Join Ben and Pete on the 7th season of Money: Faith and Finance as they explore strategies for building wealth across various life stages. With insights into managing HECS debt, the importance of superannuation, and investing when young, they address financial challenges which we all confront. They discuss how lifelong financial habits shape wealth and consider the balance of current and future financial planning.

Key Takeaways:

• Focus on your current financial circumstances but always consider future implications.

• Younger individuals may have fewer overheads, allowing for more risk in investments.

• Superannuation might seem dull, but it’s a crucial component of a secure retirement plan.

• It’s never too late to develop sustainable financial habits — start small and grow.

• Financial decisions should ultimately serve your desired lifestyle and values, including the capacity to be generous.

Notable Quotes:

1. "The good and bad thing about money is every day is a chance to get it right and a chance to stuff it up."

2. "You can make decisions today, and the best ones put in building blocks for 'Future You'."

3. "It's never too late [even] if you're older."

4. "Pick something, build it, stick with it — every decade has its vibe."

5. "Superannuation is not something you should sleep on. Having a good retirement isn't boring."

Resources

• 2024 Woman Financial Planner of the Year Michelle Stone on podcast She Wasn't Born Yesterday - Listen here

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

• Christians, like everyone, face daily financial struggles due to inherent human imperfection.

• Financial accountability and transparency are crucial for churches and organizations to maintain trust and compliance.

• Personal financial management can be improved through humility, seeking advice, and being open to mentorship.

• Overcoming fear of perceived greed is necessary to achieve effective financial stewardship.

• Practical tools like financial software and accountability partners can aid in better budget management and fiscal responsibility.

Notable Quotes:

1. "Explaining is better because it's more grounded in facts and there's less judgment." - Pete Burrows

2. "Money by itself isn't evil, it's probably more the love of money and the pursuit of it." - Pete Burrows

3. "Need isn't greed. Needing to be concerned with money does not mean you're greedy with money." - Pete Burrows

4. "Better questions get better answers." - Pete Burrows

5. "Good accounting isn’t just about debits and credits; it's about trust." - Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

• Retirement planning should begin as early as possible, ideally 20 years in advance, to maximize compounding interest and financial security.

• Financial guidelines suggest retiring with an income of half to two-thirds of one's working salary to maintain a comfortable lifestyle.

• Superannuation in Australia is a foundational retirement saving tool, but additional voluntary contributions are recommended for comprehensive coverage.

• Housing remains a significant consideration in retirement planning—whether to own, rent, or move in with family can notably impact one’s financial landscape.

• A fulfilling retirement is characterized less by financial wealth and more by meaningful activities, relationships, and contributions to the community.

Notable Quotes:

• "There's a big difference between retiring rich and having a rich retirement." - Pete Burrows

• "Start with an amount that is manageable for where you're at now." - Pete Burrows

• "It's about having a full life and interests… not just spending money and having a lavish lifestyle." - Pete Burrows

• "Get your house in order." - Pete Burrows

• "More money just brings you more choices; it doesn’t necessarily make your life better." - Pete Burrow

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.