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
And it's not really that new as a concept.
If you read books like, you know, The Richest Man in Babylon, you know, these concepts of becoming financially independent, of having assets that pay you an income have been around since money was invented, like 3000 plus BC.
We get this tendency because it's got a bit of popularity at the moment and there's some people who are, you know, new and exciting to think that this is a brand new concept.
It's really not.
It's been around for ages.
We don't learn about it, which is the frustrating part because we really should be learning about it because the sooner you start, and I think that's the thing I've had, when I look at my friends who are now in their mid to late 30s and they've got families and they didn't do this stuff, it's a harder slog for them to get there.
They've got less time, less of a runway, you might say, if you like that kind of idea of a longer runway gives you a smoother takeoff.
That's quite a nice analogy.
So it's harder to catch up, whereas if you learn this stuff when you're in high school or in university or in your early 20s, gee, you're much further ahead of the game.
Yeah, and it's that speed thing, right?
When you start when you're young and it's a little bit, you don't have to pay as much attention because the power of time is on your side.
The compounding effect goes for longer.
I think it's going to be very interesting in this next decade when we look at the fallout from,
the coronavirus and what's happening with our economy, which kind of makes me think that even if you haven't started yet and you're in your 30s, then hey, maybe you're not in a bad position if you get onto it in the next couple of years.
You might not have lost too much runway there.
You never know.
No one's got a crystal ball.
But yeah, it is one of those things I think if you're young and listening to this, just little actions sooner make a huge impact and you can't underestimate that.
Oh, definitely.
There's plenty of situations like that.
Showing 161–180 of 607 · page 9 of 31
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