James Schramko, Founder of SuperFastBusiness and Author of “Work Less Make More”, Talks Financial Success and Wealth Creation

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On this week’s episode, James Schramko, Founder SuperFastBusiness and Author of “Work Less Make More”, takes the time to share his pearls of wisdom on financial success, wealth creation, investing, and so much more.

What I love about this interview is that James unpacks and talks about

  • how his upbringing shaped his view on money;
  • money responsibility;
  • building wealth in a post-COVID world; and
  • his beliefs on assets outside of business.

Show Notes:

00:00:00 – Intro

00:01:41 – James’ Background

00:04:12 – Views on Money Later in Life

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Q: I’d love it if you could share insight into your background and how money showed up in your household growing up. What did it mean to you, and how did it influence you during your teen years?

  • If I were to summarise it, I’d say we grew up pretty wealthy. I was born in Melbourne, and we lived there until I was about five years old.
  • My dad was a high-ranking manager in a transport company that he was recruited for from Sydney when I was born.
  • We lived in two houses when we were in Victoria – and both in good suburbs. The last place we lived in when we were there was Brighton, which is quite an affluent suburb.
  • When we returned to Sydney, we rented a place in Manly, in a unit near the beach. Then they found a place to live in Balmoral Beach in Mosman – which is the top few wealthiest suburbs of Sydney.
  • We lived two streets back from the beach, and then they found another place just around the hill because my dad was very interested in renovating motor vehicles, so he needed more land.
  • That was pretty much the last residential house in what became the Navy and Army Zone in Middle Head.
  • So, I grew up in a big house in Mosman, went to a private school, and we had a nice car.
  • I didn’t really understand things like mortgages or car finance back then, but just from an outward appearance, I knew my dad had a high paying job, we had good things, and we never went without stuff.
  • When I reflect on how I was brought up, I think my parents did an excellent job giving me a good life. \My mum worked too – initially as a volunteer, and then she got paid to do work for charities like Red Cross and the Smith Family, so she would be doing that when I got home from school.
  • Although they were both working, I definitely had a silver spoon in my mouth at that stage of life – there’s no doubt about it.
  • I thought we were rich. In fact, I really thought I would just get an inheritance – and was probably quite lazy as a result of that.
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