00:00:00
Speaker 1: 702. 702. Finance feature. Six minutes to two o'clock. Sorry, I couldn't read the clock for a second there. 011-883-702 and the WhatsApp line 072-702-1702. How do people actually build wealth and what can we learn from the wealthy? We're joined by Gio Buerta, who is a financial advisor. Gio, welcome to the show. Thank you so, so much for joining us. And I'm going to set the premise that let's assume we're not talking about somebody who is unemployed or homeless. We're assuming we're talking about somebody who has some sense of financial stability, but they want to take things to the next level.
00:00:38
Speaker 2: That's correct. Thank you for the time and the opportunity. That's correct in a sense, but most of the guests on the show that we have now on CakeNet actually started, a lot of them started with nothings. So it's anyone that can really create wealth. You don't need to have an education. You don't need to have money to start and to build wealth. So it's really for anyone, the basic principles.
00:01:02
Speaker 1: All right, what is principle number one that we have to just get right, something that we can even implement from today?
00:01:08
Speaker 2: You need to believe. I think that's the first of all. You need to start to believe that you actually can create wealth. I think a lot of us possibly have an idea. You sit awake and chat with friends or your family, and you have this idea, but you don't really believe in yourself that you can actually make it happen. So I think if you don't have the belief, you're not going to go into action. So I think, first of all, it's a mindset change. The people that are wealthy are not special. They're not all smarter than you are. They're not just lucky. It's the first belief that they can actually make a difference, especially in a country like South Africa. We have loads of problems. We know that. But that also brings lots of opportunities. So you need to change that mindset, yes.
00:01:50
Speaker 1: I love you saying you have to believe because if the mindset is not necessarily shifted to that, you might miss certain opportunities.
00:01:59
Speaker 2: Yes, because there's lots of problems. So we look at the problems. So one... So one side of the coin is you look at a problem and you feel sorry or you wait for the government, you wait for business. The other side of it is you look at a problem and say there must be a solution. Let me find the solution. And I think that's the big difference between what we see, people that are successful and those, unfortunately, that are not.
00:02:17
Speaker 1: Okay, what is the next thing a person can do?
00:02:22
Speaker 2: Well, then you need to think, what are you good at? You need to know yourself. What are you naturally good at? Are you good with people? Are you good with numbers? Are you good with selling something? Every person is good with certain things. So you need to first know yourself. What are you good at? And what do you enjoy doing? What area do you like working in? Do you like clothing? Do you like the hospitality industry? So if you know those two, then it can be clear as to which way do you look for problems first and the opportunity. So knowing yourself is very, very important when you build a business. And on the other side, if you're wanting to grow your wealth, you need to spend less than you earn. I mean, it sounds very basic.
00:03:06
Speaker 1: It sounds like when they're saying if you want to lose weight, you need to burn off more than you consume, which is pretty much the same principle. Exactly.
00:03:17
Speaker 2: And it sounds simple. It is simple, but it's not easy. I think all of us know it's not easy. I mean, with all the technology of Chad GPT and all the technology to us, we know exactly almost how we should do it, but it's very difficult to actually do it. And I think, once again, people want to– to have this mind-blowing idea and all of that, this mind-blowing investment. But it's really as simple as don't spend more than you earn. I think that's definitely the place where you should start.
00:03:46
Speaker 1: Okay. And then what can a person do next after that?
00:03:52
Speaker 2: So there's two. So you need to look at, when you look at wealth, there's two sides to it. So first is the wealth creation. That's where you use your skill, your expertise to accumulate money, either through a salary or dividends or commissioning. So there is the one side. Then the other side is managing your money. So then you take your hard-earned money that you already have, and then you want to help it to grow more. So I think first on the first side is you have to invest in yourself. Once again, that sounds very cliche, but investing in yourself is read, listen to exactly shows like you do have now, ask questions, listen to podcasts, go on a course. So there's definitely ways to improve yourself financially. without needing a tertiary education or formal degree behind your name. You can improve your skills and knowledge, and you should.
00:04:43
Speaker 1: And the final one that you can share with us, because obviously we know things like managing debt are very, very important, living within your means or below, and seeing how you can diversify. But what are your final thoughts for the listeners?
00:04:58
Speaker 2: Yeah, I think keep it simple. And I think it's very unfortunate. We see with the betting companies now, a lot of people hope to get rich quick. So they hope that they can buy or do a bet or buy a lotto and they want to get rich quick. And we see that very, very seldom happen. So I think you need to have the patience and the discipline. Because in the long term, then you will become wealthy. But if you can constantly fall for things that are too good to be true or get rich quick schemes, then that's 99.9% of the time it's a failure, unfortunately.
00:05:29
Speaker 1: Oh, that is the reality. Gio Buerta, thank you so much for your time.
Speaker 1: 702. 702. Finance feature. Six minutes to two o'clock. Sorry, I couldn't read the clock for a second there. 011-883-702 and the WhatsApp line 072-702-1702. How do people actually build wealth and what can we learn from the wealthy? We're joined by Gio Buerta, who is a financial advisor. Gio, welcome to the show. Thank you so, so much for joining us. And I'm going to set the premise that let's assume we're not talking about somebody who is unemployed or homeless. We're assuming we're talking about somebody who has some sense of financial stability, but they want to take things to the next level.
00:00:38
Speaker 2: That's correct. Thank you for the time and the opportunity. That's correct in a sense, but most of the guests on the show that we have now on CakeNet actually started, a lot of them started with nothings. So it's anyone that can really create wealth. You don't need to have an education. You don't need to have money to start and to build wealth. So it's really for anyone, the basic principles.
00:01:02
Speaker 1: All right, what is principle number one that we have to just get right, something that we can even implement from today?
00:01:08
Speaker 2: You need to believe. I think that's the first of all. You need to start to believe that you actually can create wealth. I think a lot of us possibly have an idea. You sit awake and chat with friends or your family, and you have this idea, but you don't really believe in yourself that you can actually make it happen. So I think if you don't have the belief, you're not going to go into action. So I think, first of all, it's a mindset change. The people that are wealthy are not special. They're not all smarter than you are. They're not just lucky. It's the first belief that they can actually make a difference, especially in a country like South Africa. We have loads of problems. We know that. But that also brings lots of opportunities. So you need to change that mindset, yes.
00:01:50
Speaker 1: I love you saying you have to believe because if the mindset is not necessarily shifted to that, you might miss certain opportunities.
00:01:59
Speaker 2: Yes, because there's lots of problems. So we look at the problems. So one... So one side of the coin is you look at a problem and you feel sorry or you wait for the government, you wait for business. The other side of it is you look at a problem and say there must be a solution. Let me find the solution. And I think that's the big difference between what we see, people that are successful and those, unfortunately, that are not.
00:02:17
Speaker 1: Okay, what is the next thing a person can do?
00:02:22
Speaker 2: Well, then you need to think, what are you good at? You need to know yourself. What are you naturally good at? Are you good with people? Are you good with numbers? Are you good with selling something? Every person is good with certain things. So you need to first know yourself. What are you good at? And what do you enjoy doing? What area do you like working in? Do you like clothing? Do you like the hospitality industry? So if you know those two, then it can be clear as to which way do you look for problems first and the opportunity. So knowing yourself is very, very important when you build a business. And on the other side, if you're wanting to grow your wealth, you need to spend less than you earn. I mean, it sounds very basic.
00:03:06
Speaker 1: It sounds like when they're saying if you want to lose weight, you need to burn off more than you consume, which is pretty much the same principle. Exactly.
00:03:17
Speaker 2: And it sounds simple. It is simple, but it's not easy. I think all of us know it's not easy. I mean, with all the technology of Chad GPT and all the technology to us, we know exactly almost how we should do it, but it's very difficult to actually do it. And I think, once again, people want to– to have this mind-blowing idea and all of that, this mind-blowing investment. But it's really as simple as don't spend more than you earn. I think that's definitely the place where you should start.
00:03:46
Speaker 1: Okay. And then what can a person do next after that?
00:03:52
Speaker 2: So there's two. So you need to look at, when you look at wealth, there's two sides to it. So first is the wealth creation. That's where you use your skill, your expertise to accumulate money, either through a salary or dividends or commissioning. So there is the one side. Then the other side is managing your money. So then you take your hard-earned money that you already have, and then you want to help it to grow more. So I think first on the first side is you have to invest in yourself. Once again, that sounds very cliche, but investing in yourself is read, listen to exactly shows like you do have now, ask questions, listen to podcasts, go on a course. So there's definitely ways to improve yourself financially. without needing a tertiary education or formal degree behind your name. You can improve your skills and knowledge, and you should.
00:04:43
Speaker 1: And the final one that you can share with us, because obviously we know things like managing debt are very, very important, living within your means or below, and seeing how you can diversify. But what are your final thoughts for the listeners?
00:04:58
Speaker 2: Yeah, I think keep it simple. And I think it's very unfortunate. We see with the betting companies now, a lot of people hope to get rich quick. So they hope that they can buy or do a bet or buy a lotto and they want to get rich quick. And we see that very, very seldom happen. So I think you need to have the patience and the discipline. Because in the long term, then you will become wealthy. But if you can constantly fall for things that are too good to be true or get rich quick schemes, then that's 99.9% of the time it's a failure, unfortunately.
00:05:29
Speaker 1: Oh, that is the reality. Gio Buerta, thank you so much for your time.
