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Speaker 1: Welcome back to another episode of Sugar Mama's Fireplay. I

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Speaker 1: am your host financial planner, Canna Campbell, and today's episode

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Speaker 1: is one that I'm particularly passionate about. It's actually inspired

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Speaker 1: by a segment that I did the other morning on

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Speaker 1: The Today Show where we discussed what happens when your

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Speaker 1: body starts to give out physically before you're actually eligible

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Speaker 1: for the age pension, something that is sadly becoming far

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Speaker 1: too common for Australians in physically demanding jobs, especially as

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Speaker 1: the age pension age is now sixty seven for all Australians. Now,

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Speaker 1: this isn't actually just a financial issue, it's a health,

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Speaker 1: lifestyle and security issue. So today we're going to break

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Speaker 1: through this problem with care, clarity and of course at

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Speaker 1: all times compassion, But more importantly, I want to give

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Speaker 1: you some options, some ideas, some practical strategies that are

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Speaker 1: going to help you protect yourself and of course your

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Speaker 1: financial future, because as we all know, prevention is always

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Speaker 1: better than cure. All Right, the harsh reality of physically

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Speaker 1: demanding work. We've got to accept the reality of this,

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Speaker 1: the truth, even though it's at times uncomfortable to accept.

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Speaker 1: Most Australians work incredibly hard. But for tradespeople, laborers, age

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Speaker 1: care workers, nurses, disability support stuff, this is a different

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Speaker 1: type of heart. It is a physical, hard workload where

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Speaker 1: these people give their bodies, their time and their energy.

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Speaker 1: But the problem is when the body says, I actually.

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Speaker 2: Can't do this anymore. I hurt too much, I'm aching too.

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Speaker 1: Much, my back's gone, my knees gone. But the problem

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Speaker 1: is you're actually years away from being able to access

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Speaker 1: the government's age pension. Now, the age pension age actually

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Speaker 1: rose to sixty seven, and more and more people at

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Speaker 1: discovering that they're actually caught out in a really painful

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Speaker 1: gap where they are not old enough to actually qualify

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Speaker 1: for this government support. That is, they're not aged sixty

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Speaker 1: seven yet, but they also can't actually access their superannuation,

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Speaker 1: but they are physically unable to keep working because they

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Speaker 1: need their income to keep paying the bills. I have

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Speaker 1: heard this from so many people. My back's gone, I'm

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Speaker 1: in constant pain. I simply can't do another eight years

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Speaker 1: of this. I even read in the paper about a

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Speaker 1: construction worker who said he's most likely going.

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Speaker 2: To die with his boots on.

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Speaker 1: And what makes this even harder is that many people

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Speaker 1: are actually in this position, haven't actually built enough superannuation

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Speaker 1: to support themselves to have an earlier retirement, let alone

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Speaker 1: have invested elsewhere for financial freedom and security, And this

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Speaker 1: leads to people then having to scrape by on job seeker,

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Speaker 1: which is paid at an absolute maximum level of seven

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Speaker 1: hundred and forty dollars per fortnite, or instead having to

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Speaker 1: use up what savings they may have built up over time.

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Speaker 1: But then, of course that then leads them feeling like

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Speaker 1: they're going backwards financially, which for some is actually a

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Speaker 1: very accurate description. Now, not only is this heartbreaking, it

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Speaker 1: is to a certain degree preventable, which is what I

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Speaker 1: want to lovingly urge anyone who is in a physically

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Speaker 1: demanding job to start preparing now, even if you're only

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Speaker 1: in your early twenties and you're feeling fit and strong,

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Speaker 1: I want you to start thinking about a safety net

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Speaker 1: and start building that safety net, because our bodies are

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Speaker 1: not machines, and nothing in life is guaranteed or even

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Speaker 1: sustainable these days. So please make sure that you listen

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Speaker 1: to this and you take action today. But you also

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Speaker 1: share this wisdom with anyone else that you know that

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Speaker 1: is in a physically demanding job that they know they

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Speaker 1: can't do forever. So let's move on to the practical steps.

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Speaker 1: So emergency planning that protective buttfer. Now. One of the

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Speaker 1: best tools for your financial toolkit is your emergency fund.

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Speaker 1: I'm always talking about how important this is. If your

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Speaker 1: body gave out tomorrow, would you have three to six

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Speaker 1: months to live off for living expenses. This is not

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Speaker 1: a savings fun that you've got you set aside for

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Speaker 1: say a new holiday or a new car, or buying

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Speaker 1: a new laptop or outfit. This is your ship gets

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Speaker 1: real account. What if everything stops, what if I can't

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Speaker 1: physically work. It's not just a buffer. It's to help

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Speaker 1: you stay afloat until you can swim or paddle or

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Speaker 1: doggy paddle yourself. It buys you time, It gives you

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Speaker 1: the space to heal again. It also helps keep your

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Speaker 1: dignity whilst you figure out what your next move is.

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Speaker 1: I've never had someone say to me that they regret

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Speaker 1: having emergency money. Now a common question is exactly how

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Speaker 1: much do you really need? Okay, you need a lot

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Speaker 1: more than you probably think, particularly if you're in a

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Speaker 1: physically demanding job and burnout physically is real. I recommend

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Speaker 1: you spend some time thinking about how much money and

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Speaker 1: time you would need and like in order to be

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Speaker 1: able to take a break for your body, and then

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Speaker 1: I would go north of that particular figure. Now this

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Speaker 1: may sound unrealistic when you do the numbers, but don't

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Speaker 1: let that stop you.

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Speaker 2: You could start with building up.

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Speaker 1: An emergency fund of say a thousand dollars as a

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Speaker 1: mini goal, and the moment you hit that, you then

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Speaker 1: make it the next goal fifteen hundred, and then two thousand,

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Speaker 1: three hundred, and then three thousand, and then five thousand,

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Speaker 1: five hundred. Keep building it from there, adding as often

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Speaker 1: as you possibly can, and of course you're reviewing and

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Speaker 1: tracking it on a regular basis. You need to look

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Speaker 1: at your own situation. There is no magical formula to

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Speaker 1: work out the right amount of emergency money. I know

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Speaker 1: I've used the example of take six to twelve months,

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Speaker 1: but that's actually not necessarily sufficient or appropriate for absolutely everyone.

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Speaker 1: You need to look at your responsibilities, such as mortgage

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Speaker 1: repayments or children or other financial dependence. You look at

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Speaker 1: the finer details of your situation and what you really want,

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Speaker 1: rather than a generic formula that's going to be potentially misleading. Now,

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Speaker 1: of course, you can think about the other protection safety

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Speaker 1: nets that you have in place, like you might have

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Speaker 1: a large amount of annual leave accumulated, or you may

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Speaker 1: have a lot of sickly accumulated, or you already may

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Speaker 1: have income protection. Of course that can come off that

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Speaker 1: top line figure, but make sure you actually stop and

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Speaker 1: think about these numbers in a mindful way and really

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Speaker 1: think about what makes you feel safe and secure. Now,

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Speaker 1: this emergency money should sit in a separate savings account,

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Speaker 1: away from your normal everyday spending account, so there's no

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Speaker 1: temptation to dip into it. If you have a mortgage,

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Speaker 1: you could consider using an offset account or redraw facility

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Speaker 1: so that at least it's helping you save obviously time

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Speaker 1: and interest. But promise me you won't ever touch it

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Speaker 1: unless you really do need it, and even if you

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Speaker 1: do have to touch it for a short period of time,

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Speaker 1: make sure you top it up as quickly as you

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Speaker 1: possibly can. This money, this emergency money, is one of

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Speaker 1: the most empowering things you can do for your future self,

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Speaker 1: and it creates an incredible sense of peace of mind

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Speaker 1: that is going to also protect your mental load when

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Speaker 1: you know that the risk of being injured or burnout

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Speaker 1: or just physically not being able to keep up anymore

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Speaker 1: is real. The next thing I want to talk to

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Speaker 1: you about is diversifying your skills, thinking about an exit ramp,

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Speaker 1: you could call it.

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Speaker 2: Now.

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Speaker 1: A lot of people call this upskilling or diversifying your

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Speaker 1: skill set.

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Speaker 2: And I'm not talking.

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Speaker 1: About this to make you pressure on your life and

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Speaker 1: your question your career path. But I want you to

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Speaker 1: make sure that you always feel safe and secure. But

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Speaker 1: you also know that you're actually flexible and that you

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Speaker 1: can pivot fluidly if your job becomes physically unsustainable. So

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Speaker 1: I would recommend you start thinking about this, and you

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Speaker 1: might like to ask yourself this one question. If I

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Speaker 1: couldn't do this job tomorrow, what else could I do?

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Speaker 1: Or even better, what else would I.

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Speaker 2: Like to do?

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Speaker 1: Start thinking about this, write them down, start having commis

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Speaker 1: with friends, with family members. Could you perhaps transition to

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Speaker 1: something less physical, maybe working part time as a site

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Speaker 1: coordinator or a supervisor, or become a teacher or a

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Speaker 1: consultant or an advisor, Or could you maybe pivot or

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Speaker 1: diversify into maybe recruitment for that particular industry. Could you

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Speaker 1: move into admin or scheduling, or maybe safety compliance or

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Speaker 1: some form of training role in your industry, or perhaps

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Speaker 1: you just want to get out of the industry completely,

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Speaker 1: or maybe even a different location like an.

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Speaker 2: Office or a classroom.

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Speaker 1: Perhaps you can keep working the same job, but you

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Speaker 1: maybe need less hours so you give your body more

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Speaker 1: time to actually rest and recharge. Or perhaps you need

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Speaker 1: to just change the hours with your existing job further

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Speaker 1: down the track as your body wears out, maybe the

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Speaker 1: early morning starts a no longer right for you, or

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Speaker 1: perhaps you actually need to finish up earlier in the day.

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Speaker 1: Think about your career matter, how you can pivot, and

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Speaker 1: how you can also do this in a very flexible

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Speaker 1: manner so that you're never left shocked or bewildered by

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Speaker 1: a sudden change. Perhaps you may think about pivoting completely

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Speaker 1: as you think your body might wear out. You know,

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Speaker 1: what communication skills do you have that you can build upon?

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Speaker 1: Do you have leadership skills, logistics skills, or maybe even

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Speaker 1: a bit of a tech insight that could be a

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Speaker 1: value to other industries. Even just spending like one hour

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Speaker 1: a week learning something new, doing it like an online

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Speaker 1: course or a workshop, or even simply shadowing someone can

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Speaker 1: really pay dividends down the track, and in fact, you

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Speaker 1: actually never know where this may take you, and it

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Speaker 1: actually could be the start of an amazing new, exciting

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Speaker 1: career and perhaps even start this amazing new career path

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Speaker 1: a lot earlier than you actually realize, because perhaps you

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Speaker 1: discover something. You know what, I don't need to wait

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Speaker 1: until my body falls apart. Why didn't I get out

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Speaker 1: now before my body does fall apart? You see, it's

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Speaker 1: really about investing in yourself now by exploring you know,

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Speaker 1: your future career options that are going to give you

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Speaker 1: far greater flexibility today or even later in life and

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Speaker 1: at the end of the that's what real financial independence

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Speaker 1: is about. Choices and options, not just numbers in your

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Speaker 1: bank account or in better in your share portfolio. Next,

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Speaker 1: I want to talk about insurances, and of course this

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Speaker 1: is a real practical safety net, and I feel like

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Speaker 1: I don't talk about insurances enough, but we're going to

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Speaker 1: do it this right now. So I'm not talking general

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Speaker 1: insurances like car insurance and home and contents insurance. I'm

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Speaker 1: talking about personal insurance. They're not sexy, but they are

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Speaker 1: most definitely life saving. The sooner you can take them

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Speaker 1: out the better because you don't know on the risk

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Speaker 1: of loadings and exclusions when your health situation has changed

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Speaker 1: or you've had to say, an injury. Now, if you're

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Speaker 1: in a physically demanding job or you're self employed like myself,

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Speaker 1: you're going to need to be across three types of

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Speaker 1: cover as an absolute minimum. Obviously, there is life cover,

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Speaker 1: but I don't want to necessarily talk about this in

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Speaker 1: this particular episode right now. So the first one that

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Speaker 1: you need to know about, and I think this is

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Speaker 1: one of the most important insurance. Everybody should have this

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Speaker 1: as a non negotiable. In fact, I wish the government

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Speaker 1: made this compulsory. But Income Protection pays you a monthly

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Speaker 1: benefit which is typically around seventy five percent of your

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Speaker 1: income if you are unable to work due to an

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Speaker 1: illness or an injury, and that illness of injury doesn't

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Speaker 1: necessarily need to be linked to the workplace.

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Speaker 2: This is separate to work cover.

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Speaker 1: So say, for example, you're on the weekend and you

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Speaker 1: know your back, which is already saw from working long

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Speaker 1: shifts or being on your feet, you slip somewhere, or

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Speaker 1: you fall, or something happens while you're at home, and

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Speaker 1: you say your back completely goes or you need some

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Speaker 1: sort of surgery to recover, and you simply cannot wait

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Speaker 1: to take six months off work.

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Speaker 2: You can't.

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Speaker 1: It's not physically possible because you need to keep the

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Speaker 1: bills paid, food on the table, and so forth. Now,

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Speaker 1: this is where income protection comes in and kicks in,

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Speaker 1: and it would pay you after a waiting period, of course,

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Speaker 1: which is either you know, thirty sixty ninety one hundred

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Speaker 1: and eighty days, whatever it may be in your policy,

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Speaker 1: But that policy would kick in and pay you up

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Speaker 1: to seventy five percent of your income until you could

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Speaker 1: go back to work, which would allow you to have

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Speaker 1: that surgery, or to take that time off to allow

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Speaker 1: your body to rest and recover, to go to those

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Speaker 1: physio appointments or see that specialist, so that you can

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Speaker 1: get back into the workforce at at an appropriate speed

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Speaker 1: without feeling stress and pressure of the bills piling up.

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Speaker 1: Of course, it goes without saying always obviously get advice,

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Speaker 1: particularly if you're on a type budget, because this can

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Speaker 1: be owned and paid for in different ways to help

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Speaker 1: you so that you at least have something in force

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Speaker 1: rather than nothing at all. But as I've said, this

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Speaker 1: isn't absolute, non negotiable. Everyone should have income protection. The

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Speaker 1: next insurance someone talks to you about, and it's the second

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Speaker 1: most important insurance, and that is trauma insurance, also known

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Speaker 1: as critical illness. Now, this policy pays a lump sum

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Speaker 1: if you're diagnosed with a major illness like a cancer

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Speaker 1: or stroke, or you suffer a heart attack. This isn't

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Speaker 1: so much about replacing your income. It's paid out as

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Speaker 1: a lump sum, typically tax free, and it's designed to

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Speaker 1: take away the financial stress out of recovery and rehabilitation.

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Speaker 1: I know people personally who have cancer and they're doing

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Speaker 1: treatment and they're paying for that treatment, but they actually

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Speaker 1: don't want to take time off away from work because

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Speaker 1: it's a great distraction for them and they're trying to

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Speaker 1: just keep a normal routine. Trauma cover pays out that

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Speaker 1: lump sum, so it could help pay off the mortgage,

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Speaker 1: or help pay for all those bills, or allow you

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Speaker 1: to stay cut down to say part time work as

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Speaker 1: you're going through treatment. Yes, I have this cover. I

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Speaker 1: think I have about close to six hundred thousand dollars

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Speaker 1: with a trauma cover. Not advice, but to show you

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Speaker 1: how serious I am about this I follow my own advice,

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Speaker 1: so it's worth looking into trauma cover as a second

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Speaker 1: insurance policy. Then of course there's TPD total and permanent disablement.

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Speaker 1: This pays out again a lump su if you can't

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Speaker 1: work again in your particular occupation due to a permanent condition.

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Speaker 1: Now there are different types of definitions. You've got to

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Speaker 1: go and get advice, whether it's own occupation or any occupation.

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Speaker 1: So this is really important because it could be the

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Speaker 1: result of you getting a payout or actually being declined.

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Speaker 1: And again this is designed to help payoff debt, medical

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Speaker 1: expenses and obviously fund your lifestyle. And yes it can

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Speaker 1: be at times structured through superannuation, but you have to

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Speaker 1: get advice because you want to make sure that that

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Speaker 1: payment if it is paid out and you make a claim,

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Speaker 1: that you can actually access it and it's not stuck

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Speaker 1: within Super. Now, many Australians have some form of insurance

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Speaker 1: that is personal insurance already inside their super, so it's

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Speaker 1: always worth checking. But quite often the insurance that they have,

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Speaker 1: if they have it at all, isn't nearly enough and

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Speaker 1: it is definitely not tailored to what they actually need.

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Speaker 1: So I can't stress this enough speak to a financial

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Speaker 1: planner and get them to review what you already have

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Speaker 1: in place and help work out what's missing so you

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Speaker 1: can figure out how to bridge that gap or plug

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Speaker 1: a hole in that potential risk bucket for you, and

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Speaker 1: a financial planner is going to know exactly which insurance

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Speaker 1: companies are actually best to work with for your particular

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Speaker 1: type of manual work. Yes, in the past, insurance companies

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Speaker 1: used to be really strict with certain people in certain

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Speaker 1: no physically demanding jobs. Some of them would even be

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Speaker 1: an automatic decline they could even apply for cover in

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Speaker 1: the first place. But insurance companies have really evolved since

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Speaker 1: those times and are very different. In fact, my partner Tom,

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Speaker 1: he's an equine physio, so he is around horses all day.

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Speaker 1: You know, his job is incredibly physically demanding and there

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Speaker 1: is obviously the risk that a horse, which can weigh

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Speaker 1: up to five hundred kilos could land on him and

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Speaker 1: injure him or something even more serious. Now, an insurance

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Speaker 1: company looked at his application, They had a phone call

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Speaker 1: with him to understand his job, ask all the right questions,

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Speaker 1: and they actually insured him. And it was I think

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Speaker 1: he was one of a very few equine physios that

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Speaker 1: was actually insured and that was probably I think five

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Speaker 1: or six years or six years ago actually, all right.

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Speaker 1: The next thing is is probably the biggest one, which

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Speaker 1: is applicable to everyone actually, even regardless of whether you

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Speaker 1: have a physical demanding job or not, and that is

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Speaker 1: to invest whilst you can build that passive income. So

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Speaker 1: as you know, passive income is the ultimate form of

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Speaker 1: financial protection. When you've got a passive income coming in

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Speaker 1: to you through inves, it can cover your living expenses

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Speaker 1: or at least help cover your living expenses. And when

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Speaker 1: you have enough passive income that more than covers your

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Speaker 1: living expenses, there is less of a need for insurances

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Speaker 1: and emergency money because you've always got that passive income

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Speaker 1: covering your living expenses.

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Speaker 2: Regardless or not.

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Speaker 1: It doesn't mean that emergency money or personal insurances aren't

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Speaker 1: needed at all, but there's maybe less of a need,

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Speaker 1: or perhaps you don't need as much cover or you

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Speaker 1: can look at saving some money there. So this is

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Speaker 1: the power of passive income in that complete holistic financial

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Speaker 1: protection and freedom. So if you can start putting your

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Speaker 1: money to work for you so that your body doesn't

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Speaker 1: always have to rely on earning money, you are going

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Speaker 1: to be in such a stronger position, and the sooner

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Speaker 1: you start investing, the more time you're going to give

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Speaker 1: your investments to grow and actually realistically give that passive

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Speaker 1: income a chance to actually compound and grow over time.

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Speaker 1: So here's what I actually recommend to everyone, especially though

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Speaker 1: if you're in a physically demanding job, understand that your

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Speaker 1: body earns now, your money earns later. If you cannot

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Speaker 1: invest on a consistent basis, even small amounts, you are

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Speaker 1: seriously setting yourself up for the option to be able

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Speaker 1: to further down the track when appropriate, reduce those hours,

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Speaker 1: change careers, or perhaps, if you're really passionate and dedicated

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Speaker 1: and patient, retire.

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Speaker 2: On your own terms.

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Speaker 1: Now, obviously this is not product advice or investment advice,

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Speaker 1: but shares and property are my two favorite ways to

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Speaker 1: build wealth and of course that passive income, and I

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Speaker 1: love dividend paying shares, and I love the long term

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Speaker 1: capital growth that comes from investments such as ETFs or

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Speaker 1: in particular listed investment companies. But think about building a

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Speaker 1: positively geared investment portfolio where your income, whether it be

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Speaker 1: dividends or rent or even interest off a savings account,

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Speaker 1: can help contribute or even cover your living expenses over time. Now,

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Speaker 1: this is what's going to help you build a growth

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Speaker 1: doing reliable income stream that isn't actually dependent on your

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Speaker 1: physical health and wellbeing. Imagine if you had five hundred

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Speaker 1: dollars a month coming in from, say your investment portfolio

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Speaker 1: that could help cover the bills if you're unable to work.

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Speaker 1: Perhaps that means you can work one less day, or

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Speaker 1: perhaps you can work half a day instead of a

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Speaker 1: whole day, Or perhaps it means you can actually say

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Speaker 1: no to those physically straining jobs that are really taxing

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Speaker 1: on your body. Or perhaps it's that five hundred dollars

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Speaker 1: a month that your investment portfolio pays you can actually

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Speaker 1: help bridge an earlier retirement or even a career change.

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Speaker 1: You don't need large amounts of money to get started,

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Speaker 1: You just simply need to get started. Even fifty dollars

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Speaker 1: a week into say a diversified investment like a listed

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Speaker 1: investment company or an ETF can seriously add up to

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Speaker 1: tens of thousands of dollars over time, particularly if you

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Speaker 1: can automatically reinvest all of your dividends back into.

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Speaker 2: Your investment portfolio.

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Speaker 1: And of course, there are lots of different things you

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Speaker 1: can do to really help drive your portfolio in a

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Speaker 1: very efficient way, which is why should go on to

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Speaker 1: all my other podcast episodes. And of course, whilst you're

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Speaker 1: working and you get pay rises or bonuses or tax

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Speaker 1: refunds or any other financial windfall if you can, if

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Speaker 1: you can afford to, why don't you think about putting

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Speaker 1: it back into that investment portfolio.

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Speaker 2: So you're creating even a.

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Speaker 1: Greater sense of financial protection in your life and prioritizing

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Speaker 1: your body and the reality that our bodies can't always

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Speaker 1: keep going at this pace. So trust me on this

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Speaker 1: investing is essential. Your future self will most definitely thank you.

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Speaker 1: And of course always track your passive income and get

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Speaker 1: excited as you watch it grow. It really boils down

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Speaker 1: to you getting started today.

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Speaker 2: All right.

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Speaker 1: The next part I want to talk to you about

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Speaker 1: is alternative options if you can't actually keep working. So

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Speaker 1: if you are finding that you are already struggling and

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Speaker 1: you can't actually keep.

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Speaker 2: Working anymore, but you're not.

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Speaker 1: Sixty seven, and you've kind of maybe missed that boat

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Speaker 1: of investing bilding up emergency money because reality is only

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Speaker 1: sort of hitting you now, there are definitely a few

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Speaker 1: different options that you can explore. So of course you

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Speaker 1: could look at early access to your superannuation, and this

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Speaker 1: might be through compassionate grounds, financial hardship, or if you've

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Speaker 1: been able to meet a definition of permanent incapacity, which

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Speaker 1: needs two independent doctors to actually write you a medical

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Speaker 1: certificate for But I will say this, if early access

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Speaker 1: to super is something that you're looking at, please know

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Speaker 1: that it is complex, it is lengthy, and it is

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Speaker 1: very limited. You may have three million dollars, for example,

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Speaker 1: in superannuation and you think I'll just get all that

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Speaker 1: money out under early access. That's not necessarily a case.

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Speaker 1: You may get a fraction of that even if that

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Speaker 1: if you're lucky. But you also need to keep in

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Speaker 1: mind if you are going to rely on you're super

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00:20:44,200 --> 00:20:47,960
Speaker 1: under early access to a certain degree, you're actually robbing

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Speaker 1: your future self of your financial well being because you're

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Speaker 1: taking money out of something that's supposed to be growing

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Speaker 1: for you to support you well into your sixties, seventies, eighties,

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Speaker 1: nineties and beyond. Act with a very conservative strategy, and obviously,

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Speaker 1: of course get advice if you're going down that path.

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Speaker 1: The other option, obviously is look into income protection and

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Speaker 1: TPD claims. You should check to see if you have

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Speaker 1: any superannuation accounts that you're not aware of, perhaps you know,

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Speaker 1: jumping on the government website and having a search, because

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Speaker 1: then you never know, there may actually be an income

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Speaker 1: protection policy attached to one of your old superinnuation accounts

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Speaker 1: that you're not aware of, and of course check the

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Speaker 1: TPD cover as well. You may actually be ensured and

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Speaker 1: you may be entitled to that money. And then of

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Speaker 1: course there's things like downsizing your home. If you are

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Speaker 1: fortunate enough to own a home, you may be in

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Speaker 1: a position where it's time to consider downsizing so that

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Speaker 1: you're a mortgage free or you have a much smaller

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Speaker 1: mortgage and you don't need to earn as much money

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Speaker 1: to service that mortgage and of course pay it off

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Speaker 1: over time. Another option for some people who can't downsize

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Speaker 1: but then for example, paid their mortgage off and they

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Speaker 1: may want to look at getting advice around a reverse mortgage.

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Speaker 1: And that's obviously for people who are over the age

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Speaker 1: of sixty and of course have plenty of home equity.

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Speaker 1: And another option might be something like a transition to

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Speaker 1: retirement strategy where once you reach a preservation age which

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Speaker 1: is normally around age sixty for most of us, you

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Speaker 1: might be able to reduce your working hours and actually

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Speaker 1: draw some of your superannuation through an allocated pension. Now,

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Speaker 1: of course, there are a lot of fine details around

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Speaker 1: each of these different ideas and strategies, which is why

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Speaker 1: it's so important, but you go and speak to a

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Speaker 1: financial planner before you make any major decisions or make

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Speaker 1: any big moves with your money. Now, as I wrap

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Speaker 1: up today's episode, I want to remind you that this

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Speaker 1: is not about panicking. It's about being proactive and creating

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Speaker 1: a sense of protection for yourself and for your loved ones.

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Speaker 1: I don't want to scare you. I want to empower you,

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Speaker 1: whether you realize it or not. Your body is your

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Speaker 1: greatest tool, whether you're using your legs, your arms, your back,

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Speaker 1: or even your brain. So when it comes to your

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Speaker 1: income source, we've got to make sure that we look

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Speaker 1: after it if it's paying those bills. Plan now is

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Speaker 1: not about negative thinking or manifesting something disastrous. It's about

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Speaker 1: being real. It's about being respectful. It's about being wise

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Speaker 1: and sensible and financially intelligent, and of course coming from

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Speaker 1: a place of self love and compassion. If you're thirty

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Speaker 1: five years old, earning say one hundred thousand dollars a year,

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Speaker 1: and you plan on retiring at age say sixty five,

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Speaker 1: you've got thirty years of work ahead of you. That's

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Speaker 1: over three million dollars that you're going to be earning

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Speaker 1: over the next thirty years, and that's assuming no pay rises.

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Speaker 2: At all, So it's probably going to be in.

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Speaker 1: Excess of three million dollars. So if you or someone

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Speaker 1: you know is in a physically demanding job, can I

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Speaker 1: please encourage you to start an emergency fund, Go and

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Speaker 1: get some advice on personal insurance, look at diversifying your

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Speaker 1: skills and contemplating what other career paths you would like

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Speaker 1: to adventure down, and of course start investing, start building

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Speaker 1: that path income stream. As I said, that extra five

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Speaker 1: hundred dollars a month can make a big difference between

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Speaker 1: barely hanging in there and actually being in control with

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Speaker 1: your head above water. And of course, most importantly, advocate yourself,

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Speaker 1: ask the questions, and take action today. You deserve financial freedom,

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Speaker 1: I'm really serious about that, and not just one day someday,

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Speaker 1: but right now today, and you deserve to have that

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Speaker 1: peace of mind and a practical plan in.

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Speaker 2: Place for yourself.

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Speaker 1: Now, if you found this episode helpful, can you do

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Speaker 1: me a huge favor please? Can you send it to

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Speaker 1: your friends, your family members, co workers, who anyone you

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Speaker 1: know that needs to hear this.

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Speaker 2: And when I say physically demanding, I also want to.

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Speaker 1: Make sure that we include the people who do mentally

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Speaker 1: exhausting work as well as the physical work. So we're

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Speaker 1: all going to look out for each other, give each

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Speaker 1: other this insight, this advice, these words of wisdom so

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Speaker 1: that we become more financially resilient or have anyone Thank

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Speaker 1: you so much for listening to today's episode.

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Speaker 2: On Sugar Number's Fireplay.

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Speaker 1: Until next time, keep that financial fire burn bright