OD #10 - The “Safe” Financial Mindset That’s Secretly Keeping You Broke

Ever wonder why you're financially stuck despite doing everything "right?" That gnawing feeling that something's off with your finances isn't just in your head—it's the reality of playing by outdated rules in a completely different economic game.

The financial playbook most of us inherited—save diligently, avoid debt, buy a home, play it safe—worked beautifully in our parents' era when Sydney homes cost four times the average salary. Fast forward to today, where that same home requires sixteen times your income, and suddenly those trusty rules don't add up. This podcast episode tears apart the dangerous illusion of financial safety and reveals why comfort might be your biggest risk.

We dive into shocking statistics about Australian retirement reality: the average Australian retires with just $300,000 in super, enough to last only 4-5 years of a 25-30 year retirement. Meanwhile, 71% of Aussies avoid investing altogether—not because they lack money, but because they're paralyzed by fear. The metaphor we share about airport moving walkways perfectly captures what happens when you stand still in a world that's accelerating all around you.

While we're not advocating recklessness, we challenge listeners to recognize the difference between gambling and strategic risk-taking. With interest rates dropping and property prices likely to rise in response, waiting endlessly on the sidelines isn't neutral—it's a decision with real consequences. Those who took action 18 months ago are now considering their third property while others are still "researching" their first move. The biggest risk isn't making a mistake; it's watching time disappear while your money works for someone else.

Ready to stop spinning your wheels and start building real momentum? Share this episode with someone who needs to hear it, and let's redefine what financial safety really means in today's economy.

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Follow us on Instagram @zekeguenthrothofficial @oscardonproperty and @assetroad for daily insights, property breakdowns, and behind-the-scenes updates.
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The information provided in this podcast is general in nature and does not constitute personal financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Asset Road Pty Ltd recommends you seek independent financial, legal, taxation or other advice as required. All investments carry risk. Past performance is not indicative of future results.

Episode Transcript

Speaker 1 (00:12):
Welcome back to another episode of the Finance
Bible Podcast.
Zeke here and your co-host,oscar.
But before we get into it,please note that nothing in this
podcast should ever beconsidered personal financial
advice.
Of course, if that is what youare seeking, reach out.
We'll get you in touch with thecorrect professionals.
Get the job done properly.
Sit back, relax and enjoy theshow.

(00:35):
Let's get into it.
Welcome back to another episodeof the Finance Bible Podcast.
If you're listening to thisright now, there's a good chance
.
You're already doing betterthan most.
You're earning good money.
You've got discipline.
You're not reckless.
Maybe you've been praised forbeing you know quotation smart
with money, but deep down, youknow something's not right.

(00:55):
You're not where you want to be.
You might still be rentingwhich isn't really a bad thing
You're still unsure.
You're still waiting for thatmoment where things start to
click and the worst thing is,you can't even point to what
went wrong because you followthe rules that society has given
you for the last 20, 30, 40years of playing it safe.
So this episode is about whythat path the safe path is

(01:20):
quietly keeping smart peoplestuck and what it really does
cost you down the track.
Let's rewind for a second.
What were you taught about moneygrowing up In school, at home?
What were you actually taught?
What were the fundamentals?
Because if you're anything likeme, the lessons are pretty
simple.
When you were quite young,you're told to save your money,
get out of debt, don't even gointo debt.

(01:42):
So avoid debt fully, buy a hometo live in, don't really take
any risks and play it safe.
Now, don't get me wrong.
Our parents weren't wrong forbelieving that Back in their day
that worked 100%.
You had wages which were insync with house prices.
You could buy a home on oneincome.
You don't need two good incomesto do that.
Job security was a real thing.

(02:03):
Back then, in 1985, the averagehome in Sydney was around
$75,000 and the averagefull-time wage was $19,000.
So that's about four times yoursalary back then.
Today, sydney homes average$1.6 million and the average
wage is only $98,000.

(02:24):
So that's over 16 times yoursalary for the average home.
So the rules have changed.
You can see that, but theadvice didn't, and this is why
so many people are stuck rightnow.
And if you're still playing bythat old playbook, you're in a
game that's been completelyrigged.
Here's a trap Safe feels good.
It gives you the illusion ofcontrol, of certainty, of

(02:48):
responsibility.
But if you're playing it safe,you're not really going to move
forward.
And it doesn't mean movingforward.
It definitely doesn't meanbeing free as well.
The average Australian which isquite drastic retires with just
over $300,000 in their super.
For women it's even less.
It's around $240,000, $245,000.

(03:10):
Yet studies show that you'llneed between $85,000 a year.
In my mind, to retirecomfortably you might see other
studies you might need $40,000,$50,000, which is ridiculous.
No one can live off $40,000,$50,000.
In retirement generally youactually spend more because
you're doing more activities.
So I believe around 80, $85,000per year is a comfortable

(03:32):
retirement.
So do the maths?
That safe approach of 300K insuper, which is the average
Australian, that runs out infour to five years.
But the funny thing isretirement is 20 to 30 years
long and for some people whohave played the game the right
way, they're going to be retiredfor a lot longer than 20 to 30
years.
But that kind of safe is notsafe.

(03:56):
The $300,000 side, it'sliterally a slow financial death
.
You're not failing dramatically, you're just gradually running
out of time, which is also worseoff.
Most people think that by notmaking a move they're staying
neutral, but inaction notactually doing anything about it

(04:16):
is not neutral.
It's a decision withconsequences.
So, for example, if you'remaking 120 grand a year and not
building leverage so, forexample, if you're making 120
grand a year and not buildingleverage, your income is being
consumed by your lifestyle and,most importantly, your tax, so
you're realistically justcycling dollars.
So, for example, if you didhave 120 grand a year, instead

(04:37):
of not building leverage, whydon't you use that money to
borrow more money from the bankto build up your empire and
start your property investmentor shares or buy a home?
What you're wanting to do In2024,?
The average Australian savedonly 3.6% of their disposable
income, which is about $70 aweek.

(04:59):
I understand there's heaps ofpeople out there who are
supporting young families orlook after people and get a lot
of health bills and things likethat, but $70 a week was the
average, which isn't really thatmuch.
You're spending if you do liketo go out on the weekends.

(05:20):
You're spending these days atleast $200 on one night, on a
Friday, saturday night butpeople only put $70 a week into
their savings.
It just yeah, it's notfinancial momentum, it's
literally just survival mode andjust getting through Like.
Imagine this scenario You're atthe airport.
There are two moving walkwaysOne takes you forward and the

(05:44):
other, on your left, standsstill.
You step onto the one on theleft, which stands still, and
you feel safe, but everyone elseon the right-hand side is
moving past you and then, all ofa sudden, they're in front of
you and you're watching theirbacks.
This is exactly what happenswhen you follow safe strategies
in a world that's acceleratingin front of you.

(06:05):
A 2023 report from Finder foundthat 71% of Aussies don't
invest because they're scared ofmaking the wrong move.
Not because they don't have themoney they have the money and
not because they don't wantfreedom, because everyone wants
freedom.
They're just scared, and it'sunderstandable.
Like you go on TikTok andsocial media and there's so many

(06:25):
people who are, you know,smashing everyone about.
You should invest in this,invest in that, especially in
cryptocurrency.
Everyone's the experts, so,understandably, people are
scared and don't know who totrust.
But the thing is, we've beentaught to avoid risk like it's a
disease.
But here's what no one tellsyou comfort is just a slower

(06:46):
risk.
It doesn't feel dangerous, butit kills momentum, the biggest
risk, and what I've told myselfin the past, if I was ever
nervous about something is thebiggest risk in life is not
taking a risk at all.
So that can be starting abusiness, it can be investing in
that property and buying thoseshares, messaging that person
that you want to get back.

(07:06):
With anything, it goes foreverything, but if you don't
take a risk at all, that is thebiggest risk that you ever will
take, if that makes sense.
I remember talking to someonelast year who was in their early
30s good salary of $110,000, nokids.
They're renting pretty goodsaver, I'd say quite disciplined
.
They'd been researching for twoyears of where to buy, what to

(07:33):
do with their money, etc.
And they've had conversationswith companies and individuals
as well who can help them buythese places or put them in the
right path.
But they never pulled thetrigger.
They were still stuck, stillnervous, and in that same time
their friend who acted made over80 grand in equity just because

(07:55):
they took action and didn'twait along the sidelines,
because they moved, and that'swhat it's all about Goes back to
the airport scenario.
You know you've got to moveforward and just take the leap
and take the risk, because acalculated risk is obviously
better than just a normal risk,which is a gamble, so you never
want to do that.
But speaking to right peopleand doing your research, that's

(08:18):
fine, but it doesn't take twoyears to do research.
It might take a week or twoweeks.
When people say they've beensitting on the sidelines for two
years or waiting for the righttime to do it, that's just
another excuse they're trying totell themselves so they don't
feel bad.
But this exact scenario thishas actually happened more than
once of people coming to uswho've been sitting on the

(08:38):
sidelines for a long time andother people in that same
timeframe who've come to us andgo to other people as well, have
made drastic amount of moneyjust because they've done the
action.
The funny thing is, when thisperson buys their first property
, someone else in a similarposition back then is already
onto their third.
So it's just funny how thingshappen like that.

(08:59):
The most important thing iswanting to the importance of
rebuilding this idea of safety,because when you're saying you
know you don't want to be safe,we're not telling you to be
reckless, because that's not it.
I'm telling you to be morestrategic.
And strategy feels unsafe atfirst because it's unfamiliar,
but once you get familiar withit.

(09:22):
Over time it turns into control, and control over your time,
control over your income andcontrol over your decisions,
which are the three mostimportant things when it comes
to building your financialbacking in your empire.
You don't need to gamble togrow, because gambling is.
You know it's gambling.
It's not ideal, but you do needa plan that aligns with your

(09:44):
values, your goals and yourtimeframes.
So, pending your age and whenyou're wanting to retire or what
you're wanting to do, that planmight include building equity,
might plan on building high fiveyears, waiting for a feeling of
readiness that never comes,especially today, because if

(10:17):
you're looking at the news andyou're kind of aware with what's
been going on in the countryand in the markets, the interest
rates have slowly, graduallydropped and looks like they're
going to continue to drop.
And on history, looking back onwhat's happened in recent rate
drops, property prices tend todo the opposite and increase.

(10:37):
So, especially for the nextfive years from now, if you're
sitting on the sideline, youwill miss your chance because
all of a sudden things becomeunaffordable.
And if you're trying to get inearly and rent vestas which I
myself am a rent vesta, which Ilove I think it's the best thing

(10:58):
to do, you might miss the boat.
So if you are listening to thisand you've been sitting on the
sidelines for a lot of timebecause you feel safe and you're
a bit nervous and you've gotfear, you're not alone.
So many people have fear, likelook at all the statistics that
I've spoken about in thisepisode.
The majority of Australians arefear-focused and they'll never

(11:19):
take a leap until it's too late,and unfortunately that's what
happens.
And then they live off thegovernment income and then the
government income of retirementand pension is gradually
decreasing every single year.
So whoever knows if that'sgoing to be around by the time
you retire?
Most likely it probably won't.
So you've got to set yourselfup and most of the time your

(11:39):
super contributions generallywon't be enough, unless you work
in a government job, becausethe employee contributions there
are substantially higher.
But don't allow her to just sitback and think she'll be right,
because, I hate to say it, ifyou don't take any action and
actually plan for your future,it probably won't be right, and

(12:00):
there's so many professionalsaround that can help you and
even just have a chat about it.
But if you're feeling stuck, ifyou're earning well but you're
still spinning your wheels.
Maybe the problem is just theplan, it's not you, because,
like I said earlier, we're alltold to play it safe, but in the

(12:20):
world today, safe is watchingtime disappear while your money
works for someone else.
Safe is sitting in a job youhate until 67, because you never
took the leap and builtleverage to get you out of the
rat race, as well as, like Ijust mentioned, hoping super
will give you freedom, but deepdown, you know it won't, which
is unfortunate.

(12:42):
The truth is, you're not here toplay safe.
You're here to build freedom,create a legacy, and if you're
ready to start asking betterquestions, we're ready to help
you find better answers.
That's why we do the podcast.
So if you have any questions oryou want to get in touch, feel
free to hit us up.
But it's so important to stopplaying it safe because the safe

(13:04):
path in life in today's day andage is secretly keeping you
broke.
We'll see you on the nextepisode.
We hope you enjoyed the episode.
As always.
You know exactly what to do.
Hit that follow button,subscribe, whatever platform you
listen to this podcast on.
Also, share it to friends,co-workers, wherever you think

(13:26):
may benefit from it.
But unfortunately it's the endand we will see you next week.