Summary
Chris is an engineer living in Sydney, Australia, with a net worth of $2.5 million. He has built his wealth through a combination of real estate investments, retirement accounts, cash savings, ETFs, and other investments. Chris started investing in real estate in 2017 and has acquired five properties since then. He also emphasizes the importance of investing in superannuation, a tax-advantaged retirement account in Australia. Chris plans to continue investing in ETFs and other options to diversify his portfolio and achieve his goal of a $5 million net worth and $100,000 in passive income in the next 7 to 10 years. He believes in the power of hard work, skill, and a positive mindset to create wealth.
Takeaways
*Investing in real estate can be a lucrative way to build wealth *Superannuation is a tax-advantaged retirement account in Australia *Regular saving and investing are key habits for financial success *A positive mindset and hard work are essential for achieving financial goals *Diversification is important for managing risk in investments *Tracking net worth and expenses can help in financial planning *Travel and creating memories are worth the investment *Believe in yourself and your ability to achieve your goals
Sound Bites
"A part of all I earn is mine to keep." "I developed my formula which was, I named it as SETFIP, SETFIP. S stands for the superannuation, then it's ETF and IP is the investment property." "A part of all your time is yours to keep."
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