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Millionaires Unveiled

162: Net Worth of 10M - Music Teacher Who Quit After Passive Income was 100K

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8872 Ratings

🗓️ 30 November 2020

⏱️ 43 minutes

🧾️ Download transcript

Summary

Lloyd Edge is a music teacher turned real estate investor. He has a current net worth of over 10MM USD. He decided to invest in real estate while teaching when he decided that he wouldn't be able to retire with enough money from just teaching alone. He lives in Australia and worked as a teacher for 15 years prior to quitting. Lloyd became a millionaire at the age of 38 and currently makes over 250K in annual passive income.

Email us at - [email protected]

Website - www.millionairesunveiled.com

Twitter - @Mill_Unveiled

Transcript

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0:00.0

But I have never been scared of debt because when you use debt in a good way I think that's you know

0:06.2

There's good debt and there's bad debt and I will say that bad debt are on items that depreciate those that go down in value so you know if you take out a car loan for example that's bad debt because

0:16.4

the car loan goes down the car goes down in value that's not so good taking it alone out in the car

0:21.7

so these days when I buy a car, I pay cash for the car, for example.

0:24.7

When you're buying property and you're taking a loan out of it, the property is actually going to appreciate in value.

0:30.3

You're listening to the Millionaires Unvealed Podcast, where you'll hear the stories and interviews of everyday millionaires.

0:39.0

We'll unveil their decisions, their strategies, and their current portfolio at least. their Welcome back to another episode of the Millionaires and Villed Podcast. This is episode number 162. Clark, how's it going? How was your Thanksgiving?

0:57.8

Good, what about you? Everything good? Yeah, it's pretty good. Do you enjoy some turkey?

1:02.0

Yeah, I was just, we were just talking before we came across this article on Kipling, I think

1:06.6

Kiplinger this is, it says good news, Thanksgiving dinner is the cheapest it was in

1:10.6

10 years. So Thanksgiving a few days ago here but pretty interesting it says the average

1:15.6

Thanksgiving price and this runs I would think a little low it sounds but it says about

1:19.5

$47 for 10 people which includes a couple pies turkeys rolls vegetables anyway

1:26.0

scrolling down here it just says turkeys are available for a dollar 21 a

1:29.7

pound 7% down 7% down from last year whipped cream potatoes or 31 and 34 cents cheaper

1:36.1

so cheaper Thanksgiving huh maybe we should do it more often yeah that's kind of

1:40.0

interesting I guess with the way the year has been I guess that's one little bright side that you know with as much

1:45.6

Economic uncertainty and all sorts of things going on in the world a little bright side we had a little bit cheaper

1:51.0

Thanksgiving and a lot of people probably didn't travel like they were planning to and whatnot but you know at least

1:56.8

they got a break on the turkey this year. Definitely can feel that but I

2:00.2

always get briskly. That's part of my Thanksgiving here in Texas.

2:03.2

You doing Turkey at all?

...

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