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Should You Save or Invest Right Now? And a Spicy Inheritance Dilemma · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your
• 0:04
  Speaker 1: the Order Kerni Whaltbury and a waddery woman. And before
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  Speaker 1: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 1: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money. She's on the Money.
• 0:57
  Speaker 2: Hello, and welcome to She's on the Money. That makes
• 1:01
  Speaker 2: personal finance fun, especially on a Friday. It is our
• 1:04
  Speaker 2: favorite day of the week because I have my voice back.
• 1:07
  Speaker 2: We also get our team together and celebrate you our
• 1:10
  Speaker 2: incredible She's on the Money community ms just Greedchy. She's
• 1:14
  Speaker 2: going to be sharing her favorite money wins. Beck Syed
• 1:17
  Speaker 2: has a number of freak tips to share with us,
• 1:19
  Speaker 2: and we're going to be helping to answer a money dilemma,
• 1:21
  Speaker 2: which this week is about whether you should take some
• 1:24
  Speaker 2: of your current monthly savings and start investing some of
• 1:27
  Speaker 2: it and something you slid into our DMS about what
• 1:31
  Speaker 2: do you do when your sibling is pressuring you to
• 1:33
  Speaker 2: join them in going to your parents to ask for
• 1:35
  Speaker 2: your inheritance early ooh see, Cze, I could see you going, oh,
• 1:41
  Speaker 2: what are you doing with sibling? Okay, okay, okay, inheritance uncomfortable. Yeah,
• 1:47
  Speaker 2: I just feel like that's a lot. Yeah, that's a lot.
• 1:50
  Speaker 2: It's a lot, all right, So let's maybe just not
• 1:54
  Speaker 2: start there. How are your weeks? My loves go for it,
• 1:59
  Speaker 2: My week's in love.
• 2:00
  Speaker 4: I haven't done anything too exciting, just been trying to
• 2:03
  Speaker 4: survive the cold snap, cold and freezing.
• 2:06
  Speaker 2: I'm over it. You've brought a b Yo heat pack
• 2:08
  Speaker 2: to the studio today. You've got your little wheaty pack
• 2:12
  Speaker 2: you're sitting on you.
• 2:13
  Speaker 5: I was wearing the jacket or the driving. It's just freezing.
• 2:16
  Speaker 2: I had easy. You had the car on like blasting
• 2:19
  Speaker 2: hot air. Like I don't know if this like I'm comfy,
• 2:22
  Speaker 2: I'm happy, but I don't know if this is good
• 2:24
  Speaker 2: or bad?
• 2:24
  Speaker 4: Like I have to get out of the car. It's
• 2:26
  Speaker 4: so much worse when you go from walking.
• 2:28
  Speaker 2: Yeah, like, do I turn down the meter so that
• 2:30
  Speaker 2: the transition isn't as bad. It's no, no, I say,
• 2:36
  Speaker 2: I walked Harvey to daycare this morning, and my breath
• 2:39
  Speaker 2: in front of me was like pluming, and like the
• 2:43
  Speaker 2: grass was frosty. I could see where the dog had walked,
• 2:45
  Speaker 2: and I was like, winter has really kind of arrived.
• 2:49
  Speaker 2: Driving I can.
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  Speaker 4: See all the people go like walking to work in there,
• 2:52
  Speaker 4: like puffa jackets and puffer vests, and I was wearing
• 2:54
  Speaker 4: my pink puffa jacket.
• 2:55
  Speaker 5: I was like, I'm just one of you, even.
• 2:58
  Speaker 2: If I never had an originally variance. No, oh, my goodness,
• 3:02
  Speaker 2: Beck has your week bean? No, Bo's been really loving, Yeah,
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  Speaker 2: really really cold.
• 3:06
  Speaker 6: But there's something so gorgeous about like a crispy winter morning.
• 3:10
  Speaker 2: Your car's frozen over for like, what part of that
• 3:13
  Speaker 2: is gorgeous? Sorry, it's it's usually the winter vibes.
• 3:17
  Speaker 6: I think it's the thrill of like driving for a
• 3:19
  Speaker 6: few minutes with no.
• 3:23
  Speaker 4: You're very pretty, like the ice on the grass and
• 3:27
  Speaker 4: the sun that's.
• 3:28
  Speaker 6: Doing nothing but it's there and it's so it's really
• 3:32
  Speaker 6: so beautiful. But it's when I hit my hit my
• 3:35
  Speaker 6: housemates carlvn't told it.
• 3:37
  Speaker 2: Just as I couldn't see. Excuse me.
• 3:39
  Speaker 6: I was like, oh, it should be fine, like I.
• 3:41
  Speaker 2: Hit my housemates car, and then I didn't tell it.
• 3:43
  Speaker 2: You need to get off this podcast. It was straight
• 3:46
  Speaker 2: into her messages. She's chill, sure, I'll tell later. But
• 3:50
  Speaker 2: it was just like a little love tap.
• 3:52
  Speaker 6: Because like you know when you like spray your window
• 3:54
  Speaker 6: to get the ice off, and then there's just like
• 3:56
  Speaker 6: those two long little windows and see through those but
• 4:01
  Speaker 6: nothing else. And I was just trying to like get
• 4:03
  Speaker 6: out of where I was parked and I couldn't see.
• 4:05
  Speaker 6: But I thought, you know, I had a little.
• 4:08
  Speaker 2: Love tap to oh like that, so her car is
• 4:10
  Speaker 2: no worries. Yeah, it was good to know.
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  Speaker 6: I was like, okay, cool, I'm gonna stop there and
• 4:14
  Speaker 6: then nar reverse.
• 4:15
  Speaker 4: So that's pert squeegee in your car shower squeegee.
• 4:21
  Speaker 2: Yeah. You just now this isn't going to make sense
• 4:26
  Speaker 2: to you, jess or Beck, because like you're not a mum.
• 4:29
  Speaker 2: But I actually keep one in the bottom of my pram.
• 4:32
  Speaker 2: Oh I can't, Yeah, what the hell for? Because the
• 4:35
  Speaker 2: slide at the park often has water at the bottom,
• 4:39
  Speaker 2: and Harvey really wants to go on the slide every time.
• 4:41
  Speaker 2: But I don't want to have to, Like, I'm not
• 4:43
  Speaker 2: going to take a towel and then take home a
• 4:44
  Speaker 2: wet towel. So I've gotten like two dollars came out squeegee,
• 4:47
  Speaker 2: and I just like flick it all off and we're
• 4:49
  Speaker 2: ready to go.
• 4:50
  Speaker 5: Came out squeegish in the lord's work.
• 4:52
  Speaker 7: I know.
• 4:52
  Speaker 2: Maybe that could be my like unsolicited recommendation in this
• 4:55
  Speaker 2: week's newsletter. Yeah, carriage, screek, gee wherever you go? Yeah,
• 5:00
  Speaker 2: bench you want to sit on it, squeegey and fix
• 5:02
  Speaker 2: that gee gen.
• 5:04
  Speaker 6: You just like literally I sit and then I what's
• 5:07
  Speaker 6: it like? I kind of like you do this? Yeah,
• 5:10
  Speaker 6: but with my jeans because no, then.
• 5:13
  Speaker 2: You're sitting in wet in winter. It'solutely quick.
• 5:17
  Speaker 6: She's crazy, Jess, and I would never that's so fair.
• 5:21
  Speaker 5: You're definitely the type B friend.
• 5:23
  Speaker 2: Type B yeah, yeah, yeah, for sure. Do we all
• 5:26
  Speaker 2: need to type to be? And I think I'm type C,
• 5:28
  Speaker 2: which is like a type A person that has chronic ADHD,
• 5:32
  Speaker 2: so that sometimes we're super organized, but also we haven't
• 5:34
  Speaker 2: cleaned out over each in the month. Qualities.
• 5:37
  Speaker 5: Yeah, all the bases covered.
• 5:39
  Speaker 2: Yeah, yeah, yeah, I will just type C. I reckon
• 5:42
  Speaker 2: that works all right, would you guys like a five
• 5:45
  Speaker 2: star review? Absolute? Please? All right, so this one, this
• 5:49
  Speaker 2: was really sweet. It's from Dashford, down to earth and
• 5:53
  Speaker 2: easy to listen to. She's on the Money makes complex
• 5:56
  Speaker 2: finance matters simple plus unsolicited recommendations to make sure you thrive.
• 6:01
  Speaker 2: Can't say off great things about Victoria divine and her
• 6:04
  Speaker 2: She's on the money business.
• 6:05
  Speaker 5: Wow.
• 6:05
  Speaker 2: Oh so cute. That's so sweet because it was about me,
• 6:11
  Speaker 2: as you should. I always picked beck ones because, like Jess,
• 6:15
  Speaker 2: you and I both know that, like we love complimenting Beck.
• 6:19
  Speaker 2: Like it's just it's just really funny. It's just so
• 6:21
  Speaker 2: fun It's like a game at this point.
• 6:23
  Speaker 5: Cute, embarrassed and.
• 6:26
  Speaker 2: Like Jess is really sweet about getting compliments, she really is.
• 6:28
  Speaker 2: But like I love embarrassing. I love embarrassing Beck.
• 6:32
  Speaker 6: That's so fair And I'm happy to take the four
• 6:35
  Speaker 6: for it because it is such a gorgeous If somebody,
• 6:41
  Speaker 6: I'll take one for the team.
• 6:42
  Speaker 2: All right, Well, Jess, I want to know what's going
• 6:44
  Speaker 2: on in the community. What are their good money wins
• 6:47
  Speaker 2: this week?
• 6:47
  Speaker 4: Alrighty, first, so this week I've got one from Holly
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  Speaker 4: who said money win and loss at the same time.
• 6:51
  Speaker 4: I put on a Gold Class movie night for my
• 6:54
  Speaker 4: little ones at home on Saturday night. I gave them
• 6:56
  Speaker 4: the whole Gold Class treatment. It still cost me a
• 6:58
  Speaker 4: little bit of money hence a loss, but it was
• 7:01
  Speaker 4: way cheaper than actual Gold Class so money win and
• 7:04
  Speaker 4: core memory made.
• 7:05
  Speaker 2: And she gave us a little do we get a picture?
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  Speaker 5: We got a video tour? So she had like a
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  Speaker 5: little size post Frozen love it my favorite.
• 7:15
  Speaker 2: Look.
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  Speaker 5: She made them.
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  Speaker 2: Chicken movie tickets and there's like a movie theater door.
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  Speaker 5: She's got the snacks, the whole she went all out.
• 7:22
  Speaker 2: It looks oh, they've got little packs of Oreos and
• 7:24
  Speaker 2: banana and then.
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  Speaker 4: The fold out couches with the kids look like they're
• 7:30
  Speaker 4: having a ball.
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  Speaker 2: I love those.
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  Speaker 5: Such a fun and such a core memory. She's totally right.
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  Speaker 2: Fold out couch is such a throwback to my childhood
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  Speaker 2: and never having one like. I remember being so envious
• 7:40
  Speaker 2: when I went to my friend's houses when I was
• 7:42
  Speaker 2: little and they had like the themed Wiggles couch that
• 7:45
  Speaker 2: flipped out. I'll be like, wow, that's so cool.
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  Speaker 6: I know, but don't be envious. There was so uncomfortable,
• 7:52
  Speaker 6: but like you still like they were so exciting.
• 7:54
  Speaker 2: I didn't have one of those because I had the
• 7:56
  Speaker 2: themed sleeping back. Oh you know one of the other
• 8:00
  Speaker 2: like shaped, Yeah, like.
• 8:02
  Speaker 5: A Mermaid tail or something.
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  Speaker 2: I wish I can't remember. I feel like mom was red.
• 8:06
  Speaker 2: I think it was a Telly Dubby. Oh cute. I
• 8:08
  Speaker 2: think that's cute.
• 8:10
  Speaker 5: Why did my mind go to lobster when.
• 8:13
  Speaker 2: I'm gonna.
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  Speaker 4: Maybe next This week, I've got a money lost from
• 8:18
  Speaker 4: Alisha who said she bought a horse, but she only
• 8:21
  Speaker 4: had to pay transport her life win. She's waited three
• 8:24
  Speaker 4: years for her to retire from racing, so she's saved
• 8:27
  Speaker 4: a horse that obviously is retired and now she's brought
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  Speaker 4: her home.
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  Speaker 2: That's not a money lost, that's a life win. And
• 8:32
  Speaker 2: we've got a.
• 8:33
  Speaker 5: Photo off the horse.
• 8:34
  Speaker 4: Yes, I want to know, like, what's the most absurd
• 8:38
  Speaker 4: if you've got a random But if you've got a
• 8:40
  Speaker 4: pet snail, we want a pet tax photo of this?
• 8:43
  Speaker 2: Do? I mean?
• 8:43
  Speaker 5: I just we've.
• 8:44
  Speaker 2: Done, like I do I really do?
• 8:48
  Speaker 5: Someone out that's got to have a Mexican walking fish.
• 8:50
  Speaker 4: I don't know if you've got something about you with
• 8:54
  Speaker 4: a heavy G.
• 8:56
  Speaker 2: I was trying to explain to my husband the other
• 8:58
  Speaker 2: day the concept of pet tax, and I was like, no, no, no, Like,
• 9:01
  Speaker 2: if you post about your pet in our Facebook group,
• 9:03
  Speaker 2: you've got to pay the pet tax. And he was like,
• 9:05
  Speaker 2: how do you enforce that? And he was like taking
• 9:07
  Speaker 2: it as a very serious pot, right, how do you
• 9:09
  Speaker 2: regulate that? And I was like, you don't. Everybody is
• 9:12
  Speaker 2: a Laura abiding sciitizen. She's on the money and we
• 9:15
  Speaker 2: all pay our pet tax and the.
• 9:17
  Speaker 4: Community is very good at self policing, Like anytime someone
• 9:19
  Speaker 4: mentions a pet, you can almost guarantee someone's like a
• 9:21
  Speaker 4: comment underneath, where's.
• 9:23
  Speaker 2: The pet tack? Yeah, I'm like you, I love it.
• 9:26
  Speaker 2: It's actually my favorite. And like my favorite is when
• 9:29
  Speaker 2: that happens, yes, and then you see the response from
• 9:31
  Speaker 2: the original poster and they're like, look really sorry about this,
• 9:34
  Speaker 2: here's my pet tax, and like some more. Yeah, so's
• 9:37
  Speaker 2: my favorite.
• 9:37
  Speaker 5: I love we love the photos. Keep them coming, everybody.
• 9:40
  Speaker 4: Next, I've had my money in from Carara, who said
• 9:42
  Speaker 4: I went to my local op shop for a look
• 9:43
  Speaker 4: and picked up a Levi's denim jacket for forty five dollars.
• 9:46
  Speaker 4: I was curious on what they retail force, so I
• 9:48
  Speaker 4: looked it up. Turns out it's a super rare vintage
• 9:51
  Speaker 4: jacket and it's you is passed on eBay at fifteen
• 9:55
  Speaker 4: hundred dollars.
• 9:56
  Speaker 2: I would be selling that immediately usd as well. I
• 9:58
  Speaker 2: don't care how cute you are selling that.
• 10:00
  Speaker 4: Yeah, she said, the optop God's were looking down on her.
• 10:02
  Speaker 4: What a good find. Another really good secondhand fine from
• 10:05
  Speaker 4: Tian She got a Herman Miller chair, which if you know,
• 10:09
  Speaker 4: you know, it's like the premium office chair.
• 10:14
  Speaker 5: They retail for like fifteen hundred dollars, which is crazy.
• 10:16
  Speaker 2: We like not buying these easily.
• 10:18
  Speaker 4: No, So she picked hers up for four hundred dollars
• 10:21
  Speaker 4: from an ex government furniture store. She said, her friend
• 10:24
  Speaker 4: over some money, so she ended up only being one
• 10:25
  Speaker 4: hundred and fifty dollars out of pocket.
• 10:27
  Speaker 2: That's such a good deal. And there now I'm in
• 10:29
  Speaker 2: my thirties, so ergonomic economic to you. That's such a
• 10:33
  Speaker 2: good feel Like if we're going to sit at our
• 10:35
  Speaker 2: desk for a whole day, I'm going to get up
• 10:37
  Speaker 2: and I'm not going to feel creaky. That's a sleigh.
• 10:39
  Speaker 4: Next, I've got a money in from Alana, who said
• 10:41
  Speaker 4: every year the girls on her mom's side of the
• 10:43
  Speaker 4: family have a weekend away, everybody takes all of the
• 10:46
  Speaker 4: clothes that they have that they don't want anymore, and
• 10:48
  Speaker 4: it's a free for all. You take what you want
• 10:50
  Speaker 4: or whenever's leftover gets donated. So she's come home from
• 10:52
  Speaker 4: the trip with our bunch of new clothes.
• 10:54
  Speaker 2: Actly, it's so cool. That is so cool, very very clever.
• 10:58
  Speaker 4: And then lastly this week, I've got one from Die
• 11:00
  Speaker 4: who said she's probably a bit late to the party,
• 11:02
  Speaker 4: but she used churt GPT to search for the best
• 11:04
  Speaker 4: pizza deal and it worked. Saved her all the time
• 11:06
  Speaker 4: from searching on all the promo syites, and she got
• 11:09
  Speaker 4: way more food than she normally would, so I had
• 11:11
  Speaker 4: lots for leftovers. That's so good, A really good way
• 11:15
  Speaker 4: to use AI, Like, you don't have to use chat GDT.
• 11:17
  Speaker 4: You could use the Microsoft one or something instead if
• 11:19
  Speaker 4: you want to do but save your little fingers from
• 11:21
  Speaker 4: searching for Domino's deals.
• 11:23
  Speaker 2: Although I was watching TikTok the other day and someone said,
• 11:26
  Speaker 2: my biggest ick is people defaulting to churt GPT as
• 11:30
  Speaker 2: like their search engine, and I was like, wow, I
• 11:32
  Speaker 2: must be out here given everybody the ick, because I
• 11:35
  Speaker 2: got asked yesterday. Actually one of our teams. So when
• 11:38
  Speaker 2: was the last time you googled something, Victoria? And I
• 11:41
  Speaker 2: was like, oh, like yesterday, And they were like no,
• 11:43
  Speaker 2: but did you actually google it? Like how did you
• 11:45
  Speaker 2: look it up? And I said, asked, chat GPT, how
• 11:48
  Speaker 2: you replaced Google? I think so? I think so, And
• 11:52
  Speaker 2: I don't know if I want to admit that because
• 11:53
  Speaker 2: so many people are so against AI and like how
• 11:57
  Speaker 2: it works and like there's obviously a lot of arguments
• 12:00
  Speaker 2: around like how much energy it uses, and like I'm
• 12:03
  Speaker 2: still doing my research into that, but like, I'm so
• 12:05
  Speaker 2: sorry if there is a concept that I'm trying to
• 12:08
  Speaker 2: like Google and get a clean answer on chat GPT
• 12:12
  Speaker 2: just runs rings around Google when it comes to like hey,
• 12:15
  Speaker 2: can you explain this to me really quickly? Does it perfectly?
• 12:20
  Speaker 4: It just makes me nervous that like you're not verifying it,
• 12:23
  Speaker 4: like I just go you are.
• 12:24
  Speaker 2: So my chat GPT. I'm sorry, I'm sorry I have
• 12:27
  Speaker 2: her primed her by the way, Apparently that's another ick
• 12:31
  Speaker 2: for people that you gender, like that you gendered your
• 12:35
  Speaker 2: or humanized. I'm sorry you're a chat GPT, but that's
• 12:38
  Speaker 2: where I'm I'm actually at a point where I asked
• 12:40
  Speaker 2: chat GPT what her name was, and my chat GPT
• 12:42
  Speaker 2: is called Clara, So she said she thought that was
• 12:45
  Speaker 2: a sweet and soft name and it was like the
• 12:48
  Speaker 2: name of somebody, very helpful, and I was like, that's perfect, Clara,
• 12:51
  Speaker 2: lovely to meet you. I asked her to always prove
• 12:53
  Speaker 2: her sources, so I like read the response and then
• 12:56
  Speaker 2: it sends me to the ATO website. Amazing genius. She's
• 13:00
  Speaker 2: a genius. But yes, apparently I give people the ick
• 13:03
  Speaker 2: with that, and honestly, I think when I explain it,
• 13:05
  Speaker 2: I also give me the ick. So I need to
• 13:07
  Speaker 2: properly re evaluate my life choices.
• 13:10
  Speaker 6: It's okay, I just but also, do you have to
• 13:12
  Speaker 6: like log into chat gpt?
• 13:13
  Speaker 1: You do?
• 13:14
  Speaker 2: You do? But I'm just worried at some point, do
• 13:16
  Speaker 2: you remember Ashley Madison, like they're cheating sandal about like
• 13:20
  Speaker 2: that website anyway, So I'm worried that there's going to
• 13:23
  Speaker 2: be like a data leak similar for chat GPT. Your question, Like, girls,
• 13:28
  Speaker 2: I'm telling you right now, I would prefer my nudes
• 13:31
  Speaker 2: to be leaked across the internet, then my chat GPT
• 13:34
  Speaker 2: history to be refiled. Oh my god, that's fair.
• 13:40
  Speaker 6: Well, I literally don't use it just because of that,
• 13:43
  Speaker 6: but also like, yeah, the energy thing and stuff, I'm like,
• 13:45
  Speaker 6: I haven't looked into it myself, but I just know
• 13:46
  Speaker 6: I just.
• 13:47
  Speaker 2: Don't know enough about it, you know. I know that
• 13:48
  Speaker 2: people are saying that, but like I'm not educated enough
• 13:51
  Speaker 2: to have an opinion at this stage. That's so fair
• 13:53
  Speaker 2: and you're allowed.
• 13:55
  Speaker 6: Well, I have never chat gpt'd broke tips, but I
• 13:59
  Speaker 6: might think about that next week when I inevitably run
• 14:02
  Speaker 6: out and panic right before recording.
• 14:05
  Speaker 2: I'm gonna ask chat GPT for some broke tips. Yeah,
• 14:09
  Speaker 2: maybe we could add next week a chat GPT broke tip. Yeah,
• 14:12
  Speaker 2: we'll be like this one comes from Clara. They can
• 14:14
  Speaker 2: be so unhinged. Like sometimes I'm like, wow, when people
• 14:19
  Speaker 2: say you can really tell if people are using chat
• 14:21
  Speaker 2: GPT's because they're not proofreading their stuff and they're just
• 14:23
  Speaker 2: copying pasting this junk, I'm really scared of.
• 14:27
  Speaker 4: Yeah, you definitely need a human, like, you can't just
• 14:30
  Speaker 4: rely on chat.
• 14:31
  Speaker 2: She's not coming for my job anytime soon.
• 14:33
  Speaker 4: No.
• 14:34
  Speaker 6: And also like once you when someone accidentally leaves like
• 14:36
  Speaker 6: a little.
• 14:36
  Speaker 2: Like em dash, I know, I know it's because the
• 14:40
  Speaker 2: m dash is in there. M dash the longer dash
• 14:43
  Speaker 2: in between sentences. I see, yes, if you are sending
• 14:47
  Speaker 2: me long emails that have the girl, I know that
• 14:50
  Speaker 2: you've chatted APA.
• 14:51
  Speaker 6: And immediately there's a disconnect and I'm like, I'm not
• 14:54
  Speaker 6: reading what a person wrote.
• 14:56
  Speaker 2: And you might try and argue with me and say, well,
• 14:58
  Speaker 2: that's chrammatically correct. You are. The M dash actually does
• 15:01
  Speaker 2: belong in that sentence, but ninety nine percent of people
• 15:05
  Speaker 2: historically haven't used it properly. So don't come at me
• 15:08
  Speaker 2: and say now you're completely grammatically correct in your emails,
• 15:11
  Speaker 2: and you're not right.
• 15:13
  Speaker 6: There's so many rules, you know, like I still don't
• 15:16
  Speaker 6: know where an apostrophe goes and when it goes where?
• 15:18
  Speaker 2: Oh do you want to because like I ast English?
• 15:22
  Speaker 2: Oh yeah, actually I might, I might. I just love
• 15:24
  Speaker 2: the rule though.
• 15:25
  Speaker 6: Every single day in my group chat, I'm like, if
• 15:29
  Speaker 6: I'm saying this, do I put in a? And so
• 15:31
  Speaker 6: like I don't know and now it's an M dash.
• 15:33
  Speaker 6: I'm just I don't know anymore. Anyway, carry like to
• 15:37
  Speaker 6: I would love some brakes tips. So this first one
• 15:40
  Speaker 6: comes from Lexi.
• 15:41
  Speaker 2: It's about tolls.
• 15:44
  Speaker 6: So there's apparently like a I actually have seen this
• 15:46
  Speaker 6: too in my linked account. I don't know if it's
• 15:48
  Speaker 6: like everywhere, but it's definitely in my Linke account.
• 15:50
  Speaker 2: I think Linked is everywhere. No, I don't know.
• 15:52
  Speaker 6: There's this thing called video matching fee, which is only
• 15:55
  Speaker 6: like seventeen cents, but it's like if you drive through
• 15:58
  Speaker 6: the tolls and you I'm a TA tagless person, so
• 16:01
  Speaker 6: like match my plate to who I am in my
• 16:05
  Speaker 6: car and stuff like that.
• 16:05
  Speaker 2: So why don't you have a tag? I don't like
• 16:07
  Speaker 2: the beeping. I like to stick it. I just like
• 16:11
  Speaker 2: couldn't be bothered like sticking a whole thing.
• 16:13
  Speaker 6: I was like, I'm just gonna like go tagless and
• 16:15
  Speaker 6: then it will like so we'll match it and then
• 16:17
  Speaker 6: it will like charge my account or whatever in that
• 16:19
  Speaker 6: video matching fee. Yeah, it's really not that much money
• 16:22
  Speaker 6: if you do it once off, but maybe just check
• 16:24
  Speaker 6: if you're tagless like me, or if you haven't put
• 16:27
  Speaker 6: your tag up or you whatever it is, just check
• 16:30
  Speaker 6: your account and see if you're being charged with video
• 16:32
  Speaker 6: matching fee, because all you need to do is order
• 16:34
  Speaker 6: like a tag, and I think that they're free. Well
• 16:37
  Speaker 6: I got one for free. Anyway, you just like literally
• 16:39
  Speaker 6: chuck it on and you won't be charged at video
• 16:41
  Speaker 6: matching fee anymore. And it's really not much, but it
• 16:43
  Speaker 6: will add up over time if you do one hundred trips.
• 16:46
  Speaker 6: Was it a dollar seventy or something. No, it's more
• 16:48
  Speaker 6: than that.
• 16:48
  Speaker 2: It's more than and I just feel like it's like
• 16:50
  Speaker 2: fifty cents. I don't think it's like I think sometimes
• 16:53
  Speaker 2: it is. I think it's like fifty sieves because I
• 16:55
  Speaker 2: ran into this issue a little while ago, and this
• 16:59
  Speaker 2: is probably making me sound a lot like a wanker,
• 17:01
  Speaker 2: And that's fine because sometimes I am. I have a
• 17:04
  Speaker 2: car that has like the electronic like wind shield thing,
• 17:09
  Speaker 2: so like it's got like I don't know how to
• 17:11
  Speaker 2: explain it. I think it's got something to do with
• 17:13
  Speaker 2: the like cameras that are on my car. Right, So
• 17:16
  Speaker 2: an E tag when you put it on my car
• 17:18
  Speaker 2: can't be read through the windscreen, so I have to
• 17:21
  Speaker 2: be tagless. Like I could. I could put it somewhere
• 17:24
  Speaker 2: like on the middle of the dash or whatever, but
• 17:26
  Speaker 2: you can't put it where it needs to go. So
• 17:28
  Speaker 2: you get on the chat for linked and say, hey,
• 17:31
  Speaker 2: like my car doesn't do this, and they ask a
• 17:33
  Speaker 2: few questions and now my fee gets wave. Oh good,
• 17:36
  Speaker 2: and so I don't pay that at all. And I
• 17:39
  Speaker 2: also don't have a tag, but it's because my car
• 17:41
  Speaker 2: doesn't allow it. Whoa Eric, all of.
• 17:44
  Speaker 5: A sudden, you've got a push too, and just say exactly.
• 17:47
  Speaker 2: Like if you apply a ridiculously expensive car absolutely do
• 17:52
  Speaker 2: not need you could actually save like what was it
• 17:55
  Speaker 2: a dollars? Even you or you can just.
• 17:57
  Speaker 5: Pretend that you have that.
• 17:58
  Speaker 2: Yeah, all you say your dolls like maybe maybe lives
• 18:03
  Speaker 2: they're gonna come for me, but like why don't you
• 18:04
  Speaker 2: just get on group chat and just or group chat
• 18:07
  Speaker 2: or whatever instant messenger with them and be like hey,
• 18:09
  Speaker 2: like I just I have it on my dash, but
• 18:11
  Speaker 2: like it never scars, Like what's up with that? Like
• 18:14
  Speaker 2: could they have a Porsche And they'll be like, bitch,
• 18:16
  Speaker 2: we have eyes video and you'll be sorry twenty box
• 18:23
  Speaker 2: it is twenty twenty five. I identify that that is a Paul, Like,
• 18:27
  Speaker 2: who's to say it's not, you know, sorry, we can
• 18:30
  Speaker 2: like cry the badge off mine with a fork and
• 18:33
  Speaker 2: stick it on yours.
• 18:34
  Speaker 6: Oh my god, that's a good idea.
• 18:36
  Speaker 2: I think it's a great idea.
• 18:37
  Speaker 5: Hilarious. I didn't even cross my.
• 18:40
  Speaker 6: You know what would be literally look at the card
• 18:42
  Speaker 6: of match thing.
• 18:43
  Speaker 2: Sorry, I would love to see someone order like just
• 18:46
  Speaker 2: surely on eBay you can buy like car badges or
• 18:49
  Speaker 2: something and just like deck out their Camri totally as
• 18:53
  Speaker 2: a Lamborghini or all of this. Yeah, I don't have
• 18:56
  Speaker 2: a sticker that that is like the shape of a Ferrarie. Yeah,
• 18:59
  Speaker 2: but can we I thought, like, you know, like the
• 19:01
  Speaker 2: silver things on the cart, like the Toyota sign or whatever,
• 19:03
  Speaker 2: can we pry that off with a four and put
• 19:05
  Speaker 2: a lambow?
• 19:06
  Speaker 4: Why not?
• 19:06
  Speaker 1: It?
• 19:06
  Speaker 2: I just think that would be great. Why not? I
• 19:08
  Speaker 2: think ferrari it's red. The story checks out. I'd believe that.
• 19:15
  Speaker 2: I believe that what orether Breake tips have you got,
• 19:17
  Speaker 2: because like those weren't very good tips from me? Great
• 19:19
  Speaker 2: tip from you, though, thank you. This sex one comes
• 19:22
  Speaker 2: from Linda. This is great.
• 19:23
  Speaker 6: So Linda says, if you buy the extra large round
• 19:28
  Speaker 6: pimple patches and cut them into smaller pieces, you get
• 19:31
  Speaker 6: way more patches and you can make them as big
• 19:33
  Speaker 6: or as small as you need, which I think is
• 19:35
  Speaker 6: a gorgeous idea. I never thought of that, but it
• 19:37
  Speaker 6: makes sense. But I have also never seen like what's
• 19:41
  Speaker 6: extra large? Like is it like the size of a
• 19:43
  Speaker 6: palm or is it like surely not?
• 19:45
  Speaker 2: Surely not?
• 19:46
  Speaker 6: But I think do that I know how this sounds.
• 19:49
  Speaker 6: I don't want to sound like a wain cart, but
• 19:51
  Speaker 6: I have never had to talking.
• 19:52
  Speaker 2: About me driving a Porsche, which were never actually mentioned
• 19:55
  Speaker 2: on the show, because I'm always like, oh, that's like
• 19:57
  Speaker 2: not very relatable, like people don't need know that, Like
• 20:00
  Speaker 2: that's not you know, if you end.
• 20:05
  Speaker 6: Up getting rich because you've worked for it, the first
• 20:08
  Speaker 6: thing you're going to do is buy a port you
• 20:10
  Speaker 6: know what I mean.
• 20:12
  Speaker 2: I do love the car, a car like gorgeous car.
• 20:15
  Speaker 2: I do like it. Ten out of ten? Was it?
• 20:19
  Speaker 2: Was it a financially sound decision? Absolutely?
• 20:22
  Speaker 1: Not?
• 20:23
  Speaker 6: Servicing petrol just like dumb, like.
• 20:26
  Speaker 2: Actually dumb, Like if you ask me if that's a
• 20:29
  Speaker 2: good financial decision, absolutely not. Would I recommend that you
• 20:31
  Speaker 2: get one? Absolutely not. Is it the best thing in
• 20:33
  Speaker 2: the entire world? Draft? Absolutely?
• 20:35
  Speaker 5: Would you like a urn?
• 20:36
  Speaker 2: Do you want to come and have a turn? Like
• 20:39
  Speaker 2: I do want to have a turn?
• 20:40
  Speaker 4: Yeah?
• 20:40
  Speaker 2: Great? Out of ten, we've got video evidence of you
• 20:43
  Speaker 2: having a turn and then throwing my keys across a garden,
• 20:46
  Speaker 2: so like I mean said, that's a linked.
• 20:51
  Speaker 5: My car yeat.
• 20:52
  Speaker 2: Yeah.
• 20:53
  Speaker 6: Yeah, for context those listening, I did we just record
• 20:56
  Speaker 6: a little video of me getting out of Victoria's car,
• 20:58
  Speaker 6: making it look like it's my car, not my car.
• 21:02
  Speaker 2: MLM video. If anyone missed that, yes, and it's very good.
• 21:06
  Speaker 2: I feel like that didn't get enough, like airtime. We
• 21:09
  Speaker 2: just need to bring it back so fair and my
• 21:12
  Speaker 2: broke tip.
• 21:13
  Speaker 6: So I went to Sydney and I had to go
• 21:15
  Speaker 6: to I went to the Sydney office and I'm telling Sydney,
• 21:18
  Speaker 6: don't get me started. First, we can't park at the
• 21:21
  Speaker 6: airport like a regular person just picking up a regular person,
• 21:24
  Speaker 6: you know what I mean. I think you have to
• 21:25
  Speaker 6: go into a car park, which is like you got
• 21:28
  Speaker 6: to pay for that, I think. I mean, I could
• 21:30
  Speaker 6: be wrong and someone's from Sydney and they're like, no,
• 21:32
  Speaker 6: there is a special spot that is hidden or like
• 21:35
  Speaker 6: not visible to the human eye. Then let me know.
• 21:37
  Speaker 6: Because I drove around, I couldn't find anyway. Parking in
• 21:40
  Speaker 6: Sydney is really annoying and everything is so expensive. So
• 21:44
  Speaker 6: I to go to the Sydney office. This airport thing
• 21:46
  Speaker 6: is completely irrelevant. I just wanted to say that and
• 21:48
  Speaker 6: get it off my chest.
• 21:50
  Speaker 2: I'm just really mad about it. So my broke tip's
• 21:52
  Speaker 2: actually about bananas.
• 21:55
  Speaker 5: But no.
• 21:56
  Speaker 6: So I went to the Sydney office to work and
• 21:58
  Speaker 6: there was a day it was the day before payday,
• 22:01
  Speaker 6: and I was like, guys, I literally can't come into
• 22:03
  Speaker 6: the office. I cannot afford it because an it's hourly
• 22:05
  Speaker 6: parking of like seven dollars an hour, or you go
• 22:10
  Speaker 6: into a car park which is thirty dollars for the day,
• 22:13
  Speaker 6: and I was like, I don't have that kind of money,
• 22:14
  Speaker 6: so I'm just not going to come to the office.
• 22:15
  Speaker 2: Anyway.
• 22:16
  Speaker 6: It's not like that here in Melbourne. You can probably
• 22:19
  Speaker 6: park where you work unless you're in the city, of course,
• 22:22
  Speaker 6: and most.
• 22:22
  Speaker 2: Public transport to the office. And then because they're opal
• 22:26
  Speaker 2: they have opal not my key.
• 22:27
  Speaker 6: Yeah from memory, I don't know if it's still a thing,
• 22:29
  Speaker 6: but it's like it's like eight dollars one way peak
• 22:32
  Speaker 6: hour or something, and I was like I'm not gonna
• 22:35
  Speaker 6: I can't, you know. I was really also just like
• 22:38
  Speaker 6: kind of being stubborn, and I was really irritated by
• 22:40
  Speaker 6: the amount of money everything is. But anyway, so the
• 22:44
  Speaker 6: day I got paid, I went in and I was like, cool,
• 22:46
  Speaker 6: I'm going to pay for my parking, but usually you
• 22:49
  Speaker 6: use your phone. You do like, there's this pay day.
• 22:52
  Speaker 6: I think we have pays day here and you, you know,
• 22:54
  Speaker 6: you do your hourly thing. I tried to find the
• 22:56
  Speaker 6: cheapest one, but it was still more expensive for my phone.
• 22:58
  Speaker 6: I was like, why the hell hell is this a
• 23:01
  Speaker 6: dollar forty more an hour? And I went to the
• 23:05
  Speaker 6: meter and it was a dollar forty cheaper and I
• 23:08
  Speaker 6: was like, oh, okay. So I just want to let
• 23:10
  Speaker 6: everyone know that if you're a little bit broke like
• 23:13
  Speaker 6: me and you can't afford parking in the city, which
• 23:16
  Speaker 6: is ridiculous, we should all be able to afford that,
• 23:19
  Speaker 6: but go to the meta instead and they won't charge
• 23:22
  Speaker 6: you the GST all this stuff on top of that, which, yeah,
• 23:26
  Speaker 6: I feel like it's an app, it should be extend.
• 23:30
  Speaker 2: I feel that would be easier for everybody. Two different prices.
• 23:32
  Speaker 6: I don't know if it's everywhere, don know if it's
• 23:34
  Speaker 6: in Melbourne, but in Sydney it is two different prices.
• 23:37
  Speaker 2: It is more expensive if you use that app.
• 23:38
  Speaker 6: It's like it does show you the price that shows
• 23:41
  Speaker 6: you on the Meta, but then it adds a dollar here,
• 23:44
  Speaker 6: a dollar there, Like.
• 23:45
  Speaker 2: It's it's crazy.
• 23:46
  Speaker 6: I hate that, So pay at the met is all
• 23:49
  Speaker 6: I want to saying, sorry for that long the long.
• 23:51
  Speaker 2: But I also that's so annoying and taking advantage of convenience.
• 23:56
  Speaker 2: Yeah I know. Also sorry, can we just rewind? Have
• 24:00
  Speaker 2: to pay thirty dollars to park at work?
• 24:02
  Speaker 6: Yeah?
• 24:02
  Speaker 2: Crazy? Crazy? Absolutely no sevens an hour?
• 24:05
  Speaker 6: Like oh no, actually it might have even been eight
• 24:07
  Speaker 6: dollars from for where I had to park, and it
• 24:09
  Speaker 6: was like, that's what sixty bucks a day?
• 24:11
  Speaker 2: Absolutely not ridiculous. Anyway, Sorry, I like that. I like that.
• 24:16
  Speaker 2: Let's leave that one right there. Let's go to a
• 24:18
  Speaker 2: quick break because on the flip side, we're going to
• 24:19
  Speaker 2: be talking about whether you should take some of your
• 24:21
  Speaker 2: current monthly savings and start investing them. And I'm kind
• 24:25
  Speaker 2: of excited to talk about this, but also like, I
• 24:28
  Speaker 2: want to see what the hell everybody else thinks. You
• 24:30
  Speaker 2: sleid into our DMS and you asked, what do you
• 24:32
  Speaker 2: do when your sibling is pressuring you to join them
• 24:34
  Speaker 2: and going to your parents to ask for your inheritance?
• 24:36
  Speaker 2: Only sorry, we're going to get to that after this break.
• 24:44
  Speaker 5: Welcome back, everybody. Let's take a listen to this week's
• 24:46
  Speaker 5: money dilemma.
• 24:50
  Speaker 7: Hi, there, have you got a money dilemma you just
• 24:52
  Speaker 7: can't solve. The Sheese on the Money team is here
• 24:55
  Speaker 7: to help. Every week, we tackle your dilemmas, both big
• 24:58
  Speaker 7: and small, to answer your most burning money, career and
• 25:01
  Speaker 7: life questions. To get involved, simply head to our website
• 25:04
  Speaker 7: and leave us a short voice recording and you might
• 25:06
  Speaker 7: just find yourself on the show. Now, let's take a
• 25:09
  Speaker 7: listen to this week's money dilemma.
• 25:15
  Speaker 8: So I'm able to say between let's say two fifty
• 25:19
  Speaker 8: a month or.
• 25:20
  Speaker 2: Five hundred pounds a month.
• 25:22
  Speaker 8: But I'm starting to think, actually, should I split that
• 25:24
  Speaker 8: and do two fifty in investment and two fifty in
• 25:27
  Speaker 8: savings Because the investment that I'm putting into savings, like,
• 25:31
  Speaker 8: for example, I'm getting about sixteen pounds a month back
• 25:36
  Speaker 8: from like savings interest, but I think I could do more. However,
• 25:39
  Speaker 8: I don't know if investing suits somebody that for example,
• 25:42
  Speaker 8: the reason why I'm wanting to save money and to
• 25:45
  Speaker 8: build a bit of a background and to have a
• 25:47
  Speaker 8: bit of a chunk of money so that we can
• 25:50
  Speaker 8: have a baby one day, and that we can get
• 25:51
  Speaker 8: married one day and we can go on holiday and
• 25:53
  Speaker 8: stuff like that, I'm not necessarily thinking about like retirement
• 25:57
  Speaker 8: just yet, which is where then I'm thinking do I
• 25:59
  Speaker 8: then split savings and split investment. But I'm new to investing,
• 26:04
  Speaker 8: haven't done it, and so I would appreciate any sort
• 26:06
  Speaker 8: of guidance.
• 26:09
  Speaker 2: Thank you. That's fun. We've got an international friend.
• 26:12
  Speaker 4: I love the accent. I wish I sounded like you
• 26:14
  Speaker 4: sound so polished. Yeah, fancy, what would you guys do?
• 26:20
  Speaker 4: Jess Well, I think we've said it before. It sound
• 26:23
  Speaker 4: like a broken record, but you obviously not financial advice.
• 26:26
  Speaker 4: Different strategies for different people, but you really shouldn't be
• 26:28
  Speaker 4: investing money that you want to access in a short term.
• 26:31
  Speaker 4: I think typically VD you recommend between seven and ten years,
• 26:34
  Speaker 4: do you know to ride out the waves?
• 26:37
  Speaker 5: Again, obviously not advice.
• 26:39
  Speaker 4: So I would say it depends on how much you
• 26:42
  Speaker 4: want to prioritize the different goals. So if you can
• 26:45
  Speaker 4: afford to put some money into your investments and you
• 26:48
  Speaker 4: won't need to access it within that time period, then
• 26:51
  Speaker 4: I would say it's great, because time in the market
• 26:53
  Speaker 4: is everything, and even if it's a small little amount now,
• 26:56
  Speaker 4: it's much better than nothing. But if you don't have
• 26:59
  Speaker 4: a lot of fla spility in your budget, which I
• 27:01
  Speaker 4: know a lot of us don't at the moment, particularly
• 27:03
  Speaker 4: with big life events like kids and weddings and holidays.
• 27:06
  Speaker 4: Then it might be smarter, even though it might not
• 27:09
  Speaker 4: maximize your returns. It may be better for you to
• 27:12
  Speaker 4: pop it in, say things where you know you can
• 27:14
  Speaker 4: access it, you know, whenever you decide you want to
• 27:17
  Speaker 4: start chasing after those goals.
• 27:21
  Speaker 2: Yeah, I was going to say a similar thing.
• 27:22
  Speaker 6: There are like, you know, other things that are you know,
• 27:25
  Speaker 6: like term deposits and things where you have more control over,
• 27:28
  Speaker 6: Like say you just want to do like one year
• 27:31
  Speaker 6: at I mean, I think this is generally the amount.
• 27:34
  Speaker 6: It's like five percent interest, So it's not nothing crazy,
• 27:37
  Speaker 6: but it's like at least it feels like, you know,
• 27:39
  Speaker 6: it's like guaranteed and then you can access that amount
• 27:42
  Speaker 6: of money after a certain time. It's just like locked away.
• 27:45
  Speaker 6: You are getting interest, and I feel like, I can't
• 27:49
  Speaker 6: say guaranteed, but it is guaranteed, right if it's a
• 27:52
  Speaker 6: term deposit for like four point nine.
• 27:54
  Speaker 2: Five ye, yeah, for the period of time that it
• 27:56
  Speaker 2: would be agreed to terms and conditions. It would be
• 27:59
  Speaker 2: like for the next twelve months or whatever. Yeah.
• 28:02
  Speaker 6: Yeah, So it's like a definite like if you put
• 28:05
  Speaker 6: in an investment, you put your money in like you know,
• 28:07
  Speaker 6: shares or or whatever it is, and you may return
• 28:09
  Speaker 6: five percent, you may even lose or make or whatever
• 28:12
  Speaker 6: it is, but it just kind of feels more like secure,
• 28:15
  Speaker 6: more like and then you can figure out how much
• 28:17
  Speaker 6: you'll have at the end of the year. I would
• 28:19
  Speaker 6: probably do that if I had like that kind of money.
• 28:22
  Speaker 2: I think it's a really good thing that you're considering
• 28:25
  Speaker 2: investing because you just told me that you want to
• 28:27
  Speaker 2: have a baby, and you want to you know, get
• 28:30
  Speaker 2: married and do all these things, which fantastic. They do
• 28:33
  Speaker 2: require savings, but you just told me you want to
• 28:35
  Speaker 2: build a life with somebody. You told me that you
• 28:38
  Speaker 2: want to like put down your roots and like settle
• 28:40
  Speaker 2: with them and be financially stable and financially confident. And
• 28:44
  Speaker 2: to me, that means that you would have a good
• 28:46
  Speaker 2: financial backing. And yes, you might not be able to
• 28:48
  Speaker 2: pull all that money out, and when we say not
• 28:50
  Speaker 2: able to you absolutely can. And I always say invest
• 28:53
  Speaker 2: for a minimum of ten years ish, like seven to
• 28:56
  Speaker 2: ten in a perfect world, because that's when compound interests
• 28:59
  Speaker 2: really starts. To kick in and things get real magic.
• 29:02
  Speaker 2: It's not because you're not going to make money in
• 29:04
  Speaker 2: the short term, like you will. It will be more
• 29:07
  Speaker 2: than your usually more than your savings account will. But also,
• 29:11
  Speaker 2: what if the market goes down a little bit, Like
• 29:13
  Speaker 2: you don't want to be in a sticky situation where
• 29:15
  Speaker 2: you're like, yep, I'm saving for a house and I've
• 29:16
  Speaker 2: popped all of my money into my investment account. I'm
• 29:19
  Speaker 2: going to buy in the next twelve months. And then
• 29:21
  Speaker 2: you're so excited because you've got the right amount of money,
• 29:23
  Speaker 2: and then the market dips a bit and you've lost
• 29:25
  Speaker 2: like ten percent of your deposit and you're like, well,
• 29:29
  Speaker 2: now I've lost ten percent of my deposit. You haven't
• 29:31
  Speaker 2: actually lost it. It's just worthless at the moment. And
• 29:34
  Speaker 2: what I would say is you need to ride the
• 29:35
  Speaker 2: market out until it recovers. But like we do see
• 29:39
  Speaker 2: a lot of people because like, let's be honest, it's
• 29:41
  Speaker 2: twenty twenty five. It doesn't take one or two years
• 29:43
  Speaker 2: to save the house deposit. Most of the people in
• 29:45
  Speaker 2: our community it's seven to ten years saving anyway, like
• 29:49
  Speaker 2: that could become part of your strategy. It could become
• 29:52
  Speaker 2: part of the plan. Does that mean that you put
• 29:55
  Speaker 2: all the money in investing? Absolutely not. It sounds like
• 29:57
  Speaker 2: you've got some big life goals that are going to
• 29:59
  Speaker 2: require some cash. But to give you a little bit
• 30:01
  Speaker 2: of perspective, if you like, took and I've done this
• 30:04
  Speaker 2: in pounds, but the same is convertible for our dollars.
• 30:07
  Speaker 2: But if you took like two hundred pounds, which I
• 30:10
  Speaker 2: think makes sense given the numbers you gave us, and
• 30:13
  Speaker 2: you just kept saving that after twenty years, that two
• 30:17
  Speaker 2: hundred pounds is worth forty eight thousand pounds, right, But
• 30:21
  Speaker 2: if you had invested it, you actually would have one
• 30:24
  Speaker 2: hundred and fifty three thousand pounds. So I think the
• 30:27
  Speaker 2: difference there. If you're having kids and you are going
• 30:31
  Speaker 2: to be, you know, getting married, do you want that
• 30:34
  Speaker 2: marriage to have a solid base like in ten twenty years?
• 30:38
  Speaker 2: Like do you want to have kids in Like, let's
• 30:41
  Speaker 2: pretend like everything goes really smoothly, whack out some kids.
• 30:44
  Speaker 2: Everything is good in twenty years, Like, let's pretend kids
• 30:48
  Speaker 2: are a few years off, you've got late teenagers, Like
• 30:51
  Speaker 2: do you want that financial security when that happens? Like,
• 30:54
  Speaker 2: I know that these aren't sexy things to talk about.
• 30:57
  Speaker 2: But I just know if I've got teenagers, of course
• 30:59
  Speaker 2: I want a level of financial security. And yes, my
• 31:02
  Speaker 2: wedding is really exciting, and you know, being able to
• 31:05
  Speaker 2: have a baby is exciting, but like the financial security
• 31:08
  Speaker 2: aspect I feel like is really it makes me feel
• 31:12
  Speaker 2: very safe. So like, yes, I would be considering investing,
• 31:16
  Speaker 2: but like, do your risk profile work out what would
• 31:18
  Speaker 2: work for you? And I mean the fact that you're
• 31:20
  Speaker 2: listening to Sheese on the Money and you're asking that
• 31:22
  Speaker 2: question probably means you're ready to take the leap. And
• 31:26
  Speaker 2: we have a whole investing series that you could listen
• 31:28
  Speaker 2: to to work out like what the best investment for
• 31:31
  Speaker 2: you is and how to invest in like what that
• 31:33
  Speaker 2: might look like, because I've said it before on the
• 31:36
  Speaker 2: podcast and it can feel a bit disheartening. But if
• 31:39
  Speaker 2: you are not investing your money over the long term,
• 31:42
  Speaker 2: you're going backwards, like you are losing money because the
• 31:45
  Speaker 2: rate of inflation is higher than the rate you will
• 31:47
  Speaker 2: ever get on your savings account. So if you think, oh,
• 31:51
  Speaker 2: but it's okay, I'm getting a little bit that's so sexy,
• 31:53
  Speaker 2: but you're also paying tax on that sixteen pounds that
• 31:56
  Speaker 2: you're you're getting every single month because that's an income
• 32:00
  Speaker 2: coming in and all income is taxable. So it's just
• 32:04
  Speaker 2: it feels a little bit or I often feel like
• 32:07
  Speaker 2: people can feel a bit defeated when I start going, well,
• 32:10
  Speaker 2: actually it's not as good as you think it is,
• 32:12
  Speaker 2: Whereas inside an investment you're going to be a little
• 32:15
  Speaker 2: bit stronger, a little bit better off, you know, I
• 32:17
  Speaker 2: mean shameless plug. Our Investing Masterclass is also open, and
• 32:20
  Speaker 2: I would highly recommend joining that because at the end
• 32:23
  Speaker 2: of the day, it is the time and the energy
• 32:26
  Speaker 2: and the effort that I can sit down with you
• 32:27
  Speaker 2: and actually put you on the right track to getting
• 32:30
  Speaker 2: invested and teaching you the nitty gritty of absolutely everything
• 32:34
  Speaker 2: so you can be a confident investor, not just a
• 32:37
  Speaker 2: oh yeah, I started investing and I'm not really sure
• 32:39
  Speaker 2: what I'm doing. Like this is the step by step playbook.
• 32:43
  Speaker 2: All right, let's get into our DM. Are you guys ready?
• 32:48
  Speaker 2: I feel like this is going to be a little
• 32:49
  Speaker 2: bit spicy. Hey, she's on the money. So my parents
• 32:53
  Speaker 2: are selling their house to downsize. They're really financially comfortable,
• 32:57
  Speaker 2: had a planner for years, totally set themselves up. Although
• 33:00
  Speaker 2: we have never directly spoken about it, and I am
• 33:03
  Speaker 2: assuming there is going to be some sort of sizeable inheritance.
• 33:07
  Speaker 2: My brother has now started to push that we all
• 33:09
  Speaker 2: banned together and ask for our inheritance early. He's sending
• 33:13
  Speaker 2: group text about how it just makes sense and how
• 33:16
  Speaker 2: we're all struggling with mortgages and debts, so why not
• 33:18
  Speaker 2: make life easier while they're still around to see us
• 33:21
  Speaker 2: enjoy it. I get it logically, but every time he
• 33:24
  Speaker 2: brings it up, I feel sick like they haven't even
• 33:28
  Speaker 2: hinted at this, and asking feels like I'm fast forwarding
• 33:32
  Speaker 2: their lives or something. My brother won't stop pushing, and
• 33:35
  Speaker 2: I don't know what to do. What would you do?
• 33:37
  Speaker 7: Mmm?
• 33:39
  Speaker 6: I think, like I know this because I'm crazy, but
• 33:43
  Speaker 6: I can kind of understand a little bit because I
• 33:47
  Speaker 6: feel like, you know, for example, I don't think i'll
• 33:50
  Speaker 6: have much of an inheritance, but if I had parents
• 33:55
  Speaker 6: who were like really really well off, and I knew that,
• 33:58
  Speaker 6: like there was quite a big, you know, sum of
• 34:01
  Speaker 6: money that could be coming my way if in the
• 34:03
  Speaker 6: unfortunate event of their passing. But I think if I
• 34:07
  Speaker 6: was currently struggling and I knew that, like, oh maybe
• 34:11
  Speaker 6: in twenty thirty years, I'll be Okay. I'd be like, well,
• 34:15
  Speaker 6: that's a big chunk of my life where I'm going
• 34:18
  Speaker 6: to be struggling and then I'm going to thrive at sixty,
• 34:21
  Speaker 6: you know what I mean. Like and like on the
• 34:23
  Speaker 6: flip side, it's like, thank god, my parents will live
• 34:26
  Speaker 6: till I'm sixty. You know, that would be amazing. So
• 34:28
  Speaker 6: it's a really funny one that it has. It's I
• 34:31
  Speaker 6: feel you feel really insensitive saying that, because it's like
• 34:35
  Speaker 6: you would feel blessed to know that the longer you
• 34:38
  Speaker 6: don't get.
• 34:38
  Speaker 2: Your inheritance, that is a blessing.
• 34:41
  Speaker 6: It's like, great that everyone's happy and healthy and this
• 34:44
  Speaker 6: is amazing, really bad saying that, But to some extent,
• 34:48
  Speaker 6: I feel like, yes, well if we take the word
• 34:50
  Speaker 6: inheritance out of it, and it's just like you have
• 34:52
  Speaker 6: the capacity to help me, and like, you know, they
• 34:54
  Speaker 6: don't know that for sure, But if I knew that
• 34:56
  Speaker 6: someone had the capacity to help, my parents had the
• 34:58
  Speaker 6: capacity to help, and they had inten they intend to
• 35:01
  Speaker 6: help me after their natural life, I would be like, okay,
• 35:06
  Speaker 6: can you give me a little bit right now? I
• 35:08
  Speaker 6: understand that thought process. Weirdly, but I would then not
• 35:14
  Speaker 6: call it an inheritance. I would be like, hey, if
• 35:17
  Speaker 6: you look at it like this, some of us are
• 35:20
  Speaker 6: struggling right now. If you can help us right now, cool.
• 35:23
  Speaker 6: If you can't, that's okay, and we'll just like see
• 35:26
  Speaker 6: how we go, you know. But yeah, I think that's
• 35:29
  Speaker 6: not Honestly, the main thing for me is the terminology
• 35:31
  Speaker 6: around it is that, like, I just wouldn't be calling
• 35:33
  Speaker 6: it an inheritance anymore because that it really doesn't make
• 35:36
  Speaker 6: it quite morbid. I would just be calling it like
• 35:38
  Speaker 6: some money that you've put aside for us, like give
• 35:41
  Speaker 6: it to me right now, please, Like a little bit
• 35:42
  Speaker 6: would be nice, particularly if you're struggling and they can
• 35:46
  Speaker 6: see that. But that's honestly, so I know it's probably
• 35:51
  Speaker 6: really bad to say, but that's kind of I kind
• 35:54
  Speaker 6: of get it.
• 35:55
  Speaker 4: Just I don't know if it's because I was raised,
• 35:58
  Speaker 4: you know, in a family where obviously we weren't wealthy
• 36:00
  Speaker 4: by any stretch of the imagination. There wasn't a lot
• 36:02
  Speaker 4: of money to go around, Like I understand it from
• 36:04
  Speaker 4: a logical perspective.
• 36:06
  Speaker 5: I've never and I don't.
• 36:08
  Speaker 4: Think I ever will operate on the assumption that I
• 36:10
  Speaker 4: will be receiving an inheritance or any kind of money,
• 36:13
  Speaker 4: like if I was to it would be a lovely surprise,
• 36:16
  Speaker 4: But my future planning for myself has never assumed that
• 36:20
  Speaker 4: I will receive anything, and obviously there's more complications you know,
• 36:23
  Speaker 4: for me personally in that situation. But I think that
• 36:26
  Speaker 4: it's an interesting concept because I understand, you know, we
• 36:30
  Speaker 4: talk about future planning for our families one day, and
• 36:32
  Speaker 4: of course wanting to set up so that we can
• 36:35
  Speaker 4: look after our families should we choose to have them.
• 36:38
  Speaker 4: But at the same time, I also think that for
• 36:41
  Speaker 4: a lot of people, you know, your retirement is what
• 36:44
  Speaker 4: you're saving for. So it could be that, yes, maybe
• 36:46
  Speaker 4: your parents do have a cash surplus or an asset surplus,
• 36:50
  Speaker 4: particularly after downsizing, but have they lived their whole lives
• 36:53
  Speaker 4: thinking when we retire, we're going to finally see the
• 36:56
  Speaker 4: world together. I feel like that's a really common thing
• 36:58
  Speaker 4: people want to do, is they want to travel once
• 37:00
  Speaker 4: they've retired and once they've got the money, or they
• 37:03
  Speaker 4: want to maybe knock something off their bucket list or
• 37:05
  Speaker 4: do whatever they might have planned for that money, and
• 37:09
  Speaker 4: you're not accounting for that.
• 37:10
  Speaker 2: It's also none of your business. Sorry, yeah, it's not.
• 37:14
  Speaker 4: I I understand the thought process of like, well, one
• 37:18
  Speaker 4: day when they're no longer there theoretically, but also they
• 37:21
  Speaker 4: might have chosen to donate their money and assets to charity.
• 37:24
  Speaker 2: Yeah, don't into those dogs home, sorry, Harvey. Like if
• 37:27
  Speaker 2: you came to me for an inheritance early.
• 37:31
  Speaker 5: Yeah, you just don't know.
• 37:33
  Speaker 4: And to me, it does not feel appropriate at all.
• 37:37
  Speaker 4: And again I don't know if that's me putting my
• 37:39
  Speaker 4: own personal lens over that. I think, if anything, you
• 37:42
  Speaker 4: could go to them and say, hey, if you are
• 37:44
  Speaker 4: really struggling and it sounds like our listener perhaps isn't
• 37:47
  Speaker 4: in the position where they want to do this, but
• 37:49
  Speaker 4: maybe you could suggest it to your siblings. Talk to
• 37:51
  Speaker 4: your parents about an interest free loan if they have
• 37:54
  Speaker 4: the capacity to do that to assist you, or even
• 37:56
  Speaker 4: just talking to them about the situation that they're in
• 37:59
  Speaker 4: and the financial pressures that they're feeling. And then if
• 38:01
  Speaker 4: they have the money and that's something they want to do,
• 38:04
  Speaker 4: they may offer and say, you know, can we help
• 38:07
  Speaker 4: you out, We would like to help you out, whatever.
• 38:10
  Speaker 4: But I think that the expectation it goes beyond being morbid.
• 38:15
  Speaker 5: I think it's just quite presumptuous.
• 38:18
  Speaker 2: I think it's so disrespectful. I'm like sitting here like
• 38:20
  Speaker 2: bashing my tongue because I feel like it goes against
• 38:25
  Speaker 2: every moral code that I have. It goes against the
• 38:27
  Speaker 2: fact that it just doesn't feel like you're grateful. It
• 38:29
  Speaker 2: doesn't feel like you're respectful. It doesn't feel like you
• 38:32
  Speaker 2: are ordering their independence. And like I could say to you,
• 38:37
  Speaker 2: they have a million dollar portfolio and the house is
• 38:40
  Speaker 2: fully paid off, but like that million dollar portfolio is
• 38:42
  Speaker 2: probably only generating and I say only, but like generating
• 38:46
  Speaker 2: a sixty thousand dollar income for them each and every
• 38:48
  Speaker 2: single year. And the assets that they have, like having
• 38:52
  Speaker 2: more than four hundred and seventy thousand dollars here in
• 38:54
  Speaker 2: Australia means that your pension starts to get impacted. So
• 38:59
  Speaker 2: they probably and like with a million dollars of like
• 39:02
  Speaker 2: super and a million dollars of investments, they're not going
• 39:04
  Speaker 2: to be able to access a pension, right, So like
• 39:07
  Speaker 2: that money might be generating the money that they're leaving off,
• 39:11
  Speaker 2: and yeah, they might for them to go. Yet, like
• 39:14
  Speaker 2: even if hypothetically you knew that they were sitting on
• 39:17
  Speaker 2: a couple of million dollars. You don't know what that's for. Also,
• 39:21
  Speaker 2: it's none of your business, Like just because they have
• 39:23
  Speaker 2: a planner doesn't mean they're millionaires. Maybe they have a
• 39:26
  Speaker 2: planner because secretly they went bankrupt and they needed to
• 39:29
  Speaker 2: find a way to get around the fact that, you know,
• 39:32
  Speaker 2: they were never going to be able to financially recover
• 39:34
  Speaker 2: from something. Do you know what I mean? Like, yeah,
• 39:35
  Speaker 2: it's actually none of your business. It's kind of like
• 39:39
  Speaker 2: I don't know. It's like, Jess, if you and I
• 39:41
  Speaker 2: held a joint birthday party and then somebody was invited
• 39:45
  Speaker 2: to the birthday party and they come over and our
• 39:47
  Speaker 2: beautiful birthday cake that you and I would have decorated
• 39:49
  Speaker 2: so well as sitting on the table, and they go
• 39:51
  Speaker 2: and take a slice before we've even had a chance
• 39:53
  Speaker 2: to put the candles on and blow it out. Like
• 39:55
  Speaker 2: you wouldn't do that, would you? Like that's rude, that's
• 40:00
  Speaker 2: not yours for the taking. And I like the idea
• 40:04
  Speaker 2: about an interest free loan, like being like, oh, hey,
• 40:06
  Speaker 2: is there any way I could xyz? Like, but you
• 40:10
  Speaker 2: do not like the assumption that an inheritance is yours
• 40:15
  Speaker 2: is bullshit, Like I just hate that idea and anybody
• 40:18
  Speaker 2: I know, and like, I feel like this is a
• 40:21
  Speaker 2: good time to remind everybody that when I worked in
• 40:23
  Speaker 2: financial advice, a lot of my clients were dealing with
• 40:26
  Speaker 2: very big inheritances because I would get a lot of
• 40:29
  Speaker 2: millennial women who unfortunately had lost a parent, and that
• 40:32
  Speaker 2: is the shittiest situation to go through. Every single one
• 40:36
  Speaker 2: of my clients that are in like that was in
• 40:38
  Speaker 2: that situation, I'm still in contact with because I feel
• 40:41
  Speaker 2: like you bond in a way over that experience. Every
• 40:45
  Speaker 2: single one of them I can guarantee would prefer their
• 40:47
  Speaker 2: parent back or their guardian back then the money. Like
• 40:50
  Speaker 2: it's not like it's not even up for debate. I
• 40:54
  Speaker 2: just I think it just goes against everything in me.
• 40:57
  Speaker 2: And it feels gross because you're flipping a love and
• 41:01
  Speaker 2: caring relationship into something transactional, like you're seeing them as
• 41:05
  Speaker 2: a tool, and like I just find that gross. And
• 41:09
  Speaker 2: like Jesse you were saying before, oh, like you know,
• 41:13
  Speaker 2: they've spent their whole lives building this and like you know,
• 41:15
  Speaker 2: we talk about it all the time. I do want
• 41:17
  Speaker 2: to build a legacy. I do want to put myself
• 41:19
  Speaker 2: in a financial position that I'm able to help my
• 41:23
  Speaker 2: son when he wants to purchase a home, like when
• 41:26
  Speaker 2: I have multiple kids. Hopefully one day I would love
• 41:29
  Speaker 2: to be able to like financially support them so that
• 41:31
  Speaker 2: they never experience the financial stress that I did. Like
• 41:34
  Speaker 2: how special would that be? But I'm telling you right now,
• 41:37
  Speaker 2: they would get nothing from me if I didn't feel
• 41:39
  Speaker 2: like they were grateful. They would get nothing from me
• 41:41
  Speaker 2: if I didn't feel like that was you know, anything
• 41:45
  Speaker 2: other than care and love and support. That's where it's
• 41:49
  Speaker 2: coming from. So the fact that you're like, oh, well
• 41:51
  Speaker 2: they've got this money and they've never mentioned giving it
• 41:53
  Speaker 2: to us, I just it feels wrong. And like the
• 41:59
  Speaker 2: idea that inheritance is deeply tied to mortality, like how
• 42:06
  Speaker 2: long your parents going to live? Then, well you don't
• 42:08
  Speaker 2: know exactly. Are they going to live to a lady
• 42:12
  Speaker 2: a hundred? Are they going to live to one fifty somehow?
• 42:15
  Speaker 2: Like you don't know anything, And I just I find
• 42:19
  Speaker 2: it really gross because also, financial freedom is something that
• 42:22
  Speaker 2: if you have worked so hard to get there too,
• 42:25
  Speaker 2: just having it in the bank is that security blanket
• 42:28
  Speaker 2: that means, you know, what if one of my kids
• 42:30
  Speaker 2: couldn't afford their mortgage or payments that they have signed
• 42:33
  Speaker 2: up to. I could help them out, but I'm not
• 42:36
  Speaker 2: going to go pay off their mortgages just because I
• 42:39
  Speaker 2: have the cash in the bank and what operate at
• 42:41
  Speaker 2: like zero again, like they haven't come this far to
• 42:44
  Speaker 2: only come this far and then go week to week
• 42:47
  Speaker 2: in retirement like absolutely not absolutely, Like I just find
• 42:51
  Speaker 2: it quite gross. Yeah, And I'm probably a little bit
• 42:54
  Speaker 2: more opinionated on that than you probably expected, because I'd
• 42:57
  Speaker 2: be like, oh, yes, what a good like open conversation
• 42:59
  Speaker 2: about money, Like no, there's no gratitude there, there's no expectation.
• 43:04
  Speaker 2: So I think that the person who's asked this question
• 43:07
  Speaker 2: is absolutely right to not feel like that's the right
• 43:10
  Speaker 2: thing to do, and that your brothers maybe getting a
• 43:11
  Speaker 2: bit ahead of themselves. Like anytime I've ever done financial
• 43:16
  Speaker 2: advice for a client, especially a younger client, we don't
• 43:19
  Speaker 2: even talk about their parents, Like, yeah, never have I
• 43:22
  Speaker 2: written a financial plan that takes into consideration a potential
• 43:26
  Speaker 2: like inheritance.
• 43:27
  Speaker 4: Because I think most parents would want to put their
• 43:29
  Speaker 4: kids in the position where they can look after them.
• 43:31
  Speaker 4: I totally get what you were saying back about if
• 43:33
  Speaker 4: it was available and you were really struggling, like it
• 43:35
  Speaker 4: would as the child be so much perhaps more beneficial
• 43:39
  Speaker 4: to receive sooner than later. But also I think like
• 43:43
  Speaker 4: the parents, if that's within their means and they could
• 43:46
  Speaker 4: see that someone was struggling, I think they probably would
• 43:49
  Speaker 4: want to step in instinctively anyway, which is where I think,
• 43:52
  Speaker 4: you know, it's maybe the brother can have a conversation
• 43:54
  Speaker 4: in we don't know the semantics of oh my god,
• 43:57
  Speaker 4: maybe he can't pay your we don't all need yeah,
• 43:59
  Speaker 4: but we don't all need to go to our parents.
• 44:00
  Speaker 2: To ask for this.
• 44:01
  Speaker 5: No, no, no no.
• 44:03
  Speaker 2: And like I've seen situations where I've had a client
• 44:05
  Speaker 2: come to me and be like, oh my god, you know,
• 44:09
  Speaker 2: my mom has decided to gift all the kids, like
• 44:12
  Speaker 2: four kids and deposit amount like twenty thousand dollars each,
• 44:15
  Speaker 2: but she really doesn't have the financial means to do that.
• 44:19
  Speaker 2: She's got it in the bank, but like it's going
• 44:21
  Speaker 2: to stretch her, Like we absolutely shouldn't be doing this
• 44:23
  Speaker 2: with her. But my siblings are like they really want
• 44:26
  Speaker 2: to take it. Like my sister and I we think
• 44:28
  Speaker 2: that's bullshit, but the other two they want to take it.
• 44:31
  Speaker 2: So like in those situations, There's literally been times where
• 44:34
  Speaker 2: I have worked with clients to set up a separate
• 44:36
  Speaker 2: bank account for that money to be deposited into so
• 44:39
  Speaker 2: that like small amounts of savings, like returns can be
• 44:42
  Speaker 2: made and that money sitting there for when mum decides that,
• 44:46
  Speaker 2: oh that was a really bad idea, like I'm in
• 44:48
  Speaker 2: financial stress, and the other two can be like, right, well,
• 44:51
  Speaker 2: here's that money back. But they didn't want to not
• 44:54
  Speaker 2: take it, because otherwise the other siblings would have been like, oh,
• 44:57
  Speaker 2: well we'll have the rest yeah, which it's money.
• 45:00
  Speaker 5: Yeah, And it's very complicated, especially family, and.
• 45:03
  Speaker 2: Such a level of entitlement that makes me feel really gross.
• 45:06
  Speaker 5: What did everybody else say? Oh?
• 45:08
  Speaker 1: Girl?
• 45:09
  Speaker 2: So we asked a few questions. First, we said, do
• 45:11
  Speaker 2: you think asking for an inheritance early crosses a line?
• 45:14
  Speaker 2: Eighty seven percent of you said yep, it gives me
• 45:16
  Speaker 2: the ick, and thirteen percent said no, it's a fair discussion.
• 45:20
  Speaker 2: Next question was would you join your siblings push to
• 45:24
  Speaker 2: ask for an inheritance early? And ninety percent of you
• 45:27
  Speaker 2: said no, couldn't bring myself to do it, six percent
• 45:29
  Speaker 2: said in this economy, I would, and four percent said yes,
• 45:33
  Speaker 2: better to enjoy it. While they're here. We then obviously said,
• 45:37
  Speaker 2: give us your two cents. What do you reckon? First
• 45:39
  Speaker 2: person said, let the brother ask alone. If it's so
• 45:42
  Speaker 2: important to him, I agree. Next person said, my grandma's
• 45:45
  Speaker 2: actually one hundred and three still needs money to live.
• 45:48
  Speaker 2: Good aged care ain't cheap.
• 45:50
  Speaker 5: That's so true.
• 45:51
  Speaker 2: You just don't know.
• 45:52
  Speaker 4: Medical expenses at that age can come up suddenly and
• 45:55
  Speaker 4: be really high.
• 45:56
  Speaker 2: Exactly. Like, also, good aged care absolutely is cheap. But
• 46:00
  Speaker 2: if I have worked my entire life to create this
• 46:04
  Speaker 2: investment fund so that I can financially support myself, you
• 46:08
  Speaker 2: best believe I'm choosing the nice option at the end,
• 46:10
  Speaker 2: like I want to go to the beautiful retirement village
• 46:13
  Speaker 2: if I can afford it, Like, yeah, I really, hebe.
• 46:15
  Speaker 2: I'm spending your inheritance if I can, Like, I'm so sorry.
• 46:19
  Speaker 2: Like whenever my parents plan a holiday, they always joke
• 46:21
  Speaker 2: They're like, haha, we're off to spend your inheritance, and
• 46:23
  Speaker 2: I'm like, yeah, get it. Queens, enjoy it. You should
• 46:26
  Speaker 2: be enjoying retirement like you should be enjoying your life.
• 46:30
  Speaker 2: Next person said, they're downsizing and adding the excess to
• 46:34
  Speaker 2: super so that they can live, which is so true.
• 46:38
  Speaker 2: Lots of people don't just downsize because they're like, oh,
• 46:40
  Speaker 2: the house is too big. They downsize to get some
• 46:44
  Speaker 2: cash out so that they can put it into their
• 46:46
  Speaker 2: investments so that they're able to live. It's a very
• 46:49
  Speaker 2: valid investment strategy. Like, you don't know why they're downsizing. Yes,
• 46:54
  Speaker 2: the house could feel cold and empty and massive, but
• 46:57
  Speaker 2: it also could have been all of their life going
• 47:00
  Speaker 2: into the house and now they need to sell it
• 47:02
  Speaker 2: to be able to retire.
• 47:03
  Speaker 7: Ah.
• 47:04
  Speaker 2: Someone said, my dad passed away, mum gave us inheritance
• 47:07
  Speaker 2: after selling the house. She's now put herself in a
• 47:10
  Speaker 2: shit situation. Oh really, which is so nice that she
• 47:14
  Speaker 2: wanted to help you. But that's what good financial planning
• 47:17
  Speaker 2: is about. Just because you have the cash there doesn't
• 47:20
  Speaker 2: mean it's for that.
• 47:21
  Speaker 6: Yeah.
• 47:22
  Speaker 2: Next person said he's going about it the wrong way.
• 47:24
  Speaker 2: Why not politely ask them for financial help, which you
• 47:28
  Speaker 2: know you guys came up with before. Next person said,
• 47:31
  Speaker 2: my husband's aunt did this for her three daughters. It
• 47:34
  Speaker 2: helped mortgages, private school fees, etc. That's great, but can
• 47:39
  Speaker 2: I assume that it was your husband's aunt who made
• 47:41
  Speaker 2: the choice to have that conversation and sit them down
• 47:44
  Speaker 2: and be like, hey, Harvey, we are sitting on a
• 47:47
  Speaker 2: number of dollars and we would love to be able
• 47:49
  Speaker 2: to help you, to put you in a best possible position.
• 47:52
  Speaker 2: Next person, and I've just got two more for you,
• 47:54
  Speaker 2: said her brother is stepping over the line. If he's struggling,
• 47:57
  Speaker 2: then he should be asking for help, not an inheritance.
• 48:00
  Speaker 2: And the last person said, what about their goals, their hopes,
• 48:03
  Speaker 2: and their dreams outside of you? Are you even having
• 48:05
  Speaker 2: that conversation? Do you even know what your parents want? Yeah?
• 48:09
  Speaker 5: Totally, that's such a good take.
• 48:11
  Speaker 2: Yeah, I just TLDR. I feel like that gives me
• 48:16
  Speaker 2: the ick because it's just like laced with entitlement to me. Yes,
• 48:20
  Speaker 2: you're not entitled to anybody's retirements. No, absolutely not, and
• 48:24
  Speaker 2: if they extend that to you, fantastic. But I also
• 48:28
  Speaker 2: think if you're listening to this podcast, I'm assuming you're
• 48:30
  Speaker 2: relatively financially literate, or you're getting there, or you're on
• 48:33
  Speaker 2: the journey, like it is actually a responsibility to make
• 48:37
  Speaker 2: sure that your family is And this is just from
• 48:39
  Speaker 2: my perspective, your family is financially okay. And I mean
• 48:43
  Speaker 2: if my parents turned around and said Victoria would love
• 48:45
  Speaker 2: to x y Z. I think one of my first
• 48:48
  Speaker 2: questions would be, like, well, what impact does that have
• 48:50
  Speaker 2: on you? Like fantastic, that's so cool? Like oh my god,
• 48:53
  Speaker 2: of course, like maybe, but like what does your retirement
• 48:57
  Speaker 2: look like? Then? What does your bank account look like? There?
• 49:00
  Speaker 2: And do you still have a mortgage? You still have this?
• 49:01
  Speaker 2: Like do you know what I mean? I want to
• 49:02
  Speaker 2: ask a million questions, and I think that the more
• 49:05
  Speaker 2: financially literate we are, the more we can support our community,
• 49:08
  Speaker 2: the more we can support our family and our friends.
• 49:10
  Speaker 2: And those are valid questions because even though you'd be
• 49:13
  Speaker 2: in a better position, not asking those questions is basically
• 49:16
  Speaker 2: taking advantage of the situation. Gorgeous words. It's a bit,
• 49:21
  Speaker 2: isn't it. Yeah, I see what you're saying.
• 49:23
  Speaker 6: Yeah, I do see what you're saying now, yes.
• 49:26
  Speaker 2: Yeah, Anyway, it has been good. I have loved this chat.
• 49:30
  Speaker 2: Thanks for joining us for another Friday drinks guys, and
• 49:32
  Speaker 2: we'll see you bright early on Monday for a Money
• 49:34
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