123. Feeling Financially Safe Again
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How did Olivia begin her journey towards financial independence?
Welcome back to the Happy Saver podcast. I'm Ruth, a personal finance blogger here in Aotearoa. And in this podcast, I chat with a diverse bunch of people, I learn their story, and then I just condense it down so that you can hear helpful, relatable stories from Kiwis and the old Australian who are sharing their experiences about their personal finance in New Zealand. So thank you so much for letting me join you on your commute, your walk, your run, or while you get some jobs done around your house. Now, today's episode guest and I have for some time been practically writing novels over email. Olivia first contacted me after listening to one of my podcast episodes while sewing at home with a cup of tea beside her.
And she had recently discovered personal finance podcast through Francis Cook, then stumbled upon the Happy Saver and immediately felt in her words that she had found her people. At the time she wrote to me, Olivia was 58 years old, single and on track to become mortgage free by the age of 60. She was also only just beginning to learn about investing and KiwiSaver and was trying to make sense of financial advice, of fees and what retirement might realistically look like for her after decades of managing on one income. But over the months that followed, as Olivia shared more of her story with me, I realized this wasn't just a story about paying off a mortgage. It was a story about rebuilding financial safety.
Because for Olivia, becoming mortgage-free is not about retiring early to some luxury lifestyle. It's about finally feeling safe again. Olivia told me that she hasn't truly felt financially safe since her marriage ended back in 2000, which is 26 years ago. Now, Olivia's story is one I think will resonate deeply with those who feel like they've made mistakes financially or started too late. Because what Olivia has achieved is a story worth sharing. And it's not because she earned huge amounts of money, inherited wealth, or invested brilliantly in property or shares. In fact, only one of those things has happened for her. but because she quietly, consistently, and with determination kept getting back up every time life knocked her sideways.
And life has knocked her sideways quite a lot. Now, before I really crack into it, let's have a quick message from today's fabulous sponsor. Pocketsmith has many uses, and this one is close to my heart. As a blogger and podcaster, I manage my small business using it. You might manage a trust, rental income, or selling products. Pocketsmith can easily do it all. Throughout the month, I categorize each financial move my business makes. And at the end of the tax year, Pocketsmith consolidates all my financial transactions and assets into an organized, exportable format that I can share with my accountant. The more efficiently I can provide my financials to them, the faster they can complete my return, saving time and money and reducing errors.
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Today, Olivia is 59 and she grew up in a working class family in a small Canterbury town. Her dad worked while her mum was a stay-at-home mother and money wasn't something that was openly discussed. She was the youngest of three children and describes her upbringing as comfortable but certainly not lavish. One early money memory has stayed with her, and when she was around 13 years old, her dad was involved with a local rugby club that was planning a trip to Australia. And rather than borrowing or putting the cost on credit, the family spent several years gradually saving towards the trip. Olivia remembers club members regularly dropping off money to her dad, who helped coordinate all those savings.
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Chapters
8 chapters
1
How did Olivia begin her journey towards financial independence?
0:07–4:36
2
What challenges did Olivia face after her divorce?
4:36–11:14
3
How did Olivia's financial decisions impact her mortgage situation?
11:14–20:37
4
What lessons did Olivia learn from her financial mistakes?
20:37–32:58
5
How did Olivia rebuild her financial life after setbacks?
32:58–44:40
6
What strategies did Olivia use to pay off her mortgage?
44:40–55:00
7
How did Olivia shift her mindset about money and investing?
55:00–58:56
8
What is Olivia's vision for her financial future?
58:56–58:58