Financial Autonomy

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]

One of the most common reasons clients engage us through the Financial Autonomy programme is a realisation that all their hard work is not translating into financial wealth and security. It generally seems to be that people in this predicament have put all their energy and focus into developing their careers and therefore just haven't had the headspace to focus on their personal finances. I guess it's similar to the carpenter who's house is falling down or the mechanic who's car chuggs along, smoke pumping out of the exhaust. Now of course everyone's circumstances are different, and therefore the plans that we develop are unique. However in this week's episode I thought I might share with you some of the key things we recommend to help solve this problem for our clients. We want to ensure that their prime working years result in personal wealth, which provides financial security and therefore the choices in life that are of course the overall goal here at Financial Autonomy. [Disclaimer]

This week I chat with Kerry Ware. Kerry and her husband Scott decided to separate when their boys were teenagers. They worked through an amicable separation of the family business and co-operated to ensure the boys lives suffered minimal disruption. Then tragically, Scott was killed in an accident. In this interview Kerry shares some of the challenges faced by women who find themselves single in middle life and how she coped with the tragedy that befell her family. [Disclaimer]

In this episode, I discuss how the investment world has become safer in our modern era. [Disclaimer]

You're busy with your career and personal life. You don't need your wealth creation plan to suck up hours of each week. So how can you best put your earnings capacity to work to secure choices for you down the road, without the plan adding to your already full schedule? This week I'm sharing 7 ideas to help you build wealth efficiently. [Disclaimer]

The entire Financial Autonomy framework was built by reverse engineering how my most successful clients achieved their success. In that vein, today I wanted to share with you two ways in which I've seen moderately wealthy people really take a step forward, with approaches that perhaps go against the conventional wisdom. Maybe you can't use them yourself right now, but an awareness of their application might still assist you as you develop your personal Financial Autonomy plan. [Disclaimer]

This week I chat with Chris Panteli on his transition from fish and chip shop owner to blogger. Chris shares a tonne here on what he's learned, mistakes he's made, and blogging can make you money. Check out Chris's blog at www.lifeupswing.com [Disclaimer]

The financial world is full of acronyms. In today's episode we're going to decipher as many of these as we can find. What's TLA you ask? It stands from Three Letter Acronym and came out of an inside joke in my CBA days (Commonwealth Bank of Australia) pointing t the fact that every major initiative had to be quickly abbreviated to a TLA, causing internal communications to resemble some weird coded language with the odd English word included to give you a clue as to what was going on. Anyhow, today is about helping you make sense of the financial world. Likely, most of these you already know, but I'm hoping that there's one or two in here that you go "huh, I'd always wondered what that meant". Oh, and we're not restricting ourselves to only three-letter acronyms, despite the episode title, we got some two and some four-letter ones too. Hope you enjoy. [Disclaimer]

This week I speak with Scott O'Neill, director from Rethink Investing, buyers agent for commercial property. [Disclaimer]

When it comes to stock market investment, buying is easy, selling is hard. It's interesting how there's always so much talk about exciting new opportunities and yet rarely is the exit plan discussed. Well, let's address this common investment strategy oversight and help you decide when it's time to sell your shares. [Disclaimer]

If you've been listening to this podcast for a while, and certainly if you've read my book, you'll be aware that we adhere to a framework in helping people gain choice. A core element of that framework is the three pathways. The entire Financial Autonomy framework, and in particular these three pathways, are the product of my 20 odd years as a practising financial planner. I've observed how hundreds of Australians have accumulated wealth, and the various ways in which they've used that wealth to impact their lives. The Financial Autonomy framework isn't some theoretical idea that popped out of the ether. I sometimes refer to which of the pathways a particular podcast episode relates during the introduction. I do this in the foolish assumption that everyone listening has read the Financial Autonomy book or at least checked out our website and knows what it is I'm talking about. But of course there will be many listening who have only recently stumbled across the podcast, so let's take a moment in this episode to bring you up to speed on this foundational element of what we do here at Financial Autonomy. [Disclaimer]

In this week's episode, Paul goes through the different asset classes and how they can be used to create an investment portfolio that is right for you. [Disclaimer]

This week I chat with Deferit Co-founder Mat Blas. We discuss the start-up scene in Australia, and Mat's first-hand experience in getting a disruptive new business off the ground. www.deferit.com [Disclaimer]

Receiving an inheritance can often come with plenty of baggage attached. The most obvious is that someone has had to die, usually someone very close to you, for you to be the beneficiary of this financial gift. But the challenges don't end there. Many of the clients I work with engage us following the receipt of an inheritance. We often have discussions around an awareness that a close relative worked hard to build this wealth and as the recipient, there's a weight on the shoulders to not blow it, to not be frivolous. For many people, an inheritance is the first time they have had to make decisions about what to do with large sums of money. Until now all they've had to do is manage their cash flow, pay off the mortgage, perhaps check their super statement once a year, and that's about it. Now they're being asked to make decisions on hundreds of thousands of dollars. It's not surprising that people often get stuck in a state of inertia. Whilst grateful for the gift they have received, the pressure to not screw it up can become overwhelming. [Disclaimer]

In this episode, we talk with Emily Wallace about trends in the property market in Australia. She gives very useful insights into how we as investors, homeowners, or people looking to get into the market may want to position ourselves. [Disclaimer]

After 10 consecutive months of gains, the Australian share market declined in September, heralding a period of volatility that continues today. There is never a single catalyst driving markets, instead, there's a confluence of views that tend to drive either positive or negative momentum. But in this most recent period of volatility, there has been one factor receiving the bulk of the finger-pointing, and that is the bond market. To be specific, it is rising yields and falling bond prices. So this week I wanted to discuss why it is that bond markets can have such a strong influence on the stock market. What it is that drives bond market shifts. And do some crystal ball gazing as to how this relationship might unfold in the months and years ahead. [Disclaimer]

In this episode, I chat with Jillian Johnsrud, host of the Every Day Courage podcast and author of a new book Fire the Haters. The focus of our discussion is the evolution of FIRE. Jillian and her husband retired early and Jillian shares her experiences. Find Jillian on Twitter and Insta: @jillianjohnsrud www.jillianjohnsrud.com/book www.jillianjohnsrud.com/mini [Disclaimer]

A lot has changed in the investment universe over the past 5 years or so, and the SMSF landscape has been particularly impacted. In this episode, Paul discusses the usefulness of self-managed super funds in the current climate. When are they appropriate? When can they be less than ideal? Why are they becoming less common? All this and more will be covered. [Disclaimer]

This week Paul talks to Glen James of the My Millennial Money podcast. Glen has recently released a book - Sort Your Money Out & Get Invested (check it out here), a comprehensive guide to all things money management in Glen's uniquely engaging style. We discuss the Investor vs Saver mindset Glen's "Money House" concept Money Hacks and plenty more. A great fun episode that you're sure to enjoy. [Disclaimer]

In this episode, Paul reveals the steps needed to reach millionaire status. While perhaps not as massive as it used to be, reaching this milestone is still very impressive and worth celebrating. Through the strategies outlined, hopefully it is a status you will be able to achieve. [Disclaimer]

In this episode, Paul talks to Chris Tate about all things trading. Chris is a very insightful, experienced trader so there's a lot to get out of this one. We hope you enjoy! Chris Tate is from Trading Game: https://www.tradinggame.com.au/ [Disclaimer]

Today we're going to explore a strategy element that has application to both the stock and property pathways. We're talking here about gearing. Gearing means borrowing to invest. Gearing is a way to increase your risk, and we know that risk and reward are inextricably linked. We also know that there's no such thing as a free lunch, and higher risk, whilst helpful in providing the potential for higher returns, also comes with the potential for greater loss. So in this piece we will be looking at how you might manage the risk associated with gearing too. [Disclaimer]