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

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

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Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka Nian our gay

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Speaker 1: in Nimbina, yakarum Jar Dominyamiga Umagahawaka Woman Damon Imlan Bumba

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Speaker 1: ban Gadabomba in and now in wakah Ghana on yak

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Speaker 1: rum Jar water Nadaa. Hello, beautiful friends, we gather on

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

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Speaker 1: respect the Abiginal people's land that we're gathering on today.

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Speaker 1: Take pleasure in all the land and respect all that

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Speaker 1: you see. She's on the Money podcast acknowledges culture, country,

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Speaker 1: community and connections, bringing you the tools, knowledge and resources

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Speaker 1: for you to thrive.

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

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

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Speaker 2: here to show you that investing isn't just for the rich,

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Speaker 2: It's for you too. I'm your host, Victoria Devine, and today,

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Speaker 2: as you can probably hear, we are doing something a

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Speaker 2: little bit different. You our incredible. She's on the Money.

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Speaker 2: Community are always sliding into our dms asking to get

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Speaker 2: pervy on the money diries of the She's on the

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Speaker 2: money team, and today I finally have a volunteer. Yay,

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Speaker 2: volunteer attribute save you same, but instead of the usual

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Speaker 2: money tea, We're going to dive into something even juicy.

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Speaker 2: We are going to do an investing diary because our

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Speaker 2: volunteer is not just I would say a very valued

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Speaker 2: member of our social media and courses team. She calls

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Speaker 2: herself the head of good course department.

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Speaker 1: Yep.

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Speaker 2: She also is a very experienced investor who's been building

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Speaker 2: her portfolio for years and has a lot of wisdom.

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Speaker 2: Is that what we're going to call it? Over sold?

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Speaker 2: So I always over sold? But Brook Green, welcome to

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Speaker 2: the show. Not the government name name, it's what was

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Speaker 2: on zero when I looked you up to CHECKO was

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Speaker 2: my name?

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Speaker 1: Yeah?

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Speaker 2: Yes, Brook Green, welcome to the shout. I'm very excited

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Speaker 2: to have you here. You have been on the show before,

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Speaker 2: so this season your first time. The last time you

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Speaker 2: were on our show was in New York. It was

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Speaker 2: indeed in New York. It was a sleepless, delirious time.

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Speaker 2: I don't even remember what we were speaking about.

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Speaker 3: I remember exactly like it was yesterday. We're talking about

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Speaker 3: mcgriddle's things that were expensive in America and.

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Speaker 2: The met griddle is now in austray it's now an

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Speaker 2: Australia and a pumpkin spice latte love laugh. So for

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Speaker 2: those in our community who might not have met you

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Speaker 2: through social media, can you tell us what do you

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Speaker 2: do at she's on the money and like, why do

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Speaker 2: you do it at she's on the money?

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Speaker 3: Oh well, one time I posted TikTok saying and got

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Speaker 3: made redundant and you slid into my DMS and said

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Speaker 3: do you want a job?

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Speaker 2: And I started working with was the opportunity of a lifetime,

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Speaker 2: I know, and I've been here for a while now.

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Speaker 3: It's some old furniture. I do some of the socials.

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Speaker 3: There's two people in the socials team and are you

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Speaker 3: in Georgia yet? Me and Georgia my work wife.

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Speaker 2: Sorry to my partner, but he knows, he's quite aware,

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Speaker 2: he's aware.

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Speaker 3: But we do all of the content together. I do

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Speaker 3: mainly the video stuff and some blogs and stuff, and

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Speaker 3: then courses and all that jazz. Anytime you sign up

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Speaker 3: for a course. The process I've made and unfortunately if

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Speaker 3: it goes wrong, it's probably my fault.

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Speaker 2: And if you see like a diabolical meme or now

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Speaker 2: the intern. Yeah, usually if we're blaming the intern, it's me,

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Speaker 2: it's usually Brook. So talk to me, actually, don't talk

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Speaker 2: to me. Let me do a little bit of a disclaimer,

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Speaker 2: because unfortunately this is not financial advice. We're not giving advice.

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Speaker 2: As much as lots of us want to be more

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Speaker 2: like Brook, you shouldn't be copying Brook. Well, past performance

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Speaker 2: is not a reliable pretty through a future performance. And

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Speaker 2: if we're going to talk about your investing journey, I

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Speaker 2: don't want them going, oh my god, you bought what

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Speaker 2: and when and where and then like because you can't

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Speaker 2: buy it when I bought it, exactly unless you've got

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Speaker 2: a time machine in which you like if you do,

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Speaker 2: you no, but like, also, you just copy Brook, you'd

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Speaker 2: be really rich. It probably won't be really rich because

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Speaker 2: I'm not, guys, I'm trying to sell this to the community. Yes, yes,

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Speaker 2: very much. I had to get a tribute on the show.

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Speaker 2: I'm here. Okay, thank you. So let's get into the

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Speaker 2: advice after we've done our disclaim of like not taking

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Speaker 2: her advice. So Brooke you've been investing for I would

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Speaker 2: say quite a while, Like, way before you join shees

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Speaker 2: on the money, could you give me a little bit

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Speaker 2: of background. How did you even get into investing and

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Speaker 2: what were you doing at the time.

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Speaker 3: So I was working in mining because I'm from Perth,

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Speaker 3: so if you're a Perth girly, you probably understand that law.

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Speaker 3: But I was working in mining as a receptionist and

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Speaker 3: I was very excited because I'd say my first ten

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Speaker 3: thousand dollars and I was talking.

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Speaker 2: About it with my work colleagues.

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Speaker 3: I was going to buy a house because in my head,

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Speaker 3: ten thousand dollars was enough to get a house deposit. Wrong,

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Speaker 3: still don't own a house. But one of the accountants

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Speaker 3: was like, oh, well, you shouldn't buy a house. That's

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Speaker 3: going to be a waste of your money because you're

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Speaker 3: so young. Put the ten k in index funds and

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Speaker 3: call it today. You'll be well better off. And I

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Speaker 3: looked at him, like at Index water work. And then

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Speaker 3: I went home and I googled Index ones still had

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Speaker 3: no idea what any of it meant. And then I

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Speaker 3: decided to fall down the rabbit hole of Reddit read

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Speaker 3: everything there was to know about index ones and thought, oh,

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Speaker 3: that's really cool, but I'm not doing that because that's

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Speaker 3: really scary. And then I joined a million and one subreddits,

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Speaker 3: including the financial Independence retire Early subreddit and realizing people

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Speaker 3: were retiring at like forty because they were investing in

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Speaker 3: ETFs and index ones. And I was like, well, be me,

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Speaker 3: I too don't want to work until i'm sixty, so

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Speaker 3: I shall do this. And then I bought my first

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Speaker 3: ETF and it was the scariest moment in my life.

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Speaker 2: And then it wasn't that scary. I feel like, once

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Speaker 2: you rip the band aid off and you do it, oh,

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Speaker 2: was that it? Yeah? Tell me you would you identify

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Speaker 2: as a financial independent retires early guy? Do want to

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Speaker 2: do that?

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Speaker 1: Like?

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Speaker 3: Technically I worked out if I continue investing the same

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Speaker 3: way that I am now, technically I could.

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Speaker 2: Retire at thirty five.

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Speaker 3: And I know that that's probably not going to happen

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Speaker 3: because I do like to spend money, but if I did,

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Speaker 3: sticking with a plan, it would be possible, but it

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Speaker 3: probably won't happen.

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Speaker 2: But that's okay. And to give people a little bit

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Speaker 2: of context, how old are you now?

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Speaker 3: I'm twenty six. She's not thirty four. Actually when this

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Speaker 3: episode comes out, I'll be twenty seven.

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Speaker 2: Oh that's quite intimidating. I think that's really exciting, and

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Speaker 2: I want people to know that it's entirely possible. I

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Speaker 2: would say that you probably don't come across as a

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Speaker 2: financially independent retire early kind of early, but that's because

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Speaker 2: we lack nice things, yes, but also you do invest

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Speaker 2: most of your income, yes, because I'm scared of being broke. Yeah,

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Speaker 2: so talk to me about you went down a rabbit

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Speaker 2: hole of jumping on Reddit getting into what they were

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Speaker 2: getting into. But now what do you invest in personally?

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Speaker 2: Can you walk us through, like what strategy you have?

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Speaker 3: Yes, I have prepared it earlier because I think it's

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Speaker 3: better to have the facts. I am a bit crazy

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Speaker 3: when I come some money, so I obviously work here,

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Speaker 3: but I also have a summit hustle as well doing

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Speaker 3: social media, and so all of my social media money

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Speaker 3: I put in either savings are investing, and then my

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Speaker 3: actual work income. I still invest it. Anytime I've got

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Speaker 3: to pay rise, I just add that to the investing.

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Speaker 3: So I invest roughly six hundred fifty dollars a week,

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Speaker 3: but I dollar cost average, so for me, it makes

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Speaker 3: some most sense to actually invest every two weeks, so

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Speaker 3: thirteen hundred dollars every fortnight, and it is all divided

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Speaker 3: into a portfolio, which I it's reoccurring, and then it

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Speaker 3: will rebalance automatically, and it just based on whatever the

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Speaker 3: lowest share is that I need to get to the

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Speaker 3: correct percentage. So at the moment, my investing split is, oh,

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Speaker 3: I can't tell you the exact numbers. I can't do maths,

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Speaker 3: but it's probably fifty percent of my portfolio would be VDHG,

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Speaker 3: then VTS, VEU, vas ACDC, QUOAL ROBOO, and Berkshire Hathaway

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Speaker 3: b Okay.

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Speaker 2: So let's talk about that a bit more because a

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Speaker 2: lot of like I got that, and a few giralies

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Speaker 2: in our community would have been like slay, great, hold on,

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Speaker 2: let's just wa to these random lessons. Can we go

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Speaker 2: back and write all of those down? I hurt a

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Speaker 2: lot of ease. Yes, So let's start there. I love

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Speaker 2: a anger, You love a banger. I do love a anger.

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Speaker 2: Talk to me, why was that kind of like the

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Speaker 2: first place you invested? Because I feel like for our community,

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Speaker 2: obviously we're talking oh platform and they go, oh, great,

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Speaker 2: like maybe Chasy's, maybe Pella maybe whatever. Yeah, and then

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Speaker 2: the next conversation is with what am I buying? Yah,

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Speaker 2: I would say, especially I know the most popular ETF

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Speaker 2: in Australia is Vanguard ETF. Yep. Is that just why

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Speaker 2: you went with it? Talk me through?

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Speaker 1: No.

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Speaker 3: So a lot of the financial independence retire early movement

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Speaker 3: is all about finding like one or two ETF it

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Speaker 3: really makes sense for your portfolio, and then just.

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Speaker 2: Going hell to leather at that.

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Speaker 3: So the first one that stuck out to me that

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Speaker 3: made the most sense to me after all my research

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Speaker 3: was VDHG. So that was the first ETF that I bought.

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Speaker 3: I put like five k in to that, and then

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Speaker 3: it's he grew over time and I was like, okay,

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Speaker 3: well that makes sense, let's continue doing that. And before

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Speaker 3: I had more information, I just maintained that strategy because

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Speaker 3: it is really diversified. And then as I got a

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Speaker 3: bit more experience and read nine investing books in two

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Speaker 3: weeks one time long story, short Investing master Class, Don't

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Speaker 3: ask questions, I.

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Speaker 2: Then like the Investing master Class was our crowdsource. The

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Speaker 2: money Community Team was two weeks of my life. But

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Speaker 2: I'm so sorry I made you do that. It was fine.

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Speaker 2: I was like, fact check me. Yeah, it was a lot.

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Speaker 3: And then I was like, okay, well, I kind of

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Speaker 3: want to change my strategy a little bit to make

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Speaker 3: sure the risk was weighted. But a lot of my

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Speaker 3: ETFs a banger because I like the structure. I also

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Speaker 3: like that it's a massive company and I don't have

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Speaker 3: risk of it shutting down tomorrow because everyone invests with them.

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Speaker 2: So like it makes sense. So that's kind of suck

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Speaker 2: it safe. Yeah, and Brooke has been using I would say,

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Speaker 2: the acronyms, but those are called ticker codes. So if

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Speaker 2: you want to know more, because I'm not going to

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Speaker 2: sit here and go, oh, tell me about this et

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Speaker 2: that right high growth fund exactly, But if you want

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Speaker 2: to google them and learn a lot more about that ETF,

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Speaker 2: you can do that and then pick one that aligns

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Speaker 2: to your strategy and your values, because you might look

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Speaker 2: at it and go, oh, I don't want to hold

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Speaker 2: those things, or I really like that that makes sense.

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Speaker 2: Brooks a genius, So you to make your own decisions.

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Speaker 2: Talk to me about direct shares. You said a few

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Speaker 2: at the end, yep, why when where? How like you've

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Speaker 2: gone from being in the fire community, which generally want

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Speaker 2: to invest in ets and they don't believe in direct investing.

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Speaker 2: You're doing that talk, Yeah, So I like to.

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Speaker 3: Dabble because I'm bored, and I give myself five percent

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Speaker 3: of my portfolio to have fun with it. But they're

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Speaker 3: mostly not, like all my auto invest is with like Perla,

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Speaker 3: and then I most of my direct shares are American,

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Speaker 3: and that's because I find American culture really interesting. So

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Speaker 3: I have Berkshire Hathway B, which is technically a direct share,

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Speaker 3: but it is also like an ETF, which is Orren

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Speaker 3: Buffett's company, and we did a whole episode on here, Yeah,

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Speaker 3: we did girl Boss. And then a lot of my

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Speaker 3: other direct shares like Tesla, Apple, Google, which is Alphabet

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Speaker 3: and all those kind of companies. I doabble with those

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Speaker 3: because I only pretty much invest in companies that I

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Speaker 3: believe are going to exist in twenty years time. I

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Speaker 3: invest a lot in the tech sector because I think

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Speaker 3: like way Mo and things like that are just going

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Speaker 3: to boom. So in my head, if I'm investing in

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Speaker 3: those directares, they're probably going to outperform on my ETFs,

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Speaker 3: but it's still high risk for me. So I try

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Speaker 3: to keep it just below five percent, and that's just

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Speaker 3: like my little fun.

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Speaker 2: I literally do the same thing because like as somebody

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Speaker 2: and you guys don't have to do this obviously, again

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Speaker 2: not advice, but you and I are both very interested

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Speaker 2: in investing in general, so I still want to have

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Speaker 2: fun with it. Yeah, And like, if I go way back,

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Speaker 2: all of my portfolio used to be direct shares and

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Speaker 2: now it is not. But now it is. Well, when

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Speaker 2: I was a financial advisor, I picked portfolios for people

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Speaker 2: of eight to twelve directs shares, and like, obviously I

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Speaker 2: was in that forty plus hours a week, always looking

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Speaker 2: at it for clients, so it kind of made sense.

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Speaker 2: I just took the advice that I was literally giving

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Speaker 2: clients and applied it to myself. Once I left the industry, though,

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Speaker 2: I was like, I one can't keep up. Also, I'm

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Speaker 2: not that interested in keeping up with transurban It's not

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Speaker 2: that fun. I don't care that much, And so moved

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Speaker 2: all of my I would say assets, sold them down

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Speaker 2: as time went on, and moved them into ETFs. And

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Speaker 2: now I just have a little bit of fun on

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Speaker 2: the side, got fun money. Yeah, but I want to

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Speaker 2: pick things that I and I've said before they don't

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Speaker 2: always work out. You've heard my comments your fun money

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Speaker 2: choice right now, I keep doubling down on Paradigm. So

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Speaker 2: Paradigm Biopharmaceuticals, again not advice, but PAARASX is what it is,

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Speaker 2: and I have put a fair bit of money into that.

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Speaker 2: They do a lot of medical research. I read the

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Speaker 2: annual reports all the time, and they are doing a

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Speaker 2: lot of research into osteoarthritis, which doesn't have that sounds

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Speaker 2: so fun for me. It is, but they do a

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Speaker 2: lot of research into this space and they have found

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Speaker 2: or they have a drug that and I'm not even

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Speaker 2: trying to sell it. I'm just trying to tell you

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Speaker 2: why I'm interested. They have a drug that has been

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Speaker 2: trialed in other areas so we know that it's safe

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Speaker 2: for human consumption, and it has started having an impact

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Speaker 2: on osteoarthritis. And the CEO actually has osteoarthritis and his

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Speaker 2: boots and all. In anyway, I've been investing in this

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Speaker 2: for way too long and it still hasn't paid offer.

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Speaker 2: But I keep putting my money is fun. Yeah, And

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Speaker 2: then my husband's always like, so how are those Paradigm

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Speaker 2: shares going? And I'm like, not good, we shall retire.

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Speaker 2: Let's not talk about this because if you look at it,

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Speaker 2: very bad. And that's why we invest in each That's

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Speaker 2: why it's five percent of our portfolio, because I'm still

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Speaker 2: genuinely interested in this, but I can't put my life

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Speaker 2: savings in there and hope that that's it does well

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Speaker 2: for me to be able to retire. Just it's a

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Speaker 2: bad time. Let's talk about what shares and ETFs you've

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Speaker 2: seen the greatest return on, because like, it is not

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Speaker 2: an option.

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Speaker 3: Basically, I back in COVID times, I invested in a

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Speaker 3: company called RSE which well that's the Tiger code, which

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Speaker 3: was Reese Pharmaceuticals, and they were doing a lot of

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Speaker 3: the COVID testing but that was like prior to them

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Speaker 3: doing that. So the stock went up shitloads. Couldn't tell

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Speaker 3: you the exact amount because I've sold it now, but

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Speaker 3: that was really good for me. But my best performing

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Speaker 3: ETF at the moment is quoal It's up thirty percent

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Speaker 3: thirty point nine nine percent. Oh no, I've lied to you.

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Speaker 3: I've actually lied to you. That was Now it's my

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Speaker 3: Crypto Thematic ETF, which is up thirty eight point three

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Speaker 3: five percent.

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Speaker 2: Yeah, so not bad. Tell me. I want to talk

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Speaker 2: more about that direct share that you purchased and then sold. Ye.

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Speaker 2: At what point did you feel like, oh, I'm going

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Speaker 2: to sell this because so many people see the money

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Speaker 2: and go, oh my god, it's going to keep going up.

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Speaker 3: Like, how do you make the decision to sell just

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Speaker 3: knowing that? Okay, Well, the whole point of this share

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Speaker 3: going up is because of COVID testing. COVID testing is

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Speaker 3: not going to exist forever. All that jazz it was

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Speaker 3: actually for COVID like vaccinations, yeah, part, And I thought, well,

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Speaker 3: I would rather have this money somewhere that I think

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Speaker 3: is a little bit lower risk.

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Speaker 2: And it's gone up. I've more than doubled my money.

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Speaker 3: Let's just take it out and let's put it in

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Speaker 3: something that I think is a little bit more beneficial

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Speaker 3: long term.

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Speaker 2: So I just sold it and then put it in BDHD.

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Speaker 1: Yeah.

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Speaker 2: That's literally how I work, and it sounds really boring,

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Speaker 2: but sometimes I get a little bit scared when I

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Speaker 2: see too much profit, Like I might see you know,

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Speaker 2: your crypto ETF. I'm assuming you're probably looking at that

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Speaker 2: and going, oh, like, at what point do you take

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Speaker 2: some cash off the table and swap it you're going

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Speaker 2: to keep it.

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Speaker 3: I think with thematic ETFs, I kind of only invest

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Speaker 3: like I also consider them part of the fun money

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Speaker 3: portfak al right, I was like, oh yes, this No,

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Speaker 3: the thematic ETFs I have are like in those sectors

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Speaker 3: that I think are interesting, so like tech, robotics, computing.

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Speaker 3: I also have some like esports, gaming ones as well,

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Speaker 3: which are random, but I that is so not what

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Speaker 3: you would I love a man in it, and I

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Speaker 3: just think that in the long term they're going to

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Speaker 3: perform pretty well, and they all have for me so far,

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Speaker 3: but I still keep them as like a low waiting

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Speaker 3: Like they're all under ten percent of my portfolio, so

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Speaker 3: I kind of don't really worry if they're going gangbuster.

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Speaker 2: I'm not going to rebalance them. I just think they'll

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Speaker 2: be fine. They'll live their life. Yeah, live, love, laugh.

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Speaker 2: That's my investing strategy sometimes. So dividends we invest to

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Speaker 2: get a return. We don't invest just because it sounds

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Speaker 2: fun and you like sport. We invest because we literally

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Speaker 2: want to make money. What kind of returns are you

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Speaker 2: seeing when it comes to dividends, not just like increase

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Speaker 2: in value of shares, and how do you decide to

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Speaker 2: reinvest your income if you do or do you ever

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Speaker 2: take income out of.

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Speaker 3: Your share portfolio. It depends on the month. But most

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Speaker 3: of the time, when I receive dividends, I just reinvest

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Speaker 3: them straight away. Usually I'll reinvest it back into the ETFs.

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Speaker 3: But if I'm like, Okay, well I want to buy

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Speaker 3: some again America, I do on a different platform, So

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Speaker 3: I'll take the dividends and then invest them elsewhere. Every

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Speaker 3: now and then I'll get like a seven hundred dollars

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Speaker 3: dividend and go, oh, it would be really fun to

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Speaker 3: get a dice in air rap. But that's rare. Like

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Speaker 3: I would say, ninety percent of the time, I would

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Speaker 3: reinvest it ten percent of the time.

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Speaker 2: I'm just a girl and I would like to go

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Speaker 2: buy something. Yeah. Look, I resonate with that, and I

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Speaker 2: feel like that is absolutely fair. So does that mean

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Speaker 2: that you do not have a dividend reinvestment plan on?

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Speaker 2: You do it manually. I do it manually. Yeah, I'm

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Speaker 2: not surprised. So let's take a quick break, because I

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Speaker 2: feel like we have dove into a lot very quickly,

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Speaker 2: and then we're going to get into what I would

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Speaker 2: say is some of the spicier stuff Brooks tactical moves,

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Speaker 2: how she handles market dips, and something we get questions

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Speaker 2: about all the time. That's debt recycling. So guys stay tuned.

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Speaker 2: All right, welcome back, brook. I feel like this has

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Speaker 2: probably overwhelmed a lot of people. Can we do a

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Speaker 2: very quick recap. You're an investor. You're an aggressive investor

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Speaker 2: investing six hundred and fifty dollars each and every single week,

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Speaker 2: or thirteen hundred dollars every single fortnite because your dollar

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Speaker 2: cost average into the market, and you've worked out that

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Speaker 2: that works better for you when it comes to paying

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Speaker 2: for brokerage. How did you work that out a calculator? Yes,

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Speaker 2: But did you go, oh, well, I would be comfortable

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Speaker 2: with those brokerages fees or did you decide, oh, that's

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Speaker 2: what the internet recommends is appropriate for brokerage, or where

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Speaker 2: did you get the info?

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Speaker 3: There's heaps of dollar cost averaging calculators out there, But

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Speaker 3: my brokerage is typically a nine dollars fifty, so I

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Speaker 3: think in thirteen hundred dollars it's pretty negligent.

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Speaker 2: I try to keep it below like one percent.

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Speaker 3: I realistically would love to invest every week, But if

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Speaker 3: I'm not investing one thousand dollars at one time, I

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Speaker 3: think it's a bit silly. So that's why I like

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Speaker 3: to it every fortnite, because thirteen hundred dollars is like

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Speaker 3: a little sweet buffer. But then if I'm like paid

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Speaker 3: a bit more some months, it might be a bit

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Speaker 3: more than thirteen hundred dollars a fortnite, but like that's

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Speaker 3: like the minimum that I would invest.

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Speaker 2: Yeah, and when you started investing, I mean that you

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Speaker 2: weren't investing thirteen hundred dollars because you had different incomes.

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Speaker 2: I feel like for some people that is wildly unrelatable.

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Speaker 2: And that is fine because you've worked up to that.

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Speaker 2: But when you started investing, you had your first ten

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Speaker 2: grand yeap. How much were you investing consistently after your

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Speaker 2: initial investment?

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Speaker 1: Not a lot.

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Speaker 3: Like when I first start investing, I did that ten grand,

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Speaker 3: I could did the first five k, and then I

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Speaker 3: did two and a half thousand into RC, and then

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Speaker 3: I did two and a half thousand into somebody else.

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Speaker 3: I actually can't remember what it is because I'm it

410
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Speaker 3: was years and years and years ago.

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Speaker 2: I ended up selling that. I think it could have

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Speaker 2: been like an all market share.

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Speaker 3: And then after that I would just save up all

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Speaker 3: my savings for a house deposit and then go, okay,

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Speaker 3: well I'll take a little bit of that and I'll

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Speaker 3: put it in. There was no like consistency. It didn't

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Speaker 3: really start being consistent until I had a second income

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Speaker 3: and I was like, okay, well, all of this second

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Speaker 3: income is free money because I'm not usually getting it.

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Speaker 3: I'm going to invest all of the second income. And

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Speaker 3: then from then on I just decided, okay, well this

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Speaker 3: is the amount that I can justify investing, regardless of

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Speaker 3: having a second income or not.

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Speaker 2: I'm just going to invest that. So yeah, and you've

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Speaker 2: worked out what works for you. And I think that

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Speaker 2: a lot of people will be surprised that you have

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Speaker 2: a second income because they'll go, wait, what where do

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Speaker 2: you find the time? And I think it's I think

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Speaker 2: it's up to personal values, right, like I M say,

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Speaker 2: thinkme doesn't take long? Yes, But also I think that

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Speaker 2: a lot of people might assume that you're spending forty

432
00:20:21,160 --> 00:20:24,159
Speaker 2: hours a week on that income as well. But that

433
00:20:24,359 --> 00:20:28,080
Speaker 2: ebbs and flows and thankfully connects in or not connects in.

434
00:20:28,240 --> 00:20:30,040
Speaker 2: It's it's adjacent to what you do it cheese on

435
00:20:30,080 --> 00:20:31,639
Speaker 2: the money. So if you're like, oh, v I need

436
00:20:31,720 --> 00:20:34,040
Speaker 2: to go work this day doing something else, like you

437
00:20:34,280 --> 00:20:36,639
Speaker 2: just do, it's not make it work. Yeah, we just

438
00:20:36,720 --> 00:20:39,840
Speaker 2: make it work. It doesn't actually matter. So something that

439
00:20:40,000 --> 00:20:43,760
Speaker 2: I know you and your boyfriend talk about a lot

440
00:20:44,680 --> 00:20:47,720
Speaker 2: is debt recycling, and I would You're not a homeowner,

441
00:20:47,920 --> 00:20:52,440
Speaker 2: but you're a homeowner adjacent I know a homeowner someone else. Yeah, yeah,

442
00:20:52,520 --> 00:20:56,080
Speaker 2: I pay rent now now now I pay rent. It's

443
00:20:56,200 --> 00:20:58,000
Speaker 2: very it's very costly, but I do pay rent. No

444
00:20:58,359 --> 00:21:01,640
Speaker 2: debt recycling. Are we doing to do it? I would?

445
00:21:01,840 --> 00:21:02,920
Speaker 2: I personally wouldn't do it.

446
00:21:03,080 --> 00:21:04,840
Speaker 3: I think if you're going to debt recycle, you should

447
00:21:04,840 --> 00:21:07,560
Speaker 3: go to a financial advisor because I think there's so

448
00:21:07,680 --> 00:21:09,600
Speaker 3: much risk in it. And it's like, okay, well let's

449
00:21:09,640 --> 00:21:10,920
Speaker 3: just have someone that this is their job.

450
00:21:11,080 --> 00:21:11,600
Speaker 2: They can do it.

451
00:21:11,880 --> 00:21:13,920
Speaker 3: Sure, you could do it yourself. I think it's not

452
00:21:14,080 --> 00:21:17,480
Speaker 3: worth the risk. Personally, I wouldn't debt recycle because I

453
00:21:19,040 --> 00:21:21,400
Speaker 3: like the idea of fully like the equity on the house,

454
00:21:21,440 --> 00:21:24,320
Speaker 3: getting paid itself down, all that jazz. I just think

455
00:21:24,359 --> 00:21:26,680
Speaker 3: it's not my style of investing. I'm not a homeowner,

456
00:21:26,800 --> 00:21:28,840
Speaker 3: so maybe my opinion would change on my own home,

457
00:21:28,920 --> 00:21:30,679
Speaker 3: but it's not looking like it's going to happen anytime

458
00:21:30,760 --> 00:21:33,159
Speaker 3: soon for me. I like the idea of having my

459
00:21:34,119 --> 00:21:37,320
Speaker 3: index finds my ets, everything happening in one section, and

460
00:21:38,040 --> 00:21:40,680
Speaker 3: the home owning and that jazz is a separate realm.

461
00:21:40,800 --> 00:21:42,920
Speaker 3: So if I was ever going to look down that path,

462
00:21:43,320 --> 00:21:45,399
Speaker 3: it would be when I have a financial advisor, like,

463
00:21:45,520 --> 00:21:47,240
Speaker 3: I'm not going to be doing that on my own.

464
00:21:47,560 --> 00:21:50,200
Speaker 2: Yeah, And I feel like a lot of people be like,

465
00:21:50,240 --> 00:21:53,680
Speaker 2: what the heck is debt recycling quick recap? Debt recycling

466
00:21:53,800 --> 00:21:56,760
Speaker 2: is basically where you take some debt out of your mortgage.

467
00:21:56,880 --> 00:21:58,920
Speaker 2: So you might go, Okay, cool, I've worked out that

468
00:21:59,000 --> 00:22:01,640
Speaker 2: I have some EQUID in my property. Let's say it's

469
00:22:01,640 --> 00:22:04,119
Speaker 2: one hundred thousand dollars, and you take that one hundred

470
00:22:04,160 --> 00:22:05,639
Speaker 2: thousand dollars, you go to the bank and say can

471
00:22:05,680 --> 00:22:07,800
Speaker 2: I please release that, and then you give that to

472
00:22:07,840 --> 00:22:12,960
Speaker 2: your financial advisor to invest and essentially you're investing on debt.

473
00:22:13,280 --> 00:22:15,920
Speaker 2: And the way that a lot of people, I want

474
00:22:15,960 --> 00:22:18,200
Speaker 2: to say, justify it or make it make sense in

475
00:22:18,200 --> 00:22:22,320
Speaker 2: their heads is, for a very long time, money from

476
00:22:22,400 --> 00:22:26,000
Speaker 2: the bank was really cheap, so it was very very

477
00:22:26,160 --> 00:22:29,560
Speaker 2: popular pre COVID. At the start of COVID, before we

478
00:22:29,720 --> 00:22:33,040
Speaker 2: started having interest rates increase, when you could get to

479
00:22:33,320 --> 00:22:35,439
Speaker 2: three percent as a home loan, and then the average

480
00:22:35,520 --> 00:22:38,040
Speaker 2: rate of return on the share market is more than

481
00:22:38,119 --> 00:22:39,960
Speaker 2: ten percent. So for a lot of people, they'd go

482
00:22:40,080 --> 00:22:44,119
Speaker 2: well right, pocket left pocket, ah, free money exactly, So

483
00:22:44,720 --> 00:22:48,080
Speaker 2: that would make sense. Now it's not as popular because

484
00:22:48,160 --> 00:22:51,240
Speaker 2: interest rates have skyrocketed. People can't afford to be able

485
00:22:51,320 --> 00:22:54,440
Speaker 2: to do that. More risky, but that's exactly why it's

486
00:22:54,560 --> 00:22:58,680
Speaker 2: so risky is the market's flow over time. And from

487
00:22:58,720 --> 00:23:02,199
Speaker 2: my perspective as a financial advisor, I had clients who

488
00:23:02,280 --> 00:23:06,200
Speaker 2: did it, but it was more often than not debt

489
00:23:06,280 --> 00:23:09,119
Speaker 2: recycling because they actually had enough cash flow to be

490
00:23:09,200 --> 00:23:11,639
Speaker 2: able to pull out a whole heap of equity or

491
00:23:11,680 --> 00:23:15,679
Speaker 2: a really large lump sum to kick start their investing portfolio,

492
00:23:15,880 --> 00:23:19,160
Speaker 2: because maybe they had a couple of hundred thousand dollars

493
00:23:19,200 --> 00:23:22,119
Speaker 2: in equity, but they also had the cash flow to

494
00:23:23,200 --> 00:23:26,000
Speaker 2: increase how much their mortgage repayments were, and at that

495
00:23:26,080 --> 00:23:28,560
Speaker 2: point you'd be like, okay, cool, like slay. If you

496
00:23:28,680 --> 00:23:31,520
Speaker 2: invested two hundred grand today, you're obviously in a better

497
00:23:31,560 --> 00:23:33,920
Speaker 2: position than if you just started investing one thousand dollars

498
00:23:33,960 --> 00:23:37,280
Speaker 2: every week. So we would do that, but it was

499
00:23:37,520 --> 00:23:40,760
Speaker 2: so niche like the people that it actually worked out for,

500
00:23:41,000 --> 00:23:43,720
Speaker 2: and you know, you could say, oh, well, what happens

501
00:23:43,760 --> 00:23:45,440
Speaker 2: if you need to pay off an extra hundred grand,

502
00:23:45,520 --> 00:23:48,320
Speaker 2: or what happens if interest rates increase? They were financially

503
00:23:48,400 --> 00:23:50,199
Speaker 2: fine if that was the case, they have it. They

504
00:23:50,240 --> 00:23:53,040
Speaker 2: didn't care, whereas for most people in our community, I

505
00:23:53,040 --> 00:23:57,080
Speaker 2: would say interest rate hikes hurt. So if you're thinking

506
00:23:57,240 --> 00:23:59,720
Speaker 2: I wish I had a lower interest rate, probably debt

507
00:23:59,720 --> 00:24:02,240
Speaker 2: recent isn't. It's a very niche group of people that

508
00:24:02,320 --> 00:24:04,000
Speaker 2: it makes sense for. So maybe we need to do

509
00:24:04,040 --> 00:24:05,600
Speaker 2: a whole episode on it, because I do get a

510
00:24:05,640 --> 00:24:09,200
Speaker 2: lot of questions about dair recycling. Now, you said you

511
00:24:09,320 --> 00:24:12,920
Speaker 2: love an American share You find American culture very interesting,

512
00:24:13,200 --> 00:24:16,720
Speaker 2: and the share market has been all over the shop

513
00:24:16,800 --> 00:24:21,639
Speaker 2: this year thanks to our friends Donnie Trump. How did

514
00:24:21,800 --> 00:24:24,199
Speaker 2: you react? How did you feel when all of that happened?

515
00:24:24,320 --> 00:24:30,080
Speaker 2: Oh my god, this shares on sale? Very excited. I

516
00:24:30,240 --> 00:24:33,080
Speaker 2: bought things. Did you buy? What did you buy? Well?

517
00:24:33,320 --> 00:24:34,919
Speaker 2: It was dip in and we were like, hey, we're

518
00:24:34,960 --> 00:24:35,560
Speaker 2: going shopping.

519
00:24:35,840 --> 00:24:37,720
Speaker 3: Not only did I buy something, but the other half

520
00:24:37,720 --> 00:24:40,600
Speaker 3: of the social media team also made their first investment

521
00:24:40,720 --> 00:24:40,879
Speaker 3: in the.

522
00:24:41,359 --> 00:24:42,200
Speaker 2: Dip they did.

523
00:24:42,400 --> 00:24:45,480
Speaker 3: Miss Georgia also bought something. Georgia bought a VDHG. I

524
00:24:45,520 --> 00:24:47,200
Speaker 3: felt very proud. I was like, oh my god, my

525
00:24:47,320 --> 00:24:52,600
Speaker 3: pad Georgia. I told and I bought Berkshire Hathway B

526
00:24:52,760 --> 00:24:56,040
Speaker 3: because I wanted to for so long. And okay, but

527
00:24:56,119 --> 00:24:58,440
Speaker 3: that wasn't the smartest movie because he also resigned the

528
00:24:58,480 --> 00:25:00,520
Speaker 3: next day, but I I still.

529
00:25:00,600 --> 00:25:03,520
Speaker 2: Left so hard. I'm not gonna lie, but like for ages,

530
00:25:03,600 --> 00:25:07,040
Speaker 2: and I currently don't own Berkshire Hathaway B because for

531
00:25:07,160 --> 00:25:10,000
Speaker 2: so long it has been overpriced or I've looked at

532
00:25:10,040 --> 00:25:11,880
Speaker 2: it and gone, oh, I just can't like because it's

533
00:25:11,920 --> 00:25:15,720
Speaker 2: so popular, right, everybody wants in. He's really smart to

534
00:25:15,880 --> 00:25:18,159
Speaker 2: like have a little dip to see an opportunity and

535
00:25:18,440 --> 00:25:20,880
Speaker 2: like quit me any quit. So I am currently down.

536
00:25:21,200 --> 00:25:22,320
Speaker 2: It's only down a little bit.

537
00:25:22,560 --> 00:25:24,560
Speaker 3: I think, you know what's it's going to recover because

538
00:25:24,560 --> 00:25:29,080
Speaker 3: it has a similar like portfolio. Like Berkshire Hathaway themselves

539
00:25:29,160 --> 00:25:31,040
Speaker 3: invest in a bunch of companies. I'm sure people know this,

540
00:25:31,680 --> 00:25:34,440
Speaker 3: but the companies that they invest in mirror a lot

541
00:25:34,600 --> 00:25:36,800
Speaker 3: of the other ETFs that I have, so it's quite

542
00:25:36,880 --> 00:25:40,200
Speaker 3: similar like risk profiles everything else I have. But people

543
00:25:40,240 --> 00:25:42,840
Speaker 3: don't realize the share price is not indicated on what

544
00:25:42,920 --> 00:25:45,080
Speaker 3: they invest in as well, it's on what people buy.

545
00:25:46,280 --> 00:25:49,400
Speaker 2: So I will come back, and I just feel like, yes,

546
00:25:49,520 --> 00:25:52,920
Speaker 2: he retired, but he's not a way no. And I

547
00:25:53,000 --> 00:25:55,280
Speaker 2: think for a very long time, and I mean he

548
00:25:55,400 --> 00:25:57,800
Speaker 2: is very old, but for a very long time he's

549
00:25:57,840 --> 00:26:00,240
Speaker 2: built this investment company. And yes he's the head of it,

550
00:26:00,359 --> 00:26:03,159
Speaker 2: but there are so many analysts and people in that

551
00:26:03,240 --> 00:26:06,080
Speaker 2: business making decisions. Yeah, and I think that the market

552
00:26:06,240 --> 00:26:09,400
Speaker 2: just needs to see that now he's retired, it'll be fine.

553
00:26:09,480 --> 00:26:11,840
Speaker 2: It'll be fine, and it tracks and then it all increase.

554
00:26:11,920 --> 00:26:13,720
Speaker 2: We can come back in a year's time and I'm

555
00:26:13,800 --> 00:26:16,360
Speaker 2: going to be a billionaire, just kidding. Okay, Well call

556
00:26:16,480 --> 00:26:18,399
Speaker 2: me when that happens and we'll get you back on

557
00:26:18,480 --> 00:26:20,520
Speaker 2: the show. I'd love to get a billionaire on the show.

558
00:26:20,600 --> 00:26:22,400
Speaker 2: So if you know, one Nash year, I'll be read

559
00:26:22,800 --> 00:26:27,120
Speaker 2: message message us. We spoke before about you selling investments. Yeah,

560
00:26:27,280 --> 00:26:29,480
Speaker 2: what else have you sold? Why not a lot?

561
00:26:29,560 --> 00:26:31,560
Speaker 3: Like I pretty much have only sold the first few

562
00:26:31,640 --> 00:26:34,080
Speaker 3: investments I ever made because I didn't really make them

563
00:26:34,080 --> 00:26:37,960
Speaker 3: from too much of a knowledgeable place, Like I made

564
00:26:37,960 --> 00:26:40,919
Speaker 3: those decisions because I thought that made sense, and then

565
00:26:41,000 --> 00:26:42,679
Speaker 3: I sold them when I realized I didn't really align

566
00:26:42,760 --> 00:26:46,120
Speaker 3: with my overarching strategy. I didn't really like the idea

567
00:26:46,160 --> 00:26:49,320
Speaker 3: of having twenty five percent of my portfolio being a director.

568
00:26:49,440 --> 00:26:50,960
Speaker 3: I thought like, oh, when I realized that that was

569
00:26:51,040 --> 00:26:52,359
Speaker 3: kind of risky, I thought, Okay, well, I'm not going

570
00:26:52,400 --> 00:26:54,240
Speaker 3: to do that again. And then I've sold it down

571
00:26:54,280 --> 00:26:56,800
Speaker 3: to keep like ninety percent of my portfolio as ETFs.

572
00:26:57,359 --> 00:26:58,880
Speaker 2: They're pretty much the only ones I've sold. The rest

573
00:26:58,880 --> 00:26:59,600
Speaker 2: of them I've held.

574
00:27:00,080 --> 00:27:02,480
Speaker 3: Also sold my shares when I changed platforms because I

575
00:27:02,480 --> 00:27:04,760
Speaker 3: couldn't be rather going through the hind transfer I had

576
00:27:04,800 --> 00:27:06,159
Speaker 3: to print something off to side a form, so I

577
00:27:06,240 --> 00:27:08,520
Speaker 3: sold them. I thought, let me just take those capital

578
00:27:08,560 --> 00:27:09,679
Speaker 3: gains tax and call them.

579
00:27:10,440 --> 00:27:13,359
Speaker 2: That was expensive. It was an expensive decision, but I'm like,

580
00:27:13,600 --> 00:27:17,480
Speaker 2: come talk to me about exit strategies. So I when

581
00:27:17,520 --> 00:27:19,320
Speaker 2: I was an advisor, I used to always say to clients,

582
00:27:19,359 --> 00:27:22,000
Speaker 2: what's the exit strategy if there is one? Like, we

583
00:27:22,119 --> 00:27:24,000
Speaker 2: always want to be in a position to be able

584
00:27:24,080 --> 00:27:26,720
Speaker 2: to sell down, but we don't necessarily have to sell down.

585
00:27:27,480 --> 00:27:31,400
Speaker 2: What's the plan? You said, if I continue on my trajectory,

586
00:27:31,600 --> 00:27:35,280
Speaker 2: I could potentially retire at thirty five. Are we selling

587
00:27:35,320 --> 00:27:37,960
Speaker 2: every single asset at thirty five and living large or

588
00:27:38,119 --> 00:27:40,040
Speaker 2: are we existing off the income?

589
00:27:40,080 --> 00:27:43,600
Speaker 3: What does that existing off the income? Like either dividends

590
00:27:43,720 --> 00:27:47,080
Speaker 3: or selling down like a smaller percentage. I realistically could

591
00:27:47,119 --> 00:27:49,320
Speaker 3: live a very comfortable life on seventy five K. Yeah,

592
00:27:49,840 --> 00:27:53,760
Speaker 3: don't live an excessive life. I'm homeowner adjacent. So you're

593
00:27:53,800 --> 00:27:56,240
Speaker 3: saying a man is in fact a financial plan. That

594
00:27:56,400 --> 00:27:58,119
Speaker 3: is never a financial plan. But I can afford to

595
00:27:58,119 --> 00:28:00,840
Speaker 3: pay rent. What I invest now is mental income, like

596
00:28:00,920 --> 00:28:02,880
Speaker 3: I could pay that for a rental, and I also

597
00:28:02,920 --> 00:28:04,200
Speaker 3: do pay rent as well on top of that.

598
00:28:04,320 --> 00:28:07,119
Speaker 2: So don't you worry. I'm spending spending big so you

599
00:28:07,200 --> 00:28:08,840
Speaker 2: earn a good income. Is she's on the money, that

600
00:28:08,960 --> 00:28:09,600
Speaker 2: is very nice.

601
00:28:11,520 --> 00:28:16,040
Speaker 3: I would say, I have two jobs, two jobs, victoria

602
00:28:16,040 --> 00:28:18,320
Speaker 3: to behind, got to get a pay rise to talk

603
00:28:18,320 --> 00:28:18,639
Speaker 3: about that?

604
00:28:18,760 --> 00:28:22,680
Speaker 2: Never, yeah, hear it here? First seven percent in line

605
00:28:22,720 --> 00:28:25,240
Speaker 2: with inflation. Never forget, never ever forget.

606
00:28:25,520 --> 00:28:28,000
Speaker 3: So you know I would sell down a portion, but

607
00:28:28,000 --> 00:28:30,840
Speaker 3: I would never sell everything because realistically, when you work

608
00:28:30,880 --> 00:28:33,360
Speaker 3: out your financial independence number, you realize that. Okay, well,

609
00:28:33,680 --> 00:28:35,680
Speaker 3: this is the number I can draw down and my

610
00:28:35,760 --> 00:28:39,440
Speaker 3: portfolio will continue to grow, so hopefully my grandkids and

611
00:28:39,520 --> 00:28:41,000
Speaker 3: children would retire with.

612
00:28:41,320 --> 00:28:45,080
Speaker 2: Just creates some money generational wealth. Yes, so did you

613
00:28:45,240 --> 00:28:47,880
Speaker 2: use the five percent rule for drawdowns or what did

614
00:28:47,920 --> 00:28:49,080
Speaker 2: you take the math?

615
00:28:49,440 --> 00:28:52,440
Speaker 3: I found out you could just like, if whatever income

616
00:28:52,520 --> 00:28:54,720
Speaker 3: you want, then times are by twenty five and that's

617
00:28:54,800 --> 00:28:56,680
Speaker 3: roughly the amount of money that you should have. And

618
00:28:56,800 --> 00:28:58,640
Speaker 3: I've just accepted that's the amount of money I need

619
00:28:58,720 --> 00:28:58,840
Speaker 3: to have.

620
00:28:59,200 --> 00:29:02,680
Speaker 2: Yeah, okay, And I mean the twenty five rule means, yes,

621
00:29:02,800 --> 00:29:05,680
Speaker 2: you are using the five percent rule, which we spoke

622
00:29:05,720 --> 00:29:08,360
Speaker 2: about a lot in a previous episode, and you and

623
00:29:08,560 --> 00:29:10,600
Speaker 2: George master class. I was going to say, you and

624
00:29:10,680 --> 00:29:13,720
Speaker 2: Georgia have spent a lot of time creating our playlists,

625
00:29:13,920 --> 00:29:15,959
Speaker 2: so yeah, they look so cute. Yeah, so we've got

626
00:29:16,080 --> 00:29:17,720
Speaker 2: very cute playlists. But if you want to go through

627
00:29:17,840 --> 00:29:21,520
Speaker 2: our investing playlists, in that episode or in one of

628
00:29:21,560 --> 00:29:23,720
Speaker 2: the episodes, in that playlist, we talk about the five

629
00:29:23,760 --> 00:29:26,320
Speaker 2: percent rule and what that means and how that works.

630
00:29:26,520 --> 00:29:28,960
Speaker 2: And if you were a bit confused when Brooks said

631
00:29:29,000 --> 00:29:31,400
Speaker 2: twenty five times, like that, that's the math that math's

632
00:29:31,440 --> 00:29:33,360
Speaker 2: the math that maths, and we talk about it a

633
00:29:33,440 --> 00:29:37,440
Speaker 2: lot in that episode, and an investing masterclass exactly. I

634
00:29:37,520 --> 00:29:41,120
Speaker 2: mean we literally teach you everything and not only everything

635
00:29:41,360 --> 00:29:42,040
Speaker 2: involved in it.

636
00:29:42,240 --> 00:29:44,320
Speaker 3: You should go sign them for the Investing mask class

637
00:29:44,360 --> 00:29:45,920
Speaker 3: and use code suckl just kidding.

638
00:29:45,920 --> 00:29:47,760
Speaker 2: There's no codes. You should set one up because it

639
00:29:47,840 --> 00:29:51,040
Speaker 2: was an affiliate code for myself. We don't do affiliates,

640
00:29:51,120 --> 00:29:54,440
Speaker 2: but apparently just make it for them. We do capital

641
00:29:54,480 --> 00:29:57,080
Speaker 2: gains tax. You said before I sold down my shares

642
00:29:57,120 --> 00:30:00,480
Speaker 2: because I couldn't be either doing the hint transfer capital

643
00:30:00,520 --> 00:30:03,880
Speaker 2: gains tax something that you actually consider when selling. I

644
00:30:03,960 --> 00:30:05,720
Speaker 2: didn't consider it at the time. I was just lazy.

645
00:30:06,040 --> 00:30:07,840
Speaker 3: I would consider it now. But if you hold your

646
00:30:07,840 --> 00:30:10,560
Speaker 3: shares over twelve months, you get fifty percent reduction on

647
00:30:10,600 --> 00:30:13,520
Speaker 3: capital gains tax. I'm not really worried about that until

648
00:30:13,560 --> 00:30:15,680
Speaker 3: I'm thirty five, just kidding. I'm not retiring then, but

649
00:30:15,800 --> 00:30:18,320
Speaker 3: if I were. Whenever I retire and decide that I'm

650
00:30:18,360 --> 00:30:20,160
Speaker 3: going to start taking it, then I'll obviously worry about

651
00:30:20,160 --> 00:30:21,000
Speaker 3: the capital gains tax.

652
00:30:21,320 --> 00:30:24,080
Speaker 2: But it's not that much. Like, I don't think it's

653
00:30:24,080 --> 00:30:25,680
Speaker 2: going to affect me that much. I don't think it's

654
00:30:25,760 --> 00:30:29,320
Speaker 2: that bad. And I think people extrapolate out how scary

655
00:30:29,360 --> 00:30:30,800
Speaker 2: it is because they're like, oh, I don't want to

656
00:30:30,840 --> 00:30:33,520
Speaker 2: have to pay extra tax. Girl. If you're paying taxes

657
00:30:33,520 --> 00:30:35,840
Speaker 2: because you've made money and we are winning to money,

658
00:30:36,360 --> 00:30:40,960
Speaker 2: and capital gains tax is tax on the profits, not

659
00:30:41,120 --> 00:30:44,160
Speaker 2: tax on your entire portfolio. It's tax on the profits

660
00:30:44,200 --> 00:30:47,000
Speaker 2: that you've made from the portfolio, which, honestly, I hope

661
00:30:47,000 --> 00:30:49,640
Speaker 2: it's heaps. Yeah, like I hope that Brook. You have

662
00:30:49,760 --> 00:30:53,400
Speaker 2: a really big capital gains tax bill. Yeah, you're welcome too.

663
00:30:53,680 --> 00:30:57,960
Speaker 2: You're welcome talk to me about your number. You said,

664
00:30:58,120 --> 00:31:00,680
Speaker 2: I've got my financial freedom number, and I did twenty

665
00:31:00,720 --> 00:31:01,360
Speaker 2: five times.

666
00:31:01,480 --> 00:31:01,880
Speaker 1: What is it?

667
00:31:02,000 --> 00:31:04,280
Speaker 2: Why did you take two million dollars?

668
00:31:04,560 --> 00:31:04,760
Speaker 1: Yeah?

669
00:31:04,880 --> 00:31:06,640
Speaker 3: I can't remember what did I can't think it works

670
00:31:06,680 --> 00:31:08,720
Speaker 3: out to be like eighty k. Yeah, I think that

671
00:31:08,840 --> 00:31:11,360
Speaker 3: was the Let me divide by twenty five to tell you.

672
00:31:11,880 --> 00:31:13,680
Speaker 2: Yeah, it's eighty k. I thought eighty k was a

673
00:31:13,720 --> 00:31:17,360
Speaker 2: comfortable life for me. Yeah. Good. And your plan is

674
00:31:17,440 --> 00:31:20,160
Speaker 2: to be able to retire at thirty five. But are

675
00:31:20,240 --> 00:31:22,760
Speaker 2: you talk to me a little bit about more your

676
00:31:22,880 --> 00:31:27,000
Speaker 2: personality when it comes to working, because I wouldn't working. Yes,

677
00:31:27,120 --> 00:31:28,760
Speaker 2: but I wouldn't say. And I think a lot of

678
00:31:28,800 --> 00:31:30,400
Speaker 2: people are like, oh my god, Like if you put

679
00:31:30,440 --> 00:31:32,440
Speaker 2: in the hard yards, now you can retire and you

680
00:31:32,560 --> 00:31:34,480
Speaker 2: never have to work another day in the life. And

681
00:31:34,560 --> 00:31:38,480
Speaker 2: I think a lot of people assume that if you

682
00:31:38,560 --> 00:31:41,200
Speaker 2: want to retire early, it's because you just don't want

683
00:31:41,240 --> 00:31:43,320
Speaker 2: to be working. And I would say that you are

684
00:31:43,400 --> 00:31:48,360
Speaker 2: born to born to work, yes, but what does that

685
00:31:48,520 --> 00:31:50,280
Speaker 2: look like? Is it just because you're like, I want

686
00:31:50,360 --> 00:31:52,720
Speaker 2: financial freedom by then I want this, Like or are

687
00:31:52,760 --> 00:31:54,880
Speaker 2: you planning on traveling the world or are you planning

688
00:31:54,920 --> 00:31:56,440
Speaker 2: on never working a day in your life?

689
00:31:56,600 --> 00:31:56,640
Speaker 1: Like?

690
00:31:56,720 --> 00:31:59,880
Speaker 2: What does that financial freedom number? What does it mean

691
00:32:00,080 --> 00:32:00,640
Speaker 2: to achieve it?

692
00:32:01,080 --> 00:32:03,280
Speaker 3: I think because I grew up in like a very

693
00:32:03,360 --> 00:32:06,320
Speaker 3: low socio economic area, I kind of like realize what

694
00:32:06,400 --> 00:32:07,880
Speaker 3: it's like to not have money. Like I did not

695
00:32:08,000 --> 00:32:10,680
Speaker 3: grow up wealthy by any stretch of the imagination. My parents'

696
00:32:10,720 --> 00:32:13,240
Speaker 3: house was seventy thousand dollars. We lived on like one

697
00:32:13,520 --> 00:32:15,760
Speaker 3: parent's income, which was my dad was a mechanic and

698
00:32:15,800 --> 00:32:18,760
Speaker 3: apprentice a mechanic at that time. Like, we did not

699
00:32:19,040 --> 00:32:22,280
Speaker 3: grow up rich and like, we're just lucky to have

700
00:32:22,400 --> 00:32:24,080
Speaker 3: what we have. So I think the idea of me,

701
00:32:24,200 --> 00:32:26,640
Speaker 3: having financial independence is like, Okay, well, I know that

702
00:32:26,720 --> 00:32:29,920
Speaker 3: I'm never going to be back with no money, like

703
00:32:30,000 --> 00:32:32,480
Speaker 3: I have money, worst comes to worse. I could help

704
00:32:32,520 --> 00:32:34,680
Speaker 3: my mom, I could help my sister, like I've got

705
00:32:34,960 --> 00:32:37,240
Speaker 3: money spared. It's not about retiring for me, because I

706
00:32:37,520 --> 00:32:41,160
Speaker 3: like working. I like doing things like I have a

707
00:32:41,240 --> 00:32:43,520
Speaker 3: side hustle. I look for new things I could be

708
00:32:43,560 --> 00:32:45,320
Speaker 3: doing all the time, like I've got goals to start,

709
00:32:45,520 --> 00:32:48,200
Speaker 3: like a little business. I just think the idea of

710
00:32:48,280 --> 00:32:50,280
Speaker 3: having the financial independence is Okay, well, I can be

711
00:32:50,320 --> 00:32:52,080
Speaker 3: a little bit more risky with my decisions. If I

712
00:32:52,160 --> 00:32:54,600
Speaker 3: start a small business and I don't own income for

713
00:32:54,680 --> 00:32:57,240
Speaker 3: the first three four years, Well that's fine because I

714
00:32:57,400 --> 00:32:58,880
Speaker 3: have my investments, like.

715
00:32:59,560 --> 00:33:00,280
Speaker 2: Backing me up.

716
00:33:00,320 --> 00:33:02,520
Speaker 3: I also have a job I also had, Like I'm

717
00:33:02,600 --> 00:33:05,000
Speaker 3: looking for just many ways to have money so that

718
00:33:05,120 --> 00:33:05,800
Speaker 3: I'm not poor.

719
00:33:06,040 --> 00:33:08,240
Speaker 2: Yeah. And I think that that's an important thing to

720
00:33:08,360 --> 00:33:10,280
Speaker 2: touch on as well, because a lot of people might

721
00:33:10,320 --> 00:33:13,560
Speaker 2: be going, well, she was really privileged, or she had

722
00:33:13,640 --> 00:33:16,640
Speaker 2: parents that invested, or she you know, got gifted money

723
00:33:16,720 --> 00:33:19,720
Speaker 2: or had an inheritance, or her parents gathering taught alone.

724
00:33:20,000 --> 00:33:23,400
Speaker 2: Like no, I think it's really important to contextualize it

725
00:33:23,520 --> 00:33:26,239
Speaker 2: because so often we hear of people investing and then

726
00:33:26,280 --> 00:33:28,920
Speaker 2: we get disheartened because then we go, oh, that's not.

727
00:33:29,000 --> 00:33:31,520
Speaker 3: Oh their parents were properly investors. No wonder why they

728
00:33:31,560 --> 00:33:32,160
Speaker 3: own a house.

729
00:33:32,480 --> 00:33:34,479
Speaker 2: Yeah, And we talk about it a lot in our

730
00:33:34,520 --> 00:33:37,840
Speaker 2: team as well, because like getting to thirteen hundred dollars

731
00:33:37,880 --> 00:33:40,720
Speaker 2: a fortnight, doney, that's a lot of money and it's

732
00:33:40,760 --> 00:33:44,040
Speaker 2: definitely not the expectation that you listen to this episode

733
00:33:44,120 --> 00:33:45,840
Speaker 2: and maybe you've never invested in your life and then

734
00:33:45,880 --> 00:33:49,200
Speaker 2: suddenly you find that money to invest that has taken

735
00:33:49,280 --> 00:33:52,440
Speaker 2: you a while to not only works too confidence wise

736
00:33:52,520 --> 00:33:56,520
Speaker 2: to invest, but also working out. Okay, well if I

737
00:33:56,600 --> 00:33:59,560
Speaker 2: have this other job, is that one of the motivations

738
00:33:59,600 --> 00:34:01,000
Speaker 2: to like do so much?

739
00:34:01,280 --> 00:34:01,480
Speaker 4: Yeah?

740
00:34:01,560 --> 00:34:04,959
Speaker 3: I think I just I live like I've still got

741
00:34:05,000 --> 00:34:07,959
Speaker 3: my first corporate job income. Like my first corporate job

742
00:34:08,080 --> 00:34:10,360
Speaker 3: was like fifty k. So to me, I'm like, well,

743
00:34:10,400 --> 00:34:11,960
Speaker 3: if I can spend less than fifty k a year

744
00:34:12,120 --> 00:34:14,600
Speaker 3: on all of my expenses that's including brands and overseas

745
00:34:14,640 --> 00:34:16,880
Speaker 3: holiday Like, if I can do that, then great. That

746
00:34:17,000 --> 00:34:18,799
Speaker 3: spare money is either going to go into my house

747
00:34:18,880 --> 00:34:21,120
Speaker 3: deposit or it's going to go like into investments. So

748
00:34:21,520 --> 00:34:24,719
Speaker 3: every time I've either got a better paying income or

749
00:34:24,760 --> 00:34:26,359
Speaker 3: a pay rise or a second income.

750
00:34:26,360 --> 00:34:29,120
Speaker 2: I'm like, okay, well that's not my money. I don't

751
00:34:29,160 --> 00:34:29,920
Speaker 2: need that money to live.

752
00:34:29,960 --> 00:34:31,719
Speaker 3: Okay, let's put that into my house deposit and then

753
00:34:31,800 --> 00:34:33,800
Speaker 3: let's invest the rest of it, because I want to

754
00:34:33,840 --> 00:34:37,600
Speaker 3: have that buffer so that realistically, if I was tomorrow

755
00:34:37,760 --> 00:34:40,400
Speaker 3: to become unable to work, okay, great, well i can

756
00:34:40,480 --> 00:34:42,719
Speaker 3: go back to earning a fifty thousand dollars a year

757
00:34:42,760 --> 00:34:44,640
Speaker 3: income or a forty five thousand dollar a year income,

758
00:34:44,960 --> 00:34:47,360
Speaker 3: and I've got savings, I've got investments, and I was

759
00:34:47,600 --> 00:34:49,279
Speaker 3: I'm still living on that income now, it's just the

760
00:34:49,360 --> 00:34:52,239
Speaker 3: spare money's gone elsewhere, Like it's not my money to touch.

761
00:34:52,440 --> 00:34:55,200
Speaker 2: It's crazy to me because that's my mentality. And like

762
00:34:55,880 --> 00:34:58,160
Speaker 2: when I hear it reflected back, I'm like, that kind

763
00:34:58,200 --> 00:35:02,839
Speaker 2: of makes no sense because you've got well, you now

764
00:35:03,120 --> 00:35:07,480
Speaker 2: have the experience in a career and have established yourself

765
00:35:07,600 --> 00:35:10,719
Speaker 2: so much so that even if she's on the money

766
00:35:10,760 --> 00:35:13,680
Speaker 2: deleted tomorrow and you couldn't work here, you could go

767
00:35:13,840 --> 00:35:16,480
Speaker 2: get a very well paying job. You're never going to

768
00:35:16,520 --> 00:35:19,600
Speaker 2: be in a situation from my perspective, where you would

769
00:35:19,840 --> 00:35:23,040
Speaker 2: go and get an income of less than fifty thousand dollars.

770
00:35:23,480 --> 00:35:26,279
Speaker 2: But in my head, I don't know why. It must

771
00:35:26,320 --> 00:35:29,240
Speaker 2: be part of my money story, which is semi similar

772
00:35:29,280 --> 00:35:32,239
Speaker 2: to yours, that I wasn't given anything, I didn't grow

773
00:35:32,360 --> 00:35:35,160
Speaker 2: up really wealthy. I kind of always go, oh, well,

774
00:35:35,200 --> 00:35:37,400
Speaker 2: I could always fall back on that. I could always

775
00:35:37,480 --> 00:35:40,200
Speaker 2: and like I forget that. I do have investments and

776
00:35:40,280 --> 00:35:44,520
Speaker 2: I have created that cushion. Does that feel real to

777
00:35:44,640 --> 00:35:47,960
Speaker 2: you yet or are you still I will always being

778
00:35:48,080 --> 00:35:50,239
Speaker 2: for the worst. Yeah, I will always be poor in

779
00:35:50,320 --> 00:35:50,680
Speaker 2: my head.

780
00:35:50,800 --> 00:35:53,640
Speaker 3: Like if anyone's a Perth local THEO, I'll know I

781
00:35:53,719 --> 00:35:56,120
Speaker 3: grew up in the Gospel's armad i'le region. Okay, when

782
00:35:56,120 --> 00:35:57,640
Speaker 3: I say that I did not grow up with money,

783
00:35:58,040 --> 00:36:00,560
Speaker 3: I did not grow with money and my head, I

784
00:36:00,600 --> 00:36:02,680
Speaker 3: will always be that person, like I will never not

785
00:36:02,800 --> 00:36:05,239
Speaker 3: be poor. So like even as I have investments or

786
00:36:05,280 --> 00:36:07,520
Speaker 3: like my network changes in my head, that's not that

787
00:36:07,560 --> 00:36:10,000
Speaker 3: money's not real because I don't physically have it, which

788
00:36:10,120 --> 00:36:12,600
Speaker 3: also feels good because I never I'm not going out

789
00:36:12,600 --> 00:36:16,160
Speaker 3: and buying designer stuff. I'm not like doing anything fancy.

790
00:36:16,239 --> 00:36:18,560
Speaker 3: I literally don't even know no home, so none of

791
00:36:18,600 --> 00:36:21,160
Speaker 3: it's real until it's real. So I think it's until

792
00:36:21,200 --> 00:36:24,560
Speaker 3: I actually retire. I think that someone could tomorrow could

793
00:36:24,560 --> 00:36:26,399
Speaker 3: come along and take all my investments and go, hah,

794
00:36:26,560 --> 00:36:27,400
Speaker 3: you're kidding.

795
00:36:27,320 --> 00:36:29,920
Speaker 2: That's not yours. Like it'sn't it crazy that we get

796
00:36:29,960 --> 00:36:33,680
Speaker 2: imposter syndrome investments as well? Like sorry, we thought we

797
00:36:33,760 --> 00:36:35,600
Speaker 2: could control ourselves. You cannot.

798
00:36:35,840 --> 00:36:38,280
Speaker 3: Like I have an emergency fund, and I get scared

799
00:36:38,360 --> 00:36:40,960
Speaker 3: taking money out of my emergency fund, even if I

800
00:36:41,040 --> 00:36:41,880
Speaker 3: need it for an emergency.

801
00:36:42,080 --> 00:36:44,520
Speaker 2: I feel like that's very relatable though, because so many

802
00:36:44,560 --> 00:36:47,719
Speaker 2: people message you see the messages from She's on the Money,

803
00:36:47,719 --> 00:36:49,480
Speaker 2: People are like, oh my god, I feel so guilty.

804
00:36:49,560 --> 00:36:52,400
Speaker 2: I used my emergency fund and more chat with you

805
00:36:52,520 --> 00:36:55,960
Speaker 2: will be like, oh my god, what for And they'll say, oh,

806
00:36:56,040 --> 00:36:58,800
Speaker 2: an emergency debt bill or my tire broke and I

807
00:36:58,880 --> 00:37:00,719
Speaker 2: had to get I'm like, hold on, hold on, can

808
00:37:00,719 --> 00:37:03,520
Speaker 2: we just backtrack? Is that not what that's what it

809
00:37:03,800 --> 00:37:05,600
Speaker 2: was for? Why are we feeling guilty?

810
00:37:05,719 --> 00:37:05,879
Speaker 1: Though?

811
00:37:06,440 --> 00:37:09,880
Speaker 2: Anyway, I think it's really really interesting learning about your

812
00:37:09,920 --> 00:37:12,719
Speaker 2: investment strategy. And I think the community is going to

813
00:37:13,280 --> 00:37:16,080
Speaker 2: have loved the openness because I think that it is

814
00:37:16,280 --> 00:37:19,160
Speaker 2: very hard for people, you know, to come on the

815
00:37:19,200 --> 00:37:21,320
Speaker 2: she's on the money platform and say well, this is

816
00:37:21,320 --> 00:37:23,120
Speaker 2: how much I invest, this is how I invest, this

817
00:37:23,200 --> 00:37:25,719
Speaker 2: is where I invest, and we want to go down

818
00:37:25,800 --> 00:37:28,040
Speaker 2: this route a little bit more in the future. So

819
00:37:28,080 --> 00:37:29,680
Speaker 2: if you've listened to this and you're like, oh my god,

820
00:37:29,760 --> 00:37:32,000
Speaker 2: I have an investing diary that I would love to share,

821
00:37:32,520 --> 00:37:35,279
Speaker 2: it can be completely anonymous, talk to me. Slide into

822
00:37:35,360 --> 00:37:38,760
Speaker 2: our dms. Doesn't have to be anonymous either, it's completely

823
00:37:38,800 --> 00:37:40,719
Speaker 2: on your term. So I would be sliding into our

824
00:37:40,800 --> 00:37:43,960
Speaker 2: dms because we want more content like this because the

825
00:37:44,120 --> 00:37:46,719
Speaker 2: only way, or from my perspective, you can read a

826
00:37:46,800 --> 00:37:50,520
Speaker 2: million things on Reddit, brook I guarantee that by listening

827
00:37:50,600 --> 00:37:52,680
Speaker 2: to stuff like this, you go, oh, it's actually not

828
00:37:52,800 --> 00:37:54,719
Speaker 2: that scary. I could do it. Yeah, I could do it.

829
00:37:55,200 --> 00:37:58,640
Speaker 2: I could do it. So, unfortunately, Brooke, that is all

830
00:37:58,719 --> 00:38:02,240
Speaker 2: we have time for today. I really appreciate how often

831
00:38:02,280 --> 00:38:04,160
Speaker 2: you have been with the community, and I just know

832
00:38:04,280 --> 00:38:06,440
Speaker 2: that they're going to be so obsessed with hearing from you.

833
00:38:06,680 --> 00:38:10,440
Speaker 2: And I think that learning about investing it can be overwhelming.

834
00:38:10,600 --> 00:38:12,440
Speaker 2: When you start at the start, it feels like you're

835
00:38:12,440 --> 00:38:15,600
Speaker 2: going nowhere. When you invest, even your first five thousand dollars,

836
00:38:15,680 --> 00:38:17,560
Speaker 2: you just go, well, what's that even going to do?

837
00:38:18,000 --> 00:38:21,960
Speaker 2: But consistency means that Brook can potentially retire by the

838
00:38:22,000 --> 00:38:25,960
Speaker 2: age of thirty five, which is very exciting. Guys, if

839
00:38:26,040 --> 00:38:29,520
Speaker 2: you have loved this episode, we would really appreciate it,

840
00:38:29,640 --> 00:38:31,920
Speaker 2: and our content team would really appreciate She's going to

841
00:38:31,920 --> 00:38:33,600
Speaker 2: give us a five hour review. So this was worth

842
00:38:33,680 --> 00:38:37,279
Speaker 2: my time exactly because it genuinely helps us bring you

843
00:38:37,480 --> 00:38:39,480
Speaker 2: more of the content that you love, and it lets

844
00:38:39,560 --> 00:38:41,640
Speaker 2: us know that you want more juicy behind the scenes

845
00:38:41,719 --> 00:38:43,680
Speaker 2: chats like this one. I know you're probably feeling all

846
00:38:43,760 --> 00:38:46,319
Speaker 2: kinds of inspired right now and ready to channel your

847
00:38:46,360 --> 00:38:48,920
Speaker 2: inner Brook and start building your own wealth. And you

848
00:38:49,000 --> 00:38:51,439
Speaker 2: know what, Brook and I, we've actually made that really

849
00:38:51,640 --> 00:38:55,439
Speaker 2: ridiculously easy for you. Yeah, and we've pulled together all

850
00:38:55,560 --> 00:38:58,640
Speaker 2: of our best investing resources into one spot on the

851
00:38:58,719 --> 00:39:00,960
Speaker 2: She's on the Money website and inside that She's on

852
00:39:01,000 --> 00:39:04,799
Speaker 2: the Money Investing master class. When Brooke said she had

853
00:39:04,840 --> 00:39:08,800
Speaker 2: to read nine investing books, it's because I'm crazy. It

854
00:39:08,920 --> 00:39:11,080
Speaker 2: was actually horrible. I did not want to miss a thing.

855
00:39:11,480 --> 00:39:13,640
Speaker 2: We did not want to miss a thing. I wanted

856
00:39:13,680 --> 00:39:15,759
Speaker 2: to make sure we dotted every single I crossed every

857
00:39:15,760 --> 00:39:17,759
Speaker 2: single tea if I was saying something, it had to

858
00:39:17,800 --> 00:39:20,400
Speaker 2: be fact checked twice. I'm going to link it in

859
00:39:20,480 --> 00:39:22,360
Speaker 2: the show notes for you and you can soak up

860
00:39:22,480 --> 00:39:24,640
Speaker 2: all of the knowledge to put yourself in the best

861
00:39:24,920 --> 00:39:27,800
Speaker 2: possible position. We will see you back here on Friday

862
00:39:27,840 --> 00:39:30,200
Speaker 2: for another episode. Bye guys by DearS.

863
00:39:36,120 --> 00:39:38,640
Speaker 4: Did buy shared on She's on the Money is general

864
00:39:38,719 --> 00:39:42,520
Speaker 4: in nature and does not consider your individual circumstances. She's

865
00:39:42,600 --> 00:39:46,000
Speaker 4: on the Money exists purely for educational purposes and should

866
00:39:46,080 --> 00:39:49,240
Speaker 4: not be relied upon to make an investment or financial decision.

867
00:39:49,640 --> 00:39:52,080
Speaker 4: If you do choose to buy a financial product, read

868
00:39:52,120 --> 00:39:55,360
Speaker 4: the PDS TMD and obtain appropriate financial.

869
00:39:55,040 --> 00:39:56,760
Speaker 2: Advice tailored towards your needs.

870
00:39:57,200 --> 00:40:01,080
Speaker 4: Victoria Divine and She's on the Money are authorized representatives

871
00:40:01,200 --> 00:40:03,520
Speaker 4: of money. Sheper p T Y L t D A

872
00:40:03,680 --> 00:40:06,560
Speaker 4: B N three two one six four nine two seven

873
00:40:06,680 --> 00:40:09,480
Speaker 4: seven zero eight A F S L four five one

874
00:40:09,719 --> 00:40:10,520
Speaker 4: two eight nine