Speaker 1: You're listening to the Weekend Collective podcast from News Talks abnight.
Speaker 2: And welcome back to the show. This is the Weekend Collective.
Speaker 2: I'm Tim Beverage. And by the way, if you've missed
Speaker 2: any of the previous hours, you can go and check
Speaker 2: out a podcast at News Talk, sib dot, Curla and
Speaker 2: ZI just lot for the week and Collective, or go
Speaker 2: to iHeartRadio. And just before you get into smart Money, look,
Speaker 2: I will acknowledge there were a lot of people who
Speaker 2: wanted to have a chat with or about the pandemic
Speaker 2: and all that sort of thing, but really the purpose
Speaker 2: of having actually Bloomfield on was to talk about the
Speaker 2: future of our health system and the problems that we
Speaker 2: are facing, which is why I wasn't dwelling on and
Speaker 2: going to be digging into the various theories people have
Speaker 2: about the last you know, the years of the COVID virus.
Speaker 2: It wasn't that we were avoiding it because we didn't
Speaker 2: want to talk about it in terms of the controversy.
Speaker 2: It's just that that was not the purpose of the hour.
Speaker 2: We've got a guy who's got a massive amount of
Speaker 2: experience in public health, and it was interesting, I think
Speaker 2: to have a chat about the things that are most
Speaker 2: the biggest challenges currently for the health system. So I
Speaker 2: thought he had some really interesting comments and if you're
Speaker 2: interested in going back and having a listen to it,
Speaker 2: the bit to me was that he talked about the
Speaker 2: biggest problems we have is just basically, if I'm paraphrasing,
Speaker 2: managing an aging population, how what we can do best
Speaker 2: to live longer? And I think at top of the list,
Speaker 2: what I took from it, apart from good nutrition and
Speaker 2: all that was exercise. Just keep moving, keep moving and age. Well. Anyway,
Speaker 2: that's what I got from it. So I do acknowledge
Speaker 2: some of the slightly more colorful texts I've got, but
Speaker 2: that wasn't really what the purpose was. So there we go.
Speaker 2: Just put that one bed there. But now we're going
Speaker 2: to shift on too, smart money and of course the
Speaker 2: global economy. You know, we've seen the headlines shifting at
Speaker 2: the moment to say the least warning warning. This is
Speaker 2: a trigger warning for you, and I'm not talking about
Speaker 2: the health how this is a trigger warning. Do not
Speaker 2: look at your key we saver because you might not
Speaker 2: like what you see. Because with the recent I'm going
Speaker 2: to put some context in before I introduce my guest
Speaker 2: with the recent Trump tarif announcements affecting the local markets.
Speaker 2: So we got ten percent on New Zealand export, it's
Speaker 2: just I think basically that's the default. We got off
Speaker 2: lightly compared to some countries. But here's some context for you.
Speaker 2: Over a two day period last week, the market erased
Speaker 2: approximately six point six trillion in value USD Now, to
Speaker 2: make it really fun, let's convert that to New Zealand dollars.
Speaker 2: That is, ten point eight nine trillion dollars of value
Speaker 2: were wiped off stocks in the US. The S and
Speaker 2: P A loan accounted for a five trillion dollar loss
Speaker 2: during the time frame. The Dow Jones and Dusty plummeted
Speaker 2: over two point sorry two hundred points on April four,
Speaker 2: contributing to a two day decline, as I say, which
Speaker 2: was unprecedent of nearly four thousand points. So stock market's
Speaker 2: been all over the place. Foreign trade is a waiting
Speaker 2: game for US. Where are you putting your money? Where
Speaker 2: should you put your money? Or should you just leave
Speaker 2: it where it is, sit tight and wait for it
Speaker 2: all to blow over and fingers cross all all will
Speaker 2: be well anyway, could gold? Could that be the place
Speaker 2: to be? I would suggest that if you're thinking about
Speaker 2: gold now, you're probably too late. The time to do
Speaker 2: it was a few days ago. But anyway, we're going
Speaker 2: to dig into that. We want your calls. Oh, eight
Speaker 2: hundred and eighty, ten and eighty. You might love the tariffs.
Speaker 2: I'd probably have a point of difference with you on that.
Speaker 2: But you know, where are you going to put your
Speaker 2: money or where should you put your money? So personal
Speaker 2: wealth educator at Acumen, Lisa Dudson is with me. Good afternoon,
Speaker 2: How are you, Lisa? Good? Thank you? Actually have you
Speaker 2: been keep you know, on your own portfolio?
Speaker 3: Usually I do, but I have to say the last
Speaker 3: couple of days I haven't looked. But I do remember
Speaker 3: looking when COVID hit and got something like a thirty
Speaker 3: percent client in my portfolio over about teen days, and
Speaker 3: I did watch it like every day and saw it
Speaker 3: go down on this time round. I think I've just
Speaker 3: been a busion. Hadn't really thought about it the last
Speaker 3: couple of days, but yeah, probably not going to be
Speaker 3: a happy camp and when I look at it. So
Speaker 3: I'll just put my head in the sand for all.
Speaker 2: And for me, I haven't given it a second that's
Speaker 2: a lie. I have given it a second thought because
Speaker 2: of the job I do. But for me, I like
Speaker 2: in it too. When I'm producing a concert and I'm
Speaker 2: wondering that the ticket sales a bit sluggish, and I
Speaker 2: suspect they might be depending what happens in the future,
Speaker 2: and I avoid checking them. But actually works quite well
Speaker 2: for me to put my head in the sand for
Speaker 2: two or three weeks and then just because I know this,
Speaker 2: I work out there's nothing I can Well, the psychology
Speaker 2: is similar, so I work out that for the first
Speaker 2: two or three weeks or a particular period, there's not
Speaker 2: much I can do because I've got my strategy on
Speaker 2: selling tickets, and you know what, there's nothing I can
Speaker 2: change right now, So just ignore it for the time
Speaker 2: being and update yourself in a couple of weeks.
Speaker 3: Well, that's right. And we have had a few curly
Speaker 3: things happen in the last couple of years with COVID
Speaker 3: and walls and a few other bits and pieces, so
Speaker 3: it's not like we haven't been here before, unfortunately, but
Speaker 3: we chentuly you know, generally always recover, So I think
Speaker 3: it's just, you know, you've just got to wait the
Speaker 3: game out, really.
Speaker 2: Because there was the wisdom that I've sort of listened to. No,
Speaker 2: I haven't listened to I've heard it. If I listened
Speaker 2: to it, I don't know. But if you're thinking of
Speaker 2: changing your key we saber, it's too late. Absolutely So
Speaker 2: if you had a bit of foresight a few weeks ago,
Speaker 2: then maybe sure you could have switched into a conservative fund.
Speaker 2: But now we've seen the train wreck happen. The only
Speaker 2: thing you do is lock in your losses, do you.
Speaker 3: Well, that's right, and it will recover. And the thing
Speaker 3: is is if you do change out of you let's
Speaker 3: say you're going to growth key saber and you change
Speaker 3: you into conservative one, you don't know when it's going
Speaker 3: to turn around and rebound. And it could have a
Speaker 3: really strong rebound quite quickly. I think at the moment
Speaker 3: there's just so much uncertainty and it will settle down.
Speaker 3: And so if you do, absolutely, if you change now,
Speaker 3: you lock on your losses and then you potentially miss
Speaker 3: the upside. And timing of the market is really, for
Speaker 3: the vast majority of people a bit of a fool's Errand.
Speaker 2: I mean we look at lessons of the past when
Speaker 2: we've seen falls in the stock market. But of course,
Speaker 2: back back in the day of the Great Depression and
Speaker 2: the Wall Street Crash, of course information didn't happen that quickly.
Speaker 2: It was I'm not saying it was carrier pigeon, but
Speaker 2: I don't know what I'm just the purpose of this
Speaker 2: question is to get the question I'm getting too. I'm
Speaker 2: just trying to set the context. Is you know, how
Speaker 2: much can we actually learn from how markets react? Because
Speaker 2: back then markets reacted according to word of mouth, and
Speaker 2: however quickly you could get information from buyers to sellers
Speaker 2: to the stock exchange. You know, they all in the
Speaker 2: same district for one reason, I guess. But these days
Speaker 2: that instant, that reaction of a market is bom bomb.
Speaker 2: It's done even that I can say bombomb Well, absolutely, But.
Speaker 3: Then our houses. We're four New Zealanders, let's face it,
Speaker 3: that's where most of our wealth is tied up. We
Speaker 3: don't go and get valuations on our houses every day.
Speaker 3: Obviously it's a little bit different because you don't needsari
Speaker 3: get daily pricing on your houses. But you know, and
Speaker 3: I've took to lots of investors in the last couple
Speaker 3: of years who have bought in twenty twenty one, they've
Speaker 3: bought at a really peak time. And are they selling
Speaker 3: their houses straight away when the markets started to decline
Speaker 3: at the end of twenty twenty one. Well, no they haven't.
Speaker 3: They've just kind of ridden it through unless there's been
Speaker 3: a specific reason for it, you know, because a few
Speaker 3: people will be in a situation where they have to sell,
Speaker 3: but most people just write it out.
Speaker 2: I guess. I guess. The point I was making is
Speaker 2: that with the share market, it's even more futile to
Speaker 2: try and write it out because it's too late because
Speaker 2: people who are thinking of, oh maybe I should have
Speaker 2: you know, got into the futures and protected this or
Speaker 2: do that. People the machines and everyone's working that out
Speaker 2: thousands of times before you had that thought in your head.
Speaker 2: You can't. You can only really predict what's going to
Speaker 2: happen and be a bit lucky, I guess, can you.
Speaker 3: Well absolutely, And even if you were shares, you know
Speaker 3: they are very liquid, but they still may take a
Speaker 3: day or two for the transaction to process, so you know,
Speaker 3: it's very much after the fate because information is so quick,
Speaker 3: so there's really very little you can do about it.
Speaker 3: Unless you were, let's say, fortunate enough to have a
Speaker 3: bit of a foresight a couple of weeks ago and
Speaker 3: thought times you know tariffs are coming. It's not like
Speaker 3: it's been a surprise.
Speaker 2: It does feel like there was. Look, I've had plenty
Speaker 2: of conversations with people around property and money, and some
Speaker 2: of the people who are actually sort of involved with
Speaker 2: the property market who were confessed that they weren't as
Speaker 2: interested and they were putting their money into shares and stocks,
Speaker 2: and there seemed to be a what there seemed to
Speaker 2: be up into the last few days, a sense that
Speaker 2: you know, if you really had a good investment strategy
Speaker 2: and stuck money into shares over the past ten, twenty
Speaker 2: thirty years, you'd be doing bloody well. But I guess
Speaker 2: times like this make the shares look a little bit unsexy,
Speaker 2: doesn't it.
Speaker 3: Well, again, it's only because their pride, you know instantaneously,
Speaker 3: and you see those prices instantaneously. Because if we got
Speaker 3: that same information on the property market, it would be
Speaker 3: very interesting to see how people would behave around that.
Speaker 2: So where do you think, what do you think that
Speaker 2: what's happening means for where people should or will put
Speaker 2: their money, because we can all remember the times when
Speaker 2: everyone was in the New Zealand ethos seemed to be
Speaker 2: sticken and property property, property, property, property property. Now we
Speaker 2: seem to be a little more reticent on that. What
Speaker 2: do you reckon?
Speaker 3: Well, I think it's all about context, isn't it. So
Speaker 3: how much money are we talking about? Are we talking
Speaker 3: about a lump sum? When do you need it? What's
Speaker 3: your risk profile? You know, there's a whole range of questions.
Speaker 3: I think you need to just go, you know, go
Speaker 3: and discover before you answer that. But great time to
Speaker 3: maybe paying off your mortgage. So if you've got some
Speaker 3: extra cash at the moment, maybe what you do is
Speaker 3: you just have a strategy of paying down your mortgage
Speaker 3: faster and wait for things to settle down a wee bit.
Speaker 3: That's not a silly idea, well that is.
Speaker 2: That's one of the questions that we've asked a few
Speaker 2: times is that if you have that spare casher, you
Speaker 2: better to invest it or you're better just to pay
Speaker 2: off for the mortgage. Because if you're paying off a mortgage,
Speaker 2: it's say you're on six sish percent on average, I
Speaker 2: don't know, then that's six percent that you would have
Speaker 2: to earn after tax on an investment if you're going
Speaker 2: to split that money elsewhere, correct, yeap.
Speaker 3: So I mean it's an interesting discussion, and I've had
Speaker 3: this with lots of people over many years. Is that
Speaker 3: it's technically it's quite hard to beat the return that
Speaker 3: you get paying off your mortgage because of exactly what
Speaker 3: you're saying, you need to get an after tax return
Speaker 3: on your investments. But there's a psychological component of the
Speaker 3: fact that sometimes people feel better knowing that they have
Speaker 3: something other than just their mortgage. So they've got a
Speaker 3: savings plan as well as paying off that, so they've
Speaker 3: got it, they've got like a double or multifaceted strategy.
Speaker 3: The other thing is, you know, I've often stood up
Speaker 3: at SEM nine and said, okay, if you've done a
Speaker 3: budget and you've worked out that you've got to spare
Speaker 3: thousand dollars a month, where would you put it? Would
Speaker 3: you put it into a mortgage or what would you
Speaker 3: do with it? And nine times out of team people
Speaker 3: spend it, go on holiday, upgrade the car. They don't
Speaker 3: you say, i'd pay off my mortgage faster. So when
Speaker 3: you're thinking about it from that point of view, sometimes
Speaker 3: I think it's almost better to take that thousand dollars
Speaker 3: and put it into some sort of savings plan because
Speaker 3: it's more likely to happen than what it would be
Speaker 3: to pay off your mortgage.
Speaker 2: Yeah, and it seems like I've actually you actually preaching
Speaker 2: to the choir in this one, because I've actually just
Speaker 2: been going through this whether there's a bit of a
Speaker 2: miscommunication with my bank, which I'm about to take them
Speaker 2: up on in quite a strong fashion. But I had
Speaker 2: money in my business account where we're you know, over
Speaker 2: the years, where we've built up this sort of nestig
Speaker 2: But I thought, okay, if I'm gonna I loved having
Speaker 2: it sitting there. I just liked having it sit there
Speaker 2: because I thought there's some money to play around with
Speaker 2: with other ideas. But then I thought, hang on a minute,
Speaker 2: that sits there for a year. What's that money worth
Speaker 2: if I just shove it on my mortgage and just
Speaker 2: take some sort of credit account out that I can
Speaker 2: probably dip into it. It took me a long time
Speaker 2: to decide to do that because I loved having that
Speaker 2: the it's the argument about that thousand dollars a week,
Speaker 2: I'll just stick it into an account where I can
Speaker 2: go ooh, there it is, rather than the boring thing
Speaker 2: of going, well, I've reduced my mortgage by a few thousand,
Speaker 2: but I don't have any play money left.
Speaker 3: Well, that's right. And then so it comes back to
Speaker 3: the context of again of who are you and what's
Speaker 3: going to work best for you? So we've got a
Speaker 3: technically a technical conversation around where is where is the
Speaker 3: best return? And often it is putting it into your
Speaker 3: own personal mortgage. But then there's the what's actually going
Speaker 3: to work for you at the end of the day,
Speaker 3: And you know, do you need some emergency funding too?
Speaker 3: You know, and financial advisors always talk about having three
Speaker 3: to six months of your expondit youre put aside somewhere.
Speaker 3: Will you ruther than having that in a separate bank
Speaker 3: account when you're running no or very little interest. You
Speaker 3: could have that in an offset account. But then to
Speaker 3: have an offset account, then you've got to be disciplined
Speaker 3: with your money, because otherwise it can be a little
Speaker 3: bit dangerous because you can get access to it. And
Speaker 3: so for some people that's not ideal.
Speaker 2: We want to know what you're doing with your money
Speaker 2: and these uncertain times, Okay, whether you are just you
Speaker 2: just struggling to keep your head above water, and it's
Speaker 2: there's not much of a decision debate as one thing.
Speaker 2: But if you've got a bit of it, extra money
Speaker 2: to invest, where are you putting it? Where are you
Speaker 2: thinking you're putting it? Are you just sitting tight because
Speaker 2: you have no idea what the stop market is, or
Speaker 2: are you thinking, hell, stop maker caun't fall any further.
Speaker 2: I'm going to pump a whole lot of money into it,
Speaker 2: or are you going to do the old buy gold
Speaker 2: which I've had so often people, My money is, it's
Speaker 2: where it's gold, as we're golders, put it where gold is.
Speaker 2: But you know what, if you shoved it in Berkshire
Speaker 2: Hathway instead stick it in gold, you'd be a hell
Speaker 2: of a lot richer, maybe in safe times, but you'd
Speaker 2: have to see those safe times coming. We want your calls.
Speaker 2: What are you doing with your money? Or are you
Speaker 2: just sort of like you know what things are up
Speaker 2: and down? Who knows what's going to happen. I don't
Speaker 2: know what Trump's going to do with his tariffs. I'm
Speaker 2: just going to let sit it out and just leave
Speaker 2: it where it is and let let my fund managers
Speaker 2: look after everything. What do you reckon? I eight hundred
Speaker 2: and eighty ten eighty text nine two just probably go
Speaker 2: to the break. Have you ever bought gold, Lisa.
Speaker 3: No, I haven't. I think some of the funds that
Speaker 3: I've got have got some exposure to it, but I
Speaker 3: don't know when I've looked at it over the long term.
Speaker 3: I just think that you know, there are other good
Speaker 3: performing investments. I think do just as well when you
Speaker 3: look at it from a longer term perspective.
Speaker 2: If you were to buy gold, would you want to
Speaker 2: have it in your hot little hands?
Speaker 3: Ah, don't I suppose. I don't really think like that.
Speaker 2: No, No, just for the fun side of it. They
Speaker 2: had an item on the news and they had a
Speaker 2: gold somebody's perching gold and they show little gold nugget,
Speaker 2: and I thought, but I'd be wirried. I'd stick it
Speaker 2: to a soft drawer and forget where it was, So
Speaker 2: I reckon, that'll be the safest place for it. Don't
Speaker 2: have the safe. I'd have a safe with a few
Speaker 2: bits of paper in it, and I'd probably stick the
Speaker 2: gold in the sock draw By the way, people, I
Speaker 2: don't have any gold it's not my soft drawers, so
Speaker 2: don't even try and track me down. You might get
Speaker 2: some you can go and clean my socks of course. Anyway,
Speaker 2: it's twenty one past five. Where are you putting your money?
Speaker 2: Where should you put your money? But also you can
Speaker 2: offer your predictions as to what's going to happen with
Speaker 2: these tarists, because it's extreme what's going on right now.
Speaker 2: If he can persists with it, I can't see it
Speaker 2: being a great outcome for everyone. My bet is he's
Speaker 2: going to find somewhere pulling the pin but saying, ah,
Speaker 2: people to the people at table, we negotiated and this
Speaker 2: is the arrangement we've got or not. Twenty one and
Speaker 2: a half past five, This is news talk said, be
Speaker 2: back in the moment, Yes, welcome back to smart Money.
Speaker 2: Lisa Dudson, personal wealth educator Acumen is with me, and
Speaker 2: where are you putting your money? Given what's going on
Speaker 2: with the share markets? And as I say, warning, warning,
Speaker 2: do not check your key we saver, although I think
Speaker 2: I might do mine in the break next break look
Speaker 2: sax some cause Gary.
Speaker 4: Hello, Hey and leisure. I understand I can't change at
Speaker 4: the moment, but can I change the amount and want
Speaker 4: to be better for me to take because at the
Speaker 4: moment I'm at three percent on my queue server of
Speaker 4: my wages.
Speaker 3: Yes, so you're you're so you're putting key You're putting
Speaker 3: three percent of your wages into your keyp saver. And
Speaker 3: your question is should you increase three percent?
Speaker 4: Yeah? Because the stocks, I say, old, I've got up
Speaker 4: to like ten percent?
Speaker 2: Are you? And can I ask are you in an
Speaker 2: aggressive or a conservative or a balanced fund? What sort
Speaker 2: of fund you in?
Speaker 4: Well? I think I'm a conservative?
Speaker 3: Okay, Well in question actually, and have you got spear cash?
Speaker 3: Like do you do you have a mortgage? Have you
Speaker 3: have you got spear cash?
Speaker 4: Okay, I'm not a single fellow.
Speaker 3: Okay, you're a single fellow. And are you Are you
Speaker 3: saving your keep saver to get into a house or
Speaker 3: you've got your own house already?
Speaker 4: Now I don't have a boarding house, but yeah, I
Speaker 4: don't have rent. Now I'm not looking at house right,
Speaker 4: But you.
Speaker 3: Got Okay, So it's a good way, I mean, potentially
Speaker 3: it can be a really great way of savings. The
Speaker 3: only thing you need to be mindful of because you
Speaker 3: can increase it from three to four to six to
Speaker 3: eight or ten percent is that you can't get access
Speaker 3: to those funds and to you're the age of sixty
Speaker 3: five unless you leave the country or have a terminal illness,
Speaker 3: or you have hardship meet the hardship requirements. So the
Speaker 3: thing with Kibi savers, it's a great long term compulsory
Speaker 3: savings plan, but it is locked in most circumstances.
Speaker 2: Because that's an interesting question. Of course, I would say,
Speaker 2: if you're in a conservative fund, it's going to be
Speaker 2: it's not going to be heavily dabbling in the share
Speaker 2: market anyway, conservative fun.
Speaker 3: No, it's small exposure.
Speaker 2: Whereas if you're in a really aggressive fund and say
Speaker 2: it's lost a bit of value, would that be if
Speaker 2: you decided, well, actually, you know what, this is going
Speaker 2: to make up time, then there'll be more of an
Speaker 2: argument for possibly not personalized to vanished advice, especially if
Speaker 2: not from me. But would there be an argument to
Speaker 2: stick a.
Speaker 3: Bit more in Yeah, I mean again, it always comes
Speaker 3: back to that context of you know, do you have
Speaker 3: some emergency savings, do you have a mortgage, you know
Speaker 3: what other sort of access to funds that do you have?
Speaker 3: But if you've got spend money floating around that you
Speaker 3: don't need for the long term. This represents a good
Speaker 3: buying opportunity at the moment. And what it brings into
Speaker 3: a question is the whole dollar cost averaging. So what
Speaker 3: that essentially means is that you're buying in Let's say
Speaker 3: you get paid monthly, you're buying a small amount every
Speaker 3: month with your contribution. Let's say you're three percent into
Speaker 3: the market, So over a period of time, you're averaging
Speaker 3: out the buy price that you buy into those funds with. Anyway,
Speaker 3: but absolutely at the moment, if you've got spare money
Speaker 3: that you don't need for the long term, this is
Speaker 3: potentially a great time to be buying. And albeit if
Speaker 3: you are in a conservative fund you won't get quite
Speaker 3: the value that you would if you're in a growth fund.
Speaker 2: I've just looked at my key we saven now, but
Speaker 2: I'm guessing that it'll be tomorrow then I need to
Speaker 2: look because it says balance as at four April twenty
Speaker 2: twenty five, which is our fourth of April, which is
Speaker 2: only part of the way through the carnage on Wall Street.
Speaker 2: So I shouldn't look it on a Monday right because
Speaker 2: it's barely had a blip. It's only had a slight light.
Speaker 3: Maybe it just depends on when the pricing is too
Speaker 3: you know, yeah.
Speaker 2: Yeah, either that or my key we save a fund
Speaker 2: sort of coming and they're very clever. But I just
Speaker 2: don't imagine.
Speaker 3: That than that you might be wishful thinking.
Speaker 2: Yes, indeed, right, let's take some more course. Where are
Speaker 2: you putting your money in turbulent times? That's the question.
Speaker 2: Eight hundred eighty ten eighty Nick, Good afternoon.
Speaker 5: Oh, good afternoon. I'm just happy that I think it's Lisa.
Speaker 3: Is it lethal, Yes, it's Lisa.
Speaker 5: Yeah, I'm glad that you said something. Fine because I
Speaker 5: was listening to it, you both in the car, and
Speaker 5: I never call up the radio, but I thought I
Speaker 5: have to call up and make sure everybody's doing sound device.
Speaker 5: Based on data, the market's gone down about thirteen percent
Speaker 5: since last week, so that you drop at the moment.
Speaker 5: The market goes down ten percent about once every two years,
Speaker 5: and it goes down twenty percent about one sevy five
Speaker 5: or six years. If you're in the market. This is
Speaker 5: as you said, Lisa, are buying opportunity. Gold hasn't returned
Speaker 5: anything since nineteen hundred to two and one hundred years.
Speaker 5: If he took gold. It doesn't produce anything, So when
Speaker 5: you're buying, you want to know what you're buying. You
Speaker 5: also talked about paying down interests. I never agree with that. Hi,
Speaker 5: It's about allocation of capital and return on capital. So
Speaker 5: if your interest rate is five percent of the bank,
Speaker 5: but you can get ten percent of the market, you
Speaker 5: should be buying the market. Well, if your introwight was
Speaker 5: fifteen percent and the market was ten percent, should be
Speaker 5: paying down.
Speaker 3: Well that's great, and I don't disagree with that, but
Speaker 3: I just think, you know, when you're talking to the
Speaker 3: majority of people, they don't potentially have access to investments
Speaker 3: at ten and fifteen percent have the you know, have
Speaker 3: the knowledge or have the risk appetite to be to
Speaker 3: going at that level. So for the average person, there
Speaker 3: is a lot of sense in paying down debt.
Speaker 5: Well, the market's outformed. What for the last one hundred years,
Speaker 5: there would be five hundred hairs averaged ten percent a
Speaker 5: year before inflation. You talked about Berkshire, He's talked about
Speaker 5: Birdsure hath the way before. He's averaged twenty percent for
Speaker 5: about the last sixty years.
Speaker 3: Yeah, it's done really well.
Speaker 2: Yeah, what you and Nikki you and are you just
Speaker 2: an investor? Are you actually in the game?
Speaker 5: What do you mean in the game?
Speaker 2: Is your job providing financial advice.
Speaker 5: By business owners on all sorts of things. So I'm
Speaker 5: not a licensed financial provider, but interesting enough, one of
Speaker 5: my clients is, and I give him advice. Here's the advice.
Speaker 5: I'd give it all your listeners.
Speaker 3: I don't disagree with anything that you're saying.
Speaker 5: Yeah, I just make a point. The market, which we're
Speaker 5: talking about, the share market, is the only place where
Speaker 5: when prices go down, people cry, and when prices go up,
Speaker 5: people rejoice. It should be the other way around. If
Speaker 5: you think what your favorite car is, your favorite food is.
Speaker 5: If you go to a restaurant and they double the price,
Speaker 5: you wouldn't buy buy the food. But if they said,
Speaker 5: you know what, everything's half price, limited time, you'd have
Speaker 5: two stakes or whatever. So you have to understand that
Speaker 5: in the short term, the market is a voting machine
Speaker 5: and the long term is a wave machine. As for
Speaker 5: Benjamin Graham, the intelligent investor.
Speaker 2: What about property? Where do you say, what do you
Speaker 2: think of property? Have you been and dabbled in that?
Speaker 5: I think that So to Lisa's point about where if
Speaker 5: you the average person and you don't think you can
Speaker 5: really get into probably because I've just actually gone and
Speaker 5: got some more money from the bank, and with there's
Speaker 5: big numbers and it's hard to get money now they've
Speaker 5: got there's a lot of sand and the oils of
Speaker 5: the economy due to the labor changing their laws around borrowing,
Speaker 5: so banks have a lot of restrictions on they have
Speaker 5: to look at your income, et cetera. I say, if
Speaker 5: you're an average person, to go to Leasa's point, Keev
Speaker 5: savers only got at three percent. There's no financial incentive
Speaker 5: other than the five hundred dollars in the match you
Speaker 5: from your employer to do Keev savor because it's not text.
Speaker 3: Yeah, but I look, I don't just interrupt you there.
Speaker 2: Hang on, we're turning into a bit of a lecture here.
Speaker 2: We'd like to let Lisa jump in and you can
Speaker 2: add another point in a second.
Speaker 4: Yeah.
Speaker 3: I think, well, I don't think I'm disagreeing with anything
Speaker 3: that you're saying, but you're forgetting human nature and you're
Speaker 3: forgetting you know, psychology in there, because not everything runs
Speaker 3: like a textbook. So if you read a textbook and
Speaker 3: you know I don't. I don't disagree technically on what
Speaker 3: you're saying, but that's just not necessarily how a lot
Speaker 3: of these things play out in life. And I think
Speaker 3: those are the things sometimes we have to think about
Speaker 3: the context of the average person and how they're listening,
Speaker 3: and you know what makes sense for them on a
Speaker 3: practical level.
Speaker 2: As your vibe right now, Neck is that, look, markets
Speaker 2: have fallen, it's probably not a bad time to stick
Speaker 2: a bit more money into it. Would that be a
Speaker 2: crude summary of what you're suggesting.
Speaker 5: Yes, well, what I'm saying is a no, Lisa, I
Speaker 5: do completely understand. Emotional temperament is the key to investing.
Speaker 5: If you don't have emotional temperament, don't buy a house,
Speaker 5: don't buy shares, don't buy goal. You have to be
Speaker 5: calm and rational. Now, people are irrational, irrational things I
Speaker 5: coach people full of and I understand it. I just
Speaker 5: want to first my point on key we save it
Speaker 5: in America because I used to live in America. They
Speaker 5: have a very climate fans called the four on one
Speaker 5: K and you can put up to about twenty two
Speaker 5: thousand US a year, and that's tax deductible. That comes
Speaker 5: off your income. In New Zealand, Hallan Clarke and Michael
Speaker 5: Cuhen set up at first not so you pay your tax,
Speaker 5: then your money goes in the key we so you
Speaker 5: should do you three percent, get the matching from there,
Speaker 5: pour and get the five hundred and twelve dollars a
Speaker 5: year the government gives you. But other than that you
Speaker 5: should use something like a share trading platform what shares
Speaker 5: is or hatch and buy the S and P five hundred,
Speaker 5: which is saying all the spot fun and just do
Speaker 5: what Lisa said, do what cost averaging and don't don't
Speaker 5: you're saying time you're going to look at yours on Monday,
Speaker 5: don't look at yours.
Speaker 2: No I said that. Don't take me literally. I'm not
Speaker 2: going to be looking at mine on Monday. Don't worry
Speaker 2: about it.
Speaker 5: I'm just tried to. So going back to where where
Speaker 5: you put your money, if you are happy buying the
Speaker 5: index which is for ninety nine, So just so you know,
Speaker 5: only one percent of fund managers outperform the index. Now
Speaker 5: I am personally in my KIV saver and Milford said
Speaker 5: a active growth fund, which is one of the always
Speaker 5: the top performing them official funds of the two best returns.
Speaker 5: The S and P five hundred has outperformed it last
Speaker 5: year by.
Speaker 2: Double Hey, just quickly, just quickly.
Speaker 5: Neck, what's perspective?
Speaker 2: Yeah, yeah, okay, okay, I just got one last question.
Speaker 5: Point one more point hang on one more point five
Speaker 5: by twenty three percent last year, it's gone down by thirty.
Speaker 5: Now it might go there more.
Speaker 2: That was my next question. Actually, I was just going
Speaker 2: to ask you, how far do you think it's kind.
Speaker 5: Of for well, the purpose of predictions is to make
Speaker 5: fortune tellers look good. There's nobody there.
Speaker 2: Well, just when you get you hang yourself out in
Speaker 2: the breeze of their neck. But hey, mate, unfortunately we've
Speaker 2: got to go to a break. But thank you for
Speaker 2: your core. We'll be back. And just to take lots
Speaker 2: of food for thought from Nick there, I.
Speaker 3: Think, I mean, I mean a lot of good points. Again,
Speaker 3: it's just that human psychology is quite a key thing.
Speaker 2: It's interesting questions just around human psychology about just how
Speaker 2: much your nerves can take a jangling from these things.
Speaker 2: I mean, as as Nick says, if you just invest
Speaker 2: in this and P over the last thirty forty fifty years,
Speaker 2: you'd probably be feeling quite good.
Speaker 3: And I also I think you also underestimate how many
Speaker 3: people when they when things are a little bit tough,
Speaker 3: they access those savings that they have, whereas they can't
Speaker 3: access kiwisaver is easily. And so the compulsory locked and
Speaker 3: nature of semi compulsory nature and locked and nature of
Speaker 3: kiwisaver I think does work out for a lot of
Speaker 3: people on the long term because it's just much harder
Speaker 3: to access it when you feel like you just need
Speaker 3: a little bit of extra money.
Speaker 2: Just by way of having a look at it, I've
Speaker 2: got the market. I've got one of the market sap
Speaker 2: on my apps on my phone over the past five
Speaker 2: years from the sixth of April twenty twenty two fifth
Speaker 2: of April twenty twenty five, which includes that that drop
Speaker 2: off one hundred percent growth in five years in the
Speaker 2: S and P. It's not bad, is it. I guess
Speaker 2: the question is how far is that drop off going
Speaker 2: to continue?
Speaker 3: It's interesting now you're looking into a crystal ball, really
Speaker 3: and then you know, I could rebound quite quickly, because
Speaker 3: I think it's markets rebound with uncertainty. Right, so once
Speaker 3: everyone maybe gets used to the tariffs or we don't
Speaker 3: even know where the Trump's going to keep these all
Speaker 3: these tariffs the way they are, right, because you know,
Speaker 3: anything can change.
Speaker 2: I think that's the thing that's soone's settling just who
Speaker 2: knows what he is going to do.
Speaker 3: Yeah, but it will settle itself down, and when it
Speaker 3: does settle self down, markets will start recovering.
Speaker 2: Hmmm, it's interesting. For what isn't it? The S and
Speaker 2: P five hundred Right, We'll take more calls in just
Speaker 2: a moment. We've got lots of text to get onto,
Speaker 2: so we'll we'll crack on in just a moment. It's
Speaker 2: twenty two minutes to sick, so tag the rain.
Speaker 5: Back for.
Speaker 1: Speak of two Miss let's sounds like the rain.
Speaker 2: Welcome back to the show. This is the weekend collective
Speaker 2: Smart Money. My guest is Lisa Dudson. She's a per
Speaker 2: personal wealth educator at Acumen. Actually was this her choice
Speaker 2: of song? I do that was her choice of song. Actually,
Speaker 2: we've going to forget you to have a think about
Speaker 2: your choice of song so we can give you a
Speaker 2: give you a request as part of your part of
Speaker 2: the joy of appearing on the show.
Speaker 3: Letter I'll look forward to that.
Speaker 2: Okay, let's get into some of the questions. We've got
Speaker 2: lots of texts on this. You can jump the que
Speaker 2: if you want to give us a call on eight
Speaker 2: hundred eighty ten eighty. It just changed my key WE
Speaker 2: safer percentage to ten percent in the last week. Of course,
Speaker 2: that's a good, healthy contribution, isn't it. It is? So
Speaker 2: what says what happens if I changed my key WE
Speaker 2: save a percent to ten percent last week? Well, it
Speaker 2: doesn't mean anything. You're just sticking more money from your wages.
Speaker 3: That's right, And I mean you may not have depending
Speaker 3: on when you get paid. You may have bought more
Speaker 3: shoes in the last few days, or you may not have.
Speaker 2: Okay, can I use existing key WE saber funds to
Speaker 2: pay down my mortgage? I can answer that. No, No, hooray.
Speaker 2: That's so. Would it be a good time to put
Speaker 2: money into shares.
Speaker 3: Yes, providing you've got you know, you've got some risk tolerance.
Speaker 3: So because it may come down further and it may
Speaker 3: be a bit more rocky for it for a while yet.
Speaker 3: But in terms of is the market cheaper now than
Speaker 3: what it was a week ago, yes, so it is
Speaker 3: reasonably goodbye.
Speaker 2: Instead of paying that money off a mortgage, I should
Speaker 2: have just waited till.
Speaker 3: Well, again, it's who knows it's for risk. Well, this
Speaker 3: is where you go and see a financial advisor, right,
Speaker 3: because you start looking at the context of the of
Speaker 3: your own personal situation. Right. These questions are just not
Speaker 3: that straightforward. They seem straightforward, but there's a lot of
Speaker 3: context around them.
Speaker 2: It's interesting the attitude for risk thing, too, because so
Speaker 2: I get nervous. I would get nervous if I stop
Speaker 2: I don't know, ten twenty thousand dollars or something and
Speaker 2: suddenly decided right, share markets taking a tumble, I'm gon
Speaker 2: shove it in for and see where it goes. But
Speaker 2: I'd be really nervous about that. And yet when I
Speaker 2: produce a concert, the risk profile for that, I don't
Speaker 2: know how to quantify that.
Speaker 3: Because risk is often linked to your knowledge and experience
Speaker 3: about something, right, So you don't need to understand the
Speaker 3: share market as well as what you understand doing the concert.
Speaker 2: I know much. I understand that either, to be honest,
Speaker 2: because it's the shifting stands of time. What's that from? Ah?
Speaker 2: The days of our lives?
Speaker 3: Oh your closet, days of allies?
Speaker 2: One never but I think we've all heard that heard
Speaker 2: that Intro Sun has just signed up to buy first house.
Speaker 2: Now his kei we savor is disappearing. Any thoughts cheers,
Speaker 2: Steve Case. So they can use their Kiwi saber to
Speaker 2: buy their first house, but they haven't taken the money
Speaker 2: out yet and it's taken a hit.
Speaker 5: Yeah.
Speaker 3: Well, I think there's a couple of things in there.
Speaker 3: As one as you know, when are you buying the house,
Speaker 3: because normally you take the funding, your money out of
Speaker 3: you kipi saber pretty much at the same time you
Speaker 3: buy a house.
Speaker 2: The first piece of advice for anyone else who's doing it.
Speaker 3: Yeah, so they may not. He might be. I don't
Speaker 3: know whether he's buying house now or whether it's you know,
Speaker 3: sometime and then a short term future. The second thing
Speaker 3: is is if you are looking at buying a house,
Speaker 3: you probably want to be thinking about being in a
Speaker 3: conservative fund. Were certainly in a conservative fund close to
Speaker 3: the time that you want to be.
Speaker 2: So this is advice in hindsight. Because he says Son
Speaker 2: has signed up to buy a first house, I'm going
Speaker 2: to assume that's I'm going to assume just for our
Speaker 2: show that that's a contract, in which case ideally you
Speaker 2: would have wanted to have withdrawn that fund those funds
Speaker 2: or conservative of them.
Speaker 3: That's probably horse has bolted on that one by the
Speaker 3: sounds of.
Speaker 2: It, So Steve, it's a son anyway, So Steve, I
Speaker 2: think any thoughts. Yeah, you might need a you might
Speaker 2: need to see if you can subsidize your son a
Speaker 2: bit more if he's lost a bit of money. But
Speaker 2: there we go. It's nothing.
Speaker 3: Well, so much you can do about it. Yeah, And
Speaker 3: it may also be a couple of weeks to go
Speaker 3: before he settles in the funds and needed anyway, so
Speaker 3: I may recover a little bit by then. We just
Speaker 3: don't know the timing And that question, how smug would.
Speaker 2: You be feeling if you'd pulled your money out of
Speaker 2: the market a couple of days ago and then well,
Speaker 2: I guess you'd have to make a decision as to
Speaker 2: when you're going to put.
Speaker 4: It back in.
Speaker 2: That's right. Have you ever done that?
Speaker 5: No?
Speaker 3: I tend to think, because I all the research that
Speaker 3: I've looked at, you have to be pretty lucky to
Speaker 3: get your timing right on that. And so I'm a
Speaker 3: long term investor, so I just do the long term.
Speaker 2: I think most people who are successful investors. Generally you
Speaker 2: chat with them and you find out that they're frustratingly
Speaker 2: long term. It's just in the pub you hear people go, oh,
Speaker 2: I bought this at such and such and I did this.
Speaker 2: It's like, speak them six months later it's all gone.
Speaker 4: Yeah.
Speaker 3: But I remember ring an article this is a few
Speaker 3: years ago about like something that ninety percent of day
Speaker 3: trade has lost money. And those are people that are
Speaker 3: actually trading professionally is their job, and they were still
Speaker 3: losing money. So I just think that, you know, if
Speaker 3: it's a small percentage of people that do really well
Speaker 3: in that trading space, and I tend to be a
Speaker 3: bit more of a long term investor.
Speaker 2: Yeah, okay, let's have got a few more texts. I've
Speaker 2: got so many questions coming to my own mind on
Speaker 2: this part of better. I'll ask you those when you
Speaker 2: take the break. We're looking at buying an investment property.
Speaker 2: It's going to raise our mortgage by about three hundred
Speaker 2: a fortnite, but the rate will cover the mortgage on
Speaker 2: the investment property. Do you think this is a good
Speaker 2: thing to do or use that three hundred dollars to
Speaker 2: pay down the mortgage on our own property.
Speaker 3: Well, if you can afford to buy a second property.
Speaker 3: What I've always been a big fan of property investment.
Speaker 3: So you just need to understand the rules of the game,
Speaker 3: you know, because it's not that straightforward. You know things
Speaker 3: about risks of losing tenants, maintenance costs, you know those
Speaker 3: sorts of things. But if the way that I look
Speaker 3: at is that you're using leverage and then you've got
Speaker 3: growth on two houses as opposed to one, So you've
Speaker 3: got a growth on your own home and you've got
Speaker 3: the growth over the long term on your investment property
Speaker 3: as well. So generally speaking, that's going to give you
Speaker 3: a better return over the long term than just.
Speaker 2: Having assuming that leverage cacks in and we have some
Speaker 2: decent growth in the market and you're not subsidizing the rent.
Speaker 3: For well, even if you do subsidize it, just as
Speaker 3: long as it catches that up. Yeah, that's right, and
Speaker 3: most of the cases it will. If if again, long.
Speaker 2: Term, what do you enjoy investing the most property or shares?
Speaker 2: I do both, So what's what's the one that what's
Speaker 2: the one that gives you the fresh.
Speaker 3: Song of like it depends with them having tenant issues
Speaker 3: all So it's like sh Yeah. You know, you go
Speaker 3: through times where you have a really good run worth,
Speaker 3: you know your tenants, and then you have a challenging
Speaker 3: tenant who trashes the place, and then you know, I
Speaker 3: tend to be more of a favorite of my shaarbootfolio.
Speaker 3: You know, obviously probably not liking my sharpootfolio so much.
Speaker 3: This week nord I did post COVID that was pretty
Speaker 3: pretty hair raising, but you know, so again I just
Speaker 3: try to take a deep brief and think about my
Speaker 3: long term strategy.
Speaker 2: The other thing is I've got a text here saying
Speaker 2: I'm putting more money into my key we save while
Speaker 2: the prices are down. That's more relevant if you've got
Speaker 2: a portfolio that will have experiences those highs and lowers, yes,
Speaker 2: as opposed to if you're just pumping more into conservative
Speaker 2: it's not really Yeah.
Speaker 3: But I still think if again, if you've got the
Speaker 3: money and it's stopping you spending the money right, well then.
Speaker 2: Because the other I still think that not knowing that
Speaker 2: still think anything. What I mean is I think if
Speaker 2: I was going to do it because Kiwi sab that's
Speaker 2: it intil sixty five. Whereas find a fund, yes see,
Speaker 2: that is aggressive where you still have control about it
Speaker 2: taking money in and out. That would be well.
Speaker 3: Generally, my default position with most people is to go
Speaker 3: do the minimum with kiwisaver, and then if you've got
Speaker 3: any extra cash, either pay off your mortgage and or
Speaker 3: have the savings into a separate fund, because then you've
Speaker 3: got access and liquidity. But if I come across some
Speaker 3: of my clients who aren't very disciplined with their money,
Speaker 3: then I sometimes liked the higher amounts with kiwisaver, because
Speaker 3: again it's that locked in nature.
Speaker 2: Steve says, Tim, put your money into arms manufacturing countries
Speaker 2: worldwide up in good defense spending. That's like a very
Speaker 2: cynical text, but actually it's probably quite true.
Speaker 3: Why'd you get to find the fine?
Speaker 2: Well, actually, how would you know how to? Yeah, I
Speaker 2: mean who are the companies? It's funny. Well, we talked
Speaker 2: about this before about ethical investing, and it pops up
Speaker 2: all the time that I always say that people say, well,
Speaker 2: you can't building investing in arms manufacturers im moral, But
Speaker 2: actually it depends what those arms are used for. If
Speaker 2: you are investing in a company which provides the military
Speaker 2: resources for countries to defend themselves.
Speaker 3: Well, that's if you ask the people in Ukraine what
Speaker 3: the ethical policy was around investing in arms, so they
Speaker 3: probably be young exactly, you'd probably laugh at you because
Speaker 3: they would absolutely want people investing in arms.
Speaker 2: So it's just a difficult area area for people to
Speaker 2: get It's so easy to virtue signal this stuff as well,
Speaker 2: if you could get a good return. I don't think
Speaker 2: I should ask you this. I'm going to If you
Speaker 2: could get a good return out of an arms manufacturing
Speaker 2: company that was supplying with weapons to you know, Ukraine
Speaker 2: and other countries, how would you feel about it?
Speaker 5: I don't know.
Speaker 3: I'd have to pause because I just think this. Sometimes
Speaker 3: there's we are can be very judgy and say, well,
Speaker 3: that's not right, But then again you look at the
Speaker 3: people and as I say Ukraine as an example, and
Speaker 3: they're trying to defend their livelihood and defend their country,
Speaker 3: and then you sort of pause and thinking, I don't know,
Speaker 3: you know, it's not a necessarily an easy decision.
Speaker 2: Actually there is a text here, I think, and I
Speaker 2: wonder why more people didn't do this because Trump said
Speaker 2: liberation days coming, I'm going to be whacking on tariffs.
Speaker 2: I don't even think we need hindsight to have predicted
Speaker 2: that the markets were not going to react well to that.
Speaker 2: I'm surprised that more people didn't get ahead of it.
Speaker 2: But this person's saying, I pulled my money out three
Speaker 2: weeks ago writing was on the war with lunatic Trump
Speaker 2: probably reinvest when the Democrats will get back in and
Speaker 2: change everything back to normal and the market is settled.
Speaker 2: I don't even think you need to wait that long,
Speaker 2: to be honest. But why do you think more people
Speaker 2: didn't because he literally said, you know, liberation days come
Speaker 2: and we're going to be whacking these tariffs on. Maybe
Speaker 2: we didn't. We weren't sure if he would not, because that's.
Speaker 3: Maybe why the markets have crashed. Awe it too, because
Speaker 3: a lot of people have been taking their money out right.
Speaker 2: So ah, or they took it out after the fact.
Speaker 2: They didn't they as opposed to you.
Speaker 3: But it becomes a bit of a self fulfilling prophecy, though,
Speaker 3: doesn't it, Because people start taking it out, more people
Speaker 3: start taking it out, and then the prices start dropping,
Speaker 3: and that's what's what's.
Speaker 2: Called a crash out. Yet, do you think there's a
Speaker 2: danger that we're really going to see a much more
Speaker 2: problematic fall in the problem in the in the stock market.
Speaker 2: I mean, they're talking about recession in the States and
Speaker 2: all that sixty prediction of recession in the States. Now,
Speaker 2: I don't know, but.
Speaker 3: When these things, if you look back in history, when
Speaker 3: these things happen, we always think the world was ending,
Speaker 3: you know, we all, you know, we always send to
Speaker 3: think that. You know, when COVID happened, you know, like gosh,
Speaker 3: when some of the things in the early days of that,
Speaker 3: everyone was very very pessimve mystic about things, global funancure crisis,
Speaker 3: everything was was completely you know, everything was coming to
Speaker 3: an end, and some people were thinking that, you know,
Speaker 3: they were going to lose all their money in the
Speaker 3: share market. So and it does rebound. So I think
Speaker 3: we tend to be Yeah, I suppose we just tend
Speaker 3: to be a little bit make it a little bit
Speaker 3: too much of a mountain out of a mole hill.
Speaker 3: Sometimes with some of these things, we just need to
Speaker 3: take a breath and ride it through. But again, it
Speaker 3: comes down to your own risk profile. But if you're
Speaker 3: losing sleep over these moments, then maybe that's telling you
Speaker 3: something that you need to be in a more more
Speaker 3: concierble Oh, I think investment strategy.
Speaker 2: I think a loose sleeper have money, full stop, regardless
Speaker 2: where it is. Anyway, eight minutes to Sex News talks,
Speaker 2: it'd be yes, welcome back, Gosh, time flies, Lisa actually
Speaker 2: with somebody who's we're talking about gold and because that's
Speaker 2: the sort of finite source of currency, I guess. But
Speaker 2: the other one is the bitcoin. People often talk about bitcoin.
Speaker 2: What's bitcoin doing it? The mask?
Speaker 3: So but yeah, I've just had a quick look at
Speaker 3: that bitcorin year today it is down ten point seventy
Speaker 3: one percent.
Speaker 2: What's it done in the news of the last sort
Speaker 2: of forty eight hours, last.
Speaker 3: Five days, which I thought it might have gone up,
Speaker 3: Actually it's gone down two point oh five percent in
Speaker 3: the last five days.
Speaker 2: I did get a text from someone. I've been buying
Speaker 2: short positions on the US Exchange, biding the markets for fall,
Speaker 2: and boy is it make trumpet delivered for me. He's
Speaker 2: talking about how much money he's made. That's from that's
Speaker 2: from Andy. But I always think that I'm always suspicious
Speaker 2: of texts that say they've made a lot of money,
Speaker 2: because I'm guessing he will never tell us when he
Speaker 2: loses a bunch too.
Speaker 3: Yeah, well that's what my experience is.
Speaker 2: Yeah, you only hear the good stories unless you are
Speaker 2: a genius Andy, in which case, well done you. That's
Speaker 2: well done. In fact, I think he's such a good
Speaker 2: text he sent it twice anyway, So I guess at
Speaker 2: the moment the advice is it's too late to pull
Speaker 2: it out of key. We save us at tight and
Speaker 2: see where.
Speaker 3: It can't pulled it out of key.
Speaker 2: We saver No, no, don't, that's right, you can't pull
Speaker 2: it out. I mean sorry, don't just don't switch funds.
Speaker 2: That's the one.
Speaker 3: That's the one we've got there at the end.
Speaker 2: Yeah, we've come out with a look, we've found a
Speaker 2: little tune for you actually to hit out because if
Speaker 2: you are feeling a bit stressed about your money, then
Speaker 2: this little chune from mighty Pith and will see us right,
Speaker 2: won't it.
Speaker 3: That's perfect?
Speaker 2: Hey, thanks so much for your time, Lisa. All right,
Speaker 2: you're welcome shore and we'll be back same time next
Speaker 2: weekend Sunday at Sex's next Thanks might producer tire Robits.
Speaker 2: We'll catch you soon. The right side of lone m hmm,
Speaker 2: always the wrong the r s.
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