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Speaker 1: She's on the Money.

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Speaker 2: She's on the Money. Hello and welcome. She's on the Money,

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Speaker 2: the podcast for millennials who want financial freedom.

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Speaker 1: We've never heard that.

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Speaker 2: Yeah, I say it so often, don't I. Okay, So

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Speaker 2: we've spoken about investing a lot over the last month,

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Speaker 2: but one thing we are yet to have spoken about,

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Speaker 2: perhaps ever on the show is how to invest for

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Speaker 2: our children to give them a financial head start. My

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Speaker 2: name is Georgia King, and joining me today to chat

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Speaker 2: kids and investing is Melbourne based a financial advisor, Victoria

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Speaker 2: Divine Georgia King. Hello, how are you? I'm good? How

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Speaker 2: are you?

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Speaker 3: It's very brash and very early. We've got more energy

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Speaker 3: than we usually do.

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Speaker 2: Like we do, let us know if it comes to

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Speaker 2: on the airwaves.

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Speaker 1: Yeah, good show, my friends, let's hope.

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Speaker 2: So, before we do get into it V, I wanted

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Speaker 2: to start a little bit differently, and I wanted to

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Speaker 2: share a story from our community to give everyone an

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Speaker 2: idea of why investing for our kids is potentially such

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Speaker 2: a good option.

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Speaker 1: Okay, okay, I'm ready for this.

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Speaker 2: So Kylie posted this in our Facebook group. So she

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Speaker 2: started out by saving two dollars a day from when

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Speaker 2: her son was in the womb and when that two

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Speaker 2: dollars is a.

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Speaker 1: Very concerning way of saying it.

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Speaker 3: But okay, I don't know, I don't know.

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Speaker 1: I'm not gonna lie. Okay, that's also weird.

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Speaker 3: I just get really uncomfortable with different terms about babies.

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Speaker 2: Yeah, just well, girl, you better get used to it

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Speaker 2: because everyone is having them, I know, the season for

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Speaker 2: the babies.

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Speaker 3: Is it a weird thing to say, like on the

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Speaker 3: podcast publicly that there's been that there's been this shift

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Speaker 3: in my life, right, so like when I was younger,

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Speaker 3: if a friend was pregnant, if you're like, oh my gosh,

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Speaker 3: you okay, And now it's like this mentalities Yeah, it's

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Speaker 3: a congrats and I'm so excited, Like I adore kids,

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Speaker 3: like I I'm such a baby person.

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Speaker 1: Like if you oh, they're just the best.

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Speaker 3: Yeah, literally, like my family can probably attest Yeah, Like

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Speaker 3: the second I see their kids, I'm like, ha, give

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Speaker 3: me your babies.

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Speaker 1: Yeah.

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Speaker 3: But I just haven't slipped out of the mentality that

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Speaker 3: I'm no longer twenty years old. And like, don't get

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Speaker 3: me wrong, there are people in our community who you know,

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Speaker 3: decided to get pregnant at twenty and that's great. But

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Speaker 3: when I was twenty, that was the furthest thing from

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Speaker 3: my mind. And so now I'm like, oh, you did

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Speaker 3: that on purpose?

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Speaker 1: Yeah, like that's so exciting.

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Speaker 3: But yeah, I think we're all going through that mentality

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Speaker 3: of now our kids, now our friends are having babies

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Speaker 3: on purpose.

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Speaker 1: Like that's a different mindset.

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Speaker 2: It's confusing, but it's beautiful.

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Speaker 1: I'm so excited.

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Speaker 3: I'm so excited. And our friend's circle like my friends.

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Speaker 3: So you were starting to have babies.

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Speaker 1: It's like the.

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Speaker 3: Best thing ever because I get to hang out with

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Speaker 3: them and then give no responsibility. That's it, the best

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Speaker 3: kind of babies.

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Speaker 2: I love this little detour. You're okay, but it is true.

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Speaker 2: I was getting on. Okay, Yeah, I want to Kylie

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Speaker 2: two dollars a day when her son was in the worm,

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Speaker 2: and when that two dollars turned into one thousand dollars,

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Speaker 2: that's over about five hundred days. Wisbeyg Mass. I did

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Speaker 2: actually google that one thousand to five by two, and

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Speaker 2: then I was like, hang on, you know this.

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Speaker 1: Sheek ahh wow.

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Speaker 2: So when that money turned into one thousand dollars, she

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Speaker 2: put that money into shares, so they added any bonus

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Speaker 2: money along the way from birthdays, Christmases into the shares,

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Speaker 2: and Grandpa also generously through and ten grand when the

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Speaker 2: baby was born in She Thank You g The Sun

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Speaker 2: is now sixteen years old. He has a very healthy

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Speaker 2: share portfolio. He paid cash for his car, and he's

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Speaker 2: in a very good spot to afford a house one day. Plus.

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Speaker 2: He has a plan to put three hundred dollars a

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Speaker 2: week of his own earnings when he turns eighteen into shares,

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Speaker 2: and he wants to do that until he is at

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Speaker 2: least thirty five. From the advice Kylie and her son received,

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Speaker 2: so they've seen a financial advisor, he is apparently looking

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Speaker 2: at retiring with sixty million million dollars in the bank.

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Speaker 2: Do those numbers sound right, because that sounds like he's

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Speaker 2: going to be filthy rich, and it doesn't sound like

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Speaker 2: it was that hard to do it.

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Speaker 3: It's a little bit more compressed, right, like sixty million.

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Speaker 3: It is possible because they've got a really long time frame,

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Speaker 3: like if you are investing over sixty years, which is

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Speaker 3: essentially what they're saying, like from that time that baby existed,

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Speaker 3: you are investing for them. So they've got an eighteen

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Speaker 3: year head start on most of us, because you're legally

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Speaker 3: not allowed to start investing on your own until you

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Speaker 3: reach the age of eighteen. If she had one thousand

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Speaker 3: dollars ten grand from Grandpa the start, and then like,

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Speaker 3: let's say they were investing three hundred dollars a week,

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Speaker 3: because that's example you gave.

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Speaker 2: Right, Yeah, yeah, well that's his plan, that's his plan.

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Speaker 3: But I don't know how much was invested during that time.

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Speaker 3: Because even if you started with eleven thousand dollars at

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Speaker 3: the start and then invested three hundred dollars a week

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Speaker 3: out a seven point five percent interest rate, after fifty years,

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Speaker 3: you're sitting at a about eight point nine million dollars

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Speaker 3: ish as an investment, which is obviously epic, but money

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Speaker 3: would double about every ten years, So that kind of

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Speaker 3: doesn't stack up to me.

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Speaker 1: Sixty million seems wild.

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Speaker 2: Okay.

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Speaker 3: I don't know what he was getting for his birthday, Like,

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Speaker 3: was he getting cash some payments of like twenty grands

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Speaker 3: each time?

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Speaker 1: Yeah, it just feels like a lot.

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Speaker 3: So maybe I'm not saying this story isn't true, but

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Speaker 3: I'm also going to make some assumptions that there might

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Speaker 3: be some inheritance built into that and some other assets

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Speaker 3: that we aren't aware of, because you can't tell everybody

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Speaker 3: in a Facebook post exactly what things are made up of.

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Speaker 3: But that doesn't make it not true because I have

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Speaker 3: clients who are in exactly.

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Speaker 1: That position too.

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Speaker 3: But like, I like it, and I like working at backwards,

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Speaker 3: being really realistic and not saying, Okay, well, if you

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Speaker 3: turn eighteen and had eleven thousand dollars as a minimum

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Speaker 3: and then invested three hundred dollars a.

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Speaker 1: Week, like you're not actually going to get sixty million dollars.

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Speaker 2: So but it'll still end up in a great position.

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Speaker 3: Oh my gosh, why we want to talk about one

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Speaker 3: hundred percent? And so that's the one thing that I

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Speaker 3: want people to have in their heads. Right, so we're investing,

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Speaker 3: not so at the end of the day we have

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Speaker 3: a million dollars saved and we can start spending that

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Speaker 3: million dollars. It's so that that money creates money for us,

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Speaker 3: and that becomes our salary. So if we just said

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Speaker 3: basic five percent return, because I'm wildly conservative, like I

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Speaker 3: do not like to overestimate things, but if you have

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Speaker 3: a five percent return on a one million dollar portfolio,

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Speaker 3: which is totally possible for everyone to create at this age. Like,

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Speaker 3: if we are young, we are millennials, and we put

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Speaker 3: our heads down, we can create that that's a passive income.

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Speaker 3: Passive income means income that we didn't have to lift

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Speaker 3: a finger for. That's a passive income of fifty thousand

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Speaker 3: dollars a year.

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Speaker 1: At a minimum.

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Speaker 2: That's nice.

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Speaker 3: That's pretty that's pretty nice. That is lovely. And so

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Speaker 3: if we could start creating this for our kids upfront,

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Speaker 3: like we're giving them a massive head start. It's not

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Speaker 3: giving them a head start for retirement, but the sooner

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Speaker 3: they reach a point where they have a passive income,

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Speaker 3: life is easier.

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Speaker 1: So we're not talking.

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Speaker 3: About, oh my gosh, start investing for your kids so

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Speaker 3: that when they reach the age of sixty five they'll

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Speaker 3: be comfortable. It's what if you started investing for your

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Speaker 3: kids now, even for yourself now, so that when they're

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Speaker 3: thirty and they're deciding to have their first kids, they've

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Speaker 3: got an extra passive income of thirty grand Like how

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Speaker 3: good would that be if you were on matt leave.

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Speaker 3: Like we're not talking let's make ourselfs ballers. We're saying,

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Speaker 3: let's make ourselves really comfortable and give absolutely everybody the

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Speaker 3: best chance in life, because the end of the day,

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Speaker 3: even if you invested and there was like a smaller

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Speaker 3: passive income could pay school fees, that could pay something

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Speaker 3: to create a more comfortable life for your child in

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Speaker 3: the future. And for me, that's arguably the best way

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Speaker 3: to give back, Like you could give them things, or

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Speaker 3: you could give them the freedom of financial security into me.

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Speaker 3: I think that's that's a sexier pressent, yeah.

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Speaker 1: For sure.

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Speaker 2: And I think the other thing is that it's the

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Speaker 2: old kids saying like from the little things, big things grow.

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Speaker 1: I'm so done.

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Speaker 3: We have been thrown under the US without saying but

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Speaker 3: I clearly didn't coin it.

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Speaker 1: I just really like that saying.

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Speaker 3: And now every Friday Drinks Ryan finds some way.

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Speaker 1: To put it on the pod. But hey, it is true.

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Speaker 2: Do you think that that is a part of the

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Speaker 2: reason that so many people in our community are starting

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Speaker 2: to have this conversation because it's not just you, myself

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Speaker 2: and Kylie chatting about investing.

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Speaker 1: For our kids.

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Speaker 2: It's a really popular topic that we're seeing it.

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Speaker 3: Is, and it's one that I've had so so many

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Speaker 3: messages about. But I think this is one of those

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Speaker 3: topics that I just want you to be educated on.

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Speaker 1: So if you don't have kids, great, that is a

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Speaker 1: non issue at all. But all of.

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Speaker 3: These tips and tricks are applicable to you when you're

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Speaker 3: investing for yourself. Like, once you understand investing, it doesn't

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Speaker 3: matter who you're doing it for. It actually just matters

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Speaker 3: what we're working towards in the end. And obviously we

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Speaker 3: need to talk about structures and their different ways to

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Speaker 3: hold things because I think that's where a lot of

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Speaker 3: complexity comes from. And that's where we get a lot

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Speaker 3: of questions from people in our community who are saying, oh,

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Speaker 3: should I have a trust, Should I know be investing

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Speaker 3: in a bond? Should I be doing something different for

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Speaker 3: my kids? Like how do I do that? And I

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Speaker 3: think that's what this podcast is about. But it will

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Speaker 3: also give you the knowledge so in the future when

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Speaker 3: stuff does start to happen in your life and you

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Speaker 3: do find yourself in a position where you're like, oh,

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Speaker 3: I love kids, like this can be part of the story,

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Speaker 3: and this can be part of your future kids' money stories.

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Speaker 3: And how cool is that to think that there are

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Speaker 3: gonna be future Bambinies out there Georgia.

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Speaker 1: Who have little trust set up.

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Speaker 3: For them or like little investment portfolios or Mum and

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Speaker 3: dad are killing it because when you.

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Speaker 1: Set them up, right, Yeah, how cool? So cute?

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Speaker 2: It is cool.

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Speaker 1: It is very cool.

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Speaker 2: H Okay, I'm gonna skip us ahead a little bit heavy.

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Speaker 2: How do we actually get started on this journey?

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Speaker 3: So gee, they are actually a fair few different ways

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Speaker 3: we can start to approach this and set this up.

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Speaker 3: It is not a one size fits or approach. It

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Speaker 3: is actually a lot more complicated than that. But at

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Speaker 3: the same time, we can distill it down and make

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Speaker 3: it super easy. So we need to start by assessing

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Speaker 3: the length of time that you're actually planning on committing

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Speaker 3: to this investment for is this going to be because

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Speaker 3: Grandpa gave you ten grand when the baby was born

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Speaker 3: or one thousand dollars like that's obviously wildly generous, But

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Speaker 3: is that why you're investing or is it because you

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Speaker 3: actually have a lump sum every single month that you

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Speaker 3: want to invest. If so, what is that amount? This

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Speaker 3: is such a pressury conversation for a lot of people.

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Speaker 3: If you're on a low or a minimum wage and

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Speaker 3: you've got two kids, like, don't feel like you need

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Speaker 3: to set them up with an investment portfolio.

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Speaker 1: That is absolutely not an expectation. But you are smart.

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Speaker 3: It doesn't matter how much you earn. You can teach

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Speaker 3: your children financial literacy. You can teach them how much

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Speaker 3: things cost. You can teach them that investing should be

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Speaker 3: a priority, and you can teach them all the basics

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Speaker 3: that they need to know without even having to invest. Really,

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Speaker 3: it's not about how much you have. It's actually about

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Speaker 3: what you're going to teach them, and that, to me

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Speaker 3: is the legacy we want to leave behind. So I

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Speaker 3: think before we even talk about okay, well this is bond,

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Speaker 3: this trust and just say we're here to educate our

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Speaker 3: children because the more educated they are, the better choices

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Speaker 3: they're going to make for their financial futures. And that's

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Speaker 3: how we change a money story. That's how we change

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Speaker 3: a financial future. That is what we do to actually

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Speaker 3: have generational impact. It's not about setting kids up so

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Speaker 3: that they're entitled and have trust funds. Yes, albeit I

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Speaker 3: know they probably appreciate it, yeah, because I.

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Speaker 2: Would sorry, definitely back to timelines V. So I'm assuming

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Speaker 2: our approach to how we're going to invest for our

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Speaker 2: kids is going to be different if we have fresh

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Speaker 2: in the womb, or a seventeen year old that we're.

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Speaker 3: Wanting freshy in the I don't I can't wait.

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Speaker 1: Tell you have kids and see just how you refer

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Speaker 1: to them. It's given a big delight.

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Speaker 2: Yeah, oh well it's a good twenty years away, so

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Speaker 2: don't you worry about that?

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Speaker 1: Yeah?

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Speaker 3: Sure, sure they all say that and then everybody gets preger.

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Speaker 2: No, but yeah, so what is the difference there.

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Speaker 3: It's really important for you to understand your timelines here.

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Speaker 3: So that goes back to why and we always say

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Speaker 3: when investing, way to do it is it to set

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Speaker 3: them up for a successful financial future. If so, what

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Speaker 3: does that mean? Does that mean you are setting them

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Speaker 3: up to pay for their future car or their future

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Speaker 3: school fees? Are you paying for their future wedding? Are

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Speaker 3: you buying them their first home?

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Speaker 2: Like?

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Speaker 3: What does that investment actually look like? And for the

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Speaker 3: average Australian, can we just actually preface that buying your

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Speaker 3: kid at their first home is not going to be

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Speaker 3: an achievable thing to set a goal for, but you

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Speaker 3: definitely could help them to, you know, save some money

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Speaker 3: or invest some money towards a deposit for a home

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Speaker 3: because home prices are crazy so that might be a

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Speaker 3: bit crazy to think that we could do that. But

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Speaker 3: each to their own, everyone has a different money story.

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Speaker 3: But if we have a long time to invest, like

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Speaker 3: ten years or more, which arguably if you're having a baby,

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Speaker 3: they're not going to be able to invest on their

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Speaker 3: own or even have anything important to buy when they're ten.

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Speaker 1: When I was standing, I was buying.

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Speaker 3: Bradstoles, so all same, that was pretty important.

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Speaker 2: That was pretty inveortment.

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Speaker 3: Chloe josh ask Alex my sister obsessed.

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Speaker 2: Really yeah, it was always did how the whole feat

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Speaker 2: could just be removed? Can you remember that?

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Speaker 1: That was weird?

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Speaker 2: It was strange, all right.

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Speaker 3: A really cool thing to potentially consider is an investment bond.

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Speaker 3: So this is not like the bonds that we talked

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Speaker 3: about on our bonds episode, where you know, the government

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Speaker 3: issues a bond and you purchase one a bond. It's

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Speaker 3: a bit bigger than that, and we'll do an entire

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Speaker 3: episode on what this is and how it works, but

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Speaker 3: essentially it allows you to invest in a more tax

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Speaker 3: savvy way. To put it simply, bonds are designed to

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Speaker 3: be a ten minimum ten year investment commitment, and generally

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Speaker 3: you don't make any withdrawals along that time, and any

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Speaker 3: earnings that you make from that bond end up being

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Speaker 3: tax free because it's in a different vehicle, so it

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Speaker 3: sits there and it is a little bit sexier, a

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Speaker 3: little bit nicer. It's actually easier for you personally to

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Speaker 3: do your tax return because you don't have to do

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Speaker 3: anything for it, Whereas if you go and buy a

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Speaker 3: whole heap of shares individually and you own them, you

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Speaker 3: need to add that to your tax return each year.

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Speaker 1: It's not that complicated.

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Speaker 3: I'm drama tizing how hard it is, but at the

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Speaker 3: end of the day, it's important to know that your

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Speaker 3: tax return would be easier. And you could also invest

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Speaker 3: in shares in a more traditional way, which obviously has

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Speaker 3: some benefits but also has the highs and lows. If

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Speaker 3: you have a moderate amount of time, which arguably might

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Speaker 3: be you have a ten year old now and you

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Speaker 3: want to start investing for their future car when they

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Speaker 3: turn eighteen, or you know, setting them up for UNI

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Speaker 3: or whatever that looks like. So like five to eight

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Speaker 3: years or around that mark's still definitely worth investing. Like

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Speaker 3: we have impact over the long term, our money is

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Speaker 3: meant to double on average every ten years, so like

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Speaker 3: that's pretty close to that. You're going to get some

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Speaker 3: pretty sweet returns in that time. But maybe an option

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Speaker 3: like an ETF might be a little bit better because

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Speaker 3: an investment bond might not be the right fit for

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Speaker 3: you because of the longevity of it, and we prefer

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Speaker 3: to put you into an asset like an investment bond

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Speaker 3: for a longer period of time. And then if you're

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Speaker 3: investing for the short term, so between two and three years,

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Speaker 3: that's aally a lot riskier because we don't know what

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Speaker 3: the markets are going to do in two to three years,

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Speaker 3: and I think that for me, it's not not worth it.

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Speaker 3: But you need to understand that you might not be

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Speaker 3: able to pull your money out and have made a

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Speaker 3: profit in that time. So my advice he would probably

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Speaker 3: be to incrementally add money to a high interest savings

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Speaker 3: account if they still exist.

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Speaker 1: To sure, I don't think they do. Can we just

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Speaker 1: touch on that for a hot set?

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Speaker 3: It's touch because everybody know she's on the money. Community

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Speaker 3: This week has been like, oh my gosh, I can't

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Speaker 3: believe it. Our bank has dropped their interest rate again,

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Speaker 3: as if our banks personally victimizing them.

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Speaker 1: But it's not.

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Speaker 3: It's not what's happening. Like the RBA sets the interest rates.

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Speaker 3: That's why we have such great home loan rates at

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Speaker 3: the moment. The banks aren't choosing to give you less

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Speaker 3: because they just want to. It's just not a profitable

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Speaker 3: business model for them to give you any less. They

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Speaker 3: genuinely can't afford it, so they are passing on the

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Speaker 3: cuts that have occurred to them to you.

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Speaker 1: It is how it works, and.

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Speaker 3: That's why a high interest savings account is just that

363
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Speaker 3: sometimes it is going to fluctuate. You're not going to

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Speaker 3: lose money in the same way you would if you

365
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Speaker 3: had an investment portfolio, but you're going to get a

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Speaker 3: lesser return.

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Speaker 1: It's why it's lower.

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Speaker 3: That's why in times like these, people do start turning

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Speaker 3: to investments. A couple of years ago, like fifteen years ago,

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Speaker 3: that's more than a couple whatever high interest savings accounts.

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Speaker 3: Some of them had eight percent returns.

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Speaker 1: Genius.

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Speaker 3: That's why we all sew for, oh, get a high

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Speaker 3: interest savings account. Like that term's kind of going in

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Speaker 3: the bin because I know that a lot of them

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Speaker 3: are down to like zero point seven percent. You're like, oh,

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Speaker 3: that's not sexy, Like that's not keeping up with inflation

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Speaker 3: like Victoria says it should, and we look for alternative assets.

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Speaker 3: So I think it's really important to understand that just

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Speaker 3: because your bank has decreased the amount of interest they're paying,

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Speaker 3: it doesn't make them a bad bank. Like you've also

382
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Speaker 3: got to take into consideration the fact that you're there

383
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Speaker 3: because they are easy to access, or you really like

384
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Speaker 3: their app or you really like their customer service, like

385
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Speaker 3: these are the other things that come into play if

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Speaker 3: you're just there for the high interest safe things component

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Speaker 3: Like let's have a thing, have you got a million

388
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Speaker 3: dollars in your savings account to make.

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Speaker 1: It worth moving that?

390
00:17:06,560 --> 00:17:09,480
Speaker 3: Or are you just chasing Oh well they're at one percent,

391
00:17:09,720 --> 00:17:12,240
Speaker 3: mind dropped two point seven, like you're chasing two or

392
00:17:12,240 --> 00:17:15,479
Speaker 3: three dollars. And what you don't remember there is you're

393
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Speaker 3: going to pay tax on that as well, so it's

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Speaker 3: even less so at the end of the day, I

395
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Speaker 3: think it's really important to understand that savings rates are

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Speaker 3: just that they are savings rates, Like we're investing for

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Speaker 3: the future, not saving for our futures, because otherwise you

398
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Speaker 3: just won't have the same amount to invest.

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Speaker 2: Do you think it would be Okay, though, if you

400
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Speaker 2: did just have two or three years, if your kid's

401
00:17:36,600 --> 00:17:38,840
Speaker 2: fifteen and you want to help them out with the car, Like,

402
00:17:39,640 --> 00:17:42,360
Speaker 2: could you put away ten dollars a week into savings?

403
00:17:42,440 --> 00:17:44,560
Speaker 3: Oh, yeah, I would put I would put it into

404
00:17:44,600 --> 00:17:47,640
Speaker 3: savings and a yeah, a term deposit is a really

405
00:17:47,640 --> 00:17:52,120
Speaker 3: good option. Again, because the interest rate has decreased, term

406
00:17:52,160 --> 00:17:55,440
Speaker 3: deposits have also decreased. But it's not a bad idea.

407
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Speaker 3: If you're putting money aside, that is fantastic. Just make

408
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Speaker 3: sure it's in the best possible vehicle. And for me,

409
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Speaker 3: if you're going to use the savings account, yes, obviously

410
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Speaker 3: get the best interest rate possible if possible. It's not

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Speaker 3: the end of the world if it's like a couple

412
00:18:09,240 --> 00:18:12,880
Speaker 3: of points difference. But make sure you don't have any fees,

413
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Speaker 3: because I don't care if it's returning two and a

414
00:18:14,760 --> 00:18:16,920
Speaker 3: half percent, but then it's charging you two dollars fifty

415
00:18:16,960 --> 00:18:18,960
Speaker 3: a month, like put that in the bin. You're probably

416
00:18:19,000 --> 00:18:22,080
Speaker 3: not making that amount on interest each month anyway, So

417
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Speaker 3: I think no fees is the best way forward for me.

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Speaker 3: And then just put it somewhere safe that it can

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Speaker 3: slowly compound over time.

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Speaker 1: My friends lovely.

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Speaker 2: So there are options.

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Speaker 1: I guess who call them?

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Speaker 2: You know the timeframes that we're working with. When it

424
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Speaker 2: comes to how we actually get it done. Do we

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Speaker 2: invest in the kid's name in our name, in our

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Speaker 2: partner's name. What does that look like?

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Speaker 1: Are you ready?

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Speaker 2: Yes?

429
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Speaker 1: Okay?

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Speaker 3: So you could do a couple of things. The first

431
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Speaker 3: thing you could do is open an online trading account

432
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Speaker 3: for your child and you would then act as the trustee.

433
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Speaker 3: So trustee is kind of like the rest person. They're

434
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Speaker 3: under eighteen, so they clearly can't have an account on

435
00:19:03,600 --> 00:19:06,159
Speaker 3: their own and make their own decisions. As soon as

436
00:19:06,200 --> 00:19:09,160
Speaker 3: the trial becomes eighteen, those shares in that account get

437
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Speaker 3: transferred over to them.

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Speaker 1: It's very exciting.

439
00:19:12,119 --> 00:19:13,800
Speaker 3: You do need to keep in mind that when it

440
00:19:13,840 --> 00:19:16,200
Speaker 3: comes to dividends, which is the money that your shares

441
00:19:16,280 --> 00:19:19,240
Speaker 3: makes you and pays you for owning them money win.

442
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Speaker 3: If you own the shares, then the dividends will need

443
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Speaker 3: to be included in your tax return, so you will

444
00:19:23,720 --> 00:19:26,359
Speaker 3: be paying tax on those, which could increase your income

445
00:19:26,400 --> 00:19:28,760
Speaker 3: and it could result in you paying more tax. However,

446
00:19:29,280 --> 00:19:32,760
Speaker 3: franking credits do mean that additional tax is probably not

447
00:19:32,840 --> 00:19:35,480
Speaker 3: going to be a huge issue for you here. Regardless,

448
00:19:35,480 --> 00:19:37,760
Speaker 3: if you are in a partnership for tax purposes, it's

449
00:19:37,840 --> 00:19:39,800
Speaker 3: usually wiser to put the shares in the name of

450
00:19:39,840 --> 00:19:43,440
Speaker 3: the parent who has the lesser income. Not tax advice,

451
00:19:43,920 --> 00:19:45,879
Speaker 3: just a hot tip that I'm sure a lot of

452
00:19:45,920 --> 00:19:49,640
Speaker 3: accountants would say. Here is the important part of this, though,

453
00:19:49,640 --> 00:19:52,960
Speaker 3: because so many people want to set shares up in

454
00:19:53,040 --> 00:19:55,160
Speaker 3: their child's name because they're like, no, I want.

455
00:19:55,000 --> 00:19:55,840
Speaker 1: Them to be the owner.

456
00:19:55,880 --> 00:19:57,919
Speaker 3: I want them to be empowered, and I want them

457
00:19:57,960 --> 00:19:58,720
Speaker 3: to know it's for them.

458
00:19:58,880 --> 00:19:59,479
Speaker 1: I get that.

459
00:19:59,720 --> 00:20:02,240
Speaker 3: But if you choose to make your child the owner

460
00:20:02,280 --> 00:20:05,600
Speaker 3: of the shares, then any dividends that are paid need

461
00:20:05,680 --> 00:20:08,000
Speaker 3: to be declared in a tax return for your child,

462
00:20:08,040 --> 00:20:09,159
Speaker 3: and they're going to need.

463
00:20:09,040 --> 00:20:10,000
Speaker 1: A tax while number.

464
00:20:10,359 --> 00:20:13,359
Speaker 3: So that all makes I think quite logical sense. But

465
00:20:13,400 --> 00:20:15,400
Speaker 3: the qualm of this, of course, is that if any

466
00:20:15,440 --> 00:20:17,840
Speaker 3: income the tild makes needs to be declared on a

467
00:20:17,960 --> 00:20:22,880
Speaker 3: tax return, they are actually taxed in a very different

468
00:20:22,960 --> 00:20:26,680
Speaker 3: way than us as adults are, because the government essentially

469
00:20:26,720 --> 00:20:31,480
Speaker 3: wants to protect the government wants to protect themselves essentially

470
00:20:31,520 --> 00:20:34,199
Speaker 3: by making sure that we as adults don't use our

471
00:20:34,280 --> 00:20:39,560
Speaker 3: children as tax free vehicles, so they tax us incredibly highly,

472
00:20:40,160 --> 00:20:42,719
Speaker 3: so kids are capped at four hundred and sixteen dollars

473
00:20:42,760 --> 00:20:46,719
Speaker 3: in investment income, and then after that their income is

474
00:20:46,880 --> 00:20:51,359
Speaker 3: taxed at a rate of sixty six percent Georgia, which

475
00:20:51,600 --> 00:20:55,359
Speaker 3: is I would say defeats the purpose. That is incredibly high.

476
00:20:55,359 --> 00:20:58,159
Speaker 3: Please keep in mind the highest marginal tax rate in

477
00:20:58,240 --> 00:21:02,399
Speaker 3: Australia is thirty nine percent. Wow, so when you compare

478
00:21:02,480 --> 00:21:05,959
Speaker 3: that to sixty six percent is a little bit more right.

479
00:21:06,280 --> 00:21:08,760
Speaker 3: So that's wild and you need to take that into consideration.

480
00:21:09,400 --> 00:21:13,000
Speaker 3: And that is why maybe it is really important to

481
00:21:13,040 --> 00:21:16,000
Speaker 3: potentially just invest in your name and just say, hey, child,

482
00:21:16,040 --> 00:21:18,200
Speaker 3: this is yours, and transfer it to them when they're eighteen.

483
00:21:18,440 --> 00:21:20,320
Speaker 3: Keep in mind that if you do transfer it when

484
00:21:20,320 --> 00:21:22,440
Speaker 3: they're eighteen, you might have to pay capital gains taxes

485
00:21:22,440 --> 00:21:25,760
Speaker 3: because you're essentially transferring something yeah sor tax saying it

486
00:21:25,960 --> 00:21:28,440
Speaker 3: yeah in saying that. It just depends on how you're

487
00:21:28,440 --> 00:21:31,200
Speaker 3: going to do it, because essentially you can't just gift

488
00:21:31,200 --> 00:21:33,720
Speaker 3: away shares. You actually have to transfer them, and there

489
00:21:33,760 --> 00:21:37,160
Speaker 3: are fees to be paid when you transfer shares from

490
00:21:37,200 --> 00:21:38,359
Speaker 3: one person to another.

491
00:21:39,160 --> 00:21:42,199
Speaker 2: Okay, So would there be any benefit then V in

492
00:21:42,280 --> 00:21:46,000
Speaker 2: this space looking at micro invest in invest in micro

493
00:21:46,119 --> 00:21:48,720
Speaker 2: investing micro invest in platforms.

494
00:21:49,040 --> 00:21:51,119
Speaker 3: Yeah, so I think that there are a number of

495
00:21:51,160 --> 00:21:54,359
Speaker 3: different platforms. They all have different benefits, but we need

496
00:21:54,400 --> 00:21:57,520
Speaker 3: to remember they are micro investing platforms. They do not

497
00:21:57,760 --> 00:22:00,800
Speaker 3: exist for you to invest in for the long term.

498
00:22:01,280 --> 00:22:03,360
Speaker 3: I do think that they're changing the way that they

499
00:22:03,400 --> 00:22:06,080
Speaker 3: see themselves though they're going from oh around up a

500
00:22:06,119 --> 00:22:08,840
Speaker 3: dollar or two to like invest lump sums, but I

501
00:22:09,000 --> 00:22:11,800
Speaker 3: don't think that they are structured from the beginning to

502
00:22:11,880 --> 00:22:14,440
Speaker 3: be like that. So when you compare it to something

503
00:22:14,520 --> 00:22:17,000
Speaker 3: like Superhero, they're a little bit more comprehensive. They give

504
00:22:17,040 --> 00:22:19,719
Speaker 3: you more options, they give you the ability to change

505
00:22:19,720 --> 00:22:23,080
Speaker 3: what you're actually investing in and select your portfolios, and

506
00:22:23,119 --> 00:22:26,040
Speaker 3: they have a really comprehensive platform that allows you to

507
00:22:26,080 --> 00:22:28,960
Speaker 3: transact at a really low fee, which starts to make

508
00:22:29,000 --> 00:22:31,560
Speaker 3: you think, well, why aren't I using something like that

509
00:22:31,600 --> 00:22:34,440
Speaker 3: instead of the micro investing platform where I just pick

510
00:22:34,520 --> 00:22:37,159
Speaker 3: my risk profile and go, oh, I want to be

511
00:22:37,400 --> 00:22:40,479
Speaker 3: moderately aggressive, and that you get what you get, So

512
00:22:40,520 --> 00:22:43,680
Speaker 3: you get more flexibility with something a little bit more comprehensive,

513
00:22:43,720 --> 00:22:46,840
Speaker 3: which I would argue is a little bit more empowering.

514
00:22:47,040 --> 00:22:48,440
Speaker 1: But as I've said, I.

515
00:22:48,520 --> 00:22:51,240
Speaker 3: Adore micro investing platforms because I think it helps you

516
00:22:51,280 --> 00:22:53,360
Speaker 3: dip your toes in the water with a few dollars

517
00:22:53,640 --> 00:22:56,000
Speaker 3: to start seeing what the markets are doing. You see

518
00:22:56,040 --> 00:22:58,600
Speaker 3: the ebbs and flows, you start to see how the

519
00:22:58,640 --> 00:23:01,439
Speaker 3: market performs, which by way, it's starting to drop at

520
00:23:01,480 --> 00:23:04,480
Speaker 3: the moment I'm looking at even my micro investing platforms

521
00:23:04,520 --> 00:23:08,280
Speaker 3: and I'm like, welly, that's not nice to see. That

522
00:23:08,480 --> 00:23:10,679
Speaker 3: is a couple of hundred dollars less than what I

523
00:23:10,760 --> 00:23:12,240
Speaker 3: had the other day.

524
00:23:12,280 --> 00:23:13,160
Speaker 1: Which is stressful.

525
00:23:13,200 --> 00:23:14,399
Speaker 3: But at the end of the day, that's part of

526
00:23:14,400 --> 00:23:17,040
Speaker 3: the journey, right, and we want to be part of

527
00:23:17,080 --> 00:23:19,439
Speaker 3: the journey. So micro investing platform might be somewaey that

528
00:23:19,480 --> 00:23:23,240
Speaker 3: you start to me, I would want something more comprehensive

529
00:23:23,320 --> 00:23:25,760
Speaker 3: for the long term that has a bit more longevity

530
00:23:25,760 --> 00:23:28,080
Speaker 3: than going, okay, cool, well I've got an app for

531
00:23:28,200 --> 00:23:30,199
Speaker 3: my kid. I want to be able to log in

532
00:23:30,280 --> 00:23:33,520
Speaker 3: and actually have an investment portal where things are actually

533
00:23:33,600 --> 00:23:36,000
Speaker 3: being bought and sold in a bit more of it

534
00:23:36,520 --> 00:23:37,520
Speaker 3: a comprehensive way.

535
00:23:37,600 --> 00:23:39,200
Speaker 2: So that's what Superhero can offer.

536
00:23:39,400 --> 00:23:42,120
Speaker 3: Yeah, Superhero can offer that, and obviously they're the partners

537
00:23:42,160 --> 00:23:44,520
Speaker 3: of today's show. But I would never talk about a

538
00:23:44,520 --> 00:23:47,560
Speaker 3: platform if I didn't genuinely believe in them, and when

539
00:23:47,600 --> 00:23:50,359
Speaker 3: we started talking to them and I really liked it.

540
00:23:50,440 --> 00:23:51,960
Speaker 3: They approached me and they're like, hey, I want to

541
00:23:51,960 --> 00:23:53,360
Speaker 3: talk to you about this, and I was like, oh,

542
00:23:53,440 --> 00:23:56,800
Speaker 3: people in our community have been asking about Superhero and

543
00:23:56,880 --> 00:23:59,440
Speaker 3: it gave me the ability to do a whole heap

544
00:23:59,480 --> 00:24:01,760
Speaker 3: of research and yeah, I really like them. At the

545
00:24:01,840 --> 00:24:04,560
Speaker 3: end of the day, they are making investing a little

546
00:24:04,560 --> 00:24:08,240
Speaker 3: bit more accessible, a little bit more understandable, and it's

547
00:24:08,359 --> 00:24:11,240
Speaker 3: arguably a little bit more affordable as well.

548
00:24:12,040 --> 00:24:14,000
Speaker 2: What do you mean by it more affordable?

549
00:24:14,520 --> 00:24:18,120
Speaker 3: So when we say more affordable, it's all about brokerage.

550
00:24:18,400 --> 00:24:21,480
Speaker 3: So when you talk about investing and I think I've

551
00:24:21,480 --> 00:24:23,440
Speaker 3: covered this a heap of times, butaut I will sound

552
00:24:23,480 --> 00:24:25,359
Speaker 3: like a broken record because that's how we do on

553
00:24:25,440 --> 00:24:28,479
Speaker 3: this podcast. At the end of the day, you have

554
00:24:28,560 --> 00:24:31,159
Speaker 3: to pay brokerage and that is when you buy and

555
00:24:31,200 --> 00:24:33,720
Speaker 3: sell a share. So you would go and buy a

556
00:24:33,720 --> 00:24:36,640
Speaker 3: share and say hey, mister broker, can you please purchase

557
00:24:36,680 --> 00:24:39,760
Speaker 3: me in ten of X. They are brokering that deal

558
00:24:39,800 --> 00:24:42,639
Speaker 3: for you and the platform has to transact and to

559
00:24:42,720 --> 00:24:45,600
Speaker 3: buy and sell things on the AX. Here in Australia,

560
00:24:45,720 --> 00:24:48,200
Speaker 3: you actually have to pay a broker, like there's always

561
00:24:48,240 --> 00:24:51,160
Speaker 3: a middleman of some form. You can go direct shares,

562
00:24:51,200 --> 00:24:54,920
Speaker 3: but like usually there's fees involved. So when I say

563
00:24:54,920 --> 00:24:57,320
Speaker 3: it's cheaper, I'm comparing it to the likes of like

564
00:24:57,480 --> 00:25:00,960
Speaker 3: comm Circle, like self Wealth, or these other platforms that

565
00:25:01,080 --> 00:25:03,520
Speaker 3: people trade on, and I'm not saying they're bad, but

566
00:25:03,560 --> 00:25:06,600
Speaker 3: they have higher brokereage fees. I think Comsec at the

567
00:25:06,600 --> 00:25:09,560
Speaker 3: moment is nineteen ninety five to make a trade, and

568
00:25:09,640 --> 00:25:14,160
Speaker 3: self Wealth starts from like nine dollars ninety from memory,

569
00:25:14,400 --> 00:25:16,679
Speaker 3: which at the end of the day doesn't sound like

570
00:25:16,720 --> 00:25:17,439
Speaker 3: that much money.

571
00:25:17,520 --> 00:25:17,720
Speaker 1: Right.

572
00:25:17,840 --> 00:25:20,880
Speaker 3: If we said, hey, gee, you've got one hundred bucks

573
00:25:20,880 --> 00:25:22,720
Speaker 3: to invest, you're like nine dollars ninety I've got one

574
00:25:22,800 --> 00:25:26,280
Speaker 3: hundred dollar ruse. Well, that's actually nearly ten percent of

575
00:25:26,280 --> 00:25:29,399
Speaker 3: what your investment is. So if we look at it

576
00:25:29,440 --> 00:25:32,000
Speaker 3: in terms of a return, you go, well, I've got

577
00:25:32,000 --> 00:25:33,960
Speaker 3: one hundred dollars Victoria, and I go, okay, well nine

578
00:25:33,960 --> 00:25:37,439
Speaker 3: dollars ninety, So nine point nine percent of your current

579
00:25:37,480 --> 00:25:40,600
Speaker 3: investment is actually already going to be lost.

580
00:25:40,280 --> 00:25:42,040
Speaker 1: When you put it into the market.

581
00:25:42,200 --> 00:25:44,520
Speaker 3: You go, oh, so that means that you need to

582
00:25:44,560 --> 00:25:47,480
Speaker 3: be making nine dollars ninety or nine point nine percent

583
00:25:47,560 --> 00:25:50,879
Speaker 3: in return just to break even on your investment to

584
00:25:50,960 --> 00:25:52,800
Speaker 3: make it back, and then you'd want to make more.

585
00:25:53,080 --> 00:25:55,480
Speaker 3: And we keep saying things like, oh, the average return

586
00:25:55,720 --> 00:25:59,040
Speaker 3: is eleven percent in Australia, and I use between five

587
00:25:59,080 --> 00:26:02,399
Speaker 3: and seven and ah percent depending on how I'm feeling

588
00:26:02,440 --> 00:26:06,040
Speaker 3: that day as an example. And the reason I do

589
00:26:06,080 --> 00:26:08,119
Speaker 3: that is because that's just a bit more of a

590
00:26:08,119 --> 00:26:11,800
Speaker 3: conservative option. But if you're saying to me, Victoria, I've

591
00:26:11,840 --> 00:26:14,600
Speaker 3: lost my nine dollars ninety because I use self wealth

592
00:26:14,800 --> 00:26:17,000
Speaker 3: or com second, I'm not saying these are bad things.

593
00:26:17,040 --> 00:26:19,400
Speaker 3: We're just using it as an example. This is just brokerage.

594
00:26:19,440 --> 00:26:22,320
Speaker 3: It is a thing that exists. You're then telling me

595
00:26:22,359 --> 00:26:24,320
Speaker 3: you need to make nine point nine percent plus the

596
00:26:24,359 --> 00:26:25,800
Speaker 3: five percent i'm assuming.

597
00:26:25,880 --> 00:26:28,359
Speaker 1: So we're now at a really high risk profile.

598
00:26:28,680 --> 00:26:32,119
Speaker 3: We are now shooting at returns that are not common

599
00:26:32,200 --> 00:26:35,240
Speaker 3: if you are just investing normally. We are now expecting

600
00:26:35,280 --> 00:26:37,919
Speaker 3: a fifteen percent return at a minimum.

601
00:26:38,119 --> 00:26:39,359
Speaker 1: Wow, Like that's not normal.

602
00:26:39,560 --> 00:26:42,119
Speaker 2: Well that's time three. What you usually say is a

603
00:26:42,119 --> 00:26:43,959
Speaker 2: conservative return exactly.

604
00:26:44,520 --> 00:26:48,119
Speaker 3: Hello, thank you. So that's my rant about brokerage and

605
00:26:48,160 --> 00:26:51,199
Speaker 3: why I think it's really cool that a platform like

606
00:26:51,480 --> 00:26:53,040
Speaker 3: Superhero exists one.

607
00:26:53,080 --> 00:26:54,200
Speaker 1: They're a pretty platform.

608
00:26:54,320 --> 00:26:57,520
Speaker 3: Obviously, aesthetics are really important, but they start trading at

609
00:26:57,560 --> 00:26:59,440
Speaker 3: five dollars and that's kind of cool because.

610
00:26:59,280 --> 00:27:02,840
Speaker 1: It makes it a little bit more accessible. Yeah, and

611
00:27:02,880 --> 00:27:05,560
Speaker 1: I like that. I love that all right.

612
00:27:05,600 --> 00:27:08,440
Speaker 3: To wrap this all up, you can head to www

613
00:27:08,600 --> 00:27:11,000
Speaker 3: dot superhero dot com dot au to find out more

614
00:27:11,040 --> 00:27:13,680
Speaker 3: about our new friends from Superhero, or you can just

615
00:27:13,720 --> 00:27:15,280
Speaker 3: click the link in our show notes.

616
00:27:15,760 --> 00:27:18,320
Speaker 2: Now, we will be back after a very short break

617
00:27:18,320 --> 00:27:21,159
Speaker 2: to tackle tax and talk through the potential risks of

618
00:27:21,200 --> 00:27:39,440
Speaker 2: putting money away for our kids. Don't go anywhere now, guys,

619
00:27:39,840 --> 00:27:43,640
Speaker 2: you're probably across it. We've mentioned them a few times,

620
00:27:43,680 --> 00:27:46,040
Speaker 2: but if you're not already, please join us on our

621
00:27:46,119 --> 00:27:52,000
Speaker 2: Facebook page, which is even with financial even put me off, Why.

622
00:27:51,840 --> 00:27:52,879
Speaker 1: Did I say? Hen?

623
00:27:53,240 --> 00:27:54,920
Speaker 2: I'm sorry everyone.

624
00:27:54,520 --> 00:27:56,320
Speaker 1: I kind of want to have that left in there.

625
00:27:56,400 --> 00:27:58,720
Speaker 3: But yeah, we're on Instagram, We're on Facebook, we're on

626
00:27:58,760 --> 00:28:01,880
Speaker 3: YouTube or on TikTok, and every single week g King

627
00:28:02,160 --> 00:28:04,359
Speaker 3: writes you, guys a love letter in the form of

628
00:28:04,400 --> 00:28:07,400
Speaker 3: a newsletter. It is a love letter. You always write

629
00:28:07,440 --> 00:28:10,399
Speaker 3: so beautifully, honestly, really, yeah, don't be silly.

630
00:28:10,440 --> 00:28:12,160
Speaker 1: Everybody loves your work.

631
00:28:12,760 --> 00:28:15,920
Speaker 3: I cannot believe how many people actually read our newsletter,

632
00:28:16,359 --> 00:28:18,760
Speaker 3: like your click great stretch, King, very high stop.

633
00:28:18,760 --> 00:28:23,600
Speaker 1: You're a popular gown. So we'll pres through. Yeah, exactly.

634
00:28:23,640 --> 00:28:25,840
Speaker 3: We will put the link to the newsletter in ourt

635
00:28:25,880 --> 00:28:29,119
Speaker 3: show notes because with all of the circus going on

636
00:28:29,160 --> 00:28:31,280
Speaker 3: at the moment, like with Facebook not having news and

637
00:28:31,359 --> 00:28:33,119
Speaker 3: now having news back and all of that. Yeah, I

638
00:28:33,119 --> 00:28:35,199
Speaker 3: actually think it's a priority for us. And she's on

639
00:28:35,240 --> 00:28:37,600
Speaker 3: the money to make sure that we actually keep building

640
00:28:37,600 --> 00:28:41,440
Speaker 3: our newsletter and keep building that contact system for us,

641
00:28:41,520 --> 00:28:43,280
Speaker 3: because if we ever lose it, like what if we

642
00:28:43,320 --> 00:28:46,080
Speaker 3: got categorized as news Like we're not, but what if

643
00:28:46,120 --> 00:28:48,840
Speaker 3: we did, because so many people did lose their platforms

644
00:28:48,880 --> 00:28:51,320
Speaker 3: during that little bit of a circus, Like that'll be

645
00:28:51,360 --> 00:28:53,520
Speaker 3: where we communicate with you. Yeah, yeah, I don't want

646
00:28:53,520 --> 00:28:55,120
Speaker 3: you to get lost. You don't want to get lost

647
00:28:55,200 --> 00:28:56,000
Speaker 3: and join us.

648
00:28:56,160 --> 00:28:58,040
Speaker 2: And it's got all of our updates in there as well,

649
00:28:58,120 --> 00:28:59,520
Speaker 2: so it's a very good place to go.

650
00:28:59,640 --> 00:29:00,000
Speaker 1: Exactly.

651
00:29:00,640 --> 00:29:03,120
Speaker 2: Now, I did some digging in our Facebook group Good

652
00:29:03,120 --> 00:29:06,040
Speaker 2: on You, George, and found a comment from Michelle, who

653
00:29:06,160 --> 00:29:09,200
Speaker 2: from the age of five, puts money into a savings

654
00:29:09,200 --> 00:29:11,880
Speaker 2: account each week for her kids based on how old

655
00:29:11,920 --> 00:29:14,560
Speaker 2: they are. So Michelle isn't five, her kids are five

656
00:29:14,640 --> 00:29:17,440
Speaker 2: when she starts this process. So five dollars per week

657
00:29:17,480 --> 00:29:19,760
Speaker 2: when they're five, six dollars per week when they're six,

658
00:29:19,840 --> 00:29:22,320
Speaker 2: and so on, and she's planning on doing this until

659
00:29:22,320 --> 00:29:25,200
Speaker 2: the kids are eighteen, which I thought sounded like a

660
00:29:25,240 --> 00:29:29,040
Speaker 2: pretty cool idea. But V is there anything wrong with

661
00:29:29,480 --> 00:29:31,080
Speaker 2: investing this way?

662
00:29:31,880 --> 00:29:35,520
Speaker 3: Okay, So this is where we are probably a little

663
00:29:35,520 --> 00:29:39,360
Speaker 3: bit confused. This is saving for your kid's future, not investing,

664
00:29:39,480 --> 00:29:43,760
Speaker 3: which is also very exciting. But given your time frames,

665
00:29:43,800 --> 00:29:47,760
Speaker 3: I would really recommend having a look into investing, because

666
00:29:47,840 --> 00:29:50,080
Speaker 3: at the end of the day, the savings rates are

667
00:29:50,080 --> 00:29:52,720
Speaker 3: not keeping up with inflation, and you're actually going to

668
00:29:52,760 --> 00:29:56,000
Speaker 3: be ending up with less money over time. And now

669
00:29:56,400 --> 00:29:58,160
Speaker 3: that doesn't mean some magical fairy is going to come

670
00:29:58,200 --> 00:30:00,280
Speaker 3: and take money from your account and you you thought

671
00:30:00,280 --> 00:30:02,600
Speaker 3: you had eight thousand dollars, you now have six thousand, Like,

672
00:30:02,640 --> 00:30:05,000
Speaker 3: that's not how it works. Like you'll still have the

673
00:30:05,040 --> 00:30:08,200
Speaker 3: same amount of money, but in the future will purchase

674
00:30:08,280 --> 00:30:09,840
Speaker 3: you less, which is why.

675
00:30:09,600 --> 00:30:10,959
Speaker 1: We want investment return.

676
00:30:11,240 --> 00:30:14,640
Speaker 3: So when we talk about inflation eating up your returns,

677
00:30:14,960 --> 00:30:17,160
Speaker 3: what we mean is like a loaf of bread the

678
00:30:17,240 --> 00:30:19,320
Speaker 3: other week cost Georgia king eight dollars.

679
00:30:19,640 --> 00:30:19,920
Speaker 2: Rough.

680
00:30:20,040 --> 00:30:22,840
Speaker 3: Yeah it was pretty rough, But that loaf of bread

681
00:30:22,840 --> 00:30:25,880
Speaker 3: in ten years might cost ten. So therefore, the money

682
00:30:25,880 --> 00:30:28,320
Speaker 3: in your savings account is now buying you less, which

683
00:30:28,400 --> 00:30:30,960
Speaker 3: is why we want to invest so that we one

684
00:30:31,080 --> 00:30:33,400
Speaker 3: keep up with the rate of inflation, which is on

685
00:30:33,480 --> 00:30:36,880
Speaker 3: average about two two and a half percent, but also

686
00:30:36,960 --> 00:30:39,080
Speaker 3: get some more money so that our money makes us

687
00:30:39,120 --> 00:30:42,280
Speaker 3: money and we know, create wealth. But if they're six

688
00:30:42,440 --> 00:30:45,200
Speaker 3: and you're investing from ten plus years, because they're not

689
00:30:45,240 --> 00:30:48,040
Speaker 3: going to be accessing it until they're eighteen, like, it

690
00:30:48,240 --> 00:30:51,640
Speaker 3: seems like a no brainer to really be interested in

691
00:30:51,960 --> 00:30:55,080
Speaker 3: working out what type of investment vehicle you could have, because.

692
00:30:54,840 --> 00:30:57,080
Speaker 1: You could still have a super.

693
00:30:56,960 --> 00:31:00,959
Speaker 3: Super conservative investment vehicle and be making like four five percent,

694
00:31:01,200 --> 00:31:03,400
Speaker 3: and that's for a five percent you didn't have before

695
00:31:03,720 --> 00:31:04,560
Speaker 3: and you can still.

696
00:31:04,400 --> 00:31:05,120
Speaker 1: Sleep well at night.

697
00:31:06,120 --> 00:31:10,200
Speaker 2: Ah Okay, I want to pivot here to use the

698
00:31:10,440 --> 00:31:15,080
Speaker 2: much overused phrase of twenty twenty and talk about family trusts.

699
00:31:15,280 --> 00:31:17,960
Speaker 2: Oh yeah, okay, hear about these a lot, but you

700
00:31:18,360 --> 00:31:19,520
Speaker 2: don't know what they are.

701
00:31:19,640 --> 00:31:23,280
Speaker 1: That's because we're not born into wealth. Georgia, like, no.

702
00:31:23,240 --> 00:31:26,200
Speaker 3: Trust funds for us, trust on baby, but that's not

703
00:31:26,280 --> 00:31:28,720
Speaker 3: just what it is. So according to the ATO, a

704
00:31:28,760 --> 00:31:31,880
Speaker 3: trust is an obligation imposed on a person or other

705
00:31:32,000 --> 00:31:35,800
Speaker 3: entity told property for the benefit of its beneficiaries. So

706
00:31:36,000 --> 00:31:38,480
Speaker 3: while in legal terms the trust is a relationship not

707
00:31:38,600 --> 00:31:43,000
Speaker 3: a legal entity, trusts are treated as taxpayer entity, so

708
00:31:43,040 --> 00:31:46,640
Speaker 3: they're treated as their own individual person, right not, but

709
00:31:46,680 --> 00:31:49,360
Speaker 3: they're treated that way when it comes to tax admins.

710
00:31:49,360 --> 00:31:52,320
Speaker 3: So they have their own tax return. So the trustee

711
00:31:52,360 --> 00:31:55,120
Speaker 3: is then responsible for managing the trust tax affairs. So

712
00:31:55,160 --> 00:31:58,640
Speaker 3: when we said trustee earlier, trustee is the person responsible.

713
00:31:58,720 --> 00:32:01,440
Speaker 3: So you have to do the type return for that trust,

714
00:32:02,000 --> 00:32:05,120
Speaker 3: including registering that trust in the tax system and lodging

715
00:32:05,160 --> 00:32:07,240
Speaker 3: tax returns every year and paying some of the tax

716
00:32:07,240 --> 00:32:09,000
Speaker 3: liabilities if they exist.

717
00:32:09,760 --> 00:32:10,480
Speaker 1: Does that make sense?

718
00:32:11,000 --> 00:32:13,520
Speaker 2: Is that just one person that's the trustee?

719
00:32:13,680 --> 00:32:16,400
Speaker 3: Yes, okay, yes, it could be like you can do

720
00:32:16,520 --> 00:32:19,080
Speaker 3: a lot inside a trust. But at the end of

721
00:32:19,120 --> 00:32:21,760
Speaker 3: the day, yes, you would nominate one person who's responsible

722
00:32:21,760 --> 00:32:24,760
Speaker 3: for that and then a beneficiary, which I just feel

723
00:32:24,800 --> 00:32:27,120
Speaker 3: like there's so many fluffy words in finance that just

724
00:32:27,360 --> 00:32:27,880
Speaker 3: makes sense.

725
00:32:28,120 --> 00:32:29,400
Speaker 1: It just sipits.

726
00:32:29,520 --> 00:32:31,560
Speaker 3: Yeah, it just means the people that are nominated to

727
00:32:31,640 --> 00:32:34,840
Speaker 3: benefit from that trust. Right, So if you're the beneficiary,

728
00:32:35,000 --> 00:32:38,040
Speaker 3: you are the individual who would benefit from it. And

729
00:32:38,120 --> 00:32:42,400
Speaker 3: beneficiaries include their shares of the trusts net income as

730
00:32:42,440 --> 00:32:45,120
Speaker 3: an income of their own tax return. So like if

731
00:32:45,160 --> 00:32:47,680
Speaker 3: you are the beneficiary of that trust and you earned

732
00:32:47,720 --> 00:32:50,000
Speaker 3: fifty percent of it, therefore you would have to declare

733
00:32:50,080 --> 00:32:52,240
Speaker 3: fifty percent on your tax returns.

734
00:32:52,240 --> 00:32:54,000
Speaker 2: And they become the same way.

735
00:32:54,680 --> 00:32:57,600
Speaker 3: You become intertwined in a way, and you have to declare.

736
00:32:57,600 --> 00:32:59,360
Speaker 3: It's like an independent relationship.

737
00:32:59,600 --> 00:32:59,920
Speaker 1: Hang on.

738
00:33:00,400 --> 00:33:03,960
Speaker 2: So, so you've got this trust, and you've got Janine

739
00:33:04,000 --> 00:33:07,320
Speaker 2: who's twenty, she's on minimum wage and doesn't get tax

740
00:33:07,400 --> 00:33:09,800
Speaker 2: that much, and so that's the daughter. And then you've

741
00:33:09,840 --> 00:33:13,880
Speaker 2: got Papa Jene, Jeene and Jeanine. What is happening Papa

742
00:33:14,000 --> 00:33:17,960
Speaker 2: Jane who's on like two hundred two k nice? Yeah, nice,

743
00:33:18,120 --> 00:33:21,640
Speaker 2: and he gets taxed quite a bit. So then whatever

744
00:33:21,640 --> 00:33:25,560
Speaker 2: they make from this trust, yeah, gets spewed to both

745
00:33:25,560 --> 00:33:28,680
Speaker 2: of them, and then they'll get taxed differently, right because.

746
00:33:28,400 --> 00:33:31,640
Speaker 3: Of the dividends. So dividends are income yep. And if

747
00:33:31,680 --> 00:33:34,000
Speaker 3: you don't have an income, or you have a very

748
00:33:34,080 --> 00:33:37,240
Speaker 3: low income, you'd obviously be taxed at a lower tax rate.

749
00:33:37,400 --> 00:33:41,120
Speaker 3: Then Papa Gene is at the highest marginal tax. Right,

750
00:33:41,440 --> 00:33:42,920
Speaker 3: she's earning more than one eighty a year.

751
00:33:43,320 --> 00:33:44,280
Speaker 2: Sorry, Papa Gine.

752
00:33:44,320 --> 00:33:44,640
Speaker 3: Yeah, I know.

753
00:33:45,720 --> 00:33:48,240
Speaker 1: Also great example, Papa Gene.

754
00:33:48,280 --> 00:33:51,160
Speaker 3: Like that's a guy, right, yeah, yeah, he called his

755
00:33:51,240 --> 00:33:52,000
Speaker 3: daughter Jeanine.

756
00:33:52,080 --> 00:33:55,720
Speaker 2: I know you can't do that. You can't rhyme your name.

757
00:33:56,560 --> 00:33:58,680
Speaker 1: My name's Gene. I'm gonna call my kid Jeanine.

758
00:33:59,360 --> 00:34:01,560
Speaker 2: No, lucky, he is not real.

759
00:34:01,760 --> 00:34:03,960
Speaker 3: If your name's Jena and your dad's names Gen, I'm sorry,

760
00:34:04,120 --> 00:34:07,000
Speaker 3: yeah no. But there are some special rules there, and

761
00:34:07,040 --> 00:34:10,640
Speaker 3: it's really important to understand that lots of different trusts exist,

762
00:34:10,800 --> 00:34:13,520
Speaker 3: and I might do in the future a very niche

763
00:34:13,560 --> 00:34:16,799
Speaker 3: episode because I don't know how many people are interested

764
00:34:16,840 --> 00:34:18,480
Speaker 3: in learning about it. But there are a number of

765
00:34:18,520 --> 00:34:22,160
Speaker 3: different trusts, and the important thing to understand is you'll

766
00:34:22,160 --> 00:34:26,600
Speaker 3: get taxed in a trust at your taxable income. But

767
00:34:26,719 --> 00:34:29,520
Speaker 3: there is a thing called a testamentary trust versus a

768
00:34:29,520 --> 00:34:32,000
Speaker 3: family trust, and things do start to get a little

769
00:34:32,040 --> 00:34:36,200
Speaker 3: bit complicated. But a testamentary trust is a trust that's

770
00:34:36,239 --> 00:34:39,759
Speaker 3: created by somebody's will. So it is you know, you

771
00:34:39,840 --> 00:34:41,440
Speaker 3: might say, and you will, oh, I want to create

772
00:34:41,480 --> 00:34:44,040
Speaker 3: a trust, and in the trust will be all of

773
00:34:44,080 --> 00:34:46,600
Speaker 3: my money, and I want it to go to Georgia,

774
00:34:46,640 --> 00:34:48,879
Speaker 3: but I want it to stay in the trust that

775
00:34:49,320 --> 00:34:52,440
Speaker 3: does not take effect until after that person who created

776
00:34:52,440 --> 00:34:55,840
Speaker 3: that will dies. So a testamentary trust can only be

777
00:34:56,040 --> 00:34:59,480
Speaker 3: established on death, which is a bit crazy, but it's

778
00:34:59,520 --> 00:35:02,839
Speaker 3: also way that a lot of people inherit money. Now

779
00:35:02,920 --> 00:35:07,440
Speaker 3: there is a very very big benefit of a testamentary trust,

780
00:35:07,480 --> 00:35:11,000
Speaker 3: which I've actually seen a lot of clients recently. I

781
00:35:11,000 --> 00:35:13,480
Speaker 3: don't know where they're getting their advice from, but a

782
00:35:13,520 --> 00:35:16,640
Speaker 3: testamentary trust, if you've got money special like it is

783
00:35:16,840 --> 00:35:20,440
Speaker 3: so so special because it has different tax obligations and

784
00:35:20,560 --> 00:35:23,239
Speaker 3: essentially it is not taxed in the same way, and

785
00:35:23,320 --> 00:35:27,719
Speaker 3: you can distribute income from that trust to miners and

786
00:35:27,760 --> 00:35:31,120
Speaker 3: to other people without paying that sixty six percent tax rush.

787
00:35:31,719 --> 00:35:35,240
Speaker 3: So there are a lot of benefits. And I've actually

788
00:35:35,239 --> 00:35:38,239
Speaker 3: spoken to clients more recently who have taken on who say,

789
00:35:38,400 --> 00:35:40,520
Speaker 3: you know, they've been through some really terrible stuff like

790
00:35:40,520 --> 00:35:42,719
Speaker 3: a parent might have passed away, your grandparent might have

791
00:35:42,760 --> 00:35:46,480
Speaker 3: passed away, and they have a very significant inheritance and

792
00:35:46,520 --> 00:35:48,040
Speaker 3: they'll be like, yeah, yeah, I just pulled it all

793
00:35:48,080 --> 00:35:49,800
Speaker 3: out of the trust. It's sitting in my bank account

794
00:35:49,880 --> 00:35:52,200
Speaker 3: and you know I got rid of the trust. Oh

795
00:35:52,200 --> 00:35:55,400
Speaker 3: my gosh, Like that's such a powerful tool because that

796
00:35:55,440 --> 00:35:57,759
Speaker 3: can then benefit your babies in the future. So if

797
00:35:57,800 --> 00:36:00,120
Speaker 3: we're investing for our children and you somehow end up

798
00:36:00,120 --> 00:36:02,880
Speaker 3: with a testamentary trust, you hold that close because you

799
00:36:02,920 --> 00:36:05,800
Speaker 3: can't just get one. Someone literally needs to die to

800
00:36:06,000 --> 00:36:09,640
Speaker 3: establish one. So if you have one, that is very helpful.

801
00:36:10,239 --> 00:36:14,320
Speaker 2: Now I have my final question for you here, Victorian.

802
00:36:14,440 --> 00:36:15,720
Speaker 1: No more trust questions.

803
00:36:15,760 --> 00:36:18,000
Speaker 2: No more trust questions unless you've got anything else you

804
00:36:18,000 --> 00:36:18,520
Speaker 2: want to say.

805
00:36:18,880 --> 00:36:20,040
Speaker 1: Trust can hold anything.

806
00:36:20,200 --> 00:36:23,600
Speaker 3: Actually, that's a very exciting thing to put in there,

807
00:36:23,800 --> 00:36:28,200
Speaker 3: Like what so you can hold obviously, shares, money, cash,

808
00:36:28,239 --> 00:36:31,480
Speaker 3: You could put properties inside a trust. You could have boats,

809
00:36:31,520 --> 00:36:34,560
Speaker 3: you could have business homes, you can have businesses. But

810
00:36:34,719 --> 00:36:37,880
Speaker 3: I also have a client who has a vintage wine

811
00:36:37,880 --> 00:36:39,560
Speaker 3: collection in his trust.

812
00:36:40,760 --> 00:36:44,040
Speaker 1: That's fun. He also has like a vintage car. You

813
00:36:44,080 --> 00:36:45,560
Speaker 1: can put anything in your trust.

814
00:36:45,680 --> 00:36:49,200
Speaker 2: Okay, exciting and if you do want to look at

815
00:36:49,360 --> 00:36:53,680
Speaker 2: setting that up, that's a trip to the financial advice No.

816
00:36:53,680 --> 00:36:56,560
Speaker 3: So, I as a financial advisor, can't establish one, but

817
00:36:56,600 --> 00:36:59,040
Speaker 3: I can recommend that you have one, and then we

818
00:36:59,080 --> 00:37:02,400
Speaker 3: need an accountant to facilitate that, which is why if

819
00:37:02,440 --> 00:37:05,759
Speaker 3: you've got a financial advisor, having an accountant that you

820
00:37:05,800 --> 00:37:09,040
Speaker 3: can talk to that gets along with your financial advisor

821
00:37:09,160 --> 00:37:10,760
Speaker 3: is really important because they work together.

822
00:37:10,880 --> 00:37:12,480
Speaker 1: Yeah, in a little bit of a partnership.

823
00:37:12,920 --> 00:37:15,960
Speaker 2: Okay, well that brings me to my final question for today,

824
00:37:16,000 --> 00:37:18,560
Speaker 2: what is it king? So? I feel like some people

825
00:37:18,680 --> 00:37:21,880
Speaker 2: listening may think that there could be a risk in

826
00:37:22,040 --> 00:37:25,640
Speaker 2: setting our kids up so well, so young. Is there

827
00:37:25,680 --> 00:37:28,200
Speaker 2: a risk that they could become slightly entitled or not

828
00:37:28,320 --> 00:37:31,719
Speaker 2: really understand the worth of money. Is that something that

829
00:37:31,800 --> 00:37:34,120
Speaker 2: you see ever? Or do you think this is just

830
00:37:34,160 --> 00:37:35,160
Speaker 2: a really good idea.

831
00:37:35,239 --> 00:37:37,840
Speaker 3: Well, we're millennials, aren't we already all entitled?

832
00:37:38,320 --> 00:37:38,520
Speaker 2: Yeah?

833
00:37:39,120 --> 00:37:42,120
Speaker 1: I like no problems, we know.

834
00:37:42,520 --> 00:37:44,440
Speaker 3: I think that that's a really important thing, and that's

835
00:37:44,440 --> 00:37:46,720
Speaker 3: where we need to teach kids the value of money.

836
00:37:46,760 --> 00:37:48,640
Speaker 3: I also think there are probably a heap of people

837
00:37:48,719 --> 00:37:51,480
Speaker 3: listening who go, Victoria, I can't afford to do that

838
00:37:51,520 --> 00:37:53,400
Speaker 3: for my kid, Like that sounds so nice. Am I

839
00:37:53,480 --> 00:37:54,920
Speaker 3: letting them down by not doing this?

840
00:37:55,280 --> 00:37:56,400
Speaker 1: No? Absolutely not.

841
00:37:56,719 --> 00:37:58,640
Speaker 3: But you are letting them down if you don't teach

842
00:37:58,680 --> 00:38:01,040
Speaker 3: them about money. So you don't need to have money

843
00:38:01,080 --> 00:38:03,960
Speaker 3: to teach about money and you don't need to be

844
00:38:04,040 --> 00:38:07,600
Speaker 3: investing for someone's future from your own pocket to teach

845
00:38:07,640 --> 00:38:10,719
Speaker 3: them that investing is a priority. So I talk to

846
00:38:10,760 --> 00:38:13,120
Speaker 3: people all the time. I have so many people who

847
00:38:13,160 --> 00:38:15,080
Speaker 3: are under eighteen and the she's on the money community,

848
00:38:15,080 --> 00:38:17,480
Speaker 3: which is crazy, you d I mean, like, oh my gosh, Victoria,

849
00:38:17,520 --> 00:38:19,800
Speaker 3: can't wait till I turn eighteen and I can start investing,

850
00:38:20,040 --> 00:38:21,399
Speaker 3: Like that's what we want to hear.

851
00:38:21,719 --> 00:38:23,279
Speaker 1: We're not expecting.

852
00:38:22,760 --> 00:38:25,640
Speaker 3: Somebody to set us up, but if you do, I

853
00:38:25,680 --> 00:38:28,960
Speaker 3: think getting your child interested in finance and showing them

854
00:38:29,000 --> 00:38:31,239
Speaker 3: the ropes is a really really great way instead of

855
00:38:31,239 --> 00:38:34,160
Speaker 3: just gifting them twenty grand, but teaching them about shares

856
00:38:34,160 --> 00:38:36,400
Speaker 3: and the reason we invest in, the reason we donate

857
00:38:36,440 --> 00:38:39,200
Speaker 3: to charity, and the reason we do things is really

858
00:38:39,239 --> 00:38:41,600
Speaker 3: really important. And if they're part of that process when

859
00:38:41,600 --> 00:38:43,919
Speaker 3: they get to eighteen, maybe they'll say no, no, no, mum,

860
00:38:43,960 --> 00:38:45,759
Speaker 3: I don't really want to sell that down. I want

861
00:38:45,760 --> 00:38:48,080
Speaker 3: it to invest and you know, have the opportunity of

862
00:38:48,080 --> 00:38:50,480
Speaker 3: growth in the future. Instead of them getting to eighteen

863
00:38:50,520 --> 00:38:52,239
Speaker 3: and be like, stick, I've got that lump, someone pull

864
00:38:52,239 --> 00:38:54,120
Speaker 3: it out and spend it on a car, what you

865
00:38:54,160 --> 00:38:56,759
Speaker 3: actually want them to do is make a decision about

866
00:38:56,760 --> 00:38:57,960
Speaker 3: their investment portfolio.

867
00:38:58,239 --> 00:39:00,160
Speaker 2: Okay, so I guess the moral of today's.

868
00:39:00,360 --> 00:39:01,640
Speaker 1: Talk about money with your kids.

869
00:39:01,680 --> 00:39:03,680
Speaker 2: Talk about money with your kids, and it's a really

870
00:39:03,760 --> 00:39:07,839
Speaker 2: awesome opportunity not only to foster that wealth for them

871
00:39:07,880 --> 00:39:09,959
Speaker 2: for when they do come about asage, but to teach

872
00:39:10,000 --> 00:39:10,680
Speaker 2: them about money.

873
00:39:10,719 --> 00:39:12,920
Speaker 3: Absolutely, And if you are going to invest with kids,

874
00:39:12,960 --> 00:39:15,360
Speaker 3: have a look into an investment bond. That could be

875
00:39:15,440 --> 00:39:18,400
Speaker 3: a really great way to invest for their future. Also,

876
00:39:18,480 --> 00:39:21,000
Speaker 3: investing under your name might be a better way to

877
00:39:21,040 --> 00:39:23,680
Speaker 3: make sure that they're not paying ridiculous amounts of tax.

878
00:39:24,000 --> 00:39:26,680
Speaker 3: But I think it's all really important. At the end

879
00:39:26,719 --> 00:39:29,680
Speaker 3: of the day, something that is so simple can be

880
00:39:29,760 --> 00:39:33,399
Speaker 3: quite complicated. But learn the different options and then pick

881
00:39:33,400 --> 00:39:35,440
Speaker 3: one that's right for you and just stick to it.

882
00:39:35,920 --> 00:39:37,920
Speaker 2: I think that is all we have time for today.

883
00:39:38,000 --> 00:39:40,120
Speaker 1: V Yes, absolutely it is.

884
00:39:40,160 --> 00:39:42,239
Speaker 3: But just before we head off, we'd really like to

885
00:39:42,280 --> 00:39:45,279
Speaker 3: acknowledge and pay respect to Australia's Aboriginal and Torres Strait

886
00:39:45,360 --> 00:39:48,680
Speaker 3: islander peoples. They're the traditional custodians of the lands, the

887
00:39:48,719 --> 00:39:52,200
Speaker 3: waterways and the skies all across Australia. We thank you

888
00:39:52,239 --> 00:39:54,200
Speaker 3: for sharing and for caring on the land which we

889
00:39:54,320 --> 00:39:57,040
Speaker 3: are able to learn. We pay our respects to elders

890
00:39:57,040 --> 00:39:59,520
Speaker 3: past and present, and we share our friendship and.

891
00:39:59,520 --> 00:40:03,040
Speaker 2: Our kind And don't forget, guys, that the advice sheared

892
00:40:03,080 --> 00:40:05,239
Speaker 2: on She's on the Money is general in nature and

893
00:40:05,280 --> 00:40:08,960
Speaker 2: does not consider your individual circumstances. She's on the Money

894
00:40:09,080 --> 00:40:12,280
Speaker 2: exists purely for educational purposes and should not be relied

895
00:40:12,320 --> 00:40:15,719
Speaker 2: upon to make an investment or a financial decision. And

896
00:40:15,840 --> 00:40:19,400
Speaker 2: we promise Victoria to find is an authorized representative of

897
00:40:19,400 --> 00:40:23,359
Speaker 2: Australia Pacific Funds Management prior Toary Limited ABN three four

898
00:40:23,360 --> 00:40:26,160
Speaker 2: one three two four six three two five seven AFSL

899
00:40:26,239 --> 00:40:27,880
Speaker 2: three three nine one five one.

900
00:40:28,040 --> 00:40:30,000
Speaker 1: Oh, she legit, She legit.

901
00:40:30,400 --> 00:40:32,840
Speaker 2: And a big thank you to our dream team of

902
00:40:32,880 --> 00:40:36,560
Speaker 2: Brian Beck and Jess for putting today's show Togetherum.

903
00:40:36,080 --> 00:40:38,799
Speaker 3: Howluck here we to have actual legends on our team.

904
00:40:38,840 --> 00:40:40,000
Speaker 2: It's a group of angels.

905
00:40:40,080 --> 00:40:41,360
Speaker 1: It is a group of angels.

906
00:40:41,400 --> 00:40:43,920
Speaker 3: We're always so dramatic about them, but we literally love

907
00:40:43,960 --> 00:40:45,080
Speaker 3: our teams't.

908
00:40:44,600 --> 00:40:46,600
Speaker 1: Do about them. Literally, they're the best.

909
00:40:46,920 --> 00:40:48,880
Speaker 3: We would also you know who else is also the

910
00:40:48,920 --> 00:40:51,680
Speaker 3: best for our community and we would love it if

911
00:40:51,680 --> 00:40:54,279
Speaker 3: you joined our Facebook group where you guys share money

912
00:40:54,320 --> 00:40:57,200
Speaker 3: tips and tricks every single day, free of judgment.

913
00:40:57,400 --> 00:40:59,640
Speaker 1: So she's on the money. On Facebook and join us

914
00:40:59,680 --> 00:41:01,919
Speaker 1: and Facebook so any thing that's cool. You can follow

915
00:41:02,000 --> 00:41:04,239
Speaker 1: us on instaff You can d m us there. You

916
00:41:04,280 --> 00:41:06,200
Speaker 1: can also sign up to the newsletter.

917
00:41:05,800 --> 00:41:08,200
Speaker 3: Where we will slide into your inbox every single Friday

918
00:41:08,239 --> 00:41:09,680
Speaker 3: with very non annoying emails.

919
00:41:09,680 --> 00:41:12,600
Speaker 2: We can see you next week, guys.