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
Then you don't have that moment of, oh, no, I've got some money.
What shares should I buy?
How do I buy shares?
If you've thought about that already, you're ready to go.
So I think there are people in that situation where, yeah, you won't feel like it's achievable for you, but that doesn't mean you shouldn't learn about it and be prepared for when the opportunity comes around.
And then, of course, there's people who have retired and
I speak to a lot of people who have retired who are keen to improve their financial situation.
You can probably improve it and tweak it, but your chances of getting to financial independence once you've stopped earning your own income is much harder.
It would be very hard to do it on an Australian pension considering it's so low.
It's basically our poverty line.
Exactly.
Total subsistence living.
We are, I think it was number 31 or 33 out of 35 OECD countries for how much we put into pension.
It's embarrassing for a country like us to have put so little into our pension.
And that doesn't look like changing significantly in the short term.
Well, and the irony of this, right?
so that super low level of subsistence living where you are scraping by and every day you are worried about can I afford my rent and my food actually yeah like creates financial stress which affects your IQ which means you make worse decisions so the irony is we keep people in this state of stress and worry and concern and it makes their lives worse because they make worse decisions we actually end up with this manufactured situation and that's where there's a lot of tension I think with
our government um this perception of oh you need to work or contribute to earn your money well look if you take away that financial stress and put that that that floor under people so they feel like they're not going to lose their home they're going to be able to afford to eat you've got a better chance of them actually succeeding in life and finding employment that they can then support themselves with but we kind of we make it like oh you've got to go first you've got to find the job first and get the income first and then you'll be okay i i
Yeah, it's an interesting time.
But I think, yeah, that raise the rate that people are talking about, raising that basic rate, makes a lot of sense to me because even looking at the pension, I don't know how people survive on the pension.
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