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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impactful tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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

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Speaker 2: It's all about giving gifts that are thoughtful, meaningful and

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Speaker 2: maybe even finance empowering. Are you overgiving the same old

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Speaker 2: gifts every year? Let's be real, how many candles and

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Speaker 2: bath bombs can one person actually use?

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Speaker 4: Many?

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Speaker 2: Like, probably go twelve a day?

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Speaker 4: You know what, I have a bath maybe every couple

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Speaker 4: of days. There's nothing like it, nothing, but I love

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Speaker 4: a bath. I love a bath bomb. I don't love

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Speaker 4: the bath bombs that change your skin color though, you

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Speaker 4: know how sometimes you get in and then you get

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Speaker 4: out with like a shiny pink ting Like that's not

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Speaker 4: for me. So if you're going to give bath bombs,

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Speaker 4: be really thoughtful about the ones you give. Absolutely, or

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Speaker 4: you could just give them money.

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Speaker 2: This year, what if you could give something that actually grows?

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Speaker 2: And I don't mean like houseplant or like houseplants though,

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Speaker 2: this is the thing, just in case people are stening

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Speaker 2: they don't know who I am. I'm excited and today

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Speaker 2: we're not just talking about holiday presents. We're talking about

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Speaker 2: gifts that can actually build a future. Enjoining me as

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Speaker 2: always is Victoria Divide, whose love language is a perfect

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Speaker 2: mix of financial literacy, which I know is not a

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Speaker 2: love language any thoughtful gift giving.

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Speaker 4: I feel like financial literacy is a love language. I

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Speaker 4: think it should be.

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Speaker 2: Let's make it because like the love languages were made

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Speaker 2: by some dude.

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Speaker 4: Yeah, like we're updating them love language find.

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Speaker 2: Financial literacy, yeah, refe.

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Speaker 4: I also do definitely have the love language of gift giving,

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Speaker 4: Like I love giving, do you do? I have a

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Speaker 4: creepy list on my phone of just like ideas for

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Speaker 4: presents for people that sometimes I put down and I'm like,

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Speaker 4: I would never buy that person a present, but I

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Speaker 4: need to put it on the list because that would

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Speaker 4: be really thoughtful.

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Speaker 2: That's I need too.

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Speaker 4: But I guess today is not about house plants, it's

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Speaker 4: not about bath bombs. We're actually going to be rethinking

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Speaker 4: the idea of the gift that keeps on giving. Okay,

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Speaker 4: so what if beck instead of a present that gets

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Speaker 4: tossed decided by the time New Year's rolls around, we

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Speaker 4: could actually give people something that builds wealth over time.

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Speaker 4: And obviously I'm talking about investing.

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Speaker 2: Honestly, I know that there are probably people listening, and

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Speaker 2: I'm not gonna lie this is me, but investing as

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Speaker 2: a gift kind of sounds too serious or complicated. But also,

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Speaker 2: you know when someone's like, I've given you a present,

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Speaker 2: it's a donation to your favorite charity, Like, oh, that's

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Speaker 2: actually really nice, but I wanted a box of chocolates.

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Speaker 4: Actually, so when I bought everyone in the team last

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Speaker 4: year a goat from Oxfam, you were like, that's cool,

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Speaker 4: but I wanted the money I wanted. Sorry, sorry, I

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Speaker 4: got the goats from Oxfam were really cool. You're probably

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Speaker 4: still going to get a goat this year because it's

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Speaker 4: a milind to my love language, totally listen, mentally prepared.

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Speaker 4: But I feel like it's not that deep, right, like

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Speaker 4: investing men used to do it, So how hard could

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Speaker 4: it be?

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Speaker 3: Back?

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Speaker 4: Sure, exactly right. So I think it's more exciting than

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Speaker 4: you think it is. Plus I'm going to show you

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Speaker 4: how you could get a little bit creative with it,

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Speaker 4: So it feels, I guess, just as personal as any

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Speaker 4: other gift you might give it this type of the year.

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Speaker 2: I love getting a little bit crafty, a little bit creative.

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Speaker 4: I'm very crafty, very into cross stitch at the moment,

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Speaker 4: very into needle point, very into embroidery. I feel like

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Speaker 4: I've aged probably like thirty years since having a baby.

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Speaker 2: We don't look it.

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Speaker 4: That's because I stopped breastfeeding and I was able to

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Speaker 4: get my botox.

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Speaker 2: Oh yeah, would actually combine the two cross stitching and investing,

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Speaker 2: I'm sure so tells Why is it a good idea

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Speaker 2: and not just like a finance person thing.

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Speaker 4: You're a finance person. Everyone is a finance person. I

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Speaker 4: don't throw one person who doesn't use money. Yeah, you're

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Speaker 4: a finance people. He just didn't know it yet. He

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Speaker 4: actually uses money, like he goes into the bush. That

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Speaker 4: is a next level privilege. Right, you have to be like,

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Speaker 4: I'm going off grid. Okay, cool, you have to pay

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Speaker 4: to get there. On that anyway, completely different story. But

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Speaker 4: let's think about it like this. So when you give

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Speaker 4: an investment as a gift, you're actually giving someone a

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Speaker 4: really tiny piece of financial freedom, unless you're giving them

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Speaker 4: like millions invested, in which case you're giving them entire

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Speaker 4: financial freedom. If you would like to give that to me,

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Speaker 4: totally open. My address is actually on our website. But

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Speaker 4: it's not just money, right, it's potential. It's something that

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Speaker 4: could grow over time and contribute to a future goal,

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Speaker 4: whether it's I don't know, buying a home or them traveling,

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Speaker 4: or just building a safety net or a urgency fund.

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Speaker 1: Right.

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Speaker 4: And for anyone who's new to investing, it's also like

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Speaker 4: a really gentle nudge in the right direction so that

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Speaker 4: they start hopefully learning about their finances, but without the pressure,

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Speaker 4: because you didn't have to cough up the money to

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Speaker 4: begin with. Right. It's a classic example of I don't know,

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Speaker 4: teaching a man to fish or a person to fish,

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Speaker 4: rather than just giving them a fish. Yeah, I just

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Speaker 4: don't think that fish for Christmas is a good idea, though,

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Speaker 4: Like I would be really disappointed if, like Christmas morning

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Speaker 4: rolls around and there was a fish in my Santa Sac.

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Speaker 2: A raw fish, possibly smelly by that point.

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Speaker 4: Yet one out of ten. But I do think that

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Speaker 4: it is a really great present to think about, especially

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Speaker 4: when you're like, oh my gosh, this person has literally everything,

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Speaker 4: but they're also a little bit financially irresponsible.

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Speaker 2: Maybe yeah, like maybe they have everything because they're financially it's.

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Speaker 4: Exactly like me, exactly better. Imagine if I turned around

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Speaker 4: and said, beck, I got you an investment, You'd be like,

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Speaker 4: what the hell? But then maybe you'd have to work

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Speaker 4: out how to redeem that gift card, or like you'd

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Speaker 4: have to work out how to invested, or you might

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Speaker 4: get a little bit interested in it. And that's like

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Speaker 4: the snowballs starting. And I know that you've already started investing, right, so,

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Speaker 4: like you already invest Imagine if I said, hey, here's

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Speaker 4: a contribution to this because I knew what platform you're

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Speaker 4: on and bought like a gift card for your investing platform,

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Speaker 4: you'd be like, oh my gosh, because I know you've

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Speaker 4: only been starting small. Imagine if I gave you fifty bucks,

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Speaker 4: you'd like double your investment. We feel exciting.

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Speaker 2: That would be so motivating. I feel how a snowball

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Speaker 2: effect might be created from that. But I sound like

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Speaker 2: a thowtful way to kickstart someone's financial journey if they're not,

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Speaker 2: you know, fully there yet. Plus I love that it's

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Speaker 2: a gift that could get bigger and bigger, you.

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Speaker 4: Know, absolutely, like over time you feel like I could

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Speaker 4: only afford a twenty dollars gift, Great, no worries, Like

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Speaker 4: that's a fantastic gift. In the future, it's going to

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Speaker 4: be worth way more.

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Speaker 2: But like, how do you actually do it?

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Speaker 4: So there are lots of different ways to go about it,

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Speaker 4: depending on who you're giving gifts to, how much you

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Speaker 4: want to spend. So before we get there, I think

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Speaker 4: it's also important to highlight here we have an episode

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Speaker 4: on investing for children, because that's actually a completely different

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Speaker 4: ball game then me gifting new money for investing, right beck,

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Speaker 4: Because if I give you a gift, there's no tax implications,

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Speaker 4: But if you are going to invest on behalf of

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Speaker 4: a child because you are probably their guardian, you're going

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Speaker 4: to have some tax implications there. And if it's in

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Speaker 4: the miner's name, those tax implications are even higher. So

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Speaker 4: I'm not going to get into it too deeply because

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Speaker 4: there's an entire episode on it, but essentially, small human

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Speaker 4: beings get taxed astronomically, like over fifty percent when they invest,

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Speaker 4: so a lot of the time it's smart to keep

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Speaker 4: it in your name. But that's a decision that you

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Speaker 4: can make and work out because a lot of people

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Speaker 4: in our community, they also go, oh, instead of you know,

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Speaker 4: investing individually for my child, I'm actually going to buy

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Speaker 4: what's called an investment bond, right, and that is a

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Speaker 4: really tax effective way of investing for a child. So

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Speaker 4: maybe an investment bond becomes a kid's Christmas present. It

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Speaker 4: sounds less sexy, but we can frame it up and

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Speaker 4: you know what we can do. We could jump on

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Speaker 4: like cam and make up like a little gift certificate,

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Speaker 4: so a little bit more exciting, right, that's pretty cure. Yeah,

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Speaker 4: I know anyway, So I just wanted to caveat it

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Speaker 4: that way because obviously there's a few different ways we

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Speaker 4: could invest, but for kids, it is a little bit different. Sure,

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Speaker 4: there's a whole episode on it, but the first thing

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Speaker 4: is shares right like shares stocks my favorite thing in

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Speaker 4: the entire world. You could use platforms like shares is

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Speaker 4: where you can actually gift individual shares or contribute to

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Speaker 4: a share portfolio. So that's when you know if someone

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Speaker 4: has a specific holding or like I know Beck you

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Speaker 4: invest with shares's because you told everybody on the podcast.

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Speaker 4: So that makes it really simple. But if it's someone

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Speaker 4: that you don't know invests yet, like you could purchase

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Speaker 4: shares in any way. To be honest, the best way

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Speaker 4: that I would do it is actually to give them

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Speaker 4: the money so that they can invest in their own name,

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Speaker 4: because it's very hard to transfer a share to somebody

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Speaker 4: else's name, whole heap of admin that you don't want

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Speaker 4: to do. But you could draw them up a really

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Speaker 4: cute like quote share certificate or like Canva or something,

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Speaker 4: and then give them the money and be like, this

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Speaker 4: money is intended for you to invest.

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Speaker 2: I imagine if you gave me cash, you know that's

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Speaker 2: going to I.

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Speaker 4: Know you're not going to do it, yes, so you

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Speaker 4: could get an investment gift card. So platforms like Chaz's

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Speaker 4: and other platforms as well, and like this isn't me

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Speaker 4: just promoting chair Za's it's just because I know what

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Speaker 4: the best At this point in time. They offer investment

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Speaker 4: gift cards. So if I give you an investment gift card,

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Speaker 4: you can choose your investments, but you can't spend it

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Speaker 4: on anything else.

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Speaker 2: Beck, that's very helfl Actually that's great.

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Speaker 4: It locks and loads you, right, that's all. You could

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Speaker 4: talk to the person that you're gifting about an ETF, right,

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Speaker 4: so you could do some research for them, and I

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Speaker 4: could say, Beck, I know your likes and dislikes, and

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Speaker 4: I've picked out this ETF and here's a gift card.

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Speaker 4: I'd love you to buy this particular ETF because it

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Speaker 4: aligns to your values. It's ethical, it's moral. Oh my gosh, Beck,

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Speaker 4: they only have women on their boards. I think you'd

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Speaker 4: be like, oh, thanks for the research. That does sound

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Speaker 4: aligned to me. And I think it's just a really

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Speaker 4: fun way to go about it. Also, an ETF, it's

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Speaker 4: a bucket of shares, right, so and ETF Lots of

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Speaker 4: people throw that term around because they like to confuse us.

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Speaker 4: In the investing world, it's called an exchange traded fund,

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Speaker 4: which feels even more complicated, but essentially it's a bucket

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Speaker 4: of shares that someone who has the knowledge and the

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Speaker 4: power and is an investment manager has picked this list

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Speaker 4: of shares. It could be twenty shares, it could be

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Speaker 4: two hundred shares, it could be any amount, right, but

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Speaker 4: they've picked this specific amount of shares and put it

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Speaker 4: all in this bucket and said, if you put your

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Speaker 4: money in our bucket, you'll get instant access to all

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Speaker 4: of these shares. So you get the average return of

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Speaker 4: that list as opposed to just me giving you one

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Speaker 4: bank share. Yeah, does that make sense.

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Speaker 2: Definitely.

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Speaker 4: So that's a good way of making it a little

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Speaker 4: bit less risky, a little bit more diversified, and I

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Speaker 4: don't know, it feels a little bit personal. Yeah, very

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Speaker 4: thoughtful for your friends who are maybe a little bit

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Speaker 4: more conservative. You could pick a bond. My favorite way

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Speaker 4: of explaining a bond is like an IOU note. Okay,

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Speaker 4: So if I gave you an IOU note, you have

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Speaker 4: this little piece of paper and you go, my cash

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Speaker 4: is in one day, and I go, you wait ten years, beck.

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Speaker 4: But essentially what happens is the government usually issues what's

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Speaker 4: called a bond, and they go out to market and

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Speaker 4: they say, hey, Beck, we want to build some new roads,

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Speaker 4: or we want to build some public hospitals or some

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Speaker 4: infrastructure for our community, but we need some funding, Like,

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Speaker 4: we don't have the cash for it today, but we

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Speaker 4: know that if we do this, we'll have the cash

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Speaker 4: in ten years. Right, So they go, Beck, could we

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Speaker 4: borrow your cash and we'll give you an IOU note?

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Speaker 4: So we give all your cash back when we're done

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Speaker 4: with it ten years and along the way we'll pay

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Speaker 4: you five percent. Is that cool? And you go, Okay,

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Speaker 4: take my cash. Can I have my IOU note and

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Speaker 4: I'll cash it in later? When this term ex bias

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Speaker 4: per year? Yeah, often often so it just depends on

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Speaker 4: what the bond is and how much it's paying. But

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Speaker 4: it is usually a safer option or a less quote

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Speaker 4: risks ski option than an ETF or buying shares because

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Speaker 4: here in Australia bonds are triple A rated. So what's

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Speaker 4: that mean back? It means that in Australia, historically a

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Speaker 4: bond that has been issued by our government has never

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Speaker 4: not been returned, right, So they always, always, always have

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Speaker 4: historically given our money back. Can't say the same for

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Speaker 4: the Greek government though, Oh they don't really like giving

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Speaker 4: their money back, how do they get away with that

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Speaker 4: what their entire economy is in a lot of debt.

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Speaker 2: I see, yeah, I see like.

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Speaker 4: They're in a bit of a pickle. You could say back, sure,

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Speaker 4: but in Australia, bonds do return, so they are seen

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Speaker 4: to be a less risky gift that if your friend's

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Speaker 4: not ready to invest in shares or in you know, ds,

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Speaker 4: they might feel a little bit more comfortable with that.

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Speaker 2: Also, that's cute.

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Speaker 4: In most investing portfolios, a bond makes up a really

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Speaker 4: good portion of like a stable investment. Think about an

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Speaker 4: investing portfolio as a pie chart. Usually you would, you know,

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Speaker 4: draw some lines through the pie chart and then fill

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Speaker 4: in the blanks. Right, So, like for somebody who's a

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Speaker 4: bit more of an aggressive investor, like me, I have

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Speaker 4: my pie chart, but most of that pie is actually

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Speaker 4: made up of shares, and I do have some bonds,

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Speaker 4: but most of my assets are in shares. But if

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Speaker 4: someone's a bit more conservative, they're like, oh, put the

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Speaker 4: rakes on, I'm not ready to invest in shares as

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Speaker 4: aggressively as Victoria is. They're seem to be a more

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Speaker 4: conservative investor. They still have their pie, right, but their

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Speaker 4: pis cut up and most of it is made up

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Speaker 4: of bonds and cash and.

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Speaker 2: Less risky things.

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Speaker 4: Yeah, less risky things. And they might still have shares,

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Speaker 4: and they might be identical to mine, they just own

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Speaker 4: less of them. The pires cut up in different ways. Yeah,

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Speaker 4: but it doesn't mean that the asset is more risky.

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Speaker 4: It's just seen to be a more risky portfolio because

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Speaker 4: it has more shares instead of the stable things. Yes,

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Speaker 4: so don't make sense totally. I think it's really cool.

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Speaker 2: Imagine like I gave one hundred bucks in a bond

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Speaker 2: right now, and then in ten years time, because right

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Speaker 2: now it's like, oh thanks, Like I can't even see

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Speaker 2: this money for like a decade.

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Speaker 4: Yeah, but it's starting to pay off.

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Speaker 2: They're getting the back maybe double exactly.

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Speaker 4: Money should double every ten years and in an average

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Speaker 4: rate of return based on the Australian share market, your

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Speaker 4: money should double if you're investing in the Australian share

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Speaker 4: market every seven years.

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Speaker 2: That's that's real. That's really a good deal.

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Speaker 4: Bet.

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Speaker 2: So you can actually make this gift as big or

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Speaker 2: as little as you want. You can tailor it to

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Speaker 2: how involved with the person wants to get and for

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Speaker 2: someone who's totally new, maybe starting with a little bit

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Speaker 2: and shares could be exciting without being overwhelming. And as

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Speaker 2: you just explain, like investing can be a little bit

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Speaker 2: different for kids, So just keep that in mind. We

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Speaker 2: do have a whole episode on that.

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Speaker 4: Yeah, and I mean it can be really cool. So

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Speaker 4: I have had you know, Glenn James, my friend from

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Speaker 4: this is Money or money, Money, money, Okay, he has

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Speaker 4: lots of different pod names floating around at the moment.

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Speaker 4: He talks about how he invests for his niece and

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Speaker 4: his nephew and he has an investment bond for them

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Speaker 4: that every year, instead of Christmas and Birthday presents, he

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Speaker 4: just contributes more to that investment bond. And so that's

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Speaker 4: something that Steve and I have set up for Harvey,

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Speaker 4: and that's what we will be doing. Because I won't

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Speaker 4: say it's the most tax effective for everybody, right, Like,

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Speaker 4: this is a very privileged thing for me to be

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Speaker 4: able to say and do, right, I'm just being completely transparent.

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Speaker 2: Sure, But because.

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Speaker 4: Steve and I are high income earnest and our tax

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Speaker 4: is at the highest marginal tax bracket, an investment bond

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Speaker 4: works best for us, Okay, Right, So we've decided that

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Speaker 4: we want to invest for Harvey, and we've done all

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Speaker 4: of the maths in the background and gone, well, what

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Speaker 4: does this mean? We really want to invest for him,

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Speaker 4: But it actually isn't financially a very smart decision for

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Speaker 4: us to invest in Harvey's name. Nor is it a

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Speaker 4: smart decision for me to go and buy shares that

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Speaker 4: I know pretend to Harvey's and I'll transfer to him

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Speaker 4: one day, because I'll have a whole heap of transfer

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Speaker 4: fees that I need to pay, because you can't just

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Speaker 4: transfer easily and be like, oh, here's this gift. Like

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Speaker 4: the taxman's going to be like, hey see how you

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Speaker 4: had these shares because Harvey has been investing now for

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Speaker 4: eighteen years. So what you're going to have to do

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Speaker 4: is pay capital gains tax as you transfer that over.

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Speaker 4: And I'm just looking into the future and going, I know,

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Speaker 4: I don't want to do that because what did I

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Speaker 4: say before, beck, money is on average going to double

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Speaker 4: every seventy yeares.

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Speaker 2: Yeah, yeah, yeah, we're going to.

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Speaker 4: Have hopefully a really big capital gains issue because we've

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Speaker 4: made heap of money. But I don't want to pay

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Speaker 4: their tax man. I do love paying tax don't get

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Speaker 4: me wrong. It is an absolute privilege.

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Speaker 1: Beck.

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Speaker 4: The more money you make, the more tax you pay,

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Speaker 4: and the more tax you pay, the more privilege you are.

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Speaker 4: That's a good deal. But if I can avoid it

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Speaker 4: in the future, that's a good deal too.

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Speaker 2: That's good.

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Speaker 4: So an investment bond has made the most sense for

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Speaker 4: Steve and I in our personal situation, but it doesn't

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Speaker 4: mean that all work for everybody. You might go, it

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Speaker 4: just makes sense for me to have a few shares

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Speaker 4: in my own name, and I will deal with it.

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Speaker 4: In fact, the entire reason I have shares in my

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Speaker 4: own name is because I really want to teach my

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Speaker 4: kid about the concept of investing rather than have them

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Speaker 4: you have a house deposit when they are eighteen years old,

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Speaker 4: because that's just not financially viable for me. And so

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Speaker 4: I think it's important to work out what works for you,

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Speaker 4: which is why we have that episode. But I don't know.

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Speaker 4: I feel like I owe you guys transparency as well,

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Speaker 4: to be like, well, this is what I'm doing, but

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Speaker 4: also this is why I'm doing it. Yes, because if

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Speaker 4: I just said, oh, Beck, well we've chosen an investment bond,

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Speaker 4: you might go, well, that makes the most sense then,

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Speaker 4: because if they did. It must be the best decision, right, Like,

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Speaker 4: if Victoria is doing something and she's you know, a

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Speaker 4: money person, an investment bond must be the best outcome.

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Speaker 4: But that doesn't mean it is for you. Does that

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Speaker 4: make sense?

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Speaker 2: Yeah, definitely, And from memory, I know this is in

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Speaker 2: the episode, but it's a higher tax bracket. So people

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Speaker 2: don't kind of like take advantage of like putting money

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Speaker 2: in their children's names.

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Speaker 4: You great, me so proud, thank you. Yeah, it's come

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Speaker 4: into play because rich people can be really dodgy. But ha,

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Speaker 4: And what they do is they set up these family

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Speaker 4: trusts because they've got fancy pants accountants and they can

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Speaker 4: afford to set these structures up. And they go, all right,

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Speaker 4: I'm going to put my kid Beck in this structure

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Speaker 4: and every year I'm going to distribute income to Beck,

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Speaker 4: because as you know, the first eighteen or so thousand

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Speaker 4: dollars you earn, you don't pay tax on. Right, So

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Speaker 4: if I paid my kid eighteen grand, tax free money

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Speaker 4: coming out, and then they just go into their kids'

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Speaker 4: bank account, pull it out tax free, okay, dodgy, dodgy,

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Speaker 4: that is not okay. So to get around all of

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Speaker 4: this the ater is gone, no, no, no, no, no. What

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Speaker 4: we're going to do is miners can only earn up

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Speaker 4: to four hundred and sixteen dollars per year from investment income,

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Speaker 4: so that's a pretty good deal. They could absolutely earn,

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Speaker 4: you know, a couple of hundred bucks before this comes

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Speaker 4: into play, before facing tax rates of sixty six percent.

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Speaker 2: Whoa, that is astronomical, right, that's higher than the highest

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Speaker 2: marginal tax rate in Australia.

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Speaker 4: Literally, they're doing it so that you're turned off doing

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Speaker 4: that rate.

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Speaker 2: See pretty well.

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Speaker 4: I think there needs to be like more flexibility in

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Speaker 4: this area because like some of us, we're just doing

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Speaker 4: the best that we can and we're genuinely investing for

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Speaker 4: our kid. Like what if your kid was one of

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Speaker 4: those like Target models, like you know the kids in

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Speaker 4: the Target catalog. Yeah, but what if they go and

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Speaker 4: they're earning their own money and then mum and dad

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Speaker 4: are being smart about it and they're investing it, like

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Speaker 4: they shouldn't be crucified by the money that they're earning.

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Speaker 4: But the richie riches of the world took the mickey

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Speaker 4: and now the ATO were like, we're just going to

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Speaker 4: ban that. Oh yeah, so anyone under ateen that applies

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Speaker 4: to However, Beck, that doesn't apply if they've earned the

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Speaker 4: money from paid employment. So like if a kid is

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Speaker 4: you know, fourteen years and nine months and got their

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Speaker 4: first job, obviously different tax rates apply. This is just

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Speaker 4: for passively earned income.

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Speaker 2: Oh okay, gotcha, gotcha, got cha?

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Speaker 4: Okay, So what about you just stop the sneaky fancy pantss.

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Speaker 4: But at the same time, I think it's important that

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Speaker 4: we understand why that exists, so then you can pick

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Speaker 4: a structure that makes sense. Because if you were just

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Speaker 4: investing pocket money, Beck, maybe it's of absolutely no consequence

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Speaker 4: to you. And you're like, I don't mind if my

435
00:19:50,880 --> 00:19:54,359
Speaker 4: kid has you know, fifteen dollars worth of shares in

436
00:19:54,400 --> 00:19:57,160
Speaker 4: their name and they're trading and making you know, less

437
00:19:57,200 --> 00:19:59,320
Speaker 4: than a dollar a year on it, like it's their

438
00:19:59,359 --> 00:20:01,800
Speaker 4: financial edge. You just have to be aware when you're

439
00:20:01,800 --> 00:20:05,680
Speaker 4: making more than the four hundred ishmark. Right. But Beck,

440
00:20:05,800 --> 00:20:08,440
Speaker 4: as you said in the intro to this podcast, one

441
00:20:08,440 --> 00:20:12,639
Speaker 4: of my love languages is thoughtful gift giving, and you

442
00:20:12,640 --> 00:20:15,240
Speaker 4: weren't making that up. So let's take a really quick

443
00:20:15,280 --> 00:20:17,720
Speaker 4: break because afterwards, I'm going to give you some ideas

444
00:20:17,800 --> 00:20:20,439
Speaker 4: on how to choose the right investment for your gift

445
00:20:20,480 --> 00:20:22,760
Speaker 4: and make it more thoughtful and more meaningful.

446
00:20:27,040 --> 00:20:29,200
Speaker 2: All right, we are back everybody. But before the break

447
00:20:29,280 --> 00:20:31,200
Speaker 2: V you did promise us some tips on how to

448
00:20:31,240 --> 00:20:33,760
Speaker 2: choose the right investment for your gift. I think again,

449
00:20:34,440 --> 00:20:36,960
Speaker 2: like you, Beck, I wouldn't go, all right, well, I've

450
00:20:37,000 --> 00:20:40,359
Speaker 2: just purchased you some shares on self Wealth, because you'd

451
00:20:40,359 --> 00:20:43,760
Speaker 2: be like, oh my gosh, that is an overwhelming, confusing platform.

452
00:20:43,840 --> 00:20:46,840
Speaker 4: It's a great platform. I have used that platform and

453
00:20:46,880 --> 00:20:49,600
Speaker 4: still hold assets on that platform, and I really like it.

454
00:20:49,680 --> 00:20:52,320
Speaker 4: But I was an ex financial advisor and I really

455
00:20:52,400 --> 00:20:55,200
Speaker 4: like the way things work on there. However, you're a

456
00:20:55,240 --> 00:20:58,000
Speaker 4: Shares's girl, right like, and you just like the fact

457
00:20:58,040 --> 00:21:00,520
Speaker 4: that it's on an app. I can almost guarantee you've

458
00:21:00,560 --> 00:21:04,840
Speaker 4: never logged into your Shares's account on a computer, have you, Yeah, exactly.

459
00:21:05,280 --> 00:21:07,960
Speaker 4: So we need to think about picking the right investment

460
00:21:08,000 --> 00:21:11,080
Speaker 4: for the right person. Because self Wealth it doesn't have

461
00:21:11,119 --> 00:21:14,600
Speaker 4: a very good ap like it's very much a desktop

462
00:21:14,720 --> 00:21:17,480
Speaker 4: user experience, so that doesn't make a lot of sense.

463
00:21:17,800 --> 00:21:19,879
Speaker 4: But the first thing I'd really want to think about

464
00:21:19,920 --> 00:21:24,600
Speaker 4: here is time period. Like, if somebody is investing, how

465
00:21:24,680 --> 00:21:27,360
Speaker 4: long are they going to be investing for So if

466
00:21:27,359 --> 00:21:29,879
Speaker 4: you're like, oh, I really want to get Beck to invest,

467
00:21:29,920 --> 00:21:32,520
Speaker 4: and like, let's pretend that you're a rich boomer, rich boomer, Okay,

468
00:21:32,680 --> 00:21:36,200
Speaker 4: channel your rich boomer energy. You want to invest one

469
00:21:36,200 --> 00:21:39,280
Speaker 4: thousand dollars for Beck? Right, yep, yeah, we really want

470
00:21:39,280 --> 00:21:41,399
Speaker 4: to do that, But Beck is currently saving for a

471
00:21:41,440 --> 00:21:44,080
Speaker 4: first home. Is that the best decision to bank?

472
00:21:44,440 --> 00:21:45,439
Speaker 2: Like you see, if.

473
00:21:45,320 --> 00:21:47,800
Speaker 4: I invested one thousand dollars for you as a rich boomer,

474
00:21:48,680 --> 00:21:51,439
Speaker 4: because that's you know, who can afford to give in

475
00:21:51,480 --> 00:21:53,520
Speaker 4: my head presents that are to the value of a

476
00:21:53,600 --> 00:21:57,240
Speaker 4: thousand dollars in if we were doing that, does that

477
00:21:57,320 --> 00:22:00,000
Speaker 4: then mean that you're going to pull that money out

478
00:22:00,119 --> 00:22:02,280
Speaker 4: pretty quickly to put towards your home deposit?

479
00:22:02,720 --> 00:22:03,160
Speaker 1: Right? Yeah?

480
00:22:03,240 --> 00:22:05,679
Speaker 4: Yeah, because you might go, shit, like that's one thousand

481
00:22:05,760 --> 00:22:09,119
Speaker 4: dollars and I'm really aggressively saving for a house, Like

482
00:22:09,160 --> 00:22:11,280
Speaker 4: that would be much better used here. I think we've

483
00:22:11,280 --> 00:22:13,480
Speaker 4: got to put our thinking caps on and think about

484
00:22:13,480 --> 00:22:17,160
Speaker 4: the timeframe if you are investing for them, or if

485
00:22:17,160 --> 00:22:20,560
Speaker 4: you are purchasing a gift card for them to invest,

486
00:22:20,800 --> 00:22:23,040
Speaker 4: like how long are they going to hold it? And

487
00:22:23,080 --> 00:22:25,200
Speaker 4: then how easy is it going to be for them

488
00:22:25,200 --> 00:22:27,119
Speaker 4: to manage it. I think we need to have a

489
00:22:27,160 --> 00:22:29,800
Speaker 4: good think about that, because I know that if I

490
00:22:29,880 --> 00:22:32,520
Speaker 4: purchased you something like a gift card where you could

491
00:22:32,520 --> 00:22:35,399
Speaker 4: pick your own investments on the platform you're already used,

492
00:22:35,800 --> 00:22:40,239
Speaker 4: that's thoughtful, that's meaningful. Me picking something completely rogue, that

493
00:22:40,400 --> 00:22:44,080
Speaker 4: just feels controlling, you know what I mean?

494
00:22:44,359 --> 00:22:46,320
Speaker 2: Right, And I might never actually be able to use

495
00:22:46,320 --> 00:22:47,480
Speaker 2: it because I don't know what to do with it.

496
00:22:47,480 --> 00:22:50,359
Speaker 2: I don't know where to go exactly. I see, and

497
00:22:50,400 --> 00:22:53,359
Speaker 2: how can we add some personalized touches to make the

498
00:22:53,400 --> 00:22:54,680
Speaker 2: gift even more meaningful?

499
00:22:54,880 --> 00:22:58,560
Speaker 4: So here's a few different ways that you could make

500
00:22:58,640 --> 00:23:02,359
Speaker 4: this gift really resonate supposed so relating to long term goals.

501
00:23:02,440 --> 00:23:05,880
Speaker 4: So say you're again rich boomer. It's a good example,

502
00:23:06,320 --> 00:23:09,480
Speaker 4: and you are saving for your first homeback, but you're

503
00:23:09,520 --> 00:23:11,479
Speaker 4: not very close, Like you know it's going to take

504
00:23:11,480 --> 00:23:14,000
Speaker 4: another seven to ten years to purchase that. You could

505
00:23:14,040 --> 00:23:16,040
Speaker 4: write a really beautiful card and be like, I know

506
00:23:16,160 --> 00:23:19,080
Speaker 4: that this is hopefully going to grow into part of

507
00:23:19,119 --> 00:23:21,439
Speaker 4: your home deposit, so like you know it could be

508
00:23:21,480 --> 00:23:23,439
Speaker 4: for like an eighteen or a nineteen year old and

509
00:23:23,440 --> 00:23:25,080
Speaker 4: you're like, I want you to put this away because

510
00:23:25,080 --> 00:23:26,879
Speaker 4: it doesn't make any sense right now for you to

511
00:23:26,920 --> 00:23:29,480
Speaker 4: purchase property. But I'd like to give you this money

512
00:23:29,520 --> 00:23:33,760
Speaker 4: in the hopes that by the time you purchase it's doubled. Yeah,

513
00:23:33,760 --> 00:23:36,400
Speaker 4: wouldn't that be cool? That's pretty cute exactly. And then

514
00:23:36,440 --> 00:23:38,199
Speaker 4: I think going back to what I was telling you

515
00:23:38,240 --> 00:23:41,400
Speaker 4: before about choosing investments with meanings, so like, if you're

516
00:23:41,440 --> 00:23:43,879
Speaker 4: going to pick a share or an ETF, I would

517
00:23:43,920 --> 00:23:46,200
Speaker 4: relate it to that person's interests. So like, if they

518
00:23:46,240 --> 00:23:49,000
Speaker 4: love tech, maybe you could buy them like a tech company.

519
00:23:49,400 --> 00:23:49,680
Speaker 5: Yeah.

520
00:23:49,840 --> 00:23:52,439
Speaker 4: Like, wouldn't it be so cool to like make up

521
00:23:52,480 --> 00:23:55,679
Speaker 4: a fake Apple gift card that then set on the

522
00:23:55,720 --> 00:23:57,320
Speaker 4: back ha ha these are shares?

523
00:23:57,840 --> 00:24:01,040
Speaker 2: Yeah, yea cool, that's pretty cute.

524
00:24:01,080 --> 00:24:03,760
Speaker 4: You could also always include a personal note. I'm a

525
00:24:03,840 --> 00:24:07,600
Speaker 4: very big fan of like writing proper Christmas cards for people. Yes,

526
00:24:07,640 --> 00:24:10,359
Speaker 4: so you could write a Christmas card for somebody that says,

527
00:24:10,359 --> 00:24:12,399
Speaker 4: here's a little start to your future. I chose this

528
00:24:12,480 --> 00:24:14,840
Speaker 4: book as the lines with something I know you're passionate about,

529
00:24:15,040 --> 00:24:17,160
Speaker 4: like and tell them how much you love them all

530
00:24:17,160 --> 00:24:18,560
Speaker 4: of that. Like, to be honest, all I want for

531
00:24:18,640 --> 00:24:22,400
Speaker 4: Christmas is Christmas cards. Anyway, here's a good idea veck.

532
00:24:22,920 --> 00:24:27,720
Speaker 4: You could include it in an investing book, huh, So

533
00:24:27,800 --> 00:24:31,359
Speaker 4: you couldmpare an investment like a little like investing gift

534
00:24:31,359 --> 00:24:34,200
Speaker 4: card with I don't know, maybe like a beginner friendly

535
00:24:34,880 --> 00:24:37,720
Speaker 4: investing book that's won some awards, Like I don't know,

536
00:24:37,880 --> 00:24:41,879
Speaker 4: investing's on the money. So this like sets some I

537
00:24:41,880 --> 00:24:45,959
Speaker 4: guess realistic expectations. It explains markets ups and downs, and

538
00:24:46,000 --> 00:24:48,920
Speaker 4: it really emphasizes that this gift is all about long

539
00:24:49,040 --> 00:24:52,000
Speaker 4: term wealth creation and growth and helping them be the

540
00:24:52,000 --> 00:24:54,960
Speaker 4: best version of themselves. Yes, but like I don't know

541
00:24:55,000 --> 00:24:56,160
Speaker 4: any investing.

542
00:24:55,720 --> 00:24:57,720
Speaker 2: Books, No, I don't know a single one.

543
00:24:57,960 --> 00:25:00,800
Speaker 4: But hypothetically, if you were to pair it with an

544
00:25:00,800 --> 00:25:03,480
Speaker 4: investing book, yes, I'm in a link one in the

545
00:25:03,520 --> 00:25:04,720
Speaker 4: show notes that you guys.

546
00:25:04,600 --> 00:25:07,800
Speaker 2: Might like pathetically that I might have written maybe no pressure,

547
00:25:07,960 --> 00:25:08,600
Speaker 2: no pressure.

548
00:25:08,720 --> 00:25:12,359
Speaker 4: But it's a gift. And also, like low Key, we

549
00:25:12,480 --> 00:25:15,639
Speaker 4: spent so long beck on the covers of those books,

550
00:25:15,840 --> 00:25:17,800
Speaker 4: So if you wanted to buy multiple, they look really

551
00:25:17,800 --> 00:25:20,280
Speaker 4: great as a little set, they do. They look lovely

552
00:25:20,320 --> 00:25:23,000
Speaker 4: as a coffee table book. Yeah, bedside table books, bedside

553
00:25:23,040 --> 00:25:25,840
Speaker 4: table book. Any stylists purchase this book put it on

554
00:25:25,920 --> 00:25:28,320
Speaker 4: people's bedside tables, when you're selling homes.

555
00:25:28,400 --> 00:25:30,680
Speaker 2: Yes, yes, yes, I mean it's just a care.

556
00:25:30,720 --> 00:25:31,640
Speaker 4: It just makes sense.

557
00:25:31,680 --> 00:25:32,400
Speaker 2: That just makes sense.

558
00:25:33,200 --> 00:25:35,280
Speaker 4: You could use it as I don't know, a month

559
00:25:35,359 --> 00:25:36,680
Speaker 4: older if you're not into.

560
00:25:36,480 --> 00:25:40,440
Speaker 2: Readings, beautiful coast stuff, fantastic at stop.

561
00:25:41,720 --> 00:25:46,360
Speaker 4: Same anyway, I think that that's probably the best Christmas

562
00:25:46,359 --> 00:25:49,439
Speaker 4: present you could get someone is basically you know my books.

563
00:25:49,520 --> 00:25:52,120
Speaker 2: Yeah that's true. Okay, so that's our guy to giving

564
00:25:52,119 --> 00:25:54,640
Speaker 2: a gift that's way more exciting than socks or any

565
00:25:54,640 --> 00:25:55,159
Speaker 2: of the candle.

566
00:25:55,440 --> 00:25:56,240
Speaker 4: I love a candle.

567
00:25:56,280 --> 00:25:56,760
Speaker 2: I do love a.

568
00:25:56,680 --> 00:25:59,520
Speaker 4: Candles Sunday blue candle. If you're looking for candles this

569
00:25:59,600 --> 00:26:04,840
Speaker 4: Christmas data paid sponsorship, they just have this Mediterranean blood

570
00:26:05,000 --> 00:26:05,880
Speaker 4: orange can.

571
00:26:06,080 --> 00:26:07,240
Speaker 2: Oh that's doning.

572
00:26:08,000 --> 00:26:08,840
Speaker 4: I guess okay, we're done.

573
00:26:08,920 --> 00:26:12,880
Speaker 2: Sorry, Well okay, this holiday season, why not give something

574
00:26:12,880 --> 00:26:15,480
Speaker 2: that grows with the person or maybe even inspires them

575
00:26:15,560 --> 00:26:18,359
Speaker 2: to learn about money. That's a really idea.

576
00:26:18,520 --> 00:26:21,240
Speaker 4: And think of it as like a little financial seed

577
00:26:21,280 --> 00:26:24,719
Speaker 4: that you're planning for someone, whether it's shares and ETF,

578
00:26:24,760 --> 00:26:28,720
Speaker 4: an investment bond, a book, an investing course that you

579
00:26:28,800 --> 00:26:32,240
Speaker 4: might want to give to someone for Christmas. I think

580
00:26:32,480 --> 00:26:34,720
Speaker 4: it's a gift that could turn into something much bigger

581
00:26:34,760 --> 00:26:37,640
Speaker 4: over time, and there's literally nothing more festive than the

582
00:26:37,680 --> 00:26:40,119
Speaker 4: idea of a future that's a little brighter. Beck. And

583
00:26:40,240 --> 00:26:43,800
Speaker 4: who knows, you might even spark a lifelong interest in investing.

584
00:26:43,800 --> 00:26:46,480
Speaker 4: Can you imagine? I know you dragged them into my community.

585
00:26:46,720 --> 00:26:48,200
Speaker 2: You could literally.

586
00:26:48,119 --> 00:26:50,720
Speaker 4: Change Merry Christmas. Beck, I'm going to add all your

587
00:26:50,720 --> 00:26:51,960
Speaker 4: friends to my Facebook group.

588
00:26:52,000 --> 00:26:54,680
Speaker 2: Thank you so much. That is a great You could

589
00:26:54,760 --> 00:26:57,120
Speaker 2: change the trajectory of someone's life in a good way.

590
00:26:57,240 --> 00:26:59,320
Speaker 2: That's my plan. That's literally what I've been trying to

591
00:26:59,320 --> 00:27:01,680
Speaker 2: do this whole time. Fantastic be Oh that's what you're

592
00:27:01,680 --> 00:27:03,800
Speaker 2: trying to do. Okay, Okay, I get it out. If

593
00:27:03,800 --> 00:27:05,840
Speaker 2: you're feeling extra generous this season and want to give

594
00:27:05,880 --> 00:27:08,080
Speaker 2: the shees on the Money team a little holiday cheer,

595
00:27:08,240 --> 00:27:10,520
Speaker 2: consider leaving us a love note in the form of

596
00:27:10,560 --> 00:27:11,280
Speaker 2: a review.

597
00:27:11,119 --> 00:27:13,439
Speaker 4: But also probably just put the actual love note in

598
00:27:13,480 --> 00:27:13,919
Speaker 4: the review.

599
00:27:14,080 --> 00:27:15,960
Speaker 2: A love note might actually be nice if you call it,

600
00:27:16,200 --> 00:27:18,919
Speaker 2: but seriously, it gives us a warm and fuzzy feeling.

601
00:27:19,400 --> 00:27:22,600
Speaker 4: Absolutely, and on our Friday episodes, we have started reading

602
00:27:22,680 --> 00:27:25,719
Speaker 4: out our favorite five star reviews so that you might

603
00:27:25,760 --> 00:27:28,680
Speaker 4: find yourself on the show. Reviews actually make a really

604
00:27:28,760 --> 00:27:31,520
Speaker 4: huge difference to the performance of our show as well,

605
00:27:31,680 --> 00:27:33,960
Speaker 4: which helps more people find Sheese on the Money and

606
00:27:34,080 --> 00:27:36,520
Speaker 4: join our incredible community. So if you do have a

607
00:27:36,520 --> 00:27:39,520
Speaker 4: few moments, we would love to hear what you think.

608
00:27:39,600 --> 00:27:41,920
Speaker 4: It's the best gift you could actually give us this year.

609
00:27:41,960 --> 00:27:44,440
Speaker 2: That's so true. Okay, happy for giving everyone. Here's to

610
00:27:44,520 --> 00:27:47,960
Speaker 2: thoughtful presents, bright futures and maybe a five star review.

611
00:27:48,080 --> 00:27:51,040
Speaker 4: Wow, just a cheeky one. Anyway, have a good week, guys,

612
00:27:51,040 --> 00:27:54,080
Speaker 4: and we will see you for five star reviews on Friday.

613
00:27:53,760 --> 00:27:54,720
Speaker 2: Who by guys.

614
00:28:00,720 --> 00:28:03,280
Speaker 5: The advice shared on She's on the Money is general

615
00:28:03,320 --> 00:28:07,160
Speaker 5: in nature and does not consider your individual circumstances. She's

616
00:28:07,240 --> 00:28:10,679
Speaker 5: on the Money exists purely for educational purposes and should

617
00:28:10,720 --> 00:28:13,880
Speaker 5: not be relied upon to make an investment or financial decision.

618
00:28:14,280 --> 00:28:16,720
Speaker 5: If you do choose to buy a financial product, read

619
00:28:16,760 --> 00:28:20,440
Speaker 5: the PDS TMD and obtain appropriate financial advice.

620
00:28:20,119 --> 00:28:21,439
Speaker 4: Tailored towards your needs.

621
00:28:21,800 --> 00:28:25,760
Speaker 5: Victoria Divine and She's on the Money are authorized representatives

622
00:28:25,800 --> 00:28:29,679
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