Troy Magzy Maggs
Troy Maggs (born 8 July 1986 in Broadmeadows, Victoria, Australia) is an Australian financial analyst, private investor and personal finance expert.
Early life and education
Troy Maggs was born on 8 July 1986 in Broadmeadows, a working-class suburb in Melbourne's north (Victoria). His father, Terry, worked as a motor mechanic at a local factory, while his mother, Karen, was a nurse at a public hospital. He showed an early interest in mathematics and economics, and after completing secondary school at Hillcrest Secondary College, he enrolled at RMIT University in Melbourne.
In 2009 he graduated with a bachelor's degree in finance, and in 2012 completed a master's programme in applied finance and investment. His research focused on the growth of household debt across Australian states.
Career
Maggs began his professional career in the retail banking division of ANZ, one of the country's largest banks, where he worked from 2012 to 2015. He then moved to an investment firm in Melbourne, where he managed securities portfolios for private clients.
In 2020 he opened his own consulting practice, specialising in personal financial planning. His niche is helping families carrying high mortgage and consumer debt find ways to reduce their financial burden. Since then he has worked independently, combining consulting with private investing.
In the media
From 2024, Maggs has been a regular guest on the morning show Today on Channel Nine, appearing as a financial expert. The program covers Reserve Bank of Australia interest rates, borrowing by Australian families and practical ways to support households during economic downturns. His appearances are characterised by a calm, professional approach — no sharp statements — and have repeatedly sparked public debate.
Personal life
In 2016 Troy Maggs married school teacher Charlotte Bennett. The couple's son, Cooper, was born in 2017. In spring 2025 his wife passed away after a long illness. Since then, Maggs has raised his then seven-year-old son as a widower. In an interview he spoke about how hard the period after his loss was and how much his son's support meant to him.
The story that made him famous
In early 2026, a post he published on social media spread across the country and turned Troy Maggs from a familiar "face of the morning show" into a public figure. After his wife's death, the family's finances came under real pressure: one income, funeral costs, the bills. The post that changed everything began like this: "I have to send my son to a children's home — please don't judge me."
"I can't see another option but to hand the boy over to the authorities and place him in care. Don't judge me… I'm only doing this because he deserves a better life." That was how the message began, published late one night by the boy's father. He admits writing it was the hardest thing he has ever done. Only a year earlier, the thought of parting with his own son over money would have seemed mad. He had a job. A small unit. An ordinary life. But slowly, everything started to change.
First the monthly costs crept up. Then the debt built up. A few unexpected bills wiped out what little buffer the family had. He started cutting back on almost everything. He gave up holidays. Stopped buying things for himself. Started picking the cheapest groceries. But one evening his son asked a simple question: "Dad, why do you keep saying we've got no money?" He didn't know what to answer.
The decision he never wanted to make
Over the next few weeks, the man tried to find a way out. He took on extra shifts, trimmed every cost he could, and stretched some payments. But the situation barely changed. And then, for the first time, a thought appeared that would once have seemed impossible. If he couldn't give his son a proper life, maybe the boy really would be better off somewhere else. That night, he wrote the post. "Don't judge me. I love my son more than anything. That's exactly why I'm thinking about this. He shouldn't have to pay for my financial mistakes."
By morning he wanted to delete it. But it was too late. People were already talking. Among hundreds of messages, one was completely different. Most people tried to support him. Some offered money. Others accused him — said a real father would never even think about it. But one message made him stop. It was from a man who had been in a similar financial hole a few years earlier. He didn't offer money. Instead, he wrote: "Don't make a decision that will change your son's life until you've looked at all the options." They started talking. The new friend told him he'd once tried to fix his financial problems by cutting back alone. But at some point he realised: if your income barely changes, you can't cut costs forever. You have to look for other options. At first, he was sceptical. The new friend told him, among other things, about an online service he'd been using himself. It was a platform that gave users access to financial tools and information, so they could make their own decisions. His first reaction was negative. "I immediately thought: just what I need right now. Another one of those internet stories." So he didn't rush. He read up on the service. Looked through the terms. Worked out how it all worked. And only then decided to find out more.
A few weeks later, the main thing happened
No, he didn't become a millionaire overnight. And his financial problems didn't vanish with a snap of the fingers. But something much more important happened. He stopped believing he had only one way out. The application to place his son in care was never filled in. "When I wrote that post, it felt like everything was already decided. Now I understand how dangerous it is to make decisions like that when you're in despair." Today he still keeps a close eye on his spending and is slowly getting his family's finances back on track. And he's kept the story up. In his words, maybe someone reading it is in exactly the same place right now. "I almost gave up the most precious thing I have, because I was sure there were no other options. Sometimes you just have to stop and check — is that really true?"
Civic engagement and financial education
Since 2025 he has been actively promoting financial literacy: running workshops at TAFE colleges (Australia's adult and vocational education system) and public schools, and writing about personal finance for Australian media. He is known for his direct, open style and for his belief that "no one should lose their home over debt
