Episode 22: Pete Wargent
On this episode:
My guest for this episode is Pete Wargent of Petewarget.com.
Pete is one of Australia’s leading property economists and investors, a best selling author and blogger. Having reached financial independence at 33, Pete is now a regular on TV and splits his time between the UK and Noosa.
From the outside, Pete’s journey seems to include success after success. However, as you’ll discover in this conversation Pete’s journey included many ups and downs, hard work and sacrifice.
I know you’ll enjoy this episode of The Australian Investors Podcast with Pete Wargent.
- 0:00 – Why Pete has written a new book for parents and teens “Wealth Ways For The Young”
- 6:00 – Pete’s early life and growing up in South Yorkshire (9min)
- 16:00 – Assets are more important than income, Pete finds this out after looking at the ‘personal’ balance sheets of rich clients and the investments of her now wife
- 18:00 – How Pete met his wife at work
- 24:00 – Dealing with anxiety, panic attacks and pressure, and what was holding him back
- 31:00 – Is the best investment a great partner?
- 32:00 – Knowing what your personal assets and liabilities are and mean for your future
- 35:00 – How Pete learned how to invest in shares, index funds and property
- 40:00 – Pete’s cleanse before he began to invest and a goal of 10 properties in 10 years.
- 43:30 – Why is property the best investment for the average investor?
- 46:00 – Do you really want to own property? Start with ‘Why?’.
- 53:00 – Why a focus on quality works
- 57:00 – two ways to get in trouble – buy off the plan or buy a property in a bidding war during a strong market
- 1:03:00 – Start investing outside of property
- 1:04:00 – Independent by 33, does that mean mortgage free? Pete’s $3 million target.
- 1:06:00 – Don’t start your day off looking at emails, that can set you off on the wrong foot for the day
- 1:10:00 – Why Australian property can’t continue outperforming shares (as a whole)
- 1:15:00 – What’s Pete’s outlook for the next two years? Is it as bad as it seems? Note: Supply-responsive suburbs/markets are almost always hit the hardest.
- 1:20:00 – Pete’s answer to what he would tell a younger him: “start now and surround yourself with positive people”