Aussie Firebug

My guest today is Scott Phillips - a Sydney based investor with over 20 years experience. Scott holds a Bachelor of Commerce and a Graduate Diploma of Accounting but is most famous for his role as Chief Investment Officer of The Motley Fool Australia. This is a monster episode where we dive deep into many different areas of investing.Some of the topics we cover are:Where does it all begin with Scott Phillips and finance? (00:05:10)How and when did Scott start investing? (00:14:31)What does Scott invest in these days and what is his investing style/philosophy? (00:16:30)Is there a significant difference between getting income from dividends or selling down shares? (00:26:48)How do you identify a good company and what methods do you use? (00:31:43)Structuring investments for children. (00:35:57)Was financial independence ever a goal for Scott? (00:38:51)What does Scott make of this low-interest-rate world we are currently living in? (00:51:02)Does Scott think Australia is in a housing bubble? (00:54:20)What are

I’m kicking off the new year with a little refresher and a summary of a new article called “10 Lessons I've Learned from 10 Years Pursuing Financial Independence”. Check it out!1. The ultimate goal is to be happy. Never lose sight of this (03:50)2. Find your why of FI (07:18)3. Master behaviours, not spreadsheets (08:43)4. Getting wealthy is simple. Don’t overthink it (14:38)5. What’s measured is managed (19:07)6. Income potential is often overlooked (23:43)7. Compound interest takes years to notice (30:26)8. Most people are really after semi-retirement (35:58)9. Find your ‘enough’ (41:59)10. We’re all dealt a different hand in the game of life (47:02)www.aussiefirebug.com

Have you ever wondered how far your donations to charities really go? I know it feels good to donate and we should all consider giving away part of our wealth considering we Aussies are some of the wealthiest people on the planet, but I’m not sure many of us really go over with a fine-tooth and comb how the money is spent and how many people are affected with every dollar.Today I’m speaking with Luke Freeman, a former tech and marketing professional who had a desire to positively affect the lives of the less fortunate in the world. Luke is the Chairperson and a Board Member of Effective Altruism Australia and Executive Director of Giving What We Can, which are both charitable organisations designed to help the less fortunate.The attributes of effective altruism share a lot of similarities with the FIRE movement. It’s all about using evidence and reason to figure out how to benefit others as much as possible, and taking action on that basis. Some of the topics we discuss in this episode:Who is Luke Freeman and

Today I’m speaking with Julia Druery, a mum of two, living on the Gold Coast who was studying to become a financial advisor before a tragic event hit her family back in 2016. Julia’s husband Kent suffered from an acquired brain injury which left him with several permanent disabilities and no longer able to work. Thankfully Kent had various insurances in place before the injury which helped to relieve the financial pressure of this life changing event.Some of the topics we cover are:Julia shares the story of her husband Kent’s acquired brain injury. (08:54)What was the process of claiming insurance payments after the injury occurred? (12:03)What is trauma insurance and is it included in default super cover? (17:25)Why is lifestyle an important consideration when making insurance decisions? (27:16)How much does all this cover cost and is it really worth it? (30:32)How has Julia & Kent's insurance cover impacted their lifestyle today? (35:01)Julia’s personal experience with debt recycling. (48:18)LinksW

My guest today is fellow Aussie, Vijay Boyapati who is an Ex-Google engineer and the author of The Bullish Case for Bitcoin. Vijay’s book has been translated into over twenty different languages and is said to be one of the most read pieces of literature on Bitcoin. This is a monster episode and we go deep into so much more than just Bitcoin and the Blockchain.Some of the topics we get into include:Who is Vijay and what led him to start working for Google? (04:28)Vijay shares why he identifies as a Libertarian and what he learned from working in Silicon Valley. (08:13)Why Vijay left his job at Google in 2007 to work on the Ron Paul US presidential campaign. (11:46)What exactly is Bitcoin and the Blockchain? (15:06)Why is Bitcoin important and what problem does it solve for the average person? (31:51)Gold v Bitcoin (45:27)Will Bitcoin be used as money anytime soon? (01:02:22)FIRE community Q&A (01:17:57)LinksArticle - The Bullish Case for BitcoinBook - The Bullish Case for Bitcoinwww.aussiefirebug.com/podc

Today I’m speaking with Chi Lam, an ex team-lead in the medical devices industry who lives in Sydney with his wife and 2 daughters. Chi was recently featured in an ABC Everyday article where he shared his story about how he quit his full-time job in his mid-thirties and redesigned his life so he could spend more time with his family.Some of the topics in today’s episode include:Who is Chi and when did he start thinking about financial independence? (06:37)Chi shares the traumatic story of how he and his family came to Australia from Vietnam. (07:51)What Chi learned about money and life from his experiences as a child refugee. (13:19)When, how and why Chi got started investing in property. (16:18)Chi talks about the day he quit his job and what made him take that leap of faith. (28:45)How Chi’s side hustle/passion project has grown into a full-time business on his own terms. (36:02)LinksArticle - ABC Everyday - Chi Lamwww.aussiefirebug.com/podcast

It’s my absolute pleasure to welcome Ruth onto the show today. Ruth lives in New Zealand and is better known online as The Happy Saver. She has a very popular podcast and blog where she writes about managing money, living the good life and not working too hard.Some of the topics in today’s episode include:Who is Ruth and why did she create The Happy Saver blog and podcast? (04:49)Ruth shares her personal money story and how she became interested in investing. (10:10)The important life lessons Ruth learnt from losing her family home in an Earthquake. (16:11)Property investing - the significant differences between NZ & AUS tax laws. (19:28)The major advantage of investing in the share market in NZ. (24:40)Advantages of living in the country over the city. (29:48)What does Ruth actually invest in? (35:43)LinksBlog - The Happy SaverPodcast - The Happy Saverwww.aussiefirebug.com/podcast

Today I’m speaking with Terry Waugh who you may know as Terryw from his online legal and tax tips. Terry is admitted as both a solicitor and barrister to the Supreme Court of NSW as well as the High Court of Australia and holds specialist qualifications as a Chartered Tax Adviser. He operates as a lawyer specialising in tax, estate planning, asset protection, and trusts for property and share investors.Some of the topics in today’s episode include:What structuring options do investors have when owning or controlling assets - specifically property and shares? (05:22)Land tax - when is it relevant to property investors? (08:34)Do many people invest through a company and what are the benefits of doing so? (10:43)What trust structures work best for property and share investors? (13:40)What is a trust, how do they work and how do investors benefit from trust structures? (15:44)What are discretionary trusts and why are they so commonly used? (19:05)What are the main pros and cons of using a trust structure and when

Today I’m speaking with Paul Benson from the Financial Autonomy podcast. Paul is a tertiary-educated financial planner with over 20 years of experience. We talk about the role of a financial planner and Paul gives us some real-life examples of how financial planners are able to assist us with our FIRE journeys.Some of the topics in today’s episode include:What exactly is a financial planner?Why do financial planners have a bad rep in the FIRE community?How much does a financial planner actually cost and what should you expect for that fee?How do financial planners get paid and how do you tell a good financial planner from a bad one?If someone already has a dialled-in FIRE plan, where is the value in paying a financial planner?How to find a good financial planner. Is there a financial planner directory in Australia?What questions should you ask and what to avoid when choosing a financial planner?LinksFinancial Autonomy websiteFinancial Autonomy podcastASIC Financial Advisers RegisterFinancial Planning Associat

Today, I’m excited to have Bryce & Alec from the extremely popular Equity Mates podcast on the show. We chat about how Equity Mates was founded, Bryce and Alec's journey as investors and there’s even some footy talk as well.Some of the topics in today’s episode include:How long have Bryce & Alec been friends and what’s the story behind the Equity Mates Podcast?Bryce & Alec talk about how they were brought up and how each of them learnt about money and investing.How Alec lost all his money in his first investment on the stock market.What has changed since Bryce started his investing journey?The Equity Mates investing goals, philosophies and strategies. What do Bryce & Alec actually invest in?The advantages that retail investors have over fund managers.Does Bryce really hate the FIRE movement?LinksEquityMates websiteGet Started Investing podcastEquityMates Investing podcastGet Started Investing bookwww.aussiefirebug.com/podcast

My guest on the show today is Finn Peacock from SolarQuotes.com.au. Finn is an electrical engineer with a passion for renewable energy that led him to create a business dedicated to helping people bring solar energy into their homes. Finn started the SolarQuotes company in 2009 and is an expert on retail domestic solar systems and renewable energy.Some of the topics in today’s episode include:Finn’s backstory and how he ended up getting involved with solar energy.What to think about if you’re considering buying a solar system for your home.How does a solar system actually save you money?How to decide what size solar system is right for your home and how to calculate the payback period.Common mistakes people make when choosing a solar system.Where does Finn see the future of sustainable energy heading?LinksSolarQuotesSolarQuotes ToolsSolarReviewsSolar AnalyticsTony Sebawww.aussiefirebug.com/podcast

Today I’m joined by Owen Raszkiewicz from the Australian Finance Podcast and the Australian Investors Podcast. Owen is the founder of Rask which is a financial and investment education company based in Melbourne. Prior to founding Rask, Owen was an investment analyst at the managed funds research business Zenith Investment Partners and a Writer/Analyst for The Motley Fool Australia. We touch on a lot of interesting topics in this pod but one area that I was really keen to pick his brain on is active investing. Owen has a breadth of knowledge in this area that far exceeds my own and I think it’s good to hear another point of view from an expert.Some of the topics in today’s episode include:Owen shares his personal story of growing up and his relationship with money.The light bulb moment when Owen understood a common pathway to financial success.Owen’s investing philosophy, principles and personal financial goals.What is value investing and how does it work?Can an active investor actually beat the market over a

Today I’m chatting with Tina from moneyflamingo.com which is an Aussie FIRE blog that focuses on a very cool concept called Flamingo FI. Tina shares her incredible journey of how she and her partner went from being broke and clueless in their early 30s to happy semi-retirees just 5 years later. I’m sure the concept and strategy of Flamingo FI will be very interesting, applicable and relatable to a lot of people out there listening.Some of the topics in today’s episode include:Where the name Money Flamingo came from. What is Flamingo FI and when did Tina come up with this concept?The shock of starting her first job and the reality of a lifetime of working full-time as a lifestyle. When Tina realised that she no longer had control of her time she went searching for an alternative to the standard path.When did Tina first discover the concept of financial independence and FIRE? How she almost gave up before she began and did nothing about it for 3 years.What really matters on the path to financial independence? I

Today I’m interviewing Ben, a 34-year-old husband & father hailing from South Australia who is well on his way to reaching financial independence.Ben reached out to me via my website and offered to share his personal experience with the NAB Equity Builder. This is a really popular financial product that often appears on financial forums so I thought it was a great opportunity to find out what it’s really like. We take a deep dive into the pros & cons of the NAB Equity Builder and how Ben and his wife are using it as a significant part of their journey to FIRE.Some of the topics in today’s episode include:Ben’s backstory and why he chose to invest in shares using the NAB Equity Builder.What is the NAB Equity Builder and how does it work?Margin calls, LVR and what makes the NAB EB different from other margin loans.The NAB EB interest rate, fees and application process. Who actually owns the shares?How much Ben borrowed to get started and what he used as collateral.What extra gains has Ben made using the

Today I’m joined by Ben, a sustainable living enthusiast from South Australia who lives completely off-grid with his wife and children.Ben's a member of the Aussie FIRE Discussion Facebook Group who posted about his self-sufficient home last year which really struck a chord with the community (it's still one of the most popular submissions to date). Ben has been kind enough to share his story of building an off-grid house and living sustainably in South Australia.Some of the topics in today’s episode include:How Ben and his wife designed and built a completely off-grid home.Their journey towards the dream of sustainable living.The primary driver of going off-grid and building this house.Utilising a solar energy system to completely power a family home.How much does it really cost and how long will it last?How to deal with heating and cooling when you’re not connected to the grid.Running water and the challenge of sustainable water usage when rain is your only supply.How to create a domestic system t

Today it’s my pleasure to welcome Kurt to the show. Kurt is the co-founder of the online brokerage company Pearler. We talk about Kurt's relationship with money, how and why Pearler was started and what it takes to get a fintech startup off the ground.Some of the topics in today’s episode include:Kurt’s upbringing in an entrepreneurial family. His relationship with money/investing and his personal investing goal & strategy.The inspiration behind the creation of Pearler.The psychology of money & investing. Meaningful work and the ultimate benefits of financial independence.What sets Pearler apart from the pack.What’s involved in starting and building a company like Pearler?Where does the money come from?Angel investing, founder accelerator programs & building out a fintech team.LinksPearlerBook - The Barefoot InvestorBook - The Psychology of MoneyAngelListwww.aussiefirebug.com/podcast

Today I’m chatting with Katy Winter who may be the very first Aussie FIRE blogger ever! Katy has an inspiring story of overcoming disadvantages and adversity to pursue financial independence as a parent in a household of 5 kids.Some of the topics in today’s episode include:Katy’s backstory and how the Wealthy Winters FIRE blog came about way back in 2014.Katy’s experience of suddenly losing her mum when she was 8 months pregnant with her second daughter.An unexpected inheritance and what she did with the money.Katy’s journey from Minimalism to Barefoot Investor to FIRE and what really matters in life.Parenthood - Katy shares tips for those who are thinking about having kids while pursuing financial independence.How Katy got started with investing and what she bought first.LinksBlog archive - Wealthy WintersFacebook group - Financial Independence & Early Retirement AustraliaBook - Early Retirement Extreme - Jacob Lund FiskerAussie HIFIRE - FIRE and Kids - The cost of raising children in AustraliaBook - The

Today I’m speaking with Glen James, a multi-award-winning financial advisor who is the creator and host of the very popular podcast, My Millennial Money. Glen’s a self-proclaimed ‘spender’ but was able to develop a process and system to manage his own money at an early age that ultimately lead him to financial success. He then went into helping others achieve their financial goals starting and selling multiple businesses along the way. Glen highlights some really interesting points about the FIRE movement as well as the importance of giving back as you build your wealth.Some of the topics in today’s pod include:Glen’s relationship with Money and the systems and processes he has built (00:04:44)Super asset allocations (00:14:01)Glen’s investing philosophy (00:15:40)Why the FIRE movement needs to ditch the RE (00:21:32)Being charitable whilst building wealth (00:32:25)My Millennial Money Podcast (00:39:27)LinksSort Your Money OutGlen with Dave RamseyMy Millennial Moneywww.aussiefirebug.com/podcast

Today I’m chatting to Lacey Filipich, author of 'Money School' which is an Australian book about becoming financially independent reclaiming your life.Lacey resume is very impressive, she's an engineer, author and successful entrepreneur starting multiple companies who reached financial independence in her early 30s.Some of the topics in today's pod include:Lacey’s upbringing and her road to financial independence (0:02:12)Burning out at work (0:10:48)Lacey’s investment strategies and current asset allocations (0:22:40)The Money School Book (0:56:42)How you can use Options with a FIRE strategy (1:05:34)Bank bail in-laws and what it could mean for people holding large amounts of cash (1:14:51)For a full transcription of today's episode plus show notes, please head over to www.aussiefirebug.com/lacey-filipich-money-school/

Today I invited one of my favourite Aussie FIRE bloggers on the pod, and that’s none other than Aussie HIFIRE. HIFIRE works in finance and is looking to create a higher than average income stream to fund his retirement.Some of the topics we cover are:Who is Aussie HIFIRE? (00:04:30)What is HIFIRE and how does it differ from regular FIRE? (00:05:10)What does AHF want to do during retirement? (00:11:53)The role that bonds play in a portfolio (00:18:53)How Aussie HIFIRE approaches FIRE and kids (00:29:42)Income insurance during the accumulation phase (00:44:10)www.aussiefirebug.com/aussie-hifire/