just kidding, good video mate. adding value, investing into yourself to create better leverage skills you can get more out of what you do, great video
Nice content. I think it would be good to upscale it a bit and leave the bro type talk out so it comes across more professional and has a better reach.
As long as you understand all money is bank debt and you holding it means someone else is paying interest on it. If all new money or wage increases mean new debt mist be entered into and this is only based on growth, in a world of 23 countries going to lose half their populations over the next 80 years how does your opinion of getting more money work in that situation? Edit By asking for more money in the world you are asking for more debt and interest paid, why is this a plan moving forward?
@@keepthechangenz Money is one side of a ledger, the debt exists on the other. If all debt were paid back there would be no money in existence. Your whole life revolves around this money/debt and how it enters society and all you care about is "gettin some"? The main problem with society is they don't understand money and you say " don't worry about it until you get a lot" Seriously, shouldn't you at least know how money is created before you tell people how to get it, if it's not to educate with this channel and you are ignorant of it, why should people listen if all it is in your mind is just a means of transaction and you don't look at the overall system?
That would take quite a big portion of my brain which is already deployed on other things ... between work and downtime. For some reason wealth doesn't interest me like the challenges I face at work and in Call of Duty.
Hasn’t the nz property market crashed. Did nz property drop in price about 7% after the GFC and about 20% drop in the 80s and isn’t Wellington more than 20% drops and Auckland close . So nz is basically in its biggest downturn in property EVER. Yet no one in nz media saying the word crash. You can look at about any stocks gains over the last 20 years on a graph and most of them cruise along to when the pandemic hit where governments and central banks went insane saving businesses and jobs with a off shoot to that in 2 years approximately assets prices around the world skyrocketed 40 plus percent. Now thats insane. No body from 2020 to 2022 had the brains to benefit in assets over this period, it was government made and any idiot could of done it. Actually any idiot could of made good money in assets around the world after the GFC to the pandemic, because most countries held there cash rates ( OCR ) unusual low for this period. In NZs stupid case there OCR in 2008 was 8.25% , they crashed it to 2.5% in 2009 and carried on lowering it to 1% by 2019. A year before the pandemic. How’s that for promoting property prices, and a housing boom inbetween that period around 2015. So in 2015 /17 nz had a housing boom with a OCR of 2.5% and going to 1% but in a housing boom from 2005 to 2008 they INCREASED the OCR to 8.25% . Now to my point. Assets prices are through the roof with high debt because borrowing money at the time was extremely low. Historically interest rates aren’t high. Mortgage rates might get to the high 4 and many mortgage holders have still got increases in super low fixed rates to come even if rates came down to 5%. In 2019 nz was slowing even with extremely low rates and property prices 40% lower than now. I would be very careful right now. The world isn’t over the pandemic in fact it hasn’t even started paying for it. BUT i guess governments could of done nothing in 2020 but assets prices would of crashed 50% then. We are at 40% plus from the pandemic at the moment and dropping. But for how long. A lot of inexperienced people have gotten into stocks over the pandemic period thinking they are master minds when anyone with half a brain made money. Everyone should know Warren Buffett , greatest financial wizard of all time. He’s approximately 60% cashed up at the moment, $325 BILLION in cash . WAITING. The newbies own stocks in NASDAQ
@@brett7989 Shesh a lot of thought here! How much further do you see property crashing? Property articles sell a lot of advertising and hope so I don’t think they would use the word crash lightly 😅
@ i made a lot of spelling mistakes. Sorry I fixed it up. Nz was putting a lot of hope in nz prices with the new government. Nothing happened there. The new hope is interest rates coming down. Normally mortgage rates are around 4.5 to 5% . The pandemic period was a extreme period. Mortgages in the high 4s won’t stop house prices dropping. Prices are simply to high and stock levels for sale are through the roof with extremely low demand. Sales are terrible and what sales there are are a few expensive houses why’ll average home and apartments and townhouses are doing extremely badly. On top of all that many have lost a lot of equity. Equity is the driver to invest more or upsize that house. What a lot forget is you need 2 things to buy a house, means to pay your monthly payments and a deposit. Now here’s the truth about nz that nobody talks about. Nz 2019, house prices were 40% lower than there 2022 peak. The OCR was 1% , ONLY •75% higher than 2020/21 . Why weren’t people buying crazy. Because they had means to pay but not enough equity. Then the pandemic hits . Who cares about the RBNZ dropping to •25% . It’s dropping LVRS that got the property market booming. Basically this happened. I have a investment property worth $1 million. My LVR is 60% pre pandemic. So $400000 equity. Im not allowed any less. Pandemic hits . I now only need $200000 equity. I have 100% to much equity. So for every house i own i can buy another. So 10 properties go to 20. And interest rates are massively in my favour too. So investors went crazy and everyone else to keep up. But here the problem. Investors maxed out their equity with 20% equity. That was put back up plus property prices have dropped 20% . That’s extremely bad. Even if LVR were dropped it wouldn’t make any difference because most investors brought at 80% LVRS anyway and there properties are down 20% + as well. Plus how many mortgage holders are on fixed at 2.9% to 4% waiting for a massive increase. My guess is all the smaller cities and towns in nz are still waiting for massive drops. These people were pushed out of Auckland in mass and pushed into little towns. Little towns generally have little demand without a striving Auckland. With Auckland little towns are stuffed. And personally that was a once in a lifetime with the pandemic. Little towns also benefited more than normal over the Auckland boom of 2012 to 2017. When the ocr was heading to 1% and the rbnz was stuffing around with LVRS. People need to wake up. All this without a GFC2 ( global recession) which is very much on the cards. O sorry there’s trump. Thing’ll b fine Ps , there could be a short sweet spot with interest rates dropping but I doubt it will last. Remember right now is worse than the QE pandemic and 2019
Naah G I am fine I need somewhere to put the mic G. What's up with all the people who comment on how people should or shouldn't dress or look G. Buzzy G. Go hard!
@@keepthechangenzNah clowning on the bro is wrong, tidy that up. Money talks, wealth whispers. Keep up the hustle but don't forget to park your boyfriends swift on a safe street.
I’m a NZ born Samoan and I work a 9-5. I have invested in silver and gold. I want to leave something behind for my child when I’m gone and precious metals is the way to go for me. Been going 6yrs strong now.
Good on you legend! Nice work
Wife and I are absolutely LOVING this content mate! Thanks for what you're putting out there! Great perspectives, really making us think about how we move forward!
Awesome to hear. I will try keep them coming. Drop any suggestions below and I will try do my take on it.
I'm digging the cut throat no bs approach.
I like to keep it raw and simple. Cheers
@@keepthechangenz no diddy
Absolutely great attitude to life mate. My partner and I have just come to this realised this realisation and are earning 5x more than we were working in our full time job with our business solving people problems when growing their business. Then are investing money into make our money work for us.
Game changing.
Great vid
ive just realised ive been adding value to the company i work at for free. thanks this will make me re-think how i approach changes that arent rewarding me specifically
A good way to get a pay rise - by finding ways to add value to your employer.
Good word brother, NZ is a gold mine. Our country has so much growth potential it is just waiting for people to get off there backsides to serve others to bring about the growth. It could be as easy as replicating a successful overseas business that hasn't set up in NZ yet as we are often behind on a world scale. If all people want is a higher hourly rate they will never find the gold that this country is sitting on which no one is digging for as they are stuck in the 9-5 mindset.
@@geotruthnz7013 good energy. That’s a good way to put it when searching for a higher hourly rate you’re missing all the other opportunities out there! 💡
That's a good point because there's no point in buying a property, selling it in X years' time for having paid off the loan through your rent/tenants and your income, only to realize that the interest you paid on the loan, along with the rates and general maintenance costs, accounting for inflation that although on paper you sold it for a higher value than you bought it for, the total "increase" isn't nearly as much as you thought it was.
I'm 53. I retired 5 years ago. In my 53 years here on earth I have seen countless guys like this chap full of advice and motivation (usually to serve their own agenda) and there have always been no shortage of gullible, hopeful people that enthusiastically follow them. It's all good and I commend this young Kiwi bloke for having a crack. My advice buy Bitcoin. It has outperformed every other investment over the past 5 years with an average return of 55% pa. If you don't have any money just buy whatever you can every week - just like adding savings in a bank account. Have a 4 - 8 year plan and you will be wealthy. It's so simple but 99% of people don't have the discipline or patience to do it.
@@ScanLinkV good skills mate. What do you do in your retirement?
How did you fund your early retirement then sir 53yo?
Plenty of people who don't do well at bitcoin, it is a gamble.
@KiKi-te9yd I left a corporate job I hated 20 years ago and took a huge risk buying old houses in rural Victoria and renovating them to sell. It was extremely difficult (nothing like the bullshit reno shows online/TV) but I was able to make some good money. I then discovered Bitcoin in 2015 but didn't understand it. In late 2017 I suddenly realised that government money printing and inflation was working against me and the penny dropped about Bitcoin. I took another massive risk, sold my properties and put it all into Bitcoin and XRP (I became obsessed with learning everything I could about these 2 digital assets). XRP is a long term investment and Bitcoin has returned on average 55% per year - better than any other asset on earth - you just have to be able to stomach the volatility. Most people don't have the stomach or the patience - that's why they fail, that's why they remain a poor slave to the system.
@@keepthechangenz I spend a fair amount of my time on holidays/travelling and dabble in selling second hand goods just as a hobby to feed my dopamine (I get a buzz out of selling/doing deals). I also make diet and exercise a high priority. I got off the piss 10 years ago - that was when my wealth and health really took off. All the best mate 👍
. BTC will pay you back with incredible gains over time. You just need the discipline to leave it alone through all the up and down cycles .Buy and hold is the way to go.
One of the key problems in the housing market is that many homes are priced well above their actual value, with Auckland being a prime example. If you bought a mediocre property 20-30 years ago, it's now valued at an absurdly high profit margin.
However, buying a home now means paying $500-700k above its realistic value, banking on inflated prices to continue. Many homeowners rely on this unsustainable growth to make a profit, but without significant reinvestment in these properties, their value won't rise much further because they're already competing in a hyper-inflated market.
This means buyers are essentially at a loss from the start, having paid far more than the property is worth. For example, a home that originally cost $200k to build might now cost $600k due to inflation, but with inflated prices, it's selling for $1.2m. That extra $600k is purely a product of the inflated market, not real value.
People are banking on the hope that prices will keep rising, so they can sell for $1.8m or even $2.4m in the future. But if more homes are built or buyers' ability to secure loans decreases, the bubble bursts. As nations combat inflation, prices typically don’t deflate, but wages increase, balancing affordability over time.
For example, a 50-cent ice cream at McDonald’s in 2004 now costs $2-3, but with wage increases, that $2-3 is equivalent to what 50 cents was back then. Similarly, housing prices will eventually stabilize to match their actual value, adjusted for inflation. When this happens, those who bought during peak inflation will likely take a loss because they paid far more than the property was worth.
In the best-case scenario, housing prices correct themselves. In the worst-case scenario, inflation continues to climb, homes become unattainable money pits, loans dry up, and rents skyrocket. This could force people to relocate to more affordable areas or even overseas, leaving a stagnant housing market where neither buyers nor sellers profit.
Just found your channel ! Listened to a couple vids today. Love your style mate. Thanks
You're welcome. Cheers
It took me 20yrs of persistence, developing and reinvesting back into my business for me to be more than comfortable.
Your mindset changes from a buyer of junk to an investor whom buys something with a return.
The snowball effect of creating wealth doesn't happen over a few years. It takes decades of attitude change and perseverance.
At 62, I doubt I will ever stop investing and looking for a ROI.
I did a video trying to explain this that is scheduled to come out. You nailed it in one comment haha! It's a huge change hey!
I invest and have rentals and both work in their own unique way, I invest in my own dreams and not other peoples.
@@NZer-t2i good skills 👌🏻
Your "own" dream is dictated to you by your surroundings and your definition of success is not original, how is that your own way ? Sucess in the system could mean you sell natural gas to the govt who have started buying it in bulk, in the winter of 1943 and you live in a European country, starting with the letter G.
Serve and add value.. sweater around the neck bro is legit 🤙🏾
Serving for the win!
Hey bro, this is great content and giving me lots to think about how I can do better with my time. Thanks and I look forward to seeing more.
Good on you. Glad it got you thinking! Go well.
For many kiwis working a 9-5 job and saving and investing into stocks or real estate is the reality because not everyone can do what you’re doing. And that’s ok. We still need farmers, teachers and plumbers. Your message is aspirational and I admire your thinking and the wealth journey you’re on. But know it’s not for everyone. That’s not small thinking that’s just me acknowledging those who earn an honest living working a ‘normal’ 9-5 job.
That's what he's explaining? Although you say "not everyone can do it" ofcourse they can, anyone can, New Zealand restrictive mindset is what he's talking about, buy a house, climb the career ladder, follow the path you are taught
@ of course they can. But a lot won’t or they don’t follow the same path cos it’s not for everyone and that’s ok too. Just saying. There are a lot of ways to build wealth and still working a normal 9-5 job is one of those ways. May not be the ‘best’ or ‘fastest’ according to some, but it’s possible too for a lot kiwis who work a normal 9-5. Like me.
This is correct. We can't have a society of just business owners we also need workers. Remember too that the majority of new businesses fail. There's a survivorship bias when a wealthy businessman tells you how to get rich. For every successful business man there could be another four who failed. On the other hand, I've never met a single person who lost money investing in index funds
A great example is my boss. He's in his 70s and still works crazy long hours running his multiple businesses. However, after doing this for 40+ years his net worth is still only about 4 million. I'm in my mid 20s and have about 300k in index funds. give me 45 years to compound and I should be worth closer to 40 million by the time I'm 70. And that's without working any overtime and mostly just enjoying my stress free work
@hugobeumelburg9697 your explanation is exactly what he is offering. He is saying there is more opportunity to make wealth that doesn't involve the career path or owning a single home that we are taught in school. You've just proven the videos point whilst arguing it
@banksy1311 he's not offering it to the masses of NZ, he is offering a different viewpoint to his viewers who are seeking wealth options outside the norm
It's funny how badmy we used to get mocked at school or university for being raise Christian in the Church. But this guy when he said be careful what you put in your brain, mouth, got hammered into us weekly.
NZers just dont get paid enough, we should become a state of Aussie will help both countries.
@@jakichan4 might be why so many people move there 🥴😵💫
@keepthechangenz That and weather. Won't need a passport soon to go between both countries, I think next year that changes.
If you are not happy with your wages set up your own business and pay yourself more. It's very simple, but why should we expect someone else to do it for us.
@@geotruthnz7013 im very happy, work for a Aussie company. Point is, NZ would do better across the board. Also your point around have your own business is a pipedream, most Mum Dad companies struggle to get by in NZ.
@@jakichan4 Other than the last year or so which has been tough on most people I normally meet people most days that have done well in NZ owning there own business. Unfortunately young Kiwi's have lost the spirit of entrepreneurship which is needed to get out of the wages mentality and discover what else is possible. Also Aussie companies are proven not to care much for us in NZ so charge us more on average than Aussies so I wouldn't trust them to govern our country.
I've also come to the realization that New Zealand's baseline ideologies for wealth generation is so backwards. Such a massive amount of the New Zealand people's capital is in property... Our GDP numbers are inflated by a Ponzi scheme. "Get on the property ladder while you can". Like you say, this might be the laziest possible way of creating wealth. Just buy and wait and you will get rich. imagine if instead, capital was invested in businesses that were actually adding value to the country? Healthcare, Education, Transport, Emerging Technologies. The economy would flourish and we wouldn't be losing hundreds of thousands to Australia. Many of my friends have upped and left and I can't help but feel the itch to leave as well. Boomer property mentality needs to be eradicated.
Kiwi love property as it has been such a good way to leverage off of equity gains they mostly haven't generated (via time in the market) but there are many more ways to make more $$ in NZ than waiting for your house price to rise.
Love how passionate you are about educating people on their mindset to achieve better financial outcomes… wonder if there would be some content on investment and business ideas? Do you think it’s easier to buy an existing business than starting from scratch? Thanks!
@@nataliejin2119 Thanks a lot. Couple of podcasts deeper in the catalogue re buying a business if you have a search
Yes agree 100% and wish I'd learnt this at a younger age... in my 50s now. But never too late. Great video.
Heaps of time to go. I was in my late 20's before realising it properly but didn't really GET it until my 30's. I probably should have known better given I studied business from 17 haha! But hey gotta go through the lessons
All your videos are excellent, but this one summarized everything you have been saying into the perfect sandwich. Great work!
Yeah I did think this one should tie a lot together haha. Few more good ones coming. Stay tuned.
One of the greatest videos you have put out thank you for doing so!!
Much appreciated. Good to get people thinking!
I’ve replaced my morning jams with this audio 😅 Thanks Luke for the reality check👏🏾
@@maureenbentley7749 how good haha! Welcome 🙏🏻
Yup smart guy, thats a great niche, so many people and companies get tunnel visioned and need a guy like you. I set myself up with the tradition assetts you mention but if i was a young guy like you i'd be doing the same. Luv your content.
Cheers. Nice work on your journey! Plenty of ways to do it! I wonder if we are in more of an income season rather than an asset season. Where focussing on income is going to be important.
I see his point of view, and I would say it is not as black and white. Many factors contribute to financial success in NZ; individual determination is one aspect of many. However, many drives to success come from higher social mobility and socioeconomic status, as well as your upbringing, education, personality, kindness, and supporting figures. Many people add value to this world without trying to profit. You can be clever and snowball your income, find ways to earn more and think lateral, but many believe in a linear process, especially those who don’t like to be outspoken or take greater risks, which is fine too. It is a personal preference. Money is also one aspect that defines a rich life. With less I and more we, success can be a shared experience.
Epic legend! What ways are you adding value to this world without trying to profit?
Great video. Good timing. Thank you.
Thanks legend!
Cutting it straight. Nice!
Its like buying a car, driving it for 10 years then selling it at twice the price. makes no sense why house prices go up when the practical value has gone down. over priced junk that traps you in the rat race with the thought that your getting wealthy when in reality your not once you consider interest, the amount of money leaving your pocket each week, the illiquidity of the asset and the value of every other home has gone up so when you sell for a profit you cant buy anything of greater value. not interested....
It’s not like buying a car with a depreciable asset. Poor example. If it’s not for you that’s fine but it does make sense if you take the time to understand.
@@sy210687 Both products are made from materials that wear and tear over time.
Loving the content Luke!!
What would you say for the students out there.
I’m a nineteen year old studying radiography and knew the pros and cons of taking up study. I know that success is related to your own personal goals, with mine at the moment being completing this degree where I can then make a positive impact in the health sector. In terms of money though, are there things that you see as being beneficial financially while studying?
I have done some jobs in my breaks, trying to increase my own value, but to be honest this is just to pay for life and the course. Any tips?
Cheers
This is a great topic mate I will make a note
Straight up G👌
This is cool bro I'm been forestry pruning for most of my life. I always wanted to be my own boss, build an empire, and I'm just not good with taxes and receipts and getting contracts. I have never figured out how ,I need a financial adviser or adviser or something I'm willing to put in the hard yards just feels impossible on my own I live in Dunedin by myself the closes family I have live in whangarei and they are not rich or financially competent, any advice on how I should start my plans I got so many dreams and goals I don't want anything just want to be successful so I can one day take care of my 5 kids and my girlfriend who lives in China an can't come to new Zealand for about 5 more years cause she got blacklisted.
Check out HNRY they sort all your taxes as a sole trader. But building and empire you may need a company and therefore an accountant. If you want it bad enough gotta put in the mahi to learn. But people will help you. Taxes etc will be the last of your worries when building and empire haha!
My late dad said his best days work was buying his first home this was early 90s in Auckland,(Devonport)the rest is history. Ps good video!
@@itsjustme9354 sorry to hear about your Dad! Did you inherit that? Great spot down there!
Should i sell my house? I don’t need it i don’t even use it. I could be making cashflowww instead perhaps? 🤔
So how did you get rich lol accounting? Who are the best NZ business mentors?
See my video on going from credit card debt to $1,000,000. Best NZ mentors - just find people who have done things you want to do or achieved things you want to achieve, keep it simple.
Cool channel, nice having some kiwi content
Welcome 🎉
I like how you added not property😂😂😂
Well I didn't use property haha!
Are you in one of those tall buildings in Takapuna?
@@Mr_Sh1tcoin yeah love it here
Man you are so right you're annoying 😂 now I need more.
Haha apologies. 500 free podcasts recorded to help people learn and grow. Go well
Let me acknowledge that you are on a good path. But as someone who has made money here and in South Africa, it is much easier to make money in SA. I have doubled my money on stocks in 3 months, and buying and selling, I have doubled it in 2 hours. There are so many ways to make money in SA, even working, at one time I had a business and three jobs, and worked 8 hours seven days a week.
The biggest drawback here is that you are Taxed too heavily to run a small business profitably, this is not my conclusion, but the conclusion of small business owners who all dodge taxes. That you were in the business of helping them dodge Tax, should help you understand. My own opinion is they are all crooks, which was not generally true in SA, as you can easily not pay any Tax until you are usefully profitable. Here you are hounded by the IRD, even when you are honest, and persecuted for your 1% failure.
About TV and screen time, it is not that you watch, it is what you spend time watching. Your channel should be watched, as you are correct to invest in other people. Sadly it is not an option for most.
@@ebaab9913 good insights. I’ve never been to SA. On the bucket list?? Yeah not many tax ‘loopholes’ in NZ unlike many uneducated believe! Cheers
What about those people watching this youtube video on their smart TV haha nah just kidding, good video mate. adding value, investing into yourself to create better leverage skills you can get more out of what you do, great video
Haha you know what I mean! Cheers
My god, thats 14:57 of my life that i will never get back. You’ve literally said nearly nothing and taken 15 minutes saying it.
The teacher will appear when the student is ready :)
I like your thinking 🤯
@@chrisfox9779 glad it got you thinking 👌🏻
Be in service to others add values
Amen!
Truth.
But I'm watching you on my TV .
Nice content. I think it would be good to upscale it a bit and leave the bro type talk out so it comes across more professional and has a better reach.
Trying out all sorts of styles. Have you ever made any content that has had good reach? Any tips if so? Cheers
Sounds like the millionaire fast lane book. With the serving people and vaule
Nice I gotta check that one out
As long as you understand all money is bank debt and you holding it means someone else is paying interest on it. If all new money or wage increases mean new debt mist be entered into and this is only based on growth, in a world of 23 countries going to lose half their populations over the next 80 years how does your opinion of getting more money work in that situation?
Edit By asking for more money in the world you are asking for more debt and interest paid, why is this a plan moving forward?
Dunno man that's beyond me I will figure it out as I go. Better to get some money to then have that problem instead of intentionally living broke IMO
@@keepthechangenz Money is one side of a ledger, the debt exists on the other. If all debt were paid back there would be no money in existence. Your whole life revolves around this money/debt and how it enters society and all you care about is "gettin some"?
The main problem with society is they don't understand money and you say " don't worry about it until you get a lot"
Seriously, shouldn't you at least know how money is created before you tell people how to get it, if it's not to educate with this channel and you are ignorant of it, why should people listen if all it is in your mind is just a means of transaction and you don't look at the overall system?
@ I can’t change the system legend. Just a player in the game 🫡
@@keepthechangenz Not knowing how the pieces are made or how the rules of the game are made doesn't make you a player it makes you one of the pawns
Not knowing how the pieces are made or how the rules of the game are made doesn't make you a player, it makes you one of the pawns
Great video bro
A bit of fun! Glad it made sense. Hit record and ripped in haha
That would take quite a big portion of my brain which is already deployed on other things ... between work and downtime. For some reason wealth doesn't interest me like the challenges I face at work and in Call of Duty.
Perhaps reframe wealth to goals and things that are important to you. Might find some answers in there of what drives you.
Don’t hate the player guys hate game😂
I just won the lotto 😂 I was poor before that
Well done. Beaten the odds
Hasn’t the nz property market crashed. Did nz property drop in price about 7% after the GFC and about 20% drop in the 80s and isn’t Wellington more than 20% drops and Auckland close . So nz is basically in its biggest downturn in property EVER. Yet no one in nz media saying the word crash. You can look at about any stocks gains over the last 20 years on a graph and most of them cruise along to when the pandemic hit where governments and central banks went insane saving businesses and jobs with a off shoot to that in 2 years approximately assets prices around the world skyrocketed 40 plus percent. Now thats insane. No body from 2020 to 2022 had the brains to benefit in assets over this period, it was government made and any idiot could of done it. Actually any idiot could of made good money in assets around the world after the GFC to the pandemic, because most countries held there cash rates ( OCR ) unusual low for this period. In NZs stupid case there OCR in 2008 was 8.25% , they crashed it to 2.5% in 2009 and carried on lowering it to 1% by 2019. A year before the pandemic. How’s that for promoting property prices, and a housing boom inbetween that period around 2015. So in 2015 /17 nz had a housing boom with a OCR of 2.5% and going to 1% but in a housing boom from 2005 to 2008 they INCREASED the OCR to 8.25% . Now to my point. Assets prices are through the roof with high debt because borrowing money at the time was extremely low. Historically interest rates aren’t high. Mortgage rates might get to the high 4 and many mortgage holders have still got increases in super low fixed rates to come even if rates came down to 5%. In 2019 nz was slowing even with extremely low rates and property prices 40% lower than now. I would be very careful right now. The world isn’t over the pandemic in fact it hasn’t even started paying for it. BUT i guess governments could of done nothing in 2020 but assets prices would of crashed 50% then. We are at 40% plus from the pandemic at the moment and dropping. But for how long. A lot of inexperienced people have gotten into stocks over the pandemic period thinking they are master minds when anyone with half a brain made money. Everyone should know Warren Buffett , greatest financial wizard of all time. He’s approximately 60% cashed up at the moment, $325 BILLION in cash . WAITING. The newbies own stocks in NASDAQ
@@brett7989 Shesh a lot of thought here! How much further do you see property crashing? Property articles sell a lot of advertising and hope so I don’t think they would use the word crash lightly 😅
@ i made a lot of spelling mistakes. Sorry I fixed it up. Nz was putting a lot of hope in nz prices with the new government. Nothing happened there. The new hope is interest rates coming down. Normally mortgage rates are around 4.5 to 5% . The pandemic period was a extreme period. Mortgages in the high 4s won’t stop house prices dropping. Prices are simply to high and stock levels for sale are through the roof with extremely low demand. Sales are terrible and what sales there are are a few expensive houses why’ll average home and apartments and townhouses are doing extremely badly. On top of all that many have lost a lot of equity. Equity is the driver to invest more or upsize that house. What a lot forget is you need 2 things to buy a house, means to pay your monthly payments and a deposit. Now here’s the truth about nz that nobody talks about. Nz 2019, house prices were 40% lower than there 2022 peak. The OCR was 1% , ONLY •75% higher than 2020/21 . Why weren’t people buying crazy. Because they had means to pay but not enough equity. Then the pandemic hits . Who cares about the RBNZ dropping to •25% . It’s dropping LVRS that got the property market booming. Basically this happened. I have a investment property worth $1 million. My LVR is 60% pre pandemic. So $400000 equity. Im not allowed any less. Pandemic hits . I now only need $200000 equity. I have 100% to much equity. So for every house i own i can buy another. So 10 properties go to 20. And interest rates are massively in my favour too. So investors went crazy and everyone else to keep up. But here the problem. Investors maxed out their equity with 20% equity. That was put back up plus property prices have dropped 20% . That’s extremely bad. Even if LVR were dropped it wouldn’t make any difference because most investors brought at 80% LVRS anyway and there properties are down 20% + as well. Plus how many mortgage holders are on fixed at 2.9% to 4% waiting for a massive increase. My guess is all the smaller cities and towns in nz are still waiting for massive drops. These people were pushed out of Auckland in mass and pushed into little towns. Little towns generally have little demand without a striving Auckland. With Auckland little towns are stuffed. And personally that was a once in a lifetime with the pandemic. Little towns also benefited more than normal over the Auckland boom of 2012 to 2017. When the ocr was heading to 1% and the rbnz was stuffing around with LVRS. People need to wake up. All this without a GFC2 ( global recession) which is very much on the cards. O sorry there’s trump. Thing’ll b fine
Ps , there could be a short sweet spot with interest rates dropping but I doubt it will last. Remember right now is worse than the QE pandemic and 2019
Nobody is rich in NZ lol
@@D-Marie0970 Rich in mind 😂👌🏻
@@keepthechangenz oh for sure. NZ definitely has people who are rich in mind 😆
I got no money
@@jamesross5120 plenty of time to learn and earn. Get on the path 👌🏻
yo G i like you a lot so I'm gonna be honest G. Don't wear your top like that G.
Naah G I am fine I need somewhere to put the mic G. What's up with all the people who comment on how people should or shouldn't dress or look G. Buzzy G. Go hard!
@@keepthechangenzNah clowning on the bro is wrong, tidy that up. Money talks, wealth whispers. Keep up the hustle but don't forget to park your boyfriends swift on a safe street.
I think that you got rich with 100 on the nose on a nag in race 5 at TeRapa.😉
@@peterobertson2086 would need to be paying $1,001 😂
This was annoying
@@weboughtarestaurant 😂😂 how’s the restaurant going?
Have rich parents there saved u 15 mins of yapping
@@Hello-gf2og good luck with that working for you 😂 Many of us aren’t in that position.