Lacey Filipich

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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

And they have a very clear plan.

And if you're like that, then

all the stuff around the financial independence movement is helpful for you because it's a very long-term focused movement.

And having that long-term goal, especially it might seem hard when you're in your 20s to think about decades ahead.

But that time is going to pass anyway, right?

So having a goal is quite a useful thing because, you know, you're actually working towards something.

But if you are not the sort of person who likes a long-term goal, who doesn't need that goalpost in the future, this can still work for you just so you know.

You can be a bit like me where you're still just plodding along and then suddenly one day you go, oh, look, I'm in a better financial situation than I thought I was.

There's nothing that I think the fire movement or the financial independence stuff that you do does that robs you of anything.

I mean, some people will have this feeling of, oh, well, you have to live like a monk.

That's not really true.

It's up to you to design it how you want it to be.

Living like a monk just gets you there faster is the theory.

That's for people who really want to get there when they're young.

That's the people who have that goal that they want to get there within a decade or so.

But even if you just do small things now, you know, save a little bit more now, get into investing earlier and small amounts of investing without taking on huge amounts of debt, that kind of stuff, then one day in 10, 20 years' time you'll wake up and you'll be in a better financial situation than you could have thought if you had done nothing at this point.

So I think it's very low risk for people to do some of the actions associated with becoming financially independent.

you're only ever going to really put yourself in a better financial situation by having a buffer fund, by having some investments, by having some source of income beyond your job, right?

So I think it's pretty low risk.

Exactly.

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