The Money Podcast Expensive Things That Actually Make You Money
Rob shares the things that you buy that actually end up saving or making money in the long run. From hiring private drivers to strategic watch collecting, Rob shares insider knowledge on how spending money wisely can create more wealth. He challenges conventional thinking about luxury purchases, explaining how items like supercars can be smart business tools when structured correctly!
KEY TAKEAWAYS
- How much is your time worth? Hiring a driver can be more cost effective than driving yourself, as it allows for productive work time during travel. For high-earners, the opportunity cost of driving themselves can far exceed the driver's fee!
- Watch collecting, particularly with brands like Rolex and Patek Philippe, can beat inflation as well as open doors to valuable business connections and networking opportunities.
- Luxury cars, when purchased through the right company structure (LLP), can offer significant tax advantages and serve as powerful marketing tools that attract clients and enhance brand value.
- Investing in domestic help (cook, cleaner, housekeeper) can significantly boost productivity with the time saved being redirected to income generating activities.
- High quality, low volume clothing purchases are better investments than frequent cheap purchases, as they last longer and make you look better too.
- When planning inheritance, matching children's earned income and teaching them business principles is more valuable than simply leaving them wealth.
BEST MOMENTS
"It is a far better use of 10 grand to have it in a Rolex than to have it in a savings account. Because in a savings account, that will go down in value every year and be used by the banks and the government at your risk."
"A good hour of work for me is about five grand... and a driver costs me, I don't know, a couple of 300 pounds per hour or per journey sometimes, depends on the car that you get."
"Anyone who buys their kids designer clothes is showing off or showing their own insecurities through their kids. So I think it's an absolute waste of money and it's grotesque."
"I personally believe that the greatest gift you can give your children is education. As opposed to a thousand properties to manage or a billion dollar company."
VALUABLE RESOURCES
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ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
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LinkedIn: https://uk.linkedin.com/in/robmoore1979
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