by Adam Preston | Dec 11, 2023 | Podcast
Summary
Today, my guest is none other than my accountant, Clayton!
Clayton and I have talked about doing this podcast for a while. I pay him thousands of dollars each year to help with tax planning, structuring our investments and businesses and other strategic decisions that ultimately help me reach FIRE sooner.
I thought it would be interesting to chat to him about what role an accountant can play when someone is trying to reach FIRE, and explore why certain decisions were recommended for our family in terms of tax advice and planning.
Some of the topics we cover in today’s episode are:
- The difference between an accountant, a tax advisor and a financial planner (00:05:36)
- The role an account can play in someone’s journey to financial independence? (00:09:08)
- Common financial structures for people wanting to improve their situation (00:11:56)
- Some of the advantages of a financial trust structure (00:14:13)
- The difference between tax minimisation and tax evasion (00:16:52)
- How can people get the most out of their accountant? (00:22:30)
- Easy things you can do to help you at tax time (00:26:58)
- How do you find a good accountant who’ll work with you to build wealth? (00:34:33)
- What are the main things to consider when starting a sole trader/freelancer business? (00:36:54)
- How often does the ATO actually audit people? (00:49:10)
Links
by Adam Preston | Jul 27, 2023 | Podcast
Summary
Today my guest is Carl Jensen who is better known in the FIRE community as Mr. 1500.
He’s a family guy living in Colorado with his wife and two young children and managed to retire at the ripe old age of 43.
Some of the topics we cover in today’s episode are:
- The story behind the name “Mr. 1500” (00:02:06)
- Investment philosophy and strategies (00:07:25)
- Carl’s interest in Tesla and EVs in general (00:18:44)
- Balancing frugality and fulfilment on the path to FI (00:23:49)
- The biggest benefits of achieving FI (00:26:31)
- How Carl handled the cultural challenges of pursuing early retirement (00:39:04)
- What Carl wishes he knew when he started his journey to FI (01:09:58)
Links
by Adam Preston | Jun 19, 2023 | Podcast
Summary
Today’s episode is very special to me personally.
I’m speaking with my dad about how he grew up and what money and life lessons he learnt along the way. He’s probably had the biggest impact on how I view the world (along with my mum) and set the foundations early on for me to be in the position I’m in today.
Some of the topics we cover in today’s episode are:
- What life was like growing up in Melbourne with immigrant parents (00:02:16)
- How Tony learned about money management as a child (00:13:08)
- Leaving school at 15 to help contribute to the family farm (00:19:26)
- Life lessons learnt from Tony’s immigrant parents (00:23:29)
- Comparing the housing market in 2023 to the 1970s (00:29:13)
- Learning about property investing (00:35:44)
- Stock market investing (00:48:15)
- Tony’s essential life lessons (00:53:47)
by Adam Preston | Jun 9, 2023 | Podcast
Summary
I’m excited today to be having a conversation with Bryce Holdaway and Ben Kingsley who co-host the very popular podcast called The Property Couch.
Some of the topics we cover in today’s episode are:
- How Ben and Bryce originally made a connection (00:02:00)
- Property investing guidelines and regulations (00:12:37)
- Their investing strategy/philosophy (00:23:25)
- The Australian housing and rental crisis (00:48:56)
- Active property investing vs passive share market investing (00:37:03)
- Are property investors adding to affordability issues or are they being used as political scapegoats? (00:56:45)
- How The Property Couch podcast got started (01:20:33)
Links
by Adam Preston | Mar 31, 2023 | Podcast
Summary
My guest today is Dr Toni Lindsay.
Toni is a clinical psychologist who works primarily with people who are at the end of their life or have a severe illness (usually young people!).
In her own words: “My work has shaped how I think about all this FIRE stuff!”.
Toni is also the author of multiple books but the one which probably has the most application with FIRE would be “The Certainty Myth: How to be resilient when the world keeps changing”.
Some of the topics we cover in today’s episode are:
- What does Toni actually do in the field of clinical psychology? (00:04:02)
- What motivated Toni to write “The Certainty Myth”? (00:15:54)
- How Acceptance and Commitment Therapy (ACT) can help with the journey to FI (20:19:00)
- The relationship between uncertainty and anxiety and how we can better manage this (00:55:54)
- Cognitive flexibility – how flexibility can be an antidote to uncertainty (01:01:43)
- How FIRE plays a role in resiliency (01:10:54)
- How Toni’s experience with mortality has shaped her FIRE journey (01:21:50)
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