What Kids Should Be Taught At School! Mastering Money and Business Skills with M

Tell everyone who you are, young man.

Well, I'm Maxwell, Maxwell Morley, and I'm nine years old and I'm from London. I'm half Irish and I'm half Nigerian and, yeah, that's who I am.

And how did we meet?

How did we meet?

Yeah, how did we meet?

Oh, yeah, we went to an event. Yeah. My mum brought me to one of Rob's events and then we met and I asked him a few questions and so now he wants to interview me.

So do you know why I want to interview you or you interview me? Do you know why?

No, not 100%.

Okay. So would it be fair to say when I was at the event and I was coming off stage, you were following me, asking me questions?

Yeah.

Yeah. And do you think I was impressed by that? Yeah, I was. Why do you think I was impressed by that?

Because, well, usually maybe people that are a bit younger might stay behind and be a bit shy. I was quite shy. My mum encouraged me a bit. It. Yeah.

So I don't know many people who are nine that would come up and ask me questions. And your questions were also very good. So I, I saw something special in you, young man, and so that's why I invited you here. And the reason we're doing this is one, so that you can ask me more questions because obviously at the event a lot of people wanted to talk to me. It was busy, I was on and off the stage and I couldn't give you a huge amount of time. I had to give you quick answers. But I thought it might be nice for you because you seemed really keen on making money, that you can spend as much time as you want asking me as many questions as you want. And also I think you're an inspiring kid.

Yeah.

I think there's a lot of nine year olds that might want to start their business or make money or come to events or be entrepreneurs because of your attitude. So that's why we're recording this, to inspire others too. But you can be as selfish as you like, which means from now on you can ask me any question. Nothing's off the table. Hopefully you've done some preparation there and in your notebook you got some questions. So hit me. What do you want to know?

The first question is how do you start?

Do you mean start a business or what do you mean to start, like.

Yeah, start your business. You know, know, have people there like. Yeah. To start growing your money and that. Yeah.

So if someone's young like you.

Yeah.

And you want to start a business, the first thing is you got to think about what you like. So what do you like?

I like acting. I do like drawing nature.

Okay.

Yeah.

So you could do some tick tock and social media content doing your acting. Obviously you've got to get your mum's permission because we do have to be careful with kids on social media because there are some people out there who aren't friendly and haven't got good intentions. So it's always important to protect, but you can still do that. I mean there are quite a few young YouTubers as you probably know, who make really good money. So let's say you wanted to practice some of your acting and you had a good few lines or you could do some good impressions or some good scenes, you might record that and then put it up on social media. So that's one thing you could do. The next thing is you could show your drawings. So I follow quite a few tiktokers who do really good drawings and they do. Have you ever seen where they sit? Start the drawing and end the drawing. And it's long but they speed up the camera and it kind of all draws it really quick within a minute. So you could do something like that or find a way to show your drawings. The next thing you could do is sell your drawings. So you could have an online shop, whether it's ebay or one of these online shops, shopify and you could do your drawings and sell them. So they're probably the three ways start. And many people, they overthink starting. The good thing about kids is you don't really overthink because you're not old enough yet to know of all the problems and difficulties and challenges and I think you should embrace that. So just start, just get a camera and just start doing your acting. Just get a camera and just start recording your, you know, your pictures that you draw and just start uploading them on social media. Obviously with your mum's help and permission, something else all kids should do. And my son Bobbie there, my daughter Arianna, you should listen to this, you should get your parents on side. So whether it's permission number one or help number two, you know, I'm sure your mum wants to raise you to be a happy, successful person.

Yeah.

So she's going to help you. So you know, if there's something that you wanted to buy, you'll ask her or if you want her to cook for you, you'll ask her. So also ask her to help you start your business, set up your social media because actually this recent budget should warn you that your pension is not safe and secure and they're coming for your inheritance. Do you even know how much is in your pension or where your pension is invested? Add to this the recent inheritance tax grab on your pensions and and the risk of a market crash. You probably didn't know this and I didn't until recently, but physical gold can be added to your pension. Pot gold is inheritance tax free and has grown 700% in the last 20 years. You probably know from my content I'm investing heavily in silver and gold and that's why I've partnered with direct bullion. Myself and Nigel Farage are brand ambassadors and direct bullion can help you with gold to protect and grow your pension. I buy my gold and silver from direct bullion and I don't earn any money on any purchases of gold or silver if you buy direct from direct bullion. So if you go to robmore.directbullion.com you can get a great price on your silver and gold and you can get the pension Gold investing guide completely for free. As you know, I don't do many strategic partnerships and when I do, I do them with people who are credible, who've been doing it a long time, who invest in things that I invest into and gold and silver's going wild. I'm investing heavily in gold and silver and, and I recommend you check out robmore.directbullion.com you can be smart and kind of get your parents to help you. I wrote a book called Life Leverage and it's basically how to get other people to do stuff for you. You want to get your parents doing stuff for you?

Yeah.

Cool. All right, what's your next one?

Once you have some money, how do you grow it?

Good question. So making it and growing it a different. Because to make it, you've got to start and create something and sell something, but once you've got it, to grow it, you've got to invest it. So most kids don't know this, but savings won't make you rich. Savings won't grow. Saving is just good to store to stop you spending it. Do you know what inflation is?

No.

So inflation is the increase in prices or the cost of things. And as something goes up in price, you can buy less of it with your money. So what happens with money is over time it becomes worth less. So I'm going to give you an example. Do you know that in 1970, well, how much do you think a really nice tailored handmade suit would cost? Have a guess.

Maybe 400.

Oh, keep going.

700. 1,000.

Yeah, I think at least a thousand. I mean, some of them are 5000. Let's just say it's 1500. 1500 pounds. Do you know how much it cost in 1971? No, that. That would get you a handmade suit in 1971, that's 20 pounds. Now you need 1500 pounds, which is a lot of these. Do you want that, by the way?

Yeah.

Good skills. Do you know, a lot of people, when I offer to give them money, they don't take it. You took it. You should always be good at receiving money. You were very quick with that. So that's inflation. That is. So that's inflation. Which means that over time, money goes down in value. So when you save it, if you hold it long enough, it goes down in value. So saving is really. The purpose of saving is to stop you spending it and wasting it. As soon as you've spent it, you've got it. As soon as you've saved it, you've got to invest it. So how do you grow your money, Invest it, or grow your business by selling more of what you're selling or getting more views if you're getting ads and sponsorship on YouTube, for example. Now, there's different ways to invest it. Probably the main ways to invest that people can get into without loads of technical knowledge would be the stock market. So the FTSE 100 or the S&P 500. Your mum can help you set up an investing account. Actually, you can have a kid's investing account on Hargreaves, Lansdowne or Vanguard or Charles Stanley. I have them for my kids. And then property. Property and the stock market are probably the two main ones. And what can happen is your mum can help you get a property and she can look after it for you. And then when you're 18 and legally allowed, she can transfer the ownership into your name. So by the time you're 18, you own property. And property can make you millions. Do you know how many properties I have?

Let me guess. A hundred.

Keep going. More.

A thousand. I wish.

340 apartment units. So that's a lot of. It's worth tens of millions. Okay, next question.

Next question. I'd say how to keep your business. Once you have a business, how do you keep it?

Yeah. So once you have a business and once you have money, the way to keep it is to focus and look after what made you successful. Because what often happens when people get successful and rich is they forget what got them there. So, for example, when people make a lot of money, they go and spend it on cars that go down in value or they go on holiday to really expensive places and waste money. So when you haven't got much money, you don't waste it, you're careful with it. Like, you're not just going to go and give, spend that £20, you're probably going to save it or invest it and be careful with it. If I gave you £2 million, you'd be like, oh, I can just give that away and that away and that away and that away. So when you make money, remember what you did to make it and manage it well. So that can be investing it and putting it in the stock market or into a property where it's kind of. You can't take it out straight away. And then the other thing is, get good at managing so you can use, you can hire people to manage for you. So I don't manage my properties, 340 units, but I don't go and check the tenants. And the gas and boiler safety checks you have to do, and you have to check, do a reference check for the tenants. There's all this insurance, maintenance. It's kind of boring, but it needs to be done. So why does I pay someone to do that who's really good at that? So as you grow your business, pay someone a small amount of money from your profit who's really good at managing, so then you can focus on carrying on to grow it.

Next question. I'd say how to learn the things they don't teach you at school, Right? Yeah.

Well, the first thing you've got to figure out is what are those things they don't teach you at school because you don't know what you don't know. So if you're not being taught it, how do you know it? So step one is to go on the Internet and go to events like your mum takes you to, like our Money Maker Summit, and find people who are rich because the problem at school, right? And be careful not to just go and say this to the teachers, just keep this one to yourself. But teachers at school who teach business and economics, they might make 50 grand a year. This watch is worth more than 50 grand. Just this watch. And I've got a lot of watches. So there's people in school teaching about business and money who aren't rich, because that's how the school system set up. So you wouldn't have a personal trainer to teach you how to go to the gym if they just had a heart attack, would you, because they're not very fit. You'd want to learn from a fit person, wouldn't you? You wouldn't learn your art from someone who could only just do a scribble. You'd want to learn someone who can draw well. So what you've got to do is find people who are rich and successful, you know, and you found me. And your mum will know others and then follow them and watch their tiktoks, listen to their podcast and go to their events and take opportunities like this to come and meet them and speak to them and ask them questions. Because most successful people want to help others be successful, especially young people, because all of us who are successful in business and money wish we'd have started at your age. We really do. And so we have this part of us that really wants to help you. Now, I haven't charged you to be here. You know, my mentoring is 1500 pounds an hour. It's 48,000 pounds a year to have me as your mentor. But I haven't charged you because I think, oh, I'd love to have had this opportunity at 9 and I want to give you this opportunity. So. And then once you've got these people who are rich, then you ask them, what can you teach me about being rich that they didn't and don't teach me at school? So, for example, I've just taught you about how inflation works. I've just taught you that saving won't make you rich, investing makes you rich. I've just taught you how to start your own business at 9, at school. None of your lessons will teach you how to start your own business. They probably won't even. I mean, they might start teaching you business studies or economics at 15 or 16, but nowhere in school will you get taught to set up your own business at age 9. But if that's what you want to do, why can't you start it at age 9? You can. Next question.

Next question. Let's see how to be earning enough money.

Well, the first thing is you've got to define how much is enough. So us adults probably need a bit more than you. Do you have a mortgage?

A mortgage? Yeah. My adults? Yeah. My parents do.

Yeah, your parents do. But your mum doesn't come to you every month and say, can you give me £2,000 to pay the mortgage this month, does she?

No.

Do you have to pay rent on your room?

No.

Do you have to pay your mum for all the washing and cleaning and ironing?

No.

Do you have to pay your mum Every time she cooks your dinner. No, no, but we do. We have to pay for these things. So we might need four, five grand or ten grand a month. You might need 500amonth because you might not have any bills. I mean, even your mum can get you to join Rob Team, my membership site, and you can join that for free. So the first thing is you've got to define how much you want to make. And if you've never made any money, 500 quid a month is realistic. A trillion isn't realistic. But if you, if you make 10 grand a month, well, then 20 grand a month is, is achievable. So you've got to define how much you want to make and then you've got to price what you do and then work out how many you need to sell. So let's say you want to make 500amonth. By the way, virtually no one your age will be making 500amonth. I mean, you know, it's like this kind of money. Does that look like quite a lot of money to you? No, no, you. Come on, you're just being cool. Right? But imagine making that every month. Would that be nice?

Yeah, that would be nice.

That would be nice. So let's say there's 500 there. How much do you think you could sell one of your pictures for?

Well, for my age, for the pictures that I draw, it's not too much, maybe 20.

Okay. How long do they take you?

Well, depending on different pictures, maybe if I had a bit more practice, there may be a bit more money that I'd be sending it for.

Yeah, well, you can still start charging now for them. And as you get better, you charge more.

Yeah.

So sometimes a good way to work out how much you charge is how long they take. If they take five minutes or five hours, you'd charge more for five hours than you would for five minutes because it's your time. So roughly how long does the average one take, do you reckon?

Average, maybe 10 minutes.

Okay, so 10 minutes, 20 quid, that's probably pretty good because that, you know, that's quite a lot per hour. That's 120 pounds per hour. Most adults don't work, you know, make that kind of money. So you got to then work out. All right, if you want to make 500amonth, how many do you need to sell? Can you do the maths on this? I'll help you if you need to. What's 10 times 20?

10 times 20? 200.

Yeah. Okay, so then another 10 times 20 yeah, 400. So that's 20 and then what's 5? We've got 100 left. What's 100 divided by 20? Do you know that? Can you work out? He's sharp at maths. So 10, 10 and 5. So 25. You need to sell 25 pictures a month at £20 and there's your £500. And if they take you five minutes, then maybe every weekend you might do five of them, you might need to do seven every weekend, four weekends, 28. Then you're going to make over 500 quid. So that's kind of how you. You figure out how to price what you've got. Now, let's say you wanted to make 500 quid, but they took you two hours. You might think, well, I haven't got enough time. So you might charge more, you might charge 50 quid. Yeah, because it's all. A lot of. It's about how long it takes you. Now, let's say you're doing your. The way you're making money is by monetizing TikTok and YouTube. Then you've just got to work out how many views do you need to make 500 quid. You wouldn't. You only know this by trying it and then just make sure you get that many views. All right, what's your next question?

Which people. So you're not wasting your money on trying to. Trying to spend money on going for courses.

Why is going on courses wasting your money?

Well, I mean, like going. Paying people so they can teach you when. How do you know to do pay the right people?

It's a really good question because on the Internet now, there's loads of people who aren't making money trying to teach people how to make money, because it seems like an easy way to make money. So you've got to be careful of all the schemes and scams. Now, one of the ways you work out if it's real or not is. Is how realistic it is. So if I said to you, if you just wake up when you want, press one button on your laptop and then you get a million pounds a day, does that sound good?

No.

Why not?

Because that person is just saying that and, well, nothing's gonna happen. And if that was happening, somebody might be doing that and they could. You could be pressing on a button to get a virus on your computer or something.

Very good point.

Taking.

This was the answer. So you know it's too good to be true. You know, you can't just press a button and make a million so when you look at things, if people are so easy, you can get really rich, all you have to do is press this button. All I have to do is buy here and sell here and I'll make millions. And they rent supercars. And did you see my nice cars out the front?

Yeah.

Did you like them? Yeah, I own them. They're not rented. I didn't rent them for the day. This building we're in, I own this studio, I own. These buildings over there, I own. So you've got to ignore all the stuff that's too good to be true and find the people who look like they're doing it for real. Now, how you know this is if you just follow them over time. So obviously you followed me over time. You know, your mum's followed me for, you know, a few years now, so she knows I'm real, she knows I haven't just rented this building and rented that car. So once you've followed them for a while and then you know that they're really good and real, they're the people you want to pay, because people actually. Here's the irony, right? So a lot of people will pay 1,000 pound for a TV, but they won't pay a thousand pounds to learn how to be rich. I mean, if you, you're going to watch a tv, right? And unless you're watching how to Be Rich on this tv, most people are just watching horror or pranks instead of actually watching how to be Rich. But a lot of people won't buy courses or education because they think it should be free. But why should it be free? Because I've spent millions of pounds over the years learning how to be a millionaire, so why should I have to give it away for free? So that is how you figure out who's real and then you can. And if you're not sure, because you're not always going to be sure, start by buying their book, because the book is ten pounds. I mean, if you, even if you get scammed, it's a rubbish book. It was only £10. You've got 20 there. So you can reduce your risk and you can listen to their podcasts. And then when you think, you know what I know this person's for real. And I've asked my mum to do a bit of research and she's checked Companies House and she's done her own, you know, Googling and all that. Then once you found them, then you want to follow them really closely because you know the quickest way to get rich, the quickest way to get rich is find someone who's rich and learn from them. And that's exactly what you've done here. So you are, you are more, you are much closer to getting rich now than you were before you walked in that door. Which means you are much closer to getting rich than any of your friends at school. And all you need to do is just keep doing this, keep asking, keep learning. So if you've got anything final you want to say or any final question or anything you want to say to me.

I think all my questions are up. Yeah, that's it. Really.

Well, let me ask you something. How have you found today? What have you felt about coming here and doing this today?

I felt like I've learned a lot more and I know more about getting more money and I've gotten closer to my turn, to my goal. Yeah.

And when are you going to start your business? When are you gonna start selling or creating content? When are you actually going to start?

Well, maybe not today.

You still gotta go home. Yeah. But soon. Are you gonna, you're gonna start this soon?

Yeah, soon.

Yeah.

Yeah.

Because you know what a lot of people do? A lot of people want to plan to and talk about doing it, but never do it. So to be successful, a big part of it is just starting. Like you don't know everything now, but I don't know everything either. So at least if you start, you're moving forwards. And sometimes you don't know everything, you just have to start. And sometimes you might have to sell your pictures for a 10 and not 20. Sometimes it might take you a little while to sell your first one. This is all normal. Alright. It's been a pleasure, Maxwell. This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out through podcasting video and social content. Visit disruptivemedia.co.uk to learn more. This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out through podcasting the video and social content. Visit disruptivemedia Co UK to learn more.