00:03
Hey guys, thank you for listening to our podcast. And we've got one of our graduates that's been doing an internship here at Zenergi, her name's Maya. We're gonna be going through a few questions what's been relevant for the younger generation. So why don't I hand it over to yourself, just to introduce yourself, and then we'll go through a few things we'll learn.
00:29
studying houses in accounting here in this, in Australia for like one and a half year. And in that course, during my study, I got an opportunity to do an internship in General Finance and meet Alan in person and get many, no, there's an idea on a daily basis. So yeah, that's all. Let's start with some learning. So, so far we've asked.
00:58
what's been one of your key learnings. So after meeting you or after being in Genergy, the thing that I learned about the mindset, like whatever you do or whatever thing you pursue in your life, you should have a certain mindset to reach your final destination. Yes, because yeah, strategies we can come up with in Zenergy does provide a lot of different strategies.
01:26
But more importantly, it's the mindset, what prevents us in doing something or what enable us to do something. And more importantly, what's the state or the mindset we need to be to, for that to happen, right? So I know Maya and myself will talk about a bit later on different topics. One of them she mentioned was procrastination. But let me ask you again in a, you know, throughout the course, I know what's been other takeaways that you got from our learnings.
01:57
I got to learn a lot of things about the money, wealth, investment, because during my intensive year I have been very close to the investment sector, I guess so, because I could see many people trying to buy new house or property and they have been investing in multiple properties, how they do it.
02:26
And I think we learned a few things. What are some of the potential things we can do with your money, Maya? We've gone through that. There's probably four ways. Yeah. I guess money brings you the opportunity to be happier. Mm-hmm. Yeah. If that's what you believe, right? Yeah, that's what I believe. Yeah, so of course, right? Because I think when we talk about money, it just makes up more the character that you are, right? So if you're going to be doing more with your money and help more people,
02:55
You will do that but if your money can also go the other way if you want to do not so good things You can magnify you as an individual So I mean the four things we're talking about you remember like what's four things we can do with money to remember Yeah, we can spend good Yes Or invest yes and give back right? Okay So I know you were talking about giving back and it's a bit different to how we handle money before right maybe
03:24
because we don't usually give back and I know you're doing that now, so how does it feel, right, to have that or were you a bit shocked this was the fourth, you know, thing you can do with money? Yeah, because like when we talk about money, it's like earning money, how do you earn money? Like our main focus would be like how to earn money. But after being in this Generous Finance, I got to learn.
03:53
earning money is not everything like how you spend it or how you how much you save or where you invest it like and giving back. Yes and I think you were saying that giving back it just teaches your mind you were saying the psychology that you have more than you you have right to give back so constantly I think we need to practice that because
04:17
If you kind of like keep earning and spending and saving and not do anything else, it doesn't train your psychology. Hey, I've got more than enough. That's the number one and that's where part of the mindset is, right? People always go, oh, no, I don't have anything. I can't give anymore. Well, even if it means a dollar or you tied, right, in your church temple or whatever religious beliefs that it is, then that money is going towards someone else, right? That's making a difference, right? So you talk about and I love it how you said, hey, spending first, right?
04:47
You know, we all would love to spend, right? But if you're spending more than you're earning, then it could be a, and consistently, it could be a pattern that we need to recognize. And this is part of like, you know, the wealth building or how you manage your money, right? So besides money, what else did you gather while you're in Zenergi? Like the working culture. Okay, what's the working culture? Like how you, what we call that, follow up your employees every day.
05:17
you mark down the progress? Yes. Yeah that's what I like and you schedule everything you are so systematic. No I try to but I think there's a reason for it. You know we will talk about I think one of your topics is time management but I think we'll follow up. One mentor always said to me you can't manage anything if you don't measure so you need to measure right so what's the tool and my wife always talks about it's not
05:46
You can record it down through pen and paper, booklet. You can do online, offline. But the key thing is everyone has their own unique way. As long as you follow it, right? That's why the follow-up is important because we often have so many grand plans and we capture it, which is the first step. But how often do we put it in some sort of a management system that we keep ourselves accountable to make sure that's done?
06:09
So I think it's really useful that we have those tools. I can see you've got your book and written it down and you can refer back to, which is fantastic. But I wanna touch on one thing. I think there's another topic around money is having, I believe, a set percentage, right? So yeah, no matter the four things that you do out of 100%, there's a set percentage. So I mean, it's up to you, but if you would like to share with the audience, let's say giving, how much.
06:38
of a set percentage that you're doing, like, since you've been working with us? Yeah, it's like 5%. I have been segregating 5% of my total income every time, so that, yeah, I could give back. Great, okay. Yeah, there's good news. And how about like savings? I mean, if you're percentage-wise, what's the roughly? 50 to 25%. Great, awesome. Okay, so I think like you did ask me before, hey, you know, what's that number, right? The key thing is having a number that works for yourself.
07:07
Right? Because some, like if you're saying, hey, I'm saving 99% and 1%, right? In terms of spending, well, firstly, it's not realistic. Secondly, it's not consistently full of food, right? And thirdly, it would never work because you feel like, oh my God, I'm saving everything, right? And I'm not really enjoying myself spending or even investing. So it's not a, it's a number that you need to commit to, but it's a number that's comfortable for you to commit to on a consistent basis.
07:36
Even if your income was to change, higher or lower is that set percentage. So then you know straight away, you refer to your book, you don't even need to refer to your book, that you know that, hey, I need to do this percentage every time, okay? So yeah, what else? We talked about implementation, so it's great. Your listeners out there that, hey, that's a great concept, or it's not something new that I've heard of, but I think we talked about implementation. So, you know, is that something that, I mean,
08:05
you know, you're implementing now or what's changed, how come you're implementing? Like, what's the reason, what shifted? I'm just curious to know. I have been doing this before I even joined Genergy, like I was segregating my income, like saving certain percentages for the future or for emergency purpose and saving certain percent to give back, but the thing that I implement after being in Genergy is that every day,
08:35
I'm developing a habit to track down the takeaway. Yes. Yeah, my biggest takeaway for a day. So I have been doing that regularly on a regular basis every night. So like before sleeping, I will just review or recap the whole day and try to figure out what are the biggest or what are the best takeaways for me today.
09:05
So, I think I'm something new things. And I think it's really important because when we reflect, like, I mean, in our firm and multiple firms, what's been the biggest win in learnings? We're often, like, so busy in our lives that we're doing things and not reflecting, hey, man, we did achieve a lot, right? So you talked about, like, you know, what is the personal development, right? Part of it, if you're really reflecting, like, a year ago, like, the things that you've taken away or learnings.
09:31
right, and you really read it and you go, wow, how much have I grown as a person? So you'll be very amazed. And that's why I capture that and I still pinch myself to this day, like I looked at things like that, I'd written down 10 years ago. It's like you've changed as a person. I don't know if you know, like our bodies, like probably have renewed every like X amount of like days and so forth because the cells keeps reproducing. And so it's our thoughts.
09:56
But if we keep going to the previous thoughts, you kind of don't really learn and implement. So it's great that you're doing that exercise, right, in terms of implementation. And then, we will be talking about goals and achieving it, but you learn something as well, right? Sometimes I think in your generation, you feel, oh my God, when am I ever gonna get to your level or buy a house, right? So we talk about the big elephant in the room, right?
10:24
So if we were to eat a big elephant, what do we do, Maya? First bite the nails. Okay, chop it down into bite-sized pieces, then bite the nails first. Yeah, what else? Yeah? Step by step. Step by step, right? Step by step. Yeah, so I think, look, there's different techniques, and I feel like, yeah, which you already mastered, but it's important to break it down that it's something realistic and achievable. And also, I'll just add to that, like you said, procrastination.
10:54
You know, we should be doing things, right? But I'm not saying, hey, in this particular moment, you need to do 10 things. And this is where it comes back to time management. Like, you know, are we locking in time aside? Like, for example, if I'm reading, can I really listen to music at the same time, right? The answer's probably no, right? I mean, can I listen to this podcast and, you know, maybe walk? The answer's yes, right? So there's things that you can do at the same time. There's things you may not be able to do at the same time.
11:22
However, once you identify that, when you make your shoo-d's into a must, right? I talked about with my two girls, like why is it a must that you brush your teeth? Right, you brush your teeth because you wanna practice good dental health, right? So if they figure out that hey, they're gonna get a filling or they're gonna lose their teeth, right? That's the pain. They realize that they need to brush their teeth every day. It's a must. So I think we need to break it down into simple as that, right?
11:52
Like, why do we have a shower? Because if we don't, we're gonna smell, unfortunately, right? So therefore, hopefully, through this session, it's giving you that breakdown and having the clarity as well. You mentioned about your giving back is 5% and saving 20 to 25% is very measurable, right? So if it's $1,000, right, how much of that would be in savings? Yeah, 250, right? 200, 250, and you're tiding $50, right? Doesn't matter if it's an extra zero, so you can achieve that.
12:22
So I think it's having that number. And then we did talk about, you know, what's your financial freedom and a bit about business. What did you take away in that particular area? Finance, freedom and business? Yeah. Yeah, I got to learn about the passive income. Okay, great. Last time you also provided one example of pipelines, maybe, feelings, something like that. There was an example, yeah. Like we need to create as much
12:52
possible like the different pipelines to create a passive income. Sure, okay. So I think the story I want to elaborate a bit more was around like it's a concept I read from Rich Dad Poor Dad by Robert Kiyosaki. Great book which I read when I was like 18, 19, crew member but he talks about having pipes so active income if we were to go to a well is
13:18
consistently walking to that well and then getting that bucket and bringing it back. Now it's great, you can have a bigger bucket, you carry more, right? You can earn more income. But then why do like, then there was two villages, one was going to the well on a consistent basis and then the other one is still have to get water from the well but at the same time build a pipe. A pipe was to connect from the village to the well basically. So a lot of people were laughing and then why are you building this particular pipe? It took them like probably six months to 12 months.
13:48
But look, just wait because yes, we need to build on top of getting that bucket water every time. It's a sacrifice, but one day build that stream, guess what, it's automatically gone and it's the tap that we enjoy on a daily basis. So therefore, it's the same as income. So you wanna have ways that what passive or semi-passive, it means it's not needing you to be there to still earn that particular income.
14:14
Now we won't talk about particular asset classes, but there are assets that you buy that can provide that. So if you're not sure, this is not financial advice, speak to your financial planner, but there are different assets that can provide that consistent income. So it's really from your active income saving a bit, you said 20 to 25%, but that's savings, but there should be a percentage on investing. Do you remember that number, if you were to know? Actually, I...
14:39
I have not segregated my income as an investment currently because I have been studying in Australia, leaving my home country, so I had to look after all my expenses by myself. That's true. So, lately I have not been segregating my income as an investment. Yeah, so this is something that you may need to explore and want to explore out of the
15:05
sounds like 70% is your particular spending that you need to, because you need to survive. But even the suggestion with that 20 to 25%, how much of that, if it's even 5%, right, just put it into investments that you feel comfortable. Because that's no secret to the rich or the poor or anyone that really wants to master the art of money. Because yeah, even from that 25%, you put 10% away and it's an investment that keeps growing or compounding. Now this additional interest...
15:33
right, called compound interest, you didn't have to work for that extra interest, whether it's in the bank or different asset classes. So I'm not sure in terms of your risk appetite what you would like to invest in, but it is important to have some aside because savings will return X amount. And I don't know, some savings that particular, now August 2024, I think what, maybe 5% or something, but you know, if you can find something that's higher for investing, then by all means, you might want to explore that, right?
16:00
Because yeah, it doesn't matter you earn extra zero, if you're doing the same effort, you know exactly where your money is and then builds to this what they call a nest egg or machine that you can invest in more the passive income, right? Because you need capital sometimes. Buying a house needs capital. Buying a share portfolio needs capital, right? Even buying a car, not saying that's an asset, but you still need capital, true? Okay, cool. And then what else? Is there anything else that you would like to share? Yeah.
16:30
After our interview recently done, I have planned for the investment as well. Have you ever heard about SIP? No. Semitic Investment Planning. Oh great. Yeah. So I'm willing to do that. Okay. Where I have to segregate certain amount on a monthly basis for at least for a...
16:57
longer period of time like 10 to 20 or 25 years. Great, okay. It works on the compounding interest. Yeah, interest, yeah. Okay, I guess, yeah. It's kind of investment, but it doesn't give you return like the quickly, but on the long term, yeah. Yeah, so it sounds like it's not distributing the income to you straight away. It's putting it back into the investment and compounding it, right? So that's.
17:24
Actually one of the secrets to be honest if it's either like thing you're learning if money is about compound interest, right? So you don't need to use that money compounds and then it's gonna snowball effect, right? We talked about so I think you've done really well And hopefully in the audience you guys learn something right what we spoken but yeah I feel there's other topics that we're gonna go through. So looking forward in seeing you in Listening to the next episode of our podcast and we'll see you guys then. Okay
17:53
Bye for now. Bye.
