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The average Australian retires at 67 with $400,000 in

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super. That's barely enough to last 10 years, let alone fund the life

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you actually want. But there's a small group of Australians who

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do retire at 55, not just comfortably, but

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with income-reducing assets that continue to pay them every single

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month. My name is Lloyd J. Ross, seven-figure investor and entrepreneur, and I've helped thousands

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of everyday Aussies get out of debt and build real wealth. And in this

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video, I'm going to show you exactly what those assets are,

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how to build them, and the one thing you need to do right now to retire

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12 years before everybody else. Before

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we do that, let's look at the problem with superannuation. I'll

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be blunt. Superannuation definitely is the most tax-advantaged wealth-building vehicle

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most Australians will have access to, for sure, right? The contributions are

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taxed at 15%, meaning you get a tax deduction when you add money to

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it to a certain amount, roughly about 25k a year. And

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then the actual investment earnings are taxed at a lower amount. In

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fact, half of the typical amount, any income. And then for

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tax, the capital gains are tax-free, right? So

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the government's handed everyone a compounding machine with a massive

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tax discount. That's effectively what superannuation is. If you want

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to learn more about super, go back and watch one of the episodes I did specifically on superannuation.

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But here's the problem. Super is not a

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retirement vehicle for a person who wants to retire at 55 because

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the preservation age for anyone born after July 1964 is 60 which

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means you cannot touch it before then without severe penalties

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and There's hardship conditions. You're gonna meet etc. So

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super is slow and it's locked up and controlled by

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government rules. So if your entire strategy is built around your

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super balance, you're going to mathematically guarantee that you'll be

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working until after 60. So if you want to retire

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before 55, you need a completely different strategy.

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So here are the three assets that you need

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to build to be able to retire at 55, okay?

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Now if you're younger and you're watching this, kudos, that's amazing. You

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have a huge advantage of time, all right? But bear with

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me as I go through these strategies because it does apply to everyone and

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anyone. And then I'm gonna explain to you an example and then go

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to give you a bit of an indication of how I treat retirement. So

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three assets you need to build. So to execute this strategy, you need to

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focus on three specific types of assets outside the super. When

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you retire and you get, say, $400,000 in super, or whatever it might be, that's great.

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And you may be more than that. And that's a lump sum of asset that

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needs to be invested accordingly as well. So is part of it. But

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to execute this strategy, you do want to focus outside super as

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well. And what you'd want to be doing is, you want to be building a

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share portfolio in a taxable account. In some sort

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of index fund, or you can buy individual shares, you have to

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know what you're doing. But you want to buy it in some sort of index fund. And you want

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to start as early as you can. And even if you started at mid-30s,

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for 20 years, you can compound up to a million bucks. You

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can, especially if you're starting with a reasonable lump sum instead of buying other

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things. It's totally possible to do. But

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most people just don't take the step because they wait too long. So for

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example, they'll, at 35 or whatever it might be, they go, oh, I've got

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ages. I'll wait till I'm 50 to start worrying about my retirement. And that's

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the real problem. You can't wait till you're 55. to

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want to retire at 55. But I do see a lot, like, I'm 55, I want to retire

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now, what do I do? I'm like, that was a conversation you should have with yourself at 35. The

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simplest thing to do is in your 30s,

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or like, it just doesn't, just do it. It doesn't matter what

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age, it just means go and start, is to build a

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share portfolio in a taxable account, outside super. So you've got kind of

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two running together, right? The next one, this is

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a very important one to amplify your ability to make

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income and I would say that almost all of the people I know who have retired

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at 55 in some form or another have had

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a business, right? A business with real cash flow. Not

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just a little side hustle where you're selling macaroons at the local market. It's like something

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that can really generate cash flow, yeah? Whether

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it's a traditional type of business or whether it's an online business, a

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well-run business can return 20, 30 or 40% on invested capital, right?

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It can produce substantial returns but most importantly, it gives you

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a lot of flexibility. Flexibility to amplify your income, flexibility

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to step out of jobs you don't like, flexibility to skill up, flexibility

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to add income streams and to deploy that cash how you feel fit,

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right? And potentially work from home, drop some costs like what I do. So

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a business is a wealth building

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machine in the sense that it really amplifies your

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income. And if you look at the wealthiest people in the world and those that did

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retire at 55 and have, it's business that generates that without

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a doubt. Like it's such an integral

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part of the wealth building process. And I think when I

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say business, people get a bit scared because we have, we have

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been conditioned. by

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whoever, banks to limit exposure and risk, whatever it is, to think

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that all business purely is risky. Because, you know, someone like Tony Robbins goes, well,

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you know that 80% of businesses fell in the first five years. It's

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not that they failed. For most businesses, if

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you really work hard on them, you're not going to fail on them. Like, you'd

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be shocked and surprised to how many flipping half kind

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of like, semi-retarded people make

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money in businesses. You can do it. It's not overly risky,

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it just carries a bit more risk. But so does employment, by the way. Who's

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to say you can't get chopped at your work? Like, that's risky,

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but they never talk about that risk, do they? Because it doesn't serve the narrative. If I

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think about my grandparents, give you an example here. Now,

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they didn't retire at 55, but I do believe they retired at

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early 60s. And so it's not too far off the mark.

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But here's an example. didn't come from any money, poor,

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you know, gone into bankruptcy a couple of times, or once, certainly, but

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they, in their 40s, they bought their first country pub, okay? And

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the person they wanted to buy it off said they didn't have the capacity to run it and blah, blah, blah. But my grandfather

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said, I'm going to do it anyway. And so they ended up buying a pub. And

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actually, the first six months of my life, I spent in this pub. And

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it's actually in a place called Atunga, New South Wales, the Atunga Pub. I

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lived for the first six months of my life in there, because my dad was building another house, and

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we just stayed there. And then they bought another one and another one. Anyway,

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they went back into some farming that had some challenging seasons, sheep farming, and

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they sold that sheep farm and they went back and thought, you know what, let's stick to our knitting

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and we'll go back into a pub. Now, in their 50s,

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just to give you the indication, my grandmother, she's 91. She told

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me this story the other day when I was visiting her. She said you know when

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we're in our early 50s. We took a $400,000 loan this

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isn't like 1991 or 1990 think about that a

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$400,000 loan in 1990 that's like equivalent to probably like one and a half

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million or two million like it's a lot and in

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their early fifties and they bought a country pub in Baraboo, New

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South Wales for that price and they did it up and they ran it and

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they built up the equity and it generated income that paid off the debt and

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they ended up selling that and buying two additional pubs with free cash flow that

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funded their retirement and both of them retired in their sixties until

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what? God, my grandmother's now is 91. What's that, 30 years

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or certainly 20, good 25 years and So

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they swung at a business, like you can see, like even

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though they did it with debt, it's the business that can generate income, right? So

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of course, you're going to have super, of course, you're going to have some shares in a taxable account, definitely,

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but don't turn your nose up at a business, okay? Just quickly, if you're ready

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to take control of your finances but feel stuck on where to start, I

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have a solution. My book, Money Bias Happiness, simplifies

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investing and wealth building with practical steps to help you achieve financial

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peace. Get your copy via the link in the show notes and let's get your

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money working for you. Now, back to the episode. And the third one

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is, of course, and people have done it a lot, is of course a property investment. Yeah,

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particularly over the last, God, 20 and 30 years, we've had the greatest

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bull running property ever in Australia and many other Western

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markets, right? Because it produces cash flow. So

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long as you don't form the trap of accumulating so

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many of them that you're not carrying any equity, you're

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carrying just debt. So when you turn 55, you're like, oh, I've got 10 properties, but

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you're not producing any cash flow because all the money's going to debt repayment. And you've got maybe, I

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don't know, 25% of that is equity. Then you've got to sell them

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all. but do it within reason. The ones that I've seen

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that effectively over time paid off a mortgage because they bought in

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the 80s and 90s when it was three times annual income, they stayed

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in it. They then used some equity and paid off a property at

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a time. But they did it in a way that generated free

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cash flow. And I think if you look at property investing of

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yonder year, it was better when it was free cash flow. And Sharon Lecter, who's the

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co-author of Rich Dad, Poor Dad, the greatest personal

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finance book in history, Her and Robert Kiyosaki wrote that

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book in the early 90s, and she came on the podcast. I go back

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and listen to the show with myself and Sharon, and she told me that Robert

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Kiyosaki built the cash flow board game because he found out a way in

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the late 80s, early 90s to buy enough property to generate

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100 grand a year in free cash flow and income. That's why he built the game cash

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flow. That's why it's heavily into property. They

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wrote the book, Rich Dad, Poor Dad, as a brochure to sell the

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board game, if you didn't know. And what's interesting about

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that is that worked back then because you could enter very, very

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cash flowing property, but you can't do that

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now. You can do it in some respects, but not as easy because it's

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like three times more expensive against incomes. So this

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type of strategy must change. And that's why, you know, it's probably more

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astute to go business and shares than it is property. because

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it is cumbersome on capital to acquire property right now.

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So I think of these three options, the first two are the most effective to

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retire at 55. Here's the reality. People

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want to retire at 55, and they have this vision in their mind

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that, oh, I can see myself at 55, I'm sitting on a beach. I'm at

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a beach somewhere. Fine. Not working, because you don't want to

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really be in that shitty job you don't like. You don't want to be there. I totally get

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that. So you have this vision, I want to retire. But

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here's what happens. They haven't done any of the groundwork. educate

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themselves in shares. They haven't put

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money away. They haven't even started a business. They have no courage to

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start a business. They haven't bothered to delve into it. They don't like work. There's

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just been no groundwork for that. So

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it's where the expectations are here, but the reality of

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what you're doing to meet that expectation is down here. So there's this huge

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gap. And I really do think people are moving towards a mirage.

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It's just not real. You can say that all

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you want to retire at 55, but the truth of the matter is, you're taking no

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steps to get there. So it's just like

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a mental masturbation. It's a fantasy. And

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I see it a lot. There's so many people who are coming into

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this age, their super's not going to save them, and they're just like, oh,

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now can I retire? You know, the

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numbers are to retire, I would say comfortably and do things

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you want to do. You probably want to be making at least 150K a year income,

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but let's call it 200 because inflation. So say 200, really

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to have a really good one, right? Now, again, you may argue against that, but if

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it's 200 divided by 0.05, it's $10 million at

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a 5% dividend rate or interest rate

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on that to give you passive income that doesn't affect the capital. $10,000,000. Do

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you have $10,000,000? Do you have half a million? Do

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you have a million? There's a disconnect. There's a disconnect. And

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you might be thinking, flip neck Lloyd, like I'm watching this and I'm 50 and you're telling me

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I can retire at 55. And yes, I can see the disconnect now. Thank you very much. Like

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that sucks. What do I do? Here's the answer. Here's

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the answer. Forget about retiring. Retirement

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is this narrative that banks create to sell mortgages and

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old people's homes. It's

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almost like a senior rite of passage to retire. I don't know

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if it's a good thing. And I think when people say they want to retire, what

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they're really saying is, I don't like my job. I don't like the people I

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work with. I don't like the commute. So

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they're running away from the pain. I get that. But that doesn't mean

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you've got to retire because I have also seen people do that,

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leave those things with enough money, by the way, to do it, and

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then die a few years later because they have no purpose. They have no structure.

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What's interesting about this too, my mom's retired. She has a house paid off. She

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has about 1.5 mil shares. She does

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okay. It's

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the type of retirement you want to create for yourself, okay? So,

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I would say the gauge rod between someone who just wants to retire and

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never work would be the minimum would be house paid

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off and one to two million dollars in a portfolio that produces passive

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income and keep your costs low, right? So, it's not

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like European cruises every five minutes. That's a real scenario. That

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is achievable for most people if you lay the groundwork. But if you're kind

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of aging, you have not laid the groundwork, then

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I think this part is really important for you to understand. If you can delete

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that word retirement from your vocabulary, I think you'll just live a

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better life because you'll go, okay, well, if I can't retire, what

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can I do for the next 20 years of my life where I will work, but

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I can do it in a way to work in an area I want to work with, work with people I

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admire and want to work with, and in a way that doesn't burn me out in my health.

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Generally speaking, you'll find a business that enables you to do that because not all

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businesses are about doing 60-hour weeks. Some businesses

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can just let you find rhythm and work with yourself. You

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can, but you're not going to do it if you've got this notion in your head you

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must retire at 55 or 65. You're better off to say, if

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I was not going to retire today, What would I have to do to be able to work

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for the next 20 years with some joy? And that's a better question

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to ask and a better conversation. And while you're doing that, one

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of the other things that will happen to you is you may meet, if you're someone who's single, you may meet

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a partner who can join that mission. And all of a sudden, you know, two forces

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are greater than one and you can come together, right? But I

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think you're doing yourself a disservice if you haven't laid the groundwork for

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retiring at 55 or 60, right? Expecting to

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and then putting in your own mind that you must. That's

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just, it's just going to wreck you mentally. So I

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would say cancel the word retirement from your vocab and

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find a way you can continue to work and build wealth sensibly over

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time to do that. And by the time you get to

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75, then you will probably be in a position where you can. And so I would say don't

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delay. Start doing what you do now if you had to work for the rest

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of your life. You won't want to retire. I don't think my

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dad will ever retire. I don't think I'll retire. And

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do what? What am I gonna do? Go

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on a cruise for two weeks, sit on the beaches, you'll find that's not the answer either, right? So,

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each to one's own, but I hope you understand now that there's

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a foundation must be laid for 55, and then the options on the table,

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and there must be then a solution created in your mind as to what

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you're going to do if you haven't laid the foundations. Both work. You

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choose which one you're going to adopt. And I'd love to know in the comments, what did you take away the

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most from this episode? hit the subscribe button, send this to a friend

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or someone who needs to hear it. There are two options to go with here. You choose

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yours, but we have to cast them in reality. And

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that's what I'm all about, is the reality of financial education and realness

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when it comes to numbers and what's going to be real and achievable for you. See you

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in the next episode. Thanks for listening to Money Grows on Trees. If you enjoyed the

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episode, leave a five-star review on Apple Podcasts and Spotify and

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subscribe to us on YouTube so you never miss an episode. And

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if you're serious about building wealth, make sure to check out the links in the show

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notes and follow me on all social media platforms at