In this powerful episode of the Australian Property Investment Podcast, host Aaron Christie-David sits down with financial adviser, author, and founder of On Your Own Two Feet, Helen Baker. Together, they unpack what it really takes to build long-term financial security in Australia today.

Whether you’re a high-income earner with little to show for it, a parent wanting to help your kids buy property, or someone over 50 worried it’s too late – this conversation delivers clarity, action, and tough love.

Helen shares her five foundational pillars for financial success, why women need to prioritise independence, and the costly mistakes too many Aussies are still making.

Emergency Fund: The Financial Shock Absorber

According to Helen, if you don’t have an emergency buffer, you’re walking a financial tightrope.

Whether it’s a job loss, a car breakdown, or a relationship ending, unexpected life events will happen. And if you’re not prepared, those moments can destroy years of financial progress.

Helen shares real stories –  like a woman who left her partner with only the clothes on her back and had to start from scratch. With no cash buffer, she couldn’t even afford basics like a fridge.

“People think bad things won’t happen to them… until they do. That buffer is the difference between survival and spiralling into debt.”

What to aim for: At least 3-6 months of living expenses, stored in a high-interest savings account or offset account not your everyday transaction account.

Even a few thousand dollars can make a huge difference. It’s not about perfection. It’s about preparation.

Spending & Investment Plan: What Gets Measured Gets Mastered

Helen is a big believer in conscious money management.

She often sees clients earning $150k+ who are still living week-to-week. Why? Because lifestyle inflation keeps creeping in, more takeaways, new cars, school fees, holidays.

The solution? Not just a budget but a spending and investment plan that puts purpose behind every dollar.

She recommends structuring your income like this:

  • Essentials (rent, food, utilities)
  • Investment/saving goals (property, shares, super)
  • Lifestyle (dining, travel, gifts)
  • Unexpected (kids’ excursions, car rego)

Helen also calls out the financial blindspots in many households:

  • Partners not knowing the full picture
  • No plan for income drops (e.g., parental leave)
  • No clear goals beyond “make more money”

“A plan gives you permission to spend, to save, and to say no.”

Insurance: You’re Worth Protecting

Your biggest financial asset isn’t your house,  it’s your ability to earn an income. Without it, nothing else works.

Helen explains how too many people neglect income protection and trauma insurance, assuming they’re either “too young” or “already covered by super”.

The reality? Superannuation policies often have:

  • Limited coverage
  • Exclusions (e.g., mental health, pre-existing injuries)
  • Lapsed premiums if you’re not contributing

One example Helen gives: a self-employed dad who thought his super insurance was enough. When he was diagnosed with cancer, he couldn’t work and couldn’t claim.

“It’s not just about you. If you’ve got kids, a partner, a mortgage, you have people relying on you. Insurance isn’t optional.”

What to review:

  • Income Protection
  • Trauma (Critical Illness)
  • Life Cover
  • TPD (Total and Permanent Disability)

She also urges families to revisit policies annually, especially after major life changes like buying a home or having children.

Superannuation: Your Long-Term Wealth Partner

Helen says super is often the “forgotten investment account” – people contribute automatically, but never review or optimise it.

Yet, for many Australians, it’ll be their largest pool of wealth by retirement.

Common problems Helen sees:

  • Super funds with high fees and poor performance
  • People unaware of how their money is invested
  • Women falling behind due to career breaks or part-time work

She highlights a key risk: changing to an SMSF or different structure can cancel your existing insurance inside your super without you realising.

“Just because your super balance is growing doesn’t mean it’s working hard for you.”

Tips from the episode:

  • Check your fund performance annually (vs industry benchmarks)
  • Understand your risk profile (conservative vs growth)
  • Top up voluntarily if you’ve had time out of the workforce

Super isn’t just for retirement, it’s a tax-effective way to grow wealth and cover yourself for the future.

Estate Planning: The Most Overlooked (But Essential) Step

Let’s be honest, no one likes thinking about death or disability. But Helen is firm: estate planning is non-negotiable.

She’s seen it all, from parents who’ve unintentionally disinherited their kids to people who lost their home because their partner didn’t leave a will.

Key documents every Australian adult should have:

  • A current will
  • Enduring Power of Attorney
  • Guardianship nomination (for parents)

Helen explains how even small things, like listing your super beneficiaries correctly or documenting “gifts” to adult children as loans can have huge legal and tax implications.

One particularly heartbreaking story involved a mum who gave her daughter money for a home deposit, but didn’t document it. After a divorce, half the property went to the ex-son-in-law.

“Without the paperwork, your wishes don’t matter. The law decides.”

Estate planning isn’t just about who gets what – it’s about protecting the people you love, even when you’re no longer around.

Practical Wisdom From the Episode

Throughout the conversation, Helen offers up other sharp, practical insights:

  • Job security is fragile. With AI, layoffs, and rising stress, many people are only one shock away from a financial crisis.
  • You don’t need a partner to build wealth. Plenty of singles thrive with the right plan including Helen’s own clients.
  • Property isn’t always the first move. Sometimes the smartest thing is to build a strong foundation first, then invest.

And perhaps most importantly – you don’t have to do it alone.

Next Steps: Start With One Pillar

If you’re overwhelmed, Helen’s advice is simple: pick one foundation and take action this week.

✅ Set up a savings buffer
✅ Review your spending habits
✅ Compare your insurance policies
✅ Look at your super statement
✅ Book in to get your will done

Start small. Start smart. But start now.

Not sure where to begin? Want a second opinion on your financial setup?

👉 Click here to book a free strategy call with our team

And don’t forget to tune in to the full episode of the Australian Property Investment Podcast for more insights from Helen Baker and other leading voices in finance, property, and investing.