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Speaker 1: Welcome to Sugar Mama's Fireplay, the podcast where weird night

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Speaker 1: your financial independence plan for a early retirement to help

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Speaker 1: you create a rich life filled with freedom, purpose and peace.

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Speaker 1: I am your host's financial planner, Canna Campbell.

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Speaker 2: Today's episode is all about real life fire in action.

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Speaker 2: My guest Ash.

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Speaker 1: She's a mom, she's an investor, and she's a self

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Speaker 1: proclaimed bargain hunter.

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Speaker 2: Living in the Northern Territory.

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Speaker 1: Ash and her husband have built an amazingly inspiring network

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Speaker 1: figure of one point five million dollars, of which this

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Speaker 1: includes around about three hundred and fifty thousand dollars in shares,

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Speaker 1: and they're on track to hit Arista fire by two

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Speaker 1: thousand and thirty, which is really just around the corner.

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Speaker 1: But what's great about this is that actually achieved this

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Speaker 1: while enjoying a really healthy balance of joy, lifestyle and

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Speaker 1: guess what, mortgage free. So in this conversation you're about

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Speaker 1: to be privy to we're going to unpack all the decisions,

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Speaker 1: those important turning points, awakenings, and those honest mistakes that

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Speaker 1: we're all guilty of making and part of the lessons

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Speaker 1: and part of your journey. And you're going to hear

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Speaker 1: how she went from saving without any sense of direction

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Speaker 1: or purpose to becoming a focused, empowered investor. I might

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Speaker 1: literally that's out my seat as I say this to you.

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Speaker 1: So Ash's story is seriously packed with practical tips, important

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Speaker 1: mindset shifts, which is really where all this begins, and

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Speaker 1: the kind of financial clarity I know that well is

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Speaker 1: going to inspire you this morning as you listen to

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Speaker 1: this episode and supercharge your own financial journey. This is

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Speaker 1: sugar Mama's fireplane. Ash, thank you so much for coming

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Speaker 1: on the show today. I'm sitting up straight. I'm literally

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Speaker 1: like about to launch out of my seat.

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Speaker 2: How are you today?

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Speaker 3: Thank you so much for having me. I'm really good.

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Speaker 3: Thank you. I'm excited to be here.

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Speaker 2: Well, I like not as much as I am.

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Speaker 1: I can tell you that I want to get straight

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Speaker 1: into this because your story inspiring and you know I Thirst.

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Speaker 1: She'd been following your Instagram account for some time. Can

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Speaker 1: you take me back to when you first began your

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Speaker 1: journey towards improving your financial wellbeing and that sense of

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Speaker 1: financial independence?

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Speaker 3: My mom and dad, Well, my mum was a stain

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Speaker 3: at home mum, but before she was a mum, she

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Speaker 3: worked at the bank. Dad worked at the bank. When

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Speaker 3: I got my first job. Mum always sort of taught me,

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Speaker 3: you know, okay, so put a little bit into your

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Speaker 3: savings and keep some you know, in your spending account.

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Speaker 3: I reckon. I was ten when I was walking around

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Speaker 3: the shop and Mum would go, oh, look that thing,

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Speaker 3: a toilet paper. That's four dollars, but it's got ten

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Speaker 3: roles in it. You know. This one it's six dollars.

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Speaker 3: It seems more, but it's actually got you know, twenty

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Speaker 3: roles in it, so it's better value you. I remember

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Speaker 3: seeing Mum looking through the catalog. So Mum instilled in me.

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Speaker 3: I mean, I want to say we were relatively frugal

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Speaker 3: household in it, you know, back then single income. Just

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Speaker 3: my dad worked, so Mum did her part. So I

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Speaker 3: grew up, you know, sort of having a good idea

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Speaker 3: about savings. But then when I moved out of home,

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Speaker 3: I moved very, very far away. I moved from Melbourne

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Speaker 3: all the way up to a little tiny town on

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Speaker 3: the coast of the Northern Territory. Boy, I had no

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Speaker 3: idea I was ending real adult money. I was like,

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Speaker 3: this is pretty great. Still did save a bit, but

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Speaker 3: certainly not as diligently as I had. And then after

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Speaker 3: a few you know, a few years probably I then

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Speaker 3: started to rain it back in when I was like, oh,

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Speaker 3: this is not so sustainable and I mean, you only

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Speaker 3: need so much you know stuff back then catch to

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Speaker 3: the day Amazon eBay, I don't know, whatever it was.

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Speaker 3: How much online copying does one really need to do?

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Speaker 1: Yeah?

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Speaker 2: Exactly.

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Speaker 1: And when you were saving, did you have a goal,

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Speaker 1: because I think it's really important to your brother. You know,

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Speaker 1: it was so beautiful your mother was showing you, you know,

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Speaker 1: how to save, how to identify great value for money.

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Speaker 1: But did you ever know what was going on in

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Speaker 1: their finances? You know, what were they using the savings for.

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Speaker 1: Was it to pay off the mortgage? Was it to

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Speaker 1: have emergency money? Was it just you know, for the

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Speaker 1: general abraday living? Was there an actual goal behind your parents?

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Speaker 1: I guess approached with money.

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Speaker 3: I think, well, my parents, I mean I never remember

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Speaker 3: them explicitly saying they were saving for anything. But again,

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Speaker 3: I am very similar to my mom and dad in

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Speaker 3: that we don't have flashy cars. Right now. We have

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Speaker 3: a Prato and an Asex, but both were bought brand

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Speaker 3: new with cash similar to my mom and dad. Never

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Speaker 3: you know, it was never that they were in a

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Speaker 3: ferrari or anything, but always had very reliable, relatively new cars.

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Speaker 3: So you know, we went on not big, flashy overseas

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Speaker 3: holidays or anything, but you know, we always got to

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Speaker 3: go away, have a week or two at the beach

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Speaker 3: with my grandparents over at Christmas time, my sister and

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Speaker 3: I we had brand new school uniforms, you know, brand

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Speaker 3: new books. Like it was never a case of, oh,

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Speaker 3: you know, we didn't have what we needed. So I

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Speaker 3: think I would say, well, it was never there explicitly

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Speaker 3: to saving for anything big. They certainly were always able

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Speaker 3: to fund the things we needed.

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Speaker 1: It sounds like they were very respectful for the flow

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Speaker 1: of money. They managed it very mindfully. You know, what

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Speaker 1: comes in can then obviously help fund what needs to

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Speaker 1: go out in a very harmonious way, but in a

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Speaker 1: very mindful and respectful way.

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Speaker 2: How did you shift.

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Speaker 1: Then, going from someone who is intentionally saving or in

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Speaker 1: yours petition without purpose, just to then becoming an investor,

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Speaker 1: because that's a big leap for a lot of people.

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Speaker 3: It really was. So there was a bit of time,

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Speaker 3: Like I said, I was a bit lost I would

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Speaker 3: say that my first couple of years of working full time,

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Speaker 3: because I went from earning when I was at Union

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Speaker 3: maybe twenty thousand dollars a year. I would say when

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Speaker 3: I got my first full time job as a fully

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Speaker 3: qualified teacher, I want to say I was earning around

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Speaker 3: seventy five thousand dollars a year, so it was a who. Yeah,

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Speaker 3: teachers in the Northern Territory are relatively well paid. Even now,

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Speaker 3: that's still I want to say they're that, if not

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Speaker 3: the best, maybe the second best paid teachers in Australia.

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Speaker 3: But also because I was living remote, there weren't movie

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Speaker 3: your clubs or you know, pubs or anything, so I

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Speaker 3: wasn't sort of going out spending money on the weekend

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Speaker 3: like I did in Melbourne. I did again, I did

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Speaker 3: do a bit of online shopping. I was just kind

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Speaker 3: of drifting. And then a few family friends a little

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Speaker 3: bit older than me, like my parents' age, had sort

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Speaker 3: of been like, oh have you thought about getting you know,

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Speaker 3: an investment property? And I this is going back. This

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Speaker 3: must have been around twenty fifteen and so, I mean,

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Speaker 3: for a long time, property was seen as that's what

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Speaker 3: you do if you want to get ahead, and I'm,

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Speaker 3: for lack of a bed word, a young, dumb, twenty

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Speaker 3: three year old. Okay, if these adults I trust and

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Speaker 3: respect by saying this is what I should do, I

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Speaker 3: was like, okay, well, if that's what you think. So

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Speaker 3: I talked to my back then he was my boyfriend.

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Speaker 3: Now we've been married ten years, but back then he

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Speaker 3: was my boyfriend of what four ish years, and we

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Speaker 3: were kind of like, okay, we'll start saving for a house.

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Speaker 3: I guess, like, if that's what people do, cool, and

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Speaker 3: so we just started putting some money aside. And again,

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Speaker 3: we were both on a relatively good wicket, so putting

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Speaker 3: you know, being able to say, say a thousand dollars

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Speaker 3: a week was not out of our reach.

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Speaker 1: And so we started amazing one thousand dollars a week

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Speaker 1: ten years ago.

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Speaker 2: It's incredible.

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Speaker 3: I was a teacher, I was ending good money. Hubby

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Speaker 3: was just working. I think back in like retail then

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Speaker 3: not as good, but minimal outgoings because we weren't going

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Speaker 3: out back then. No Uber eats. I still use Uber

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Speaker 3: eats because I missed like the Uber Eats craze real

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Speaker 3: like because in the remote it wasn't there. And then

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Speaker 3: when I came back to town. It was such a

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Speaker 3: big thing. I agree behind the eight ball, but I

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Speaker 3: don't mind. I mean, that's doing us a favor. I

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Speaker 3: think sometimes I think that's a blessing. But so you know,

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Speaker 3: we started being a bit more diligent and there'd be

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Speaker 3: weeks where we saved more, weeks where we saved less.

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Speaker 3: But after a while we slowly built up a bit

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Speaker 3: of a deposit. And a friend again, this same family friend,

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Speaker 3: was like, oh, you should do DHA. That's what I did.

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Speaker 3: So that's Defense Housing Australia. So I know, personally, my

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Speaker 3: risk tolerance is not very high when I look at investments,

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Speaker 3: so d initially appealed to me as a potential investment

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Speaker 3: because the loan is least to Defense housing, so you

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Speaker 3: have a reliable tenant. Even if the house is vacant,

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Speaker 3: DH still pay the rent to you. So if for

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Speaker 3: some reason something happens, you know, and it's left vacant

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Speaker 3: for six months, doesn't matter. I still had that, or

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Speaker 3: well I should say, we my husband and I we

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Speaker 3: still had the regular income. They do touch higher management fees,

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Speaker 3: but that includes general maintenance. So if a light went out,

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Speaker 3: if there was a hole in the fence. DHA dealt

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Speaker 3: with all of that if a bigger problem came up.

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Speaker 3: So I remember once there was with the hot water system.

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Speaker 3: Dh sourced the quotes. They send them to me and

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Speaker 3: I would just say yes, approve or no, I want

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Speaker 3: to get a different quote. So for someone who had

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Speaker 3: no idea what they were doing, this was a I

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Speaker 3: want to say, an easier way to dip my toe

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Speaker 3: into being a property investor. In that it was still

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Speaker 3: very much hands off. I would just collect my end

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Speaker 3: of each month. They would send me the statement. I

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Speaker 3: would give that to my accountant. They do all that

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Speaker 3: side of thing. I didn't have to worry about maintenance.

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Speaker 3: I didn't have to worry about there's no advertising or

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Speaker 3: reletting fit dhatch A take care of all of that.

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Speaker 3: But again, the money that thing was considerably more than

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Speaker 3: what you would pay then if you got a regular

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Speaker 3: real estate agent to take care of it, or again

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Speaker 3: if you did it yourself. But like I said, for me,

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Speaker 3: knowing that the rent was going to come in every

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Speaker 3: month regardless, very company because that went into account when

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Speaker 3: looking at can we service this loan? I think back

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Speaker 3: then I think the rent was about fifteen hundred ish

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Speaker 3: dollars a month, maybe knowing we had that towards and

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Speaker 3: I can't exactly remember, I want to say the mortgage

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Speaker 3: was around two thousand a month, So knowing we had

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Speaker 3: about fifteen hundred a month towards a two thousand dollars mortgage, like, okay,

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Speaker 3: even if things go wrong, we're making up a five

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Speaker 3: hundred dollars short for a month, we can manage that. Yeah.

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Speaker 1: Yeah, she'spress tested with the numbers that were given to you,

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Speaker 1: you know, by the DHA.

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Speaker 2: So what went wrong?

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Speaker 3: I grew, I learned. I listened to a lot of podcasts,

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Speaker 3: I read a lot of books, and I learned about

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Speaker 3: shares more specifically ETFs, and I thought, oh, I haven't

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Speaker 3: really ever heard of those. My mom and dad did

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Speaker 3: have shares, but they had I want to say, Woolworths, Telstra, NAB.

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Speaker 3: They'd never made heaps of money. I think in a

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Speaker 3: two thousand and two thousand and eight they actually did. Look,

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Speaker 3: they didn't sell, but you know, it certainly hadn't grown,

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Speaker 3: you know, as much as they thought it would. I know,

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Speaker 3: NABS certainly never recovered. I remember, mum, at one point

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Speaker 3: it got to forty eight dollars a mom and said, oh,

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Speaker 3: if it gets to fifty, I'm going to sell them.

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Speaker 3: They never did get to fifty, and then they still

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Speaker 3: haven't gotten to fifty. I think, yeah, that was around

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Speaker 3: two thousand and eight. You know, it just decimated some

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Speaker 3: of those what were safe and I use that in

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Speaker 3: inverted quotation marks. But I learned about ETFs and I thought, oh,

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Speaker 3: that's really interesting. But at the same time, it's kind

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Speaker 3: of like, ah, but no investing in shares. That's kind

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Speaker 3: of like gambling. And then as I did more, I'm like, oh, wait,

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Speaker 3: that's what my super's in. Oh well, if I've got

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Speaker 3: all my super there, it can't be that dangerous, you know,

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Speaker 3: it can't be that much like gambling. If I've got

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Speaker 3: my super there, I need to do some more research.

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Speaker 3: I read Mindful Money, I read The Thousand Dollar Project,

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Speaker 3: I read The Barefoot Investor. I started listening to podcasts,

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Speaker 3: and as I started learning more, I was like, Oh,

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Speaker 3: there's actually other things you don't have to invest just

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Speaker 3: by property. Property is not the only choice. Everything I'd

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Speaker 3: seen in the media, it was always about property investor,

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Speaker 3: you know, man buy sixteen properties set to retire.

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Speaker 1: When I'm thirty, like please all the wonderful clickbait things

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Speaker 1: that we got.

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Speaker 3: I never saw anyone having success through investing in ETFs

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Speaker 3: or shares.

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Speaker 1: I think it's because obviously it's not a tangible asset,

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Speaker 1: and it doesn't you know, it's not as you cut

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Speaker 1: to see it and touch it, and it doesn't appeal.

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Speaker 2: You know, from a surface level as sexy as property.

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Speaker 2: It doesn't look as dream like.

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Speaker 1: But in fact, I think shares for me personally, are

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Speaker 1: a much more efficient and effective way of building wealth.

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Speaker 1: So you learned about ETFs and you decided to start

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Speaker 1: with parcels of sake?

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Speaker 2: Was it two thousand dollars.

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Speaker 3: Two thousand initially?

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Speaker 2: How did you come up with the money? Was it

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Speaker 2: out of your cash flow or you know, doing additional things?

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Speaker 2: And then how did you work?

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Speaker 1: I watched what ETFs you wanted to buy.

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Speaker 3: So we started with parcels of two thousand, and at first,

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Speaker 3: like we had a little bit saved up. I think

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Speaker 3: we had, you know, like so maybe about ten thousand

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Speaker 3: in our emergency count. We had an offset as well,

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Speaker 3: so we had some money in the offset attached to

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Speaker 3: the investment property, just because that was a helpful tool

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Speaker 3: for US. But so as I read and again, not

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Speaker 3: a great strategy what I'd seen other people do, I did.

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Speaker 3: I did do some research, but I just didn't understand enough.

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Speaker 3: And I'll be the first tmit I made mistakes along

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Speaker 3: the way, but I pivoted, I learned, you know, and

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Speaker 3: I changed strategy. And I don't regret the mistakes I made,

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Speaker 3: because you know, it was only through having a go

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Speaker 3: that I was able to learn. Otherwise I would have

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Speaker 3: just been sitting on the sidelines. Vanguard, like you know,

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Speaker 3: was really famous and seemed like a good option, and

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Speaker 3: it was a good option. But like I originally invested

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Speaker 3: in BU and BTS, which are both US domiciled. At

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Speaker 3: the time, you know, i'd done some reading of people like, oh,

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Speaker 3: well the paperwork's really easy, don't worry about it. Well,

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Speaker 3: after doing it for you know, I know a few years,

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Speaker 3: I was kind of like pretty keen to give these

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Speaker 3: this week just because it was extra work for me.

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Speaker 1: Yep.

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Speaker 3: And as I learned more, I was like, oh, there's

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Speaker 3: ways I can invest in those US holdings without having

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Speaker 3: a US domicil fund, you know. And so I learned

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Speaker 3: about new things. But so initially, I want to say

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Speaker 3: I was looking at vas vts and VEU so an

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Speaker 3: Australian Vanguard Fund, a US Focus Vanguard, and are All

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Speaker 3: World Vanguard. And then I had a few random LICs

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Speaker 3: because I thought, well, if I have more holdings, that's

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Speaker 3: more diversity. That must be better. And again, as I

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Speaker 3: learned more, I had A two hundred, which is Betash's

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Speaker 3: top two hundred. I also had bas which is Vanguard's

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Speaker 3: Australian Top three hundred. Well I've got them. I'm diversified.

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Speaker 3: As I learned more, oh they're essentially the same thing,

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Speaker 3: like additional one hundred holdings, but it makes up such

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Speaker 3: a small amount of the total, Like they're essentially the

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Speaker 3: same thing. So again it was little things like that

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Speaker 3: because I knew diversifying was important. Don't put all your

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Speaker 3: eggs in one basket, you know, That's what i'd read,

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Speaker 3: but I didn't quite understand that at first. I guess

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Speaker 3: I kind of thought, oh, but that way Vanguard go broke,

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Speaker 3: Like I won't lose my money if I've got some

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Speaker 3: in Beta shares and some in Vanguard. And then obviously,

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Speaker 3: as I learned more, I was like, oh, well, Vanguard,

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Speaker 3: don't actually go broke. Person in that they hold like

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Speaker 3: all the three hundred companies, they're kind of doing the

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Speaker 3: hard work for me. I've seen some fantastic analogy, you know,

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Speaker 3: where people talk about it being like a box of favorites,

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Speaker 3: you know, and whether you buy that box of favorites

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Speaker 3: from you know, wool Words or whether you buy it

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Speaker 3: from coals very similar. And I was like, ah, I

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Speaker 3: understand now I've got some things where I've doubled up

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Speaker 3: and was essentially just making more paperwork at tax time

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Speaker 3: for myself.

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Speaker 1: Yeah, the mistakes you're making are very very innocent mistakes

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Speaker 1: that everyone is guilty of doing themselves. Where such when

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Speaker 1: you're trying to figure this out on your own and

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Speaker 1: you're not getting professional advice. And we actually call this

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Speaker 1: de worsification because you've accelerated beyond that point of diversification

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Speaker 1: where you're actually hindering the portfolio than helping the portfolio

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Speaker 1: because you've just got multiple buckets of the same thing

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Speaker 1: over and over again, and you're right, it creates an

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Speaker 1: absolute nightmare when it comes to doing tax time and

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Speaker 1: you've got statements all over the place essentially reflecting the

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Speaker 1: same thing. It is also a very inefficient use of

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Speaker 1: you know your cash flow and building up your portfolio.

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Speaker 1: I always say to people, it's not rocket science investing.

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Speaker 1: You know, you can really keep a really simple, easy

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Speaker 1: his strategy. The strategy will most definitely tweak and change

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Speaker 1: over time, but the underlying system, the machine, actually could

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Speaker 1: be very very simple and leaning on listed investment companies,

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Speaker 1: you know you don't need a huge amount that all

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Speaker 1: the magic and hard work has done for you right there.

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Speaker 1: So to go back to you, you know you started

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Speaker 1: with passels of two thousand dollars. A quick question, how

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Speaker 1: about you and your partner get on the same page

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Speaker 1: because I know there are a lot of couples listening

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Speaker 1: to this podcast and thinking, you know, I really want

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Speaker 1: to invest with my partner, but we just don't know

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Speaker 1: how to do it. How did you, guys, you know,

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Speaker 1: figure this out because you know this is a really

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Speaker 1: important part of your journey as well being on the

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Speaker 1: same page.

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Speaker 3: I'll talk about this very broadly. I'll start by saying,

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Speaker 3: I love my husband dearly. When I met him by

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Speaker 3: he was terrible with money, and I remember I tell

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Speaker 3: a story we used to it. We used to live

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Speaker 3: him when we're mad Melbourne Storm fans and we used

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Speaker 3: to go after the IB we'd go into Crown and

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Speaker 3: go and have a few drinks, and if I didn't

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Speaker 3: have any money, he'd be like, oh, he have a

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Speaker 3: hundred bucks, And I thought, this guy has reached. This

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Speaker 3: is pretty good. He'd not reach. He was just irresponsible.

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Speaker 2: I'd call that sweetly in instantly generous.

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Speaker 3: So after a while I was kind of like, he

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Speaker 3: let me help you. So this is before long before

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Speaker 3: we were even living together. I'd help him drop a

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Speaker 3: little budget and said, hey, look but you can say,

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Speaker 3: you know, showing him essentially how my mom and dad

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Speaker 3: had showed me. And then when we started living together,

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Speaker 3: kind of we used to put all our money together

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Speaker 3: and I sort of helped. And we have a few

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Speaker 3: disagreements just because I was always more saving focused and

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Speaker 3: he was more spending focused. And what really one of

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Speaker 3: the strategies that really helped us was we implemented what

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Speaker 3: we call fun money. The amount for us it's two

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Speaker 3: hundred dollars each per month, but we're flexible to changing

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Speaker 3: that as circumstances change. But essentially the fun money became

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Speaker 3: such a valuable tool for us in that that is

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Speaker 3: the money you can spend with no questions asked from

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Speaker 3: the other person, we say two in a month, but

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Speaker 3: it works out to twenty four hundred a years. So

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Speaker 3: if you wanted to spend twenty four hundred in January

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Speaker 3: and then have a really boring rest of the year,

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Speaker 3: that's on you. But that's the money for massages, for

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Speaker 3: going out with friends and buying a couple of rounds

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Speaker 3: of drinks. For me, I love buying new active wear.

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Speaker 3: So when I want to buy something you know that

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Speaker 3: I don't need, I'm just buying it because it's cute

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Speaker 3: and I like it, not for things that we need.

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Speaker 3: So you know, for us, if I need new work clothes,

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Speaker 3: that doesn't come out of funder money. But for those

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Speaker 3: little things that my husband loves, little gadgets, just little

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Speaker 3: doo dads, you know, and I'm like, what do you

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Speaker 3: need that for, Well, it came out of his fun

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Speaker 3: of money. So it's absolutely none of my business. He

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Speaker 3: can do whatever he wants with his money. It's not

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Speaker 3: up to me. And so it became just like our

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Speaker 3: judgment free. You don't need to check in with the

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Speaker 3: other person, and that really helped us because otherwise I

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Speaker 3: found sometimes I felt like I was sort of the

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Speaker 3: nag being like he'd say, can I get this, And

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Speaker 3: if I had to be like, no, you don't really

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Speaker 3: need it, I'd feel horrible and he'd kind of be

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Speaker 3: like this woman she never let can do anything fun.

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Speaker 1: It's a massive passion killer when you start saying yes

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Speaker 1: and no and having to get a pole from each other,

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Speaker 1: especially with little things like that. Obviously big things are

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Speaker 1: totally different, but that's a bit of a libido killer.

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Speaker 1: You could say, yeah, well.

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Speaker 3: That's the thing. So for us, having the fun money

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Speaker 3: where you do with that what you want and it's

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Speaker 3: no questions asked, really helped to take a bit of

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Speaker 3: the pressure off me, being because I've always been the

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Speaker 3: person in our family who manages the money. Also, we

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Speaker 3: have really transparent conversations. Even though I'm the one who

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Speaker 3: manages most of the money. I don't do anything without

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Speaker 3: talking about it first. Even though he's not necessarily going

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Speaker 3: to approve or deny because he doesn't understand in investing

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Speaker 3: as much detail as me, I would still say, hey,

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Speaker 3: so we've just reached down next ten thousand dollars parcel,

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Speaker 3: it's going to be time to invest. This is what

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Speaker 3: I'm investing it in. This is whose name, because we

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Speaker 3: sort of take it in turn, some in my name,

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Speaker 3: some name, or I'll say, okay, i'm thinking of we

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Speaker 3: need to close this account, and I'm going to, you know,

418
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Speaker 3: when I refinance down mortgage. Even though I did all

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Speaker 3: the paperwork, he was still very much a part of

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Speaker 3: that process. I've shown him this is how I log

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Speaker 3: onto the app, this is how you buy shares, these

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Speaker 3: are the ones I pick. When there was a bit

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Speaker 3: of a market crash, not a huge crash, but it

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Speaker 3: sort of a dipped I don't know, maybe two months ago,

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Speaker 3: I was like, just so you know, if you've see

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Speaker 3: in the news, this is what's happening. You might notice,

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Speaker 3: you know, our account it's gone down. That's okay, it's

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Speaker 3: part of the process. It'll rebound. Blah blah blah. So

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Speaker 3: even though if I said to him, I'm going to

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Speaker 3: sell everything and invested in Coca Cola, he'd go, all right,

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Speaker 3: if that's what you think's best. He would trust me

432
00:19:12,960 --> 00:19:15,760
Speaker 3: because that's what I do. I would still always tell

433
00:19:15,800 --> 00:19:17,520
Speaker 3: him about it first. I would never just do it.

434
00:19:17,920 --> 00:19:21,760
Speaker 1: Yeah, and look, we echo exactly the same in our household,

435
00:19:21,920 --> 00:19:24,320
Speaker 1: and you know, it's to the same with the living expenses.

436
00:19:24,359 --> 00:19:26,960
Speaker 1: We each have our own set amount per month of

437
00:19:27,000 --> 00:19:29,439
Speaker 1: sanity money. If we you know, it's not up if

438
00:19:29,440 --> 00:19:31,040
Speaker 1: each other's business, how we choose.

439
00:19:30,760 --> 00:19:32,960
Speaker 2: To spend it. And you know we then enjoy spending

440
00:19:33,000 --> 00:19:33,439
Speaker 2: at guilt free.

441
00:19:33,440 --> 00:19:35,080
Speaker 1: And it's the little things that you know, you know,

442
00:19:35,160 --> 00:19:37,119
Speaker 1: mego getting my nails done and or Tom going to

443
00:19:37,119 --> 00:19:38,439
Speaker 1: the driving range and hitting you know.

444
00:19:38,440 --> 00:19:39,639
Speaker 2: A couple of buckets of balls.

445
00:19:39,760 --> 00:19:43,280
Speaker 1: You have to have these respectful boundaries and to be

446
00:19:43,400 --> 00:19:45,479
Speaker 1: together on the same page. And I mean, you know,

447
00:19:45,680 --> 00:19:48,280
Speaker 1: I drive all the investing and the budgeting and the

448
00:19:48,359 --> 00:19:51,439
Speaker 1: mortgage reduction strategy, but Tom has access to everything. You

449
00:19:51,440 --> 00:19:53,240
Speaker 1: can log at any time. You can ask as many questions.

450
00:19:53,320 --> 00:19:55,280
Speaker 1: The only dumb question is the one that you don't ask.

451
00:19:55,520 --> 00:19:59,800
Speaker 1: And it's about having you know, complete transparency, respectful communication,

452
00:20:00,320 --> 00:20:03,000
Speaker 1: a place of education so you are like the exact

453
00:20:03,080 --> 00:20:05,439
Speaker 1: mirror of what we do. Sorry, I completely pivoted for

454
00:20:05,440 --> 00:20:07,320
Speaker 1: a second about your relationship going out, but I think

455
00:20:07,320 --> 00:20:09,560
Speaker 1: it's such an important question to ask. Coming back to

456
00:20:09,600 --> 00:20:12,840
Speaker 1: your investment portfolio, how did you go from buying parcels

457
00:20:12,880 --> 00:20:15,760
Speaker 1: of two thousand dollars up to ten thousand dollars? Did

458
00:20:15,760 --> 00:20:19,280
Speaker 1: your cash flow improve, Did you become more motivated? Were

459
00:20:19,320 --> 00:20:21,639
Speaker 1: you making more miight, like what happened to jump some

460
00:20:21,800 --> 00:20:22,600
Speaker 1: bigger parcels.

461
00:20:22,800 --> 00:20:25,480
Speaker 3: So when I first when we first sort of did

462
00:20:25,480 --> 00:20:28,880
Speaker 3: the little parcels of two thousand, I was still very scared,

463
00:20:29,280 --> 00:20:30,879
Speaker 3: like we dipped our toe in. But I was like,

464
00:20:31,200 --> 00:20:33,320
Speaker 3: for us, it was a lot of money, and that

465
00:20:33,560 --> 00:20:35,720
Speaker 3: idea of it not being candible, you know, it can't see,

466
00:20:35,800 --> 00:20:37,920
Speaker 3: you can't touch it. To have our money just sort

467
00:20:37,960 --> 00:20:41,640
Speaker 3: of owning these fake pieces of paper was scary. And

468
00:20:41,720 --> 00:20:46,719
Speaker 3: then we'd been investing a little bit, and during COVID,

469
00:20:46,760 --> 00:20:50,360
Speaker 3: obviously everything took quite a hit, and so we started investing.

470
00:20:50,359 --> 00:20:52,520
Speaker 3: I want to say it was around twenty end of

471
00:20:52,520 --> 00:20:56,200
Speaker 3: twenty eighteen ish, so we hadn't been invested that long

472
00:20:56,280 --> 00:20:59,439
Speaker 3: when the first dip from COVID happened. To see they

473
00:20:59,560 --> 00:21:02,119
Speaker 3: not much we had in there sort of become less money.

474
00:21:02,400 --> 00:21:05,840
Speaker 3: But then it rebounded. And during COVID, I had plenty

475
00:21:05,920 --> 00:21:09,119
Speaker 3: of time to read and listen and learn, and I

476
00:21:09,160 --> 00:21:12,439
Speaker 3: was like, oh, okay, no, this is just part of

477
00:21:12,480 --> 00:21:14,600
Speaker 3: the cycle. And you know, you see the pictures of

478
00:21:14,600 --> 00:21:17,360
Speaker 3: the historical cycles, and I got a bit more confident,

479
00:21:17,400 --> 00:21:18,960
Speaker 3: and I was kind of like once we had I

480
00:21:18,960 --> 00:21:22,919
Speaker 3: don't know, it was probably around fifty, between thirty and

481
00:21:22,920 --> 00:21:25,440
Speaker 3: fifty thousand, I'd say, we were like, Okay, maybe now

482
00:21:25,480 --> 00:21:28,360
Speaker 3: we'll make the parcels a little bit bigger. We sort

483
00:21:28,400 --> 00:21:30,840
Speaker 3: of pulled back up. Until that point, we've been directing

484
00:21:31,040 --> 00:21:34,639
Speaker 3: any extra cash into our offset account. There was a

485
00:21:34,680 --> 00:21:36,840
Speaker 3: point where we didn't stop putting extra in the offset

486
00:21:36,880 --> 00:21:39,200
Speaker 3: account altogether, but we shifted a little bit. Instead of

487
00:21:39,240 --> 00:21:42,680
Speaker 3: saying ninety percent into the offset, ten percent aside for investing,

488
00:21:42,920 --> 00:21:46,280
Speaker 3: it became sixty percent to the offset, forty percent. Investing

489
00:21:46,400 --> 00:21:50,120
Speaker 3: progressively became less to the offset, and especially to once

490
00:21:50,119 --> 00:21:53,240
Speaker 3: we felt we had a really good emergency fund buffer

491
00:21:53,280 --> 00:21:55,600
Speaker 3: fund in the offset that if anything happened, we had

492
00:21:55,680 --> 00:21:59,720
Speaker 3: enough there was more money to invest, rather than continuing

493
00:21:59,720 --> 00:22:02,120
Speaker 3: to sort of build up the emergency fund endlessly.

494
00:22:02,440 --> 00:22:06,280
Speaker 1: That's a really important awareness to have because you know, people,

495
00:22:06,400 --> 00:22:08,760
Speaker 1: it gets to a point where having extra cash, you know,

496
00:22:08,800 --> 00:22:11,399
Speaker 1: beyond a certain point, it doesn't add any efficiency to

497
00:22:11,440 --> 00:22:14,760
Speaker 1: your wealth creation journey, and it's actually better off beyond

498
00:22:14,760 --> 00:22:17,240
Speaker 1: that point to start investing and build long term passive

499
00:22:17,280 --> 00:22:20,200
Speaker 1: income streams and you know, take a comfortable amount of

500
00:22:20,280 --> 00:22:23,400
Speaker 1: risk in your portfolio for that those long term growth opportunities.

501
00:22:23,880 --> 00:22:26,560
Speaker 1: Did you just intuitively know, Okay, you know what, we

502
00:22:26,600 --> 00:22:28,440
Speaker 1: need to start investing more of this cash and not

503
00:22:28,880 --> 00:22:32,080
Speaker 1: put towards the offset or did you read up about

504
00:22:32,160 --> 00:22:34,080
Speaker 1: you know, what's the level which we need to start

505
00:22:34,160 --> 00:22:37,719
Speaker 1: moving this money elsewhere and investing for the long How

506
00:22:37,760 --> 00:22:39,600
Speaker 1: did that point come to you in your life?

507
00:22:40,320 --> 00:22:43,000
Speaker 3: So I kind of I did some research because around

508
00:22:43,040 --> 00:22:44,920
Speaker 3: this point I'd learn a bit more. So I checked

509
00:22:44,920 --> 00:22:47,520
Speaker 3: with my so how much within our super checked our insurances,

510
00:22:47,680 --> 00:22:49,960
Speaker 3: we're happy with, Okay, there's a good amount of publish event.

511
00:22:50,400 --> 00:22:53,160
Speaker 3: And then once I felt our emergency fund, I think

512
00:22:53,160 --> 00:22:56,439
Speaker 3: we got for around seventy five ish thousand in our

513
00:22:56,480 --> 00:22:59,600
Speaker 3: emergency fund, which sounds like a lot, but given we

514
00:22:59,640 --> 00:23:02,119
Speaker 3: were living remote, I was like, if something happened in

515
00:23:02,119 --> 00:23:04,399
Speaker 3: one of us couldn't work, we would now have to

516
00:23:04,440 --> 00:23:07,399
Speaker 3: find somewhere to live. So it would be the cost

517
00:23:07,480 --> 00:23:10,000
Speaker 3: of getting there, you know, getting into a new house,

518
00:23:10,080 --> 00:23:12,880
Speaker 3: whether that be where, renting, buying, but we would need

519
00:23:12,880 --> 00:23:15,560
Speaker 3: some furniture because we didn't have a whole lot, and

520
00:23:15,600 --> 00:23:19,080
Speaker 3: then we'd both need time. Well, one person assuming they're

521
00:23:19,119 --> 00:23:21,560
Speaker 3: not working or perhaps they passed away, the other person

522
00:23:21,640 --> 00:23:24,240
Speaker 3: needs time to find a new job. Particularly in the

523
00:23:24,240 --> 00:23:26,080
Speaker 3: case of me, because I was the main bread winner,

524
00:23:26,400 --> 00:23:28,439
Speaker 3: I was super conscious of if anything happened to me.

525
00:23:28,480 --> 00:23:31,560
Speaker 3: I wanted to make sure my husband, even he had

526
00:23:31,800 --> 00:23:34,000
Speaker 3: he'd come up with me. So my job was very

527
00:23:34,040 --> 00:23:36,359
Speaker 3: well paid, but he'd just works sort of a little

528
00:23:36,359 --> 00:23:39,959
Speaker 3: bit of everything. Whatever he would find following me was fantastic,

529
00:23:40,200 --> 00:23:42,480
Speaker 3: like for my career, and we loved our time out there.

530
00:23:42,760 --> 00:23:44,359
Speaker 3: But I knew if he came back to town he

531
00:23:44,400 --> 00:23:47,160
Speaker 3: wasn't falling back on a trade or a professional job.

532
00:23:47,480 --> 00:23:50,240
Speaker 3: He might have a bit of trouble finding something, especially

533
00:23:50,240 --> 00:23:53,119
Speaker 3: if he's then expected to pay rent. So again, perple

534
00:23:53,200 --> 00:23:56,240
Speaker 3: amount for us, but that's what I felt comfortable having.

535
00:23:56,480 --> 00:23:59,160
Speaker 1: I think that is absolutely brilliant that you actually sat

536
00:23:59,200 --> 00:24:01,479
Speaker 1: down and worked out how much emergency money is right

537
00:24:01,560 --> 00:24:03,000
Speaker 1: view the amount of people that just think it's a

538
00:24:03,040 --> 00:24:06,000
Speaker 1: simple mathematical formula of like, you know, three months of

539
00:24:06,119 --> 00:24:09,600
Speaker 1: living expanses, or three months of your after tack salary,

540
00:24:09,720 --> 00:24:11,359
Speaker 1: or for three months of your growth salary.

541
00:24:11,400 --> 00:24:13,000
Speaker 2: You know, there is no magical formula.

542
00:24:13,280 --> 00:24:15,639
Speaker 1: You know, everyone has a different number as to how

543
00:24:15,680 --> 00:24:17,800
Speaker 1: much money they need as an emergency money, and you know,

544
00:24:18,000 --> 00:24:21,080
Speaker 1: it sounds like you've actually done the numbers and prioritized

545
00:24:21,080 --> 00:24:23,320
Speaker 1: building it. And I hope that gives you a really

546
00:24:23,359 --> 00:24:25,480
Speaker 1: great sleep at night. And please don't ever think, you know, oh,

547
00:24:25,560 --> 00:24:27,560
Speaker 1: that's probably a lot. It's actually, I think a really

548
00:24:27,600 --> 00:24:30,439
Speaker 1: sensible amount what you've put aside as emergency money, and

549
00:24:30,600 --> 00:24:34,359
Speaker 1: it's just essential before anyone starts investing. So, just to

550
00:24:34,400 --> 00:24:36,680
Speaker 1: go back a second, you've gone from having a portfolio

551
00:24:36,760 --> 00:24:40,440
Speaker 1: over between thirty to fifty thousand dollars in twenty eighteen

552
00:24:40,720 --> 00:24:43,440
Speaker 1: three hundred and fifty thousand dollars in twenty twenty five.

553
00:24:44,080 --> 00:24:47,639
Speaker 3: Yes, wow, I want to say it. Last check, about

554
00:24:47,680 --> 00:24:49,320
Speaker 3: eighty thousand of that is capital bro.

555
00:24:50,119 --> 00:24:52,280
Speaker 1: It's amazing though, when you you know, you take a

556
00:24:52,280 --> 00:24:54,159
Speaker 1: long term approach and you're you know, if you have

557
00:24:54,200 --> 00:24:58,639
Speaker 1: consistently you know, invested and I'm assuming there's some probably

558
00:24:58,640 --> 00:25:00,800
Speaker 1: some dividend reinvestment a lot wait as well.

559
00:25:01,040 --> 00:25:03,080
Speaker 3: Total return on the portfolio as of today it was

560
00:25:03,160 --> 00:25:05,080
Speaker 3: ninety two thousand, six hundred.

561
00:25:05,600 --> 00:25:07,240
Speaker 2: Wow, your money working for you?

562
00:25:07,640 --> 00:25:09,840
Speaker 3: Well, we certainly work to grow it. I mean when

563
00:25:09,880 --> 00:25:12,240
Speaker 3: you put that, you know, close to one hundred thousand

564
00:25:12,240 --> 00:25:16,560
Speaker 3: dollars just from returns, it certainly shows the benefit of compound.

565
00:25:16,640 --> 00:25:18,440
Speaker 3: And when I see it like that, you know, sometimes

566
00:25:18,440 --> 00:25:20,200
Speaker 3: it doesn't feel like, you know, you're making that much.

567
00:25:20,240 --> 00:25:22,320
Speaker 3: You know, it's not like you're getting it paid into

568
00:25:22,320 --> 00:25:24,760
Speaker 3: your bank account every day sort of thing like with

569
00:25:24,840 --> 00:25:27,240
Speaker 3: a salary job. But when I log in and look

570
00:25:27,240 --> 00:25:29,280
Speaker 3: at my kind I'm like, oh, wow, that is actually

571
00:25:29,440 --> 00:25:31,199
Speaker 3: a lot because I try and not check it, you know,

572
00:25:31,320 --> 00:25:32,920
Speaker 3: all the time. Like, but yeah, every now and again,

573
00:25:32,960 --> 00:25:36,000
Speaker 3: when you see that figure, like oh wow, actually I've

574
00:25:36,000 --> 00:25:38,920
Speaker 3: made that like ninety two thousand dollars from doing nothing.

575
00:25:38,960 --> 00:25:40,840
Speaker 3: You know, I didn't go to I didn't have to

576
00:25:40,840 --> 00:25:42,800
Speaker 3: go into the office for it. I wasn't mowing lawns

577
00:25:42,800 --> 00:25:45,400
Speaker 3: for it. You know, how does see it feel? When

578
00:25:45,400 --> 00:25:48,640
Speaker 3: do you look at that? It's so funny it almost

579
00:25:48,640 --> 00:25:52,159
Speaker 3: doesn't feel real, just because again, I grew up with

580
00:25:52,280 --> 00:25:55,520
Speaker 3: parents who had relatively good basic financial knowledge, but they

581
00:25:55,560 --> 00:26:00,359
Speaker 3: certainly weren't investors, They weren't financial planners. You know. Helped

582
00:26:00,359 --> 00:26:01,720
Speaker 3: me with some basics. They helped me with thinks like

583
00:26:01,760 --> 00:26:03,359
Speaker 3: setting up my super when I was when I got

584
00:26:03,359 --> 00:26:06,040
Speaker 3: my first job, which I really appreciate. So to think

585
00:26:06,080 --> 00:26:09,080
Speaker 3: that someone who sort of started when they were older too.

586
00:26:09,119 --> 00:26:11,640
Speaker 3: I was twenty eight or twenty seven, twenty eight when

587
00:26:11,640 --> 00:26:13,960
Speaker 3: we started investing. I say to my I've got some

588
00:26:14,040 --> 00:26:15,280
Speaker 3: of my friends on a tour and you know, they're

589
00:26:15,320 --> 00:26:16,920
Speaker 3: twenty one, and I'm like, I wish i'd been like

590
00:26:16,960 --> 00:26:18,479
Speaker 3: you and I'd started when I was twenty one. I

591
00:26:18,480 --> 00:26:20,280
Speaker 3: was like, but then, I know there'd be people who

592
00:26:20,280 --> 00:26:21,919
Speaker 3: are forty who got I wish i'd started when I

593
00:26:21,920 --> 00:26:25,480
Speaker 3: was twenty seven. So you know, exactly, get someone who's

594
00:26:25,480 --> 00:26:28,960
Speaker 3: twenty one or eighteen or fourteen to you know, get started.

595
00:26:29,520 --> 00:26:32,840
Speaker 3: It's like you have so much time on your side, Yeah, exactly.

596
00:26:33,040 --> 00:26:34,560
Speaker 1: You know, the sooner the better, And it's you know,

597
00:26:35,040 --> 00:26:37,359
Speaker 1: as you said, don't wait until you know absolutely everything.

598
00:26:37,359 --> 00:26:40,040
Speaker 1: Sometimes just getting started and learning as you go is

599
00:26:40,080 --> 00:26:40,960
Speaker 1: the best way to learn.

600
00:26:41,040 --> 00:26:41,880
Speaker 2: And even the.

601
00:26:41,840 --> 00:26:46,040
Speaker 1: Most experienced sophisticated investors make mistakes. And you know, financial

602
00:26:46,080 --> 00:26:48,359
Speaker 1: strategy is not something you just decide, Okay, this is

603
00:26:48,359 --> 00:26:49,680
Speaker 1: what we're going to do, and we stick to it

604
00:26:49,720 --> 00:26:50,360
Speaker 1: like well, you know.

605
00:26:50,320 --> 00:26:52,479
Speaker 2: We are constantly. You know, our lives evolved and our

606
00:26:52,520 --> 00:26:54,879
Speaker 2: financial strategy needs to evolve with us. So you know,

607
00:26:54,960 --> 00:26:58,640
Speaker 2: it's it's that's normal and that's natural. And also that's

608
00:26:58,840 --> 00:27:00,919
Speaker 2: really healthy because the laws change.

609
00:27:01,400 --> 00:27:03,359
Speaker 1: You know, there are opportunities that come up, you can

610
00:27:03,400 --> 00:27:05,000
Speaker 1: see a potential risk you need to.

611
00:27:04,960 --> 00:27:06,920
Speaker 2: Deviate or you know, navigate around.

612
00:27:07,040 --> 00:27:10,560
Speaker 1: So it's really really important that you get started, but

613
00:27:10,640 --> 00:27:13,480
Speaker 1: don't wait for everything to be in perfect alignment, because

614
00:27:13,480 --> 00:27:15,679
Speaker 1: you're going to be making mistakes and changes along the way,

615
00:27:15,720 --> 00:27:19,040
Speaker 1: which is perfectly normal and natural. Now you're a mother,

616
00:27:19,359 --> 00:27:22,280
Speaker 1: I'd love to hear you know how you know becoming

617
00:27:22,280 --> 00:27:26,640
Speaker 1: a parent has impacted your you know barister fire goals,

618
00:27:26,920 --> 00:27:29,720
Speaker 1: and how it's impacted to your cash flow, you know

619
00:27:29,760 --> 00:27:34,000
Speaker 1: your lifestyle choices, and you know what financial freedom really

620
00:27:34,040 --> 00:27:34,640
Speaker 1: means to you.

621
00:27:36,240 --> 00:27:41,080
Speaker 3: So I am so blessed. So we have an almost

622
00:27:41,080 --> 00:27:44,320
Speaker 3: four you it'd before wore in July, but so I

623
00:27:44,400 --> 00:27:47,320
Speaker 3: took off the first six months after he was born

624
00:27:47,440 --> 00:27:50,800
Speaker 3: was a stay at home mum and Hubby was at work,

625
00:27:50,880 --> 00:27:53,280
Speaker 3: and then Hubby took a year off and I went

626
00:27:53,320 --> 00:27:54,840
Speaker 3: back to it for a year. And after I went

627
00:27:54,880 --> 00:27:57,160
Speaker 3: back to work three year, I was like, nah, it's

628
00:27:57,200 --> 00:27:59,159
Speaker 3: not for me. Like I just was like, no, I

629
00:27:59,240 --> 00:28:02,920
Speaker 3: much rather be home. And so then I've been at

630
00:28:02,960 --> 00:28:05,480
Speaker 3: home since I currently web slatman. So my son He

631
00:28:05,520 --> 00:28:08,480
Speaker 3: goes childcare two days a week, which he absolutely loves.

632
00:28:08,680 --> 00:28:11,440
Speaker 3: But I work just up casually two days a week

633
00:28:11,600 --> 00:28:15,880
Speaker 3: at the local university, doing some lecturing and doing some marking,

634
00:28:16,240 --> 00:28:19,000
Speaker 3: which I really love. It's super family friendly and my

635
00:28:19,040 --> 00:28:22,679
Speaker 3: boss lovel But being able to have the flexibility to

636
00:28:22,720 --> 00:28:25,000
Speaker 3: spend time with him, to take him to swimming, you know,

637
00:28:25,680 --> 00:28:30,439
Speaker 3: is so amazing. And it's because of the position, you know,

638
00:28:30,560 --> 00:28:35,159
Speaker 3: like all that hard work we did beforehand, And I

639
00:28:35,160 --> 00:28:37,439
Speaker 3: mean I know some parents like they love you know,

640
00:28:37,480 --> 00:28:39,080
Speaker 3: they love their job. They love being good to go

641
00:28:39,200 --> 00:28:41,400
Speaker 3: able to go back to it. For me, as a teacher,

642
00:28:41,440 --> 00:28:43,960
Speaker 3: I struggled in that, like five days a week was

643
00:28:44,000 --> 00:28:47,680
Speaker 3: a lot and it was a lot of hours. And again,

644
00:28:47,720 --> 00:28:49,280
Speaker 3: if you're in a position where you know you can

645
00:28:49,520 --> 00:28:51,920
Speaker 3: negotiat part time, you know you might find it easy.

646
00:28:52,160 --> 00:28:54,200
Speaker 3: Just for me, I had a really hard time with it.

647
00:28:54,800 --> 00:28:58,200
Speaker 3: So then habi we moved. We moved. We left remote.

648
00:28:58,200 --> 00:29:00,480
Speaker 3: We were remote until he was eighteen months. Told we're like,

649
00:29:00,480 --> 00:29:01,800
Speaker 3: we're going to move to town. We just want a

650
00:29:01,800 --> 00:29:04,200
Speaker 3: bit more support, a few more things for him to do.

651
00:29:04,840 --> 00:29:07,120
Speaker 3: Having got a new job, and I've been again. I

652
00:29:07,160 --> 00:29:09,560
Speaker 3: was at home full time for the first year and

653
00:29:09,600 --> 00:29:12,840
Speaker 3: a half and then have working part time now about

654
00:29:12,840 --> 00:29:13,200
Speaker 3: a year.

655
00:29:13,880 --> 00:29:15,120
Speaker 2: I'm so jealous that you have that.

656
00:29:15,880 --> 00:29:18,520
Speaker 1: I mean I work technically, I work four days a week,

657
00:29:18,560 --> 00:29:21,640
Speaker 1: but then I you know, spend my weekends frantically catching

658
00:29:21,720 --> 00:29:24,600
Speaker 1: up on that you know, that fifth day. But to

659
00:29:24,680 --> 00:29:27,120
Speaker 1: have that sounds like you've got a beautiful balance where

660
00:29:27,120 --> 00:29:30,760
Speaker 1: you can enjoy, you know, the stimulation of work and

661
00:29:30,800 --> 00:29:33,239
Speaker 1: feeling like you're owning, owning money and contributing, but then

662
00:29:33,240 --> 00:29:35,800
Speaker 1: you also have that beautiful, sacred special time.

663
00:29:35,680 --> 00:29:37,800
Speaker 2: To enjoy your little one, you know.

664
00:29:37,840 --> 00:29:40,640
Speaker 1: Whilst you know he's wants to be with his mum,

665
00:29:40,640 --> 00:29:43,680
Speaker 1: and those of hugs and kisses and those really important

666
00:29:43,680 --> 00:29:46,320
Speaker 1: time where you just bond and connect and create those

667
00:29:46,360 --> 00:29:50,120
Speaker 1: important memories and the building blocks of of a little child,

668
00:29:50,120 --> 00:29:52,520
Speaker 1: and you know, the character that's formed that comes with

669
00:29:52,680 --> 00:29:53,080
Speaker 1: having a.

670
00:29:53,040 --> 00:29:55,000
Speaker 2: Parent that's around it and present as well.

671
00:29:55,080 --> 00:29:58,600
Speaker 1: So you know, I think you've got such an inspirational

672
00:29:59,080 --> 00:30:03,000
Speaker 1: life and so beautifully balanced, not just financially, but you know,

673
00:30:03,280 --> 00:30:04,600
Speaker 1: behind the scenes as well.

674
00:30:04,920 --> 00:30:05,720
Speaker 2: Coming back to.

675
00:30:05,680 --> 00:30:09,280
Speaker 1: Your investment portfolio, you know, you transition from you know

676
00:30:09,520 --> 00:30:13,680
Speaker 1: the ETFs like what is your you know, you simplified

677
00:30:13,720 --> 00:30:15,360
Speaker 1: it and you could see where there was a bit

678
00:30:15,400 --> 00:30:17,480
Speaker 1: of a duplication and just tied it up the portfolio.

679
00:30:17,680 --> 00:30:21,280
Speaker 1: What is your financial strategy today with that three hundred

680
00:30:21,320 --> 00:30:23,920
Speaker 1: and fifty thousand dollars investment portfolio.

681
00:30:24,240 --> 00:30:26,400
Speaker 3: So we have some So originally when we started, we

682
00:30:26,400 --> 00:30:28,720
Speaker 3: were investing just in Hubby's name because as the lower

683
00:30:28,760 --> 00:30:31,800
Speaker 3: income earner, that made sense back then. So again about

684
00:30:31,800 --> 00:30:34,640
Speaker 3: twenty seventeen, having kids was not on our radar at all.

685
00:30:34,840 --> 00:30:37,080
Speaker 3: So at the time, I was like, given I was

686
00:30:37,520 --> 00:30:40,960
Speaker 3: back then, I had my masters, I was doing quite

687
00:30:41,000 --> 00:30:43,360
Speaker 3: well in my career, so sort of from what we

688
00:30:43,400 --> 00:30:45,760
Speaker 3: could see for the foreseeable future, I was going to

689
00:30:45,800 --> 00:30:48,640
Speaker 3: stay as the main income earner. So we're like, we

690
00:30:48,720 --> 00:30:52,160
Speaker 3: invested in his name. Then obviously over time things changed

691
00:30:52,440 --> 00:30:55,240
Speaker 3: once we realized actually I was going to be off

692
00:30:55,280 --> 00:30:57,600
Speaker 3: being a mum, we started investing a bit in my name.

693
00:30:57,880 --> 00:31:01,760
Speaker 3: But so we both have some Australian focused ETF and

694
00:31:01,800 --> 00:31:05,120
Speaker 3: Australian focused Etif that's or A two hundred, just depend

695
00:31:05,200 --> 00:31:07,880
Speaker 3: on what we bought first. So for him, he has

696
00:31:07,920 --> 00:31:09,680
Speaker 3: all a two hundred because that's what I'd always bought

697
00:31:09,800 --> 00:31:13,040
Speaker 3: his name. When I started, I'd started in THEAS so

698
00:31:13,200 --> 00:31:16,800
Speaker 3: just kept that, and then we have an all world

699
00:31:16,880 --> 00:31:20,480
Speaker 3: so he has I have VGs, and then he has

700
00:31:20,520 --> 00:31:22,680
Speaker 3: a US which is IVV. That's it, just born. Now,

701
00:31:23,040 --> 00:31:26,120
Speaker 3: that's enough, I reckon. At the highest between the two

702
00:31:26,200 --> 00:31:30,720
Speaker 3: of us, we probably had maybe eight or nine different holdings,

703
00:31:30,840 --> 00:31:32,520
Speaker 3: which was not an effective strategy.

704
00:31:32,720 --> 00:31:34,520
Speaker 1: So how did you work out which ones you wanted

705
00:31:34,560 --> 00:31:38,000
Speaker 1: to you know, sell and you know, how did you

706
00:31:38,040 --> 00:31:41,080
Speaker 1: work out the actual underlying consolidation? Was that a complicated process?

707
00:31:41,120 --> 00:31:43,320
Speaker 1: Did you feel a bit scared doing it? Did you

708
00:31:43,360 --> 00:31:45,560
Speaker 1: get vice from accountant or a financial planner?

709
00:31:45,840 --> 00:31:49,320
Speaker 3: So, funnily enough, it was on Instagram. I had been

710
00:31:49,360 --> 00:31:53,280
Speaker 3: talking to some people and I'd mentioned about at the time,

711
00:31:53,320 --> 00:31:54,880
Speaker 3: I was talking about how I was staying in the

712
00:31:54,960 --> 00:31:57,040
Speaker 3: job I was in even though I didn't love it,

713
00:31:57,120 --> 00:31:59,040
Speaker 3: because even though I'd been having some issues because I'd

714
00:31:59,040 --> 00:32:01,240
Speaker 3: been there so long and I'd devoted so much time

715
00:32:01,280 --> 00:32:03,400
Speaker 3: to it and it felt like a waste. And they're like, oh, no,

716
00:32:03,520 --> 00:32:06,240
Speaker 3: that's the thing. It's called the sunk cost fallacy. And

717
00:32:06,320 --> 00:32:08,280
Speaker 3: I was like, oh okay. So I read up on

718
00:32:08,320 --> 00:32:10,760
Speaker 3: the sunk cost fallacy and I was like, oh okay, yep,

719
00:32:10,840 --> 00:32:13,880
Speaker 3: that pretty much exactly describes how I feel this idea

720
00:32:13,880 --> 00:32:16,080
Speaker 3: of just holding on to it because I've invested so

721
00:32:16,160 --> 00:32:18,440
Speaker 3: much time it would be a waste to give up. Now,

722
00:32:19,320 --> 00:32:21,960
Speaker 3: basically we got to that point. I was holding on

723
00:32:22,000 --> 00:32:23,760
Speaker 3: to some of these holdings because well, I've had them

724
00:32:23,760 --> 00:32:26,440
Speaker 3: so long it feels like a waste. But very much

725
00:32:26,440 --> 00:32:28,640
Speaker 3: there were a few I'd realized early in the journey

726
00:32:28,880 --> 00:32:32,000
Speaker 3: that were not quite right, so they'd stayed at two thousand,

727
00:32:32,080 --> 00:32:34,080
Speaker 3: where some of the other holdings had grown to you know,

728
00:32:34,160 --> 00:32:37,680
Speaker 3: fifty thousand, sixty thousand, seventy thousand. So, for example, the

729
00:32:37,760 --> 00:32:41,360
Speaker 3: VTS that was one of the first to go because

730
00:32:41,480 --> 00:32:44,840
Speaker 3: it was US domicil. It was more paperwork, and not

731
00:32:44,920 --> 00:32:48,000
Speaker 3: that long after we'd invested in BTS, I found IVV

732
00:32:48,280 --> 00:32:52,280
Speaker 3: as an alternative option investing in you know, very similar holdings,

733
00:32:52,320 --> 00:32:54,880
Speaker 3: but it was Australian domicild, so I didn't have to

734
00:32:54,920 --> 00:32:57,080
Speaker 3: do the extra paperwork at the time. I was when

735
00:32:57,160 --> 00:32:59,400
Speaker 3: I realized when it was time to consolidate the portfolio.

736
00:32:59,440 --> 00:33:02,000
Speaker 3: I'm like, this is this holding's got two thousand dollars

737
00:33:02,040 --> 00:33:04,680
Speaker 3: in it. You hate doing the paperwork every whatever two

738
00:33:04,760 --> 00:33:07,320
Speaker 3: three years. You refused to invest anymore in it because

739
00:33:07,360 --> 00:33:09,000
Speaker 3: at the pain just get rid of it and be

740
00:33:09,080 --> 00:33:12,840
Speaker 3: done with it. And the other reason for consolidation. I

741
00:33:12,880 --> 00:33:15,440
Speaker 3: hope it doesn't happen. But while I am very confident

742
00:33:15,480 --> 00:33:17,920
Speaker 3: with our money, I am conscious if anything ever happened

743
00:33:17,960 --> 00:33:19,480
Speaker 3: to me and I had to hand it over to

744
00:33:19,520 --> 00:33:21,560
Speaker 3: my husband, I want to make sure that it's something

745
00:33:21,600 --> 00:33:24,440
Speaker 3: he could manage on his own. And having nine different

746
00:33:24,480 --> 00:33:27,400
Speaker 3: holding some us homicide, You've got to file this paperwork

747
00:33:27,440 --> 00:33:29,880
Speaker 3: otherwise it affects the tax we're holding. I was like,

748
00:33:29,920 --> 00:33:32,680
Speaker 3: that's not fair on him. Let's just make the call.

749
00:33:32,760 --> 00:33:35,360
Speaker 3: And that became even more clear after we had our son.

750
00:33:35,480 --> 00:33:37,280
Speaker 3: I wanted to make sure that if anything ever happened

751
00:33:37,320 --> 00:33:40,160
Speaker 3: to me or God forbid myself and my husband, that

752
00:33:40,600 --> 00:33:42,600
Speaker 3: my son was going to be taken care of. You know,

753
00:33:42,720 --> 00:33:45,440
Speaker 3: that it wasn't going to be this overwhelming nightmare for

754
00:33:45,480 --> 00:33:47,160
Speaker 3: whoever had to sort out our affairs.

755
00:33:47,600 --> 00:33:49,280
Speaker 1: Yeah, so it looks like, you know, you look at

756
00:33:49,400 --> 00:33:52,240
Speaker 1: you wet through your goals of like simplicity, You know

757
00:33:52,280 --> 00:33:56,600
Speaker 1: your values and obviously looked at you know, potential tracks

758
00:33:56,640 --> 00:33:59,040
Speaker 1: being triggered and what the pros and cons and ran

759
00:33:59,120 --> 00:34:02,040
Speaker 1: all the numbers before you made any final decisions as

760
00:34:02,040 --> 00:34:04,400
Speaker 1: to how to clean up the portfolio.

761
00:34:04,680 --> 00:34:06,200
Speaker 3: Yeah, so it just took a bit of time. But

762
00:34:06,240 --> 00:34:07,600
Speaker 3: like I said, there were a few holdings that were

763
00:34:07,600 --> 00:34:10,200
Speaker 3: only really small. We just colored those and I just

764
00:34:10,200 --> 00:34:12,239
Speaker 3: looked at now I know what I'm talking about, and

765
00:34:12,280 --> 00:34:14,480
Speaker 3: I was like, you know what, I just want us

766
00:34:14,520 --> 00:34:18,080
Speaker 3: Australian all World. That's enough. Yeah, then between the two

767
00:34:18,120 --> 00:34:19,719
Speaker 3: of us, it's like who's got the US, who's got

768
00:34:19,719 --> 00:34:21,600
Speaker 3: the Astraian, Who's got the All World? And then I

769
00:34:21,680 --> 00:34:24,000
Speaker 3: was like, that's it. Two holdings each to a dune, okay,

770
00:34:24,000 --> 00:34:24,920
Speaker 3: And looking ahead.

771
00:34:25,000 --> 00:34:27,120
Speaker 1: You know, I mentioned the beginning of this episode that

772
00:34:27,200 --> 00:34:30,040
Speaker 1: you know, you've got the Barista fire strategy, and for

773
00:34:30,080 --> 00:34:33,239
Speaker 1: our listeners who are not familiar with the Borister fire strategies,

774
00:34:33,719 --> 00:34:37,120
Speaker 1: essentially where you look to build up your financial freedom,

775
00:34:37,160 --> 00:34:39,279
Speaker 1: but you allows you to actually have the choice of

776
00:34:39,320 --> 00:34:42,279
Speaker 1: working part time should you wish when it comes to

777
00:34:42,400 --> 00:34:45,640
Speaker 1: your you know, fire goals and your Barista fire goals.

778
00:34:45,800 --> 00:34:46,719
Speaker 3: You know, are you.

779
00:34:46,719 --> 00:34:47,760
Speaker 2: Tracking your income?

780
00:34:47,800 --> 00:34:51,680
Speaker 1: Are you is your desire motivation fueled by the value

781
00:34:51,680 --> 00:34:55,160
Speaker 1: of your portfolio? You know, how does the whole fire

782
00:34:55,239 --> 00:34:57,879
Speaker 1: story come into your investment strategy and your and your

783
00:34:57,920 --> 00:35:00,799
Speaker 1: goals and all of the hard work you're putting into this.

784
00:35:01,200 --> 00:35:04,319
Speaker 3: Originally we've been looking at Fire. Then our son was born,

785
00:35:04,400 --> 00:35:06,040
Speaker 3: and I was kind of like, you know what, Actually

786
00:35:06,320 --> 00:35:09,879
Speaker 3: I would rather work part time as I'm doing now,

787
00:35:10,080 --> 00:35:12,560
Speaker 3: but I'd rather us both be working part time earlier,

788
00:35:12,719 --> 00:35:14,719
Speaker 3: which is the idea of Arista Fire. I want to

789
00:35:14,719 --> 00:35:17,080
Speaker 3: have more time doing the fun stuff now. I looked

790
00:35:17,120 --> 00:35:20,520
Speaker 3: at roughly what I thought our yearly expenses were, give

791
00:35:20,600 --> 00:35:22,479
Speaker 3: or take. So we're lucky enough to be mortgage free,

792
00:35:22,520 --> 00:35:26,600
Speaker 3: and that came about after we sold our DHA investment property.

793
00:35:26,600 --> 00:35:29,920
Speaker 3: The proceeds from that we made a little bit of profit,

794
00:35:29,960 --> 00:35:32,960
Speaker 3: but also what we paid off the mortgage meant that

795
00:35:33,000 --> 00:35:35,040
Speaker 3: we could pay off the mortgage of our own house.

796
00:35:35,520 --> 00:35:38,719
Speaker 3: So given we're mortgage free, and we have two so

797
00:35:38,920 --> 00:35:41,760
Speaker 3: at twenty twenty one Prato and at twenty twenty three ASEX,

798
00:35:41,760 --> 00:35:45,040
Speaker 3: so two relatively newish cars, so not too many outgoings

799
00:35:45,080 --> 00:35:47,920
Speaker 3: in terms of you know, regular car repairs or expecting

800
00:35:47,920 --> 00:35:51,239
Speaker 3: to outdate a car, and no mortgage. Our yearly expenses

801
00:35:51,280 --> 00:35:55,799
Speaker 3: were sitting around about sixty five thousand groceries, health, you know,

802
00:35:55,920 --> 00:36:00,479
Speaker 3: the insurances. Thinking about all of our daily expenses out

803
00:36:00,560 --> 00:36:04,000
Speaker 3: so looking at that, if we could fund approximately twenty

804
00:36:04,080 --> 00:36:08,439
Speaker 3: seven thousand of that through investment income. I earned twenty

805
00:36:08,520 --> 00:36:11,359
Speaker 3: thousand and Hobby earned twenty thousand working part time. I

806
00:36:11,440 --> 00:36:14,880
Speaker 3: was like, well, this would be bista fy for us.

807
00:36:14,920 --> 00:36:18,160
Speaker 3: We would be covering our daily expenses through my part

808
00:36:18,200 --> 00:36:21,360
Speaker 3: time work is part time work, and our investment expenses

809
00:36:21,600 --> 00:36:25,200
Speaker 3: and sort of we've talked about there's flexibility there. Right now,

810
00:36:25,239 --> 00:36:28,400
Speaker 3: I'm doing my UNI work, which I love, but it

811
00:36:28,480 --> 00:36:31,360
Speaker 3: might be relief teaching. Look, I might end up working

812
00:36:31,400 --> 00:36:33,640
Speaker 3: in you know, local cafe. I'm not sure. But the

813
00:36:33,719 --> 00:36:36,800
Speaker 3: calculations were assumed we were earning about twenty thousand each

814
00:36:36,960 --> 00:36:41,320
Speaker 3: investment earnings making up the rest, and twenty seven thousand

815
00:36:41,320 --> 00:36:43,960
Speaker 3: dollars we worked out to be roughly six hundred and

816
00:36:44,000 --> 00:36:46,160
Speaker 3: seventy five seven hundred thousand invested.

817
00:36:46,360 --> 00:36:48,279
Speaker 2: Well, how are you going to get from like one

818
00:36:48,320 --> 00:36:49,719
Speaker 2: of the things you've got in mind to.

819
00:36:49,680 --> 00:36:51,839
Speaker 1: Help grow your portfolio, because you're already already at three

820
00:36:51,880 --> 00:36:54,640
Speaker 1: hundred and fifty thousand, Where do you see yourself making

821
00:36:54,680 --> 00:36:57,000
Speaker 1: the most of all these opportunities around you to make

822
00:36:57,040 --> 00:36:59,480
Speaker 1: sure that you arrive there, not necessarily on time, but

823
00:36:59,520 --> 00:37:01,680
Speaker 1: make the most of all the opportunities to the best

824
00:37:01,680 --> 00:37:04,160
Speaker 1: of your ability, Like what's your strategy going forward.

825
00:37:04,400 --> 00:37:06,279
Speaker 3: This has been something we've done for as long as

826
00:37:06,320 --> 00:37:07,920
Speaker 3: we've been on the same page about money is at

827
00:37:07,960 --> 00:37:10,000
Speaker 3: the start of every year we set our goal. One

828
00:37:10,080 --> 00:37:12,919
Speaker 3: of our goals the last few years has been around, say,

829
00:37:13,480 --> 00:37:15,840
Speaker 3: spending mindfully on things that bring us joy. So that

830
00:37:16,000 --> 00:37:18,480
Speaker 3: part of where we're trying, you know, if it's something

831
00:37:18,480 --> 00:37:21,040
Speaker 3: that will truly make us happy, we don't you know,

832
00:37:21,120 --> 00:37:24,120
Speaker 3: don't miss out. But also considering really is that what

833
00:37:24,160 --> 00:37:26,520
Speaker 3: will make us happy, Like so it might be no

834
00:37:26,960 --> 00:37:29,719
Speaker 3: to say a party on the weekend, you know, like

835
00:37:29,800 --> 00:37:31,360
Speaker 3: going out to the club on the weekend, you know

836
00:37:31,400 --> 00:37:33,720
Speaker 3: with friendsy that's you know, not going to make us happy.

837
00:37:33,719 --> 00:37:36,799
Speaker 3: But yes to a weekend away at Catherine or you know,

838
00:37:36,920 --> 00:37:40,560
Speaker 3: whatever it is. But also part of our goals is

839
00:37:40,600 --> 00:37:42,160
Speaker 3: we normally set a goal of how much we want

840
00:37:42,160 --> 00:37:45,640
Speaker 3: to invest each year. The past few years we aim

841
00:37:45,719 --> 00:37:48,600
Speaker 3: for five lots of ten thousand dollars invested, So five

842
00:37:48,680 --> 00:37:52,440
Speaker 3: ten thousand dollars parcels throughout the year. And I tracked that.

843
00:37:52,640 --> 00:37:54,480
Speaker 3: I tracked that on an app. You know how close

844
00:37:54,520 --> 00:37:57,399
Speaker 3: we are When these extra account the same account hits

845
00:37:57,400 --> 00:37:59,920
Speaker 3: ten thousand, it gets transferred to the investing account invested

846
00:38:00,120 --> 00:38:02,759
Speaker 3: and then cross that off move to the next And

847
00:38:02,800 --> 00:38:05,080
Speaker 3: so I've worked out if we can sort of keep

848
00:38:05,080 --> 00:38:08,800
Speaker 3: that consistency up which we have over the past few years,

849
00:38:09,719 --> 00:38:11,960
Speaker 3: keep that consistency yup, that should get us a brister

850
00:38:12,040 --> 00:38:15,400
Speaker 3: fier by twenty thirty. Compound interest calculator on the Australian

851
00:38:15,400 --> 00:38:18,120
Speaker 3: Money Smart website is really helpful for running some of

852
00:38:18,120 --> 00:38:21,680
Speaker 3: those figures. And that's what I for helped me work out,

853
00:38:21,719 --> 00:38:24,640
Speaker 3: you know, like if I invest this much each year,

854
00:38:24,640 --> 00:38:27,440
Speaker 3: how much could I see you know, my investment potentially

855
00:38:27,480 --> 00:38:30,879
Speaker 3: grow by I mean, obviously it's not set in dome,

856
00:38:31,000 --> 00:38:33,720
Speaker 3: but it help guide understand how some of the numbers

857
00:38:33,800 --> 00:38:34,840
Speaker 3: might look in practice.

858
00:38:34,920 --> 00:38:37,200
Speaker 1: Can I up the ante on that and suggest that

859
00:38:37,239 --> 00:38:39,680
Speaker 1: you jump onto the Sugar Mama website and go to

860
00:38:39,719 --> 00:38:42,520
Speaker 1: the calculators there. Have you seen our dividend growth calculator?

861
00:38:42,800 --> 00:38:44,760
Speaker 2: No, You're going to get very excited.

862
00:38:44,920 --> 00:38:47,719
Speaker 1: So you can plug everything in and when it comes

863
00:38:47,719 --> 00:38:49,920
Speaker 1: to the difference here is you can actually see the

864
00:38:50,280 --> 00:38:52,000
Speaker 1: underlying passive income each.

865
00:38:51,880 --> 00:38:54,799
Speaker 2: Year and you know the variables. You know, when people say,

866
00:38:54,840 --> 00:38:55,640
Speaker 2: well how do I use this?

867
00:38:55,760 --> 00:38:58,240
Speaker 1: You know, obviously I don't know how you've invested and

868
00:38:58,280 --> 00:38:59,719
Speaker 1: what's inside your portfolio.

869
00:38:59,719 --> 00:39:01,440
Speaker 2: But if if you instead of just putting in.

870
00:39:01,320 --> 00:39:04,840
Speaker 1: Like a normal compounding growth calculator, which is a great

871
00:39:05,080 --> 00:39:07,239
Speaker 1: guide as well, this just goes into so I guess

872
00:39:07,280 --> 00:39:10,480
Speaker 1: another level and fuels even further motivation, particularly when you

873
00:39:10,520 --> 00:39:12,840
Speaker 1: add the element of dividend growth. But instead of just

874
00:39:12,840 --> 00:39:16,120
Speaker 1: putting in a flat, say seven point five percent net

875
00:39:16,160 --> 00:39:18,120
Speaker 1: return each year, you can actually go, well, hang on,

876
00:39:18,360 --> 00:39:21,040
Speaker 1: I have an average dividend yield of say four percent.

877
00:39:21,400 --> 00:39:23,560
Speaker 1: You're using the same sort of figures, but the way

878
00:39:23,680 --> 00:39:26,880
Speaker 1: the difference is because you're investing in shares, and I'm

879
00:39:26,880 --> 00:39:29,120
Speaker 1: going to refer just to the Australian shares side of it.

880
00:39:29,160 --> 00:39:31,480
Speaker 1: And this is why I'm so passionate about the Australian

881
00:39:31,560 --> 00:39:33,920
Speaker 1: share market, particularly industrial shares and things.

882
00:39:33,840 --> 00:39:35,000
Speaker 2: Like misted investment companies.

883
00:39:35,040 --> 00:39:36,960
Speaker 1: You know, if you look at what the ASX does

884
00:39:37,000 --> 00:39:39,680
Speaker 1: from the dividends on average, and you fee look at

885
00:39:39,680 --> 00:39:41,839
Speaker 1: the white Field website, you can see this as well.

886
00:39:41,840 --> 00:39:44,560
Speaker 1: But no, on average, you know, the dividend for Whitefield

887
00:39:44,600 --> 00:39:47,000
Speaker 1: has increased each year by on average five percent. So

888
00:39:47,080 --> 00:39:49,480
Speaker 1: if you even just go put in a dividend growth

889
00:39:49,480 --> 00:39:52,040
Speaker 1: of say four percent to be conservative and say three

890
00:39:52,040 --> 00:39:53,480
Speaker 1: point five percent capital growth.

891
00:39:53,520 --> 00:39:54,640
Speaker 2: You can see the.

892
00:39:54,440 --> 00:39:57,160
Speaker 1: Breakdown in more detail, and you can see the power

893
00:39:57,239 --> 00:39:59,680
Speaker 1: of not just compounding interest, but the power of growing

894
00:39:59,719 --> 00:40:02,719
Speaker 1: div which is where the magic of industrial shares really

895
00:40:02,719 --> 00:40:05,839
Speaker 1: comes into a fire strategy, particular for yourself. So as

896
00:40:05,840 --> 00:40:07,400
Speaker 1: you were saying your numbers, that was quickly like writing

897
00:40:07,440 --> 00:40:09,680
Speaker 1: them down. Obviously I don't have the calculator in front

898
00:40:09,680 --> 00:40:12,520
Speaker 1: of me because we're talking, but I can see on

899
00:40:12,880 --> 00:40:15,520
Speaker 1: like off the top of the page, you're going to

900
00:40:15,560 --> 00:40:17,960
Speaker 1: be on track by twenty thirty if you stick to

901
00:40:18,000 --> 00:40:20,680
Speaker 1: this strategy, because if you're reinvesting everything and you're accounting

902
00:40:20,680 --> 00:40:22,160
Speaker 1: to for a tacks along the way of course as

903
00:40:22,160 --> 00:40:23,960
Speaker 1: well in feace and so forth. I mean, I'm so

904
00:40:24,040 --> 00:40:26,800
Speaker 1: excited for you this, what you've done and what everything

905
00:40:26,800 --> 00:40:29,399
Speaker 1: you've said to me makes a lot of sense. And

906
00:40:29,760 --> 00:40:32,680
Speaker 1: I think your fire strategy is going to provide you

907
00:40:32,719 --> 00:40:36,080
Speaker 1: with a continuous flow of greater financial freedom. You know

908
00:40:36,239 --> 00:40:38,160
Speaker 1: well into the long run. This is not something I

909
00:40:38,200 --> 00:40:40,719
Speaker 1: see ever running out for you guys. You know, with

910
00:40:40,800 --> 00:40:43,400
Speaker 1: this type of mindset and this sense of self discipline

911
00:40:43,640 --> 00:40:46,320
Speaker 1: and you know you're growing level of education, it sounds

912
00:40:46,360 --> 00:40:50,080
Speaker 1: like you're still continuously learning more, you know, understanding more

913
00:40:50,160 --> 00:40:52,800
Speaker 1: and tweaking and changing and improving your strategy and jumping

914
00:40:52,800 --> 00:40:55,719
Speaker 1: on all those opportunities, but also living a life with

915
00:40:56,200 --> 00:40:58,160
Speaker 1: you know, as you said, that balance of joy and

916
00:40:58,160 --> 00:41:00,560
Speaker 1: what you actually enjoy spending mone money on so that

917
00:41:00,600 --> 00:41:03,280
Speaker 1: you make the most of everything, you know, spending money,

918
00:41:03,280 --> 00:41:06,279
Speaker 1: the flow of money, obviously investing that money. So all right,

919
00:41:06,320 --> 00:41:09,399
Speaker 1: for everyone who's listening to this episode, you know, what

920
00:41:09,440 --> 00:41:09,879
Speaker 1: would you.

921
00:41:09,840 --> 00:41:12,600
Speaker 2: Say to them about getting started? What are the three key.

922
00:41:12,400 --> 00:41:16,200
Speaker 1: Actions that someone who's walking their dogs at the gym,

923
00:41:16,520 --> 00:41:18,120
Speaker 1: listening to this, or in the car, or on the

924
00:41:18,120 --> 00:41:20,000
Speaker 1: bus or the train, what would you say to them

925
00:41:20,160 --> 00:41:23,320
Speaker 1: so that they start their own fire strategy or brister

926
00:41:23,440 --> 00:41:26,960
Speaker 1: fire strategy without feeling overwhelmed or a sense of a

927
00:41:27,000 --> 00:41:28,319
Speaker 1: block in their lives.

928
00:41:28,320 --> 00:41:30,000
Speaker 3: One of the best things I did to start was, honestly,

929
00:41:30,160 --> 00:41:33,040
Speaker 3: I just sort of submitted myself to the learning, you know,

930
00:41:33,360 --> 00:41:35,680
Speaker 3: listen to the podcast, read the books, and even though

931
00:41:35,840 --> 00:41:38,480
Speaker 3: sometimes I thought I don't I don't really understand well,

932
00:41:38,480 --> 00:41:41,120
Speaker 3: I'd just google it and have a read. And it

933
00:41:41,200 --> 00:41:43,719
Speaker 3: really was just even though it did seem a bit

934
00:41:43,760 --> 00:41:46,359
Speaker 3: overwhelming at first, in and I was like, what does

935
00:41:46,360 --> 00:41:48,960
Speaker 3: that mean? I don't understand. The more I read, the

936
00:41:49,000 --> 00:41:51,360
Speaker 3: more I listened. I used to love like when my

937
00:41:51,560 --> 00:41:53,759
Speaker 3: son with his nick name's move geez. When I did

938
00:41:53,800 --> 00:41:55,840
Speaker 3: the breastfeed I just sit there with my AirPods in it,

939
00:41:55,920 --> 00:41:58,040
Speaker 3: you know, two o'clock in the morning listening to a podcast.

940
00:41:58,400 --> 00:42:00,719
Speaker 3: Just took the opportunity to just say, you know what,

941
00:42:00,800 --> 00:42:02,960
Speaker 3: I'm not good at this and that's okay, which was

942
00:42:03,040 --> 00:42:05,440
Speaker 3: really hard to admit. Now, up until then, I'd been

943
00:42:05,440 --> 00:42:07,160
Speaker 3: good at saving money, so I thought, oh, I'm pretty

944
00:42:07,160 --> 00:42:08,840
Speaker 3: good at money. Look how much money I've got in savings.

945
00:42:08,920 --> 00:42:11,320
Speaker 3: But it wasn't until I was like, oh, there's actually

946
00:42:11,360 --> 00:42:13,600
Speaker 3: another way to do it. I just need to learn

947
00:42:13,640 --> 00:42:16,560
Speaker 3: about it to understand. And then another thing is some

948
00:42:16,600 --> 00:42:20,000
Speaker 3: of those really basic habits I started from that I

949
00:42:20,000 --> 00:42:23,480
Speaker 3: had from when I first started saving they still endure today.

950
00:42:23,800 --> 00:42:27,799
Speaker 3: So things like you know, thinking about do I having it?

951
00:42:27,880 --> 00:42:30,040
Speaker 3: Like want thing? Do I want it? Or do I

952
00:42:30,160 --> 00:42:32,160
Speaker 3: need it? And that was a hard lesson to learn

953
00:42:32,200 --> 00:42:34,759
Speaker 3: it first, you know, like when I'm out shopping, do

954
00:42:34,800 --> 00:42:37,640
Speaker 3: you need you know, the second the second dress? Or

955
00:42:37,719 --> 00:42:39,880
Speaker 3: is just one enough? Like and I would go at

956
00:42:39,920 --> 00:42:41,440
Speaker 3: first of oh, but I'll just get two, you know,

957
00:42:41,520 --> 00:42:44,480
Speaker 3: because I've got the money. Now I've I'm better practice

958
00:42:44,520 --> 00:42:46,720
Speaker 3: at That's some of those habits that you know again,

959
00:42:47,040 --> 00:42:49,520
Speaker 3: things like looking for when things are on half price.

960
00:42:49,600 --> 00:42:50,960
Speaker 3: You know, if it's something I know we use, we

961
00:42:51,120 --> 00:42:54,520
Speaker 3: like the next cafe instance, sachet stick, things for coffee

962
00:42:54,760 --> 00:42:56,920
Speaker 3: you're on special, I pick up too because I know

963
00:42:57,040 --> 00:42:59,399
Speaker 3: we'll use it. If it's something I know we'll use.

964
00:42:59,480 --> 00:43:02,959
Speaker 3: Yet cool, that's, you know, that's justified. But also being

965
00:43:03,000 --> 00:43:06,000
Speaker 3: mindful of the extra stuff that just starts to creep in.

966
00:43:06,400 --> 00:43:10,359
Speaker 3: And I guess the idea of really carefully thinking about

967
00:43:10,400 --> 00:43:12,839
Speaker 3: what are my values. The goal was never and it

968
00:43:12,880 --> 00:43:15,000
Speaker 3: will never be more money. The goal is more time.

969
00:43:15,200 --> 00:43:18,000
Speaker 3: That's for me. That is my enduring thought, you know,

970
00:43:18,040 --> 00:43:19,960
Speaker 3: whenever it comes up, why do you do what you

971
00:43:20,000 --> 00:43:22,120
Speaker 3: do just because I want more time with my family.

972
00:43:22,200 --> 00:43:24,399
Speaker 3: I lost my mum when she was relatively young, and

973
00:43:24,640 --> 00:43:28,440
Speaker 3: her and dad was always always, oh well, you know,

974
00:43:28,560 --> 00:43:30,960
Speaker 3: when we finish work, when we retire, and mum never

975
00:43:31,000 --> 00:43:34,080
Speaker 3: got that chance. So I don't want to wait till

976
00:43:34,080 --> 00:43:37,880
Speaker 3: I retire to go on the holiday, to spend that

977
00:43:37,960 --> 00:43:40,279
Speaker 3: one on one time with Max, to go to his

978
00:43:40,320 --> 00:43:43,560
Speaker 3: footy games, whatever it is. It's like, we're gonna find

979
00:43:43,560 --> 00:43:45,440
Speaker 3: a way to work now, and that's so part of

980
00:43:45,480 --> 00:43:49,400
Speaker 3: that investing. It's like, let's set ourselves up for the

981
00:43:49,520 --> 00:43:53,399
Speaker 3: now so I can enjoy all of that stuff and

982
00:43:53,440 --> 00:43:55,719
Speaker 3: not wait and maybe not get the opportunity.

983
00:43:56,560 --> 00:43:59,759
Speaker 2: Wow, I'm so sorry that you experienced that with your mother.

984
00:43:59,800 --> 00:44:01,239
Speaker 2: That's that is heartbreaking.

985
00:44:01,320 --> 00:44:04,400
Speaker 1: And I love that you've used this to fuel, you know,

986
00:44:04,719 --> 00:44:06,520
Speaker 1: a better life for you and your family.

987
00:44:06,640 --> 00:44:08,960
Speaker 2: So you know, it's really inspiring.

988
00:44:09,520 --> 00:44:13,640
Speaker 1: Look as thank you so much for sharing, for opening up,

989
00:44:13,880 --> 00:44:17,920
Speaker 1: for being so honest and allowing us, you know, to

990
00:44:17,960 --> 00:44:19,400
Speaker 1: be I guess exposed to all of.

991
00:44:19,400 --> 00:44:22,560
Speaker 2: Your inspiration and motivation. Like I'm so truly thankful.

992
00:44:22,200 --> 00:44:24,600
Speaker 1: And I'm actually going to since we get off with

993
00:44:24,320 --> 00:44:27,120
Speaker 1: this recording, I'm going to jump onto the sugar Man

994
00:44:27,120 --> 00:44:28,680
Speaker 1: moves and I'm going to plug in your numbers and

995
00:44:28,719 --> 00:44:30,719
Speaker 1: your strategy and I'm going to send you through a

996
00:44:30,719 --> 00:44:33,400
Speaker 1: little snapshot to show you if as a guide obviously

997
00:44:33,400 --> 00:44:36,239
Speaker 1: it's not seven Stones, you know, but to show you

998
00:44:36,280 --> 00:44:38,760
Speaker 1: how to use the calculators you can plug your numbers

999
00:44:38,800 --> 00:44:41,880
Speaker 1: in and really see you know where you're on track

1000
00:44:41,920 --> 00:44:44,360
Speaker 1: and potentially what you could overachieve if you wanted to

1001
00:44:44,440 --> 00:44:46,200
Speaker 1: as well, because I have a feeling that's well in

1002
00:44:46,239 --> 00:44:49,759
Speaker 1: your reach. Look for everyone who's listened today's episode, again

1003
00:44:49,800 --> 00:44:52,680
Speaker 1: a quick reminder, you know, we spoke about investments, particular

1004
00:44:52,800 --> 00:44:55,759
Speaker 1: investments that Ashes owns and has made. Please remember this

1005
00:44:55,800 --> 00:44:58,680
Speaker 1: is not investment advice, product of myself strategic advice. Always

1006
00:44:58,680 --> 00:45:01,760
Speaker 1: go and see a financial planner and get personal advice

1007
00:45:01,880 --> 00:45:04,520
Speaker 1: based on your time frame, your risk profile, and.

1008
00:45:04,440 --> 00:45:06,080
Speaker 2: What your own value system is.

1009
00:45:06,120 --> 00:45:08,480
Speaker 1: And no, if anyone ever has any questions, please send

1010
00:45:08,480 --> 00:45:12,600
Speaker 1: me an email on Instagram because that's the fastest place

1011
00:45:12,719 --> 00:45:14,919
Speaker 1: to get a hold of me. And for everyone who's

1012
00:45:14,960 --> 00:45:17,600
Speaker 1: just listened, you know, Ash's story really is a reminder

1013
00:45:17,640 --> 00:45:22,239
Speaker 1: that financial independence is definitely not about sacrifice. It's about

1014
00:45:22,280 --> 00:45:25,160
Speaker 1: living a life with intention, you know, having a huge

1015
00:45:25,160 --> 00:45:27,520
Speaker 1: amount of clarity around what you want, what's important to you,

1016
00:45:27,680 --> 00:45:30,799
Speaker 1: and obviously then intentionally choosing what matters the most. And

1017
00:45:30,880 --> 00:45:34,799
Speaker 1: it is so important to build wealth whilst you can,

1018
00:45:35,000 --> 00:45:37,200
Speaker 1: whilst you have the energy, you have the time. But

1019
00:45:37,600 --> 00:45:40,319
Speaker 1: the beautiful thing about Ashes, she's learned to do this

1020
00:45:40,400 --> 00:45:42,560
Speaker 1: in a balance way where she's still present and she's

1021
00:45:42,640 --> 00:45:45,640
Speaker 1: still getting the most out of life and living a

1022
00:45:45,640 --> 00:45:48,520
Speaker 1: life on her own terms. Now, if you love this conversation,

1023
00:45:48,680 --> 00:45:51,000
Speaker 1: please can you do me a huge favor and share

1024
00:45:51,000 --> 00:45:53,360
Speaker 1: it with someone who's ready to make some serious changes

1025
00:45:53,440 --> 00:45:56,520
Speaker 1: in their financial lives and wants to build a better

1026
00:45:56,560 --> 00:45:58,879
Speaker 1: life for themselves and they loved ones. And of course

1027
00:45:58,960 --> 00:46:02,000
Speaker 1: please don't forget too follow and leave a rating and

1028
00:46:02,120 --> 00:46:04,520
Speaker 1: a review, because this really helps me find more people

1029
00:46:04,560 --> 00:46:08,120
Speaker 1: who are looking to spark up their own financial fire.

1030
00:46:08,360 --> 00:46:12,120
Speaker 1: Until next time, everyone, please keep your own financial fire

1031
00:46:12,440 --> 00:46:16,040
Speaker 1: burning bright within This is sugar Mama's fire.