Why money is the solution to happiness, with Melissa Goodin – Ep. 96
In this episode of the Geared for Growth podcast, Mike is joined by Melissa Goodin, Director and Senior Advisor of Retire Me Young Wealth Advice. Melissa is passionate about helping her clients live the lifestyle of their choice, and in this first episode of a two-part series, she shares her story with Mike.
With an educational background in psychology, Melissa brings a unique perspective to her role as financial advisor. She explains how a marriage breakdown and finding herself a single mum of three young children set her on her own path for financial independence. Melissa’s belief that money is the solution for finding happiness led her to question what was truly important in her life.
Acknowledging that everyone has different ideas of how much is enough, Melissa is a firm believer in delayed gratification in order to ultimately get what you truly want. Mike and Melissa discuss the importance of considering the introspective questions to find your why and Melissa explains how she looked to what gave her the most joy when designing her ideal life.
In this conversation, Mike and Melissa also look to the basics of budgeting and Melissa explains how she believes most people can save and invest much more than they currently do. They cover the need for structuring a solid financial strategy and the most common mistakes people make when trying to get ahead.
This is not your typical budgeting or get rich quick style of interview. Melissa speaks from the heart and her passion for finding joy in life and focusing on what truly matters will have you reassessing how you spend your days, and your money. This opening conversation in this two-part episode is one you won’t want to miss.
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Mike is joined by Melissa Goodin, Director and Senior Advisor of Retire Me Young Wealth Advice. Melissa is passionate about helping her clients live the lifestyle of their choice, and in this first episode of a two-part series, she shares her story with Mike. With an educational background in psychology, Melissa brings a unique perspective to her role as financial advisor.
What we cover in this episode
The psychology of money and why it’s the solution to happiness
What your financial strategy should look like
Understanding how much (or how little) you actually need
Melissa’s belief in delayed gratification
The very strong ‘why’ that led Melissa to financial independence
The importance of being cash flow positive
How you can save an extra $500 a week
Why you should be investing on a regular basis
“Most people with young children, the thing they really want is to be there for their family, they want to have time, they want to have a little bit of financial freedom where they feel like they’re not stressed all the time they can really focus on raising a happy healthy family” Melissa 3:30
“’Retire Young’ was founded as a way to help myself and therefore help others do what I did to get yourself out of the rat race” Melissa 4:11
“I guess it’s that moment to moment of noticing in your day noticing your body noticing your feelings and going like when are the times in my day where I’m just crazy happy or really at peace” Melissa 6:30
“Really what it came down to is as an entity as a family as an individual whatever you need to be cash flow positive and I always look at things from cash flow positive” Melissa 14:25
“Delayed gratification there’s a really crazy powerful tool and they do these studies that show that people delay gratification and generally end up being far far far more successful so it’s old fashioned advice but really it works” Melissa 18:51
“You need to be investing every week like literally every human in Australia needs to be investing every week every kid with a job needs to be investing whether it’s $5 a week into the share market” Melissa 25:48
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.