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Speaker 1: My name Isatasha Bamblet. I'm a proud First Nations woman,

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Speaker 1: and I'm here to acknowledge country te glennyan Ganya, Niana,

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Speaker 1: Kaka Yahi and Binahwaka nian our gha in Mbini, yakarum Jar, Dominyagumika, Dumaga,

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Speaker 1: Ihowaka nile Waman damon Immalan Bumba bang Gadabomba in and

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Speaker 1: now in wakah ghana on yakarum Jar water Nadaa. Hello,

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Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.

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Speaker 1: We thank acknowledge and respect the Abiginal people's land that

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Speaker 1: we're gathering on today. Take pleasure in all the land

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Speaker 1: and respect all that you see. She's on the Money

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Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,

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Speaker 1: knowledge and resources for you to thrive.

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Speaker 2: She's on the Money. She's on the Money. Friday is

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Speaker 2: our favorite day of the week because it's when we

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Speaker 2: get our team together and celebrate you ow incredible. She's

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Speaker 2: on the Money community today, Mis Jessic Greed she is

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Speaker 2: going to be sharing some of our favorite community money wins.

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Speaker 2: Miss Beck Sayed is going to be sharing your brook

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Speaker 2: tips of the Week, and we'll be helping to answer

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Speaker 2: a money dilemma that asks us the question should you

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Speaker 2: use a self managed super fun to buy property? And

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Speaker 2: a DM that is leading to our inboxes about whose

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Speaker 2: responsibility is it to pay for your parents' funeral costs?

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Speaker 3: Oh?

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Speaker 2: Is it them?

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Speaker 3: Or is it you?

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Speaker 2: I feel like that's a hard one to answer. Yeah,

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Speaker 2: I thought the best way to dive back into a

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Speaker 2: Friday episode would be with a five at start review.

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Speaker 2: Would you like to hear it?

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Speaker 4: Absolutely please?

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Speaker 2: So we've got this one. It is from our friend Holly,

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Speaker 2: not actually our friend, just our community member. She's just

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Speaker 2: a friend we haven't met yet. Shout out to Jess.

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Speaker 2: I love this podcast. I'm purely here as not enough

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Speaker 2: reviews do justice for the legend that is Miss Jessicarucci

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Speaker 2: pronounced in Victoria's voice. Of course, she is legit incredible,

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Speaker 2: ridiculously well spoken and intelligent. I mean, awe of how

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Speaker 2: well balanced her views and appinions are. And I'm not

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Speaker 2: even gonna lie. Even at work, I try to channel

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Speaker 2: my inner jess Arici as She's just beyond professional and approachable.

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Speaker 2: So Jess, this is for you. You are five stars

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Speaker 2: and I guess so is this podcast. Oh my god,

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Speaker 2: I could not agree more.

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Speaker 5: Guys, Holly, you are my queen. I love you so much.

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Speaker 5: That's literally the nice thing anyone ever said about me.

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Speaker 5: Thank you.

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Speaker 2: Suggest you are five stars. I'm going to agree. I'm

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Speaker 2: going to put that in my slack bio just five stars.

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Speaker 3: Absolutely.

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Speaker 5: Oh that's so nice. It's such a joy to know

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Speaker 5: that people listen and that we're doing something and helping them.

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Speaker 5: And I don't really feel like I'm that good or special.

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Speaker 5: That's so nice of you to say, she sit down.

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Speaker 5: That adds to your charm. Get in the bin.

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Speaker 2: Let's move on from that, because I think that Beck

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Speaker 2: and I could go on all day about how much

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Speaker 2: we like Jess. But it is time for that part

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Speaker 2: of Friday Drinks where you guys get to ask us

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Speaker 2: one question that you are dying to know, and it

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Speaker 2: can be literally about anything. This week's question comes from Nicole,

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Speaker 2: who wants to know what is your number one tip

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Speaker 2: for soul traders? And you guys are both sole traders

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Speaker 2: true indeed were qualified to answer question.

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Speaker 4: Oh my god. Okay, Well, my only thing I think

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Speaker 4: maybe would be to start taking note of every single

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Speaker 4: thing you buy and then claiming on tax.

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Speaker 2: And that's all I have because I don't know thing

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Speaker 2: you buy in your just day to day life, like

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Speaker 2: brown onions.

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Speaker 4: Everything, brown onions everything, Because I feel like if you're

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Speaker 4: a sole trader, you can really get away with claiming

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Speaker 4: some random things.

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Speaker 5: You know, and I could be wrong, and I would

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Speaker 5: definitely make sure you speak to a tax experts anything

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Speaker 5: that you are trying to Yes, yes, I.

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Speaker 4: Don't ever save the tax that I should be paying

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Speaker 4: on things, which is like not good. So I think

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Speaker 4: that my only advice is to save what you buy

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Speaker 4: in case you can claim it.

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Speaker 2: You sneaky suspicion. I know what jess is is. Yes,

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Speaker 2: we'll be talking about this the other day.

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Speaker 5: I think we were, Yes, I is your invoicing is

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Speaker 5: gonna get your invoicing sorted? And I would highly recommend

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Speaker 5: Solo by Moyob not sponsored. This is gonna sound I

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Speaker 5: can add because we were talking about it, and when

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Speaker 5: I was telling you, you were like you sounded like

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Speaker 5: you we.

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Speaker 2: Are literally good girl? Are they paying you? Because they

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Speaker 2: should be so.

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Speaker 5: MIOB is obviously like a large accounting software, but they

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Speaker 5: have a separate program called Solo which is specifically designed

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Speaker 5: for soul traders, and the reason to do so fantastic

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Speaker 5: is I have sent every invoice to every client this

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Speaker 5: financial year from my phone in like five seconds. It's

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Speaker 5: so easy, it's so professional. It auto follows people up,

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Speaker 5: which is a big one for me because I feel

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Speaker 5: a bit awkward being like, hey, you haven't made my invoice,

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Speaker 5: so I love like you funny how you'll do that

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Speaker 5: for me though, Yeah, absolutely, But when it's for me

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Speaker 5: follow up an invoice ceremony like a hound, she'll be like, no,

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Speaker 5: that's actually unacceptable.

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Speaker 2: When it's her, if you're like, it's fine, don't worry

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Speaker 2: about it.

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Speaker 3: It was on me.

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Speaker 2: Yeah, So it's so good.

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Speaker 5: You just like toggle the thing. It does it for you.

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Speaker 5: And the best bit is it's twelve dollars for your

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Speaker 5: first twelve months. That was when I want it, and

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Speaker 5: I double checked it this morning.

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Speaker 2: Because you were like, I know, Victoria is gonna.

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Speaker 5: One hundred percent. It is still twelve dollars for your

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Speaker 5: first twelve months, which is unbelievably cheap, and even when

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Speaker 5: you're paying full price, it's so much less expensive than

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Speaker 5: like a big fancy accounting software, which, like for she's

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Speaker 5: on the money. We need the big fancy accounting software.

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Speaker 5: But for me as an individual, that costs me.

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Speaker 2: It's not cheap, But but that scares small players off.

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Speaker 2: You're like, oh, it's going to be like sixty or

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Speaker 2: seventy bucks a month. That's astronomical, like not in your

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Speaker 2: first year.

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Speaker 5: Yeah, And it's just nice having it all in somewhere

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Speaker 5: because my first few years I was just making my

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Speaker 5: invoices in like a microsoftware document, which is fine and

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Speaker 5: does the job, but then it's hard to keep track

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Speaker 5: of everything, what's been reconciled, what hasn't. You can like

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Speaker 5: connect it to your bank account and it can pull

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Speaker 5: information if you want it to. Like, it's quite comprehensive. Yeah,

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Speaker 5: for the price and for the fact that it is

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Speaker 5: like a segmented product. I guess. So that is my recommendation.

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Speaker 5: Get invoices like organized, like whether you're using a program

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Speaker 5: or not, because come tax time, it's just such a

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Speaker 5: nightmare if you leave it. I used to always leave

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Speaker 5: it and then it's just so difficult. And if you

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Speaker 5: want a recommendation, that would be my one.

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Speaker 2: I like that, Yeah, she's being paid under the table.

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Speaker 2: What do you reckon if it is great. It's my

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Speaker 2: recommendation would be it's so boring. I've said this before.

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Speaker 2: It's separate bank accounts. Don't use your personal bank account

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Speaker 2: for your small business miss becsied have a separate bank

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Speaker 2: account so that even if you don't have cash to

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Speaker 2: put in it right now, and you need to put

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Speaker 2: all your payments through at least then you can track

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Speaker 2: how much money you're transferring to the business, even if

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Speaker 2: it's like thirty dollars here or there to buy supplies

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Speaker 2: or whatnot. Like, have a separate bank account so that

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Speaker 2: it's all in one place. Yeah, And then if you

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Speaker 2: want to take it a step further, which I do

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Speaker 2: want you to take it a step further, I want

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Speaker 2: you to have three different bank accounts so that you

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Speaker 2: have all of the transactions. So that's one account and

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Speaker 2: that's where the money comes in, and it's where the

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Speaker 2: money goes out. That's where clients pay you. That's really good.

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Speaker 2: We then want to have a tax account where we

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Speaker 2: transfer all of the money that is for tax, so

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Speaker 2: that it's just like set off to the side, so

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Speaker 2: that we know we're like, that's not our money. And

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Speaker 2: too many times as small business owners, money comes in

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Speaker 2: and you're like, oh, well that was only one hundred

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Speaker 2: dollars invoice, so that was only a thousand dollar invoice.

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Speaker 2: I'll just work out tax later, no worries. Later comes

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Speaker 2: and you've done that so many times that you're up

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Speaker 2: for a big tax bill and you don't have the

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Speaker 2: cash saved, so we just take it out the second

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Speaker 2: it comes in. And personally I always transfer at least

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Speaker 2: thirty percent, if not thirty five percent, because I'd prefer

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Speaker 2: it tax time to get my tax bill, pay my

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Speaker 2: tax and be like, oh, there's money left in the kiddy,

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Speaker 2: instead of having not enough and being like, oh, I

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Speaker 2: only transferred what I thought was going to be the

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Speaker 2: bare minimum, and like that's not cutting it. And the

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Speaker 2: third account is your business savings account, because not everyone

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Speaker 2: wants to take their cash straight out of their business,

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Speaker 2: and lucky position we don't. It can sit over to

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Speaker 2: the side and that can be our buffer, it can

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Speaker 2: be our emergency fund. We can see how much cash

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Speaker 2: we have that's not operating capital. And whilst you might

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Speaker 2: be just starting your small business journey and you're like, oh,

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Speaker 2: o'reading capital, who are you? It happens really quickly, like

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Speaker 2: money will start to hopefully pile up. And the reason

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Speaker 2: it will pile up is because you have a system

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Speaker 2: in place and it's not just falling through the cracks.

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Speaker 2: You're not just you know, seeing extra money in your

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Speaker 2: account and being like, oh, I'm going to get grilled

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Speaker 2: this week, and it just goes away real quick and

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Speaker 2: you're like, hold on, this business is making no money.

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Speaker 2: But come tax time, the taxman is like, Beck, you

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Speaker 2: haven't actually a lot of money and you've just thought

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Speaker 2: it was spendable. So that would be my hot tip

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Speaker 2: is just set up your bank accounts.

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Speaker 5: A bit of structure goes all the way.

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Speaker 2: That's right. Well, I feel like those are three hot tips.

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Speaker 2: You're welcome, guys, And if you've got a question that

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Speaker 2: you want us to answer, please leave it in the

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Speaker 2: comments here on Spotify if you're on Spotify otherwise, shoot

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Speaker 2: us a message. Just be brazen, be like, I want

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Speaker 2: you to answer this on your Friday drinks and we'll

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Speaker 2: come for it now. Miss jess Arici. When it comes

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Speaker 2: to community money wins and or confessions, what have.

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Speaker 5: You got Furstday this week? I've got one from Kayler,

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Speaker 5: which she said is a money win that's turned into

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Speaker 5: a money loss. She bought a uv gel nail kit

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Speaker 5: and has been doing them successfully for herself for the

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Speaker 5: past three times. On her fourth go though, a little

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Speaker 5: bit of the acetone splashed unexpectedly from the container onto

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Speaker 5: her partner's concrete dining table. No, she had a towel

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Speaker 5: directly under her hands to catch any drips, but she

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Speaker 5: said it sprayed off the side. It eroded the finish

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Speaker 5: in the ceiling, and she's now going to have to

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Speaker 5: pay to get it sand and polished, and it's going

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Speaker 5: to cost quite a bit of money. So she just said, persa,

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Speaker 5: everybody cover the entire workspace just to make sure you

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Speaker 5: don't have any little incidents, which is very good advice.

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Speaker 2: Okay, but even if it was.

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Speaker 4: Like my laptop and my partner broke it, I'd be like,

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Speaker 4: that's okay, I'll pay for that.

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Speaker 2: You break it, you buy it. Oh my god, is

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Speaker 2: it mean?

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Speaker 3: I think?

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Speaker 5: So this is what was the dilemma the TV and

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Speaker 5: the ladder when we all had very different opinions. Oh yeah, anyway,

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Speaker 5: that's a really good appen but.

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Speaker 2: That's a different story.

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Speaker 3: Then.

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Speaker 2: I think I'm triggered by this because growing up I

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Speaker 2: loved to you know, play nail polish and cosmetics. And

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Speaker 2: my dad would always be like, do not have that

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Speaker 2: stuff open in your room? Rah rah, yeah, and he

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Speaker 2: would warn us. And I'm assuming that this person maybe

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Speaker 2: has been warned, like, don't have acetone and stuff on

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Speaker 2: the table, Like it's a concrete table. You can't do this, rarah.

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Speaker 2: If you've been warned and then you do it anyway

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Speaker 2: and you didn't properly protect it, and then sure then

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Speaker 2: it happened. That does feel different. Yeah, it's not like

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Speaker 2: a like it is an accident and it really sucks,

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Speaker 2: but like you did it on somebody else's thing. You

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Speaker 2: weren't there helping them or anything. It wasn't like you

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Speaker 2: came over and I was helping beck and I accidentally

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Speaker 2: spilled a coffee on a laptop while explaining budgeting or

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Speaker 2: something like obviously I'd pay for that, don't worry. But

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Speaker 2: like that would be a different conversation because such a

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Speaker 2: genuine accident as opposed to oh yeah, so I didn't

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Speaker 2: probably protect your table and then I opened a bottle

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Speaker 2: of assid tonal.

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Speaker 5: Fat of acid.

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Speaker 2: In your name.

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Speaker 5: Yeah, that dilemma just takes me back.

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Speaker 2: Funny.

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Speaker 5: Next, I've got a buddy win though, from Jack, who said,

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Speaker 5: I finally got to use my blue Light Card, which

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Speaker 5: is a program that gives discounts for she said healthcare workers,

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Speaker 5: but it's actually like a lot of frontline workers. My

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Speaker 5: daughter needed a new phone wanted to spot from Apple

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Speaker 5: to Samsung. She couldn't train her old phone in because

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Speaker 5: it was broken, so she used blue Light Card, which

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Speaker 5: gave her a discount code, and then a Samsung special

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Speaker 5: applied on top of that because you can often stack them,

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Speaker 5: so she was able to get the newest phone, EarPods,

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Speaker 5: and a watch for the same price that would have

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Speaker 5: cost to get just a new phone from Apple.

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Speaker 2: Money Way.

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Speaker 5: Next, I've got a money in from Shari, who said, Witchy,

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Speaker 5: you have the best rewards program ever. They sent me

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Speaker 5: twenty dollars rewards for new season clothes, and then they

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Speaker 5: sent me another twenty dollars reward because they hadn't seen

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Speaker 5: me for a while. She said she needed work shorts.

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Speaker 5: They were on sale from one hundred and thirty to fifty.

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Speaker 5: Then she used the reward, so it ended up only

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Speaker 5: costing her nine to ninety five dollars out of pocket

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Speaker 5: and she doesn't have to pay for postage. Because she's

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Speaker 5: a Silver Rewards member stacking them up. I know she's

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Speaker 5: really had a role, very well done. Next, I've got

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Speaker 5: a money in from Chassis, who said she saved twenty

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Speaker 5: dollars on fuel by using the free petrol Spy app.

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Speaker 5: She scouted where the cheapest fuel was and then decided

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Speaker 5: to lock in on her seven eleven app. When she

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Speaker 5: did her usual market visit, she got the lowest price

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Speaker 5: and it was twenty five cents per leater, cheaper than

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Speaker 5: other places. Nice and the locking last for seven days,

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Speaker 5: so she did again immediately after filling up.

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Speaker 2: Amazing.

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Speaker 4: I love, first of all, petrol Spy, but also this

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Speaker 4: bloody fuel lock thing.

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Speaker 5: Fuel is so good, I know, and I think we

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Speaker 5: all need to be using it because it seems like

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Speaker 5: there's gonna all the warnings around shortages of oil and

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Speaker 5: things like that with everything happening in the Middle East

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Speaker 5: at the moment. So I would highly recommend everybody if

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Speaker 5: you're not using a fuel lock or a petrol spy

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Speaker 5: or something. Everyone's kind of predicting prices are really going

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Speaker 5: to elevate, so it's going to pay to shop around.

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Speaker 2: I think. Yeah.

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Speaker 5: And then lastly, this week, I have a money when

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Speaker 5: from a curse who said I got serious about my

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Speaker 5: debt at the end of last year. This week I

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Speaker 5: paid off my credit card and I'm on track to

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Speaker 5: be debt free by May.

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Speaker 2: Amazing.

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Speaker 5: That's amazing, that's great.

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Speaker 2: I love it. Well, that was a good little wrap up, Jess,

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Speaker 2: Miss beckses, what are your broke tips?

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Speaker 4: Okay, so this week, as per, I have two from

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Speaker 4: the community. The first one comes from Ellie, who says

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Speaker 4: a Dyson stick vacuum stopped working. Instead of buying a

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Speaker 4: new one for six hundred dollars, we bought a new

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Speaker 4: battery for fifty eight dollars, which is a great idea.

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Speaker 4: It's like new, she said. She used Ossie battery dot com.

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Speaker 4: But there are others too, so I suppose you could

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Speaker 4: get like, I don't know, like I've got a little roboback.

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Speaker 2: I'm sure if it broke, it's me. It feels very

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Speaker 2: time relevant because this week my Dyson stickfax head got broken.

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Speaker 2: Oh that was my toddler's fault, but like cracked, you

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Speaker 2: know how they're plastic, And I was like, oh, oh

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Speaker 2: my goodness, I'll buy a new one. And I look

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Speaker 2: it up and because I've got like I think, hold on,

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Speaker 2: I know what I've got because I looked it up.

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Speaker 2: I've got the the eleven, absolute gorgeous. But she's old. Yeah,

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Speaker 2: like she's at least five years old, but I'm not

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Speaker 2: ready to give her up. Like she's still good, but

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Speaker 2: I need the new head. And I'm not paying two

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Speaker 2: hundred dollars for a new thing for my vacuum that's

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Speaker 2: five years old. That makes no sense. Ali Express came

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Speaker 2: in clutch. Has it arrived yet No, But it was

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Speaker 2: twenty one dollars and it had like five thousand and

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Speaker 2: five star reviews of people being like, this is exactly

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Speaker 2: the same Rarah, So twenty one dollars and I have

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Speaker 2: a new vacuum head coming. That then inspired me to

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Speaker 2: look up other parts for my other appliances at home.

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Speaker 2: And sorry, Bissel, but your filters are two damn expensive.

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Speaker 2: I bought like five to five dollars on Ali Express.

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Speaker 2: They're coming. I'm going to trial out those, so talk

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Speaker 2: to me about this later. But I did go down

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Speaker 2: a deep dive of all of the reviews. Everyone's this

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Speaker 2: is really good.

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Speaker 5: So yeah, I get my little brushy things for my

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Speaker 5: room bath from Amazon there you go. It's amazing what

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Speaker 5: you can do, like it's not broken, like to see

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Speaker 5: if you can fix that.

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Speaker 4: Yes, completely agreat that's cheap market products. I don't know

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Speaker 4: what it is about, like vacuum clean is specifically. I

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Speaker 4: get so like attached to them, like they're humans. And

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Speaker 4: I could hear you guys like seeing she and like

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Speaker 4: I'm like me too.

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Speaker 2: I feel so like my vacuum attached to the friends.

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Speaker 2: I'll tell you about my way back. Oh okay.

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Speaker 4: This sex one comes from Carli, who says you can

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Speaker 4: swap Telsterra points for wools and Coal's vouches.

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Speaker 2: That's so cool.

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Speaker 5: That's really good.

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Speaker 4: I got three hundred dollars worth and I'm very happy.

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Speaker 4: And I can't tell if she means she got three

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Speaker 4: hundred dollars worth of Colson will Wars vouches or she

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Speaker 4: got three hundred dollars worth of Testra points, but anyway,

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Speaker 4: either way, that sounds incredible.

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Speaker 2: Thank you, Carl. And my one for this week.

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Speaker 4: There is an initiative through Brotherhood of Saint Lawrence called

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Speaker 4: Savor Plus. If you have a healthcare card and received

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Speaker 4: send link and you're at UNI or you have a

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Speaker 4: child in school through the program. If you say five

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Speaker 4: hund dollars into an AZT account, they will match it

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Speaker 4: with another five hundred dollars. What then the money can

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Speaker 4: be used.

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Speaker 2: For school stuff. That's so good to the people who

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Speaker 2: need it the most.

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Speaker 4: Yes, exactly, And that make me think about Dolomites And

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Speaker 4: if anyone knows where they went, let me know, because

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Speaker 4: I'm really broke right now, and if I can find

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Speaker 4: my dollar year account Dolarmites account, you didn't.

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Speaker 2: Have at least three dollars. Sorry Dolomites. Also sorry to

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Speaker 2: us because where where where is that money you got?

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Speaker 2: That's incredible you got done. Anyway, let's go to a

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Speaker 2: really quick break because on the flip side, we are

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Speaker 2: going to go into a community dilemma because a lot

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Speaker 2: of you have questions about property in SMSF and we're

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Speaker 2: going to be talking about parents' general costs. Who's meant

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Speaker 2: to foot the bill? Don't go anywhere.

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Speaker 5: Welcome back, everybody. Let's take a listen to this week's

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Speaker 5: money dilemma.

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Speaker 2: Hi, there, have you got a money dilemma you just

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Speaker 2: can't solve. The Sheese on the Money Team is here

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Speaker 2: to help. Every week we tackle your dilemmas both big

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Speaker 2: and small to answer your most burning money, career and

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Speaker 2: life questions. To get involved, simply head to our website

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Speaker 2: and leave us a short voice recording and you might

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Speaker 2: just find yourself on the show. Now, let's take a

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Speaker 2: listen to this week's money dilemma.

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Speaker 3: Hi, team, I was hoping you'd be able to talk

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Speaker 3: about self managed super funds. I've heard of people who've

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Speaker 3: managed to purchase investment properties before preservation age and have

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Speaker 3: access to that money. I'm wondering how that works, what

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Speaker 3: the logistics are, and potentially what the benefits of a

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Speaker 3: self managed superfund are, and whether or not it's only

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Speaker 3: really your benefit if you're older, or whether it's something

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Speaker 3: worth looking into now at a younger age. For context,

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Speaker 3: I'm twenty five. I've only had a few years of

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Speaker 3: income contributing to my super So wondering if it's something

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Speaker 3: that's worth looking into now or considering further down the line.

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Speaker 2: Thank mister Sagricci. How do I feel about SMSs.

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Speaker 5: I'm going to take you stap and say not a fan?

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Speaker 2: Take I why? I know? Not a fan? So n

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Speaker 2: SOMSF is a self managed super fund and it's basically

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Speaker 2: where you take all of the money that is in

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Speaker 2: a retail fund and you move it to You could

403
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Speaker 2: honestly have it all just in a bank account. You

404
00:18:16,000 --> 00:18:18,800
Speaker 2: could have it in cash, or you pick your own investments,

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Speaker 2: but essentially you become the manager of that super fund,

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Speaker 2: so no one's picking your investments. You have one hundred

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Speaker 2: percent control. And for a lot of people that sounds

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Speaker 2: so attractive because they're like, well, I can do it myself,

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Speaker 2: and a lot of the drawer card is people will say,

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Speaker 2: oh my gosh, super fees is so much like it

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Speaker 2: makes sense to run it myself, Like I'm better at

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Speaker 2: picking I could just do X, y Z. A lot

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Speaker 2: of people have this idea that buying property inside super

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Speaker 2: is really easy and a really good idea, and it

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Speaker 2: can be quite romanticized, right, like buying property in this

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Speaker 2: economy so hard. The idea that you might have I

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Speaker 2: don't know, fifty or one hundred thousand dollars in your

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Speaker 2: super You're like, why can't I access that for property,

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Speaker 2: Like it's a good question, but the reality of the

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Speaker 2: situation is that that is for your retirement and right now,

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Speaker 2: if you're in an Australian super or a UNI super

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Speaker 2: or a HOST plus or a hestyle or whatever you're

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Speaker 2: in that is going to be well diversified. It is

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Speaker 2: gonna be in a fund that has been picked for you,

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Speaker 2: whether that is you know, the balanced portfolio that you

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Speaker 2: probably got when you turned fourteen nine months and got

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Speaker 2: your first job, or the growth portfolio you picked because

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00:19:26,200 --> 00:19:28,080
Speaker 2: you've been listening to shoes on the money. Did you

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Speaker 2: risk profile? But it's going to be well diversified, and

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Speaker 2: that is a good position to be in because you

431
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Speaker 2: are hedging the risk of any different economic downturns. If

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Speaker 2: gold's not performing, that's fine, because you've got some tech.

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Speaker 2: If tech's not performing, you've got some health care. Like

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Speaker 2: there's lots going on. If you take all of that

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Speaker 2: cash out and put it into one asset, I eat

436
00:19:48,440 --> 00:19:52,320
Speaker 2: a house. What happens if property isn't performing. We know

437
00:19:52,600 --> 00:19:55,639
Speaker 2: that property is unable to perform in the way that

438
00:19:55,720 --> 00:19:58,320
Speaker 2: it has over the last forty years and be sustainable.

439
00:19:58,560 --> 00:20:01,040
Speaker 2: You can't look at that and go that reliable predictor

440
00:20:01,080 --> 00:20:02,800
Speaker 2: of what's going to happen into the future because it's

441
00:20:02,960 --> 00:20:06,240
Speaker 2: just not. Yes, we are seeing property markets go crazy. Yes,

442
00:20:06,320 --> 00:20:09,159
Speaker 2: you might see that as a deposit, but it's a

443
00:20:09,200 --> 00:20:12,280
Speaker 2: lot more complicated than that. Now. I haven't been a

444
00:20:12,359 --> 00:20:15,000
Speaker 2: financial advisor for a number of years now, but when

445
00:20:15,040 --> 00:20:18,520
Speaker 2: I was a financial advisor, I would always say to people,

446
00:20:18,840 --> 00:20:21,720
Speaker 2: if you don't have two hundred thousand dollars in SUPER,

447
00:20:21,800 --> 00:20:25,040
Speaker 2: I wouldn't even consider a self managed super fund. And

448
00:20:25,240 --> 00:20:28,440
Speaker 2: now I would confidently say, if you don't have half

449
00:20:28,480 --> 00:20:31,359
Speaker 2: a million dollars in your super, I wouldn't consider it.

450
00:20:31,720 --> 00:20:34,639
Speaker 2: And the reason is because legislation has tightened up. The

451
00:20:35,080 --> 00:20:37,800
Speaker 2: compliance of these funds have tightened up because lots of

452
00:20:37,800 --> 00:20:40,400
Speaker 2: people were kind of taking the mickey, and so the people.

453
00:20:40,240 --> 00:20:42,360
Speaker 5: Say before on the show, oh I bought a burken

454
00:20:42,600 --> 00:20:44,320
Speaker 5: Oh yeah, I bought some art or whatever.

455
00:20:44,240 --> 00:20:46,600
Speaker 2: With my I did whatever I wanted. Some people are

456
00:20:46,640 --> 00:20:48,359
Speaker 2: getting it out and saying that they're spending it on

457
00:20:48,440 --> 00:20:50,359
Speaker 2: one thing and doing something else. So the government is

458
00:20:50,400 --> 00:20:54,680
Speaker 2: cracking down because it's for your financial future, like the

459
00:20:54,760 --> 00:20:57,360
Speaker 2: government wants you to have super. In fact, you want

460
00:20:57,400 --> 00:20:59,200
Speaker 2: you to have SUPER so that you could be comfortable.

461
00:20:59,280 --> 00:21:02,280
Speaker 2: But the reality is compliance has increased and whilst you

462
00:21:02,400 --> 00:21:05,520
Speaker 2: might not have to pay fees for fund management, you

463
00:21:05,640 --> 00:21:07,800
Speaker 2: have to pay auditing fees every single year. For an

464
00:21:07,840 --> 00:21:10,239
Speaker 2: accountant to go through it and audit your account now

465
00:21:11,040 --> 00:21:15,040
Speaker 2: and SMSF fees sit between anywhere. Honestly, you could probably

466
00:21:15,040 --> 00:21:17,080
Speaker 2: get a cheap accountant for five and a half thousand

467
00:21:17,160 --> 00:21:19,600
Speaker 2: dollars each year. All the way up to ten thousand

468
00:21:19,640 --> 00:21:22,080
Speaker 2: dollars is quite normal for what I have seen and

469
00:21:22,240 --> 00:21:25,000
Speaker 2: know is what is charged. Then what are you going

470
00:21:25,080 --> 00:21:27,679
Speaker 2: to do? Invest it into an ETF yourself. You're going

471
00:21:27,720 --> 00:21:30,199
Speaker 2: to be paying fees on that ETF anyway, You're going

472
00:21:30,280 --> 00:21:33,040
Speaker 2: to be paying platform fees anyway. Are you going to

473
00:21:33,080 --> 00:21:35,560
Speaker 2: sort your own insurances out? Like there's just so much

474
00:21:35,680 --> 00:21:38,960
Speaker 2: to it and then I'm going to strip the romance

475
00:21:39,000 --> 00:21:41,920
Speaker 2: off it. So I own a mortgage braking company called

476
00:21:42,000 --> 00:21:44,520
Speaker 2: Zela Money and we do this all the time. Yes,

477
00:21:45,080 --> 00:21:48,800
Speaker 2: I do have my team right loans for property inside

478
00:21:48,920 --> 00:21:53,320
Speaker 2: SMSF It is very popular. But when people are purchasing

479
00:21:53,440 --> 00:21:58,520
Speaker 2: them or purchasing property inside smsfs, they from experience, they

480
00:21:58,560 --> 00:22:01,800
Speaker 2: are usually business owners purchase commercial property to then lease

481
00:22:01,920 --> 00:22:04,560
Speaker 2: back to themselves or back to their own businesses. I'm

482
00:22:04,640 --> 00:22:08,959
Speaker 2: not really seeing a lot of people purchase residential property

483
00:22:09,200 --> 00:22:13,200
Speaker 2: because the yield on residential property just isn't there anymore.

484
00:22:13,680 --> 00:22:16,879
Speaker 2: Like the average property price in Melbourne and Sydney is

485
00:22:16,880 --> 00:22:20,760
Speaker 2: a million dollars, and your rental yield is going to

486
00:22:20,800 --> 00:22:23,760
Speaker 2: be like less than four or five percent, Like, you're

487
00:22:23,800 --> 00:22:25,560
Speaker 2: not going to be able to make back more than

488
00:22:25,600 --> 00:22:27,520
Speaker 2: what your mortgage us is not going to put you

489
00:22:27,600 --> 00:22:30,280
Speaker 2: in a better position. And at that point, even if

490
00:22:30,320 --> 00:22:32,480
Speaker 2: you did buy the bullet and buy a residential property,

491
00:22:32,920 --> 00:22:35,679
Speaker 2: you are putting yourself in a position where you're betting

492
00:22:35,760 --> 00:22:38,200
Speaker 2: that that property is going to increase in value enough

493
00:22:38,280 --> 00:22:41,360
Speaker 2: to then sell it to then be able to fund

494
00:22:41,440 --> 00:22:42,520
Speaker 2: your financial future.

495
00:22:42,920 --> 00:22:43,080
Speaker 3: Right.

496
00:22:43,280 --> 00:22:45,280
Speaker 2: And now, if you're looking at it and going, why

497
00:22:45,359 --> 00:22:48,600
Speaker 2: can't I spend that money on my first home, Well,

498
00:22:48,680 --> 00:22:51,639
Speaker 2: if you use your money inside your superannuation, you're not

499
00:22:51,720 --> 00:22:52,880
Speaker 2: allowed to use that property.

500
00:22:53,000 --> 00:22:53,160
Speaker 3: Yeah.

501
00:22:53,200 --> 00:22:54,119
Speaker 5: So I was going to say, it's going to be

502
00:22:54,119 --> 00:22:55,560
Speaker 5: an investment, right, It's going to be an.

503
00:22:55,480 --> 00:22:58,280
Speaker 2: Investment, and it has to be a one hundred percent

504
00:22:58,400 --> 00:23:01,280
Speaker 2: investment asset. You can't buy a property and then use

505
00:23:01,280 --> 00:23:03,919
Speaker 2: it on the weekends. It has to be one hundred

506
00:23:04,000 --> 00:23:07,159
Speaker 2: percent leased out one hundred percent of the time. You

507
00:23:07,320 --> 00:23:11,080
Speaker 2: can't use it personally. Yeah, Okay, that defeats the purpose

508
00:23:11,119 --> 00:23:12,959
Speaker 2: of why I think most people in our community are

509
00:23:13,040 --> 00:23:16,800
Speaker 2: interested in using their superfund money to get into property.

510
00:23:17,440 --> 00:23:20,000
Speaker 2: So not only is it going to be more expensive

511
00:23:20,040 --> 00:23:22,119
Speaker 2: in the long run, we are also looking at a

512
00:23:22,200 --> 00:23:25,400
Speaker 2: situation where we can't guarantee that property price is going

513
00:23:25,480 --> 00:23:28,119
Speaker 2: to increase enough to make sure that your financial future

514
00:23:28,200 --> 00:23:30,880
Speaker 2: is secure by making this decision. But then on top

515
00:23:30,960 --> 00:23:34,280
Speaker 2: of that, you think you're saving fees when in reality

516
00:23:34,480 --> 00:23:40,840
Speaker 2: we know that basic ETFs outperform self managed super funds

517
00:23:40,880 --> 00:23:44,879
Speaker 2: and self managed investments in general. Every time, like a

518
00:23:45,000 --> 00:23:47,320
Speaker 2: basic ETF is going to run rings around you in

519
00:23:47,440 --> 00:23:49,960
Speaker 2: the long term. And you, for some reason, and this

520
00:23:50,119 --> 00:23:53,240
Speaker 2: is maybe me being a little bit judgmental of the situation, you,

521
00:23:53,440 --> 00:23:55,760
Speaker 2: for some reason think that you can pick a better,

522
00:23:56,200 --> 00:24:00,640
Speaker 2: more diversified investment portfolio than the fund manager, whose entire

523
00:24:01,080 --> 00:24:03,280
Speaker 2: role and probably personality is made up of this.

524
00:24:04,440 --> 00:24:06,280
Speaker 5: Yeah, this is the only insight or comment that I

525
00:24:06,359 --> 00:24:08,119
Speaker 5: have to make on this, because it's like, so how

526
00:24:08,200 --> 00:24:11,560
Speaker 5: far off my bubble. But it's to me the equivalent

527
00:24:11,600 --> 00:24:13,360
Speaker 5: of like the average person, Like if I said, oh,

528
00:24:13,560 --> 00:24:15,120
Speaker 5: I'm going to set up a self managed super fun

529
00:24:15,200 --> 00:24:16,880
Speaker 5: because I think I can do a better job, it's

530
00:24:16,920 --> 00:24:19,439
Speaker 5: the equivalent of me saying, oh, I could perform ankle

531
00:24:19,520 --> 00:24:23,359
Speaker 5: surgery better than my doctor. But yeah, I understand that

532
00:24:23,440 --> 00:24:25,720
Speaker 5: there is so much knowledge out there, and I'm sure

533
00:24:25,800 --> 00:24:28,080
Speaker 5: that there are lay people who do have a huge

534
00:24:28,080 --> 00:24:31,119
Speaker 5: amount of information. I don't want to belittle those people.

535
00:24:31,640 --> 00:24:33,919
Speaker 5: But for the average person, even if you have an

536
00:24:34,000 --> 00:24:36,960
Speaker 5: elevated interest in finances, even if it is something that

537
00:24:37,040 --> 00:24:39,840
Speaker 5: you've listened to heaps of podcasts on or like worked

538
00:24:39,840 --> 00:24:41,560
Speaker 5: in a you know, like I've worked in a finance

539
00:24:41,600 --> 00:24:45,040
Speaker 5: company for six years now, there's no way that I

540
00:24:45,280 --> 00:24:48,719
Speaker 5: know more than a person who has studied, who has

541
00:24:48,800 --> 00:24:54,119
Speaker 5: worked in that specific niche of managing like super fund specifically, Like,

542
00:24:54,240 --> 00:24:57,600
Speaker 5: I just don't see why anybody would think that that's

543
00:24:57,640 --> 00:25:00,240
Speaker 5: an easy leap to make. Like, sometimes I think is

544
00:25:00,359 --> 00:25:03,520
Speaker 5: best to leave things to the experts, and in my opinion,

545
00:25:03,600 --> 00:25:06,080
Speaker 5: you're super fund generally speaking, probably would be one of

546
00:25:06,119 --> 00:25:09,359
Speaker 5: those things, unless for some reason your financial advisor has

547
00:25:09,400 --> 00:25:11,640
Speaker 5: recommended that it's a good choice for you, in which

548
00:25:11,680 --> 00:25:14,040
Speaker 5: case they would probably be advising you on what choices

549
00:25:14,080 --> 00:25:15,640
Speaker 5: to make anyway, so it's like you're not really making

550
00:25:15,680 --> 00:25:16,439
Speaker 5: the choices yourself.

551
00:25:16,600 --> 00:25:19,480
Speaker 2: Yeah. Yeah, I did a deep dive really long time

552
00:25:19,520 --> 00:25:22,399
Speaker 2: ago because when you're the CEO of a listed company,

553
00:25:22,480 --> 00:25:25,200
Speaker 2: you have to be quite transparent on your own investments.

554
00:25:25,520 --> 00:25:29,680
Speaker 2: So tell me why none of those big dog superannuation

555
00:25:29,920 --> 00:25:34,280
Speaker 2: fund managers have smsfs. And that tells you everything, doesn't

556
00:25:34,480 --> 00:25:36,760
Speaker 2: Why don't they? They're true And I know a lot

557
00:25:36,800 --> 00:25:39,760
Speaker 2: of people in our community have probably seen the seminars

558
00:25:39,880 --> 00:25:42,719
Speaker 2: or been to a seminar, or had someone somewhere somehow

559
00:25:42,880 --> 00:25:45,280
Speaker 2: try to sell them and off the plan apartment. And

560
00:25:45,359 --> 00:25:47,840
Speaker 2: it's okay because it's going to be a great investment

561
00:25:48,440 --> 00:25:50,360
Speaker 2: and you're going to be able to fund it through

562
00:25:50,480 --> 00:25:52,520
Speaker 2: super and we'll get the loan all sorted. And they

563
00:25:52,640 --> 00:25:55,040
Speaker 2: like do everything and they add every single bell and whistle.

564
00:25:55,560 --> 00:25:58,360
Speaker 2: Tell me how off the plan apartments have been performing recently.

565
00:25:59,440 --> 00:26:02,840
Speaker 2: They're in the b They are not good at all. Really, Yeah,

566
00:26:02,880 --> 00:26:05,359
Speaker 2: And it's a great sales tactic, Like you're telling me

567
00:26:05,480 --> 00:26:08,080
Speaker 2: that you can take somebody who doesn't have any deposit

568
00:26:08,200 --> 00:26:10,359
Speaker 2: saved at all. You can convince them to set up

569
00:26:10,359 --> 00:26:13,399
Speaker 2: an SMSF with probably a dodgy accountant who's making a

570
00:26:13,480 --> 00:26:16,400
Speaker 2: buck on their side because they're getting the referral fee. Yeah,

571
00:26:16,640 --> 00:26:18,600
Speaker 2: they'll set that up for you. You come back to

572
00:26:18,680 --> 00:26:20,560
Speaker 2: the investment company and buy one of their off the

573
00:26:20,640 --> 00:26:24,360
Speaker 2: plan apartments, like they're making clients out of non clients.

574
00:26:25,040 --> 00:26:26,440
Speaker 2: But you can't live in this off the pan, No

575
00:26:26,520 --> 00:26:28,320
Speaker 2: you can't. No, no, no, it would be an investment

576
00:26:28,440 --> 00:26:31,760
Speaker 2: only and therefore they'll be like, it's great because it's

577
00:26:31,800 --> 00:26:33,480
Speaker 2: going to increase in value. It's in the middle of

578
00:26:33,480 --> 00:26:37,640
Speaker 2: the Melbourne CBD. That's that's not how it's gonna work.

579
00:26:38,560 --> 00:26:40,200
Speaker 2: I could go on and on and on about it,

580
00:26:40,320 --> 00:26:46,400
Speaker 2: but an SMSF from my perspective, is a very risky play, unless,

581
00:26:46,560 --> 00:26:48,440
Speaker 2: as I said before, you have like half a million

582
00:26:48,480 --> 00:26:50,399
Speaker 2: dollars in super in your own business owner and you're like,

583
00:26:50,480 --> 00:26:52,360
Speaker 2: I would love a commercial property in there, and I'm

584
00:26:52,400 --> 00:26:54,879
Speaker 2: gonna buy my own commercial property because there's like a

585
00:26:54,960 --> 00:26:57,840
Speaker 2: loophole there that you can buy your commercial property inside

586
00:26:57,880 --> 00:26:59,720
Speaker 2: your super fund and then you lease it to your company,

587
00:26:59,840 --> 00:27:02,760
Speaker 2: not your individual. But you can't even lease your own

588
00:27:02,800 --> 00:27:04,840
Speaker 2: property back to you if you were to buy an

589
00:27:04,880 --> 00:27:07,840
Speaker 2: investment property. Yeah, that's not how it works. You can't

590
00:27:07,880 --> 00:27:10,200
Speaker 2: even lease it to your partner and then leave in it.

591
00:27:10,280 --> 00:27:12,840
Speaker 2: That would be against the rules as well. Wow, it's

592
00:27:12,920 --> 00:27:15,160
Speaker 2: just it's not a thing, and I think so many

593
00:27:15,240 --> 00:27:17,040
Speaker 2: of us go, oh, it would beautiful because then I

594
00:27:17,040 --> 00:27:19,600
Speaker 2: would have an apartment and if everything hit the fan,

595
00:27:19,720 --> 00:27:22,840
Speaker 2: I could go and live in it. You cannot, Wow,

596
00:27:23,280 --> 00:27:24,800
Speaker 2: you would still have to pay the mortgage on that

597
00:27:24,960 --> 00:27:25,840
Speaker 2: and be homeless.

598
00:27:26,600 --> 00:27:27,400
Speaker 4: That's insane.

599
00:27:27,720 --> 00:27:29,919
Speaker 2: It's just a lot. And I get that there are

600
00:27:30,040 --> 00:27:32,040
Speaker 2: some narratives out there at the moment, because I've seen

601
00:27:32,080 --> 00:27:33,720
Speaker 2: a number of them of people being like, this is

602
00:27:33,720 --> 00:27:37,280
Speaker 2: a great opportunity for you to get ahead financially. How's

603
00:27:37,280 --> 00:27:41,359
Speaker 2: that going to perform better than my diversified index portfolio

604
00:27:41,560 --> 00:27:47,719
Speaker 2: inside my serinuation fund that's consistently managed actively. Yeah, okay, anyway,

605
00:27:47,800 --> 00:27:50,720
Speaker 2: thanks for letting me be really negative pulling me out

606
00:27:50,760 --> 00:27:53,520
Speaker 2: on it. Please, all right, enough of me being negative

607
00:27:53,560 --> 00:27:55,960
Speaker 2: and y'apping about SMSFS. But if anybody wants to have

608
00:27:56,040 --> 00:27:59,280
Speaker 2: that conversation again, I'm all, is, would you like me

609
00:27:59,359 --> 00:28:01,440
Speaker 2: to read you out the damn we got this week?

610
00:28:01,840 --> 00:28:02,480
Speaker 5: Absolutely?

611
00:28:02,640 --> 00:28:05,720
Speaker 2: Yes? Please? All right, Hi, she's on the money. Interesting

612
00:28:05,840 --> 00:28:08,760
Speaker 2: money topic. That's never been something I've ever had to

613
00:28:08,840 --> 00:28:11,200
Speaker 2: think about. My parents are getting on in age, and

614
00:28:11,280 --> 00:28:14,000
Speaker 2: my father has been quite unwell of late. I jokingly

615
00:28:14,080 --> 00:28:17,240
Speaker 2: asked him if his funeral was paid for to which

616
00:28:17,280 --> 00:28:20,600
Speaker 2: he replied, No. This got me thinking, is it my

617
00:28:20,720 --> 00:28:24,879
Speaker 2: responsibility as a daughter to have to pay for funeral expenses?

618
00:28:25,560 --> 00:28:28,440
Speaker 2: My parents have never been good with money, so I

619
00:28:28,520 --> 00:28:30,880
Speaker 2: don't foresee there being much money set aside to pay

620
00:28:30,920 --> 00:28:33,280
Speaker 2: for these things when they do arise. Bit of a

621
00:28:33,359 --> 00:28:35,639
Speaker 2: morbid topic, but we all are going to have to

622
00:28:35,720 --> 00:28:39,400
Speaker 2: face this at some stage. Thank you so much, So

623
00:28:39,480 --> 00:28:39,960
Speaker 2: really valid.

624
00:28:40,000 --> 00:28:41,640
Speaker 4: I actually do think about this a lot because I

625
00:28:42,400 --> 00:28:44,600
Speaker 4: also don't have much money. My mom doesn't have much money,

626
00:28:44,600 --> 00:28:46,680
Speaker 4: and I'm like, who pays for that? And I do

627
00:28:46,960 --> 00:28:49,520
Speaker 4: know that it can be really expensive. Upwards of five

628
00:28:49,600 --> 00:28:50,480
Speaker 4: thousand dollars.

629
00:28:50,400 --> 00:28:52,479
Speaker 2: Could be up to ten thousand dollars. Obviously there's far

630
00:28:52,560 --> 00:28:56,200
Speaker 2: more cost effective solutions, but that's good. Take between five

631
00:28:56,240 --> 00:28:58,480
Speaker 2: and ten thousand dollars. I would say it's average.

632
00:28:59,400 --> 00:29:01,680
Speaker 4: It's very scary because you can't like if you know,

633
00:29:01,760 --> 00:29:04,680
Speaker 4: and like touchwood like that. It just would be a shame,

634
00:29:04,760 --> 00:29:07,240
Speaker 4: Like if some unexpected expense came up and it was

635
00:29:07,240 --> 00:29:09,240
Speaker 4: five or ten thousand dollars, you'd just be like, like,

636
00:29:09,440 --> 00:29:12,560
Speaker 4: well consider me out of the game, you know. But

637
00:29:12,800 --> 00:29:15,280
Speaker 4: so I do think that's a lot. I don't know

638
00:29:15,560 --> 00:29:19,280
Speaker 4: whose responsibility it is That is a really good question.

639
00:29:19,520 --> 00:29:22,640
Speaker 4: I think it's like the families the in general, Like

640
00:29:22,680 --> 00:29:25,800
Speaker 4: it wouldn't be just the daughter or just the the

641
00:29:25,920 --> 00:29:30,080
Speaker 4: other parent if they're still with us or their parents.

642
00:29:30,160 --> 00:29:33,240
Speaker 4: Like I think it's the families. Do you think.

643
00:29:33,520 --> 00:29:33,920
Speaker 3: I don't know.

644
00:29:34,200 --> 00:29:35,920
Speaker 2: Yeah, And I would just like to caveat this. I

645
00:29:35,920 --> 00:29:38,360
Speaker 2: would like to this, and you guys can disagree with

646
00:29:38,440 --> 00:29:40,000
Speaker 2: me if you want, but I would like to try

647
00:29:40,040 --> 00:29:42,280
Speaker 2: and take the emotion out of this conversation. Yeah, I'd

648
00:29:42,280 --> 00:29:44,320
Speaker 2: be like, oh, my mom and my dad would want like,

649
00:29:44,760 --> 00:29:47,200
Speaker 2: let's just be really pragmatic about the facts here. We're

650
00:29:47,280 --> 00:29:49,600
Speaker 2: just talking like I know that your situation is like, oh,

651
00:29:49,640 --> 00:29:51,960
Speaker 2: your dad's sick and whatnot, but like to have the

652
00:29:52,040 --> 00:29:54,720
Speaker 2: most productive conversation, I think we need to just be like,

653
00:29:55,040 --> 00:29:57,560
Speaker 2: let's just spit some facts here. Who owns what and where?

654
00:29:57,600 --> 00:30:00,160
Speaker 2: And how does this work? As opposed to like not

655
00:30:00,160 --> 00:30:04,080
Speaker 2: not bringing kindness but like tippy toeing around it, if

656
00:30:04,120 --> 00:30:08,520
Speaker 2: that makes sense. That's so in that you actually don't

657
00:30:08,560 --> 00:30:11,240
Speaker 2: have to have a funeral, So like that's why I'm like, oh,

658
00:30:11,320 --> 00:30:13,480
Speaker 2: I feel bad saying this, but technically you don't have

659
00:30:13,560 --> 00:30:15,680
Speaker 2: to have a funeral. You like, don't have to do

660
00:30:15,800 --> 00:30:18,920
Speaker 2: that at all. It is technically an event that is

661
00:30:19,640 --> 00:30:23,160
Speaker 2: not compulsory. That sounds terrible because I think everybody should

662
00:30:23,160 --> 00:30:26,400
Speaker 2: be afforded that option. But I don't want to say

663
00:30:26,400 --> 00:30:27,960
Speaker 2: it this way, but it's kind of like a birthday party.

664
00:30:28,120 --> 00:30:30,600
Speaker 2: Your birthday can pass and you not have a party

665
00:30:30,880 --> 00:30:34,440
Speaker 2: because parties are expensive and you still tick on in age. Yes,

666
00:30:34,480 --> 00:30:37,440
Speaker 2: there are going to be some costs associated because there's

667
00:30:37,480 --> 00:30:40,160
Speaker 2: going to be you know, either a burial or a cremation.

668
00:30:40,320 --> 00:30:41,959
Speaker 2: There's probably going to be like you know, if you're

669
00:30:42,000 --> 00:30:44,200
Speaker 2: in a cemetry cemetery, costs and stuff like that, but

670
00:30:44,280 --> 00:30:46,280
Speaker 2: it doesn't have to be a five or ten thousand

671
00:30:46,320 --> 00:30:49,640
Speaker 2: dollars expense. And that sounds terrible, And that's why I

672
00:30:49,680 --> 00:30:51,720
Speaker 2: wanted to take the emotion out of it, because I

673
00:30:51,800 --> 00:30:54,840
Speaker 2: think when you then start speaking to families, they'll go,

674
00:30:55,040 --> 00:30:57,960
Speaker 2: it's not an option to not have a funeral. And

675
00:30:58,040 --> 00:31:00,320
Speaker 2: I get that, I do, but I think that that's

676
00:31:00,360 --> 00:31:04,440
Speaker 2: where we have to that's where we have to have

677
00:31:04,560 --> 00:31:09,080
Speaker 2: this conversation of it's actually a choice to have a funeral.

678
00:31:09,400 --> 00:31:11,640
Speaker 2: I think everybody should have one on thousand percent, but

679
00:31:11,720 --> 00:31:15,720
Speaker 2: I also that's why they charge like and that's why

680
00:31:15,800 --> 00:31:18,400
Speaker 2: so many different places make money from hosting these events.

681
00:31:18,520 --> 00:31:20,400
Speaker 2: And yeah, I think that we just don't talk about

682
00:31:20,440 --> 00:31:22,959
Speaker 2: it that way because it is really morbid. But as

683
00:31:23,000 --> 00:31:25,400
Speaker 2: somebody who grew up with a mother who was a coroner,

684
00:31:25,880 --> 00:31:27,720
Speaker 2: I'm used to morbid conversation.

685
00:31:27,440 --> 00:31:31,080
Speaker 4: Right, Yes, I just have one question if you can't

686
00:31:31,200 --> 00:31:32,840
Speaker 4: And when I say no money, I mean no money,

687
00:31:32,920 --> 00:31:34,960
Speaker 4: Cause some people might be like, oh, you have savings whatever. No,

688
00:31:35,160 --> 00:31:37,400
Speaker 4: I'm saying someone has no money and someone in their

689
00:31:37,440 --> 00:31:40,920
Speaker 4: family unfortunately passes, and you decide not to have a funeral.

690
00:31:41,000 --> 00:31:43,080
Speaker 4: Maybe you have your own little family thing. Do they

691
00:31:43,120 --> 00:31:43,960
Speaker 4: want of all the cost stuff?

692
00:31:44,000 --> 00:31:45,680
Speaker 2: But what you do end up taking.

693
00:31:46,400 --> 00:31:48,600
Speaker 4: Okay, that very interesting.

694
00:31:49,120 --> 00:31:52,880
Speaker 2: You don't get to choose though you won't get them back. Okay,

695
00:31:52,920 --> 00:31:55,200
Speaker 2: it makes sense. There's yeah, there's a lot to it.

696
00:31:55,480 --> 00:31:59,080
Speaker 2: But so I mean, it's essentially like I believe they're

697
00:31:59,120 --> 00:32:03,080
Speaker 2: like Miss Pauper's funeral, where it's not really a funeral

698
00:32:03,200 --> 00:32:05,040
Speaker 2: at all. It's kind of like the government's like, great,

699
00:32:05,080 --> 00:32:06,480
Speaker 2: I'm going to do this, and they're going.

700
00:32:06,400 --> 00:32:09,600
Speaker 5: To dispose of the body because it's yeah, like with cremation,

701
00:32:10,120 --> 00:32:11,920
Speaker 5: I'm not super versed in it, but of there's still

702
00:32:11,960 --> 00:32:14,040
Speaker 5: like quite high feel Yeah. Fee that surprised me with

703
00:32:14,160 --> 00:32:16,440
Speaker 5: how expensive it is because exactly as you were saying,

704
00:32:16,480 --> 00:32:19,280
Speaker 5: the fees generally like your bare minimum are you need

705
00:32:19,400 --> 00:32:22,240
Speaker 5: to put the body to rest somewhere, whether that is

706
00:32:22,360 --> 00:32:24,560
Speaker 5: through cremation or whether that is you pay for a

707
00:32:24,640 --> 00:32:26,400
Speaker 5: burial plot, and you pay for the burial plot, you

708
00:32:26,440 --> 00:32:27,760
Speaker 5: can choose. Do you have a headstone, do you have

709
00:32:27,800 --> 00:32:30,280
Speaker 5: a marker? There's lots of like tears of things, but

710
00:32:30,520 --> 00:32:33,520
Speaker 5: they're essential is laying the body to rest somewhere. And

711
00:32:33,640 --> 00:32:36,600
Speaker 5: if the government does it, they will take care of that.

712
00:32:36,760 --> 00:32:40,200
Speaker 2: But it's as it's complex, and like you kind of

713
00:32:41,040 --> 00:32:44,000
Speaker 2: I believe it's like abandonment of the body kind of

714
00:32:44,120 --> 00:32:46,320
Speaker 2: vibes like you leave it at either the funeral hope,

715
00:32:46,400 --> 00:32:49,440
Speaker 2: like because like you actually don't have any obligation to

716
00:32:49,480 --> 00:32:51,600
Speaker 2: go and pick that person up right like, And this

717
00:32:51,720 --> 00:32:53,360
Speaker 2: is where I'm like, I don't want to have an

718
00:32:53,400 --> 00:32:56,160
Speaker 2: emotional conversation here, like let's just be really blunt about

719
00:32:56,160 --> 00:32:58,800
Speaker 2: what it is. And yeah, that kind of sucks. But

720
00:32:58,960 --> 00:33:01,720
Speaker 2: to zoom out a little bit, if you don't have

721
00:33:01,840 --> 00:33:04,800
Speaker 2: the money, it will usually come from their estate. And

722
00:33:04,920 --> 00:33:09,000
Speaker 2: this is where things get really got you really dicey, right.

723
00:33:09,360 --> 00:33:12,960
Speaker 2: So I had had a situation last year where one

724
00:33:13,000 --> 00:33:15,320
Speaker 2: of my friends had someone really close to them pass away,

725
00:33:15,880 --> 00:33:18,520
Speaker 2: and that person didn't have a lot of money. They

726
00:33:18,560 --> 00:33:20,560
Speaker 2: didn't have a lot of money, but like to pay

727
00:33:20,600 --> 00:33:23,240
Speaker 2: for the funeral had to come out of my friend's

728
00:33:23,320 --> 00:33:27,320
Speaker 2: pocket because access to the estate hadn't been opened up yet,

729
00:33:27,520 --> 00:33:30,680
Speaker 2: Like we couldn't access that person's superannuation or their savings

730
00:33:30,800 --> 00:33:33,160
Speaker 2: or anything to kind of pay for it. So you can,

731
00:33:33,640 --> 00:33:36,320
Speaker 2: you know, do that. We ended up having that person

732
00:33:36,600 --> 00:33:39,720
Speaker 2: take it from their savings and then we well documented it.

733
00:33:39,840 --> 00:33:42,840
Speaker 2: And then after that case and the estate was opened

734
00:33:42,880 --> 00:33:45,240
Speaker 2: and were able to access those funds, it was paid back.

735
00:33:45,440 --> 00:33:47,800
Speaker 2: I se but like that was a messy situation. But

736
00:33:48,000 --> 00:33:50,640
Speaker 2: maybe they don't even have that. But yes, usually it

737
00:33:50,720 --> 00:33:52,960
Speaker 2: does come down to the family. And that's why I'm saying,

738
00:33:53,040 --> 00:33:54,960
Speaker 2: like I don't want to be morbid about it, but

739
00:33:55,040 --> 00:33:58,040
Speaker 2: like it's also a Milburn topic. And yes, at the

740
00:33:58,160 --> 00:34:00,960
Speaker 2: end of the day, it's a and that sounds so

741
00:34:01,080 --> 00:34:02,880
Speaker 2: terrible and I don't mean it that way, but like

742
00:34:03,040 --> 00:34:07,000
Speaker 2: that's why the funeral is kind of the family's financial burden.

743
00:34:08,320 --> 00:34:09,960
Speaker 5: Yeah, I've heard a lot of ads. I remember what

744
00:34:10,040 --> 00:34:11,719
Speaker 5: company it was, but I've heard ads run on like

745
00:34:11,840 --> 00:34:15,680
Speaker 5: radio for example, for a some kind of funeral company

746
00:34:15,760 --> 00:34:17,960
Speaker 5: might be like a White Lady or something, and they're

747
00:34:18,040 --> 00:34:21,680
Speaker 5: like tagline of their campaign is you, as an individual

748
00:34:21,760 --> 00:34:24,440
Speaker 5: should start paying money, like into an account of some

749
00:34:24,560 --> 00:34:26,560
Speaker 5: sort ahead of time. I'm assuming to account with them

750
00:34:27,080 --> 00:34:29,800
Speaker 5: so that your funeral cost isn't a burden on the

751
00:34:29,840 --> 00:34:32,800
Speaker 5: people you leave behind. Yes, which I like the concept of.

752
00:34:33,000 --> 00:34:35,439
Speaker 5: It is like hard because you kind of go, well,

753
00:34:36,600 --> 00:34:38,160
Speaker 5: you were just assumed that it would come out of

754
00:34:38,200 --> 00:34:40,400
Speaker 5: the estate. And it is hard because, as Victoria was saying, like,

755
00:34:40,520 --> 00:34:43,640
Speaker 5: it's you know, that's not accessible generally speaking for a

756
00:34:43,640 --> 00:34:43,960
Speaker 5: little bit.

757
00:34:44,239 --> 00:34:47,320
Speaker 2: Yet it kind of gets locked down usually like pretty quickly.

758
00:34:47,560 --> 00:34:51,120
Speaker 2: I mean unless it's like again morbidly like a husband

759
00:34:51,160 --> 00:34:53,279
Speaker 2: and wife and they had shared finances and they could

760
00:34:53,360 --> 00:34:56,560
Speaker 2: access that, but still that's going to be the partner's Yeah,

761
00:34:56,760 --> 00:34:57,319
Speaker 2: take some time.

762
00:34:57,360 --> 00:34:59,000
Speaker 5: There's some red tape and all that sort of thing,

763
00:34:59,040 --> 00:35:02,439
Speaker 5: whereas you know, get somebody to somewhere, you know, while

764
00:35:02,480 --> 00:35:04,520
Speaker 5: the body is I don't want to say fresh, but

765
00:35:04,800 --> 00:35:06,759
Speaker 5: you know what I mean, getting things taken care of

766
00:35:06,880 --> 00:35:09,040
Speaker 5: in a prompt manner is kind of time is of

767
00:35:09,080 --> 00:35:12,040
Speaker 5: the essence, and so it's yeah, I can see that

768
00:35:12,200 --> 00:35:14,200
Speaker 5: that is really appealing someone planning for it. But if

769
00:35:14,239 --> 00:35:15,879
Speaker 5: somebody hasn't planned for it, like your dad and I'm

770
00:35:15,880 --> 00:35:17,120
Speaker 5: so sorry to hear that he's sick, and I'm so

771
00:35:17,120 --> 00:35:18,600
Speaker 5: sorry to hear you guys are having to have these

772
00:35:18,880 --> 00:35:21,920
Speaker 5: conversations because they are really tough. If he hasn't planned, Like,

773
00:35:21,960 --> 00:35:23,800
Speaker 5: maybe that's something you can talk about because you have

774
00:35:23,960 --> 00:35:26,480
Speaker 5: the benefit of he's still with you, so you say.

775
00:35:26,360 --> 00:35:28,200
Speaker 2: Okay, like you can make it so beautiful.

776
00:35:28,400 --> 00:35:30,880
Speaker 5: Yeah, like, how do we honor your issues? What does

777
00:35:30,960 --> 00:35:33,120
Speaker 5: that look like? You know, should we be putting money

778
00:35:33,120 --> 00:35:36,000
Speaker 5: aside now or can we allocate something that is accessible

779
00:35:36,280 --> 00:35:38,480
Speaker 5: in the time that you, you know, you do leave us,

780
00:35:38,560 --> 00:35:40,839
Speaker 5: so that it is something that we're able to take

781
00:35:40,880 --> 00:35:42,600
Speaker 5: care of. It's not a burden on me or on

782
00:35:42,640 --> 00:35:45,920
Speaker 5: everybody else or you know. It is a hard conversation,

783
00:35:46,040 --> 00:35:48,440
Speaker 5: but I think an important one because, as you know

784
00:35:48,560 --> 00:35:51,000
Speaker 5: you were saying, Beck, I think it is if you

785
00:35:51,120 --> 00:35:53,640
Speaker 5: had no money, it would be really tough because it

786
00:35:53,760 --> 00:35:56,560
Speaker 5: is such an emotive thing. You don't want to ever

787
00:35:56,600 --> 00:35:59,719
Speaker 5: feel like you're disappointing someone or you know, there's a

788
00:35:59,760 --> 00:36:02,719
Speaker 5: whole big conversation around you know, different religions and the

789
00:36:02,800 --> 00:36:05,320
Speaker 5: different practices that are required to wanna those that we

790
00:36:05,480 --> 00:36:08,040
Speaker 5: love and better to have it now, to get it

791
00:36:08,160 --> 00:36:11,759
Speaker 5: sorted while you can, I think, is my take on it.

792
00:36:12,120 --> 00:36:12,520
Speaker 2: But it is.

793
00:36:12,800 --> 00:36:15,840
Speaker 5: Yeah, I think it is ultimately, unfortunately the responsibility of

794
00:36:15,920 --> 00:36:18,680
Speaker 5: the people who were closest, and then it's more complicated.

795
00:36:18,719 --> 00:36:20,480
Speaker 5: And if you're estranged from your family.

796
00:36:20,400 --> 00:36:22,839
Speaker 2: Oh yeah, it's actually crazy and like no one wants

797
00:36:22,880 --> 00:36:25,319
Speaker 2: to face their own mortality. Like a lot of people

798
00:36:25,360 --> 00:36:27,279
Speaker 2: don't want to talk about this, and it's like it's

799
00:36:27,320 --> 00:36:29,480
Speaker 2: quite jarring as somebody who has done their full like

800
00:36:29,719 --> 00:36:32,560
Speaker 2: estate planning and like will and whatnot with their husband.

801
00:36:32,560 --> 00:36:34,600
Speaker 2: And I've updated it recently because I had another baby,

802
00:36:34,640 --> 00:36:36,600
Speaker 2: so we had to go back to the drawing board

803
00:36:36,640 --> 00:36:39,360
Speaker 2: and be like, okay, cool, let's update this. I'm sitting

804
00:36:39,400 --> 00:36:41,680
Speaker 2: across from my husband. It's like on a Sunday morning

805
00:36:41,760 --> 00:36:44,040
Speaker 2: having a coffee. I'm like, so you still want to

806
00:36:44,080 --> 00:36:44,560
Speaker 2: be cremated?

807
00:36:44,680 --> 00:36:44,879
Speaker 3: Yeah?

808
00:36:45,080 --> 00:36:45,319
Speaker 1: Yeah?

809
00:36:45,560 --> 00:36:48,960
Speaker 2: Like what yeah, He's like, what do you want? I'm like, yeah,

810
00:36:49,000 --> 00:36:51,360
Speaker 2: I want to be cremated as well. Can you do

811
00:36:51,520 --> 00:36:53,960
Speaker 2: this that the other Like we've got a whole plan, like,

812
00:36:54,480 --> 00:36:57,400
Speaker 2: but that's why state planning is also really really important,

813
00:36:57,480 --> 00:36:59,960
Speaker 2: because it makes us think about, okay, cool, like where

814
00:37:00,080 --> 00:37:02,279
Speaker 2: would this be funded from? What would that look like?

815
00:37:02,360 --> 00:37:04,320
Speaker 2: Because I don't want to be a financial burden on

816
00:37:04,400 --> 00:37:07,440
Speaker 2: my family, and I don't think many people do anyway,

817
00:37:07,600 --> 00:37:11,520
Speaker 2: we asked the community and we asked a few questions.

818
00:37:11,600 --> 00:37:14,000
Speaker 2: So the first was, is this a conversation you have

819
00:37:14,160 --> 00:37:16,839
Speaker 2: had ahead of time? And forty percent of you said,

820
00:37:16,920 --> 00:37:20,120
Speaker 2: it's actually never crossed my mind. Thirty percent said yes,

821
00:37:20,200 --> 00:37:23,399
Speaker 2: there is a plan, seventeen percent said yes, but there's

822
00:37:23,480 --> 00:37:26,719
Speaker 2: no plan, and fourteen percent said nope, we have avoided it.

823
00:37:27,960 --> 00:37:31,680
Speaker 2: We then said who should be responsible for funeral costs?

824
00:37:32,160 --> 00:37:36,719
Speaker 2: Sixty six percent of you said their estate, twenty three

825
00:37:36,800 --> 00:37:40,800
Speaker 2: percent said the individual, and eleven percent said their family.

826
00:37:41,719 --> 00:37:45,239
Speaker 2: Oh so, I, in my head also think that the

827
00:37:45,360 --> 00:37:48,799
Speaker 2: individual and their estate is the same thing, because even

828
00:37:48,840 --> 00:37:51,640
Speaker 2: if you don't make a funeral plan, like it can

829
00:37:51,719 --> 00:37:53,919
Speaker 2: come out of your estate, like after you've passed away,

830
00:37:54,120 --> 00:37:56,799
Speaker 2: like that money can be drawn out of your estate

831
00:37:56,920 --> 00:38:01,080
Speaker 2: to pay for that cost. If everybody who's a party

832
00:38:01,200 --> 00:38:04,319
Speaker 2: to that, maybe inheritance of Greece, but then it could

833
00:38:04,360 --> 00:38:06,560
Speaker 2: become a big issue. And if they have lots of debt,

834
00:38:06,600 --> 00:38:09,320
Speaker 2: I'm assuming the debt would probably be prioritized over the funeral.

835
00:38:09,320 --> 00:38:12,040
Speaker 2: Would that be correct? Yes, No, depends on the type

836
00:38:12,080 --> 00:38:14,839
Speaker 2: of debt, who the debtors are, whether you honestly, whether

837
00:38:14,880 --> 00:38:16,759
Speaker 2: you get to their savings account first and spend it

838
00:38:16,840 --> 00:38:20,200
Speaker 2: before the debt has come Like it just that's terrible advice,

839
00:38:20,280 --> 00:38:22,680
Speaker 2: but like that's the reality of what some people have done.

840
00:38:22,840 --> 00:38:24,719
Speaker 2: And then obviously we went to the community said guys,

841
00:38:24,800 --> 00:38:27,000
Speaker 2: give us you two cents. First person said, if the

842
00:38:27,160 --> 00:38:29,000
Speaker 2: estate can't cover it, it's up to the family. It's

843
00:38:29,040 --> 00:38:33,200
Speaker 2: all about respect. Next person said, girl, if you want

844
00:38:33,239 --> 00:38:35,400
Speaker 2: to be buried, it can cost between fifteen and twenty

845
00:38:35,440 --> 00:38:37,680
Speaker 2: five thousand dollars. You need to be prepared if you

846
00:38:37,800 --> 00:38:40,480
Speaker 2: want specifics. This is the thing.

847
00:38:40,600 --> 00:38:42,080
Speaker 5: It's like they charged so much.

848
00:38:42,160 --> 00:38:44,680
Speaker 2: I've heard for Yeah, I don't know about twenty five

849
00:38:44,719 --> 00:38:46,359
Speaker 2: grand I feel like that's taking the mickey.

850
00:38:47,400 --> 00:38:49,680
Speaker 4: I know it's one of those either with the pillars,

851
00:38:49,920 --> 00:38:51,560
Speaker 4: you know you got that big Oh yeah, it's one

852
00:38:51,560 --> 00:38:52,160
Speaker 4: of those mules.

853
00:38:52,280 --> 00:38:55,520
Speaker 2: Maybe it's like a full mausoleum. And like I also

854
00:38:55,640 --> 00:38:58,439
Speaker 2: wanted to like fill the entire room with only red

855
00:38:58,520 --> 00:39:02,440
Speaker 2: long stem roses. But I can't make a funeral real expensive.

856
00:39:02,600 --> 00:39:05,360
Speaker 2: Just so you guys know. Next person said, after my

857
00:39:05,480 --> 00:39:08,040
Speaker 2: mom died when I was twenty two, this is now

858
00:39:08,120 --> 00:39:10,640
Speaker 2: a normal conversation that we have in our family.

859
00:39:11,000 --> 00:39:11,200
Speaker 5: Yeah.

860
00:39:11,680 --> 00:39:13,799
Speaker 2: The next person said, I got iced out of our

861
00:39:13,880 --> 00:39:16,920
Speaker 2: dad's death and estate by his wife, and we have

862
00:39:17,160 --> 00:39:19,359
Speaker 2: to talk about it. We must make a plan.

863
00:39:19,960 --> 00:39:21,200
Speaker 4: Oh my god, I'm so sorry.

864
00:39:21,320 --> 00:39:24,480
Speaker 2: All four so sad. Next person said, and this is

865
00:39:24,520 --> 00:39:27,759
Speaker 2: a two parter. This is a great opportunity for her

866
00:39:27,840 --> 00:39:30,160
Speaker 2: to sit down with her parents and not out what

867
00:39:30,360 --> 00:39:32,960
Speaker 2: they want and if they are organized it also make

868
00:39:33,000 --> 00:39:35,799
Speaker 2: sure that there is medical power of attorney set up.

869
00:39:37,680 --> 00:39:41,680
Speaker 2: Next person said, recently I lost both parents. Combank released

870
00:39:41,719 --> 00:39:45,359
Speaker 2: the funds required from their account for a funeral. It's great,

871
00:39:45,960 --> 00:39:49,320
Speaker 2: that's very cool. Yeah. And the last one was at eighteen,

872
00:39:49,480 --> 00:39:52,600
Speaker 2: my estranged father passed away as his only next of kin.

873
00:39:52,760 --> 00:39:56,160
Speaker 2: I wore the five thousand dollar debt his estate couldn't cover.

874
00:39:56,960 --> 00:39:57,680
Speaker 5: For so unfair.

875
00:39:57,920 --> 00:40:01,240
Speaker 2: Done is unfair, And you literally didn't sign.

876
00:40:01,120 --> 00:40:01,400
Speaker 3: Up for that.

877
00:40:01,800 --> 00:40:03,719
Speaker 4: No, I mean there's a whole other conversation I was

878
00:40:03,800 --> 00:40:06,320
Speaker 4: thinking when you were talking before about it's like we

879
00:40:06,440 --> 00:40:09,279
Speaker 4: are not money. And if you pass with that money

880
00:40:09,400 --> 00:40:11,959
Speaker 4: or people in your family don't have money, and you're

881
00:40:12,040 --> 00:40:14,239
Speaker 4: kind of like abandoning the body, It's like, I just

882
00:40:14,320 --> 00:40:18,680
Speaker 4: don't like this whole timetable because it's like, we're worthy

883
00:40:18,760 --> 00:40:21,400
Speaker 4: of respect and love and all this. There should just

884
00:40:21,440 --> 00:40:24,719
Speaker 4: be like a baseline plan for anyone who passes, because

885
00:40:24,760 --> 00:40:27,520
Speaker 4: they're worthy of all of these absolutely things. And if

886
00:40:27,560 --> 00:40:30,239
Speaker 4: you want extra cool, I'm really sorry to hear about

887
00:40:30,320 --> 00:40:33,600
Speaker 4: your father, and I hope everything grows well just so

888
00:40:33,680 --> 00:40:34,920
Speaker 4: you keep having those conversations.

889
00:40:35,000 --> 00:40:38,239
Speaker 2: And yeah, well that was a morbid end to what

890
00:40:38,480 --> 00:40:42,120
Speaker 2: was a really great episode. Thanks for sticking with us, guys,

891
00:40:42,280 --> 00:40:46,000
Speaker 2: it has been a beautiful start back to getting into

892
00:40:46,040 --> 00:40:49,600
Speaker 2: twenty twenty six podcasting for me. Thank you. But we'll

893
00:40:49,640 --> 00:40:52,640
Speaker 2: see you guys next week on Monday morning, right nearly

894
00:40:52,680 --> 00:40:55,319
Speaker 2: for a money Darry. We'll see then, Bye bye bye.

895
00:40:58,480 --> 00:41:01,000
Speaker 2: The advice shared on Cheese and the Money is general

896
00:41:01,080 --> 00:41:04,240
Speaker 2: in nature and does not consider your individual circumstances.

897
00:41:04,640 --> 00:41:05,160
Speaker 1: She's on the.

898
00:41:05,200 --> 00:41:08,680
Speaker 2: Money exists purely for educational purposes and should not be

899
00:41:08,800 --> 00:41:12,160
Speaker 2: relied upon to make an investment or financial decision. If

900
00:41:12,200 --> 00:41:15,040
Speaker 2: you do choose to buy a financial product, read the PDS,

901
00:41:15,200 --> 00:41:19,160
Speaker 2: TMD and obtain appropriate financial advice tailored towards your needs.

902
00:41:19,560 --> 00:41:23,480
Speaker 2: Victoria Divine and She's on the Money are authorized representatives

903
00:41:23,560 --> 00:41:27,360
Speaker 2: of Money. Sheper pty Ltd ABN three two one IS

904
00:41:27,440 --> 00:41:31,319
Speaker 2: six four nine two seven seven zero eight AFSL four

905
00:41:31,440 --> 00:41:32,879
Speaker 2: five one two eight nine