The Lazy Money Machine Podcast

LMM42 – Are you working harder on yourself than you are on your job?

A lot of people invest a lot of time in their work, but how many of them invest in themselves? It ain’t easy. In this episode of the Lazy Money Machine Graham and Erik discuss what the challenge is, in particular the challenge of running out of energy. It’s not easy to invest in yourself when you are depleted from a day of work and committing.
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LMM41 – Vagabonding: is it possible to be location independent?

Rolf Potts was a little known author who inspired a big movement. If it wasn’t for Potts, we wouldn’t have Tim Ferris then what would we talk about this week? In this episode, we discuss what Vagabonding really is and pull apart some of the BS myths that hold people back from achieving their dream lifestyles.
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LMM40 – Zig Ziglar & Jim Rhon the Power of Dreams

You have to dream. In today’s Lazy Money Machine we listen to the wisdom of Jim Rohn, Rohn was influential in later shaping the work of people like Tony Robbins. In this podcast, we discuss what Rohn’s message was and also listen to Zig Ziglar on dreams and how it impacts our lives.
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LMM39 – People don’t want to be millionaires, they want the experiences they think a million dollars can buy

It’s Tim Ferriss back again we’re on a Tim riff this week. This time we’re pulling apart wisdom from his bestseller “The 4 Hour Workweek”. Do we want to be millionaires or is it the experiences we think a million dollars will buy that we’re really chasing? It’s important to know the distinction because chasing the wrong goals in life is a surefire formula for unhappiness.
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LMM38 – What can’t you achieve your 10 year plan in the next 6 months?

This is a scary question. It’s one asked by Tim Ferriss in his podcast. In today’s Lazy Money Machine Graham and Erik discuss how asking these big questions can sometimes create rapid change in your life.
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LMM37 – If you want to do something amazing, commit

Sometimes just having a big fat goal isn’t enough. Sometimes we need the fear of letting people down to get us over the finish line. In this podcast we listen to the wisdom of Nick Vujicic, a man born without either arms or legs. Does that stop him no? We discuss how committing to a lifestyle or a mission can often be the energy you need to make it happen.
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LMM36 – What would you do if you lost all your possessions in a hurricane?

After Hurricane Irma wiped out homes across South East States, families returned to find their lifelong possessions destroyed. Rather than that being the end of life as we know it, some found that this enforced “declutter” helped them realise what was really important in life. Graham and Erik share their thoughts and experiences on decluttering, and what we really need in life to be happy.
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LMM35 – No Regrets? Really?

It’s trendy to talk about living with no regrets, but is that really possible? In this podcast episode of Lazy Money Machine, Graham and Erik discuss regret as well as research which reveals what people really regret. Turns out that we all kind of regret similar things.
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LMM34 – The 17 Year Old Millionaire who Lives at Home with Mom & Dad

Akshay Ruparelia is just 17 and Britain’s youngest millionaire. He built Doorsteps.co.uk a real estate agent that can sell your house for just £99 (the average cost for traditional agents can be £4000+). What’s inspiring about Akshay is despite owning a business worth £12 million he only pays himself a nominal salary of just £1000 a month and doesn’t yet own a car.
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LMM33 – How to Get Good Financial Advice

Shaquille O’Neal spent $1 million in a day on cars. The next day, he ended up $80,000 “in the hole”, in debt. Shaq’s own rescue came from getting good financial advice. And while there are many sources of financial advice, it’s important to know where to find it. Of course, there are financial advisors (many of whom are in the business of selling you financial products) but you can get some of the best advice from building virtual teams, which we talk about in this podcast.
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LMM32 – If Your Wife or Husband Doesn’t Support Your Life Goals, Maybe You Need a New Partner

What happens if your significant other doesn’t support your life goal? Erik and Graham have differing opinions on this, which we share on this episode of the Lazy Money Machine podcast. Whatever you agree, if you have a husband or wife who doesn’t support your life goals, something needs to be done.
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LMM31 – F1 Racer Nikki Lauda

Former Formula 1 Champion Nikki Lauda is Black and White in his approach to life, success and money. Lauda lives an examined life questions what’s good, what’s bad in his life and makes conscious decisions about these influences. If someone isn’t good for his life, he locks them out. If he doesn’t have a private jet, he remains unaffected. If Donald Trump is on Twitter, he does the opposite. That’s tough. You have to be constantly aware of what’s going on and making decisions about what’s goo...
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LMM30 – Can You Live Without TV?

According to this article in The Ringer , there are plenty of TV series that we resent because we can’t stop watching them and they waste our time. In this episode of The Lazy Money Machine, we discuss how we manage media in our lives. If something wastes your time, turn it off. We can’t live without TV and other forms of media, but we can cut out what doesn’t work and double down on what does.
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LMM29 – How Mike Tyson Spent $400,000 a Month on Pigeons and Cats

Mike Tyson went from being fabulously wealthy to losing it all. Here’s a guy whose monthly outgoings included  $400,000 a month on “Pigeons and Cats” ?? In this episode of the Lazy Money Machine we discuss why surrounding yourself with the right people is key to getting good financial advice.
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LMM28: How to Keep Moving Like Jagger

Mick Jagger’s pretty old now what 73?74?75? I’m not entirely sure. But, what we do know is he’s living a pretty charmed life he’s making a couple of hundred million dollars a year touring, he’s rocking massive crowds regularly, and he’s just become a dad in his 70s. Who said middle aged life was boring? Mick’s not even middle aged. He’s Gramps. Why is it critical to live your life “live” on a regular basis? Who are your crowd and how do you get out in front of them? Answer these questio...
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LMM27: Is $1 million enough to retire?

Apparently $1 million won’t last you very long. In some US states (like Hawaii) only 13 years. In cheaper states (Mississipi) 25 years. Either way, if you’re going to live beyond 70 or 80 (which you probably will) you’re royally screwed. In this podcast, we discuss why traditional retirement planning is screwed, how much money you really need and how to start taking measures into your own hands.
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LMM26: Are you suffering from too much information?

In this podcast, our main man Tony Robbins reminds us that too much information is not a good thing. There comes a time when you need to act. Get started, no matter what the consequences. It’s easier to steer a moving bicycle.
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LMM25: Surround yourself with risk-takers

We talk a lot on Lazy Money Machine about the importance of surrounding yourself with the right people. You end up absorbing the values and norms of the people you hang around with, whether you like it or whether you are conscious of it or not. Maintaining the right company is critical to your success. How they think and do influences how you think and do. In this podcast we listen to Mark Zuckerberg talking about the importance of risk and taking action. Imagine what your outlook would...
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LMM24: Is Instagram fake?

You’ve seen those pics of people on Instagram sitting in their private jets right? You wonder, where’s my private jet? Well, it turns out you can hire a grounded private jet for a photo session in Russia for $250 an hour. You then get all the private jet bling bling photos you want. In this podcast, we discuss our views on social media, how to double down on what works for you and drop what doesn’t. We also discuss why we’ve both tuned out channels like Instagram and what that does for ...
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LMM23: Focus on your craft

Eminen is, apparently, the most lyrical musician of all. According to a recent survey, he uses 8,800 unique words in his lyrics. Bob Dylan only came 5th in the list, with half as many words. Eminem’s not particularly educated in the traditional sense, but this highlights the difference between life-long education and schooling. Life-long education is what we all need, regardless of our backgrounds. Work on your craft, invest heavily in your skill that makes you unique. Doesn’t matter wh...
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LMM22: Focus on assets that create passive income

There’s a lot of chatter out there about what you need to do, what you need to have, what you need to be… to become wealthy. We hear about “find your passion”, find you “why” etc etc. But all this is bullshit if you don’t have financial freedom first. There are as many listicles, courses and books out there as different ideas to keep you confused and distracted. In this podcast, we reduce it down to one thing. This is the ONE THING you need to focus on if you want to be successfully wea...
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LMM21: Property doesn’t give a sh*t who you are

Donald Trump love him or loathe him. The truth is that his family’s success is testament to real estate property’s neutrality. In fact, unlike almost any endeavour in life, property doesn’t give a sh*t. It really doesn’t: you could be black, white, old, young, lesbian, vegan or Donald Trump. No matter who you are, property will make you money. And that’s the beauty of it all. You don’t need to wait to get promoted, to get the permission of others or to justify who you are. As long as you f...
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LMM20: Sell all your posessions and buy Bitcoin?

39-year-old dutchman, Didi Taihuttu, sold everything he owned to buy Bitcoin lives very modestly in the Netherlands and spends all his savings on bitcoin. He hopes to keep this lifestyle up till 2020 at which point he hopes to cash out at three to four times the price he paid for it. Graham and I discuss whether this is a smart strategy and if you should invest in bitcoin at all.
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LMM19: How to set rules to recapture the magic of small things in daily life

Are we too worried about the past, stressed about the future? In this episode of the Lazy Money Machine we share an audio clip from Johnny Depp. Depp reminds us of the constant pressures we all face to live our lives split between the past, present and the future. Are we slowly losing the skill of "being present"? Are we addicted to our smartphones, multitasking and always being someone else? Simple changes can make a difference like not bringing the phone into your bedroom or banning p...
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LMM18: When hard work becomes a joy

In this episode of the Lazy Money Machine we talk about the importance of hard work. Elon Musk, founder of Paypal, Space X and Tesla works pretty hard. He says you need to work hard to stand a chance. He’s right, even if you hit that home run and become mega rich, you’ll probably spend the rest of your days working hard. Why? Because you love doing it. Erik and I work pretty hard. We work long hours. But, we never wake up and think “Oh God! I have to go to work today”. That’s the life I...
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LMM17: There are no bad ideas, get over it.

There are no bad ideas out there, get over it. Stop waiting for perfect. Get started. In this episode of the Lazy Money Machine we start with some advice from the late Steve Jobs. He reminds us that ideas are good but it’s your ability to get off your ass and make ideas happen that’s more important. It’s easy to take credit for the thinking. Don’t get hung up on finding the right idea or the right moment to get started in your projects. We share our experience in getting started in real...
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LMM16: “What makes you happy” is worth fighting for

Like our friend Arnold Schwarzenegger who featured on our Lazy Money Machine show a few episodes back, we’re always interested in people who secure their financial future despite an obvious lack of resources. Sylvester Stallone is another example. Like Arnie he wasn’t born into money, education or privilege. In this episode of the Lazy Money Machine, we talk about how Sly made some pretty smart financial moves even though he didn’t have an MBA or graduate from Stanford. Sly is long on p...
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LMM15: Are You Prepared to Live a 100 Year Life?

The 100 Year Life is a book written by Lynda Gratton and Andrew Scott. The book challenges us to think about what life is going to be like *if* we live to 100 (and beyond). The key here is *if* we live to 100. The data shows that 50% of kids born in 2007 will live to 103-107 (varies by country). I say “challenges” us because as we discuss in this podcast episode, we don’t get time to think about the implications of this. If you live to 100+ and are saving 10% of your income every year into...
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LMM14: Richard Branson on why your network is key to your success

Richard Branson is one of the world’s most famous entrepreneurs. He regularly preaches the need to fail and the mindset of “just do it”. These are great starters, but are these enough to succeed as an entrepreneur? In this podcast we look at why passion and hard work are just not enough to succeed, and are the formula for many entrepreneurial failures. We discuss the secret of Branson’s success (which is not passion and hard work by the way) and how it’s important to focus on developing this ...
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LMM13: Boris Becker Bankruptcy

You can be an MBA, a super-smart Google engineer or even a 6 times Grand Slam Tennis Champion it doesn’t matter when it comes down to financial independence. In today’s Lazy Money Machine podcast we discuss why so many superstar athletes go bankrupt (today is Boris Becker), and why it’s Finanical Intelligence (not money in the bank) that assures your long term freedom.
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LMM12: The Power of Failure and Saying “No”

In today’s Lazy Money Machine we take on board some of celebrity chef Jamie Oliver’s business advice. Jamie has had his fair share of failures, but each failure has taught him something. Importantly, failures have taught him the power of saying “no” to new opportunities. In this podcast, we discuss why it’s important to learn how to embrace “no” rather than constant “yes” in our lives to grow.
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LMM11: Bears make money, Bulls make money, Pigs get slaughtered

It’s an old investor’s saying, “Bears make money, Bulls make money but Pigs get slaughtered.” On today’s Lazy Money Machine we discuss media coverage of an “impending” stock market crash (they always happen in October apparently). We also discuss how stocks compare to real estate assets, why you shouldn’t be overly concerned about impending market doom and also the importance of investing in both stocks *and* real estate (but for different strategic reasons).
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LMM10: You are the sum of the 5 people you hang around with

I can't overestimate the importance of the people you regularly associate with.
  • If you want to be successful, you need to hang with successful people.
  • If you want to be frustrated and unhappy, hang with people who are frustrated and happy.
Think about how your friends, coworkers and family are shaping your behaviors, beliefs and norms right now. In this episode of Lazy Money Machine we review the Joe Rogan podcast and his recent interview with Russell Brand, where th...
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LMM9: Pension funds are screwed, and why you should build your own

According to a recent report, up to 3 million people in the UK alone will retire with less money in their pension plan than they were promised. In this episode of The Lazy Money Machine, we discuss our own financial situations and why you can never rely on others to look after you in your old age. The days of the “final salary” retirement fund (pension or 401k) are coming to an end. What’s scary is the demographic fundamentals it’s only going to get worse. There are more old people, and...
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LMM8: Ideas are worthless, you have to make ideas happen

Gary Vaynerchuck is all about hard work and hustle. He believes that you can never earn success without these two character traits. The problem is that many entrepreneurs get hung up on the “idea” thing. “I have this great world-changing idea”. Ideas are worthless, what matters is execution. As Gary Vee explains in this audio clip, your ability to get out there and turn an idea into reality is far more important than the idea itself.
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LMM7: Financial Freedom doesn’t come from money in the bank

Many of us have, mistakenly, set arbitrary life goals like “I want $1,000,000 in my bank account.” Having 1 million bucks of cash is good. It’s better than having none. But, having 1 million bucks, or any amount of money for that matter, won’t make you financially free. There’s a reason for this. Mike Tyson earned over $680 million during his lifetime but famously filed for bankruptcy in 2003. How is this possible? How can someone who earned nearly three quarters of a BILLION bucks in thei...
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LMM6: Be a Rock Star not a Politician

"Never play to the gallery Never work for other people” advice from Rock Star the late David Bowie. Bowie’s advice is as applicable to property investing as it is to life or any endeavour. If you want to be successful (and happy) you have to follow your instincts and do what is naturally uncomfortable. If you edit your life like a Politician; if you play to the audience; if you try to garner 50% of the popular vote; you will only ever be “liked” rather than “loved”. After all, who cries when ...
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LMM5: The education system doesn’t prepare you for financial independence

There is a difference between schooling and education. Schools don’t teach financial education: either the system doesn’t want you to or there aren’t the right people teaching these issues. Education really starts when you leave school. Education is about equipping yourself with the skills to be self-reliant.
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LMM4: Visualizing your ideal life is the most powerful way of achieving your goals

There are 100 days left in 2017 How do Erik & Graham do their goal setting Power of visualization Find a method of goal setting that works for you. Goal setting gives you permission to achieve it
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LMM3: Don’t rely on cheap interest rates to make your investments work

Interest rates are at historic lows and historically they will go back to long term average rates. Low interest rates but you can’t rely on and control them. A professional investor will build potentially higher interest rates into the model to see if it works long term.
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LMM2: Buying the home you live in isn’t an investment, it’s a liability

Good investments are assets that create positive cashflow. What looks like an investment (large upfront payments, long time lines) isn’t necessarily an investment. Learn the key difference between amateur and professional investors.
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LMM1: Building a business is a journey: don’t take that journey alone

The journey itself (not necessarily the destination) is the best reason to start any endeavour. Your success is dependent on the people you hang out with. Find the right people to hang out with and the journey will become significantly more fun and rewarding.
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