{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":1.31,"endTime":3.8,"body":"Hey, welcome back"},{"speaker":"Average Joe Finances","startTime":1.31,"endTime":3.8,"body":"to the Average Joe Finances podcast."},{"speaker":"Average Joe Finances","startTime":3.8,"endTime":7.65,"body":"I'm your host Mike Cavaggioni,"},{"speaker":"Average Joe Finances","startTime":3.8,"endTime":7.65,"body":"and today's guest is John Foong."},{"speaker":"Average Joe Finances","startTime":7.67,"endTime":9.62,"body":"So John, super excited."},{"speaker":"Average Joe Finances","startTime":9.625,"endTime":13.89,"body":"It is actually tomorrow where"},{"speaker":"Average Joe Finances","startTime":9.625,"endTime":13.89,"body":"we're talking to you from, right?"},{"speaker":"Average Joe Finances","startTime":14.13,"endTime":14.61,"body":"We got this."},{"speaker":"John Foong","startTime":14.615,"endTime":16.05,"body":"Welcome,"},{"speaker":"John Foong","startTime":14.615,"endTime":16.05,"body":"welcome from the future."},{"speaker":"Average Joe Finances","startTime":16.5,"endTime":16.77,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":16.77,"endTime":17.16,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":17.16,"endTime":18.96,"body":"So back, yeah, back to"},{"speaker":"Average Joe Finances","startTime":17.16,"endTime":18.96,"body":"the future over here."},{"speaker":"Average Joe Finances","startTime":18.96,"endTime":20.34,"body":"Hey, welcome to the show."},{"speaker":"John Foong","startTime":21.18,"endTime":21.75,"body":"Thanks, Mike."},{"speaker":"John Foong","startTime":21.75,"endTime":22.86,"body":"It's a great honoree here."},{"speaker":"John Foong","startTime":22.86,"endTime":26.26,"body":"You do a wonderful service for the global"},{"speaker":"John Foong","startTime":22.86,"endTime":26.26,"body":"community on a very important topic."},{"speaker":"John Foong","startTime":26.26,"endTime":27.13,"body":"Thank you for involving me."},{"speaker":"Average Joe Finances","startTime":27.52,"endTime":28.655,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":27.52,"endTime":28.655,"body":"no I appreciate it, and I"},{"speaker":"Average Joe Finances","startTime":28.655,"endTime":29.735,"body":"appreciate you taking the time."},{"speaker":"Average Joe Finances","startTime":29.735,"endTime":33.045,"body":"I know it's pretty early in the"},{"speaker":"Average Joe Finances","startTime":29.735,"endTime":33.045,"body":"morning the next day over there."},{"speaker":"Average Joe Finances","startTime":33.05,"endTime":33.135,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":33.135,"endTime":33.455,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":33.605,"endTime":37.235,"body":"Even though it's only about a four"},{"speaker":"Average Joe Finances","startTime":33.605,"endTime":37.235,"body":"hour time difference it's realistically"},{"speaker":"Average Joe Finances","startTime":37.295,"endTime":40.565,"body":"about a 20 hour time difference"},{"speaker":"Average Joe Finances","startTime":37.295,"endTime":40.565,"body":"if you go the right direction."},{"speaker":"Average Joe Finances","startTime":40.965,"endTime":42.135,"body":"But no this is exciting."},{"speaker":"Average Joe Finances","startTime":42.185,"endTime":42.755,"body":"Always excited."},{"speaker":"Average Joe Finances","startTime":42.87,"endTime":45.66,"body":"Talk to somebody on that"},{"speaker":"Average Joe Finances","startTime":42.87,"endTime":45.66,"body":"side of the hemisphere."},{"speaker":"Average Joe Finances","startTime":45.99,"endTime":50.5,"body":"And, so John, I wanna start this off by"},{"speaker":"Average Joe Finances","startTime":45.99,"endTime":50.5,"body":"asking you, did the toilet bowls really"},{"speaker":"Average Joe Finances","startTime":50.505,"endTime":52.0,"body":"flush in the opposite direction there?"},{"speaker":"John Foong","startTime":52.66,"endTime":53.11,"body":"It is true."},{"speaker":"John Foong","startTime":53.11,"endTime":53.38,"body":"It's true."},{"speaker":"John Foong","startTime":53.96,"endTime":56.09,"body":"I actually only learned that"},{"speaker":"John Foong","startTime":53.96,"endTime":56.09,"body":"from the simpsons episode."},{"speaker":"John Foong","startTime":56.09,"endTime":56.81,"body":"That was about that."},{"speaker":"Average Joe Finances","startTime":57.08,"endTime":57.35,"body":"Really?"},{"speaker":"John Foong","startTime":57.35,"endTime":58.07,"body":"About, yeah."},{"speaker":"John Foong","startTime":58.07,"endTime":59.52,"body":"This is oh my goodness, 30 years ago."},{"speaker":"John Foong","startTime":59.74,"endTime":62.07,"body":"But yes the actually water does"},{"speaker":"John Foong","startTime":59.74,"endTime":62.07,"body":"flow in a different direction"},{"speaker":"John Foong","startTime":62.07,"endTime":63.0,"body":"in the southern hemisphere."},{"speaker":"John Foong","startTime":63.06,"endTime":64.2,"body":"So good day."},{"speaker":"John Foong","startTime":64.23,"endTime":65.505,"body":"And that's today's fun fact."},{"speaker":"Average Joe Finances","startTime":66.185,"endTime":66.475,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":66.575,"endTime":66.965,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":67.015,"endTime":67.735,"body":"Thank you for that."},{"speaker":"Average Joe Finances","startTime":67.735,"endTime":70.645,"body":"And you know what's funny is that's,"},{"speaker":"Average Joe Finances","startTime":67.735,"endTime":70.645,"body":"I think this is like the first time"},{"speaker":"Average Joe Finances","startTime":71.635,"endTime":74.635,"body":"that the first question I asked a"},{"speaker":"Average Joe Finances","startTime":71.635,"endTime":74.635,"body":"guest wasn't the question that I"},{"speaker":"Average Joe Finances","startTime":74.635,"endTime":77.215,"body":"always ask a guest that comes on."},{"speaker":"Average Joe Finances","startTime":77.455,"endTime":81.185,"body":"So let's make that the second"},{"speaker":"Average Joe Finances","startTime":77.455,"endTime":81.185,"body":"question and that's gonna be we'd"},{"speaker":"Average Joe Finances","startTime":81.185,"endTime":82.535,"body":"like to know more about you John."},{"speaker":"Average Joe Finances","startTime":82.565,"endTime":85.085,"body":"So could you share a little bit"},{"speaker":"Average Joe Finances","startTime":82.565,"endTime":85.085,"body":"about yourself and share your story?"},{"speaker":"Average Joe Finances","startTime":85.085,"endTime":87.465,"body":"Tell us who is John Foong?"},{"speaker":"John Foong","startTime":88.265,"endTime":88.885,"body":"Oh, Mike."},{"speaker":"John Foong","startTime":88.955,"endTime":91.025,"body":"That is the question I think we"},{"speaker":"John Foong","startTime":88.955,"endTime":91.025,"body":"all grappled with for our lives."},{"speaker":"John Foong","startTime":91.205,"endTime":95.455,"body":"But not to get too philosophical"},{"speaker":"John Foong","startTime":91.205,"endTime":95.455,"body":"my, professionally I lead sales at"},{"speaker":"John Foong","startTime":95.785,"endTime":98.545,"body":"Domain, which is one of Australasia's"},{"speaker":"John Foong","startTime":95.785,"endTime":98.545,"body":"largest real estate portals."},{"speaker":"John Foong","startTime":98.975,"endTime":103.645,"body":"So we help, buyers and sellers,"},{"speaker":"John Foong","startTime":98.975,"endTime":103.645,"body":"moms and dads investors and renters"},{"speaker":"John Foong","startTime":103.645,"endTime":105.065,"body":"find, sell their dream property."},{"speaker":"John Foong","startTime":105.065,"endTime":107.005,"body":"And we do a lot of work"},{"speaker":"John Foong","startTime":105.065,"endTime":107.005,"body":"with real estate agents."},{"speaker":"John Foong","startTime":107.56,"endTime":108.31,"body":"That's my day job."},{"speaker":"John Foong","startTime":108.31,"endTime":110.24,"body":"I've done it for about"},{"speaker":"John Foong","startTime":108.31,"endTime":110.24,"body":"two years and I love it."},{"speaker":"John Foong","startTime":110.3,"endTime":111.32,"body":"It's an amazing journey."},{"speaker":"John Foong","startTime":111.32,"endTime":113.87,"body":"Even though the market's been"},{"speaker":"John Foong","startTime":111.32,"endTime":113.87,"body":"tough all around the world, it's"},{"speaker":"John Foong","startTime":113.87,"endTime":116.88,"body":"so important to inspire confidence"},{"speaker":"John Foong","startTime":113.87,"endTime":116.88,"body":"in people's property journey."},{"speaker":"John Foong","startTime":117.07,"endTime":119.79,"body":"That's my day job, and that"},{"speaker":"John Foong","startTime":117.07,"endTime":119.79,"body":"comes to the back of about 15"},{"speaker":"John Foong","startTime":119.795,"endTime":120.78,"body":"years in the tech industry."},{"speaker":"John Foong","startTime":120.785,"endTime":124.86,"body":"So I was 13 years at Google, two"},{"speaker":"John Foong","startTime":120.785,"endTime":124.86,"body":"years at Uber, most of that time in"},{"speaker":"John Foong","startTime":124.86,"endTime":126.27,"body":"the us, half that time in Europe."},{"speaker":"John Foong","startTime":126.52,"endTime":129.245,"body":"Even though I'm from Australia, so I've"},{"speaker":"John Foong","startTime":126.52,"endTime":129.245,"body":"had the chance to really understand"},{"speaker":"John Foong","startTime":129.455,"endTime":133.115,"body":"technology portals and marketplaces"},{"speaker":"John Foong","startTime":129.455,"endTime":133.115,"body":"across a range of amazing companies."},{"speaker":"John Foong","startTime":133.88,"endTime":134.84,"body":"That's my professional story."},{"speaker":"John Foong","startTime":135.36,"endTime":137.66,"body":"On, on a personal note I"},{"speaker":"John Foong","startTime":135.36,"endTime":137.66,"body":"grew up here in Australia."},{"speaker":"John Foong","startTime":137.69,"endTime":141.12,"body":"My parents migrated from Malaysia"},{"speaker":"John Foong","startTime":137.69,"endTime":141.12,"body":"and Hong Kong before I was born."},{"speaker":"John Foong","startTime":141.52,"endTime":144.01,"body":"And I had the chance to"},{"speaker":"John Foong","startTime":141.52,"endTime":144.01,"body":"grow up here in Sydney."},{"speaker":"John Foong","startTime":144.015,"endTime":145.035,"body":"It's an amazing place."},{"speaker":"John Foong","startTime":145.545,"endTime":149.035,"body":"I grew up in Sydney actually, did"},{"speaker":"John Foong","startTime":145.545,"endTime":149.035,"body":"my undergraduate studies here."},{"speaker":"John Foong","startTime":149.355,"endTime":152.925,"body":"Did my first job here, then spent the next"},{"speaker":"John Foong","startTime":149.355,"endTime":152.925,"body":"17 years overseas and I just came back"},{"speaker":"John Foong","startTime":153.195,"endTime":156.805,"body":"two years ago to be with my family here"},{"speaker":"John Foong","startTime":153.195,"endTime":156.805,"body":"and bring my wife and kids along with me."},{"speaker":"John Foong","startTime":157.265,"endTime":158.945,"body":"And that's paralleled"},{"speaker":"John Foong","startTime":157.265,"endTime":158.945,"body":"my investing journey."},{"speaker":"John Foong","startTime":159.195,"endTime":162.145,"body":"I had the chance to purchase"},{"speaker":"John Foong","startTime":159.195,"endTime":162.145,"body":"my first house when I was 18."},{"speaker":"John Foong","startTime":162.395,"endTime":164.285,"body":"And that has been out of a culture of."},{"speaker":"John Foong","startTime":164.385,"endTime":165.195,"body":"Property investing."},{"speaker":"John Foong","startTime":165.255,"endTime":168.315,"body":"My dad was a real estate agent, but"},{"speaker":"John Foong","startTime":165.255,"endTime":168.315,"body":"even before he was a real estate"},{"speaker":"John Foong","startTime":168.315,"endTime":169.665,"body":"agent, he was an auditor at a bank."},{"speaker":"John Foong","startTime":169.965,"endTime":172.575,"body":"It was just tradition as his"},{"speaker":"John Foong","startTime":169.965,"endTime":172.575,"body":"father had done before him."},{"speaker":"John Foong","startTime":172.815,"endTime":175.405,"body":"As soon as you have income, you"},{"speaker":"John Foong","startTime":172.815,"endTime":175.405,"body":"invest in property and you do shares"},{"speaker":"John Foong","startTime":175.405,"endTime":176.635,"body":"on the side, stops on the side."},{"speaker":"John Foong","startTime":176.635,"endTime":177.925,"body":"I can talk a lot more about that journey."},{"speaker":"John Foong","startTime":177.925,"endTime":179.83,"body":"But I've been chief Revenue Officer."},{"speaker":"John Foong","startTime":179.83,"endTime":181.685,"body":"That's my current job, a technologist."},{"speaker":"John Foong","startTime":181.685,"endTime":183.945,"body":"That's been my career"},{"speaker":"John Foong","startTime":181.685,"endTime":183.945,"body":"and throughout my life."},{"speaker":"John Foong","startTime":183.945,"endTime":186.355,"body":"A property investor with a lot"},{"speaker":"John Foong","startTime":183.945,"endTime":186.355,"body":"of interest in stocks as well."},{"speaker":"Average Joe Finances","startTime":187.78,"endTime":190.84,"body":"John,"},{"speaker":"Average Joe Finances","startTime":187.78,"endTime":190.84,"body":"all interesting aspects of your"},{"speaker":"Average Joe Finances","startTime":190.84,"endTime":194.73,"body":"life especially, when it comes"},{"speaker":"Average Joe Finances","startTime":190.84,"endTime":194.73,"body":"to what this podcast is about."},{"speaker":"Average Joe Finances","startTime":194.73,"endTime":199.635,"body":"I'm curious now with learning about some"},{"speaker":"Average Joe Finances","startTime":194.73,"endTime":199.635,"body":"of those things in your background what"},{"speaker":"Average Joe Finances","startTime":199.635,"endTime":202.191,"body":"are some of the things and this might"},{"speaker":"Average Joe Finances","startTime":199.635,"endTime":202.191,"body":"be this can be a little bit different,"},{"speaker":"Average Joe Finances","startTime":202.196,"endTime":206.806,"body":"but what are some of the things you"},{"speaker":"Average Joe Finances","startTime":202.196,"endTime":206.806,"body":"learned at Google and maybe Uber, at"},{"speaker":"Average Joe Finances","startTime":206.806,"endTime":211.726,"body":"least on the tech side, that you think"},{"speaker":"Average Joe Finances","startTime":206.806,"endTime":211.726,"body":"helped you on your investing side?"},{"speaker":"John Foong","startTime":213.266,"endTime":214.136,"body":"That's a great question, Mike."},{"speaker":"John Foong","startTime":215.286,"endTime":219.876,"body":"I think what Google and Uber and those"},{"speaker":"John Foong","startTime":215.286,"endTime":219.876,"body":"Silicon Valley tech companies to make a"},{"speaker":"John Foong","startTime":219.881,"endTime":223.466,"body":"broad generalization, I lived in Silicon"},{"speaker":"John Foong","startTime":219.881,"endTime":223.466,"body":"Valley for over 10 years, so it was"},{"speaker":"John Foong","startTime":223.646,"endTime":225.676,"body":"my life I was at Stanford for a while."},{"speaker":"John Foong","startTime":225.676,"endTime":230.731,"body":"And that I think what those"},{"speaker":"John Foong","startTime":225.676,"endTime":230.731,"body":"companies have is deep paranoia."},{"speaker":"John Foong","startTime":231.931,"endTime":233.311,"body":"There is this nurses paranoid."},{"speaker":"Average Joe Finances","startTime":233.311,"endTime":234.901,"body":"That's not"},{"speaker":"Average Joe Finances","startTime":233.311,"endTime":234.901,"body":"something I was expecting to hear."},{"speaker":"Average Joe Finances","startTime":235.711,"endTime":236.521,"body":"Please tell me more."},{"speaker":"John Foong","startTime":236.781,"endTime":239.721,"body":"I actually think it's one"},{"speaker":"John Foong","startTime":236.781,"endTime":239.721,"body":"of those things that makes, again, I'll"},{"speaker":"John Foong","startTime":239.721,"endTime":244.011,"body":"generalize American technology companies"},{"speaker":"John Foong","startTime":239.721,"endTime":244.011,"body":"so great and often so dominant is there"},{"speaker":"John Foong","startTime":244.011,"endTime":247.821,"body":"is this belief of, okay, number one, in a"},{"speaker":"John Foong","startTime":244.011,"endTime":247.821,"body":"positive way, how do we change the world?"},{"speaker":"John Foong","startTime":248.751,"endTime":249.471,"body":"How do we change the world?"},{"speaker":"John Foong","startTime":249.471,"endTime":251.781,"body":"What's it gonna look like to"},{"speaker":"John Foong","startTime":249.471,"endTime":251.781,"body":"make something at Google, they"},{"speaker":"John Foong","startTime":251.786,"endTime":252.801,"body":"called it the toothbrush test."},{"speaker":"John Foong","startTime":253.311,"endTime":256.761,"body":"Something so useful that everyone in"},{"speaker":"John Foong","startTime":253.311,"endTime":256.761,"body":"the world uses it multiple times a day."},{"speaker":"John Foong","startTime":257.241,"endTime":257.811,"body":"That's great."},{"speaker":"John Foong","startTime":257.841,"endTime":258.261,"body":"That's positive."},{"speaker":"John Foong","startTime":258.266,"endTime":258.801,"body":"That's wonderful."},{"speaker":"John Foong","startTime":259.491,"endTime":262.521,"body":"And on the, I guess the more"},{"speaker":"John Foong","startTime":259.491,"endTime":262.521,"body":"cynical or negative or skeptical"},{"speaker":"John Foong","startTime":262.521,"endTime":265.161,"body":"side, there is belief that somebody"},{"speaker":"John Foong","startTime":262.521,"endTime":265.161,"body":"is gonna come and disrupt us."},{"speaker":"John Foong","startTime":265.701,"endTime":266.961,"body":"Someone's gonna come"},{"speaker":"John Foong","startTime":265.701,"endTime":266.961,"body":"and disrupt us, right?"},{"speaker":"John Foong","startTime":266.991,"endTime":270.081,"body":"There's some person in the garage,"},{"speaker":"John Foong","startTime":266.991,"endTime":270.081,"body":"mark Zuckerberg, Harvard Dropout,"},{"speaker":"John Foong","startTime":270.111,"endTime":272.691,"body":"he's gonna build the next and"},{"speaker":"John Foong","startTime":270.111,"endTime":272.691,"body":"that's gonna disrupt whatever it's."},{"speaker":"John Foong","startTime":273.871,"endTime":276.846,"body":"And those mindsets are very"},{"speaker":"John Foong","startTime":273.871,"endTime":276.846,"body":"powerful and very useful."},{"speaker":"John Foong","startTime":277.206,"endTime":279.186,"body":"They can be a bit much if"},{"speaker":"John Foong","startTime":277.206,"endTime":279.186,"body":"you get carried away with it."},{"speaker":"John Foong","startTime":279.696,"endTime":282.666,"body":"And so I think for me, what that's brought"},{"speaker":"John Foong","startTime":279.696,"endTime":282.666,"body":"into my own investing is to play out both"},{"speaker":"John Foong","startTime":282.666,"endTime":284.196,"body":"the best case of the use of Wolf's case."},{"speaker":"John Foong","startTime":284.676,"endTime":287.406,"body":"The best case is what does it"},{"speaker":"John Foong","startTime":284.676,"endTime":287.406,"body":"look like to have a finance"},{"speaker":"John Foong","startTime":287.411,"endTime":288.666,"body":"journey that super proud of?"},{"speaker":"John Foong","startTime":289.041,"endTime":292.851,"body":"That you know that my kids can benefit"},{"speaker":"John Foong","startTime":289.041,"endTime":292.851,"body":"from my grandkids, my great-grandkids."},{"speaker":"John Foong","startTime":292.851,"endTime":293.691,"body":"What would that look like?"},{"speaker":"John Foong","startTime":293.691,"endTime":294.831,"body":"How do you plan for the future?"},{"speaker":"John Foong","startTime":294.831,"endTime":296.751,"body":"How do you plan for world domination?"},{"speaker":"John Foong","startTime":296.931,"endTime":300.021,"body":"That's the mindset that you get,"},{"speaker":"John Foong","startTime":296.931,"endTime":300.021,"body":"again, coming out of America, coming"},{"speaker":"John Foong","startTime":300.021,"endTime":303.171,"body":"outta Silicon Valley, but at the same"},{"speaker":"John Foong","startTime":300.021,"endTime":303.171,"body":"time, you play out the worst case,"},{"speaker":"John Foong","startTime":303.231,"endTime":304.611,"body":"like in this case, it's not, what?"},{"speaker":"John Foong","startTime":304.616,"endTime":306.531,"body":"Will someone displace me as an investor?"},{"speaker":"John Foong","startTime":306.536,"endTime":308.871,"body":"We're all investors here, but what"},{"speaker":"John Foong","startTime":306.536,"endTime":308.871,"body":"does the worst case look like?"},{"speaker":"John Foong","startTime":309.646,"endTime":312.766,"body":"And so for me, we used a lot of"},{"speaker":"John Foong","startTime":309.646,"endTime":312.766,"body":"financial modeling, obviously in, in"},{"speaker":"John Foong","startTime":312.766,"endTime":315.796,"body":"technology companies about best case"},{"speaker":"John Foong","startTime":312.766,"endTime":315.796,"body":"or worst case, and that's something"},{"speaker":"John Foong","startTime":315.796,"endTime":318.676,"body":"over the last 10 years I've done a lot"},{"speaker":"John Foong","startTime":315.796,"endTime":318.676,"body":"of, what is the best case scenario and"},{"speaker":"John Foong","startTime":318.681,"endTime":321.436,"body":"what could the Networth of the family"},{"speaker":"John Foong","startTime":318.681,"endTime":321.436,"body":"be and what's the worst case scenario?"},{"speaker":"John Foong","startTime":321.436,"endTime":324.386,"body":"And how might we mitigate that"},{"speaker":"John Foong","startTime":321.436,"endTime":324.386,"body":"if those things were would occur?"},{"speaker":"Average Joe Finances","startTime":327.031,"endTime":328.731,"body":"So that's"},{"speaker":"Average Joe Finances","startTime":327.031,"endTime":328.731,"body":"interesting that's one of the things"},{"speaker":"Average Joe Finances","startTime":328.731,"endTime":332.951,"body":"that you took away from that, and I never"},{"speaker":"Average Joe Finances","startTime":328.731,"endTime":332.951,"body":"really thought about that kind of mindset"},{"speaker":"Average Joe Finances","startTime":332.951,"endTime":334.601,"body":"that these big tech companies would have."},{"speaker":"Average Joe Finances","startTime":334.651,"endTime":337.181,"body":"The, and that is a good"},{"speaker":"Average Joe Finances","startTime":334.651,"endTime":337.181,"body":"way to think about it too."},{"speaker":"Average Joe Finances","startTime":337.181,"endTime":340.571,"body":"'cause when you become that big"},{"speaker":"Average Joe Finances","startTime":337.181,"endTime":340.571,"body":"and you're creating something that"},{"speaker":"Average Joe Finances","startTime":340.571,"endTime":343.871,"body":"is so useful to so many people,"},{"speaker":"Average Joe Finances","startTime":340.571,"endTime":343.871,"body":"then that is the next question."},{"speaker":"Average Joe Finances","startTime":343.871,"endTime":346.421,"body":"Okay, who's gonna be the person that"},{"speaker":"Average Joe Finances","startTime":343.871,"endTime":346.421,"body":"comes in here and disrupts this?"},{"speaker":"Average Joe Finances","startTime":346.421,"endTime":349.806,"body":"Who's gonna be the person, who's"},{"speaker":"Average Joe Finances","startTime":346.421,"endTime":349.806,"body":"gonna be that company, Amazon, who's"},{"speaker":"Average Joe Finances","startTime":349.806,"endTime":353.871,"body":"gonna be, the Facebook, the college"},{"speaker":"Average Joe Finances","startTime":349.806,"endTime":353.871,"body":"dropout that started this program?"},{"speaker":"Average Joe Finances","startTime":353.871,"endTime":354.381,"body":"You know that?"},{"speaker":"Average Joe Finances","startTime":355.101,"endTime":357.381,"body":"'cause Google was always"},{"speaker":"Average Joe Finances","startTime":355.101,"endTime":357.381,"body":"like the number one, right?"},{"speaker":"Average Joe Finances","startTime":357.381,"endTime":360.621,"body":"But before that, when I look at"},{"speaker":"Average Joe Finances","startTime":357.381,"endTime":360.621,"body":"things too I look back at the past,"},{"speaker":"Average Joe Finances","startTime":360.621,"endTime":362.151,"body":"especially on, in, on the tech side."},{"speaker":"Average Joe Finances","startTime":362.656,"endTime":364.606,"body":"And I think about my childhood, right?"},{"speaker":"Average Joe Finances","startTime":364.966,"endTime":369.096,"body":"And I think about when the, AOL"},{"speaker":"Average Joe Finances","startTime":364.966,"endTime":369.096,"body":"first came out, Uhhuh dial up"},{"speaker":"Average Joe Finances","startTime":369.096,"endTime":370.116,"body":"internet and all that stuff."},{"speaker":"Average Joe Finances","startTime":370.121,"endTime":373.806,"body":"And it was so exciting to get that"},{"speaker":"Average Joe Finances","startTime":370.121,"endTime":373.806,"body":"you've got mail thing right now."},{"speaker":"Average Joe Finances","startTime":373.806,"endTime":374.196,"body":"It's that's right."},{"speaker":"Average Joe Finances","startTime":374.346,"endTime":375.966,"body":"Stop sending me emails, please."},{"speaker":"John Foong","startTime":376.296,"endTime":376.506,"body":"Oh, totally."},{"speaker":"Average Joe Finances","startTime":376.786,"endTime":378.826,"body":"But I look"},{"speaker":"Average Joe Finances","startTime":376.786,"endTime":378.826,"body":"at that then I remember back to"},{"speaker":"Average Joe Finances","startTime":378.826,"endTime":383.166,"body":"then I'm just like, Yahoo was"},{"speaker":"Average Joe Finances","startTime":378.826,"endTime":383.166,"body":"the thing that was the place."},{"speaker":"John Foong","startTime":383.316,"endTime":383.586,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":383.586,"endTime":384.726,"body":"But then Google came."},{"speaker":"Average Joe Finances","startTime":385.296,"endTime":385.836,"body":"Disruptive."},{"speaker":"Average Joe Finances","startTime":385.836,"endTime":387.606,"body":"Not only disruptive, but"},{"speaker":"Average Joe Finances","startTime":385.836,"endTime":387.606,"body":"completely took over."},{"speaker":"John Foong","startTime":388.006,"endTime":388.216,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":388.216,"endTime":389.966,"body":"So it's"},{"speaker":"Average Joe Finances","startTime":388.216,"endTime":389.966,"body":"pretty amazing to see that."},{"speaker":"Average Joe Finances","startTime":389.966,"endTime":395.186,"body":"Now, did you see the same type of"},{"speaker":"Average Joe Finances","startTime":389.966,"endTime":395.186,"body":"mentality when you were at Uber as well?"},{"speaker":"John Foong","startTime":396.176,"endTime":396.956,"body":"Yeah, definitely."},{"speaker":"John Foong","startTime":397.266,"endTime":400.376,"body":"There is a quote by a guy called Andy"},{"speaker":"John Foong","startTime":397.266,"endTime":400.376,"body":"Grove, who's the founder and CEO of"},{"speaker":"John Foong","startTime":400.376,"endTime":404.696,"body":"Intel, which is only the paranoid survive,"},{"speaker":"John Foong","startTime":400.376,"endTime":404.696,"body":"and I definitely see it right at Google"},{"speaker":"John Foong","startTime":404.696,"endTime":406.076,"body":"and Uber at Uber when I was there."},{"speaker":"John Foong","startTime":406.076,"endTime":410.141,"body":"I was there a few years ago for two"},{"speaker":"John Foong","startTime":406.076,"endTime":410.141,"body":"years, it was the thick of competition."},{"speaker":"John Foong","startTime":410.516,"endTime":413.376,"body":"There was Lyft, that was coming,"},{"speaker":"John Foong","startTime":410.516,"endTime":413.376,"body":"and they had a cool brand."},{"speaker":"John Foong","startTime":413.376,"endTime":415.351,"body":"And we're always looking"},{"speaker":"John Foong","startTime":413.376,"endTime":415.351,"body":"at, Hey how's Lyft doing?"},{"speaker":"John Foong","startTime":415.351,"endTime":416.101,"body":"What are they innovating?"},{"speaker":"John Foong","startTime":416.101,"endTime":417.181,"body":"How, what can we learn from that?"},{"speaker":"John Foong","startTime":417.401,"endTime":418.551,"body":"How can we, one up them?"},{"speaker":"John Foong","startTime":418.821,"endTime":421.281,"body":"And then of course there's a"},{"speaker":"John Foong","startTime":418.821,"endTime":421.281,"body":"battle in each country, right?"},{"speaker":"John Foong","startTime":421.286,"endTime":424.551,"body":"There's, we're trying to expand"},{"speaker":"John Foong","startTime":421.286,"endTime":424.551,"body":"into Asia, into India, and they had"},{"speaker":"John Foong","startTime":424.551,"endTime":425.811,"body":"very strong domestic competitors."},{"speaker":"John Foong","startTime":425.811,"endTime":428.751,"body":"And then don't forget, at Uber, it's"},{"speaker":"John Foong","startTime":425.811,"endTime":428.751,"body":"not just the rides, it's Uber Eats and"},{"speaker":"John Foong","startTime":428.751,"endTime":430.881,"body":"you have, DoorDash delivery service."},{"speaker":"John Foong","startTime":430.881,"endTime":433.816,"body":"Wherever you look at it, even you might"},{"speaker":"John Foong","startTime":430.881,"endTime":433.816,"body":"go Google's no one's search engine, but."},{"speaker":"John Foong","startTime":433.876,"endTime":435.736,"body":"Let's look at the lens"},{"speaker":"John Foong","startTime":433.876,"endTime":435.736,"body":"of digital marketing."},{"speaker":"John Foong","startTime":435.796,"endTime":436.456,"body":"They're not number one there."},{"speaker":"John Foong","startTime":436.456,"endTime":437.506,"body":"Let's look at cloud computing."},{"speaker":"John Foong","startTime":437.726,"endTime":438.476,"body":"They're not number one there."},{"speaker":"John Foong","startTime":438.476,"endTime":439.826,"body":"You've got all these different spheres."},{"speaker":"John Foong","startTime":440.216,"endTime":440.906,"body":"You can always compete."},{"speaker":"John Foong","startTime":440.906,"endTime":441.596,"body":"You can always get better."},{"speaker":"John Foong","startTime":441.626,"endTime":443.546,"body":"And I think that's a"},{"speaker":"John Foong","startTime":441.626,"endTime":443.546,"body":"very positive mindset."},{"speaker":"John Foong","startTime":443.666,"endTime":446.066,"body":"Again, if you take it too"},{"speaker":"John Foong","startTime":443.666,"endTime":446.066,"body":"far, you'll never be at peace."},{"speaker":"John Foong","startTime":446.416,"endTime":450.266,"body":"But I think, it's a wonderful thing"},{"speaker":"John Foong","startTime":446.416,"endTime":450.266,"body":"to, counter what Clayton Christensen"},{"speaker":"John Foong","startTime":450.266,"endTime":453.516,"body":"calls the innovators deliver the"},{"speaker":"John Foong","startTime":450.266,"endTime":453.516,"body":"whole notion of why all successful"},{"speaker":"John Foong","startTime":453.516,"endTime":454.866,"body":"companies become unsuccessful."},{"speaker":"John Foong","startTime":455.016,"endTime":456.186,"body":"It's hard not to be complacent."},{"speaker":"Average Joe Finances","startTime":456.696,"endTime":458.563,"body":"No, I love that,"},{"speaker":"Average Joe Finances","startTime":456.696,"endTime":458.563,"body":"John, because if you do take it too"},{"speaker":"Average Joe Finances","startTime":458.563,"endTime":460.748,"body":"far, like you said, You're not gonna"},{"speaker":"Average Joe Finances","startTime":458.563,"endTime":460.748,"body":"be able to sleep at night 'cause"},{"speaker":"Average Joe Finances","startTime":461.228,"endTime":464.048,"body":"you're just gonna constantly get"},{"speaker":"Average Joe Finances","startTime":461.228,"endTime":464.048,"body":"worried around going, oh my goodness."},{"speaker":"Average Joe Finances","startTime":464.048,"endTime":464.108,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":464.108,"endTime":466.538,"body":"Constantly just worried about who's"},{"speaker":"Average Joe Finances","startTime":464.108,"endTime":466.538,"body":"that next competitor that's gonna"},{"speaker":"Average Joe Finances","startTime":466.538,"endTime":468.368,"body":"show up and be knocking on our door?"},{"speaker":"Average Joe Finances","startTime":468.368,"endTime":468.878,"body":"No, that's great."},{"speaker":"Average Joe Finances","startTime":468.878,"endTime":473.138,"body":"So now learning that kind of"},{"speaker":"Average Joe Finances","startTime":468.878,"endTime":473.138,"body":"mindset from the tech side."},{"speaker":"Average Joe Finances","startTime":473.648,"endTime":473.948,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":473.998,"endTime":477.118,"body":"You said that you've been investing,"},{"speaker":"Average Joe Finances","startTime":473.998,"endTime":477.118,"body":"you know your whole life, right?"},{"speaker":"Average Joe Finances","startTime":477.208,"endTime":477.298,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":477.388,"endTime":479.548,"body":"Ever since you were very young and."},{"speaker":"Average Joe Finances","startTime":479.948,"endTime":484.358,"body":"By learning this, do you find yourself"},{"speaker":"Average Joe Finances","startTime":479.948,"endTime":484.358,"body":"to be a little bit more paranoid about"},{"speaker":"Average Joe Finances","startTime":484.358,"endTime":486.068,"body":"when it comes to your investments?"},{"speaker":"Average Joe Finances","startTime":486.518,"endTime":491.203,"body":"Or like how does that translate into"},{"speaker":"Average Joe Finances","startTime":486.518,"endTime":491.203,"body":"your personal financial journey?"},{"speaker":"John Foong","startTime":492.643,"endTime":494.083,"body":"Yeah I think"},{"speaker":"John Foong","startTime":492.643,"endTime":494.083,"body":"let's talk about mindset."},{"speaker":"John Foong","startTime":494.113,"endTime":497.653,"body":"'cause I think, yeah, if I think"},{"speaker":"John Foong","startTime":494.113,"endTime":497.653,"body":"about my own investing journey, it is"},{"speaker":"John Foong","startTime":497.653,"endTime":500.743,"body":"the confluence of two mindsets that"},{"speaker":"John Foong","startTime":497.653,"endTime":500.743,"body":"I try and find a balance between."},{"speaker":"John Foong","startTime":501.493,"endTime":504.433,"body":"And one of those mindsets"},{"speaker":"John Foong","startTime":501.493,"endTime":504.433,"body":"is how do we get better?"},{"speaker":"John Foong","startTime":504.793,"endTime":508.558,"body":"How do we optimize with the debt, the"},{"speaker":"John Foong","startTime":504.793,"endTime":508.558,"body":"hand the cards that we've been dealt?"},{"speaker":"John Foong","startTime":508.768,"endTime":511.468,"body":"How do we do the best possible"},{"speaker":"John Foong","startTime":508.768,"endTime":511.468,"body":"things now based on what we know?"},{"speaker":"John Foong","startTime":512.248,"endTime":515.728,"body":"So that's very much an optimizer,"},{"speaker":"John Foong","startTime":512.248,"endTime":515.728,"body":"Silicon Valley, slightly"},{"speaker":"John Foong","startTime":515.733,"endTime":517.858,"body":"paranoid learning growth mindset."},{"speaker":"John Foong","startTime":518.728,"endTime":522.088,"body":"But at the same time, I try to have"},{"speaker":"John Foong","startTime":518.728,"endTime":522.088,"body":"a mindset of It's gonna be okay."},{"speaker":"John Foong","startTime":523.108,"endTime":523.528,"body":"It's gonna be okay."},{"speaker":"John Foong","startTime":523.528,"endTime":525.808,"body":"It may not be what you want,"},{"speaker":"John Foong","startTime":523.528,"endTime":525.808,"body":"but it's gonna be okay."},{"speaker":"John Foong","startTime":525.808,"endTime":529.288,"body":"And that's not just about finances, that's"},{"speaker":"John Foong","startTime":525.808,"endTime":529.288,"body":"family, that's career, things like that."},{"speaker":"John Foong","startTime":529.288,"endTime":531.418,"body":"It may not be what you want,"},{"speaker":"John Foong","startTime":529.288,"endTime":531.418,"body":"but it's gonna be okay."},{"speaker":"John Foong","startTime":531.958,"endTime":534.058,"body":"And I think my investing"},{"speaker":"John Foong","startTime":531.958,"endTime":534.058,"body":"journey is those two things."},{"speaker":"John Foong","startTime":534.598,"endTime":537.329,"body":"I'm always trying to understand"},{"speaker":"John Foong","startTime":534.598,"endTime":537.329,"body":"what do I need to change?"},{"speaker":"John Foong","startTime":538.208,"endTime":539.798,"body":"Because the market's always changing."},{"speaker":"John Foong","startTime":539.978,"endTime":541.538,"body":"My personal circumstance are changing."},{"speaker":"John Foong","startTime":541.538,"endTime":545.018,"body":"What success looks like is changing"},{"speaker":"John Foong","startTime":541.538,"endTime":545.018,"body":"what got me to this stage, what"},{"speaker":"John Foong","startTime":545.018,"endTime":546.008,"body":"would get me to the next stage."},{"speaker":"John Foong","startTime":546.398,"endTime":547.148,"body":"So what am I gonna do?"},{"speaker":"John Foong","startTime":547.153,"endTime":551.003,"body":"And I want to have that mindset always be"},{"speaker":"John Foong","startTime":547.153,"endTime":551.003,"body":"learning, but at the same time, I wanna"},{"speaker":"John Foong","startTime":551.003,"endTime":552.593,"body":"be at peace because it is gonna be fine."},{"speaker":"John Foong","startTime":552.938,"endTime":554.108,"body":"I'm here in Australia."},{"speaker":"John Foong","startTime":554.108,"endTime":555.128,"body":"It's an amazing place."},{"speaker":"John Foong","startTime":555.338,"endTime":556.358,"body":"America's an amazing place."},{"speaker":"John Foong","startTime":556.358,"endTime":560.588,"body":"We're very fortunate that even if things"},{"speaker":"John Foong","startTime":556.358,"endTime":560.588,"body":"are bad, they probably won't be that bad."},{"speaker":"John Foong","startTime":560.978,"endTime":562.928,"body":"And even if they're that bad,"},{"speaker":"John Foong","startTime":560.978,"endTime":562.928,"body":"we're gonna learn from it."},{"speaker":"John Foong","startTime":563.258,"endTime":563.978,"body":"We're gonna learn from it."},{"speaker":"John Foong","startTime":564.028,"endTime":567.263,"body":"I guess I have if you ask me about"},{"speaker":"John Foong","startTime":564.028,"endTime":567.263,"body":"what's my, how do I feel about my message"},{"speaker":"John Foong","startTime":567.263,"endTime":568.403,"body":"journey, I actually feel pretty at peace."},{"speaker":"John Foong","startTime":569.003,"endTime":571.493,"body":"I don't feel maybe as"},{"speaker":"John Foong","startTime":569.003,"endTime":571.493,"body":"paranoid as I do at work."},{"speaker":"John Foong","startTime":571.523,"endTime":572.693,"body":"I feel like it's gonna be okay."},{"speaker":"John Foong","startTime":573.053,"endTime":575.843,"body":"And I think part of that has been the"},{"speaker":"John Foong","startTime":573.053,"endTime":575.843,"body":"own financial modeling to say, okay."},{"speaker":"John Foong","startTime":576.438,"endTime":577.488,"body":"What does okay look like?"},{"speaker":"John Foong","startTime":577.788,"endTime":578.928,"body":"How much money do we survive?"},{"speaker":"John Foong","startTime":579.198,"endTime":582.078,"body":"How much money do we need to put our kids"},{"speaker":"John Foong","startTime":579.198,"endTime":582.078,"body":"through private schools or whatever our"},{"speaker":"John Foong","startTime":582.078,"endTime":584.328,"body":"family goals are, okay, do we have that?"},{"speaker":"John Foong","startTime":584.448,"endTime":585.888,"body":"What's the buffer on top of that?"},{"speaker":"John Foong","startTime":586.128,"endTime":588.378,"body":"And what adverse events"},{"speaker":"John Foong","startTime":586.128,"endTime":588.378,"body":"might eat at that buffer?"},{"speaker":"John Foong","startTime":588.408,"endTime":590.448,"body":"How likely is that and"},{"speaker":"John Foong","startTime":588.408,"endTime":590.448,"body":"what we defend against it?"},{"speaker":"John Foong","startTime":590.898,"endTime":594.863,"body":"So in some ways, the mindset helps,"},{"speaker":"John Foong","startTime":590.898,"endTime":594.863,"body":"but also see the raw numbers of okay,"},{"speaker":"John Foong","startTime":594.923,"endTime":596.303,"body":"here's the actual true situation."},{"speaker":"John Foong","startTime":596.513,"endTime":597.683,"body":"Here are some bad scenarios."},{"speaker":"John Foong","startTime":597.713,"endTime":598.733,"body":"It's unlikely to happen."},{"speaker":"John Foong","startTime":599.063,"endTime":600.173,"body":"I guess that does help as well."},{"speaker":"Average Joe Finances","startTime":601.393,"endTime":601.693,"body":"Sure."},{"speaker":"Average Joe Finances","startTime":601.693,"endTime":605.453,"body":"To always have that, like at least"},{"speaker":"Average Joe Finances","startTime":601.693,"endTime":605.453,"body":"in the back of your mind, knowing"},{"speaker":"Average Joe Finances","startTime":605.453,"endTime":608.343,"body":"what the possibilities are of"},{"speaker":"Average Joe Finances","startTime":605.453,"endTime":608.343,"body":"things that, that may or may not."},{"speaker":"Average Joe Finances","startTime":609.428,"endTime":613.143,"body":"And I think to have a little bit,"},{"speaker":"Average Joe Finances","startTime":609.428,"endTime":613.143,"body":"and I won't really call it paranoia,"},{"speaker":"Average Joe Finances","startTime":613.143,"endTime":617.663,"body":"but maybe just, to have some concern"},{"speaker":"Average Joe Finances","startTime":613.143,"endTime":617.663,"body":"about the things going around you, I"},{"speaker":"Average Joe Finances","startTime":617.663,"endTime":621.773,"body":"think is super important, especially,"},{"speaker":"Average Joe Finances","startTime":617.663,"endTime":621.773,"body":"with what we just experienced over the"},{"speaker":"Average Joe Finances","startTime":621.773,"endTime":623.873,"body":"last couple years with this pandemic."},{"speaker":"Average Joe Finances","startTime":623.873,"endTime":624.143,"body":"Oh my goodness."},{"speaker":"Average Joe Finances","startTime":624.148,"endTime":627.538,"body":"Nobody saw that coming and, for"},{"speaker":"Average Joe Finances","startTime":624.148,"endTime":627.538,"body":"people on the real estate side,"},{"speaker":"Average Joe Finances","startTime":627.538,"endTime":628.808,"body":"like they had no, we didn't know."},{"speaker":"Average Joe Finances","startTime":629.588,"endTime":633.308,"body":"Where anything was going, we had no"},{"speaker":"Average Joe Finances","startTime":629.588,"endTime":633.308,"body":"idea how this was gonna affect us,"},{"speaker":"Average Joe Finances","startTime":633.308,"endTime":634.778,"body":"how it was gonna affect home prices."},{"speaker":"Average Joe Finances","startTime":635.148,"endTime":637.373,"body":"You would think that something"},{"speaker":"Average Joe Finances","startTime":635.148,"endTime":637.373,"body":"like that, you would think all"},{"speaker":"Average Joe Finances","startTime":637.373,"endTime":638.693,"body":"the home prices were gonna drop."},{"speaker":"Average Joe Finances","startTime":638.698,"endTime":641.543,"body":"But no, everyone had a scarcity mindset."},{"speaker":"Average Joe Finances","startTime":641.543,"endTime":645.868,"body":"So the home prices here in the States just"},{"speaker":"Average Joe Finances","startTime":641.543,"endTime":645.868,"body":"skyrocketed over the next couple years."},{"speaker":"Average Joe Finances","startTime":645.873,"endTime":646.708,"body":"It was insane."},{"speaker":"Average Joe Finances","startTime":646.708,"endTime":647.428,"body":"It was bonkers."},{"speaker":"Average Joe Finances","startTime":647.638,"endTime":651.388,"body":"It did the opposite of what a lot"},{"speaker":"Average Joe Finances","startTime":647.638,"endTime":651.388,"body":"of people were calling for, right?"},{"speaker":"Average Joe Finances","startTime":651.598,"endTime":655.918,"body":"So that, that goes to show that"},{"speaker":"Average Joe Finances","startTime":651.598,"endTime":655.918,"body":"you never know what's gonna happen."},{"speaker":"Average Joe Finances","startTime":655.918,"endTime":657.838,"body":"So you should always try to be prepared."},{"speaker":"Average Joe Finances","startTime":658.378,"endTime":659.908,"body":"For whatever might come up."},{"speaker":"Average Joe Finances","startTime":660.388,"endTime":663.028,"body":"So again, not being"},{"speaker":"Average Joe Finances","startTime":660.388,"endTime":663.028,"body":"paranoid, but being prepared."},{"speaker":"John Foong","startTime":663.188,"endTime":663.698,"body":"Being prepared."},{"speaker":"John Foong","startTime":663.758,"endTime":664.148,"body":"That's good."},{"speaker":"John Foong","startTime":664.148,"endTime":664.688,"body":"Different p word."},{"speaker":"John Foong","startTime":665.048,"endTime":665.288,"body":"P word?"},{"speaker":"Average Joe Finances","startTime":665.288,"endTime":665.558,"body":"Yeah."},{"speaker":"John Foong","startTime":665.563,"endTime":666.088,"body":"Different P word."},{"speaker":"John Foong","startTime":666.498,"endTime":669.528,"body":"It actually, I referred to the"},{"speaker":"John Foong","startTime":666.498,"endTime":669.528,"body":"last five years, so our eldest"},{"speaker":"John Foong","startTime":669.528,"endTime":670.488,"body":"daughter, we have, we're lucky."},{"speaker":"John Foong","startTime":670.758,"endTime":672.988,"body":"We're lucky have three girls"},{"speaker":"John Foong","startTime":670.758,"endTime":672.988,"body":"which is beautiful and crazy."},{"speaker":"Average Joe Finances","startTime":672.993,"endTime":673.473,"body":"I got two."},{"speaker":"John Foong","startTime":673.573,"endTime":674.233,"body":"Oh my goodness."},{"speaker":"Average Joe Finances","startTime":674.263,"endTime":674.323,"body":"Yeah."},{"speaker":"John Foong","startTime":674.603,"endTime":675.703,"body":"No it's an amazing gift."},{"speaker":"John Foong","startTime":675.773,"endTime":676.973,"body":"And obviously they're quite young."},{"speaker":"John Foong","startTime":676.973,"endTime":678.928,"body":"One is, five months, one"},{"speaker":"John Foong","startTime":676.973,"endTime":678.928,"body":"has just turned three."},{"speaker":"John Foong","startTime":678.928,"endTime":679.468,"body":"The other one's four and."},{"speaker":"John Foong","startTime":680.803,"endTime":684.403,"body":"When my first one was born, four"},{"speaker":"John Foong","startTime":680.803,"endTime":684.403,"body":"and a half years ago, I think"},{"speaker":"John Foong","startTime":684.433,"endTime":686.713,"body":"when you become a father, everyone"},{"speaker":"John Foong","startTime":684.433,"endTime":686.713,"body":"has a different experience."},{"speaker":"John Foong","startTime":686.713,"endTime":689.533,"body":"Mine was like this wonderful"},{"speaker":"John Foong","startTime":686.713,"endTime":689.533,"body":"sense of awe and heightened"},{"speaker":"John Foong","startTime":689.533,"endTime":691.273,"body":"sense of responsibility, right?"},{"speaker":"John Foong","startTime":691.273,"endTime":692.563,"body":"And it's oh wow, okay."},{"speaker":"John Foong","startTime":692.613,"endTime":693.123,"body":"What are we gonna do?"},{"speaker":"John Foong","startTime":693.153,"endTime":694.863,"body":"What happens if the bad happens?"},{"speaker":"John Foong","startTime":694.923,"endTime":697.493,"body":"cause before it's me and my wife and we're"},{"speaker":"John Foong","startTime":694.923,"endTime":697.493,"body":"both working and we're gonna be okay."},{"speaker":"John Foong","startTime":697.493,"endTime":700.223,"body":"And now you have this, helpless,"},{"speaker":"John Foong","startTime":697.493,"endTime":700.223,"body":"dependent, on you, whatcha gonna do."},{"speaker":"John Foong","startTime":700.913,"endTime":702.773,"body":"And I did find it very helpful"},{"speaker":"John Foong","startTime":700.913,"endTime":702.773,"body":"at that point in time to"},{"speaker":"John Foong","startTime":702.773,"endTime":703.763,"body":"do a family balance sheet."},{"speaker":"John Foong","startTime":704.768,"endTime":707.018,"body":"It's actually just go, okay,"},{"speaker":"John Foong","startTime":704.768,"endTime":707.018,"body":"let's put all on one Google sheet."},{"speaker":"John Foong","startTime":707.078,"endTime":707.978,"body":"Let's add it all together."},{"speaker":"John Foong","startTime":708.228,"endTime":709.188,"body":"What's our borrowings?"},{"speaker":"John Foong","startTime":709.268,"endTime":709.958,"body":"What's our assets?"},{"speaker":"John Foong","startTime":710.228,"endTime":711.183,"body":"And that was very helpful."},{"speaker":"John Foong","startTime":711.753,"endTime":715.443,"body":"And then number two, what I did was"},{"speaker":"John Foong","startTime":711.753,"endTime":715.443,"body":"actually start to build on top of that a"},{"speaker":"John Foong","startTime":715.443,"endTime":718.773,"body":"profit and loss statement, which is, okay,"},{"speaker":"John Foong","startTime":715.443,"endTime":718.773,"body":"based on what we're earning now, based"},{"speaker":"John Foong","startTime":718.773,"endTime":722.803,"body":"off, my wife goes back to work part-time,"},{"speaker":"John Foong","startTime":718.773,"endTime":722.803,"body":"or whatever the arrangement is, how much"},{"speaker":"John Foong","startTime":722.803,"endTime":724.692,"body":"would our net wealth grow or decline?"},{"speaker":"John Foong","startTime":725.202,"endTime":727.742,"body":"So you get a balance sheet and then"},{"speaker":"John Foong","startTime":725.202,"endTime":727.742,"body":"you time series that five years"},{"speaker":"John Foong","startTime":727.742,"endTime":729.122,"body":"in advance is what we'll do next."},{"speaker":"John Foong","startTime":729.302,"endTime":732.482,"body":"And then I found it very helpful to"},{"speaker":"John Foong","startTime":729.302,"endTime":732.482,"body":"run a bunch of, I guess in the core,"},{"speaker":"John Foong","startTime":732.482,"endTime":733.772,"body":"what we call like penetration tests."},{"speaker":"John Foong","startTime":733.992,"endTime":738.462,"body":"Hey, what happens if you know there's"},{"speaker":"John Foong","startTime":733.992,"endTime":738.462,"body":"a stock market decline of 50%?"},{"speaker":"John Foong","startTime":739.022,"endTime":741.572,"body":"What happens if there's"},{"speaker":"John Foong","startTime":739.022,"endTime":741.572,"body":"a housing decline of 30%?"},{"speaker":"John Foong","startTime":741.852,"endTime":743.232,"body":"What happens if I lose my job?"},{"speaker":"John Foong","startTime":743.442,"endTime":744.822,"body":"What happens if she lose her job?"},{"speaker":"John Foong","startTime":744.852,"endTime":747.827,"body":"What happens if we have a"},{"speaker":"John Foong","startTime":744.852,"endTime":747.827,"body":"medical problem with the family?"},{"speaker":"John Foong","startTime":747.827,"endTime":752.277,"body":"Either ourselves, our parents, our child"},{"speaker":"John Foong","startTime":747.827,"endTime":752.277,"body":"that costs, a few hundred thousand dollars"},{"speaker":"John Foong","startTime":752.637,"endTime":754.197,"body":"and you run those tests against it?"},{"speaker":"John Foong","startTime":754.587,"endTime":755.702,"body":"And I found that very helpful."},{"speaker":"John Foong","startTime":755.982,"endTime":759.542,"body":"Number one because it it almost"},{"speaker":"John Foong","startTime":755.982,"endTime":759.542,"body":"brought a set of numbers to"},{"speaker":"John Foong","startTime":759.632,"endTime":761.432,"body":"a unfathomable situation."},{"speaker":"John Foong","startTime":761.432,"endTime":764.797,"body":"So it brought data, it brought"},{"speaker":"John Foong","startTime":761.432,"endTime":764.797,"body":"assumptions to something which is scary"},{"speaker":"John Foong","startTime":764.802,"endTime":769.237,"body":"black box, but it also gave us some"},{"speaker":"John Foong","startTime":764.802,"endTime":769.237,"body":"assurance that actually we'd be okay."},{"speaker":"John Foong","startTime":769.937,"endTime":772.422,"body":"We, if this happened, we would"},{"speaker":"John Foong","startTime":769.937,"endTime":772.422,"body":"sell this investment property."},{"speaker":"John Foong","startTime":772.422,"endTime":773.772,"body":"If this happened, we sell the stocks."},{"speaker":"John Foong","startTime":774.132,"endTime":776.712,"body":"If this happened, then if I didn't"},{"speaker":"John Foong","startTime":774.132,"endTime":776.712,"body":"have to work for two years, here's"},{"speaker":"John Foong","startTime":776.712,"endTime":778.722,"body":"how it'd handle it, would cut"},{"speaker":"John Foong","startTime":776.712,"endTime":778.722,"body":"these expenses, would do that."},{"speaker":"John Foong","startTime":779.142,"endTime":779.982,"body":"So it just helped us."},{"speaker":"John Foong","startTime":780.017,"endTime":782.137,"body":"Be prepared and, we're grateful."},{"speaker":"John Foong","startTime":782.197,"endTime":783.727,"body":"None of those things actually happened."},{"speaker":"John Foong","startTime":783.977,"endTime":787.037,"body":"But it helped us make, helped us"},{"speaker":"John Foong","startTime":783.977,"endTime":787.037,"body":"feel more assured about our situation"},{"speaker":"John Foong","startTime":787.247,"endTime":789.917,"body":"and also make some investment"},{"speaker":"John Foong","startTime":787.247,"endTime":789.917,"body":"changes so that we were ready."},{"speaker":"Average Joe Finances","startTime":790.817,"endTime":790.967,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":790.967,"endTime":794.427,"body":"John I love that, that is phenomenal"},{"speaker":"Average Joe Finances","startTime":790.967,"endTime":794.427,"body":"because that goes along with the theme,"},{"speaker":"Average Joe Finances","startTime":794.427,"endTime":795.987,"body":"like I said before about being prepared."},{"speaker":"Average Joe Finances","startTime":795.992,"endTime":801.132,"body":"You built this family balance sheet and"},{"speaker":"Average Joe Finances","startTime":795.992,"endTime":801.132,"body":"you're able to use this to make sure."},{"speaker":"Average Joe Finances","startTime":801.737,"endTime":805.607,"body":"Especially after having your first"},{"speaker":"Average Joe Finances","startTime":801.737,"endTime":805.607,"body":"daughter that you wanna make sure that"},{"speaker":"Average Joe Finances","startTime":805.607,"endTime":807.137,"body":"no matter what, you're gonna be okay."},{"speaker":"Average Joe Finances","startTime":807.237,"endTime":807.357,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":807.357,"endTime":808.947,"body":"And that's one of the things"},{"speaker":"Average Joe Finances","startTime":807.357,"endTime":808.947,"body":"I wrote down too, right?"},{"speaker":"Average Joe Finances","startTime":808.947,"endTime":811.917,"body":"That, part of your mindset"},{"speaker":"Average Joe Finances","startTime":808.947,"endTime":811.917,"body":"is it's going to be okay, and"},{"speaker":"Average Joe Finances","startTime":811.922,"endTime":813.207,"body":"why is it going to be okay?"},{"speaker":"Average Joe Finances","startTime":813.627,"endTime":815.457,"body":"Because I've prepared for this, right?"},{"speaker":"Average Joe Finances","startTime":815.462,"endTime":819.657,"body":"I've prepared for these different"},{"speaker":"Average Joe Finances","startTime":815.462,"endTime":819.657,"body":"scenarios that might come up, right?"},{"speaker":"Average Joe Finances","startTime":820.007,"endTime":823.182,"body":"And then, the other thing you"},{"speaker":"Average Joe Finances","startTime":820.007,"endTime":823.182,"body":"said too that I really love was"},{"speaker":"Average Joe Finances","startTime":823.182,"endTime":824.262,"body":"the always be learning, right?"},{"speaker":"Average Joe Finances","startTime":824.262,"endTime":825.172,"body":"Because I love that."},{"speaker":"Average Joe Finances","startTime":825.172,"endTime":828.142,"body":"'cause for me, myself,"},{"speaker":"Average Joe Finances","startTime":825.172,"endTime":828.142,"body":"I'm a content sponge."},{"speaker":"Average Joe Finances","startTime":828.412,"endTime":832.102,"body":"I am constantly listening, see that"},{"speaker":"Average Joe Finances","startTime":828.412,"endTime":832.102,"body":"to podcasts or watching YouTube videos"},{"speaker":"Average Joe Finances","startTime":832.102,"endTime":837.492,"body":"that are, helpful for me and my family"},{"speaker":"Average Joe Finances","startTime":832.102,"endTime":837.492,"body":"helpful to me when it comes to building"},{"speaker":"Average Joe Finances","startTime":837.492,"endTime":841.772,"body":"my net worth and trying to just make"},{"speaker":"Average Joe Finances","startTime":837.492,"endTime":841.772,"body":"sure that no matter what, when I look"},{"speaker":"Average Joe Finances","startTime":841.772,"endTime":845.672,"body":"at the situations that could possibly"},{"speaker":"Average Joe Finances","startTime":841.772,"endTime":845.672,"body":"come up, that it's going to be okay."},{"speaker":"Average Joe Finances","startTime":845.677,"endTime":846.392,"body":"So I love."},{"speaker":"Average Joe Finances","startTime":846.772,"endTime":848.692,"body":"I love that theme that you went with here."},{"speaker":"Average Joe Finances","startTime":848.932,"endTime":853.172,"body":"Now I wanna talk about that too,"},{"speaker":"Average Joe Finances","startTime":848.932,"endTime":853.172,"body":"about some of your assurances"},{"speaker":"Average Joe Finances","startTime":853.172,"endTime":857.462,"body":"that you've put in place to make"},{"speaker":"Average Joe Finances","startTime":853.172,"endTime":857.462,"body":"sure that it's going to be okay."},{"speaker":"Average Joe Finances","startTime":857.512,"endTime":860.702,"body":"Four and a half years ago,"},{"speaker":"Average Joe Finances","startTime":857.512,"endTime":860.702,"body":"had your first daughter yep."},{"speaker":"Average Joe Finances","startTime":861.452,"endTime":864.532,"body":"Then three years, LA three year or no,"},{"speaker":"Average Joe Finances","startTime":861.452,"endTime":864.532,"body":"another year and a half after that, had"},{"speaker":"Average Joe Finances","startTime":864.532,"endTime":868.012,"body":"your second, and then another two and a"},{"speaker":"Average Joe Finances","startTime":864.532,"endTime":868.012,"body":"half years after that had another one."},{"speaker":"Average Joe Finances","startTime":868.492,"endTime":870.952,"body":"Having three daughters and"},{"speaker":"Average Joe Finances","startTime":868.492,"endTime":870.952,"body":"myself, I have two daughters."},{"speaker":"Average Joe Finances","startTime":870.982,"endTime":875.127,"body":"There's a lot of things, as a father"},{"speaker":"Average Joe Finances","startTime":870.982,"endTime":875.127,"body":"that you, that go through your head"},{"speaker":"Average Joe Finances","startTime":875.132,"endTime":878.032,"body":"that you wanna make sure, especially"},{"speaker":"Average Joe Finances","startTime":875.132,"endTime":878.032,"body":"for a daughter when it comes to a"},{"speaker":"Average Joe Finances","startTime":878.032,"endTime":881.422,"body":"father-daughter relationship, that"},{"speaker":"Average Joe Finances","startTime":878.032,"endTime":881.422,"body":"you wanna make sure that you're taking"},{"speaker":"Average Joe Finances","startTime":881.427,"endTime":884.482,"body":"care of them and giving them what"},{"speaker":"Average Joe Finances","startTime":881.427,"endTime":884.482,"body":"they need to grow and thrive in life."},{"speaker":"Average Joe Finances","startTime":885.022,"endTime":885.212,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":885.217,"endTime":888.562,"body":"And when you look at these different"},{"speaker":"Average Joe Finances","startTime":885.217,"endTime":888.562,"body":"scenarios that you put in place and the"},{"speaker":"Average Joe Finances","startTime":888.562,"endTime":893.047,"body":"different things that can come up and you"},{"speaker":"Average Joe Finances","startTime":888.562,"endTime":893.047,"body":"have these assurances, what are some of"},{"speaker":"Average Joe Finances","startTime":893.047,"endTime":895.177,"body":"these assurances that you put together?"},{"speaker":"Average Joe Finances","startTime":895.567,"endTime":897.607,"body":"To battle these what ifs?"},{"speaker":"John Foong","startTime":899.347,"endTime":899.527,"body":"Yeah."},{"speaker":"John Foong","startTime":899.527,"endTime":902.497,"body":"I think the best way to figure"},{"speaker":"John Foong","startTime":899.527,"endTime":902.497,"body":"out insurance to me was actually"},{"speaker":"John Foong","startTime":902.647,"endTime":904.232,"body":"a series of wealth and cash flow."},{"speaker":"John Foong","startTime":905.187,"endTime":907.437,"body":"The balance sheet was very helpful"},{"speaker":"John Foong","startTime":905.187,"endTime":907.437,"body":"to say, okay, how much are we worth?"},{"speaker":"John Foong","startTime":908.217,"endTime":909.507,"body":"And then of that, how much are we worth?"},{"speaker":"John Foong","startTime":909.507,"endTime":912.617,"body":"How much is in assets, which"},{"speaker":"John Foong","startTime":909.507,"endTime":912.617,"body":"are liquidable which are"},{"speaker":"John Foong","startTime":912.622,"endTime":914.087,"body":"liquid and ones which aren't."},{"speaker":"John Foong","startTime":914.387,"endTime":914.567,"body":"Right?"},{"speaker":"John Foong","startTime":914.567,"endTime":917.662,"body":"Because yes, we have these houses"},{"speaker":"John Foong","startTime":914.567,"endTime":917.662,"body":"it's painful to sell a house."},{"speaker":"John Foong","startTime":918.032,"endTime":920.227,"body":"Part of my job is to make it"},{"speaker":"John Foong","startTime":918.032,"endTime":920.227,"body":"less painful for customers in a"},{"speaker":"John Foong","startTime":920.227,"endTime":921.827,"body":"Australasia, it's a lot, right?"},{"speaker":"John Foong","startTime":921.827,"endTime":924.657,"body":"And in a house it takes a, there's"},{"speaker":"John Foong","startTime":921.827,"endTime":924.657,"body":"no, I think one of your other"},{"speaker":"John Foong","startTime":924.662,"endTime":927.267,"body":"guests said there's no such thing"},{"speaker":"John Foong","startTime":924.662,"endTime":927.267,"body":"as passive property investing."},{"speaker":"John Foong","startTime":927.727,"endTime":927.907,"body":"You know."},{"speaker":"Average Joe Finances","startTime":928.187,"endTime":928.397,"body":"Right."},{"speaker":"John Foong","startTime":928.397,"endTime":928.74,"body":"It's work."},{"speaker":"John Foong","startTime":928.99,"endTime":930.4,"body":"You pour your heart and soul into it."},{"speaker":"John Foong","startTime":930.73,"endTime":931.57,"body":"You really get the value."},{"speaker":"John Foong","startTime":931.575,"endTime":934.15,"body":"When you hold it for a while, you get"},{"speaker":"John Foong","startTime":931.575,"endTime":934.15,"body":"the tenant there, you get the house"},{"speaker":"John Foong","startTime":934.15,"endTime":935.35,"body":"working, you, the cashflow working."},{"speaker":"John Foong","startTime":935.83,"endTime":937.6,"body":"So you've got a bunch of things"},{"speaker":"John Foong","startTime":935.83,"endTime":937.6,"body":"which are not real liquid."},{"speaker":"John Foong","startTime":937.895,"endTime":941.135,"body":"You got things which are quite illiquid"},{"speaker":"John Foong","startTime":937.895,"endTime":941.135,"body":"your 401K, like yes, in theory you"},{"speaker":"John Foong","startTime":941.135,"endTime":942.185,"body":"could touch that, but that's painful."},{"speaker":"John Foong","startTime":942.395,"endTime":943.265,"body":"You're gonna pay a lot of tax."},{"speaker":"John Foong","startTime":943.265,"endTime":946.305,"body":"If you do that and you've got stuff"},{"speaker":"John Foong","startTime":943.265,"endTime":946.305,"body":"which is actually very liquid, you might"},{"speaker":"John Foong","startTime":946.305,"endTime":949.845,"body":"have stocks, you might have bonds, you"},{"speaker":"John Foong","startTime":946.305,"endTime":949.845,"body":"might have a liquidity access line."},{"speaker":"John Foong","startTime":950.085,"endTime":954.225,"body":"And so a lot of it was actually compiling"},{"speaker":"John Foong","startTime":950.085,"endTime":954.225,"body":"here is our net wealth, and then here's"},{"speaker":"John Foong","startTime":954.23,"endTime":955.635,"body":"how we break it down to categories."},{"speaker":"John Foong","startTime":956.225,"endTime":958.885,"body":"Then the next thing was looking"},{"speaker":"John Foong","startTime":956.225,"endTime":958.885,"body":"at our cashflow and going, okay,"},{"speaker":"John Foong","startTime":959.225,"endTime":962.495,"body":"and actually at one child our"},{"speaker":"John Foong","startTime":959.225,"endTime":962.495,"body":"cashflow was pretty good, right?"},{"speaker":"John Foong","startTime":962.495,"endTime":964.625,"body":"Because actually, particularly"},{"speaker":"John Foong","startTime":962.495,"endTime":964.625,"body":"before they're at school or"},{"speaker":"John Foong","startTime":964.625,"endTime":967.115,"body":"things like that, that they"},{"speaker":"John Foong","startTime":964.625,"endTime":967.115,"body":"don't spend that much more money."},{"speaker":"John Foong","startTime":967.145,"endTime":969.825,"body":"You spend a bunch of time, a"},{"speaker":"John Foong","startTime":967.145,"endTime":969.825,"body":"bunch of money buying things."},{"speaker":"John Foong","startTime":969.825,"endTime":972.615,"body":"Though actually, particularly the"},{"speaker":"John Foong","startTime":969.825,"endTime":972.615,"body":"Bay Area where we lived, a lot"},{"speaker":"John Foong","startTime":972.615,"endTime":974.475,"body":"of people were really happy to"},{"speaker":"John Foong","startTime":972.615,"endTime":974.475,"body":"share stuff and give things away."},{"speaker":"John Foong","startTime":974.505,"endTime":977.745,"body":"So we were very fortunate that we had"},{"speaker":"John Foong","startTime":974.505,"endTime":977.745,"body":"all the stuff that there weren't that"},{"speaker":"John Foong","startTime":977.745,"endTime":979.485,"body":"many expenses and it was just one kid."},{"speaker":"John Foong","startTime":979.93,"endTime":981.73,"body":"Who didn't eat very much"},{"speaker":"John Foong","startTime":979.93,"endTime":981.73,"body":"at the very beginning."},{"speaker":"John Foong","startTime":982.27,"endTime":983.95,"body":"And so we were able to"},{"speaker":"John Foong","startTime":982.27,"endTime":983.95,"body":"go back at that season."},{"speaker":"Average Joe Finances","startTime":983.95,"endTime":986.88,"body":"Wait till"},{"speaker":"Average Joe Finances","startTime":983.95,"endTime":986.88,"body":"she becomes a teenager, trust me."},{"speaker":"John Foong","startTime":986.9,"endTime":988.93,"body":"And a teenager"},{"speaker":"John Foong","startTime":986.9,"endTime":988.93,"body":"bringing friends over."},{"speaker":"John Foong","startTime":989.29,"endTime":990.43,"body":"Oh God, I can only imagine."},{"speaker":"John Foong","startTime":990.83,"endTime":994.13,"body":"We were able to go, okay, here's"},{"speaker":"John Foong","startTime":990.83,"endTime":994.13,"body":"our Netwealth, here's the liquid"},{"speaker":"John Foong","startTime":994.13,"endTime":995.39,"body":"amount, which is the buffer."},{"speaker":"John Foong","startTime":995.625,"endTime":998.385,"body":"Okay, how much is that liquid about"},{"speaker":"John Foong","startTime":995.625,"endTime":998.385,"body":"going up and down, which is our"},{"speaker":"John Foong","startTime":998.445,"endTime":1000.425,"body":"wages versus our increased expenses?"},{"speaker":"John Foong","startTime":1000.815,"endTime":1003.815,"body":"And actually, we were still pretty"},{"speaker":"John Foong","startTime":1000.815,"endTime":1003.815,"body":"cashflow positive at that point in time."},{"speaker":"John Foong","startTime":1003.845,"endTime":1004.685,"body":"So it's okay, great."},{"speaker":"John Foong","startTime":1005.165,"endTime":1008.235,"body":"If you play out the scenarios if"},{"speaker":"John Foong","startTime":1005.165,"endTime":1008.235,"body":"nothing happens, that changes, right?"},{"speaker":"John Foong","startTime":1008.385,"endTime":1008.925,"body":"We're pretty good."},{"speaker":"John Foong","startTime":1008.925,"endTime":1012.075,"body":"We're actually gonna grow wealth"},{"speaker":"John Foong","startTime":1008.925,"endTime":1012.075,"body":"if something happens that we're,"},{"speaker":"John Foong","startTime":1012.205,"endTime":1014.515,"body":"we have to spend a lot of money,"},{"speaker":"John Foong","startTime":1012.205,"endTime":1014.515,"body":"we've got this much buffer."},{"speaker":"John Foong","startTime":1014.965,"endTime":1015.235,"body":"Okay."},{"speaker":"John Foong","startTime":1015.235,"endTime":1018.385,"body":"And if I lose my job or we wanna"},{"speaker":"John Foong","startTime":1015.235,"endTime":1018.385,"body":"move or something like that, then"},{"speaker":"John Foong","startTime":1018.385,"endTime":1021.745,"body":"here's how many months we have before"},{"speaker":"John Foong","startTime":1018.385,"endTime":1021.745,"body":"we need to correct the situation."},{"speaker":"John Foong","startTime":1021.965,"endTime":1024.425,"body":"We looked at that and go, okay,"},{"speaker":"John Foong","startTime":1021.965,"endTime":1024.425,"body":"that feels actually pretty good."},{"speaker":"John Foong","startTime":1024.735,"endTime":1027.705,"body":"Let's continue to invest and"},{"speaker":"John Foong","startTime":1024.735,"endTime":1027.705,"body":"be leveraged and be aggressive."},{"speaker":"John Foong","startTime":1027.705,"endTime":1032.625,"body":"Our investing now, three kids, two"},{"speaker":"John Foong","startTime":1027.705,"endTime":1032.625,"body":"kids later, the three kids we're now in"},{"speaker":"John Foong","startTime":1032.625,"endTime":1034.555,"body":"Australia we have a lot more expenses."},{"speaker":"John Foong","startTime":1034.56,"endTime":1037.415,"body":"My wife has not yet returned"},{"speaker":"John Foong","startTime":1034.56,"endTime":1037.415,"body":"to work, after our third child."},{"speaker":"John Foong","startTime":1037.415,"endTime":1039.215,"body":"It's a very different cash flow situation."},{"speaker":"John Foong","startTime":1039.815,"endTime":1042.675,"body":"We're actually now we're spending a"},{"speaker":"John Foong","startTime":1039.815,"endTime":1042.675,"body":"lot more and we're earning less, and"},{"speaker":"John Foong","startTime":1042.675,"endTime":1043.935,"body":"our expense profile is different."},{"speaker":"John Foong","startTime":1044.295,"endTime":1046.245,"body":"And so we just go through"},{"speaker":"John Foong","startTime":1044.295,"endTime":1046.245,"body":"the same analysis, right?"},{"speaker":"John Foong","startTime":1046.245,"endTime":1047.415,"body":"And we kind of figure,"},{"speaker":"John Foong","startTime":1046.245,"endTime":1047.415,"body":"okay, what's happening?"},{"speaker":"John Foong","startTime":1047.445,"endTime":1050.715,"body":"And now we've gone from probably"},{"speaker":"John Foong","startTime":1047.445,"endTime":1050.715,"body":"a net accrual rate to a net"},{"speaker":"John Foong","startTime":1050.715,"endTime":1052.185,"body":"burn rate, which is fine."},{"speaker":"John Foong","startTime":1052.345,"endTime":1053.725,"body":"Different seasons, different things."},{"speaker":"John Foong","startTime":1053.945,"endTime":1057.0,"body":"We wanna make sure we spend as much as"},{"speaker":"John Foong","startTime":1053.945,"endTime":1057.0,"body":"we need to on childcare, particularly"},{"speaker":"John Foong","startTime":1057.0,"endTime":1058.72,"body":"supporting my wife that kind of stuff."},{"speaker":"John Foong","startTime":1059.09,"endTime":1062.39,"body":"That's a different posture, which is okay,"},{"speaker":"John Foong","startTime":1059.09,"endTime":1062.39,"body":"we've got this much of liquid assets."},{"speaker":"John Foong","startTime":1062.75,"endTime":1064.01,"body":"We're happy to spend this much."},{"speaker":"John Foong","startTime":1064.28,"endTime":1066.08,"body":"Our net deficit is this much every month."},{"speaker":"John Foong","startTime":1066.545,"endTime":1069.175,"body":"At this stage, and maybe that'll"},{"speaker":"John Foong","startTime":1066.545,"endTime":1069.175,"body":"change, how many months before we"},{"speaker":"John Foong","startTime":1069.175,"endTime":1071.845,"body":"need to have an event where we're"},{"speaker":"John Foong","startTime":1069.175,"endTime":1071.845,"body":"running outta liquid assets, so we're"},{"speaker":"John Foong","startTime":1071.845,"endTime":1073.225,"body":"getting below a certain percentage."},{"speaker":"John Foong","startTime":1073.555,"endTime":1076.375,"body":"That's where you start to think, okay, do"},{"speaker":"John Foong","startTime":1073.555,"endTime":1076.375,"body":"we need to change our spending profile?"},{"speaker":"John Foong","startTime":1076.375,"endTime":1079.615,"body":"Do we need to actually convert some of"},{"speaker":"John Foong","startTime":1076.375,"endTime":1079.615,"body":"those illiquid assets to liquid assets?"},{"speaker":"John Foong","startTime":1079.975,"endTime":1081.895,"body":"So these are the conversations"},{"speaker":"John Foong","startTime":1079.975,"endTime":1081.895,"body":"we're having with three young"},{"speaker":"John Foong","startTime":1081.895,"endTime":1083.365,"body":"kids under five and one income."},{"speaker":"Average Joe Finances","startTime":1084.325,"endTime":1086.465,"body":"No that's"},{"speaker":"Average Joe Finances","startTime":1084.325,"endTime":1086.465,"body":"great to know because there,"},{"speaker":"Average Joe Finances","startTime":1086.465,"endTime":1088.775,"body":"there are a lot of different"},{"speaker":"Average Joe Finances","startTime":1086.465,"endTime":1088.775,"body":"scenarios that can happen, right?"},{"speaker":"Average Joe Finances","startTime":1088.775,"endTime":1092.745,"body":"You guys relocated, from Silicon"},{"speaker":"Average Joe Finances","startTime":1088.775,"endTime":1092.745,"body":"Valley back to Australia."},{"speaker":"John Foong","startTime":1092.835,"endTime":1093.225,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":1093.225,"endTime":1094.425,"body":"Had two more kids."},{"speaker":"Average Joe Finances","startTime":1094.635,"endTime":1096.525,"body":"So it just changes the entire dynamic."},{"speaker":"Average Joe Finances","startTime":1096.525,"endTime":1097.575,"body":"Job shifted."},{"speaker":"Average Joe Finances","startTime":1097.845,"endTime":1102.105,"body":"Income change, there's so many"},{"speaker":"Average Joe Finances","startTime":1097.845,"endTime":1102.105,"body":"different factors that come into play,"},{"speaker":"Average Joe Finances","startTime":1102.495,"endTime":1103.395,"body":"but the thing is, what do you do?"},{"speaker":"Average Joe Finances","startTime":1103.4,"endTime":1106.515,"body":"You go back to that balance sheet,"},{"speaker":"Average Joe Finances","startTime":1103.4,"endTime":1106.515,"body":"you reassess and you reevaluate."},{"speaker":"Average Joe Finances","startTime":1106.875,"endTime":1108.525,"body":"And from there you."},{"speaker":"Average Joe Finances","startTime":1108.6,"endTime":1112.44,"body":"Build onto that plan to what,"},{"speaker":"Average Joe Finances","startTime":1108.6,"endTime":1112.44,"body":"okay, what's gonna work for the"},{"speaker":"Average Joe Finances","startTime":1112.44,"endTime":1114.36,"body":"family going forward from here?"},{"speaker":"Average Joe Finances","startTime":1114.44,"endTime":1118.64,"body":"Before we had this excess, here's what's"},{"speaker":"Average Joe Finances","startTime":1114.44,"endTime":1118.64,"body":"left over that we have left sure to,"},{"speaker":"Average Joe Finances","startTime":1118.64,"endTime":1122.78,"body":"to invest in whatever we want to now,"},{"speaker":"Average Joe Finances","startTime":1118.64,"endTime":1122.78,"body":"okay, this is how much we could burn"},{"speaker":"Average Joe Finances","startTime":1122.785,"endTime":1127.61,"body":"comfortably and keep this engine running"},{"speaker":"Average Joe Finances","startTime":1122.785,"endTime":1127.61,"body":"while we're, in transition or figuring"},{"speaker":"Average Joe Finances","startTime":1127.61,"endTime":1128.9,"body":"out what the next move's gonna be."},{"speaker":"John Foong","startTime":1128.905,"endTime":1129.2,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":1129.2,"endTime":1131.72,"body":"So I think that's,"},{"speaker":"Average Joe Finances","startTime":1129.2,"endTime":1131.72,"body":"having some type of buffer is huge."},{"speaker":"Average Joe Finances","startTime":1131.72,"endTime":1135.53,"body":"'cause I know I recently experienced this"},{"speaker":"Average Joe Finances","startTime":1131.72,"endTime":1135.53,"body":"myself when I transitioned outta the Navy."},{"speaker":"Average Joe Finances","startTime":1136.235,"endTime":1139.515,"body":"And, into the civilian world and"},{"speaker":"Average Joe Finances","startTime":1136.235,"endTime":1139.515,"body":"being an entrepreneur and stuff."},{"speaker":"Average Joe Finances","startTime":1139.515,"endTime":1144.315,"body":"And I had this buffer, and I'm going on"},{"speaker":"Average Joe Finances","startTime":1139.515,"endTime":1144.315,"body":"a year now of being home and I'm actually"},{"speaker":"Average Joe Finances","startTime":1144.315,"endTime":1148.785,"body":"getting ready to go back into a W-2"},{"speaker":"Average Joe Finances","startTime":1144.315,"endTime":1148.785,"body":"job because I got a really great offer."},{"speaker":"Average Joe Finances","startTime":1149.085,"endTime":1151.0,"body":"Something that I don't wanna say no to."},{"speaker":"Average Joe Finances","startTime":1151.45,"endTime":1153.22,"body":"And it's gonna be phenomenal."},{"speaker":"Average Joe Finances","startTime":1153.25,"endTime":1156.76,"body":"But this year home that I had, I"},{"speaker":"Average Joe Finances","startTime":1153.25,"endTime":1156.76,"body":"got to reflect on a lot of things."},{"speaker":"Average Joe Finances","startTime":1156.76,"endTime":1160.21,"body":"One thing that I noticed is that my wife"},{"speaker":"Average Joe Finances","startTime":1156.76,"endTime":1160.21,"body":"and kids are not used to me being home."},{"speaker":"Average Joe Finances","startTime":1161.37,"endTime":1161.83,"body":"Or not."},{"speaker":"Average Joe Finances","startTime":1162.47,"endTime":1163.01,"body":"Two."},{"speaker":"John Foong","startTime":1163.015,"endTime":1163.48,"body":"Quite a change."},{"speaker":"John Foong","startTime":1163.48,"endTime":1163.841,"body":"Quite a change."},{"speaker":"Average Joe Finances","startTime":1163.846,"endTime":1166.5,"body":"That being said,"},{"speaker":"Average Joe Finances","startTime":1163.846,"endTime":1166.5,"body":"having a teenage daughter that really"},{"speaker":"Average Joe Finances","startTime":1166.5,"endTime":1168.51,"body":"changes things, changes the dyna dynamic."},{"speaker":"Average Joe Finances","startTime":1168.515,"endTime":1170.05,"body":"And, she's always are you always here?"},{"speaker":"Average Joe Finances","startTime":1170.15,"endTime":1174.14,"body":"And a lot of times one of the things that"},{"speaker":"Average Joe Finances","startTime":1170.15,"endTime":1174.14,"body":"I've learned over this past year is, I"},{"speaker":"Average Joe Finances","startTime":1174.14,"endTime":1175.61,"body":"gotta give a little bit more space now."},{"speaker":"Average Joe Finances","startTime":1175.61,"endTime":1178.13,"body":"Because it was always the, I"},{"speaker":"Average Joe Finances","startTime":1175.61,"endTime":1178.13,"body":"was always at work, always gone."},{"speaker":"Average Joe Finances","startTime":1178.13,"endTime":1181.16,"body":"And so time was so precious"},{"speaker":"Average Joe Finances","startTime":1178.13,"endTime":1181.16,"body":"and gotta cherish it."},{"speaker":"Average Joe Finances","startTime":1181.4,"endTime":1184.15,"body":"And now that I was home all the"},{"speaker":"Average Joe Finances","startTime":1181.4,"endTime":1184.15,"body":"time, it's kinda okay, you got"},{"speaker":"Average Joe Finances","startTime":1184.15,"endTime":1186.41,"body":"the time just ease up on it a bit."},{"speaker":"Average Joe Finances","startTime":1186.46,"endTime":1189.67,"body":"So it's just, there's always seasons."},{"speaker":"Average Joe Finances","startTime":1189.67,"endTime":1191.085,"body":"Like I like to use the word seasons."},{"speaker":"Average Joe Finances","startTime":1191.085,"endTime":1193.575,"body":"There's always these"},{"speaker":"Average Joe Finances","startTime":1191.085,"endTime":1193.575,"body":"seasons in life, right?"},{"speaker":"Average Joe Finances","startTime":1193.58,"endTime":1196.215,"body":"And as the seasons change, we"},{"speaker":"Average Joe Finances","startTime":1193.58,"endTime":1196.215,"body":"have to change and adapt with it."},{"speaker":"Average Joe Finances","startTime":1196.215,"endTime":1196.245,"body":"I."},{"speaker":"Average Joe Finances","startTime":1197.19,"endTime":1199.84,"body":"Where I grew up in New York we"},{"speaker":"Average Joe Finances","startTime":1197.19,"endTime":1199.84,"body":"experienced all four seasons, right?"},{"speaker":"Average Joe Finances","startTime":1199.84,"endTime":1203.5,"body":"In the summer, we would"},{"speaker":"Average Joe Finances","startTime":1199.84,"endTime":1203.5,"body":"wear t-shirts and shorts."},{"speaker":"Average Joe Finances","startTime":1203.55,"endTime":1205.98,"body":"In the fall, it started to"},{"speaker":"Average Joe Finances","startTime":1203.55,"endTime":1205.98,"body":"get a little more chilly."},{"speaker":"Average Joe Finances","startTime":1205.98,"endTime":1209.64,"body":"You'd have a hoodie or a light jacket"},{"speaker":"Average Joe Finances","startTime":1205.98,"endTime":1209.64,"body":"on and maybe some jeans in the winter."},{"speaker":"Average Joe Finances","startTime":1209.64,"endTime":1214.015,"body":"You had that, that large winter coat"},{"speaker":"Average Joe Finances","startTime":1209.64,"endTime":1214.015,"body":"on right in the spring, back to maybe"},{"speaker":"Average Joe Finances","startTime":1214.015,"endTime":1217.775,"body":"t-shirts, maybe a nice light long"},{"speaker":"Average Joe Finances","startTime":1214.015,"endTime":1217.775,"body":"sleeve shirt maybe some pants, whatever."},{"speaker":"Average Joe Finances","startTime":1217.865,"endTime":1224.23,"body":"But the point of that is, With the"},{"speaker":"Average Joe Finances","startTime":1217.865,"endTime":1224.23,"body":"seasons that change, you also have"},{"speaker":"Average Joe Finances","startTime":1224.23,"endTime":1226.33,"body":"to change and adapt to them, right?"},{"speaker":"Average Joe Finances","startTime":1226.33,"endTime":1229.81,"body":"So with the weather, you would change"},{"speaker":"Average Joe Finances","startTime":1226.33,"endTime":1229.81,"body":"what you would wear, things like that."},{"speaker":"Average Joe Finances","startTime":1229.81,"endTime":1231.46,"body":"So same thing with your finances, right?"},{"speaker":"Average Joe Finances","startTime":1231.67,"endTime":1237.13,"body":"As the seasons of your life change you,"},{"speaker":"Average Joe Finances","startTime":1231.67,"endTime":1237.13,"body":"how you plan your finances, how you spend"},{"speaker":"Average Joe Finances","startTime":1237.13,"endTime":1240.82,"body":"your money, how you have your relationship"},{"speaker":"Average Joe Finances","startTime":1237.13,"endTime":1240.82,"body":"with money should also change."},{"speaker":"Average Joe Finances","startTime":1241.295,"endTime":1242.315,"body":"With those seasons."},{"speaker":"Average Joe Finances","startTime":1242.315,"endTime":1245.585,"body":"So I think that's a"},{"speaker":"Average Joe Finances","startTime":1242.315,"endTime":1245.585,"body":"fantastic point, John, now."},{"speaker":"John Foong","startTime":1245.935,"endTime":1247.405,"body":"Actually, Mike, can"},{"speaker":"John Foong","startTime":1245.935,"endTime":1247.405,"body":"I just make one comment on that?"},{"speaker":"Average Joe Finances","startTime":1247.405,"endTime":1247.675,"body":"Sure."},{"speaker":"Average Joe Finances","startTime":1247.675,"endTime":1247.885,"body":"Yeah."},{"speaker":"John Foong","startTime":1248.185,"endTime":1248.305,"body":"Yeah."},{"speaker":"John Foong","startTime":1248.305,"endTime":1248.934,"body":"I totally agree with that."},{"speaker":"John Foong","startTime":1248.934,"endTime":1251.794,"body":"Obviously I think, there is a"},{"speaker":"John Foong","startTime":1248.934,"endTime":1251.794,"body":"book, that it's a management book,"},{"speaker":"John Foong","startTime":1251.794,"endTime":1252.904,"body":"but the title sticks with me."},{"speaker":"John Foong","startTime":1252.904,"endTime":1256.604,"body":"What Got you here won't get you"},{"speaker":"John Foong","startTime":1252.904,"endTime":1256.604,"body":"there, and it's a wonderful book and"},{"speaker":"John Foong","startTime":1256.604,"endTime":1259.784,"body":"I think it really describes life,"},{"speaker":"John Foong","startTime":1256.604,"endTime":1259.784,"body":"really, that, whether what got you"},{"speaker":"John Foong","startTime":1259.784,"endTime":1263.269,"body":"to be a father won't get you to"},{"speaker":"John Foong","startTime":1259.784,"endTime":1263.269,"body":"be a great father of young kids."},{"speaker":"John Foong","startTime":1263.634,"endTime":1266.424,"body":"And what you do as a father of young"},{"speaker":"John Foong","startTime":1263.634,"endTime":1266.424,"body":"kids changes when you, when your kids are"},{"speaker":"John Foong","startTime":1266.424,"endTime":1269.764,"body":"teenagers, and that's true of parenting,"},{"speaker":"John Foong","startTime":1266.424,"endTime":1269.764,"body":"it's true of marriage, it's true of"},{"speaker":"John Foong","startTime":1269.764,"endTime":1271.234,"body":"finances, it's true of your career."},{"speaker":"John Foong","startTime":1271.654,"endTime":1274.929,"body":"So for me, just having that growth"},{"speaker":"John Foong","startTime":1271.654,"endTime":1274.929,"body":"mindset, that posture of okay,"},{"speaker":"John Foong","startTime":1274.929,"endTime":1276.609,"body":"wow, it's been great up to now."},{"speaker":"John Foong","startTime":1276.609,"endTime":1277.419,"body":"What do I need to do?"},{"speaker":"John Foong","startTime":1277.419,"endTime":1280.319,"body":"How do I need to be different"},{"speaker":"John Foong","startTime":1277.419,"endTime":1280.319,"body":"in this season is very helpful."},{"speaker":"John Foong","startTime":1280.629,"endTime":1283.559,"body":"And I think the underlying thing"},{"speaker":"John Foong","startTime":1280.629,"endTime":1283.559,"body":"of all that, if I think through,"},{"speaker":"John Foong","startTime":1283.559,"endTime":1285.389,"body":"Has the extent been successful?"},{"speaker":"John Foong","startTime":1285.389,"endTime":1289.349,"body":"Our finance journey, it really actually"},{"speaker":"John Foong","startTime":1285.389,"endTime":1289.349,"body":"comes down to, are you on the same"},{"speaker":"John Foong","startTime":1289.349,"endTime":1291.989,"body":"page with your wife on finances, right?"},{"speaker":"Average Joe Finances","startTime":1292.349,"endTime":1292.799,"body":"Yeah, absolutely."},{"speaker":"John Foong","startTime":1292.829,"endTime":1294.849,"body":"Cause there's a"},{"speaker":"John Foong","startTime":1292.829,"endTime":1294.849,"body":"book called the Speed of Trust."},{"speaker":"John Foong","startTime":1295.329,"endTime":1298.809,"body":"And the notion is that things"},{"speaker":"John Foong","startTime":1295.329,"endTime":1298.809,"body":"move quickly when there is trust"},{"speaker":"John Foong","startTime":1298.814,"endTime":1302.469,"body":"when you're on the same page,"},{"speaker":"John Foong","startTime":1298.814,"endTime":1302.469,"body":"and did mistrust is like attacks."},{"speaker":"John Foong","startTime":1302.559,"endTime":1304.989,"body":"Everything moves more slowly if"},{"speaker":"John Foong","startTime":1302.559,"endTime":1304.989,"body":"you don't trust the other party"},{"speaker":"John Foong","startTime":1305.169,"endTime":1305.889,"body":"that you're collaborating with."},{"speaker":"John Foong","startTime":1306.429,"endTime":1308.779,"body":"I think one of the things I'm"},{"speaker":"John Foong","startTime":1306.429,"endTime":1308.779,"body":"very grateful for is, my wife"},{"speaker":"John Foong","startTime":1308.779,"endTime":1309.889,"body":"has actually very similar."},{"speaker":"John Foong","startTime":1310.224,"endTime":1311.244,"body":"Investing history."},{"speaker":"John Foong","startTime":1311.394,"endTime":1313.884,"body":"Her parents, invest in property"},{"speaker":"John Foong","startTime":1311.394,"endTime":1313.884,"body":"when she was young and did"},{"speaker":"John Foong","startTime":1313.884,"endTime":1315.514,"body":"the same thing as my parents."},{"speaker":"John Foong","startTime":1315.514,"endTime":1318.934,"body":"And taught us very similar values about"},{"speaker":"John Foong","startTime":1315.514,"endTime":1318.934,"body":"long-term investing, about prudence."},{"speaker":"John Foong","startTime":1319.454,"endTime":1322.424,"body":"That's helpful to have similar"},{"speaker":"John Foong","startTime":1319.454,"endTime":1322.424,"body":"values, but actually so much of it,"},{"speaker":"John Foong","startTime":1322.454,"endTime":1325.094,"body":"'cause everything's changing, we're"},{"speaker":"John Foong","startTime":1322.454,"endTime":1325.094,"body":"changing, are we on the same page?"},{"speaker":"John Foong","startTime":1325.154,"endTime":1326.174,"body":"How do we resolve conflict?"},{"speaker":"John Foong","startTime":1326.174,"endTime":1327.224,"body":"How do we look at opportunities?"},{"speaker":"John Foong","startTime":1327.594,"endTime":1328.374,"body":"Is there trust?"},{"speaker":"John Foong","startTime":1328.374,"endTime":1329.184,"body":"Is there clear roles?"},{"speaker":"John Foong","startTime":1329.214,"endTime":1332.994,"body":"And I'm very grateful that my wife have"},{"speaker":"John Foong","startTime":1329.214,"endTime":1332.994,"body":"had that we are gonna have to keep at it,"},{"speaker":"John Foong","startTime":1333.414,"endTime":1336.874,"body":"not just with finances, but with parenting"},{"speaker":"John Foong","startTime":1333.414,"endTime":1336.874,"body":"and with, other things do with marriage."},{"speaker":"John Foong","startTime":1337.124,"endTime":1338.204,"body":"But we're very grateful."},{"speaker":"John Foong","startTime":1338.234,"endTime":1341.114,"body":"And I think that's probably been"},{"speaker":"John Foong","startTime":1338.234,"endTime":1341.114,"body":"the reason why these balance"},{"speaker":"John Foong","startTime":1341.114,"endTime":1342.554,"body":"sheets and things have even worked."},{"speaker":"John Foong","startTime":1342.794,"endTime":1343.814,"body":"Just 'cause there's that trust there."},{"speaker":"Average Joe Finances","startTime":1344.834,"endTime":1345.194,"body":"Trust."},{"speaker":"Average Joe Finances","startTime":1345.194,"endTime":1345.854,"body":"Trust is huge."},{"speaker":"Average Joe Finances","startTime":1345.854,"endTime":1346.634,"body":"Absolutely love that."},{"speaker":"Average Joe Finances","startTime":1346.639,"endTime":1349.129,"body":"And you gotta be on the same"},{"speaker":"Average Joe Finances","startTime":1346.639,"endTime":1349.129,"body":"page with your partner, right?"},{"speaker":"Average Joe Finances","startTime":1349.459,"endTime":1353.539,"body":"Because if you guys are doing two"},{"speaker":"Average Joe Finances","startTime":1349.459,"endTime":1353.539,"body":"different things, when it comes time"},{"speaker":"Average Joe Finances","startTime":1353.539,"endTime":1355.159,"body":"to say, okay, let's see where we're at."},{"speaker":"Average Joe Finances","startTime":1355.399,"endTime":1357.679,"body":"There's gonna be two different"},{"speaker":"Average Joe Finances","startTime":1355.399,"endTime":1357.679,"body":"answers, two different stories,"},{"speaker":"Average Joe Finances","startTime":1357.679,"endTime":1358.909,"body":"and it's not gonna match up."},{"speaker":"Average Joe Finances","startTime":1359.269,"endTime":1360.389,"body":"And that's just."},{"speaker":"Average Joe Finances","startTime":1360.779,"endTime":1363.749,"body":"Leading into something"},{"speaker":"Average Joe Finances","startTime":1360.779,"endTime":1363.749,"body":"far worse than, okay."},{"speaker":"Average Joe Finances","startTime":1363.749,"endTime":1363.989,"body":"Totally."},{"speaker":"Average Joe Finances","startTime":1364.739,"endTime":1367.709,"body":"Our balances might be messed up,"},{"speaker":"Average Joe Finances","startTime":1364.739,"endTime":1367.709,"body":"so no definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":1367.709,"endTime":1372.089,"body":"Now John, what I wanted to ask you"},{"speaker":"Average Joe Finances","startTime":1367.709,"endTime":1372.089,"body":"was about your real estate, right?"},{"speaker":"Average Joe Finances","startTime":1372.094,"endTime":1378.059,"body":"So yeah, I know you've owned properties"},{"speaker":"Average Joe Finances","startTime":1372.094,"endTime":1378.059,"body":"both in the States and in Australia, so"},{"speaker":"Average Joe Finances","startTime":1378.119,"endTime":1384.929,"body":"I was curious to some of the differences"},{"speaker":"Average Joe Finances","startTime":1378.119,"endTime":1384.929,"body":"you've experienced with owning property"},{"speaker":"Average Joe Finances","startTime":1385.139,"endTime":1388.379,"body":"in Australia and owning property in"},{"speaker":"Average Joe Finances","startTime":1385.139,"endTime":1388.379,"body":"the States and what the differences"},{"speaker":"Average Joe Finances","startTime":1388.379,"endTime":1391.829,"body":"are between how you purchase property"},{"speaker":"Average Joe Finances","startTime":1388.379,"endTime":1391.829,"body":"in the United States, like with a"},{"speaker":"Average Joe Finances","startTime":1391.834,"endTime":1395.759,"body":"mortgage and everything, versus how"},{"speaker":"Average Joe Finances","startTime":1391.834,"endTime":1395.759,"body":"you purchase property in Australia."},{"speaker":"Average Joe Finances","startTime":1396.119,"endTime":1400.079,"body":"Because I do something myself"},{"speaker":"Average Joe Finances","startTime":1396.119,"endTime":1400.079,"body":"called Velocity Banking, and it's"},{"speaker":"Average Joe Finances","startTime":1400.079,"endTime":1404.369,"body":"very commonly referred to as the"},{"speaker":"Average Joe Finances","startTime":1400.079,"endTime":1404.369,"body":"Australian mortgage on a home."},{"speaker":"Average Joe Finances","startTime":1404.419,"endTime":1407.389,"body":"So if you could describe that a little"},{"speaker":"Average Joe Finances","startTime":1404.419,"endTime":1407.389,"body":"bit, like what the differences between"},{"speaker":"Average Joe Finances","startTime":1408.619,"endTime":1411.349,"body":"buying a property in the states"},{"speaker":"Average Joe Finances","startTime":1408.619,"endTime":1411.349,"body":"versus buying a property in Australia."},{"speaker":"John Foong","startTime":1412.579,"endTime":1412.699,"body":"Yeah."},{"speaker":"John Foong","startTime":1412.699,"endTime":1413.239,"body":"So it's been."},{"speaker":"Average Joe Finances","startTime":1413.239,"endTime":1414.709,"body":"At"},{"speaker":"Average Joe Finances","startTime":1413.239,"endTime":1414.709,"body":"least from the financing side."},{"speaker":"John Foong","startTime":1415.249,"endTime":1415.999,"body":"Yeah, the financing side."},{"speaker":"John Foong","startTime":1415.999,"endTime":1418.489,"body":"I think there's a few differences and I"},{"speaker":"John Foong","startTime":1415.999,"endTime":1418.489,"body":"have had the privilege of investing in"},{"speaker":"John Foong","startTime":1418.489,"endTime":1422.349,"body":"both, and I'm still, investing in both"},{"speaker":"John Foong","startTime":1418.489,"endTime":1422.349,"body":"things that I'm grateful for in America."},{"speaker":"John Foong","startTime":1422.409,"endTime":1423.249,"body":"Maybe I'll start with that."},{"speaker":"John Foong","startTime":1423.249,"endTime":1423.789,"body":"That's different."},{"speaker":"John Foong","startTime":1424.029,"endTime":1425.379,"body":"I'm grateful for 30 year mortgages."},{"speaker":"John Foong","startTime":1426.189,"endTime":1427.479,"body":"We don't have that in Australia."},{"speaker":"John Foong","startTime":1427.659,"endTime":1428.979,"body":"30 mortgages are amazing."},{"speaker":"John Foong","startTime":1429.289,"endTime":1433.204,"body":"They're a gift I think they allow you to"},{"speaker":"John Foong","startTime":1429.289,"endTime":1433.204,"body":"lock in, they allow the de-risk of the"},{"speaker":"John Foong","startTime":1433.209,"endTime":1438.534,"body":"course long period of time in Australia,"},{"speaker":"John Foong","startTime":1433.209,"endTime":1438.534,"body":"most I'd say probably half of loans taken"},{"speaker":"John Foong","startTime":1438.539,"endTime":1440.514,"body":"out have a fixed component and half don't."},{"speaker":"John Foong","startTime":1440.974,"endTime":1444.184,"body":"But the fixed component is only up to"},{"speaker":"John Foong","startTime":1440.974,"endTime":1444.184,"body":"five years, and most people do two years."},{"speaker":"John Foong","startTime":1444.839,"endTime":1448.279,"body":"You are on variable pretty quickly,"},{"speaker":"John Foong","startTime":1444.839,"endTime":1448.279,"body":"and that really means that from a"},{"speaker":"John Foong","startTime":1448.279,"endTime":1451.329,"body":"bank valuation point of view, they"},{"speaker":"John Foong","startTime":1448.279,"endTime":1451.329,"body":"actually end up being to loan you less"},{"speaker":"John Foong","startTime":1451.329,"endTime":1454.029,"body":"money because they have to consider"},{"speaker":"John Foong","startTime":1451.329,"endTime":1454.029,"body":"the worst case scenario of okay, what"},{"speaker":"John Foong","startTime":1454.029,"endTime":1456.409,"body":"if interest rates go up and then,"},{"speaker":"John Foong","startTime":1454.029,"endTime":1456.409,"body":"that affects your ability to pay."},{"speaker":"John Foong","startTime":1456.709,"endTime":1459.459,"body":"So I think the American system"},{"speaker":"John Foong","startTime":1456.709,"endTime":1459.459,"body":"that has that allows mortgages to"},{"speaker":"John Foong","startTime":1459.464,"endTime":1462.129,"body":"be traded, which ultimately allows"},{"speaker":"John Foong","startTime":1459.464,"endTime":1462.129,"body":"30 year loans, is a great gift."},{"speaker":"John Foong","startTime":1462.524,"endTime":1462.914,"body":"Number one."},{"speaker":"John Foong","startTime":1463.724,"endTime":1464.744,"body":"Number two, taxation."},{"speaker":"John Foong","startTime":1464.924,"endTime":1468.344,"body":"Taxation is treated very differently"},{"speaker":"John Foong","startTime":1464.924,"endTime":1468.344,"body":"in the States, and I was in, most of"},{"speaker":"John Foong","startTime":1468.344,"endTime":1471.079,"body":"my investments are in California, which"},{"speaker":"John Foong","startTime":1468.344,"endTime":1471.079,"body":"is, from a taxation point of view,"},{"speaker":"John Foong","startTime":1471.319,"endTime":1472.979,"body":"a very challenging place to invest."},{"speaker":"John Foong","startTime":1474.629,"endTime":1476.639,"body":"So Tax Australia is also fairly high."},{"speaker":"John Foong","startTime":1477.174,"endTime":1478.794,"body":"There's a lot of great"},{"speaker":"John Foong","startTime":1477.174,"endTime":1478.794,"body":"social services here."},{"speaker":"John Foong","startTime":1479.134,"endTime":1482.254,"body":"There is not a federal and a state"},{"speaker":"John Foong","startTime":1479.134,"endTime":1482.254,"body":"tax, just a federal tax, but it's"},{"speaker":"John Foong","startTime":1482.344,"endTime":1485.624,"body":"similar to what the Federal Plus"},{"speaker":"John Foong","startTime":1482.344,"endTime":1485.624,"body":"state tax will be in most places."},{"speaker":"John Foong","startTime":1485.624,"endTime":1488.644,"body":"It's actually probably more than the most"},{"speaker":"John Foong","startTime":1485.624,"endTime":1488.644,"body":"places except California and New York."},{"speaker":"John Foong","startTime":1489.334,"endTime":1493.774,"body":"Australia has a lot of very helpful"},{"speaker":"John Foong","startTime":1489.334,"endTime":1493.774,"body":"taxation regimes for property investing,"},{"speaker":"John Foong","startTime":1494.404,"endTime":1496.684,"body":"so we have something called Negative"},{"speaker":"John Foong","startTime":1494.404,"endTime":1496.684,"body":"Gearing, which means that you can write"},{"speaker":"John Foong","startTime":1496.684,"endTime":1500.884,"body":"off any expense related to property,"},{"speaker":"John Foong","startTime":1496.684,"endTime":1500.884,"body":"against any income, including your W-2."},{"speaker":"John Foong","startTime":1501.814,"endTime":1503.794,"body":"So in America it's categorized, right?"},{"speaker":"John Foong","startTime":1503.794,"endTime":1506.164,"body":"So if you have property"},{"speaker":"John Foong","startTime":1503.794,"endTime":1506.164,"body":"expenses, depreciation, it can"},{"speaker":"John Foong","startTime":1506.164,"endTime":1507.394,"body":"be offset against property gains."},{"speaker":"John Foong","startTime":1507.994,"endTime":1510.484,"body":"That makes property investing"},{"speaker":"John Foong","startTime":1507.994,"endTime":1510.484,"body":"very aggressive and very"},{"speaker":"John Foong","startTime":1510.484,"endTime":1511.504,"body":"commonplace in Australia."},{"speaker":"John Foong","startTime":1511.774,"endTime":1513.814,"body":"So that's one thing which I"},{"speaker":"John Foong","startTime":1511.774,"endTime":1513.814,"body":"think Australia is better,"},{"speaker":"John Foong","startTime":1513.904,"endTime":1514.654,"body":"Australia's more helpful."},{"speaker":"John Foong","startTime":1515.084,"endTime":1517.654,"body":"The other thing is Australia"},{"speaker":"John Foong","startTime":1515.084,"endTime":1517.654,"body":"has very favorable tax treatment"},{"speaker":"John Foong","startTime":1517.659,"endTime":1518.644,"body":"of your primary residence."},{"speaker":"John Foong","startTime":1519.319,"endTime":1524.079,"body":"So in America you do have a sub, you have"},{"speaker":"John Foong","startTime":1519.319,"endTime":1524.079,"body":"up to 500,000 deduction on capital gains."},{"speaker":"John Foong","startTime":1524.419,"endTime":1528.239,"body":"If you are, for your primary residence"},{"speaker":"John Foong","startTime":1524.419,"endTime":1528.239,"body":"in Australia, there's no capital"},{"speaker":"John Foong","startTime":1528.239,"endTime":1529.789,"body":"gains tax for your primary residence."},{"speaker":"John Foong","startTime":1530.279,"endTime":1530.489,"body":"Right?"},{"speaker":"John Foong","startTime":1530.489,"endTime":1532.989,"body":"So as long as you're living in that"},{"speaker":"John Foong","startTime":1530.489,"endTime":1532.989,"body":"house and you've lived in the past"},{"speaker":"John Foong","startTime":1533.079,"endTime":1536.369,"body":"six years, so you might live in there"},{"speaker":"John Foong","startTime":1533.079,"endTime":1536.369,"body":"for 20 years, it might, quadruple in"},{"speaker":"John Foong","startTime":1536.369,"endTime":1538.229,"body":"value and you pay no capital gains tax."},{"speaker":"John Foong","startTime":1538.229,"endTime":1542.404,"body":"So again, it's very it means that your"},{"speaker":"John Foong","startTime":1538.229,"endTime":1542.404,"body":"incentive is to buy, not to sell and that"},{"speaker":"John Foong","startTime":1542.409,"endTime":1543.904,"body":"we call that the great Australian dream."},{"speaker":"John Foong","startTime":1544.274,"endTime":1546.849,"body":"And it means that your incentive is"},{"speaker":"John Foong","startTime":1544.274,"endTime":1546.849,"body":"to invest as much and to house hack"},{"speaker":"John Foong","startTime":1547.089,"endTime":1548.259,"body":"your primary business as possible."},{"speaker":"John Foong","startTime":1548.289,"endTime":1551.499,"body":"Again, there's some advantages, the US"},{"speaker":"John Foong","startTime":1548.289,"endTime":1551.499,"body":"for that no one knew as much in Australia."},{"speaker":"John Foong","startTime":1552.369,"endTime":1555.119,"body":"The third thing about Australia and"},{"speaker":"John Foong","startTime":1552.369,"endTime":1555.119,"body":"America that's different is buyer's"},{"speaker":"John Foong","startTime":1555.124,"endTime":1557.159,"body":"agents are not very common in Australia."},{"speaker":"John Foong","startTime":1557.369,"endTime":1559.139,"body":"It's less than 10% of all transactions."},{"speaker":"John Foong","startTime":1559.379,"endTime":1561.449,"body":"And that's because it's not"},{"speaker":"John Foong","startTime":1559.379,"endTime":1561.449,"body":"built into the commission system."},{"speaker":"John Foong","startTime":1561.789,"endTime":1564.789,"body":"So you, the seller's commission is"},{"speaker":"John Foong","startTime":1561.789,"endTime":1564.789,"body":"built in and the seller pays that."},{"speaker":"John Foong","startTime":1565.089,"endTime":1567.099,"body":"It's about two 3%"},{"speaker":"John Foong","startTime":1565.089,"endTime":1567.099,"body":"depending on where it is."},{"speaker":"John Foong","startTime":1567.579,"endTime":1569.859,"body":"There's no buyer's agent"},{"speaker":"John Foong","startTime":1567.579,"endTime":1569.859,"body":"commission that's built in."},{"speaker":"John Foong","startTime":1570.139,"endTime":1571.604,"body":"And I'm a huge fan of buyer agents."},{"speaker":"John Foong","startTime":1571.794,"endTime":1573.259,"body":"Buyer's agents were a huge gift to us."},{"speaker":"John Foong","startTime":1573.619,"endTime":1576.289,"body":"Both were investing and we were"},{"speaker":"John Foong","startTime":1573.619,"endTime":1576.289,"body":"buying our primary residence."},{"speaker":"John Foong","startTime":1576.689,"endTime":1579.179,"body":"And I really like the fact that it's"},{"speaker":"John Foong","startTime":1576.689,"endTime":1579.179,"body":"built into the commission structure"},{"speaker":"John Foong","startTime":1579.179,"endTime":1581.949,"body":"in the us It's just the norm, and a"},{"speaker":"John Foong","startTime":1579.179,"endTime":1581.949,"body":"small percentage of people don't do it."},{"speaker":"John Foong","startTime":1582.169,"endTime":1583.159,"body":"But pretty much everyone does."},{"speaker":"John Foong","startTime":1583.584,"endTime":1586.654,"body":"I think that basically results in"},{"speaker":"John Foong","startTime":1583.584,"endTime":1586.654,"body":"a much more educated buying and"},{"speaker":"John Foong","startTime":1586.654,"endTime":1588.034,"body":"selling community or buying community."},{"speaker":"John Foong","startTime":1588.424,"endTime":1591.274,"body":"There are still problems, there are still"},{"speaker":"John Foong","startTime":1588.424,"endTime":1591.274,"body":"buyer's agents that don't do their job and"},{"speaker":"John Foong","startTime":1591.279,"endTime":1592.654,"body":"there are people that trust them too much."},{"speaker":"John Foong","startTime":1592.844,"endTime":1595.334,"body":"And there are situations which I don't"},{"speaker":"John Foong","startTime":1592.844,"endTime":1595.334,"body":"like, where the buyers and sellers"},{"speaker":"John Foong","startTime":1595.339,"endTime":1597.854,"body":"agent are the same, and I think that"},{"speaker":"John Foong","startTime":1595.339,"endTime":1597.854,"body":"results in conflict of interest."},{"speaker":"John Foong","startTime":1598.244,"endTime":1602.004,"body":"But as a result in America, you"},{"speaker":"John Foong","startTime":1598.244,"endTime":1602.004,"body":"generally have a much more informed."},{"speaker":"John Foong","startTime":1602.484,"endTime":1605.124,"body":"Buying community much better about"},{"speaker":"John Foong","startTime":1602.484,"endTime":1605.124,"body":"inspections, much better about"},{"speaker":"John Foong","startTime":1605.124,"endTime":1606.714,"body":"things go wrong in Australia."},{"speaker":"John Foong","startTime":1606.714,"endTime":1610.194,"body":"It's variable buyer beware, which means"},{"speaker":"John Foong","startTime":1606.714,"endTime":1610.194,"body":"you may not know a lot of the problems."},{"speaker":"John Foong","startTime":1610.224,"endTime":1612.984,"body":"And if you do all the research, a lot"},{"speaker":"John Foong","startTime":1610.224,"endTime":1612.984,"body":"of those inspection reports are not made"},{"speaker":"John Foong","startTime":1613.034,"endTime":1614.324,"body":"are not made available as a default."},{"speaker":"John Foong","startTime":1614.654,"endTime":1617.599,"body":"And so I think that's a real positive"},{"speaker":"John Foong","startTime":1614.654,"endTime":1617.599,"body":"for America, in versus Australia."},{"speaker":"Average Joe Finances","startTime":1617.969,"endTime":1618.189,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1619.019,"endTime":1622.524,"body":"That is a lot to digest, John,"},{"speaker":"Average Joe Finances","startTime":1619.019,"endTime":1622.524,"body":"because some significant differences"},{"speaker":"Average Joe Finances","startTime":1622.524,"endTime":1624.164,"body":"and really great takeaways about."},{"speaker":"Average Joe Finances","startTime":1624.759,"endTime":1629.019,"body":"What makes it better in Australia and"},{"speaker":"Average Joe Finances","startTime":1624.759,"endTime":1629.019,"body":"what makes it better in the United States."},{"speaker":"Average Joe Finances","startTime":1629.019,"endTime":1631.809,"body":"There's, so there's, it's a"},{"speaker":"Average Joe Finances","startTime":1629.019,"endTime":1631.809,"body":"mixed bag to where it feels"},{"speaker":"Average Joe Finances","startTime":1631.809,"endTime":1632.739,"body":"like, yeah, it's pretty even."},{"speaker":"Average Joe Finances","startTime":1632.739,"endTime":1635.269,"body":"And neck, and actually I wanna"},{"speaker":"Average Joe Finances","startTime":1632.739,"endTime":1635.269,"body":"share something with you too."},{"speaker":"Average Joe Finances","startTime":1635.269,"endTime":1638.474,"body":"So the buyer's agents out here"},{"speaker":"Average Joe Finances","startTime":1635.269,"endTime":1638.474,"body":"that, actually it's this seller."},{"speaker":"Average Joe Finances","startTime":1638.634,"endTime":1640.524,"body":"Actually pays the commission for both."},{"speaker":"John Foong","startTime":1640.524,"endTime":1640.974,"body":"Yes, that's right."},{"speaker":"Average Joe Finances","startTime":1640.979,"endTime":1641.224,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1641.224,"endTime":1641.384,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1641.384,"endTime":1644.604,"body":"So yeah it's pretty which is, we"},{"speaker":"Average Joe Finances","startTime":1641.384,"endTime":1644.604,"body":"have a higher commission rate out"},{"speaker":"Average Joe Finances","startTime":1644.604,"endTime":1647.274,"body":"here, and then pretty much the"},{"speaker":"Average Joe Finances","startTime":1644.604,"endTime":1647.274,"body":"buyer and seller's agent split it."},{"speaker":"John Foong","startTime":1647.914,"endTime":1648.034,"body":"Yeah."},{"speaker":"John Foong","startTime":1648.039,"endTime":1648.684,"body":"And that's different."},{"speaker":"John Foong","startTime":1648.774,"endTime":1651.794,"body":"That to me is, I wish we had that"},{"speaker":"John Foong","startTime":1648.774,"endTime":1651.794,"body":"in Australia because, obviously"},{"speaker":"John Foong","startTime":1651.794,"endTime":1653.054,"body":"that's a historical legacy."},{"speaker":"John Foong","startTime":1653.264,"endTime":1655.824,"body":"If you tried to introduce, we've"},{"speaker":"John Foong","startTime":1653.264,"endTime":1655.824,"body":"gotta pay six commission three"},{"speaker":"John Foong","startTime":1655.824,"endTime":1656.934,"body":"plus three rather than just three."},{"speaker":"John Foong","startTime":1656.934,"endTime":1658.404,"body":"But it's always been done."},{"speaker":"John Foong","startTime":1658.404,"endTime":1660.654,"body":"That's the way it's accepted"},{"speaker":"John Foong","startTime":1658.404,"endTime":1660.654,"body":"and the results are good."},{"speaker":"John Foong","startTime":1661.074,"endTime":1663.534,"body":"Australia, here the buyer,"},{"speaker":"John Foong","startTime":1661.074,"endTime":1663.534,"body":"actually the buyer's agent."},{"speaker":"John Foong","startTime":1664.169,"endTime":1665.129,"body":"We use one for a recent."},{"speaker":"Average Joe Finances","startTime":1665.129,"endTime":1667.319,"body":"Which is"},{"speaker":"Average Joe Finances","startTime":1665.129,"endTime":1667.319,"body":"why you have buyer beware, right?"},{"speaker":"John Foong","startTime":1667.739,"endTime":1668.149,"body":"So yeah."},{"speaker":"John Foong","startTime":1668.149,"endTime":1668.329,"body":"Yeah."},{"speaker":"John Foong","startTime":1668.329,"endTime":1671.059,"body":"I wish that the seller paid it, that"},{"speaker":"John Foong","startTime":1668.329,"endTime":1671.059,"body":"everyone was in that habit like it"},{"speaker":"John Foong","startTime":1671.064,"endTime":1673.729,"body":"is in America, because everyone would"},{"speaker":"John Foong","startTime":1671.064,"endTime":1673.729,"body":"have one and it'll be great, but here,"},{"speaker":"John Foong","startTime":1673.729,"endTime":1676.579,"body":"because the buyer pays it, most buyers"},{"speaker":"John Foong","startTime":1673.729,"endTime":1676.579,"body":"don't wanna pay extra one half percent."},{"speaker":"John Foong","startTime":1676.629,"endTime":1677.679,"body":"I wanna pay extra half percent."},{"speaker":"John Foong","startTime":1677.859,"endTime":1678.699,"body":"I'll just do it myself."},{"speaker":"John Foong","startTime":1679.059,"endTime":1681.439,"body":"And as a result, we really"},{"speaker":"John Foong","startTime":1679.059,"endTime":1681.439,"body":"miss out, on those things."},{"speaker":"John Foong","startTime":1681.439,"endTime":1682.939,"body":"So that's one of those"},{"speaker":"John Foong","startTime":1681.439,"endTime":1682.939,"body":"big differences, right?"},{"speaker":"Average Joe Finances","startTime":1683.029,"endTime":1685.639,"body":"Unless they've"},{"speaker":"Average Joe Finances","startTime":1683.029,"endTime":1685.639,"body":"really gone out and studied real estate."},{"speaker":"Average Joe Finances","startTime":1685.689,"endTime":1688.599,"body":"Maybe go out and take all the classes that"},{"speaker":"Average Joe Finances","startTime":1685.689,"endTime":1688.599,"body":"a real estate agent would have to take."},{"speaker":"Average Joe Finances","startTime":1688.649,"endTime":1691.739,"body":"But yeah it's interesting because"},{"speaker":"Average Joe Finances","startTime":1688.649,"endTime":1691.739,"body":"you know that representation you get"},{"speaker":"Average Joe Finances","startTime":1692.069,"endTime":1693.929,"body":"with a buyer's agent is significant."},{"speaker":"Average Joe Finances","startTime":1693.929,"endTime":1697.919,"body":"So it's all, it's funny to hear the"},{"speaker":"Average Joe Finances","startTime":1693.929,"endTime":1697.919,"body":"difference though, between how that"},{"speaker":"Average Joe Finances","startTime":1697.919,"endTime":1699.899,"body":"works in Australia versus in the States."},{"speaker":"Average Joe Finances","startTime":1700.179,"endTime":1702.084,"body":"So you've been able to experience both."},{"speaker":"John Foong","startTime":1702.444,"endTime":1702.684,"body":"Yeah."},{"speaker":"John Foong","startTime":1703.014,"endTime":1703.224,"body":"Yeah."},{"speaker":"John Foong","startTime":1703.224,"endTime":1703.225,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1703.569,"endTime":1705.819,"body":"I wanna rewind"},{"speaker":"Average Joe Finances","startTime":1703.569,"endTime":1705.819,"body":"back to what I was talking about"},{"speaker":"Average Joe Finances","startTime":1705.819,"endTime":1707.349,"body":"with the Australian mortgage, right?"},{"speaker":"Average Joe Finances","startTime":1707.349,"endTime":1709.539,"body":"So that's what we call velocity banking."},{"speaker":"Average Joe Finances","startTime":1709.859,"endTime":1713.469,"body":"'cause you had described it as, you'll"},{"speaker":"Average Joe Finances","startTime":1709.859,"endTime":1713.469,"body":"get a set five years in an interest rate"},{"speaker":"Average Joe Finances","startTime":1713.474,"endTime":1714.729,"body":"and then it becomes variable, right?"},{"speaker":"John Foong","startTime":1715.049,"endTime":1715.339,"body":"Yeah."},{"speaker":"John Foong","startTime":1715.339,"endTime":1716.019,"body":"Usually two years."},{"speaker":"John Foong","startTime":1716.129,"endTime":1716.419,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1716.419,"endTime":1716.42,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1716.719,"endTime":1720.284,"body":"So that's, that's for us, when we take"},{"speaker":"Average Joe Finances","startTime":1716.719,"endTime":1720.284,"body":"out a heloc, we do the same thing, right?"},{"speaker":"Average Joe Finances","startTime":1720.334,"endTime":1721.804,"body":"Like I took out a HELOC on my home."},{"speaker":"Average Joe Finances","startTime":1722.494,"endTime":1726.664,"body":"I locked in for five years on a specific"},{"speaker":"Average Joe Finances","startTime":1722.494,"endTime":1726.664,"body":"interest rate, then it goes variable."},{"speaker":"Average Joe Finances","startTime":1727.024,"endTime":1731.434,"body":"But what I did is I took the equity from"},{"speaker":"Average Joe Finances","startTime":1727.024,"endTime":1731.434,"body":"that home the equity in that heloc, and I"},{"speaker":"Average Joe Finances","startTime":1731.434,"endTime":1732.964,"body":"started paying down my mortgage with it."},{"speaker":"Average Joe Finances","startTime":1733.024,"endTime":1733.594,"body":"Fantastic, right?"},{"speaker":"Average Joe Finances","startTime":1733.894,"endTime":1736.384,"body":"And then I pay that line down and"},{"speaker":"Average Joe Finances","startTime":1733.894,"endTime":1736.384,"body":"then pay down the mortgage some"},{"speaker":"Average Joe Finances","startTime":1736.384,"endTime":1737.794,"body":"more, and then I increased the line."},{"speaker":"Average Joe Finances","startTime":1738.274,"endTime":1740.704,"body":"And it's just a way to"},{"speaker":"Average Joe Finances","startTime":1738.274,"endTime":1740.704,"body":"pay down the home faster."},{"speaker":"Average Joe Finances","startTime":1740.884,"endTime":1744.834,"body":"And I've also used it to purchase more"},{"speaker":"Average Joe Finances","startTime":1740.884,"endTime":1744.834,"body":"real estate, so now I have this liquidity."},{"speaker":"Average Joe Finances","startTime":1744.834,"endTime":1747.119,"body":"I have this line of credit"},{"speaker":"Average Joe Finances","startTime":1744.834,"endTime":1747.119,"body":"with, of liquidity that"},{"speaker":"Average Joe Finances","startTime":1747.119,"endTime":1748.919,"body":"actually helps me get in and."},{"speaker":"Average Joe Finances","startTime":1749.399,"endTime":1749.999,"body":"Do what I need to do."},{"speaker":"Average Joe Finances","startTime":1749.999,"endTime":1753.819,"body":"It's also helped me with this transition"},{"speaker":"Average Joe Finances","startTime":1749.999,"endTime":1753.819,"body":"outta the military to where I'm at now."},{"speaker":"Average Joe Finances","startTime":1753.819,"endTime":1756.249,"body":"Like I had a really big"},{"speaker":"Average Joe Finances","startTime":1753.819,"endTime":1756.249,"body":"buffer to work with."},{"speaker":"John Foong","startTime":1756.909,"endTime":1757.239,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":1757.239,"endTime":1758.734,"body":"So that's something"},{"speaker":"Average Joe Finances","startTime":1757.239,"endTime":1758.734,"body":"else that's really great about that."},{"speaker":"Average Joe Finances","startTime":1758.734,"endTime":1762.274,"body":"But it's funny because like it's"},{"speaker":"Average Joe Finances","startTime":1758.734,"endTime":1762.274,"body":"been described in the past as an"},{"speaker":"Average Joe Finances","startTime":1762.274,"endTime":1765.519,"body":"Australian mortgage, so that's"},{"speaker":"Average Joe Finances","startTime":1762.274,"endTime":1765.519,"body":"why I hear what it was like there."},{"speaker":"John Foong","startTime":1765.519,"endTime":1769.329,"body":"Yeah, no I think America"},{"speaker":"John Foong","startTime":1765.519,"endTime":1769.329,"body":"with regards to line of credit is"},{"speaker":"John Foong","startTime":1769.329,"endTime":1772.179,"body":"I, there's definitely more financial"},{"speaker":"John Foong","startTime":1769.329,"endTime":1772.179,"body":"products and there's more options"},{"speaker":"John Foong","startTime":1772.539,"endTime":1773.609,"body":"and, you describe what you do."},{"speaker":"John Foong","startTime":1773.609,"endTime":1773.819,"body":"It's."},{"speaker":"John Foong","startTime":1774.479,"endTime":1777.759,"body":"If that stuff didn't exist, you would not"},{"speaker":"John Foong","startTime":1774.479,"endTime":1777.759,"body":"be able to invest as much as you are now."},{"speaker":"John Foong","startTime":1777.759,"endTime":1779.469,"body":"So it's a great gift to have those things."},{"speaker":"John Foong","startTime":1779.469,"endTime":1782.079,"body":"I would love to have more of"},{"speaker":"John Foong","startTime":1779.469,"endTime":1782.079,"body":"that sophistication in Australia."},{"speaker":"John Foong","startTime":1782.349,"endTime":1785.099,"body":"So it's interesting that the Australian"},{"speaker":"John Foong","startTime":1782.349,"endTime":1785.099,"body":"mortgage is turned that way 'cause I"},{"speaker":"John Foong","startTime":1785.104,"endTime":1786.359,"body":"would love more American mortgages here."},{"speaker":"Average Joe Finances","startTime":1787.409,"endTime":1787.979,"body":"No, it's great."},{"speaker":"Average Joe Finances","startTime":1787.984,"endTime":1790.894,"body":"And for my listeners here, I just wanna"},{"speaker":"Average Joe Finances","startTime":1787.984,"endTime":1790.894,"body":"point this out you guys are hearing"},{"speaker":"Average Joe Finances","startTime":1790.894,"endTime":1792.244,"body":"the difference right now between."},{"speaker":"Average Joe Finances","startTime":1792.669,"endTime":1795.779,"body":"Australian real estate market and"},{"speaker":"Average Joe Finances","startTime":1792.669,"endTime":1795.779,"body":"the US real estate market and just"},{"speaker":"Average Joe Finances","startTime":1795.779,"endTime":1799.199,"body":"buying properties in general and what"},{"speaker":"Average Joe Finances","startTime":1795.779,"endTime":1799.199,"body":"some of these differences are and how"},{"speaker":"Average Joe Finances","startTime":1799.499,"endTime":1804.359,"body":"in the states there's so many more"},{"speaker":"Average Joe Finances","startTime":1799.499,"endTime":1804.359,"body":"opportunities to get money for real"},{"speaker":"Average Joe Finances","startTime":1804.359,"endTime":1808.919,"body":"estate to get credit or whatever it"},{"speaker":"Average Joe Finances","startTime":1804.359,"endTime":1808.919,"body":"might be to purchase more real estate."},{"speaker":"Average Joe Finances","startTime":1809.169,"endTime":1814.279,"body":"We do have some really great programs and"},{"speaker":"Average Joe Finances","startTime":1809.169,"endTime":1814.279,"body":"great ways of financing if you want to"},{"speaker":"Average Joe Finances","startTime":1814.279,"endTime":1817.099,"body":"get creative to get into more real estate."},{"speaker":"Average Joe Finances","startTime":1817.104,"endTime":1818.059,"body":"And I just wanna point that out."},{"speaker":"John Foong","startTime":1818.694,"endTime":1820.284,"body":"Just on that note"},{"speaker":"John Foong","startTime":1818.694,"endTime":1820.284,"body":"we talked all about kind of"},{"speaker":"John Foong","startTime":1820.284,"endTime":1821.664,"body":"this growth mindset before."},{"speaker":"John Foong","startTime":1821.874,"endTime":1822.144,"body":"Yeah."},{"speaker":"John Foong","startTime":1822.454,"endTime":1826.744,"body":"I, going back in the day, I never"},{"speaker":"John Foong","startTime":1822.454,"endTime":1826.744,"body":"would've thought about lines of credit."},{"speaker":"John Foong","startTime":1827.239,"endTime":1828.979,"body":"Because to me it's almost"},{"speaker":"John Foong","startTime":1827.239,"endTime":1828.979,"body":"like, why would you do that?"},{"speaker":"John Foong","startTime":1828.979,"endTime":1831.164,"body":"I assert it with kind of"},{"speaker":"John Foong","startTime":1828.979,"endTime":1831.164,"body":"margin loans, which is oh sure,"},{"speaker":"John Foong","startTime":1831.164,"endTime":1832.304,"body":"it's high risk, high reward."},{"speaker":"John Foong","startTime":1832.304,"endTime":1834.844,"body":"You pay a higher interest rate, but if"},{"speaker":"John Foong","startTime":1832.304,"endTime":1834.844,"body":"the mark goes down, you're in trouble."},{"speaker":"John Foong","startTime":1835.084,"endTime":1838.634,"body":"And so I had a mindset up to only"},{"speaker":"John Foong","startTime":1835.084,"endTime":1838.634,"body":"a few years ago that I generally"},{"speaker":"John Foong","startTime":1838.634,"endTime":1839.594,"body":"don't use lines of credit."},{"speaker":"John Foong","startTime":1839.594,"endTime":1840.404,"body":"I have mortgages."},{"speaker":"John Foong","startTime":1840.434,"endTime":1841.934,"body":"I try and leverage up with"},{"speaker":"John Foong","startTime":1840.434,"endTime":1841.934,"body":"mortgages and that's it."},{"speaker":"John Foong","startTime":1842.564,"endTime":1846.464,"body":"And it's only through exposing myself"},{"speaker":"John Foong","startTime":1842.564,"endTime":1846.464,"body":"to more products and podcasts was like,"},{"speaker":"John Foong","startTime":1846.464,"endTime":1848.189,"body":"oh, actually, Here's another option."},{"speaker":"John Foong","startTime":1848.819,"endTime":1851.399,"body":"And I went from thinking like I"},{"speaker":"John Foong","startTime":1848.819,"endTime":1851.399,"body":"would never touch that stuff to"},{"speaker":"John Foong","startTime":1851.399,"endTime":1854.549,"body":"realizing, wow, that's actually very"},{"speaker":"John Foong","startTime":1851.399,"endTime":1854.549,"body":"useful in certain circumstances."},{"speaker":"John Foong","startTime":1854.549,"endTime":1857.739,"body":"And for us, when we were moving from"},{"speaker":"John Foong","startTime":1854.549,"endTime":1857.739,"body":"America to Australia, we were looking"},{"speaker":"John Foong","startTime":1857.739,"endTime":1859.649,"body":"to, take out a loan here in Australia."},{"speaker":"John Foong","startTime":1859.859,"endTime":1862.709,"body":"We needed more liquidity and we"},{"speaker":"John Foong","startTime":1859.859,"endTime":1862.709,"body":"didn't necessarily wanna sell"},{"speaker":"John Foong","startTime":1862.739,"endTime":1864.029,"body":"all the assets we had in America."},{"speaker":"John Foong","startTime":1864.479,"endTime":1867.389,"body":"Those lines of credit were very useful"},{"speaker":"John Foong","startTime":1864.479,"endTime":1867.389,"body":"liquidity access slide in this case."},{"speaker":"John Foong","startTime":1867.719,"endTime":1871.949,"body":"And so I'm grateful for those products"},{"speaker":"John Foong","startTime":1867.719,"endTime":1871.949,"body":"existing, and my only wish is that"},{"speaker":"John Foong","startTime":1871.949,"endTime":1873.629,"body":"I had educated myself more earlier."},{"speaker":"John Foong","startTime":1873.884,"endTime":1876.384,"body":"Because maybe I would've made different"},{"speaker":"John Foong","startTime":1873.884,"endTime":1876.384,"body":"choices with the information I had."},{"speaker":"Average Joe Finances","startTime":1877.004,"endTime":1877.904,"body":"No, I appreciate that."},{"speaker":"Average Joe Finances","startTime":1877.904,"endTime":1880.304,"body":"Liquidity is the name of the game."},{"speaker":"Average Joe Finances","startTime":1880.844,"endTime":1883.884,"body":"It's it can really make or break"},{"speaker":"Average Joe Finances","startTime":1880.844,"endTime":1883.884,"body":"in the future and just really"},{"speaker":"Average Joe Finances","startTime":1883.884,"endTime":1885.534,"body":"help you scale a lot faster."},{"speaker":"Average Joe Finances","startTime":1885.539,"endTime":1886.879,"body":"So John this has been awesome."},{"speaker":"Average Joe Finances","startTime":1886.879,"endTime":1889.394,"body":"I got a lot of great information and"},{"speaker":"Average Joe Finances","startTime":1886.879,"endTime":1889.394,"body":"really awesome page of notes here."},{"speaker":"Average Joe Finances","startTime":1889.904,"endTime":1892.784,"body":"I wanna transition this into something"},{"speaker":"Average Joe Finances","startTime":1889.904,"endTime":1892.784,"body":"that we call the final round."},{"speaker":"Average Joe Finances","startTime":1893.164,"endTime":1896.164,"body":"Yes, where I'm going to ask you the"},{"speaker":"Average Joe Finances","startTime":1893.164,"endTime":1896.164,"body":"same four questions I ask everybody"},{"speaker":"Average Joe Finances","startTime":1896.164,"endTime":1899.704,"body":"that comes on the show and it gives us"},{"speaker":"Average Joe Finances","startTime":1896.164,"endTime":1899.704,"body":"a better idea of how you are under a"},{"speaker":"Average Joe Finances","startTime":1899.704,"endTime":1902.519,"body":"little bit of pressure, ask, getting"},{"speaker":"Average Joe Finances","startTime":1899.704,"endTime":1902.519,"body":"asked some some tough questions."},{"speaker":"Average Joe Finances","startTime":1902.879,"endTime":1903.779,"body":"They're not so bad though."},{"speaker":"Average Joe Finances","startTime":1903.839,"endTime":1904.439,"body":"They're really not there."},{"speaker":"Average Joe Finances","startTime":1905.159,"endTime":1907.224,"body":"But if you're ready to go"},{"speaker":"Average Joe Finances","startTime":1905.159,"endTime":1907.224,"body":"we'll get that party started."},{"speaker":"John Foong","startTime":1907.794,"endTime":1908.604,"body":"Alright, let's give it a shot."},{"speaker":"Average Joe Finances","startTime":1908.994,"endTime":1909.684,"body":"Okay, John."},{"speaker":"Average Joe Finances","startTime":1910.194,"endTime":1910.494,"body":"Alright."},{"speaker":"Average Joe Finances","startTime":1910.499,"endTime":1915.954,"body":"So the first question of the final round"},{"speaker":"Average Joe Finances","startTime":1910.499,"endTime":1915.954,"body":"is, what's the biggest mistake you've ever"},{"speaker":"Average Joe Finances","startTime":1915.954,"endTime":1918.384,"body":"made when it comes to your own finances?"},{"speaker":"Average Joe Finances","startTime":1918.444,"endTime":1921.924,"body":"Investing real estate or"},{"speaker":"Average Joe Finances","startTime":1918.444,"endTime":1921.924,"body":"just business in general?"},{"speaker":"John Foong","startTime":1923.269,"endTime":1926.539,"body":"I think the phrase that I"},{"speaker":"John Foong","startTime":1923.269,"endTime":1926.539,"body":"use a lot in my current like my current"},{"speaker":"John Foong","startTime":1926.539,"endTime":1933.229,"body":"job is don't try to time the market,"},{"speaker":"John Foong","startTime":1926.539,"endTime":1933.229,"body":"maximize your time in market, right?"},{"speaker":"John Foong","startTime":1933.229,"endTime":1936.649,"body":"So I think it's, I would say foolish."},{"speaker":"John Foong","startTime":1936.649,"endTime":1937.999,"body":"It's very difficult to"},{"speaker":"John Foong","startTime":1936.649,"endTime":1937.999,"body":"know what will happen."},{"speaker":"John Foong","startTime":1938.209,"endTime":1939.379,"body":"Covid, you talked about covid before."},{"speaker":"John Foong","startTime":1939.379,"endTime":1940.909,"body":"Who knows what the impact to Covid is?"},{"speaker":"John Foong","startTime":1941.329,"endTime":1944.599,"body":"We thought Covid would be terrible for"},{"speaker":"John Foong","startTime":1941.329,"endTime":1944.599,"body":"property and it was for a few weeks"},{"speaker":"John Foong","startTime":1944.599,"endTime":1947.329,"body":"and then it was amazing for a year and"},{"speaker":"John Foong","startTime":1944.599,"endTime":1947.329,"body":"a half, and now we have the opposite."},{"speaker":"John Foong","startTime":1947.359,"endTime":1948.199,"body":"Now it's going back."},{"speaker":"John Foong","startTime":1948.199,"endTime":1950.509,"body":"So don't attempt to time the market."},{"speaker":"John Foong","startTime":1950.944,"endTime":1955.204,"body":"I would attempt to spend as much time in"},{"speaker":"John Foong","startTime":1950.944,"endTime":1955.204,"body":"the market as possible, because I know"},{"speaker":"John Foong","startTime":1955.204,"endTime":1959.854,"body":"that historically stocks and properties"},{"speaker":"John Foong","startTime":1955.204,"endTime":1959.854,"body":"go up five to 7% year on year If you can"},{"speaker":"John Foong","startTime":1959.854,"endTime":1961.514,"body":"weigh that and you're buying good assets."},{"speaker":"John Foong","startTime":1961.514,"endTime":1962.654,"body":"So that's what I've done."},{"speaker":"John Foong","startTime":1962.654,"endTime":1965.409,"body":"I've stopped trying to time the market and"},{"speaker":"John Foong","startTime":1962.654,"endTime":1965.409,"body":"I just say, look, here's the money I have."},{"speaker":"John Foong","startTime":1965.409,"endTime":1966.219,"body":"Here's much I can borrow."},{"speaker":"John Foong","startTime":1966.429,"endTime":1969.279,"body":"Let me maximize how much and"},{"speaker":"John Foong","startTime":1966.429,"endTime":1969.279,"body":"how long I'm in the market."},{"speaker":"John Foong","startTime":1969.489,"endTime":1971.409,"body":"Ideally, buy and hold"},{"speaker":"John Foong","startTime":1969.489,"endTime":1971.409,"body":"on for as long as I can."},{"speaker":"Average Joe Finances","startTime":1972.114,"endTime":1972.894,"body":"Appreciate that."},{"speaker":"Average Joe Finances","startTime":1972.894,"endTime":1976.044,"body":"It is something that, that's said"},{"speaker":"Average Joe Finances","startTime":1972.894,"endTime":1976.044,"body":"commonly on this podcast too, is,"},{"speaker":"Average Joe Finances","startTime":1976.044,"endTime":1979.024,"body":"when we talk about real estate in"},{"speaker":"Average Joe Finances","startTime":1976.044,"endTime":1979.024,"body":"general, we always say the best time"},{"speaker":"Average Joe Finances","startTime":1979.024,"endTime":1980.344,"body":"to buy real estate was 20 years ago."},{"speaker":"Average Joe Finances","startTime":1980.344,"endTime":1981.994,"body":"The second best time is today."},{"speaker":"Average Joe Finances","startTime":1982.354,"endTime":1982.714,"body":"Exactly right."},{"speaker":"Average Joe Finances","startTime":1982.714,"endTime":1985.234,"body":"So just always thinking like that."},{"speaker":"Average Joe Finances","startTime":1985.264,"endTime":1986.909,"body":"You're gonna be, you're gonna be okay."},{"speaker":"Average Joe Finances","startTime":1986.959,"endTime":1989.449,"body":"As you said earlier,"},{"speaker":"Average Joe Finances","startTime":1986.959,"endTime":1989.449,"body":"it's going to be okay."},{"speaker":"Average Joe Finances","startTime":1990.289,"endTime":1990.799,"body":"So I love that."},{"speaker":"Average Joe Finances","startTime":1991.639,"endTime":1994.819,"body":"All right, John, so the next question,"},{"speaker":"Average Joe Finances","startTime":1991.639,"endTime":1994.819,"body":"again, these questions all tie into"},{"speaker":"Average Joe Finances","startTime":1994.819,"endTime":1998.509,"body":"each other, but what is something"},{"speaker":"Average Joe Finances","startTime":1994.819,"endTime":1998.509,"body":"that you've learned that you wish"},{"speaker":"Average Joe Finances","startTime":1998.509,"endTime":2000.309,"body":"you knew when you first got started?"},{"speaker":"John Foong","startTime":2001.379,"endTime":2003.179,"body":"I started"},{"speaker":"John Foong","startTime":2001.379,"endTime":2003.179,"body":"my life as a consultant."},{"speaker":"John Foong","startTime":2003.309,"endTime":2008.229,"body":"I worked at McKinsey here in Australia"},{"speaker":"John Foong","startTime":2003.309,"endTime":2008.229,"body":"for a few years, and I think in my head,"},{"speaker":"John Foong","startTime":2008.319,"endTime":2012.229,"body":"consulting was always something that"},{"speaker":"John Foong","startTime":2008.319,"endTime":2012.229,"body":"you do if you have a lot of money, or"},{"speaker":"John Foong","startTime":2012.229,"endTime":2015.549,"body":"if you're a corporation, but it wasn't"},{"speaker":"John Foong","startTime":2012.229,"endTime":2015.549,"body":"something for Average Joe, right?"},{"speaker":"Average Joe Finances","startTime":2015.879,"endTime":2016.089,"body":"Sure."},{"speaker":"John Foong","startTime":2016.089,"endTime":2019.179,"body":"But, and certainly using an"},{"speaker":"John Foong","startTime":2016.089,"endTime":2019.179,"body":"expensive consultant is not for average"},{"speaker":"John Foong","startTime":2019.179,"endTime":2025.479,"body":"shows, but on basically every area I have"},{"speaker":"John Foong","startTime":2019.179,"endTime":2025.479,"body":"begun or continued to try and get help."},{"speaker":"John Foong","startTime":2025.789,"endTime":2028.279,"body":"For example, I would've never spoken"},{"speaker":"John Foong","startTime":2025.789,"endTime":2028.279,"body":"to someone about tax consulting."},{"speaker":"John Foong","startTime":2028.559,"endTime":2030.809,"body":"We have over the last few years,"},{"speaker":"John Foong","startTime":2028.559,"endTime":2030.809,"body":"particularly as we've made international"},{"speaker":"John Foong","startTime":2030.814,"endTime":2032.639,"body":"moves, I wish I'd done 10 years ago."},{"speaker":"John Foong","startTime":2033.139,"endTime":2036.749,"body":"'cause all these tax laws, potential"},{"speaker":"John Foong","startTime":2033.139,"endTime":2036.749,"body":"things you can do, problems to avoid"},{"speaker":"John Foong","startTime":2036.749,"endTime":2039.779,"body":"that someone who is in the industry"},{"speaker":"John Foong","startTime":2036.749,"endTime":2039.779,"body":"who's done a hundred times will tell you"},{"speaker":"John Foong","startTime":2039.779,"endTime":2042.809,"body":"about and you have no idea 'cause you've"},{"speaker":"John Foong","startTime":2039.779,"endTime":2042.809,"body":"never done it at this stage of your life."},{"speaker":"John Foong","startTime":2043.439,"endTime":2046.139,"body":"Similar with things such as"},{"speaker":"John Foong","startTime":2043.439,"endTime":2046.139,"body":"property investing, right?"},{"speaker":"John Foong","startTime":2046.144,"endTime":2046.949,"body":"There are experts there."},{"speaker":"John Foong","startTime":2046.949,"endTime":2050.249,"body":"We talked about buyers agents before,"},{"speaker":"John Foong","startTime":2046.949,"endTime":2050.249,"body":"and the question which I'd always"},{"speaker":"John Foong","startTime":2050.249,"endTime":2053.489,"body":"have for you is, who is the expert"},{"speaker":"John Foong","startTime":2050.249,"endTime":2053.489,"body":"on something that's important to you?"},{"speaker":"John Foong","startTime":2053.939,"endTime":2055.259,"body":"Is there a way you could speak to them?"},{"speaker":"John Foong","startTime":2055.349,"endTime":2056.609,"body":"And it may be expensive."},{"speaker":"John Foong","startTime":2056.829,"endTime":2059.649,"body":"Whether it's finances or your health"},{"speaker":"John Foong","startTime":2056.829,"endTime":2059.649,"body":"or your marriage or things like that."},{"speaker":"John Foong","startTime":2059.919,"endTime":2060.909,"body":"But certainly you can learn."},{"speaker":"John Foong","startTime":2061.269,"endTime":2064.899,"body":"And if anything I wish that I had"},{"speaker":"John Foong","startTime":2061.269,"endTime":2064.899,"body":"understood my ignorance on any"},{"speaker":"John Foong","startTime":2064.904,"endTime":2068.079,"body":"given topic earlier in my life, and"},{"speaker":"John Foong","startTime":2064.904,"endTime":2068.079,"body":"I had reached out to experts, not"},{"speaker":"John Foong","startTime":2068.079,"endTime":2069.489,"body":"just friends who are very helpful."},{"speaker":"John Foong","startTime":2069.489,"endTime":2072.759,"body":"It's a good start, but often paid"},{"speaker":"John Foong","startTime":2069.489,"endTime":2072.759,"body":"experts where I might pay a few hundred"},{"speaker":"John Foong","startTime":2072.759,"endTime":2074.289,"body":"dollars, but save a few hundred thousand."},{"speaker":"Average Joe Finances","startTime":2075.469,"endTime":2078.319,"body":"I love that I've"},{"speaker":"Average Joe Finances","startTime":2075.469,"endTime":2078.319,"body":"paid coaches in the past too, myself."},{"speaker":"Average Joe Finances","startTime":2078.689,"endTime":2082.989,"body":"I think coaches and mentorship"},{"speaker":"Average Joe Finances","startTime":2078.689,"endTime":2082.989,"body":"are huge to success in any"},{"speaker":"Average Joe Finances","startTime":2082.989,"endTime":2083.949,"body":"industry that you want to be in."},{"speaker":"Average Joe Finances","startTime":2083.949,"endTime":2086.499,"body":"Not just necessarily real estate,"},{"speaker":"Average Joe Finances","startTime":2083.949,"endTime":2086.499,"body":"but anything that you're interested"},{"speaker":"Average Joe Finances","startTime":2086.499,"endTime":2088.149,"body":"in if you wanna be successful in it."},{"speaker":"Average Joe Finances","startTime":2088.199,"endTime":2090.539,"body":"You see all these folks"},{"speaker":"Average Joe Finances","startTime":2088.199,"endTime":2090.539,"body":"that are in sports, right?"},{"speaker":"Average Joe Finances","startTime":2090.629,"endTime":2091.769,"body":"They have coaches."},{"speaker":"Average Joe Finances","startTime":2092.049,"endTime":2093.069,"body":"They're not doing it by themself."},{"speaker":"Average Joe Finances","startTime":2093.069,"endTime":2096.479,"body":"There's always somebody there that's"},{"speaker":"Average Joe Finances","startTime":2093.069,"endTime":2096.479,"body":"giving them tips and tricks to get better."},{"speaker":"Average Joe Finances","startTime":2097.489,"endTime":2100.849,"body":"At that and actually, speaking of tips and"},{"speaker":"Average Joe Finances","startTime":2097.489,"endTime":2100.849,"body":"tricks, that's actually the next question."},{"speaker":"Average Joe Finances","startTime":2100.854,"endTime":2105.499,"body":"John, do you have any tips or tricks"},{"speaker":"Average Joe Finances","startTime":2100.854,"endTime":2105.499,"body":"that you would recommend to someone"},{"speaker":"Average Joe Finances","startTime":2105.499,"endTime":2107.209,"body":"that is just getting started out today?"},{"speaker":"John Foong","startTime":2108.859,"endTime":2110.179,"body":"There's probably"},{"speaker":"John Foong","startTime":2108.859,"endTime":2110.179,"body":"two that come to mind."},{"speaker":"John Foong","startTime":2110.279,"endTime":2112.824,"body":"I did talk about the balance"},{"speaker":"John Foong","startTime":2110.279,"endTime":2112.824,"body":"sheet and profit loss statement."},{"speaker":"John Foong","startTime":2113.404,"endTime":2117.589,"body":"I only, I did my first one really"},{"speaker":"John Foong","startTime":2113.404,"endTime":2117.589,"body":"when when our first child was born."},{"speaker":"John Foong","startTime":2117.869,"endTime":2119.039,"body":"I found that very helpful."},{"speaker":"John Foong","startTime":2119.424,"endTime":2122.514,"body":"I found it helpful because it not"},{"speaker":"John Foong","startTime":2119.424,"endTime":2122.514,"body":"just forced me to understand the"},{"speaker":"John Foong","startTime":2122.514,"endTime":2125.004,"body":"true state of my finances, but"},{"speaker":"John Foong","startTime":2122.514,"endTime":2125.004,"body":"it also helped me question like,"},{"speaker":"John Foong","startTime":2125.424,"endTime":2126.504,"body":"what's the purpose of my life?"},{"speaker":"John Foong","startTime":2126.504,"endTime":2128.334,"body":"What are the goals that I"},{"speaker":"John Foong","startTime":2126.504,"endTime":2128.334,"body":"have in this point in time?"},{"speaker":"John Foong","startTime":2128.724,"endTime":2130.224,"body":"So I think that is very helpful."},{"speaker":"John Foong","startTime":2130.224,"endTime":2131.459,"body":"Just say okay, it's a mirror."},{"speaker":"John Foong","startTime":2131.739,"endTime":2132.489,"body":"It's a mirror."},{"speaker":"John Foong","startTime":2132.609,"endTime":2134.859,"body":"And when you look in the"},{"speaker":"John Foong","startTime":2132.609,"endTime":2134.859,"body":"mirror, you make observations."},{"speaker":"John Foong","startTime":2134.859,"endTime":2135.879,"body":"You might wanna make changes."},{"speaker":"John Foong","startTime":2135.999,"endTime":2136.629,"body":"That's one thing."},{"speaker":"John Foong","startTime":2137.189,"endTime":2139.649,"body":"The other thing is just"},{"speaker":"John Foong","startTime":2137.189,"endTime":2139.649,"body":"started, I talked about timing."},{"speaker":"John Foong","startTime":2139.779,"endTime":2141.879,"body":"Time in the market rather"},{"speaker":"John Foong","startTime":2139.779,"endTime":2141.879,"body":"than time in the market."},{"speaker":"John Foong","startTime":2142.119,"endTime":2145.079,"body":"I'm very grateful that at Edge"},{"speaker":"John Foong","startTime":2142.119,"endTime":2145.079,"body":"team, I started, by my own property."},{"speaker":"John Foong","startTime":2145.904,"endTime":2148.139,"body":"And going through that the process of all."},{"speaker":"John Foong","startTime":2148.139,"endTime":2149.479,"body":"Wow how do I choose a property?"},{"speaker":"John Foong","startTime":2149.839,"endTime":2150.679,"body":"Who do I use?"},{"speaker":"John Foong","startTime":2150.679,"endTime":2152.819,"body":"How much I gonna spend what"},{"speaker":"John Foong","startTime":2150.679,"endTime":2152.819,"body":"do I do with this cashflow?"},{"speaker":"John Foong","startTime":2152.824,"endTime":2153.119,"body":"What are this?"},{"speaker":"John Foong","startTime":2153.519,"endTime":2157.179,"body":"You, it, it confronts you with a"},{"speaker":"John Foong","startTime":2153.519,"endTime":2157.179,"body":"bunch of questions that you can only"},{"speaker":"John Foong","startTime":2157.179,"endTime":2158.709,"body":"learn in practice and not theory."},{"speaker":"John Foong","startTime":2159.219,"endTime":2162.404,"body":"So no matter where you're at, if"},{"speaker":"John Foong","startTime":2159.219,"endTime":2162.404,"body":"you are at the very start of your"},{"speaker":"John Foong","startTime":2162.404,"endTime":2164.994,"body":"investing journey, if you're the"},{"speaker":"John Foong","startTime":2162.404,"endTime":2164.994,"body":"very start of earning money, if you"},{"speaker":"John Foong","startTime":2164.994,"endTime":2169.614,"body":"are in the new stage of your life, I"},{"speaker":"John Foong","startTime":2164.994,"endTime":2169.614,"body":"would just say try and do something."},{"speaker":"John Foong","startTime":2170.424,"endTime":2173.814,"body":"After you do your analysis on your"},{"speaker":"John Foong","startTime":2170.424,"endTime":2173.814,"body":"balance sheet, try an investment, whether"},{"speaker":"John Foong","startTime":2173.814,"endTime":2176.283,"body":"it's stocks or an ETF or property."},{"speaker":"John Foong","startTime":2176.553,"endTime":2179.083,"body":"You'll learn and you'll, it won't"},{"speaker":"John Foong","startTime":2176.553,"endTime":2179.083,"body":"even be the right thing you do the"},{"speaker":"John Foong","startTime":2179.083,"endTime":2181.483,"body":"first time, but it'll make your"},{"speaker":"John Foong","startTime":2179.083,"endTime":2181.483,"body":"second and third times much better."},{"speaker":"Average Joe Finances","startTime":2182.203,"endTime":2184.543,"body":"Yeah I love that"},{"speaker":"Average Joe Finances","startTime":2182.203,"endTime":2184.543,"body":"because, if you start early enough, you"},{"speaker":"Average Joe Finances","startTime":2184.543,"endTime":2188.443,"body":"start off with your balance sheet right"},{"speaker":"Average Joe Finances","startTime":2184.543,"endTime":2188.443,"body":"away, you track your net worth, you"},{"speaker":"Average Joe Finances","startTime":2188.443,"endTime":2190.063,"body":"can see where you're trending, right?"},{"speaker":"Average Joe Finances","startTime":2190.063,"endTime":2193.963,"body":"If you're trending up or down, and"},{"speaker":"Average Joe Finances","startTime":2190.063,"endTime":2193.963,"body":"you just, you have a better way to"},{"speaker":"Average Joe Finances","startTime":2193.993,"endTime":2198.163,"body":"figure out any changes you might"},{"speaker":"Average Joe Finances","startTime":2193.993,"endTime":2198.163,"body":"need to make any change in trajectory"},{"speaker":"Average Joe Finances","startTime":2198.163,"endTime":2199.663,"body":"as you're going on your journey."},{"speaker":"Average Joe Finances","startTime":2200.023,"endTime":2201.258,"body":"And I think that's huge, right?"},{"speaker":"Average Joe Finances","startTime":2201.258,"endTime":2202.008,"body":"And get started."},{"speaker":"Average Joe Finances","startTime":2202.098,"endTime":2203.748,"body":"Just get started, take action, right?"},{"speaker":"Average Joe Finances","startTime":2203.748,"endTime":2205.108,"body":"Those are phenomenal answers."},{"speaker":"Average Joe Finances","startTime":2205.108,"endTime":2205.708,"body":"I appreciate that."},{"speaker":"Average Joe Finances","startTime":2206.418,"endTime":2210.018,"body":"So John, the final question of the final"},{"speaker":"Average Joe Finances","startTime":2206.418,"endTime":2210.018,"body":"round is different than the rest of them."},{"speaker":"Average Joe Finances","startTime":2210.018,"endTime":2215.358,"body":"It's opinion based, but it's, do you have"},{"speaker":"Average Joe Finances","startTime":2210.018,"endTime":2215.358,"body":"a favorite business investing or real"},{"speaker":"Average Joe Finances","startTime":2215.358,"endTime":2218.718,"body":"estate related book or podcast, or both?"},{"speaker":"John Foong","startTime":2220.278,"endTime":2221.148,"body":"Oh, so many."},{"speaker":"John Foong","startTime":2221.218,"endTime":2223.222,"body":"Like you, Mike I love"},{"speaker":"John Foong","startTime":2221.218,"endTime":2223.222,"body":"absorbing information."},{"speaker":"John Foong","startTime":2223.222,"endTime":2226.282,"body":"My favorite thing to do is what I"},{"speaker":"John Foong","startTime":2223.222,"endTime":2226.282,"body":"can settle the kids is go up for"},{"speaker":"John Foong","startTime":2226.282,"endTime":2229.402,"body":"a run and I run very slowly and"},{"speaker":"John Foong","startTime":2226.282,"endTime":2229.402,"body":"I listen to a bunch of podcasts."},{"speaker":"John Foong","startTime":2229.862,"endTime":2230.342,"body":"So."},{"speaker":"Average Joe Finances","startTime":2230.342,"endTime":2230.402,"body":"Yeah."},{"speaker":"John Foong","startTime":2231.337,"endTime":2235.477,"body":"I think some of the"},{"speaker":"John Foong","startTime":2231.337,"endTime":2235.477,"body":"most helpful podcasts I've had is"},{"speaker":"John Foong","startTime":2235.627,"endTime":2237.397,"body":"there's one called The 20 Minute vc."},{"speaker":"John Foong","startTime":2238.042,"endTime":2239.122,"body":"Two zero vc."},{"speaker":"John Foong","startTime":2239.462,"endTime":2243.092,"body":"It's primarily aimed at adventure"},{"speaker":"John Foong","startTime":2239.462,"endTime":2243.092,"body":"capitalists and entrepreneurs."},{"speaker":"John Foong","startTime":2243.572,"endTime":2244.862,"body":"I've actually found it very helpful."},{"speaker":"John Foong","startTime":2244.862,"endTime":2246.302,"body":"They have a bunch of"},{"speaker":"John Foong","startTime":2244.862,"endTime":2246.302,"body":"really interesting guests."},{"speaker":"John Foong","startTime":2246.302,"endTime":2247.772,"body":"They had Simon Sinek the other day."},{"speaker":"John Foong","startTime":2248.022,"endTime":2249.132,"body":"They had Larry Summers."},{"speaker":"John Foong","startTime":2249.282,"endTime":2252.172,"body":"They've had a whole lot of people who"},{"speaker":"John Foong","startTime":2249.282,"endTime":2252.172,"body":"know a lot about different things."},{"speaker":"John Foong","startTime":2252.542,"endTime":2254.432,"body":"But talk out in ways that"},{"speaker":"John Foong","startTime":2252.542,"endTime":2254.432,"body":"help you understand what's"},{"speaker":"John Foong","startTime":2254.432,"endTime":2255.092,"body":"happened with the economy."},{"speaker":"John Foong","startTime":2255.572,"endTime":2258.572,"body":"And I think one of the things I've"},{"speaker":"John Foong","startTime":2255.572,"endTime":2258.572,"body":"enjoyed at investing is, you know that"},{"speaker":"John Foong","startTime":2258.572,"endTime":2261.662,"body":"you have a personal investing story,"},{"speaker":"John Foong","startTime":2258.572,"endTime":2261.662,"body":"a house, a stock that you're doing,"},{"speaker":"John Foong","startTime":2261.842,"endTime":2265.912,"body":"but it's part of a macro story, that's"},{"speaker":"John Foong","startTime":2261.842,"endTime":2265.912,"body":"happening on the specific investing side."},{"speaker":"John Foong","startTime":2266.072,"endTime":2268.862,"body":"There's a podcast, mad Money,"},{"speaker":"John Foong","startTime":2266.072,"endTime":2268.862,"body":"so Jim Kramer's show is just"},{"speaker":"John Foong","startTime":2268.862,"endTime":2270.152,"body":"translated into a podcast."},{"speaker":"John Foong","startTime":2270.542,"endTime":2274.822,"body":"I find the first few minutes of that"},{"speaker":"John Foong","startTime":2270.542,"endTime":2274.822,"body":"very helpful each day because basically."},{"speaker":"John Foong","startTime":2275.432,"endTime":2278.827,"body":"He describes what happened in the market"},{"speaker":"John Foong","startTime":2275.432,"endTime":2278.827,"body":"and why, and sometimes you look, the"},{"speaker":"John Foong","startTime":2278.827,"endTime":2280.337,"body":"market goes up what's going on there?"},{"speaker":"John Foong","startTime":2280.387,"endTime":2281.587,"body":"So I found that very helpful."},{"speaker":"John Foong","startTime":2281.587,"endTime":2285.817,"body":"And there's a organization called The"},{"speaker":"John Foong","startTime":2281.587,"endTime":2285.817,"body":"Motley Fool that do a lot of stock picks."},{"speaker":"John Foong","startTime":2286.077,"endTime":2286.437,"body":"You know?"},{"speaker":"Average Joe Finances","startTime":2286.467,"endTime":2286.767,"body":"Oh yeah."},{"speaker":"Average Joe Finances","startTime":2286.772,"endTime":2288.122,"body":"I get, I'm on their email list."},{"speaker":"Average Joe Finances","startTime":2288.122,"endTime":2288.902,"body":"I get those all the time."},{"speaker":"John Foong","startTime":2289.099,"endTime":2289.459,"body":"Yeah."},{"speaker":"John Foong","startTime":2289.459,"endTime":2290.949,"body":"And they, they're really interesting."},{"speaker":"John Foong","startTime":2290.949,"endTime":2293.349,"body":"They had a interesting philosophy"},{"speaker":"John Foong","startTime":2290.949,"endTime":2293.349,"body":"of investing, which, is"},{"speaker":"John Foong","startTime":2293.349,"endTime":2294.909,"body":"worth considering critiquing."},{"speaker":"John Foong","startTime":2295.279,"endTime":2297.714,"body":"They have a bunch of"},{"speaker":"John Foong","startTime":2295.279,"endTime":2297.714,"body":"different podcasts each day."},{"speaker":"John Foong","startTime":2297.949,"endTime":2301.379,"body":"And I found them very helpful"},{"speaker":"John Foong","startTime":2297.949,"endTime":2301.379,"body":"because they, it's not even so much"},{"speaker":"John Foong","startTime":2301.379,"endTime":2302.399,"body":"Hey, here are the stocks to buy."},{"speaker":"John Foong","startTime":2302.399,"endTime":2302.879,"body":"Go for it."},{"speaker":"John Foong","startTime":2302.879,"endTime":2304.259,"body":"I mean that, that's somewhat helpful."},{"speaker":"John Foong","startTime":2304.259,"endTime":2305.739,"body":"And sometimes right, sometimes wrong."},{"speaker":"John Foong","startTime":2306.129,"endTime":2309.609,"body":"Really important thing is they tell"},{"speaker":"John Foong","startTime":2306.129,"endTime":2309.609,"body":"you about the philosophy, about how you"},{"speaker":"John Foong","startTime":2309.609,"endTime":2311.319,"body":"might think about growth versus defense."},{"speaker":"John Foong","startTime":2311.619,"endTime":2313.804,"body":"They try and relate some of"},{"speaker":"John Foong","startTime":2311.619,"endTime":2313.804,"body":"those macro economic factors"},{"speaker":"John Foong","startTime":2313.804,"endTime":2314.914,"body":"into what you might buy and sell."},{"speaker":"John Foong","startTime":2315.334,"endTime":2318.724,"body":"Because really it is about making good"},{"speaker":"John Foong","startTime":2315.334,"endTime":2318.724,"body":"decisions, but it's about teaching"},{"speaker":"John Foong","startTime":2318.724,"endTime":2319.834,"body":"yourself how to make decisions."},{"speaker":"John Foong","startTime":2320.194,"endTime":2322.144,"body":"And that's why I really enjoyed"},{"speaker":"John Foong","startTime":2320.194,"endTime":2322.144,"body":"those particular podcasts."},{"speaker":"Average Joe Finances","startTime":2322.844,"endTime":2323.564,"body":"No, I love it."},{"speaker":"Average Joe Finances","startTime":2323.569,"endTime":2325.074,"body":"Thank you so much for the for those."},{"speaker":"Average Joe Finances","startTime":2325.124,"endTime":2325.964,"body":"I wrote 'em down."},{"speaker":"Average Joe Finances","startTime":2326.014,"endTime":2327.124,"body":"I'm gonna go check those out."},{"speaker":"Average Joe Finances","startTime":2327.124,"endTime":2329.974,"body":"And yeah, I also like"},{"speaker":"Average Joe Finances","startTime":2327.124,"endTime":2329.974,"body":"to listen to podcasts."},{"speaker":"Average Joe Finances","startTime":2329.974,"endTime":2333.884,"body":"Anytime I'm commuting anywhere or"},{"speaker":"Average Joe Finances","startTime":2329.974,"endTime":2333.884,"body":"if I'm working out my kids hate it"},{"speaker":"Average Joe Finances","startTime":2333.889,"endTime":2336.104,"body":"'cause every time they get in the"},{"speaker":"Average Joe Finances","startTime":2333.889,"endTime":2336.104,"body":"car they're like, dad put on music."},{"speaker":"Average Joe Finances","startTime":2336.104,"endTime":2337.305,"body":"We don't want to hear"},{"speaker":"Average Joe Finances","startTime":2336.104,"endTime":2337.305,"body":"anybody talking anymore."},{"speaker":"Average Joe Finances","startTime":2339.644,"endTime":2339.974,"body":"But yeah."},{"speaker":"Average Joe Finances","startTime":2339.974,"endTime":2341.564,"body":"So John this was awesome."},{"speaker":"Average Joe Finances","startTime":2341.564,"endTime":2342.014,"body":"So."},{"speaker":"John Foong","startTime":2342.164,"endTime":2342.464,"body":"Thanks Mike."},{"speaker":"Average Joe Finances","startTime":2342.494,"endTime":2344.994,"body":"That is it"},{"speaker":"Average Joe Finances","startTime":2342.494,"endTime":2344.994,"body":"for the final round, however, I have"},{"speaker":"Average Joe Finances","startTime":2344.994,"endTime":2347.634,"body":"another question I'm gonna ask you"},{"speaker":"Average Joe Finances","startTime":2344.994,"endTime":2347.634,"body":"because of the conversations that we've"},{"speaker":"Average Joe Finances","startTime":2347.634,"endTime":2349.834,"body":"been having which were phenomenal."},{"speaker":"Average Joe Finances","startTime":2350.234,"endTime":2353.024,"body":"There's people in the audience that are"},{"speaker":"Average Joe Finances","startTime":2350.234,"endTime":2353.024,"body":"gonna say, Hey, I wanna know where I could"},{"speaker":"Average Joe Finances","startTime":2353.029,"endTime":2354.914,"body":"find out more information about John."},{"speaker":"Average Joe Finances","startTime":2355.254,"endTime":2356.629,"body":"And what you're doing and everything."},{"speaker":"Average Joe Finances","startTime":2356.629,"endTime":2359.899,"body":"Do you have a website you could share"},{"speaker":"Average Joe Finances","startTime":2356.629,"endTime":2359.899,"body":"with us or any social media profiles"},{"speaker":"Average Joe Finances","startTime":2359.899,"endTime":2361.699,"body":"people can follow and, and track you down?"},{"speaker":"John Foong","startTime":2362.509,"endTime":2363.754,"body":"Yeah I'm a big LinkedIn nerd."},{"speaker":"John Foong","startTime":2363.994,"endTime":2364.714,"body":"I love LinkedIn."},{"speaker":"John Foong","startTime":2364.784,"endTime":2367.154,"body":"There's a phrase that one of my"},{"speaker":"John Foong","startTime":2364.784,"endTime":2367.154,"body":"colleagues said to me years ago, which"},{"speaker":"John Foong","startTime":2367.154,"endTime":2370.154,"body":"is, your network is your net worth."},{"speaker":"Average Joe Finances","startTime":2370.664,"endTime":2372.404,"body":"Oh, it's"},{"speaker":"Average Joe Finances","startTime":2370.664,"endTime":2372.404,"body":"so cheesy, but it's so true."},{"speaker":"John Foong","startTime":2372.404,"endTime":2373.034,"body":"So cheesy."},{"speaker":"John Foong","startTime":2373.124,"endTime":2375.009,"body":"So cheesy and network"},{"speaker":"John Foong","startTime":2373.124,"endTime":2375.009,"body":"is a few things, right?"},{"speaker":"John Foong","startTime":2375.014,"endTime":2376.274,"body":"It's people who you know directly."},{"speaker":"John Foong","startTime":2376.544,"endTime":2379.059,"body":"It's people who and you might just"},{"speaker":"John Foong","startTime":2376.544,"endTime":2379.059,"body":"contact them in terms situations"},{"speaker":"John Foong","startTime":2379.279,"endTime":2381.349,"body":"and there's people who don't even"},{"speaker":"John Foong","startTime":2379.279,"endTime":2381.349,"body":"know, but you learn from them."},{"speaker":"John Foong","startTime":2381.749,"endTime":2384.299,"body":"I found LinkedIn a very efficient"},{"speaker":"John Foong","startTime":2381.749,"endTime":2384.299,"body":"way to, to address all three."},{"speaker":"John Foong","startTime":2384.299,"endTime":2386.939,"body":"If those are lists out there, particularly"},{"speaker":"John Foong","startTime":2384.299,"endTime":2386.939,"body":"if you are in the property industry"},{"speaker":"John Foong","startTime":2387.099,"endTime":2388.599,"body":"you know where, that's my day job."},{"speaker":"John Foong","startTime":2388.759,"endTime":2390.349,"body":"I'm very interested in"},{"speaker":"John Foong","startTime":2388.759,"endTime":2390.349,"body":"connecting on LinkedIn."},{"speaker":"John Foong","startTime":2390.539,"endTime":2392.219,"body":"If you are creative"},{"speaker":"John Foong","startTime":2390.539,"endTime":2392.219,"body":"content, please let me know."},{"speaker":"John Foong","startTime":2392.224,"endTime":2393.809,"body":"I'd love to follow you and learn from you."},{"speaker":"John Foong","startTime":2394.029,"endTime":2396.844,"body":"But yeah, LinkedIn is great and"},{"speaker":"John Foong","startTime":2394.029,"endTime":2396.844,"body":"I, that's actually my newsfeed."},{"speaker":"John Foong","startTime":2396.844,"endTime":2398.344,"body":"It used to be Facebook,"},{"speaker":"John Foong","startTime":2396.844,"endTime":2398.344,"body":"used to be Instagram."},{"speaker":"John Foong","startTime":2398.349,"endTime":2401.014,"body":"Now my newsfeed is when I was time"},{"speaker":"John Foong","startTime":2398.349,"endTime":2401.014,"body":"I just looked at LinkedIn and what"},{"speaker":"John Foong","startTime":2401.014,"endTime":2402.874,"body":"are my friends and network doing"},{"speaker":"John Foong","startTime":2401.014,"endTime":2402.874,"body":"and what can I learn from that?"},{"speaker":"John Foong","startTime":2402.964,"endTime":2404.194,"body":"So please connect with me on there."},{"speaker":"John Foong","startTime":2404.374,"endTime":2410.524,"body":"It's John, JOHN Foong, FOONG and I work"},{"speaker":"John Foong","startTime":2404.374,"endTime":2410.524,"body":"for a company called domain domain.com.au."},{"speaker":"John Foong","startTime":2410.544,"endTime":2413.304,"body":"We're a property portal in Australia,"},{"speaker":"John Foong","startTime":2410.544,"endTime":2413.304,"body":"but that's how to find me on LinkedIn."},{"speaker":"Average Joe Finances","startTime":2414.174,"endTime":2414.534,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2414.534,"endTime":2415.014,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":2415.014,"endTime":2418.044,"body":"So I'll make sure we have that"},{"speaker":"Average Joe Finances","startTime":2415.014,"endTime":2418.044,"body":"in the show notes to make it easy"},{"speaker":"Average Joe Finances","startTime":2418.044,"endTime":2420.894,"body":"for people to just copy and paste"},{"speaker":"Average Joe Finances","startTime":2418.044,"endTime":2420.894,"body":"or click away and follow you."},{"speaker":"Average Joe Finances","startTime":2420.894,"endTime":2422.694,"body":"I'm just asking all my"},{"speaker":"Average Joe Finances","startTime":2420.894,"endTime":2422.694,"body":"listeners, don't do it."},{"speaker":"Average Joe Finances","startTime":2422.724,"endTime":2424.344,"body":"If you're driving, please wait till you,"},{"speaker":"John Foong","startTime":2424.344,"endTime":2425.124,"body":"please don't do it."},{"speaker":"John Foong","startTime":2425.344,"endTime":2425.804,"body":"Not safe."},{"speaker":"Average Joe Finances","startTime":2426.334,"endTime":2427.744,"body":"John,"},{"speaker":"Average Joe Finances","startTime":2426.334,"endTime":2427.744,"body":"this has been phenomenal."},{"speaker":"Average Joe Finances","startTime":2427.774,"endTime":2432.204,"body":"I wanna thank you again so much for"},{"speaker":"Average Joe Finances","startTime":2427.774,"endTime":2432.204,"body":"taking the time outta your day tomorrow"},{"speaker":"Average Joe Finances","startTime":2432.564,"endTime":2434.394,"body":"to have this conversation with me."},{"speaker":"Average Joe Finances","startTime":2434.399,"endTime":2435.263,"body":"I really appreciate it."},{"speaker":"John Foong","startTime":2435.778,"endTime":2436.258,"body":"That's right."},{"speaker":"John Foong","startTime":2436.288,"endTime":2437.218,"body":"The future is bright."},{"speaker":"John Foong","startTime":2437.278,"endTime":2440.458,"body":"I can say that coming from the future now,"},{"speaker":"John Foong","startTime":2437.278,"endTime":2440.458,"body":"seriously, thank you Mike, and thank you"},{"speaker":"John Foong","startTime":2440.458,"endTime":2442.258,"body":"for the great service that you have made."},{"speaker":"John Foong","startTime":2442.348,"endTime":2444.728,"body":"Number one service to, the"},{"speaker":"John Foong","startTime":2442.348,"endTime":2444.728,"body":"world and America, through"},{"speaker":"John Foong","startTime":2444.733,"endTime":2445.783,"body":"the decades you spent there."},{"speaker":"John Foong","startTime":2445.783,"endTime":2449.363,"body":"But, you play an equally important"},{"speaker":"John Foong","startTime":2445.783,"endTime":2449.363,"body":"service now in helping people get through"},{"speaker":"John Foong","startTime":2449.543,"endTime":2452.873,"body":"difficult stuff, which is the stuff of"},{"speaker":"John Foong","startTime":2449.543,"endTime":2452.873,"body":"life and marriages and all those things."},{"speaker":"John Foong","startTime":2452.873,"endTime":2455.364,"body":"So it was wonderful to get to"},{"speaker":"John Foong","startTime":2452.873,"endTime":2455.364,"body":"know you and your podcast and"},{"speaker":"John Foong","startTime":2455.369,"endTime":2456.143,"body":"thanks for you're doing out there."},{"speaker":"Average Joe Finances","startTime":2456.673,"endTime":2457.933,"body":"John,"},{"speaker":"Average Joe Finances","startTime":2456.673,"endTime":2457.933,"body":"thank you so much for that."},{"speaker":"Average Joe Finances","startTime":2457.933,"endTime":2461.403,"body":"And the future is bright and I can't"},{"speaker":"Average Joe Finances","startTime":2457.933,"endTime":2461.403,"body":"wait to get to tomorrow where you're at."},{"speaker":"Average Joe Finances","startTime":2461.403,"endTime":2462.183,"body":"Again, thank you."},{"speaker":"Average Joe Finances","startTime":2462.183,"endTime":2465.393,"body":"And I also wanna say thank"},{"speaker":"Average Joe Finances","startTime":2462.183,"endTime":2465.393,"body":"you to all of my listeners."},{"speaker":"Average Joe Finances","startTime":2465.583,"endTime":2468.583,"body":"Thank you so much for joining me"},{"speaker":"Average Joe Finances","startTime":2465.583,"endTime":2468.583,"body":"and our special guest, John Fong,"},{"speaker":"Average Joe Finances","startTime":2468.853,"endTime":2471.073,"body":"on the Average Joe Finances Podcast."},{"speaker":"Average Joe Finances","startTime":2471.403,"endTime":2473.743,"body":"Go leave us a five star review"},{"speaker":"Average Joe Finances","startTime":2471.403,"endTime":2473.743,"body":"and tell us what you liked"},{"speaker":"Average Joe Finances","startTime":2473.743,"endTime":2476.203,"body":"about today's episode with John."},{"speaker":"Average Joe Finances","startTime":2476.473,"endTime":2479.293,"body":"Aloha from Hawaii and have"},{"speaker":"Average Joe Finances","startTime":2476.473,"endTime":2479.293,"body":"a great rest of your day."}]}