Mining can provide something many Australians spend their whole careers chasing: a high income. I know because I spent more than 20 years working across mining, construction and engineering. However, I have learnt over the years that earning a good income and building financial freedom are two very different things.
You can earn $150,000, $200,000 or more a year and still find yourself completely dependent on that next payday. That’s not necessarily because you’re doing anything wrong either. Life gets expensive. Mortgages, cars, kids, holidays and everyday living all take their share.
Also, when you’re working long hours or doing a roster, it’s easy to think, “I’ll worry about investing later.” The problem is, later can arrive quickly.
That’s why I believe the real shift starts with changing your mindset and learning to turn some of the income you earn today into income-producing assets.
This is something I wish more people working in mining talked about.
Instead of only asking How much am I earning? Maybe we should also be asking:
“What am I building with what I’m earning?”
For me, property became part of that answer. I started investing in property in my early twenties, but I eventually discovered commercial property and began to think about investing differently. Commercial property made me focus on the income an asset could produce, rather than simply what the property might be worth one day. And now, after years of investing, I can see the rewards. I can see a steady income stream from assets I’ve purchased, without working another shift to earn it.
For me, that’s what the Next Shift is about.
It’s not about stopping work tomorrow.
It’s about using the income you earn today to build something that keeps working for you long after you finish your last shift.
John Herman will be hosting a seminar at Blackwater Golf Club on 15th October at 6.30 pm
To schedule a free initial meeting, click here or click here for contact details
John and Golden Triangle Group are paid supporters of Shift Miner.