Aussie Firebug

Today I’m speaking with Terry Waugh who you may know as Terry W 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 does it make sense to use one? (20:49)How does a trust structure protect your assets? (25:20)How do distributions work when investing through a trust? (27:10)Who can pay money into a trust and how does that work? (29:42)When does it make financial sense to set up a trust? (34:38)How much do trusts cost to set up and to keep running? (35:34)What is a bucket company and why would anyone use it? (36:14)Terryw’s Tax Tip #14 - Never park money in a loan - why avoiding mixed purpose loans is so important. (40:09)How to set up and execute a debt recycling strategy in 2021. (42:54)Are testamentary discretionary trusts a good option for preserving wealth for your kids? (47:49)Why Terry thinks that a testamentary discretionary trust is the ultimate structure. (50:00)Buying an investment property through a company structure. (54:06)Protecting your own assets when entering a new personal relationship. (55:34)Who is the best person to see for investment structuring advice - a lawyer, accountant or financial adviser? (01:00:12)Linksterryw.com.austructuring.com.auThe Structuring PodcastTerry’s Tax Tipswww.aussiefirebug.com/podcast

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 Association of Australiawww.aussiefirebug.com/podcast

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 long time period following a set of principles and guidelines?Do private investors really have an advantage over fund managers?What is Rask all about and what does Owen hope to achieve through the company?LinksRaskAustralian Finance PodcastAustralian Investors PodcastScott Phillips | Investing in & Growing a Brandwww.aussiefirebug.com/podcast

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? Is money really the most important part?Tina’s personal story - how Tina and her partner went from broke to semi-retired in just 5 years.The reality of semi-retirement and living a balanced life.What is the difference between Flamingo FI & Coast FIRE?LinksWebsite - Money FlamingoBlog - JL Collins - Why You Need F-You MoneyBlog - Mr Money Mustache - The Shockingly Simple Math Behind Early RetirementWebsite - NetworthifyBook - The Psychology of Money - Morgan HouselBlog - Project 1000: 1000 days to FreedomBlog - Hypocrisy and Manipulation - Is the FIRE Movement Corrupt?www.aussiefirebug.com/podcast

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 NAB EB over the last couple of years?LinksNAB Equity BuilderNAB EB Guide by The Ships Ledgerwww.aussiefirebug.com/podcast

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 that generates zero wastewater.The bottom line - what was the total cost of the project? LinksAussie FIRE Discussion GroupLithium-Ion Battery Test CentreCSRIO Solar PV for your home: testing what’s Wattwww.aussiefirebug.com/podcast

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 Whole-Brain Child: 12 revolutionary strategies to Nurture Your Child's Developing Mind - Tina Payne Brysonwww.aussiefirebug.com/podcast