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The 5 Levels of Financial Freedom: Which One Are You? · Making Cents

• 0:00
  Financial
• 0:00
  freedom
• 0:01
  isn't
• 0:01
  what
• 0:02
  most
• 0:02
  people
• 0:02
  think
• 0:02
  it
• 0:03
  is.
• 0:03
  It's
• 0:03
  not
• 0:04
  a
• 0:04
  personality
• 0:05
  type
• 0:05
  or
• 0:05
  a
• 0:06
  salary
• 0:06
  bracket
• 0:07
  or
• 0:07
  something
• 0:07
  that
• 0:08
  only
• 0:08
  happens
• 0:09
  to
• 0:09
  other
• 0:09
  people.
• 0:10
  It's
• 0:10
  a
• 0:10
  series
• 0:11
  of
• 0:12
  levels.
• 0:13
  And
• 0:13
  once
• 0:13
  you
• 0:14
  understand
• 0:14
  the
• 0:15
  levels,
• 0:15
  the
• 0:16
  whole
• 0:16
  thing
• 0:16
  stops
• 0:17
  feeling
• 0:17
  impossible
• 0:18
  and
• 0:19
  starts
• 0:19
  feeling
• 0:20
  like
• 0:20
  a
• 0:20
  plan.
• 0:21
  Five
• 0:21
  levels,
• 0:23
  each
• 0:23
  one
• 0:24
  building
• 0:25
  on
• 0:25
  the
• 0:25
  last
• 0:25
  and
• 0:26
  each
• 0:26
  one
• 0:27
  making
• 0:27
  the
• 0:27
  next
• 0:28
  one
• 0:28
  easier
• 0:29
  to
• 0:29
  reach.
• 0:30
  Not
• 0:30
  harder,
• 0:30
  easier.
• 0:31
  The
• 0:31
  first
• 0:32
  level
• 0:33
  doesn't
• 0:33
  even
• 0:34
  require
• 0:34
  much
• 0:35
  money
• 0:35
  at
• 0:35
  all.
• 0:35
  It's
• 0:36
  just
• 0:36
  requiring
• 0:37
  honesty.
• 0:38
  But
• 0:39
  I'll
• 0:39
  get
• 0:39
  to
• 0:39
  that.
• 0:40
  The
• 0:40
  top
• 0:40
  level,
• 0:41
  level
• 0:41
  five.
• 0:41
  That's
• 0:42
  the
• 0:42
  one
• 0:42
  that
• 0:43
  most
• 0:43
  people
• 0:43
  picture
• 0:44
  when
• 0:44
  they
• 0:44
  hear
• 0:44
  the
• 0:45
  words
• 0:45
  financial
• 0:46
  freedom.
• 0:47
  The
• 0:47
  point
• 0:47
  where
• 0:48
  your
• 0:48
  investments
• 0:49
  cover
• 0:49
  your
• 0:49
  entire
• 0:49
  life
• 0:50
  and
• 0:51
  work
• 0:51
  becomes
• 0:51
  something
• 0:52
  you
• 0:52
  do
• 0:52
  because
• 0:52
  you
• 0:52
  want
• 0:53
  to,
• 0:54
  not
• 0:54
  because
• 0:54
  you
• 0:54
  have
• 0:54
  to.
• 0:55
  And
• 0:55
  yes,
• 0:56
  ordinary
• 0:57
  people
• 0:58
  get
• 0:58
  there.
• 0:59
  Not
• 0:59
  just
• 0:59
  high
• 1:00
  earners,
• 1:00
  not
• 1:01
  just
• 1:01
  people
• 1:01
  who
• 1:01
  got
• 1:01
  lucky,
• 1:02
  people
• 1:03
  who
• 1:03
  understood
• 1:03
  the
• 1:04
  levels
• 1:04
  and
• 1:04
  worked
• 1:05
  through
• 1:05
  them
• 1:06
  one
• 1:06
  at
• 1:06
  a
• 1:07
  time.
• 1:07
  I
• 1:07
  know
• 1:08
  because
• 1:09
  I've
• 1:09
  talked
• 1:10
  to
• 1:10
  them
• 1:10
  and
• 1:10
  I've
• 1:11
  done
• 1:11
  this
• 1:11
  myself.
• 1:12
  So
• 1:12
  today,
• 1:13
  I'm
• 1:13
  giving
• 1:13
  you
• 1:14
  the
• 1:14
  map.
• 1:14
  Where
• 1:15
  you
• 1:15
  are,
• 1:16
  where
• 1:16
  you're
• 1:16
  going,
• 1:17
  and
• 1:18
  what
• 1:18
  it
• 1:18
  actually
• 1:18
  takes
• 1:19
  to
• 1:19
  get
• 1:19
  from
• 1:19
  one
• 1:20
  to.
• 1:20
  To
• 1:20
  the
• 1:20
  next.
• 1:21
  And
• 1:21
  wherever
• 1:22
  you
• 1:22
  are
• 1:22
  right
• 1:22
  now,
• 1:23
  whether
• 1:23
  you're
• 1:24
  drowning
• 1:24
  in
• 1:25
  debt
• 1:25
  and
• 1:25
  just
• 1:26
  trying
• 1:26
  to
• 1:26
  get
• 1:26
  a
• 1:26
  grip,
• 1:27
  or
• 1:27
  you're
• 1:27
  already
• 1:28
  investing
• 1:28
  and
• 1:29
  wondering
• 1:29
  what
• 1:30
  comes
• 1:30
  next,
• 1:31
  this
• 1:31
  episode
• 1:32
  will
• 1:32
  help
• 1:32
  you
• 1:32
  to
• 1:33
  figure
• 1:33
  out
• 1:33
  where
• 1:33
  you
• 1:34
  are
• 1:34
  and
• 1:35
  where
• 1:35
  you
• 1:35
  should
• 1:36
  be
• 1:36
  aiming
• 1:36
  for
• 1:37
  next.
• 1:38
  So
• 1:38
  welcome
• 1:38
  to
• 1:39
  Making
• 1:39
  Sense.
• 1:39
  It's
• 1:39
  the
• 1:39
  podcast
• 1:40
  for
• 1:40
  people
• 1:40
  who
• 1:40
  want
• 1:41
  financial
• 1:41
  freedom
• 1:42
  without
• 1:42
  giving
• 1:42
  up
• 1:42
  their
• 1:43
  coffee.
• 1:43
  I'm
• 1:44
  Francis
• 1:44
  Cook,
• 1:44
  a
• 1:44
  financial
• 1:45
  journalist
• 1:45
  and
• 1:45
  fellow
• 1:46
  financial
• 1:46
  freedom
• 1:46
  seeker
• 1:47
  who
• 1:47
  makes
• 1:47
  money
• 1:48
  simple
• 1:48
  for
• 1:48
  you.
• 1:49
  Let's
• 1:49
  get
• 1:49
  into
• 1:50
  this.
• 1:51
  So
• 1:51
  level
• 1:51
  one,
• 1:52
  freedom
• 1:53
  from
• 1:53
  fear.
• 1:54
  You
• 1:54
  know
• 1:54
  your
• 1:55
  numbers.
• 1:56
  This
• 1:56
  one
• 1:56
  doesn't
• 1:57
  need
• 1:57
  any
• 1:58
  sort
• 1:59
  of
• 1:59
  actual
• 1:59
  income
• 2:00
  level
• 2:00
  or
• 2:00
  investments
• 2:02
  in
• 2:02
  this
• 2:02
  one.
• 2:03
  It's
• 2:03
  your
• 2:03
  knowledge
• 2:04
  that
• 2:05
  you're
• 2:05
  investing
• 2:05
  in,
• 2:06
  and
• 2:06
  it's
• 2:06
  the
• 2:06
  knowledge
• 2:07
  of
• 2:07
  your
• 2:07
  own
• 2:07
  situation
• 2:09
  that
• 2:09
  creates
• 2:10
  this
• 2:10
  first
• 2:11
  level
• 2:12
  of
• 2:12
  financial
• 2:12
  freedom.
• 2:13
  Easy
• 2:14
  to
• 2:14
  roll
• 2:14
  your
• 2:14
  eyes
• 2:15
  at
• 2:15
  this
• 2:15
  one,
• 2:15
  but
• 2:16
  don't,
• 2:16
  because
• 2:17
  this
• 2:17
  is
• 2:18
  the
• 2:18
  crucial
• 2:19
  first
• 2:19
  level
• 2:20
  of
• 2:20
  financial
• 2:20
  freedom,
• 2:21
  and
• 2:21
  you
• 2:21
  don't
• 2:22
  get
• 2:23
  anywhere
• 2:24
  without
• 2:24
  it.
• 2:25
  Knowing
• 2:26
  your
• 2:26
  numbers
• 2:26
  means
• 2:26
  you've
• 2:27
  sat
• 2:27
  down,
• 2:28
  actually
• 2:28
  sat
• 2:28
  down,
• 2:29
  not
• 2:29
  just
• 2:29
  vaguely
• 2:30
  thought
• 2:30
  about
• 2:31
  it
• 2:31
  in
• 2:31
  the
• 2:31
  shower.
• 2:32
  And
• 2:32
  you've
• 2:33
  faced
• 2:33
  the
• 2:34
  full
• 2:34
  picture.
• 2:36
  What
• 2:36
  comes
• 2:36
  in
• 2:36
  every
• 2:37
  month,
• 2:38
  what
• 2:38
  goes
• 2:38
  out,
• 2:39
  what
• 2:39
  you
• 2:40
  owe
• 2:40
  and
• 2:40
  what
• 2:41
  you
• 2:41
  own.
• 2:42
  I
• 2:42
  don't
• 2:43
  care
• 2:43
  how
• 2:44
  you
• 2:44
  do
• 2:44
  it,
• 2:45
  but
• 2:45
  I
• 2:45
  do
• 2:46
  care
• 2:46
  that
• 2:47
  you
• 2:47
  do
• 2:47
  it
• 2:47
  in
• 2:48
  some
• 2:49
  kind
• 2:49
  of
• 2:49
  written
• 2:50
  form,
• 2:50
  not
• 2:50
  just
• 2:51
  in
• 2:51
  your
• 2:51
  head,
• 2:52
  because
• 2:52
  that's
• 2:53
  how
• 2:53
  you
• 2:53
  keep
• 2:53
  it
• 2:54
  real
• 2:54
  and
• 2:55
  honest.
• 2:55
  Some
• 2:56
  people
• 2:56
  use
• 2:56
  a
• 2:56
  spreadsheet.
• 2:57
  Some
• 2:58
  people
• 2:58
  write
• 2:58
  it
• 2:58
  down
• 2:59
  in
• 2:59
  a
• 2:59
  notebook.
• 3:00
  Other
• 3:00
  people
• 3:00
  use
• 3:01
  an
• 3:01
  app.
• 3:02
  Don't
• 3:02
  care.
• 3:03
  Whatever
• 3:03
  works
• 3:04
  for
• 3:04
  you.
• 3:05
  Just
• 3:05
  make
• 3:05
  sure
• 3:06
  you
• 3:06
  do
• 3:06
  write
• 3:07
  it
• 3:07
  down.
• 3:08
  Because
• 3:08
  then
• 3:09
  it's
• 3:09
  not
• 3:10
  just
• 3:10
  a
• 3:10
  rough
• 3:11
  idea
• 3:12
  or
• 3:12
  a
• 3:13
  feeling.
• 3:14
  It's
• 3:14
  the
• 3:15
  actual
• 3:16
  numbers.
• 3:17
  Now
• 3:17
  here's
• 3:17
  why
• 3:17
  this
• 3:17
  matters
• 3:18
  so
• 3:19
  much.
• 3:19
  You
• 3:20
  can't
• 3:20
  make
• 3:21
  good
• 3:21
  decisions
• 3:21
  with
• 3:22
  bad
• 3:22
  information
• 3:23
  or
• 3:23
  even
• 3:23
  worse,
• 3:24
  no
• 3:24
  information.
• 3:25
  If
• 3:25
  you
• 3:25
  don't
• 3:26
  know
• 3:27
  how
• 3:27
  much
• 3:27
  debt
• 3:27
  you've
• 3:28
  got,
• 3:28
  you
• 3:29
  can't
• 3:29
  make
• 3:29
  a
• 3:29
  plan
• 3:29
  to
• 3:29
  clear
• 3:30
  it.
• 3:30
  If
• 3:30
  you
• 3:30
  don't
• 3:31
  know
• 3:31
  where
• 3:31
  your
• 3:31
  money
• 3:31
  is
• 3:32
  going,
• 3:33
  you
• 3:33
  can't
• 3:33
  redirect
• 3:34
  it.
• 3:34
  You
• 3:34
  can't
• 3:35
  figure
• 3:35
  out
• 3:36
  if
• 3:36
  things
• 3:37
  are
• 3:37
  getting
• 3:37
  better
• 3:38
  or
• 3:38
  worse.
• 3:39
  And
• 3:39
  look,
• 3:40
  I'm
• 3:41
  a
• 3:41
  little
• 3:41
  bit
• 3:41
  of
• 3:41
  a
• 3:41
  vibes
• 3:42
  girl
• 3:42
  myself.
• 3:43
  I
• 3:43
  much
• 3:43
  prefer
• 3:44
  to
• 3:44
  operate
• 3:45
  on
• 3:45
  vibes.
• 3:46
  That's
• 3:46
  why
• 3:46
  almost
• 3:47
  all
• 3:47
  of
• 3:47
  my
• 3:47
  money
• 3:48
  is
• 3:48
  automated
• 3:49
  and
• 3:49
  set
• 3:50
  and
• 3:50
  forget.
• 3:51
  Because
• 3:51
  I
• 3:52
  hate
• 3:52
  doing
• 3:53
  this
• 3:53
  stuff.
• 3:53
  I
• 3:54
  do.
• 3:54
  I
• 3:54
  get
• 3:54
  it.
• 3:55
  But
• 3:56
  you
• 3:56
  do
• 3:57
  need
• 3:57
  to
• 3:57
  sit
• 3:57
  down
• 3:58
  and
• 3:58
  fully
• 3:59
  figure
• 3:59
  this
• 3:59
  out
• 3:59
  at
• 4:00
  least
• 4:00
  once.
• 4:01
  Because
• 4:01
  this
• 4:02
  is
• 4:02
  what
• 4:03
  everything
• 4:03
  else
• 4:04
  will
• 4:04
  be
• 4:04
  built
• 4:05
  on.
• 4:05
  You
• 4:05
  can't
• 4:06
  get
• 4:06
  to
• 4:06
  level
• 4:06
  five
• 4:07
  without
• 4:07
  level
• 4:08
  one.
• 4:08
  And
• 4:08
  just
• 4:09
  knowing
• 4:10
  what's
• 4:10
  happening,
• 4:11
  you'll
• 4:12
  start
• 4:12
  to
• 4:12
  see
• 4:12
  patterns.
• 4:13
  Change
• 4:14
  starts
• 4:15
  in
• 4:15
  the
• 4:15
  background,
• 4:16
  just
• 4:17
  from
• 4:17
  looking.
• 4:18
  So
• 4:18
  many
• 4:18
  of
• 4:18
  us
• 4:19
  try
• 4:19
  not
• 4:20
  to
• 4:20
  take
• 4:20
  this
• 4:20
  first
• 4:21
  step
• 4:21
  of
• 4:21
  financial
• 4:21
  freedom,
• 4:22
  because
• 4:23
  if
• 4:24
  we
• 4:24
  feel
• 4:24
  like
• 4:24
  we're
• 4:24
  doing
• 4:25
  kind
• 4:25
  of
• 4:25
  okay,
• 4:26
  then
• 4:26
  it's
• 4:27
  comforting
• 4:28
  not
• 4:28
  to
• 4:28
  look.
• 4:29
  Because
• 4:29
  what
• 4:30
  if
• 4:31
  the
• 4:31
  actual
• 4:32
  numbers
• 4:33
  are
• 4:33
  scary?
• 4:34
  And
• 4:34
  I've
• 4:34
  been
• 4:34
  there,
• 4:35
  done
• 4:36
  that,
• 4:36
  but
• 4:36
  there's
• 4:37
  a
• 4:37
  reason
• 4:37
  this
• 4:38
  is
• 4:38
  the
• 4:38
  first
• 4:38
  level
• 4:38
  of
• 4:39
  financial
• 4:39
  freedom.
• 4:40
  Because
• 4:40
  you
• 4:40
  do
• 4:41
  get
• 4:42
  that
• 4:42
  first
• 4:43
  taste
• 4:43
  of
• 4:44
  freedom
• 4:44
  when
• 4:45
  you
• 4:45
  actually
• 4:45
  sit
• 4:46
  down
• 4:46
  for
• 4:46
  this.
• 4:47
  Because
• 4:48
  the
• 4:48
  debt
• 4:48
  exists
• 4:49
  whether
• 4:49
  you
• 4:49
  open
• 4:50
  the
• 4:50
  letter
• 4:50
  or
• 4:50
  not.
• 4:51
  The
• 4:51
  numbers
• 4:51
  are
• 4:51
  the
• 4:52
  same
• 4:53
  whether
• 4:53
  you've
• 4:53
  checked
• 4:54
  them
• 4:54
  or
• 4:54
  not.
• 4:54
  But
• 4:54
  what
• 4:55
  changes
• 4:56
  is
• 4:57
  when
• 4:57
  you
• 4:57
  look
• 4:58
  at
• 4:58
  that
• 4:59
  now
• 4:59
  you
• 4:59
  can
• 4:59
  actually
• 5:00
  do
• 5:00
  something
• 5:00
  about
• 5:01
  it.
• 5:01
  And
• 5:01
  most
• 5:02
  people
• 5:02
  start
• 5:02
  making
• 5:03
  automatic
• 5:04
  unconscious
• 5:05
  changes
• 5:06
  when
• 5:06
  they
• 5:07
  actually
• 5:08
  look
• 5:08
  at
• 5:08
  this
• 5:08
  properly
• 5:09
  and
• 5:09
  start
• 5:10
  keeping
• 5:10
  an
• 5:10
  eye
• 5:10
  on
• 5:10
  it.
• 5:11
  How
• 5:11
  do
• 5:11
  you
• 5:11
  get
• 5:11
  to
• 5:11
  level
• 5:12
  one?
• 5:12
  One
• 5:12
  afternoon.
• 5:13
  That's
• 5:13
  all
• 5:14
  it
• 5:14
  takes.
• 5:15
  Sit
• 5:15
  down
• 5:15
  with
• 5:16
  your
• 5:16
  bank
• 5:16
  statements,
• 5:17
  your
• 5:17
  kiwisaver
• 5:18
  balances,
• 5:18
  any
• 5:19
  debt
• 5:19
  you've
• 5:19
  got,
• 5:19
  and
• 5:20
  write
• 5:20
  it
• 5:20
  all
• 5:20
  down.
• 5:21
  So
• 5:21
  total
• 5:21
  it
• 5:21
  up.
• 5:22
  That's
• 5:22
  your
• 5:22
  starting
• 5:23
  point.
• 5:23
  And
• 5:24
  if
• 5:24
  the
• 5:24
  number
• 5:24
  is
• 5:24
  ugly,
• 5:25
  that's
• 5:26
  okay.
• 5:27
  Ugly
• 5:27
  numbers
• 5:28
  that
• 5:28
  you
• 5:29
  know
• 5:29
  about
• 5:30
  are
• 5:30
  so
• 5:30
  much
• 5:31
  more
• 5:31
  manageable
• 5:32
  than
• 5:32
  ugly
• 5:33
  numbers
• 5:33
  that
• 5:33
  you're
• 5:33
  pretending
• 5:34
  don't
• 5:34
  exist.
• 5:36
  And
• 5:36
  once
• 5:36
  you
• 5:36
  know
• 5:36
  your
• 5:37
  numbers,
• 5:38
  you
• 5:38
  have
• 5:38
  done
• 5:38
  something
• 5:39
  that
• 5:39
  a
• 5:39
  huge
• 5:39
  number
• 5:40
  of
• 5:40
  people
• 5:40
  have
• 5:40
  never
• 5:41
  done.
• 5:42
  You
• 5:42
  faced
• 5:42
  your
• 5:43
  financial
• 5:43
  reality
• 5:44
  honestly,
• 5:45
  and
• 5:45
  you
• 5:46
  can't
• 5:46
  reach
• 5:46
  the
• 5:47
  other
• 5:47
  levels
• 5:47
  without
• 5:48
  having
• 5:48
  done
• 5:48
  that.
• 5:48
  And
• 5:50
  you've
• 5:50
  built
• 5:50
  freedom
• 5:52
  from
• 5:52
  the
• 5:52
  fear
• 5:53
  of
• 5:54
  your
• 5:54
  numbers.
• 5:55
  That's
• 5:56
  huge.
• 5:57
  Now
• 5:57
  you're
• 5:57
  ready
• 5:57
  to
• 5:57
  build
• 5:58
  more.
• 5:59
  Build
• 5:59
  more
• 5:59
  freedom.
• 6:00
  Take
• 6:00
  different
• 6:01
  financial
• 6:01
  steps,
• 6:01
  but
• 6:02
  you
• 6:02
  never
• 6:02
  get
• 6:02
  anywhere
• 6:03
  if
• 6:03
  you're
• 6:04
  too
• 6:04
  fearful
• 6:05
  to
• 6:05
  look.
• 6:06
  You
• 6:06
  need
• 6:07
  the
• 6:07
  freedom
• 6:08
  from
• 6:08
  the
• 6:09
  fear
• 6:09
  of
• 6:10
  your
• 6:10
  money
• 6:10
  situation.
• 6:11
  That's
• 6:11
  the
• 6:11
  first
• 6:11
  thing
• 6:11
  you
• 6:12
  cut
• 6:13
  and
• 6:13
  you
• 6:14
  step
• 6:14
  onto
• 6:14
  that
• 6:14
  platform
• 6:15
  of
• 6:16
  the
• 6:16
  level
• 6:16
  one,
• 6:16
  financial
• 6:17
  freedom.
• 6:18
  From
• 6:19
  there
• 6:20
  now
• 6:20
  you
• 6:20
  can
• 6:21
  see
• 6:21
  the
• 6:21
  next
• 6:21
  level
• 6:22
  and
• 6:22
  the
• 6:22
  next
• 6:23
  level.
• 6:23
  Level
• 6:24
  two,
• 6:24
  your
• 6:25
  financial
• 6:25
  foundations
• 6:26
  are
• 6:26
  sorted.
• 6:27
  Now,
• 6:28
  my
• 6:28
  job
• 6:28
  means
• 6:29
  that
• 6:29
  I
• 6:29
  have
• 6:29
  to
• 6:29
  read
• 6:30
  a
• 6:30
  lot
• 6:30
  of
• 6:31
  academic
• 6:31
  studies.
• 6:32
  I
• 6:32
  actually
• 6:33
  love
• 6:33
  it,
• 6:33
  but
• 6:34
  I
• 6:34
  do
• 6:34
  read
• 6:34
  a
• 6:34
  lot
• 6:35
  of
• 6:35
  them.
• 6:35
  And
• 6:36
  do
• 6:36
  you
• 6:36
  know
• 6:37
  what
• 6:37
  comes
• 6:38
  up
• 6:38
  over
• 6:38
  and
• 6:39
  over
• 6:39
  again
• 6:40
  in
• 6:40
  all
• 6:40
  sorts
• 6:40
  of
• 6:41
  different
• 6:41
  studies
• 6:41
  from
• 6:42
  all
• 6:42
  sorts
• 6:42
  of
• 6:42
  different
• 6:43
  places,
• 6:44
  that
• 6:44
  a
• 6:45
  lot
• 6:45
  of
• 6:45
  people
• 6:45
  are
• 6:46
  incredibly
• 6:46
  stressed
• 6:47
  about
• 6:48
  their
• 6:48
  money.
• 6:48
  Maybe
• 6:49
  that's
• 6:49
  not
• 6:49
  surprising,
• 6:49
  but
• 6:50
  what
• 6:50
  might
• 6:50
  surprise
• 6:51
  you
• 6:51
  more
• 6:51
  is
• 6:52
  that
• 6:52
  this
• 6:52
  stress
• 6:53
  is
• 6:53
  at
• 6:53
  all
• 6:54
  different
• 6:55
  income
• 6:55
  levels.
• 6:56
  Six
• 6:56
  figure
• 6:57
  earners
• 6:57
  and
• 6:58
  minimum
• 6:58
  wage
• 6:59
  earners.
• 6:59
  A
• 7:00
  lot
• 7:00
  of
• 7:00
  them
• 7:00
  are
• 7:01
  just
• 7:01
  as
• 7:01
  stressed
• 7:02
  about
• 7:02
  money.
• 7:03
  The
• 7:03
  percentage
• 7:04
  of
• 7:04
  stressed
• 7:04
  people
• 7:05
  doesn't
• 7:05
  actually
• 7:06
  change
• 7:06
  that
• 7:06
  much.
• 7:07
  And
• 7:08
  do
• 7:08
  you
• 7:08
  know
• 7:09
  what?
• 7:09
  What's
• 7:09
  the
• 7:10
  number
• 7:10
  one
• 7:10
  thing
• 7:11
  that
• 7:11
  reduces
• 7:12
  money
• 7:13
  stress
• 7:13
  at
• 7:14
  all
• 7:14
  those
• 7:14
  different
• 7:14
  income
• 7:15
  levels?
• 7:16
  A
• 7:16
  change
• 7:17
  that
• 7:17
  can
• 7:17
  be
• 7:17
  brought
• 7:18
  in
• 7:18
  to
• 7:19
  most
• 7:19
  situations
• 7:20
  that
• 7:21
  makes
• 7:21
  the
• 7:21
  biggest
• 7:21
  difference.
• 7:22
  Having
• 7:23
  emergency
• 7:24
  savings,
• 7:25
  a
• 7:25
  bank
• 7:26
  account
• 7:26
  with
• 7:27
  cash
• 7:27
  in
• 7:27
  it,
• 7:28
  it's
• 7:28
  usually
• 7:29
  between
• 7:29
  1
• 7:30
  to
• 7:30
  $5,000
• 7:31
  is
• 7:32
  the
• 7:32
  biggest
• 7:33
  way
• 7:33
  to
• 7:34
  reduce
• 7:34
  money
• 7:34
  stress.
• 7:35
  That
• 7:36
  is
• 7:36
  financial
• 7:37
  freedom
• 7:38
  that
• 7:38
  people
• 7:38
  underestimate.
• 7:39
  Reducing
• 7:40
  stress,
• 7:41
  reducing
• 7:42
  the
• 7:42
  background
• 7:43
  hum
• 7:44
  of
• 7:44
  worry.
• 7:44
  And
• 7:45
  it
• 7:45
  really
• 7:46
  can
• 7:46
  be
• 7:47
  that
• 7:47
  simple.
• 7:48
  So
• 7:48
  that's
• 7:48
  why
• 7:49
  this
• 7:49
  is
• 7:49
  level
• 7:50
  two,
• 7:50
  because
• 7:50
  level
• 7:50
  two
• 7:51
  can
• 7:52
  be
• 7:52
  a
• 7:52
  huge
• 7:53
  stress
• 7:53
  reducer.
• 7:54
  It's
• 7:54
  getting
• 7:54
  those
• 7:55
  financial
• 7:55
  foundations
• 7:57
  sorted.
• 7:57
  And
• 7:58
  it's
• 7:58
  actually
• 7:58
  not
• 7:58
  just
• 7:58
  one
• 7:59
  thing
• 7:59
  here.
• 8:00
  It's
• 8:00
  three
• 8:00
  things
• 8:01
  that
• 8:02
  reinforce
• 8:02
  each
• 8:03
  other
• 8:03
  to
• 8:03
  build
• 8:04
  this
• 8:05
  foundation.
• 8:06
  Once
• 8:06
  you
• 8:06
  have
• 8:06
  all
• 8:07
  three,
• 8:07
  you'll
• 8:08
  feel
• 8:08
  the
• 8:08
  shift.
• 8:09
  The
• 8:09
  first
• 8:09
  is
• 8:09
  stability
• 8:10
  or
• 8:10
  self
• 8:11
  sufficiency.
• 8:11
  And
• 8:12
  this
• 8:12
  is
• 8:12
  your
• 8:12
  income.
• 8:13
  Covers
• 8:14
  your
• 8:14
  bills,
• 8:14
  all
• 8:15
  of
• 8:15
  them.
• 8:15
  No
• 8:15
  parents
• 8:16
  topping
• 8:16
  you
• 8:16
  up
• 8:17
  or
• 8:17
  relying
• 8:18
  on
• 8:18
  credit
• 8:19
  cards.
• 8:19
  You're
• 8:19
  able
• 8:19
  to
• 8:20
  stand
• 8:20
  on
• 8:20
  your
• 8:20
  own
• 8:21
  two
• 8:21
  feet.
• 8:22
  Really
• 8:22
  easy
• 8:22
  to
• 8:22
  underestimate
• 8:23
  this
• 8:24
  and
• 8:24
  how
• 8:24
  important
• 8:24
  it
• 8:25
  is.
• 8:25
  But
• 8:25
  there
• 8:25
  is
• 8:26
  huge
• 8:26
  freedom
• 8:27
  and
• 8:27
  not
• 8:28
  owing
• 8:29
  anyone
• 8:29
  else
• 8:30
  anything.
• 8:31
  And
• 8:31
  we
• 8:31
  often
• 8:32
  don't
• 8:32
  give
• 8:32
  ourselves
• 8:33
  credit
• 8:33
  for
• 8:33
  this,
• 8:33
  but
• 8:34
  it's
• 8:34
  enormous.
• 8:36
  Now
• 8:36
  the
• 8:36
  second
• 8:37
  one.
• 8:37
  Cushion,
• 8:39
  specifically
• 8:40
  an
• 8:40
  emergency
• 8:41
  fund.
• 8:41
  Money
• 8:42
  sitting
• 8:42
  in
• 8:42
  a
• 8:42
  savings
• 8:43
  account,
• 8:43
  not
• 8:44
  invested,
• 8:45
  not
• 8:45
  in
• 8:45
  kiwisaver,
• 8:47
  just
• 8:47
  sitting
• 8:47
  there,
• 8:48
  accessible.
• 8:49
  That
• 8:49
  covers
• 8:50
  unexpected
• 8:50
  costs
• 8:51
  without
• 8:52
  destroying
• 8:53
  everything
• 8:53
  else
• 8:53
  that
• 8:54
  you're
• 8:54
  working
• 8:54
  towards.
• 8:55
  Now,
• 8:56
  there's
• 8:56
  a
• 8:56
  couple
• 8:57
  of
• 8:57
  different
• 8:57
  rules
• 8:57
  of
• 8:58
  thumb
• 8:58
  here
• 8:58
  on
• 8:58
  how
• 8:59
  you
• 8:59
  put
• 8:59
  together
• 8:59
  your
• 8:59
  cushion.
• 9:00
  The
• 9:00
  first
• 9:01
  is
• 9:01
  to
• 9:01
  have
• 9:01
  $1,000
• 9:02
  ready
• 9:03
  for
• 9:03
  life's
• 9:03
  curveballs.
• 9:04
  And
• 9:04
  the
• 9:05
  next
• 9:05
  after
• 9:05
  that
• 9:05
  is
• 9:06
  to
• 9:06
  have
• 9:06
  three
• 9:06
  months
• 9:07
  of
• 9:07
  your
• 9:07
  core
• 9:08
  expenses
• 9:08
  covered.
• 9:09
  So
• 9:09
  only
• 9:10
  the
• 9:10
  things
• 9:10
  you'd
• 9:10
  really
• 9:11
  have
• 9:11
  to
• 9:11
  Pay
• 9:11
  like
• 9:12
  rent,
• 9:12
  food,
• 9:13
  electricity
• 9:14
  bill,
• 9:14
  transport.
• 9:15
  Three
• 9:15
  months
• 9:15
  of
• 9:16
  those
• 9:16
  core
• 9:17
  unavoidable
• 9:18
  costs
• 9:19
  in
• 9:19
  a
• 9:19
  savings
• 9:20
  account.
• 9:20
  Now,
• 9:20
  without
• 9:20
  a
• 9:21
  cushion,
• 9:21
  every
• 9:22
  unexpected
• 9:23
  expense
• 9:23
  is
• 9:23
  a
• 9:23
  crisis.
• 9:24
  The
• 9:24
  car
• 9:25
  repair,
• 9:25
  the
• 9:26
  vet
• 9:26
  bill,
• 9:27
  it
• 9:27
  goes
• 9:27
  on
• 9:27
  the
• 9:27
  credit
• 9:28
  card,
• 9:28
  it
• 9:28
  sets
• 9:28
  you
• 9:29
  back,
• 9:29
  it
• 9:29
  undoes
• 9:30
  the
• 9:30
  progress
• 9:31
  with
• 9:31
  a
• 9:31
  cushion.
• 9:32
  It's
• 9:32
  just
• 9:33
  an
• 9:33
  annoying
• 9:34
  yes,
• 9:35
  but
• 9:35
  just
• 9:35
  annoying
• 9:36
  expense
• 9:37
  that
• 9:37
  you
• 9:37
  deal
• 9:38
  with
• 9:38
  and
• 9:39
  move
• 9:39
  on
• 9:39
  from.
• 9:40
  You
• 9:40
  start
• 9:40
  with
• 9:40
  that
• 9:41
  thousand
• 9:41
  dollars
• 9:41
  goal,
• 9:43
  you
• 9:43
  build
• 9:43
  from
• 9:43
  there
• 9:43
  to
• 9:44
  the
• 9:44
  three
• 9:44
  months
• 9:44
  of
• 9:44
  expenses
• 9:45
  and
• 9:46
  it's
• 9:46
  huge
• 9:47
  freedom
• 9:47
  both
• 9:48
  financially
• 9:48
  and
• 9:49
  mentally.
• 9:49
  And
• 9:50
  then
• 9:50
  the
• 9:50
  debt,
• 9:50
  specifically
• 9:51
  getting
• 9:51
  rid
• 9:52
  of
• 9:52
  high
• 9:52
  interest
• 9:52
  debt
• 9:53
  and
• 9:53
  buy
• 9:54
  now,
• 9:54
  pay
• 9:54
  later
• 9:55
  counts.
• 9:55
  Sorry,
• 9:56
  I
• 9:56
  know
• 9:56
  people
• 9:57
  don't
• 9:57
  want
• 9:57
  to
• 9:57
  hear
• 9:57
  that.
• 9:58
  I
• 9:58
  know
• 9:58
  those
• 9:58
  companies
• 9:59
  like
• 9:59
  to
• 9:59
  pretend
• 10:00
  that
• 10:00
  they're
• 10:00
  not
• 10:01
  debt.
• 10:01
  They're
• 10:02
  lying.
• 10:02
  That's
• 10:03
  marketing
• 10:04
  to
• 10:04
  make
• 10:04
  you
• 10:05
  feel
• 10:05
  more
• 10:05
  comfortable
• 10:06
  with
• 10:06
  debt
• 10:06
  because
• 10:06
  research
• 10:07
  shows
• 10:08
  we
• 10:08
  don't
• 10:09
  like
• 10:09
  credit
• 10:09
  card
• 10:10
  debt
• 10:10
  anymore,
• 10:11
  so
• 10:11
  they
• 10:11
  rebranded
• 10:12
  it.
• 10:12
  But
• 10:12
  the
• 10:12
  fees
• 10:13
  if
• 10:13
  you
• 10:13
  miss
• 10:13
  a
• 10:14
  payment
• 10:14
  are
• 10:14
  huge.
• 10:15
  So
• 10:16
  don't
• 10:16
  be
• 10:16
  tricked.
• 10:17
  A
• 10:17
  mortgage
• 10:17
  doesn't
• 10:18
  count.
• 10:18
  That's
• 10:19
  the
• 10:19
  only
• 10:20
  one.
• 10:20
  It's
• 10:20
  a
• 10:21
  long
• 10:21
  term
• 10:22
  lower
• 10:22
  cost
• 10:22
  debt
• 10:23
  that
• 10:23
  helps
• 10:24
  you
• 10:24
  build
• 10:24
  up
• 10:24
  an
• 10:24
  asset.
• 10:25
  Anything
• 10:26
  else,
• 10:27
  that
• 10:27
  is
• 10:28
  debt,
• 10:29
  especially
• 10:30
  high
• 10:30
  interest
• 10:31
  debt
• 10:31
  of
• 10:31
  any
• 10:32
  form.
• 10:32
  If
• 10:32
  you
• 10:32
  owe
• 10:33
  people
• 10:33
  money,
• 10:34
  it's
• 10:34
  working
• 10:34
  against
• 10:35
  you.
• 10:36
  Every
• 10:36
  dollar
• 10:37
  you're
• 10:37
  paying
• 10:38
  in
• 10:38
  interest
• 10:38
  to
• 10:38
  a
• 10:39
  credit
• 10:39
  card
• 10:39
  company
• 10:39
  is
• 10:40
  a
• 10:40
  dollar
• 10:40
  that
• 10:41
  could
• 10:41
  be
• 10:41
  building
• 10:41
  your
• 10:42
  future
• 10:42
  life
• 10:42
  instead.
• 10:44
  Getting
• 10:44
  rid
• 10:44
  of
• 10:44
  that
• 10:44
  debt
• 10:45
  is
• 10:45
  one
• 10:45
  of
• 10:45
  the
• 10:45
  best
• 10:46
  investments
• 10:46
  you
• 10:46
  can
• 10:46
  make
• 10:47
  because
• 10:47
  debt
• 10:48
  means
• 10:49
  the
• 10:49
  same
• 10:49
  thing
• 10:50
  is
• 10:51
  costing
• 10:51
  you
• 10:51
  more
• 10:51
  money
• 10:52
  and
• 10:53
  you're
• 10:53
  having
• 10:53
  to
• 10:53
  mentally
• 10:54
  juggle
• 10:54
  it.
• 10:55
  Give
• 10:56
  yourself
• 10:56
  freedom
• 10:57
  from
• 10:57
  both
• 10:57
  of
• 10:58
  those
• 10:58
  things.
• 10:59
  Getting
• 10:59
  to
• 10:59
  level
• 11:00
  two
• 11:01
  can
• 11:01
  be
• 11:01
  a
• 11:02
  tougher
• 11:02
  grind
• 11:03
  than
• 11:03
  some
• 11:03
  of
• 11:03
  the
• 11:04
  other
• 11:04
  higher
• 11:05
  levels,
• 11:05
  particularly
• 11:07
  if
• 11:07
  you
• 11:07
  have
• 11:07
  high
• 11:08
  interest
• 11:08
  debt.
• 11:08
  It's
• 11:09
  just
• 11:09
  not
• 11:09
  as
• 11:09
  fun
• 11:10
  putting
• 11:11
  these
• 11:11
  foundations
• 11:11
  in
• 11:12
  place
• 11:12
  and
• 11:12
  paying
• 11:13
  off
• 11:13
  debt.
• 11:14
  I
• 11:14
  know,
• 11:14
  I
• 11:14
  understand
• 11:15
  these
• 11:16
  early
• 11:16
  levels
• 11:17
  are
• 11:17
  a
• 11:17
  little
• 11:17
  bit
• 11:18
  hard.
• 11:18
  Something
• 11:18
  like
• 11:19
  investing
• 11:19
  feels
• 11:20
  more
• 11:20
  fun.
• 11:21
  But
• 11:21
  you've
• 11:21
  got
• 11:22
  to
• 11:22
  lock
• 11:22
  in
• 11:22
  these
• 11:22
  foundations
• 11:23
  because
• 11:24
  they're
• 11:24
  what
• 11:24
  get
• 11:24
  you
• 11:25
  to
• 11:25
  the
• 11:25
  next
• 11:26
  more
• 11:26
  fun
• 11:27
  levels.
• 11:27
  And
• 11:28
  when
• 11:28
  you
• 11:28
  do,
• 11:29
  when
• 11:29
  you
• 11:30
  lock
• 11:30
  in
• 11:30
  level
• 11:31
  two,
• 11:32
  celebrate
• 11:33
  it.
• 11:33
  Because
• 11:34
  level
• 11:34
  two
• 11:35
  of
• 11:35
  financial
• 11:35
  freedom,
• 11:36
  the
• 11:36
  freedom
• 11:36
  you're
• 11:37
  building
• 11:37
  here
• 11:37
  is
• 11:38
  so
• 11:38
  real.
• 11:39
  You
• 11:39
  have
• 11:40
  removed
• 11:41
  mass
• 11:41
  amounts
• 11:42
  of
• 11:42
  stress
• 11:43
  from
• 11:43
  your
• 11:43
  life
• 11:43
  and
• 11:43
  it
• 11:44
  is
• 11:44
  just
• 11:44
  going
• 11:44
  to
• 11:45
  feel
• 11:46
  so
• 11:46
  good.
• 11:48
  Quick
• 11:48
  interruption
• 11:49
  to
• 11:49
  say
• 11:49
  if
• 11:49
  you're
• 11:50
  enjoying
• 11:50
  this
• 11:50
  episode,
• 11:51
  you'll
• 11:51
  love
• 11:51
  the
• 11:52
  Market
• 11:52
  Memo,
• 11:53
  my
• 11:53
  weekly
• 11:53
  newsletter
• 11:54
  where
• 11:54
  I
• 11:54
  teach
• 11:54
  you
• 11:55
  how
• 11:55
  to
• 11:55
  actually
• 11:56
  invest.
• 11:56
  No
• 11:57
  jargon,
• 11:57
  no
• 11:58
  spreadsheets,
• 11:58
  just
• 11:59
  real
• 11:59
  talk
• 11:59
  about
• 12:00
  shares
• 12:00
  and
• 12:01
  how
• 12:01
  to
• 12:01
  make
• 12:01
  your
• 12:01
  money
• 12:02
  work
• 12:02
  for
• 12:02
  you.
• 12:02
  It's
• 12:03
  the
• 12:03
  thing
• 12:03
  I
• 12:03
  wish
• 12:03
  I'd
• 12:04
  had
• 12:04
  when
• 12:04
  I
• 12:04
  was
• 12:05
  starting
• 12:05
  out.
• 12:06
  You
• 12:06
  can
• 12:06
  sign
• 12:06
  up
• 12:06
  for
• 12:07
  free
• 12:07
  at
• 12:07
  Franciscook
• 12:08
  Co
• 12:09
  NZ
• 12:10
  Invest.
• 12:10
  That's
• 12:11
  Franciscook
• 12:12
  Co
• 12:12
  NZ
• 12:13
  Invest.
• 12:14
  But
• 12:14
  don't
• 12:14
  worry,
• 12:14
  I'll
• 12:15
  put
• 12:15
  the
• 12:15
  link
• 12:15
  in
• 12:15
  the
• 12:16
  show
• 12:16
  notes
• 12:16
  and
• 12:16
  the
• 12:17
  description
• 12:17
  of
• 12:17
  this
• 12:18
  podcast.
• 12:19
  All
• 12:19
  right,
• 12:19
  back
• 12:20
  to
• 12:20
  it.
• 12:22
  Level
• 12:23
  three,
• 12:23
  you
• 12:23
  have
• 12:24
  real
• 12:24
  choices.
• 12:26
  This
• 12:26
  is
• 12:26
  where
• 12:26
  financial
• 12:27
  freedom
• 12:27
  stops
• 12:28
  feeling
• 12:28
  theoretical
• 12:29
  and
• 12:30
  like
• 12:30
  you're
• 12:30
  celebrating
• 12:31
  things
• 12:31
  that,
• 12:32
  okay,
• 12:32
  you
• 12:33
  know,
• 12:33
  it's
• 12:33
  good,
• 12:34
  but
• 12:34
  it's
• 12:35
  not
• 12:35
  that
• 12:35
  exciting
• 12:35
  yet.
• 12:36
  Level
• 12:37
  three
• 12:38
  is
• 12:38
  where
• 12:38
  it
• 12:39
  starts
• 12:39
  to
• 12:39
  build
• 12:39
  up
• 12:40
  that
• 12:40
  real
• 12:41
  excitement
• 12:42
  and
• 12:42
  then
• 12:42
  it
• 12:42
  starts
• 12:43
  being
• 12:43
  something
• 12:43
  you
• 12:43
  can
• 12:44
  actually
• 12:44
  feel
• 12:45
  in
• 12:45
  your
• 12:46
  daily
• 12:46
  life.
• 12:46
  At
• 12:47
  level
• 12:47
  three,
• 12:48
  you
• 12:48
  get
• 12:49
  serious
• 12:49
  about
• 12:50
  investing
• 12:50
  and
• 12:51
  you
• 12:51
  build
• 12:51
  up
• 12:51
  enough
• 12:53
  that
• 12:53
  you
• 12:53
  have
• 12:53
  a
• 12:53
  real
• 12:54
  safety
• 12:55
  net.
• 12:56
  This
• 12:56
  is
• 12:56
  not
• 12:56
  quit
• 12:56
  your
• 12:57
  job
• 12:57
  forever
• 12:58
  money,
• 12:59
  but
• 12:59
  it
• 12:59
  is
• 13:00
  I
• 13:01
  can
• 13:01
  change
• 13:02
  some
• 13:02
  things
• 13:03
  without
• 13:03
  tanking
• 13:04
  my
• 13:04
  life
• 13:05
  kind
• 13:05
  of
• 13:05
  money.
• 13:06
  And
• 13:06
  you've
• 13:07
  actually
• 13:07
  heard
• 13:07
  some
• 13:08
  examples
• 13:08
  of
• 13:08
  this
• 13:09
  on
• 13:09
  the
• 13:09
  rest
• 13:09
  of
• 13:09
  the
• 13:10
  podcast.
• 13:10
  People
• 13:10
  I've
• 13:11
  spoken
• 13:11
  to
• 13:12
  who
• 13:12
  say,
• 13:13
  yeah,
• 13:13
  you
• 13:13
  know,
• 13:13
  I
• 13:13
  couldn't
• 13:14
  retire
• 13:14
  from
• 13:15
  work
• 13:15
  forever,
• 13:15
  but
• 13:16
  they
• 13:16
  did
• 13:17
  do
• 13:17
  things
• 13:17
  like
• 13:17
  take
• 13:18
  six
• 13:19
  months
• 13:19
  or
• 13:19
  a
• 13:19
  year
• 13:20
  off
• 13:20
  and
• 13:20
  they
• 13:21
  could
• 13:21
  go
• 13:21
  traveling,
• 13:22
  see
• 13:22
  the
• 13:22
  world.
• 13:23
  We
• 13:23
  had
• 13:23
  a
• 13:23
  couple
• 13:24
  of
• 13:24
  people
• 13:24
  who
• 13:24
  went
• 13:24
  traveling
• 13:25
  long
• 13:25
  term
• 13:25
  with
• 13:26
  their
• 13:26
  kids
• 13:27
  and
• 13:27
  the
• 13:27
  investments
• 13:28
  helped
• 13:29
  them
• 13:29
  fund
• 13:29
  some
• 13:29
  of
• 13:29
  that.
• 13:30
  Or
• 13:31
  they
• 13:31
  had
• 13:31
  those
• 13:31
  investments
• 13:32
  so
• 13:32
  they
• 13:32
  knew
• 13:33
  they
• 13:33
  had
• 13:33
  something
• 13:34
  to
• 13:34
  come
• 13:34
  back
• 13:34
  to
• 13:35
  and
• 13:35
  they
• 13:35
  could
• 13:36
  just
• 13:36
  live
• 13:36
  really
• 13:37
  frugally
• 13:38
  while
• 13:38
  they
• 13:38
  took
• 13:38
  some
• 13:38
  time
• 13:39
  out.
• 13:39
  Some
• 13:40
  people
• 13:40
  will
• 13:40
  use
• 13:40
  this
• 13:41
  to
• 13:41
  fund
• 13:41
  a
• 13:41
  career
• 13:42
  change
• 13:42
  or
• 13:43
  to
• 13:43
  try
• 13:43
  out
• 13:43
  a
• 13:44
  business
• 13:44
  idea
• 13:44
  that
• 13:45
  they've
• 13:45
  got.
• 13:46
  How
• 13:46
  much
• 13:46
  you
• 13:47
  need
• 13:47
  to
• 13:47
  have
• 13:47
  invested
• 13:48
  here
• 13:48
  will
• 13:48
  be
• 13:48
  totally
• 13:49
  different
• 13:49
  for
• 13:49
  different
• 13:50
  people
• 13:50
  because
• 13:51
  it
• 13:51
  will
• 13:51
  depend
• 13:52
  on
• 13:53
  how
• 13:53
  much
• 13:53
  your
• 13:53
  life
• 13:54
  costs
• 13:54
  you.
• 13:54
  But
• 13:55
  the
• 13:55
  point
• 13:55
  is
• 13:55
  that
• 13:56
  you
• 13:56
  can
• 13:57
  take
• 13:57
  this
• 13:57
  time
• 13:58
  to
• 13:59
  breathe,
• 14:00
  reassess,
• 14:02
  look
• 14:02
  at
• 14:02
  what's
• 14:03
  next
• 14:03
  and
• 14:04
  what
• 14:04
  you
• 14:05
  actually
• 14:05
  want,
• 14:06
  and
• 14:07
  then
• 14:08
  level
• 14:08
  up
• 14:09
  with
• 14:09
  a
• 14:10
  serious
• 14:11
  safety
• 14:11
  net
• 14:12
  under
• 14:12
  you.
• 14:13
  Level
• 14:13
  three
• 14:14
  is
• 14:15
  often
• 14:15
  what
• 14:15
  makes
• 14:16
  those
• 14:16
  next
• 14:17
  really
• 14:17
  big,
• 14:18
  really
• 14:18
  exciting
• 14:19
  levels
• 14:20
  possible.
• 14:21
  This
• 14:21
  is
• 14:21
  where
• 14:21
  I
• 14:22
  was
• 14:22
  at
• 14:22
  a
• 14:22
  couple
• 14:22
  of
• 14:23
  years
• 14:23
  ago
• 14:23
  before
• 14:23
  starting
• 14:24
  this
• 14:24
  business,
• 14:24
  this
• 14:25
  podcast,
• 14:26
  that
• 14:26
  I
• 14:26
  had
• 14:27
  built
• 14:27
  up
• 14:27
  enough
• 14:28
  investments
• 14:28
  in
• 14:29
  the
• 14:29
  share
• 14:29
  market,
• 14:30
  enough
• 14:30
  savings,
• 14:31
  and
• 14:31
  had
• 14:31
  paid
• 14:32
  off
• 14:32
  a
• 14:32
  good
• 14:32
  amount
• 14:33
  of
• 14:33
  my
• 14:33
  home,
• 14:33
  even
• 14:34
  if
• 14:34
  I
• 14:34
  wasn't
• 14:34
  mortgage
• 14:35
  free.
• 14:36
  But
• 14:36
  I'd
• 14:36
  built
• 14:37
  up
• 14:37
  assets,
• 14:38
  paid
• 14:39
  down
• 14:39
  debt,
• 14:40
  and
• 14:40
  had
• 14:40
  things
• 14:41
  ticking
• 14:41
  along.
• 14:42
  And
• 14:42
  then
• 14:43
  when
• 14:43
  my
• 14:43
  boss
• 14:44
  at
• 14:44
  the
• 14:44
  time
• 14:44
  decided
• 14:45
  to
• 14:46
  really
• 14:46
  screw
• 14:46
  with
• 14:47
  me,
• 14:47
  and
• 14:47
  what's
• 14:47
  worse,
• 14:48
  they
• 14:48
  decided
• 14:48
  to
• 14:49
  do
• 14:49
  it
• 14:49
  right
• 14:49
  as
• 14:49
  I
• 14:50
  was
• 14:50
  about
• 14:50
  to
• 14:50
  go
• 14:50
  on
• 14:50
  maternity
• 14:51
  leave.
• 14:51
  And
• 14:52
  the
• 14:52
  combination
• 14:54
  of
• 14:54
  that
• 14:55
  deep,
• 14:56
  deep
• 14:56
  disrespect
• 14:57
  and
• 14:58
  the
• 14:58
  timing
• 14:59
  of
• 14:59
  it,
• 14:59
  I
• 15:00
  was
• 15:00
  just
• 15:00
  like,
• 15:01
  you
• 15:01
  know
• 15:01
  what?
• 15:02
  I
• 15:03
  don't
• 15:04
  actually
• 15:04
  have
• 15:04
  to
• 15:04
  put
• 15:04
  up
• 15:05
  with
• 15:05
  this.
• 15:06
  You
• 15:06
  think
• 15:06
  you've
• 15:06
  got
• 15:06
  me
• 15:06
  over
• 15:07
  a
• 15:07
  barrel.
• 15:08
  You
• 15:08
  don't,
• 15:09
  and
• 15:09
  I'm
• 15:10
  out
• 15:10
  of
• 15:10
  here.
• 15:10
  And
• 15:10
  I
• 15:11
  left
• 15:11
  sent
• 15:11
  in
• 15:11
  that
• 15:12
  resignation
• 15:12
  email.
• 15:13
  And
• 15:14
  I
• 15:14
  knew
• 15:15
  I
• 15:15
  had
• 15:15
  about
• 15:16
  six
• 15:16
  months
• 15:17
  of
• 15:17
  financial
• 15:18
  room,
• 15:19
  thanks
• 15:19
  to
• 15:19
  my
• 15:19
  investments
• 15:20
  and
• 15:20
  my
• 15:21
  savings,
• 15:21
  that
• 15:22
  I
• 15:22
  could
• 15:22
  still
• 15:22
  financially
• 15:23
  provide
• 15:24
  for
• 15:24
  my
• 15:24
  family
• 15:25
  while
• 15:26
  I
• 15:26
  gave
• 15:26
  something
• 15:26
  new
• 15:27
  a
• 15:27
  shot.
• 15:28
  And
• 15:28
  I
• 15:29
  launched
• 15:29
  this
• 15:29
  business,
• 15:30
  and
• 15:30
  it
• 15:30
  turned
• 15:31
  out
• 15:32
  this
• 15:32
  business
• 15:33
  was
• 15:33
  huge
• 15:34
  for
• 15:34
  increasing
• 15:35
  my
• 15:35
  income,
• 15:36
  which
• 15:36
  is
• 15:36
  then
• 15:36
  opened
• 15:37
  other
• 15:37
  doors
• 15:38
  and
• 15:38
  financial
• 15:39
  possibilities.
• 15:40
  But
• 15:40
  I
• 15:40
  couldn't
• 15:41
  have
• 15:42
  taken
• 15:42
  that
• 15:42
  risk
• 15:43
  if
• 15:43
  I
• 15:43
  wasn't
• 15:44
  at
• 15:44
  level
• 15:44
  three,
• 15:45
  if
• 15:45
  I
• 15:46
  didn't
• 15:46
  have
• 15:46
  that
• 15:46
  safety
• 15:47
  net,
• 15:47
  because
• 15:48
  the
• 15:48
  reality
• 15:48
  is
• 15:49
  I
• 15:49
  did
• 15:50
  still
• 15:50
  need
• 15:50
  to
• 15:50
  put
• 15:50
  food
• 15:50
  on
• 15:51
  the
• 15:51
  table
• 15:51
  for
• 15:51
  my
• 15:51
  kids
• 15:52
  and
• 15:52
  keep
• 15:52
  a
• 15:52
  roof
• 15:52
  over
• 15:53
  their
• 15:53
  heads,
• 15:53
  because
• 15:54
  that's
• 15:55
  life.
• 15:56
  I
• 15:56
  could,
• 15:56
  however,
• 15:58
  make
• 15:58
  a
• 15:58
  risky
• 15:58
  jump
• 15:59
  that
• 15:59
  if
• 15:59
  it
• 15:59
  paid
• 15:59
  off,
• 16:00
  would
• 16:00
  pay
• 16:01
  off
• 16:01
  really
• 16:02
  big.
• 16:03
  But
• 16:03
  I
• 16:03
  had
• 16:03
  that
• 16:03
  financial
• 16:04
  safety
• 16:04
  net
• 16:05
  to
• 16:05
  do
• 16:05
  it,
• 16:06
  and
• 16:07
  then
• 16:07
  it
• 16:07
  did
• 16:07
  pay
• 16:07
  off
• 16:08
  big.
• 16:09
  And
• 16:09
  this
• 16:09
  is
• 16:09
  what
• 16:09
  I
• 16:10
  mean
• 16:10
  about
• 16:10
  each
• 16:11
  level
• 16:11
  makes
• 16:12
  it
• 16:12
  easier
• 16:13
  to
• 16:13
  reach
• 16:13
  the
• 16:14
  next
• 16:14
  level
• 16:14
  up.
• 16:15
  And
• 16:15
  that's
• 16:15
  why
• 16:15
  we
• 16:16
  need
• 16:16
  to
• 16:16
  see
• 16:16
  this
• 16:16
  as
• 16:17
  levels
• 16:17
  of
• 16:17
  financial
• 16:18
  freedom,
• 16:18
  because
• 16:18
  it's
• 16:19
  not
• 16:19
  just
• 16:20
  jumping
• 16:20
  to
• 16:20
  level
• 16:21
  five,
• 16:21
  it's
• 16:22
  that
• 16:22
  each
• 16:22
  level
• 16:23
  snowballs
• 16:24
  up
• 16:25
  and
• 16:26
  makes
• 16:26
  it
• 16:26
  so
• 16:27
  much
• 16:27
  easier
• 16:28
  to
• 16:28
  reach
• 16:28
  the
• 16:29
  next
• 16:29
  one.
• 16:29
  What
• 16:29
  seems
• 16:30
  impossible
• 16:31
  when
• 16:32
  you're
• 16:32
  at
• 16:32
  level
• 16:32
  one?
• 16:32
  When
• 16:33
  I
• 16:33
  was
• 16:33
  at
• 16:33
  level
• 16:33
  one,
• 16:34
  I
• 16:34
  genuinely,
• 16:35
  truly
• 16:35
  would
• 16:35
  have
• 16:35
  thought
• 16:35
  my
• 16:36
  current
• 16:36
  situation
• 16:37
  was
• 16:37
  impossible,
• 16:38
  no
• 16:38
  matter
• 16:38
  how
• 16:38
  much
• 16:39
  time
• 16:39
  you
• 16:39
  gave
• 16:39
  me.
• 16:40
  And
• 16:40
  yet,
• 16:41
  under
• 16:41
  10
• 16:41
  years,
• 16:42
  I'm
• 16:42
  living
• 16:43
  a
• 16:43
  totally
• 16:43
  different
• 16:43
  life.
• 16:44
  So
• 16:45
  at
• 16:45
  level
• 16:45
  three,
• 16:46
  you
• 16:46
  are
• 16:47
  not
• 16:47
  fully
• 16:47
  financially
• 16:48
  independent,
• 16:48
  yet
• 16:49
  you
• 16:49
  still
• 16:50
  need
• 16:50
  income,
• 16:51
  but
• 16:51
  you
• 16:51
  are
• 16:52
  no
• 16:52
  longer
• 16:52
  completely
• 16:53
  trapped
• 16:53
  by
• 16:53
  the
• 16:53
  need
• 16:54
  for
• 16:54
  income
• 16:54
  either.
• 16:55
  There's
• 16:56
  a
• 16:56
  meaningful
• 16:56
  difference
• 16:57
  between
• 16:58
  those
• 16:58
  two
• 16:59
  things.
• 16:59
  And
• 16:59
  once
• 16:59
  you
• 17:00
  cross
• 17:00
  that
• 17:00
  line,
• 17:01
  you
• 17:02
  really
• 17:03
  feel
• 17:03
  it.
• 17:04
  At
• 17:04
  this
• 17:04
  level,
• 17:04
  you
• 17:05
  have
• 17:05
  enough
• 17:05
  invested
• 17:06
  in
• 17:06
  shares
• 17:07
  or
• 17:07
  whatever
• 17:08
  that
• 17:08
  you
• 17:08
  have
• 17:08
  genuine
• 17:09
  options
• 17:10
  that
• 17:11
  you
• 17:11
  didn't
• 17:11
  have
• 17:11
  before.
• 17:13
  You
• 17:13
  could
• 17:13
  take
• 17:13
  a
• 17:13
  pay
• 17:13
  cut
• 17:14
  to
• 17:14
  do
• 17:14
  work
• 17:15
  that
• 17:15
  you
• 17:15
  actually
• 17:15
  love.
• 17:16
  You
• 17:16
  could
• 17:16
  take
• 17:16
  six
• 17:17
  months
• 17:17
  off
• 17:17
  if
• 17:18
  you
• 17:18
  needed
• 17:18
  to.
• 17:18
  You
• 17:19
  could
• 17:19
  leave
• 17:19
  a
• 17:19
  job
• 17:20
  that's
• 17:20
  making
• 17:20
  you
• 17:21
  miserable
• 17:21
  without
• 17:22
  it
• 17:22
  being
• 17:22
  a
• 17:22
  financial
• 17:23
  emergency.
• 17:24
  You
• 17:24
  could
• 17:24
  negotiate
• 17:25
  your
• 17:25
  hours,
• 17:26
  your
• 17:26
  conditions,
• 17:27
  your
• 17:27
  rate
• 17:27
  from
• 17:28
  a
• 17:28
  position
• 17:28
  of
• 17:28
  strength
• 17:30
  rather
• 17:30
  than
• 17:30
  pure
• 17:30
  desperation.
• 17:31
  And
• 17:31
  because
• 17:32
  you're
• 17:33
  coming
• 17:33
  from
• 17:33
  that
• 17:33
  position
• 17:34
  of
• 17:34
  strength,
• 17:35
  you
• 17:35
  can
• 17:35
  achieve
• 17:36
  so
• 17:37
  much
• 17:37
  more.
• 17:38
  Now,
• 17:39
  in
• 17:40
  practical
• 17:40
  New
• 17:40
  Zealand
• 17:41
  terms,
• 17:41
  just
• 17:41
  to
• 17:41
  give
• 17:42
  you,
• 17:42
  like,
• 17:42
  a
• 17:42
  rough
• 17:43
  figure
• 17:43
  to
• 17:44
  work
• 17:44
  off,
• 17:44
  this
• 17:45
  might
• 17:45
  look
• 17:45
  like
• 17:46
  having
• 17:46
  sort
• 17:47
  of
• 17:47
  between
• 17:47
  50,000
• 17:48
  to
• 17:49
  150,000
• 17:50
  invested
• 17:51
  outside
• 17:52
  of
• 17:52
  Kiwisaver
• 17:53
  so
• 17:53
  that
• 17:53
  you
• 17:53
  can,
• 17:53
  you
• 17:53
  know,
• 17:54
  access
• 17:54
  it.
• 17:55
  The
• 17:55
  exact
• 17:55
  numbers
• 17:56
  are
• 17:56
  going
• 17:56
  to
• 17:56
  depend
• 17:57
  on
• 17:57
  your
• 17:57
  income
• 17:58
  and
• 17:58
  your
• 17:58
  expenses.
• 17:59
  But
• 17:59
  that's
• 17:59
  a
• 17:59
  little
• 17:59
  rule
• 18:00
  of
• 18:00
  thumb
• 18:00
  marker
• 18:01
  for
• 18:01
  you
• 18:01
  to
• 18:01
  bear
• 18:02
  in
• 18:02
  mind,
• 18:03
  really.
• 18:04
  The
• 18:04
  feeling
• 18:05
  is
• 18:05
  what
• 18:06
  marks
• 18:06
  this
• 18:07
  level,
• 18:07
  because
• 18:08
  the
• 18:08
  feeling
• 18:08
  is,
• 18:09
  I
• 18:10
  have
• 18:10
  options.
• 18:11
  The
• 18:12
  amount
• 18:12
  that
• 18:12
  you
• 18:12
  get
• 18:13
  from
• 18:13
  what's
• 18:13
  Invested
• 18:14
  might
• 18:14
  not
• 18:14
  be
• 18:14
  huge,
• 18:15
  yet.
• 18:15
  You're
• 18:16
  making
• 18:17
  money
• 18:17
  at
• 18:18
  this
• 18:18
  point,
• 18:18
  but
• 18:18
  it's
• 18:19
  not
• 18:19
  an
• 18:19
  amount
• 18:20
  that
• 18:20
  would
• 18:21
  replace
• 18:21
  your
• 18:21
  income.
• 18:22
  But
• 18:22
  still,
• 18:23
  those
• 18:23
  investments
• 18:24
  are
• 18:24
  real
• 18:25
  and
• 18:25
  meaningful.
• 18:26
  All
• 18:26
  right,
• 18:27
  level
• 18:27
  four,
• 18:28
  your
• 18:28
  money
• 18:28
  is
• 18:29
  working
• 18:29
  as
• 18:29
  hard
• 18:29
  as
• 18:30
  you
• 18:30
  are.
• 18:30
  This
• 18:31
  is
• 18:31
  where
• 18:31
  keeping
• 18:31
  up
• 18:31
  the
• 18:32
  good
• 18:32
  habits
• 18:32
  you
• 18:32
  created
• 18:33
  in
• 18:33
  level
• 18:33
  one
• 18:33
  will
• 18:34
  pay
• 18:34
  off.
• 18:34
  Because
• 18:35
  this
• 18:35
  one
• 18:36
  can
• 18:36
  actually
• 18:36
  sneak
• 18:37
  up
• 18:37
  on
• 18:37
  you,
• 18:37
  believe
• 18:38
  it
• 18:38
  or
• 18:38
  not,
• 18:39
  because
• 18:39
  you
• 18:39
  keep
• 18:40
  investing,
• 18:41
  you
• 18:41
  keep
• 18:41
  putting
• 18:42
  your
• 18:42
  money
• 18:42
  to
• 18:42
  work,
• 18:43
  and
• 18:43
  one
• 18:43
  day
• 18:43
  you
• 18:44
  sit
• 18:44
  down
• 18:44
  for
• 18:45
  a
• 18:45
  little
• 18:45
  check
• 18:46
  in
• 18:46
  on
• 18:46
  your
• 18:46
  numbers
• 18:46
  and
• 18:46
  you
• 18:47
  realize,
• 18:48
  oh,
• 18:49
  my
• 18:49
  investments
• 18:50
  are
• 18:51
  nudging
• 18:51
  along
• 18:52
  to
• 18:52
  almost
• 18:53
  make
• 18:53
  me
• 18:54
  the
• 18:54
  same
• 18:54
  amount
• 18:55
  that
• 18:55
  I
• 18:55
  make
• 18:55
  from
• 18:56
  work.
• 18:57
  Now
• 18:57
  at
• 18:58
  this
• 18:58
  point,
• 18:59
  again,
• 19:00
  rough
• 19:00
  sort
• 19:00
  of
• 19:00
  general
• 19:01
  figures.
• 19:01
  To
• 19:01
  give
• 19:01
  you
• 19:01
  an
• 19:01
  idea,
• 19:02
  you
• 19:02
  might
• 19:03
  have
• 19:03
  something
• 19:03
  like
• 19:03
  200
• 19:04
  to
• 19:04
  $300,000
• 19:05
  invested,
• 19:06
  or
• 19:06
  maybe
• 19:07
  more
• 19:07
  than
• 19:07
  that,
• 19:07
  depending
• 19:08
  on
• 19:08
  where
• 19:08
  you
• 19:08
  live.
• 19:08
  Again,
• 19:09
  it
• 19:09
  really
• 19:10
  depends
• 19:10
  on
• 19:10
  how
• 19:11
  much
• 19:11
  your
• 19:11
  life
• 19:11
  costs
• 19:12
  and
• 19:13
  what
• 19:13
  you've
• 19:13
  invested
• 19:14
  into.
• 19:14
  That's
• 19:15
  why
• 19:15
  a
• 19:15
  lot
• 19:15
  of
• 19:15
  the
• 19:15
  people
• 19:16
  who
• 19:16
  are
• 19:16
  chasing
• 19:16
  financial
• 19:17
  freedom
• 19:18
  like
• 19:18
  to
• 19:18
  live
• 19:18
  quite
• 19:18
  a
• 19:19
  cheap
• 19:19
  life
• 19:19
  and
• 19:20
  invest
• 19:20
  into
• 19:21
  investments
• 19:21
  that
• 19:21
  do
• 19:22
  a
• 19:22
  lot
• 19:22
  of
• 19:22
  heavy
• 19:22
  lifting,
• 19:23
  like
• 19:23
  the
• 19:24
  share
• 19:24
  market,
• 19:24
  because
• 19:25
  then
• 19:25
  you're
• 19:25
  working
• 19:25
  both
• 19:26
  ends
• 19:26
  of
• 19:26
  the
• 19:26
  scale.
• 19:26
  You've
• 19:26
  got
• 19:27
  investments
• 19:27
  working
• 19:27
  really
• 19:28
  hard,
• 19:28
  building
• 19:28
  up
• 19:29
  your
• 19:29
  cash.
• 19:29
  You've
• 19:30
  got
• 19:30
  a
• 19:30
  cheaper
• 19:30
  life
• 19:30
  so
• 19:31
  you
• 19:31
  can
• 19:31
  get
• 19:31
  there
• 19:32
  faster.
• 19:33
  However,
• 19:33
  you
• 19:34
  will
• 19:34
  have
• 19:34
  needed
• 19:34
  to
• 19:34
  invest
• 19:35
  to
• 19:36
  get
• 19:36
  to
• 19:36
  this
• 19:36
  stage,
• 19:37
  because
• 19:38
  saving
• 19:39
  every
• 19:39
  dollar
• 19:40
  into
• 19:40
  a
• 19:40
  savings
• 19:40
  account
• 19:41
  would
• 19:41
  take
• 19:42
  so
• 19:42
  long
• 19:43
  to
• 19:43
  build
• 19:43
  up
• 19:43
  to
• 19:44
  this
• 19:44
  sort
• 19:44
  of
• 19:44
  nest
• 19:45
  egg.
• 19:45
  Earning
• 19:46
  every
• 19:46
  dollar
• 19:47
  of
• 19:47
  that,
• 19:47
  you
• 19:48
  will
• 19:48
  need
• 19:49
  years
• 19:50
  and
• 19:50
  years
• 19:51
  and
• 19:51
  years
• 19:52
  to
• 19:52
  get
• 19:52
  there.
• 19:53
  But
• 19:53
  if
• 19:53
  you
• 19:53
  invest
• 19:54
  it
• 19:54
  so
• 19:55
  that
• 19:55
  your
• 19:55
  money
• 19:55
  is
• 19:55
  making
• 19:56
  money
• 19:56
  and
• 19:56
  earning
• 19:57
  alongside
• 19:58
  you,
• 19:58
  and
• 19:59
  then
• 19:59
  you
• 19:59
  reinvest
• 20:00
  that
• 20:00
  money
• 20:00
  so
• 20:00
  that
• 20:01
  you've
• 20:01
  got
• 20:01
  profit
• 20:02
  making
• 20:02
  profit,
• 20:03
  then
• 20:03
  it
• 20:03
  will
• 20:04
  build
• 20:04
  up
• 20:05
  so
• 20:05
  much
• 20:05
  faster
• 20:06
  than
• 20:07
  you
• 20:07
  think.
• 20:08
  And
• 20:08
  that
• 20:08
  is
• 20:08
  how
• 20:09
  normal
• 20:09
  people
• 20:10
  get
• 20:10
  rich.
• 20:10
  That
• 20:11
  is
• 20:11
  why
• 20:11
  I'm
• 20:12
  obsessed
• 20:12
  with
• 20:13
  investing
• 20:13
  and
• 20:14
  have
• 20:14
  so
• 20:14
  much
• 20:14
  about
• 20:15
  it
• 20:15
  on
• 20:15
  this
• 20:15
  channel,
• 20:16
  because
• 20:17
  you
• 20:17
  need
• 20:17
  your
• 20:17
  money
• 20:18
  to
• 20:18
  be
• 20:18
  making
• 20:19
  money
• 20:19
  alongside
• 20:20
  you.
• 20:20
  Saving
• 20:21
  will
• 20:22
  not
• 20:22
  get
• 20:22
  you
• 20:22
  to
• 20:22
  level
• 20:23
  four
• 20:23
  and
• 20:24
  it
• 20:24
  certainly
• 20:25
  won't
• 20:25
  keep
• 20:25
  you
• 20:25
  at
• 20:25
  level
• 20:26
  four,
• 20:26
  because
• 20:26
  your
• 20:27
  money
• 20:27
  needs
• 20:27
  to
• 20:28
  produce
• 20:28
  an
• 20:29
  income
• 20:29
  for
• 20:30
  this
• 20:30
  to
• 20:30
  work.
• 20:31
  And
• 20:31
  it
• 20:31
  doesn't
• 20:31
  have
• 20:31
  to
• 20:31
  be
• 20:32
  weird
• 20:32
  or
• 20:32
  really
• 20:32
  intense
• 20:33
  investments
• 20:34
  either.
• 20:34
  I
• 20:34
  own
• 20:35
  absolutely
• 20:36
  zero
• 20:36
  crypto
• 20:37
  or
• 20:37
  NFTs
• 20:38
  or
• 20:39
  whatever.
• 20:39
  I
• 20:39
  find
• 20:39
  gold
• 20:40
  interesting,
• 20:40
  but
• 20:41
  I
• 20:41
  don't
• 20:41
  buy
• 20:41
  it
• 20:41
  myself.
• 20:42
  It's
• 20:42
  just
• 20:43
  shares
• 20:44
  and
• 20:44
  property.
• 20:45
  It
• 20:45
  really
• 20:45
  can
• 20:46
  be
• 20:46
  that
• 20:46
  simple.
• 20:47
  Put
• 20:47
  money
• 20:48
  in
• 20:48
  regularly,
• 20:49
  stick
• 20:50
  at
• 20:50
  it,
• 20:51
  reinvest
• 20:51
  what
• 20:52
  you
• 20:52
  earn,
• 20:53
  and
• 20:53
  you
• 20:53
  get
• 20:53
  here
• 20:53
  faster
• 20:54
  than
• 20:54
  you
• 20:54
  think.
• 20:55
  The
• 20:56
  defining
• 20:56
  characteristic
• 20:57
  here
• 20:57
  isn't
• 20:58
  a
• 20:58
  specific
• 20:59
  number,
• 21:00
  it's
• 21:00
  that
• 21:00
  your
• 21:00
  investment
• 21:01
  returns
• 21:02
  are
• 21:02
  now
• 21:02
  doing
• 21:03
  meaningful,
• 21:04
  heavy
• 21:05
  lifting,
• 21:06
  not
• 21:06
  just
• 21:06
  quietly
• 21:07
  Ticking
• 21:07
  along
• 21:07
  in
• 21:08
  the
• 21:08
  background.
• 21:08
  Here's
• 21:09
  what
• 21:09
  that
• 21:09
  means
• 21:09
  in
• 21:09
  practice.
• 21:10
  So,
• 21:11
  average
• 21:11
  return
• 21:12
  of
• 21:12
  the
• 21:12
  share
• 21:12
  market,
• 21:13
  once
• 21:13
  you
• 21:13
  take
• 21:13
  out
• 21:13
  things
• 21:14
  like
• 21:14
  fees
• 21:14
  and
• 21:14
  tax
• 21:15
  and
• 21:15
  inflation,
• 21:16
  it's
• 21:16
  about
• 21:16
  7%
• 21:17
  a
• 21:17
  year.
• 21:18
  So
• 21:18
  in
• 21:19
  a
• 21:19
  reasonable
• 21:19
  market
• 21:20
  year,
• 21:21
  $300,000
• 21:23
  invested,
• 21:24
  7%
• 21:25
  return
• 21:26
  gives
• 21:26
  you
• 21:26
  $21,000
• 21:28
  in
• 21:28
  a
• 21:28
  year.
• 21:29
  Now,
• 21:29
  that's
• 21:30
  not
• 21:30
  your
• 21:30
  entire
• 21:30
  income,
• 21:31
  but
• 21:31
  it's
• 21:32
  real
• 21:32
  money
• 21:33
  that
• 21:33
  arrived
• 21:34
  without
• 21:34
  you
• 21:34
  working
• 21:35
  for
• 21:35
  it,
• 21:35
  without
• 21:35
  you
• 21:36
  trading
• 21:36
  time
• 21:37
  for
• 21:37
  it.
• 21:37
  Because
• 21:38
  just
• 21:38
  because
• 21:38
  you
• 21:38
  had
• 21:39
  investments
• 21:39
  and
• 21:40
  time
• 21:40
  on
• 21:40
  your
• 21:41
  side,
• 21:41
  and
• 21:42
  now
• 21:43
  you're
• 21:43
  seeing
• 21:43
  the
• 21:44
  winds
• 21:44
  building.
• 21:45
  Because
• 21:45
  at
• 21:45
  level
• 21:46
  two,
• 21:47
  compounding
• 21:47
  returns
• 21:48
  are
• 21:49
  doing
• 21:49
  something,
• 21:50
  at
• 21:50
  level
• 21:51
  three,
• 21:51
  it's
• 21:51
  doing
• 21:52
  more.
• 21:53
  But
• 21:53
  at
• 21:53
  level
• 21:54
  four,
• 21:55
  it
• 21:55
  starts
• 21:56
  to
• 21:56
  feel
• 21:56
  like
• 21:56
  you've
• 21:57
  got
• 21:57
  this
• 21:57
  second
• 21:57
  job
• 21:58
  that
• 21:58
  requires
• 21:59
  nothing
• 21:59
  from
• 22:00
  you.
• 22:00
  A
• 22:01
  job
• 22:01
  that
• 22:01
  doesn't
• 22:01
  take
• 22:01
  your
• 22:01
  evenings,
• 22:02
  doesn't
• 22:03
  require
• 22:03
  a
• 22:03
  commute,
• 22:04
  doesn't
• 22:05
  have
• 22:05
  a
• 22:05
  difficult
• 22:05
  manager,
• 22:07
  and
• 22:07
  yet
• 22:07
  it's
• 22:08
  still
• 22:08
  paying
• 22:08
  you.
• 22:10
  And
• 22:10
  there's
• 22:10
  also
• 22:11
  a
• 22:11
  psychological
• 22:12
  shift
• 22:12
  that
• 22:13
  happens
• 22:13
  here.
• 22:13
  Up
• 22:14
  until
• 22:14
  this
• 22:14
  point,
• 22:15
  it
• 22:15
  probably
• 22:16
  felt
• 22:16
  like
• 22:16
  a
• 22:16
  lot
• 22:16
  of
• 22:16
  sacrifice.
• 22:17
  In
• 22:17
  order
• 22:17
  to
• 22:18
  build
• 22:18
  something,
• 22:18
  you
• 22:19
  spend
• 22:19
  less,
• 22:20
  you
• 22:20
  invest
• 22:21
  more.
• 22:21
  You
• 22:22
  have
• 22:22
  to
• 22:22
  make
• 22:22
  some
• 22:22
  choices
• 22:23
  where
• 22:23
  you're
• 22:24
  picking
• 22:24
  the
• 22:24
  future
• 22:25
  over
• 22:25
  the
• 22:25
  right
• 22:26
  now,
• 22:27
  at
• 22:27
  level
• 22:27
  four,
• 22:28
  that
• 22:29
  changes.
• 22:30
  You're
• 22:30
  getting
• 22:30
  momentum,
• 22:31
  you're
• 22:32
  getting
• 22:32
  something
• 22:32
  back,
• 22:33
  you're
• 22:34
  getting
• 22:34
  rewards.
• 22:35
  The
• 22:35
  future
• 22:36
  you've
• 22:37
  been
• 22:37
  building
• 22:37
  towards
• 22:38
  is
• 22:39
  arriving.
• 22:40
  You're
• 22:40
  not
• 22:40
  pushing
• 22:40
  the
• 22:41
  boulder
• 22:41
  up
• 22:41
  the
• 22:41
  hill
• 22:42
  anymore,
• 22:42
  it's
• 22:42
  rolling.
• 22:43
  And
• 22:43
  your
• 22:44
  job
• 22:44
  is
• 22:45
  just
• 22:45
  not
• 22:45
  to
• 22:45
  get
• 22:46
  in
• 22:46
  its
• 22:46
  way.
• 22:47
  What
• 22:48
  gets
• 22:48
  you
• 22:48
  to
• 22:48
  level
• 22:49
  four,
• 22:49
  though?
• 22:50
  Time.
• 22:51
  And
• 22:52
  consistently
• 22:53
  doing
• 22:53
  the
• 22:53
  things
• 22:53
  you
• 22:54
  know
• 22:54
  you
• 22:54
  need
• 22:54
  to
• 22:55
  do.
• 22:56
  Regular
• 22:56
  investments,
• 22:57
  building
• 22:58
  your
• 22:58
  income,
• 22:59
  investing
• 23:00
  more,
• 23:00
  sticking
• 23:01
  with
• 23:01
  it
• 23:01
  through
• 23:01
  market
• 23:02
  ups
• 23:02
  and
• 23:02
  downs,
• 23:03
  Reinvesting
• 23:03
  returns
• 23:04
  rather
• 23:04
  than
• 23:05
  spending
• 23:06
  them.
• 23:06
  The
• 23:06
  people
• 23:06
  who
• 23:07
  stall
• 23:07
  out
• 23:07
  between
• 23:08
  level
• 23:08
  3
• 23:09
  and
• 23:09
  level
• 23:09
  4
• 23:10
  usually
• 23:11
  do
• 23:11
  so
• 23:11
  because
• 23:12
  they
• 23:12
  let
• 23:13
  lifestyle
• 23:13
  inflation
• 23:14
  eat
• 23:14
  the
• 23:14
  returns.
• 23:15
  Every
• 23:16
  time
• 23:16
  the
• 23:16
  portfolio
• 23:17
  grew,
• 23:17
  so
• 23:18
  did
• 23:18
  the
• 23:18
  spending.
• 23:19
  So
• 23:19
  you
• 23:20
  never
• 23:20
  get
• 23:20
  the
• 23:21
  chance
• 23:21
  to
• 23:21
  to
• 23:22
  truly
• 23:22
  accelerate.
• 23:23
  And
• 23:24
  the
• 23:24
  antidote
• 23:25
  to
• 23:25
  that
• 23:25
  is
• 23:25
  simple,
• 23:26
  if
• 23:26
  not
• 23:27
  always
• 23:27
  easy.
• 23:28
  Just
• 23:28
  because
• 23:29
  it's
• 23:29
  easy
• 23:29
  for
• 23:30
  me
• 23:30
  to
• 23:30
  explain
• 23:30
  doesn't
• 23:31
  mean
• 23:31
  it's
• 23:31
  easy
• 23:31
  to
• 23:31
  do.
• 23:33
  But
• 23:33
  it
• 23:33
  will
• 23:34
  be
• 23:34
  easy
• 23:34
  to
• 23:34
  do
• 23:34
  if
• 23:35
  you
• 23:35
  know
• 23:35
  what
• 23:35
  you're
• 23:35
  aiming
• 23:36
  for.
• 23:36
  You
• 23:36
  have
• 23:37
  to
• 23:37
  commit
• 23:38
  to
• 23:38
  getting
• 23:38
  your
• 23:39
  investments
• 23:39
  to
• 23:39
  grow
• 23:40
  faster
• 23:41
  than
• 23:41
  your
• 23:41
  lifestyle
• 23:42
  does.
• 23:42
  Last,
• 23:43
  Never
• 23:43
  Least
• 23:44
  Level
• 23:44
  5.
• 23:45
  This
• 23:45
  is
• 23:45
  what
• 23:46
  people
• 23:46
  think
• 23:46
  of
• 23:46
  as
• 23:47
  financial
• 23:47
  freedom.
• 23:48
  Work
• 23:49
  is
• 23:49
  optional,
• 23:50
  and
• 23:51
  if
• 23:51
  you
• 23:51
  want,
• 23:52
  you
• 23:52
  never
• 23:52
  have
• 23:53
  to
• 23:53
  work
• 23:53
  again.
• 23:54
  This
• 23:54
  is
• 23:54
  full
• 23:55
  financial
• 23:55
  independence.
• 23:56
  Your
• 23:56
  investments
• 23:57
  create
• 23:57
  enough
• 23:57
  income
• 23:58
  to
• 23:58
  cover
• 23:58
  your
• 23:59
  entire
• 23:59
  life
• 24:00
  permanently.
• 24:02
  If
• 24:02
  you
• 24:02
  choose
• 24:02
  to
• 24:02
  work,
• 24:03
  it
• 24:03
  is
• 24:03
  purely
• 24:04
  a
• 24:04
  choice.
• 24:04
  Fun,
• 24:05
  money
• 24:05
  or
• 24:06
  fulfillment
• 24:06
  or
• 24:07
  whatever.
• 24:07
  You
• 24:08
  could
• 24:08
  walk
• 24:08
  away
• 24:08
  from
• 24:08
  everything
• 24:09
  tomorrow
• 24:10
  and
• 24:10
  be
• 24:11
  completely
• 24:11
  fine.
• 24:12
  Not
• 24:13
  fine
• 24:13
  as
• 24:14
  in
• 24:14
  getting
• 24:14
  by
• 24:15
  fine.
• 24:16
  As
• 24:16
  in,
• 24:16
  your
• 24:17
  financial
• 24:17
  life
• 24:17
  just
• 24:18
  runs
• 24:18
  itself.
• 24:20
  Now
• 24:20
  what
• 24:20
  it's
• 24:20
  run
• 24:21
  by
• 24:21
  is
• 24:21
  some
• 24:21
  maths
• 24:22
  called
• 24:22
  the
• 24:23
  4%
• 24:23
  rule.
• 24:24
  And
• 24:24
  we
• 24:24
  know
• 24:24
  I
• 24:24
  don't
• 24:25
  have
• 24:25
  maths
• 24:26
  here
• 24:26
  on
• 24:26
  this
• 24:26
  channel,
• 24:27
  so
• 24:27
  I
• 24:27
  promise
• 24:28
  this
• 24:28
  is
• 24:28
  pretty
• 24:29
  simple
• 24:29
  maths.
• 24:30
  When
• 24:30
  you're
• 24:31
  doing
• 24:31
  something
• 24:31
  like
• 24:32
  investing
• 24:32
  into
• 24:33
  the
• 24:33
  share
• 24:33
  market,
• 24:34
  probably
• 24:35
  a
• 24:35
  global
• 24:35
  index
• 24:36
  fund,
• 24:37
  keep
• 24:37
  your
• 24:37
  money
• 24:37
  spread
• 24:38
  around,
• 24:39
  then
• 24:40
  a
• 24:40
  rule
• 24:40
  of
• 24:40
  thumb
• 24:41
  is
• 24:41
  that
• 24:41
  you
• 24:41
  could
• 24:42
  take
• 24:42
  out
• 24:42
  4%
• 24:43
  of
• 24:43
  the
• 24:44
  of
• 24:44
  the
• 24:44
  value
• 24:45
  every
• 24:45
  year
• 24:46
  without
• 24:47
  ever
• 24:47
  running
• 24:48
  out,
• 24:49
  because
• 24:49
  it's
• 24:49
  creating
• 24:50
  more
• 24:50
  profit
• 24:51
  than
• 24:51
  that.
• 24:52
  So
• 24:53
  bad
• 24:53
  years
• 24:54
  or
• 24:54
  inflation
• 24:55
  or
• 24:55
  whatever
• 24:56
  else,
• 24:56
  you
• 24:56
  stay
• 24:56
  ahead
• 24:57
  of
• 24:57
  that.
• 24:57
  You
• 24:58
  keep
• 24:58
  replenishing
• 24:59
  the
• 24:59
  money
• 24:59
  from
• 25:00
  the
• 25:00
  good
• 25:00
  years
• 25:01
  even
• 25:01
  as
• 25:02
  you're
• 25:02
  using
• 25:02
  it,
• 25:03
  when
• 25:03
  you're
• 25:03
  using
• 25:04
  that
• 25:04
  4%
• 25:05
  rule.
• 25:06
  So
• 25:06
  if
• 25:06
  you
• 25:07
  have
• 25:07
  a
• 25:07
  million
• 25:07
  dollars
• 25:08
  invested,
• 25:08
  you
• 25:09
  can
• 25:09
  safely
• 25:10
  withdraw
• 25:11
  $40,000
• 25:11
  a
• 25:12
  year.
• 25:12
  If
• 25:12
  your
• 25:13
  life
• 25:13
  costs
• 25:13
  60,000,
• 25:15
  you
• 25:15
  need
• 25:15
  $1.5
• 25:16
  million
• 25:17
  invested.
• 25:17
  If
• 25:18
  the
• 25:18
  life
• 25:18
  you
• 25:19
  want
• 25:19
  costs
• 25:19
  $80,000,
• 25:20
  you
• 25:21
  need
• 25:21
  $2
• 25:21
  million
• 25:22
  invested.
• 25:23
  And
• 25:23
  again,
• 25:24
  this
• 25:24
  is
• 25:24
  where
• 25:25
  investing
• 25:25
  helps
• 25:26
  you
• 25:26
  grow
• 25:26
  money.
• 25:27
  Because
• 25:27
  that
• 25:28
  would
• 25:28
  be
• 25:28
  insane
• 25:29
  to
• 25:30
  earn
• 25:30
  all
• 25:30
  by
• 25:31
  yourself.
• 25:31
  Going
• 25:32
  to
• 25:32
  work
• 25:32
  and
• 25:32
  then
• 25:33
  saving
• 25:34
  it
• 25:34
  would
• 25:35
  take
• 25:35
  you
• 25:36
  so
• 25:36
  long,
• 25:36
  you
• 25:37
  would
• 25:37
  have
• 25:37
  to
• 25:37
  live
• 25:37
  such
• 25:38
  a
• 25:38
  fruit,
• 25:38
  frugal,
• 25:39
  miserable
• 25:40
  life,
• 25:41
  you
• 25:42
  will
• 25:42
  have
• 25:42
  to
• 25:42
  invest
• 25:42
  it.
• 25:43
  To
• 25:43
  get
• 25:43
  to
• 25:43
  a
• 25:43
  goal
• 25:43
  like
• 25:44
  this,
• 25:44
  your
• 25:45
  money
• 25:45
  needs
• 25:46
  to
• 25:46
  be
• 25:46
  earning
• 25:46
  money
• 25:46
  that
• 25:47
  you
• 25:47
  can
• 25:47
  then
• 25:47
  put
• 25:47
  back
• 25:47
  in
• 25:48
  and
• 25:48
  put
• 25:48
  to
• 25:49
  work.
• 25:50
  So
• 25:50
  it
• 25:51
  also
• 25:51
  shows
• 25:51
  you
• 25:51
  can
• 25:52
  get
• 25:52
  here
• 25:52
  faster
• 25:52
  or
• 25:52
  slower
• 25:53
  based
• 25:53
  on
• 25:53
  what
• 25:54
  you
• 25:54
  want
• 25:54
  from
• 25:54
  life,
• 25:54
  right?
• 25:55
  If
• 25:55
  your
• 25:55
  life
• 25:56
  costs
• 25:56
  less,
• 25:57
  you'll
• 25:57
  get
• 25:57
  here
• 25:57
  faster.
• 25:58
  If
• 25:58
  you
• 25:58
  want
• 25:59
  a
• 25:59
  bougier
• 25:59
  life,
• 26:00
  you'll
• 26:00
  need
• 26:00
  more
• 26:01
  invested.
• 26:02
  This
• 26:02
  is
• 26:02
  why
• 26:02
  I
• 26:03
  like
• 26:03
  the
• 26:03
  levels
• 26:04
  framework
• 26:04
  rather
• 26:05
  than
• 26:05
  just
• 26:06
  financial
• 26:06
  freedom
• 26:07
  or
• 26:07
  not.
• 26:08
  Because
• 26:09
  every
• 26:09
  step
• 26:09
  up
• 26:10
  these
• 26:10
  levels
• 26:11
  makes
• 26:11
  the
• 26:11
  next
• 26:12
  one
• 26:12
  so
• 26:12
  much
• 26:12
  easier
• 26:13
  to
• 26:13
  get
• 26:13
  to.
• 26:13
  I
• 26:13
  actually
• 26:14
  think
• 26:15
  it's
• 26:15
  harder
• 26:16
  to
• 26:16
  go
• 26:16
  from
• 26:16
  level
• 26:17
  one
• 26:17
  to
• 26:18
  level
• 26:18
  two
• 26:19
  than
• 26:19
  it
• 26:19
  is
• 26:19
  to
• 26:20
  go
• 26:20
  from
• 26:20
  level
• 26:20
  four
• 26:21
  to
• 26:21
  level
• 26:21
  five,
• 26:22
  level
• 26:23
  one
• 26:23
  to
• 26:23
  level
• 26:23
  two,
• 26:23
  you're
• 26:24
  making
• 26:24
  some
• 26:24
  big
• 26:24
  life
• 26:24
  changes
• 26:25
  without
• 26:26
  much
• 26:26
  behind
• 26:26
  you
• 26:27
  to
• 26:27
  help
• 26:27
  push
• 26:28
  you
• 26:28
  forwards.
• 26:28
  You're
• 26:29
  having
• 26:29
  to
• 26:29
  really
• 26:29
  dig
• 26:29
  deep,
• 26:30
  find
• 26:30
  some
• 26:30
  motivation
• 26:30
  and
• 26:31
  tell
• 26:31
  yourself,
• 26:31
  I
• 26:31
  believe
• 26:32
  in
• 26:32
  myself
• 26:32
  and
• 26:32
  I
• 26:33
  know
• 26:33
  I
• 26:33
  can
• 26:33
  do
• 26:33
  this.
• 26:35
  Level
• 26:35
  four
• 26:35
  to
• 26:35
  level
• 26:36
  five,
• 26:36
  well,
• 26:36
  you
• 26:37
  kind
• 26:37
  of
• 26:37
  just
• 26:37
  gotta
• 26:37
  keep
• 26:38
  going
• 26:38
  to
• 26:39
  get
• 26:39
  there.
• 26:39
  And
• 26:39
  you've
• 26:39
  got
• 26:40
  all
• 26:40
  of
• 26:40
  this
• 26:40
  positive
• 26:41
  reinforcement
• 26:42
  because
• 26:42
  you
• 26:43
  can
• 26:43
  see
• 26:43
  it
• 26:43
  working.
• 26:44
  You've
• 26:44
  got
• 26:45
  the
• 26:45
  evidence,
• 26:45
  you
• 26:46
  know
• 26:46
  it's
• 26:46
  done
• 26:46
  well,
• 26:47
  you're
• 26:47
  feeling
• 26:47
  like
• 26:47
  a
• 26:48
  success.
• 26:49
  But
• 26:49
  also
• 26:50
  through
• 26:50
  these
• 26:50
  levels,
• 26:51
  you
• 26:52
  build
• 26:52
  up
• 26:52
  the
• 26:52
  knowledge
• 26:53
  and
• 26:53
  financial
• 26:54
  habits
• 26:54
  that
• 26:54
  help
• 26:54
  you
• 26:55
  keep
• 26:55
  this
• 26:55
  going,
• 26:56
  to
• 26:57
  make
• 26:57
  it
• 26:57
  a
• 26:57
  life
• 26:58
  you
• 26:58
  keep,
• 26:59
  not
• 26:59
  just
• 26:59
  this
• 27:00
  little
• 27:00
  blip
• 27:00
  of
• 27:01
  success
• 27:01
  that
• 27:01
  you
• 27:02
  lose,
• 27:02
  like
• 27:02
  a
• 27:03
  lottery
• 27:03
  win
• 27:03
  or
• 27:03
  something.
• 27:04
  If
• 27:04
  you've
• 27:05
  been
• 27:05
  investing
• 27:05
  consistently
• 27:07
  since
• 27:07
  the
• 27:07
  earlier
• 27:08
  levels.
• 27:09
  You
• 27:09
  can
• 27:09
  get
• 27:09
  here
• 27:09
  faster
• 27:10
  than
• 27:10
  you
• 27:10
  think.
• 27:11
  This
• 27:11
  is
• 27:11
  the
• 27:11
  thing
• 27:11
  the
• 27:12
  conventional
• 27:12
  wisdom
• 27:13
  about
• 27:13
  money
• 27:13
  gets
• 27:14
  completely
• 27:15
  wrong.
• 27:16
  It
• 27:16
  treats
• 27:16
  financial
• 27:17
  freedom
• 27:17
  as
• 27:18
  something
• 27:18
  that
• 27:18
  happens
• 27:18
  at
• 27:19
  65
• 27:19
  if
• 27:20
  you're
• 27:20
  lucky
• 27:21
  after
• 27:21
  a
• 27:21
  lifetime
• 27:22
  of
• 27:23
  work
• 27:23
  and
• 27:24
  sacrifice.
• 27:24
  But
• 27:25
  the
• 27:25
  whole
• 27:25
  point
• 27:26
  of
• 27:26
  building
• 27:27
  through
• 27:27
  these
• 27:27
  levels,
• 27:28
  the
• 27:28
  mindset
• 27:29
  changes,
• 27:30
  the
• 27:30
  investing,
• 27:30
  the
• 27:31
  consistency.
• 27:32
  Building
• 27:32
  wins
• 27:33
  in
• 27:33
  a
• 27:33
  way
• 27:34
  where
• 27:34
  you
• 27:34
  keep
• 27:34
  them.
• 27:35
  The
• 27:35
  whole
• 27:36
  point
• 27:36
  of
• 27:37
  all
• 27:37
  of
• 27:37
  that
• 27:37
  is
• 27:38
  that
• 27:38
  it
• 27:38
  pulls
• 27:38
  the
• 27:38
  timeline
• 27:39
  forward
• 27:41
  significantly.
• 27:43
  People
• 27:43
  on
• 27:43
  ordinary
• 27:44
  incomes
• 27:45
  get
• 27:45
  here
• 27:46
  in
• 27:46
  their
• 27:46
  40s
• 27:47
  and
• 27:47
  50s.
• 27:48
  Some
• 27:48
  people
• 27:48
  even
• 27:48
  manage
• 27:49
  it
• 27:49
  in
• 27:49
  their
• 27:49
  30s.
• 27:50
  Not
• 27:50
  by
• 27:50
  doing
• 27:51
  anything
• 27:51
  weird
• 27:51
  or
• 27:52
  extreme,
• 27:52
  by
• 27:53
  starting
• 27:54
  and
• 27:55
  not
• 27:55
  stopping.
• 27:57
  Now,
• 27:57
  I
• 27:57
  do
• 27:57
  have
• 27:58
  one
• 27:58
  word
• 27:58
  of
• 27:58
  warning
• 27:58
  about
• 27:59
  this,
• 27:59
  because
• 28:00
  I
• 28:00
  would
• 28:00
  say
• 28:00
  I'm
• 28:01
  at
• 28:01
  level
• 28:01
  four
• 28:01
  rather
• 28:02
  than
• 28:02
  level
• 28:02
  five.
• 28:03
  But
• 28:03
  I
• 28:03
  talk
• 28:03
  to
• 28:03
  people
• 28:04
  at
• 28:04
  all
• 28:05
  stages
• 28:05
  of
• 28:05
  this,
• 28:06
  including
• 28:06
  level
• 28:07
  five,
• 28:08
  because
• 28:08
  I
• 28:09
  have
• 28:09
  the
• 28:09
  best
• 28:09
  job
• 28:09
  in
• 28:09
  the
• 28:10
  world,
• 28:10
  talking
• 28:10
  to
• 28:10
  people
• 28:10
  about
• 28:11
  their
• 28:11
  money.
• 28:11
  And
• 28:12
  there's
• 28:12
  something
• 28:13
  that
• 28:13
  can
• 28:13
  happen
• 28:14
  at
• 28:14
  level
• 28:14
  five
• 28:15
  that
• 28:15
  you
• 28:15
  really
• 28:16
  need
• 28:16
  to
• 28:16
  be
• 28:16
  prepared
• 28:17
  for.
• 28:18
  You
• 28:18
  have
• 28:19
  to
• 28:19
  figure
• 28:19
  out
• 28:20
  who
• 28:20
  you
• 28:21
  are
• 28:22
  without
• 28:23
  financial
• 28:24
  necessity
• 28:25
  as
• 28:25
  the
• 28:26
  anchor.
• 28:26
  Let
• 28:26
  me
• 28:26
  explain
• 28:27
  what
• 28:27
  I
• 28:27
  mean
• 28:27
  on
• 28:27
  this.
• 28:29
  So
• 28:29
  much
• 28:29
  of
• 28:29
  our
• 28:30
  identity
• 28:31
  is
• 28:31
  built
• 28:32
  around
• 28:32
  what
• 28:32
  we
• 28:33
  do
• 28:33
  for
• 28:33
  money.
• 28:34
  The
• 28:35
  job
• 28:35
  title,
• 28:35
  the
• 28:35
  busyness,
• 28:36
  the
• 28:36
  sense
• 28:36
  of
• 28:37
  being
• 28:37
  needed.
• 28:38
  I
• 28:38
  know
• 28:38
  I
• 28:38
  fall
• 28:39
  into
• 28:39
  this
• 28:39
  trap.
• 28:39
  To
• 28:40
  this
• 28:40
  day.
• 28:40
  I
• 28:41
  love
• 28:41
  feeling
• 28:41
  needed.
• 28:42
  Why
• 28:42
  do
• 28:42
  you
• 28:42
  think
• 28:43
  I'm
• 28:43
  in
• 28:43
  a
• 28:43
  job
• 28:43
  where
• 28:44
  I
• 28:44
  try
• 28:44
  to
• 28:44
  help
• 28:44
  people
• 28:45
  by
• 28:45
  explaining
• 28:46
  money
• 28:47
  and
• 28:47
  how
• 28:47
  to
• 28:47
  make
• 28:48
  their
• 28:48
  money
• 28:48
  lives
• 28:48
  easier?
• 28:49
  I
• 28:49
  have
• 28:50
  found
• 28:50
  an
• 28:50
  outlet
• 28:50
  for
• 28:51
  my
• 28:51
  chronic
• 28:51
  people
• 28:52
  pleaser
• 28:52
  tendencies.
• 28:53
  But
• 28:54
  so
• 28:54
  many
• 28:54
  of
• 28:54
  us
• 28:55
  do
• 28:55
  that
• 28:56
  in
• 28:56
  some
• 28:56
  form
• 28:57
  through
• 28:58
  our
• 28:58
  jobs.
• 28:59
  We
• 28:59
  feel
• 29:00
  important
• 29:01
  or
• 29:01
  needed.
• 29:02
  Or
• 29:02
  we
• 29:02
  just
• 29:03
  give
• 29:03
  our
• 29:03
  life
• 29:03
  structure
• 29:04
  and
• 29:04
  meaning
• 29:05
  through
• 29:05
  our
• 29:06
  work
• 29:07
  and
• 29:07
  yet
• 29:08
  can
• 29:09
  feel
• 29:09
  quite
• 29:09
  trapped
• 29:10
  and
• 29:10
  overwhelmed
• 29:11
  by
• 29:11
  that
• 29:12
  at
• 29:12
  times.
• 29:13
  So
• 29:14
  when
• 29:14
  that
• 29:14
  financial
• 29:15
  pressure
• 29:16
  and
• 29:16
  necessity
• 29:17
  is
• 29:17
  lifted,
• 29:19
  almost
• 29:20
  everyone
• 29:20
  who
• 29:21
  hits
• 29:21
  level
• 29:22
  five
• 29:22
  finds
• 29:23
  they're
• 29:23
  suddenly
• 29:24
  smacked
• 29:24
  in
• 29:24
  the
• 29:24
  face
• 29:25
  with
• 29:25
  an
• 29:25
  identity
• 29:26
  question
• 29:26
  that
• 29:26
  they
• 29:26
  hadn't
• 29:27
  prepared
• 29:27
  for.
• 29:28
  What
• 29:28
  do
• 29:28
  I
• 29:29
  actually
• 29:29
  want?
• 29:31
  What
• 29:31
  does
• 29:31
  a
• 29:31
  good
• 29:32
  day
• 29:32
  look
• 29:32
  like
• 29:33
  when
• 29:33
  I'm
• 29:34
  the
• 29:34
  one
• 29:34
  designing
• 29:35
  it?
• 29:36
  The
• 29:37
  people
• 29:37
  who
• 29:38
  handle
• 29:38
  this
• 29:38
  moment
• 29:39
  the
• 29:39
  best
• 29:40
  are
• 29:40
  the
• 29:40
  ones
• 29:40
  who
• 29:40
  started
• 29:41
  asking
• 29:41
  those
• 29:41
  questions
• 29:43
  long
• 29:43
  before
• 29:43
  they
• 29:44
  arrived
• 29:44
  at
• 29:45
  level
• 29:45
  five.
• 29:46
  They're
• 29:46
  the
• 29:46
  people
• 29:47
  who
• 29:47
  had
• 29:47
  been
• 29:48
  slowly
• 29:48
  building
• 29:48
  a
• 29:49
  picture
• 29:49
  of
• 29:50
  what
• 29:50
  a
• 29:50
  well
• 29:50
  lived
• 29:51
  life
• 29:51
  looks
• 29:52
  like
• 29:52
  for
• 29:53
  them,
• 29:54
  not
• 29:54
  just
• 29:55
  accumulating
• 29:55
  resources
• 29:56
  to
• 29:57
  fund
• 29:57
  it.
• 29:57
  There's
• 29:58
  a
• 29:58
  little
• 29:58
  saying
• 29:58
  that
• 29:59
  I
• 29:59
  think
• 29:59
  helps.
• 30:00
  And
• 30:00
  it's
• 30:00
  the
• 30:01
  idea
• 30:01
  that
• 30:01
  you
• 30:01
  want
• 30:01
  to
• 30:02
  retire
• 30:03
  to
• 30:03
  something,
• 30:04
  not
• 30:05
  from
• 30:05
  something.
• 30:07
  What
• 30:07
  is
• 30:07
  your
• 30:08
  good
• 30:08
  life?
• 30:09
  What
• 30:09
  are
• 30:10
  you
• 30:10
  doing
• 30:10
  all
• 30:10
  of
• 30:10
  this
• 30:11
  for?
• 30:11
  And
• 30:12
  that
• 30:12
  actually
• 30:12
  clarifies
• 30:13
  the
• 30:13
  financial
• 30:14
  goals
• 30:14
  too.
• 30:15
  And
• 30:15
  what
• 30:15
  you'll
• 30:15
  need
• 30:16
  to
• 30:16
  get
• 30:16
  there.
• 30:16
  Because
• 30:18
  once
• 30:18
  you're
• 30:19
  honest
• 30:20
  about
• 30:20
  that
• 30:20
  answer.
• 30:21
  Maybe
• 30:21
  the
• 30:22
  money
• 30:22
  you
• 30:22
  need
• 30:22
  for
• 30:22
  it
• 30:23
  is
• 30:23
  less
• 30:24
  than
• 30:24
  you
• 30:24
  thought.
• 30:25
  Maybe
• 30:26
  you
• 30:26
  want
• 30:26
  to
• 30:26
  keep
• 30:26
  working
• 30:27
  just
• 30:28
  in
• 30:28
  meaningful
• 30:29
  work
• 30:29
  on
• 30:29
  your
• 30:29
  terms
• 30:30
  and
• 30:31
  that
• 30:31
  would
• 30:31
  be
• 30:31
  part
• 30:31
  of
• 30:31
  your
• 30:32
  good
• 30:32
  life.
• 30:33
  Or
• 30:33
  maybe
• 30:33
  you
• 30:33
  don't.
• 30:34
  Maybe
• 30:34
  you
• 30:34
  want
• 30:35
  to
• 30:35
  volunteer
• 30:35
  for
• 30:35
  a
• 30:36
  cause
• 30:36
  that
• 30:36
  you
• 30:36
  really
• 30:37
  care
• 30:37
  about,
• 30:37
  but
• 30:37
  there's
• 30:38
  no
• 30:39
  way
• 30:39
  there
• 30:40
  would
• 30:40
  ever
• 30:40
  be
• 30:40
  money
• 30:40
  in
• 30:41
  it.
• 30:41
  Or
• 30:42
  maybe
• 30:42
  you
• 30:42
  want
• 30:43
  to
• 30:43
  be
• 30:43
  able
• 30:43
  to
• 30:43
  spend
• 30:44
  as
• 30:44
  much
• 30:44
  time
• 30:44
  as
• 30:44
  possible
• 30:45
  with
• 30:45
  your
• 30:45
  kids
• 30:46
  while
• 30:46
  you
• 30:46
  can.
• 30:47
  Or
• 30:48
  you
• 30:48
  want
• 30:49
  to
• 30:49
  have
• 30:49
  a
• 30:49
  ridiculous
• 30:50
  time
• 30:50
  consuming
• 30:51
  hobby
• 30:52
  and
• 30:52
  also
• 30:52
  hike
• 30:53
  every
• 30:53
  morning.
• 30:53
  Look,
• 30:54
  whatever
• 30:54
  your
• 30:54
  good
• 30:54
  life
• 30:55
  looks
• 30:55
  like
• 30:55
  to
• 30:55
  you,
• 30:56
  it
• 30:56
  could
• 30:56
  be
• 30:56
  so
• 30:57
  different
• 30:57
  from
• 30:58
  what
• 30:58
  everyone
• 30:58
  else
• 30:59
  wants.
• 30:59
  What
• 31:00
  matters
• 31:00
  here
• 31:01
  is
• 31:01
  that
• 31:01
  you
• 31:01
  could
• 31:02
  do
• 31:02
  it
• 31:02
  entirely
• 31:03
  on
• 31:03
  your
• 31:03
  own
• 31:03
  terms.
• 31:04
  No
• 31:05
  fear,
• 31:06
  no
• 31:06
  pressure.
• 31:07
  Just
• 31:07
  creating
• 31:08
  the
• 31:08
  life
• 31:08
  that
• 31:09
  you
• 31:09
  want
• 31:10
  without
• 31:10
  money
• 31:11
  getting
• 31:11
  in
• 31:11
  the
• 31:11
  way.
• 31:12
  That
• 31:13
  is
• 31:14
  what
• 31:14
  level
• 31:14
  five
• 31:15
  actually
• 31:16
  feels
• 31:16
  like.
• 31:17
  Not
• 31:18
  the
• 31:18
  absence
• 31:19
  of
• 31:19
  work,
• 31:21
  the
• 31:21
  true
• 31:22
  absence
• 31:22
  of
• 31:22
  fear.
• 31:24
  And
• 31:24
  it
• 31:24
  is
• 31:24
  that
• 31:24
  fear
• 31:25
  and
• 31:25
  pressure
• 31:26
  lifting
• 31:26
  off
• 31:26
  more
• 31:27
  and
• 31:27
  more
• 31:28
  through
• 31:28
  all
• 31:28
  of
• 31:29
  these
• 31:29
  different
• 31:29
  levels
• 31:30
  that
• 31:31
  is
• 31:32
  really
• 31:32
  the
• 31:32
  point
• 31:32
  of
• 31:33
  this.
• 31:34
  Sure,
• 31:34
  it's
• 31:34
  money,
• 31:35
  but
• 31:35
  it's
• 31:35
  using
• 31:36
  money
• 31:36
  to
• 31:36
  build
• 31:36
  a
• 31:36
  life.
• 31:37
  And
• 31:38
  the
• 31:38
  levels
• 31:38
  framework
• 31:39
  is
• 31:39
  important
• 31:39
  because
• 31:40
  I
• 31:40
  truly
• 31:41
  don't
• 31:41
  believe
• 31:41
  that
• 31:41
  financial
• 31:42
  freedom
• 31:42
  is
• 31:42
  a
• 31:43
  single
• 31:43
  destination
• 31:44
  that
• 31:44
  you
• 31:44
  just
• 31:44
  arrive
• 31:45
  at
• 31:45
  one
• 31:45
  day.
• 31:46
  You
• 31:46
  build
• 31:47
  more
• 31:48
  and
• 31:48
  more
• 31:49
  freedom
• 31:49
  in
• 31:49
  a
• 31:49
  series
• 31:50
  of
• 31:50
  shifts,
• 31:51
  each
• 31:51
  one
• 31:52
  making
• 31:52
  your
• 31:52
  life
• 31:53
  better,
• 31:54
  a
• 31:54
  little
• 31:54
  bit
• 31:54
  less
• 31:55
  constrained,
• 31:56
  a
• 31:56
  little
• 31:56
  bit
• 31:56
  more
• 31:57
  yours.
• 31:58
  And
• 31:59
  you
• 31:59
  can
• 31:59
  start
• 31:59
  today
• 32:00
  with
• 32:01
  level
• 32:01
  one.
• 32:02
  Just
• 32:02
  the
• 32:02
  numbers.
• 32:03
  So
• 32:04
  that's
• 32:04
  it.
• 32:04
  If
• 32:04
  this
• 32:05
  episode
• 32:05
  helped
• 32:05
  you,
• 32:05
  send
• 32:06
  it
• 32:06
  to
• 32:06
  a
• 32:06
  friend
• 32:06
  so
• 32:06
  that
• 32:07
  we
• 32:07
  can
• 32:07
  all
• 32:07
  level
• 32:07
  up
• 32:07
  our
• 32:08
  money
• 32:08
  together.
• 32:08
  Until
• 32:09
  next
• 32:09
  time,
• 32:09
  have
• 32:10
  a
• 32:10
  great
• 32:10
  day.
• 32:12
  This
• 32:12
  podcast
• 32:12
  can
• 32:13
  only
• 32:13
  give
• 32:13
  you
• 32:13
  general
• 32:14
  information
• 32:14
  about
• 32:14
  how
• 32:15
  things
• 32:15
  work
• 32:15
  in
• 32:16
  most
• 32:16
  situations.
• 32:17
  It's
• 32:17
  not
• 32:18
  individual
• 32:18
  financial
• 32:19
  advice.
• 32:19
  If
• 32:20
  you're
• 32:20
  after
• 32:20
  that,
• 32:20
  a
• 32:21
  financial
• 32:21
  advisor
• 32:22
  is
• 32:22
  always
• 32:22
  the
• 32:23
  best
• 32:23
  bet.