Kham Xaysavanh on Taking Risks and Staying True To Your Inner Core

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I’m very excited to have one of my oldest friends, Kham Xaysavanh on the podcast this week. She was instrumental in inspiring me on my own property investment journey. 
Kham’s had a successful career as a business owner of two prominent businesses and used property investment as a tool to silently build her wealth in the background. 
On this week’s episode, she speaks to us about her journey and shares some of her pearls of wisdom. 
What I love about this interview is Kham’s :

  • story behind her property investment journey and how she started from nothing; 
  • her philosophy of not letting money define you;
  • how you should always celebrate all your losses; and 
  • how you should always be true to your inner core. 

Show Notes:

00:00:00 – Intro

00:02:01 – What money meant growing up with a migrant family

00:06:40 – Overcoming bad money habits

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Q: What did money mean to you growing up?

  • We arrived in Canberra in June of 1980 as refugees with literally no money and no possessions. 
  • We always had to struggle financially to make ends meet because my dad couldn’t continue his line of work as a nurse, and my mum went back to study. 
  • Unfortunately, my parents got divorced, leaving my mum as a single mother with four young children.
  • So, I learnt very quickly, at the age of 14, that I had to go and work. 
  • Hard work was the underpinning reason as to where I am today. And it’s always stayed with me purely for that reason. 
  • The other thing that has also always stuck with me is integrity and staying true to who you are. 
  • So, to cut a long story short, we grew up with no money, but I refused to have that life for my children. 
  • As a female in IT, it’s been quite challenging to live up to that mark. I always had to be right at the forefront of being smarter than everyone else, and I had to work harder than everyone else.
  • And that does not impede by any means – I always saw that as an opportunity to use it to strive and prove people wrong. 
  • I ventured into going to university – being the eldest of five; I had to lead by example. 
  • But I’ve always lived with the mindset of not doing things by 100% but rather by 500%. So instead of getting one degree, I needed to get two degrees. And instead of just getting an honours degree and achieving that, I had to get first-class honours. 
  • It doesn’t mean I’m an intellect or an academic; I just worked incredibly hard to get to that level. 
  • I then went straight into the workforce and purchased my first house when I was 21. 
  • Back in those days, I was told that I couldn’t buy a house, but because I’ve always had that mentality that there’s nothing I can’t achieve if I put my mind to it; I took the risk, worked hard and made sacrifices to get ahead.
  • So with that in mind, I continued to purchase and invest in property whilst simply living within my means.
  • So, money to me means living within the means, taking risks where nobody else would, and being able to back yourself to say “if I fall, that’s fine I’ll get back up.”
  • It’s perseverance and persistence. 
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