This post is based on an interview we conducted with Garth in August 2026.

Real Money Talk is our series where we interview Australians from all walks of life about their personal finances. The views expressed are those of the interviewees, based on their experiences with money, and are not necessarily representative of Spaceship's views.

We have changed the name of the interviewee for their privacy. Garth shared his story in good faith, and we haven’t verified these accounts as factual. (Garth's experience is his own and is not representative of typical outcomes. Investing comes with risk and returns aren't guaranteed.)

Garth was one of our first-ever Real Money Talk interviewees - so we checked in on him to see how he’s been faring. In 2019, he had an 8 year old car, six pairs of shoes, and a net worth of $10 million. Catch up on Garth’s first Real Money Talk. Now, let’s get to his second!

Jump straight to

What’s changed in seven years?
Did Garth get his “little bit more”?
How has his investment mix changed?
The opalised dinosaur bone
What he’d tell his grandchildren about money
His take on AI
Why he still doesn’t want to retire
His biggest investing lesson

It’s been seven years. Give us the headline: what’s changed and what hasn’t?

The last seven years have been the golden years for me.

During COVID, people were spending freely online, and my e-commerce platforms benefited enormously. Across my platforms, we have now sold around 2.7 million opals and gemstones.

Even my smallest business sold more than 100,000 Himalayan salt lamps, with around $500,000 in profit from one product alone.

During this period, I also purchased two properties.

Five years ago, I purchased one property using my superannuation after reaching my relevant preservation age. My super fund had grown from around $286,000 ten years earlier to approximately $3 million.

That experience reinforced one of the most important lessons I have learned: people need to understand the power of compound returns.

Four years ago, I purchased another property and borrowed just under $2 million. I paid off the entire loan in only 33 months.

I also wrote two books during this period. The first one was about my passion for opals and why I believe people should enjoy what they do. The other was about my strategy of building multiple income streams and not relying on a single source of income after spending 52 years in business, starting at 20 years old.

Last time you were at $10 million and debt-free, with a target of "just a little bit more." Did you get your little bit more?

I think I was actually conservative when I said $10 million. It may have been closer to double that figure even then.

Today, I would estimate my overall portfolio at roughly 40 million, give or take a few million.

I don't put an exact value on it because markets and property values change.

My two newer properties have now been amalgamated with my other three properties. We are planning to develop the combined property into approximately 444 units.

The property is also adjacent to a $2 billion development that has now started construction, so there is significant development happening around us.

Last time your wealth was spread across property, stocks, shares and online assets. How has that mix shifted?

It hasn't changed dramatically.

I still follow my investment strategy, which means I don't want all my wealth dependent on one investment, one industry or one income stream.

Over the years, many of my investments have doubled, tripled or even quadrupled, largely because I have given them time to compound.

I also believe in owning quality assets.

Quality assets can appreciate over time, sometimes dramatically. At the same time, I try to minimise things in my life that depreciate quickly.

That is one reason I don't worry about having the latest car, the latest fashion or constantly upgrading everything I own.

You're still in opals and gemstones. What's the strangest thing you've bought or sold since we last spoke?

Probably one of my strangest discoveries.

Around five years ago, I purchased a Queensland boulder opal for about $200.

It looked unusual and odd, so I put it away in a drawer and didn't think much about it.

Several months ago, I traded some opal for similar material that actually came from the same mine.

That material was subsequently certified by a laboratory palaeontologist as rare opalised dinosaur bone.

The specimens are now valued at around $100,000.

The collection is currently being prepared for eventual donation to a museum.

It is a good example of why I don't believe you should automatically discard something simply because you don't immediately understand its value.

What would you tell your grandchildren or their friends about money, investing and building a business?

First, you must enjoy what you do and have passion for your work or business.

That keeps you mentally alert and gives you a reason to get up every morning.

Health and happiness are just as important as money.

I also believe in having contrarian views. Don't automatically be a follower.

It’s my view that only 3-5% of real estate greatly appreciates so knowledge is important.

My investing concept is about building multiple income streams. I think that becomes particularly important after 40. Don't assume the government will provide everything you need in the future. Build your own independence.

Another principle I follow is: make the data; don't simply follow the data.

And when you experience a black swan event, or make a mistake in business or personal life, accept responsibility.

It is amazing how much clearer your mind becomes when you accept responsibility, learn from the mistake and move forward with positive energy.

You told us crazy people spend $200 a week on lunches and coffee. Be honest — how's the 8-year-old car going, and are you still on six pairs of shoes?

My car is actually 15 years old now.

It has too many dents and is probably worth around $3,000, but I don't drive much, so I don't care.

And yes, I'm still around six pairs of shoes, although I have bought some new ones, including two pairs of sandals.

I think the cost-of-living crisis is partly about people losing sight of what is actually essential.

We have become accustomed to treating many luxuries as necessities.

For me, a good lunch is usually a business meeting or a celebration. It isn't something I need to do every day simply to feel normal.

You said you wake up in business mode before your eyes open. Still true at 72, or do you get a lie-in now?

I'm 72 now and absolutely nothing has changed.

I wake up with the same passion and enjoyment.

I have around 1,500 sellers around the world relying on my platforms, and that gives me enormous energy.

It also gives me responsibility. I feel responsible for looking after the systems and businesses that these sellers depend upon.

That responsibility motivates me.

What's your take on the CGT budget changes? Would they have changed how you approached wealth building?

My investing concept for multiple income streams is still relevant — perhaps more relevant than ever.

I believe CGT changes may only be the tip of the iceberg and could be a warning to anyone involved in wealth creation.

The discussion around taxing unrealised gains showed me that the business environment we have known for decades may be changing.

I believe governments of both major political parties may increasingly look at taxation and compliance, particularly for small-business owners.

If I were starting my wealth-building journey today, I would pay very close attention to what is coming and change my strategy accordingly.

I think the changes may be coming sooner than many people expect.

Everyone's talking about AI. Has it touched your business at all, or are gemstones safe from the robots?

We have actually been using AI for years to help operate our systems.

It is getting better and will increasingly help with our systems and future plans.

Nobody is going to be untouched by AI.

Some people will make millions from it, while many other jobs will disappear and some people could become unemployable.

I don't think gemstones are immune either. AI will affect the way people discover, research, market and buy gemstones.

I differentiate between e-commerce and endlessly scrolling or chatting online.

E-commerce is a business system. Social media can be entertainment.

Yes, I have TikTok and other social media accounts, although staff manage much of the day-to-day social activity.

SEO changes constantly, and our businesses have sold to buyers in 139 countries, so international e-commerce is extremely complicated.

Our advantage is having quality sellers and strict online systems.

That creates buyer confidence.

We have buyers prepared to spend tens of thousands of dollars online because they trust the platform, the sellers and the systems behind the transaction.

Retirement: you said zero worries and no plans to stop. What does a good week look like for you these days?

I normally start work around 6:30am.

At 7am I have coffee on the boat, then I work through systems allocated to each part of my businesses.

I don't take phone calls all day or constantly answer messages. I have set times for responding to them.

These days I usually finish around 3–4pm.

But I don't really regard 99% of what I do as work.

I enjoy it.

I still take two or three holidays a year. I enjoy snorkelling and sailing, and my last adventure holiday included rock climbing in Oman.

I don't want to retire from something I enjoy.

What's the one thing you were dead certain about in 2019 that you'd now call differently?

Actually, I don't spend much time looking backwards in business.

I prefer to look forward.

One thing I did believe was that gold would eventually be involved in some sort of monetary reset involving cryptocurrency, treasury assets, bonds or something similar.

The world has changed considerably since then, and I'm still watching how that develops.

Any last words for Spaceship Voyager investors, until next time?

I've invested in the Spaceship Universe Portfolio for more than eight years, averaging more than 13% per annum. (Garth's experience is his own and is not representative of typical outcomes. Investing comes with risk and returns aren't guaranteed. Past performance is not a reliable indicator of future performance. Before making any financial decisions, consider whether this is right for you and read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD), available at spaceship.com.au.)

On top of that, I buy US stocks myself and treat it almost like a game — I enjoy trying to outperform the Spaceship team.

I'm also a gold bug at heart, so I hold gold-mining companies.

A few months ago, I was hit hard on that position, but the portfolios have come back and are neck and neck again.

After 52 years in business, one of the biggest lessons I have learned is that people panic when investments fall.

They see their fund drop and immediately want to close their account or sell.

But the long-term, disciplined investor is often the one who comes out ahead.

The people who jump ship during the downturn are often the people who miss a recovery.

My personal rule is simple:

When an investment falls below what I originally paid, if I still believe in the underlying asset, I look at buying more. It works for me, and suits my timeframe and tolerance for risk, but won’t work for everyone.

And perhaps that is the biggest lesson of the last seven years: compound returns, multiple income streams, quality assets and discipline matter far more than trying to predict every short-term move.

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