Greg Bond and his son Nick, both of ‘The Property Management Guys’ talk about the lies of financial success – and how Nick beat the system straight out of college.
Why Keep This A Secret?
Greg started the conversation by confronting the lack of financial education in the current school system.
“They don’t teach that in schools at all. Is that because they don’t want to create independent people? They [just] want a workforce that’s gonna go to work every day and do their job.”
He called it “disheartening” that basic financial literacy isn’t taught in schools or deliberately made available to the public.
The truth is: big corporations that need lots of people to do little jobs don’t want their employees to find success on their own.
Pulling Back The Curtain
Nick recounted how he recently had to help his sister-in-law review her employer’s options for retirement plans.
“It was like 10 different options… and it’s even harder to find what’s in them. Then you find out they’re just invested in other funds!”
Corporate-planned retirement accounts are standardized, and greatly limit an individual’s potential wealth for retirement.
Nick’s father, Greg, chimed in: “Every fund is taking a little cut, right? And then you’re paying that fund, whether you make money or not.”
But what if there was a way to direct your own investments and maximize your retirement funds – without being a corporate stooge?
Off The Beaten Path
Greg was all too excited to share how proud he is of his son: “That’s how I was so proud of him. When he came out of school, he said, ‘I’m not going to interview for a job.’”
With a touch of humor, Greg added, “My wife was freaking out…And I was going, ‘Yes! He gets it!’
He went on to explain how, fresh out of college, Nick built his own business, started his own investments, and comfortably moved out on his own, “and it’s just continued through. The freedom that that gives – it’s amazing.”
Nick elaborated and shared the math of his first investment: a small chunk of land for only around $1,800. His golf friends thought he was crazy… until he turned around and sold it only a month later for about $6,000.
Set Yourself Up For Success With NuView!
Nick concluded his story by sharing an incredible truth, saying it was “really awesome. I just made like four grand in like one month… [only] four hours of work.”
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“They don’t teach that in schools at all. You wonder, is that because they don’t want to create independent people?
They want a workforce that’s gonna go to work every day and do their job. And is that what really is going on? Or are they just ignorant?
Because you look between a 401k and an IRA, why can you leverage in a 401k with no consequence, but in an IRA, you can’t?
You really wonder how that all came about. And some of these obscure rules that you go, ‘ Why didn’t I know about that before? Why isn’t that just like common knowledge all over the place?
And it’s really disheartening that a lot of these things aren’t out to the general public.”
“I just helped my sister-in-law go through her 401k options with her company plan. And it was like, 10 different options, the horizon fund for 2050.
And it’s harder to even find what’s in them and you have to click about four different PDFs and then you find they’re just invested in other funds. ‘How do I find out what’s in that?’
If they just did self-directed at the corporate level, that would help a lot of people.”
“But every fund is taking a little cut, right? And then you’re paying that fund, whether you make money or not.
That’s how I was so proud of him. (gestures to son) When he came out of school, he said, ‘I’m not going to interview for a job.’
And my wife was freaking. She didn’t like that at all. And I was going, ‘Yes! He gets it! He gets it!’
So he started his own business. Lived with us for six months till he got his business up and going then bought his own place and it’s just continued through.
The freedom that that gives, it’s amazing.”
“I mean, my first one was just buying in selling land and so I bought a little piece of land for – I think it was like 1800 bucks – off of an auction website that he showed me.
And so I went on and bought a piece and I told some of my friends while we were golfing one day. They’re like, ‘Are you crazy? You bought land inside a retirement account?’
They didn’t know it either, but they’re saying I’m crazy. And then I go around and – I can’t remember how long it was – but I reach out to the neighbors of the land and sell it for like $6,000.
I was like, man, this is really awesome. I just made like four grand in like one month and like an actual like four hours of work. And I was like, that’s more than I made my summer internship last year of 5,000 bucks the whole time.”