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Buying and selling crypto and trading it, it's one of the worst things you

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can do and you will just send yourself insane or broke or

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worse, both. Over leveraged property is not an

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effective means for your capital. And in a lot of cases, it's going to

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actually take a lot more cash flow from you each week than give you. The average Aussie

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has student debt of $27,000 and 12% believe they'll never

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pay it off. Congratulations, you're neo-educated and you're broke. It's more of

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an emotional decision than an investment strategy because it's hard to scale.

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You can't determine it. It's a bit of a guessing game. And in my experience, it's

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like, it's a very hard one to win. It's better to be rich than look rich. Here's

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the savage truth with that one. So if you financed your drip, you didn't invest in style,

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you financed your insecurity. I'm Lloyd James Ross, seven

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figure investor and entrepreneur, and I've helped thousands of business owners and

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professionals turn financial stress into success. If

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you're stuck in old money habits, overwhelmed by investing, or unsure where

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to start, this is for you. I'll give you the mindset and

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strategies to take control, grow your wealth, and achieve financial

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freedom. It's time to make your money work for you. Here's

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the top 10 worst assets. You

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can invest in it in under 15 minutes. This is going to be juicy. Get your pens ready

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to go. This is going to be highly, highly valuable

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and very quick. So buckle up. First one, number one of

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the 10 worst things you can buy in terms of assets is, you guessed it,

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a brand new car. It smells like success until you check your

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resale value. A new car drops 10% to 15% in

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value as soon as you drive it off the lot. and up to 30% in

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the first year, okay? So, it's a

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very bad idea to buy a brand new car, right? He

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didn't invest, you emotionally impulse buy it. Impulse

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buy it? You emotionally bought on impulse, okay?

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You bought on impulse to get the big red ribbon around the car to put

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on social media, tell your friends you got a brand new car, right? You just wanna smell the

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new leather trim. That's not really a flex, it's draining your

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wealth one monthly payment at a time, especially, especially, if

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you have borrowed the money to buy it. The way around that

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is to go to a car yard, a very reputable car yard

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and buy one that's three years old and you'll save a lot of money and depreciation quickly.

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That's the way out of that one. Second worst asset you

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can buy, timeshare. Someone

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in our team asked me, she went on a holiday with her family. She

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came back and said, Lloyd, you wouldn't believe it. It's so exciting. I bought a timeshare. I'm like, no. Anyway,

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she got a deposit back. Here's why, right? They say it's guaranteed holidays but

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really it's guaranteed regret. Be careful I don't beat up

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too many businesses. I love businesses and I really go for it if

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you're a timeshare people, if you think the model is good but my experience of

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that has been the resale value is not so good so you can Often

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when you resell timeshare and to explain what timeshare is, it's where you buy into

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like a syndicate to own a piece of real estate with other

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people where you can holiday there occasionally. They

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get you on the lifestyle but the reality is you don't really go there that

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much so you don't really use it that much and also if you

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don't use it, you feel guilty by not using it and also compels you to one holiday destination

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for the rest of your life. you end up paying the fees

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to own it when you're not really using it. And if you add up the fees, it's

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actually cheaper just to go to a new resort every year than actually own a timeshare.

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And the reality is they don't grow in value that much. In fact, they go down

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in value a lot. So sometimes when

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you get into it, you can't get rid of it. And I don't know anyone that's

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had a great experience with it. So I would suggest to you if

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you go to a nice holiday destination, they put you in the room and they show you the

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presentation, just Leave. All

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right. It's not a getaway. It's a financial trap with ocean views. All

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right. So, number three, worst asset you can buy. I

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know this one well because I've done it. All right. Degrees with

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no ROI. Congratulations. You're neo-educated and

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you're broke. All right. The average Aussie, check this out. has

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student debt of $27,000 and 12% believe they'll never pay

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it off. So imagine borrowing the money to get an education and

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the education is not even helping you to get ahead. That's what's happening at scale

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in our country. Here's the savage truth about that. You

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spent 4 years and 5 figures to find yourself but

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if it doesn't boost your income, it's not really an asset, it's more like a diploma in financial denial,

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right? Because you're like, I did that but it really didn't help me move forward.

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So you want to just get around that by doing practical education instead

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of academic education. So practical instead of academic,

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that's the difference. Okay, number four, worst things you can buy when

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it comes to assets, luxury fashion, especially bought on

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credit. I mean, luxury fashion just in general. Do you know how cheap

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they make those clothes? Recently, what happened, there was a lot of vendors

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in China and they came out openly on TikTok. Red

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note and they showed people that they're making all these designer handbags for so

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cheap and it literally exposed the absolute ripoff that

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luxury brands are and People for the first time only discovering this

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which is pretty wild because it's been happening for many many many many many decades All

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right, so Avoid luxury

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clothes altogether, right if the tags are a flex I then

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you're doing it wrong, right? It's not really a flex, it's just showing people

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that you think you're rich, okay? So you can't really even

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resell those luxury items generally.

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So just be aware that It's

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better to be rich than look rich, okay? So here's

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the savage truth with that one. You're not wearing wealth, you're wearing payments,

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especially if you put it on after pay or Klana, all right? So

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if you financed your drip, you didn't invest in style, you financed your

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insecurity. You're financing your insecurity. Isn't

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that a cool way to put it? All right, cool. The fifth asset to avoid when

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it comes to investing is this one. And you will hear me a lot on

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Instagram and Facebook and everything like that. I'm sure you've heard me say it before. I'm

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leading an anti-property rebellion. And that's really weird because

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my whole background was property for a long time. And what I've noticed is

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that over leveraged property is not an

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effective means for your capital. So you have to be very careful that

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property doesn't take more from you than what you get. Nice views,

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zero liquidity, and difficult to refinance if it falls. People

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only have experienced recently property going up, right? And so you

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have to be very careful because if you got a lot of debt on it, it's going to

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sap your cash flows. And in a lot of cases, it's going

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to actually take a lot more cash flow from you each week than give you. And

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this is how sometimes certain property investments can be terrible,

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terrible, terrible assets to own and you'll end up just selling it.

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It's got to be done correctly. And right now, to be frank, I can't see any

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market in Australia or many other areas of the world where you're getting good deals

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in property. So the best thing to do for now is probably just avoid it.

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All right. So the bank is making the money, not

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you. Just quickly, if you're ready to take control of your finances but feel

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stuck on where to start, I have a solution. My book, Money

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Buys Happiness, simplifies investing and wealth building with

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practical steps to help you achieve financial peace. Get

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your copy via the link in the show notes and let's get your money working for

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you. Now back to the episode. Next one, number six. of

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assets that you shouldn't touch and shouldn't buy and shouldn't invest

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in. Number six of the worst things you can buy. This is up there with like,

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if you've been following me for a long time, this is, you'll know this. I

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hope you do by now anyway. People make fun of me about it, but

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it's crypto and NFT. Now, NFTs are really interesting. They're non-fungible

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tokens. There's actually a very good functional use for them. And

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I think you're gonna see a lot of adoption of NFTs in society, but

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just because, You adopt the technology doesn't mean it's worth anything, right?

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It's like saying I'm gonna invest in the internet. I'm like, what does that even mean? it's

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just the infrastructure and crypto by and large is probably

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the same because when people say crypto what they mean is like a

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decentralized uninflatable currency in the blockchain which

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is blockchain is a wonderful technology of open-book accounting and I'm

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sure a lot of assets will be tokenized and go into a blockchain accounting system.

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And without a doubt, I agree, we do need a currency that can't be

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inflated and manipulated. However, that's not what people are

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using crypto for. What they're using it for is pump and dumps,

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actually. And so when you're buying and selling crypto and trading

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it, it's one of the worst things you can do. And you will just send yourself

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insane or broke or worse, both. And

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so, you know, you look at some of the crypto coins and so forth, they're

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like just getting smashed. It's up and down, right? NFTs, some

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of them, my brother bought a llama, we always joke about it. I said, how much is

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your llama worth? And he bought it. When NFTs were going off,

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going up in value, he's like, it's gonna be worth heaps. And it's like worth like a dollar. And

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so some of them went from like 10 million, 20 million down to like zero. So

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it's just, they just aren't worth anything because

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there's no intrinsic value. They've got no real, value

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to society, which means they're not really worth putting your money into, okay? So

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the savage truth is you didn't really huddle, you panicked. And if you bought at

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the top, you probably sold at the bottom and you're gonna play that game forever. You weren't really investing, you

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were gambling, okay? That's really what you were doing. All right, number seven, when

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it comes to the worst assets of the 10 you can possibly buy,

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penny stocks, all right? They said it was the next best thing. It's

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the next Tesla. It's the next this. But the reality is, it's a bit of a

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pump and dump. And someone you know probably gave you a bit of a stock tip.

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And the reality is, it's not very liquid. It's highly volatile. The

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businesses are usually not making any money. It's highly speculative. And

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it very seldom works out. Because even if it does well in the short term,

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like you're pumped up, you'll get greedy and not sell it. And then it'll fall

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back down. You'll just play this mental game in your head until you just get over it.

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And you'll just exit. And you'll probably exit with less money. So

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the best thing to do is to avoid penny stocks like just don't even

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touch it, not worth your time. You'll

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hear stories of people doing really well and they'll tell you when they do really well but

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the truth is like if it came from, I shouldn't say YouTube

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because I'm on YouTube now but Reddit or some sort of friend stock

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tip and haven't really done that well in life, then

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you're going to get played probably. So avoid that. All right, number eight,

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I've got firsthand experience of this, so does my dad. Over

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the years, at different charity auctions, we've happened to have bought sports

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memorabilia. You get caught up

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in the moment, especially when it's for charity. Sports

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memorabilia goes down in value so much, right? And

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you have these sort of dreams that

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you want to be closer to your heroes. So you frame your childhood dreams, but you

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freeze your cash flow at the same time, right? So most sports collectibles, they

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hold sentimental value, but they don't really hold market value, right?

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They can appreciate, especially in market booms, but

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the truth is most of it goes way down. Like even

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the stuff you think is really good goes down. My

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dad had this boxing glove and it had all the 12 heavyweight champions of the

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world who signed it. I'm talking like Mike Tyson, Evander Holyfield, George

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Foreman, Muhammad Ali. Amazing, right?

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It's not worth much now. It's ridiculous when you think about that, because all the world

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champions. There's very few sports memorabilia

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items that actually go up in value. So there are some

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but it's best to avoid those. Does that make sense? It's more of an emotional decision

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than an investment strategy because it's hard to scale. You can't determine it.

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It's a bit of a guessing game. In my experience, it's a

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very hard one to win. You got to

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physically do stuff too. Number nine, when it comes to the top

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10 worst assets to buy, home renovations that don't add value. Pinterest

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inspired you, Zillow didn't. The average home renter returns only

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56% of its cost at resale, if that. Kitchens

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and bathrooms and so forth. I've

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seen this firsthand so many times where you go, you know what, I'm going

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to add a bathroom, I'm going to do this, I'm going to add that carport, I'm going to do that. The

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reality is quite often, it doesn't

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always get reflected in the new valuation unless there's a really fast rising

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market. And even then, you can only realize it when you sell the property. So

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you build your dream aesthetic but you're really not really building your dream bank

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balance. If the renovation doesn't really pay you back, it's

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more of an ego and a status thing. than

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an investment. And it can be an absolute hole for your money. You

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can just chuck it in there and you just don't realize it again. And it's emotional. You can get

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kind of like caught up in the emotions of it all, right? And number 10, the

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last top asset not to purchase is

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expensive furniture. It's a velvet couch, but it's still not

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passive income. Most furniture, here's

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the stats, depreciates by about 40-60% the moment it

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leaves the showroom. Almost nothing resells for more than

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30% of its value. It's just brutal. So you buy

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all this nice furniture and it's just worthless. And you see this

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a lot because people put their furniture on the street to give it away when

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they're done. They're like, all right, just take it. I've had a piece of furniture, I

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actually think it sells somewhat on Facebook marketplace for a little bit, but I've had

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furniture where I've just had put an ad

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just come and get it from me. That's what it's like, right? You

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try and buy statement pieces on ZipPay, but the statements don't build

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any wealth. Unless it's cash or has

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cash flow and appreciates, it's just a financial set

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dressing. That's really what it is. So they're the top

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10 assets that I would tend to avoid if you want to make your

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life easier, more pleasant, more financially secure, and

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scale your money without scaling your problems, all right? Because we don't want more problems, we

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want more money. And avoiding these things will

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do both for you, which is what I want. So if you've enjoyed the episode, send

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this to a friend, hit the subscribe button, leave us a question or comment. What was your favorite

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are one to avoid, which one, or actually tell me this, which

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one have you actually bought that you regretted? I would love to know, pop

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in the comments below. And of course we have comments on Spotify as well. But

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I hope you've enjoyed that episode. It was a lot of fun to deliver that one. It's quite funny when you go through them

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all and see how many bad things are actually out there that you just simply avoid.

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And sometimes avoidance is the best strategy you can make when

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it comes to scaling your money. Thanks for listening to Money Grows on Trees.

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If you enjoyed the episode, leave a five-star review on Apple Podcasts and

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Spotify and subscribe to us on YouTube so you never

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miss an episode. And if you're serious about building wealth, make sure to

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check out the links in the show notes and follow me on all social media

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platforms at LloydJamesRoss for more. See