Something I didn’t realise would happen as I paid myself first is the momentum that would build once my savings became too large to touch.
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Hi Guys, Ryan here from on-property dot com dot EU, and in this episode I want to talk about how you don’t need to be financially free in order to quit your job and to live the life of your dreams. So how does that work? That’s what I’m going to be talking about in today’s episode. VII, May. My name is Ryan. As I said, I run on property dot condo. You, I help people find and invest in positive cash flow properties. And today I want to debunk the myth that you need to be financially free. In order to quit your job. You need to be financially free in order to live the life that you want to live because it’s actually not true. And so this idea comes out of the video that I did with Ben Everingham on two properties to financial freedom. So if you haven’t watched that video, you need to go ahead and check that out.
That’s an on-property dot com. Dot Eu four dash five. Oh, eight. So go ahead and check that out if you haven’t checked it out already. But there’s, that’s the idea that there’s a way to invest where the properties themselves will work for you and go on to create the financial freedom for you. So you don’t need to work hard, strive for 15, 20 years to create the financial freedom. The properties are going to do that for you. They’re going to be your little minions in the background working for you. So most people, the way they invest is they’re investing for capital growth or trying to grow their properties. They’re selling properties, buying new ones. It’s negatively geared, so they’ve got to keep paying for it. Kate, working to pay for it. This idea suggests that you invest in properties that pay for themselves, so positive cash flow properties.
And what we talk about in that episode is you buy two high quality houses and you build a granny flat on each of those. So you’ve got to high quality properties with, for incomes coming in, your positive cashflow. So it’s paying for itself and paying off the debt. And so what happens is, let’s say you’re working in a job you hate, but you’re earning good money, right? So you use that to save your deposits and to borrow money from the bank and to buy these properties. So you buy the two properties, you build the granny flats, but then these properties and now working for you and these properties are positive cashflow so they’re paying for themselves. So they’re going to pay themselves off over time. If you’ve got a 25 year line, they’re going to pay off that loan over time just because the rental income coming in is more than the expenses.
So once you own these properties, you can just let them do their thing. Girl, I just leave them to it. They’re going to go ahead and do their thing. They’re working for you to create financial freedom. And so rather than investing with this mindset of I’ve got to actively create my own financial freedom that I need to be, you know, playing the market, looking for capital growth or this sort of stuff. No. If you just spend a couple of years buying these high quality properties, getting these granny flats in as well, and you don’t even have to do granny flats, you can just buy positive cash flow properties, that’s fine, but yeah, if you spend time doing that, once you purchase those properties, you don’t need that high paying job anymore. You’ve got these properties that are working for you. They’re paying for themselves. They are going to go on and just work behind the scenes and deliver you financial freedom in the future.
So you’ve got this base, these foundational properties that will deliver financial freedom so you have financial freedom, but not yet. So it’s going to happen in the future, but it’s just not happening right now. And so what most people will do is they’ll then just white. They’ll wait until the properties pay themselves off and they’re financially free and so they’ll work in their jobs for another 10, 15, 20 years doing something they hate and seriously, life is so short to be doing that. I remember working in pharmacy, working with a pharmacist. She was 55 years old heights, hated her job. Absolutely hated it. Being a pharmacist. I like, why don’t you go and do something else? And she’s like, Oh, I’ve only got 10 years left. So what’s the point? Like 10 years. Are you freaking kidding me? Ten years. You’ve only got 10 years, only 10 years. Ten years is a fucking long time. Oh, I just hate seeing people waste so many years of their lives. Like it’s just dumb. So dumb. Anyway, sorry for the outbursts there,
but yeah, so most people will wait until they financially free in order to change their life in order to move somewhere new. Like I’m in Noosa where I am now, I might turn around actually start heading back. So most people wait until they’re financially free, but what you can do is now that you don’t need that high paying job because you got the properties that are paying for themselves, they’re going to go on to pay themselves off. You can now start to explore other ideas. You can start to explore other ways to live your life, other ways to earn an income. You could go back and study, you could work in a job and take a pay cut, you know, you can change your lifestyle, you can move into a van, work on the road, do that sort of stuff, because one of the things that draws people to stay in their job so much is this idea that they need to set themselves up for retirement.
But you’re already set up for retirement, right? So now you don’t need to do that because the properties are going to do it for you. So now’s your opportunity to go, okay, well what do I love to do? What’s the sort of job that I would love to do? And you might need to adjust your life. You might need to take a pay cut. You might need to live in a crappy area or something like that, but you get to pursue something that you love and you know that you’re going to be financially free in the future. So rather than working in a job that you hate, that’s not bringing you happiness. And remember that person 10 years, only 10 years left. Are you really going to spend one of those years working in a job that you hate and you’re giving your best productive hours, your best creativity into this job as well?
So instead of doing that, you know you’ve got your future set up, so why not go and do something else? Why not go and pursue something that you love? So that’s it for today’s video. You don’t need financial freedom in order to quit your job. Truthfully, you could do this anyway without even having the foundational properties without having it setup. Heck, that’s exactly what I did. Look risky. I had two kids at the time. I was a pharmaceutical rep earning six figures a year, free car, free petrol, all that good stuff. Quit that job in order to start my own business and relocated my family up to Queensland to the Gold Coast at the time. So I did this anyway. Even if I didn’t have financial freedom in the future, I did it anyway and Oh my God, am I so happy that I did.
We were on the central coast just north of Sydney at the time. We moved up to Gold Coast and since then have moved up to Noosa. The weather up here is amazing. Like it’s as I’m recording this, what is the start of May as I’m recording this, I’m on the beach today. I’m in a light jumper. I could actually go swimming in my board shorts. It’s that warm. Um, was that the beach swimming the other day? The weather up here is awesome. And so that makes me really happy. So I’m so stoked that I did that. Oh my gosh. I think I don’t even know what path to go up to get home. Is that, that one? Is that the one I came down? Maybe it’s the next one. I don’t know. Say Yeah, I did this without financial freedom. Obviously there’s a much higher risk associated with that.
It worked out for me. I worked my ass off to make it happen. Um, but yeah, you don’t need financial freedom to quit your job, build that wealth if that’s what you want, and then go ahead and be courageous and to something that you love because if you do something that you love, if you invest into it, if you’re creative, if you’re a problem solver, then it’s just probably going to be a better life for you to be honest. So stop caring about the money, too much care about what you’re spending your time on. And if you have that financial security for the future anyway, then you don’t need to care about the money and that doesn’t need to drive you. So I wish you the best of luck with this. Obviously this is a bit challenging for some people to say stop it. Stop working in a job that you studied at uni for another story.
Okay. I was going to finish the video, but another story, another pharmacist friend, because I worked in pharmaceuticals, I’m someone that I used to be with one of the, one of my best friends in my life actually. She’s awesome, but she had massive trouble leaving the pharmaceutical industry, which she wasn’t super passionate about because she had a pharmacy degree because she’d done five years of study in order to be a pharmacist. She was like 30 or something like that and it’s just like too scared because you know, the jobs, if she was going into a new industry wouldn’t pay as well as to what are you gonna do, you’re 30, 35 years in the industry who doesn’t like because you spent five years studying, like that’s a terrible tradeoff. Thirty five years because you made a mistake years ago and studied the wrong thing. Don’t, don’t be that person guys.
Go hope this challenges you today to go and do something different. Um, yeah. What do you think about these videos, by the way? What do you think about Maine talking about these kinds of controversial topics? Like they’re not that controversial, but just this challenging sort of stuff where I’m challenging you guys and would you be interested in one on one sessions with me challenging you personally about your own life and what you’re doing? Because that’s something that I did with Ben Everingham unintentionally four years ago. We did an interview, so if you don’t know Ben, he’s from pumped on property. We do heaps of videos together. We worked really closely together, but something that happened with us is that four years ago we did an interview where I talked to interviewed info on property about his property portfolio. We’ve got on pretty well, so we met up for coffee basically.
I challenged him on his life and he’s like, yeah, I want to be earning 300 grand a year on the side before I quit my job. I’m like, you’re an idiot. Not inside that. I’m not that route. Don’t worry. It was just like, why? To like why? You’re obviously a very capable person. He was already financially free through his properties, so not a high level of financial freedom, but enough. I was like, you’ve already got your bases covered. If you quit your job today, you can get by, you can feed your children. You have a house to live in, Reno. We paid all of that sort of stuff. You won’t have an expensive life, but you’ll be fine. And then worst case scenario, you start a business. So he wanted to start a buyers agency. Worst case scenario, you start a business and if it doesn’t work, yeah, then you just go back and work in a marketing job like you were doing before and you haven’t really lost anything but at least you tried.
And so I just had this conversation. I didn’t really think much about it. I just like challenged him to think about his own life. Think an email from him like a week later or something. It’s like, dude, I’ve quit my job and it’s all because of you, like what? This random person quit their job because of me. Um, but yeah, if that’s something you guys will be interested in, like one on one sessions where we can talk about your life and I can kind of challenge you on your stuff and just help you try and think differently. That will be something that I would kind of be interested in. And if anyone’s interested in that, let me know. My email is reiner on. Actually, no, let’s, let’s make a link for it. Go to what are we going to do on property.com.edu forward slash challenge. So on property you don’t come to you for us as challenge, if you go there, I’m going to put a form on there if you’re interested in getting me to consult with you to having a one on one session where we get real on your dreams. Try and work out what your dreams are, what’s holding you back, what things in your life, um, you think are important and probably aren’t. Yeah, that’s something that you want to do. Go to on-property dot com dot EU for that’s challenged and we can set something up for that. That’s it for me today guys. Until next time, stay positive.