Lacey Filipich

speaker

607 appearances 1 recordings 1 series first heard Aug 2020 last heard Aug 2020

Lacey Filipich’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Is FIRE Right For You? Special Guest Lacey Filipich · 23 Aug 2020 podcast

So I think about my mum when she was a single parent and looking after two kids.

And, you know, we were eight and six when my parents split up.

And although my dad did contribute financially, it was very erratic because he ran his own business.

And also because he ran his own business, of course, anyone who's run their own business knows that if people don't do their deductions very well, that can

represent a lower income than perhaps Israel.

So having done my books for my dad for a couple of years, I know he was probably paying less childcare than he really had to.

And since he's, you know, now absolved all his debts with the tax office, I can talk about that.

But I think, you know, a situation like that for my mum, she was keen to start investing.

wanted to do it knew the theory but there was just there was literally no money spare there was nothing she was a magician with money she stretched every dollar like to five it was incredible what she could achieve with a small income and you know my sister and I never felt like we went without you know I know we didn't have flashy holidays we had you know the one week trip to the gold coast from Brisbane um to stay in a motel each year as opposed to you know a fancy overseas trip but I don't remember ever feeling like I was lacking but the impact is she had no extra money

to save and then invest she had some savings as a buffer but couldn't afford to start buying shares or property or anything like that and that was a good 10 years you know from when I was 8 to about 18 when she just didn't have spare cash but then while she had been working through that period she was getting promotions getting paid a bit more I started looking after myself my sister started looking after herself and we both moved out of home suddenly Fran had more money

And at that point, she'd had such good discipline about saving that she had capital that she could very quickly deploy.

And she'd been learning about it as she went.

So I think for people that might be in similar situations, maybe they're struggling to get work.

Maybe they have high outgoings relating to their family.

They've got care responsibilities.

You know, those are people who are going to look at financial independence and just go, oh, it's just not for me.

And you might be right right now and you might be right for the next decade or two.

Who knows?

We don't know what's going to happen.

But if you learn about it now and you start putting in the disciplines about saving now, then when you do have some spare cash, then you can jump onto it quicker.

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