Money Extra

Making your financial decisions and planning easier and clearer

“Money Extra” is a segment in Season 3 of the Baby Boomers Guide to Life in the 21st Century with Lex Marinos and Patricia Amphlett.

Lex and Patricia will discuss a topic related to all things finances, economic security and planning.

A new episode will be added weekly, so you can return here to listen to the segment. 

You can also subscribe on Apple, Spotify or Google Podcasts, or visit the Baby Boomers Guide to Life in the 21st Century website to listen to entire episodes.

This series is proudly supported by the Ecstra Foundation.

The Baby Boomers Guide To Life in the 21st Century Podcast Season 3

Recent episode

E23: Help at home – how much will it cost?

Most of us want to age at home and live as independently as possible. But many people will need varying degrees of assistance to achieve this. So how can we get support at home, and how much will it cost?

Find out from Heidri Brook of the Aged Care Advocacy Network (OPAN).

E1: Divorcing in later life

You might be surprised to know that the fastest growing group of divorcees is people over fifty. An increasing number of people are choosing to divorce at older ages, and this can have significant financial implications.

Listen to find out more.

E2: Retirement - it’s not just about the money

In this episode of Money Extra, financial adviser Marc Bineham urges us to look at retirement from much more than a financial perspective. Emotional and physical aspects are just as important.

Check it out.

E3: Is there a future in cryptocurrencies?

There’s no doubt investing in cryptocurrency is growing in popularity. But before you consider investing in this new form of money, you need to become well informed.

Have a listen.

E4: Cutting the cost of living

We all know prices are going up and up, but how do we make our dollars go further in these inflationary times. Liam Kennedy from the consumer organisation Choice has lots of ideas on how to save money.

Find out what they are.

E5: The vital importance of making a will

It’s critically important to make a will, or you are likely to leave a messy situation for your family. It can be expensive, and result in conflict.
The author of Every Woman’s Guide to Retirement, Alice Mantel, provides some advice on this Money Extra episode.

Find out more.

E6: More on the Downsizer Benefit

In this episode of Money Extra, we’ll find out more of the nitty gritty detail of the downsizer benefit where you can use the proceeds of your house sale to boost your super.

Listen in.

E7: Health Insurance: do you need it?

It’s an infernal dilemma – do you need private health insurance? It’s a significant cost, and it usually still leaves a lot of out of pocket expenses for medical services.

In this episode of Money Extra, Jodi Bird from the consumer organisation CHOICE takes you through the basics to help you make the decision. 

Check it out. 

Episode 8: Our Complicated Relationship With Money

Do you find it hard to stick to a budget despite working out your spending on paper? In this episode of Money Extra, financial adviser Marc Bineham explains that we confuse mathematics with emotion when it comes to managing our finances.

Find out more.

E9: Inheritance & the downsizer super contribution

In this episode, elder law specialist Alice Mantel reveals the enormous amounts of money transferred through inheritances and gifts in Australia.

Find out more.

E10: Why we pay tax

You may be surprised to know that in international terms, Australia is a relatively low-taxing country, around 29th of the 38 members of the OECD.

Money and retirement coach Marc Bineham explains that the government has three main sources of tax revenue.

Find out what they are in this episode of Money Extra.

E11: Paying for home care

In this episode of Money Extra, Heidri Brook, a financial advocate with the Older Persons Advocacy Network explains the ins and outs of arranging help to stay at home and the likely costs.

Tune in to find out more.

 

E12: How to Buy Shares

Advice from Rachel Waterhouse from the Australian Shareholders Association is to start small, learn along the way and take a long term view when it comes to buying shares.

Have a listen. 

E13: Elder Financial Abuse

Financial abuse is broadly defined as using someone’s property, finance or other assets illegally or wrongly. Tracey West, lecturer in the Business School at Griffith University, says the problem is largely unreported. It is estimated only thirty percent of victims report financial abuse.

Listen in.

E14: How much income will I need in retirement?

It’s the burning question, how much will I need to have a comfortable retirement? In this episode of Money Extra, veteran financial adviser Noel Whittaker explains there’s no one size fits all answer.

Have a listen.

E15: Creating and reviewing your financial plan

In this episode, Rachel Waterhouse from the Australian Shareholders Association explains that a financial plan gives you a clear idea of where you are headed and how to get there.

Listen up.

E16: Saving money on insurance premiums

Insurance premiums are rapidly rising because of climate change, natural disasters and inflation. But there are ways to save costs says Professor Michael Sherris, an expert on insurance from the University of New South Wales.

Find out what they are in this episode of Money Extra.

E17: Diversity is the key

Marc Bineham finance expert and money coach from the Money Sandwich advises against putting all your resources into just one investment.

Find out why.

E18: Best types of tax for retirees

For retirees some types of tax are better than others according to veteran financial columnist Noel Whittaker, author of Retirement made Simple and many other books.

Find out what’s the best in this episode of Money Extra.

E19: Gambling addiction

In this episode of Money Extra, David Tunnicliffe from Grey Matters highlights the enormity of the losses to gambling in Australia each year, amounting to 2.6 billion dollars annually on pokies alone.

Tune in.

E20: Super Fund Performance

After several years of strong returns, it’s concerning to see relatively poor performance in our super funds over the past year. However, veteran finance writer Noel Whittaker offers some reassurance.

Have a listen.

E21: Capital gains tax when you die

In this episode of Money Extra, the confusing issue of capital gains tax and how it works for your beneficiaries when you die. It can be tricky to understand in what circumstances CGT is payable.

Listen in.

E22: The High Cost of Funerals

Australians want more individualised funeral services, and more of us are moving away from traditional practices around what is called ‘death care’. That’s the finding of a study commissioned by BARE, a new entrant in the funeral industry that offers more personalised and cheaper funeral options.

Find out more.

Your Guide To Aged Care Financing

E2: Navigating Aged Care with Paul Sadler

Paul Sadler has a wealth of experience in aged care and in his long experience, he has witnessed many improvements, notably in the physical quality of accommodation, and the expansion of aged care services.

Listen now.

E8: Understanding home care with Craig Gear

For most of us, maintaining our independence as we age is a top priority. Fortunately, there are services that help us do just that, but understanding what is available, and how to navigate home care is a confusing mystery for many of us.

Find out more.

E13: Choosing & Paying for Residential Aged Care With Craig Gear

In this episode, Paul Gear, Chief Executive Officer from the Older Person’s Advocacy Network explains the basics of residential aged care and some of the improvements underway.

Find out more.

E16: Paying for Aged Care

Rodney Lewis is a pioneer of elder law with more than fifty years experience in the area of wills, guardianship, power of attorney, aged care and all aspects of older people and their human rights. He was drawn to the area of elder care in the 1990s through his wife’s experiences working as a registered nurse in aged care. He realised there was big human rights issue under his nose, but it was swept under the carpet.

Listen in.

E22: Demystifying Costs of Aged Care Homes

Navigating aged care is complex and confusing but there are new sources of free, personalised information. In this episode Justin Bott, Financial Information Officer at Services Australia takes us through a new avenue for assistance.

Find out more.

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