“Financial Independence Means Freedom To Choose”


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Following a divorce in her 40s, and with two sons to care for, Jo Runciman needed to sort out her finances. The managing director of Australian Geographic Holdings reveals how her perspective on work-life balance changed as a result.


Describe your relationship with money Financial security is very important to me. Thankfully my parents instilled in me a hard work ethic, and I’ve always been happy to work hard to make money, but it’s not about the money. It has always been about what it allows me to do. To me, it’s the balance between hard work and having the time and freedom to do what you love. When I was younger it was about travel, clothes and socialising; now it is about giving my boys opportunity, experiences, travel and having the freedom to indulge in the things I love.

Describe a difficult financial moment and how you managed that A separation in my mid-40s was a big re-set, particularly the pressure of having to be solely financially responsible for my boys. It was a great lesson in perspective and taught me a lot about what was really important. But before that, becoming a mother and having the pressure to return to work early is something I look back on with a bit of regret. I think the time at home probably was worth more than the lean financial months. I always say to the young women I work with now, take the time and enjoy it as you have the rest of your life to work.

Are you financially better or worse off now than you were a decade ago? Well, throwing a divorce into the mix in that decade was a setback. I have made good headway into re-establishing a decent financial base, but I won’t be retiring any time soon! I’m lucky to love what I do for work, so I’m okay with that.

If you were in charge of our national finances, where would you invest? Renewable resources and the development of a sustainable future plan for our country that protects it and our people.

What is the biggest financial win you’ve have had in your life? Property has never failed me. Although you have to wait to achieve capital gains, it has been worth it and the security of always having somewhere to live is the added bonus.

What’s your greatest financial regret? Probably not buying more property early.

How would you address the gender pay gap if the decision sat with you? Legislation and regulation work to an extent but it is about empowering women to expect and ask for what they are worth in the workplace. More transparency around pay levels is also important. 

What worries you most about your financial future? Paying my mortgage off. I love where I live and don’t really want to have to move when I retire.  

If you won Lotto, would you spend or invest it? A bit of both. I would donate to some charities that drive legislative change around the things that I am passionate about. I’d travel, do fun things with friends and family and buy a big chunk of nature somewhere that I can look after.

What does financial independence mean to you? Freedom to choose – where I live, how I live, how I spend my time. I’m incredibly grateful and proud to have been financially independent through all my life’s ups and downs.


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Interview with Jo Runciman by Marina Go
Photo_ Supplied

Marina Go

is part of the Tonic team

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