Financial Autonomy
373 episodes - English - Latest episode: about 2 months ago - ★★★★★ - 3 ratingsPlenty of books, podcasts and blogs focus on building wealth – and that’s great, as far as it goes. But focusing just on wealth misses the point.
I believe what most of us actually want is to have choice.
Choice in how much time we give to income-producing activities.
Choice about what those income-producing activities are.
Choice about where we live.
Choice about when we retire.
Choice about the ways we use our money to produce happiness.
In the Financial Autonomy podcast, I explore the different ways you can gain choice - from investing in stocks to becoming self-employed, starting a side hustle, or buying an investment property. I share learnings I've gained working with clients for over 20 years as a Certified Financial Planner, and interview others with interesting insights or experiences in gaining choice in life.
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Episodes
Melbourne to Manhattan: A Podcast Pause for a City Change
February 28, 2024 00:00 - 7 minutes - 17.5 MBI started this podcast in 2017 with the desire to put myself out there on what I felt was important in money management and wealth creation, gaining choice. My hope was that in putting that message out into the world, in time I'd attract people to our Financial Planning practice who shared this worldview. It took a while but I'm very pleased that this did indeed work. Why am I taking a break now? There's a few factors. [Website] [Disclaimer]
Am I Too Old to Achieve Financial Autonomy?
February 21, 2024 00:00 - 8 minutes - 19.2 MBIt's not uncommon I find, for people to arrive at the desire to achieve Financial Autonomy in their 40s or 50s. Particularly for those with kids, until this point in life it's largely just been survival mode. Money in equals money out. First it's saving a deposit for a home, then it's getting the mortgage under control. Usually either the first home isn't the forever home, or else renovations and improvements are required. Then you've got the costs of raising children. Layer on top this is...
Exploring Investment Satellites with David Tuckwell of Global X ETF's
February 14, 2024 00:00 - 41 minutes - 95.4 MBIn this episode, we talk with David Tuckwell of Global X about a few interesting potential satellite ETFs. [Website] [Disclaimer]
The Comparison Challenge - Super, Shares, Property
February 07, 2024 05:48 - 10 minutes - 24.2 MBI received a question recently for my Ask an Expert column where the reader was comparing the annual income they received from their investment property, against the growth in the value of this superannuation fund. Their conclusion, looking at the numbers, was that they should sell the investment property and shift all the money to super. But their comparison was flawed on multiple levels. So in this week's podcast I thought I'd talk you through the differences across the main investment o...
The 8 Types of Investment Risk
January 31, 2024 00:00 - 12 minutes - 29.7 MBInvesting is all about risk and reward. In endeavoring to build our wealth and gain choice in life, we take on risk with the expectation that we will be rewarded for taking on that degree of uncertainty. The Oxford Dictionary defines risk as the “possibility of something bad happening at some time in the future”. As investors that typically means a loss of our capital, either partially or in full. We think a lot about the potential rewards and the long-term outcomes that derive from the ...
Buying a Business to Gain Choice
January 24, 2024 00:00 - 9 minutes - 21 MBThe starting point is to consider why you might choose to be a business owner. Certainly it's not the right option for a lot of people. There's risk, extra stress, and a requirement for a broad skill set. A great analogy I think is comparing a decathlete at the Olympics to an athlete in a single pursuit. A decathlete isn't good enough to be a gold medalist in any one single event. But they are better than average across a whole variety of events such that when they combine their results they...
Beyond Local - International Share Diversification
January 17, 2024 00:00 - 11 minutes - 25.3 MBMost of us, when we start investing, will buy Australian shares. We typically gravitate towards businesses that we recognize, perhaps one of the miners, a bank, or a retailer that we walk past at the local shopping centre. Before long we stumble across exchange traded funds, and most people tend to gradually invest more and more in these vehicles over time due to the lower level of mental energy required in making the investments, and their significantly lower level of volatility. Having a...
Making the Most of Stage 3 Tax Cuts
January 10, 2024 03:55 - 9 minutes - 21 MBTax cuts are coming for anyone earning over $45,000 a year. For those earning between $120,000 and $200,000, the changes are particularly meaningful. This week I wanted to explore some strategy considerations you might wish to think about in the lead up to these very significant changes. [Website] [Disclaimer]
Financial Focus Through Life Stages: Building Your Financial Roadmap for 2024
January 03, 2024 00:00 - 5 minutes - 13.4 MBGiven this week's episode is our first for the new year, I thought I'd take a look at the typical areas to focus on with reference to your stage of life. Now of course there's a wide range of normal, so feel free to adapt these thoughts to your own situation. Hopefully, they can help to give you some direction as you make your plans for an amazing 2024. [Website] [Disclaimer]
Inheritances
December 27, 2023 04:21 - 7 minutes - 18.2 MBRecently I've had several planning discussions that centered around inheritances. Despite this common core, each discussion was very different. So in this week’s podcast I thought I'd share with you some of the things I'm seeing, and the discussions I'm having with clients. Perhaps they might help you in navigating this area, which can be challenging, with the emotional elements that are often a feature. [Website] [Disclaimer]
Should We Buy a Holiday House?
December 20, 2023 00:00 - 8 minutes - 20 MBIt's summer and hopefully you're kicking back somewhere, recharging the batteries with plenty of blue sky and sunshine. It's at times like these, perhaps strolling along the beach with our partner, nothing urgent to be done and plenty of time to think, that the thought might pop into our head “wouldn't it be great to spend more time here. I wonder what it costs to buy a holiday house?” Conveniently, real estate agents will have their windows brightly broadcasting all the various potentials...
Having Goals is Not Enough
December 13, 2023 00:00 - 5 minutes - 12.4 MBToday’s post is prompted by two separate discussions I had with new clients this week. In one case, there was a recent inheritance, in the other, the couple had recently paid off their mortgage. In both instances, multiple options existed. I heard about things like home renovations, private school for the kids, cutting back to four days a week, early retirement, buying an investment property, paying off an investment property, going on a big family holiday, topping up super. And on it went. ...
Financial Planning for Parents
December 06, 2023 00:00 - 35 minutes - 82 MBThis week we’re lucky enough to have Ana Kresina, co-hosts of the Get Rich Slow Club podcast. Ana is also the Head of Content and Community at investment app Pearler, and a parent of two small children. Today we are talking financial planning for parents and I’ve asked Ana to join me because she is the author of a book called Kids Ain’t Cheap: How to plan financially for parenthood and your family's future so she’s clearly well and truely across this topic. [Disclaimer] [Website]
Is Super Worth The Risk?
November 29, 2023 00:18 - 6 minutes - 15.7 MBThis week’s podcast is inspired by a question I got for my Ask an Expert column in the Fairfax press. A reader asked whether it was worth adding extra money to super given the balance goes up and down. She can put $5000 in one day, only to see the balance drop by that amount the next, causing her to feel like those savings just got flushed down the toilet. There are several different elements that are important to get your head around in thinking about this question, and the word count l...
What is Factor Investing?
November 22, 2023 00:00 - 8 minutes - 19.6 MBYou've almost certainly heard of index investing, also sometimes called passive investing. Here investment portfolios are constructed to replicate I given a market. The weighting given to each individual stock is determined by the size of each company, its market capitalisation. So for instance in the Australian market, the largest allocation would be to BHP, then Commonwealth Bank, CSL, etc. The main alternative to index or passive investment is active investment. Here fund managers deplo...
Money Mindset
November 15, 2023 00:00 - 28 minutes - 64.4 MBA cancer diagnosis (in the midst of COVID), a career change, and starting a new business. This week I speak with Suzanne Alexander from Mindful Finances about how she helps her clients and the challenging journey she’s been on to accumulate the wisdom she’s now able to impart. [Website] [Disclaimer]
How to Save a House Deposit Whilst Also Paying Rent
November 08, 2023 00:00 - 8 minutes - 19.5 MBOwning your own home is the goal for most of us. The security that comes with owning the roof over your head is a massive stress relief. It’s also almost certainly a good financial move in the long run, as you accumulate wealth through the combination of capital appreciation in the value of your home, and progressively paying down the debt. The challenge typically though, is getting on that first rung of the ladder. Often there isn’t a huge difference between mortgage repayments and rental...
6 Figures in School Hours - The Self-Employment Pathway to Financial Autonomy
November 01, 2023 00:00 - 47 minutes - 109 MBThis week on the podcast I’m joined by Kate Toon, entrepreneur and digital marketing guru. Regular listeners will know that there are 3 pathways to achieving Financial Autonomy - investing in shares, investing in property, and running a business. This week's episode clearly fits into the running a business stream. Financial Autonomy is about having choices in life, and being your own boss can certainly enable that. But running a business is far from simple, which is why I’m very excited...
When Do SMSFs Make Sense?
October 25, 2023 00:00 - 11 minutes - 25.8 MBWhen does it make sense to move your superannuation savings into a Self Managed Super Fund? Is not shifting to an SMSF a wasted opportunity? Who should have a self-managed fund? This week we're going to get you answers to all these questions. So if you've ever wondered whether a Self Managed Super Fund is right for you, hopefully this week's episode we'll set you straight. [Website] [Disclaimer]
Paying off your mortgage ASAP, with Serina Bird
October 18, 2023 00:00 - 31 minutes - 71.5 MBThis week I’m excited to have Serina Bird join me on the podcast. You may have come across her podcast, The Joyful Frugalista. Serina is here to talk about her new book - How to Pay off your mortgage in 10 years. So if paying off your mortgage is on your to-do list, listen up for some great tips and insights. [Website] [Disclaimer]
What Are Annuities and What Role Do They Play in Retirement?
October 11, 2023 00:00 - 7 minutes - 17.7 MBAnnuities are a product most people have heard of but don't know exactly what they are or when to use them. With interest rates returning to more normal levels, annuities are coming out of the deep freeze. So this week I thought I’d take you through the basics of annuities so you have an appreciation for where they might have a use in your financial plan. [Website] [Disclaimer]
Intergenerational wealth transfer with legal expert Bryan Mitchell
October 04, 2023 00:00 - 38 minutes - 88.9 MBThis week we're talking with Bryan Mitchell on all things intergenerational wealth transfer, and looking particularly at the question of whether a gift or a loan is the best way to pass wealth on to the next generation whilst you are still alive. Structuring the transfer of wealth as a loan might provide some level of asset protection in the event of a future divorce, but Bryan explains what is needed for such an arrangement to stand up in court. [Website] [Disclaimer]
Planning for Retirement: Wealth-Building Strategies for Professionals in Their 40s and 50s
September 27, 2023 01:00 - 9 minutes - 22.6 MBAll of us will retire at some point, but with the pressures of mortgage repayments, school fees, and just living, it's common for people to give little thought to retirement planning until well into their 50s. So this week I thought I'd take the opportunity to cover off on a few key fundamentals that we regularly discuss with clients. Hopefully several of these you can tick off as done, but perhaps there are a few you hadn't considered that you might be able to nudge up your to-do list. ...
Property Market Update with Jarrod McCabe
September 20, 2023 01:00 - 28 minutes - 64.9 MBJarrod McCabe is a director at Wakelin Property Advisory. Jarrod was on the podcast a couple of years back sharing his expertise. I’ve invited him back to get a read on the current property market. With interest rates looking like they may have peaked, it’s certainly an interesting time. https://wakelin.com.au/about-us/ [Website] [Disclaimer]
Crushing Debt: A Guide to Paying Off Loans and Building Wealth
September 13, 2023 01:00 - 10 minutes - 24.5 MBIn this episode, we will provide practical advice and techniques for professionals looking to tackle debt effectively, including debt consolidation, budgeting strategies, and tips for accelerating loan repayment. [Disclaimer] [Website]
5 Key Steps to Building Wealth for Professionals in Their Prime
September 06, 2023 01:00 - 9 minutes - 22.2 MBThis week, we provide a step-by-step guide on how professionals can lay a strong foundation for building wealth, including budgeting, saving, investing, and planning for retirement. [Disclaimer] [Website]
$4.5 Million Inheritance Lost in Ink Blot Mess - Talking Estate Planning with Katerina Peiros
August 30, 2023 01:00 - 35 minutes - 81.3 MBThis week I chat with Katerina Peiros, estate planning lawyer from Hartwell Legal, about an interesting case that went through the courts recently. We’ll also have a broader discussion around what you need to be thinking about when making your estate planning arrangements. [Disclaimer] [Website]
50% Return Once, or 8% Per Year for 10 Years - Which Would You Take?
August 23, 2023 01:00 - 4 minutes - 10.7 MBWhich is better? A 50% return once, or an 8% return each year for 10 years? In this episode, we will go over this and the power of compounding. [Disclaimer] [Website]
Where a Passive Income Goal Might Lead you Awry
August 16, 2023 01:00 - 6 minutes - 14.1 MBWithin the financial independence community, the concept of passive income frequently gets a lot of attention. Sometimes though, I find that its overemphasis leads to poor strategy decisions. So this week I wanted to explore where a passive income goal has the potential to lead you awry. [Disclaimer] [Website]
Understanding Risk Profiles: Their Foundational Role in Attaining Financial Autonomy
August 09, 2023 01:00 - 9 minutes - 21.5 MBThis week, we're talking about all things risk profiles. What they are, how they work, what to do when you and your partner's risk profiles conflict, and much more. [Disclaimer] [Website]
The Globe Trotting Career Changer
August 02, 2023 01:00 - 29 minutes - 66.8 MBThis week I chat with Mitch Potter on his financial autonomy journey - travel, starting an apprenticeship in his 30s, investing, and having plenty of fun along the way. [Disclaimer] [Website]
Should I Invest or Leave My Money in Offset
July 26, 2023 00:00 - 5 minutes - 12.6 MBWith mortgage rates having leapt up this past year, the effective return savers receive by parking their money in an offset account is looking increasingly attractive. This has led to a question we're being asked more and more. Should I invest or just leave my money in the offset account? [Disclaimer] [Website]
The Superannuation Landscape with Vanguard's Head of Superannuation Shannon Nutter
July 19, 2023 01:00 - 36 minutes - 84.1 MBToday I’m talking with Shannon Nutter, Head of Vanguard Super, about the findings from their recent study - How Australia Retires. [Disclaimer] [Website]
The Impossible Question – why it’s so hard for investors to decide between shares or property
July 12, 2023 01:00 - 6 minutes - 15.5 MBFor an investor trying to build wealth and achieve financial independence, a question they will inevitably face is whether they should be sending their savings into stock market investments, or paying off an investment property instead. [Website] [Disclaimer]
Around Australia with 4 kids - Gail Richards Shares Her Experience
July 05, 2023 01:00 - 35 minutes - 81.2 MBIn 2012 Gail, her husband, and their 4 young children set off from Melbourne for a 6-month long Australian adventure. In this week’s episode, I ask Gail how she made it possible, what have been the implications since, and what adventures they have planned next. This one is sure to inspire. [Disclaimer] [Website]
Could you be over-saving?
June 28, 2023 01:00 - 7 minutes - 17.1 MBSaving requires forgoing spending today for benefits in the future. Whilst it’s clear that financially, to live entirely in the present with no allowance for the future is unwise, there is the potential to go too far the other way. But how do you know what the right balance is? [Disclaimer] [Website]
Fitting Career Breaks Into a Financial Independence Plan
June 21, 2023 01:00 - 34 minutes - 79 MBA while back I put a call out in the GainCHOICE email asking for readers to reach out if they had a story to share about taking a career break or making a career transition. Several people came back to me, so over the next few months we’ll have a few interviews around this topic. This week is the first of these. I’m chatting with Brenda today, who is in the early stages of a 6-9 month sabbatical. We talk about her Financial independence journey and how she aligns that with her goal to ...
Should I top-up my super?
June 14, 2023 01:00 - 10 minutes - 25.1 MBThis week’s episode is another one inspired by a recent client question, one that we get asked multiple times each year. Should I be topping up my super? The primary motivation in seeking out an answer to this question is to determine whether you're on track to have enough retirement savings for a comfortable and enjoyable later phase of life. But the other element is around tax. There's a general awareness that there are tax savings to be had through using the superannuation system....
Preparing for the Unknown: Tips for Being Ready if You’re Made Redundant
June 07, 2023 01:00 - 9 minutes - 21.8 MBRedundancy. With the Australian economy slowing as the impact of higher interest rates begins to bite, job cuts are likely to accelerate. Layer on top of this the potential impact that artificial intelligence might have on the white-collar workforce of the future, and it's easy to understand why many people are feeling anxious about their employment future. I've found that when I'm feeling anxious, the best way to relieve stress is to identify what I would do if the thing that's keeping ...
Michael Kemp - The Ulysses Contract
May 31, 2023 01:00 - 51 minutes - 119 MBThis week I have the pleasure of welcoming Michael Kemp onto the podcast. Michael's working life has bounced between dentistry and financial markets, sometimes doing both at the same time! For 9 years he was the chief investment analyst for Scott Pape’s newsletter. Michael has recently released his third book - The Ulysses Contact - how to never worry about the share market again. [Website] [Disclaimer]
Why Long Term Investors Must Understand Mean Reversion
May 24, 2023 01:00 - 6 minutes - 15.2 MBI try my best to avoid financial jargon, but “mean reversion” is one piece of jargon well worth being acquainted with. The “mean” is just a fancy way of saying the average. The concept of mean reversion then, is that investments and markets tend to want to pull back to their average over time. This week we’re going to dig into what mean reversion is, and perhaps more importantly, its implications for you as a long term investor. [Disclaimer] [Website]
Financial Modelling and Scenario Analysis with Jacob Kettler
May 17, 2023 01:00 - 31 minutes - 71.1 MBThis week we’re talking all things financial modeling with Jacob Kettler from Intelliflo. [Disclaimer] [Website]
Alternatives to Retiring Early
May 10, 2023 01:00 - 9 minutes - 22.1 MBOften when I ask new clients when they would like to be able to retire the answer is “tomorrow”, with a smile and a chuckle. Retiring as early as possible is seen by many as the pinnacle of financial success. This is interesting, because if you had someone who had been made redundant and was finding it difficult to get back into the workforce - early retirement but not at a time of their choosing - they're unlikely to be in a happy state. This week I want to explore a few alternatives ...
Strategies for Achieving Career Change Success
May 03, 2023 01:00 - 39 minutes - 89.7 MBThis week we’re talking career change. For many of the clients that we work with, the choice being pursued is a career change, usually because the job they’re in is not making them happy. Sometimes it might be following a redundancy. Now our area of expertise is around the finances, so our focus is on how to make the career change possible financially. But there’s a whole lot more to a successful career change than just the dollars. I’m joined this week by Kate Richardson. Kate is an Exe...
What is Luxury?
April 26, 2023 01:00 - 6 minutes - 16 MBI came across a great story recently that got me thinking. A successful woman in her 50s observed that several of her younger colleagues at work, all in their 20s, were furnishing very expensive handbags. She realised that she'd never had a luxury item like that, and if these young folk could afford one, then surely after all these years of work, she could too. She mentioned this to a few friends, and they were all encouraging - splash out, enjoy yourself, you've earned it. She had a look ...
5 Strategies to Achieve Financial Independence in your 40's and 50s
April 19, 2023 01:00 - 14 minutes - 33.2 MBThe focus of our podcast is to help you gain choice through the achievement of what I’ve called Financial Autonomy. A very close cousin of the idea of financial autonomy is Financial Independence. Financial independence is the concept of owning assets that produce income such that it is not necessary for you to engage in paid employment to produce the money you and your family need to live. I'm sure most listeners are familiar with the FIRE acronym. As we've canvassed in past episodes, whi...
4 Ways Higher Interest Rates Impact Your Share Portfolio
April 12, 2023 01:00 - 11 minutes - 25.5 MBYou'd have to have been living on a deserted island for the last 18 months to not know that interest rates have been on the rise. Central banks around the world are endeavouring to return rates to normal levels, following sharp cuts through the pandemic. Normalising rates is not without pain however, as many who bought homes two or three years ago are very well aware right now. But higher interest rates have impacts for investors too. So this week I wanted to dig into four ways in which to...
Navigating Decision-Making: A Guide to Managing Choice
April 05, 2023 01:00 - 8 minutes - 19.3 MBIf you've listened to a few of these podcasts, or read our weekly email, you will know that our core theme is helping you Gain Choice in life. Today's episode covers a few different systems which we can use to make better financial decisions. [Disclaimer] [Website]
6 Core Personal Finance Concepts
March 29, 2023 00:00 - 13 minutes - 30.4 MBThis week we're going to look at 6 core personal finance concepts. These are concepts that it's easy for those of us working in the space to assume everyone understands. It might also be that your understanding of what these terms mean differs from the industry definition. So let's run through these core concepts together and make sure we’re all on the same page. [Disclaimer] [Website]
Solving the Asset Rich, Cash Poor problem at retirement
March 22, 2023 00:00 - 8 minutes - 18.7 MBGiven the large increases seen in property values in recent decades, combined with more and more of us living well into our 90s, the problem of being asset rich and cash poor is becoming increasingly common. Another way to frame this problem is something an old neighbour said to me once, “Paul, you can't eat bricks”. It's great to be financially secure and have significant assets behind you, but you need cash flow to pay the bills and put food on the table. That's easy enough whilst you ...