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Australian Finance Podcast
Financially planning to start a family in Australia [👶🏼 Family Finance]
Nov 27, 2024
Siobhan Ashby, a seasoned financial advisor from Northeast Wealth, offers invaluable insights for families planning to start their journey in Australia. The discussion dives into the financial costs of parenthood, like maternity leave and choosing between public and private health options for childbirth. Personal anecdotes reveal the emotional and financial challenges of budgeting for a family. Siobhan emphasizes early planning and seeking professional advice to navigate these complexities and ensure financial security.
32:02
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Quick takeaways
- Underestimating the financial implications of having a child can lead to unexpected costs, requiring careful budgeting for both upfront and ongoing expenses.
- Strategic planning around government parental leave benefits and employer policies is essential for maximizing financial support during family expansion.
Deep dives
The Importance of Diversification in Investing
Staying invested is crucial for wealth growth, and maintaining a diverse investment portfolio can help achieve this goal. Focusing on low-cost, broad-based ETFs serves as foundational elements for building wealth effectively. Core ETFs such as those provided by BetaShares, including AAA for high-interest cash, A200 for Australia 200 exposure, and NDQ for access to the NASDAQ 100, are specifically designed for investors building a core portfolio. This diversification can reduce risk and create stable potential for long-term returns.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode