1 00:00:04,160 --> 00:00:08,160 Speaker 1: Did we make the worst tank in all of military history. 2 00:00:09,280 --> 00:00:12,559 Speaker 1: During World War II, Artua was nervous with talk of 3 00:00:12,600 --> 00:00:15,160 Speaker 1: a Japanese invasion. We weren't very well armed and the 4 00:00:15,160 --> 00:00:18,560 Speaker 1: Brits didn't have any big guns to spare. Minister of 5 00:00:18,560 --> 00:00:22,479 Speaker 1: Works Bob Semple was particularly worried, in his words, we 6 00:00:22,560 --> 00:00:25,479 Speaker 1: had insufficient strength to protect a current bun from the 7 00:00:25,520 --> 00:00:28,880 Speaker 1: attack of a blowfly. When he came across an American 8 00:00:28,920 --> 00:00:31,600 Speaker 1: postcard that showed a tractor converted to a tank, he 9 00:00:31,680 --> 00:00:35,440 Speaker 1: was inspired. With sheets of corrugated iron and a handy tractor, 10 00:00:35,880 --> 00:00:39,440 Speaker 1: Bob and his engineer, a specialist in irrigation systems, rigged 11 00:00:39,520 --> 00:00:42,520 Speaker 1: up the slap dash armored vehicle known as the Bob 12 00:00:42,560 --> 00:00:47,440 Speaker 1: Semple Tank. It was tall, unstable, and top heavy. It 13 00:00:47,600 --> 00:00:50,519 Speaker 1: sort of looked like a garden shed on wheels. Its 14 00:00:50,560 --> 00:00:53,800 Speaker 1: wobbliness made it almost impossible to aim the guns. It 15 00:00:53,840 --> 00:00:55,640 Speaker 1: needed a crew of eight, which has a lot of 16 00:00:55,640 --> 00:00:58,280 Speaker 1: guys to fit inside attractor, so one of the gunners 17 00:00:58,280 --> 00:01:00,240 Speaker 1: would need to lie down at all times on top 18 00:01:00,240 --> 00:01:03,440 Speaker 1: of the very hot engine. There was also no hatch, 19 00:01:03,680 --> 00:01:06,080 Speaker 1: so everyone would probably burn to a crisp if this 20 00:01:06,200 --> 00:01:09,520 Speaker 1: large lumbering target were hit by enemy fire, it had 21 00:01:09,520 --> 00:01:12,520 Speaker 1: to stop to change gear. Its stubby little guns looked 22 00:01:12,600 --> 00:01:15,240 Speaker 1: more likely to squirt out a dollop of tomatoes sauce 23 00:01:15,280 --> 00:01:17,959 Speaker 1: than to fire a live round. The tank was paraded 24 00:01:17,959 --> 00:01:20,280 Speaker 1: through New Zealand cities to rally public support for the 25 00:01:20,319 --> 00:01:24,240 Speaker 1: war effort. The public, in turn took the piss and 26 00:01:24,319 --> 00:01:27,039 Speaker 1: Bob's political rivals used it all as ammunition against him 27 00:01:27,040 --> 00:01:29,800 Speaker 1: in parliament. The three prototypes that were built never saw 28 00:01:29,800 --> 00:01:32,959 Speaker 1: a fight, but Bob always stood by his design, saying 29 00:01:33,360 --> 00:01:36,520 Speaker 1: I had the vision to try, while others were just sniveling. 30 00:01:37,280 --> 00:01:40,039 Speaker 1: And later historians would actually applaud what a former coal 31 00:01:40,080 --> 00:01:43,000 Speaker 1: miner and an agricultural engineer had come up with using 32 00:01:43,040 --> 00:01:47,360 Speaker 1: farming equipment and scrap metal. But if you don't actually 33 00:01:47,400 --> 00:01:49,600 Speaker 1: know what you're doing, you can only get so far 34 00:01:49,760 --> 00:01:52,080 Speaker 1: on your own. You don't want to bring a tractor 35 00:01:52,120 --> 00:01:52,800 Speaker 1: to a tank fight. 36 00:01:56,000 --> 00:01:57,920 Speaker 2: You know what I love about that is how much 37 00:01:57,960 --> 00:02:00,840 Speaker 2: we've covered that story up, because I I've never heard 38 00:02:00,880 --> 00:02:02,760 Speaker 2: that before, like I've never heard that we had this. 39 00:02:03,000 --> 00:02:05,000 Speaker 2: Iway was that our number eight wire and a key 40 00:02:05,280 --> 00:02:06,800 Speaker 2: ingenuity was something to be praised. 41 00:02:06,840 --> 00:02:09,680 Speaker 1: But in that case, you clearly haven't been talking to 42 00:02:09,840 --> 00:02:15,040 Speaker 1: tank guys because this tank is absolutely notorious and like 43 00:02:15,240 --> 00:02:19,520 Speaker 1: online military nerd forums, Who do you meet this tank guys, 44 00:02:19,520 --> 00:02:20,560 Speaker 1: because I'll introduce you. 45 00:02:21,760 --> 00:02:24,240 Speaker 2: Well, this is the final installment of the Wealth Caack. 46 00:02:24,520 --> 00:02:26,880 Speaker 2: We've met a bunch of experts and personalities. We've looked 47 00:02:26,880 --> 00:02:28,320 Speaker 2: at how to figure out what you want and where 48 00:02:28,360 --> 00:02:30,480 Speaker 2: you're at. We've talked about building a budget that reflects 49 00:02:30,520 --> 00:02:33,560 Speaker 2: your goals, and we've talked retirement and investing. 50 00:02:33,639 --> 00:02:35,880 Speaker 1: To close out the series, we are going to talk 51 00:02:35,960 --> 00:02:40,520 Speaker 1: about getting the professionals involved. When should you start to say, hey, 52 00:02:40,720 --> 00:02:42,400 Speaker 1: maybe it's time to get some advice. 53 00:02:42,680 --> 00:02:45,480 Speaker 2: Money can be pretty private, and your money decisions, obviously, 54 00:02:45,480 --> 00:02:47,520 Speaker 2: can have a big impact on your life and your future, 55 00:02:47,720 --> 00:02:50,760 Speaker 2: and you want your financial advisor to be someone who 56 00:02:50,800 --> 00:02:54,160 Speaker 2: you can trust and someone that you feel comfortable with. 57 00:02:54,400 --> 00:02:56,840 Speaker 2: Before we get into it, Investing involves risk. You might 58 00:02:56,880 --> 00:02:59,040 Speaker 2: lose the money you start with. We recommend talking to 59 00:02:59,080 --> 00:03:02,760 Speaker 2: a licensed financial advisor, and we also recommend reading product 60 00:03:02,760 --> 00:03:06,520 Speaker 2: disclosure documents before deciding to invest. Everything in today's episode 61 00:03:06,919 --> 00:03:11,960 Speaker 2: is current at the time of recording. Well, let's return 62 00:03:12,080 --> 00:03:15,800 Speaker 2: to Reagan White. Reagan has first hand experience using a 63 00:03:15,840 --> 00:03:19,040 Speaker 2: financial advisor, so we thought it'd find out how important 64 00:03:19,240 --> 00:03:20,400 Speaker 2: was it on his journey. 65 00:03:20,480 --> 00:03:22,560 Speaker 3: People have come at me going why would I pay 66 00:03:22,560 --> 00:03:24,840 Speaker 3: for financial advice in the world of Googlers. There it's like, 67 00:03:25,000 --> 00:03:28,000 Speaker 3: that's entirely true. There are free tools available, but that 68 00:03:28,360 --> 00:03:31,120 Speaker 3: completely objective look a human that can go through your 69 00:03:31,200 --> 00:03:33,280 Speaker 3: numbers and go if you want to go here. They 70 00:03:33,280 --> 00:03:35,800 Speaker 3: can eject a little bit of ambition into you, but 71 00:03:36,400 --> 00:03:39,040 Speaker 3: there's no emotion attached to the numbers. They can understand 72 00:03:39,080 --> 00:03:40,360 Speaker 3: your emotions and take them on board. 73 00:03:40,400 --> 00:03:41,320 Speaker 2: And I've seen it all before. 74 00:03:41,480 --> 00:03:44,600 Speaker 3: I've seen it all. There's no judgment. You need someone 75 00:03:44,640 --> 00:03:46,120 Speaker 3: to help you to see the wood for the trees, 76 00:03:46,200 --> 00:03:49,160 Speaker 3: like that third eye of perspective is so critical. We 77 00:03:49,240 --> 00:03:51,160 Speaker 3: just needed someone else to look at the numbers totally 78 00:03:51,200 --> 00:03:53,880 Speaker 3: objectively and go. We needed someone to tell us what 79 00:03:53,920 --> 00:03:56,080 Speaker 3: to do. Basically, it's like, sort you shit out. You 80 00:03:56,120 --> 00:03:56,880 Speaker 3: have to do this now. 81 00:03:57,320 --> 00:04:00,320 Speaker 1: We are going to hear from Belly, from the Jesus 82 00:04:00,360 --> 00:04:03,120 Speaker 1: cay we save a team again. We asked Billy how 83 00:04:03,160 --> 00:04:05,560 Speaker 1: to go about finding a financial advisor who's a good 84 00:04:05,600 --> 00:04:06,040 Speaker 1: fit for you. 85 00:04:06,360 --> 00:04:09,320 Speaker 4: The first one would be word of mouth, so you know, 86 00:04:09,400 --> 00:04:12,040 Speaker 4: talking to your friends, talking to your family, talking to 87 00:04:12,080 --> 00:04:15,760 Speaker 4: your coworkers and asking if thev haird financial advice and 88 00:04:15,960 --> 00:04:19,120 Speaker 4: what that experience was like do they recommend them? That's 89 00:04:19,160 --> 00:04:22,520 Speaker 4: not an option online search. So Financial Advice New Zealand 90 00:04:22,600 --> 00:04:26,280 Speaker 4: have a directory of advisors where you can select the location, 91 00:04:26,839 --> 00:04:29,640 Speaker 4: the type of advice you're after, whether that's mortgages, life 92 00:04:29,680 --> 00:04:33,720 Speaker 4: insurance or investments. My take on it is look for 93 00:04:34,120 --> 00:04:36,960 Speaker 4: maybe two or three advisors and get in touch with them, 94 00:04:37,160 --> 00:04:40,200 Speaker 4: and that first meeting is generally free, where it's a 95 00:04:40,200 --> 00:04:44,160 Speaker 4: good opportunity to work out whether they are a fit 96 00:04:44,279 --> 00:04:48,000 Speaker 4: for you as from an advisor perspective, but also a 97 00:04:48,040 --> 00:04:51,960 Speaker 4: personality perspective, because you want to be able to be 98 00:04:52,080 --> 00:04:56,040 Speaker 4: comfortable to ask that advisor any question. What an advisor 99 00:04:56,080 --> 00:05:00,680 Speaker 4: should be doing is asking and listening to you what 100 00:05:00,800 --> 00:05:04,600 Speaker 4: goals you want to achieve throughout life and at retirement. 101 00:05:04,880 --> 00:05:08,440 Speaker 4: What are your values? What makes you uncomfortable financially? What 102 00:05:08,520 --> 00:05:11,400 Speaker 4: makes you feel secure? So that's sort of like trying 103 00:05:11,400 --> 00:05:13,840 Speaker 4: to get an idea of the risk profile, what your 104 00:05:13,880 --> 00:05:16,600 Speaker 4: current situation is at the moment, like do you how 105 00:05:16,600 --> 00:05:20,960 Speaker 4: many kids dependence? Do you have a partner, what's your income, 106 00:05:21,200 --> 00:05:26,320 Speaker 4: what's your debt and with all this information and financial advisor, 107 00:05:26,360 --> 00:05:29,840 Speaker 4: we'll be about to take this away and Taylor a 108 00:05:29,880 --> 00:05:34,000 Speaker 4: holistic financial plan that will meet all of the goals, 109 00:05:34,279 --> 00:05:36,880 Speaker 4: not just at retirement, but throughout your life. 110 00:05:38,640 --> 00:05:42,000 Speaker 2: Next guest, we're black with Ed Glennie. Ed invited us 111 00:05:42,000 --> 00:05:44,040 Speaker 2: to the Auckland Water Ski Club where here's a member 112 00:05:44,240 --> 00:05:45,360 Speaker 2: to get that summer feeling. 113 00:05:45,520 --> 00:05:47,840 Speaker 1: All right, we're having a full circle moment here. This 114 00:05:47,920 --> 00:05:50,480 Speaker 1: is actually a callback to earlier in the series Asher. 115 00:05:51,160 --> 00:05:52,920 Speaker 1: Where are we right now? What was your perfect day? 116 00:05:53,000 --> 00:05:53,200 Speaker 3: Well? 117 00:05:53,360 --> 00:05:56,680 Speaker 2: My perfect day, Laura was? I said, any day that 118 00:05:56,720 --> 00:05:59,719 Speaker 2: you're on a boats, you know you've done well, You've 119 00:05:59,720 --> 00:06:02,560 Speaker 2: done a job, And yes, I would consider that a 120 00:06:02,560 --> 00:06:04,320 Speaker 2: perfect day. And right now I am on a boat. 121 00:06:04,400 --> 00:06:04,800 Speaker 1: You've done it. 122 00:06:06,400 --> 00:06:08,680 Speaker 5: Very close to whom too exactly what a. 123 00:06:08,680 --> 00:06:11,320 Speaker 2: Lovely spot this is in the old Aki basin here 124 00:06:11,360 --> 00:06:13,960 Speaker 2: in Auckland and bank your head the treasurer of the 125 00:06:13,960 --> 00:06:19,880 Speaker 2: Auckland Water Ski Club. He might have signed me up, Laura. 126 00:06:18,880 --> 00:06:23,960 Speaker 1: He is an actual real life financial advisor. He has 127 00:06:24,000 --> 00:06:26,080 Speaker 1: a pretty good idea of what you should be looking for. 128 00:06:26,320 --> 00:06:28,400 Speaker 2: So we asked, what are the green flags and what 129 00:06:28,440 --> 00:06:31,080 Speaker 2: are the red flags when looking for a financial advisor? 130 00:06:31,839 --> 00:06:34,560 Speaker 5: Red flags definitely is if you're talking to an advisor 131 00:06:34,600 --> 00:06:37,400 Speaker 5: and they just don't listen to what you're actually there for. 132 00:06:37,720 --> 00:06:40,080 Speaker 5: You find some that will just talk talk up their 133 00:06:40,080 --> 00:06:42,200 Speaker 5: experience or how they can help you, but they don't 134 00:06:42,200 --> 00:06:45,160 Speaker 5: actually listen to hear what you want them to help 135 00:06:45,200 --> 00:06:48,040 Speaker 5: you with, and so I think that really is something 136 00:06:48,279 --> 00:06:50,320 Speaker 5: on the green flag side is you want an advisor 137 00:06:50,360 --> 00:06:54,480 Speaker 5: who can listen to you, takes notes, actually understands what 138 00:06:54,520 --> 00:06:56,800 Speaker 5: you're there for and what you're trying to achieve. They 139 00:06:56,839 --> 00:06:59,839 Speaker 5: then investigate and then make sure they've done relevant analysis 140 00:06:59,839 --> 00:07:01,719 Speaker 5: for circumstances, and they'll come back to you with a 141 00:07:01,720 --> 00:07:05,440 Speaker 5: proper plan. You want to also make sure that they're qualified. 142 00:07:05,800 --> 00:07:08,240 Speaker 5: You can check that that the advisor's got the right 143 00:07:08,400 --> 00:07:12,600 Speaker 5: certification through a register. It's available online. I think the 144 00:07:12,600 --> 00:07:17,240 Speaker 5: other thing is someone that over promises. In this day 145 00:07:17,280 --> 00:07:20,080 Speaker 5: and age, you don't want an advisor. There's no thing 146 00:07:20,080 --> 00:07:22,880 Speaker 5: as a guaranteed return. So I think a good advisor 147 00:07:22,920 --> 00:07:25,320 Speaker 5: is someone in a green flag is really around someone 148 00:07:25,360 --> 00:07:29,520 Speaker 5: that can explain what risk means and actually give you 149 00:07:29,640 --> 00:07:33,320 Speaker 5: quite a realistic expectation of what you can hopefully achieve 150 00:07:33,920 --> 00:07:36,680 Speaker 5: from the financial plan that they put together for you. 151 00:07:37,720 --> 00:07:40,239 Speaker 5: That's something really that is quite key. If they start 152 00:07:40,280 --> 00:07:43,400 Speaker 5: promising all sorts of things, often that can be a 153 00:07:43,400 --> 00:07:43,960 Speaker 5: red flag. 154 00:07:44,320 --> 00:07:47,520 Speaker 2: How do financial advisors get paid? I mean is it 155 00:07:47,560 --> 00:07:51,320 Speaker 2: a matter of you know, you the client paying the 156 00:07:51,320 --> 00:07:53,520 Speaker 2: financial advisor, or is there more to it. 157 00:07:53,520 --> 00:07:57,200 Speaker 5: It varies how advisors get paid. I mean quite often 158 00:07:57,640 --> 00:08:00,000 Speaker 5: in in New Zealand context, a financial advisor will get 159 00:08:00,080 --> 00:08:02,400 Speaker 5: paid based on the assets that they look after for 160 00:08:02,440 --> 00:08:05,200 Speaker 5: the client. There are also models where there's sort of 161 00:08:05,200 --> 00:08:08,280 Speaker 5: a fixed figure that depending on the nature of the advice. 162 00:08:08,360 --> 00:08:12,200 Speaker 5: I think what is not fully understood is that actually 163 00:08:12,320 --> 00:08:15,800 Speaker 5: it's often deductible from your portfolio, so it's not actually 164 00:08:15,840 --> 00:08:19,400 Speaker 5: something that you have to pay from your own back pocket. 165 00:08:19,440 --> 00:08:22,120 Speaker 5: And I think that's something that people get hung up about. Oh, 166 00:08:22,200 --> 00:08:24,080 Speaker 5: forget a financial advisor. It going to be really costly. 167 00:08:24,920 --> 00:08:29,120 Speaker 5: Often the costs are actually embedded within the portfolio, so 168 00:08:29,240 --> 00:08:32,280 Speaker 5: you own a bunch of shares as long as they 169 00:08:32,280 --> 00:08:34,840 Speaker 5: may pay dividends, and those dividends that get paid go 170 00:08:34,960 --> 00:08:38,160 Speaker 5: to paying the fees. You don't necessarily want an advisor 171 00:08:38,200 --> 00:08:41,160 Speaker 5: who can only sell a certain type of product and 172 00:08:41,200 --> 00:08:44,000 Speaker 5: they're not being fully transparent around the fees. That's a 173 00:08:44,080 --> 00:08:46,559 Speaker 5: red flag. Is you really want someone to be quite 174 00:08:46,600 --> 00:08:51,960 Speaker 5: clear how they get renumerated and they're not only offering 175 00:08:52,000 --> 00:08:54,120 Speaker 5: this product because that's the only product that they offer. 176 00:08:54,160 --> 00:08:56,880 Speaker 5: And look in a key you saver context, you often 177 00:08:56,920 --> 00:08:59,080 Speaker 5: will get an advisor that only works with that provider. 178 00:09:00,080 --> 00:09:03,160 Speaker 5: They can only really then recommend that provider under their license. 179 00:09:03,679 --> 00:09:06,200 Speaker 5: I work across providers, which means you can sort of 180 00:09:06,240 --> 00:09:08,880 Speaker 5: look at other ones. That's also something to be quite 181 00:09:08,960 --> 00:09:09,360 Speaker 5: wary of. 182 00:09:09,640 --> 00:09:12,319 Speaker 1: And ed, you've been doing this for a little while, 183 00:09:13,080 --> 00:09:16,480 Speaker 1: how have you seen financial advice make a real difference 184 00:09:16,480 --> 00:09:17,480 Speaker 1: in people's lives. 185 00:09:18,200 --> 00:09:20,000 Speaker 5: It makes a big difference, and I think really it 186 00:09:20,040 --> 00:09:24,120 Speaker 5: advises just helping you navigate those financial issues that that's 187 00:09:24,160 --> 00:09:26,839 Speaker 5: not most people's day job. And look, I see it 188 00:09:26,880 --> 00:09:29,080 Speaker 5: all the time. Sometimes we'll meet someone and they go 189 00:09:29,160 --> 00:09:31,840 Speaker 5: away and they sort of they're not too sure, and 190 00:09:31,880 --> 00:09:34,560 Speaker 5: it can take quite a long time to actually get 191 00:09:34,559 --> 00:09:37,680 Speaker 5: that comfort level up, which is best for both people, 192 00:09:38,080 --> 00:09:40,440 Speaker 5: both parties. A lot of clients that will have come 193 00:09:40,440 --> 00:09:43,319 Speaker 5: from quite different backgrounds. You'll have some with a lot 194 00:09:43,320 --> 00:09:46,160 Speaker 5: of money, some with not a lot of money. I 195 00:09:46,200 --> 00:09:48,840 Speaker 5: know I can help either of them, but it is 196 00:09:48,920 --> 00:09:53,160 Speaker 5: just something that actually getting that across to people. As 197 00:09:53,200 --> 00:09:56,960 Speaker 5: I say, how you navigate financial markets, it is really 198 00:09:57,000 --> 00:09:58,400 Speaker 5: quite a specialty. 199 00:09:59,000 --> 00:10:02,040 Speaker 2: And if you struggle with your financial advisor, well here's 200 00:10:02,080 --> 00:10:02,720 Speaker 2: Reagan again. 201 00:10:02,960 --> 00:10:05,560 Speaker 3: I guess I've spoken with a couple of advisors in 202 00:10:05,600 --> 00:10:10,520 Speaker 3: my time, and it's not taboo. It's not a bad 203 00:10:10,559 --> 00:10:13,360 Speaker 3: thing to like fire your advisor and find another one. 204 00:10:13,880 --> 00:10:15,679 Speaker 3: You know, it sounds a bit mean because it's their 205 00:10:15,720 --> 00:10:18,120 Speaker 3: livelihood as well, but yeah, if you find an advisor 206 00:10:18,160 --> 00:10:20,800 Speaker 3: that's really going to motivate you and help you play 207 00:10:20,800 --> 00:10:24,400 Speaker 3: the game and feel like you're attacking your mortgage, we like, 208 00:10:24,760 --> 00:10:27,160 Speaker 3: find someone else, it's all good. They're going to go 209 00:10:27,240 --> 00:10:29,280 Speaker 3: and find their commission elsewhere. Like if you find someone 210 00:10:29,320 --> 00:10:32,040 Speaker 3: who really helps you, helps motivate you, move towards your 211 00:10:32,040 --> 00:10:36,000 Speaker 3: goal and just and build your strategy to I feel 212 00:10:36,000 --> 00:10:38,600 Speaker 3: like a lot of advisors might be quite transactional, like 213 00:10:38,640 --> 00:10:40,800 Speaker 3: sitting up when we'll talk in twelve months, but the 214 00:10:40,800 --> 00:10:44,080 Speaker 3: one who checks in on you and how we going is, Yeah, 215 00:10:44,160 --> 00:10:46,920 Speaker 3: that's where I think an actual advisor going right, And 216 00:10:47,120 --> 00:10:49,480 Speaker 3: we're going to shorten the term of your mortgage to 217 00:10:50,160 --> 00:10:53,880 Speaker 3: twenty years from thirty's cutting you. We're cutting ten years 218 00:10:53,920 --> 00:10:57,319 Speaker 3: off your debt, saving you six hundred thousand dollars an interest, 219 00:10:57,320 --> 00:11:00,679 Speaker 3: you know, like present me. Those numbers get me excited 220 00:11:00,720 --> 00:11:02,000 Speaker 3: about trying to get rid of it. Make it a 221 00:11:02,040 --> 00:11:04,240 Speaker 3: game because I want to win the game. I don't 222 00:11:04,280 --> 00:11:06,840 Speaker 3: just settle for thirty years. 223 00:11:06,960 --> 00:11:14,559 Speaker 2: Go Now, Before we wrap up this episode and series 224 00:11:14,679 --> 00:11:18,120 Speaker 2: of The Wealth Caare, we thought we'd invite Cheersa's co 225 00:11:18,640 --> 00:11:22,560 Speaker 2: founder and three Brook Roberts back on the podcast to 226 00:11:22,640 --> 00:11:24,640 Speaker 2: talk all things wealth. 227 00:11:24,840 --> 00:11:27,800 Speaker 1: Okay, Brooke, people might have heard Cheersy's being referred to 228 00:11:28,120 --> 00:11:30,920 Speaker 1: as a wealth app. What does wealth mean to us 229 00:11:30,960 --> 00:11:31,360 Speaker 1: at Chaseea. 230 00:11:31,760 --> 00:11:35,280 Speaker 6: Yeah, we really want to reclaim that word wealth and 231 00:11:35,360 --> 00:11:38,800 Speaker 6: reset it. You know, wealth is our health, our relationships 232 00:11:39,000 --> 00:11:42,040 Speaker 6: and our connection with our people and environment and a 233 00:11:42,040 --> 00:11:45,000 Speaker 6: really important part of our health too. And money it 234 00:11:45,040 --> 00:11:48,280 Speaker 6: does play a part in our wealth. Financial stress can 235 00:11:48,320 --> 00:11:52,400 Speaker 6: be really compassome for people and cause health issues. And 236 00:11:52,440 --> 00:11:56,160 Speaker 6: also money is so relational, like the experiences we get 237 00:11:56,160 --> 00:11:58,640 Speaker 6: to share because we've saved up and been able to 238 00:11:59,080 --> 00:12:02,720 Speaker 6: go to a concert together, or go and attend a 239 00:12:02,840 --> 00:12:05,000 Speaker 6: kid's sports or whatever it might be. Like, it all 240 00:12:05,040 --> 00:12:07,720 Speaker 6: does take money to get there, whether it be petrol 241 00:12:07,840 --> 00:12:10,880 Speaker 6: or travel. There is a currency of money in there, 242 00:12:11,160 --> 00:12:14,040 Speaker 6: and so for us, like we see wealth being connected 243 00:12:14,320 --> 00:12:16,600 Speaker 6: in one place and people being connected together through their 244 00:12:16,640 --> 00:12:19,800 Speaker 6: wealth as a real crucial way to help people have 245 00:12:19,880 --> 00:12:22,080 Speaker 6: the opportunities they want a life and share the opportunities 246 00:12:22,120 --> 00:12:23,840 Speaker 6: that they want to be able to share within their 247 00:12:23,880 --> 00:12:26,840 Speaker 6: life or within their legacy. So wealth is pretty all 248 00:12:26,960 --> 00:12:29,640 Speaker 6: encompassing when it comes to the Wealth app. It means 249 00:12:29,679 --> 00:12:32,480 Speaker 6: to us that we create this space where people can 250 00:12:33,280 --> 00:12:36,360 Speaker 6: grow wealth, they can save, they can invest, and they 251 00:12:36,400 --> 00:12:40,120 Speaker 6: can spend their wealth and feel really in control of 252 00:12:40,160 --> 00:12:42,880 Speaker 6: that and know that when they're spending that they can 253 00:12:42,920 --> 00:12:46,839 Speaker 6: also be investing alongside that, especially with our investment program 254 00:12:46,920 --> 00:12:49,000 Speaker 6: at the moment. There's so many different ways that we 255 00:12:49,080 --> 00:12:51,800 Speaker 6: interact with money and how relationships will form, but we 256 00:12:51,920 --> 00:12:53,480 Speaker 6: are working on a lot of that at the moment, 257 00:12:53,679 --> 00:12:56,719 Speaker 6: and we want to help people who are in relationships 258 00:12:56,800 --> 00:12:59,359 Speaker 6: to manage their money together. We want to help flatmates, 259 00:12:59,400 --> 00:13:01,520 Speaker 6: we want to help sports communities, we want to have 260 00:13:01,600 --> 00:13:04,960 Speaker 6: investment clubs. So yeah, there's a lot in what wealth 261 00:13:05,000 --> 00:13:06,680 Speaker 6: means to us and what the Wealth app will be. 262 00:13:06,800 --> 00:13:09,480 Speaker 1: So watch this face, Yeah very much. So you mentioned 263 00:13:09,559 --> 00:13:12,160 Speaker 1: invest back. Can we just dig in a little bit 264 00:13:12,240 --> 00:13:16,480 Speaker 1: more on exactly what investpect is. It's quite a novel concept. Yeah, 265 00:13:16,520 --> 00:13:19,040 Speaker 1: and also how that kind of like brings the wealth 266 00:13:19,080 --> 00:13:20,199 Speaker 1: app idea to life. 267 00:13:20,360 --> 00:13:24,040 Speaker 6: Yeah, this is an innovation we brought to our hero 268 00:13:24,480 --> 00:13:26,480 Speaker 6: in twenty twenty five. You know, it's something that we're 269 00:13:26,480 --> 00:13:28,280 Speaker 6: really proud of at the moment, I think because it's 270 00:13:28,400 --> 00:13:31,600 Speaker 6: really changing the way. Then what's the kind of status 271 00:13:31,679 --> 00:13:34,000 Speaker 6: quo that's been out there? So what is it? So 272 00:13:34,160 --> 00:13:37,240 Speaker 6: we've launched a debit cart and so you can start 273 00:13:37,280 --> 00:13:40,439 Speaker 6: to spend on your everyday items using your spend account. 274 00:13:40,640 --> 00:13:43,520 Speaker 6: Every time you spend money, one percent of that is 275 00:13:43,600 --> 00:13:45,520 Speaker 6: going to be invested and you can choose what to 276 00:13:45,520 --> 00:13:48,600 Speaker 6: invest that in. So you can choose whether anything that 277 00:13:48,640 --> 00:13:51,200 Speaker 6: you want to invest in on the Shoesies platform. And 278 00:13:51,240 --> 00:13:54,120 Speaker 6: what's really great, we're not rounding up your money and 279 00:13:54,160 --> 00:13:57,240 Speaker 6: saying we're going to you know, invest your money. It's ours. 280 00:13:57,280 --> 00:13:59,920 Speaker 6: So like you know, you spend one hundred dollars, one 281 00:14:00,080 --> 00:14:03,440 Speaker 6: dollar gets invested into your investment portfolio and that just 282 00:14:03,559 --> 00:14:05,240 Speaker 6: takes up every time, and it doesn't have to be 283 00:14:05,320 --> 00:14:07,800 Speaker 6: a fullmount. You could spend a dollar twenty or you 284 00:14:07,840 --> 00:14:10,040 Speaker 6: could buy a coffee, which you know now these days 285 00:14:10,040 --> 00:14:10,960 Speaker 6: are like six bucks. 286 00:14:11,240 --> 00:14:12,200 Speaker 3: But you know, every. 287 00:14:12,000 --> 00:14:17,040 Speaker 6: Time you spend one percent is getting invested, and time 288 00:14:17,160 --> 00:14:19,960 Speaker 6: is the most valuable aspect of money, and putting little 289 00:14:20,000 --> 00:14:22,960 Speaker 6: bits away over time is incredibly powerful in the long 290 00:14:23,080 --> 00:14:26,360 Speaker 6: run because of compounding returns. So this is a really 291 00:14:26,440 --> 00:14:29,240 Speaker 6: great way for people to be feeling more confident about spending, 292 00:14:29,320 --> 00:14:31,280 Speaker 6: but also knowing that they're getting something of it bag 293 00:14:31,320 --> 00:14:32,600 Speaker 6: for just living life. 294 00:14:32,840 --> 00:14:37,040 Speaker 2: Yeah, all right, Well that is nearly us on the 295 00:14:37,200 --> 00:14:39,960 Speaker 2: Cheesy's Wealth cack. And before we go, Laura, do we 296 00:14:40,040 --> 00:14:41,960 Speaker 2: have one final activity? 297 00:14:42,320 --> 00:14:42,560 Speaker 7: Ah? 298 00:14:42,640 --> 00:14:44,080 Speaker 1: Kind of yeah. We thought we'd let you off the 299 00:14:44,080 --> 00:14:45,840 Speaker 1: hook a little bit, seeing as it's the last week. 300 00:14:46,000 --> 00:14:48,240 Speaker 1: We don't have any homework for you, per se. We 301 00:14:48,320 --> 00:14:50,680 Speaker 1: didn't want to kind of encourage you to just keep 302 00:14:50,680 --> 00:14:54,280 Speaker 1: the conversation going in your own life. Talk to your friends, 303 00:14:54,320 --> 00:14:57,760 Speaker 1: talk to your family about money, about investing, about Kui saver, 304 00:14:58,080 --> 00:15:00,560 Speaker 1: about your future. The more that we talk about it, 305 00:15:00,560 --> 00:15:02,840 Speaker 1: the more comfortable that we get talking about it, and 306 00:15:02,880 --> 00:15:04,200 Speaker 1: the more that we can learn from each other and 307 00:15:04,480 --> 00:15:04,960 Speaker 1: how each other. 308 00:15:05,240 --> 00:15:08,040 Speaker 2: One thing I did want to say was we also 309 00:15:08,120 --> 00:15:09,359 Speaker 2: do have a few resources. 310 00:15:09,640 --> 00:15:12,200 Speaker 1: Yeah, if you want to keep the wealthcake going, if 311 00:15:12,200 --> 00:15:14,160 Speaker 1: you feel in like you've got some momentum going. On 312 00:15:14,400 --> 00:15:17,520 Speaker 1: the Chezy's website under the learn section, there's heaps of 313 00:15:17,560 --> 00:15:21,880 Speaker 1: resources there on investing, on retirement, on all sorts of 314 00:15:22,160 --> 00:15:25,800 Speaker 1: money matters. We also did actually write a book, not 315 00:15:25,920 --> 00:15:30,600 Speaker 1: ASA and I, but the Chesa's Guide to Investing is available. 316 00:15:30,720 --> 00:15:32,680 Speaker 2: That's right, it's available. You can hunt it down. And 317 00:15:32,720 --> 00:15:35,600 Speaker 2: we also have a lot of great learning resources on 318 00:15:35,640 --> 00:15:38,440 Speaker 2: the Chasy's website. In the Chezy's app, you can listen 319 00:15:38,480 --> 00:15:40,400 Speaker 2: to the Shared Lunch podcast, you can listen to the 320 00:15:40,440 --> 00:15:42,840 Speaker 2: payoff and also of course we would love to hear 321 00:15:42,920 --> 00:15:45,840 Speaker 2: from You can email us Shared Lunch at Chezy's dot 322 00:15:45,840 --> 00:15:48,480 Speaker 2: com in zed. You can follow us on TikTok or 323 00:15:48,640 --> 00:15:51,840 Speaker 2: Facebook or of course Instagram or even LinkedIn as well, 324 00:15:51,880 --> 00:15:53,440 Speaker 2: so you can connect with us that way as well. 325 00:15:53,520 --> 00:15:57,160 Speaker 1: Okay, I guess that's a wrap for the Wealthcake. The 326 00:15:57,240 --> 00:16:00,240 Speaker 1: year is well and truly underway. We have the seriahes 327 00:16:00,280 --> 00:16:03,040 Speaker 1: has helped you get i don't know, a fresh lease 328 00:16:03,040 --> 00:16:05,560 Speaker 1: on your finances, maybe even see some things in a 329 00:16:05,600 --> 00:16:06,000 Speaker 1: new light. 330 00:16:06,320 --> 00:16:09,280 Speaker 2: It's been awesome bringing this to you and we have 331 00:16:09,320 --> 00:16:12,280 Speaker 2: sort of sacrifice down January to do it, but it 332 00:16:12,360 --> 00:16:14,760 Speaker 2: has been worth it. I hope that you have enjoyed 333 00:16:14,760 --> 00:16:17,640 Speaker 2: yourself and of course Shared Lunch is back in action 334 00:16:18,200 --> 00:16:22,800 Speaker 2: from our next episode, so don't go in yet. Thank 335 00:16:22,840 --> 00:16:24,400 Speaker 2: you Laura, Thank you Esha. 336 00:16:24,960 --> 00:16:25,640 Speaker 1: One last nime. 337 00:16:27,320 --> 00:16:30,160 Speaker 7: Imagine a world where every dollar you have is working 338 00:16:30,200 --> 00:16:33,640 Speaker 7: towards your wealth goals. Now you can on Cheers E's 339 00:16:34,120 --> 00:16:37,840 Speaker 7: see your shares alongside your kiwisaver, balance, your crypto and 340 00:16:37,920 --> 00:16:40,720 Speaker 7: your savings. And for every dollar you spend on your 341 00:16:40,720 --> 00:16:44,240 Speaker 7: spend card and one percent towards your wealth, your wealth 342 00:16:44,440 --> 00:16:48,760 Speaker 7: finally together on Cheers E's Cheesy's Investment Management Limited. It's 343 00:16:48,800 --> 00:16:51,920 Speaker 7: the issuer of the chasa's Kiwisaver scheme. View the launch 344 00:16:52,000 --> 00:16:53,320 Speaker 7: BBS on our website.