Financial Autonomy

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  Writer David Rae, in a great article in Forbes magazine, identified the disconnect between the early retirement through extreme frugality crowd, and the mainstream of society who want to enjoy life without financial constraints.  He identified 8 levels of financial freedom. A ladder that we progress along to gain more and more choice and freedom. Given this aligns so well with our Financial Autonomy mission, I thought they were worthy of exploration.  

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  The starting point must be clarity around your goals. Most importantly, your goals determine your investment time frame. They also dictate whether your investment should have as a priority growth, or income. If your goal is having the option to retire in 15 years time, then you can invest in assets that experience high levels of volatility. You could also hold assets that are fairly illiquid – that is, not quickly sellable. Some examples. On the volatility side, as I write this piece, the Asian Share index is the best performer over the past 5 years. It is however also more volatile than the developed markets such as the US and Australia. If you wanted maximum returns 5 years ago, you got the best result through buying the Asian share index. But you only enjoyed those gains if you stuck to your investment and rode out the significant ups and downs. Now with a 15 year time frame, you can do that. If your time frame wa

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  Freelancing offers flexibility. It’s a way to fit in the necessity of generating an income, with the other things you want to achieve in life. Recently I heard someone reflect on the standard 9 to 5 working day. It came about in the industrial era to align with day light hours. The factories had little or poor lighting, and so they needed the workers to be there during the hours when the natural light streaming in through the windows was at its best. Given the wonders of electricity mean that most of us are no longer tied to having to work when the sun shines, why persist with this ridged allocation of our daily hours?

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  When it comes to gaining choice, there’s few more powerful enablers than increased skills. Financial Autonomy is about gaining control and choice over your life – not enduring a working life that is unfulfilling. It’s about getting the most out of the one precious life that we are allotted. In this post, we’re going to look how an investment in your education, could help you gain that choice and control.  What brings each of us happiness differs, but what is consistent is that in the modern world, money is a necessity. And whilst in the long term it may be possible to generate the money you need from accumulated wealth – for example dividends and rent from tenants – for most of our adult lives, the money equation will be solved through us doing something that someone else values, and getting paid for it.        

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  For many people, thinking about superannuation is the go-to cure for insomnia. This isn’t all bad, in that so long as your superannuation foundations are set-up right, it is something that needs to be left alone to grow – too much fiddling around can be extremely costly. But ignoring your superannuation savings completely is a mistake. Your superannuation savings are likely to be either your largest or second largest financial assets, depending on house price movements. So let’s take a quick run through the things that are important to know about your super, to ensure this important asset is set to deliver you the best financial outcome possible.

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  Have you ever surfed the internet and seen something like “don’t pay thousands of dollars to a dentist to fix that sore tooth, download my free ebook – do it yourself dentistry, for everything that you need to know”? Or how about “people who tell you you need a qualified electrician to hook up your solar panels are just trying to steal your money. Take my 3 part mini course and do it yourself. I haven’t burnt down my house, and neither will you!” Hopefully not, though on the internet, perhaps I’m being optimistic.

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  In this episode, we explore how you can convert the knowledge you already possess into dollars in your pocket. The experiences and knowledge Ronan shares in this episode: How mastermind group works Taking advantage of your Return of Intellect How to unleash your own Return of Intellect Turning your experiences into profit.

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY As we’ve explored in past episodes, a Side Hustle can be the key that unlocks Financial Autonomy for you. That little side business that brings in some extra cash, turbo charges your learning, and has the potential to enable a total career reinvention. An extra $10k earned through your Side Hustle and paid off your mortgage each year, could see you debt free years earlier than previously thought possible. But how to get started, and I guess how to get started in a way that maximises your likelihood of success? Well, I’ve scoured the internet for various business plan templates, and thought about models I’ve used in the past. My experience is that a 40 page business plan is of no value to anyone, and is definitely not a good use of your Side Hustle creation time. A useful business plan should be on a single page. I’ve created a template specifically for Side Hustles, which I’ll be stepping you through in today’s post.

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  A key change in the working environment that has enabled greater choice, has been the explosion of the freelance economy and the rise of the solopreneur. But for all the positives that this change brings, primarily around flexibility, there is at least one potential downside – loneliness. So in this post, we’re going to explore this issue and consider some ideas you might like to implement to combat the loneliness demon and ensure your freelancing, delivers a holistic, fulfilled life.     

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  A discussion on property is well overdue here at Financial Autonomy. So I've roped in Buyers Advocate Emily Wallace to share with us her expert tips and advice for buying a property in Australia. She's lived in 23 properties in 25 years. Property investment is well and truly in her blood. The experiences and knowledge Emily shares in this episode: -How she became a buyers advocate (and what a buyers advocate does). -Advice on how to purchase your first property. -The sometimes hidden costs of buying a property. -Potential mistakes of people make when buying a property - and how to avoid them.  

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY    According to Forbes magazine “the world has changed dramatically in the past several decades with more and more of a company’s value attached not to factories, machines, or hard assets but rather the companies’ ideas, processes, and designs – their intellectual property.” Intellectual property (IP) can take a range of forms – writing, music, design, inventions, or software are all examples. The digitisation of the world has meant that the ability to convert these IP assets into money has exploded. In this weeks episode, we explore how you could use intellectual property assets to achieve financial independence.

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  My parents, like many of their peers, bought a caravan shortly after retiring. Each winter they escape a cold Melbourne, and head north, to explore the vastness of our nation and enjoy the agreeable climate on offer. They’re onto their second caravan now, and whilst their preference has evolved to staying in the one spot for an extended period rather than travel around, the winter escape remains a permanent fixture in their yearly calendar. This type of retirement, frequently referred to as the Grey Nomad lifestyle, is something of the default for Australians. Our superannuation and age pension system point us towards an income producing life that ends around 65 years of age, give or take a few years, followed by hopefully 20+ years of leisure. And whilst this model brings happiness to many people, here at Financial Autonomy, our mission is to share with you potential alternatives. Surely there’s a way to live a full

 SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY    Debt is like the leg irons worn by convicts – it holds you back from gaining choice in life, from achieving Financial Autonomy. Yet if we aspire to own a home, then in all likelihood we’re going to need to take out a very significant loan – a home loan. So given the conflict between: Our goal here at Financial Autonomy is to help you gain choice in life, and The majority of you will at some point take on a home loan, which potentially limits your choices in life it makes sense to spend some time exploring how you can get this debt off your back as soon as possible. In this post we’ll run through the key strategies you can use to get that mortgage done and dusted.  

It's a scenario many of us face - experiencing professional success in the corporate world, yet finding it's not making you happy in broader life. In this episode, Fraser Cameron shares his journey. How he left the corporate environment and founded a coaching business helping others achieve their potential. Oh, and along the way he moved his family from New Zealand to Southern France. The experiences and knowledge Fraser shares in this episode: -Why he needed to escape corporate life, and his journey to self-employment and taking control of his life. -Superpowers that will unlock your potential for opportunities. -How Fraser's change has improved his relationships with his kids and his wife.   SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY 

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY Job security isn’t what it once was. The trend toward contracting, outsourcing and the gig economy, combined with technological automation and increasingly, artificial intelligence, means the need for us to be emotionally and financially resilient has never been higher. Emotional resiliency isn’t something I’m qualified to speak on, but financial resiliency – financial independence - is of course what we’re all about here at Financial Autonomy. We’re going to look at what financial independence looks like in the modern economy, and consider whether there are any local peculiarities that make financial independence in Australia unique.  

A centrepiece of workforce change over the past 20-30 years has been the rise of the independent contractor – the freelancer. It’s no coincidence that this rise has occurred in parallel to the global expansion and adoption of the internet. The internet has enabled people to work together, and find one another, whether they are in the same city, or the other side of the world.  Creatives such as graphic designers have long been the poster child of this workforce revolution, but scratch the surface and you’ll find an increasing variety of roles being performed within a freelancing framework - from consultant engineers, to article writing, video production and social media marketing.  So could freelancing be your ticket to Financial Autonomy? Let’s find out.    SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY 

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  Joanna Penn’s journey is a fascinating one. From consultant to business owner, to writer and entrepreneur, she's certainly packed plenty into her life. Today she runs a multi six-figure company with multiple streams of income. This one episode you definitely won’t want to miss. The experiences and knowledge Joanna shares in this episode: Her evolution from day job to being self-employed. Recognition of her financial vulnerability when she got laid off from work and all her income streams disappeared. How she took a side-hustle approach to develop her business. The current landscape for self-publishing authors.   Links mentioned in the show The Creative Penn Podcast Twitter: Joanna Penn J.F.Penn (fiction) www.thecreativepenn.com/blueprint  

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  If retirement is a decade or more away, it’s tempting to look at your parents and perhaps grandparents in retirement and figure, well, they seem to be getting along fine, I’ll just have what they’re having. But there’s two key factors that have underpinned your parents retirement, that will look vastly different in your retirement – the Age Pension, and a huge increase in wealth due to rising property prices.    

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  In the last post - How to start an Investment Portfolio - we looked at the steps and mechanics involved in creating your first investment portfolio. So we covered - setting your Objectives, determining how much Risk you will take on, your investment Time Frame, and Opening a share trading account.  This week we'll progress from this set-up phase, to explore how you then build an investment portfolio.  We talk quite a lot about investments here at Financial Autonomy. That’s because our goal is to enable you to have choice in what it is that you do with your life, and if you have an investment pool that generates income, then some and potentially all of your living costs can be meet without you needing to trade your time for money. The freedom this provides is what can then enable you to spend your time writing your novel, learning a language, building a boat, or whatever it is that is your Financial Autonomy goal.   

SUBSCRIBE TO OUR WEEKLY EMAIL “GAINING CHOICE” TO KEEP UP WITH ALL THINGS FINANCIAL AUTONOMY  This is the first of a two-part series. In this post we will explore what are the actual steps and mechanics involved in starting an investment portfolio? In the next post, I’ll explore how you should go about building your portfolio. I’ve been building investment portfolios for clients for 20 odd years now. What I’m going to share with you are the actual steps we use to deliver successful outcomes for our clients.