Financial Autonomy

This 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]

Which 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]

Within 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]

This 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]

This 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]

With 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]

Today I'm talking with Shannon Nutter, Head of Vanguard Super, about the findings from their recent study - How Australia Retires. [Disclaimer] [Website]

For 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]

In 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]

Saving 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]

A 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 visit every country on the planet. This is a wonderful discussion that I'm sure you will love. [Disclaimer] [Website]

This 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. The unsaid element to this question of topping up super, is whether potential tax savings are being squandered through not taking maximum advantage of the superannuation system. [Disclaimer] [Website]

Redundancy. 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 me awake at night, were to occur. Worst-case scenario planning. Once I'm clear on what I would do, even though it's somewhat unpalatable, I find the anxiety goes away. So if the potential for redundancy is something causing you sleepless nights, this week's episode might provide you with a way to take control and move forward with positivity. [Disclaimer] [Website]

This 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]

I 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]

This week we're talking all things financial modeling with Jacob Kettler from Intelliflo. [Disclaimer] [Website]

Often 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 to retiring early, and some reasons why you might like to consider these as part of your plans. If early retirement is the choice in life that you're shooting for, go for it, by all means. But if your deeper goal is to live a happy and healthy life, perhaps these alternatives might provide a viable way forward for you. [Disclaimer] [Website]

This 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 Executive Career Coach, who orchestrated her very own career change 4 years ago. Today she helps people like you and me succeed in their very own career transition. Link: www.katerichardson.co [Disclaimer] [Website]

I 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 around and found a Chanel bag that was to her liking. Apparently she even needed to make an appointment to buy the bag. But when the time came to hand over the credit card and make the purchase, she pulled back. She couldn't bring herself to do it. Spending thousands of dollars on a status symbol just wasn't something that she could do. In this week's episode I wanted to explore the idea of luxury, particularly as it pertains to financial autonomy. Once you've got yourself into a financially secure position, what use do you put that to? [Disclaimer] [Website]

The 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, whilst this is a cool and catchy acronym, most advocates of this philosophy have come to the realisation that the RE portion, the retire early portion that is, is probably misguided. The financial independent piece though, the first half of the acronym is a valid pursuit, and that's certainly something that aligns well with us here at Financial Autonomy. The bulk of the people we work with are in their 40s and 50s, and so that's why this week I thought I'd share with you the key strategy elements we use to help people like you achieve financial independence. I hope you find it useful. [Disclaimer] [Website]

You'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 today's higher interest rates are impacting your share portfolio. [Disclaimer] [Website]

If 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]

This 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]

Given 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 are working, but once you retired you either need your assets to be throwing off income, or else liquidated to be available for spending. In this week's episode we're going to look at a few ways that you, or perhaps an older family member you care for, might be able to solve the problem of being asset rich but cash poor. [Disclaimer] [Website]

As a parent, providing your child with the best possible education is core business. This week I'm talking to Marie Van Asch of Futurity about education funding solutions. This was a great discussion, hope you enjoy it. [Website] [Disclaimer]

It's not uncommon for our clients to want to assist their children to get into the property market. Particularly in our major capital cities, we all know that prices are at levels that make it very difficult to accumulate an appropriate deposit and be able to service the level of debt required. Usually, parental assistance in the property market is achieved through a gift, or a lump sum of money to supercharge the deposit. Sometimes, parents might go guarantor on a loan, with all the risk this entails. Recently I've been working with some clients who have a slightly different take on how they would like to help their kids. In the medium term, they do want to be able to assist their children to get into the property market. But in the short term, their priority is about helping them transition from living in the family home to becoming independent adults. [Website] [Disclaimer]

This week to explore when you should be taking some time to look at your personal insurance. Appropriate insurance is an essential financial safety net, but we want to have the right levels of cover - not too much, and not too little - because insurance costs money, and that's money you can't use for other things like growing your wealth. [Disclaimer] [Website]

The Australian share market has gotten off to a great start this year. Indeed the last 12 months have been fantastic. If you've been following along via the gaining choice email you will know that over the last 12 months, investors in the Australian market have gained around 11% inclusive of dividends whilst those investing in the US market are down about 6.5%, again inclusive of dividends. The ASX's outperformance is a distinct break from what we've seen over the last decade or more. What's going on and will it continue? That's what we'll be discussing in today's episode. [Website] [Disclaimer]

This week joining me on the podcast is Shelley Johnson, who, in addition to hosting the My Millenial Career podcast, recently co-authored a book with a friend of the podcast, Glen James from My Millenial Money. Their new book is called Sort Your Career Out. This is a great fit with our goal of gaining choice, which very often relates to issues around our paid employment - a career change, going back to study, or perhaps taking a sabbatical and doing some travel. So I'm looking forward to having a great discussion with Shelly today. [Website] [Disclaimer]

How can you find the right balance between enjoying life today, and having that wonderful lifestyle, versus the delayed gratification of saving and investing to achieve bigger, long-term goals? That's what we'll explore in this week's Financial Autonomy podcast. [Website] [Disclaimer]

One of the most common reasons for a new client joining us here at Guidance is due to the receipt of an inheritance, whether a traditional one upon the passing of a close family member, or increasingly frequently, an early inheritance where the family member has determined that they have assets in excess of their needs and wish to see their loved ones enjoy the gift during their lifetime. [Disclaimer] [Website]

We're all familiar with traditional investments - stocks, property, term deposits. But there is a whole other universe of investments that get broadly bracketed together as "Alternative" investments. Alternatives could be classic cars, collectibles like guitars, stamps or coins, cryptos, futures funds, private equity, and precious metals. The rationale is diversification, but even more important than diversification is correlation of returns, the idea being that alternative investments operate on different cycles to your other investments. In this episode I chat with Maxwell Nee from UK based Oneo Group about investing in wine and whisky. Important to highlight that our guest represents a company that is not registered or licensed in Australia. The information shared in this podcast is not advice and in no way should it be interpreted that Paul recommends or endorses this company. Link to more details about Wine & Whisky Investing: https://lp.oenogroup.com/aus/

The new year has arrived, you're re-charged, it's time to release the hand brake and get moving! Welcome back to another episode of the Financial Autonomy podcast, where our goal is to help you gain choice in life – perhaps that's the choice to cut back to working 3 days per week, maybe it's making a career change, or being able to retire at 60 and travel around Australia. Whatever the choice it is that you are seeking, this week's episode should help ensure 2023 is a year where you make strong positive strides in the right direction. [Disclaimer] [Website]

Taylor Riley is a young business dynamo having established multiple businesses already, and he hasn't even hit his mid 20's. In this interview, we discuss content creation, the law of reciprocity, and control as a vehicle to gain choice. I'm sure you're going to love this one. [Disclaimer] [Website]

This week's episode is inspired by a real life conundrum that my wife and I are currently facing. With reports of property prices falling we've been wondering whether there might be an opportunity to pick up an investment property at an attractive point in the cycle. The title of this week's episode is precisely the issue we have been tossing around, namely what is a reasonable price to pay for an investment property? [Disclaimer] [Website]

This week I chat with long time listener to the podcast and reader of the GainingCHOICE email, Dan McCutcheon. Dan reached out to me recently sharing his wealth creation journey. I thought it would make a great case study and he kindly agreed to come on and share his experience. [Disclaimer] [Website]

Last week in one of our progress meetings I was asked by a client a very sensible question "why is record-low unemployment a bad thing?" His question arose from a news report that was attempting to explain the economic challenges currently faced and the concerns for 2023 and beyond. One of the explanations offered by the journalist was this "problem" of record low unemployment. But as my client observed, surely everyone having a job is a good thing. A totally reasonable assumption to make. So what's going on? [Disclaimer] [Website]

If we're asked what sort of return should be expected from an investment over the long run the tendency is to rely on the long term average, or perhaps lean on the conservative side and round down a percent or two. The reality however is that from one year to the next there is a high level of variability in returns. Sure, given long enough they may well deliver that long term average that you see published, but in any given year your actual outcome can be vastly different, both positive and negative. Sequencing risk recognises this natural variability in returns year by year. [Disclaimer] [Website]

This week, we cover 3 different ways you could rapidly accelerate your wealth creation to help you to achieve financial independence. For more from us, click here. [Disclaimer]

Every major financial event is also a major psychological event. When you buy a home, change job or career, receive an inheritance, or retire. So this week I'm very excited to welcome psychologist Parris Davenport from Everyday Psychology onto the podcast to explore that intersection between psychology and money a little deeper. [Website] [Disclaimer] Links referenced in the episode: Everyday Psychology National Debt Helpline (1800 007 007) Black Dog Institute

I'm sure you don't need me to tell you that investment markets around the world have been experiencing challenging times over the past year. Shares, bonds, and property, everything is down and there have been few places to hide. So this week I wanted to consider what we could learn from past market declines. What can we take away to help us not only get through this current period, but perhaps even take advantage of the opportunities that might present. [Disclaimer]

Today I'm speaking with Victor Huang Principal and Head of Investment Solutions with Milliman Australia. [Website] [Disclaimer]

In this episode, we discuss franking credits, their purpose, and how they benefit you. [Disclaimer]

I'm joined today by Evan Lucas. Evan has just released a beautifully written book Mind Over Money. It makes a great companion piece for our focus here at Financial Autonomy around gaining choice. In this episode we talk about the impact your personality has on the way that you interact with money, the role of expectations, cultural differences and their impact on money decisions, and plenty more. [Disclaimer]

With markets down at the moment due to interest rate increases, this week I explore how to keep calm when markets aren't doing what we'd like, and how to ensure you don't miss out on any potential opportunities. [Disclaimer]

We knew the rates of last year were temporary, but the speed with which they are snapping back has been surprising. Based on this, I wanted to talk this week about the different potential strategies and opportunities that will arise in a world with rising interest rates. [Disclaimer]

I'm joined today by author and buyers agent Steve Palise. Steve recently released his second book, Residential Property Investing Explained, to complement his first release Commercial Property Investing Explained. But today we're not just talking property, Steve splits his time between Australia and the UK. He's achieved this through two of the three Financial Autonomy pathways that we focus on here. So let's dive in and learn how he's done it. [Disclaimer]

For over 6 years now I've released weekly podcasts and emails exploring the idea of Financial Autonomy and gaining choice. The content is informed by the wonderful clients that we get to work with, many of whom are listeners. I'm constantly learning, and sometimes what you learn contradicts what you thought you knew. This week I wanted to share 3 things I got wrong. There's probably plenty more, but let's start here anyhow. [Disclaimer]

This week we're talking tax. Strategies to minimise tax are often high priorities for those seeking financial planning advice. In this episode, we'll take a look at some of the most common taxes that we as Australians face, pick apart some of the mechanics of how they work, and consider whether it's appropriate to change anything that you currently do to improve your tax outcome. [Disclaimer]

This week I chat with Financial Autonomy community member Mark Hutchins on his journey to financial independence. We discuss minimalism, the related idea of "enough', job share, running a small business, semi-retirement, and Mark's unique Ice Cream FI approach. [Disclaimer]