WEBVTT - What are you actually working for?

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<v Speaker 1>Welcome to How Do They Afford That? The podcast that

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<v Speaker 1>peaks into the financial lives of everyday Australians. I'm Michael Thompson.

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<v Speaker 1>I'm an author and the co host of the business

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<v Speaker 1>news podcast Fear and Greed, and as always I'm with

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<v Speaker 1>Canna Campbell, financial planner and founder of Sugar Mamma TV,

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<v Speaker 1>the financial literacy platform covering Instagram, books, podcast, YouTube threads,

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<v Speaker 1>TikTok and more. Hello, Canna, good morning Now today a

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<v Speaker 1>slightly bigger question. I think this is we're sitting a

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<v Speaker 1>pretty high bar for us today. We spent a lot

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<v Speaker 1>of time talking about saving and investing and building wealth,

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<v Speaker 1>but but it is worth stopping and asking what are

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<v Speaker 1>we actually working for? Right? Are we doing it for

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<v Speaker 1>more money? Doing it for more freedom, more security? I

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<v Speaker 1>don't know something else? Also, your big why behind this exactly?

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<v Speaker 1>You have worked with a lot of clients over the years.

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<v Speaker 1>What do people usually say when when you ask them

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<v Speaker 1>what they're working for financially?

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<v Speaker 2>So normally it starts with this kind of like surface level, why, well,

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<v Speaker 2>you know, I wouldn't be able to retire, I want

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<v Speaker 2>to have financial security, I want to pay off the home,

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<v Speaker 2>and they sort of blanket responses. But when you start

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<v Speaker 2>to go deeper, there's actually so much more behind it

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<v Speaker 2>and what that goal actually represents. So it often represents

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<v Speaker 2>like more time, a slower pace, less stress, having like

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<v Speaker 2>flexibility and choice. And then we start to explore, we'll

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<v Speaker 2>hang on what does that then look like like? You know,

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<v Speaker 2>what does that represent? So? Is it perhaps having the

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<v Speaker 2>ability to travel, to have more experiences and adventures, to

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<v Speaker 2>be able to be perhaps maybe more generous with your

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<v Speaker 2>time or even money with you know, say doing some

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<v Speaker 2>charity work. Or does it look like having the ability

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<v Speaker 2>to be able to help children or grandchildren out, or

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<v Speaker 2>help pay for things like weddings, or be able to

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<v Speaker 2>take your whole family on a special international holiday, perhaps

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<v Speaker 2>somewhere where you grew up as a child. You know,

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<v Speaker 2>you start to go so much deeper and have a

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<v Speaker 2>much more meaningful conversation. You see things start to light

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<v Speaker 2>up in people's eyes because you're like, Okay, this is

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<v Speaker 2>actually I've been told I have to come to this appointment,

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<v Speaker 2>I've been told I should be doing this, But now

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<v Speaker 2>I get why I need to be having these conversations.

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<v Speaker 2>And money is very rarely the end goal. It's actually

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<v Speaker 2>what the money then allows you to do, but also

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<v Speaker 2>what the money allows you to be.

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<v Speaker 1>Okay, that is really interesting that you need to dig

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<v Speaker 1>so far, that you need to ask so many kind

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<v Speaker 1>of follow up questions. And it makes me wonder then

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<v Speaker 1>whether if people are kind of giving almost these default

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<v Speaker 1>answers to these questions, does that then represent probably a

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<v Speaker 1>bigger problem with the way that they are working as well,

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<v Speaker 1>that they're almost on autopilot working towards some point in

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<v Speaker 1>the future, that they think they should be working towards

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<v Speaker 1>retirement or paying off the mortgage just because everyone else

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<v Speaker 1>does it, or they think everyone does it.

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<v Speaker 2>So often the goal is fine itself, but it's the

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<v Speaker 2>lack of connection to that goal and the lack of

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<v Speaker 2>underdeep understanding as to what that goal represents for them

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<v Speaker 2>and feels like for them. And I think it's really

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<v Speaker 2>important to invest time exploring, which is why I often

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<v Speaker 2>say the importance of you know, loving your goals, investing

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<v Speaker 2>time exploring your goals and learning how to create them

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<v Speaker 2>in a powerful, concise way for yourself to follow. And

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<v Speaker 2>you know, people will initially think you know numbers first,

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<v Speaker 2>and there is an element there's a disconnect there. It's

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<v Speaker 2>quite mindless, and I'd even say at times quite soulless.

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<v Speaker 2>You know, they're going through, you know, going off to work,

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<v Speaker 2>going doing this to pay the bills, doing this to

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<v Speaker 2>eventually one day retire. Like where's the passion and excitement

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<v Speaker 2>in that? And how is that mindset and that attitude

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<v Speaker 2>showing up? But if I was to show you, well,

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<v Speaker 2>you're going to work because you're going to be able

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<v Speaker 2>to retire at age you know, sixty on eighty thousand

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<v Speaker 2>dollars a year, and you'll be able to take a

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<v Speaker 2>family on a holiday every year, Like suddenly going to

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<v Speaker 2>work is not so hard and painful, and you know,

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<v Speaker 2>and you know people think about numbers initially, but what

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<v Speaker 2>they really want deep down, when you can safely explore

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<v Speaker 2>the goals and the why and what it means and

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<v Speaker 2>the money story often and where it came from, is

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<v Speaker 2>people want connection and they want freedom, and they want

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<v Speaker 2>to feel that they can contribute.

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<v Speaker 1>Do you see then, like that kind of impersonation of

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<v Speaker 1>someone who's just going to work and just going through

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<v Speaker 1>the motions to pay the bills, to pay the mortgage,

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<v Speaker 1>all that kind of thing, they are just kind of

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<v Speaker 1>like the autopilot goals. But have you actually seen people

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<v Speaker 1>then who are chasing goals that are actually wrong for

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<v Speaker 1>them entirely. And it's not until you kind of sit

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<v Speaker 1>down and talk to them that they might actually have

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<v Speaker 1>a goal to pay off the all by fifty And

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<v Speaker 1>once you actually get talking to them, it turns out

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<v Speaker 1>that they don't. It doesn't actually matter to them. They

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<v Speaker 1>don't mind having a mortgage that lasts a bit longer.

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<v Speaker 1>They want to be able to live a bit more

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<v Speaker 1>freely now and travel a bit more and have a

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<v Speaker 1>bit more money free now. Just as an example of

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<v Speaker 1>people who are living according to the wrong goals entirely.

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<v Speaker 2>Yes, And this is where the power of financial literacy

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<v Speaker 2>comes in, because you can actually show people will hang on, Yes,

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<v Speaker 2>that goal is a great goal to have, but you're

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<v Speaker 2>also missing, you know, three quarters of the other picture here,

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<v Speaker 2>and how those other important elements of your financial game

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<v Speaker 2>plan and your goals actually all sort of kind of

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<v Speaker 2>interdependent upon each other to help get you to where

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<v Speaker 2>you want to be to actually achieve all the values

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<v Speaker 2>behind those goals. So, you know, sitting down with a

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<v Speaker 2>financial planner, and you know, I always say to people,

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<v Speaker 2>when you're going to see a financial planner, spend time

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<v Speaker 2>really thinking about what's important to you and what your

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<v Speaker 2>goals are, because that financial planner can then tell you

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<v Speaker 2>whether you've got the wrong goals, you've got unrealistic expectations,

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<v Speaker 2>or you need to include other things in those goals.

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<v Speaker 2>And a classic example of this is where people are

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<v Speaker 2>so focused on paying off the home loan that they

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<v Speaker 2>can and that they have been told that's what you're

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<v Speaker 2>supposed to do, and then that sort of genuinely believe

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<v Speaker 2>in the Yes, that as technically correct, but they're also

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<v Speaker 2>missing out on the importance of super the importance of

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<v Speaker 2>diversification outside of the family home, the importance of emergency money.

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<v Speaker 2>Like so, yes, I definitely would have come across that

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<v Speaker 2>plenty of times.

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<v Speaker 1>Okay, this idea then that they're just working so hard

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<v Speaker 1>and working to get to this point somewhere in the future.

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<v Speaker 1>Do you think we confuse doing well financially with living

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<v Speaker 1>well that the two are in fact kind of can

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<v Speaker 1>be slightly different things.

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<v Speaker 2>Yes, so, And I think also social media has a

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<v Speaker 2>big element here where you know, it's what looks like

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<v Speaker 2>they're you know, you're living well, you know you're ticking

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<v Speaker 2>all the boxes you've got, you know, the car, the outfit,

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<v Speaker 2>the home. But then really what's going on behind the scenes.

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<v Speaker 2>Are you really doing well? You do you actually, from

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<v Speaker 2>a financial literacy point of view, actually know that you

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<v Speaker 2>are making good progress. Not to be the richest person

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<v Speaker 2>or you know, but to actually know that we are

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<v Speaker 2>actually making progress, we're actually being intelligent and we have

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<v Speaker 2>a respectful sense of balance in our lives with the

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<v Speaker 2>goals that we're working on. Because we come here with

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<v Speaker 2>nothing and we leave with nothing, we have to have

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<v Speaker 2>a respectful sense of balance and that we're honoring all

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<v Speaker 2>the different pillars in our lives. So, yes, there is

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<v Speaker 2>a big difference between what looks like you're living well

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<v Speaker 2>and actually genuinely living well, and I think having that

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<v Speaker 2>progress which is not always linear and perfect, particularly right now.

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<v Speaker 2>You know, sometimes the progress and process is actually just

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<v Speaker 2>staying afloat, but then knowing when to change gears and

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<v Speaker 2>tweak and change the journey in direction as things shift

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<v Speaker 2>and change.

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<v Speaker 1>And it would certainly change depending on your stage of

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<v Speaker 1>life as well. Right if you're younger, or if you're

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<v Speaker 1>a mid career, or if you're approaching retirement, this question

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<v Speaker 1>of what you're actually working for may evolve entirely absolutely.

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<v Speaker 2>And also things can suddenly change in life. You know,

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<v Speaker 2>situations change, and you know windfalls and then setbacks and challenges,

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<v Speaker 2>and I think having that deep connection to your why

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<v Speaker 2>and the big picture here is going to act as

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<v Speaker 2>your beacon of light through tough times, through challenging times,

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<v Speaker 2>because you know it's hard, you acknowledge it, but it

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<v Speaker 2>is going to be worth it. It will pay off.

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<v Speaker 2>You will get there eventually, and you will come out

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<v Speaker 2>a stronger person, a better person, a more educated person

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<v Speaker 2>when it comes to money, a wiser person.

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<v Speaker 1>Okay, on the other side of the break, I want

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<v Speaker 1>to ask you how we figure this out because it's

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<v Speaker 1>a big question, this idea of what you're actually working for,

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<v Speaker 1>and I want to know how we can all answer that.

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<v Speaker 1>Because you talked about the various kind of follow up

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<v Speaker 1>questions that you as a financial plan I had to

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<v Speaker 1>ask to dig deeper. So I'm curious to see whether

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<v Speaker 1>we can kind of take a shortcut and just get

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<v Speaker 1>to the core of it in an instant.

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<v Speaker 2>This is like a very fast initial financial planning perpointment.

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<v Speaker 1>Indeed, it is quick break back in a moment with

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<v Speaker 1>more cana. Today we are talking about what are you

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<v Speaker 1>actually working for? Are you working for more freedom? Security, money,

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<v Speaker 1>options to do more things later in life. It's a

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<v Speaker 1>big question. How do we answer that question of ourselves?

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<v Speaker 1>Do we ask it of ourselves? Are you better to

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<v Speaker 1>ask it of someone else? Do you sit down with

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<v Speaker 1>your partner or a friend, and can you have a

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<v Speaker 1>conversation about this with someone who is not necessary? I mean,

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<v Speaker 1>gold standard would be to go to a go to

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<v Speaker 1>a financial planner, a trained professional. But if you're just

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<v Speaker 1>kind of curious to know, can you just sit down

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<v Speaker 1>and just have a chat about it with a friend

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<v Speaker 1>or a family member.

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<v Speaker 2>A safe space.

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<v Speaker 1>Yeah, because it's not an easy question to answer, and

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<v Speaker 1>it's one that you probably need to be vulnerable. Yeah,

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<v Speaker 1>you've got to be honest.

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<v Speaker 2>So clarity comes from asking better questions, not chasing bigger numbers.

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<v Speaker 2>So creating the space to actually go deep with this

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<v Speaker 2>where you can relax, breathe into it, and just safely

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<v Speaker 2>dissect and analyze everything that sort of comes to mind.

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<v Speaker 2>And you know, I also recommend writing things down if

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<v Speaker 2>there's something really important that sort of hits you aut

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<v Speaker 2>it that it's quite a surprise. So one of the

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<v Speaker 2>best questions I like to ask people is like, what

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<v Speaker 2>does you know your ideal day look like? So, what

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<v Speaker 2>does your ideal day look like mine?

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<v Speaker 1>Yeah? Oh no, you're going to put me on.

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<v Speaker 2>This, Yeah, Like what's the pace, like, what's the energy? Like,

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<v Speaker 2>what does it look like? Who you spending time with?

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<v Speaker 2>How much time are you spending with them? Like, you know,

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<v Speaker 2>what's the balance like of work and family and you

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<v Speaker 2>know time on your own.

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<v Speaker 1>Yeah. No, it's a good point. And when I've thought

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<v Speaker 1>about this in the past, it is about having time

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<v Speaker 1>to still do work, because I still love working, but

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<v Speaker 1>it's not having to spend twelve hours a day working.

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<v Speaker 1>It is about being able to do that work and

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<v Speaker 1>still have a lot of time with my family. That's

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<v Speaker 1>what That's what I want, And so for me, that

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<v Speaker 1>is kind of a perfect day, right being able to

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<v Speaker 1>to for me, take the kids to school and ideally

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<v Speaker 1>to pick them up again in the afternoon so they

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<v Speaker 1>don't sleep there overnight, and to be able to do

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<v Speaker 1>some work that really has meaning to me and to

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<v Speaker 1>do those things during the day. That's that's a great

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<v Speaker 1>day for me.

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<v Speaker 2>So hearing that it's connection, it's flexibility, it's purpose. You know,

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<v Speaker 2>this is what we're talking about here. So yes, they're

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<v Speaker 2>still great. There are the goals to have, but now

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<v Speaker 2>you understand what it. Have you ever actually done that

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<v Speaker 2>had that conversation with yourself as to what your dream

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<v Speaker 2>ideal day would look like until now? Yes, a fantasy

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<v Speaker 2>way or in an intentional, like deep understanding.

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<v Speaker 1>Way, probably slightly leaning towards the fantasy involves me stepping

0:12:11.120 --> 0:12:15.400
<v Speaker 1>onto a boat that's suddenly Fiji.

0:12:16.880 --> 0:12:19.480
<v Speaker 2>Indeed, but that's like, this is where we start to

0:12:19.480 --> 0:12:21.680
<v Speaker 2>anchor it in our real lives, not in our fantasy lives,

0:12:21.679 --> 0:12:23.080
<v Speaker 2>and we actually go go, you know what, I'm going

0:12:23.120 --> 0:12:25.000
<v Speaker 2>to build this for my family. I'm going to do this.

0:12:25.080 --> 0:12:27.600
<v Speaker 2>And you know, I say, well, okay, give me three

0:12:27.640 --> 0:12:29.760
<v Speaker 2>areas in your life if I could wave a magical

0:12:29.800 --> 0:12:33.079
<v Speaker 2>wand today that I would fix, And you might go, well,

0:12:33.440 --> 0:12:35.360
<v Speaker 2>the mortgage. We have a mortgage.

0:12:35.400 --> 0:12:35.719
<v Speaker 1>I hate it.

0:12:35.760 --> 0:12:37.240
<v Speaker 2>I would love to get rid of it. Okay, Great,

0:12:37.280 --> 0:12:39.720
<v Speaker 2>we're going to work on paying that off. The fact

0:12:39.720 --> 0:12:44.160
<v Speaker 2>that I am reliant solely on my income from physical work. Okay, great,

0:12:44.240 --> 0:12:46.199
<v Speaker 2>let's build you an investment portfolio that pays you a

0:12:46.240 --> 0:12:49.400
<v Speaker 2>passive income. Okay. The next thing that worries me, well,

0:12:49.600 --> 0:12:51.240
<v Speaker 2>I worry about retirement, and I want to make sure

0:12:51.280 --> 0:12:55.920
<v Speaker 2>that you know both myself and my partner can retire together. Well, great,

0:12:56.040 --> 0:12:58.280
<v Speaker 2>let's get a game plan in place to address both

0:12:58.280 --> 0:13:01.200
<v Speaker 2>of your superinnovations that you've got similar account balances or

0:13:01.440 --> 0:13:05.080
<v Speaker 2>the strategy behind it is efficient. So suddenly we're taking

0:13:05.559 --> 0:13:09.480
<v Speaker 2>a fantasy, turning it into a goal, and now building

0:13:09.559 --> 0:13:12.640
<v Speaker 2>the strategy in the system to help make the goal happen,

0:13:12.679 --> 0:13:14.040
<v Speaker 2>which means your dream happens.

0:13:14.920 --> 0:13:16.720
<v Speaker 1>That makes so much sense, and you.

0:13:16.679 --> 0:13:20.280
<v Speaker 2>Now understand the work behind. There are going to be sacrifices,

0:13:20.280 --> 0:13:21.680
<v Speaker 2>there are going to be setbacks, there are going to

0:13:21.679 --> 0:13:24.360
<v Speaker 2>be challenges, but there also be will be windfalls, There'll

0:13:24.360 --> 0:13:27.560
<v Speaker 2>be bonuses, There'll be you know, opportunities that come up

0:13:27.559 --> 0:13:32.439
<v Speaker 2>that will obviously like amplify and leverage. You know this strategy,

0:13:32.600 --> 0:13:35.640
<v Speaker 2>but you now know even more as to what you're building.

0:13:35.720 --> 0:13:38.079
<v Speaker 2>You've got a vision, You've got that light at the

0:13:38.120 --> 0:13:40.880
<v Speaker 2>end of the tunnel. You can use that to work towards.

0:13:41.360 --> 0:13:43.760
<v Speaker 2>And you know, it's something that I do on a

0:13:43.760 --> 0:13:46.880
<v Speaker 2>regular basis. I think about the big picture, particularly you know,

0:13:46.880 --> 0:13:52.400
<v Speaker 2>when I'm working, like you, long hours, juggling kids, daycare,

0:13:52.840 --> 0:13:56.440
<v Speaker 2>you daycare expenses, you know fill prices and you think

0:13:56.640 --> 0:13:59.320
<v Speaker 2>far out, there's just so many setbacks and blocks and

0:13:59.400 --> 0:14:02.880
<v Speaker 2>challenges coming back to that big picture and what it

0:14:02.960 --> 0:14:04.599
<v Speaker 2>represents and why.

0:14:04.400 --> 0:14:08.360
<v Speaker 1>Because that so valuable? Yeah, and it flows through everything then, right,

0:14:08.400 --> 0:14:12.680
<v Speaker 1>because that affects how you save, how you spend, how

0:14:12.760 --> 0:14:17.040
<v Speaker 1>you invest. It puts purpose behind all of those things.

0:14:16.800 --> 0:14:19.120
<v Speaker 2>And your mindset and your attitude and how you show

0:14:19.200 --> 0:14:23.280
<v Speaker 2>up as an individual. You're not grumpy that you've had

0:14:23.280 --> 0:14:26.000
<v Speaker 2>to put money into your super or pay extra morhich.

0:14:26.360 --> 0:14:31.880
<v Speaker 2>You're proud, You're empowered, you're financially intelligent and whise and

0:14:31.960 --> 0:14:34.120
<v Speaker 2>it's going to help your family so much so you're

0:14:34.120 --> 0:14:36.360
<v Speaker 2>going to stick to it and be consistent. As we've

0:14:36.480 --> 0:14:41.080
<v Speaker 2>spoken about gazillion times, is the consistency rather than the amount,

0:14:41.160 --> 0:14:43.640
<v Speaker 2>particularly when you factor in time as well, that has

0:14:43.840 --> 0:14:46.520
<v Speaker 2>does most of the hard work for you in getting ahead.

0:14:46.840 --> 0:14:51.440
<v Speaker 1>What happens though, when say two people in a household

0:14:52.280 --> 0:14:56.200
<v Speaker 1>have completely different answers to that question of what are

0:14:56.200 --> 0:14:57.840
<v Speaker 1>you actually working for?

0:14:58.600 --> 0:14:59.400
<v Speaker 2>They get divorced.

0:15:00.040 --> 0:15:02.560
<v Speaker 1>I was going to say it doesn't sound very compatible, right,

0:15:02.800 --> 0:15:05.000
<v Speaker 1>is how do you work through that? Because you would

0:15:05.000 --> 0:15:06.880
<v Speaker 1>have seen that right where you sit down with a

0:15:07.280 --> 0:15:10.280
<v Speaker 1>couple and they've got different.

0:15:10.560 --> 0:15:14.800
<v Speaker 2>It's really hard. And I have experienced this with clients

0:15:14.800 --> 0:15:16.160
<v Speaker 2>where you know, new clients have come to see me

0:15:16.200 --> 0:15:17.560
<v Speaker 2>and they've almost come to see me as a marriage

0:15:17.560 --> 0:15:20.240
<v Speaker 2>counselor because I think that what's you know, they've got

0:15:20.240 --> 0:15:23.200
<v Speaker 2>financial stress, But really is they're on different pages and

0:15:23.760 --> 0:15:27.080
<v Speaker 2>you know the relationship has dissolved but not always, and

0:15:27.080 --> 0:15:29.480
<v Speaker 2>that you know they're there. That's a very small percentage,

0:15:29.520 --> 0:15:32.280
<v Speaker 2>but I would be lying if I said that doesn't happen.

0:15:33.360 --> 0:15:36.000
<v Speaker 2>But the other side is also the financial literacy. You know,

0:15:36.080 --> 0:15:39.160
<v Speaker 2>some people have different values because they don't have the

0:15:39.200 --> 0:15:42.040
<v Speaker 2>same experience or the same understanding as to how money

0:15:42.040 --> 0:15:45.120
<v Speaker 2>works and how what's required and what's needed to get

0:15:45.120 --> 0:15:48.680
<v Speaker 2>ahead and how you know, the sacrifices do quite often

0:15:48.800 --> 0:15:51.680
<v Speaker 2>pay off. Also, it's you know, people are at different

0:15:51.720 --> 0:15:53.680
<v Speaker 2>stages in their life, particularly if you have a couple

0:15:53.720 --> 0:15:55.560
<v Speaker 2>that have did quite a bit of an age gap.

0:15:56.120 --> 0:15:58.440
<v Speaker 2>They have different mindsets, they have different goals, and there's

0:15:58.480 --> 0:16:00.360
<v Speaker 2>nothing wrong with that. I think that's also very very

0:16:00.400 --> 0:16:03.120
<v Speaker 2>healthy as well, and that from a practical point of

0:16:03.200 --> 0:16:06.440
<v Speaker 2>view and a strategic point of view involves having a

0:16:06.560 --> 0:16:09.720
<v Speaker 2>joint financial strategy. But also we manage their other separate

0:16:09.720 --> 0:16:14.040
<v Speaker 2>financial affairs, perhaps each of their individual superannuation accounts differently

0:16:14.520 --> 0:16:18.480
<v Speaker 2>that reflect their own individual you know whys and goals

0:16:18.520 --> 0:16:23.080
<v Speaker 2>and dreams and you know aspirations. But I would also

0:16:23.080 --> 0:16:25.880
<v Speaker 2>point out Tom has a goal and his values is

0:16:25.880 --> 0:16:28.120
<v Speaker 2>a little bit different to mine, like he wants to

0:16:28.280 --> 0:16:32.440
<v Speaker 2>retire work a lot earlier than I do, whereas I don't.

0:16:32.680 --> 0:16:35.400
<v Speaker 2>I don't actually ever see myself retiring. But you know

0:16:35.640 --> 0:16:39.080
<v Speaker 2>you are still able to, you know, work together as

0:16:39.080 --> 0:16:42.040
<v Speaker 2>a team and respect each other's wishes and also know

0:16:42.080 --> 0:16:44.760
<v Speaker 2>that they may change. You know, Tom, Tom's got ants

0:16:44.840 --> 0:16:46.400
<v Speaker 2>in his fans, Like I think if you took off

0:16:46.600 --> 0:16:49.040
<v Speaker 2>stop work for a week, he'd be climbing the walls

0:16:49.080 --> 0:16:51.720
<v Speaker 2>with boredom and would end up doing going back to work.

0:16:51.760 --> 0:16:54.360
<v Speaker 2>But you know, you you do have to really respect

0:16:54.440 --> 0:16:56.360
<v Speaker 2>where each other stands, just like you have to do

0:16:56.400 --> 0:16:58.840
<v Speaker 2>in a relationship regardless of the money. You know what

0:16:58.880 --> 0:17:01.080
<v Speaker 2>people are important to people and why, and also know

0:17:01.120 --> 0:17:04.080
<v Speaker 2>that people's whys naturally do change over time. I mean

0:17:04.119 --> 0:17:06.439
<v Speaker 2>mine has massively, particularly in having children.

0:17:06.680 --> 0:17:08.919
<v Speaker 1>Okay, so say you've now landed on an answer to

0:17:08.960 --> 0:17:12.159
<v Speaker 1>the question of what are you actually working for and

0:17:12.240 --> 0:17:14.800
<v Speaker 1>it is these big picture things in the future. It

0:17:14.880 --> 0:17:18.320
<v Speaker 1>might be retiring at fifty five, It might be retiring

0:17:18.440 --> 0:17:21.360
<v Speaker 1>so that you can have an overseas trip every year,

0:17:21.440 --> 0:17:25.640
<v Speaker 1>something big like that. Right, is there a danger though,

0:17:25.640 --> 0:17:28.320
<v Speaker 1>that you were going to get so focused on the

0:17:28.359 --> 0:17:31.000
<v Speaker 1>future and where you are going to be in twenty

0:17:31.080 --> 0:17:35.240
<v Speaker 1>years or thirty years or however long, and that you

0:17:35.280 --> 0:17:39.639
<v Speaker 1>will not enjoy the present. And we're not guaranteed twenty years.

0:17:39.680 --> 0:17:42.560
<v Speaker 1>We're not even guaranteed tomorrow. So how do you balance

0:17:42.600 --> 0:17:45.760
<v Speaker 1>out then the need to actually live well now with

0:17:45.880 --> 0:17:46.960
<v Speaker 1>having a good future.

0:17:47.359 --> 0:17:50.040
<v Speaker 2>It's such a good question, and I think it's very personal,

0:17:50.680 --> 0:17:53.240
<v Speaker 2>and it's about I think looking at where your money

0:17:53.400 --> 0:17:57.479
<v Speaker 2>is and you're not trying to I guess what's that

0:17:57.520 --> 0:18:00.520
<v Speaker 2>saying be the richest person in the cemetery, you know,

0:18:01.160 --> 0:18:05.320
<v Speaker 2>making sure that you intentionally allocate money that gives you

0:18:05.920 --> 0:18:11.320
<v Speaker 2>joy today but also gives you respectful security and stability

0:18:11.359 --> 0:18:15.399
<v Speaker 2>and comfort further down the track. And it is something

0:18:15.400 --> 0:18:22.280
<v Speaker 2>that needs to be mindfully balanced with care and obviously adjustments,

0:18:22.920 --> 0:18:25.640
<v Speaker 2>because you know, we want to make sure that we

0:18:25.840 --> 0:18:29.320
<v Speaker 2>live our lives responsibly, we don't create unnecessary financial stress

0:18:29.320 --> 0:18:32.520
<v Speaker 2>for ourselves. But we also need to find that sweet spot,

0:18:33.119 --> 0:18:34.919
<v Speaker 2>and that is where a financial plan can come in

0:18:35.000 --> 0:18:37.000
<v Speaker 2>and go great, all right, this is what you're owning.

0:18:37.080 --> 0:18:40.600
<v Speaker 2>Let's allocate x amount of dolls per year for family holidays.

0:18:40.920 --> 0:18:42.919
<v Speaker 2>You've got a child that's you know, you want to

0:18:42.920 --> 0:18:45.200
<v Speaker 2>help them buy a home, and you want to help

0:18:45.280 --> 0:18:47.360
<v Speaker 2>contribute towards the tools. It great, We're going to put

0:18:47.359 --> 0:18:49.800
<v Speaker 2>some money aside that and that's where that intentional allocation

0:18:49.880 --> 0:18:52.919
<v Speaker 2>of what you've got coming in today can still serve

0:18:53.160 --> 0:18:55.840
<v Speaker 2>your happiness and your needs, you know, and your personal

0:18:55.920 --> 0:18:59.080
<v Speaker 2>growth and living your best life. But also you are

0:18:59.200 --> 0:19:03.000
<v Speaker 2>always respectful as to building something up just support you

0:19:03.080 --> 0:19:05.520
<v Speaker 2>back will and to the future.

0:19:05.840 --> 0:19:09.120
<v Speaker 1>Okay, all right, good place to finish. I think that's

0:19:09.119 --> 0:19:11.480
<v Speaker 1>a big, big topic. We tries to take all that.

0:19:12.040 --> 0:19:14.840
<v Speaker 1>I feel, Yeah, and it's a good conversation to have. It.

0:19:14.840 --> 0:19:17.120
<v Speaker 1>It's a great conversation to have with a financial planner,

0:19:17.600 --> 0:19:19.399
<v Speaker 1>but it's just even a good conversation to have with

0:19:19.480 --> 0:19:22.600
<v Speaker 1>yourself or with your partner and just start asking that

0:19:22.680 --> 0:19:25.440
<v Speaker 1>question and then trying to dig a little bit deeper

0:19:25.480 --> 0:19:28.400
<v Speaker 1>than the surface level answers to it. All right, if

0:19:28.400 --> 0:19:30.679
<v Speaker 1>somebody wants more information from you, Where do they find you?

0:19:30.840 --> 0:19:33.480
<v Speaker 2>Do you want to dig deep with your financial goals

0:19:33.480 --> 0:19:35.560
<v Speaker 2>and your wife? Best place to find me is on

0:19:35.640 --> 0:19:37.000
<v Speaker 2>Instagram at sugar Mama.

0:19:36.800 --> 0:19:38.800
<v Speaker 1>TV, and you can hear me every day with Sean

0:19:38.880 --> 0:19:41.360
<v Speaker 1>Aylmer on Fear and Greed business news. You can use

0:19:41.400 --> 0:19:43.359
<v Speaker 1>thank you for listening to how Do They Afford That?

0:19:43.640 --> 0:19:46.800
<v Speaker 1>Remember to hit follow on the podcast and tell somebody

0:19:46.880 --> 0:19:48.920
<v Speaker 1>else about the show as well. Send them a link

0:19:48.960 --> 0:19:50.600
<v Speaker 1>to the episode if you think that they might enjoy

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