Maddy and James are both senior, both earning well, and last year they opened a tax bill with six figures on it and no idea how they were going to pay it.
The problem was never income. It was employer equity. Every vest built the paper wealth and the tax liability at the same time, and they'd been covering it by selling shares and draining savings, three times over. Then they upgraded the house, sold more stock to fund the stamp duty, and the cycle got worse.
This is how they got out of what they call tax jail, and what changed once they did. Twelve months on they're comfortably up six figures, they've got pre-approval on an investment property, an ETF portfolio, and they're talking to architects about the renovation.
WHAT YOU'LL GET OUT OF IT
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Why a bigger salary and an equity comp plan created a problem instead of solving one
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The trap of selling shares to pay the tax on shares, over and over
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Concentration risk when your income and your portfolio come from the same company
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Why they held every vest for years, and the moment that changed
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Getting burned by a previous adviser, and what they would look for now
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How the budget capital gains changes made them pause an investment property
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Ten years of lost super across four funds, and how it finally got fixed
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Why top few percent earners still end up shuffling money at the end of the month
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Debt recycling, offsets and the strategies they had never heard of
CHAPTERS
00:03 Rapid fire round
07:09 Intro
07:35 Senior, well paid, and still stretched
09:53 The moment the tax bill landed
10:32 How they found out, and the options they weighed
11:35 How they'd been handling it before
12:43 What Sunday night money chats looked like
14:16 The moment they decided to act
15:05 Concentration risk in employer shares
18:00 What it would have cost to keep going
18:58 Getting burned by a previous adviser
21:43 Selling vested shares, then versus now
25:12 What they used to believe about money
27:25 What surprised them about the process
29:47 The decision they now make differently
31:27 What used to keep them up at night
32:43 What's possible now that wasn't 12 months ago
33:29 A refinance in five days
33:59 What's different day to day
36:19 Ten years of lost super, sorted in weeks
37:07 What actually changed about their lifestyle
38:41 Sunday night money chats now
39:39 Why they paused the investment property after the budget
42:11 What Ian said that stuck
44:00 What makes the fees worth paying
45:27 Advice to their 21 year old selves
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This podcast is for education only and doesn't take into account your personal circumstances. It's not financial advice. If you buy a financial product, read the PDS and TMD, and seek advice tailored to your situation. Ben Nash and Pivot Wealth are authorised representatives of Fish Tacos Pty Ltd, ABN 14 649 248 082, AFSL 533055.
