The Fat Wallet Show from Just One Lap
About This Show
The Fat Wallet Show is a show about questions. It’s about admitting that we don’t know everything, but that we’re willing to learn. Most of all, it’s about understanding as much as we can to make us all better investors.
Phrases like, “I’m not sure” or, “Let me look that up and get back to you” or, “I don’t know” don’t exist in the financial services industry. If you ever had a financial question you were too embarrassed to ask, you know what we’re talking about. In this business, appearances matter, and nobody wants to seem like they don’t know how things work or what the outlook is for the buchu industry. It’s easy to excuse that little vanity, except that people in the investment industry are meant to service investors - people like you and me who need to figure out what to do with our money.
There’s no such thing as a stupid question in this show. If you have unanswered financial questions, this is your opportunity to have them answered in a way that even I can understand. Pop them to us at firstname.lastname@example.org.
Hosted by Kristia van Heerden and Simon Brown.
Most Recent Episode
#84: Your financial weak spots
< 1 day ago
The below letter from one of our listeners stopped us in our tracks. So often we have no control over the course our lives would take. The challenge is to ensure our finances are in a position to sustain crises. In this episode, we talk about how to spot our own financial weaknesses and how to recover from a financial disaster. I have always been a HUGE fan of property. About eight years ago I was doing, I thought, pretty well. I had a high-paying freelance gig (very much the norm in my line of work). I bought four investment properties and was comfortably funding the shortfall between the rent and the bonds, levies, maintenance and other expenses. That was my road to financial freedom, or so I thought. Then, just like that, the high life ended. I was called into the head honcho's office one afternoon and told they were changing direction and not to worry about coming in the next day. After 10 years, I was given 24 hours’ notice. Back then I had never heard of income protection and I ended up losing everything. The investment properties, our cars, the house my wife, kids and I lived in. Everything. It was so dire that we had to move back into my parent's house. You have no idea how humiliating that time in my life was. I felt like the biggest loser and failure on the planet. We slowly started picking up the pieces. We found a small flat to rent, we managed to buy a small, old second-hand car cash. It's been a very long road and we are nowhere near where I want to be financially, but I am pretty proud of what we have been able to achieve over the last year. For the first time ever, I am going into a new year with a small, but growing, emergency fund. I also now have income protection in place. Another first, I have paid one of my kids’ school fees upfront for the year, thanks to you guys mentioning it on the podcast. That decision will save me 8% on his fees this year. It's been a slog but I finally feel like I am starting to get my head above water. I also managed to invest a fair amount over the last year for what I planned to be a deposit on a home for my family. We have been desperate to own our own home again and it has been burning my ass 'paying off someone else's bond’ as is often said. It's the one thing about this whole process that has been eating away at me.
Episodes of This Show
7 days ago