1 00:00:00,200 --> 00:00:02,000 Speaker 1: She's on the Money. 2 00:00:02,160 --> 00:00:19,119 Speaker 2: She's on the Money. Hello, and welcome to She's on 3 00:00:19,160 --> 00:00:22,800 Speaker 2: the Money, the podcast for millennials who want financial freedom. 4 00:00:22,880 --> 00:00:25,599 Speaker 2: Now these days, most of us are pretty aware of 5 00:00:25,640 --> 00:00:27,680 Speaker 2: the impact we have on the planet and on the 6 00:00:27,680 --> 00:00:31,040 Speaker 2: people around us. We opt for keep cups over disposable, 7 00:00:31,160 --> 00:00:33,720 Speaker 2: we're careful to separate our recyclables from the rest of 8 00:00:33,720 --> 00:00:36,919 Speaker 2: the rubbish, and we're slowly starting to change our behaviors 9 00:00:36,960 --> 00:00:40,600 Speaker 2: when it comes to fast fashion. But how about investing. 10 00:00:41,400 --> 00:00:43,960 Speaker 2: How can we start investing in a more ethical way? 11 00:00:44,400 --> 00:00:47,400 Speaker 2: And if we choose to, what implications will that have 12 00:00:47,560 --> 00:00:50,000 Speaker 2: not only on the future of our planet, but on 13 00:00:50,120 --> 00:00:53,640 Speaker 2: the future of our own bank accounts. My name is 14 00:00:53,760 --> 00:00:56,280 Speaker 2: Georgia King, and joining me to get to the bottom 15 00:00:56,320 --> 00:01:02,120 Speaker 2: of ethical investing is Financial Advisor, Miss Victoria Define. This 16 00:01:02,160 --> 00:01:05,240 Speaker 2: episode has been a very long time coming and the 17 00:01:05,280 --> 00:01:08,280 Speaker 2: people have been asking for it. But for anyone new 18 00:01:08,480 --> 00:01:11,280 Speaker 2: to the concept of ethical investing, can you talk us 19 00:01:11,280 --> 00:01:12,720 Speaker 2: through what it actually means? 20 00:01:12,959 --> 00:01:15,959 Speaker 1: I can. I'm so excited about this episode because not 21 00:01:16,000 --> 00:01:18,680 Speaker 1: only has it been long awaited by everybody in our community, 22 00:01:18,840 --> 00:01:20,840 Speaker 1: but ge how long have I been telling you I 23 00:01:20,920 --> 00:01:23,360 Speaker 1: really want to deep dive on ethical investing. 24 00:01:23,120 --> 00:01:24,280 Speaker 2: Probably since I started. 25 00:01:24,560 --> 00:01:27,840 Speaker 1: Yeah, it's crazy and I'm so opinionated about this, so 26 00:01:27,880 --> 00:01:29,959 Speaker 1: you just wait. I feel like this podcast is going 27 00:01:30,040 --> 00:01:32,760 Speaker 1: to get a little bit heated good anyway, As regular 28 00:01:32,800 --> 00:01:36,240 Speaker 1: pod listers would know, investing means buying shares in companies, 29 00:01:36,440 --> 00:01:40,600 Speaker 1: which makes you a baby stakeholder in that company money win. Naturally, 30 00:01:40,640 --> 00:01:43,160 Speaker 1: some companies are considered to be more ethical than others. 31 00:01:43,200 --> 00:01:46,320 Speaker 1: G For example, companies that work in the renewable energy 32 00:01:46,319 --> 00:01:48,880 Speaker 1: space have more of a positive impact on our planet 33 00:01:48,920 --> 00:01:52,200 Speaker 1: than those working in fossil fuels, and consequently, most of 34 00:01:52,280 --> 00:01:55,680 Speaker 1: us would consider them to be more ethical. So basically, 35 00:01:55,800 --> 00:01:59,040 Speaker 1: ethical investing is choosing to invest your money in companies 36 00:01:59,040 --> 00:02:01,520 Speaker 1: that have a positive impact on our society and or 37 00:02:01,560 --> 00:02:04,480 Speaker 1: our planet, rather than the companies who may not be 38 00:02:04,640 --> 00:02:05,360 Speaker 1: so ethical. 39 00:02:05,640 --> 00:02:08,440 Speaker 2: Right. I feel like we do kind of forget that 40 00:02:08,520 --> 00:02:11,880 Speaker 2: when we're investing. We are investing in companies, and there's kin, yes, 41 00:02:11,919 --> 00:02:14,000 Speaker 2: sences for where our money actually goes, right. 42 00:02:13,840 --> 00:02:16,160 Speaker 1: And it goes beyond just what is ethical and what 43 00:02:16,280 --> 00:02:19,079 Speaker 1: isn't ethical. And I've spoken about this with pretty much 44 00:02:19,120 --> 00:02:22,360 Speaker 1: every single client I have, But I think people assume 45 00:02:22,400 --> 00:02:26,440 Speaker 1: that when companies use words like green and ethical and 46 00:02:26,760 --> 00:02:30,040 Speaker 1: socially responsible and all of those words that you go, oh, 47 00:02:30,080 --> 00:02:31,760 Speaker 1: that must mean that they're a pretty good company. 48 00:02:31,880 --> 00:02:32,040 Speaker 2: Yep. 49 00:02:32,200 --> 00:02:35,360 Speaker 1: You would think that there's some kind of regulation around it, right, 50 00:02:35,760 --> 00:02:37,959 Speaker 1: just like if you pop into coals and you see 51 00:02:37,960 --> 00:02:41,760 Speaker 1: the organic section, like, you know, that's certified organic, and 52 00:02:41,800 --> 00:02:44,799 Speaker 1: in Australia there's this list of criteria that they need 53 00:02:44,840 --> 00:02:47,079 Speaker 1: to meet and prove that they've met so that they 54 00:02:47,120 --> 00:02:51,200 Speaker 1: can put that organic sticker on. In Australia, there's actually 55 00:02:51,240 --> 00:02:54,680 Speaker 1: no obligation when it comes to ethical investing to have 56 00:02:54,760 --> 00:02:58,200 Speaker 1: a certain criteria, and people just assume that when words 57 00:02:58,280 --> 00:03:03,200 Speaker 1: like green or Emerald portfolio are used, they must automatically 58 00:03:03,240 --> 00:03:07,000 Speaker 1: also be ethical because we would just assume, right, yes, 59 00:03:07,080 --> 00:03:10,200 Speaker 1: but it's not true. And it's really frustrating because so 60 00:03:10,280 --> 00:03:11,880 Speaker 1: many of us will say things like, yes, but I 61 00:03:11,919 --> 00:03:14,720 Speaker 1: chose the Emerald portfolio, so I'm a more ethical investor. 62 00:03:14,720 --> 00:03:16,359 Speaker 1: And I'm like, cool, well did you know that you've 63 00:03:16,360 --> 00:03:20,160 Speaker 1: got exposure to non ethical assets? And you'll go, what, no, 64 00:03:20,240 --> 00:03:23,000 Speaker 1: but I chose the ethical one. I'll be like no, no, no, Emerald, 65 00:03:23,120 --> 00:03:26,799 Speaker 1: they never said ethical. And if you look deeper into it, 66 00:03:26,880 --> 00:03:31,120 Speaker 1: some companies will use terms like emerald or socially responsible. 67 00:03:31,240 --> 00:03:33,959 Speaker 1: They won't actually ever use the term ethical because they're 68 00:03:33,960 --> 00:03:34,600 Speaker 1: a little. 69 00:03:34,320 --> 00:03:37,600 Speaker 2: Bit cheeky interesting. I mean like that, Just to like 70 00:03:37,680 --> 00:03:40,360 Speaker 2: take it back to the supermarket example, I guess you 71 00:03:40,400 --> 00:03:44,000 Speaker 2: know muslibars, eg, they're gonna say natural on them. They 72 00:03:44,000 --> 00:03:48,160 Speaker 2: could say one, you know, baked not fried whatever, and 73 00:03:48,240 --> 00:03:50,080 Speaker 2: all of those things do make us think that is 74 00:03:50,120 --> 00:03:53,240 Speaker 2: a great option. Exactly die organic Isle. 75 00:03:53,400 --> 00:03:55,880 Speaker 1: They might say no added refined sugars, but it's like 76 00:03:55,920 --> 00:03:57,800 Speaker 1: full of raw or something, and you'll be like, oh, 77 00:03:57,840 --> 00:03:59,680 Speaker 1: but it's got no refined yeagar. 78 00:04:00,160 --> 00:04:00,320 Speaker 2: Yeah. 79 00:04:00,320 --> 00:04:03,680 Speaker 1: It's really frustrating because it puts us in this position 80 00:04:03,720 --> 00:04:07,080 Speaker 1: where we have to second guess everything and we shouldn't 81 00:04:07,120 --> 00:04:08,520 Speaker 1: have to do that, but we are. 82 00:04:08,800 --> 00:04:09,760 Speaker 2: How good's marketing? 83 00:04:10,000 --> 00:04:10,640 Speaker 1: I love that. 84 00:04:10,880 --> 00:04:12,680 Speaker 2: We will get back to that a little bit later 85 00:04:12,720 --> 00:04:15,760 Speaker 2: on b But how do we actually go about figuring 86 00:04:15,840 --> 00:04:19,320 Speaker 2: out who is ethical and who isn't? Because my sense 87 00:04:19,360 --> 00:04:22,520 Speaker 2: is that companies probably won't have their homepage of their 88 00:04:22,520 --> 00:04:26,320 Speaker 2: website with a big we are unethical, please invest with us. 89 00:04:26,360 --> 00:04:28,760 Speaker 1: Oh no, I definitely do that. Yeah no, no, no, 90 00:04:28,800 --> 00:04:30,920 Speaker 1: they definitely don't, and no one's going to go hey gi, 91 00:04:31,120 --> 00:04:33,320 Speaker 1: So if you come and invest with us. We actually 92 00:04:33,360 --> 00:04:37,920 Speaker 1: prioritize mining. Will Yeah, we're kind of evil, we love gambling. 93 00:04:38,040 --> 00:04:41,080 Speaker 1: We actually are really into human trafficking, so come and 94 00:04:41,120 --> 00:04:44,919 Speaker 1: invest with us. Not true. Sadly, I really wish that 95 00:04:45,000 --> 00:04:47,960 Speaker 1: people had to disclose those things, kind of like, hey, 96 00:04:48,000 --> 00:04:51,720 Speaker 1: there's gluten in this or not. But you bang on. 97 00:04:51,960 --> 00:04:54,279 Speaker 1: We really need to do our research because there can 98 00:04:54,320 --> 00:04:57,080 Speaker 1: be this lack of transparency that makes it so hard 99 00:04:57,120 --> 00:04:59,840 Speaker 1: to figure out how a business operates. The other thing 100 00:05:00,120 --> 00:05:02,400 Speaker 1: we need to establish is what we're actually comfortable with 101 00:05:02,520 --> 00:05:05,480 Speaker 1: and what we're not comfortable investing in. So, for example, 102 00:05:05,560 --> 00:05:07,880 Speaker 1: some people would hate to invest in companies who exploit 103 00:05:07,920 --> 00:05:11,080 Speaker 1: their workers and animals, or who don't have a strong 104 00:05:11,120 --> 00:05:14,600 Speaker 1: female presence at the top. But maybe they're less passionate 105 00:05:14,640 --> 00:05:16,800 Speaker 1: about the environment, so they might not feel as bad 106 00:05:16,800 --> 00:05:20,360 Speaker 1: about investing in fossil fuels. So it can be quite personal, 107 00:05:20,440 --> 00:05:23,120 Speaker 1: and you need to work out what qualifies as ethical 108 00:05:23,200 --> 00:05:26,720 Speaker 1: to you, because there's not actually one definition. Before we 109 00:05:26,720 --> 00:05:28,800 Speaker 1: were recording this g we were sitting in my office 110 00:05:28,839 --> 00:05:31,919 Speaker 1: and we were talking about, you know, my experience with 111 00:05:32,040 --> 00:05:35,760 Speaker 1: clients and Zella is actually one hundred percent ethical investing. 112 00:05:35,880 --> 00:05:38,560 Speaker 1: So we don't invest in fossil fuels. We just don't 113 00:05:38,560 --> 00:05:42,560 Speaker 1: put it in client's portfolios because I genuinely believe that 114 00:05:42,640 --> 00:05:44,720 Speaker 1: it is not the way of the future. They are 115 00:05:44,720 --> 00:05:48,040 Speaker 1: not an unlimited resource. There are so many different ways 116 00:05:48,080 --> 00:05:50,560 Speaker 1: that we can have positive impacts on the planet. And 117 00:05:50,600 --> 00:05:52,800 Speaker 1: if I can put my clients in a position where 118 00:05:52,800 --> 00:05:55,720 Speaker 1: they are supporting the world and themselves at the same time, 119 00:05:55,800 --> 00:05:59,680 Speaker 1: I feel like I'm being an ethical and good financial advisor. 120 00:06:00,200 --> 00:06:02,960 Speaker 1: But I have this conversation with every client during their 121 00:06:03,000 --> 00:06:06,040 Speaker 1: fact find process. So we'll go through all of the questions, 122 00:06:06,040 --> 00:06:08,479 Speaker 1: the bland ones that compliance make us ask yeah, and 123 00:06:08,520 --> 00:06:10,480 Speaker 1: then all say at the end, what's your stance on 124 00:06:10,520 --> 00:06:13,560 Speaker 1: an ethical investing? They'll say, oh, yeah, I'm an ethical investor. 125 00:06:13,560 --> 00:06:17,359 Speaker 1: I'll be like, yes, g what's that mean to you specifically? Like, 126 00:06:17,520 --> 00:06:20,920 Speaker 1: let's talk about it. Are you talking about renewables, are 127 00:06:20,920 --> 00:06:24,159 Speaker 1: you talking about fossil fuels? Are we talking about animal products? 128 00:06:24,440 --> 00:06:24,560 Speaker 2: Like? 129 00:06:24,800 --> 00:06:26,880 Speaker 1: What is it? Is it gambling? Is it guns? 130 00:06:27,160 --> 00:06:27,280 Speaker 2: Like? 131 00:06:27,760 --> 00:06:30,359 Speaker 1: How does that actually impact you? And a lot of 132 00:06:30,400 --> 00:06:34,000 Speaker 1: people haven't actually thought about the semantics of what is included. 133 00:06:34,440 --> 00:06:38,040 Speaker 1: Because in the ASX Top two hundred, there are fossil fuels, 134 00:06:38,080 --> 00:06:41,200 Speaker 1: there is gambling, there is tobacco. There are things that 135 00:06:41,520 --> 00:06:45,080 Speaker 1: our country produces and invests in that you might not 136 00:06:45,160 --> 00:06:48,640 Speaker 1: agree with, and we actually have complete control over what 137 00:06:48,680 --> 00:06:51,200 Speaker 1: we invest in. So you might go to the Vanguard website, 138 00:06:51,240 --> 00:06:54,240 Speaker 1: for example, and look at one of their portfolios and going, oh, yeah, 139 00:06:54,360 --> 00:06:56,839 Speaker 1: I guess I want to buy this ETF. It's a 140 00:06:56,839 --> 00:06:59,520 Speaker 1: really good ETF. It's well known, but you know it's 141 00:06:59,520 --> 00:07:02,240 Speaker 1: got something I don't like, but my friend invest in it, 142 00:07:02,279 --> 00:07:05,160 Speaker 1: so I probably should. But they've got an ethical portfolio 143 00:07:05,160 --> 00:07:07,320 Speaker 1: as well. So I think it's really important to understand 144 00:07:07,360 --> 00:07:10,320 Speaker 1: that so many companies now have ethical options, but you 145 00:07:10,560 --> 00:07:13,480 Speaker 1: just have to look for them because often they are 146 00:07:13,520 --> 00:07:15,800 Speaker 1: slightly more expensive, and we'll get into this, and they 147 00:07:15,880 --> 00:07:20,000 Speaker 1: do often have slightly different returns. Albeit we'll get into 148 00:07:20,000 --> 00:07:22,360 Speaker 1: the stats of a little bit later because your stats girl, 149 00:07:22,760 --> 00:07:25,280 Speaker 1: and you've got some really great stats about the performance. 150 00:07:25,800 --> 00:07:28,280 Speaker 1: But back to me talking about my fact fine process 151 00:07:28,320 --> 00:07:30,320 Speaker 1: with clients. I had this chat with a client the 152 00:07:30,360 --> 00:07:32,000 Speaker 1: other day and I explained all of this, and I 153 00:07:32,000 --> 00:07:35,120 Speaker 1: was like, obviously, for me, being who I am, live 154 00:07:35,200 --> 00:07:39,240 Speaker 1: animal exports never ha no like hard no, like so 155 00:07:39,520 --> 00:07:42,320 Speaker 1: hard no, it makes me sick. But I said you 156 00:07:42,320 --> 00:07:44,360 Speaker 1: know that exists, arh rah, And she was like, yeah, 157 00:07:44,520 --> 00:07:46,120 Speaker 1: I don't want any of that, but I guess mainly 158 00:07:46,160 --> 00:07:47,800 Speaker 1: what I don't want is nukes. 159 00:07:48,080 --> 00:07:50,760 Speaker 2: What nukes do suck. To be fair to the. 160 00:07:50,760 --> 00:07:56,400 Speaker 1: Clients, like fair, I might just call my Russian friends 161 00:07:56,440 --> 00:07:59,680 Speaker 1: and say sorry about that investment, no longer going to 162 00:07:59,680 --> 00:08:03,520 Speaker 1: be able to make it. I've never actually invested in nukes, 163 00:08:03,560 --> 00:08:06,880 Speaker 1: but I'm glad to fully comprehend her values and what 164 00:08:07,000 --> 00:08:10,480 Speaker 1: she's up to. But that's why it's so important to ask, 165 00:08:10,760 --> 00:08:13,680 Speaker 1: because you don't know someone else's stance on ethical. You 166 00:08:13,720 --> 00:08:17,280 Speaker 1: don't know that they're a crazy vegan like me, who 167 00:08:17,320 --> 00:08:20,000 Speaker 1: you know, is obsessed with animals and you know, cares 168 00:08:20,000 --> 00:08:21,880 Speaker 1: a lot about the planet. They might just go yeah, 169 00:08:21,920 --> 00:08:25,320 Speaker 1: like I want to be ethical, but like love salami, Yeah, 170 00:08:25,360 --> 00:08:29,200 Speaker 1: you know, protrudos my favorite food. Great, no problems. Like, 171 00:08:29,240 --> 00:08:32,040 Speaker 1: We've all got different values, and that's what makes investing 172 00:08:32,120 --> 00:08:34,760 Speaker 1: so beautiful, because you can construct a portfolio that's really 173 00:08:34,920 --> 00:08:38,080 Speaker 1: reflective of your own personal values. And when I say 174 00:08:38,160 --> 00:08:40,560 Speaker 1: I believe in these things, it is by no way, 175 00:08:40,679 --> 00:08:43,600 Speaker 1: shape or form me pushing my personal beliefs on you, 176 00:08:43,679 --> 00:08:46,679 Speaker 1: saying well, gee, you have to in saying that I 177 00:08:46,760 --> 00:08:49,160 Speaker 1: genuinely don't believe that non renewalbles have a place in 178 00:08:49,240 --> 00:08:53,079 Speaker 1: investment portfolio is moving forward. That's my personal view. If 179 00:08:53,160 --> 00:08:55,480 Speaker 1: you don't like that, you don't actually have to be 180 00:08:55,559 --> 00:08:58,360 Speaker 1: my client, gotcha. It's a choice. If you align to 181 00:08:58,440 --> 00:09:01,400 Speaker 1: my values and you you buy into what I'm putting 182 00:09:01,440 --> 00:09:03,720 Speaker 1: on the table, cool, be my client. You don't like it, 183 00:09:03,760 --> 00:09:06,360 Speaker 1: that is absolutely fine. I have so many great financial 184 00:09:06,360 --> 00:09:08,120 Speaker 1: advisor friends I can refer you to. 185 00:09:08,440 --> 00:09:10,800 Speaker 2: So if we are wanting to invest in you know, 186 00:09:11,000 --> 00:09:15,199 Speaker 2: non nuke companies, Yeah, how do how do we find 187 00:09:15,240 --> 00:09:17,719 Speaker 2: that information? Or is it easier just to like go 188 00:09:17,760 --> 00:09:20,520 Speaker 2: to a financial advisor like yourself, so who like sends 189 00:09:20,559 --> 00:09:21,679 Speaker 2: it all up for you? Or do you look in 190 00:09:21,720 --> 00:09:22,400 Speaker 2: an your reports? 191 00:09:22,400 --> 00:09:24,360 Speaker 1: Like what does you coach? So you're right and your 192 00:09:24,360 --> 00:09:26,559 Speaker 1: reports are a good one. A good way of establishing 193 00:09:26,559 --> 00:09:28,760 Speaker 1: the ethics of the company that you're looking to invest 194 00:09:28,840 --> 00:09:30,920 Speaker 1: in is to actually take a look at that annual reports. 195 00:09:31,120 --> 00:09:34,600 Speaker 1: There's social impact reporting which will be in their annual reports, 196 00:09:34,640 --> 00:09:37,760 Speaker 1: which you can actually review pretty easily through resources like 197 00:09:37,840 --> 00:09:40,360 Speaker 1: Yahoo Finance. So I find that to be a really 198 00:09:40,400 --> 00:09:43,000 Speaker 1: solid resource because it's so easy to understand you can 199 00:09:43,040 --> 00:09:45,120 Speaker 1: just key some stuff in and we'll split it back out. 200 00:09:45,480 --> 00:09:49,080 Speaker 1: They provide sustainability ratings for a lot of Australian companies. 201 00:09:49,280 --> 00:09:51,360 Speaker 1: You can also just talk to your financial advisor. I 202 00:09:51,360 --> 00:09:54,000 Speaker 1: would ask in the she's on money community, because everybody's 203 00:09:54,040 --> 00:09:56,120 Speaker 1: got an opinion in there in the best of ways. 204 00:09:56,640 --> 00:09:59,520 Speaker 1: There are also resources out there like the Responsible Investment 205 00:09:59,520 --> 00:10:03,280 Speaker 1: Association of Australasia who have an Investment Finder tool which 206 00:10:03,280 --> 00:10:05,480 Speaker 1: helps you find funds that are aligned to your goals 207 00:10:05,520 --> 00:10:08,800 Speaker 1: and your ethical values. So there are lots of different 208 00:10:08,880 --> 00:10:12,040 Speaker 1: ways to go about this. In saying that we've said 209 00:10:12,040 --> 00:10:15,040 Speaker 1: this before, a financial advisor might not be the cheapest 210 00:10:15,080 --> 00:10:17,400 Speaker 1: of ways to go about it, but it might be 211 00:10:17,480 --> 00:10:21,120 Speaker 1: about finding options that are akin to what you're looking for. 212 00:10:21,160 --> 00:10:23,640 Speaker 1: So if you're looking for an ETF, start keying in 213 00:10:23,880 --> 00:10:26,920 Speaker 1: ethical ETF instead and just see what that's made up 214 00:10:26,960 --> 00:10:30,079 Speaker 1: of and see how it's constructed and built. And when 215 00:10:30,120 --> 00:10:31,920 Speaker 1: I say that, it does sound a little bit more complex, 216 00:10:31,960 --> 00:10:33,640 Speaker 1: and I promise you I'm not trying to be complex. 217 00:10:33,640 --> 00:10:36,480 Speaker 1: But when I say constructed, I mean what are the 218 00:10:36,520 --> 00:10:39,240 Speaker 1: companies in there, what's it made up of? And are 219 00:10:39,280 --> 00:10:42,640 Speaker 1: you going to review everyone individually or are you going 220 00:10:42,720 --> 00:10:45,760 Speaker 1: to go look at the portfolio manager. So something that 221 00:10:46,000 --> 00:10:48,840 Speaker 1: I do personally, and you know what, I'm not expecting 222 00:10:48,880 --> 00:10:51,880 Speaker 1: other people to do, but something I do is really 223 00:10:52,000 --> 00:10:56,880 Speaker 1: trace back the source ETF. Great, let's pretend it's called ETFA. 224 00:10:57,400 --> 00:10:58,959 Speaker 1: I'm going to go look at the companies in there 225 00:10:58,960 --> 00:11:01,040 Speaker 1: and go, yep, okay, that that kind of makes sense. 226 00:11:01,080 --> 00:11:04,560 Speaker 1: But why? And I want to understand who that manager is, 227 00:11:04,640 --> 00:11:07,200 Speaker 1: So who put together that ETF, what are they like, 228 00:11:07,520 --> 00:11:10,880 Speaker 1: where have they worked historically? And I think it's important 229 00:11:10,920 --> 00:11:13,800 Speaker 1: to understand them as well as it is your ETF. 230 00:11:14,280 --> 00:11:16,840 Speaker 1: It's quite a complex process and you absolutely don't have 231 00:11:16,880 --> 00:11:19,120 Speaker 1: to go through it, but our job G is to 232 00:11:19,120 --> 00:11:22,320 Speaker 1: give you as much education and options as possible to 233 00:11:22,400 --> 00:11:26,079 Speaker 1: make you feel confident with your investment journey. Probably also 234 00:11:26,120 --> 00:11:28,040 Speaker 1: a really good time to mention that we've got an 235 00:11:28,080 --> 00:11:30,400 Speaker 1: investment product coming out next month. 236 00:11:30,720 --> 00:11:31,440 Speaker 2: Tell us more. 237 00:11:31,679 --> 00:11:37,600 Speaker 1: I can't, but instead of having to see your financial advisor, 238 00:11:37,679 --> 00:11:40,439 Speaker 1: which obviously costs thousands of dollars, and I've tried to 239 00:11:40,440 --> 00:11:43,160 Speaker 1: be as transparent about that as possible, but obviously everybody's 240 00:11:43,160 --> 00:11:46,040 Speaker 1: situation is different. It's going to start at like nine 241 00:11:46,080 --> 00:11:49,560 Speaker 1: to ninety five for actual real life Advice plus construction 242 00:11:49,840 --> 00:11:52,880 Speaker 1: nine dollars ninety five, nine dollars ninety five. Mmmm. Yeah, 243 00:11:53,080 --> 00:11:56,760 Speaker 1: I'm so excited. Is good. I'm not meant to be 244 00:11:56,800 --> 00:11:59,880 Speaker 1: talking about it, and sorry to tear it if he's listening. Sorry, 245 00:11:59,880 --> 00:12:00,320 Speaker 1: so sorry. 246 00:12:00,640 --> 00:12:04,040 Speaker 2: All right, Yeah, let's move on. Impact investing. That's something 247 00:12:04,080 --> 00:12:06,040 Speaker 2: that came up a lot in my guest search as 248 00:12:06,200 --> 00:12:09,760 Speaker 2: pre show. Is that the same as ethical investing, No, sir. 249 00:12:09,960 --> 00:12:14,520 Speaker 1: Impact investing is basically a more proactive way of ethically investing. 250 00:12:14,920 --> 00:12:18,480 Speaker 1: So it's taking it another step further. Instead of saying 251 00:12:18,840 --> 00:12:21,480 Speaker 1: I just don't want those things in my portfolio, just 252 00:12:21,520 --> 00:12:25,280 Speaker 1: don't have them, you're actively sorting out things that can 253 00:12:25,360 --> 00:12:28,840 Speaker 1: have a positive impact moving forward. So where ethical investing 254 00:12:28,920 --> 00:12:31,680 Speaker 1: might see you avoiding companies who work with fossil fuels 255 00:12:31,760 --> 00:12:35,680 Speaker 1: or they're exploiting their workers, impact investing goes that step 256 00:12:35,720 --> 00:12:39,520 Speaker 1: further and sees you actively contributing to organizations or projects 257 00:12:39,640 --> 00:12:43,320 Speaker 1: or funds which generate measurable change in the environmental and 258 00:12:43,360 --> 00:12:46,480 Speaker 1: social space, which I think is really exciting. And again, 259 00:12:46,720 --> 00:12:50,400 Speaker 1: only you can decide what that means, because your impact 260 00:12:50,440 --> 00:12:53,280 Speaker 1: is yours alone, if that makes sense, So like I 261 00:12:53,400 --> 00:12:57,839 Speaker 1: might go, oh, my gosh, I adore children. I really 262 00:12:57,880 --> 00:13:01,160 Speaker 1: want to support them. So for me, assets that aligned 263 00:13:01,240 --> 00:13:04,920 Speaker 1: to supporting that value is more along lines of impact 264 00:13:04,960 --> 00:13:08,880 Speaker 1: investing as opposed to avoidant, which is when you're ethical 265 00:13:08,960 --> 00:13:11,720 Speaker 1: and just avoiding things that you know aren't positive. 266 00:13:11,880 --> 00:13:13,920 Speaker 2: Yeah, oh that's really interesting. 267 00:13:14,000 --> 00:13:14,440 Speaker 1: It's fun. 268 00:13:14,720 --> 00:13:17,160 Speaker 2: Is that Is that a big space? Is it popular? 269 00:13:17,600 --> 00:13:20,800 Speaker 1: Massive? It is massive because at the end of the day, 270 00:13:21,360 --> 00:13:23,480 Speaker 1: we always say put your money where your mouth is right, 271 00:13:23,960 --> 00:13:27,120 Speaker 1: and like, obviously a dollar can't change the world. But 272 00:13:27,160 --> 00:13:29,839 Speaker 1: if we all started aligning our investments to what we 273 00:13:30,000 --> 00:13:33,920 Speaker 1: truly believed in instead of just going yep, cool, that'll work. 274 00:13:34,280 --> 00:13:37,120 Speaker 1: Like we can have measurable change. We can start changing 275 00:13:37,120 --> 00:13:39,160 Speaker 1: the world. And I think that's really cool. It's like, 276 00:13:39,600 --> 00:13:42,400 Speaker 1: you know, doing something for future you and future. 277 00:13:42,120 --> 00:13:45,040 Speaker 2: Buying it kinda cool, kind of cool, kind of cool. 278 00:13:45,160 --> 00:13:46,640 Speaker 2: Sidestep here, Vickid. 279 00:13:47,080 --> 00:13:48,040 Speaker 1: I love that name for me. 280 00:13:48,520 --> 00:13:53,000 Speaker 2: I know you do so amazing. Love that we're supporting 281 00:13:53,080 --> 00:13:56,920 Speaker 2: the planet, looking to the future, helping the kids, ditching 282 00:13:56,960 --> 00:13:57,680 Speaker 2: the nukes. 283 00:13:58,040 --> 00:14:00,360 Speaker 1: Absolutely. I mean, you guys have to take this grain 284 00:14:00,400 --> 00:14:02,600 Speaker 1: of salt because I am that person that has a 285 00:14:02,679 --> 00:14:06,320 Speaker 1: keep cup, doesn't like eating animals, you know, has a 286 00:14:06,360 --> 00:14:09,679 Speaker 1: million pets like just you know, everything that we say, 287 00:14:09,720 --> 00:14:11,679 Speaker 1: and I've said this before needs to be taken with 288 00:14:11,760 --> 00:14:13,880 Speaker 1: grain of salt because your opinion is yours alone, and 289 00:14:13,920 --> 00:14:18,040 Speaker 1: that's really beautiful. My opinion obviously on a podcast doesn't 290 00:14:18,080 --> 00:14:20,480 Speaker 1: mean it is the right thing for you either. I 291 00:14:20,520 --> 00:14:23,160 Speaker 1: think that's important to preface right. Like you like different 292 00:14:23,160 --> 00:14:26,280 Speaker 1: things than I like, vice versa doesn't mean that I 293 00:14:26,400 --> 00:14:28,960 Speaker 1: have to accept it. But it's so nice to know 294 00:14:29,040 --> 00:14:31,520 Speaker 1: that other people have different opinions and they can follow 295 00:14:31,680 --> 00:14:33,920 Speaker 1: their goals and their values and that's cool. 296 00:14:34,160 --> 00:14:37,560 Speaker 2: Absolutely a lot of people listening to this podcast, though, 297 00:14:37,640 --> 00:14:40,440 Speaker 2: v they're here to make money, to look after our 298 00:14:40,520 --> 00:14:45,440 Speaker 2: cash money, correct, So what are the impacts of ethical 299 00:14:45,480 --> 00:14:48,800 Speaker 2: investing on our finances? Are we seeing good returns from it? 300 00:14:48,920 --> 00:14:51,040 Speaker 2: Or is it just so poor? But like, at least 301 00:14:51,240 --> 00:14:53,480 Speaker 2: we've done the good things, so I. 302 00:14:53,440 --> 00:14:57,040 Speaker 1: Think historically people have always thought that ethical investing might 303 00:14:57,080 --> 00:15:00,920 Speaker 1: not have as high returns, and it's been some somewhat true. 304 00:15:01,320 --> 00:15:04,440 Speaker 1: And the reason it's been somewhat true is ethical investing 305 00:15:04,520 --> 00:15:07,720 Speaker 1: is more expensive. And the reason it is is because 306 00:15:08,120 --> 00:15:11,440 Speaker 1: usually those companies are more ethical therefore have higher fees 307 00:15:11,480 --> 00:15:15,600 Speaker 1: associated higher you know, costs over their head. Because let's 308 00:15:15,600 --> 00:15:18,720 Speaker 1: give a good example. We buy a T shirt, that 309 00:15:18,840 --> 00:15:22,160 Speaker 1: t shirt is made in Australia from people who are 310 00:15:22,160 --> 00:15:24,840 Speaker 1: being paid award rates. That's going to be cheaper than 311 00:15:24,880 --> 00:15:26,960 Speaker 1: the T shirt you buy online for two dollars because 312 00:15:26,960 --> 00:15:29,760 Speaker 1: it was made in a sweatshop overseas. Right, So when 313 00:15:29,800 --> 00:15:33,680 Speaker 1: it comes to ethical investing, there are higher costs associated 314 00:15:34,080 --> 00:15:37,640 Speaker 1: in saying that the returns more recently they've been great, 315 00:15:38,000 --> 00:15:40,840 Speaker 1: they've been fantastic. You kind of do put a little 316 00:15:40,840 --> 00:15:42,720 Speaker 1: bit more on the table when it comes to fees, 317 00:15:43,320 --> 00:15:46,400 Speaker 1: but that all kind of balances out with good returns 318 00:15:46,440 --> 00:15:49,800 Speaker 1: and knowing that your money is actually performing well and 319 00:15:49,920 --> 00:15:55,320 Speaker 1: also impacting the planet positively according to actually the RIAA's 320 00:15:55,440 --> 00:15:58,560 Speaker 1: twenty twenty benchmark reports. So that is the Responsible Investment 321 00:15:58,600 --> 00:16:02,440 Speaker 1: Association of Osdrolation, which I mentioned before. Over the past three, 322 00:16:02,560 --> 00:16:06,840 Speaker 1: five and ten year periods, Australian responsible investment funds have 323 00:16:06,960 --> 00:16:12,360 Speaker 1: outperformed mainstream investment funds. So by ethically investing, you're definitely 324 00:16:12,400 --> 00:16:15,320 Speaker 1: not throwing away your financial future, which is probably a 325 00:16:15,320 --> 00:16:17,680 Speaker 1: perception that a lot of us out there have because 326 00:16:17,680 --> 00:16:19,720 Speaker 1: you go, all right, well, if you're compromising something you're 327 00:16:19,720 --> 00:16:22,240 Speaker 1: obviously going to lose, but you're not. It's positive for 328 00:16:22,320 --> 00:16:26,080 Speaker 1: everybody involved, But I also want it. This is my gripe, 329 00:16:26,160 --> 00:16:28,040 Speaker 1: right and I've had this ranch in the office before, 330 00:16:28,040 --> 00:16:29,760 Speaker 1: and I know this isn't new for you to hear. 331 00:16:30,440 --> 00:16:35,240 Speaker 1: I get so frustrated when people say, oh, it's compared 332 00:16:35,280 --> 00:16:41,200 Speaker 1: to the benchmark. Okay, what is the benchmark? Who set that? 333 00:16:41,520 --> 00:16:44,960 Speaker 1: What is that benchmark made up of? And more often 334 00:16:45,000 --> 00:16:48,080 Speaker 1: than not, it's made up of the AX Top two hundred, 335 00:16:48,240 --> 00:16:50,920 Speaker 1: which is the two hundred companies in Australia that are 336 00:16:50,960 --> 00:16:55,360 Speaker 1: like best performing, etc. But why are we comparing a 337 00:16:55,560 --> 00:16:59,960 Speaker 1: ethical portfolio made up of renewables and things that are 338 00:17:00,120 --> 00:17:02,760 Speaker 1: great for the future and things that are going to 339 00:17:02,800 --> 00:17:05,720 Speaker 1: be far more sustainable in the long term to oil 340 00:17:05,880 --> 00:17:09,200 Speaker 1: and tobacco and gambling and things that we don't agree with. 341 00:17:09,280 --> 00:17:12,280 Speaker 1: Like that's like comparing apples with oranges, And to me, 342 00:17:12,440 --> 00:17:15,479 Speaker 1: it really frustrates me that a lot of the time, 343 00:17:15,880 --> 00:17:21,200 Speaker 1: the benchmark for ethical investing and the performance indicators will 344 00:17:21,200 --> 00:17:24,600 Speaker 1: be compared to that of non ethical investing, and that 345 00:17:24,760 --> 00:17:27,800 Speaker 1: is not fair. So it's like comparing our friend Chloe Molloy, 346 00:17:27,840 --> 00:17:30,000 Speaker 1: who's actually your friend. I just really like her. She's 347 00:17:30,000 --> 00:17:33,560 Speaker 1: an AFLW players Chloe, Yeah, shout out to her. But 348 00:17:33,560 --> 00:17:36,800 Speaker 1: it's like comparing her to a tennis player and expecting 349 00:17:36,880 --> 00:17:40,119 Speaker 1: that her performance would meet their criteria when at the 350 00:17:40,240 --> 00:17:42,760 Speaker 1: end of the day, they have a completely separate way 351 00:17:42,840 --> 00:17:45,800 Speaker 1: of measuring performance and success about whether you're winning the 352 00:17:45,840 --> 00:17:48,480 Speaker 1: game or not versus hers. Because HER's a team sport, 353 00:17:48,480 --> 00:17:51,719 Speaker 1: that's an individual sport. There are so many differences, and 354 00:17:51,760 --> 00:17:54,720 Speaker 1: I think it's really unfair to compare the two because 355 00:17:54,720 --> 00:17:57,640 Speaker 1: it's apples with oranges. Yeah, you're right, they're both sports. 356 00:17:57,920 --> 00:18:01,720 Speaker 1: They're completely different though, so thank you. So I think 357 00:18:01,760 --> 00:18:05,400 Speaker 1: it's really unfair to compare ethical investing to non ethical 358 00:18:05,440 --> 00:18:08,760 Speaker 1: investing and then use the non ethical investing benchmark to 359 00:18:08,760 --> 00:18:12,480 Speaker 1: be like Ohun's set love Like no, sorry, we kick goals, 360 00:18:12,600 --> 00:18:15,040 Speaker 1: Like what are you talking about? So I think it's 361 00:18:15,119 --> 00:18:18,840 Speaker 1: just really important to understand. That's where my frustration comes from. 362 00:18:19,000 --> 00:18:21,640 Speaker 1: I don't know if other people share this frustration. Maybe 363 00:18:21,720 --> 00:18:24,160 Speaker 1: it's just me. But to summarize all of this, yes, 364 00:18:24,200 --> 00:18:26,359 Speaker 1: you're right, ethical investing has had great performance over the 365 00:18:26,440 --> 00:18:27,040 Speaker 1: last few years. 366 00:18:27,080 --> 00:18:29,440 Speaker 2: That was the best speel I've ever heard. You are 367 00:18:30,160 --> 00:18:31,280 Speaker 2: was it about. 368 00:18:30,960 --> 00:18:32,359 Speaker 1: Yes, did it make sense? 369 00:18:33,000 --> 00:18:38,040 Speaker 2: Set Love, we kick goals? That was standing well, but. 370 00:18:38,040 --> 00:18:40,480 Speaker 1: It kind of makes sense, right, And I think I 371 00:18:40,520 --> 00:18:43,280 Speaker 1: get so frustrated when people are like, yeah, but it's 372 00:18:43,320 --> 00:18:45,280 Speaker 1: all investing. I'm like, yeah, okay, well it's all sport. 373 00:18:45,920 --> 00:18:48,800 Speaker 1: Like can you imagine telling a footy player that you 374 00:18:48,880 --> 00:18:51,600 Speaker 1: were comparing them to a tennis player. There'll be off 375 00:18:52,040 --> 00:18:55,480 Speaker 1: makes no sense, So we're not going to do it, Love, Okay, good, 376 00:18:55,560 --> 00:18:56,280 Speaker 1: what's your next question? 377 00:18:56,320 --> 00:19:00,320 Speaker 2: Happy with that, Let's move on. So other platforms their 378 00:19:00,400 --> 00:19:02,800 Speaker 2: v that make it easier or funds out there that 379 00:19:02,840 --> 00:19:05,719 Speaker 2: make it easier for us to be investing ethically. So 380 00:19:05,840 --> 00:19:09,600 Speaker 2: in the group, for example, Raises Emerald account comes up 381 00:19:09,720 --> 00:19:12,360 Speaker 2: time and time again. People are like, yep, I'm doing 382 00:19:12,400 --> 00:19:13,879 Speaker 2: this because I'm doing the right thing for the environment 383 00:19:13,920 --> 00:19:14,720 Speaker 2: of the planet, etc. 384 00:19:15,240 --> 00:19:18,399 Speaker 1: Yeah thoughts, ah, yeah, this is what I was talking 385 00:19:18,440 --> 00:19:20,720 Speaker 1: about before in a nonallusic way. I didn't know you 386 00:19:20,720 --> 00:19:22,520 Speaker 1: were actually going to call it out. But it's true. 387 00:19:22,640 --> 00:19:27,960 Speaker 1: Let's clarify here that Raises Emerald account is not actually 388 00:19:28,000 --> 00:19:32,359 Speaker 1: an ethical account. It is a socially responsible account. And 389 00:19:32,400 --> 00:19:36,320 Speaker 1: at no point have they ever ever told us anything otherwise. 390 00:19:36,520 --> 00:19:39,240 Speaker 1: We've just assumed, right, So they've got their normal accounts, 391 00:19:39,280 --> 00:19:42,199 Speaker 1: then they've got their emerald that must be the ethical one, right. Gee. 392 00:19:42,400 --> 00:19:45,119 Speaker 1: So there's a little bit of green washing going on there, 393 00:19:45,160 --> 00:19:46,960 Speaker 1: and I'll get into that a little bit later, because 394 00:19:47,000 --> 00:19:50,800 Speaker 1: green washing makes me mad. As you know, green washing 395 00:19:50,880 --> 00:19:53,600 Speaker 1: is something that we all need to be very aware 396 00:19:53,640 --> 00:19:55,840 Speaker 1: of because it happens time and time again. And that's 397 00:19:55,880 --> 00:19:58,000 Speaker 1: what I was referring to earlier when I said they're 398 00:19:58,080 --> 00:20:01,240 Speaker 1: using terms like socially responsible and emerald or it might 399 00:20:01,280 --> 00:20:03,800 Speaker 1: be a green portfolio, and everybody's just trying to make 400 00:20:03,840 --> 00:20:06,120 Speaker 1: it seem a lot more ethical than it is, when 401 00:20:06,160 --> 00:20:09,320 Speaker 1: in reality they are still supporting life animal export and 402 00:20:09,400 --> 00:20:12,439 Speaker 1: that makes me mad. So when it comes to what 403 00:20:12,640 --> 00:20:16,919 Speaker 1: socially responsible investing is in comparison to ethical we've already 404 00:20:16,960 --> 00:20:20,600 Speaker 1: defined that socially responsible investing can often be thought of 405 00:20:20,640 --> 00:20:23,560 Speaker 1: as like a philosophy to invest in, where investors make 406 00:20:23,600 --> 00:20:26,159 Speaker 1: a conscious effort to invest in companies that align with 407 00:20:26,200 --> 00:20:30,680 Speaker 1: their ethical ideologies. So it's not they're one hundred percent ethical, 408 00:20:30,720 --> 00:20:33,119 Speaker 1: but they're like throwing around these terms that kind of 409 00:20:33,119 --> 00:20:36,880 Speaker 1: make you think ethical. Right, Yeah, good marketing, great marketing, 410 00:20:36,920 --> 00:20:40,280 Speaker 1: perfect copywriting. Love that for them, But a common example 411 00:20:40,440 --> 00:20:43,040 Speaker 1: is not investing in companies that promote or produce products 412 00:20:43,080 --> 00:20:46,639 Speaker 1: that are related to addictive substances, right like tobacco or gambling, 413 00:20:46,760 --> 00:20:49,320 Speaker 1: But they might still invest in other things that don't 414 00:20:49,320 --> 00:20:51,640 Speaker 1: make sense. So for me, I think it's just so 415 00:20:51,720 --> 00:20:54,840 Speaker 1: important to understand what you are getting yourself into and 416 00:20:54,920 --> 00:20:58,960 Speaker 1: not just assuming that it means that it's just really good. 417 00:20:59,440 --> 00:21:01,760 Speaker 2: So I don't get it. So what does what are 418 00:21:01,760 --> 00:21:04,240 Speaker 2: they saying with their social responsibility? Because I was looking 419 00:21:04,240 --> 00:21:06,840 Speaker 2: at their website before and I was like, it seems 420 00:21:06,880 --> 00:21:10,960 Speaker 2: like it's ethical, Like, as you said, their copywriting was magical, 421 00:21:11,080 --> 00:21:14,800 Speaker 2: great marketing, but I really couldn't discern what they're actually 422 00:21:15,400 --> 00:21:17,040 Speaker 2: what they do with that Emerald account. 423 00:21:17,240 --> 00:21:19,440 Speaker 1: So more often than not, Like, don't get me wrong, 424 00:21:19,480 --> 00:21:21,159 Speaker 1: a lot of the companies that they do have in 425 00:21:21,200 --> 00:21:24,920 Speaker 1: that portfolio are what I would deem to be somewhat ethical. 426 00:21:25,280 --> 00:21:28,240 Speaker 1: But I think that the important thing here is ethics 427 00:21:28,760 --> 00:21:34,080 Speaker 1: to me really really transcends not just what their business 428 00:21:34,119 --> 00:21:38,080 Speaker 1: promotes or produces, but also how they treat their workers 429 00:21:38,280 --> 00:21:40,600 Speaker 1: and if they pay award rates or not, or if 430 00:21:40,640 --> 00:21:44,040 Speaker 1: they have overseas employees that they're not treating as well, 431 00:21:44,320 --> 00:21:47,240 Speaker 1: so it kind of goes deeper than that. But then 432 00:21:47,359 --> 00:21:51,280 Speaker 1: on top of that, those big companies often have their 433 00:21:51,320 --> 00:21:55,360 Speaker 1: own investment portfolios. So would you be comfortable if I said, hey, 434 00:21:55,400 --> 00:21:59,919 Speaker 1: G so company a ethical so great. They're a BCorp company, 435 00:22:00,040 --> 00:22:02,960 Speaker 1: which means they are you know, chef's kiss, chef's kiss. 436 00:22:03,000 --> 00:22:06,080 Speaker 1: They are chef's kiss. But also they have an investment 437 00:22:06,119 --> 00:22:08,719 Speaker 1: portfolio and it's made up of gambling and tobacco and 438 00:22:08,760 --> 00:22:10,320 Speaker 1: things like that. Like, are they still a thickle? 439 00:22:11,400 --> 00:22:11,720 Speaker 2: Okay? 440 00:22:11,840 --> 00:22:15,320 Speaker 1: If they're generating returns from those things and pulling that 441 00:22:15,359 --> 00:22:17,800 Speaker 1: into their business, feel about that? I would say, no exactly. 442 00:22:17,840 --> 00:22:20,720 Speaker 1: But shouldn't you know that? Shouldn't you be told that 443 00:22:20,880 --> 00:22:23,000 Speaker 1: without having to do the deep dive that I do 444 00:22:23,119 --> 00:22:24,960 Speaker 1: as a psychotic financial advisor? 445 00:22:25,320 --> 00:22:25,600 Speaker 2: Right? 446 00:22:26,160 --> 00:22:28,640 Speaker 1: Shouldn't we just be told that instead of like, oh, 447 00:22:28,720 --> 00:22:31,320 Speaker 1: they're such a great business rarah. And to be honest, 448 00:22:31,320 --> 00:22:33,800 Speaker 1: I'm pretty sure to become a B corp company you 449 00:22:33,840 --> 00:22:36,119 Speaker 1: actually can't invest in those things. So maybe that's a 450 00:22:36,160 --> 00:22:38,840 Speaker 1: faux par on my behalf. It's just an example I'm using, 451 00:22:39,320 --> 00:22:42,959 Speaker 1: But yeah, it's interesting what they're made up of and 452 00:22:43,000 --> 00:22:44,240 Speaker 1: how that actually works. 453 00:22:44,600 --> 00:22:46,760 Speaker 2: Why is the world like this? Why can't it all 454 00:22:46,760 --> 00:22:47,480 Speaker 2: just be easy? 455 00:22:47,720 --> 00:22:50,280 Speaker 1: Mate? I don't know. I don't make the rules. 456 00:22:51,400 --> 00:22:53,200 Speaker 2: With that vey. I think it is time for a 457 00:22:53,200 --> 00:22:55,960 Speaker 2: little bit of a break. But don't you worry, guys. 458 00:22:56,000 --> 00:22:59,919 Speaker 2: We will be back to chat ethics and super greenwashing. 459 00:23:00,000 --> 00:23:02,200 Speaker 2: We're going to tap back into that and we will 460 00:23:02,240 --> 00:23:04,960 Speaker 2: be discussing whether it's unethical for us not to be 461 00:23:05,119 --> 00:23:19,320 Speaker 2: investing ethically. Stick around friends, alrighty, be hugely passionate show today. 462 00:23:19,000 --> 00:23:19,959 Speaker 1: And you know how I'm at. 463 00:23:20,000 --> 00:23:24,199 Speaker 2: We have hugely passionate conversations on our Facebook group, on 464 00:23:24,240 --> 00:23:26,720 Speaker 2: our YouTube account. Do there but newsletter? 465 00:23:26,880 --> 00:23:29,280 Speaker 1: You can tell I'm mad about this episode because I'm 466 00:23:29,320 --> 00:23:31,800 Speaker 1: actually talking a lot faster than I usually do. So 467 00:23:31,840 --> 00:23:34,400 Speaker 1: I'm really sorry, but I'm also kind of mad. 468 00:23:35,160 --> 00:23:38,480 Speaker 2: There's a lot to be mad about. To start off 469 00:23:38,480 --> 00:23:41,560 Speaker 2: this second half of the show. V Lord, talk to 470 00:23:41,640 --> 00:23:45,560 Speaker 2: us about superannuation. Is that something we can be doing ethically? 471 00:23:45,680 --> 00:23:49,879 Speaker 1: Okay, so great question. And you, my friends, have so 472 00:23:50,119 --> 00:23:53,680 Speaker 1: much control over your superannuation. There are lots of ethical 473 00:23:53,720 --> 00:23:56,080 Speaker 1: super funds emerging and at the moment, it is so 474 00:23:56,400 --> 00:23:59,120 Speaker 1: exciting to see this happening because I think it's helping 475 00:23:59,200 --> 00:24:02,200 Speaker 1: us put more of a priority on actually caring about 476 00:24:02,200 --> 00:24:04,560 Speaker 1: our superannuation because that now is something that we can 477 00:24:04,720 --> 00:24:07,560 Speaker 1: align to our values and our ethics and watch and 478 00:24:07,600 --> 00:24:09,919 Speaker 1: track and be excited about and stuff, and like, I 479 00:24:10,000 --> 00:24:11,879 Speaker 1: just feel like I don't have that much control over it. 480 00:24:12,000 --> 00:24:15,400 Speaker 1: 't worry about it later. Again, not all are created equally, 481 00:24:15,440 --> 00:24:17,479 Speaker 1: so you do need to do your research into what 482 00:24:17,560 --> 00:24:20,720 Speaker 1: they actually invest in. And some of the major players 483 00:24:20,760 --> 00:24:23,080 Speaker 1: in this space, I'm not going and be naming names 484 00:24:23,119 --> 00:24:25,000 Speaker 1: here because I do not think that that is there. 485 00:24:25,320 --> 00:24:27,879 Speaker 1: They wouldn't align to my goals and values for a 486 00:24:28,080 --> 00:24:31,679 Speaker 1: number of reasons. Right, So first would be price. So 487 00:24:32,000 --> 00:24:35,120 Speaker 1: being ethical, yes it might cost you a little bit more, 488 00:24:35,119 --> 00:24:38,359 Speaker 1: but it shouldn't cost you significantly more. And I do 489 00:24:38,600 --> 00:24:40,879 Speaker 1: genuinely think maybe we should get into this as another 490 00:24:40,920 --> 00:24:43,479 Speaker 1: episode because I do think that there are some super 491 00:24:43,480 --> 00:24:46,760 Speaker 1: players out there at the moment who are taking the 492 00:24:46,840 --> 00:24:50,639 Speaker 1: mickey in a way to make sure that you know 493 00:24:51,040 --> 00:24:53,199 Speaker 1: you're like, oh great, I'm now with super fun to 494 00:24:53,440 --> 00:24:55,480 Speaker 1: X because they're ethical and they're run by women, and 495 00:24:55,480 --> 00:24:59,080 Speaker 1: they're for women. I'm sorry, why super for women? All 496 00:24:59,119 --> 00:25:02,000 Speaker 1: of a sudden, Like, should I not just have access 497 00:25:02,000 --> 00:25:05,880 Speaker 1: to the same investment portfolios and man has access to 498 00:25:05,880 --> 00:25:09,560 Speaker 1: to create my financial future. Like, what is different about 499 00:25:09,720 --> 00:25:11,960 Speaker 1: gendered super funds? What's that? 500 00:25:12,480 --> 00:25:13,040 Speaker 2: What is that? 501 00:25:13,160 --> 00:25:15,000 Speaker 1: I don't know what that is, but it makes me 502 00:25:15,200 --> 00:25:18,679 Speaker 1: angry because it's kind of like, sorry, investments actually completely 503 00:25:18,840 --> 00:25:22,119 Speaker 1: not gendered. Yes, I'm I guess speaking from a position 504 00:25:22,119 --> 00:25:24,439 Speaker 1: where I am the face of sheese on the money, 505 00:25:24,680 --> 00:25:28,920 Speaker 1: but I'm not here saying that we need female specific products. 506 00:25:28,960 --> 00:25:31,760 Speaker 1: And it's kind of like the pink tax. I genuinely 507 00:25:31,800 --> 00:25:34,879 Speaker 1: think they're putting a pink tax on a superproduct to 508 00:25:34,960 --> 00:25:37,440 Speaker 1: make it look more appealing and look a little bit 509 00:25:37,440 --> 00:25:40,600 Speaker 1: more friendly rhen. In reality, it's going to impact you 510 00:25:40,720 --> 00:25:43,159 Speaker 1: worse because you're paying more fees and there's still the 511 00:25:43,240 --> 00:25:44,600 Speaker 1: gender pay gap, gotcha. 512 00:25:44,680 --> 00:25:48,159 Speaker 2: So they're kind of capitalizing on exactly, and they're making 513 00:25:48,200 --> 00:25:49,639 Speaker 2: you feel a little bit more. 514 00:25:49,520 --> 00:25:51,680 Speaker 1: Comfortable because you're like, oh, but it's female run and 515 00:25:51,800 --> 00:25:54,040 Speaker 1: lead and it's built for me. It's like, well, why 516 00:25:54,080 --> 00:25:56,280 Speaker 1: wouldn't any other super fun to be built for you 517 00:25:56,359 --> 00:25:59,240 Speaker 1: with your priorities in mind? If we're being brutally. 518 00:25:59,000 --> 00:26:03,680 Speaker 2: Honest, interesting, maybe we should do an episode We will 519 00:26:03,720 --> 00:26:06,479 Speaker 2: because I may agree, yeah, and I think, well, that 520 00:26:06,840 --> 00:26:08,399 Speaker 2: really does come as a surprise to me, and I 521 00:26:08,440 --> 00:26:11,680 Speaker 2: hadn't thought about that. I know who you were talking about, yep. Yeah, 522 00:26:11,720 --> 00:26:15,560 Speaker 2: and it's not hard to know. It's not talking about interesting, no. 523 00:26:15,680 --> 00:26:18,720 Speaker 1: And it also really frustrates me because I look at 524 00:26:18,720 --> 00:26:21,400 Speaker 1: these companies and that's why I'm not naming names, because 525 00:26:21,400 --> 00:26:23,440 Speaker 1: it's genuinely not fair for me to do that at 526 00:26:23,440 --> 00:26:25,560 Speaker 1: this point. But I look at these companies and a 527 00:26:25,600 --> 00:26:28,639 Speaker 1: lot of their branding is around women and supporting women. 528 00:26:28,880 --> 00:26:32,000 Speaker 1: But then also if you get deep down into it, 529 00:26:32,000 --> 00:26:34,440 Speaker 1: it's like, you don't you don't support women, Like, you're 530 00:26:34,480 --> 00:26:36,439 Speaker 1: not making this cheaper for us, You're not making this 531 00:26:36,560 --> 00:26:39,879 Speaker 1: easier for us. You've just got a beautiful like beautiful branding, 532 00:26:40,000 --> 00:26:44,199 Speaker 1: great marketing, fantastic copywriting. But I just genuinely look at 533 00:26:44,200 --> 00:26:45,600 Speaker 1: it and I go, that's a bit icky to me. 534 00:26:45,720 --> 00:26:46,919 Speaker 1: That that gives me the ick. 535 00:26:46,880 --> 00:26:50,520 Speaker 2: George H once again. Why is the world like this? 536 00:26:50,720 --> 00:26:52,720 Speaker 1: I don't know. But I also just get really mad 537 00:26:52,720 --> 00:26:54,840 Speaker 1: about it, and I feel like now we have got 538 00:26:54,880 --> 00:26:57,040 Speaker 1: cheese on the money, everybody can get mad about it 539 00:26:57,200 --> 00:26:58,760 Speaker 1: and we can make a change for the better. 540 00:26:58,880 --> 00:27:03,000 Speaker 2: Fantastic stuff come okay, back to greenwashing, Yes, I really 541 00:27:03,040 --> 00:27:06,119 Speaker 2: ademic added dedicated part of the show to talk about it, 542 00:27:06,160 --> 00:27:08,879 Speaker 2: even though it has infiltrated the chat earlier. Sorry, that 543 00:27:09,119 --> 00:27:13,520 Speaker 2: is fine. How is greenwashing impacting the share market? 544 00:27:14,000 --> 00:27:16,760 Speaker 1: So it's pretty good for brand to promote your efforts 545 00:27:16,800 --> 00:27:20,960 Speaker 1: in sustainability, social justice and animal rights because people like 546 00:27:21,040 --> 00:27:23,440 Speaker 1: to hear that the brands that they're aligning themselves where 547 00:27:23,440 --> 00:27:25,439 Speaker 1: they're doing good in the world and actually having a 548 00:27:25,440 --> 00:27:28,800 Speaker 1: positive impact because of this. Lots of brands, as you 549 00:27:28,840 --> 00:27:31,879 Speaker 1: mentioned earlier, George, have capitalized on this and they're making 550 00:27:31,920 --> 00:27:35,800 Speaker 1: the most of these quote green labels to enhance their reputations. 551 00:27:36,160 --> 00:27:41,080 Speaker 1: This really frustrates me beyond belief. So similarly, some companies 552 00:27:41,119 --> 00:27:44,120 Speaker 1: are starting to do the same with some quote ethical funds, 553 00:27:44,240 --> 00:27:46,120 Speaker 1: which when we actually look at the frame print, they're 554 00:27:46,160 --> 00:27:48,480 Speaker 1: not as ethical as we'd assumed they actually would be 555 00:27:48,680 --> 00:27:51,120 Speaker 1: or expected from those businesses. 556 00:27:51,400 --> 00:27:54,960 Speaker 2: Which makes us very frustrated. This gives me the uhha. 557 00:27:55,520 --> 00:27:59,080 Speaker 2: But how then, how do we cut through that jargon, 558 00:27:59,359 --> 00:28:00,640 Speaker 2: cut through them getting jump? 559 00:28:00,720 --> 00:28:02,200 Speaker 1: How do we do it? How do we do it? 560 00:28:02,200 --> 00:28:04,480 Speaker 1: It's a very good question, and I wish it was 561 00:28:04,560 --> 00:28:07,800 Speaker 1: easier than it actually is. But essentially, what we need 562 00:28:07,800 --> 00:28:09,760 Speaker 1: to do is be aware, We need to know that 563 00:28:09,840 --> 00:28:12,840 Speaker 1: a lot of people aren't privy to marketing tactics. So 564 00:28:13,119 --> 00:28:15,560 Speaker 1: just being conscious that some companies will try and present 565 00:28:15,600 --> 00:28:19,199 Speaker 1: themselves as ethical or green when really they're not is 566 00:28:19,400 --> 00:28:22,480 Speaker 1: really important. And that's why I'm so passionate about understanding 567 00:28:22,480 --> 00:28:25,439 Speaker 1: how to read a PDS. So PDS is a product 568 00:28:25,440 --> 00:28:27,919 Speaker 1: disclosure statement, and you don't need to read the whole thing. 569 00:28:27,960 --> 00:28:30,359 Speaker 1: It is a very long, very wordy Usually the words 570 00:28:30,359 --> 00:28:33,600 Speaker 1: are extra small, so like at least ten point texts 571 00:28:33,640 --> 00:28:35,880 Speaker 1: like they're never like twelve times in your Roman, really 572 00:28:35,920 --> 00:28:38,560 Speaker 1: easy to read, like say, like they just don't make 573 00:28:38,600 --> 00:28:41,880 Speaker 1: it easy. They make it look really overwhelming. I'm convinced, 574 00:28:41,920 --> 00:28:44,680 Speaker 1: and this is this has absolutely no credibility to it. 575 00:28:44,720 --> 00:28:48,360 Speaker 1: This statement is probably wildly inaccurate, but I'm convinced the 576 00:28:48,440 --> 00:28:51,120 Speaker 1: smaller the text, the more intimidating it looks to read. 577 00:28:51,160 --> 00:28:52,960 Speaker 1: So therefore you're more likely to not read it. 578 00:28:53,040 --> 00:28:54,680 Speaker 2: Oh something, Yeah for sure. 579 00:28:54,760 --> 00:28:57,000 Speaker 1: Yeah, so that's what they're doing with PDS is But 580 00:28:57,200 --> 00:28:59,360 Speaker 1: that is where you're going to find the nitty gritty 581 00:28:59,360 --> 00:29:03,040 Speaker 1: of what they who gets paid what to have that investment? 582 00:29:03,120 --> 00:29:05,920 Speaker 1: There where it was picked from what the fees are, 583 00:29:06,000 --> 00:29:08,880 Speaker 1: what the additional fees are because you can't just rely 584 00:29:09,000 --> 00:29:13,240 Speaker 1: on the website to say, oh, it's ten dollars great. Oh, 585 00:29:13,280 --> 00:29:15,040 Speaker 1: and by the way, there's an admin fee of two dollars, 586 00:29:15,080 --> 00:29:17,560 Speaker 1: and then there's an administration fee which is different to 587 00:29:17,600 --> 00:29:20,160 Speaker 1: the admin fee that's fifty cents every single day. And 588 00:29:20,200 --> 00:29:23,480 Speaker 1: then it blows out and you didn't know. But then 589 00:29:23,520 --> 00:29:25,320 Speaker 1: if you question them, they'll be like, oh, but it 590 00:29:25,360 --> 00:29:27,800 Speaker 1: was in our terms and conditions you agreed to this, 591 00:29:28,680 --> 00:29:30,760 Speaker 1: Like oh, but they were tiny and I didn't want 592 00:29:30,800 --> 00:29:32,880 Speaker 1: to read them. I get it, but we need to 593 00:29:32,960 --> 00:29:34,920 Speaker 1: learn to read these and this is where we need 594 00:29:34,960 --> 00:29:36,720 Speaker 1: to learn to just scan them. And I guess it's 595 00:29:36,760 --> 00:29:38,400 Speaker 1: a bit high mighty of me to saying, oh, we 596 00:29:38,440 --> 00:29:40,239 Speaker 1: need to learn to read them, and I haven't shown you. 597 00:29:40,280 --> 00:29:42,479 Speaker 1: So maybe I'll do like an Instagram story of something, 598 00:29:42,800 --> 00:29:45,240 Speaker 1: just going hey, cool, this is how I do it 599 00:29:45,560 --> 00:29:49,840 Speaker 1: and TLDR. Usually I just use control F, so I 600 00:29:49,920 --> 00:29:53,200 Speaker 1: look up fees and just control F type in fees, 601 00:29:53,240 --> 00:29:56,600 Speaker 1: and then in the pds PDF, because that's a mouthful, 602 00:29:56,960 --> 00:29:59,080 Speaker 1: it will then come up with fees and I'll go 603 00:29:59,120 --> 00:30:01,160 Speaker 1: straight to that part of the document to read it. 604 00:30:01,600 --> 00:30:03,800 Speaker 1: And I'm obviously crazy, you know, I do read it 605 00:30:03,800 --> 00:30:06,240 Speaker 1: back to front. But I think if you know someone 606 00:30:06,280 --> 00:30:09,120 Speaker 1: who's not a financial advisor is looking at it, they 607 00:30:09,120 --> 00:30:11,320 Speaker 1: should really do that and look up what it's actually 608 00:30:11,320 --> 00:30:13,400 Speaker 1: constructed of and why they've made that decision. 609 00:30:13,720 --> 00:30:14,400 Speaker 2: That's a good hack. 610 00:30:14,480 --> 00:30:18,280 Speaker 1: Following on from that and my rant about PDFPDSS on 611 00:30:18,320 --> 00:30:20,920 Speaker 1: a larger level, there definitely needs to be tied a 612 00:30:21,000 --> 00:30:23,320 Speaker 1: regulation in this space, and there needs to be a 613 00:30:23,360 --> 00:30:26,560 Speaker 1: standardized version of what qualifies as ethical, Like what I 614 00:30:26,560 --> 00:30:28,880 Speaker 1: was saying before about the organic thing, like why can't 615 00:30:28,880 --> 00:30:31,480 Speaker 1: we just implement something like that. That's if you meet 616 00:30:31,520 --> 00:30:34,160 Speaker 1: all of these criteria, you get the little badge and 617 00:30:34,440 --> 00:30:36,360 Speaker 1: people can look for the badge and they can feel 618 00:30:36,440 --> 00:30:39,840 Speaker 1: confident in the asset that they're purchasing. Instead of companies 619 00:30:39,840 --> 00:30:42,040 Speaker 1: and funds just being able to give people the impression 620 00:30:42,160 --> 00:30:46,160 Speaker 1: that they're ethical with sneaky advertising. That frustrates me beyond belief. 621 00:30:46,520 --> 00:30:48,920 Speaker 1: So put simply, for the time being, we really just 622 00:30:48,960 --> 00:30:50,920 Speaker 1: need to be doing our research and asking a lot 623 00:30:50,960 --> 00:30:51,520 Speaker 1: of questions. 624 00:30:51,760 --> 00:30:55,400 Speaker 2: There should be like an ethical stamp like that. 625 00:30:55,480 --> 00:30:58,440 Speaker 1: Yeah, organic one, right, Like you can't use organic in 626 00:30:58,480 --> 00:31:01,280 Speaker 1: Australia unless you've met that criteria. You don't use pesticides 627 00:31:01,320 --> 00:31:02,800 Speaker 1: and you don't do this, and you don't do that 628 00:31:02,840 --> 00:31:04,320 Speaker 1: and all of that other fun stuff. 629 00:31:04,720 --> 00:31:07,320 Speaker 2: Do you know you might not be able to answer this, 630 00:31:07,400 --> 00:31:10,480 Speaker 2: but is that a space that is improving and people 631 00:31:10,520 --> 00:31:12,640 Speaker 2: working to they are? 632 00:31:13,040 --> 00:31:15,080 Speaker 1: I think they are, But it's very hard to make 633 00:31:15,120 --> 00:31:19,800 Speaker 1: it transparent when the share market encompasses so many different 634 00:31:19,840 --> 00:31:25,600 Speaker 1: companies and asset classes, and it breaches into international investments 635 00:31:25,680 --> 00:31:27,959 Speaker 1: and it's a very complex space. 636 00:31:28,200 --> 00:31:30,200 Speaker 2: Yeah, which, yeah, that makes sense as to why it's 637 00:31:30,200 --> 00:31:32,360 Speaker 2: not regular and the international stuff. 638 00:31:32,400 --> 00:31:34,600 Speaker 1: It's kind of like, let's just compare Cobs and Wollies 639 00:31:34,600 --> 00:31:37,320 Speaker 1: for a second. It's like, great, they're two supermarkets, but 640 00:31:37,360 --> 00:31:39,959 Speaker 1: then Audi comes into play and they all have different 641 00:31:40,000 --> 00:31:42,560 Speaker 1: business models. Are we asking them to then change their 642 00:31:42,680 --> 00:31:44,360 Speaker 1: entire business models to be similar? 643 00:31:44,480 --> 00:31:44,720 Speaker 2: Yeah? 644 00:31:44,920 --> 00:31:46,040 Speaker 1: Is that fair? Is that? 645 00:31:46,200 --> 00:31:46,280 Speaker 2: Like? 646 00:31:46,360 --> 00:31:47,920 Speaker 1: How do we do that? How do we eat? 647 00:31:47,960 --> 00:31:49,080 Speaker 2: Yank? It's a big chat. 648 00:31:49,160 --> 00:31:51,840 Speaker 1: It's big chat we can't have today. 649 00:31:51,960 --> 00:31:56,720 Speaker 2: Yeah, Okay, last question for you here, and I'm excited 650 00:31:56,760 --> 00:32:01,840 Speaker 2: for your answer. Is it unethical for us not to 651 00:32:01,960 --> 00:32:03,360 Speaker 2: invest ethically? 652 00:32:03,680 --> 00:32:05,840 Speaker 1: That's a hard question to answer. 653 00:32:05,960 --> 00:32:08,200 Speaker 2: It's a hard question to ask. It was quite a mouthful. 654 00:32:08,320 --> 00:32:10,760 Speaker 1: Yeah, Well that's why it was hard not because if 655 00:32:10,760 --> 00:32:14,160 Speaker 1: there responds around yeah, sorry, I think it's definitely personal preference. 656 00:32:14,200 --> 00:32:16,400 Speaker 1: There's no right, there's no wrong. I don't think it's 657 00:32:16,440 --> 00:32:18,160 Speaker 1: a bad thing if people are like, yep, but that 658 00:32:18,200 --> 00:32:20,960 Speaker 1: aligns to my values. Like I'm someone who just wants 659 00:32:21,000 --> 00:32:23,280 Speaker 1: you to be happy and have all the options available 660 00:32:23,320 --> 00:32:25,200 Speaker 1: to you. And if you've looked into it and you said, nah, 661 00:32:25,280 --> 00:32:28,080 Speaker 1: like I'm still here, like cool, Like I really really 662 00:32:28,120 --> 00:32:30,640 Speaker 1: genuinely don't mind. I wouldn't be so harsh as to 663 00:32:30,640 --> 00:32:32,720 Speaker 1: say that, as a lot of people just don't fully 664 00:32:32,800 --> 00:32:35,840 Speaker 1: understand what they're investing in, so I can't make a judgment. 665 00:32:35,960 --> 00:32:38,360 Speaker 1: I can't, I can't pass judgment because it is not 666 00:32:38,520 --> 00:32:41,160 Speaker 1: my place. My place is to educate you on what 667 00:32:41,280 --> 00:32:44,280 Speaker 1: options exist. I will share my opinion and what I do. 668 00:32:44,360 --> 00:32:46,160 Speaker 1: But if you came to me and said, hey, all 669 00:32:46,200 --> 00:32:48,480 Speaker 1: I invest in is BHP, I'd be like, all power 670 00:32:48,560 --> 00:32:52,000 Speaker 1: to Yeah great, I don't mind at all, because that's 671 00:32:52,040 --> 00:32:55,360 Speaker 1: your choice and your values. And as a person who 672 00:32:55,720 --> 00:32:59,720 Speaker 1: genuinely believes deeply in understanding people's values, it's not my 673 00:32:59,720 --> 00:33:01,400 Speaker 1: place to put mine on you. 674 00:33:01,720 --> 00:33:07,240 Speaker 2: Good episode today V to recap we've learned ethical investing 675 00:33:07,400 --> 00:33:10,160 Speaker 2: is a great way of aligning your financial decisions with 676 00:33:10,280 --> 00:33:13,480 Speaker 2: your values. It also means you can make an amazing return, 677 00:33:13,560 --> 00:33:16,520 Speaker 2: which is a huge money win. And we do need 678 00:33:16,560 --> 00:33:18,800 Speaker 2: to be really mindful of greenwashing. I feel like that's 679 00:33:18,800 --> 00:33:21,760 Speaker 2: the main theme of today's episode, because sometimes companies and 680 00:33:21,800 --> 00:33:24,120 Speaker 2: funds can be a little bit naughty and not be 681 00:33:24,240 --> 00:33:27,320 Speaker 2: transparent in this space. Hopefully that's changing, but sounds like 682 00:33:27,360 --> 00:33:29,800 Speaker 2: it's going to be a long, hard road for that 683 00:33:29,840 --> 00:33:30,280 Speaker 2: to happen. 684 00:33:30,400 --> 00:33:31,440 Speaker 1: I would agree. V. 685 00:33:31,720 --> 00:33:34,120 Speaker 2: I think that is all we have time for today. 686 00:33:34,000 --> 00:33:36,320 Speaker 1: Okay, but just before we head off, we'd like to 687 00:33:36,320 --> 00:33:39,520 Speaker 1: acknowledge and pay respect to Australia's Aboriginal and torrest Ray 688 00:33:39,560 --> 00:33:43,400 Speaker 1: Islander people's, the traditional custodians of the lands, the waterways 689 00:33:43,400 --> 00:33:46,320 Speaker 1: and the skies all across Australia. We thank you for 690 00:33:46,360 --> 00:33:48,479 Speaker 1: sharing and for caring for the land which we are 691 00:33:48,520 --> 00:33:51,560 Speaker 1: able to learn. We pay respects to eldest past and present, 692 00:33:51,600 --> 00:33:53,840 Speaker 1: and we share our friendship and to our kindness. 693 00:33:54,000 --> 00:33:56,320 Speaker 2: The advice shared on Cheese on the Money is general 694 00:33:56,400 --> 00:34:00,240 Speaker 2: in nature and does not consider your individual circumstances. She's 695 00:34:00,280 --> 00:34:03,480 Speaker 2: on the Money exists purely for educational purposes and should 696 00:34:03,480 --> 00:34:05,520 Speaker 2: not be relied upon to make an investment or a 697 00:34:05,560 --> 00:34:09,799 Speaker 2: financial decision, and we promise. Victoria Devine is an authorized 698 00:34:09,840 --> 00:34:14,479 Speaker 2: representative of Australia Pacific Funds Management Proprietor Limited ABN three 699 00:34:14,520 --> 00:34:17,719 Speaker 2: four one three two four six Street five seven AFOSL 700 00:34:17,840 --> 00:34:21,120 Speaker 2: three three nine one five one. And a big thank 701 00:34:21,160 --> 00:34:23,520 Speaker 2: you to our big team of audio engineers. 702 00:34:23,640 --> 00:34:25,680 Speaker 1: Yeah you said it weird that it just used to be. 703 00:34:25,719 --> 00:34:27,520 Speaker 1: You and I are sitting on the floor in one 704 00:34:27,520 --> 00:34:30,360 Speaker 1: of my spare bedrooms and now we say things like 705 00:34:30,560 --> 00:34:34,640 Speaker 1: audio engineers and producers know over weird Flex, We're growing, 706 00:34:34,880 --> 00:34:39,040 Speaker 1: We're excited wed Flex weird Flex. If you love today's chat, 707 00:34:39,080 --> 00:34:41,320 Speaker 1: we would absolutely love to hear about it, So slide 708 00:34:41,320 --> 00:34:44,040 Speaker 1: into our DMS, leave us a review, rate us however 709 00:34:44,040 --> 00:34:47,200 Speaker 1: many stars you think we are worthy of on apples, 710 00:34:47,560 --> 00:34:51,080 Speaker 1: subscribe on Spotify. I think there's been some not so 711 00:34:51,200 --> 00:34:55,040 Speaker 1: nice commentary around, just people thinking we're annoying recently. 712 00:34:55,440 --> 00:34:57,320 Speaker 2: I mean they're not wrong to be flo. 713 00:34:57,480 --> 00:34:59,200 Speaker 1: And you know, like I'm happy for this to be 714 00:34:59,200 --> 00:35:00,839 Speaker 1: in the podcast. Do you know I don't read our 715 00:35:00,880 --> 00:35:04,000 Speaker 1: podcast reviews because I genuinely think if you're not willing 716 00:35:04,040 --> 00:35:06,640 Speaker 1: to put your name to a review, because a lot 717 00:35:06,680 --> 00:35:09,440 Speaker 1: of it's like anonymous goal nine nine nine. You're like, 718 00:35:09,680 --> 00:35:12,360 Speaker 1: if you can't put your name to review, cool, but 719 00:35:12,520 --> 00:35:14,320 Speaker 1: if you want to take the time to email me, 720 00:35:14,560 --> 00:35:17,240 Speaker 1: I will absolutely take that on and try my hardest 721 00:35:17,280 --> 00:35:20,040 Speaker 1: to make sure that our podcast helps you in every 722 00:35:20,080 --> 00:35:23,080 Speaker 1: single way possible. But my dad does read the reviews 723 00:35:23,080 --> 00:35:25,120 Speaker 1: and then he calls AND's like, oh my gosh, you're okay. 724 00:35:25,280 --> 00:35:27,120 Speaker 1: I'm like, Dad, I didn't even read that, but I 725 00:35:27,160 --> 00:35:28,920 Speaker 1: didn't see it, But thank you for bringing it to 726 00:35:28,960 --> 00:35:29,480 Speaker 1: my attention. 727 00:35:30,560 --> 00:35:32,279 Speaker 2: If you do have to Daddy, ded if you do 728 00:35:32,360 --> 00:35:34,080 Speaker 2: have feedback for the show, guys. 729 00:35:33,880 --> 00:35:36,920 Speaker 1: Where podcast at She's on the money dot com dot au, 730 00:35:37,200 --> 00:35:39,360 Speaker 1: we are always open to it, and to be honest, 731 00:35:39,400 --> 00:35:41,799 Speaker 1: I try and take it on wherever possible. Obviously, feel 732 00:35:41,800 --> 00:35:44,520 Speaker 1: like Victory's voice is annoying. Sorry, I can't do a 733 00:35:44,520 --> 00:35:47,200 Speaker 1: lot about that. Oh je King also annoying. Yeah, sorry 734 00:35:47,239 --> 00:35:49,160 Speaker 1: about that. But I think it's really important to just 735 00:35:49,239 --> 00:35:51,400 Speaker 1: point out like we're just two girls who are genuinely 736 00:35:51,400 --> 00:35:54,000 Speaker 1: passionate about financial literacy, trying to do the right thing 737 00:35:54,120 --> 00:35:56,279 Speaker 1: and trying to grow our community because we want to 738 00:35:56,400 --> 00:36:00,439 Speaker 1: change financial literacy in Australia. It's not us going, oh, okay, cool, 739 00:36:00,480 --> 00:36:03,440 Speaker 1: we have a podcast, like, we genuinely believe in this, 740 00:36:03,520 --> 00:36:06,120 Speaker 1: and we know given the size of our community now, 741 00:36:06,280 --> 00:36:08,319 Speaker 1: but we're having an impact and that's so cool. 742 00:36:08,360 --> 00:36:12,239 Speaker 2: Georgia absolutely, and sorry to anyone who complains about my life. 743 00:36:12,239 --> 00:36:14,400 Speaker 2: I feel like that's probably in the reviews that I 744 00:36:14,400 --> 00:36:15,120 Speaker 2: don't read, is it. 745 00:36:15,239 --> 00:36:18,000 Speaker 1: Nah, don't read the reviews. Don't read the reviews. Anyway, 746 00:36:18,160 --> 00:36:20,759 Speaker 1: we will see you on fridayyy by