Barefoot Investor Scott Pape reveals staggering amount his ‘hero’ earns without even going to uni

The Barefoot Investor has found a new ‘hero’ who makes more than 90 per cent of all Aussies, despite not going to university.

Scott Pape was asked by young entrepreneur Sam, 23, about what he should do with his money after he started a successful yet ‘very unsexy’ window washing business.

Establishing the business with hopes of becoming financially dependent, Sam made $160,000 last year while only working 35-40 hours a week. 

His yearly earnings put Sam in the top seven per cent of Aussie earners without a university degree, according to 2020-21 Australian Tax Office records.

Sam said he ‘didn’t want to be a slave’ under someone else’s business and found that his freedom came with the money made from window washing.

The ‘unsexy’ business has also netted Sam a considerable amount of savings, investing $300,000 in stocks and $90,000 in cash.

‘My question is, what else should I do with it?’ he asked the financial guru.

Replying to Sam’s email, Mr Pape hailed the young businessman as his ‘new hero’. 

He also commended Sam’s work ethic and his approach to owning a business. 

Mr Pape described Sam’s venture as the opportunity of a lifetime.

‘He’s not repaying HECS (student loan). He’s earning great coin. And he’s not only working far less than most of us, you can bet when he knocks off he might stare out a window, but he certainly ain’t thinking about them,’ Mr Pape wrote.

‘That’s because Sam has what he calls an ‘unsexy business’.

Many other Gen Zs could soon be on the precipice of owning their own business like Sam off the backs of baby boomers, according to Mr Pape.

There are currently 2.6 million small businesses across Australia.

‘And almost half of the owners of these businesses are run by people over the age of 50,’ Mr Pape wrote.

‘They’re all getting older, and they’ll increasingly be looking to retire. (So) who is going to buy them? Young(er) people of course.’

‘These are the types of businesses that you want to buy. After all, they’re established, having made it through the ‘kill zone’ of the first five years. They have regular clients, reliable streams of revenue, and trained staff and systems in place.

Sam is among eight per cent of Australian small business owners aged under-30.

The entrepreneur, Sam, runs a window washing business and is now among the top 7 per cent of Aussie earners while also having almost $400,000 in savings (stock image)