Reece Edwards' Surprising Money Mindset: Why He's Not Chasing Stocks

It's Pay Day! That glorious day when money enters our lives like an unexpected guest who forgets to bring a bottle of wine. The ABC is here with a new column, asking Australians the money questions we typically prefer to sweep under the rug. Our mission? To take the mystery out of personal finance—because let’s face it, it’s high time we talked about what we earn and how we spend it.

Meet Reece Edwards, an elite runner and physiotherapist with a work ethic that would put a caffeinated squirrel to shame. Last year, after a spectacular sprint that left two Olympians in the dust, he crossed the finish line of the 2023 Melbourne Marathon in a jaw-dropping time of 2:14:34. You might think that after such an exhilarating victory, he’d indulge in a well-deserved nap or perhaps a celebratory slice of cake, but no; instead, he laced up his shoes and went back to the healthcare grind the very next day. Typical runner, right?

What sets Reece apart isn't just his speed but his approach to life—a philosophy full of dreams, travel, and a rather comfortable view of his bank account. You see, Reece doesn’t subscribe to the usual benchmarks of success, like building a property portfolio. Instead, he prioritizes life achievements, such as running across exotic landscapes and exploring the world. And honestly, who can blame him? Running can be therapeutic, but owning a property can feel like a never-ending game of Monopoly.

“I earn almost exactly the average yearly salary in Australia,” Reece reveals nonchalantly, managing to sound both relatable and enigmatic at the same time. No credit cards cluttering his wallet, no excessive spending on the latest gadgets—he and his wife seem to be living in a delightful middle-class utopia. Of course, that doesn’t mean they’re draconian with their finances. They indulge when necessary but aren’t out buying the newest sports car every year. The practicality is almost refreshing.

“Both of my parents worked at NAB, so money talk was a staple in our household,” Reece recounts. This upbringing instilled in him a sense of saving that has served him well; he was earning at 14, saving until 17, and eventually splurged on a shiny new carbon road bike instead of the typical teenage trinkets. After all, a bike opens up a whole new realm of sprinting adventures—who needs a fad, when you can have freedom?

Yet, here’s where it gets interesting. Reece has a mortgage, like most adults, but he describes it with a casual indifference, as if it’s just another milestone in his running career. About 70% of his income goes to various payments, but he doesn’t seem perturbed—unlike a toddler facing their first broccoli. He sees all this as an opportunity for greater things rather than a ‘financial disaster.’ “I might never have traveled or lived overseas if I’d plunged into a mortgage at 19. And frankly, I wouldn’t trade those experiences for anything, not even a winning lottery ticket,” he muses, with the kind of wisdom only a runner who’s tackled a few marathons could possess.

Now, let’s talk about lunch. Reece has a weekly habit of enjoying a Banh Mi on Wednesdays. An intriguing character trait, to be certain. “Let’s not even get started on how I may have exaggerated the cost of my running shoes to my wife. But honestly, a $1.90 baguette? That can magically transform into three or four gourmet sandwiches—it’s practically a culinary marvel,” he jokes. Let’s be real: life is all about those little victories, right?

Reece manages his finances through four accounts—impressively organized, may I say? A spending account for daily life, a small savings for emergencies, a hefty savings account with a dazzling 5.2% interest, and of course, an offset account linked to his mortgage. It’s like watching a magician pull off an impressive trick—how did he do that?

In a world where financial crises loom large, Reece seems blissfully untouched. He spends and borrows within his means, savoring the experience of living without the daily anxiety money can often bring. His philosophy? Save when it makes sense, but don’t restrict life’s pleasures because of financial worries. This is not your average take on fiscal responsibility, but nothing about Reece screams average.

As he boldly states, “Travel when you’re young, not when you retire. I’ve got marathons to run and mountains to climb, not tour buses.” It’s a refreshing approach, not to mention one that inspires a certain wanderlust that many of us have long since buried beneath bills and responsibilities.

In the end, it seems Reece Edwards isn’t just running a marathon; he’s running a thoughtful life, taking the time to reflect on what truly matters. Life is about experiences, after all, and if you can manage to squeeze in some financial intelligence along the way, then maybe—just maybe—you can have your baguette and eat it too.