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An interview With Twiggy Forrest’s Accountant

This excerpt is taken from 40-41 of my book Millionaire Mortgage Secrets. (You can get your PDF copy by using that link)

The guy who gave me this information during a phone interview is Twiggy’s accountant (one of them, anyway). Let’s call him Mike.

For privacy reasons I can’t actually give you his full name but he is a Partner at one of the big accounting firms which is where you would go for accounting if you were a billionaire mining magnate, property tycoon or had an immense amount of family wealth with all the convoluted and complex structures to manage. 

Mike is an accounting genius and school friend of mine. When I interviewed him for this book recently, I asked him how the mega-wealthy clients he is entrusted to advise manage their borrowing. 

According to him, they always borrow for income producing purposes and seldom for buying a property for non-income producing purposes. “They’re incredibly strategic when they borrow, they have a complete plan outlining how they will cover the debt and how long it will take to pay it off…” They take a vastly different approach to money than everyone else. They have a different brain chemistry. Their world is unrelatable, quite incredible, really.” 

He continues…

“The billionaires I deal with drive a harder bargain on our fees than the multi-millionaires, they’re way more focused on earning, cash flow and debt than they are on saving.” 

With the insane amount of new money coming into the system every single minute, why would anyone be relying on savings for their future source of wealth? That’s a depreciating asset! 

“Many of them will pay $10m, $20m in cash for their primary residence – I don’t see many of them borrowing much to buy their homes. They will borrow, sure, but they don’t borrow a lot, relatively speaking. It’s not a smart way to use debt. Often I see them using low-interest loans secured against their homes to invest in income producing assets.”

“They typically borrow to buy businesses and investments only. Not cars or toys, or things like that. It’s funny, dealing with extremely wealthy clients – they are humble beyond their means as opposed to living beyond their means.” 

Living this phrase will make you wealthy. 

Get this for a pearl of wisdom: Mike went on to say that they “drive the least expensive cars their egos can afford”, and if they’re driving a supercar, “they really aren’t that rich, certainly not mega-rich. These guys don’t drive flashy cars, they watch every dollar. They’re not tight with their money, but they’re not loose, if that makes sense. For a lot of them, their biggest indulgence is philanthropy”. 

Are you picking up what I’m putting down here, dear reader? If you really, really want to be financially secure, then following some of Mike’s observations is probably a good place to start.  

Request a 10-min call so I can share all the other gold nuggets I wasn’t able to tell you in the book ==>HERE

Brodie Brown

Professional Mortgage Broker