1 00:00:00,160 --> 00:00:03,440 Speaker 1: Good morning everyone, and welcome back to Sugar Mama's Fireplay. 2 00:00:03,480 --> 00:00:06,520 Speaker 1: I am your host financial planner, and today in the 3 00:00:06,559 --> 00:00:10,600 Speaker 1: studio we actually have three brains working for you. We 4 00:00:10,680 --> 00:00:14,840 Speaker 1: have Richard Nichols, financial planner from Blue Lanton, and his 5 00:00:14,960 --> 00:00:18,239 Speaker 1: colleague who we all know and love, our number one 6 00:00:18,320 --> 00:00:22,920 Speaker 1: mortgage broker, Adam mckabe from Blue Lantern as well. Now 7 00:00:23,000 --> 00:00:25,919 Speaker 1: today we're going to be talking about and unpacking for 8 00:00:25,960 --> 00:00:30,960 Speaker 1: you the First Home Super Savor Scheme which was designed 9 00:00:30,960 --> 00:00:35,560 Speaker 1: to help young Australians build up a deposit via their 10 00:00:35,560 --> 00:00:40,600 Speaker 1: superannuation to help afford property. That is, get together that 11 00:00:41,159 --> 00:00:44,440 Speaker 1: very important deposit. Now, there are a lot of things 12 00:00:44,479 --> 00:00:48,680 Speaker 1: to know, understand and do for this First Home Super 13 00:00:48,800 --> 00:00:50,839 Speaker 1: Saver Scheme and some of these things you may have 14 00:00:50,840 --> 00:00:53,440 Speaker 1: not heard of before. So we're going to be unpack 15 00:00:53,479 --> 00:01:07,200 Speaker 1: it here right now for you. Richard and Adam, thank 16 00:01:07,200 --> 00:01:10,240 Speaker 1: you so much for coming in today. Now we all 17 00:01:10,280 --> 00:01:13,560 Speaker 1: know that the First Home Super savest schemes, just a 18 00:01:13,600 --> 00:01:17,319 Speaker 1: bit of a mouthful, is designed to help Australians get 19 00:01:17,400 --> 00:01:19,840 Speaker 1: together their deposit, which for a lot of people is 20 00:01:19,920 --> 00:01:24,039 Speaker 1: really hard. You know, there's so many distractions, so many temptations. 21 00:01:24,600 --> 00:01:27,960 Speaker 1: Can you explain to everyone how this works and how 22 00:01:27,959 --> 00:01:32,000 Speaker 1: it can help people have that deposit ready to go 23 00:01:32,080 --> 00:01:33,839 Speaker 1: to get their foot in the door at the property market. 24 00:01:34,160 --> 00:01:36,280 Speaker 1: Obviously for first home owners. 25 00:01:37,080 --> 00:01:41,520 Speaker 2: In simple terms count it's designed to help people save 26 00:01:42,600 --> 00:01:45,840 Speaker 2: I think from early days. So you're looking at, you know, 27 00:01:46,080 --> 00:01:48,040 Speaker 2: if you've got aspirations to buy a property and your 28 00:01:48,080 --> 00:01:50,240 Speaker 2: savings are low, this is a way that helps you 29 00:01:50,280 --> 00:01:52,280 Speaker 2: get ahead from the normal means where it's just a 30 00:01:52,360 --> 00:01:55,280 Speaker 2: high interest account at the moment. High interest accounts to 31 00:01:55,320 --> 00:01:57,920 Speaker 2: say four to five percent, which isn't a lot. So 32 00:01:57,960 --> 00:02:00,800 Speaker 2: it gives you the opportunity to contribute up to fifteen 33 00:02:00,880 --> 00:02:04,840 Speaker 2: thousand per year and then withdraw up to fifty thousand 34 00:02:05,360 --> 00:02:07,440 Speaker 2: over a five year period for that first time. 35 00:02:07,880 --> 00:02:10,040 Speaker 1: So this is definitely not for people who need to 36 00:02:10,040 --> 00:02:12,560 Speaker 1: buy it buy a property in the next six months. 37 00:02:12,560 --> 00:02:16,280 Speaker 1: This is something you particularly for someone maybe that's a student, 38 00:02:16,600 --> 00:02:19,640 Speaker 1: you know, maybe doing tertial education and thinks, okay, well, 39 00:02:19,680 --> 00:02:22,000 Speaker 1: when I do get graduate and I get a job 40 00:02:22,040 --> 00:02:24,160 Speaker 1: and you know, I've had a full time job and 41 00:02:24,200 --> 00:02:26,920 Speaker 1: a salary for a couple of years, there potentially my 42 00:02:27,040 --> 00:02:28,400 Speaker 1: deposit could come from this. 43 00:02:28,680 --> 00:02:32,080 Speaker 3: If it's still a mail that's right, and perhaps you know, 44 00:02:32,120 --> 00:02:36,200 Speaker 3: there might be circumstances where if it's timed in terms 45 00:02:36,200 --> 00:02:38,560 Speaker 3: of a taxi where you could put a large amount 46 00:02:38,560 --> 00:02:40,960 Speaker 3: in and get a small benefit from tax savings. 47 00:02:40,520 --> 00:02:43,240 Speaker 2: In doing it. But primarily it's designed for that longer 48 00:02:43,320 --> 00:02:46,760 Speaker 2: term strategy which is allowing you to also withdraw the 49 00:02:46,840 --> 00:02:49,560 Speaker 2: earnings from that associated super contribution. 50 00:02:50,280 --> 00:02:52,119 Speaker 1: So for any of the listeners out there who have, 51 00:02:52,240 --> 00:02:55,840 Speaker 1: you know, teenage children, this is something you know you 52 00:02:55,840 --> 00:02:57,560 Speaker 1: should be talking to your kids about. Is it a 53 00:02:57,560 --> 00:02:59,400 Speaker 1: potential option to be able to get your foot in 54 00:02:59,480 --> 00:03:01,440 Speaker 1: the door, particularly if they know about it now and 55 00:03:01,480 --> 00:03:03,160 Speaker 1: they can start sort of planning preparing. 56 00:03:03,440 --> 00:03:08,600 Speaker 2: Definitely, particularly if we're looking at the average super returns, 57 00:03:08,880 --> 00:03:13,519 Speaker 2: you know it's probably probably double your potential return through 58 00:03:13,600 --> 00:03:14,359 Speaker 2: general banks saving. 59 00:03:14,480 --> 00:03:16,120 Speaker 1: Yeah, and obviously we've got to keep in mind, you know, 60 00:03:16,360 --> 00:03:19,560 Speaker 1: marcut volatility and you know, depending obviously, and how that 61 00:03:19,680 --> 00:03:22,919 Speaker 1: superinhuation money is actually invested is also incredibly important. You 62 00:03:23,120 --> 00:03:26,280 Speaker 1: will come to with Richard in a moment. Who is 63 00:03:26,440 --> 00:03:27,799 Speaker 1: eligible for this. 64 00:03:28,919 --> 00:03:31,639 Speaker 2: The eligibility is really open, so as long as you're 65 00:03:31,680 --> 00:03:34,320 Speaker 2: eighteen years of age, you don't need to be Australia 66 00:03:34,360 --> 00:03:40,920 Speaker 2: resident or citizen. First home buyer. It's a really open scheme. 67 00:03:41,880 --> 00:03:43,720 Speaker 1: Single parents who've never bought before. 68 00:03:45,000 --> 00:03:45,280 Speaker 2: Wow. 69 00:03:45,360 --> 00:03:48,160 Speaker 1: Okay, so it really does start to open up, you know, 70 00:03:48,920 --> 00:03:50,680 Speaker 1: opportunities for a lot of people that may have had 71 00:03:50,680 --> 00:03:53,760 Speaker 1: that sort of block there previously. What would you say 72 00:03:53,760 --> 00:03:58,080 Speaker 1: there are any misconceptions around around this, probably. 73 00:03:57,800 --> 00:04:00,920 Speaker 2: Around the tax side of it. You know that it's 74 00:04:01,000 --> 00:04:05,040 Speaker 2: full fully tax exempt, which isn't the case, you know, 75 00:04:05,360 --> 00:04:07,600 Speaker 2: and you know you really should speak to your accountant 76 00:04:07,760 --> 00:04:09,320 Speaker 2: around advice in that regard, and. 77 00:04:09,240 --> 00:04:11,560 Speaker 1: Always get advice before you make the delisions because you 78 00:04:11,560 --> 00:04:13,440 Speaker 1: don't want to sort of have any regret. 79 00:04:13,680 --> 00:04:16,520 Speaker 2: No, absolutely, and particularly if you're looking at calculating what 80 00:04:16,560 --> 00:04:18,760 Speaker 2: you'll be able to withdraw at the time of buying, 81 00:04:19,520 --> 00:04:21,640 Speaker 2: you need to be familiar with with what will come 82 00:04:21,680 --> 00:04:23,760 Speaker 2: out and those tax implications as well. 83 00:04:24,360 --> 00:04:26,760 Speaker 1: All right, for young families that think, okay, this may 84 00:04:26,760 --> 00:04:30,360 Speaker 1: be our hope to be able to secure a property, 85 00:04:31,040 --> 00:04:33,040 Speaker 1: how do they maximize this benefit? 86 00:04:33,920 --> 00:04:36,560 Speaker 2: Well, to maximize it, you probably need to be saving 87 00:04:36,600 --> 00:04:38,320 Speaker 2: for a longer period of time, So start as soon 88 00:04:38,360 --> 00:04:42,840 Speaker 2: as you can, Okay, get those contributions going in and 89 00:04:42,920 --> 00:04:45,120 Speaker 2: as we said, be familiar with what investment that is 90 00:04:45,160 --> 00:04:47,240 Speaker 2: going into within your super fund, So speak to your 91 00:04:47,279 --> 00:04:52,680 Speaker 2: superphone and look at you know, minimizing the risk I 92 00:04:52,680 --> 00:04:56,280 Speaker 2: guess of the asset classets in. At that point, you're 93 00:04:56,320 --> 00:04:58,120 Speaker 2: doing as much as you can. The longer you're doing it, 94 00:04:58,200 --> 00:05:00,760 Speaker 2: maximizing how much you can put in and take cout. 95 00:05:01,279 --> 00:05:04,320 Speaker 2: You're getting some tax savings on the way and hopefully 96 00:05:04,360 --> 00:05:06,840 Speaker 2: a much higher return than what you're getting within a 97 00:05:07,040 --> 00:05:08,839 Speaker 2: normal bank or turn deposit account. 98 00:05:09,839 --> 00:05:12,480 Speaker 1: Can a couple or say a family, you know, we've 99 00:05:12,520 --> 00:05:15,640 Speaker 1: got two working adults that are both never earned owned 100 00:05:15,680 --> 00:05:20,040 Speaker 1: property before. Can they each use their superannuation schemists system 101 00:05:20,040 --> 00:05:21,239 Speaker 1: and a combine their deposit. 102 00:05:21,400 --> 00:05:24,840 Speaker 2: Yes, absolutely, And that's that's particularly from my experience, what 103 00:05:24,920 --> 00:05:27,520 Speaker 2: I've what I've been doing with kinds of mind that 104 00:05:27,560 --> 00:05:30,599 Speaker 2: have taken advantage of this scheme. They've both contributed the 105 00:05:30,600 --> 00:05:33,320 Speaker 2: same amounts well, depending on you know, if we're talking broadly, 106 00:05:33,560 --> 00:05:37,479 Speaker 2: depending on the income levels of each family member. But 107 00:05:37,960 --> 00:05:39,919 Speaker 2: if you're on an equal income and you can contribute 108 00:05:39,920 --> 00:05:42,599 Speaker 2: the same amount, then then ideally come the end of 109 00:05:42,640 --> 00:05:45,680 Speaker 2: that stage, you both contributed the maximum and withdrawing the 110 00:05:45,720 --> 00:05:46,920 Speaker 2: maximum for that purchase. 111 00:05:47,800 --> 00:05:50,640 Speaker 1: Richard, I'm interested to know your thoughts of this because 112 00:05:50,640 --> 00:05:54,159 Speaker 1: when this first came out, I was really concerned that 113 00:05:54,240 --> 00:05:57,120 Speaker 1: people would then start use their superannuation money, which is 114 00:05:57,160 --> 00:05:58,880 Speaker 1: something really I see is something and being like a 115 00:05:58,880 --> 00:06:01,200 Speaker 1: bit of a treasure chest that's long away and take 116 00:06:01,279 --> 00:06:06,280 Speaker 1: you away from distruction and temptation and reckless spending and 117 00:06:06,680 --> 00:06:09,719 Speaker 1: really sort of changing people's mindset. What are your thoughts 118 00:06:09,760 --> 00:06:11,120 Speaker 1: when you saw this come in? 119 00:06:12,200 --> 00:06:16,320 Speaker 4: Similar concerns, But I think with this really you must 120 00:06:16,360 --> 00:06:19,479 Speaker 4: remember that these are contributions that probably wouldn't have been 121 00:06:19,520 --> 00:06:22,640 Speaker 4: made to start with. You know, people are putting in 122 00:06:22,680 --> 00:06:26,440 Speaker 4: the fifteen thousand with the object of withdrawing for a 123 00:06:26,480 --> 00:06:29,680 Speaker 4: property deposit, so it's not really taking away from their 124 00:06:29,720 --> 00:06:32,080 Speaker 4: retirement assets because this money wouldn't have gone in in 125 00:06:32,120 --> 00:06:35,200 Speaker 4: the first place. Yeah, you know, if they are concerned 126 00:06:35,200 --> 00:06:38,720 Speaker 4: about marketing volatility, most super funds will have a defensive 127 00:06:38,760 --> 00:06:40,960 Speaker 4: option that they could place this money. 128 00:06:40,680 --> 00:06:44,960 Speaker 1: In, and they're normally you know, assets such as cash 129 00:06:45,000 --> 00:06:49,960 Speaker 1: and fix interest still investments and still have some volatility 130 00:06:49,960 --> 00:06:53,280 Speaker 1: in fluctuations, but less aggressive indeed. 131 00:06:53,400 --> 00:06:58,200 Speaker 4: And also the return while the returns may not be 132 00:06:58,640 --> 00:07:01,479 Speaker 4: hugely different to you would get sitting in a bank account, 133 00:07:01,480 --> 00:07:05,200 Speaker 4: in a defensive asset within super the tax side on 134 00:07:05,240 --> 00:07:07,839 Speaker 4: those earnings would be a lot less because your tax 135 00:07:07,920 --> 00:07:11,560 Speaker 4: on earnings inside a super is fifteen percent, whereas you're 136 00:07:11,560 --> 00:07:14,360 Speaker 4: going to pay your marginal rate, and if you're at 137 00:07:14,360 --> 00:07:16,160 Speaker 4: top marginal and that's forty five percent, you're going to 138 00:07:16,160 --> 00:07:18,880 Speaker 4: pay on any on the same earnings outside of super. 139 00:07:18,920 --> 00:07:22,680 Speaker 4: So you know, a you've got that potential for increase return. 140 00:07:22,720 --> 00:07:25,400 Speaker 4: But be more importantly, you don't pay as much tax 141 00:07:25,440 --> 00:07:26,800 Speaker 4: on the earnings along. 142 00:07:26,480 --> 00:07:28,520 Speaker 1: The way, and I think the average Australian is paying 143 00:07:28,560 --> 00:07:32,160 Speaker 1: about thirty two thirty so instantly there as almost like 144 00:07:32,440 --> 00:07:37,080 Speaker 1: you know, doubling you with your NEPH. Indeed, all right, 145 00:07:37,120 --> 00:07:39,720 Speaker 1: there are some changes coming up in I believe September 146 00:07:40,120 --> 00:07:43,360 Speaker 1: for the this scheme. Can you just explain what the 147 00:07:43,440 --> 00:07:44,800 Speaker 1: changes are and what we need to be aware of 148 00:07:44,800 --> 00:07:48,280 Speaker 1: if we're contemplating, you know, setting this up and potentially 149 00:07:48,400 --> 00:07:50,760 Speaker 1: using this in five years time. 150 00:07:51,240 --> 00:07:53,920 Speaker 2: The changes are very small, mainly to be able to 151 00:07:53,960 --> 00:07:58,200 Speaker 2: fix errors within the applications and how you contributed those funds. 152 00:07:59,040 --> 00:08:01,480 Speaker 2: And also if you change your mind, you know, sometimes 153 00:08:01,520 --> 00:08:05,040 Speaker 2: your circumstances change and you're no longer in a position 154 00:08:05,120 --> 00:08:08,520 Speaker 2: to buy, and that that could be a considerable time away. 155 00:08:08,840 --> 00:08:10,680 Speaker 2: So then there are options to withdraw all that money 156 00:08:10,720 --> 00:08:11,360 Speaker 2: back out. 157 00:08:11,560 --> 00:08:13,640 Speaker 1: So what happens, for example, you know, say I want 158 00:08:13,640 --> 00:08:15,440 Speaker 1: to do this as the first time, and I set 159 00:08:15,440 --> 00:08:18,280 Speaker 1: it up and I'm contributing to it. Then say I 160 00:08:18,320 --> 00:08:20,520 Speaker 1: win the lottery, you know, and I can now buy 161 00:08:21,240 --> 00:08:24,360 Speaker 1: you know, I have a deposit now that money though, 162 00:08:24,560 --> 00:08:26,120 Speaker 1: I can still potentially get it out. 163 00:08:26,240 --> 00:08:28,840 Speaker 2: But if you win the lottery, you probably don't really care. 164 00:08:28,960 --> 00:08:30,880 Speaker 1: Well, it depends not much, I m of course, mostly. 165 00:08:30,920 --> 00:08:32,800 Speaker 1: I mean it might be one hundred thousand, or it 166 00:08:32,880 --> 00:08:34,800 Speaker 1: might be you know, a couple of million dollars, which 167 00:08:34,800 --> 00:08:37,839 Speaker 1: would be great, but you know, because obviously we need 168 00:08:37,880 --> 00:08:41,120 Speaker 1: to be realistic things. You know, situations change, people might 169 00:08:41,160 --> 00:08:44,360 Speaker 1: move overseas. You know that that dream, that goal, you know, 170 00:08:44,640 --> 00:08:47,959 Speaker 1: may pivot. We need to be aware of those things 171 00:08:47,960 --> 00:08:50,480 Speaker 1: that you know, if we've been contributing to it, we 172 00:08:50,559 --> 00:08:52,080 Speaker 1: can't get that money then back out. 173 00:08:52,280 --> 00:08:54,160 Speaker 2: Yeah, so you can get it back out, you can, 174 00:08:54,200 --> 00:08:58,280 Speaker 2: And it's it's essentially the same process for applying for 175 00:08:58,480 --> 00:09:00,800 Speaker 2: the deposit to be returned to you for a purchase. 176 00:09:00,840 --> 00:09:04,760 Speaker 2: So you need to apply for a determination through the ATO, 177 00:09:05,480 --> 00:09:08,360 Speaker 2: the ATO then process that claim after you sorry, after 178 00:09:08,360 --> 00:09:10,760 Speaker 2: you claim it through your super fund. It gets returned 179 00:09:10,800 --> 00:09:13,800 Speaker 2: to an ATO holding account as I understand it, where 180 00:09:13,800 --> 00:09:16,760 Speaker 2: they then process a determination if you're taking it back 181 00:09:16,760 --> 00:09:19,040 Speaker 2: out not to buy a property. That's when they apply 182 00:09:19,080 --> 00:09:20,240 Speaker 2: the marginal tax rates. 183 00:09:20,600 --> 00:09:22,120 Speaker 1: Yes, okay, so this is what I'm saying is you 184 00:09:22,120 --> 00:09:23,880 Speaker 1: know what if I decide, ahually I don't need that, 185 00:09:24,160 --> 00:09:26,240 Speaker 1: you know, money returns up big enough to posit, or 186 00:09:26,240 --> 00:09:28,880 Speaker 1: I'd inherited some money with something because these you know, 187 00:09:28,920 --> 00:09:31,839 Speaker 1: with an aging population of baby boomers, these are things 188 00:09:31,840 --> 00:09:32,880 Speaker 1: that actually. 189 00:09:32,520 --> 00:09:35,120 Speaker 2: Could something happen, And if you didn't need it anymore, 190 00:09:35,200 --> 00:09:36,719 Speaker 2: then it's in the best place it can be in 191 00:09:36,800 --> 00:09:38,319 Speaker 2: your super fund exactly. 192 00:09:39,040 --> 00:09:41,040 Speaker 4: Wouldn't you a mode if you don't need to take 193 00:09:41,040 --> 00:09:41,360 Speaker 4: it out. 194 00:09:41,280 --> 00:09:41,760 Speaker 2: And keep it that? 195 00:09:42,040 --> 00:09:44,520 Speaker 1: Yeah, yeah, it's only going to help, you know, create 196 00:09:44,520 --> 00:09:48,119 Speaker 1: greater financial stability for your long run financial benefit. Absolutely. 197 00:09:48,520 --> 00:09:51,680 Speaker 1: All right. There's all about the rules of the first 198 00:09:51,800 --> 00:09:54,760 Speaker 1: I can't even say, probably the first home owner super 199 00:09:54,800 --> 00:09:57,800 Speaker 1: skate super saber scheme. What are the things you need 200 00:09:57,840 --> 00:09:59,360 Speaker 1: to know when you've got to apply. 201 00:09:59,640 --> 00:10:01,440 Speaker 2: Yes, so you need it needs to be going as 202 00:10:01,480 --> 00:10:05,280 Speaker 2: a voluntary contribution, so your accountant needs to be aware 203 00:10:05,320 --> 00:10:07,080 Speaker 2: of that, and the super and contacts is super fun 204 00:10:07,120 --> 00:10:09,280 Speaker 2: to advise them of the contributions you're making, so that's 205 00:10:09,320 --> 00:10:12,680 Speaker 2: allocated towards the super SAVIS scheme that can be withdrawn 206 00:10:12,760 --> 00:10:14,160 Speaker 2: once your love's a determination. 207 00:10:15,120 --> 00:10:17,679 Speaker 1: Do you think this is something Richard, that someone should 208 00:10:17,679 --> 00:10:20,360 Speaker 1: go and see a financial planner about if they're thinking about. 209 00:10:20,080 --> 00:10:24,520 Speaker 4: Doing Ah, yes they should that or their accountant, either 210 00:10:24,520 --> 00:10:27,440 Speaker 4: one of those would be able to give them the 211 00:10:27,480 --> 00:10:32,280 Speaker 4: information they need to make that determination, or even the 212 00:10:32,400 --> 00:10:33,520 Speaker 4: super fund themselves. 213 00:10:34,120 --> 00:10:35,760 Speaker 1: Well, a lot of super innuation accounts. Now, how this 214 00:10:35,880 --> 00:10:38,079 Speaker 1: general advice has none by like a one one hundred 215 00:10:38,360 --> 00:10:40,600 Speaker 1: now one eight hundred dollar that you can access free advice. 216 00:10:40,640 --> 00:10:43,000 Speaker 1: But also I think you're talking to a financial planner 217 00:10:43,520 --> 00:10:46,320 Speaker 1: just having that meeting of mind, talking about okay, well, 218 00:10:46,320 --> 00:10:48,000 Speaker 1: what are your goals? Why do you want to buy 219 00:10:48,000 --> 00:10:50,120 Speaker 1: a home, what's important to you? Where do you see 220 00:10:50,320 --> 00:10:52,760 Speaker 1: your future? Where do you want to live? You know, 221 00:10:52,920 --> 00:10:55,600 Speaker 1: what's the lifestyle that you want? You know, what where's 222 00:10:55,679 --> 00:10:58,520 Speaker 1: your value system? Having those important conversations may actually uncover 223 00:10:58,600 --> 00:10:59,920 Speaker 1: that maybe property is not what you want to do, 224 00:11:00,080 --> 00:11:02,240 Speaker 1: and in fact you are look at an investment portfolio 225 00:11:02,440 --> 00:11:05,040 Speaker 1: you want to look at focusing more on your superannuation 226 00:11:05,200 --> 00:11:06,920 Speaker 1: so that you have that piece of mind knowing you 227 00:11:06,920 --> 00:11:10,040 Speaker 1: can retire and retire on time and on the you know, 228 00:11:10,120 --> 00:11:12,800 Speaker 1: the income that you want and you know, would you 229 00:11:12,840 --> 00:11:13,360 Speaker 1: agree with that? 230 00:11:13,480 --> 00:11:13,840 Speaker 2: I think so? 231 00:11:13,880 --> 00:11:17,559 Speaker 4: And also where you want to buy, because yeah, if 232 00:11:17,559 --> 00:11:20,600 Speaker 4: there's a couple, yeah you can get a utilize one 233 00:11:20,640 --> 00:11:24,679 Speaker 4: hundred thousand of of that. But if you looking to 234 00:11:24,679 --> 00:11:27,959 Speaker 4: buy in Sydney, one hundred thousands unfortunately doesn't get you. 235 00:11:28,280 --> 00:11:31,160 Speaker 1: Fry it it gets to you, not even a parking spot, 236 00:11:32,960 --> 00:11:35,000 Speaker 1: Adam coming back to you when it comes you know, 237 00:11:35,120 --> 00:11:38,480 Speaker 1: is this something that mortgage brokers do? You know we've 238 00:11:38,520 --> 00:11:40,960 Speaker 1: mentioned about talking to your accountant, talking to your superannuation 239 00:11:41,440 --> 00:11:43,720 Speaker 1: provide obviously to endo your family about you know, what 240 00:11:43,760 --> 00:11:45,839 Speaker 1: your goals are. Do you also need to let the 241 00:11:45,880 --> 00:11:48,480 Speaker 1: mortgage broker that, Okay, my deposit I'm working on is 242 00:11:48,520 --> 00:11:50,360 Speaker 1: going to be funded through you know. 243 00:11:50,960 --> 00:11:52,920 Speaker 2: We really need to be aware of it because the 244 00:11:52,960 --> 00:11:55,839 Speaker 2: process and one of the rules for withdrawing the money 245 00:11:55,880 --> 00:11:58,440 Speaker 2: is that you should do that for the determination before 246 00:11:58,440 --> 00:11:59,800 Speaker 2: signing a properly contract. 247 00:12:00,000 --> 00:12:01,120 Speaker 1: So you've got to be very organizic. 248 00:12:01,120 --> 00:12:01,560 Speaker 3: Line you do. 249 00:12:02,080 --> 00:12:03,840 Speaker 2: If you don't sign a contract, I don't know if 250 00:12:03,880 --> 00:12:06,600 Speaker 2: we can go back in again. I'm not too sure. 251 00:12:07,360 --> 00:12:08,960 Speaker 1: Gosh, that would be hard because whatd have had something 252 00:12:09,000 --> 00:12:13,520 Speaker 1: happens and you the property fell through. It does occasionally happen. 253 00:12:13,679 --> 00:12:15,400 Speaker 4: Weile you go to the auction and you didn't write 254 00:12:15,440 --> 00:12:16,240 Speaker 4: the winning better. 255 00:12:16,240 --> 00:12:18,319 Speaker 1: Yeah, and then you just keep on getting out bit 256 00:12:18,360 --> 00:12:20,320 Speaker 1: all the time over the next twelve months. You know that. 257 00:12:20,360 --> 00:12:21,880 Speaker 1: I mean, and I guess this is one of the 258 00:12:21,920 --> 00:12:25,439 Speaker 1: downsides all this, which you know, hopefully with this new 259 00:12:25,640 --> 00:12:30,320 Speaker 1: legislation coming in September. Allows, that's right, those twenty four Okay, 260 00:12:30,360 --> 00:12:32,480 Speaker 1: well there, we've got twenty four months. But still I mean, 261 00:12:32,960 --> 00:12:35,079 Speaker 1: I mean, I know people who have been looking for you, yeah, yeah. 262 00:12:34,960 --> 00:12:37,440 Speaker 4: To get there because once it's out, if you don't buy, 263 00:12:37,520 --> 00:12:40,959 Speaker 4: then I assume they would then that triggers they tack 264 00:12:41,080 --> 00:12:43,000 Speaker 4: extra tacks in twenty four months or something. 265 00:12:43,520 --> 00:12:45,560 Speaker 1: Gosh, you, I mean, you have to have all your 266 00:12:45,600 --> 00:12:46,320 Speaker 1: ducks lined up. 267 00:12:47,080 --> 00:12:51,040 Speaker 2: You've got twelve months from the determination date for withdrawing it. 268 00:12:51,120 --> 00:12:53,319 Speaker 2: For the purpose of signing a contract and paying a deposit, 269 00:12:53,360 --> 00:12:56,720 Speaker 2: you've got twelve months to use it. Obviously, we understand that, 270 00:12:56,760 --> 00:13:00,960 Speaker 2: particularly if you go into auctions, success rights and bidding 271 00:13:01,040 --> 00:13:04,560 Speaker 2: is relatively low. So you've got twelve months and they 272 00:13:04,559 --> 00:13:07,280 Speaker 2: can give you an extension up to twenty four months, okay, 273 00:13:07,320 --> 00:13:10,160 Speaker 2: which you don't need to apply, so I six, well up, 274 00:13:10,640 --> 00:13:13,800 Speaker 2: no twenty four ok okay. 275 00:13:13,920 --> 00:13:16,240 Speaker 1: Well, I mean that starts to be a lot more relaship. 276 00:13:16,240 --> 00:13:18,040 Speaker 1: But still it's something you want to know because if 277 00:13:18,040 --> 00:13:19,400 Speaker 1: it means okay, you're going to miss out on a 278 00:13:19,400 --> 00:13:22,040 Speaker 1: property by five thousand dollars and you're going to get 279 00:13:22,080 --> 00:13:23,920 Speaker 1: back to square one and you are cutting it fine 280 00:13:24,000 --> 00:13:26,480 Speaker 1: with those deadlines, it's good to know these things. And again, 281 00:13:26,760 --> 00:13:28,199 Speaker 1: I guess that's why you've you've got to speak to 282 00:13:28,200 --> 00:13:30,000 Speaker 1: a mortgage broker. You've got to read the fine print, 283 00:13:30,240 --> 00:13:32,280 Speaker 1: you've got to be organized, you've got to know your numbers, 284 00:13:32,320 --> 00:13:34,600 Speaker 1: your limits as to how you know what you're getting 285 00:13:34,640 --> 00:13:37,160 Speaker 1: back your taxes, and obviously how much you can afford 286 00:13:37,160 --> 00:13:39,800 Speaker 1: to borrow. Do you have any success stories that you 287 00:13:39,880 --> 00:13:41,680 Speaker 1: can share with us as to people who have been 288 00:13:42,880 --> 00:13:45,480 Speaker 1: able to actually finally get a property by using. 289 00:13:45,280 --> 00:13:48,679 Speaker 2: This success stor it? Look, this example was just what 290 00:13:48,720 --> 00:13:52,640 Speaker 2: I think is probably fortunate in time and to circumstances, 291 00:13:52,679 --> 00:13:56,640 Speaker 2: but customers of mine that recently used it using the 292 00:13:56,679 --> 00:14:00,960 Speaker 2: super Saver scheme, not well, we're able to save and 293 00:14:01,040 --> 00:14:04,200 Speaker 2: avoid mortgage insurance. And I think the mortgage insurance it 294 00:14:04,280 --> 00:14:06,319 Speaker 2: was it just got over the line by a few 295 00:14:06,320 --> 00:14:09,079 Speaker 2: thousand dollars. So I'd put that down towards the returns 296 00:14:09,080 --> 00:14:11,360 Speaker 2: that they were getting within the super fund as being 297 00:14:12,360 --> 00:14:14,520 Speaker 2: you know, the returns were then super fund were more 298 00:14:14,559 --> 00:14:17,160 Speaker 2: than what they get outside of it, and that small difference. 299 00:14:17,240 --> 00:14:19,520 Speaker 2: Probably want to help them avoid mortgage insurance. 300 00:14:19,120 --> 00:14:19,480 Speaker 3: In the end. 301 00:14:19,720 --> 00:14:22,760 Speaker 1: And how much whether that mortgage insurance costs them if 302 00:14:22,760 --> 00:14:26,720 Speaker 1: they didn't have this intended that's huge. That's a that's 303 00:14:26,760 --> 00:14:28,760 Speaker 1: a great win. And you know what, I really believe 304 00:14:28,800 --> 00:14:32,520 Speaker 1: you make your own luck. You know, it's that's this 305 00:14:32,600 --> 00:14:34,280 Speaker 1: is why you need to be informed and you need 306 00:14:34,320 --> 00:14:35,760 Speaker 1: to know about this as an option if you're trying 307 00:14:35,800 --> 00:14:36,400 Speaker 1: to eat it within the. 308 00:14:36,400 --> 00:14:37,960 Speaker 2: Door preparation research. 309 00:14:38,720 --> 00:14:41,520 Speaker 1: Yeah, and you know, you know it is fifteen thousand 310 00:14:41,560 --> 00:14:43,640 Speaker 1: dollars a year. It is a lot of money to 311 00:14:43,640 --> 00:14:45,440 Speaker 1: take out of your cash. But if you're you know, 312 00:14:45,520 --> 00:14:48,320 Speaker 1: the discipline of it is, you can't spend it. You 313 00:14:48,320 --> 00:14:50,680 Speaker 1: can't see something online and just get distracted and go 314 00:14:50,720 --> 00:14:53,120 Speaker 1: blow it on a new television or a handbag or 315 00:14:53,480 --> 00:14:55,960 Speaker 1: you know, a trip to Europe. It's in there. They're 316 00:14:56,000 --> 00:14:58,280 Speaker 1: holding it and taking away that temptation for you, which 317 00:14:58,280 --> 00:15:00,720 Speaker 1: for a lot of people is needed. 318 00:15:01,040 --> 00:15:05,160 Speaker 4: That's right, But also that fifteen thousand, it's a deductible contribution, 319 00:15:05,280 --> 00:15:08,360 Speaker 4: so you're not you're not impacting your cash blow by 320 00:15:08,360 --> 00:15:11,480 Speaker 4: fifteen thousand exactly, depending on your marginal rate. You know, 321 00:15:11,480 --> 00:15:13,840 Speaker 4: if your top marginal or that might only impact your 322 00:15:13,920 --> 00:15:16,640 Speaker 4: cash flow by seven and a half to eight nine thousand, 323 00:15:16,720 --> 00:15:20,320 Speaker 4: So it's not as bad as one would first think 324 00:15:20,640 --> 00:15:21,920 Speaker 4: making that extra conjolution. 325 00:15:22,920 --> 00:15:26,040 Speaker 1: Richard, what would you say from a financial planner's point 326 00:15:26,040 --> 00:15:29,440 Speaker 1: of view with this? You know, you know people to 327 00:15:29,440 --> 00:15:31,640 Speaker 1: think about. Obviously, we've touched on the importance of making 328 00:15:31,640 --> 00:15:34,520 Speaker 1: sure that that money's invested with a five year investment 329 00:15:34,520 --> 00:15:37,400 Speaker 1: in time horizon. So you wouldn't recommend someone who's doing 330 00:15:37,400 --> 00:15:40,600 Speaker 1: this put all their money into the shares and property 331 00:15:40,600 --> 00:15:44,320 Speaker 1: allocation within their superannuation. You know, talked about those conservative 332 00:15:44,360 --> 00:15:48,040 Speaker 1: asset classes as potentially being wiser because we do need 333 00:15:48,040 --> 00:15:50,440 Speaker 1: to pull that money out. What other things do you 334 00:15:50,520 --> 00:15:53,760 Speaker 1: see as important to consider as part of this. 335 00:15:54,160 --> 00:15:56,640 Speaker 4: First of all, making sure you can comfortably make that 336 00:15:56,680 --> 00:16:01,880 Speaker 4: contribution without it impacting your lifestyle and you've touched on 337 00:16:02,400 --> 00:16:03,880 Speaker 4: you want to make sure that you're not in the 338 00:16:04,200 --> 00:16:07,200 Speaker 4: too aggressive fund for those moneys because most super funds, 339 00:16:07,200 --> 00:16:09,640 Speaker 4: you'll be able to allocate that money going into a 340 00:16:09,640 --> 00:16:11,680 Speaker 4: specific fund. It doesn't have to go into your default 341 00:16:11,720 --> 00:16:16,280 Speaker 4: mix probably be seventy percent allocation to equity markets. So 342 00:16:16,560 --> 00:16:18,040 Speaker 4: I think that's the main thing you want to make 343 00:16:18,080 --> 00:16:19,960 Speaker 4: sure of, is that say you that that money is 344 00:16:20,360 --> 00:16:22,320 Speaker 4: not going to impact or the lack of that money 345 00:16:22,320 --> 00:16:24,600 Speaker 4: going into super is not going to be impacting your 346 00:16:24,600 --> 00:16:28,280 Speaker 4: cash flavor. And then yesb that you've got it invested 347 00:16:28,320 --> 00:16:31,480 Speaker 4: in an an appropriate asset for the timeframe you've got 348 00:16:31,480 --> 00:16:34,400 Speaker 4: because five years isn't a great deal of time in 349 00:16:34,440 --> 00:16:35,600 Speaker 4: an investment lifetime. 350 00:16:35,800 --> 00:16:37,640 Speaker 1: And the other thing I have to say is, you know, 351 00:16:37,640 --> 00:16:39,640 Speaker 1: if anyone that wants to do this, don't just look 352 00:16:39,640 --> 00:16:42,080 Speaker 1: at this as purely your deposit, like try and save 353 00:16:42,240 --> 00:16:46,000 Speaker 1: separately elsewhere if you can, because you do need to 354 00:16:46,040 --> 00:16:48,200 Speaker 1: have that discipline. You do need to learn how to 355 00:16:48,200 --> 00:16:50,200 Speaker 1: stick to a budget. You do need to learn how 356 00:16:50,520 --> 00:16:52,760 Speaker 1: you know to say no to buying something or splurging 357 00:16:52,840 --> 00:16:55,080 Speaker 1: on something because you've got this big responsibility and this 358 00:16:55,120 --> 00:16:58,120 Speaker 1: big goal that you're working towards, So don't just rely 359 00:16:58,280 --> 00:17:01,120 Speaker 1: these or deposit being purely bus have a separate savings 360 00:17:01,160 --> 00:17:03,840 Speaker 1: account nickname it, you know, my deposit money, and try 361 00:17:04,560 --> 00:17:06,960 Speaker 1: if you can. We know, as you said, within your budget, 362 00:17:07,320 --> 00:17:09,560 Speaker 1: you know, have a regular saving plan towards that, so 363 00:17:09,640 --> 00:17:11,879 Speaker 1: that you do have a cash too as well as 364 00:17:11,920 --> 00:17:15,240 Speaker 1: this this superannuation save scheme money as well, so you 365 00:17:15,240 --> 00:17:17,480 Speaker 1: can find the two and potentially you know again no 366 00:17:17,600 --> 00:17:21,560 Speaker 1: save on ortgage insurances or potentially not need a guarantalk 367 00:17:21,560 --> 00:17:23,600 Speaker 1: because you've got a decent sized deposit building up there, 368 00:17:23,640 --> 00:17:25,280 Speaker 1: You're only going to look more desirable to the bank, 369 00:17:25,320 --> 00:17:26,080 Speaker 1: would you correct? 370 00:17:26,119 --> 00:17:28,800 Speaker 2: Absolutely? And because if we're talking about Sydney market, you 371 00:17:28,840 --> 00:17:31,080 Speaker 2: and your partner contribute fifty thousand each to the super 372 00:17:31,080 --> 00:17:34,040 Speaker 2: Savior scheme. You take me out one hundred plus earnings, 373 00:17:34,280 --> 00:17:36,920 Speaker 2: it's ten percent deposit and a mean or the property. Yeah, 374 00:17:37,200 --> 00:17:39,360 Speaker 2: so that you think got mortgage insurance if you don't 375 00:17:39,400 --> 00:17:43,040 Speaker 2: have more than ten percent stamp duty so you need 376 00:17:43,080 --> 00:17:45,960 Speaker 2: a lot more continue saving. Don't just use this as 377 00:17:46,000 --> 00:17:47,919 Speaker 2: one now is it will supplement it? 378 00:17:48,000 --> 00:17:51,919 Speaker 1: Correcte? Yeah? Really wise advice and Richard, I want to 379 00:17:51,920 --> 00:17:55,080 Speaker 1: not end with you if that's Okay, if someone has 380 00:17:55,119 --> 00:17:58,040 Speaker 1: gotten too a great habit, because five years is a 381 00:17:58,080 --> 00:18:00,560 Speaker 1: long time to create a habit, you know, not even 382 00:18:00,640 --> 00:18:04,399 Speaker 1: missed that money. And you know, say someone uses this, 383 00:18:04,480 --> 00:18:06,639 Speaker 1: they have their regular savings plan for their deposit and 384 00:18:06,680 --> 00:18:09,520 Speaker 1: they've got you know, their super Sabers skime money as well. 385 00:18:10,520 --> 00:18:12,720 Speaker 1: And the reason why I say this is just so 386 00:18:12,840 --> 00:18:15,280 Speaker 1: much of a financial being is habit. You know, you think, 387 00:18:15,359 --> 00:18:16,760 Speaker 1: you know when you don't think about you just do it. 388 00:18:17,119 --> 00:18:19,640 Speaker 1: Once you've got your deposit, you know, you've bought your property, 389 00:18:19,760 --> 00:18:22,480 Speaker 1: you've taken that money out. You know, you're cooking with gas, 390 00:18:22,480 --> 00:18:23,919 Speaker 1: you're you're foot in the door of the property, and 391 00:18:23,920 --> 00:18:26,480 Speaker 1: you're paying your mortgage off. What are your thoughts as 392 00:18:26,520 --> 00:18:28,679 Speaker 1: to what to do with that fifteen thousand that you've 393 00:18:28,720 --> 00:18:32,720 Speaker 1: previously been contributing. Obviously, there's a thousand ways to skin 394 00:18:32,800 --> 00:18:36,840 Speaker 1: a cat. You know, should they should one consider putting 395 00:18:36,840 --> 00:18:39,240 Speaker 1: that as an extra payment towards their mortgage or should 396 00:18:39,280 --> 00:18:42,240 Speaker 1: they maybe if they're comfortable that rebuild their superannuation because 397 00:18:42,240 --> 00:18:44,760 Speaker 1: they like seeing a nice healthy balance there and knowing 398 00:18:44,760 --> 00:18:47,080 Speaker 1: that that's the retirement money. What are your thoughts under 399 00:18:47,119 --> 00:18:49,919 Speaker 1: the obviously the banner of general advice like, because I 400 00:18:49,960 --> 00:18:52,320 Speaker 1: think you want to keep riding off great habits. You 401 00:18:52,320 --> 00:18:54,440 Speaker 1: don't want to just let them evaporate. The lifestyle creep 402 00:18:54,560 --> 00:18:55,120 Speaker 1: kick in. 403 00:18:55,600 --> 00:18:59,480 Speaker 4: No, indeed, there is an argument can continue paying into 404 00:18:59,520 --> 00:19:03,960 Speaker 4: super that fifteen thousand? But Eda, I'm a big fan 405 00:19:04,000 --> 00:19:05,200 Speaker 4: of paying down the mortgage? 406 00:19:05,280 --> 00:19:06,440 Speaker 1: Yeah, after tax saving? 407 00:19:06,600 --> 00:19:09,320 Speaker 4: Yeah, yeah, of course, because you know interest rates now, 408 00:19:09,320 --> 00:19:11,800 Speaker 4: what's six six and a half percent depending on your mortgage, 409 00:19:11,840 --> 00:19:14,720 Speaker 4: So you're getting a tax free risk free return of 410 00:19:15,400 --> 00:19:17,560 Speaker 4: six percent six and a half percent by paying down 411 00:19:17,600 --> 00:19:19,920 Speaker 4: your mortgage, So you have interest rates for a lot 412 00:19:20,000 --> 00:19:22,760 Speaker 4: where they were three years ago. Then maybe you could 413 00:19:22,840 --> 00:19:26,320 Speaker 4: argue putting the money into super is IS would be 414 00:19:26,359 --> 00:19:29,639 Speaker 4: more beneficial because you'll get a much better return. But 415 00:19:29,800 --> 00:19:32,880 Speaker 4: you know, an after tax risk free return of six 416 00:19:33,040 --> 00:19:35,639 Speaker 4: six and a half percent at the moment is hard 417 00:19:35,720 --> 00:19:36,920 Speaker 4: to say no Toedly. 418 00:19:36,960 --> 00:19:39,200 Speaker 1: Yeah, I agree, And look, you know there's no it's 419 00:19:39,200 --> 00:19:40,480 Speaker 1: not we don't live in a black and white world. 420 00:19:40,560 --> 00:19:42,119 Speaker 1: Sometimes you know, you might go, Okay, well, for the 421 00:19:42,160 --> 00:19:44,119 Speaker 1: first two years, I'm going to make great headwinds with 422 00:19:44,119 --> 00:19:45,760 Speaker 1: my mortgage because that's when we can have the biggest 423 00:19:45,760 --> 00:19:48,760 Speaker 1: and best impact and save obviously interest as well as time. 424 00:19:49,240 --> 00:19:50,800 Speaker 1: But then you know, in two three years time, you 425 00:19:50,880 --> 00:19:52,280 Speaker 1: might go, Okay, well all right, I'm going to now 426 00:19:52,359 --> 00:19:54,919 Speaker 1: balance it. I'm going to look at some sacris salary 427 00:19:54,920 --> 00:19:58,040 Speaker 1: sacrificing that was in similar alignment to you know, the 428 00:19:58,080 --> 00:20:00,359 Speaker 1: Super Savior, same plan that I had go going on, 429 00:20:00,560 --> 00:20:03,960 Speaker 1: as well as maintaining you know, some extra payments as well. 430 00:20:04,000 --> 00:20:07,159 Speaker 1: So again, this is why everyone needs to get quality advice. 431 00:20:07,200 --> 00:20:09,520 Speaker 1: They need to not just get their advice off social media. 432 00:20:09,560 --> 00:20:11,760 Speaker 1: They need to get advice off sitting down and talking 433 00:20:11,800 --> 00:20:14,239 Speaker 1: to someone and showing them the numbers, crunching them and 434 00:20:14,320 --> 00:20:17,720 Speaker 1: talking about all the pros and cons and also brainstorming 435 00:20:17,760 --> 00:20:20,480 Speaker 1: a variety of other different ideas like dep recycling or 436 00:20:20,960 --> 00:20:23,679 Speaker 1: having a regular investment plan or you know, there's so 437 00:20:23,680 --> 00:20:25,600 Speaker 1: many different things that we need to all think about 438 00:20:25,640 --> 00:20:29,440 Speaker 1: and consider. So Richard and Adam, thank you so much 439 00:20:29,480 --> 00:20:31,679 Speaker 1: for talking about it. And if anyone has any questions 440 00:20:31,680 --> 00:20:35,840 Speaker 1: and we'd like to, you know, learn more about getting 441 00:20:35,920 --> 00:20:39,080 Speaker 1: you to help them with their mortgage applications in buying 442 00:20:39,080 --> 00:20:41,119 Speaker 1: a first home. Where's the best place to contact you? 443 00:20:41,560 --> 00:20:44,480 Speaker 2: Best for me is email Adam at Bluelanton dot com 444 00:20:44,480 --> 00:20:44,840 Speaker 2: dot au. 445 00:20:45,520 --> 00:20:48,240 Speaker 1: And Richard, you're a financial planner like myself. We've worked together, 446 00:20:48,359 --> 00:20:50,800 Speaker 1: you know, many many years ago. For people who want 447 00:20:50,800 --> 00:20:53,199 Speaker 1: to talk about their superannuation and talk about Okay, well 448 00:20:53,240 --> 00:20:55,480 Speaker 1: I use the super scheme or you know, I'm aware 449 00:20:55,480 --> 00:20:59,159 Speaker 1: of my superannuation being low and you know I'm interested 450 00:20:59,200 --> 00:21:01,520 Speaker 1: in hearing about how I can potentially save tax how 451 00:21:01,520 --> 00:21:02,680 Speaker 1: do they get contact. 452 00:21:02,320 --> 00:21:05,879 Speaker 4: With you same way? Emails Best Richard at Blueland dot 453 00:21:05,920 --> 00:21:06,520 Speaker 4: com dot you. 454 00:21:07,000 --> 00:21:09,159 Speaker 1: So for everyone, Thank you so much for listening today's 455 00:21:09,200 --> 00:21:13,119 Speaker 1: episode on the first home owner Supert's Saber scheme. This 456 00:21:13,320 --> 00:21:15,680 Speaker 1: is something that might be a glimmer of hope for 457 00:21:15,720 --> 00:21:18,400 Speaker 1: people who are passionate about having a home of their own, 458 00:21:18,520 --> 00:21:20,960 Speaker 1: something they can stand in front of, look at, feel, 459 00:21:21,080 --> 00:21:23,560 Speaker 1: touch and see and actually make it part of their 460 00:21:23,560 --> 00:21:26,800 Speaker 1: investment portfolio over the long run, where their first home 461 00:21:26,920 --> 00:21:30,800 Speaker 1: is just the entrance their passage in creating real, authentic, 462 00:21:31,000 --> 00:21:35,119 Speaker 1: long term, sustainable financial freedom and independence. For anyone that 463 00:21:35,240 --> 00:21:38,600 Speaker 1: ever has any questions or has any podcast topic requests, 464 00:21:38,640 --> 00:21:41,000 Speaker 1: please make sure you send them directly to me on 465 00:21:41,080 --> 00:21:44,400 Speaker 1: Instagram at sugar Mama Tibi, and in the meantime, please 466 00:21:44,440 --> 00:21:46,760 Speaker 1: feel free to share this particular episode with any of 467 00:21:46,800 --> 00:21:49,600 Speaker 1: your family or friends that are really trying to get 468 00:21:49,600 --> 00:21:51,840 Speaker 1: into the property market, as this may be the perfect 469 00:21:51,840 --> 00:21:54,400 Speaker 1: solution and the glimmer of the hope that they may 470 00:21:54,480 --> 00:21:57,920 Speaker 1: need right now. Thank you everyone for listening. In the meantime, 471 00:21:58,040 --> 00:22:16,359 Speaker 1: keep that financial fire burning bright. This is Sugarmomma's I