WEBVTT - Rupert Carlyon: "Investing can be extremely simple" 0:00:05.761 --> 0:00:19.641 You're listening to the Weekend Collective podcast from News Talks by. 0:00:31.241 --> 0:00:44.521 Day and welcome back to the show. This is the 0:00:44.521 --> 0:00:46.481 Weekend Collector on Tim Beverage. If we missed her, I 0:00:46.521 --> 0:00:50.641 had a fantastic chat with Dr w Weaver on her well, 0:00:50.801 --> 0:00:54.401 she's a nutritional nutritional biochemist. We ended up focusing a 0:00:54.401 --> 0:00:56.761 little bit about just not just burnt out but iron 0:00:57.281 --> 0:00:58.641 and you know, how. 0:00:58.521 --> 0:00:59.441 To eat for. 0:01:01.001 --> 0:01:05.001 A healthy diet, and a bunch of broad ranging conversation 0:01:05.201 --> 0:01:06.401 around that. But you can go and check it out 0:01:06.441 --> 0:01:08.961 on the new Stalksby website or on iHeartRadio just look 0:01:09.001 --> 0:01:13.201 for the Weekend Collective. And for politics, we were joined 0:01:13.201 --> 0:01:15.921 by Erica Stanford to talk about the new parent boostvill 0:01:15.961 --> 0:01:17.881 on the immigration side, where we're going to allow parents 0:01:17.921 --> 0:01:21.361 to come in for longer if they're sponsored by their kids, 0:01:21.921 --> 0:01:23.681 and they're changing a bit there. But also we had 0:01:23.681 --> 0:01:27.481 a chat with with Jordan Williams from the Taxpayers Union 0:01:27.881 --> 0:01:30.441 about polling and what questions you want to see answer 0:01:30.441 --> 0:01:30.761 in and polling. 0:01:30.801 --> 0:01:31.561 It was quite interesting. 0:01:31.801 --> 0:01:35.481 I would recommend it just to get an explanation of 0:01:35.561 --> 0:01:40.041 the dreaded margin of error which gets lip service in 0:01:40.081 --> 0:01:41.321 the polls and people go what's that margin? 0:01:41.361 --> 0:01:42.081 Evvera all about? 0:01:42.121 --> 0:01:44.521 Well, Jordan was pretty good on having a chat about that, 0:01:44.561 --> 0:01:48.961 But right now this is smart money and we are 0:01:48.961 --> 0:01:50.641 going to have a bit of a chat about Kiwi Saver. 0:01:51.441 --> 0:01:52.321 The question for you is. 0:01:52.321 --> 0:01:55.161 Actually how much time you have spent thinking about your 0:01:55.241 --> 0:01:58.201 key we saver profile, the company you're with. Did you 0:01:58.241 --> 0:02:00.441 just go with the default one of your bank like 0:02:00.521 --> 0:02:04.841 I did? Confession time? Anyway? But have you ever thought 0:02:04.841 --> 0:02:07.881 about changing your profile or have you ever thought about 0:02:07.921 --> 0:02:10.641 changing your company? And how often have you thought about it? 0:02:10.881 --> 0:02:12.641 And how many of you have actually haven't done it? 0:02:12.681 --> 0:02:14.201 In the EI? You know what, I think I should 0:02:14.201 --> 0:02:15.321 probably change my profile. 0:02:15.841 --> 0:02:17.641 I know that there are people who have done it, 0:02:17.681 --> 0:02:20.481 because especially when it was around the time people were 0:02:20.481 --> 0:02:23.241 looking at maybe getting into the first house, and it's 0:02:23.321 --> 0:02:25.601 a constant thing now for first time buyers because they think, well, 0:02:25.641 --> 0:02:27.601 hang on a minute, I want to use that money. 0:02:27.841 --> 0:02:30.201 So I'm going to go to conservative because I'm happy 0:02:30.201 --> 0:02:31.361 with where it's at and I don't want to risk 0:02:31.401 --> 0:02:34.481 it any longer. So those people probably have actively done it, 0:02:34.601 --> 0:02:36.281 But I want to know how often have you thought 0:02:36.321 --> 0:02:37.801 about it and have you done it? And how did 0:02:37.801 --> 0:02:40.201 you make the decision because I do a money out. 0:02:40.241 --> 0:02:43.001 I'm no financial expert, and I'll be honest with you 0:02:43.481 --> 0:02:45.521 in terms of choosing your company. I have met a 0:02:45.521 --> 0:02:48.801 few people who've got their own funds, but I haven't 0:02:49.001 --> 0:02:53.081 gone to them yet because I don't know. I'm going 0:02:53.161 --> 0:02:55.561 to have to dig into that. That's a confession anyway, 0:02:55.601 --> 0:02:57.601 to join me. We have a new guest on the show. 0:02:57.801 --> 0:03:00.881 He is the founder of Cora Wealth and his name 0:03:00.961 --> 0:03:04.201 is Rupert Carlyon and he's with us for smart Money. 0:03:04.241 --> 0:03:04.841 Get a Rupert. 0:03:05.681 --> 0:03:07.081 Good evening? Are you good? 0:03:07.121 --> 0:03:08.961 Good evening? I think it is evening. 0:03:09.001 --> 0:03:12.281 I guess winter, so it's darkouse it does make it 0:03:12.321 --> 0:03:12.921 look wintery. 0:03:13.041 --> 0:03:15.321 That's the first hot take of the day. Good evening 0:03:15.361 --> 0:03:16.281 at ten past five. 0:03:16.521 --> 0:03:19.201 Well, I've got young kids, so for me, this is 0:03:19.241 --> 0:03:20.161 firmly evening time. 0:03:20.401 --> 0:03:23.441 So you're missing okay, so you're missing dinner time right 0:03:23.441 --> 0:03:24.561 now and hopefully. 0:03:24.281 --> 0:03:26.481 Are missing all the fun stuff of the day. Oh yeah, 0:03:26.641 --> 0:03:29.121 but the dinner and all of the absolute mayhem. 0:03:29.161 --> 0:03:33.041 So this is perfect, excellent, Well, welcome, good to No 0:03:33.121 --> 0:03:35.001 wonder you're not coming to us from the home office. 0:03:35.041 --> 0:03:39.041 It's like I've really got to go in for this one. Honey, hey, 0:03:39.681 --> 0:03:42.841 just before we get into it, how tell us about 0:03:43.041 --> 0:03:45.081 Coral Wealth and how long you've been involved with that 0:03:45.161 --> 0:03:46.761 company and what you do. 0:03:47.041 --> 0:03:49.481 Yeah, so we're can we save a provider? We're about 0:03:49.481 --> 0:03:52.281 five years old. We currently manage about three hundred million 0:03:52.281 --> 0:03:56.881 dollars on behalf of about seven thousand members. I started 0:03:56.881 --> 0:03:59.721 the business about five years ago and partnership with a 0:03:59.721 --> 0:04:04.521 guy called Warren Coollier. Warren was previously COEO at Fish Funds. 0:04:04.561 --> 0:04:08.201 He was a made investor at Generate c IO Chief 0:04:08.201 --> 0:04:11.881 Investment Investment Officer, so he built a lot of that stuff. 0:04:11.921 --> 0:04:14.841 And what we believed very firmly was everything that you 0:04:14.921 --> 0:04:17.921 said in the introduction. We wanted to create an easy 0:04:17.961 --> 0:04:20.921 way for people to make better KEI. We saber decisions 0:04:21.681 --> 0:04:24.481 because we saw far too many people had no idea 0:04:24.521 --> 0:04:26.841 where to put their KEYI sab far too many people 0:04:26.881 --> 0:04:28.201 sitting in the default funds. 0:04:28.441 --> 0:04:30.001 And to our aunt's at all of this was. 0:04:29.961 --> 0:04:32.681 We were the first in market with a pretty comprehensive 0:04:32.681 --> 0:04:36.281 digital advice tool to make allow people to make smart decisions. 0:04:37.401 --> 0:04:39.521 Okay, so and you've got a key we save a fund. 0:04:39.681 --> 0:04:40.481 Yeah, you got a key. 0:04:40.801 --> 0:04:44.001 As you say, you've managed However, a hundred million. 0:04:43.921 --> 0:04:46.721 You mentioned, does that make it where does it make 0:04:46.761 --> 0:04:49.081 it in the scale in the scheme of things, because 0:04:49.121 --> 0:04:50.881 what is the total KEII saver. 0:04:52.801 --> 0:04:54.961 Global and not global? But you know in your part 0:04:55.161 --> 0:04:55.721 what's the pot? 0:04:55.881 --> 0:04:58.481 The pot's the one I'm going to write down. 0:04:59.881 --> 0:05:00.201 The pot. 0:05:00.241 --> 0:05:02.161 I'm not sure that's a technical terminology, but it's a 0:05:02.241 --> 0:05:04.241 nice way to think about it. So the key Saber 0:05:04.241 --> 0:05:06.121 pot's about a hundred twenty to one hundred and twenty 0:05:06.161 --> 0:05:10.721 five billion dollars. Wow, it's a lot of that. About 0:05:10.921 --> 0:05:12.961 sixty percent of that is actually still with the banks, 0:05:14.081 --> 0:05:15.681 which is really interesting, right. 0:05:15.561 --> 0:05:21.041 Because unsurprising, I'll be honest, because I was honest there 0:05:21.081 --> 0:05:23.401 that I just I mean, I'm self employed, so I've 0:05:23.401 --> 0:05:25.201 got a bunch of problems to deal with on that. 0:05:25.681 --> 0:05:26.641 But to me, I was just. 0:05:26.561 --> 0:05:29.761 Like, oh, okay, yeah, the okay A and Z Yeah, 0:05:29.801 --> 0:05:34.441 sure that's I'll go with that. And it's amazing because 0:05:34.481 --> 0:05:36.681 there is a large number of key we Saber providers. 0:05:36.721 --> 0:05:38.721 I don't know if people actually realize how many there are. 0:05:38.881 --> 0:05:42.321 A lot as as I've said a few times, it's 0:05:42.401 --> 0:05:43.761 exactly the same as craft beer. 0:05:43.881 --> 0:05:44.481 Do you go on to the. 0:05:44.441 --> 0:05:46.521 Stude market, and you got your thirty five craft beer 0:05:46.521 --> 0:05:49.161 providers on the supermarket and on the shelf, and key 0:05:49.201 --> 0:05:50.081 We Saber is no different. 0:05:50.081 --> 0:05:51.481 You got thirty five and. 0:05:51.481 --> 0:05:54.721 For everyday people, it's really hard to tell the difference 0:05:54.761 --> 0:05:57.681 because for most people, and I'm sure this is why 0:05:57.761 --> 0:06:00.601 you haven't switched and changed, we look, we feel, we 0:06:00.681 --> 0:06:04.321 smell the same because we are eighty five percent the same. 0:06:04.521 --> 0:06:07.921 Well, I guess that's because there's also some serious regulation 0:06:08.001 --> 0:06:10.161 around key We Saber because it's not the wild West. 0:06:10.281 --> 0:06:13.921 It needs to be something that that New Zealanders can 0:06:14.081 --> 0:06:17.281 count on with a degree of knowing that you know 0:06:17.321 --> 0:06:19.441 your money is not being looked after by some shyster. 0:06:20.281 --> 0:06:23.761 And so the amount of compliance and everything does level 0:06:23.761 --> 0:06:24.401 the playing field? 0:06:24.481 --> 0:06:25.081 Does that make it? 0:06:25.121 --> 0:06:27.801 Also because of the rules, I mean, it's the it's 0:06:27.801 --> 0:06:30.681 the it's the benefit of that key We Saber scheme 0:06:30.761 --> 0:06:33.441 is that it is perceived to be an absolute safe place, 0:06:34.921 --> 0:06:36.881 risk profile separate of course. 0:06:37.161 --> 0:06:40.841 Well even within that right, So there is a couple 0:06:40.881 --> 0:06:41.121 of things. 0:06:41.161 --> 0:06:42.361 So you're one hundred. 0:06:42.081 --> 0:06:45.561 Percent right that from a from a regular Troy perspective, 0:06:45.761 --> 0:06:48.321 it's it's as safe as you can get, right, So 0:06:48.841 --> 0:06:51.721 it's very different to the two thousand and eight finance companies, 0:06:51.761 --> 0:06:53.881 which were most of them were just shyster's kind of 0:06:53.881 --> 0:06:54.601 investing money. 0:06:54.881 --> 0:06:58.561 Oh, I still remember the ad. So here's I take 0:06:58.601 --> 0:07:01.121 to mention the companies. But all these ridiculous they made 0:07:01.161 --> 0:07:02.801 it sound so safe. Put your money with us. 0:07:02.801 --> 0:07:04.961 We'll put it this way. You know, when you've got 0:07:04.961 --> 0:07:09.361 all black or a news presenter pitching you, that's the 0:07:09.441 --> 0:07:10.041 time to run. 0:07:11.041 --> 0:07:11.361 People. 0:07:11.361 --> 0:07:13.681 If you ever see me fronting an ad for some fund, 0:07:14.561 --> 0:07:16.681 run a mile. I'll be doing well out of us, 0:07:17.761 --> 0:07:19.401 and you'll be telling them it's safe as houses. 0:07:20.641 --> 0:07:22.441 But look, so it is. 0:07:22.841 --> 0:07:25.961 It's a very strict regulatory regime, which is rightly so 0:07:26.121 --> 0:07:29.241 because fundamentally it is the largest investment that most people 0:07:29.321 --> 0:07:32.161 ever have. People are kind of setting their retirement all 0:07:32.201 --> 0:07:34.641 on this. So we keep our fund separately. 0:07:35.841 --> 0:07:36.601 We do. 0:07:36.681 --> 0:07:39.881 We are pretty we are mandated to hold a safe 0:07:39.881 --> 0:07:41.521 set of safest set of investments. 0:07:42.881 --> 0:07:46.201 Well that's actually a question because when I looked to 0:07:46.361 --> 0:07:48.401 changing my fund to a more aggressive one, because I 0:07:48.481 --> 0:07:50.601 just went and balanced because I don't know one, it 0:07:50.721 --> 0:07:54.601 just felt, you know again, it seemed inoffensive, and then 0:07:54.601 --> 0:07:56.561 I thought, hang on a minute, I'm optimistic coming and 0:07:56.601 --> 0:07:58.121 being in a workplace for a while. Yet so I 0:07:58.161 --> 0:08:03.881 shifted to growth and aggressive or something. But understanding risk 0:08:04.081 --> 0:08:05.921 and key we save it is one thing to go 0:08:05.961 --> 0:08:08.281 and make your own decisions about which of the s 0:08:08.321 --> 0:08:11.881 and P five hundred you want to buy versus going 0:08:11.921 --> 0:08:14.401 aggressive in your KIWI saver. Can you give us a 0:08:14.441 --> 0:08:19.561 context for how risky is it ever? In the most 0:08:19.681 --> 0:08:20.921 risky fund and ki saver? 0:08:23.121 --> 0:08:26.681 It's I'm just trying to think how to answer that, right, 0:08:26.721 --> 0:08:29.281 because the truth is the word fund is really important. 0:08:29.641 --> 0:08:32.961 And so because when you invest via a fund, you 0:08:33.041 --> 0:08:37.161 get diversification, and what that means in layman speakers, fundamentally 0:08:37.241 --> 0:08:40.321 you're going to get different markets, different sectors, and you're 0:08:40.321 --> 0:08:43.201 going to invest in tens or hundreds or thousands of 0:08:43.201 --> 0:08:47.121 different companies. And so that's why immediately by investing in 0:08:47.161 --> 0:08:51.321 a fund typically you have actually materially reduced your risk 0:08:51.401 --> 0:08:54.081 profile versus if you just go and try and invest 0:08:54.121 --> 0:08:56.561 in Facebook or Microsoft on your own. 0:08:57.001 --> 0:09:01.121 So that sort of answers that puts it in context already, 0:09:01.201 --> 0:09:05.041 isn't it? So it does every fund does every fund 0:09:05.081 --> 0:09:08.081 guardless of whether it's low risk, conservative or aggressive. I 0:09:08.121 --> 0:09:09.881 don't know what what are the names they give about 0:09:09.881 --> 0:09:14.601 those aggressive funds, you know, hang on, oh exactly, but 0:09:14.961 --> 0:09:19.801 even they are diversified, and so is the thing with 0:09:19.921 --> 0:09:22.641 those funds is that the risk is more that a 0:09:22.801 --> 0:09:27.401 market itself across its diversification might have some. 0:09:27.481 --> 0:09:28.161 Highs and lows. 0:09:28.201 --> 0:09:30.001 We've seen with I mean, we've seen with the Donald 0:09:30.041 --> 0:09:32.601 Trump presidency the highs and lows of the SMP. I mean, 0:09:32.601 --> 0:09:34.961 there might be a fund that is SMP and actually, 0:09:35.001 --> 0:09:36.721 you know what, if you need if you need your 0:09:36.721 --> 0:09:39.561 money in six months, it might be that might not 0:09:39.641 --> 0:09:42.081 be the bet as opposed to in five years time. 0:09:42.721 --> 0:09:47.241 You know, well, yeah, because so there's three to kind 0:09:47.281 --> 0:09:50.801 of as we think about diversification, you divers four different levels. 0:09:50.841 --> 0:09:53.281 Right at the start, you start off an asset class, 0:09:53.361 --> 0:09:55.881 and that's a fency way saying do you want lots 0:09:55.881 --> 0:09:58.921 of stocks and lots of equities in your portfolio or 0:09:59.001 --> 0:10:02.681 at a simplastic income And so the benefits when we 0:10:02.721 --> 0:10:07.281 buy income that means we're buying bond that's pretty sable, steady, 0:10:07.721 --> 0:10:09.361 doesn't really go up and down and just gives you 0:10:09.401 --> 0:10:12.121 a fixed return. Whereas as we've seen over the last 0:10:12.161 --> 0:10:16.241 kind of five years, the equity market, it just massively 0:10:16.321 --> 0:10:18.801 over and above. Right, it's been dropped more than twenty 0:10:18.841 --> 0:10:21.641 percent about ten times over the last five years, so 0:10:22.001 --> 0:10:24.521 it's had some big, big falls. 0:10:24.241 --> 0:10:25.681 But it typically recovers. 0:10:25.721 --> 0:10:28.281 So what we say, So that's where we start off with, right, 0:10:28.361 --> 0:10:30.321 So you go, hey, if you're in it for the 0:10:30.321 --> 0:10:33.201 long haul, then you can have lots of equities and 0:10:33.281 --> 0:10:34.481 that's going to deliver. 0:10:34.241 --> 0:10:35.601 A greater return over the long run. 0:10:35.801 --> 0:10:37.801 But if you need to get it out in six 0:10:37.841 --> 0:10:40.641 months time, when you've just Donald Trump's made his next announcement, 0:10:41.001 --> 0:10:42.161 You've got some problems. 0:10:41.801 --> 0:10:45.441 When he's decided to really doesn't like elon the EV 0:10:45.601 --> 0:10:49.081 and well, I mean, yeah, anyway, hey, sorry kerry On. 0:10:49.481 --> 0:10:52.761 And then you move into kind of regions, so some 0:10:52.801 --> 0:10:55.641 funds might be region specific, other funds might be kind 0:10:55.681 --> 0:10:58.241 of global, and then you've got company and sector specific. 0:10:58.321 --> 0:11:00.761 And so diversification is the name of how you make 0:11:00.801 --> 0:11:04.001 your money, by making sure that you're never overexposed to 0:11:04.041 --> 0:11:06.881 a single thing or a single kind of piece at all, 0:11:06.921 --> 0:11:09.161 because lots of things are going to go up, yeah, 0:11:09.241 --> 0:11:12.081 lots of things are going to go down. And fundamentally, 0:11:12.121 --> 0:11:13.841 if you knew exactly what was going to go up 0:11:13.881 --> 0:11:16.521 and win, well, you wouldn't even have my job, you'd 0:11:16.521 --> 0:11:17.441 be at a hedge fund management. 0:11:17.561 --> 0:11:24.481 Well, the thing is, we were talking before you before 0:11:24.481 --> 0:11:27.241 we started the show about the theory behind the key 0:11:27.241 --> 0:11:31.281 we saver funds just actually investment in general, and there's 0:11:31.921 --> 0:11:34.121 there's a whole space where you can go really deep 0:11:34.121 --> 0:11:38.321 into the weeds on that stuff. How I mean, how 0:11:38.321 --> 0:11:42.201 clever can people be with working out investments that are 0:11:42.241 --> 0:11:45.201 going to give a good return? I mean, how advanced 0:11:45.241 --> 0:11:48.161 does that theory? And what can you tell us about that? 0:11:48.721 --> 0:11:52.841 Look, there is so much theory, but what we are 0:11:52.961 --> 0:11:56.801 brilliant at in the finance world is demonstrating to everyone 0:11:57.121 --> 0:12:00.601 by talking really fast with very complicated words, that we 0:12:00.961 --> 0:12:02.361 are we believe ourselves to be the. 0:12:02.281 --> 0:12:03.241 Smartest people on the own. 0:12:03.801 --> 0:12:08.281 The truth is thoughtments can be extremely simple if you've 0:12:08.321 --> 0:12:10.801 got the right asset allocation and by that I mean 0:12:10.881 --> 0:12:15.161 the right diversification. There are lots of simple products out 0:12:15.201 --> 0:12:19.921 there that can deliver really great returns. And so we 0:12:20.001 --> 0:12:22.841 kind of spend like you'll get people and I'm sure 0:12:22.841 --> 0:12:24.561 you've had lots of come on this program tell you 0:12:24.601 --> 0:12:26.841 that they're the greatest stockpacker, or that they do this, 0:12:26.961 --> 0:12:30.641 they do this evidence has shown that kind of ninety 0:12:30.681 --> 0:12:35.641 five percent of returns are delivered by simple good asset allocation, 0:12:36.041 --> 0:12:38.441 by kind of creating the right strategy, and you just 0:12:38.441 --> 0:12:40.481 stick with that. The person that spends all the time 0:12:40.561 --> 0:12:43.121 trying to pick the right stock, trying to pick the 0:12:43.201 --> 0:12:45.521 right trend slows far more often. 0:12:45.561 --> 0:12:46.081 It's like the bet. 0:12:46.401 --> 0:12:49.401 It's almost like a betting mentality, isn't It's like masts 0:12:49.401 --> 0:12:51.521 will go down. It's just a different version of betting 0:12:51.521 --> 0:12:52.601 on the horses, you know it. 0:12:53.561 --> 0:12:55.561 And within that, Look, there are always going to be bets, 0:12:55.561 --> 0:12:57.361 and there are always going to be people that go, look, 0:12:57.401 --> 0:12:58.961 I want to do something a little bit different. So 0:12:59.601 --> 0:13:03.241 the most biggest one at the moment is bitcoin for example, Right. 0:13:03.761 --> 0:13:05.161 I actually get when I was doing. 0:13:05.481 --> 0:13:07.281 Because you had a we do have a bitcoin fund. 0:13:07.281 --> 0:13:09.321 You had a bitcoin fund, and I did see that 0:13:09.401 --> 0:13:13.681 you were cautioning investors. It's like, okay, our bitcoin fund 0:13:13.801 --> 0:13:16.241 has returned very well in the past, but you actually, 0:13:16.401 --> 0:13:19.201 I think I saw you'd said, just call your jets 0:13:19.201 --> 0:13:20.641 with your future expectations. 0:13:20.681 --> 0:13:23.241 We've done well, can we. 0:13:23.201 --> 0:13:25.081 Just we'll get that one across the FML if you've 0:13:25.081 --> 0:13:25.481 seen that? 0:13:25.561 --> 0:13:26.201 So what's that? 0:13:27.041 --> 0:13:30.321 At my job as kind of a wow. To be 0:13:30.321 --> 0:13:32.921 fair as an investor and with investors is to kind 0:13:32.961 --> 0:13:35.281 of make sure people understand that, hey, that there's a 0:13:35.281 --> 0:13:38.321 lot of risk in everything that we do. So if 0:13:38.361 --> 0:13:40.481 I'm out there saying, hey, you should invest in bitcoin 0:13:40.601 --> 0:13:42.561 because for the last five years it's to deliver an 0:13:42.601 --> 0:13:45.201 annualized return on sixty percent and that's going to continue, 0:13:45.601 --> 0:13:50.201 that's not fair because fundamentally, past performance never equals future performance, 0:13:50.601 --> 0:13:52.201 and so I need to give balance. So that's why 0:13:52.241 --> 0:13:55.841 I'm always saying, hey, it's an interesting asset. It's done really, 0:13:55.881 --> 0:13:58.001 really well, but we have no idea what's going to 0:13:58.041 --> 0:13:58.601 happen in the future. 0:13:58.601 --> 0:14:00.521 Because I will always get texts on the show saying 0:14:00.521 --> 0:14:02.361 I'll just stick your money in bitcoin and stuff, and 0:14:02.401 --> 0:14:05.241 you know, I've got no comment to make on it, 0:14:05.281 --> 0:14:06.641 but it just freaks me out generally. 0:14:06.961 --> 0:14:09.641 Well, but I'll give you the sophisticated view on that one. 0:14:09.721 --> 0:14:13.321 Right where you go it is risky, and let's be clear, 0:14:13.321 --> 0:14:15.281 we're not one hundred percent sure on where it's going 0:14:15.361 --> 0:14:19.281 to go. But if you put five percent of your 0:14:19.281 --> 0:14:22.401 portfolio and bitcoin, that's actually got the potential to do 0:14:22.481 --> 0:14:25.641 something really interesting for your portfolio. But it's not about 0:14:25.641 --> 0:14:27.761 taking it all resk right, So coming back to where 0:14:27.761 --> 0:14:31.281 I started diversification. The person that sits rings you up 0:14:31.321 --> 0:14:34.801 and says put everything in bitcoin, that is truly gambling. 0:14:35.241 --> 0:14:38.121 Whereas by putting little bits and lots of different places, 0:14:38.361 --> 0:14:41.481 that's what's allowing you to expose yourself to some potential 0:14:41.481 --> 0:14:42.041 for big ones. 0:14:42.161 --> 0:14:43.801 Okay, Look, we'd love your calls on this. When it 0:14:43.801 --> 0:14:46.361 comes to your key we Saver fund and I know 0:14:46.401 --> 0:14:48.921 we've done. Look we getting to know each other because 0:14:48.921 --> 0:14:50.601 it's the first time on the show with Robert carlai On, 0:14:50.721 --> 0:14:53.761 the founder of Curel Wealth. And when it comes to 0:14:53.801 --> 0:14:56.721 your fund, are you sort of just settling for the 0:14:56.721 --> 0:14:59.801 status quocus? You know, I got into it when the 0:14:59.841 --> 0:15:02.321 government announced it there was this fund, my bank was operating. 0:15:02.361 --> 0:15:05.161 I'm shoved it and balanced because that sounds kind of 0:15:05.761 --> 0:15:07.601 not the right sort of balance of zen for me. 0:15:07.921 --> 0:15:09.921 But have you thought about changing? 0:15:10.041 --> 0:15:13.361 But what's stopping you? Give us a call eight hundred 0:15:13.401 --> 0:15:15.641 eighty t and eighty. But also if you have actually 0:15:15.681 --> 0:15:18.841 managed to change your profile or the company you have 0:15:19.161 --> 0:15:22.321 got your key we sable with, what motivated you to 0:15:22.361 --> 0:15:25.361 do it and what was the homework that you did that. 0:15:25.361 --> 0:15:26.481 Motivated you to go right. 0:15:26.561 --> 0:15:30.641 This is the decision I'm making eight hundred eighty and eighty. 0:15:31.001 --> 0:15:33.161 It is twenty two past five news talks at b 0:15:33.281 --> 0:15:36.201 Are you worried about funding a comfortable retirement? Well you're 0:15:36.201 --> 0:15:38.441 not alone. The cost of living crisis is hitting up 0:15:38.481 --> 0:15:40.401 for a lot of people, so it's no surprise people 0:15:40.401 --> 0:15:42.961 are looking to make for ways to make the most 0:15:43.441 --> 0:15:45.481 of their savings and get a little bit more income 0:15:45.481 --> 0:15:48.521 to supplement their New Zealand super One interesting solution is 0:15:48.561 --> 0:15:51.681 to invest in an income fund like the Harbor Income Fund. 0:15:52.081 --> 0:15:55.201 It works by holding a mix of interest paying securities 0:15:55.241 --> 0:15:57.561 and shares that have been designed to generate a steady 0:15:57.801 --> 0:16:01.321 and sustainable income no matter the market. The Harbor Income 0:16:01.361 --> 0:16:04.601 Fund is actively managed and currently it pays the distribution 0:16:04.681 --> 0:16:08.041 of four point five percent per annum after fees and 0:16:08.081 --> 0:16:10.801 taxes paid out in monthly installments. To find out more 0:16:10.801 --> 0:16:13.001 about Harbor's Income Fund, just head to their website or 0:16:13.001 --> 0:16:15.481 speak with your financial advisor. This is not intended as 0:16:15.561 --> 0:16:20.561 personalized advice. The Product Disclosure Statement for Harbor Investment Funds 0:16:20.881 --> 0:16:26.081 issued by Harbor Asset Management is available at Harborasset dot 0:16:26.121 --> 0:16:27.321 co dot nz. 0:16:28.241 --> 0:16:32.881 Your Weekend Your Way, The Weekend Collective with Tim Beverage 0:16:33.121 --> 0:16:34.081 News Dog Zebby. 0:16:35.401 --> 0:16:37.761 So we're talking about kiwisaver, and actually, I think my 0:16:37.841 --> 0:16:40.681 guest Rupert Carlyin, he's the founder of Career Wealth, first 0:16:40.721 --> 0:16:42.481 time on the show. By the way, taking your calls 0:16:42.881 --> 0:16:44.681 put it best when we're chatting on the break, it's 0:16:44.721 --> 0:16:47.561 really about how to take ConTroll of your kiisaver and 0:16:47.721 --> 0:16:49.601 how many of your passengers because. 0:16:50.441 --> 0:16:51.081 What do we reckon? 0:16:51.081 --> 0:16:53.121 How many people do you think are just passengers? Rupert, 0:16:54.041 --> 0:16:55.561 And you're just looking at all the number of people 0:16:55.641 --> 0:16:57.561 with banks and go, well sixty percent at least. 0:16:57.961 --> 0:16:59.721 Yeah, well yeah, but tilt. 0:17:00.161 --> 0:17:01.801 I love to bash the banks because they do a 0:17:01.801 --> 0:17:04.201 pretty shitty job on a lot of stuff, but a 0:17:04.241 --> 0:17:05.881 lot of the banks act. Some of them are better 0:17:05.881 --> 0:17:08.481 than others. In keysaver, that's not necessarily the end of 0:17:08.481 --> 0:17:11.081 the world being with your bank. Here, we've got digital 0:17:11.081 --> 0:17:13.161 advice tools, right, So over the last five years we've 0:17:13.161 --> 0:17:15.921 had kind of about forty thousand people through those tools, 0:17:16.361 --> 0:17:19.441 and what we find is that less than forty percent 0:17:19.441 --> 0:17:21.161 of people are in this and the type of fund 0:17:21.201 --> 0:17:22.121 that we would recommend. 0:17:23.081 --> 0:17:25.321 So what are these digital advice tools and how do 0:17:25.361 --> 0:17:26.441 people check them out. 0:17:26.721 --> 0:17:29.201 So if you visit our website dubdub dot cod ol 0:17:29.241 --> 0:17:32.041 wealth ko U R A W E A L T 0:17:32.401 --> 0:17:36.401 H dot co door NZ, you'll see kind of there's 0:17:36.401 --> 0:17:38.881 a digital advice tool you can take through. We'll do 0:17:39.001 --> 0:17:42.241 a quick assessment of your risk profile, what your objectives 0:17:42.241 --> 0:17:45.241 are for qisaver, some of the things that might interest you, 0:17:45.401 --> 0:17:47.321 on where and how you want to build your KISAB, 0:17:47.721 --> 0:17:49.601 and then we'll make a recommendation for you. 0:17:50.201 --> 0:17:51.881 But I think the interesting. 0:17:51.521 --> 0:17:54.441 Part about that tool for us is when we say 0:17:55.441 --> 0:17:58.761 two things that the type of fund that we would 0:17:58.761 --> 0:18:02.001 recommend is very different to the one that they're already in, 0:18:02.041 --> 0:18:04.801 which means that which is normal because not many keywis 0:18:04.801 --> 0:18:07.801 of E had financial advice. Not many people have ever 0:18:07.841 --> 0:18:11.081 actually really thought hard about their QUI saving despite the 0:18:11.081 --> 0:18:12.841 fact that it's going to be the largest investment they 0:18:12.841 --> 0:18:13.161 ever have. 0:18:13.561 --> 0:18:14.401 How does it play out? 0:18:14.441 --> 0:18:17.561 Because you know, we have often will be making and 0:18:17.601 --> 0:18:20.961 I will when I get a guest on and about 0:18:21.161 --> 0:18:24.961 we're not giving specific financial advice. How does that play 0:18:25.001 --> 0:18:27.761 into the tools that are available when they're saying what 0:18:27.801 --> 0:18:29.681 funder should I be in? Because you were sort of 0:18:29.681 --> 0:18:31.321 in the area of giving is it? 0:18:31.321 --> 0:18:31.921 It is advice. 0:18:32.041 --> 0:18:32.601 It is advice. 0:18:32.681 --> 0:18:36.801 Okay, that's advice based. Oh good, I just want to 0:18:37.041 --> 0:18:37.921 no no, no, no, no, no. 0:18:39.121 --> 0:18:42.321