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Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations

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Speaker 1: woman and I'm here to acknowledge country t Glenn Young

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Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka nian Ar gay

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Speaker 1: In Nimbina, yak um jar dominyamiga Umagahawakaman damon Imlan Wumba

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Speaker 1: bang Gadabomba in and now in wakah ghana on yakraum

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Speaker 1: jar Watnadaa. Hello, beautiful friends, we gather on the lands

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Speaker 1: of the Aboriginal people. We thank acknowledge and respect the

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Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure

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Speaker 1: in all the land and respect all that you see.

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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,

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Speaker 1: bringing you the tools, knowledge and resources for you to thrive.

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

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Speaker 2: welcome to She's on the Money, the podcast that lets

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Speaker 2: you be pervy about other people's money habits for educational purposes,

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Speaker 2: of course. Welcome back to another one of our Money

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Speaker 2: Darry's episodes where I get the absolute pleasure of sitting

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Speaker 2: down and having a chat with one of our She's

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Speaker 2: on the Money community members all about their money journey.

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Speaker 2: Let's jump straight into it, because I got an email

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Speaker 2: this week and it sounded exactly like this. Hi, she's

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Speaker 2: on the money. When I was twenty one, my partner

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Speaker 2: sadly died and we had been together for seven years.

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Speaker 2: He had no will and his family got everything, including

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Speaker 2: the house, so I left my hometown and traveled to

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Speaker 2: work around Australia. Now I'm in mining and my taxable

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Speaker 2: income is two hundred and three thousand dollars a year,

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Speaker 2: which is crazy to me. But I can't share my

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Speaker 2: financial victories with my friends or family, as they all

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Speaker 2: see it as bragging. But my current networth is seven

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Speaker 2: hundred and fifty thousand dollars completely solo money arrest, welcome

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Speaker 2: to the show.

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Speaker 3: Thank you.

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Speaker 2: Also, it's not bragging. We are sharing our journeys so

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Speaker 2: that other people can learn.

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Speaker 3: Well, that's right, but it is very hard to find

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Speaker 3: people that like to do the same thing.

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Speaker 2: It is true, I think because for so long, like

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Speaker 2: it's been so taboo to talk about money. But like, sorry,

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Speaker 2: the more we talk about money, especially as women weird,

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Speaker 2: the more power we have, the more choice we have.

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Speaker 2: Do you know what they don't like? That do they No,

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Speaker 2: they really don't. No, they don't like that. And given

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Speaker 2: your in mining, I feel like that might be a

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Speaker 2: sticky conversation to have, especially if you're a little bit

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Speaker 2: more financially savvy, especially as a female. So before we

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Speaker 2: get any further into it, I need to know if

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Speaker 2: I asked you to give your money habits a grade

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Speaker 2: from A through to F, what do you think you

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Speaker 2: would grade them?

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Speaker 3: I would say A B, A B.

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Speaker 1: All right.

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Speaker 2: I am very excited to learn more about this. But

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Speaker 2: before we get into why you've given yourself a BEE,

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Speaker 2: I want to go all the way back to when

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Speaker 2: you were twenty one, because you have stayed in your

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Speaker 2: diary in you're forty one now, so this was like

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Speaker 2: twenty years ago, but I can imagine it still feels

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Speaker 2: relatively fresh. What is it like when you are twenty

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Speaker 2: one and you've been with your partner for seven years,

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Speaker 2: which is literally the entire period where you're like forming

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Speaker 2: your personality and yourself for them to pass away.

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Speaker 3: It was devastating and it's amazing. Again, you don't know

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Speaker 3: what you don't know. So when his family, because we

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Speaker 3: both had very rocky family lives when were younger, that's

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Speaker 3: why we kind of clung to each other and we

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Speaker 3: were like we were everything to each other. So when

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Speaker 3: they got the house, it was like I'd failed him

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Speaker 3: at the same time as losing him. So could I

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Speaker 3: have fought for the house. And a lot of people

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Speaker 3: say yes, but you had rights to the house. Yes,

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Speaker 3: I would have, and I did try to fight for

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Speaker 3: a bit, but my mental state at that stage wasn't

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Speaker 3: there so I did have the ability to fight for it.

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Speaker 3: I did try and ended up with a solicitors bill

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Speaker 3: out of the whole thing.

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Speaker 2: So wow, money win.

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Speaker 1: Yeah. Yeah.

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Speaker 3: And I remember it was about eight or nine months

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Speaker 3: after he died that the solicitor actually contacted me and

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Speaker 3: I'd moved away by then, ran away, which was the

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Speaker 3: best thing I ever done, by the way.

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Speaker 2: Yeah, good, good job, queen.

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Speaker 1: Yeah.

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Speaker 3: But he was like, you know, oh, because work as

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Speaker 3: comps come into it, because it was on the way

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Speaker 3: home from work, it's now worth a lot of money.

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Speaker 3: Where happy to fight for you? And I'm like, I

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Speaker 3: wanted the house. They're already in there, they would have

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Speaker 3: already ruined it. So the one thing I wanted I

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Speaker 3: don't want anymore.

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Speaker 2: Oh, and you do what that's so shitty. I'm so sorry.

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Speaker 2: There's nothing I can say that like changes that, but ah,

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Speaker 2: I just I really feel for you because that's so formative,

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Speaker 2: like being together with someone for seven years at twenty

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Speaker 2: one and you kind of like grow with that person

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Speaker 2: and like learn about yourself with that person and then

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Speaker 2: to have it all ripped away, like oh, and you

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Speaker 2: said that you were from rocky families and you clung

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Speaker 2: to each other Like, ah, that's it's so heartbreaking. But

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Speaker 2: nobody thinks when they're twenty one that their life is

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Speaker 2: as fragile as it is.

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Speaker 3: Yeah, and it really Again, you learn so much from that,

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Speaker 3: Like if I look back, everything does happen for a reason,

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Speaker 3: and I definitely wouldn't have moved away from my hometown

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Speaker 3: and lived the incredible life I have without that happening.

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Speaker 3: Major learning curve. You know most people learn it later

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Speaker 3: on in life when they get divorced.

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Speaker 2: Oh yeah, you got that really early. And I can

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Speaker 2: guarantee you right now, he's so proud of you. He's like, girl, like,

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Speaker 2: what do you mean You've done all of this? Like

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Speaker 2: he's so ridiculously proud, but at the same time, like, sorry,

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Speaker 2: let's go back a little bit before all of this happened.

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Speaker 2: You were twenty one who owned a house. Yeah, so

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Speaker 2: I was seventeen when we bought it. I was seventeen.

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Speaker 2: He was nineteen. Oh okay, older boy, I like this, Yeah,

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Speaker 2: by two years. Who sorry, when you're seventeen, that feels

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Speaker 2: like a lot, it does, yep.

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Speaker 3: And our house price back then was fifty two thousand dollars. Yeah,

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Speaker 3: and the first home buyers grant was seven thousand dollars.

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Speaker 3: So basically thirteen percent of it come from the government.

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Speaker 3: So okay, yeah, we got told, you know, put it

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Speaker 3: just in one name, because then later on you can

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Speaker 3: get the first home buyers in the other person's name.

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Speaker 3: That's the only reason it was in just his name.

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Speaker 2: Oh ah, Like great advice, I think, yeah.

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Speaker 3: And looking back, I would probably do the same thing again. Now.

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Speaker 3: You know, if they offered the thirteen percent of any home,

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Speaker 3: now you jump at it, you know, and put in

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Speaker 3: your one person's name.

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Speaker 2: Oh take my money, Like absolutely, I get it that

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Speaker 2: having that ripped away would have been heartbreaking. And then

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Speaker 2: you made the decision to quote run away. What's that

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Speaker 2: look like?

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Speaker 3: So I got to the stage where everybody knew me

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Speaker 3: and you were about us because it was a small

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Speaker 3: town that we were from, so you couldn't go anywhere

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Speaker 3: without anybody bringing it up. And I basically went, Okay,

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Speaker 3: I need out. So I got another job on the

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Speaker 3: other side of the country and ran away, and I

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Speaker 3: literally did. I just packed everything and I was like,

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Speaker 3: I'm out. If I'm honest, Even to this day, most

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Speaker 3: of my stuff is still in storage at my.

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Speaker 2: Mum and does and we god, yeap, yep, yeah, fair

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Speaker 2: and yeah.

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Speaker 3: I actually went away and started working on a fishing boat,

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Speaker 3: and then from there I kind of got the travel

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Speaker 3: bug and started moving around and started traveling Australia as

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Speaker 3: a tour guy, picking up work whatever it was, wherever

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Speaker 3: it was, and never chased money. Funnily enough, my mum

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Speaker 3: is a bit of a whole.

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Speaker 2: I mean she's still got all your stuff, yeah, twenty

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Speaker 2: years later.

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Speaker 3: So stuff really freaks me out. I remember when I

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Speaker 3: first moved into a house after being in a van,

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Speaker 3: and I bought a fridge and I'm like, oh my god,

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Speaker 3: I can't just leave anymore. Now I've got a full

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Speaker 3: bedroom house and it's full of stuff and it's just

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Speaker 3: me and I'm like, how did I do that.

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Speaker 2: Yeah, that's a lot more tied down. I'm not gonna lie,

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Speaker 2: but that's okay because like, as you know, you could

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Speaker 2: just leave whenever you want to leave. If you want

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Speaker 2: to be over and out, you can be. It just

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Speaker 2: depends on what you're willing to lose, I suppose. So

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Speaker 2: talk to me more about this because you clearly have

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Speaker 2: some and I won't get into money habits now, but

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Speaker 2: you've clearly done a lot in the last twenty years,

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Speaker 2: and leaving your hometown to go work on a fishing

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Speaker 2: boat that wasn't on my BINGO card, Like I couldn't

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Speaker 2: have guessed that that's what you would do. Was that

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Speaker 2: because you had I don't know, experience in that space,

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Speaker 2: interest in that space where you like, this is literally

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Speaker 2: so different to what I'm doing. That's why, like, talk

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Speaker 2: me through the thought pattern there, because like running away

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Speaker 2: makes sense, but on the flip side, away to a

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Speaker 2: fishing boat, Like where did that idea come from?

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Speaker 3: So I was a tour guide in my hometown and

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Speaker 3: the fishing boat was a hostess position, so I was

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Speaker 3: basically serving cocktails and stuff like that.

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Speaker 2: That's fun.

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Speaker 3: Yeah, So I was like, okay, let's do this, let's

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Speaker 3: just go. I'd never really been on a big boat before.

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Speaker 3: And I remember the first day making beds and I

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Speaker 3: was seasick as.

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Speaker 2: Hell and I was just like, oh my god, what

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Speaker 2: have I done?

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Speaker 3: And my room back then when I because it was

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Speaker 3: literally the other side of Australia nothing there was an

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Speaker 3: old shipping container that didn't have doors or windows or anything. Basically,

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Speaker 3: it was a big culture shock and it was like, really,

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Speaker 3: what have I done? But I stuck it out and

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Speaker 3: it got better and better from there.

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Speaker 2: Really yeah, wow, So tell me what happens, Like how

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Speaker 2: much do you get paid on fishing boat? Back then?

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Speaker 3: It wasn't very much. And I've never chased money. I've

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Speaker 3: always chased lifestyle, and I think that is what I

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Speaker 3: learned from that, is that money can be taken away.

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Speaker 3: So I've always made sure that I am protecting myself

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Speaker 3: and I've got like very low risk tolerance. So debt

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Speaker 3: is bad to me.

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Speaker 2: Yep, that's it's okay, though, the most important thing is

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Speaker 2: that you know that that's right.

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Speaker 3: I do know that, So I've always stocked filed money.

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Speaker 3: It's just in case, because you never know what's going

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Speaker 3: to happen, and I never want to be homeless again.

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Speaker 3: But yeah, getting paid on the fishing boat. Back then,

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Speaker 3: it would have only been a few hundred a week.

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Speaker 3: My first job when I first left school, because I

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Speaker 3: left school when I was fifteen, and my first job,

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Speaker 3: I remember, my first paycheck was two hundred and thirty

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Speaker 3: three dollars for the week and I was over the moon.

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Speaker 2: That's a lot.

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Speaker 3: Yeah, it was huge, and in my head even today,

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Speaker 3: I still see myself as only being on thirty grand

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Speaker 3: a year. So everybody's like, how do you save so much?

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Speaker 3: I'm like, well, I just don't need a lot.

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Speaker 2: You sound like Brook from my team, who recently did

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Speaker 2: an investing money diary with me, and she just like

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Speaker 2: somehow has managed to outsmart life style creep like she

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Speaker 2: just lives on the absolute bare minimum and saves the

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Speaker 2: rest and invests the rest, and like, hats off to you.

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Speaker 2: I wish I could be that cool. Tell me a

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Speaker 2: little bit more. I want to get into it. So

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Speaker 2: you've gone from I guess not chasing money. We are

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Speaker 2: on a fishing boat. You've kind of gone rolled to roll.

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Speaker 2: But girl, you're on two hundred and three thousand dollars

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Speaker 2: and you're working in mining? What do you do in mining?

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Speaker 2: And like, how is that salary package made up?

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Speaker 3: Okay, so the two hundred and three is my taxable income,

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Speaker 3: so it's a mix of a lot of stuff. My

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Speaker 3: role in mining is I am an operator, so I

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Speaker 3: drive the dozers, greaters, water cart stuff like that.

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Speaker 2: Oh that's kind of fun.

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Speaker 3: Yeah, it can be. It can also be really boring.

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Speaker 3: Don't worry.

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Speaker 2: Okay, but right, that sounds very fun. Like that sounds

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Speaker 2: like a cool girl job.

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Speaker 3: It is a cool girl job. When you say to

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Speaker 3: people you drive the big dosers, they're like wow, and

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Speaker 3: you're like, until you're in them.

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Speaker 2: Yeah, I'm not going to lie. I would cry. I

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Speaker 2: would cry. That sounds really scary.

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Speaker 3: And they're not that bad. Honestly, everybody says you're going

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Speaker 3: to not be able to have kids and all of that.

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Speaker 3: They're actually smoother than a lot of other machines. So

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Speaker 3: don't believe everything. You're here and yeah, so my income

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Speaker 3: from that is generally about one hundred and sixty K

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Speaker 3: a year. I do do a lot of overtime, so

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Speaker 3: that pushes it up into the one eighties.

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Speaker 2: Yeah, and then I.

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Speaker 3: Bought a property last year, a rental property, which brings

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Speaker 3: in quite a bit of extra for me.

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Speaker 2: Oh, very nice. So tell me about the decision to

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Speaker 2: buy a rental property as somebody who's relatively low tolerance

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Speaker 2: and doesn't like debt.

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Speaker 3: So I have been thinking about property for a long time,

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Speaker 3: a very long time, and I bought a property in

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Speaker 3: a mining town that I could buy out right.

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Speaker 2: Yeah, so that was okay? Yeah, I see. I was like,

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Speaker 2: how like, I'm not saying it's wrong, but you said, look,

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Speaker 2: I'm really really low tolerance. I was like, and she

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Speaker 2: doesn't like being tied down. So the idea of a

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Speaker 2: mortgage just wasn't sticking for me. You bought a house,

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Speaker 2: all right? Sorry, I meant to get into this later,

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Speaker 2: but how much does a house outright cost? When where?

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Speaker 3: How So the house was four hundred and thirty five thousand.

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Speaker 2: And you just had that in your bank account.

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Speaker 3: I actually, on the time a settlement I did. I

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Speaker 3: didn't think I would.

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Speaker 2: Who are you?

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Speaker 3: So I did take an offset loan out and I

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Speaker 3: still have it at the moment, but i'd pay no interest.

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Speaker 3: So over the course of the loan I've paid I

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Speaker 3: think three hundred dollars in interest the whole time. And

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Speaker 3: that was while I got it set up in the

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Speaker 3: first month.

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Speaker 2: Unrelatable. I love they for us though, because we get

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Speaker 2: to learn. Is this because you kind of essentially delude

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Speaker 2: yourself into earning thirty thousand dollars a year? So is

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Speaker 2: that where this lifestyle comes into it? Talk to me about,

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Speaker 2: like what does life style look like? Because I think

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Speaker 2: that when you say to somebody, I own two hundred

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Speaker 2: grand plus, right, but then I live like I'm on

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Speaker 2: thirty thousand dollars, A lot of people would say, girl,

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Speaker 2: you're missing out. So tell me because you seem very happy.

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Speaker 2: You have an energy about you that I love, and

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Speaker 2: I just don't think that you're missing out on all

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Speaker 2: that much.

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Speaker 3: I'm not missing out on anything. So I live in

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Speaker 3: a small town, but I was brought up in a

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Speaker 3: small town, so a lot of people hate this town

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Speaker 3: because it's so small. Whereas I'm like, you know what,

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Speaker 3: We've got a supermarket, we've got a post office, we've

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Speaker 3: got a cafe. What more could you want?

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Speaker 2: Like, I mean, you're right, you're right.

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Speaker 3: I do drive an hour to get groceries most weeks.

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Speaker 3: So other than that, that's not too bad.

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Speaker 2: So fuel price is high, but also life satisfaction high.

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Speaker 3: Yeah. Yeah, And I work seven days on seven days off,

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Speaker 3: so you can always leave town on your seven days off.

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Speaker 3: So basically that pay check coming in is for six

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Speaker 3: months of the year. Where else can you get that?

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Speaker 2: Okay? Excuse me? So Tommy, what are you doing with

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Speaker 2: your seven days off?

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Speaker 3: Everybody asks me this, and I don't actually know. I'm

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Speaker 3: such a homebody. Like this week, I've got seven days

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Speaker 3: off and everybody's like, well, where are you going? Because

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Speaker 3: I took an extra two days off and I actually

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Speaker 3: went and climbed a mountain, you know, like that's me done.

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Speaker 3: I went for a hike. So the next seven days

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Speaker 3: I will probably lay in the sun.

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Speaker 2: I kind of love this for you. Can I be

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Speaker 2: really pervy about your personal life? Do you have a partner?

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Speaker 3: Like?

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Speaker 2: What does life like lifestyle at home look like?

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Speaker 3: I do not have a partner. I do have a

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Speaker 3: house which I live in, which is provided by the

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Speaker 3: mining company I work for. So I around twenty dollars

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Speaker 3: a week for a four bedroom house.

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Speaker 2: Oh that's way too much.

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Speaker 3: Yeah, I know, it's ridiculous, right, are you okay?

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Speaker 2: Will you recover?

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Speaker 3: They keep saying to me that I'm going to be

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Speaker 3: the one who knocks the house down because the mine's

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Speaker 3: only got five years left.

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Speaker 2: Oh that's kind of scary.

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Speaker 3: Yeah, and I'm like, not a chance. It's going on

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Speaker 3: the back of the truck. It's coming with me.

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Speaker 2: So you live in a very regional town. You're like

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Speaker 2: paying like twenty dollars. What was that a week? Yeah,

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Speaker 2: a week for a whole house. What are you doing

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Speaker 2: with the other bedrooms? I need to know because you

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Speaker 2: don't come across as a order. I feel like you

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Speaker 2: are a bit of a minimalist, aren't you.

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Speaker 3: I am, But I do have everything full low. It's

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Speaker 3: you know, it's got the gym equipment that you don't use.

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Speaker 3: It's got the normal stuff that everybody else has.

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Speaker 2: Yeah, okay, and I come.

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Speaker 3: Home for my puppy dog every single night. But it

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Speaker 3: is just me.

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Speaker 2: So you've bought a house outright for four hundred and

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Speaker 2: thirty five thousand dollars. You said you had an offset loan.

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Speaker 2: Does that mean that you have other properties or did

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Speaker 2: you just organize a loan for that property because you

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Speaker 2: just didn't think that you would get the finance and

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Speaker 2: the cash in time for that settlement.

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Speaker 3: Well, I've done the offset loan just as basically a

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Speaker 3: safety net. Yeah. I didn't want to have zero in

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Speaker 3: the bank, and that would have taken me back to zero,

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Speaker 3: So it was kind of a safety net. But I

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Speaker 3: managed to make it work, so it was good.

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Speaker 2: I love that. Talk to me, what are your next

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Speaker 2: big money goals? What are you currently working towards? Because

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Speaker 2: you have a net worth of seven hundred and fifty

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Speaker 2: thousand dollars, just solow what's next?

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Speaker 3: Well, this is where my problem is. I don't actually

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Speaker 3: know what I want to do next. So I only

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Speaker 3: got serious about finance about three years ago and started

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Speaker 3: looking going, Okay, what am I doing? Where am I

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Speaker 3: going with this?

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Speaker 2: Welcome to the dark side.

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Speaker 3: Yeah, And financially, I worked out that if I keep

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Speaker 3: going on this projection, I can retire at fifty two.

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Speaker 3: So that's kind of the aim is to be able

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Speaker 3: to retire in another ten years or eleven years. I

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Speaker 3: probably won't, but if I can get there, then that's great.

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Speaker 2: We want the option. And then if you want to

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Speaker 2: keep working, I mean, right now, you're seven days on,

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Speaker 2: seven days off, like that sounds like a pretty good

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Speaker 2: Like if you're still fitting healthy at fifty two, Sorry,

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Speaker 2: you might really want to do that.

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Speaker 3: That's right, and a lot of people do. We've got

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Speaker 3: guys who work with me who are seventy four seventy

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Speaker 3: five because I just don't want to give it up.

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Speaker 3: They love it.

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Speaker 2: Yeah, I feel like that's fair, that's exciting. And so

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Speaker 2: you're just not sure what the next financial goal is

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Speaker 2: or are you just not sure of where to start

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Speaker 2: investing to like make that fifty two retirement age more

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Speaker 2: of a reality. Like is that a good summary? I

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Speaker 2: don't know.

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Speaker 3: I don't actually know what to do, is my problem.

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Speaker 3: So I do invest. So I've got about probably forty

383
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Speaker 3: grand in investment. It's about ten grand in crypto, and

384
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Speaker 3: I'm already since I bought the house in November last year,

385
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Speaker 3: I've already saved another seventy k in cash.

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Speaker 2: Stop it. And you only work basically six months of

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Speaker 2: the year. Oh my goodness, this woman told me, I'm

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Speaker 2: really nervous come on the show, what like, because you'll

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Speaker 2: run rings around all of us. Is that why? Oh

390
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Speaker 2: my goodness, I'm so excited for you. That sounds really

391
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Speaker 2: really cool.

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Speaker 3: So yeah, if you can tell me what to do next,

393
00:16:26,160 --> 00:16:27,840
Speaker 3: so that would be great, you know, even better if

394
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Speaker 3: you can find me the really rich husband or something like.

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Speaker 2: That, that we're okay to that. Okay, I like, she's

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Speaker 2: on the money is now she's on the honey and

397
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Speaker 2: we go in dating.

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Speaker 3: I like it.

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Speaker 2: I like it. Let's got a really quick break because

400
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Speaker 2: I have a lot of questions and I want to

401
00:16:40,840 --> 00:16:43,080
Speaker 2: dive a little bit further into not only your dating life,

402
00:16:43,120 --> 00:16:49,760
Speaker 2: but also your investments. So guys, don't go anywhere money

403
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Speaker 2: daris do. We are back and look, I haven't thought

404
00:16:53,200 --> 00:16:55,840
Speaker 2: of any potential dates just yet, but like leave that

405
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Speaker 2: to me. In fact, this whole money dary could be

406
00:16:58,160 --> 00:17:01,480
Speaker 2: a really great dating segment because we're pitching you so well.

407
00:17:01,720 --> 00:17:05,440
Speaker 2: Like sorry, I if I was forty forty one and

408
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Speaker 2: I was looking for a partner and I was male,

409
00:17:07,480 --> 00:17:09,640
Speaker 2: you tell me sorry. She's got a network of seven

410
00:17:09,760 --> 00:17:12,480
Speaker 2: hundred and fifty k. She seems really grounded, loves to

411
00:17:12,560 --> 00:17:16,560
Speaker 2: go hiking, climb mountains. She's got an investment. Probably she

412
00:17:16,680 --> 00:17:20,720
Speaker 2: bought that in cash. Like sorry, your dream sold. But

413
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Speaker 2: tell me a little bit more about these investments. You

414
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Speaker 2: touched on them before, you said, in the last like

415
00:17:26,160 --> 00:17:29,840
Speaker 2: five years, you've gotten serious about your financial life. You've

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00:17:29,880 --> 00:17:34,520
Speaker 2: got forty thousand dollars invested invested in what So I have.

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Speaker 3: Forty thousand in ETFs and then yeah, I do have

418
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Speaker 3: about ten thousand I guess in crypto, and yeah, I've

419
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Speaker 3: saved the seventy k cash. So yeah, it's what to

420
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Speaker 3: do with it at the moment, it's whether to put

421
00:17:47,840 --> 00:17:50,679
Speaker 3: that seventy k into another property. That The issue I'm

422
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Speaker 3: hitting at the moment is that I done my tax

423
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Speaker 3: the other day and I got sixty K that i'd

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Speaker 3: paid in text last year. So now it's about tax

425
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Speaker 3: minimization and learning about that because I never thought I

426
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Speaker 3: would have to worry about that.

427
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Speaker 2: Yeah, tell me about your superannuation because that's a very

428
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Speaker 2: tax effective vehicle. Are you prioritizing that?

429
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Speaker 3: So superannuation? Since I've done my tax return so only

430
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Speaker 3: a few weeks ago, I have looked at that and

431
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Speaker 3: I have always said I don't believe in super because

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Speaker 3: when my partner did die, I was his benificiary on

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Speaker 3: his super and you.

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Speaker 2: Didn't get it, yeah, and I didn't get it. No,

435
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Speaker 2: because you can't nominate your partner because they're not financially

436
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Speaker 2: dependent on you. Just for those of you playing along

437
00:18:27,880 --> 00:18:30,040
Speaker 2: at home and it can ultimately go to you, but

438
00:18:30,119 --> 00:18:32,399
Speaker 2: it would have been rejected at a base level, and

439
00:18:32,480 --> 00:18:35,080
Speaker 2: then his family sounds like they're probably not the greatest.

440
00:18:35,359 --> 00:18:36,880
Speaker 2: They would have been like, we don't care about money,

441
00:18:36,920 --> 00:18:38,560
Speaker 2: dist we want his cash, and it would have just

442
00:18:38,640 --> 00:18:40,320
Speaker 2: gone straight to them instead.

443
00:18:40,680 --> 00:18:42,800
Speaker 3: Yeah, And this is my issue with Super is that

444
00:18:43,080 --> 00:18:45,879
Speaker 3: if I do pass away, I have no dependence, so

445
00:18:45,960 --> 00:18:49,199
Speaker 3: then it is taxed extremely highly to whoever I am

446
00:18:49,280 --> 00:18:51,560
Speaker 3: going to give it to. So that's my downfall I

447
00:18:51,720 --> 00:18:54,000
Speaker 3: have just since I started doing my tax last year,

448
00:18:54,400 --> 00:18:56,600
Speaker 3: started paying into my Super. So I now paid five

449
00:18:56,680 --> 00:18:58,840
Speaker 3: hundred and fifty dollars a week into Super every week

450
00:18:59,040 --> 00:19:00,919
Speaker 3: just to bring my tax bloing come down a little bit.

451
00:19:01,080 --> 00:19:03,600
Speaker 3: But my Super currently sits just over two hundred k.

452
00:19:03,840 --> 00:19:06,800
Speaker 2: Okay, Queen. I was like, oh, if you're not prioritizing it,

453
00:19:07,040 --> 00:19:09,639
Speaker 2: like maybe not too much, but two hundred k is

454
00:19:09,680 --> 00:19:12,000
Speaker 2: looking good. The one thing I would say here, and

455
00:19:12,080 --> 00:19:14,000
Speaker 2: this is not advice, it's just things you could talk

456
00:19:14,080 --> 00:19:17,359
Speaker 2: to your accountant about hypothetically, like if hypothetically you wanted

457
00:19:17,359 --> 00:19:20,560
Speaker 2: to have that conversation, because I'd never give advice. Is

458
00:19:20,680 --> 00:19:24,640
Speaker 2: talking to your accountant about establishing a trust if there's

459
00:19:24,680 --> 00:19:27,560
Speaker 2: some individual that you want to benefit from your superannuation

460
00:19:27,800 --> 00:19:32,679
Speaker 2: and then nominating your super beneficiary to be that trust

461
00:19:33,119 --> 00:19:36,760
Speaker 2: because then they can benefit hypothetically from a distribution as

462
00:19:36,800 --> 00:19:39,720
Speaker 2: opposed to an inheritance that's not from a family member,

463
00:19:40,400 --> 00:19:43,280
Speaker 2: which is something you could potentially talk to someone about

464
00:19:43,840 --> 00:19:44,600
Speaker 2: that's really good.

465
00:19:44,640 --> 00:19:46,439
Speaker 3: But I don't have that person. Hence why you need

466
00:19:46,480 --> 00:19:47,160
Speaker 3: to find me the man.

467
00:19:47,640 --> 00:19:49,800
Speaker 2: I'm working on it. I'm working on it. But even

468
00:19:49,840 --> 00:19:52,320
Speaker 2: if it goes into a trust, like I used to

469
00:19:52,359 --> 00:19:54,360
Speaker 2: have a lot of clients in this situation where maybe

470
00:19:54,560 --> 00:19:56,480
Speaker 2: you know, they had had a partner who'd passed away

471
00:19:56,520 --> 00:19:58,000
Speaker 2: and it was just kind of them and maybe they

472
00:19:58,040 --> 00:20:01,000
Speaker 2: didn't want to couple up again, you can actually still

473
00:20:01,080 --> 00:20:03,680
Speaker 2: have so much control and power over that because you

474
00:20:03,760 --> 00:20:06,680
Speaker 2: could put it towards a cause that's really important to you,

475
00:20:06,840 --> 00:20:09,240
Speaker 2: or put it towards something. But even in that structure,

476
00:20:09,280 --> 00:20:12,040
Speaker 2: it's most tax beneficial, like for that charity or whatever

477
00:20:12,160 --> 00:20:14,119
Speaker 2: it is, or who knows what you want to do

478
00:20:14,200 --> 00:20:15,840
Speaker 2: with it. You could literally donate it all to the

479
00:20:15,920 --> 00:20:18,920
Speaker 2: Lost Dogs Home, Like that's fine by me. But like

480
00:20:19,280 --> 00:20:22,080
Speaker 2: just having choice and feeling like your money isn't quote wasted,

481
00:20:22,160 --> 00:20:24,720
Speaker 2: I think is really important because you've worked hard for this,

482
00:20:25,480 --> 00:20:28,320
Speaker 2: like as much as you have said, No, I don't

483
00:20:28,320 --> 00:20:30,520
Speaker 2: feel like I sacrificed a lot, Like sorry to save

484
00:20:30,720 --> 00:20:33,280
Speaker 2: seventy grand this year. You did have to sacrifice a

485
00:20:33,280 --> 00:20:36,359
Speaker 2: fair bit, babe, Like there's things that you're definitely skipping

486
00:20:36,400 --> 00:20:38,520
Speaker 2: out on to make sure that that savings account is

487
00:20:38,560 --> 00:20:40,959
Speaker 2: still looking very healthy, which is not a bad thing.

488
00:20:41,040 --> 00:20:43,960
Speaker 2: We just need the right structure to help us. Tell

489
00:20:44,040 --> 00:20:46,760
Speaker 2: me about debt, I just feel like you don't have

490
00:20:46,880 --> 00:20:49,480
Speaker 2: any at all. It's just your offset, which is like

491
00:20:49,720 --> 00:20:51,960
Speaker 2: one hundred percent of the property purchases in there.

492
00:20:52,320 --> 00:20:54,240
Speaker 3: Yeah it is. It's actually over one hundred percent. So

493
00:20:54,440 --> 00:20:55,280
Speaker 3: no debt whatsoever.

494
00:20:55,680 --> 00:20:58,520
Speaker 2: Oh my god. All right, so no debt and you

495
00:20:58,720 --> 00:21:01,480
Speaker 2: just feel like that's probably not it because you said, IRV,

496
00:21:01,720 --> 00:21:02,920
Speaker 2: I'm pretty risk averse.

497
00:21:03,800 --> 00:21:06,600
Speaker 3: That's true. However, my accountant is advising me at the moment,

498
00:21:06,680 --> 00:21:09,160
Speaker 3: for tax reasons to buy a second investment property, because

499
00:21:09,160 --> 00:21:10,800
Speaker 3: when she told me to buy an investment property, she

500
00:21:10,920 --> 00:21:13,800
Speaker 3: meant actually take out interest against that property to be

501
00:21:13,880 --> 00:21:14,800
Speaker 3: able to climb it against my.

502
00:21:14,840 --> 00:21:16,920
Speaker 2: Tax Yeah, like I mean you did it, but like

503
00:21:17,040 --> 00:21:20,400
Speaker 2: she probably didn't give clear enough instructions. Yeah, I want

504
00:21:20,440 --> 00:21:22,119
Speaker 2: to play a game of pick on you just a

505
00:21:22,160 --> 00:21:24,200
Speaker 2: little bit. And I mean it in the nicest way,

506
00:21:24,240 --> 00:21:27,440
Speaker 2: but as literally the she and she's on the money

507
00:21:27,800 --> 00:21:31,320
Speaker 2: you told me before, Victoria, I really like risk averse? Go,

508
00:21:31,480 --> 00:21:33,720
Speaker 2: why do you enn crypto? Where did that come from? Like?

509
00:21:33,880 --> 00:21:36,600
Speaker 2: How does somebody who's so risk averse, doesn't want to

510
00:21:36,640 --> 00:21:39,120
Speaker 2: carry any debt, is really worried, hasn't really like gotten

511
00:21:39,160 --> 00:21:42,119
Speaker 2: into the share market then has like literally, what's that

512
00:21:42,320 --> 00:21:45,720
Speaker 2: twenty percent of your investing portfolio outside of superannuation, like

513
00:21:46,000 --> 00:21:49,280
Speaker 2: between crypto and your ETFs is crypto?

514
00:21:49,680 --> 00:21:53,680
Speaker 3: Like, yeah, how do we do that? We listen to

515
00:21:53,720 --> 00:21:56,080
Speaker 3: the people at work sometimes and you know, they always

516
00:21:56,119 --> 00:21:58,280
Speaker 3: promise you all the world. I know a lot of

517
00:21:58,359 --> 00:22:00,560
Speaker 3: boys out here who are really really to it, and

518
00:22:00,680 --> 00:22:03,239
Speaker 3: of course ten k's about my limit, but a lot

519
00:22:03,280 --> 00:22:05,040
Speaker 3: of them are a lot further in than that.

520
00:22:05,400 --> 00:22:07,600
Speaker 2: Of course they are, and like, talk to me, how's

521
00:22:07,600 --> 00:22:08,679
Speaker 2: your crypto performing?

522
00:22:09,040 --> 00:22:12,680
Speaker 3: It's basically sitting even slightly up pretty much sitting even.

523
00:22:12,720 --> 00:22:13,480
Speaker 3: So I'm happy with that.

524
00:22:13,600 --> 00:22:15,840
Speaker 2: Yeah, we're not mad about that. I'm just surprised that,

525
00:22:15,920 --> 00:22:18,480
Speaker 2: as somebody who's so risk averse, youate, Yeah, it was

526
00:22:18,520 --> 00:22:22,440
Speaker 2: a crypto. I was like, what like that, just like

527
00:22:22,720 --> 00:22:24,960
Speaker 2: not in a judgmental way, just more in a like

528
00:22:25,440 --> 00:22:28,000
Speaker 2: if you know your risk tolerance, and probably over the

529
00:22:28,080 --> 00:22:30,359
Speaker 2: last few five years you've learned a bit more about

530
00:22:30,440 --> 00:22:32,680
Speaker 2: like what that looks like. You're probably like, that's rogue,

531
00:22:32,760 --> 00:22:35,280
Speaker 2: but that's okay, we can be rogue, Like we can

532
00:22:35,359 --> 00:22:36,840
Speaker 2: be rogue. I just want to know about it.

533
00:22:37,080 --> 00:22:39,080
Speaker 3: You know, well, I have more in shares. It's just

534
00:22:39,200 --> 00:22:40,960
Speaker 3: it was at the time, you know, people were like,

535
00:22:41,080 --> 00:22:42,080
Speaker 3: is it gonna go ahead? Isn't it?

536
00:22:42,240 --> 00:22:42,280
Speaker 2: No?

537
00:22:42,480 --> 00:22:44,480
Speaker 3: It was you know, do you get in now and

538
00:22:44,600 --> 00:22:46,520
Speaker 3: hope for the best or do you wait ten years

539
00:22:46,560 --> 00:22:48,680
Speaker 3: and go I should have So it was a yeah,

540
00:22:48,800 --> 00:22:50,200
Speaker 3: bit of a let's hope it goes ahead.

541
00:22:50,320 --> 00:22:54,119
Speaker 2: Yeah, no, totally get it. So talk to me about

542
00:22:54,200 --> 00:22:57,120
Speaker 2: best and worst money habits, because like, you don't get

543
00:22:57,200 --> 00:22:59,560
Speaker 2: into this position without good money habits. And I know

544
00:22:59,640 --> 00:23:02,560
Speaker 2: you said, look, b I never chased money, but like,

545
00:23:02,800 --> 00:23:06,520
Speaker 2: clearly you're attracting it. How so my.

546
00:23:06,680 --> 00:23:09,080
Speaker 3: Best money I have it is clearly my savings. And

547
00:23:09,200 --> 00:23:11,920
Speaker 3: that is just because I don't need a lot to live.

548
00:23:12,080 --> 00:23:14,760
Speaker 3: I really don't like my food build generally is about

549
00:23:14,800 --> 00:23:16,440
Speaker 3: one hundred and fifty dollars a fortnight.

550
00:23:16,720 --> 00:23:19,040
Speaker 2: A fortnight? Yeah, yeah, what are you a budget?

551
00:23:19,119 --> 00:23:20,119
Speaker 3: Quit? What are you eating?

552
00:23:20,359 --> 00:23:20,880
Speaker 2: Just rice?

553
00:23:22,160 --> 00:23:24,119
Speaker 3: I fairly ever rice. Actually I have a lot of

554
00:23:24,200 --> 00:23:26,640
Speaker 3: salads and stuff because we drive so far to the supermarket.

555
00:23:26,680 --> 00:23:28,280
Speaker 3: I just do one big shop and that does me

556
00:23:28,480 --> 00:23:30,040
Speaker 3: for the two weeks, the week on and the week off.

557
00:23:30,320 --> 00:23:32,879
Speaker 3: But I don't budget. Everybody finds it amazing that I

558
00:23:32,920 --> 00:23:35,360
Speaker 3: don't budget. But for the last couple of days, I've

559
00:23:35,359 --> 00:23:37,080
Speaker 3: been away with friends, so you know, I probably spend

560
00:23:37,119 --> 00:23:38,680
Speaker 3: two thousand dollars. I don't look at that and go

561
00:23:38,800 --> 00:23:40,720
Speaker 3: that's bad because I know I won't do it again

562
00:23:40,760 --> 00:23:41,600
Speaker 3: for another six months.

563
00:23:41,720 --> 00:23:43,879
Speaker 2: Yeah, And that's like part of the journey, right, Like,

564
00:23:44,000 --> 00:23:45,719
Speaker 2: and the journey you need to kind of zoom out

565
00:23:45,760 --> 00:23:47,600
Speaker 2: and be like, well, actually, that's what I'm living for,

566
00:23:47,880 --> 00:23:49,560
Speaker 2: like so that I can have a really good time

567
00:23:49,640 --> 00:23:51,639
Speaker 2: with friends and I can't, you know, splurge here and

568
00:23:51,680 --> 00:23:53,600
Speaker 2: there and not worry about the pub meals that we have,

569
00:23:54,119 --> 00:23:57,880
Speaker 2: but more day to day those expenses are low. Why

570
00:23:57,920 --> 00:23:59,840
Speaker 2: do you think you've never budgeted? Is it just because

571
00:24:00,040 --> 00:24:02,160
Speaker 2: inherently I would say that you're pretty good at money,

572
00:24:02,200 --> 00:24:03,840
Speaker 2: and you're like, well, I actually don't need a budget

573
00:24:03,880 --> 00:24:06,240
Speaker 2: because I'm pretty good at, you know, keeping costs low

574
00:24:06,320 --> 00:24:08,119
Speaker 2: in general. Or is this just something you'd be like,

575
00:24:08,440 --> 00:24:10,760
Speaker 2: ov I avoid it? Like what does that look like?

576
00:24:11,400 --> 00:24:15,000
Speaker 3: I think? See? Growing up, my mum was very tight

577
00:24:15,080 --> 00:24:17,320
Speaker 3: with money, to the point where even if we got

578
00:24:17,359 --> 00:24:18,960
Speaker 3: school pants, she would write it down or we would

579
00:24:19,000 --> 00:24:20,320
Speaker 3: have to pay it back for the school pants and

580
00:24:20,359 --> 00:24:20,879
Speaker 3: stuff like that.

581
00:24:21,200 --> 00:24:23,160
Speaker 2: Okay mum, Yeah exactly.

582
00:24:23,640 --> 00:24:24,359
Speaker 3: She's still like that.

583
00:24:24,640 --> 00:24:29,080
Speaker 2: Okay, perfect. And you say you moved away. That's so strange.

584
00:24:29,720 --> 00:24:33,320
Speaker 3: Yeah, I know, very strange. And I've just always been,

585
00:24:33,400 --> 00:24:35,200
Speaker 3: you know, like, if you want something, you should have

586
00:24:35,280 --> 00:24:37,399
Speaker 3: it in the same way as I don't want to

587
00:24:37,440 --> 00:24:39,320
Speaker 3: be like her, and that sounds horrible, but she is

588
00:24:39,359 --> 00:24:40,920
Speaker 3: a hoarder and I go to the house and there's

589
00:24:40,920 --> 00:24:44,160
Speaker 3: stuff everywhere, So I'm not a stuff person. And because

590
00:24:44,200 --> 00:24:46,239
Speaker 3: I did live in my van for a long time

591
00:24:46,280 --> 00:24:49,119
Speaker 3: when I traveled Australia, I always had this thing, if

592
00:24:49,160 --> 00:24:50,800
Speaker 3: you buy something, you've got to get rid of something

593
00:24:50,840 --> 00:24:53,399
Speaker 3: because you don't have the space. So even now when

594
00:24:53,440 --> 00:24:55,280
Speaker 3: I buy stuff for the house, it's kind of a

595
00:24:55,920 --> 00:24:58,480
Speaker 3: but do you need it? Probably not, because then it's

596
00:24:58,520 --> 00:25:00,480
Speaker 3: hard to get rid of it. If anybody who's moved house.

597
00:25:00,520 --> 00:25:01,879
Speaker 3: You know, when you go to move and you're like,

598
00:25:02,600 --> 00:25:03,680
Speaker 3: now I've got to get rid of it. And I

599
00:25:03,840 --> 00:25:04,760
Speaker 3: loved it when I wanted it.

600
00:25:05,040 --> 00:25:08,240
Speaker 2: Don't so talk to me more about I guess worse

601
00:25:08,560 --> 00:25:11,840
Speaker 2: money habits. Do you even have bad money habits?

602
00:25:12,480 --> 00:25:12,720
Speaker 1: Yeah?

603
00:25:12,960 --> 00:25:16,480
Speaker 3: So my worst money habit is definitely my low rist

604
00:25:16,560 --> 00:25:20,440
Speaker 3: tolerance for debt. So in Covid, I grew up with

605
00:25:20,840 --> 00:25:23,440
Speaker 3: my great uncle around. He went through the depression, so

606
00:25:23,960 --> 00:25:25,879
Speaker 3: their money got taken from them in the depression. So

607
00:25:26,040 --> 00:25:28,040
Speaker 3: it was always you know, for him, his pension. Every

608
00:25:28,080 --> 00:25:29,440
Speaker 3: week we would go down and draw it out of

609
00:25:29,480 --> 00:25:32,600
Speaker 3: the bank. So he built into me, if anything goes bad,

610
00:25:32,800 --> 00:25:34,359
Speaker 3: take your money out of the bank. Do not trust

611
00:25:34,400 --> 00:25:34,720
Speaker 3: the bank.

612
00:25:35,080 --> 00:25:37,040
Speaker 2: So you've inherited his money. Trauma.

613
00:25:37,280 --> 00:25:40,920
Speaker 3: Yeah, so come Covid. I withdrew a couple of hundred

614
00:25:40,960 --> 00:25:42,480
Speaker 3: grand and buried it in the backyard for a couple

615
00:25:42,520 --> 00:25:42,800
Speaker 3: of years.

616
00:25:42,880 --> 00:25:45,600
Speaker 2: I actually love you. You're so funny. This is so good.

617
00:25:46,200 --> 00:25:48,520
Speaker 2: So you just had like a couple of one hundred grand. Sorry,

618
00:25:49,160 --> 00:25:51,320
Speaker 2: you took it out in cash and then you literally

619
00:25:51,440 --> 00:25:54,359
Speaker 2: buried it in your garden. You are killing me. I

620
00:25:55,720 --> 00:25:57,360
Speaker 2: just want to be friends with you. In real life

621
00:25:57,400 --> 00:26:00,359
Speaker 2: because you like, I'm sorry, just the way you articulate yourself,

622
00:26:00,400 --> 00:26:03,000
Speaker 2: you are so smart. I can tell you're just so smart.

623
00:26:03,040 --> 00:26:04,760
Speaker 2: And then it's like, yeah, buried all my money in

624
00:26:04,800 --> 00:26:07,880
Speaker 2: the garden. What are you doing? You're only forty one?

625
00:26:08,119 --> 00:26:12,200
Speaker 2: Like what are you eighty six? I love this?

626
00:26:12,320 --> 00:26:14,159
Speaker 3: But did you know what did that make you feel secure?

627
00:26:14,359 --> 00:26:16,879
Speaker 3: It actually made me feel more secure there you go.

628
00:26:17,400 --> 00:26:19,280
Speaker 3: I know, I thought I would feel worse about it,

629
00:26:19,359 --> 00:26:21,280
Speaker 3: but I actually felt more secure. And I went to

630
00:26:21,400 --> 00:26:24,000
Speaker 3: that because I like detecting for gold and stuff on

631
00:26:24,080 --> 00:26:25,720
Speaker 3: my days off. Not that I ever find anything, It's

632
00:26:25,760 --> 00:26:26,800
Speaker 3: more about the history for me.

633
00:26:26,920 --> 00:26:29,040
Speaker 2: And also like getting outside perf.

634
00:26:29,359 --> 00:26:32,240
Speaker 3: Yeah, so I went out and bought plastic containers so

635
00:26:32,320 --> 00:26:33,919
Speaker 3: that metal detectors wouldn't pick it up.

636
00:26:34,000 --> 00:26:37,000
Speaker 2: I'm done, I am obsessed with you. So tell me sorry,

637
00:26:37,640 --> 00:26:40,480
Speaker 2: did you like buy chance? Just video you digging this

638
00:26:40,720 --> 00:26:43,720
Speaker 2: up at some point, like and also if you bought

639
00:26:43,760 --> 00:26:45,960
Speaker 2: plastic condates, so just confirming this is no longer in

640
00:26:46,040 --> 00:26:46,480
Speaker 2: your garden.

641
00:26:46,760 --> 00:26:48,280
Speaker 3: This is no longer in my garden. It's now in

642
00:26:48,320 --> 00:26:48,960
Speaker 3: my house. Okay.

643
00:26:49,040 --> 00:26:51,040
Speaker 2: So you bought a house with it, okay, house, So

644
00:26:51,560 --> 00:26:54,480
Speaker 2: you put it in plastic containers. How deep are we

645
00:26:54,560 --> 00:26:55,040
Speaker 2: burying this?

646
00:26:55,440 --> 00:26:55,480
Speaker 3: Like?

647
00:26:55,600 --> 00:26:58,000
Speaker 2: How do we Is it shallow? Is it like marked

648
00:26:58,040 --> 00:26:59,960
Speaker 2: with a cross? Like did you buy a chair?

649
00:27:00,520 --> 00:27:02,600
Speaker 3: I don't know. Well, you can't do right. I did

650
00:27:02,680 --> 00:27:05,399
Speaker 3: actually put a mark on where roughly I buried it,

651
00:27:05,440 --> 00:27:06,720
Speaker 3: and then when I went to dig it up, I

652
00:27:06,760 --> 00:27:08,040
Speaker 3: couldn't find it straight away.

653
00:27:08,320 --> 00:27:09,560
Speaker 2: I would have died.

654
00:27:12,680 --> 00:27:14,439
Speaker 3: So the whole got bigger and beg. It wasn't very

655
00:27:14,480 --> 00:27:16,760
Speaker 3: deep though. It was kind of my thought pattern was

656
00:27:16,880 --> 00:27:18,639
Speaker 3: it needs to be deep enough so that if everything

657
00:27:18,680 --> 00:27:20,440
Speaker 3: burns down around it, it's not gonna melt.

658
00:27:20,920 --> 00:27:23,119
Speaker 2: Okay, yep, she's logical. I love this.

659
00:27:23,840 --> 00:27:26,560
Speaker 3: Yep. No. And when you take money out of the bank,

660
00:27:26,560 --> 00:27:28,359
Speaker 3: you have to give them an excuse these days. So

661
00:27:28,640 --> 00:27:30,719
Speaker 3: when I said to them, I'm taking it out because

662
00:27:30,960 --> 00:27:32,600
Speaker 3: I don't trust the banks. I've been told not to

663
00:27:32,600 --> 00:27:34,400
Speaker 3: trust the bank, They're like, yeah, we've had so many

664
00:27:34,440 --> 00:27:36,240
Speaker 3: people come in and do exactly the same thing.

665
00:27:36,320 --> 00:27:38,800
Speaker 2: Well you didn't even lie to them. Yeah, I would

666
00:27:38,800 --> 00:27:42,440
Speaker 2: have lied to them. I would have been like, no,

667
00:27:42,840 --> 00:27:47,840
Speaker 2: it's true, exotic car. I just I laughed so hard.

668
00:27:47,880 --> 00:27:49,840
Speaker 2: So one day you go and you dig it up,

669
00:27:50,160 --> 00:27:53,200
Speaker 2: and what you took the containers just directly into the

670
00:27:53,240 --> 00:27:54,920
Speaker 2: bank and slammed it on the bench. So put this

671
00:27:55,000 --> 00:27:55,520
Speaker 2: back in the bank.

672
00:27:55,560 --> 00:27:57,879
Speaker 3: I need it, basically. Yeah. So I had photocopied the

673
00:27:57,920 --> 00:27:59,439
Speaker 3: receipts and when I'd taken it out of the bank,

674
00:27:59,480 --> 00:28:01,160
Speaker 3: because I knew that they'd want proof of me putting

675
00:28:01,200 --> 00:28:02,960
Speaker 3: so much back in, so I made sure that I

676
00:28:03,000 --> 00:28:04,639
Speaker 3: had all that documentation so I could go in and

677
00:28:04,720 --> 00:28:05,680
Speaker 3: be like, hey, here's the money.

678
00:28:05,880 --> 00:28:08,880
Speaker 2: Well, you're not money laundering, are you. Yeah? I wasn't

679
00:28:08,920 --> 00:28:11,320
Speaker 2: laundering this. It's actually really dirty. It's been in my garden.

680
00:28:12,440 --> 00:28:14,320
Speaker 3: It was very clean. I had it very well protected.

681
00:28:14,359 --> 00:28:15,800
Speaker 3: It was very well wrapped and everything.

682
00:28:15,920 --> 00:28:18,359
Speaker 2: No, I'm not surprised you bloody glad wrapped that, didn't you.

683
00:28:19,000 --> 00:28:20,920
Speaker 2: Like you went around, you put it in plastic containers,

684
00:28:21,000 --> 00:28:23,200
Speaker 2: you solidified it, then you put it in other containers

685
00:28:23,240 --> 00:28:26,280
Speaker 2: like I just know. Like and you said before, you

686
00:28:26,359 --> 00:28:28,560
Speaker 2: have no dependence. So if something had happened to you,

687
00:28:28,760 --> 00:28:30,600
Speaker 2: this money would have just been buried in the garden.

688
00:28:30,680 --> 00:28:32,720
Speaker 2: No one would have known about it. And then like

689
00:28:32,920 --> 00:28:34,879
Speaker 2: years from now, when this house of yours that you

690
00:28:35,000 --> 00:28:37,320
Speaker 2: currently live in gets knocked down, someone would have been like,

691
00:28:37,359 --> 00:28:39,640
Speaker 2: what is that and found one hundred grand.

692
00:28:39,720 --> 00:28:41,200
Speaker 3: Yeah, but what a cool story for them when they

693
00:28:41,240 --> 00:28:41,520
Speaker 3: found it.

694
00:28:41,640 --> 00:28:44,640
Speaker 2: Yeah, because it would have made no sense. What was

695
00:28:44,680 --> 00:28:48,120
Speaker 2: she doing selling drugs? Like that's giving drug money, my love.

696
00:28:48,360 --> 00:28:50,120
Speaker 3: I am in a mining town. That's very possible.

697
00:28:50,400 --> 00:28:53,480
Speaker 2: Exactly. I would have been like, now I'm scared that

698
00:28:53,600 --> 00:28:57,240
Speaker 2: I've found this money is the cartel after me? But no,

699
00:28:57,480 --> 00:28:59,520
Speaker 2: reality is money that I has just buried it because

700
00:28:59,560 --> 00:29:01,360
Speaker 2: she felt like that was a good place. Do you

701
00:29:01,440 --> 00:29:03,640
Speaker 2: know what, I love talking to people about money because

702
00:29:03,880 --> 00:29:05,880
Speaker 2: before you were like, oh, like you know, I can't

703
00:29:05,920 --> 00:29:07,800
Speaker 2: really talk to my friends and family about this. They

704
00:29:07,840 --> 00:29:11,680
Speaker 2: would find that hilarious. These are the stories that I

705
00:29:11,800 --> 00:29:14,760
Speaker 2: want to hear at brunch. So that's maybe not your

706
00:29:14,880 --> 00:29:18,720
Speaker 2: best money goal or sorry, your best money habit. You said, like,

707
00:29:18,800 --> 00:29:21,280
Speaker 2: obviously it's low risk tolerance. Do you think that you

708
00:29:21,560 --> 00:29:24,000
Speaker 2: date money out and buried again? Like or are you

709
00:29:24,160 --> 00:29:26,600
Speaker 2: changed woman? Or like what does that look like nowadays?

710
00:29:26,600 --> 00:29:29,560
Speaker 2: Because you said this was prior to you, like getting

711
00:29:29,600 --> 00:29:31,800
Speaker 2: on your financial journey, I suppose.

712
00:29:31,880 --> 00:29:33,720
Speaker 3: It was probably at the start of it. Yes, so

713
00:29:34,400 --> 00:29:38,560
Speaker 3: now I am learning or leaning more towards, you know,

714
00:29:38,840 --> 00:29:40,800
Speaker 3: trying to make every dollar work for me rather than

715
00:29:40,960 --> 00:29:43,520
Speaker 3: just having that and obviously now understanding that inflation is

716
00:29:43,560 --> 00:29:46,600
Speaker 3: making that money go backwards instead of forwards. So I

717
00:29:46,680 --> 00:29:48,720
Speaker 3: am at the stage now where do I get another

718
00:29:48,800 --> 00:29:51,120
Speaker 3: investment property? Do I put it into shares? And really

719
00:29:51,200 --> 00:29:53,960
Speaker 3: I need to look at the tax deductions more than

720
00:29:54,000 --> 00:29:56,520
Speaker 3: anything at the moment. So yeah, that's kind of where

721
00:29:56,560 --> 00:29:57,120
Speaker 3: I'm going.

722
00:29:57,200 --> 00:29:59,520
Speaker 2: Talk to me about advice because like, at the end

723
00:29:59,560 --> 00:30:02,320
Speaker 2: of the day, really wealthy, like as an individual, like

724
00:30:02,560 --> 00:30:05,440
Speaker 2: you are killing it. You have such a good like

725
00:30:05,640 --> 00:30:10,880
Speaker 2: trajectory to even become even wealthier. And on a regular trajectory,

726
00:30:11,160 --> 00:30:14,800
Speaker 2: your income or not your income, sorry, your assets, if

727
00:30:14,840 --> 00:30:18,360
Speaker 2: they're well invested, should double every ten issues and so

728
00:30:18,520 --> 00:30:20,320
Speaker 2: like you're gonna be worth millions, and like this is

729
00:30:20,600 --> 00:30:22,760
Speaker 2: very cool to think about because you said, oh, I'd

730
00:30:22,800 --> 00:30:25,040
Speaker 2: love to like retire by fifty two, and that's what

731
00:30:25,440 --> 00:30:28,640
Speaker 2: eleven years from now, like go, we are on the

732
00:30:28,760 --> 00:30:31,160
Speaker 2: right track. That is very exciting. But have you ever

733
00:30:31,240 --> 00:30:33,480
Speaker 2: thought about not just talking to your accountant, but talking

734
00:30:33,560 --> 00:30:36,520
Speaker 2: to a good financial advisor about like okay, like they

735
00:30:36,920 --> 00:30:38,920
Speaker 2: tell me what to do and like, unfortunately I can't

736
00:30:38,960 --> 00:30:40,440
Speaker 2: do that, but like an adviser could.

737
00:30:40,760 --> 00:30:42,760
Speaker 3: I think about it all the time, and I research

738
00:30:42,840 --> 00:30:44,600
Speaker 3: it all the time and I actually listen to a

739
00:30:44,680 --> 00:30:47,360
Speaker 3: different podcast the other day who was you know, because

740
00:30:47,360 --> 00:30:49,120
Speaker 3: it's so hard to find somebody who wants to give

741
00:30:49,120 --> 00:30:51,200
Speaker 3: you one off advice, and that's what I want is

742
00:30:51,280 --> 00:30:53,120
Speaker 3: just somebody to go this would be your best option.

743
00:30:53,360 --> 00:30:56,040
Speaker 3: I've got someone for you, Everest Wealth in Perth, the

744
00:30:56,240 --> 00:30:58,640
Speaker 3: go Perfect And you know what, if it was Money

745
00:30:58,720 --> 00:31:01,480
Speaker 3: Money Money, which is owned by Glenn James, he would

746
00:31:01,480 --> 00:31:05,320
Speaker 3: probably say the same company. Okay, if that's what you

747
00:31:05,400 --> 00:31:07,960
Speaker 3: are hypothetically listening to, because we both really love the

748
00:31:08,040 --> 00:31:09,960
Speaker 3: boys who own that, and they're one of the only

749
00:31:10,160 --> 00:31:12,240
Speaker 3: practices that give you one off advice. You can go

750
00:31:12,320 --> 00:31:14,360
Speaker 3: back to them, but like they don't try and I

751
00:31:14,400 --> 00:31:15,920
Speaker 3: don't know, I feel like a sales person want to

752
00:31:15,960 --> 00:31:17,760
Speaker 3: talk about this, but like they're not going to lock

753
00:31:17,800 --> 00:31:20,040
Speaker 3: you in for monthly installments or like monthly fees.

754
00:31:20,080 --> 00:31:22,680
Speaker 2: They'll just be like, here's your plan. You're completely competent,

755
00:31:22,760 --> 00:31:23,520
Speaker 2: go do it yourself.

756
00:31:23,880 --> 00:31:26,440
Speaker 3: Yeah, because I did go to a financial planner probably

757
00:31:26,480 --> 00:31:28,720
Speaker 3: about ten years ago now when I first got into mining,

758
00:31:28,800 --> 00:31:30,720
Speaker 3: and they just didn't do it for me. It was

759
00:31:30,880 --> 00:31:32,800
Speaker 3: very one sided. They were just trying to sell their products,

760
00:31:32,800 --> 00:31:34,080
Speaker 3: so that kind of put me off a little bit.

761
00:31:34,280 --> 00:31:37,360
Speaker 2: Yeah, well, if you are interested in listening to more podcasts,

762
00:31:37,480 --> 00:31:40,160
Speaker 2: it's just like an unsolicited recommendation. On my side, I

763
00:31:40,280 --> 00:31:42,640
Speaker 2: did a Q and A with a financial advisor recently

764
00:31:42,680 --> 00:31:45,600
Speaker 2: called Daisy, and Daisy actually works at Everest and she

765
00:31:45,880 --> 00:31:48,760
Speaker 2: is delightful, like a lot of my clients have gone

766
00:31:48,800 --> 00:31:51,400
Speaker 2: to her now I'm not an advisor, and they rave

767
00:31:51,480 --> 00:31:53,480
Speaker 2: about her. So if you want to maybe dip your

768
00:31:53,520 --> 00:31:55,800
Speaker 2: toes in the water again, I think that that's a

769
00:31:55,840 --> 00:31:58,720
Speaker 2: good recommendation. And I'll obviously like shoot you an email

770
00:31:58,760 --> 00:32:00,880
Speaker 2: after this with her details. It all in your court,

771
00:32:00,960 --> 00:32:02,880
Speaker 2: but I think that that could actually put you on

772
00:32:02,960 --> 00:32:05,320
Speaker 2: the best possible trajectory, because.

773
00:32:05,080 --> 00:32:05,840
Speaker 3: That sounds awesome.

774
00:32:06,120 --> 00:32:08,800
Speaker 2: When you are a little bit more risk tolerant, you

775
00:32:08,920 --> 00:32:11,000
Speaker 2: want an advisor and this is not just about Everest,

776
00:32:11,080 --> 00:32:13,200
Speaker 2: this is just like in general, you want an advisor

777
00:32:13,240 --> 00:32:16,160
Speaker 2: who not only like helps direct you and says okay,

778
00:32:16,200 --> 00:32:18,920
Speaker 2: money dires like, yeah, how about shes that like gives

779
00:32:18,960 --> 00:32:21,120
Speaker 2: you all the pros and cons and the benefits and

780
00:32:21,240 --> 00:32:23,440
Speaker 2: like does a comparison of Okay, well if we put

781
00:32:23,480 --> 00:32:25,760
Speaker 2: it into this property, this is what this would look like.

782
00:32:25,840 --> 00:32:29,200
Speaker 2: And they can like project out the tax advantages, they

783
00:32:29,240 --> 00:32:31,960
Speaker 2: can talk to you about suberinuation and like making sure

784
00:32:32,000 --> 00:32:34,640
Speaker 2: that you're more comfortable with that because at your age,

785
00:32:35,080 --> 00:32:37,680
Speaker 2: with the income that you have, I wouldn't be surprised

786
00:32:37,720 --> 00:32:39,760
Speaker 2: if one of the things that they recommend is every

787
00:32:39,800 --> 00:32:43,320
Speaker 2: single year maxing out your super contributions, because like, at

788
00:32:43,320 --> 00:32:45,120
Speaker 2: the end of the day, you got the cash. Like

789
00:32:45,240 --> 00:32:47,200
Speaker 2: it's not like, oh should I shouldn't? I like my

790
00:32:47,240 --> 00:32:50,280
Speaker 2: lifestyle is going to be compromised, Like you're already telling

791
00:32:50,360 --> 00:32:52,520
Speaker 2: me you have massive tax bills, And that's a way

792
00:32:52,560 --> 00:32:54,280
Speaker 2: to not only get a little bit of tax back

793
00:32:54,360 --> 00:32:57,239
Speaker 2: money w but a way to avoid a fair bit

794
00:32:57,280 --> 00:33:00,400
Speaker 2: of tax because the tax environment inside subunuation is fifteen

795
00:33:00,480 --> 00:33:03,200
Speaker 2: percent and like with your income go you're on the

796
00:33:03,280 --> 00:33:06,640
Speaker 2: highest marginal tax bracket, which is very sexy but doesn't

797
00:33:06,800 --> 00:33:09,920
Speaker 2: feel like it when you're having to pay that much tax.

798
00:33:10,440 --> 00:33:12,320
Speaker 3: That's right, And I never thought I would be in

799
00:33:12,360 --> 00:33:14,440
Speaker 3: this position, And even up until this year, I'd never

800
00:33:14,560 --> 00:33:17,320
Speaker 3: reached that top tax bracket until I got the house, really,

801
00:33:17,800 --> 00:33:20,080
Speaker 3: so it's never been a consideration until this year. And

802
00:33:20,440 --> 00:33:22,320
Speaker 3: even when the tax account said to me, hey, you've

803
00:33:22,320 --> 00:33:24,040
Speaker 3: made two hundred and three thousand dollars this year. I

804
00:33:24,120 --> 00:33:26,680
Speaker 3: was like, excuse me, I'd dropped out of school at fifteen?

805
00:33:26,880 --> 00:33:29,120
Speaker 3: Can you repeat that? She's like repeat what? I'm like,

806
00:33:29,160 --> 00:33:30,000
Speaker 3: how much did I make?

807
00:33:30,160 --> 00:33:32,600
Speaker 2: But isn't that kind of cool? Like I just want

808
00:33:32,640 --> 00:33:34,760
Speaker 2: to go back? And I feel like the period of

809
00:33:34,840 --> 00:33:37,600
Speaker 2: time that we spoke about before, like you're twenty one,

810
00:33:37,760 --> 00:33:40,400
Speaker 2: your partner died, I feel like that would have been

811
00:33:40,520 --> 00:33:41,920
Speaker 2: chaos and you would have been like, well, what's my

812
00:33:42,000 --> 00:33:44,320
Speaker 2: life going to look like if I'm not going to

813
00:33:44,400 --> 00:33:45,840
Speaker 2: live it with him? And I'm like, we're not on

814
00:33:45,960 --> 00:33:48,960
Speaker 2: this trajectory and I'm going to be really stereotypical for

815
00:33:49,040 --> 00:33:51,000
Speaker 2: a hot second. And I'm assuming that if you got together,

816
00:33:51,120 --> 00:33:53,920
Speaker 2: you'll be together for seven years. The next trajectory was

817
00:33:54,000 --> 00:33:57,160
Speaker 2: probably like marriage and then maybe children and like working

818
00:33:57,240 --> 00:34:00,320
Speaker 2: in the small town and so like just living that life.

819
00:34:00,440 --> 00:34:05,160
Speaker 2: This is not what maybe you had envisioned. Sh'd be stoked.

820
00:34:05,720 --> 00:34:08,960
Speaker 3: Yeah, And it was actually his twentieth anniversary yesterday for

821
00:34:09,040 --> 00:34:10,080
Speaker 3: his passing, which is why.

822
00:34:09,920 --> 00:34:13,400
Speaker 2: I climbed the mountain yesterday. Yeah, oh my goodness.

823
00:34:14,000 --> 00:34:17,040
Speaker 3: And the twenty years wasn't about, you know, grieving that.

824
00:34:17,120 --> 00:34:18,960
Speaker 3: It was twenty years ago. It was about how far

825
00:34:19,080 --> 00:34:21,840
Speaker 3: I've come in twenty years and what I've overcome in

826
00:34:21,960 --> 00:34:24,120
Speaker 3: twenty years, because there's been bad times and good times

827
00:34:24,160 --> 00:34:26,400
Speaker 3: in between, and you get to that stage where you're like,

828
00:34:26,719 --> 00:34:29,200
Speaker 3: okay this year, because some years it still really rocks me,

829
00:34:29,280 --> 00:34:30,879
Speaker 3: and then other years it doesn't affect me at all.

830
00:34:31,480 --> 00:34:34,439
Speaker 3: So it's about how far you've come in that twenty years.

831
00:34:34,640 --> 00:34:37,560
Speaker 2: Yeah. I was speaking to a team member today who

832
00:34:37,680 --> 00:34:40,520
Speaker 2: lost a very close family member in the last week,

833
00:34:40,680 --> 00:34:43,000
Speaker 2: and I said to her, grief is a price that

834
00:34:43,080 --> 00:34:44,960
Speaker 2: we pay for love, and I think that that's a

835
00:34:45,000 --> 00:34:47,560
Speaker 2: good price because it feels like trash, but it just

836
00:34:47,680 --> 00:34:50,560
Speaker 2: means that that relationship was clearly a good one. Like

837
00:34:50,640 --> 00:34:52,759
Speaker 2: he was clearly a good man, he was clearly a

838
00:34:52,800 --> 00:34:55,040
Speaker 2: good person, and like I'm telling you right now, if

839
00:34:55,080 --> 00:34:57,320
Speaker 2: he wasn't after twenty years, it wouldn't rock you. And

840
00:34:57,400 --> 00:34:59,719
Speaker 2: I think that that's just like so special that you're

841
00:34:59,719 --> 00:35:02,600
Speaker 2: still saying, you know, it still rocks me sometimes, And

842
00:35:02,880 --> 00:35:04,080
Speaker 2: I don't want that to be good.

843
00:35:04,280 --> 00:35:04,640
Speaker 3: I don't.

844
00:35:04,719 --> 00:35:06,400
Speaker 2: I really wish you didn't have to go through that,

845
00:35:06,560 --> 00:35:08,959
Speaker 2: But like, do you know what if I pass away,

846
00:35:09,440 --> 00:35:12,320
Speaker 2: I hope that in twenty years people are still talking

847
00:35:12,480 --> 00:35:15,640
Speaker 2: about losing me is a genuine loss? Like that's a

848
00:35:15,760 --> 00:35:18,680
Speaker 2: good position to be in, right, Like he'd be pretty stoked.

849
00:35:18,680 --> 00:35:21,080
Speaker 2: He's like still on her mind. It's been twenty years.

850
00:35:21,160 --> 00:35:23,759
Speaker 2: I'm still there, Like that's where I want to be.

851
00:35:23,920 --> 00:35:26,520
Speaker 2: I don't know about you, money diarist, talk to me

852
00:35:26,640 --> 00:35:29,359
Speaker 2: a little bit more about this grade that you gave

853
00:35:29,400 --> 00:35:32,080
Speaker 2: yourself because I'm so sorry. B.

854
00:35:32,640 --> 00:35:34,239
Speaker 3: Yeah, definitely B.

855
00:35:34,680 --> 00:35:38,400
Speaker 2: B okay, B for real? Why A B? How do

856
00:35:38,480 --> 00:35:40,120
Speaker 2: we get you from a B to an A? Is

857
00:35:40,200 --> 00:35:42,080
Speaker 2: that just about kind of like pulling your finger out

858
00:35:42,080 --> 00:35:44,440
Speaker 2: a bit, like maybe getting some financial advice and getting

859
00:35:44,440 --> 00:35:48,080
Speaker 2: those like goals organized or is it you just don't

860
00:35:48,120 --> 00:35:50,080
Speaker 2: feel confident with money? Like, tell me a bit more.

861
00:35:50,440 --> 00:35:52,520
Speaker 3: So to get to an A, it would be financial advice.

862
00:35:52,560 --> 00:35:54,719
Speaker 3: It'd be to know what direction I'm going in because

863
00:35:54,719 --> 00:35:56,960
Speaker 3: at the moment, I just kind of go, okay, I

864
00:35:57,080 --> 00:35:58,800
Speaker 3: listened to a lot of stuff, but I never know,

865
00:35:58,920 --> 00:36:00,600
Speaker 3: you know, is shares the way to always property in

866
00:36:00,640 --> 00:36:02,200
Speaker 3: the way to go and I always question it. So

867
00:36:02,760 --> 00:36:06,239
Speaker 3: to have the you know, I guess more clarity on

868
00:36:06,320 --> 00:36:08,040
Speaker 3: which way is the right way or what to go

869
00:36:08,280 --> 00:36:09,080
Speaker 3: or what to do next?

870
00:36:09,239 --> 00:36:11,320
Speaker 2: Yeah, And to be a little bit pervy, and I

871
00:36:11,360 --> 00:36:13,520
Speaker 2: feel like lots of people. I have lots of friends

872
00:36:13,520 --> 00:36:15,759
Speaker 2: who are in their like late thirties, early forties who

873
00:36:15,800 --> 00:36:19,040
Speaker 2: are still single. No, they haven't gone through situations like yours,

874
00:36:19,160 --> 00:36:21,760
Speaker 2: but like they just still haven't found their life partner.

875
00:36:21,800 --> 00:36:24,000
Speaker 2: And I find that a lot of them are putting

876
00:36:24,440 --> 00:36:27,360
Speaker 2: big decisions off or like not really wanting to solidify

877
00:36:27,480 --> 00:36:29,840
Speaker 2: goals because they're still kind of like really hopeful that

878
00:36:29,880 --> 00:36:32,480
Speaker 2: they'll find that person that they could then build those

879
00:36:32,560 --> 00:36:35,400
Speaker 2: goals together with. Do you feel like you're in that

880
00:36:35,520 --> 00:36:37,160
Speaker 2: limbo of being like, well, I really hope I meet

881
00:36:37,280 --> 00:36:39,320
Speaker 2: someone and then it can be us, it can be

882
00:36:39,400 --> 00:36:41,319
Speaker 2: our goals. Or are you kind of like no, I'm

883
00:36:41,360 --> 00:36:43,799
Speaker 2: a strong, independent woman and like look at my dog,

884
00:36:44,160 --> 00:36:45,919
Speaker 2: like I don't know what. How do you feel about

885
00:36:45,960 --> 00:36:46,279
Speaker 2: all of this?

886
00:36:46,640 --> 00:36:48,840
Speaker 3: A bit of both camps? So it would be lovely.

887
00:36:48,960 --> 00:36:51,479
Speaker 3: And it's been twenty years of going you know, because

888
00:36:51,480 --> 00:36:53,879
Speaker 3: I've had relationships within that twenty years. Don't get me wrong,

889
00:36:54,160 --> 00:36:56,399
Speaker 3: but it's always do I feel confident enough to put

890
00:36:56,440 --> 00:36:59,240
Speaker 3: somebody on my will? And for somebody who got burnt

891
00:36:59,239 --> 00:37:00,600
Speaker 3: by not having a will, well, I only made a

892
00:37:00,640 --> 00:37:02,759
Speaker 3: will when I got the house because I was like,

893
00:37:02,840 --> 00:37:04,759
Speaker 3: I've got nobody to leave stuff too, does it matter

894
00:37:04,840 --> 00:37:07,680
Speaker 3: where my stuff goes? So basically my parents are on

895
00:37:07,719 --> 00:37:09,520
Speaker 3: my will anyway, because I've got nobody else, and that's

896
00:37:09,560 --> 00:37:10,800
Speaker 3: who it would have went to if I didn't have

897
00:37:10,840 --> 00:37:12,840
Speaker 3: a will. Yeah, so I would love somebody there just

898
00:37:12,920 --> 00:37:14,640
Speaker 3: so I could be like, yes, I can make a

899
00:37:14,719 --> 00:37:16,720
Speaker 3: plan now because I know who's going to get everything

900
00:37:16,800 --> 00:37:20,080
Speaker 3: I've worked for. But when it's just you, you kind

901
00:37:20,120 --> 00:37:22,000
Speaker 3: of go, well, I've got enough to live once I die,

902
00:37:22,000 --> 00:37:22,680
Speaker 3: it doesn't really matter.

903
00:37:22,920 --> 00:37:26,120
Speaker 2: Yeah, look, it's very true, and I find it like,

904
00:37:26,600 --> 00:37:29,000
Speaker 2: obviously I don't when you're waiting around for like some

905
00:37:29,239 --> 00:37:31,560
Speaker 2: night in shining Armor to come and like sweep you

906
00:37:31,640 --> 00:37:33,400
Speaker 2: off your feet like slay, I would love that for you.

907
00:37:33,600 --> 00:37:36,000
Speaker 2: Like I'm manifesting that very hard and I hope that

908
00:37:36,120 --> 00:37:38,160
Speaker 2: it happens. But at the same time, this is going

909
00:37:38,239 --> 00:37:41,279
Speaker 2: to sound so more bad. Women actually outlive men. So

910
00:37:41,400 --> 00:37:43,760
Speaker 2: at some point, even though if you have shared goals,

911
00:37:43,840 --> 00:37:47,880
Speaker 2: the likelihood of you outliving another partner. That is, if

912
00:37:47,960 --> 00:37:50,239
Speaker 2: you're completely straight and you decide that a mail is

913
00:37:50,320 --> 00:37:52,680
Speaker 2: the right fit for you, you're more likely to have

914
00:37:52,760 --> 00:37:55,600
Speaker 2: to go back to being that strong, independent single woman

915
00:37:55,719 --> 00:37:57,680
Speaker 2: again at some point in your life. So I'm like,

916
00:37:57,920 --> 00:38:00,000
Speaker 2: go set it up right, let's get it all organized.

917
00:38:00,320 --> 00:38:01,880
Speaker 2: They can come in, but they're just a piece of

918
00:38:01,920 --> 00:38:04,200
Speaker 2: the puzzle. They're like, they get to do some goals

919
00:38:04,280 --> 00:38:06,759
Speaker 2: with us, but we're actually fine. We're actually set up

920
00:38:06,800 --> 00:38:08,920
Speaker 2: and we're good to go. But it can be like

921
00:38:09,160 --> 00:38:11,320
Speaker 2: feeling like you're in limbo because it might change the

922
00:38:11,480 --> 00:38:14,640
Speaker 2: trajectory of your life. It might change that, but that's

923
00:38:14,719 --> 00:38:16,719
Speaker 2: kind of okay. We can redo. Like I promise you

924
00:38:16,840 --> 00:38:18,400
Speaker 2: right now, you're not going to be mad if you

925
00:38:18,520 --> 00:38:20,600
Speaker 2: do all your financial planning, all your eggs are like

926
00:38:20,760 --> 00:38:23,399
Speaker 2: in the right basket. Then you meet someone you're like, damn,

927
00:38:23,440 --> 00:38:25,359
Speaker 2: I have to see a financial advisor again because we've

928
00:38:25,360 --> 00:38:27,120
Speaker 2: got new goals. You're not going to be mad about that.

929
00:38:27,440 --> 00:38:28,800
Speaker 3: But then the other issue is, and I have a

930
00:38:28,840 --> 00:38:32,080
Speaker 3: lot of friends in the same boat. Once you're financially stable,

931
00:38:32,120 --> 00:38:33,880
Speaker 3: if somebody else comes in, you do worry about that

932
00:38:34,000 --> 00:38:35,560
Speaker 3: person taking what you've worked for.

933
00:38:35,760 --> 00:38:38,560
Speaker 2: Ah, we're getting a binding financial agreement. Yeah no, screw

934
00:38:38,640 --> 00:38:41,840
Speaker 2: them prematter at all assets Like we are protecting ourselves,

935
00:38:41,840 --> 00:38:43,880
Speaker 2: and that's what a good financial advisor will do. For

936
00:38:44,000 --> 00:38:47,239
Speaker 2: you as well, like, sorry, you can't come in and

937
00:38:47,360 --> 00:38:49,400
Speaker 2: pretend to be a night and shiming armor and then

938
00:38:49,480 --> 00:38:52,040
Speaker 2: just be a trojan horse, Like yeah, absolutely not, you

939
00:38:52,160 --> 00:38:54,600
Speaker 2: get all getting my stuff. No, Like, we're going to

940
00:38:54,640 --> 00:38:57,640
Speaker 2: protect our assets with the right structure. So if someone

941
00:38:57,680 --> 00:39:00,160
Speaker 2: comes in, that's fine. I can share with you. I'd

942
00:39:00,160 --> 00:39:01,680
Speaker 2: love to build a life with you. But if I

943
00:39:01,760 --> 00:39:04,040
Speaker 2: decide that you're not here for the long term, you

944
00:39:04,080 --> 00:39:06,440
Speaker 2: don't get anything. You didn't come this far to only

945
00:39:06,480 --> 00:39:06,960
Speaker 2: come this far.

946
00:39:08,280 --> 00:39:10,279
Speaker 3: And in the industry I am in, you know, because

947
00:39:10,280 --> 00:39:11,759
Speaker 3: a lot of the boys work away from home and

948
00:39:11,800 --> 00:39:14,799
Speaker 3: stuff like that, it is very common for marriage breakdowns,

949
00:39:15,360 --> 00:39:17,719
Speaker 3: so you hear a lot of bad stories out here

950
00:39:17,760 --> 00:39:19,200
Speaker 3: and it does put you off. And I am very

951
00:39:19,280 --> 00:39:21,000
Speaker 3: much because of what I went through. What's mine is

952
00:39:21,040 --> 00:39:23,239
Speaker 3: mine and what's yours is yours rather than sharing, and

953
00:39:23,360 --> 00:39:25,960
Speaker 3: it takes a lot for me to trust people and go, okay,

954
00:39:26,080 --> 00:39:27,000
Speaker 3: let's do this together.

955
00:39:27,200 --> 00:39:31,640
Speaker 2: Yeah. I feel like you would benefit again hypothetically, from

956
00:39:31,719 --> 00:39:35,960
Speaker 2: having a conversation with your accountant about a trust setup.

957
00:39:36,480 --> 00:39:38,920
Speaker 2: And that's not a recommendation, that's just something. Go have

958
00:39:39,000 --> 00:39:41,120
Speaker 2: a chat with them about what the pros and cons

959
00:39:41,160 --> 00:39:44,760
Speaker 2: of that are, because that can actually protect your assets

960
00:39:44,880 --> 00:39:49,359
Speaker 2: even more than a binding financial agreement, because I think

961
00:39:49,400 --> 00:39:51,759
Speaker 2: we've all heard it, like binding financial agreements are great,

962
00:39:52,160 --> 00:39:55,000
Speaker 2: but they can actually be challenged if someone is as

963
00:39:55,120 --> 00:39:58,759
Speaker 2: committed to getting your money as you are to protecting it,

964
00:39:59,000 --> 00:40:01,120
Speaker 2: Like the likelihood of it going through the courts and like,

965
00:40:01,200 --> 00:40:03,279
Speaker 2: you know, maybe you're not getting what you want is

966
00:40:03,360 --> 00:40:06,520
Speaker 2: quite high. But a trust can actually protect a lot

967
00:40:06,560 --> 00:40:08,840
Speaker 2: of that, especially if it was established prior to the

968
00:40:08,920 --> 00:40:09,920
Speaker 2: relationship beginning.

969
00:40:10,239 --> 00:40:12,200
Speaker 3: Okay, that's good to know because I actually had a

970
00:40:12,239 --> 00:40:14,120
Speaker 3: conversation with one of the people out here the other day,

971
00:40:14,160 --> 00:40:16,920
Speaker 3: and he's got a couple of properties and a business

972
00:40:17,000 --> 00:40:18,920
Speaker 3: and everything, and he went to his accountant and she said, no,

973
00:40:18,960 --> 00:40:20,520
Speaker 3: there's no trust because there's no dependence.

974
00:40:20,760 --> 00:40:25,279
Speaker 2: Yes, but it's more about like protecting future you and

975
00:40:25,520 --> 00:40:28,640
Speaker 2: like hopefully future you meets that person that you're really

976
00:40:28,680 --> 00:40:31,400
Speaker 2: comfortable with, and then there's no like second thought in

977
00:40:31,480 --> 00:40:33,040
Speaker 2: your mind of like, ooh, do I need to like

978
00:40:33,160 --> 00:40:35,719
Speaker 2: have a chat before you know he stays over too

979
00:40:35,760 --> 00:40:37,680
Speaker 2: many times and becomes a de facto or do I

980
00:40:37,800 --> 00:40:39,759
Speaker 2: need to like no, no, no, it's already like seit

981
00:40:39,840 --> 00:40:41,440
Speaker 2: and forget and you don't even need to tell them

982
00:40:41,480 --> 00:40:43,759
Speaker 2: what you own, Like you can just be like, oh yeah,

983
00:40:43,920 --> 00:40:46,440
Speaker 2: like I just pay twenty bucks a week for this house. Yeah,

984
00:40:46,520 --> 00:40:49,160
Speaker 2: full stop at a story, live, love, laugh, and then

985
00:40:49,200 --> 00:40:50,759
Speaker 2: maybe when we trust them, we can tell them.

986
00:40:50,840 --> 00:40:53,399
Speaker 3: And that's the thing. Everybody sees as buying a house

987
00:40:53,440 --> 00:40:56,400
Speaker 3: outrighters this amazing flex and it's like, yes, I am

988
00:40:56,440 --> 00:40:58,120
Speaker 3: proud that I've done it. I mean it's pretty good

989
00:40:58,160 --> 00:41:01,560
Speaker 3: flex yeah, But for me, I also know that it's

990
00:41:01,600 --> 00:41:03,279
Speaker 3: hype of vigilance from what I went through and that

991
00:41:03,360 --> 00:41:05,840
Speaker 3: I stop piled money and you know, saved myself. So

992
00:41:06,080 --> 00:41:08,400
Speaker 3: to them, it's flexibi. I can see both sides of.

993
00:41:08,400 --> 00:41:10,279
Speaker 2: It, and I think that's why I'm like, there's no

994
00:41:10,400 --> 00:41:12,680
Speaker 2: right or wrong, Like, was that the wrong decision? Absolutely

995
00:41:12,760 --> 00:41:15,320
Speaker 2: not for you. I think you feel very confident. Was

996
00:41:15,400 --> 00:41:17,359
Speaker 2: burying your money in the garden a batter a good

997
00:41:17,400 --> 00:41:19,839
Speaker 2: thing doesn't actually matter? Did you feel good? I felt

998
00:41:19,880 --> 00:41:23,520
Speaker 2: good exactly. So I feel like it's not about what

999
00:41:23,719 --> 00:41:26,160
Speaker 2: is right or wrong, but more what works for your situation.

1000
00:41:26,360 --> 00:41:28,279
Speaker 2: And that's what's so beautiful about this. I'm glad it

1001
00:41:28,360 --> 00:41:30,560
Speaker 2: has all worked out and that you're in a good position,

1002
00:41:30,680 --> 00:41:32,840
Speaker 2: but it's also about like what structure is going to

1003
00:41:32,880 --> 00:41:35,759
Speaker 2: make you feel most confident, because like, I'm sorry going

1004
00:41:35,840 --> 00:41:37,640
Speaker 2: into these and like I've got girlfriends who have been

1005
00:41:37,680 --> 00:41:39,920
Speaker 2: divorced and they're going into new relationships and like, oh,

1006
00:41:39,920 --> 00:41:42,000
Speaker 2: what do I do because I have a house that

1007
00:41:42,120 --> 00:41:44,440
Speaker 2: you know, thankfully I got out of the divorce, but

1008
00:41:44,560 --> 00:41:46,080
Speaker 2: like I don't want my new partner getting it because

1009
00:41:46,080 --> 00:41:48,560
Speaker 2: I have kids and if something happened, Like it's all complex, right,

1010
00:41:48,880 --> 00:41:50,680
Speaker 2: and that's where we just want to get good advice

1011
00:41:51,040 --> 00:41:53,120
Speaker 2: so that we can sleep at night and know, Okay, well,

1012
00:41:53,280 --> 00:41:56,240
Speaker 2: you know, if the proverbial hit the fan, I'm actually fine,

1013
00:41:56,520 --> 00:41:58,920
Speaker 2: Like I'm actually really good and I can walk out

1014
00:41:59,000 --> 00:42:02,920
Speaker 2: of this as wealthy as I walked into this, And

1015
00:42:03,160 --> 00:42:05,040
Speaker 2: that's what I want for you. You didn't work again,

1016
00:42:05,160 --> 00:42:06,960
Speaker 2: You didn't work this hard to only work this hard,

1017
00:42:07,080 --> 00:42:10,319
Speaker 2: you know, like your plan of retiring at fifty two

1018
00:42:10,680 --> 00:42:13,120
Speaker 2: can and will happen and ain't no man getting in

1019
00:42:13,160 --> 00:42:13,520
Speaker 2: the way of that.

1020
00:42:14,400 --> 00:42:16,239
Speaker 3: And something else you will be interested in. My four

1021
00:42:16,320 --> 00:42:19,320
Speaker 3: hundred and thirty five thousand dollar house makes eight hundred

1022
00:42:19,320 --> 00:42:20,640
Speaker 3: and fifty dollars a week rent.

1023
00:42:20,800 --> 00:42:24,160
Speaker 2: Stop it. That rental yield is so sexy. Tell me,

1024
00:42:24,600 --> 00:42:26,880
Speaker 2: how did you do that? Was that why you purchased

1025
00:42:26,920 --> 00:42:28,480
Speaker 2: it or did you just go Oh, it's just like

1026
00:42:28,680 --> 00:42:30,480
Speaker 2: kind of in the same town that I'm living in, Like,

1027
00:42:30,800 --> 00:42:33,239
Speaker 2: where do we find Because I take my money right now,

1028
00:42:33,280 --> 00:42:34,919
Speaker 2: you can have four hundred and thirty five thousand dollars.

1029
00:42:34,960 --> 00:42:36,360
Speaker 2: I would actually have to get a loan for that.

1030
00:42:36,680 --> 00:42:39,600
Speaker 2: That's okay though, because I'm not as risk tolerant as you.

1031
00:42:39,880 --> 00:42:41,840
Speaker 2: I would happily take out the loan for that amount

1032
00:42:41,880 --> 00:42:44,640
Speaker 2: of rent. When how so it is in.

1033
00:42:44,680 --> 00:42:48,759
Speaker 3: A mining town. It's in Mournbach in Queensland. Obviously with

1034
00:42:48,920 --> 00:42:51,680
Speaker 3: coal everything's up in the air at the moment. Everybody's worried,

1035
00:42:51,840 --> 00:42:54,319
Speaker 3: so kind of like people say, you know, while people

1036
00:42:54,360 --> 00:42:56,880
Speaker 3: are scared by them. So that's what i'd done. Because

1037
00:42:56,920 --> 00:42:58,560
Speaker 3: I am in coal mining, I know that what you

1038
00:42:58,680 --> 00:43:01,600
Speaker 3: hear on the news is not actually what's happening out in.

1039
00:43:01,840 --> 00:43:04,640
Speaker 2: Not the reality. It's almost crazy, isn't it. It's almost

1040
00:43:04,680 --> 00:43:07,080
Speaker 2: like the news just makes up things to be entertaining.

1041
00:43:08,760 --> 00:43:11,200
Speaker 3: So I know that my job is secure. As much

1042
00:43:11,239 --> 00:43:12,960
Speaker 3: as my mind's gonna shut, I know that I can

1043
00:43:13,080 --> 00:43:15,640
Speaker 3: leave mine go to another one straight away. So yeah,

1044
00:43:15,719 --> 00:43:19,480
Speaker 3: so hi, rental yields because nobody really wants to live

1045
00:43:19,520 --> 00:43:21,320
Speaker 3: there or buy there because they all think the call's

1046
00:43:21,360 --> 00:43:23,520
Speaker 3: going down. Mount Eyes is another one you hear about

1047
00:43:23,520 --> 00:43:25,359
Speaker 3: all the time. At the moment, I've got friends out there,

1048
00:43:25,440 --> 00:43:28,160
Speaker 3: They're all like, guys, it's one mind where running thirty?

1049
00:43:28,320 --> 00:43:30,040
Speaker 3: Why are you worried if one opens or shuts?

1050
00:43:30,320 --> 00:43:32,640
Speaker 2: So yeah, oh my god, I love this and that

1051
00:43:32,760 --> 00:43:35,359
Speaker 2: little insight. I feel like that's a little investing hot

1052
00:43:35,480 --> 00:43:39,000
Speaker 2: tip if you're looking for investing properties money. Jrus, this

1053
00:43:39,080 --> 00:43:41,279
Speaker 2: has been beautiful. I have loved this. There's been so

1054
00:43:41,440 --> 00:43:44,360
Speaker 2: many like surprises in this conversation that I just honestly

1055
00:43:44,360 --> 00:43:47,000
Speaker 2: didn't see coming from you, being like, look, I have

1056
00:43:47,239 --> 00:43:50,239
Speaker 2: really low risk tolerance. Hi, I have crypto to you

1057
00:43:50,400 --> 00:43:53,200
Speaker 2: talking about your COVID journey of like literally burying your

1058
00:43:53,320 --> 00:43:56,879
Speaker 2: cash in the garden. I'm obsessed the fact that you've

1059
00:43:56,920 --> 00:43:59,399
Speaker 2: built yourself up to this in the last twenty years,

1060
00:43:59,520 --> 00:44:01,920
Speaker 2: and like, I just feel like it's such a timely

1061
00:44:02,040 --> 00:44:05,560
Speaker 2: conversation because obviously yesterday you were reflecting on the passing

1062
00:44:05,640 --> 00:44:09,120
Speaker 2: of your partner literally twenty years prior. Girl, You've come

1063
00:44:09,239 --> 00:44:11,840
Speaker 2: so far. I'm so excited that you're in our community.

1064
00:44:11,880 --> 00:44:14,719
Speaker 2: I'm so excited that you've shared your journey with us, Like,

1065
00:44:15,160 --> 00:44:15,960
Speaker 2: what a privilege.

1066
00:44:16,040 --> 00:44:17,520
Speaker 3: Thank you, No, thank you.

1067
00:44:24,040 --> 00:44:26,560
Speaker 2: The advice shared on She's on the Money is general

1068
00:44:26,640 --> 00:44:30,479
Speaker 2: in nature and does not consider your individual circumstances. She's

1069
00:44:30,520 --> 00:44:33,960
Speaker 2: on the Money exists purely for educational purposes and should

1070
00:44:34,040 --> 00:44:37,200
Speaker 2: not be relied upon to make an investment or financial decision.

1071
00:44:37,560 --> 00:44:40,040
Speaker 2: If you do choose to buy a financial product, read

1072
00:44:40,040 --> 00:44:44,160
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards

1073
00:44:44,239 --> 00:44:47,480
Speaker 2: your needs. Victoria Divine and She's on the Money are

1074
00:44:47,560 --> 00:44:52,520
Speaker 2: authorized representatives of money. Sheper pty Ltd ABN three two

1075
00:44:52,640 --> 00:44:55,600
Speaker 2: one IS six four nine two seven seven zero eight

1076
00:44:55,920 --> 00:44:58,439
Speaker 2: AFSL four five one two eight nine

1077
00:45:01,200 --> 00:45:01,239
Speaker 3: The