Financial Autonomy

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]

Your superannuation is likely to grow to be either your largest, or second largest asset, so it's worth making sure you understand how it works. In this week's episode I explore the different contribution types you can make into super, and they benefit you in the long run. [Disclaimer]

This week, we're talking with accountant Shaun Farrugia about Family Trusts - who are they most useful for, what do they cost, how can they be used, when should they be closed, and plenty more. [Disclaimer] Optimised Accounting

Why do people worry about their financial future, and what simple ideas can you implement to alleviate at least some of that worry? That's our focus for today's episode, where we look at how to de-stress your personal finances. [Disclaimer]

This week I chat with Glen James from My Millennial Money. He's just wrapping up an Australian roadshow travelling right across our wide brown expanse. So I'm keen to learn what he's hearing, what is on people's minds right now? From interest rates to investment timing and long-term goals, it's always fun to chat with Glen. [Disclaimer] My Millennial Money

Whether it's packing up the family and doing a road trip around Australia, taking some time off to focus on your postgraduate studies, or just recharging the batteries with a few months on the Greek Islands, some sort of mid-career sabbatical is on the agenda for many of the people that we work with. In this week's episode, I want to explore some of the planning actions you can take to help make this goal achievable. [Disclaimer]

We're all so caught up in being financially responsible and planning for a successful financial future, however, sometimes this can get in the way of living our lives. In this episode, we explore how we can strike a balance between being responsible with our money while also enjoying life throughout the process. [Disclaimer]

It's easy to think about progress in terms of technological progress, but in this episode, I want to talk about the social progress we have made and how that has allowed us to go after our Financial Autonomy dreams. [Disclaimer]

We didn't have a new episode this week, but, we thought you may enjoy this one from the vault which covers some of the steps you can take to help you move to self-employment. We are joined today by Shaun Farrugia from Optimised Accounting and Finance to talk about the essential things you need when you move to self-employment. In this episode we cover the challenges and knowledge Shaun shares about being self-employed: Getting the clarity of knowing why you need to move to self-employment. Keeping the proper financial record and the challenges encountered with record keeping. The capital and survival strategies whilst building your new business. Tax and accounting tips. Putting aside enough money for tax. Understanding your own break-even point. [Disclaimer]

In this episode, Paul talks about how financial advice is regulated in Australia and what this means for Guidance in terms of the advice he provides. [Disclaimer]

Today I'm chatting with David Foster who's a member of the Financial Autonomy community. He reached out to me after a podcast episode a little while back - 50% more weekend for 20% less pay. David emailed me to say he'd done exactly that and I asked if he'd be prepared to share his experience. Luckily for us, he said yes. [Disclaimer]

In this episode, Paul delves into various strategies he uses with clients to enable them to afford private education for their children as well as offer how he and his wife achieved this goal. [Disclaimer]

This week, Paul talks with David Scollon, author of the book Mission Possible. (Available here) [Disclaimer]

You're likely paying for some life insurance in your super fund. Why have insurance, optimal ownership, and how you might reduce the costs? All that and more in this week's episode. [Disclaimer]

This week it's our 5th birthday! I have a bit of a reflection on how the show has developed through the years and answer some listener questions. [Disclaimer]

As the working world returns to normality one change I'm hearing about from several different clients is a decision to accept less pay in exchange for working four days a week. One client who made this change recently was telling me how wonderful it is to have about 6 hours in the middle of the day completely to herself. The house is quiet, nobody needs you, you just get peace. It's had such a positive benefit on her mental health that she has now convinced her husband to make the same change. Perhaps cutting back your working hours is something you've contemplated. In this week's episode, I wanted to explore that a little, dig into some numbers, as best we can in an audio piece, and consider strategies to address the longer-term impacts of making this change. [Disclaimer]

In this episode, I talk with buyer's agent Arjun Paliwal from the Property Nerds Podcast about all things property. What is the data telling us, what impact will rising interest rates have, and how will the change of government impact the market? [Disclaimer]

Interest rates are on the rise. NZ, Canada, the UK, and the United States, have all started bringing rates back to more normal levels, whilst our Reserve Bank followed suit earlier this month. For those with debt, we've all enjoyed the incredibly low interest rates of the past few years. But all good things must come to an end. And for those with savings, they are quite likely looking forward to getting more reasonable returns on their money. [Disclaimer]

Most of us recognise that interest rates were unusually low for a time, to counter the economic effect of the COVID pandemic. We recognised that at some point they would return to normal. But what is normal, why are they going up now, and why has this got share and property markets so rattled? One word - inflation. Inflation is all over the news at the moment. In financial markets, inflation has been the driving force for at least the past 6 months. So this week I thought we do a quick inflation 101 session to ensure you understand why it matters and perhaps consider whether there's anything you should be doing to stay ahead. [Disclaimer]

This week I chat with Matt from the Aussie Firebug blog and podcast. We talk about financial independence, travel, lifestyle planning, and retirement. Check out Matt's blog here: Aussie Firebug | Financial Independence Retire Early [Disclaimer]

Should I be putting my savings in an offset account, or paying it straight off the loan and accessing via a redraw if I need it? This is a question I get asked pretty regularly, so perhaps it's on your mind too. [Disclaimer]

Today I chat with Sydney based mortgage broker and former financial planner Chris Bates about all things property and how we can maximise our wealth through investing in property. [Disclaimer] Wealthful

This week's episode arises from a question I received from Daniel around uneven super balances between him and his spouse. Now I don't know Daniel's full situation and a podcast isn't the place to provide detailed strategy recommendations, however, his question is an issue that many people face where one member of a couple has significantly more super than the other, so this week I thought we'd explore strategies you could use if this is a problem you face. [Disclaimer]

This week I chat with Money Coach Hannah Richards about what Money Coaches do and how they help people in achieving their money goals. Hannah Rose Richards Money Coaching [Disclaimer]

More Australians than ever have become investors as the combination of anemic interest rates on bank savings, and reduced spending during COVID-induced lockdowns have presented an unprecedented opportunity. But as we've seen in the past couple of months, investment markets don't always go up, prompting some new investors to question their approach. [Disclaimer]

How do we juggle the desire to save for the future, with the need to live life to the fullest today? Is 6 months of backpacking around Europe in your 20's more valuable than being able to buy a beach house in your 50s? Is pushing hard on the mortgage today the wisest course, or would you be better off easing up a bit and spending a little more on the family holidays? This is the question we'll be tackling in today's episode of the Financial Autonomy Podcast [Disclaimer]

This podcast is about gaining choice. Our guest today is a podcasting friend of mine who has gained choice through changing her career trajectory to get into an area of personal interest. Normally it's Nic doing the interviewing, so today we'll see how she goes in the role of podcast guest. [Disclaimer]

There is always a degree of volatility on investment markets. But there are times when world events raise the level of worry and uncertainty, causing markets to seesaw, sometimes violently, from one day to the next. As investors, this sort of activity doesn't put us in our happy place. A slow and steady upward climb is what we'd all like to see. This week let's take a look at some investing fundamentals and how they apply during periods of heightened volatility. I'm hoping they help dial back any anxiety you are currently feeling about your investments. [Disclaimer]

Nearly every client I work with who has children give some thought to how they might help them out in adulthood. For those with young or teenage children, the thoughts are often around assisting them into the property market via a lump sum gift to bolster their potential deposit. For clients whose children are beyond this milestone, considerations around early inheritances commonly crop up. Where parents perhaps in their 70s or beyond can see that they comfortably have their retirement needs met, they are often thinking about distributing some of their wealth amongst their family today rather than leaving it all for when they're gone. But dealing with this intergenerational wealth transfer comes with some potential problems for both the giver and the recipient. In this episode, I'm going to share with you a few of those challenges that I've seen. Perhaps these examples will help you in navigating this potentially tricky area. [Disclaimer]

In this week's episode, I break down how some of our clients have used the incredibly generous capital gains tax exemption for primary residences. [Disclaimer]