As seen in my recent article about “Escaping the Spinach Tax”, a million-dollar gross commission income agent called Ben Dover in a traditional business only kept $232,000 (23%) after costs.
Whereas last year, a receptionist called Cleo Ver, using equity from her property as collateral, borrowed $300,000 from the banks at 6%, she purchased Bitcoin (BTC) on 6th July 2024 at a price of $83,524.11 AUD per BTC, giving her 3.59 BTC in total.
On the 7th July 2025, Cleo sold the BTC she purchased 12 months before for $165,000 each, being $592,320 in total.
She paid $18,000 in interest to the banks, paid off the original $300,000 loan, tax of about $27,000 to ATO (she held the asset for more than 12 months, giving her a 50% discount).
So, after expenses, Cleo kept $240,000 plus her salary from doing reception.
Cleo Ver worked 40 hours a week while the million-dollar agent Ben Dover worked 60 hours a week, which over one year works out to be 1,000+ more hours than Cleo, yet she made the same income as Ben, in fact, she made a little more.
If you had an extra 20 hours a week to do whatever you liked, what would you do with it?
Personally, I love diving so I would be on my boat, in the sun, creating amazing experiences.
This is me swimming with a Whale Shark in Exmouth W.A. I highly recommend.
Ben, in the above example, doesn’t have much free personal time; his long work hours are great and important to build up momentum and market share, but it isn’t sustainable long term, as it will affect his health and relationships.
He has no wealth creation strategy, he drives a BM Trouble You but can’t afford socks to wear with his loafers, while Cleo drives a Toyota Corolla Hybrid, saving on fuel and uses the extra cash flow for investment because, in her words, “Instagram likes don’t pay mortgages”.
As a salesperson, I remember working 10-15 hours a day. I was too busy earning money to learn about making money.
I felt like I couldn’t slow down and look at smarter, faster, better ways of creating financial freedom.
Being the number one agent in my patch was a drug I was addicted to; I had blinkers on and didn’t think to stop for a moment to learn about leverage or investing.
If that’s you this is the slap in the face I wish someone gave me in my early days.
The Spinach Tax is real, it’s the tax you pay for your ignorance or inaction.
You may know or have heard of the “Bitcoin Prophet” Michael Saylor, who, at the time of writing this, according to Forbes, is worth between $10-12 billion US Dollars.
He has a saying that I like: “You buy Bitcoin at the price you deserve”.
I think that saying applies to many things in life, not just Bitcoin.
To read more about the Spinach Tax and creating financial freedom, download this PDF.
