Ben and Pete discuss effective ways to save for retirement. They discuss the importance of superannuation, the potential and pitfalls of property investment, and the simplicity of ETFs. They also cover the security of term deposits and the passion behind side hustles. Pete shares strategies for both young and seasoned investors. Whether you're planning for retirement or adapting to financial shifts, this episode offers valuable guidance on securing your financial future.

Key Takeaways:

• Superannuation remains a critical yet often misunderstood element of retirement planning, with opportunities for voluntary contributions and strategic fund selection.
• Property investment offers traditional value but comes with hefty transaction costs and market volatility considerations, demanding careful timing and planning.
• Exchange-Traded Funds (ETFs) provide accessible options for diversification in investment portfolios, appealing especially to younger investors with limited capital.
• Term deposits present a conservative, low-risk savings method, ideal for preserving funds against inflation although lacking growth potential.
• Side hustles can be rewarding hobbies or potential new career pathways, but require realistic expectations about their financial contribution to retirement plans.

Notable Quotes:

• "It's not the quantity of things in your life, it's the quality of things in your life that is important." – Pete Burrows on retirement focus.
• "Our financial setup now is our reality. You have to start from there." – Pete Burrows on assessing current financial resources.
• "People are very busy, you know, busy lives. I'm looking for achievable next steps." – Pete Burrows on investing in ETFs.
• "You learn the most from your mistakes." – Pete Burrows on financial learning and experience.
• "We can't take it with us. I haven't seen a client yet that's been able to tuck their money into their coffin." – Pete Burrows on the importance of quality versus quantity in life.

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

See omnystudio.com/listener for privacy information.

Join Ben and Pete as they unpack the role of contentment in financial well-being. Drawing on biblical wisdom from Philippians and Timothy, they explore how mindset shapes money habits. From embracing simple joys to budgeting well on a modest income, this chat shows how true contentment can reduce spending and increase gratitude.

Key Takeaways:

• Contentment as a Choice: Contentment involves shifting focus from accumulating more to appreciating what you already possess.
• Financial Mindfulness: Establishing a budget and regularly reviewing it can help identify areas of financial dissatisfaction and guide towards contentment.
• Value Experiences Over Possessions: Emphasize enjoying experiences rather than acquiring material goods to foster financial well-being.
• Scriptural Guidance: Biblical passages, such as those found in Philippians 4 and 1 Timothy 6, offer timeless insights on achieving contentment.
• Generosity and Stewardship: Being a good steward of your resources includes the willingness to give and lose money gracefully, which cultivates contentment.

Notable Quotes:

• "If you're not content, you're always going to want more." – Pete Burrows
• "Part of contentment is going, this money isn't mine, I'm a steward of it." – Pete Burrows
• "People don't enjoy money; they enjoy moments." – Pete Burrows
• "We have a television that…I like the fact that we're happy with that situation because…it saves us money." – Ben McEachen
• "Being content isn't about your contents; it's more about the vibe of having enough." – Pete Burrows

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

See omnystudio.com/listener for privacy information.

Ben and Pete explore the true costs of owning a car, from financing and depreciation to fuel, maintenance, and tax. They compare buying new versus used and unpack Aussie car trends, road safety, and environmental impacts. Pete also reflects on financial contentment and how our choices shape our lives.

Key Takeaways:

• Consider comprehensive costs of car ownership, from purchase to maintenance and eventual resale or trade-in value.
• Weigh the benefits of new versus used cars, especially in light of recent economic changes affecting vehicle markets.
• Analyze personal needs versus wants when determining the necessity of a first or second car.
• Explore alternative transportation methods and consider them in the broader context of personal finance strategies.
• Contentment and financial peace are key in making thoughtful decisions that align with personal values and current financial capabilities.

Notable Quotes:

• “The cost of owning a car is not just about the purchase price; it includes registration, insurance, fuel, repairs, and depreciation.” - Pete Burrows

• “We had the finances available to buy the car without taking a loan, which made the new car option more appealing.” - Ben McEachen

• “You can't forget the full cost of ownership of a car. It's not just the running costs; it's what you're going to lose when you trade it in or sell it.” - Pete Burrows

• “Many people overlook the financing and opportunity cost of what they could have done with the money spent on a car.” - Pete Burrows

• “In Australia, we are still a relatively car-obsessed country, often overlooking our beliefs and values when it comes to purchasing vehicles.” - Ben McEachen

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

See omnystudio.com/listener for privacy information.