The Barefoot Investor: Scott Pape explains how to find a good work routine and when ‘you’re being robbed’

Scott Pape reveals how he has perfected the work from home routine, and how a letter from a single mum has led him to warn Aussies of a scam robbing them blind.

Barefoot Investor Scott Pape. Picture: Supplied.

“If you make so much as a sound … I swear I’ll kill you,” she hisses.

It’s 4.30am, my morning alarm has just gone off, and Liz has been up all night with our 18-month-old.

So I creep down the hall in the pitch black – past our sleeping toddler – praying that I don’t hit a landmine piece of Lego.

Why do I get up so early?

Well, with four kids, a book that’s about to be launched, and a full-time farm, life is busy … so I follow the army motto: get up before the enemy.

And it seems, post the pandemic, that we’ve all won the battle of being able to work from home … yet we’re losing the war. A new study from La Trobe University has found that working from home increases the likelihood of weight gain, exhaustion and burnout.

The main reason cited in the study is a lack of routine. So, as someone who’s been working from home for the past 20 years, I thought I’d share with you my routine.

You need to get up at 4.30am and START BLOODY WORKING!

Just kidding.

It’s not just the start of the day that matters … its also how you end your day. So let me tell you about a simple little ritual I follow at the end of each day that has radically reduced my stress and overwhelm.

First, I set an alarm on my phone for the end of my work day. When the alarm goes off, I grab a nice knock-off drink and close every single one of the tabs in my browser(s).

Then – and this is important – I shut down my computer.

Watching the computer screen go blank is my visual cue that the work day is over. And then I go full 1980s and leave my computer in the office.

My final step is to go for a walk outside without my phone. Sometimes it’s only 10 minutes. It’s just a way to get my body moving, and it helps me mentally transition from work-Scott to taxi-dad.

Soldier on!

Tread Your Own Path!

BLOOD ON THE FLOOR

Scott,

Thank you for helping me over the last few years. I have managed to both save and pay some large life bills thanks to sticking to your simple plans. However, I just lost a big chunk of my investment money with the current market wobble. I’m optimistic it will be back on par with 3 years, based on what history has shown us, although a little nervous. My question now that push has come to shove, and blood is on the floor, do I keep buying my index funds, or pause?

Ollie

Hi Ollie,

This isn’t blood, it’s a paper cut!

Our market is down by roughly 10% in the past 12-months, which is totally and utterly normal.

The stock market is the only place where prices go on sale … and everyone runs out of the shop!

My suggestion?

The only thing you need to pause is looking at your share prices each day.

RETIRE IN SEVEN YEARS?

Dear Scott,

I just came across an article in Forbes describing how it would be possible to retire in seven years by investing half your income in closed-end funds (CEFs). What do you think of CEFs? Are they worth investing in?

Tammy

Hi Tammy,

I read the same article, right to the bottom.

Then I clicked on the following ad:

The #1 BEST new trick to rapidly burn belly fat & detox (start this tonight).

Apparently the best new trick is eating avocado, and buying a lot of their expensive pills.

You and I both read the same thing: clickbait.

It’s an American article, but a closed-end fund is the equivalent of a Listed Investment Company (LIC), like the Australian Foundation Investment Company (AFIC), or Argo Investments (ARG). They’re perfectly decent investments (that I own!), though they have largely been superseded by simpler Exchange Traded Funds (ETF) index funds.

Retiring in 7 years, or getting a six pack doesn’t require gimmicks, just a lot of hard work.

BAREFOOT CALLS SINGLE MUM IN MIDDLE OF THE NIGHT

Hi Scott

I’m a 57-year-old single mum. I bought a property 3 years ago and work, as a nurse, almost every day to make ends meet. I get anxious when I think about the age I will be when I finally pay off my house, age 71! Will I even be able to work at that age? Then I start thinking of how to make money quickly. The lotto obviously is not going my way, so I looked into the stock markets and opened an account with CoinDaq. They are very helpful, but I do feel uneasy. I invested $2,500 and they supported me, so I added $2,500. I made 23% profit, about $1176.17. Which I’m excited about but somehow it seems too good to be true? Now they try to convince me to take $50,000 from my super and then I will make up to $9,000 a month with a ‘bonus’ of about $230,000 every 3 years. What is your opinion about this?

Linda

Hi Linda,

As I’m reading this, it’s currently 4:35am, (see above).

I’m debating whether I call you right now and completely FREAK YOU OUT.

It would go something like this:

“Good morning, it’s the Barefoot Investor. You are being robbed RIGHT NOW!”

(I’d scream ‘RIGHT NOW’ down the line, for dramatic effect).

Then you’d bolt upright in bed, and listen nervously for the burglars rifling through your stuff.

However, they didn’t climb through a window, and nab your telly Linda. They came in via your computer, and they convinced you to willingly hand over your cash.

Linda, they are scammers.

Literally the very first website that comes up when you Google ‘CoinDaq’ says:

“Coindaq is a scam site”.

The robbers have already stuffed $5,000 of your money into their duffel bag. Yet they haven’t left. They’re now searching around for the big payday: your superannuation.

Again, to be clear:

YOU ARE BEING ROBBED RIGHT NOW!

No matter what they tell you, never ever speak to them again.

WHERE ARE THEY NOW?

Hi Scott

I sent you an email over 5 years ago; after my husband left me pregnant with our 3rd child. I was a terrified mess. I’m writing to give you an update and to say thank you.

My children are now 10, 7 and about to turn 5. We are still in our family home and my name is the only one on our mortgage. I have paid off my credit card and cut it up, I have renovated our bathroom with cash, and we are about to go on an overseas holiday. Best of all, I’ve got $30,000 in the bank, offsetting my mortgage. Your book has changed mine and my children’s lives. I’m teaching them everything I know and they’re going to have the best start to life financially once they start working.

Tara

Hi Tara

I love a happily ever after – thanks for the update! Now let me break this to you: the book I’ve just written is even better than The Barefoot Investor, and it’s written directly for kids like yours. It’s out in a few weeks, and if your kids are anything like you, they’re going to absolutely love it.

Information and opinions provided in this column are general in nature and have been prepared for educational purposes only. Always seek personal financial advice tailored to your specific needs before making financial and investment decisions

The Barefoot Investor for Families: The Only Kids’ Money Guide You’ll Ever Need

(HarperCollins) RRP $29.99

If you have a money question, email [e-mail].

Originally published as The Barefoot Investor: Scott Pape explains how to find a good work routine and when ‘you’re being robbed’