I recently had the privilege of once again sitting down with my friend Mick Hawes on the Toolshed podcast for what turned out to be more than just a conversation—it was a chance to dive deep into what it really takes to achieve financial freedom.
Why This Podcast Episode Is a Must-Listen:
My own journey hasn’t been straightforward. From enduring the high-pressure environment of the corporate world to navigating the path to financial independence as an immigrant, I’ve learned some hard but valuable lessons. These experiences have shaped my approach to money management and investing, and I shared these insights openly in the hope that they can inspire and guide you too.
Investing, in particular, has been a game-changer for me. Adopting a contrarian investment philosophy has enabled me to not just survive but thrive through market volatility. This approach isn’t about following the crowd; it’s about seeing the opportunities where others see obstacles and making informed decisions that lead to substantial growth. I’m keen to pass on this knowledge because I believe it can make a real difference in your financial strategy.
But perhaps most importantly, I talked about how financial freedom is more than just accumulating wealth. It’s about creating a life where you’re not constantly weighed down by financial worries—a life where you have the freedom to make choices that bring you joy and fulfillment. It’s about making your money work for you, and during our conversation, I outlined actionable steps you can take to start this journey, regardless of where you are right now.
So, I’m inviting you to take some time to listen to this episode. Whether you’re already on your path to financial freedom or just starting to think about your financial future, I believe there’s something in our discussion for everyone. It’s an opportunity to gain insights into smart money management and investment strategies that could truly transform your approach to building wealth.
To your success,
Terry
Topics Discussed In This Episode…
- How financial pressure can magnify other problems and why addressing it is crucial for stability
- The mindset shifts necessary for using business profits to create long-term wealth
- Practical strategies for effective money management and investment
- The difference between liquid and hard assets and why it’s important to have both
- The importance of starting with a small portfolio in investing
- Why focusing on risk management and avoiding losses is more crucial than chasing high returns.
- The advantages of going against market trends to buy undervalued assets and why this approach can lead to significant gains.
- My top actionable tips for aspiring investors
- How to use financial planning tools and assessments to tailor your investment strategy to your personal and business financial goals.
Quotes
- “When you’re under financial pressure, it seems to magnify the consequences of every other problem you’ve got.” – Mick Hawes
- “Slow is smooth and smooth is fast… making sure you’re doing things in the right order.” – Mick Hawes
- “Risk management or actually profits… is always a byproduct of great risk management.” – Terry Tran
- “Anything is risky if you don’t know what you’re doing.” – Mick Hawes
- “The main thing is not losing money… every year, even if you’re making five, 10 percent… it means a lot because if you go backwards, you’re now compounding backwards instead.” – Terry Tran
Relevant Links
- The ToolShed Podcast
- Builders Business Blackbelt
- Free Download – Financial Freedom Number Calculator
- Free Download – Stock Checklist
- Free Download – Investing Style Quiz
- Free Online Masterclass on Building Wealth Outside your Business
