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Speaker 1: Good morning, everyone, and welcome back to another episode of

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Speaker 1: Sugar Mama's Fireplay, the podcast where we ignite your financial motivation,

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Speaker 1: your financial knowledge, and your financial success so that together

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Speaker 1: we can build realistic, long term, sustainable financial freedom and independence.

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Speaker 1: I am your host, financial planner, Cannah Campbell, and I'm

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Speaker 1: so grateful that you're joining me today because this is

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Speaker 1: a really important episode. You see, I've been wanting to

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Speaker 1: talk to you about something that has been concerning me

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Speaker 1: for years. That is, the things that really worry me

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Speaker 1: as a financial planner when I look at the financial

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Speaker 1: wellbeing of our country. So let us begin today's episode

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Speaker 1: because I think you're going to find this incredibly enrond. Now, everyone,

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Speaker 1: before we begin, I just need to quickly clarify something.

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Speaker 1: This episod so it is not about fear mongering or

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Speaker 1: scaring you. It's actually about awareness. It's about bringing these

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Speaker 1: concerns to light from my experience as a financial plan

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Speaker 1: and obviously my education. And when I say experience, I'm

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Speaker 1: talking about professionally as well as personally, and I really

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Speaker 1: want to bring these worries, these suspicions, these I guess

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Speaker 1: gout feelings, well feelings in my gut, I should say,

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Speaker 1: so that you can to identify them if they come

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Speaker 1: your way. And then, of course, because you have this

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Speaker 1: awareness of this understanding, you can decide if you want

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Speaker 1: to or if you need to do something about it,

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Speaker 1: perhaps navigate these risks, navigate safely around these risks, or

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Speaker 1: even protect other people and obviously protect yourself and your

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Speaker 1: own financial wellbeing. And I really actually wish, deep down

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Speaker 1: that I had actually recorded this episode three years ago.

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Speaker 1: It is one of my biggest worries actually came true.

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Speaker 1: So now as I sit here, I'm hoping that in ten, fifteen,

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Speaker 1: twenty years time, I've actually been proven wrong. These things

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Speaker 1: actually never happen. But if not, instead, my hope is

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Speaker 1: that you've listened to this, you've watched for the signs,

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Speaker 1: you've done something about it when you've seen those signs

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Speaker 1: if you needed to.

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Speaker 2: So together, let's.

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Speaker 1: Jump on and talk about my five financial worries for Australia. Now,

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Speaker 1: as always a quick reminder that my content, as you know,

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Speaker 1: is general in nature, owns purely for educational purposes. Whilst

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Speaker 1: we might be chatting about something that sounds like a

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Speaker 1: brilliant idea, something really powerful that could add a lot

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Speaker 1: of value to your financial journey. There actually is a

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Speaker 1: chance there might be something even better you could do,

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Speaker 1: or something you could do in combination with this to

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Speaker 1: really enhance the effect and the impact of that strategy

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Speaker 1: in your life. So this is why I always say,

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Speaker 1: go get financial advice, that is personal financial advice from

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Speaker 1: a financial planner, and get them to create formal recommendations

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Speaker 1: called a statement of advice. All right, let's get started.

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Speaker 1: Are things that I worry about as a financial planner

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Speaker 1: for all Australians. Number one, I worry that we are

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Speaker 1: really underestimating how much we actually need in superannuation to retire.

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Speaker 1: One of the biggest mistakes I see people is underestimating

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Speaker 1: how much they need to retire comfortably. Many people compare

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Speaker 1: their superannuation balance to the average numbers that the media

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Speaker 1: pull out and they think, oh, well, look I've got

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Speaker 1: about just under or maybe even just over.

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Speaker 2: You know what the media say.

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Speaker 1: Is the average, So I'm doing okay. But the problem

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Speaker 1: is is that average doesn't necessarily provide the quality of

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Speaker 1: life that you might want in retirement, and you may

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Speaker 1: not actually realize that that average actually is a pretty

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Speaker 1: miserable existence. People often say to me, you know what, Canna,

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Speaker 1: I could easily live off fifty thousand dollars a year

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Speaker 1: in retirement, but they forget about inflation. That's fifty thousand

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Speaker 1: dollars today, and they forgere get about the rising cost

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Speaker 1: of living. So, for example, fifty thousand dollars may seem

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Speaker 1: like a lot of money today, but that's not going

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Speaker 1: to be fifty thousand dollars in fifteen years time when

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Speaker 1: you go to retire. And even if you look at

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Speaker 1: a modest inflation rate of two point five percent per annum,

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Speaker 1: that fifty thousand dollars means you're actually going to need

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Speaker 1: close to seventy five thousand dollars just to have the

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Speaker 1: same purchasing power that you have today. So if thinking whoa, okay,

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Speaker 1: that's a lot more than I realize. And then if

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Speaker 1: you're aiming for say one hundred thousand dollars today, that's

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Speaker 1: actually going to be about one hundred and forty one

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Speaker 1: thousand dollars and fifteen years time, and that's not even

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Speaker 1: factoring any taxes. So what can you do? All right,

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Speaker 1: you need to know your numbers. This is how we're

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Speaker 1: going to avoid this risk. This is going to how

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Speaker 1: we're going to create the awareness so that you actually

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Speaker 1: know how much you need and you don't fall victim

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Speaker 1: to other people's averages. So I recommend use the free

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Speaker 1: calculators on the Sugar Mama website to work out exactly

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Speaker 1: what you need, not what the average person needs. Think

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Speaker 1: about all the thing you want in your retirement, things

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Speaker 1: like travel, things like wear and tear of your appliances,

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Speaker 1: you know, upgrading washing machines and fridges and dishwashers that

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Speaker 1: often last four or five years if we're lucky, Things

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Speaker 1: that need to be replaced, like you might need to

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Speaker 1: upgrade your car, say every seven or eight years during retirement.

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Speaker 1: Perhaps there's some additional healthcare expenses that might be a

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Speaker 1: risk for you, or might something you ought to be

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Speaker 1: able to account for during retirement. And then round that

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Speaker 1: number up by ten percent to give yourself a safe buffer.

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Speaker 1: As I said, awareness and then preparation here are key.

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Speaker 1: Also quickly, on that note of taxes, we haven't even

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Speaker 1: factored taxes into this particular income. So depending on the

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Speaker 1: source of your retirement income, you'll need to potentially factor

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Speaker 1: in taxes And keep in mind whilst the moment, most

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Speaker 1: retirees or self funded retirees over a certain age may

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Speaker 1: receive a tax free allocated pension. Be aware that that

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Speaker 1: legislation may change over time. So again, we really need

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Speaker 1: to up the anti when it comes to working out

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Speaker 1: exactly how much we need not have a comfortable, secure

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Speaker 1: and safe retirement alright. Number two, I really worry that

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Speaker 1: we are loading ourselves up with the wrong type of debt.

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Speaker 1: Australians love their homes and I'm in the same boat.

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Speaker 1: I love my home, but with property prices being so high,

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Speaker 1: most of us carry large mortgages, which unfortunately at the moment,

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Speaker 1: is just unavoidable.

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Speaker 2: But here's the issue.

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Speaker 1: We are spending so much over our incomes paying down

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Speaker 1: the mortgage that we don't even leave any money left

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Speaker 1: over to be able to invest for diversification and other

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Speaker 1: assets that we could acquire along the way that could

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Speaker 1: help build us that passive income, which obviously is the

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Speaker 1: ultimate source of financial independence. Now, I am not here

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Speaker 1: to say don't go and waste your money and buy

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Speaker 1: a home and have a mortgage.

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Speaker 2: Far from it.

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Speaker 1: That is your and I have a mortgage to myself.

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Speaker 1: I have a mortgage which I'm trying to pay off.

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Speaker 1: But what I worry about is when people don't have

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Speaker 1: a strategy to try and pay off their mortgage sooner

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Speaker 1: or to leverage their equity within their home to actually

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Speaker 1: build wealth, such as a debt recycling strategy. So, for example,

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Speaker 1: using equity to invest can be really powerful when done

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Speaker 1: responsibly and with the right type of guidance from a

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Speaker 1: great mortgage broker and a financial planner and even obviously

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Speaker 1: an accountant there as well.

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Speaker 2: Alternatively, if you do not like.

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Speaker 1: The sound of a debt recycling strategy, which is perfectly fine,

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Speaker 1: it's definitely not for everyone because it is a high

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Speaker 1: risk strategy.

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Speaker 2: You might not think about a.

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Speaker 1: Way to invest and pay off your mortgage at the

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Speaker 1: same time, but this does need to be managed carefully

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Speaker 1: and at.

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Speaker 2: The right time.

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Speaker 1: Use the first five years on your mortgage if you can,

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Speaker 1: to make great headwind, because this is when the impact

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Speaker 1: of those extra little payments extra hundred dollars per month

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Speaker 1: or two hundred dollars per week or whatever you can

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Speaker 1: be potentially afford. This is when you have the biggest

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Speaker 1: impact in saving the most amount of time, the most

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Speaker 1: amount of interest. Rather than thinking, oh, okay, i'll address

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Speaker 1: my mortgage reduction goals in five years time. In the meantime,

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Speaker 1: it's going to live life and love it. You've got

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Speaker 1: to find that sweet spot for you where you can

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Speaker 1: actually see and understand what the impact and benefit is

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Speaker 1: to making those extra payments.

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Speaker 2: And of course the moment you.

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Speaker 1: Get to the stage where you go, you know what,

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Speaker 1: our mortgage is coming down quickly. I'm really proud to

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Speaker 1: see the progress I'm making. Perhaps now is the time

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Speaker 1: to look at a regular investment strategy. And so many

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Speaker 1: of these investment platforms such as Moomo for example, who

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Speaker 1: I've worked with previously, you can start investing with as

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Speaker 1: little as ten dollars per week. So really make sure

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Speaker 1: you have your eye over your whole entire financial situation

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Speaker 1: as you pay for your mortgage, but you also have

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Speaker 1: your finger on the pulse as to when it is

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Speaker 1: ready and right for you to start investing so you

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Speaker 1: diversify your wealth. You never want to wake up one

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Speaker 1: day and go, great, I've paid off my home, but

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Speaker 1: I'm not going to retire, but I have nothing else

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Speaker 1: to live off then just some money and superannuation. Don't

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Speaker 1: fall victim to that. So what's my key takeaway here? Well,

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Speaker 1: get advice have a plan to try and pay for

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Speaker 1: your mortgage as fast as you can. Make sure you're

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Speaker 1: reviewing your strategy, your progress, and of course make those adjustments.

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Speaker 2: And tweaks as required.

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Speaker 1: No financial plan is set in stone and that's what

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Speaker 1: you're going to follow for the next twenty years. I

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Speaker 1: am constantly adjusting and changing our own financial plan because

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Speaker 1: our situation evolves and changes, and things that word to

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Speaker 1: priority suddenly become a priority.

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Speaker 2: That is normal.

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Speaker 1: But make sure you have a really clear understanding as

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Speaker 1: to what you could potentially do within your current income

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Speaker 1: and living expenses to try and make little headwinds along

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Speaker 1: the way of your mortgage and so that you can

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Speaker 1: allow the space to start investing. See that toxic debt

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Speaker 1: coming down and if you can consider get advice around

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Speaker 1: a debt recycling strategy. Learning how to enjoy the best

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Speaker 1: of both worlds, that is, paying off your home loan

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Speaker 1: and also building wealth through diversified investments is key here

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Speaker 1: if you want to avoid this worry. Worry number three

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Speaker 1: being underin shored. So I'm talking about personal insurances here.

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Speaker 1: Most Australians are under insured and the statistics around this

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Speaker 1: are alarming. But as I said, I'm not going to

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Speaker 1: be talking about scary, frightening things right now. I want

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Speaker 1: to talk about awareness. Now, many people don't actually have insurance.

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Speaker 1: I'm talking personal insurance, so income protection, which I think

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Speaker 1: is the number one most important insurance to have, and

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Speaker 1: for the record, I recommend that people are insured to

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Speaker 1: age sixty five, not.

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Speaker 2: Just a two year benefit period.

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Speaker 1: There's also obviously trauma cover that pays a lump sum

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Speaker 1: tax free.

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Speaker 2: If you were to be diagnosed.

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Speaker 1: With a cancer, or a stroke, heart attack, anything sort

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Speaker 1: of a major medical trauma, then there's obviously total impermit

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Speaker 1: disablemented insurance and life insurance. Now, this is in my mind,

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Speaker 1: as a financial planner, completely irresponsible and danger not to

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Speaker 1: have at least looked at these types of cover and

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Speaker 1: whether they are appropriate to you. If you get sick,

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Speaker 1: if you have an accident and you can't work, you

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Speaker 1: might have to rely on the government or have to

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Speaker 1: rely on family and friends to support you.

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Speaker 2: Just jump on the go fund me pages and.

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Speaker 1: You'll see so many people who clearly didn't have insurance

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Speaker 1: in place and they have had to rely on donations.

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Speaker 1: By having the right insurance policies in place could help

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Speaker 1: you remain financially stable, and yes, I get it. We're

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Speaker 1: all on type budgets right now, and insurance can be expensive,

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Speaker 1: but some policies can actually be structured through your superannuation

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Speaker 1: and you can even talk to your employer about potentially

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Speaker 1: helping cover some of your insurances as part of your

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Speaker 1: remuneration package. I have to say I've seen more and

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Speaker 1: more corporations actually pay for their staff's income protection, life

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Speaker 1: and TPD cover as part of their overall package. So

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Speaker 1: have those conversations with your boss, with your pay or

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Speaker 1: with your h team.

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Speaker 2: And see if that's something that could be factored in.

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Speaker 2: So once you've had a look.

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Speaker 1: At your financial situation, and ask yourself those questions, how

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Speaker 1: long could I survive financially if I couldn't work, I

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Speaker 1: had to take three months off work to do a

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Speaker 1: special treatment. Would I be drowning in debt? Would I

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Speaker 1: lose all my emergency money? Would I have to forego

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Speaker 1: my home deposit savings? Ask yourself those questions again, this

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Speaker 1: is about awareness. If your answers or solutions to these

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Speaker 1: questions don't make you feel proud, don't make you feel comfortable,

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Speaker 1: feel like a disaster. This is when you need to

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Speaker 1: go and speak to a financial planner or an insurance

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Speaker 1: broker and get some advices to what is the most

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Speaker 1: cost efflective way to protect your financial wellbeing with personal insurance.

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Speaker 1: I've said this before. I have all of these policies myself.

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Speaker 1: I took MAP when I was in my early twenties,

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Speaker 1: and they are non negotiables in our budget. We cannot

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Speaker 1: afford to damage all of the hard work we've put

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Speaker 1: into building our financial wellbeing. And I promise you this,

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Speaker 1: you will sleep so much better at night now. Another

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Speaker 1: quick point I want to put in about insurance is

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Speaker 1: occasionally people said to me, yeah, I thought about income protection,

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Speaker 1: but you know, if I have an accident, there's workers compensation. Yes,

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Speaker 1: you might have workers compensation, but that only covers you

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Speaker 1: when you're on your way to work or you're at work.

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Speaker 1: What happens if you're in an accident on the weekend,

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Speaker 1: or at the week or during the week, when you're

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Speaker 1: out and about doing something personal that's not related to work,

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Speaker 1: Or what happens if you get sick. Yes, you might

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Speaker 1: have annual levs, you might have some sickly give. You

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Speaker 1: might even be lucky enough to have long service leave

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Speaker 1: but again that can only take you so far. And

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Speaker 1: trust me on this, you will sleep so much better

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Speaker 1: knowing that you have some form of a financial safety

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Speaker 1: net in place that will protect you your financial goals

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Speaker 1: and of course all your loved ones around you.

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Speaker 2: So have a good, long, hard look of what you've got.

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Speaker 1: In place and where there are gaps where personal insurance

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Speaker 1: policies may help give you an extra level of comfort,

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Speaker 1: support and protection. Worrying number four not having enough emergency money.

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Speaker 2: And I put my hand up with this.

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Speaker 1: I am completely guilty of this from twenty twenty four.

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Speaker 1: So you may not know this, but around forty percent

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Speaker 1: of Australians can't cover an unexpected expense in an emergency

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Speaker 1: without borrowing money, either through buy now, pay later through

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Speaker 1: a credit card, or through borrowing money off family and friends.

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Speaker 1: And when I had a JASEPPI, my twelve year old

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Speaker 1: chocol labrator, got sick year before last, I was sitting

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Speaker 1: in the emergency vets and I was amazed as to

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Speaker 1: how many advertisements for buy now, Pay later we're in

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Speaker 1: that emergency room.

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Speaker 2: It made me realize, Wow, we don't even.

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Speaker 1: Enough money to actually be able to afford to cover

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Speaker 1: an emergency trip to the vet. That's what people are

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Speaker 1: having to rely on as their form of emergency protection.

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Speaker 1: And also I was reading the other day that according

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Speaker 1: to Combank one and three, Australians don't even have five

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Speaker 1: hundred dollars available in a savings account, terrifying. Everybody needs

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Speaker 1: emergency money, no matter how rich or how poor you are.

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Speaker 2: Now there is no.

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Speaker 1: Magical formula to work out how much emergency money you need.

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Speaker 1: Everyone is in different situations, with different responsibilities and also

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Speaker 1: different comfort levels. If I had to pick though a

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Speaker 1: minimum level of emergency money for the average person, and

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Speaker 1: I say's a very loose number.

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Speaker 2: And I don't really feel that comfortable saying this, but

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Speaker 2: I would say, is.

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Speaker 1: An absolute minimum emergency money minimum? It's ten thousand dollars,

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Speaker 1: and even that I think is just stupidly low. But

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Speaker 1: if you think, oh, I can get away with three

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Speaker 1: thousand dollars or four thousand dollars emergency money, I would

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Speaker 1: be feeling very concerned, very.

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Speaker 2: Worried as I looked at you as you were telling

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Speaker 2: me this.

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Speaker 1: So if you want to work out what the right

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Speaker 1: amount is for you, think about your life, think about.

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Speaker 2: The real risks you face.

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Speaker 1: For example, you might have a family member that's not

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Speaker 1: very well and needs additional medical treatment or may need

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Speaker 1: to take time off from work. You might have a

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Speaker 1: animal that's getting older and you know that they're going

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Speaker 1: to start needing expensive medication, or potentially you know, a

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Speaker 1: life saving operation that may not necessarily be covered by

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Speaker 1: pet insurance. You know, you might think about you've got

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Speaker 1: a family member that lives overseas, or you may live

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Speaker 1: away from your family. Think if there's an emergency, I'd

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Speaker 1: have to take two weeks off work, I'd have to

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Speaker 1: jump on a flight, I'd have to pay for accommodation,

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Speaker 1: spending money. These are the things you need to sort

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Speaker 1: of think about. Or perhaps you're self employed, you're part

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Speaker 1: of the gig economy, you don't have any long service leave,

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Speaker 1: annually sick leave entitlements. You're going to need a lot

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Speaker 1: more emergency money than someone who has, you know, a

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Speaker 1: pay as you go a job and a you know,

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Speaker 1: comfortable salary with that additional security net of annually even

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Speaker 1: sick leave to potentially rely on to cover you for

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Speaker 1: a few days. So look at the cost of things

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Speaker 1: that could impact you and add up the cost of

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Speaker 1: say three most expensive potential emergencies. Now, when you've added

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Speaker 1: them up and looked to that total, that's a really

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Speaker 1: good starting point for you to base your emergency money on.

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Speaker 1: And I would strongly recommend keeping your emergency money in

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Speaker 1: a separate account so that you can avoid the temptation

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Speaker 1: to go and spend it or tap into it or

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Speaker 1: occasionally withdraw from it the things that aren't technically an emergency.

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Speaker 1: And if you have a mortgage, consider using your emergency

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Speaker 1: money via an offset account or redoor facility, so at

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Speaker 1: least in the meantime whilst there are no problems so

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Speaker 1: dramas no emergencies, that money that savings can save you

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Speaker 1: interest and time off your home loan, whilst obviously always being.

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Speaker 2: Accessible for you.

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Speaker 1: Now, if you ever want to know how to do

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Speaker 1: a budget and manage your cash flow to help build

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Speaker 1: up that emergency money as quickly as possible, in the

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Speaker 1: Sugar Mama Budget and cash Flow Academy, I actually teach

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Speaker 1: you and show you exactly how to do this, and

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Speaker 1: I think I give you like a hundred different ways

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Speaker 1: to save money and a hundred different ways to earn

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Speaker 1: extra money to help quickly boost that emergency money as

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Speaker 1: quickly as possible so that you can tick that box

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Speaker 1: off and go back to your other financial goals such

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Speaker 1: as paying off a home loan or investing or.

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Speaker 2: Putting more money into superannuation.

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Speaker 1: So that is a great resource for people who really

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Speaker 1: actually want to get better at managing their money and

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Speaker 1: actually know and understand how to stick to their budget,

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Speaker 1: which is often the hardest things when it comes to budgeting.

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Speaker 1: So the resource for that, the link for that is

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Speaker 1: in the podcast notes. And then finally worry number five

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Speaker 1: and that is following advice from Finn Influenzas. Now, don't

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Speaker 1: get me wrong, I love financial influencers. I know I'm

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Speaker 1: kind of full into the basket of a finfluencer, but

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Speaker 1: I'm actually a licensed financial planner as well. So these

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Speaker 1: financial influencers I think are brilliant for motivation, They're fantastic,

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Speaker 1: and they inspire you. They'd even inspire me, and they

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Speaker 1: help you get started. But here's the issue. When it

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Speaker 1: comes to strategic tailored advice. Influences or influences are not

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Speaker 1: licensed financial professionals. It's kind of like getting medical advice

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Speaker 1: from someone who's on a great health and fear this plan.

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Speaker 1: A doctor can give you medical advice, an influencer can't

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Speaker 1: give you personal funancial advice. And many influencers they share

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Speaker 1: insights based on their own financial situation, goals and strategies.

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Speaker 1: And whilst that transparency is incredibly helpful, it's important to

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Speaker 1: understand that their situation may be vastly different from yours.

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Speaker 1: For example, you might see someone promoting or talking about

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Speaker 1: a particularly risky investment like a high growth managed fund

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Speaker 1: or ETF or even a stock. Now, what they might

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Speaker 1: not actually share.

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Speaker 2: Is the full picture of their financial health.

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Speaker 1: That particular ETF, managed fund or stock could actually what

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Speaker 1: you're seeing an isolation they're talking about, is really not

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Speaker 1: the true picture of really what's going on. You see,

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Speaker 1: they can actually have seven or eight other investments that

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Speaker 1: they own themselves that are helping spread out their risk,

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Speaker 1: and they may not necessarily have toxic debt, or they

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Speaker 1: may have ample emergency savings, and they may have a

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Speaker 1: really strong financial safety need in place. If you would

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Speaker 1: go and mirror their advice, that is, say go and

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Speaker 1: invest in that particular fund, ETF or stock without having

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Speaker 1: the same financial foundations in place, you could be putting

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Speaker 1: yourself into a financially precarious position. And then on top

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Speaker 1: of that, following generic advice exposes you to risk that

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Speaker 1: influencers don't actually know and understand your own unique goals

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Speaker 1: and also your timelines or risk tolerance. So, for example,

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Speaker 1: you might see a influencer talking about an Australian share ETF. Now,

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Speaker 1: there's nothing wrong with that Australian share t if it

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Speaker 1: may have performed extremely well and they're talking about the facts,

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Speaker 1: but you may interpret that as a recommendation to go

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Speaker 1: and invest in that.

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Speaker 2: Now you may not actually know that that.

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Speaker 1: Particular ETF is a highly volatile investment over the short

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Speaker 1: to medium term, and that that particular ETF is for

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Speaker 1: investors who have a high growth risk profile and for

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Speaker 1: investors who have an investment timeline of say ten years.

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Speaker 1: That potentially could be the worst investment for you because

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Speaker 1: you actually have a goal that say, buying a home

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Speaker 1: one day or buying a home in a year or two.

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Speaker 1: So thinking that that influencer knows that that is the

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Speaker 1: right investment for you is really dangerous and incredibly risky.

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Speaker 1: And if something goes wrong where you follow that advice,

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Speaker 1: you have no legal protection against that influencer. However, when

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Speaker 1: you have a financial planner working with you, there is protection,

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Speaker 1: there is accountability, and you can actually go to that

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Speaker 1: financial planner and say this was the wrong advice.

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Speaker 2: I need help, we need to fix this.

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Speaker 1: Or I'm going to take this to a higher power.

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Speaker 1: There is protection in place, There is insurance in place.

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Speaker 1: There are policies and procedures and a whole pile of

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Speaker 1: compliance work to protect you. When it comes to working

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Speaker 1: with a financial planner, you have none of that, no recourse,

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Speaker 1: no protection if something goes wrong after following advice from

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Speaker 1: a f influencer.

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Speaker 2: So how do you navigate this?

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Speaker 1: Well, all right, I recommend you use for influences as

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Speaker 1: a source of inspiration, but always back up their so

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Speaker 1: called tips with your own research and analysis. Think about

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Speaker 1: what you're doing, what your time frame.

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Speaker 2: Is, and what your risk profile is, and when it

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Speaker 2: comes to those big financial decisions.

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Speaker 1: Such as which is the right superannuation account for you,

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Speaker 1: how should you structure your investment portfolio, what you should

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Speaker 1: be doing when it comes to contributing to superannuation in

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Speaker 1: the most tax effective way. That is when you've got

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Speaker 1: to go and see a license professional that is a

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Speaker 1: financial planner, and maybe even accountant along the way too,

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Speaker 1: and they'll ensure that their advice is tailored to your circumstances.

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Speaker 2: And your goals, and that will then give you so

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Speaker 2: much more.

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Speaker 1: Confidence, most importantly, legal protection if something goes wrong. So

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Speaker 1: there you have it, my five financial worries for Australia.

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Speaker 1: These are the things that keep me up at night

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Speaker 1: as a financial planner. But remember this episode is not

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Speaker 1: about fear. It's about a where and empowerment. My hope

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Speaker 1: is that by you knowing these risks, you'll be able

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00:23:05,359 --> 00:23:08,480
Speaker 1: to hopefully see them. Well I hope you don't actually

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00:23:08,600 --> 00:23:09,880
Speaker 1: have to see them, but if you do see them,

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00:23:09,920 --> 00:23:12,480
Speaker 1: or you see them potentially for people around you, you

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00:23:12,520 --> 00:23:15,439
Speaker 1: can help guide them, send them this episode so that

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Speaker 1: they know how to take those steps, or you know

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00:23:17,560 --> 00:23:20,359
Speaker 1: how to take those steps to protect yourself, your loved ones,

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Speaker 1: and of course your financial future. Now, if any of

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00:23:24,080 --> 00:23:26,720
Speaker 1: these key points or worries resonate with you, I encourage

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00:23:26,760 --> 00:23:30,000
Speaker 1: you to not just listen, but actually to step up

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00:23:30,200 --> 00:23:33,520
Speaker 1: and take action, whether it's calculating actually how much you

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Speaker 1: need for retirement, or how much you need for emergency money,

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00:23:36,800 --> 00:23:40,520
Speaker 1: or how much you need to start investing and building

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Speaker 1: diversified wealth outside of your home, or perhaps even just

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00:23:44,440 --> 00:23:46,199
Speaker 1: picking up a phone and making an appointment to go

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00:23:46,280 --> 00:23:50,879
Speaker 1: see a financial planner. Every step you take today makes

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Speaker 1: a world of difference for your future. So everyone, thank

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Speaker 1: you so much for listening to Sugarmuma's fireplay this morning.

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Speaker 2: If you've found this.

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00:23:59,280 --> 00:24:02,720
Speaker 1: Episode helpful, please share it with someone you care about,

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00:24:03,200 --> 00:24:05,960
Speaker 1: and of course don't forget to subscribe, leave a review,

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00:24:06,040 --> 00:24:08,879
Speaker 1: and make sure you're following me on Instagram and of

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00:24:08,920 --> 00:24:11,040
Speaker 1: course at Canna Campbell Official if you'd like to see

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00:24:11,119 --> 00:24:15,320
Speaker 1: inside my real life now, until next time, stay informed,

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Speaker 1: stay in powered, and keep that financial fire burning bright

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Speaker 1: with you. This is sugar Mama's fire