# 22 - How to create wealth off your farm and generate money while you sleep

"HOW TO CREATE WEALTH OFF YOUR FARM AND GENERATE MONEY WHILST YOU SLEEP”  “Don’t work for money, make it work for you” – Robert Kiyosaki   Transcription:   Andrew: Welcome to this podcast and we have a special guest on here today, Terry Tran. I want to firstly make sure you can hear me okay Terry?   Terry: I can Andrew.   Andrew: Welcome mate. Thank you very much for coming on board the ‘Profitable Farmer Podcast’, sharing your story and educating our farmers about investing and creating freedom and wealth off their farm.  Terry, let's just take a step back. I'd love to share with everyone how you and I met. I was trying to contemplate our first meeting. When was it? I think it was on a webinar that I ran? Would that be a fair assumption?   Terry: The very first time we met probably was on a webinar, because at that time, I know you were teaching people how to run webinars. You are my mentor on how to utilise the webinar platform, and over time I also attended a couple of the business live seminars. This is going back, probably almost…   Andrew: Several years.   Terry: Yes, many years. At least over five, six, seven years ago now. It was actually awesome. You were mentoring me on how to create a profitable business, from the business point of view.   Andrew: Yes, isn't it funny? Because I know you were at one of our events and you spoke about what you do. Something about it Terry, really piqued my interest. I remember many years ago I thought “We've just got to get Terry in front of business owners”. Because as a business we work so hard, right? We work so hard for our money and I think we forget that we need to turn around and get our money working hard for us. I remember Terry, I was teaching you a system on how to run a business and you said, "Look, this is what I do. I just have a system to help people create wealth."   Let's just personally talk a little bit about your background. How did you get into trading shares? Why shares? And obviously, your business ‘Freedom Trader’.   Terry: Sure. My background is I came from corporate years ago. I was doing the 70-80-hour weeks and over time, my health deteriorated. I was with one of the big four banks. I was going up the ranks, promotion after promotion, so that was fine. But 5½ years in, one day going out to lunch, I literally blacked out at the top of a staircase. This is in Sydney. I rolled down two flights of stairs and ended up in the hospital. I realised that doing the 80-hour weeks wasn't sustainable long term. I was working hard for my money, getting my promotions, but I needed something else that could give me the freedom. Because I didn’t have any, I was not really having the family life I wanted. I thought "Okay, let's have a change. Let's see if I can give this a go”.     I was always interested in investing but didn't know where to start, so I attended seminars to learn as much as I could. The first 2 years actually I didn't do well at all. I basically lost quite a fair bit of money, because I attended the wrong seminars, people who were teaching for a living rather than doing for a living. It wasn't until I went out and sought the best fund managers around the country and learnt from them, the Warren Buffets of the world, a lot of the Australian fund managers that do very well and have great track records. Really learning from them and realising the mistakes I made and from there I slowly retrained myself and started again.   Once I became quite successful on my own, I thought, "Okay, why not now help other people by managing their money?". I went out there and I raised capital quite quickly. I was running the fund very similar to Berkshire Hathaway, Warren Buffett's company, where I wanted to be fair, where I don't charge any management fees. I'll just charge based on profits, and I'll be the largest fund holder of the fund as well. Therefore, we have our interests aligned and it just grew from there. Literally, it's been about 15 years now and a good