Episode 33: From Striver to Success: Income Generation Strategies for Wealth Growth

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In our latest episode of the Canadian Wealth Secrets podcast, we delve into the transformative power of an entrepreneurial mindset and its profound impact on building wealth and achieving your investment goals. Join us as we explore the key strategies and insights that can propel you towards financial success and personal fulfillment.

Are you wondering if you have enough money to reach your investment aspirations? Discover practical tips and techniques to assess your financial standing and align it with your investment objectives. Learn how to make informed decisions and take confident steps towards your wealth-building journey.

Earning extra income to invest is a game-changer, and we’ll show you how! Uncover innovative ways to boost your income streams and create opportunities for long-term wealth growth. Whether you’re a seasoned entrepreneur or just getting started, these income-generation strategies will supercharge your financial endeavors.

Resources:

• The Canadian Wealth Secrets Wealth Building Booklist 
• The Real Group Windsor Real Estate Team
• Canadian Wealth Secrets Ontario Mortgages
• Download our Wealth Building Blueprint

Interested in Joint Venture Opportunities?

For those interested in being considered for potential Joint Venture (JV) opportunities, reach out to us here.

Contact Matt if you’re Buying or Selling Real Estate in Windsor or Essex County!

Reach out to Jon if you’re looking for an Ontario Mortgage or an Ontario Mortgage Refinance!

Check out the work Jon and Kyle do assisting mathematics educators and district leaders.

Watch Now!

00:00:00:24 – 00:00:22:03
Jon Orr
And because the machine is working, I’m going to get it again next year and I’m going to get again the year after that. As long as I feed this machine, it’s going to spend me money instead of going like, Oh, I got my vacations, I want to go on, my income is going to cover those. I became obsessed with what asset can I buy or can I invest in so that that asset spits money too, so that I can go on vacation.

00:00:22:05 – 00:00:43:08
Jon Orr
And then I always have that asset. That money didn’t disappear like it would have on my vacation route. It’s there. It’s giving me money to go on vacation, and it will do that every time. So I think that was my journey in a sense of how my mindset got shifted because I had some extra income and it was because I had that entrepreneur mindset or I was obsessed with that idea.

00:00:43:08 – 00:01:03:03
Jon Orr
And I think all of our listeners right now already have that entrepreneurial mindset. They’re already listening to this looking for ways to invest in deeper levels.

00:01:03:05 – 00:01:09:05
Kyle Pearce
Welcome to the Investing Teacher Podcast with Kyle Pearce, Matt Biggley and John Orr.

00:01:09:07 – 00:01:18:07
Jon Orr
Get ready to be Todd as we share our successes and failures encountered during our real life lessons. Learning how to build generational wealth from the ground up.

00:01:18:09 – 00:01:23:11
Matt Biggley
Welcome Investor Students to another episode of the Investing Teacher Podcast.

00:01:23:13 – 00:01:41:19
Jon Orr
Welcome, folks. Welcome. We are back. Obviously, you’re listening to us. We’re back with another episode. And in this episode we’re going to talk about a bunch of ideas that all revolve around you, figuring out how much is enough to put away for your investment. We’re going to think about your mindset around that. We’re gonna think about your budget.

00:01:41:19 – 00:01:59:07
Jon Orr
We’re going to think about what jobs could be available to you to make extra money so that you can achieve financial independence earlier than you thought earlier, than what your retirement date is set for you. We’re talking all things investment and achieving that financial goal.

00:01:59:13 – 00:02:31:24
Kyle Pearce
Yeah, I think why this is so relevant, especially for the three of us, is the three of us both began in very similar places, right? Teaching in the classroom, going into some different roles and coaching and consulting. Matt was going down the path of administration before he sort of pump the brakes on that idea. And all along that journey we were doing some different things to try to find a way to we’ll call it, bump into additional funds to get us going on.

00:02:31:24 – 00:02:58:07
Kyle Pearce
We’ll call it a side investment journey, because the reality was in Ontario here, as teachers, we are investing because we have that pension plan, right? That pension plan, it’s a strong pension and it is essentially doing it. You could do it with your eyes closed. Money is coming off of your pay and of course, you’re getting the benefit of match sort of situation going on and a defined benefit pension at the end.

00:02:58:07 – 00:03:23:04
Kyle Pearce
So for a lot of people, they’re like, I am investing, I’m teaching, I’m going, and then I can spend the rest of my money on my lifestyle or whatever it might be. But for us, we were thinking we wanted to start building some wealth. I don’t know, maybe it was control. We wanted more control over the future finances that we would have and maybe in our minds thinking, Hey, here’s your defined pension plan.

00:03:23:04 – 00:03:54:22
Kyle Pearce
What if it’s not enough? Maybe a little bit of fear. We know that I’m the guy. I want to be secure financially. I have no idea. But all three of us have throughout the years been doing some other things. We’re going to call them side hustles in order to generate more funds, but not to necessarily improve our lifestyle now, but rather to create or find funds that we could then leverage and put into investments of some type.

00:03:54:24 – 00:04:16:24
Kyle Pearce
Matt When you’re thinking about this and thinking about your journey, what did that look like and sound like? And I guess my question to you is what was your reason for thinking that maybe you wanted something? I don’t want to say more sounds like greedy, but different than, say, just the set and forget Golden handcuffs pension plan that we are so accustomed to in education.

00:04:17:01 – 00:04:58:05
Matt Biggley
Yeah, I think we can all agree that teachers are well compensated. They work hard and there’s some terrific financial benefits to being a teacher. The pension among them. And you could really have a solid standard of living as a teacher, but has, I dare say, at the risk of coming off as being out of touch, I think there’s some limitations on what one can achieve or realize with these golden handcuffs type jobs, be it a police officer, a teacher, nurse, and on and on, and so I think it really comes down to to realizing that with a side hustle, with something extra, you can generate investing returns that can certainly change the wealth trajectory of

00:04:58:05 – 00:05:23:19
Matt Biggley
your family, but also generationally that of your kids as well. And we constantly get inquiries from teachers looking for ideas on how to generate more money. And within teaching, dare I say, we’re a little bit limited in our mindsets about what we consider to be those kinds of activities. Among my motivations for becoming an administrator and I stopped one course short, hit the emergency brake and have now exited teaching altogether.

00:05:24:00 – 00:05:47:23
Matt Biggley
It was what are the only ways within education you could actually make more money Now? I started that path because I loved teaching and naturally thought that being promoted and getting more responsibility was what I wanted. But there was also a financial incentive as well. Some teachers teach summer school or AQ courses. I’ve personally never done either because for me the ultimate luxury in life is time.

00:05:48:00 – 00:06:12:09
Matt Biggley
And I didn’t quit teaching after I started a side hustle, which became a full fledged entrepreneurial career because I didn’t like teaching, it was because the only thing I couldn’t control was my time. And by being an entrepreneur, I was able to both vastly exceed my teaching income and also control my time. Those two things put together to me were an unbeatable combination.

00:06:12:09 – 00:06:29:16
Matt Biggley
And so having spent all that time as a teacher working on other side hustles, trying to think of things as an educator I could do that were in a conflict of interest. It was pretty tough. It was pretty tough to come up with anything that didn’t include giving up your summer to teach summer school or teaching an AQ course.

00:06:29:18 – 00:06:49:10
Matt Biggley
At one point I was looking at teaching overseas because they pay really well in places like Saudi Arabia. Go over there and be a teacher or getting a promotion. I actually think this is probably a product of our education system that we’ve been a little bit brainwashed. That university was the only correct pathway and we regurgitate that to our students now.

00:06:49:12 – 00:07:19:15
Matt Biggley
And we never really learned about being entrepreneurs either as high school students or as university students, despite even in high school, we offer a course called entrepreneurship. It’s a pretty thin take on what actually entrepreneurship is all about. So I think my mind has been blown by entrepreneurship and it’s exciting because the two of you have started down these paths in a new way than some of your previous entrepreneurial activities, which are also going to be exciting and fun to dissect here too.

00:07:19:17 – 00:07:46:21
Jon Orr
For sure, For sure. And I think when we are in the teaching rules or in our full time roles with thinking about how do I get involved in investing and how do I have enough money for going down that route, you guys said that you are doing it with your pension, you are doing it otherwise. I think we talked about this in our first few episodes and thinking about like that wealth building blueprint and how do you create this gap of money that can help you get there?

00:07:46:21 – 00:08:07:01
Jon Orr
Because I think if we want to retire early, we want to build this wealth machine one way to do that is to set aside money from your budget and redesign your budget. We talked about your pay yourself first so that you are meeting the goals that you want. We talked to also about personal beliefs. What does your lifestyle look like?

00:08:07:03 – 00:08:39:06
Jon Orr
How are you kind of setting aside and planning financially for the lifestyle you want? If I want to go on to vacations a year, I setting aside the right amount of money from my personal budget to account for that and if I’m thinking about retiring early or becoming financially free early to get that time, like Matt is talking about like that, freeing up my time, my backwards mapping that do I have enough currently to say, achieve all of these things that I want my lifestyle to look like?

00:08:39:06 – 00:09:03:24
Jon Orr
And if not, then I need to figure out how to redesign that budget to fit it. So might mean restructuring, but it also might mean what you’re saying, what you’ve done, what all of us have done is realized that our income from our teaching job wasn’t enough to kind of create the lifestyle that I think all three of us wanted and realized that we needed to kind of go down another pathway to bring in more income.

00:09:03:24 – 00:09:23:22
Jon Orr
I don’t think it for me started with I think maybe what I heard Kyle say, that he were always thinking that way for me. I wasn’t thinking that way. I don’t think I thought about creating more money for myself. But until I started building a business with you who was like, Hey, all of a sudden I think I was just excited about building businesses.

00:09:23:22 – 00:09:53:04
Jon Orr
And I’ve come to realize that that’s where my passion lies, is that I love the operation and building something from nothing. And that part was really exciting for me and that all of a sudden, through our math consulting and our math professional development resources make math moments, have allowed us to have extra income. And then with that extra income started making me think about how do I best utilize this extra income, cut away, invest it now that I have it.

00:09:53:06 – 00:10:11:24
Jon Orr
Because I think I also became obsessed with this compounding interest machine, Right? How do I take this money? Put it into this thing over here? This machine and that machine is always going to generate me some money, and then I can spend that money. And because the machine is working, I’m going to get it again next year. And I’m going to get again the year after that.

00:10:11:24 – 00:10:28:09
Jon Orr
As long as I feed this machine, it’s going to spend me money instead of going like, Oh, I got my vacations, I want to go on, my income is going to cover those. I became obsessed with, what asset can I buy or can I invest in so that that asset spits money just so that I can go on vacation.

00:10:28:11 – 00:10:49:15
Jon Orr
And then I always have that asset, that money didn’t disappear like it would have on my vacation. No, it’s there. It’s giving me money to go on vacation, and it will do that every time. So I think that was my journey in a sense of how my mindset got shifted because I had some extra income and it was because I had that entrepreneurial mindset or I was obsessed with that idea.

00:10:49:15 – 00:10:56:24
Jon Orr
And I think all of our listeners right now already have that entrepreneurial mindset. They’re already listening to this looking for ways to invest in deeper.

00:10:56:24 – 00:11:18:00
Kyle Pearce
Levels, right? I would argue, like John, I think I didn’t recognize this, but now that you say it, it’s so obvious you were of the type, you were of the mindset where your teacher’s salary was enough to sustain your lifestyle or your family’s lifestyle. So you were, we’ll call it living large in your own world, in your own mind, your own perception was you had a great life.

00:11:18:00 – 00:11:43:18
Kyle Pearce
You had a lot of great things going for you and you had the pension that’s all taken care of. And ultimately, at the end of the day, when you started building and doing something you enjoyed and maybe I maybe rubbed off on you a little bit in terms of what you might want to do with that income, The reality was you didn’t really have the motivation of money to start some of the side hustles you’re doing, which I think is a learning lesson for some of the people listening.

00:11:43:20 – 00:12:02:23
Kyle Pearce
You really have to decide who you are. I’m going to guess that the people who are listening were probably more like me, maybe more like Matt, where you were like, I want more income for a reason. Whereas John, I think you started doing something and found a passion and that passion grew and you’re benefiting from it. Your wealth is going to benefit from it.

00:12:03:00 – 00:12:30:11
Kyle Pearce
For me, I think I came at it from a security, a fear standpoint. I had this thought in my mind that I was like, Well, if I’m earning this much now and then I retire and everyone knows defined benefit pension plan, you’re not going to get the same amount. You’re going to get this much. And I think right from day one, I was like, okay, it’s great to have that much, but I’m used to living on this much, which is more, I know if you have kids, they’re going to move on and you’ll have maybe less financial responsibilities.

00:12:30:11 – 00:12:48:09
Kyle Pearce
But what if you don’t? Or what if you do have more financial responsibility? So for me, I was like, how do I make it? And I think in my mind was like, if I could retire but still have the same salary I have when I’m working, that would make me feel more secure. And I think that’s where I came at it from.

00:12:48:09 – 00:13:06:12
Kyle Pearce
So I tried the tutoring, I tried the night school, I tried those things. Those things were hard, though, because they took again, it was like I was just working overtime. It was like I was doing the same thing I was doing during the day. Now it was in the evenings or now was in the summer time and the money actually wasn’t all that great.

00:13:06:12 – 00:13:28:04
Kyle Pearce
You didn’t notice it, right? And that sort of got me down the whole entrepreneurial path where I started thinking, What else could I do? And that’s when I got my mortgage license. Way back when. That was right before we were having kids. Did that for a number of years. At the time, I didn’t really understand marketing or online businesses and that was very limiting with my day schedule.

00:13:28:04 – 00:13:44:15
Kyle Pearce
Matt You talked about time not having control of your time makes it really hard to do certain activities, right? If I’m working all day and I want to be a mortgage agent, that’s going to be hard. Or if you want to be a realtor and you ran into that issue as well, Matt, when you started doing real estate.

00:13:44:17 – 00:14:07:09
Kyle Pearce
But ultimately we were trying to find ways to bump into this extra money. And I think my big key takeaway is for those who are listening, where are you spending your money now and is it enough if you did nothing else to sustain your lifestyle? And then what else could I do? So that that what else? That I can do it.

00:14:07:09 – 00:14:37:21
Kyle Pearce
And there’s enough passion there that I’m willing to do that extra in order to generate that personal beliefs of yours. 1015, 20 years down the road. And I think for me, that would be the big key piece is really deciding why am I generating this extra income and am I just spending it on something now because I have extra funds or am I doing something more intentional with those funds so that I can keep more control of my time or get my time back sooner?

00:14:37:22 – 00:15:00:12
Kyle Pearce
Right. Because it doesn’t mean you have to quit your job as a nurse or a doctor or whatever you’re doing. It just means that as soon as I can be financially set or secure, that I can then control all of my time, which may mean continuing to work a little longer because you like it or it might mean taking some time off and going to Dubai but not having to teach while you do it.

00:15:00:14 – 00:15:28:18
Kyle Pearce
So, Matt, where’s your head? You hear John story. You hear my story. What got you actually motivated to want? You said there’s something really interesting that hit me where you were like, The only way that you can earn a greater income was to start climbing that ladder into administration or other duties in education. What was your driving factor, or do you even understand what that driving factor or force was in order to generate more income?

00:15:28:20 – 00:15:49:17
Matt Biggley
I think for a lot of our listeners, we’re strivers. When I became a teacher, I wanted to be the best teacher. I wanted to become a department head right away, an instructional coach. We are strivers, we are pushers, and I love a lot of the stuff. We listen to books and podcasts talk about this convergence between entrepreneurship and being the best version of yourself.

00:15:49:17 – 00:16:14:16
Matt Biggley
And so I’ve always been someone intensely interested in self-improvement and that path that converges really wonderfully with this entrepreneurial pathway of also trying to find ways to be able to generate more wealth. And not only you guys talk about frugality a lot, I think my own take is a little bit more so on improving your quality of life now as well as into the future.

00:16:14:16 – 00:16:34:12
Matt Biggley
So I think when I started in real estate, it had just been a goal. We had bought and sold a lot of homes together. My wife, who’s also a teacher, and we had realized definitely some nice financial benefits from that, but also some really big challenges as well that we look on now as fond memories, but at the time were intense, intense stress.

00:16:34:14 – 00:16:51:19
Matt Biggley
And so I started to get my real estate license as a side thing. We were investing in real estate, Kyle, you and I, and I thought it would help us. I hadn’t had a lot of great experiences with realtors and to be honest with you, one of my driving forces to become a teacher is because I didn’t always have great experiences with teachers, and I just felt like I had something to offer.

00:16:51:21 – 00:17:11:04
Matt Biggley
And so I think it was the same really landscape in real estate. I hadn’t met a lot of really great realtors, and I think I felt like I wasn’t God’s answer to real estate, but I think I felt like I had something to contribute or that I could do this just as I think a lot of the people listening are well built to be entrepreneurs, to have thriving side hustles.

00:17:11:10 – 00:17:34:11
Matt Biggley
So I got it really as a side hustle. It was just going to be something I did on top of teaching, just like we were already doing a real estate investing on top of teaching. I never intended to quit and quit teaching. And what happened was it just blew up. Those teacher skills that we have as being great learners is having awesome follow through as being really great communicators, as being incredibly well organized.

00:17:34:15 – 00:17:54:20
Matt Biggley
All of those teacher skills, they really crossed over into real estate in a great way. What it had to really work on has been my mindset because in teaching you just come from it. Again, I don’t want to misspeak, but we come from a really fixed mindset. We’re used to being in an environment where it’s very hierarchical. We’re told exactly what to do.

00:17:54:20 – 00:18:15:04
Matt Biggley
The ministry dictates the school board, who then dictate to the principals, who then run their schools. Oftentimes it’s little fiefdoms. There’s a lot of politicking within that school environment as well. And so I think that we end up having pretty limited mindsets, whereas we think that microcosm of the school is how do we see this without maybe offending?

00:18:15:04 – 00:18:36:06
Matt Biggley
But I think we almost don’t realize that there’s a big world out there outside of the school that is the real world with which we’re so often talking about to our students, and yet we’re not really part of the real world anymore because we’ve had this unionized job, this pension job that we’re not exposed to what’s really going on in the real world, despite ourselves liking to be authorities on those.

00:18:36:06 – 00:19:00:12
Matt Biggley
So going off in a little bit of a tangent here, but I think for our listeners, you have the skills to have a thriving side hustle. My side has so translated into success in real estate to the point where this now has become a mission or a calling or John, you talked about it being a passion. And so I think it’s okay for sort of mid-career to take that fork in the road.

00:19:00:12 – 00:19:18:21
Matt Biggley
And for me, that was a decision that became one that my real estate coach says to me, financially, Matt is becoming a full time realtor going to be a challenge financially for said not at all. In fact, going back to school would have cost me several hundreds of thousands of dollars a year in potential income. So she said, okay, financially you’re going to be set.

00:19:18:21 – 00:19:39:14
Matt Biggley
Now, being a full time entrepreneur, you’re business owner as a realtor, as a mortgage broker, as an insurance broker. You are an entrepreneur, your business owner. And then she said, How does school make you feel? And I said, Well, a lot of the times you made to feel kind of crappy, whether it’s the school board or your principal or your colleagues or the students and parents to me were really the challenge.

00:19:39:20 – 00:20:01:14
Matt Biggley
I think the overall impact of all that environment there was, sometimes it can really make you feel that great. Being an entrepreneur, you definitely go through a lot of challenges. But as Alex Mosey says, we talk about all the time. He says it’s the best kind of feedback loop because everything bad that happens is really a reflection of something you could have done, should have done, might have done differently and so you learn from that constantly.

00:20:01:19 – 00:20:18:10
Matt Biggley
And so it feeds that self-improvement all of the time. And that was really an itch I was trying to scratch. And so I think that that has been truly rewarding. I’ve seen now that I’ve had total freedom of time, which is actually translated into working more hours per day, more hours per week than I would have ever as a teacher.

00:20:18:12 – 00:20:41:24
Matt Biggley
But a real satisfaction that everything I’m doing, I have no excuses. I have no one to blame when something doesn’t go well. And the cool part about that is it’s translated into success beyond anything I would have ever imagined or believed. Total time, freedom, and a real satisfaction that I loved teaching. But the satisfaction of being a successful entrepreneur, it is irreplaceable.

00:20:41:24 – 00:20:53:22
Matt Biggley
It is truly irreplaceable because you are self made, You are totally built and totally self-made. And that’s a level of satisfaction that I could never achieve in anything else.

00:20:53:24 – 00:21:13:14
Jon Orr
You’re absolutely right. I love it. And that’s the feeling I get as an entrepreneur as well. And I think all of our listeners, like you said, Matt, are strivers. They are at heart. They have the entrepreneurial mindset already. It’s now just putting into action and getting out of your own head that you have these limiting beliefs that you can’t do it.

00:21:13:14 – 00:21:32:10
Jon Orr
But we’re three people that have done it more than once in different industries. I had to get out of my head as a teacher. I was wrapped or I’m still wrapped in the identity as a teacher. This is part of who I am. I am a teacher at heart, I think always will be. But I couldn’t get out of the idea that there is no other job.

00:21:32:15 – 00:21:52:15
Jon Orr
If you have a teaching degree and you were a teacher, what else could you do with that degree? What else could you do with that education? You just don’t think that you could do anything else if you wanted to leave teaching because that’s your reality. For some teachers who right now are like, I wish I could add to my income because I know that wealthy people add their income and the middle class just replace their income.

00:21:52:15 – 00:22:29:04
Jon Orr
But how do I add to my income? I’m a teacher. You have to get out of that mindset because there are other opportunities to add to that income in those side hustles. And I think having get into real estate with U2 has led me to get more boots on the ground and thinking about where we’re talking about investing in real estate and also buying properties, helping other people buy properties with our JV opportunities and what better way to help people maximize the equity that they will have in their home to build their own financial freedom and their own wealth was to get involved with becoming a mortgage broker.

00:22:29:04 – 00:22:48:14
Jon Orr
And that’s exactly what I did. I went through the course to become a mortgage broker, are now qualified licensed mortgage broker who is now going to be working with people on building their own assets and using the equity in their asset to grow their wealth. And it’s not something that I knew in advance. I didn’t know that you could.

00:22:48:15 – 00:23:09:16
Jon Orr
We talked about this in our origin stories way back at the beginning of this podcast. That is, I didn’t know that you could use the equity in your home to buy other assets or utilize in different ways to build your wealth. I want to help people with that idea in using that idea to help build their wealth. And what better way than working with people to make that happen with the homes that they purchase?

00:23:09:16 – 00:23:23:19
Jon Orr
So that’s another opportunity for people to build their wealth on the side. Also, becoming a mortgage broker is a real opportunity for people to add to their incomes. Now it is a full time job to do it, but you have to be ready. And I think it is that mindset that our audience has.

00:23:23:21 – 00:23:42:06
Kyle Pearce
Yeah, I think the part that I’m really liking too. And Matt, you had said this is this idea for you. It’s like you’ve entered a different chapter of your life to do something that you had no idea, not that you didn’t have an idea, you were capable of it. You just thought there was a constraint on life, right?

00:23:42:06 – 00:24:00:17
Kyle Pearce
You had entered into the teaching profession, John. You had entered into the teaching profession. And for many people, unless they quit, for we’ll call it negative reasons, right? They couldn’t do it. The stress was too much. They really disliked the position with you guys, with myself, it’s like we loved the job. So it was like we could keep going.

00:24:00:17 – 00:24:23:11
Kyle Pearce
And most people do, especially those who really enjoy it. You just keep going. But you saw the opportunity to do something different. And the part that I’m recognizing about myself is that I know that I would be just as happy to continue teaching my wife’s full time teacher and she’s enjoying it. She has no plans to become an entrepreneur like we’re kind of experimenting in doing over here.

00:24:23:13 – 00:24:50:10
Kyle Pearce
But ultimately it’s like I’m so interest started to see and experience life in a different way, right? And we’re already doing that. John and I are doing that. Matt, You’ve been doing it now for a couple of years where it’s like, Wow, I had this 17 year routine of exactly how every single year would go the day after Labor Day looked and sounded the exact same way for me for 17 years.

00:24:50:10 – 00:25:10:19
Kyle Pearce
And I knew exactly where I would be, at least within one of 71 buildings in my district. That’s where I would be. John was at the same school. Matt you’re at the same school. And now I’m so blown away by this idea that it’s like we have one life to live. And you get to decide what that story looks and sounds like.

00:25:10:19 – 00:25:33:22
Kyle Pearce
And for some people listening again, don’t go. Just quit your job because we’re experimenting in this land. But I look at and I go, Wow, I’m learning so much about myself and I’m learning that this idea. John You’re talking about building businesses. Matt You’re talking about being able to provide a service to the world that you feel was lacking for you, right, in teaching and in real estate.

00:25:33:24 – 00:26:20:16
Kyle Pearce
For me, it’s this idea that I’m like, Holy smokes, I’ve been so passionate about finance for so long, investing finance me, I’m writing my provincial license for insurance agents, and I am just so excited at this opportunity to do something I’m so passionate about. When I’ve had so many phone calls with friends, family and strangers from Canadian Wealth Secrets who have come to me and said, I don’t understand how whole life works or this infinite banking idea, or how can you build a wealth plan so that I don’t have to pay taxes or my heirs don’t have to pay taxes once I pass for people to be asking me that because their agents are unable to

00:26:20:16 – 00:26:53:17
Kyle Pearce
provide that for them. Now, there are some that are very knowledgeable out there, very knowledgeable, but I would say there are few and I would say even locally here in Windsor, Essex, I don’t know of any. If you’re listening and you are that person, reach out. I’d love to meet you for a coffee, but I’m like, Wow, I can go out and I can provide this learning opportunity which will not only help people with learning, but potentially change their financial future for their life, but also the life of their next generation.

00:26:53:19 – 00:27:31:23
Kyle Pearce
To me, that is something I’m so excited to do because like you had said there, Matt, I will know and I will get to experience the start to finish portion of that experience. Whereas like in education, you actually don’t get that. That’s the sad reality you get students for this semester, you get to try your best for them to learn something, but it’s like to be able to actually help someone craft that plan and set them on that journey and be following up with them and ensuring that their friends and family are also taking care of and that they’re welcomed into this super safe and predictable way of building their wealth for them in their

00:27:31:23 – 00:27:49:01
Kyle Pearce
family. To me, I’m super excited about it because I’m like, Wow, this is something I do on my spare time and now I’m going to actually do this as a part of my career, part of my regular income. That to me is just mind blowing and super exciting.

00:27:49:03 – 00:28:10:07
Matt Biggley
It’s so exciting and it’s amazing that John is now just officially launched is mortgage business and really looking forward to collaborating on that. And Kyle, you’re coming up on getting your official license for insurance and sharing this journey with you guys has been a lot of fun and I think we said it before. If you’re someone who wants one of my questions I asked myself is I had 13 years to retire.

00:28:10:07 – 00:28:27:09
Matt Biggley
I said, I basically know, as you just said, Kyle, what every single day of those next 13 years could look like. And if you’re someone who wants predictability, Gary Vee talks about this all the time. If you want to be in the golf league. The Wednesday night softball league, and that’s what makes you happy, go for it. This isn’t about judging anyone.

00:28:27:09 – 00:28:47:19
Matt Biggley
So if you want that predictability, if you want that level of safety, if your risk tolerance is low, that’s okay. That’s okay. There’s lots of people that are in that boat, and I applaud you for that. I think our listeners are those strivers. John, you talked about loving, building something. I think our listeners are builders. There are people who are looking for more out of life.

00:28:48:00 – 00:29:09:07
Matt Biggley
It really shouldn’t sound cheesy, but it’s legitimately if we have one life to live here. When you talk to older people and there’s some great books out there on the regrets of the dying, it’s like you look back and I want to say I think we can all safely say that we are taking the bull by the horns, that we’re trying to live life to its fullest.

00:29:09:09 – 00:29:36:23
Matt Biggley
And I would like to be able to say at the end of my days that I chose the adventurous route and that I chose the road, The path less traveled And being an entrepreneur is that I will always be grateful for those safe years as a teacher that made me that fulfilled me. But I think it’s okay for all of us to say the three of us, and certainly our listeners there can be more out there and we’re all on a path to discover that and to achieve that.

00:29:37:03 – 00:29:56:05
Matt Biggley
And as we say in the intro to our show, their successes and then there’s failures as well. And I think we have endured both of those things, all three of us. And we will continue to as we move this forward. But it’s created a lot of excitement in our life and I’m just really grateful for this pathway with the two of you guys that we get to do it together.

00:29:56:07 – 00:29:58:17
Matt Biggley
And through this podcast, we get to share it with others a.

00:29:58:21 – 00:30:20:17
Jon Orr
Great way, I think. And Matt, in thinking about reflection and reflection that our listeners having right now in, they are the strivers, they are the builders. And how close are you into starting the building or the striving for what you’re looking for? Or maybe you’re already in it, you’ve already taken the step and you’re on your journey as well.

00:30:20:19 – 00:30:40:03
Jon Orr
Everyone has to kind of do that. Self-reflection. That’s self assessment right now of where you are. And I think you have that entrepreneurial mindset. It’s have you taken the step? And if you haven’t, why not? So let’s get moving and let’s get going, because I think that’s the way that you’re going to build the wealth and the freedom that you’re really after, just like we have.

00:30:40:05 – 00:31:14:20
Kyle Pearce
Awesome, awesome. I know that we spoke through our own personal experiences, our own contacts, but ultimately, I think the big message I hope you’re getting is that you need to find a way if yours is seeking what we’re seeking, which is something maybe beyond, say, the defined pension plan, or maybe it’s the undefined pension plan where it’s a match plan at your company or wherever you’re working, if you’re seeking something beyond that, when it comes to the wealth building journey, you have to have a plan, you have to take action and you’re going to have to find funds somewhere.

00:31:14:22 – 00:31:36:13
Kyle Pearce
So you’ve got a couple options. One of them in our blueprint was you cut back on your expenses, you live more frugally, right? And for some people that’s fine, because the payoff for them, it’s worth it for other people. Actually, I really enjoy my lifestyle and I enjoy spending the paycheck that comes in each and every week, month, whatever it is.

00:31:36:14 – 00:31:54:12
Kyle Pearce
That’s awesome too. But then now the question is, how are you going to earn that little bit of extra that’s going to allow you to get to the investing, right? You need to find that capital somewhere and it’s up to you how you do it. But ultimately, at the end of the day, it all comes back to your plan.

00:31:54:12 – 00:32:29:00
Kyle Pearce
What is that plan? And if you’re just spending your paycheck and you’re not thinking about the level of happiness or why you’re doing it, or whether it’s an intentional move, maybe you need to pause for a second, John, saying get moving. Sure. But pause for a second and ask yourself, what is it that you actually want? You can think all the way to Matt’s, you know, deathbed comment is when you’re there, when you look back, is what you’re doing right now exactly what you think you’re going to be happy that you did or is there something different and that’s a hard question to ask.

00:32:29:00 – 00:32:50:07
Kyle Pearce
You won’t come to any sort of hard conclusions here. But ultimately, at the end of the day, I think being a little bit outside of the norm is what a lot of people are going to be looking for. Right. For me, I want people to look back at me and go like he did teaching. He did real estate investing, he did insurance, he did a math consult, teaching business with a good friend and partner.

00:32:50:13 – 00:33:07:11
Kyle Pearce
He did all of these different things because he wanted to do them, not because he was just floating around job to job, but because he wanted to do it. He wanted the experience to do it. So what does that look like for you? What does that plan look like for you? And of course, if you need someone to help coach you through that, reach out to us.

00:33:07:11 – 00:33:26:24
Kyle Pearce
Head over to the investor teacher Ecom website. We’ve got some buttons there where you can opt into our email. We’ve got our booklist over at Canadian Wealth Secrets dot com forward slash books and you can of course book a call with us to discuss your plan. Where are you at? Where’s your headspace? What is it that you’re trying to achieve?

00:33:27:05 – 00:33:52:16
Kyle Pearce
We might be able to point you in a direction as to what your immediate next step might be for you, for your family, for your legacy. So hopefully you gain something from this. And of course, if you did, we would so appreciate a reading and review on Apple Podcasts, Spotify or whatever platform you’re on. It goes a long way for us to reach more invested students just like you.

00:33:52:18 – 00:34:07:09
Matt Biggley
Thanks, Kyle. A reminder to our listeners at all links, resources and transcripts from this episode can be found over on the website that’s invested. Teacher dot com Forward slash Episode 33 That’s investor teacher dot com forward slash episode 33.

00:34:07:11 – 00:34:24:21
Jon Orr
All right, Investors, students class dismissed.

00:34:24:23 – 00:34:44:03
Kyle Pearce
Hey there friends. This is just a reminder that the content from this show is intended for informational purposes only. You should not construe any such information or other material as a legal tax. Invest, ment, financial or other advice. We look forward to seeing you next time.

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