Do you dream of being financially free, maybe even being a millionaire, so you no longer have to worry about money…ever again? Well, today I talk with someone who is not only a self-made millionaire but has been one three times during his lifetime. He became a millionaire on two separate occasions and lost it all. But he didn’t cry in his oatmeal… he got up, dusted himself off, and went back to work following his dreams of financial independence. As many of you know, the second leg of The Three-Legged Stool of The Simple Life is financial freedom, so this is a very powerful episode to help you understand what it takes. Remember money equals freedom, and you must use it as a tool to live the life you want!
About Myles in his own words: I was born and raised in the city of Adelaide, Australia. Adelaide was a wonderful place. Clean, great community, great weather, great food. I mean the idyllic place. My parents were not wealthy, but nor were they poor. My father worked all of his life for the same company. My mother was a stay-at-home parent. My parents owned their own home, and paid it off. They struggled financially but were able to put me through private school. I was an only child – I guess I didn’t have to share their focus with another, so I kinda got lucky.
I had always been interested in technology from a young age. I was such an avid learner that I would go to great extremes to seek out things and get involved in clubs, community groups, etc. I rode my bike everywhere – even for hours to the center of the city to spend my Sunday afternoons in the public library. Soaking up every bit of knowledge I could get. Strange things that people often didn’t pay attention to. But I did.
One day I got exposed to CB Radios. This was in the 1970s. I became obsessed (as I often did with things). I learned about electronics, physics, communications, etc. This led me towards computers and eventually I bought one of the very first personal computers – in 1978 the TRS-80 Model 1 computer. I learned everything about programming that computer and it became everything to me. As the computer industry evolved, so did I. I started a software company and became one of the few experts in software development in Adelaide – getting gigs to write software for government departments, big corporations, etc. and I was still not even 20 years old. My passion for technology was matched with a passion for business, which started out well before I discovered technology. I guess business was in my DNA.
In 1989, I moved to the United States, settling in Los Angeles. I realized that the ability to migrate from one place to another was a life changing experience. It taught me to embrace everything I found within my grasp, learning about business in the USA, I got involved in the music industry and I was able to leverage my computer programming experience to land work in some early startups – one of which became Amgen, the world’s largest biotechnology corporation. Although I spent much of the next 30 years living in the USA, I never lost touch with my home of Australia, and in the late 1990s moved back there for a number of years before returning to the USA. In 2002 I moved to Scottsdale, Arizona and I’ve lived here since.
I am a self-made business owner. I don’t have a job. I do have clients and I do work on software projects and data centers, etc. today. It is because this is what I love to do. It isn’t because this is my career. I’ve never embraced that concept. I think if you are blessed to find your calling early in life and you can turn that into an income earner, you will embrace that far more than a defined “career” that people have to convince themselves that they love to do. I got lucky in that regard. But it was more that at a young age I was passionate to learn things. I still am. I just can’t learn them in a classroom, or a lecture hall, or books. I have to go out and see things with my own eyes and touch things with my own hands. It is just the way I operate.
Today I run a technology organization, and thanks to my wife and her focus on investments in the 1990s, we learned the power of real estate investing along with other passive income businesses and today I make 100% of our financial needs from passive income. This means we are free to travel and live an unconstrained life. But I also respect that I got an early start in this sort of thing, so I want to give something back.
- How Myles got permission from his parents to leave school at 15 years old and pursue his passions
- How Myles made his first million at a very young age, and how he lost it
- Why luck is when preparation and opportunity meet
- How a tragic car accident altered Myles’ outlook on life
- How doing the things most people are unwilling to do made Myles successful
- Why life is unfair and you can either be a victim or a grinder who never gives up
- Why the victimhood mentality is destroying this country
- Dealing with life-altering injuries without health insurance
- Why even during dark times there are unlimited opportunities if you are willing to do the work
- For those who are willing to take the risk, running your own business is an opportunity to live a life of complete freedom
- How Myles learned the modern education system for the most part is a complete waste of time