Plenty of podcasts focus on building wealth – and that’s great, as far as it goes. But focusing just on wealth misses the point.
I believe what most of us actually want is to have choice.
Choice in how much time we give to income-producing activities.
Choice about what those income-producing activities are.
Choice about where we live.
Choice about when we retire.
Choice about the ways we use our money to produce happiness.
In the Financial Autonomy podcast, I explore the different ways you can gain choice – from investing in stocks to becoming self-employed, starting a side hustle, or buying an investment property. I share learnings I’ve gained working with clients for over 20 years as a Certified Financial Planner, and interview others with interesting insights or experiences in gaining choice in life.
Could you afford to take six months off work? You might love the idea of stepping away from work for a while. Maybe you want to travel, study, Spend more time with family, or simply getting off the treadmill long enough to work out what you actually want next.
Then the financial anxiety kicks in.
What happens to the mortgage? How much cash would you need? Would you have to sell investments? What if it takes longer than expected to find another job? And after spending years building your career, super and investments, could taking time out now set you back later?
That’s where a career break stops being a daydream and becomes a financial planning question.
In this episode, Paul breaks down what you need to think through before walking away from your regular income, including some of the costs that are very easy to underestimate. He also looks at the bigger trade-off: whether taking some freedom now could change what becomes possible later.
Because building wealth shouldn’t only be about reaching a number decades from now. For many people, the whole point is having enough financial flexibility to make choices before retirement too.
Inside this episode:
How to work out whether the career break you’re imagining is actually financially realistic
The sabbatical costs that can catch you out even when you think you’ve saved enough
Where the money could come from when your salary stops
A timing decision that could affect the financial outcome of your break
Why you may need considerably more money than simply covering the months you’re away
What taking time out could mean for the wealth and retirement plans you’ve already built
The bigger question: do you really want to save all your freedom for retirement?
Want to build wealth while creating more options along the way?Our Wealth Builder program is designed for people in their 30s and 40s who want a clear strategy across investing, debt, super and the lifestyle they actually want their money to support. FIND OUT MORE ABOUT WEALTH BUILDER AND BOOK YOUR APPOINTMENT
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