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Podcast – Noel Whittaker – Australian Personal Finance Legend

Podcast – Noel Whittaker – Australian Personal Finance Legend


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Summary

Today my guest is a legend in the Australian personal finance space. Noel Whittaker has been educating Aussies in money management and investing for over 50 years. He’s probably most famous for his international bestselling book “Making Money Made Simple” which has sold over a million copies worldwide!

Some of the topics we cover in today’s episode are:

  • Noel’s upbringing and first investments (00:02:19)
  • What made Noel become an author? (00:13:41)
  • Noel’s investment choices and experience (00:18:08)
  • Noel’s thoughts on Australian Superannuation (00:26:50)
  • Annuities in Australia (00:42:46)
  • The big issue with Lenders Mortgage Insurance (00:48:37)
  • What’s happened to the financial planning industry and how would Noel fix it? (00:50:38)

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Podcast – Scott O’Neill – Self-made $300K in passive income by 28. Marketing BS or the real deal?

Podcast – Scott O’Neill – Self-made $300K in passive income by 28. Marketing BS or the real deal?


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Summary

I have an interesting episode for you guys today and I think you’re really going to like it. My guest today is Scott O’Neill. Scott bought his first investment property in 2010 with a $60K deposit after saving for 5 years. Just 8 years later, Scott and his wife had 28 properties generating $300K of profit each year plus around $7Million of equity. And Scott is very adamant that he didn’t receive any financial help, gifts, inheritance, living at home rent-free until his late 20’s etc. He’s self-made and agreed for me to dive deeply into exactly how he managed to do it.

Some of the topics we talk about today are:

  • Scott’s background. What type of socioeconomic situation did he come from? (00:06:24)
  • How did Scott come to be an investor? (00:11:41)
  • The schools Scott attended and what type of career he had once he graduated from uni? (00:14:13)
  • A timeline of Scott and his wife’s salary and savings rate during those 8 years from 2010 to 2018 (00:17:15)
  • How did the banks let him and his wife load up on that much debt? Especially during the APRA crackdown in the early/mid-2010s. (00:42:04)
  • How much of their success does Scott attribute to timing and luck vs skill and hard work? (01:00:26)
  • How much he personally draws from his buyer agency business even after reaching financial independence? (01:13:39)

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Podcast – My Efficient Electric Home (MEEH) with Tim Forcey

Podcast – My Efficient Electric Home (MEEH) with Tim Forcey


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Summary

Today I’m chatting with chemical engineer/home energy advisor Tim Forcey. He’s probably known best in the FIRE community for creating the extremely popular Facebook group, My Efficient Electric Home (MEEH) which currently has over 65,000 members.

One of the most common traits in FIRE community is hyper efficiency of everything we spend money on, so I was very excited personally to have Tim on the show, especially with energy prices creeping higher and higher.

Some of the topics we cover include:

  • What made Tim become a home energy advisor? (00:02:25)
  • What are the low hanging fruits to make our homes more energy efficient? (00:08:42)
  • Is it true that electric air-conditioners are cheaper to run than gas systems for heating your home? (00:11:07)
  • What is the “thermal envelope” and why is it important? (00:25:06)
  • Building regulations in Australia and what Tim would mandate if he were in charge (00:37:46)
  • What are heat pumps, how do they work and why has gas heating been so popular? (00:44:21)
  • Tim’s thoughts on solar energy and home batteries (00:52:12)
  • The story behind “My Efficient Electric Home (MEEH)” Facebook group (01:00:50)

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Podcast – Starting Your Career: Big4 vs Gov with Jeremy

Podcast – Starting Your Career: Big4 vs Gov with Jeremy


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Summary

Today we’re talking about two popular career paths – starting out at one of the big four or going into a government role. The Big Four is the nickname used to refer collectively to the four largest professional services networks in the world. These include Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers (PwC).

Joining me in this discussion is my old schoolmate Jeremy who did a cadetship at Deloitte where he worked for 6 years. Jeremy explains the interview process, culture, work-life balance and salary during his time at one of the big four.

I’m going to be representing starting out in government as I spent the first 8 years of my working life in the public sector.

Some of the topics we cover in today’s episode are:

  • What is the process of landing a job and what were the interviews like? (00:05:18)
  • How does a cadetship actually work? (00:14:51)
  • First year experiences (00:18:44)
  • Salary progression (00:21:36)
  • Big Four workloads and expectations (00:24:25)
  • Government experience, expectations & work culture (00:35:12)
  • The pros and cons of both career paths (00:48:28)
  • Dealing with burnout (00:56:49)
  • Finding meaningful work that brings purpose (01:00:25)

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Podcast – Succession Planning with Terry Waugh

Podcast – Succession Planning with Terry Waugh


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Summary

Today we’re talking about succession planning with the one and only Terry Waugh.

This is a pretty big topic but we’ll be focusing on areas such as:

  • What is succession planning and why should we care? (02:22)
  • What are some of the available options for succession planning? (04:19)
  • Wills (07:06)
  • Testamentary trusts (13:31)
  • Succession planning within companies (20:52)
  • Superannuation – who gets it when you die? (24:15)
  • SMSF – what are the key differences? (28:42)
  • Life insurance inside superannuation (39:30)
  • How to protect your kids in case you die (31:01)
  • How much do these structures cost? (33:27)

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Podcast – How to Vet Financial Advisors with Phil Harvey from PIFA

Podcast – How to Vet Financial Advisors with Phil Harvey from PIFA


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Summary

Have you ever been ripped off by a financial advisor? Today’s podcast is all about identifying the tactics financial advisors use that put their interests ahead of yours. Joining me in this discussion is Phil Harvey. He’s an independent financial advisor and one of the founding members of PIFA which stands for the Profession of Independent Financial Advisers.

Some of the topics we cover are:

  • Who is Phil Harvey? (05:41)
  • Phil’s personal experience with financial advisors in 2010 before the royal commission (08:01)
  • What motivated Phil to help start PIFA? (11:20)
  • What is an independent financial adviser? (13:29)
  • Fee structure differences between independent and non-independent advisors (15:25)
  • What percentage of all financial advisors are independent? (22:09)
  • Red flags when vetting financial advisors (36:15)
  • Phil’s tips on avoiding being ripped off by a financial advisor (55:11)

Links

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