Wealthlab Podcast

SummaryIn this episode, Scott and Phil explore various financial planning tools, particularly focusing on superannuation comparison tools. They navigate through government and private tools, discussing their effectiveness and usability. The conversation also delves into risk profiling and the importance of understanding investment strategies. The hosts emphasize the need for professional advice in navigating these complex financial landscapes, highlighting the limitations of DIY tools.

10+ years. Hundreds of client conversations. Market cycles, lessons, mistakes, and plenty of cringe-worthy photos.Want to know if you're on track for retirement? Take our free 2-minute quiz: https://wealthlab.scoreapp.com/In this episode, Scott, Phil, and Jordan take you behind the scenes to reflect on over a decade in the world of financial advice, wealth management, and running Wealthlab. It’s part throwback, part wisdom, and fully real.We share:📈 What’s changed (and what hasn’t) in financial advice since 2012💬 The most common client questions we hear🛑 How to spot a dodgy advisor — and check if yours is even licensed📷 A few classic headshots and stories that show just how far we’ve come✅ What really matters when it comes to building trust and wealth over timeWhether you’re thinking about retirement, feeling stuck with your super fund, or just want to know what working with an advisor should feel like, this episode is a rare peek inside the people, values, and real-world experience behind Wealthlab.

How bad can a super fund really be?In this Wealthlab episode, Scott and Phil go on a mission to find the worst performing super fund in Australia using the official MySuper comparison tools. What starts out as a simple data search quickly spirals into a frustrating (and hilarious) deep dive into just how broken these tools really are.Using the ATO's YourSuper comparison tool, industry websites, and default lifecycle fund disclosures, they uncover:- Misleading return ranges (some as wide as 3%–6.5% for 10-year performance!)- Lifecycle options that get worse as you age- Government-endorsed tools showing closed funds in top rankings- Fines for misleading return data — paid with member moneyThis episode breaks down why super fund performance figures are confusing, how funds manipulate perception with outdated or selective data, and why comparing super funds is nearly impossible without professional tools and advice.💡 Whether you’re in AustralianSuper, Hostplus, Aware Super, ART, QSuper, or any other fund — this is a must-listen to understand how your retirement savings are really being measured.Check Wealthlab Website: https://wealthlab.com.au/Book Free Super Check: https://wealthlab.com.au/book-a-call/

Is AI the future, or have we hit peak hype?In this episode of the WealthLab Podcast, Scott and Phil break down the AI boom, Big Tech’s recent pullback, and whether the AI bubble is about to pop. With Microsoft and Apple scaling back AI investments, and an explosion of AI-powered startups with sky-high valuations, is this the start of a reality check? Or is AI just evolving into something more specialized?What You’ll Learn in This Episode:✅ Is AI still a good investment, or is the bubble bursting?✅ Why Microsoft and Apple are stepping back from AI funding✅ How AI will shift from hype to real-world applications✅ The rise of AI slop—low-quality, mass-generated content✅ Will AI replace stockbrokers, journalists, and financial analysts?✅ How to spot AI-driven financial scams and misinformationKey Takeaways:The AI hype cycle mirrors the early dot-com boom—mass adoption, followed by a reality check.Big Tech isn’t abandoning AI, but they are cutting back on unsustainable investments.AI’s future lies in industry-specific applications (think doctors, mechanics, and finance).The rise of AI-generated financial advice—and why you should be skeptical.AI will create opportunities and risks—but where will it leave investors?

Why is the first $100K the hardest? And why does your wealth seem to grow so much faster after reaching it?In this episode of the WealthLab Podcast, Scott and Phil break down the psychology, math, and strategy behind hitting your first $100K in savings and investments. We explore compound interest, the snowball effect, and why your net worth skyrockets after $100K.What You'll Learn in This Episode:✅ Why the first $100K takes the longest—and how to speed it up✅ How compound interest and time work in your favor✅ The difference between saving for $100K vs. investing for $100K✅ Why increasing income matters more than extreme budgeting✅ How delaying retirement for just 2 years can add $100K+ to your balance✅ Why most people fail to invest early—and how to avoid their mistakesKey Takeaways:It takes around 7 years to save $100K if you're investing $1,000/month at a 6% return.The second $100K takes just 4.5 years, thanks to the power of compounding.Your mindset matters! The wealthy focus on growing money, not just saving it.If you start late, you’ll need to invest 2.5X more to catch up!Small decisions today—like investing early and staying consistent—make a massive difference in long-term wealth.If you're ready to crack the $100K milestone and accelerate your path to wealth, this episode is for you!

Trump Meme Coin is Making Waves! But is it a smart investment or just another grift? In this episode of the WealthLab Podcast, Scott and Phil break down the Trump Coin phenomenon, covering how to buy Trump coin, price predictions, and whether it's worth the hype. 🔥 Key Topics Covered: What is Trump Meme Coin, and why is it trending? How to buy Trump Coin (including Binance & other platforms) Trump Coin Price Prediction – Speculation or serious investment? The risks of meme coins & market manipulation Should you buy Trump Coin, or is it just another pump-and-dump? With over $44 billion in trading volume, Trump Coin is shaking up the crypto world. But before you dive in, make sure you know the real risks vs. rewards. Is this just another get-rich-quick scheme, or is there actual value behind the hype? 👀 Listen to this episode to get the full breakdown!

In this special year-end episode, Scott and Phil take a deep dive into 2024’s biggest lessons, trends, and surprises. From Christmas spending patterns and how they reflect broader economic behaviors to property market dynamics and the challenges of supply vs. demand, this episode delivers a comprehensive review of the year. We also discuss the rise of AI and its parallels to the early internet boom, explore the energy landscape and the shift toward renewables, and reflect on what these trends mean for you as an investor. Key topics include: The power of budgeting and cash flow planning: How disciplined financial habits unlock early retirement and financial freedom. December market trends: Why year-end portfolio performance often defies expectations. Property market realities: Inflation, supply challenges, and what could change in 2025. Cybersecurity lessons: Protecting your data in a world of increasing breaches. Christmas budgeting tips: Avoiding overspending during the festive season. 💡 Plus, an exciting announcement about WealthLab’s new team member joining us in 2025 to enhance the services we provide to you. Whether you’re reflecting on your own financial journey or gearing up for a strong start in 2025, this episode is packed with actionable insights and inspiration.

In this episode of the WealthLab podcast, Scott and Phil tackle a surprising concept: why looking poor might actually be the key to building lasting wealth. They break down the dangers of trying to “keep up with the Joneses,” the financial traps of status signaling, and how focusing on real financial goals can lead to freedom and security. Join us as we explore: How the wealthy think differently about money. The pitfalls of the “hedonic treadmill” and how to escape it. Why frugal living beats flashy purchases for long-term success. Real-world examples of avoiding unnecessary debt and redirecting resources toward building assets. Whether you're struggling with financial stress or looking for strategies to grow your wealth, this episode is packed with actionable tips to help you focus on what truly matters: achieving financial freedom, creating security, and living authentically. Stop chasing appearances and start building real wealth today. Don’t forget to like, subscribe, and share with someone who needs to hear this!

In this episode of Wealth Lab, Scott and Phil sit down with professional photographer Lauren McAdam to discuss the value of engaging an expert versus doing things yourself. They dive into key moments in life—whether it’s capturing family traditions, legacy photography, or managing your finances—and explore when it makes sense to call in a pro. Learn how Lauren captures authentic family moments and how these lessons translate to financial planning, branding photography, and building a personal or business legacy. They also delve into how professionals bring years of experience that DIY approaches can't match—whether it's managing retirement plans, taking professional headshots, or avoiding costly mistakes. Tune in to hear why investing in the right help can make all the difference!

In this episode, we delve into the allure and practicalities of cruise ship retirement—is it a genuine luxury retirement avenue or just a captivating myth? We compare the cost of retirement at sea to staying in a bustling city, equipping you with knowledge to make informed retirement decisions. Does living on a cruise truly lower the cost of retirement? We answer these pivotal questions, providing insights into achieving your retirement dreams. Moving to the FIRE movement, in this podcast, we address pressing questions that you may have pondered: Is the FIRE movement a myth or a genuinely workable strategy? How effective is the FIRE approach in real-world scenarios? We discuss the steps to early retirement planning and the lifestyles that support financial independence. Hear from experts and retirees who have successfully navigated their paths through these financial strategies, enhancing your understanding of retirement trips and the dynamics of early retirement. Furthermore, we emphasize the critical role of financial literacy. Teaching our children the value of money and instilling robust financial planning skills from an early age can set the foundation for their future success. Explore practical tools and engaging strategies for introducing financial concepts to the younger generation.

In this insightful episode of the WealthLab Podcast, Scott and Phil are joined by Nick Poisson-Rivière from Haven Wealth, a seasoned expert in financial services with over 25 years of experience. Together, they dive deep into the investment landscape for 2024, focusing on how you can invest smart with the right strategies tailored to your financial goals. Managed Discretionary Accounts (MDAs) are at the forefront of this discussion, offering a smart investment solution that can help you boost your portfolio with personalized management, market flexibility, and enhanced risk management. MDAs are investment accounts where a professional manager makes buy, sell, and hold decisions on your behalf, based on your agreed-upon strategy. This allows for greater agility in responding to market changes and ensures your portfolio stays aligned with your financial objectives. Nick breaks down how MDAs work, why they might be the ultimate investment hack for you, and how they can align with your financial strategy to deliver superior performance. Whether you're looking to invest smart in 2024 or seeking a comprehensive investment strategy that offers diversification and risk management, this episode provides the insights you need to make informed decisions. Tune in to learn how MDAs can give you the competitive edge in a rapidly changing market. Keywords: Smart Investment, Invest Smart in 2024, Investment Strategy, Boost Your Portfolio, Managed Discretionary Accounts, Personalized Investment, Market Flexibility, Diversification, Risk Management, Financial Goals. #SmartInvestment #InvestSmart2024 #InvestmentStrategy #BoostYourPortfolio #ManagedDiscretionaryAccounts #FinancialGoals #PortfolioManagement #WealthManagement #InvestmentPlanning #MarketFlexibility #RiskManagement #PersonalizedInvesting #Diversification #WealthCreation #FinancialFreedom #WealthLabPodcast #financialsuccess

In this episode of the Wealthlab Podcast, we dive deep into the world of budgeting with expert cashflow coach Hannah. Discover the truth behind common budgeting myths and learn how to take control of your finances with effective cashflow management. Hannah also sheds light on the broader role of mortgage brokers, beyond just securing home loans. Whether you’re struggling with spending habits, looking for financial advice, or curious about cashflow coaching, this episode offers valuable insights to help you navigate your financial journey.

In this explosive episode of The Wealth Lab podcast, Scott Jackson and Phil Sproule dive into the shocking developments in US politics and their potential impact on your superannuation. With Joe Biden's unexpected withdrawal and Donald Trump's likely return to the presidency, we're breaking down what this means for Aussie investors. Discover: How Trump's previous tenure saw a 70% increase in the S&P 500 The potential for interest rate cuts and asset appreciation What Trump's return could mean for US-Australia and US-China relations How these global shifts might influence your super balance Plus, get our expert insights on: Navigating market volatility and the impact of the US election on the Australian stock market The importance of diversification in your investment strategy Why knee-jerk reactions could cost you Whether you're a seasoned investor or just starting out, this episode is packed with valuable information to help you make informed decisions about your financial future. Don’t miss out on this timely analysis – hit subscribe and get ready to supercharge your investment strategy!

🎧 In this thought-provoking episode of the WealthLab Podcast, Scott and Phil dive deep into the world of charitable giving and explore how it fits into a comprehensive financial plan. 💰❤️ Scott kicks things off by discussing the key concepts from the book "Die with Zero" by Bill Perkins, which challenges traditional notions of saving and spending. Together, they explore how intentional giving throughout one's life can lead to a greater sense of purpose and fulfillment. 📚💡 Phil shares his personal experience of donating his time to the local surf life saving club, highlighting the emotional rewards of giving back to the community. 🏄‍♂️👏 This sparks a conversation about the various ways to make a difference, from volunteering time and skills to making strategic financial contributions. 💡💸 The duo then cracks into the practical aspects of incorporating charitable giving into a financial plan, including setting giving goals, choosing meaningful causes, and tax benefits. 👨‍👩‍👧‍👦💝 Throughout the episode, Scott and Phil emphasise the importance of finding a balance between personal financial security and philanthropic pursuits. They offer valuable insights on how to make giving a part of one's financial journey without compromising long-term goals. 🎯💰 Whether you're a seasoned investor or just starting to think about your financial future, this episode will inspire you to consider the power of giving and its potential to enrich your life and the lives of others. Tune in now and discover how you can align your wealth with your values and make a lasting impact! 🌟💖 Remember to like, subscribe, and share the WealthLab Podcast with your friends and family. Join us on this journey to financial success and making a difference in the world! 👍👥 #WealthLabPodcast #CharitableGiving #DieWithZero #FinancialPlanning #MakingADifference 🎙️💸💡

Get ready for a ride as Scott and Phil dive into the 2 hot topics in finance! 🌡️🎢 In this episode, our dynamic duo shares their unfiltered opinions on the crypto craze, the future of finance, and the ESG investing debate. 💸🌿 Will crypto revolutionise the world, or is it just a flash in the pan? 🪙🔍 Scott and Phil explore the potential of blockchain technology and its impact on everything from property transactions to decentralised finance. 🏠💻 Next up, the duo tackles the burning question on everyone's mind: where are interest rates headed? 📈💸 Brace yourself for some bold predictions (just kidding we are not sure our selves! that probably won't keep you on the edge of your seat! 😮💺 Finally, Scott and Phil dive into the controversial world of ESG investing. 🌍💰 Is it just a box-ticking exercise, or can it make a real difference? Our hosts share their thoughts on the challenges and opportunities of investing with a conscience. 🤔✨ Tune in for an episode packed with laughs, lessons, and a healthy dose of financial wisdom! 🎧😄 Don't forget to like, subscribe, and join the conversation! 👍💬 Disclaimer: The views expressed in this podcast are solely those of the hosts and do not constitute financial advice. Always consult with a qualified professional before making investment decisions. 📝💼

In this episode, we delve deep into what SMSFs are, their benefits, and the challenges they present. Plus, don't miss our expert insights on how to leverage your super for property investment, ensuring a more controlled and potentially lucrative retirement strategy. Whether you're a seasoned investor or just starting, this episode is packed with valuable tips and advice to supercharge your wealth journey. Tune in to navigate the path to financial independence with the WealthLab Podcast 🏠💰🎙️✨."

Dive into Episode 40 of the WealthLab Podcast 🎙️💼 as Phil and Scott unveil our AFSL evolution 🌟🧭. Discover what the Australian Financial Services Licence means for us and, most importantly, for you. No jargon, just clarity on our journey forward. #WealthLabPodcast #AFSLEvolution 🎧

In this exciting WealthLab Podcast Episode 39, Scott Jackson and Phil Sproule take you on a journey through the financial highs and lows of 2023. 🚀 From analysing Australia's economic shifts to dissecting investment trends, this episode is a treasure trove of insights. Scott kicks off with a sharp look at the year's economic overview, examining interest rates and market changes. 🌏 Phil then takes the wheel, sharing compelling personal finance success stories and common financial blunders to avoid. 🛑 The duo wraps up with forward-thinking strategies and predictions for 2024, focusing on staying ahead in a dynamic economic landscape. 🌐 Whether you're fine-tuning your financial plan or just love staying on top of economic trends, this episode is a must-listen! Tune in and equip yourself with the knowledge to navigate the financial waters of 2024 confidently. 🎧💼Explore the podcast

Dive into the world of superannuation drawdowns in this episode 📈. Discover the age requirements for accessing your super, and whether it's a wise choice for your future 💰. Scott breaks down the numbers for a comfortable retirement with an insightful calculation 🧮. Plus, we discuss the potential upsides of keeping your balance invested for long-term growth 🚀. Tune in for valuable financial insights and strategies 📊. #SuperannuationSavvy 🎓 #RetirementReady 🏖️ #WealthLabWisdom 💡 #FinancialFutureFocused 🔮"

Do you really understand the ins and outs of your policies? Scott and Phil break down key terms, shedding light on how these definitions can impact your coverage. Don't miss this eye-opening episode that will empower you to take control of your insurance and ensure you're not getting ripped off. Your financial future could depend on it. Tune in now to gain a better understanding of your insurance policies. Check out our previous episodes, also available on Spotify: https://podcasters.spotify.com/pod/show/wealthlab For more financial wisdom, visit our website: https://wealthlab.com.au You can also reach out to us on social media: Facebook: https://www.facebook.com/wealthlabAU/ LinkedIn: https://au.linkedin.com/company/wealthlab Twitter: https://twitter.com/WealthLabAU Instagram: https://www.instagram.com/WealthLabAU #Insurance #FinancialPlanning #WealthlabPodcast