1 00:00:01,000 --> 00:00:04,800 Speaker 1: You're listening to a Share These podcast. This Bonus by 2 00:00:04,840 --> 00:00:08,160 Speaker 1: It continues the conversation between Leason Roberts and Luke Kemy's 3 00:00:08,160 --> 00:00:10,800 Speaker 1: from Keep the Change. You touched on your parents as 4 00:00:10,840 --> 00:00:14,720 Speaker 1: been some of the I guess money motivators or influences 5 00:00:14,760 --> 00:00:17,480 Speaker 1: for you. So were they a big part and your 6 00:00:17,560 --> 00:00:19,480 Speaker 1: understanding of money and how you speak about it now? 7 00:00:19,920 --> 00:00:21,599 Speaker 2: Yeah, for sure. I think we've probably always sort of 8 00:00:21,680 --> 00:00:24,120 Speaker 2: openly talked about money in my family, and it's never 9 00:00:24,160 --> 00:00:27,880 Speaker 2: really been a taboo topic. But you know, one thing 10 00:00:27,880 --> 00:00:29,400 Speaker 2: that I think has really helped me is that my 11 00:00:29,520 --> 00:00:31,840 Speaker 2: parents separated. I know that, you know, sometimes people will 12 00:00:31,840 --> 00:00:33,879 Speaker 2: look at that as a negative, but it's been amazing 13 00:00:33,920 --> 00:00:35,800 Speaker 2: in terms of been able to have different views of 14 00:00:35,840 --> 00:00:38,680 Speaker 2: the world, living with different parents, and then getting new 15 00:00:38,760 --> 00:00:41,800 Speaker 2: sets of grandparents when your parents, you know, find the 16 00:00:41,880 --> 00:00:44,600 Speaker 2: next partner and things like that. And as you get 17 00:00:44,880 --> 00:00:46,800 Speaker 2: I guess a bit more aware, you start to take 18 00:00:46,840 --> 00:00:49,800 Speaker 2: pieces from your parents and your grandparents and how they 19 00:00:49,800 --> 00:00:51,400 Speaker 2: look at things, and then you get to kind of 20 00:00:51,400 --> 00:00:55,120 Speaker 2: study things and that you know, I was studying accounting 21 00:00:55,320 --> 00:00:58,960 Speaker 2: and money and the economy effectively, So it's very normal 22 00:00:59,000 --> 00:01:01,400 Speaker 2: and transactional to talk about these things, Whereas I know 23 00:01:01,440 --> 00:01:04,120 Speaker 2: for a lot of people it's emotional and it's kind 24 00:01:04,120 --> 00:01:05,680 Speaker 2: of you know, we talk about bearing our head in 25 00:01:05,720 --> 00:01:07,319 Speaker 2: the sand and things like that. Whereas I've got to 26 00:01:07,319 --> 00:01:10,040 Speaker 2: have these conversations every single day with clients and I've 27 00:01:10,080 --> 00:01:12,200 Speaker 2: got to try and underline the emotion and get to 28 00:01:12,240 --> 00:01:14,200 Speaker 2: the bottom of why they are making the decisions that 29 00:01:14,200 --> 00:01:16,920 Speaker 2: they're making in their business. And so yeah, I think 30 00:01:16,959 --> 00:01:19,920 Speaker 2: I've got an unfair advantage or accountants do, where we 31 00:01:20,080 --> 00:01:22,360 Speaker 2: have to make sense of this stuff and we can't 32 00:01:22,400 --> 00:01:25,000 Speaker 2: let it be too emotional because otherwise it just gets 33 00:01:25,040 --> 00:01:26,839 Speaker 2: in the way of making practical decisions. 34 00:01:27,080 --> 00:01:28,840 Speaker 1: Maybe we could just get into a little bit about 35 00:01:29,000 --> 00:01:31,800 Speaker 1: the last year or two. I'm super interested from the 36 00:01:31,800 --> 00:01:35,000 Speaker 1: seats that you've been sitting in, like, hey, you've experienced that. 37 00:01:35,200 --> 00:01:36,640 Speaker 2: I think I came back to the office in the 38 00:01:36,640 --> 00:01:38,520 Speaker 2: first week of January and I got on my scooter 39 00:01:38,880 --> 00:01:40,640 Speaker 2: and I went up Queen Street and I just sort 40 00:01:40,640 --> 00:01:43,479 Speaker 2: of said to myself, here we go again, man, because 41 00:01:43,480 --> 00:01:44,880 Speaker 2: I knew it was going to be a grind of 42 00:01:44,880 --> 00:01:47,280 Speaker 2: a year in business and just you know, in general. 43 00:01:47,319 --> 00:01:48,920 Speaker 2: But I I was fired up and I was ready 44 00:01:48,960 --> 00:01:50,480 Speaker 2: to go, and I said to myself at the start 45 00:01:50,520 --> 00:01:52,440 Speaker 2: of this year, I might, Mate, like you need to 46 00:01:52,480 --> 00:01:54,760 Speaker 2: take a break every quarter, get out of the country, 47 00:01:54,880 --> 00:01:57,600 Speaker 2: just have a week off, go to some sun recharge. 48 00:01:57,920 --> 00:02:00,120 Speaker 2: And it got to about July and I'm like, you're 49 00:02:00,120 --> 00:02:01,800 Speaker 2: an idiot, Like you still haven't had a break. And 50 00:02:01,840 --> 00:02:04,240 Speaker 2: I think that's one of the tricky things around business 51 00:02:04,360 --> 00:02:07,240 Speaker 2: is that it's never done. And we know, glamorize self 52 00:02:07,240 --> 00:02:09,320 Speaker 2: employment and stuff, and then we actually end up being 53 00:02:09,360 --> 00:02:11,320 Speaker 2: real excited when we finally get a long weekend or 54 00:02:11,360 --> 00:02:13,840 Speaker 2: a day off or which is like normal for most people, 55 00:02:13,880 --> 00:02:16,680 Speaker 2: and they're talking about five weeks of leave and stuff. 56 00:02:16,680 --> 00:02:19,000 Speaker 2: But yeah, the year has been tough. It has been 57 00:02:19,040 --> 00:02:20,959 Speaker 2: a grind. It has been It's taught me a lot 58 00:02:22,080 --> 00:02:25,919 Speaker 2: around having conversations with businesses that are working through a recession, 59 00:02:25,919 --> 00:02:29,800 Speaker 2: whether that's technical or a real recession, but also just 60 00:02:30,320 --> 00:02:33,440 Speaker 2: pushing hard myself as well to keep growing, keep the change, 61 00:02:33,440 --> 00:02:37,040 Speaker 2: and to grow next advisory and you know, building these audiences. 62 00:02:37,080 --> 00:02:40,160 Speaker 2: And probably the most rewarding thing that I keep reminding 63 00:02:40,200 --> 00:02:42,919 Speaker 2: myself at the moment, Mate, is that when you're building 64 00:02:42,960 --> 00:02:46,920 Speaker 2: an audience, it's like investing, and when someone's ready in 65 00:02:46,960 --> 00:02:49,920 Speaker 2: that audience, then they reach out to you. And I 66 00:02:50,040 --> 00:02:52,280 Speaker 2: get reminded this all the time, with someone might download 67 00:02:52,280 --> 00:02:55,240 Speaker 2: our business planning template in twenty twenty three and then 68 00:02:55,240 --> 00:02:57,200 Speaker 2: they finally get in touch at the back end of 69 00:02:57,240 --> 00:03:00,040 Speaker 2: twenty twenty four. And it's such a good reminder just 70 00:03:00,080 --> 00:03:03,880 Speaker 2: to keep doing the things that work consistently because you 71 00:03:03,919 --> 00:03:07,000 Speaker 2: will get rewarded for it. And I think that you know, 72 00:03:07,040 --> 00:03:10,200 Speaker 2: that really leans into or leads into helping you with 73 00:03:10,240 --> 00:03:12,960 Speaker 2: an investment strategy as well, or to think about that 74 00:03:12,960 --> 00:03:15,960 Speaker 2: stuff because that's actually what life is like rather than 75 00:03:16,040 --> 00:03:18,000 Speaker 2: just kind of how I put some money into this 76 00:03:18,040 --> 00:03:19,880 Speaker 2: stock and hopefully at ten x is over the next 77 00:03:19,880 --> 00:03:20,440 Speaker 2: three months. 78 00:03:20,520 --> 00:03:22,919 Speaker 1: Yeah, it's been a big learning journey for me as well. 79 00:03:23,000 --> 00:03:24,440 Speaker 1: And I've got a couple of quotes that just like 80 00:03:24,520 --> 00:03:26,560 Speaker 1: really stick in my mind at the moment. The first 81 00:03:26,639 --> 00:03:29,560 Speaker 1: one is from one of our shareholders. He told me, 82 00:03:29,600 --> 00:03:31,960 Speaker 1: look late, and nothing's ever as good as what you 83 00:03:32,000 --> 00:03:34,720 Speaker 1: think is, and nothing's ever as bad is what you 84 00:03:34,720 --> 00:03:36,880 Speaker 1: think it's going to be. It's always just somewhere in between. 85 00:03:37,200 --> 00:03:40,200 Speaker 1: And like every time over the last couple of years, 86 00:03:40,280 --> 00:03:43,680 Speaker 1: it's completely relevant for investing, for running a business, but 87 00:03:43,760 --> 00:03:46,120 Speaker 1: just life in general, like once you actually choose to 88 00:03:46,160 --> 00:03:48,600 Speaker 1: tackle something, I find it just ends up being in 89 00:03:48,640 --> 00:03:51,040 Speaker 1: the middle. You know, you have expectations either side that 90 00:03:51,040 --> 00:03:53,560 Speaker 1: don't meet it. What would you say, has he been 91 00:03:53,640 --> 00:03:56,640 Speaker 1: highlights for you? Like in any low lights that really 92 00:03:56,640 --> 00:03:59,320 Speaker 1: stand out over the last twelve months or twenty four. 93 00:03:59,240 --> 00:04:02,680 Speaker 2: Months, probably both sides. I try not to dwell too 94 00:04:02,720 --> 00:04:05,480 Speaker 2: much on low lights as such, and I kind of 95 00:04:05,520 --> 00:04:07,040 Speaker 2: look at them now and just take them as lessons 96 00:04:07,080 --> 00:04:08,640 Speaker 2: and go look at it as what it is. Because 97 00:04:09,000 --> 00:04:10,200 Speaker 2: you know, if we think we're going to get through 98 00:04:10,240 --> 00:04:11,880 Speaker 2: life and it's not going to be tough at some stage, 99 00:04:11,920 --> 00:04:13,920 Speaker 2: or we're not going to have missed opportunities or whatever, 100 00:04:14,400 --> 00:04:17,039 Speaker 2: then we're fooling ourselves, right. So we've just got to 101 00:04:17,360 --> 00:04:19,840 Speaker 2: cop them and get through. It's just the little things that, 102 00:04:20,000 --> 00:04:21,880 Speaker 2: you know, I'm getting people that are reaching out, like, hey, 103 00:04:21,880 --> 00:04:23,080 Speaker 2: if you ever want to come and have a look 104 00:04:23,120 --> 00:04:25,479 Speaker 2: around for new a pai, just let us know. And 105 00:04:25,480 --> 00:04:27,160 Speaker 2: I'm like, oh, actually, you know what, like I kind 106 00:04:27,160 --> 00:04:29,320 Speaker 2: of do, and so you know, I can go and 107 00:04:29,360 --> 00:04:31,680 Speaker 2: do that stuff. And it's like when once you build 108 00:04:31,680 --> 00:04:34,599 Speaker 2: a networking you add enough value to enough people, you 109 00:04:34,640 --> 00:04:36,960 Speaker 2: can solve your problem so much faster. And it's really 110 00:04:36,960 --> 00:04:40,120 Speaker 2: cool to know that, you know, there's these people that 111 00:04:40,200 --> 00:04:42,880 Speaker 2: if I ask for a hand, they'll probably go, I 112 00:04:42,920 --> 00:04:45,240 Speaker 2: can help you with that. And I just think, you know, 113 00:04:45,560 --> 00:04:48,560 Speaker 2: the investing in people's education, what that could do for 114 00:04:48,640 --> 00:04:51,880 Speaker 2: the country over a longer time period rather than just 115 00:04:51,920 --> 00:04:53,679 Speaker 2: sort of in a recession or the here and now. 116 00:04:54,240 --> 00:04:56,320 Speaker 2: We don't really know what we're planting, and we don't 117 00:04:56,360 --> 00:04:58,280 Speaker 2: know what that's going to lead to. And I think 118 00:04:58,279 --> 00:05:00,360 Speaker 2: it's the same with people that are now investing because 119 00:05:00,360 --> 00:05:02,560 Speaker 2: of she is these people that are contributing to key. 120 00:05:02,560 --> 00:05:04,240 Speaker 2: We say, but like, how big is that pot going 121 00:05:04,320 --> 00:05:06,280 Speaker 2: to get all of these things? We're going to look 122 00:05:06,320 --> 00:05:07,800 Speaker 2: back and be like, oh, yeah, well that makes a 123 00:05:07,800 --> 00:05:10,200 Speaker 2: lot of sense, But it doesn't make sense yet because 124 00:05:10,200 --> 00:05:12,520 Speaker 2: we're not into the future. But I feel like we've 125 00:05:12,520 --> 00:05:14,560 Speaker 2: got so much good stuff to look forward to enough 126 00:05:14,560 --> 00:05:16,800 Speaker 2: we can just get through the rest of this sort 127 00:05:16,839 --> 00:05:20,719 Speaker 2: of tough downward cycle of the economy. But at the 128 00:05:20,720 --> 00:05:22,080 Speaker 2: same time, like a lot of people had a lot 129 00:05:22,080 --> 00:05:23,880 Speaker 2: of good lessons through this man, and they like they're 130 00:05:23,880 --> 00:05:25,080 Speaker 2: going to get to bank them and they're going to 131 00:05:25,120 --> 00:05:26,880 Speaker 2: get to take them to the next one. And I 132 00:05:26,920 --> 00:05:29,520 Speaker 2: had a business owner today say like, I just wish 133 00:05:29,640 --> 00:05:31,240 Speaker 2: I was a bit more conservative and the good times 134 00:05:31,279 --> 00:05:33,560 Speaker 2: and put some money aside and exactly what you're saying before. 135 00:05:34,040 --> 00:05:35,960 Speaker 2: So they're like that, that's my lesson. You know, next time, 136 00:05:36,000 --> 00:05:37,560 Speaker 2: I'm not gonna I'm not gonna let this happen. I'm 137 00:05:37,600 --> 00:05:40,280 Speaker 2: not gonna get too carried away. So as an example, 138 00:05:40,360 --> 00:05:42,000 Speaker 2: I sort of put something up on the Keep the 139 00:05:42,080 --> 00:05:45,680 Speaker 2: Change Instagram today explaining about how you know you're only 140 00:05:45,720 --> 00:05:49,000 Speaker 2: one conversation away from losing your job, don't get too cute, 141 00:05:49,120 --> 00:05:52,159 Speaker 2: this whole job security type thing, and actually started getting 142 00:05:52,160 --> 00:05:54,839 Speaker 2: all these replies from people, and then people saying, man, 143 00:05:54,880 --> 00:05:56,800 Speaker 2: I lost my job six months ago. I've just been 144 00:05:56,880 --> 00:05:59,320 Speaker 2: I've just found out that I've been made redundant. I'm like, oh, whoa, 145 00:05:59,360 --> 00:06:01,680 Speaker 2: what if I true here? What's happening out there? But 146 00:06:01,720 --> 00:06:04,200 Speaker 2: all of them then let into but I can lean 147 00:06:04,200 --> 00:06:06,680 Speaker 2: back on my skills. I was ready for this. I've 148 00:06:06,680 --> 00:06:09,200 Speaker 2: got money set aside. This isn't a surprise to me. 149 00:06:09,360 --> 00:06:14,280 Speaker 2: And it was like overwhelmingly positive and optimistic because they've 150 00:06:14,279 --> 00:06:17,840 Speaker 2: got themselves ready, and it's just like that's I think 151 00:06:17,880 --> 00:06:20,680 Speaker 2: the amazing thing about financial education is that you you 152 00:06:21,279 --> 00:06:24,080 Speaker 2: get people ready for situations that you don't want them 153 00:06:24,120 --> 00:06:26,880 Speaker 2: to have. But the beauty of getting ready is that 154 00:06:26,920 --> 00:06:29,719 Speaker 2: if it does happen, now you've got options. And I 155 00:06:29,760 --> 00:06:32,440 Speaker 2: think we'll probably touch on this, but there's probably not 156 00:06:32,560 --> 00:06:35,680 Speaker 2: enough talk in life and in New Zealand about investing 157 00:06:35,880 --> 00:06:37,919 Speaker 2: to give yourself options because everyone's like, oh, what are 158 00:06:37,960 --> 00:06:39,719 Speaker 2: you investing for? What's your goal and stuff? Because that 159 00:06:39,760 --> 00:06:41,200 Speaker 2: kind of gets us on the path and gets us 160 00:06:41,200 --> 00:06:44,279 Speaker 2: thinking about it. But sometimes I just stat cash or 161 00:06:44,680 --> 00:06:47,600 Speaker 2: invest to then think, oh, because one day I'll know 162 00:06:47,640 --> 00:06:49,599 Speaker 2: what I need to do with that cash. And it's 163 00:06:49,600 --> 00:06:52,000 Speaker 2: not like I'm like forgetting about it and never going 164 00:06:52,080 --> 00:06:53,599 Speaker 2: to have a goal or a use for it. But 165 00:06:54,640 --> 00:06:58,119 Speaker 2: when you're investing so that if something happens, you're like great, 166 00:06:58,200 --> 00:06:59,840 Speaker 2: Like now I've got that money there. And it might 167 00:06:59,880 --> 00:07:03,000 Speaker 2: be you know, investing into cash or clearing your debt 168 00:07:03,000 --> 00:07:06,880 Speaker 2: down faster, or into shares or whatever. But I think 169 00:07:06,920 --> 00:07:09,760 Speaker 2: everybody's got this excitement around like I'm investing to grow 170 00:07:09,800 --> 00:07:12,280 Speaker 2: my money or to hit a goal or my targets 171 00:07:12,280 --> 00:07:14,920 Speaker 2: this or whatever. But really, like money is a tool, 172 00:07:15,000 --> 00:07:18,520 Speaker 2: nothing more, nothing less, and when we need that tool, man, 173 00:07:18,560 --> 00:07:20,040 Speaker 2: it is a good feeling to be able to lean 174 00:07:20,080 --> 00:07:22,640 Speaker 2: on that and go I've got cash here and I've 175 00:07:22,680 --> 00:07:23,640 Speaker 2: got options. 176 00:07:24,080 --> 00:07:26,360 Speaker 1: Yeah, that's a great thought. As you were talking there, 177 00:07:26,400 --> 00:07:28,559 Speaker 1: I was like, it's sort of saying that optimism doesn't 178 00:07:28,600 --> 00:07:31,640 Speaker 1: mean complacency. I'd love to hear just your view on 179 00:07:31,720 --> 00:07:35,040 Speaker 1: the change in financial literacy since you've been observing it. 180 00:07:35,760 --> 00:07:38,000 Speaker 2: You know, I reckon over this last few years that 181 00:07:38,440 --> 00:07:41,960 Speaker 2: everyone's been forced to learn about the economy, about inflation, 182 00:07:42,840 --> 00:07:44,840 Speaker 2: and just get a bit closer to it. And I 183 00:07:44,840 --> 00:07:47,040 Speaker 2: think one thing we've done poorly as a country is 184 00:07:47,040 --> 00:07:49,920 Speaker 2: that we got through ourselves through the pandemic and we 185 00:07:49,960 --> 00:07:53,160 Speaker 2: threw everything in at that. And please, like anyone listening, 186 00:07:53,200 --> 00:07:55,440 Speaker 2: don't go political for a second. Just zoom out and 187 00:07:55,520 --> 00:07:58,000 Speaker 2: go like, actually, what we did is we helped everyone 188 00:07:58,000 --> 00:08:00,400 Speaker 2: at one o'clock every day or whatever. Here's what you 189 00:08:00,440 --> 00:08:01,960 Speaker 2: need to do. Here's how close you should get to 190 00:08:02,000 --> 00:08:04,160 Speaker 2: that person, all that stuff, like to the nitty gritty, 191 00:08:04,240 --> 00:08:06,880 Speaker 2: we'll look after you. We're sweet. And then as soon 192 00:08:06,920 --> 00:08:09,360 Speaker 2: as like, okay, we're through it now, and I'm thinking, okay, 193 00:08:09,400 --> 00:08:11,640 Speaker 2: now we need the economic response. What's going to happen 194 00:08:11,880 --> 00:08:14,400 Speaker 2: from the you know, the comdown of this and it's like, see, guys, 195 00:08:14,440 --> 00:08:16,440 Speaker 2: you're on your own. And I kind of think, you know, 196 00:08:16,480 --> 00:08:19,560 Speaker 2: where were the one PM stand ups from some of 197 00:08:19,560 --> 00:08:21,720 Speaker 2: these people who have been through recessions before, some people 198 00:08:21,760 --> 00:08:24,000 Speaker 2: who have dealt with this stuff, and they're like, hey, guys, like, 199 00:08:24,160 --> 00:08:25,920 Speaker 2: here's what you need to get ready for in business. 200 00:08:26,200 --> 00:08:28,520 Speaker 2: And I think that would probably be if we have 201 00:08:28,560 --> 00:08:31,120 Speaker 2: a reflection point as a country, maybe we should have 202 00:08:31,160 --> 00:08:33,679 Speaker 2: pulled some money into education at a high level and 203 00:08:33,720 --> 00:08:35,760 Speaker 2: said one PM, you know, we're going to do one 204 00:08:35,800 --> 00:08:37,880 Speaker 2: a month and be like you need to understand this, 205 00:08:37,920 --> 00:08:40,400 Speaker 2: and here's someone from HR, here's someone from finance, you know, 206 00:08:40,440 --> 00:08:43,440 Speaker 2: here's someone from the investing space or whatever, and make 207 00:08:43,480 --> 00:08:45,880 Speaker 2: a real big song and dance about it and be like, 208 00:08:46,160 --> 00:08:48,200 Speaker 2: infation hasn't been this high for a long time. You 209 00:08:48,280 --> 00:08:50,280 Speaker 2: need to like you need to be tuning in and 210 00:08:50,280 --> 00:08:53,840 Speaker 2: you need to understand what's coming. But I don't know. 211 00:08:53,880 --> 00:08:56,480 Speaker 2: Maybe people just wouldn't care enough. But I do think 212 00:08:56,520 --> 00:08:59,559 Speaker 2: that if we sort of pre warned people. You know, 213 00:08:59,760 --> 00:09:01,800 Speaker 2: I've had a mate last week, so I couldn't believe it, 214 00:09:01,800 --> 00:09:03,280 Speaker 2: we might interest rate went from two and a half 215 00:09:03,320 --> 00:09:05,280 Speaker 2: percent to seven percent, Like what's all that about? Like, 216 00:09:05,360 --> 00:09:08,640 Speaker 2: I didn't do anything wrong, and that's just you know, 217 00:09:08,640 --> 00:09:10,400 Speaker 2: people haven't wanted to learn that stuff and they haven't 218 00:09:10,440 --> 00:09:12,960 Speaker 2: had to, but now they've been forced to, you know, like, 219 00:09:13,000 --> 00:09:15,640 Speaker 2: how come that's happening. So if there's a silver lining 220 00:09:15,640 --> 00:09:18,040 Speaker 2: in it, I do think that people have had such 221 00:09:18,040 --> 00:09:21,040 Speaker 2: a hiding from the economy that has forced them to 222 00:09:21,080 --> 00:09:23,240 Speaker 2: get some of these lessons that for a lot of us, 223 00:09:23,320 --> 00:09:27,000 Speaker 2: we've probably only heard stories through parents and parents, generations 224 00:09:27,040 --> 00:09:28,920 Speaker 2: and things like that where they might talk about it, 225 00:09:28,960 --> 00:09:31,280 Speaker 2: but we haven't really had to feel it until now. 226 00:09:31,640 --> 00:09:34,240 Speaker 1: Investing involves the risk you might lose the money you 227 00:09:34,280 --> 00:09:37,520 Speaker 1: start with. We recommend talking to a licensed financial advisor. 228 00:09:38,280 --> 00:09:42,040 Speaker 1: We also recommend reading product disclosure documents before deciding to invest. 229 00:09:42,360 --> 00:09:44,760 Speaker 1: Everything you're about to see and here is current at 230 00:09:44,760 --> 00:09:45,640 Speaker 1: the time of recording.