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Speaker 1: Welcome back to start here, the very special mini series

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Speaker 1: within Sugar Mamma's Fireplay, where I answer your real life

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Speaker 1: money questions with practical, empowering guidance to help you take action,

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Speaker 1: but most importantly, get started. Today's question comes from Jessica.

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Speaker 1: Jessica wrote, I can't. I'd love for you to do

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Speaker 1: an episode on staying on track with debt reduction and

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Speaker 1: rebuilding your super in your forties. My husband and I

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Speaker 1: moved to Australia twelve years ago, so our superinnuation only

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Speaker 1: started then. We have three kids under eight, I've had

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Speaker 1: three maternity leaves, and during COVID I withdrew twenty thousand

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Speaker 1: dollars from my SUPER to put towards our mortgage so

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Speaker 1: that we can move into a bigger home. Whilst it

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Speaker 1: felt right at the time, I regret it Now my

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Speaker 1: husband super is about sixty thousand dollars higher than mine.

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Speaker 1: I'm also working hard to pay off sixty thousand dollars

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Speaker 1: worth of student debt from overseas. This year, I've paid

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Speaker 1: off twenty five thousand dollars, but it's been tough. Mortgage

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Speaker 1: rates have risen, daycare fees are ongoing, and we're just

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Speaker 1: trying to stay focused. I'm forty four and sometimes i

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Speaker 1: feel like I'm playing catch up. My supersit eighty thousand dollars,

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Speaker 1: and I've started salary sacrificing seven hundred and fifty dollars

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Speaker 1: a month to rebuild what I Withdrew. I just want

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Speaker 1: to feel financially independent and secure, to know it's not

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Speaker 1: too late to build a comfortable retirement. All right, Wow,

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Speaker 1: I have so much to say, but before I do,

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Speaker 1: let me just get compliance out of the way. Everything

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Speaker 1: in this episode, of course, is general in nature and

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Speaker 1: for educational purposes only, and of course, always go and

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Speaker 1: get personal advice from a financial planner. All right, let's

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Speaker 1: get back into this because this is a really important episode.

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Speaker 1: I have so much to say, and I'm gonna get

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Speaker 1: a little bit passionate in this episode. First of all, Jessica,

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Speaker 1: you are doing actually so many things, perfectly paying down

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Speaker 1: twenty five thousand dollars in one year whilst raising three

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Speaker 1: kids in a cost of living crisis. That is incredible discipline.

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Speaker 1: And on top of that, you're salary sacrificing into super

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Speaker 1: and not just a small amount of money. You're salary

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Speaker 1: sacrificing seven hundred and fifty dollars per month into super

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Speaker 1: That is amazing, you know, and I would say that

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Speaker 1: is long term financial vision at its absolute best. All right,

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Speaker 1: now that I've made you aware of how well you're doing,

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Speaker 1: and also for everyone else listening to this, please take

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Speaker 1: a moment to give yourself a pat on the back

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Speaker 1: for how hard you are trying. Let's unpack your questions

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Speaker 1: and actually show you and everyone else listening right now

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Speaker 1: why I personally think your forties and for the record,

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Speaker 1: I'm in my forties as well, my mid forties can

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Speaker 1: actually be I think, your most powerful decade to actually

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Speaker 1: create that financial transformation that you are worthy of. So

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Speaker 1: let's get cracking, all right, Okay, let's hit the ground

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Speaker 1: running and waste no time at all. Step one, Please

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Speaker 1: know this, you are definitely not behind. You're actually building

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Speaker 1: from experience. And I say this to everybody in their

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Speaker 1: forties and even in their fifties and beyond. It is

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Speaker 1: so easy to feel like you are late or behind

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Speaker 1: when it comes to building wealth. But the truth is

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Speaker 1: you're not starting from ground zero here. You're actually starting

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Speaker 1: from a huge amount of experience, and you have survived

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Speaker 1: thirteen interest rate rises the painful cost of childcare, and

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Speaker 1: you've got three under eight, so imagining you probably had

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Speaker 1: at least two, maybe even three in daycare all the

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Speaker 1: same time, you've had three major career breaks, and you're

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Speaker 1: also juggling the emotional load of parenting and as a

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Speaker 1: mother of three, it is full on and it is

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Speaker 1: really hard. And you've actually made some really smart wise

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Speaker 1: choices in your life around money, and you know you've

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Speaker 1: moved into a bigger home that hopefully has grown in

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Speaker 1: value with the crazy property prices we're seeing right now,

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Speaker 1: and you know you're clearly prioritizing paying off debt in

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Speaker 1: your life as in an aggressive manner. I mean, twenty

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Speaker 1: five thousand dollars in one year is huge. So can

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Speaker 1: I just take a moment to say what I love

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Speaker 1: about what I've read in this message and what makes

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Speaker 1: me feel really happy and so proud and excited for

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Speaker 1: you is clearly you are not motivated by guilt. You

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Speaker 1: are motivated by purpose and by goals and having a

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Speaker 1: sense of direction. And you've seen, you know how financial

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Speaker 1: struggles can impact people's lives, so you've made it a

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Speaker 1: priority to make sure that you are not a victim

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Speaker 1: that cries poor or wallows and self pity. You're getting

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Speaker 1: on and doing something you've already got started, and you're

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Speaker 1: also creating a very important pattern. Example raw molls to

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Speaker 1: your children as well about being financially resilient. And I

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Speaker 1: think your mindset is a really strong foundation of financial

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Speaker 1: independence that you're already working on and building right now,

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Speaker 1: whether you realize it or not. Now the neck is step.

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Speaker 1: Your superbalance isn't the whole story of your financial situation, Okay.

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Speaker 1: It is very easy to compare superannuation with your partner,

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Speaker 1: with your other family members, with your friends, with your colleagues,

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Speaker 1: with your peers, or even those ridiculous averages or benchmarks

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Speaker 1: that get published in the media every now and again,

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Speaker 1: and you can it's normal to feel down if someone's

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Speaker 1: balance is bigger. But you know, comparison is the thief

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Speaker 1: of joy and it really doesn't actually shed any light

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Speaker 1: on the big picture here. So I wanted you to

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Speaker 1: remember this superannuation is just one piece of your wealth puzzle.

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Speaker 1: You also have a home. You also have seven savings,

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Speaker 1: perhaps in your redoal facility or offset account, and you

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Speaker 1: know you're building your income through working and your career

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Speaker 1: path and when it comes to SUPER, time and consistency

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Speaker 1: is actually what matters far more than what you've got

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Speaker 1: in your superannuation account balance. And of course you know

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Speaker 1: where that money is actually invested. And whilst you may

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Speaker 1: not necessarily have investing right now, which will come to

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Speaker 1: in a second, there might be some investing for you

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Speaker 1: further down the track, especially once that student deb's paid

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Speaker 1: off perhaps, but I'm going to talk about that in

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Speaker 1: more detail. I also want to say this to you.

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Speaker 1: If you contribute seven hundred and fifty dollars per month

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Speaker 1: over the next twenty years, and you're earning an average

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Speaker 1: of say seven percent, and you can stick to that

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Speaker 1: with increasing it with the CPI, you could pretend to

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Speaker 1: have an extra three hundred and ninety to four hundred

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Speaker 1: thousand dollars in your super. Now that's not even factoring

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Speaker 1: in your employer's twelve percent contributions. And the reason why

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Speaker 1: I haven't included that into your nums because I don't

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Speaker 1: know you know what your salary is, and I don't

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Speaker 1: know where that money is actually invested. But you know

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Speaker 1: that does even take into consideration, you know, super that

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Speaker 1: might get paid on bonuses, pay rises or any other

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Speaker 1: additional contributions you may make, so you actually this strategy

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Speaker 1: of salary sacrificing could actually help you exceed your husband's super.

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Speaker 1: But guess what, don't go and compare. This is not

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Speaker 1: a competition. If you start competing with other people, it's

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Speaker 1: a bottomless pit of unhappiness because you'll never feel like

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Speaker 1: you're good enough. The only person you're competing with is yourself,

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Speaker 1: the person you were yesterday, the person you were financially

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Speaker 1: last year. So even if you have started later, and

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Speaker 1: I say this to everyone right now, the key is consistency.

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Speaker 1: Consistently can contributing to your super from your forties all

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Speaker 1: the way through until your sixties or even seventies if

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Speaker 1: you can, because that is what can actually really transform

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Speaker 1: your retirement Outlook, all right, Step three, rebuilding your super strategically.

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Speaker 1: You know I'm tackling this because you've mentioned it so

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Speaker 1: much in your message to me. You are already doing

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Speaker 1: the most powerful strategy that is salary sacrificing. It is

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Speaker 1: tax effective and it significantly helps accelerate the compounding effect.

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Speaker 1: But there are actually a couple other strategies that are

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Speaker 1: worth considering under the advice of a financial planner, and

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Speaker 1: I know, yes I'm a financial planner, but I'm not

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Speaker 1: giving you personal advice here. You need a statement of advice.

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Speaker 1: So here's a couple of ideas for you catch up contributions.

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Speaker 1: This may not be right for you right now, but

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Speaker 1: if you haven't used your full concessional caps in past years,

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Speaker 1: which is currently thirty thousand dollars per financial year, you

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Speaker 1: might be able to carry forward the unused portions for

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Speaker 1: up to five years. And this is a really good

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Speaker 1: way to turbocharge if you like your superannuation. But obviously

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Speaker 1: when your cash flow improves. So this may not necessarily

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Speaker 1: be a priority right now, but it's food for further

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Speaker 1: down the track. And of course, please keep in mind

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Speaker 1: the legislation changes the rules of you know all the

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Speaker 1: fine prints, so get advice. The other thing worth considering

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Speaker 1: is your spouse contribution. Now your partner potentially can contribute

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Speaker 1: it into your super and potentially receive a tax offset.

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Speaker 1: It's not a huge tax soft set, but it's better

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Speaker 1: than nothing, and this can actually help rebalance the Super

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Speaker 1: between two people. Not that it's a competition, but you know,

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Speaker 1: particularly if someone has taken a career break and then

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Speaker 1: of course there's the co contribution, so depending on what

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Speaker 1: you're earning. If you're in a certain income bracket, you

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Speaker 1: might be able to put some money into your superannuation

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Speaker 1: and get the government to put up to five hundred

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Speaker 1: dollars into that to help, but again it depends on

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Speaker 1: your income levels, which I don't have. The other important

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Speaker 1: thing to consider is the investment mix. If your super

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Speaker 1: is in say a balanced or a conservative option, you

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Speaker 1: might want to consider reviewing this and getting some advice

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Speaker 1: to make sure that your investment mix matches your risk

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Speaker 1: profile and your time horizon. With a twenty plus year

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Speaker 1: time horizon and your super which would take you through

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Speaker 1: to your mid sixties, making sure that you have some

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Speaker 1: growth exposure such as international shares, Australian shares and property

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Speaker 1: could actually work in your favor, but of course it

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Speaker 1: does come with risk and volatility, so I would highly

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Speaker 1: recommend going and doing a risk profile and then speaking

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Speaker 1: to your superanneration company and asking them where is my

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Speaker 1: money actually invested. Is it in a balance fund, a

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Speaker 1: growth fund, a high growth fund, and whether you need

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Speaker 1: to actually look at changing that you want your money

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Speaker 1: working as hard as possible for you. The other thing

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Speaker 1: that can take into consideration is your super fun Now,

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Speaker 1: advice is expensive and the cost of running a financial

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Speaker 1: planning firm is expensive, which is, you know, there's a

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Speaker 1: lot of risk involved, there's a lot of compliance involved.

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Speaker 1: But this is why advice costs a lot. And that's

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Speaker 1: not to discredit the value, because I think getting advice

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Speaker 1: is some of one of the best things you can

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Speaker 1: actually do right now, it's something I'm going to strongly recommend,

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Speaker 1: but it may be worth seeing from a financially friendly

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Speaker 1: point of view if your superannuation company offers free general advice,

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Speaker 1: or whether they can actually create some limited advice purely

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Speaker 1: around your super and your superannuation strategy in a cost

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Speaker 1: effective way, so at least you've got your superannuation sorted

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Speaker 1: whilst you're focusing on paying down that debt. I also

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Speaker 1: want to say this something that is important that you

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Speaker 1: take a moment to feel proud of the reason why

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Speaker 1: you could afford to upgrade the family home is because

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Speaker 1: you're the one that took twenty thousand dollars out of

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Speaker 1: your super, not your husband's. And I'm not saying that

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Speaker 1: to undermine or disrespect your husband, but take a moment

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Speaker 1: to go, wow, I may that financial sacrifice so that

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Speaker 1: we could be in a bigger home and think about,

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Speaker 1: you know, well has that home grown in value? You know,

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Speaker 1: what intangible value have I given to my family, my

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Speaker 1: children having a bigger home. You can thank yourself for that.

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Speaker 1: I wouldn't be regretting this necessarily because there's lots of

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Speaker 1: ways that you can make up for it, and it's

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Speaker 1: actually added hopefully a lot of value to your life.

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Speaker 1: And that home has hopefully appreciated and value significantly beyond

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Speaker 1: the twenty thousand dollars that you took out. Even think

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Speaker 1: about the opportunity cost lost. Well, we can get that

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Speaker 1: back up again. I'm sure of it. Now. I want

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Speaker 1: to talk to you about, you know, which is my

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Speaker 1: step four? You could say, is managing this debt without

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Speaker 1: losing I guess, motivation and momentum. So you talked about

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Speaker 1: a student loan and you've already paid twenty five thousand

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Speaker 1: dollars off that, which is incredible progress. And it is

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Speaker 1: okay to feel like things are tough right now, but

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Speaker 1: it is only temporary. Nothing is forever, and you have

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Speaker 1: a finish line, but you just don't realize it yet.

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Speaker 1: So what I want you to do is look at

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Speaker 1: your debt repayments and you can use an extra payment

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Speaker 1: calculator to help this, and there is one on the

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Speaker 1: sugar Mama website which you can use for free, and

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Speaker 1: you can plug in the loan, the interest that you're paying,

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Speaker 1: and the extra payments, and you actually see that you

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Speaker 1: are going to be debt free in maybe twelve months,

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Speaker 1: eighty months, twenty four months, you know, thirty eight months,

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Speaker 1: whatever it may be. But the point is you will

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Speaker 1: actually see that there is light at the end of

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Speaker 1: the tunnel and this debt repayment journey is going to end.

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Speaker 1: And the moment you can see where and when this

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Speaker 1: date is that this student debt will be completely paid off.

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Speaker 1: I want you to make a note in your calendar

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Speaker 1: because that then gives you something tangible to count down towards.

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Speaker 1: You know, if you like, print off the calendar and

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Speaker 1: put it on your fridge and cross off the day

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Speaker 1: so you can see you're getting closer and close to

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Speaker 1: having this debt paid off. And here's the exciting part.

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Speaker 1: Once that loan is paid off, that student loan, all

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Speaker 1: those money, the money that you've been using to pay

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Speaker 1: that off, that extra twenty five thousand dollars a year

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Speaker 1: that is actually money that you can now put towards

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Speaker 1: your wealth building journey, or perhaps helping pay off your

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Speaker 1: mortgage sooner, or perhaps even budding more into super or

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Speaker 1: starting to look at debt recycling and things like that.

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Speaker 1: This is money that's actually going to really efficiently supercharge

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Speaker 1: your wealth creation journey. You know, can go onto the

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Speaker 1: mortgage if you like, and you could start to see

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Speaker 1: your mortgage significantly shrink, particularly an extra twenty five thousand

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Speaker 1: dollars a year on a mortgage. Wow. Or perhaps you

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Speaker 1: want to look at a debt recycling strategy where you

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Speaker 1: convert some of that home equity that you've been building

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Speaker 1: into income producing assets where you don't just own a home,

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Speaker 1: you also own an investment portfolio as well. That's creating

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Speaker 1: passive income, and that debt recycling strategy is also giving

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Speaker 1: you and your husband some tax efficiency as well. Or

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Speaker 1: if you prefer, you know, you might want to just

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Speaker 1: look at paying off your home loan and having some

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Speaker 1: liquidity through your offset account or redraal facility, you know,

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Speaker 1: building up every single day, Or perhaps you just want

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Speaker 1: something really simple, You just want to top up your super,

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Speaker 1: and you're happy with the fact that you know you

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Speaker 1: can't actually touch your super until you can meet a

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Speaker 1: condition of release. But for you, your financial goals are about

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Speaker 1: that retirement, having as much money in superannuation as possible.

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Speaker 1: These are all of the things that you can start

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Speaker 1: really working on and hone in on and amplify and

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Speaker 1: see amazing rewards and returns once that debt's paid off.

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Speaker 1: But you've got to see that there is light at

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Speaker 1: the end of the tunnel, and you've got to know

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Speaker 1: that date is coming. So calculate with everything that you're

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Speaker 1: doing right now to what that date is. And that

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Speaker 1: might even actually spur some ideas to actually make extra

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Speaker 1: payments to bring that date in sooner, whether you do

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Speaker 1: some ad hoc things like extra work or extra financial

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Speaker 1: challenges or selling things to help bring that date. Every

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Speaker 1: time you make an extra payment, though, make sure you

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Speaker 1: update your calendar and see whether that's saved you a

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Speaker 1: month and you're going to be debt free a month

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Speaker 1: sooner or even a year sooner. Just make sure you're

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Speaker 1: fixated on this end date to keep that motivation going

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Speaker 1: all right. Step five, and that is the expensive family years.

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Speaker 1: This is something I think a lot of families, young

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Speaker 1: families like myself, we can get really stuck in because

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Speaker 1: it can feel really draining, overwhelming and even depressing at times.

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Speaker 1: But please know this where we're at, you and I

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Speaker 1: and all the other young families listening to this is

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Speaker 1: it's temporary. I want to remind you to just take

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Speaker 1: a moment and deep breath and pause. Can I remind

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Speaker 1: you that you are raising three young children under eight.

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Speaker 1: That is incredibly expensive. Daycare is painfully expensive. Food. Oh

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Speaker 1: my gosh. I go to the supermarket and I come

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Speaker 1: home and I think, Wow, I just bought all these

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Speaker 1: groceries and that's it, And I find myself, you know,

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Speaker 1: a few days later, I've got to go back again. Clothes.

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Speaker 1: I just bought tigers some new clothes the other day,

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Speaker 1: order to you, about three months ago, and they've already

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Speaker 1: too small. I already going got to get there some

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Speaker 1: new pieces as well. And then there's activities the weekends,

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Speaker 1: you know, going to kids' birthday parties, making sure they've

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Speaker 1: got a gift, the school likeivities, costumes, book week like

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Speaker 1: all of these things. And yes, we all try and

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Speaker 1: do these things in financially friendly ways. But there's sometimes

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Speaker 1: there are just costs, doctor's appointments, specialists, medicine. You know,

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Speaker 1: my son Rocco knocked his tooth out the other night

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Speaker 1: and he had to go and have an emergency dentist

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Speaker 1: appointment to have the tooth extracted. These are just part

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Speaker 1: of life. But it's it's not forever. But I do

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Speaker 1: get that it can feel relentless, but know that this

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Speaker 1: is a season. It's not forever. And we are lucky

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Speaker 1: to have children, and we are lucky to be able

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Speaker 1: to have a family and to be able to give

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Speaker 1: these kids unconditional love and support. And I also want

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Speaker 1: to show you, I guess identify some key turning points

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Speaker 1: when your youngest child starts school and you're not paying

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Speaker 1: daycare anymore. I'm eighteen months away from this myself, and

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Speaker 1: I will be doing cartwheels across the school playground knowing

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Speaker 1: that I never need to pay daycare ever again. The

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Speaker 1: moment you stop paying daycare, you know your financial landscape

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Speaker 1: will change again. There'll be another shift, another breakthrough. And

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Speaker 1: this is a real amazing opportunity, a golden opportunity to

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Speaker 1: take that money that you've been using towards daycare and

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Speaker 1: childcare and redirect it again. You can do the same

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Speaker 1: thing again. You can redirect it towards your SUPER if

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Speaker 1: that's what you want. You can put it towards mortgage repayments,

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Speaker 1: increasing the mortgage of payments and seeing the time and

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Speaker 1: interest you'll save on that. Again, use this Mama extra

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Speaker 1: payment calculators to see how much interest and time you

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Speaker 1: can save. Or perhaps it's time for you to start

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Speaker 1: building your own investment portfolio. You know, look at say

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Speaker 1: five hundred dollars per month or a thousand dollars a month,

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Speaker 1: even if you can afford to and redirect that into

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Speaker 1: an investment portfolio for say ten to fifteen years, and

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Speaker 1: you can see that compounding effect impact in your investment

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Speaker 1: portfolio away from SUPER. That can help supplement your SUPER

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Speaker 1: and your retirement needs. No one ever regrets investing, and

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Speaker 1: I definitely think your future self will thank you for

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Speaker 1: doing this. It can be something you're doing for yourself

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Speaker 1: to help fill your cup, particularly if you're still holding

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Speaker 1: onto that idea that you know your SUPER is behind.

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Speaker 1: And finally, I want you to look at defining some

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Speaker 1: financial freedom goals. I understand that you are feeling a

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Speaker 1: little bit drained, a bit flat, perhaps even a little

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Speaker 1: bit stuck. So I really want to recommend that you

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Speaker 1: create some really clearly defined financial freedom goals. Instead of

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Speaker 1: thinking only about the superannuation balances or the you know

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Speaker 1: what your mortgage is or what your debt is, I

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Speaker 1: want you to start thinking about creating some income based

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Speaker 1: financial goals, that is, passive income based goals. So ask

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Speaker 1: yourself this one question, how much passive income would I

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Speaker 1: need personally or my family need to make sure that

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Speaker 1: we are safe, secure and independent. And then you'll come

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Speaker 1: up with a figure. It might be eighty thousand dollars

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Speaker 1: a year, or one hundred thousand dollars a year, or

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Speaker 1: one hundred and twenty thousand dollars a year. But that

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Speaker 1: number should sit with you and actually make you feel

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Speaker 1: confident and strong and resilient, and you can then go

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Speaker 1: and set a goal for yourself. It might be something like, okay,

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Speaker 1: forty thousand dollars a year in passive income that I

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Speaker 1: want to create. I want to create that forty thousand

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Speaker 1: dollars a year by age sixty. And I want that income,

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Speaker 1: that pass of income to come from dividends or I

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Speaker 1: want that passive income to come from an investment property,

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Speaker 1: or I want that passive income to come from, say

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Speaker 1: my superannuation. You need to get some clearly defined goals

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Speaker 1: to work on, otherwise your financial journey is going to

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Speaker 1: feel meaningless and leave you feeling constantly empty, like you

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Speaker 1: are working so hard but not actually getting anywhere. When

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Speaker 1: you have a goal, you can then compare and see

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Speaker 1: your progress and go, okay, well, I had a goal

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Speaker 1: of forty thousand dollars a year. So far, I've built

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Speaker 1: two thousand dollars a year. I'm five percent of away

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Speaker 1: in that journey. It may seem small, but seeing that

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Speaker 1: first five percent start is an amazing rush of motivation

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Speaker 1: that can build that momentum so you keep going. And

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Speaker 1: once you start, it does compound. It's not two thousand

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Speaker 1: dollars in passive income one year, the next year it's

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Speaker 1: four thousand, three hundred, and then the following year it's

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Speaker 1: seven nine hundred, and the following year it's eleven thousand,

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Speaker 1: eight hundred. You're getting closer and closer to that goal

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Speaker 1: because you can can see that actually the hard work

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Speaker 1: is paying off. It inspires you to keep going. So

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Speaker 1: you've got to track your progress. Track the passive income

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Speaker 1: that you're building, and if you like, include the passive

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Speaker 1: income within your super obviously knowing you can't touch it,

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Speaker 1: but it's part of that financial freedom number that you're

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Speaker 1: working towards. Look up some projections if you like, to

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Speaker 1: see what you can do to help build more income.

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Speaker 1: But my point is you want to have some goals

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Speaker 1: to be working on, including debt goals, and you can

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Speaker 1: then turn your focus around network. You can then change

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Speaker 1: your focus around the debt and the balances to actually

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Speaker 1: a net worth figure and a cash flow freedom number,

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Speaker 1: which is much more tangible in my opinion, and far

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Speaker 1: more motivating, and it's you'll see how you start to

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Speaker 1: actually measure your financial independence in a more tangible way,

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Speaker 1: which gives you so much, many more reasons to actually

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Speaker 1: stay excited and stick to the game plan and financial journey.

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Speaker 1: And then finally, I want you to build a plan

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Speaker 1: for the next five to ten years. To bring this

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Speaker 1: all together. You really do need a roadmap for the

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Speaker 1: next decade. Seeing a financial planner would be the best option.

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Speaker 1: There is no doubt about it. And you are definitely

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Speaker 1: at a crossroad or a point in your life where

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Speaker 1: it is time to invest in a financial plan you know,

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Speaker 1: a f influencer is not going to help even listening

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Speaker 1: to these podcasts. Yes, they're going to help a lot,

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Speaker 1: but they're going to educate you. There is so much

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Speaker 1: more that you could potentially be doing. We are not

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Speaker 1: even scratching the surface here. So yes, I would highly

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Speaker 1: recommend you go and see a financial planner. But in

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Speaker 1: the meantime, if you want keep salary sacrificing and review

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Speaker 1: your superannuation, keep working on that student debt. It is

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Speaker 1: your first major milestone and an important, proud goal to

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Speaker 1: tick off as quickly as possible. The moment that debt

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Speaker 1: is gone, go see a financial planner and speak to

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Speaker 1: a financial planner about what to do in redirecting those payments,

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Speaker 1: what is best for your goals, because you now have goals,

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Speaker 1: clearly defined goals, and they will talk to you about

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Speaker 1: a combination of different stores rategies, or which one you

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Speaker 1: should focus on first as a priority, which ones you

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Speaker 1: can think about later. Way a way of like efficiently

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Speaker 1: creating all such as recycling could be something really powerful

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Speaker 1: for you. They can discuss this with you, or even

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Speaker 1: just setting up a regular investment plan, and of course

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Speaker 1: never stop revisiting your super and if you start investing,

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Speaker 1: you're investing portfolio. And another thing that I haven't mentioned

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Speaker 1: by will just put it in now because it's not

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Speaker 1: the focus of this episode, but make sure you've got

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Speaker 1: some personal insurances in place, protecting your mortgage, protecting your income,

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Speaker 1: protecting your health and well being, and of course protecting

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Speaker 1: your financial stability, particularly as three young children and two

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Speaker 1: working parents. You know, a licensed financial planner is going

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Speaker 1: to model all of these for you and actually help

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Speaker 1: build a really clear path for you to follow to retirement,

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Speaker 1: including the super including investing, including the debt reduction strategy.

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Speaker 1: Your forty is a really about momentum here, and every

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Speaker 1: decision you make right now, every repayment and every investment,

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00:24:01,080 --> 00:24:04,359
Speaker 1: every contribution, and every time you review your strategy, you

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Speaker 1: know it compounds into that financial security and freedom that

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Speaker 1: you are going to enjoy with so much relief and

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Speaker 1: pride later in life. So Jessica please know this, and

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Speaker 1: everybody else listening to this it can relate to what

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Speaker 1: Jessica's asking and what she's talking about. What's I guess

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Speaker 1: pulling her down right now is you are definitely not behind.

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Speaker 1: You are building and I think you're building beautifully. I

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Speaker 1: think you're doing really well. You've got clarity, you've clearly

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00:24:30,359 --> 00:24:33,560
Speaker 1: got discipline, and hopefully now you have purpose and that's

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00:24:33,720 --> 00:24:38,199
Speaker 1: far more valuable than superinnuation, account balances and timing. And

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Speaker 1: the truth is the forties can be your financial power decade.

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Speaker 1: You're earning more, you're wiser, you got more experienced, and

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Speaker 1: hopefully now you've got a financial vision with some passive

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Speaker 1: income goals. So to keep going, get that debt cleared,

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00:24:55,880 --> 00:24:58,520
Speaker 1: grow you're super as you're doing, and redirect that cash

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Speaker 1: flow and let compounding do its magic for you. You're

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Speaker 1: not catching up, you're actually, in my opinion, catching fire.

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Speaker 1: All right, everyone, thank you so much for listening to

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Speaker 1: today's episode. If this episode resonated with you, can you

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00:25:12,160 --> 00:25:15,200
Speaker 1: please go and share it, Send it to five friends

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00:25:15,400 --> 00:25:16,919
Speaker 1: who need to hear this right now, who are in

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00:25:16,960 --> 00:25:20,360
Speaker 1: their forties and feeling a little bit down and frustrated

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Speaker 1: at the moment. I think it will really help them.

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Speaker 1: And if you would like me to answer any of

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Speaker 1: your questions in a future episode of Start Here, please

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00:25:28,760 --> 00:25:31,320
Speaker 1: send me a DM on Instagram at Sugar Mama TV

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00:25:31,520 --> 00:25:33,800
Speaker 1: or Canna Campbell Official Law. You can send me an

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00:25:33,840 --> 00:25:38,280
Speaker 1: email in the podcast notes. I'll see you next time

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00:25:38,359 --> 00:25:42,280
Speaker 1: on Sugar Mamma's Fireplay every Monday morning at five am,

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Speaker 1: and of course start here every Friday morning at five am.

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Speaker 1: Chawfinow