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FRIDAY DRINKS: Have you watched the TinderSwindler?! · She's On The Money

0:00
Speaker 1: She's on the Money. She's on the Money.
0:23
Speaker 2: Hello, and welcome to She's on the Money, the podcast
0:26
Speaker 2: for millennials who want financial freedom. Today, Friends is Friday,
0:31
Speaker 2: which means it is time to sit back with George,
0:33
Speaker 2: Jess and I with a drink in hand, perhaps to
0:36
Speaker 2: unpack our favorite moments of the week, and of course,
0:39
Speaker 2: to celebrate you the incredible She's on the Money community.
0:43
Speaker 2: As always, we are going to be sharing our favorite
0:45
Speaker 2: money wins. We are going to be discussing what's making
0:48
Speaker 2: juicy news in the finance world, and we're going to
0:51
Speaker 2: be helping answer a money question today, which this week
0:54
Speaker 2: is all about insurances and potential exclusions. But before we
0:58
Speaker 2: get there, it is time to recap the week that was.
1:01
Speaker 2: Mister Sagarici talked to us about what happened on Monday's
1:05
Speaker 2: Money Diary this week.
1:06
Speaker 3: Monday's Money Diarist took us through a little bit of
1:09
Speaker 3: a journey. She had very sadly lost her father a
1:12
Speaker 3: few years ago and unfortunately found herself in the position
1:15
Speaker 3: where his will wasn't up to date, and her family
1:18
Speaker 3: dynamic had shifted a few times over the years through
1:21
Speaker 3: separations and divorces and kids from different families, which is
1:24
Speaker 3: really common.
1:25
Speaker 4: There's so many.
1:26
Speaker 3: Blended families out there nowadays. But something people maybe don't
1:29
Speaker 3: think about is the need to update your will when
1:31
Speaker 3: that situation arises. And unfortunately she found herself in the
1:35
Speaker 3: position where her and her siblings and stepsiblings were kind
1:39
Speaker 3: of disputing what was in the will because it wasn't
1:42
Speaker 3: accurate at the time of his passing. It's just a
1:46
Speaker 3: really hard situation to find yourself in when you're already
1:49
Speaker 3: going through a traumatic experience. You're obviously devastated by the loss.
1:54
Speaker 3: She said, it came as a surprise, which is really
1:56
Speaker 3: hard in and of itself, and then on top of that,
1:59
Speaker 3: you have arguments essentially with your family. They went through lawyers,
2:03
Speaker 3: there were huge fees. It was just a really messy process.
2:06
Speaker 3: So she explained to us a little bit about how
2:09
Speaker 3: that went down, and it was a really really great
2:11
Speaker 3: minder I think to make sure your will is in order.
2:15
Speaker 3: We've done a whole episode. If you want to know
2:17
Speaker 3: the how and the why, you might think you're too
2:19
Speaker 3: young spoiler alert, you're probably not get that will sorted
2:22
Speaker 3: because it's not just you, it's all the people that
2:24
Speaker 3: you love as well that are impacted if it's.
2:27
Speaker 2: Not yeah, and our money. Doris said something that I
2:30
Speaker 2: found really powerful and that you don't do a will
2:33
Speaker 2: for yourself. She said, you do a will for your family.
2:36
Speaker 2: Like obviously there's quite I guess a self centeredness to
2:39
Speaker 2: a will because it's my stuff that I'm allocating out,
2:43
Speaker 2: so therefore it is very about me. But in reality,
2:46
Speaker 2: if you pass away, it's actually about your family not
2:49
Speaker 2: having to go through the admin of going through the
2:52
Speaker 2: courts to do dispute will or even establish a claim.
2:55
Speaker 2: And this money, darist it wasn't just like twelve months,
2:59
Speaker 2: which we usually see that process taking. It was upwards
3:02
Speaker 2: of three years, and that's a long time to be
3:05
Speaker 2: going through a process while you're also grieving like that.
3:09
Speaker 2: It's just not something I would want to put my
3:11
Speaker 2: family through. So if you haven't thought about getting a will,
3:14
Speaker 2: I definitely would recommend it, and I promise it will
3:16
Speaker 2: give you a whole heap of peace of mind. Moving
3:19
Speaker 2: on from talking about wills in estate planning, which I
3:21
Speaker 2: could honestly talk about for ages like if you let me,
3:25
Speaker 2: which in the office sometimes you guys do appreciate it.
3:28
Speaker 2: But Georgia King, what happened on this week's Wednesday episode,
3:33
Speaker 2: Hello Ladies.
3:34
Speaker 4: This Wednesday, we spoke about the sharing economy and it
3:39
Speaker 4: got philosophical, didn't it be?
3:41
Speaker 3: It did?
3:42
Speaker 2: It got a bit sappy, like we just took it
3:44
Speaker 2: off road for a little bit. We did have to
3:46
Speaker 2: get back on track, we did. I feel sorry for
3:48
Speaker 2: our producer this week.
3:50
Speaker 4: Yeah, look it was. It wasn't the easiest record, but hey,
3:54
Speaker 4: it was super interesting. And for anyone who has no
3:57
Speaker 4: idea what the sharing economy is.
3:58
Speaker 2: That is okay because we did whole episode so you
4:01
Speaker 2: can listen.
4:02
Speaker 4: Right, But in some really quickly, it's basically the model
4:06
Speaker 4: where individuals share goods and services that are facilitated by
4:10
Speaker 4: some kind of platform or app. So really common examples
4:13
Speaker 4: would be like Uber or Airbnb, and even like trading
4:18
Speaker 4: a rental kind of platform, so like release it for example.
4:22
Speaker 2: So yeah, it was really.
4:23
Speaker 4: Interesting talking through kind of the pros and cons of
4:26
Speaker 4: the sharing economy. The pros being that it's like really
4:29
Speaker 4: good for the environment, but then the negatives things like gentrification.
4:34
Speaker 4: What else will the negatives be?
4:35
Speaker 2: Oh, there were so many listen to the episode. Honestly,
4:39
Speaker 2: I feel like there were lots of negatives, but lots
4:41
Speaker 2: of positives, and I feel like the sharing economy has
4:45
Speaker 2: come so far like it used to be. I don't know,
4:48
Speaker 2: a little bit hippie, a little bit left field. People
4:51
Speaker 2: would be like, oh, that's a bit weird. Like, as
4:53
Speaker 2: I said on the podcast George, when dress rentals became
4:57
Speaker 2: a really big thing online, I think that they really
4:59
Speaker 2: redefined what that looked like. Because you remember when dress
5:02
Speaker 2: rentals used to just be the like Ferrari down the
5:05
Speaker 2: street where you could get like some bridesmaids dresses or
5:07
Speaker 2: rented tucks that probably smell like ciggies like that used
5:10
Speaker 2: to be your dress rentols. And now you've got these
5:13
Speaker 2: gorgeous companies like glam Corner that you just go wow,
5:16
Speaker 2: like that that definitely is for me. But you know,
5:20
Speaker 2: maybe the bridesmaid's dresses and the Sigi tucks are probably
5:23
Speaker 2: not my vibe. You know.
5:26
Speaker 3: It's also really funny to think about trying to explain
5:29
Speaker 3: that concept to me as like a five year old
5:32
Speaker 3: child or my parents, you know, in the really early nineties,
5:34
Speaker 3: when the Internet was not what it is today. Imagine
5:38
Speaker 3: saying to someone, hey, you're going to get on a telephone.
5:42
Speaker 3: You're going to reach out to someone you've never met before,
5:45
Speaker 3: and you're going to get in their car and they're
5:47
Speaker 3: going to take you somewhere like.
5:49
Speaker 2: Ye, and you're going to trust them and it's totally okay.
5:52
Speaker 2: So what will happen is they'll just turn up at
5:54
Speaker 2: your house. They've got your address. Yeah, it's all good.
5:58
Speaker 2: Don't know where you're going.
5:59
Speaker 3: Stranger chang alarm bells are going off like crazy. So
6:02
Speaker 3: it's just wild to think about how far that has come,
6:05
Speaker 3: I guess over the course of not even fifteen years.
6:09
Speaker 2: And it's kind of crazy to think about where we're
6:11
Speaker 2: going in the future as well when it comes to
6:13
Speaker 2: the Internet, Like we're now talking about like the metaverse
6:16
Speaker 2: and what the next version of the Internet looks like
6:19
Speaker 2: for us, And like I was even googling guys over
6:21
Speaker 2: the weekend, I read up on you know, the metaverse
6:24
Speaker 2: and people buying metaverse properties, and I wanted to understand
6:27
Speaker 2: that a little bit deeper because I was like, all right,
6:29
Speaker 2: tell me the crux of this, because there are people
6:32
Speaker 2: people in our community, guys who are buying properties or
6:36
Speaker 2: blocks of land in the metaverse for their kids as investments,
6:39
Speaker 2: and I just go, Nah, sure that doesn't exist. Surely no,
6:44
Speaker 2: but like it kind of makes sense the more you
6:47
Speaker 2: read into it and the more online our lives are,
6:50
Speaker 2: and the more you go, all right, well, I guess
6:52
Speaker 2: you know in two thousand and eight, how much of
6:54
Speaker 2: your life existed on the internet, and it's kind of
6:57
Speaker 2: like nothing. But now it's two and my entire business
7:03
Speaker 2: is on the internet. Everything that we do is on
7:05
Speaker 2: the internet. You guys are employed via the Internet. Like
7:08
Speaker 2: it is crazy to think, how like essentral in our
7:11
Speaker 2: lives this has become. So it makes sense that it
7:13
Speaker 2: would become a bigger thing. So anyway, turns out you
7:17
Speaker 2: can buy pent houses, and I reckon, we should buy
7:21
Speaker 2: a metaverse. She's on the money, HQ. Well, just not
7:26
Speaker 2: be sick.
7:26
Speaker 4: I don't get it. Is this like you put on
7:28
Speaker 4: goggles and then you're in.
7:30
Speaker 2: Yeah, you could come to my house, but on the internet.
7:38
Speaker 4: I hate you.
7:38
Speaker 2: Wait you wait, I'm gonna buy my metaverse apartment. It's
7:42
Speaker 2: going to be the pent house one and one day
7:44
Speaker 2: when I sell it for five million dollars, you guys
7:46
Speaker 2: are gonna wish you didn't laugh with me. No financial advice, Yeah,
7:51
Speaker 2: not definitely not because I still don't fully comprehend anything
7:55
Speaker 2: that's going on, nor do I even know how to
7:57
Speaker 2: transact like I've just googled metaverse apartments. Thank you, thank you,
8:04
Speaker 2: But let's move on before I sound like I'm pushing
8:06
Speaker 2: crypto Georgia king. What have you got from the Facebook
8:10
Speaker 2: community this week?
8:11
Speaker 4: Some absolutely gorgeous wins as usual, girls, So let us
8:16
Speaker 4: rip into it. Let me just pull it up. Okay,
8:19
Speaker 4: So our first win for the week is from Ali
8:21
Speaker 4: money Win. I was able to do the bulk of
8:24
Speaker 4: my month's grocery shopping at Aldi for a total of
8:26
Speaker 4: one hundred and forty dollars. One hundred and forty dollars
8:29
Speaker 4: for a whole month. That's insane anyway. While she was there,
8:32
Speaker 4: she scored collapsible dog steps for her sweet twelve year
8:36
Speaker 4: old cheap who on sale for ten dollars two weeks ago.
8:41
Speaker 4: That sweet cheep who pulled a muscle jumping onto the couch.
8:44
Speaker 4: So she was on the lookout for steps like these,
8:46
Speaker 4: and Aldi delivered, as they so often do. Have you
8:49
Speaker 4: guys got steps for your little animals? Dog steps?
8:53
Speaker 5: No?
8:54
Speaker 2: I would. I have a friend who has a sausage
8:57
Speaker 2: dog who has a ramp on their carrot less, so like,
9:00
Speaker 2: that's very cute.
9:01
Speaker 4: Can they jump in anyway?
9:02
Speaker 5: Can they?
9:03
Speaker 3: Like?
9:04
Speaker 2: I think they can, but they shouldn't because it's bad
9:06
Speaker 2: for their little backs. So he's got his name's Frankie,
9:10
Speaker 2: and he like trots Uppy's little ramp and onto the
9:12
Speaker 2: couch and places himself, And then when he wants to
9:15
Speaker 2: get off the couch, he like walks down to the
9:17
Speaker 2: ramp and goes down. He's like, I'm ready, I'm tough,
9:21
Speaker 2: frank you. The same house has baby gates across the
9:24
Speaker 2: stairs because Frankie is not allowed to go down the
9:26
Speaker 2: stairs on.
9:26
Speaker 4: He's own so much to think about when it comes
9:29
Speaker 4: to the strokes. The next one here is from Alex So.
9:32
Speaker 4: She wrote money when I negotiated my salary as I
9:35
Speaker 4: was being headhunted, but I didn't want to leave my employer.
9:38
Speaker 4: My first pay at my new higher rate hit my
9:40
Speaker 4: account today, and I'm taking home an additional one thousand
9:43
Speaker 4: dollars a month, so I'll have my car paid off
9:45
Speaker 4: in eighteen months instead of almost three years.
9:48
Speaker 2: My god, that's literally cutting it in half. How good.
9:52
Speaker 4: We love headhunters. Thank you, well done, Alex.
9:55
Speaker 2: No, that's not what we like Georgia. You miss the point.
9:58
Speaker 2: We love negotia ourselves, not a head hump kids. We
10:04
Speaker 2: love negotiating and knowing our works exactly.
10:08
Speaker 4: Well done, Vee, you wrapped it up. That's what you said,
10:10
Speaker 4: That's what you said. What I said, Okay. Next one
10:13
Speaker 4: is from Kiana. She bit the bullet and paid off
10:15
Speaker 4: her Zip pay in one go was nine hundred dollars
10:18
Speaker 4: and she's her account. I've always had money owing on
10:22
Speaker 4: zip page, she wrote, since twenty seventeen, so I'm pretty
10:25
Speaker 4: damn proud of myself.
10:26
Speaker 2: Oh my god, should be Yeah, you would feel like
10:29
Speaker 2: a massive weight had lifted off your shoulders. I just
10:32
Speaker 2: feel like people don't realize the emotional toll of carrying debt,
10:38
Speaker 2: Like it can be heavy and you might not feel it.
10:40
Speaker 2: You might be like it doesn't make sense. But I
10:42
Speaker 2: promise the second you paid all off, you're like, oh,
10:44
Speaker 2: I didn't even realize I was carrying that way. It's
10:47
Speaker 2: so good.
10:48
Speaker 4: Could not agree more. V. The next win comes from Amber.
10:53
Speaker 4: This is a long one to strap yourselves in. I'm
10:55
Speaker 4: a big sewer who likes to use good quality fabric.
10:58
Speaker 4: Last week I went to a local lop shop to
11:00
Speaker 4: donate a couple of boxes of old stuff, and while
11:02
Speaker 4: I was there, I noticed there were a few bolts
11:04
Speaker 4: of what looked like cotton fabric. I asked the worker
11:07
Speaker 4: if they were donations, hoping to find out roughly when
11:09
Speaker 4: they would be on the floor. They said yes and
11:12
Speaker 4: asked if I was interested. So when I said yes,
11:14
Speaker 4: they offered me a whole bolt for free. Now, a bolt,
11:18
Speaker 4: I think is like the it's like a ream of material.
11:22
Speaker 4: Do you guys know what it is. I'm not a sewer.
11:24
Speaker 2: It's like the big.
11:24
Speaker 3: Card board thing that it's Yeah, I'm pretty sure.
11:27
Speaker 2: Oh, okay, that's a lot like that's that's like not
11:30
Speaker 2: going and getting a clipping. It's like the whole damn thing.
11:33
Speaker 4: It's the whole damn thing. She said, there's fifteen meters
11:36
Speaker 4: on this bolt, and she's estimated that would be thirty
11:38
Speaker 4: dollars a meter. So she got four fifty dollars worth
11:42
Speaker 4: of fabric completely free.
11:44
Speaker 2: Wow, the best bit.
11:45
Speaker 4: I'm starting up a business sewing bits and pieces, and
11:47
Speaker 4: this fabric will be perfect for it.
11:50
Speaker 2: Blessed Oh I love that.
11:51
Speaker 4: The next win is from Moira. I had to service
11:54
Speaker 4: my car and change the back breaks and discs I
11:57
Speaker 4: had the money saved all throughout the year and didn't
11:59
Speaker 4: have to for into my savings. And the final win
12:03
Speaker 4: for today Ladies is from Lakeisha. My brother moved into state,
12:08
Speaker 4: so I bought his fairly new sixty five inch TV
12:10
Speaker 4: off him for four hundred and fifty dollars. Seems pricey,
12:13
Speaker 4: but that's okay. And he gave me his air fryer
12:16
Speaker 4: for free. Hashtag winner.
12:18
Speaker 2: That's a money win.
12:19
Speaker 3: You're gonna love it. I'm just gonna say you're gonna love.
12:21
Speaker 2: It air fryers. Do you know what else you love?
12:24
Speaker 4: Jess?
12:25
Speaker 2: Air wraps if it starts with air juice is probably
12:28
Speaker 2: all over it really niche taste. It's niche taste. But
12:33
Speaker 2: you know what, Actually, I'm going to share my sister's
12:35
Speaker 2: money win. Alexandra de Vine her money when this week
12:38
Speaker 2: or this month was actually stealing her sister Victoria's air wraps,
12:42
Speaker 2: so that was good for her.
12:44
Speaker 4: Is that why you have that roller in your hair
12:45
Speaker 4: and look like Elvis Nite?
12:47
Speaker 2: Yeah? I've been trying to deal without it.
12:51
Speaker 3: All right.
12:52
Speaker 2: We are back with arguably the most exciting and juicy
12:56
Speaker 2: segment we have ever done, and that's mainly because I
13:00
Speaker 2: watched it on TV the other day, and I am
13:03
Speaker 2: now in absolute shock, Georgia King that Jessica hasn't seen it.
13:07
Speaker 2: Like it's the only thing on TikTok, It's the only
13:10
Speaker 2: thing on Instagram at the moment. I cannot believe, jess
13:13
Speaker 2: you haven't watched this yet, George. We're talking about the
13:16
Speaker 2: Tinder Swindler.
13:17
Speaker 4: The Tinder Swindler.
13:19
Speaker 2: Oh, the juiciest of stories, George. For those of you
13:22
Speaker 2: who haven't watched, who obviously live under a rock, what
13:26
Speaker 2: are we missing?
13:27
Speaker 4: Okay? So essentially it's an old fashioned catfishing story. However,
13:33
Speaker 4: the twist is that this man his name is, or
13:37
Speaker 4: at least he claims it is, Simon Levyev Is that right? V?
13:42
Speaker 2: Have I got that right?
13:43
Speaker 4: Simon? I think it was something like or something like that, anyway,
13:48
Speaker 4: so let's not look into it too now.
13:50
Speaker 2: I think his name was Simon or something like. I
13:52
Speaker 2: think that was his real.
13:53
Speaker 4: Name, him On Hays. I think anyway, he basically conned
13:59
Speaker 4: three stunning and smart women into transferring him hundreds of
14:05
Speaker 4: thousands of dollars in the end. Sorry spoilers alert, we
14:08
Speaker 4: should have said that maybe a little earlier. Spoiler of it, yeah, massive,
14:13
Speaker 4: right alert. So basically he swindles them out of all
14:18
Speaker 4: of this money. He meets them on Tinder, hence the
14:20
Speaker 4: Tinder swindler name. But it was really interesting to see
14:23
Speaker 4: how he convinced these women that he was he was.
14:27
Speaker 4: He basically convinced them that he was a diamond Magnet's son,
14:32
Speaker 4: made them all believe he was really rich and had
14:34
Speaker 4: these really scary enemies who wanted to kill him. So
14:38
Speaker 4: he then asked them to transfer money.
14:40
Speaker 2: Rah rah rah.
14:41
Speaker 4: Does anyone want to see it?
14:42
Speaker 5: Now?
14:42
Speaker 4: I feel like I've ruined it.
14:43
Speaker 2: Oh my gosh, you've ruined it. But it's wild to
14:46
Speaker 2: think that people believe this stuff. Yes, like, oh, the
14:49
Speaker 2: amount of red flags that were flying for me. And
14:52
Speaker 2: this is probably very well timed given it is or
14:55
Speaker 2: has been the week of Valentine's Day. Valentine's Day was
14:58
Speaker 2: on Monday, and the Tinder do You Reckon? They timed
15:01
Speaker 2: that do you Reckon? They're trying to talk about it
15:03
Speaker 2: during Valentine's Day.
15:05
Speaker 4: It makes sense I should have launched it on Valentine's Day.
15:08
Speaker 4: That was a missed opportunity. That's still talking about it.
15:12
Speaker 2: But it is wild and I feel like there are
15:15
Speaker 2: so many lessons we can learn from it about dating,
15:18
Speaker 2: but also about money and fraud. And is it okay
15:21
Speaker 2: if people ask you to take out personal loans in
15:24
Speaker 2: your name? Jess? Is it all right? I'm going to
15:28
Speaker 2: haven't watched the show.
15:29
Speaker 3: I haven't, but going off my intuition, I'm going to
15:32
Speaker 3: say no.
15:33
Speaker 2: No, it's not so. I think that we did learn
15:35
Speaker 2: a few really important lessons from the Tinder swindler. And
15:39
Speaker 2: you know, as somebody who met their partner on Tinder
15:42
Speaker 2: and I watched this with Steve, I was like, oh, guys,
15:45
Speaker 2: this is pretty wild, like the idea that this guy
15:50
Speaker 2: swindled women out of money and obviously was doing that
15:53
Speaker 2: to a greater extent. We only know about these three
15:56
Speaker 2: women because they've come forward and wanted to be in
15:58
Speaker 2: a documentary Like that was me. I'm not gonna lie
16:02
Speaker 2: even if you've swindled me out of hundreds of thousands
16:04
Speaker 2: of dollars. I don't know if I would want to
16:06
Speaker 2: go on a documentary to talk about it, like I
16:08
Speaker 2: just I'd feel too uncomfortable.
16:10
Speaker 3: I feel like it really goes back to what we
16:11
Speaker 3: were talking about earlier in the show around the internet
16:14
Speaker 3: and how we interact with things evolving. Because again, once
16:17
Speaker 3: upon a time, I think it was a little bit
16:18
Speaker 3: easier to spot. You know, Nigerian prince has emailed your
16:22
Speaker 3: grandma saying he wants to marry her if she will
16:24
Speaker 3: just send him some money. It's a pretty glaringly obvious scam,
16:28
Speaker 3: whereas nowadays, people like old Mate Simon are preying on
16:33
Speaker 3: vulnerable women and I'm sure men as well, getting in
16:36
Speaker 3: on their insecurities and having a little bit of insight
16:39
Speaker 3: into them as a person already, because your dating profile
16:42
Speaker 3: is like a prepackaged show real really, isn't it?
16:45
Speaker 2: Like here I am, this is.
16:46
Speaker 3: What I like. They kind of have all of the
16:48
Speaker 3: information they need to begin to establish that kind of relationship.
16:52
Speaker 3: I feel like it's a bit of an easy in
16:54
Speaker 3: for some nefarious activities.
16:57
Speaker 2: I feel like, for me, there are a whole heap
16:59
Speaker 2: of like souper red flags in the show. Right, So
17:02
Speaker 2: it wasn't just that he asked for money, but there
17:06
Speaker 2: were these like super narcissistic traits like this person love
17:11
Speaker 2: bombed them really early, which is where they say I
17:13
Speaker 2: love you really early and like shower you with gifts
17:16
Speaker 2: and stuff too early, Because it's like, you don't know
17:19
Speaker 2: this person from a bar of soap, and like, obviously
17:22
Speaker 2: the biggest red flag is that he was asking for
17:24
Speaker 2: money for something that was a little bit left field.
17:27
Speaker 2: But I can also somewhat sympathize with the women because
17:30
Speaker 2: unlike catfishing, like they met the person, like they could
17:34
Speaker 2: see him, they could touch him, They could, you know,
17:37
Speaker 2: see the wealth around him. I mean, he wore a
17:39
Speaker 2: Rolex and he drove fancy cars, and most of the
17:43
Speaker 2: women would meet him in luxury hotels as their first date.
17:46
Speaker 2: And the first woman that we were introduced to in
17:48
Speaker 2: the Tinder Swindler, she met him for coffee and then
17:51
Speaker 2: he invited her overseas on his private jet, like I
17:56
Speaker 2: would believe that he was wealthy as well, Like I
17:58
Speaker 2: wouldn't go, oh, this is all scam, because you don't
18:01
Speaker 2: just have a private jet on standby to woo women,
18:05
Speaker 2: do you.
18:06
Speaker 3: It sounds a lot like I don't know, and I
18:08
Speaker 3: think is another one that's on Netflix. But I followed
18:11
Speaker 3: the story when it was in the news a few
18:12
Speaker 3: years ago. Ammadelvi, have you guys read about that? Yes, yeah,
18:17
Speaker 3: so anyone who hasn't. I think it's impersonating Anna is
18:20
Speaker 3: the documentary that's coming.
18:21
Speaker 2: Out is a really really interesting story.
18:25
Speaker 3: I haven't watched that one either, but I followed along,
18:27
Speaker 3: like I said, the news a while back, and the
18:30
Speaker 3: crux of it was that she also manipulated people into
18:34
Speaker 3: paying for massive, massive, massive debts of hers at hotels
18:38
Speaker 3: and restaurants, and she infiltrated the New York Upper east
18:42
Speaker 3: Side lifestyle with no money, and she just left a
18:47
Speaker 3: trail of debt behind her and people who were stuck
18:49
Speaker 3: in these holes that they had to get themselves out of.
18:52
Speaker 3: But it seems to be is that a bit of
18:54
Speaker 3: a red flag? But because she did something very similar?
18:56
Speaker 2: When is she a red flag?
18:59
Speaker 3: She did something really similar where she would spend, you know,
19:03
Speaker 3: pick up the bill, they go to a really extensive
19:05
Speaker 3: dinner and she'd be like no, no, no, like I've got it,
19:07
Speaker 3: or she'd be like, oh, come overseas with me. I'll
19:10
Speaker 3: pay for the hotel. She dropped a lot of money,
19:13
Speaker 3: which sounds very similar to what this guy did to
19:16
Speaker 3: kind of establish early on that she was rich. And
19:19
Speaker 3: then of course her friends who were also rich, like
19:22
Speaker 3: oh well, I'll get the next one, and I mean
19:25
Speaker 3: nice lifestyle. Can't say I'm shouting any of my friend's
19:27
Speaker 3: trips overseas, but it kind of puts you in that
19:30
Speaker 3: mind frame of oh, like this is how they live.
19:32
Speaker 3: And then when someone like Simon comes along and goes,
19:35
Speaker 3: oh I need help, they go, oh, my goodness, Like
19:38
Speaker 3: he has his own money, so it must be really bad.
19:42
Speaker 2: Yeah. I am very confused about it, not because I
19:45
Speaker 2: don't understand the scam, which I can, as you were
19:47
Speaker 2: talking about jess Anna, she pretended to be a wealthy
19:50
Speaker 2: German Hairess, right, Yeah, Like how do you just wake
19:54
Speaker 2: up and decide to be that person? Like from my understanding,
19:58
Speaker 2: that would take a lot of money to begin with,
20:00
Speaker 2: Like how did they initially get that cash? I feel
20:03
Speaker 2: like there's so much for me missing for the story.
20:06
Speaker 2: And the one thing that for me was missing from
20:09
Speaker 2: the Tinder Swindler was how did he start? Like he
20:12
Speaker 2: didn't grow up wealthy, so how did he then acquire
20:16
Speaker 2: all of these really expensive things and manage to get
20:19
Speaker 2: this high up? Like how do you pretend to be
20:22
Speaker 2: the son of a diamond magnet? Like how does that happen?
20:26
Speaker 2: Where are the stepping stones? Not because I want to
20:28
Speaker 2: copy them, but because genuinely I can't comprehend that, Like,
20:32
Speaker 2: what if I decided tomorrow to just wake up and
20:34
Speaker 2: I would like to be an heiress, that would be good.
20:37
Speaker 2: How do you do that?
20:39
Speaker 4: I think you have to be a psychopath? Yeah, because
20:41
Speaker 4: didn't he he like there was something in high school
20:45
Speaker 4: that he'd committed fraud or something like that. Like, is
20:48
Speaker 4: it a bad egg? If that's not already obvious? So
20:51
Speaker 4: I feel like this kind of behavior is surely just
20:53
Speaker 4: ingrained in who you are as a person.
20:55
Speaker 2: That's a narcissis Yeah, they absolutely would be. But it
21:00
Speaker 2: just it's crazy how these things start. Like we spoke
21:04
Speaker 2: a couple of weeks ago, I think, just before Christmas
21:07
Speaker 2: about Elizabeth Holmes and how that worked and what was
21:11
Speaker 2: going on there, And I just I can't believe that
21:14
Speaker 2: these people can climb so high with nobody questioning.
21:18
Speaker 4: Them, like what and no fear, Like how how do
21:22
Speaker 4: you keep on doing that and just keep on ruining
21:24
Speaker 4: people's lives and then pushing on to the next person.
21:26
Speaker 2: It's so horrible and terrible.
21:29
Speaker 4: Sure you're scared, but they it must just be a
21:32
Speaker 4: symptom of psychopathy. That's George's diagnosed.
21:36
Speaker 3: Sounds a bit like a human Ponzi scheme. If you
21:38
Speaker 3: ask al, I just go from the next to the next.
21:42
Speaker 3: That's how you keep it up. But I guess to
21:44
Speaker 3: bring it right back around to finance the what kind
21:47
Speaker 3: of steps or what kind of things should we be
21:49
Speaker 3: looking out for if we are in the dating game,
21:51
Speaker 3: if we're getting on Tinder having a little swipe, what
21:54
Speaker 3: can women do to protect themselves to make sure they
21:57
Speaker 3: don't find themselves in a similar position.
22:00
Speaker 2: Even Valentine's Days this week, I think lots of people
22:02
Speaker 2: are thinking about dating. And the one thing that is
22:06
Speaker 2: really easy to dismiss that the start is red flags. Right,
22:09
Speaker 2: And I've said this before, but red flags are going
22:11
Speaker 2: to be different for everybody, right, Like Jess, you might
22:14
Speaker 2: be like, he breathed funny, so I ended the date
22:16
Speaker 2: and I went home early, and I'll be like, oh,
22:18
Speaker 2: I really liked the way he breathed on me. Like,
22:21
Speaker 2: everybody has their different things, and to me, that's not
22:24
Speaker 2: necessarily a red flag. That's a personal one for you.
22:27
Speaker 2: But I think that there's a few big ones that
22:29
Speaker 2: we need to be aware of, especially if you're single
22:32
Speaker 2: and going on dates. Asking for money is probably a
22:35
Speaker 2: really big red flag. If you're not in a relationship
22:38
Speaker 2: with that person. But then to further that, for me,
22:40
Speaker 2: it's a really big red flag even if you are,
22:43
Speaker 2: because it means that they aren't able to manage their
22:46
Speaker 2: own money. And we've seen in our shees on the
22:48
Speaker 2: Money community, we have done money diaries on people who
22:51
Speaker 2: have been in financially abusive relationships where one of our
22:54
Speaker 2: diarists they racked up massive amounts of personal debt because
22:57
Speaker 2: their partner made them take out loans, made them take
23:00
Speaker 2: out a car loan because they couldn't afford it or
23:03
Speaker 2: weren't fully employed, and they promised to pay back, and
23:05
Speaker 2: then they broke up with them, but the car's in
23:07
Speaker 2: that guy's name and she now has the debt. It's
23:10
Speaker 2: absolutely crazy. So anything to do with money in relationships,
23:13
Speaker 2: I am really weary. And that's why it's also so
23:16
Speaker 2: important for you to be financially secure on your own
23:19
Speaker 2: because I'm not saying that. You know, if Steve's like,
23:21
Speaker 2: hey babe, I really need to borrow a hundred bucks
23:24
Speaker 2: to get to pay day, like, of course I will
23:26
Speaker 2: carry that. And that's a different conversation than can you
23:29
Speaker 2: please take on a car loan for me? Because I've
23:31
Speaker 2: got really bad credit, Like, oh, I don't care how
23:34
Speaker 2: in love with somebody you are, Like a car Loan
23:37
Speaker 2: is a definite no from me if it's not in
23:40
Speaker 2: their own name, like that's their responsibility. And I get that.
23:43
Speaker 2: There probably is a lot of nuance to this because
23:45
Speaker 2: somebody listening might be like, I'm sorry, Victoria, Like I
23:49
Speaker 2: got my partner's car Loan and it was fine. I
23:52
Speaker 2: trust him. I get that, but we need to just
23:54
Speaker 2: be extra weary. The second thing was where he was
23:59
Speaker 2: just like loving on them so hard, like I said before,
24:02
Speaker 2: love bombing, And it's where they like become obsessed with
24:05
Speaker 2: you really quickly and buy your fancy presence or they
24:09
Speaker 2: say love too quickly or do you know what I mean?
24:12
Speaker 2: Because they're doing one of two things here. They're either
24:15
Speaker 2: scamming you or they're obsessive. And that's kind of weird
24:18
Speaker 2: to begin with, Like we've got to be a little
24:19
Speaker 2: bit more reserved because if you've just met some random
24:22
Speaker 2: on Tinder, how were you in love with them after
24:24
Speaker 2: twenty four hours? Like how does that happen? And I
24:28
Speaker 2: know a lot of people are going to listen and
24:29
Speaker 2: be like but I knew, I get it. Same when
24:33
Speaker 2: I met Steve, same, but it did take a few
24:37
Speaker 2: months to settle it in and become comfortable with one another,
24:39
Speaker 2: and you know, understand their love languages and who they
24:42
Speaker 2: are as a person and just going on a date
24:44
Speaker 2: and understanding their career and what they're up to. Like
24:47
Speaker 2: that is not love, that's infatuation. And we need to
24:50
Speaker 2: understand the difference between those things. Because was I in
24:53
Speaker 2: love with Steve on our first date. Absolutely not, But
24:56
Speaker 2: I was bloody infatuated.
24:58
Speaker 4: And that's okay, I've found the whole Like when he
25:02
Speaker 4: was like sending them voice memos and facetiming them all
25:05
Speaker 4: the time, like it was to outsiders, it was super creepy.
25:09
Speaker 4: But when you're swept up in that, it was essentially
25:11
Speaker 4: like these little quasi relationships, So you would just be
25:14
Speaker 4: completely swept up in it. And especially who does a
25:17
Speaker 4: lot of billionaire you know what.
25:20
Speaker 2: A line I mean, I probably could easily get swept up.
25:23
Speaker 2: Like if you was my type, I definitely be like, okay,
25:26
Speaker 2: Like would I have said no to getting on a
25:28
Speaker 2: private jet with Steve after twenty four hours? No, I
25:32
Speaker 2: would have on the jet. I would have gone on
25:34
Speaker 2: the jet, Like it would have happened, But I think
25:37
Speaker 2: that we need to be really cautious of who we're
25:40
Speaker 2: meeting online. And I think that, you know, in twenty
25:43
Speaker 2: twenty two, it's becoming so much more prevalent that, yes,
25:46
Speaker 2: social media is our online highlights real, but it's also
25:50
Speaker 2: a way that we could create a persona or change
25:53
Speaker 2: who we want to be into somebody else. And I've
25:57
Speaker 2: been getting really swept up recently on TikTok and in
26:00
Speaker 2: Instagram looking at other people's profiles and being like, oh,
26:03
Speaker 2: I wish I was more like them, Like they highlight
26:05
Speaker 2: reels are really gorgeous, or they create beautiful content. Oh
26:09
Speaker 2: they're that girl, and there's this idea of becoming that
26:12
Speaker 2: girl on TikTok at the moment, and it's just like
26:15
Speaker 2: they're not. They're just good at content creating. And this
26:18
Speaker 2: guy was clearly good at it as well, in terms
26:21
Speaker 2: of creating content that made you believe this face and
26:25
Speaker 2: you didn't ever feel like you needed to fact check
26:27
Speaker 2: this guy. None of the people dating him googled him
26:30
Speaker 2: at the start of their relationships and tried to research him.
26:33
Speaker 2: And I don't think you should have to do that,
26:36
Speaker 2: but I think we do need to be super wary
26:38
Speaker 2: of not all that glitters is gold, especially when social
26:41
Speaker 2: media and building a perception is associated with that. Right,
26:46
Speaker 2: my creepy trick.
26:48
Speaker 3: And I obviously haven't dated for many, many years. But
26:51
Speaker 3: even if I just meant god, LinkedIn, get on LinkedIn.
26:56
Speaker 3: They if they tell you that they work somewhere, because not,
26:59
Speaker 3: again you can.
27:00
Speaker 2: Oh, that's way less creepy than mine.
27:02
Speaker 3: What were you gonna say?
27:03
Speaker 2: Oh, I was going to say, you screenshot their Tinder
27:06
Speaker 2: profile and the reverse Google image search to make sure
27:09
Speaker 2: that it's not a catfish profile.
27:11
Speaker 3: That is actually so much smarter. But yet do your
27:14
Speaker 3: fact checking one hundred percent. Also, I would add into
27:18
Speaker 3: this if you are in those early stages and maybe
27:21
Speaker 3: you're spending a lot of time together, or maybe you're
27:24
Speaker 3: you know, spending a few days a week living together
27:26
Speaker 3: or whatever that might look like, just be really cautious
27:29
Speaker 3: around protecting your personal information as well. I know that
27:32
Speaker 3: we can all be really.
27:33
Speaker 2: Trusting, right, Yeah, trusting is a really good word.
27:36
Speaker 3: And you know you'll give someone your phone password so
27:38
Speaker 3: they can open it and make a call or take
27:40
Speaker 3: you know, use your camera or whatever. I know that
27:42
Speaker 3: we're all good people, and we just want to see
27:44
Speaker 3: the best in other people. But I would encourage you
27:46
Speaker 3: to have an element of not paranoia, but just a
27:50
Speaker 3: little element of reservation with giving that information away. And
27:54
Speaker 3: you know it sounds really silly, We're all guilty of it.
27:57
Speaker 3: Make sure you use different passwords for different platforms. Don't
28:00
Speaker 3: have your phone kin and your bank pin be the same.
28:02
Speaker 3: Just little tiny things that can protect your financial wellness
28:07
Speaker 3: overall in the worst case scenario that you find yourself
28:11
Speaker 3: in a situation where someone is maybe not approaching you
28:14
Speaker 3: with the best of intentions.
28:16
Speaker 2: Yeah, and I think that self preservation is a really
28:19
Speaker 2: big part of dating as well. Like I feel like
28:22
Speaker 2: there are so many strong, independent single women in our
28:24
Speaker 2: community at the moment, and I speak to them every
28:27
Speaker 2: single day and I adore them. But something that I
28:30
Speaker 2: do notice, and do you know what this happened when
28:32
Speaker 2: I was dating as well, was you start to prioritize
28:36
Speaker 2: the relationship over your individual time. Like instead of going
28:40
Speaker 2: to plarties with your friend on the weekend and going
28:41
Speaker 2: out for brunch and you know, being quite social, that
28:43
Speaker 2: becomes quite I guess sheltered. And I think being really
28:47
Speaker 2: aware of the friends and family that are surrounding you,
28:50
Speaker 2: and if you're becoming really tunnel visioned in your priorities,
28:54
Speaker 2: maybe you need to have a think about why that
28:56
Speaker 2: would be. Because if you're putting your friends and your
28:59
Speaker 2: family on the back burner for someone you've just met,
29:02
Speaker 2: is that actually a good idea? Is that actually what
29:04
Speaker 2: life is about? I think there's a lot of conversation
29:07
Speaker 2: to be had around this, but I guess that for us,
29:09
Speaker 2: it's about that financial piece and being independent on your
29:12
Speaker 2: own and having an emergency fund and making sure that
29:15
Speaker 2: if somebody asks you to take a loan out on
29:17
Speaker 2: their behalf, we're not engaging in that. In fact, if
29:20
Speaker 2: somebody asks that question, I think the best way to
29:23
Speaker 2: actually help is like, hey, okay, no problems. Why how
29:28
Speaker 2: how do we get you out of this position? If
29:30
Speaker 2: they can't get alone, no problems, Let's find a way
29:34
Speaker 2: to get you out of that sticky situation. Do they
29:36
Speaker 2: owe money to somebody? Do they owe money on a
29:38
Speaker 2: credit card or a personal loan? Like you guys know,
29:41
Speaker 2: I am obsessed with our friends at the National Debt Hotline,
29:44
Speaker 2: Like call them, have a chat to them, even if
29:47
Speaker 2: you're just not sure you want to run it by
29:49
Speaker 2: somebody like pick up the phone, talk to a financial
29:51
Speaker 2: counselor and be like, hey, is this weird? Like I
29:53
Speaker 2: don't want to ask my friends about it, but I'm
29:56
Speaker 2: in dating this guy and you know, he has a
29:59
Speaker 2: car loan and he can't pay it because he's not
30:01
Speaker 2: employed at the moment. Like, and he's asked me if
30:03
Speaker 2: I can take a personal loan to pay it. Should
30:05
Speaker 2: I be doing that? In some situations? I feel like
30:08
Speaker 2: making that call is going to save you a whole
30:10
Speaker 2: lot of headaches down the track.
30:12
Speaker 3: Yeah, really great points. Okay, I'm going to go watch
30:14
Speaker 3: the tin BLUs Swindlen. Now you've all convinced me.
30:16
Speaker 2: Please honestly it is wild. Please watch Jess and report
30:20
Speaker 2: back like it's insane. And for anybody who's listened this far,
30:25
Speaker 2: when you heard that, I Google searched my Tinder dates.
30:28
Speaker 3: No you didn't. But speaking of calls, gee, do we
30:32
Speaker 3: have a listener question to get to?
30:34
Speaker 4: We certainly do. My girls stand by, let me whip it.
30:37
Speaker 5: Up, Hello, Vikitty, and then she's on the money. Girls. Firstly,
30:42
Speaker 5: I just want to say thank you for making such
30:44
Speaker 5: an amazing little potty. So since listening, I've been working
30:48
Speaker 5: on building up my financial security now that my partner
30:52
Speaker 5: and I have a mortgage together. So I've been going
30:54
Speaker 5: through the process of getting income protection and TPD cover
30:58
Speaker 5: on my super No it's super basic, but hey, baby
31:01
Speaker 5: steps to financial security. And so during this process, I've
31:05
Speaker 5: received a diagnosis for an autoimmune condition called ankilizing spondylitis.
31:10
Speaker 5: Side note, massive money win because that medication for this
31:14
Speaker 5: is government subsidized and I can focus my money where
31:17
Speaker 5: it will make a difference, So big win. But I
31:20
Speaker 5: did disclose this to my prospective insurer and they won't
31:24
Speaker 5: offer me income protection and TPD cover because of this condition.
31:29
Speaker 5: So I'm just a bit stumped on where to go
31:30
Speaker 5: from here. Since it's not really an uncommon condition and
31:33
Speaker 5: I'm sure there'd be other people in a similar boat.
31:36
Speaker 5: I wanted to ask an expert. Thank you so much
31:38
Speaker 5: and much love from Tasmania. Bye.
31:41
Speaker 2: Oh my gosh, this is such a good question, and
31:44
Speaker 2: you guys know how obsessed I am talking about income
31:47
Speaker 2: protection and trauma and TVD and literally all of those things.
31:50
Speaker 2: But first things first, I know that this person was
31:53
Speaker 2: not DJ Tiger Lily, but goddamn, she sounds exactly like Darah,
32:00
Speaker 2: so she actually does. She actually sounded so much like Dara.
32:04
Speaker 2: I was like, is this Dara? And then I was like, no,
32:06
Speaker 2: this story is not Dara. And I also know that
32:09
Speaker 2: she's got a financial advisor and would already have her
32:11
Speaker 2: insurance is sorted, so wouldn't be asking me that question.
32:13
Speaker 2: But if that wasn't a like a doppelganger for a voice,
32:17
Speaker 2: I don't know what was Dara. If you're listening, please confirm,
32:20
Speaker 2: but very good question. And I'm surprised at that process.
32:26
Speaker 2: So I'm going to make some assumptions here so that
32:28
Speaker 2: I can have, I guess, a holistic conversation about this,
32:31
Speaker 2: because I don't have enough pieces of the puzzle to
32:34
Speaker 2: be clear about this. And the first assumption I'm making
32:37
Speaker 2: is that you did this yourself. You didn't go and
32:40
Speaker 2: get a financial advisor to give you a recommendation, because
32:44
Speaker 2: if you had, that should have been taken into consideration,
32:47
Speaker 2: and conversations between your financial advisor and the underwriter at
32:51
Speaker 2: the insurer should have been had around whether you would
32:53
Speaker 2: get an acceptance or a decline, or whether they would
32:56
Speaker 2: allow you to have an exclusion. So an exclusion is
33:00
Speaker 2: policy condition on an insurance policy that actually stops you
33:04
Speaker 2: from getting payment if you want to claim if you're
33:06
Speaker 2: unable to work, if you have a particular thing happened
33:09
Speaker 2: to you. So Jess, I know that you have a
33:11
Speaker 2: bit of a bung knee. They might go, hey, Jess, like,
33:14
Speaker 2: if you've got any medical conditions, and you'd be like, oh, no,
33:16
Speaker 2: I don't, but actually I have one and it's my knee,
33:19
Speaker 2: like I always throw it out when I'm at frisbee.
33:21
Speaker 2: And they might go, oh, okay, no problems. But because that's
33:24
Speaker 2: a pre existing condition, if you have to claim on insurance, like,
33:29
Speaker 2: it doesn't seem fair to us to have to pay
33:31
Speaker 2: for something that probably was going to happen or that
33:34
Speaker 2: has already happened. So in that situation, you can kind
33:37
Speaker 2: of go, all right, well, she's already got abung knee.
33:40
Speaker 2: If she needs to take a few weeks off work,
33:41
Speaker 2: why is that the insurer's responsibility, Because you kind of
33:45
Speaker 2: know what's already going to happen, And an insurer's job
33:48
Speaker 2: is to make sure that they're managing risk. So they
33:51
Speaker 2: need to have a look at risk and go all right,
33:55
Speaker 2: using Jess as an example, and I don't even I
33:57
Speaker 2: don't think i've done your insurances. You do not have
33:59
Speaker 2: any explain So it's just a hypothetical. But if we
34:03
Speaker 2: look at Jess and go, all right, this is the circumstance,
34:06
Speaker 2: this is the situation, they're going to go, We're not
34:09
Speaker 2: going to take risk where we have to pay out
34:11
Speaker 2: like we want to make sure that we are paying
34:13
Speaker 2: out for things that we didn't see coming, whereas if
34:16
Speaker 2: we saw it coming, I'm not going to agree to that.
34:18
Speaker 2: So in this situation, what I'm assuming has happened is
34:21
Speaker 2: you've applied to an insurer after doing your own research
34:24
Speaker 2: and haven't actually looked into a lot of the other
34:27
Speaker 2: policies that might be a little bit more flexible on
34:29
Speaker 2: autoimmune conditions. Now I say this because I've recently gone
34:33
Speaker 2: through the underwriting process with a client who actually has
34:35
Speaker 2: loopus and that is another autoimmune condition. And there were
34:39
Speaker 2: a few insurers that blanket said no. They said no,
34:42
Speaker 2: we would not touch that person with a ten foot
34:45
Speaker 2: pole when it comes to autoimmune diseases, we just say no,
34:49
Speaker 2: whereas we had to do some more research with some
34:52
Speaker 2: other insurers and go would you accept it? Would you not?
34:55
Speaker 2: And this person or one of my clients has had
34:57
Speaker 2: their insurance policy accepted, but they have an exclusion on
35:02
Speaker 2: that policy for that illness. So if they have to
35:05
Speaker 2: take time off due to work, if they need to
35:08
Speaker 2: claim on income protection for loopers, they won't get it. However,
35:12
Speaker 2: if they're in a car accident, break their leg and
35:14
Speaker 2: can't go to work and stand in retail for the
35:17
Speaker 2: next eight hours every single day, they will be able
35:19
Speaker 2: to claim on it. So it's not saying no, you
35:22
Speaker 2: can't have insurance at all. It's saying you can have
35:26
Speaker 2: insurance for absolutely everything except for that one thing. So
35:30
Speaker 2: from my perspective as a financial advisor, I would recommend
35:34
Speaker 2: getting another opinion or even talking to our friend Phil
35:37
Speaker 2: Feel from sky Wealth, which will link in the show notes.
35:40
Speaker 2: Actually because Phil is an insurance specialist and he has
35:44
Speaker 2: been doing all of our ses on the money insurances.
35:46
Speaker 2: When you guys feel in the form on our website
35:48
Speaker 2: and say I want to talk to someone to sort
35:50
Speaker 2: out my IP, Phil is the one that we usually
35:53
Speaker 2: send you to. So Phil would be able to have
35:55
Speaker 2: a chat with you about what your options are and
35:58
Speaker 2: why you were potentially declined. But from my perspective, I
36:01
Speaker 2: would be getting another opinion.
36:03
Speaker 3: Yeah, So for our friends with autoimmune diseases or bung
36:06
Speaker 3: knees or anything that might give them an exclusion. We've
36:09
Speaker 3: spoken before about mental health being a big one. If
36:12
Speaker 3: there a step that we could take to protect ourselves
36:15
Speaker 3: in the sense of, you know, if that particular thing
36:19
Speaker 3: becomes an issue, because obviously our listener is trying to
36:22
Speaker 3: put herself in the best position, and of course we
36:25
Speaker 3: hope that your autoimmune disease is never going to become
36:28
Speaker 3: overwhelming or become an overarching problem. Should that happen, are
36:33
Speaker 3: there other options of things that she could maybe look
36:35
Speaker 3: into to protect herself in that instance.
36:38
Speaker 2: So, because the condition already exists, you're kind of in
36:41
Speaker 2: a rock and a hard place because from my perspective,
36:44
Speaker 2: an insurer isn't going to want to ensure you for
36:46
Speaker 2: that condition. So I would be making sure that everything
36:49
Speaker 2: else is set up so that you are okay and
36:51
Speaker 2: you have good emergency funds and all of that. But
36:53
Speaker 2: this is why Jess I am so passionate about getting
36:57
Speaker 2: insurance early, because if she had gotten insurance earlier, before
37:01
Speaker 2: this had even come up, she would have been covered
37:03
Speaker 2: for it. And a lot of things actually come up
37:06
Speaker 2: as we get older, so you might not have that
37:09
Speaker 2: at twenty when you have your first full time income,
37:11
Speaker 2: and you might go, what's the point of income protection?
37:14
Speaker 2: The point is to get a policy that doesn't have
37:16
Speaker 2: any exclusions so that you're looking after future you. But
37:19
Speaker 2: there's actually not a whole heap that you can do
37:21
Speaker 2: personally when it comes to getting cover for a pre
37:24
Speaker 2: existing condition. It's like health insurance. If you've already had
37:27
Speaker 2: a cancer, they're not going to cover you for that
37:29
Speaker 2: particular cancer because the probability of you having to claim
37:33
Speaker 2: is crazy. It's really frustrating. But guys, this is why
37:37
Speaker 2: I want you to prioritize getting insurance early. But the
37:40
Speaker 2: second thing Jess and I cannot believe I didn't say
37:42
Speaker 2: this before, is check your superanuation. There are insurances inside
37:48
Speaker 2: your superranuation, and if you have a default policy, it
37:51
Speaker 2: is very probable that that policy doesn't have any exclusions
37:55
Speaker 2: on it. So what you're going to do is it
37:57
Speaker 2: going to work out what that policy is and how
37:59
Speaker 2: it works and what benefit it is to you, And
38:02
Speaker 2: you're going to talk to a financial advisor that can
38:05
Speaker 2: help you understand what's going on, because it does become
38:08
Speaker 2: a bit of a balancing act when you have a
38:10
Speaker 2: medical condition that might give you an exclusion on a policy,
38:13
Speaker 2: and that might mean you go down a hybrid model
38:16
Speaker 2: of having your income protection with an exclusion on it
38:19
Speaker 2: from one place, but then also retaining maybe an income
38:22
Speaker 2: protection policy inside Super that's not as good and you know,
38:27
Speaker 2: not that great, and it might be cheap, and it
38:28
Speaker 2: might only have a payout time of like two years
38:31
Speaker 2: or something. So from my perspective as a financial advisor,
38:34
Speaker 2: I'd be like, if you were a clean skin, i e.
38:37
Speaker 2: Somebody who had absolutely nothing wrong with them, yes I
38:39
Speaker 2: would replace it with a quote better policy. But because
38:42
Speaker 2: it has no exclusions, it's very likely that I might say,
38:46
Speaker 2: but Jess, keep that one as well, because if anything
38:49
Speaker 2: happens with your knee, that is the policy we will
38:52
Speaker 2: claim on because you aren't going to get into any
38:54
Speaker 2: trouble with it. So this is why we need to
38:56
Speaker 2: be so careful with the insurances inside our Super, not
39:00
Speaker 2: just jump on the super website and roll them all
39:02
Speaker 2: together and be like whatever, it doesn't matter, because it does,
39:05
Speaker 2: especially as things come up as we get a bit older.
39:08
Speaker 3: Yeah, so in that case, something is better than nothing.
39:11
Speaker 3: Have your emergency fund in place if you can't get
39:13
Speaker 3: that insurance, talk to an expert, get them to help
39:16
Speaker 3: sort you out wherever possible. If you can't get that
39:19
Speaker 3: insurance policy, which does happen, and it's really unfortunate, look
39:23
Speaker 3: after your emergency funds. Make sure you've done everything to
39:26
Speaker 3: set yourself up so you've got a nice cushion should
39:29
Speaker 3: you need it.
39:30
Speaker 2: Yeah, And I think it's quite unknown, right, So we
39:33
Speaker 2: talk on this podcast about the importance of income protection
39:37
Speaker 2: and the importance of insurance, but I think something that's
39:40
Speaker 2: relatively unknown is that there are people that insurance companies
39:44
Speaker 2: aren't going to want to ensure it all. Yeah, So there
39:46
Speaker 2: are people who might have and I'm not saying this
39:49
Speaker 2: is a bad thing, but people who have multiple serious
39:53
Speaker 2: medical conditions going on are a very big risk to
39:56
Speaker 2: insurers of claiming and therefore a lot of insurers also sorry,
40:00
Speaker 2: I'm not going to ensure you. So there are some
40:02
Speaker 2: people that I have met and I have had to
40:04
Speaker 2: deliver the news to that Unfortunately, I can't find a
40:07
Speaker 2: policy where someone's actually going to ensure you. It's just
40:10
Speaker 2: a no go. And that is true for some careers.
40:13
Speaker 2: So for example, and this is a very recent example,
40:16
Speaker 2: because I have a client who is an air traffic controller.
40:18
Speaker 2: If you're an air traffic controller, you won't get income
40:21
Speaker 2: protection in Australia. Nobody will cover you. Why it's too
40:24
Speaker 2: high risk job in what way? I don't know, because
40:28
Speaker 2: from my understanding, an air traffic controller sits in the
40:31
Speaker 2: control tower and doesn't actually go in the sky. But
40:35
Speaker 2: that is too riskier of a job to be covered.
40:38
Speaker 2: And there are lots of jobs like that where insurance
40:40
Speaker 2: companies are going to be like nop, sorry, George, too
40:43
Speaker 2: risky working at shees on the money. That woman's crazy, No,
40:47
Speaker 2: but it is quite serious. There are careers that aren't
40:51
Speaker 2: going to get income protection, which is why it's really
40:53
Speaker 2: important to check your superannuation again because sometimes they would
40:56
Speaker 2: have given it to you via default, which is very helpful.
41:00
Speaker 2: But there are also times when you might have had
41:02
Speaker 2: too many medical conditions, or you know, if you've gone
41:05
Speaker 2: through a whole heap of mental health issues and then
41:07
Speaker 2: physical health issues and you just haven't gotten out the
41:10
Speaker 2: other side of it yet, they might go absolutely not,
41:12
Speaker 2: we're not ensuring you. But the important thing is to
41:15
Speaker 2: get advice so you know what the action plan is.
41:18
Speaker 2: So my client who's an air traffic controller. Yes, we
41:21
Speaker 2: can't have income protection, but we've done a whole heap
41:24
Speaker 2: of planning on the flip side to make sure that
41:26
Speaker 2: they do have as much protection as we can afford
41:28
Speaker 2: them at this point in time, which means they have
41:31
Speaker 2: increased other policies and we've worked out different amounts of
41:34
Speaker 2: emergency funds that they'd be comfortable with because they just
41:37
Speaker 2: don't have access to that where most of my clients do.
41:40
Speaker 2: So I think it's really important and I know that
41:42
Speaker 2: you guys are going to be like bah, but we
41:44
Speaker 2: can just do it ourselves. A policy through a financial
41:47
Speaker 2: advisor is going to be so much more thought out,
41:49
Speaker 2: like at the end of the day, turns out that's
41:52
Speaker 2: what we do twenty four to seven. We leave it,
41:54
Speaker 2: we breathe it, we have been through it. I know
41:56
Speaker 2: who to call if I'm not sure about whether you're
41:59
Speaker 2: going to get a C or not. I know what
42:01
Speaker 2: to talk to you about and what your priorities are, like,
42:05
Speaker 2: go talk to Phil from Skywealth. I can't do it
42:07
Speaker 2: at this point in time. Sorry, guys.
42:09
Speaker 3: One last question before we scoot off. You used a
42:11
Speaker 3: term before that I'm just not familiar with. You said clean.
42:14
Speaker 2: Skin oh yeah. So in the financial advice world, a
42:19
Speaker 2: clean skin, which I shouldn't even be using on the podcast,
42:23
Speaker 2: is essentially somebody who, if you applied to an insurance
42:27
Speaker 2: company with, would have absolutely no exclusions and slides straight
42:30
Speaker 2: into getting full income protection, full insurances with no questions.
42:35
Speaker 2: It would be somebody who has an incredibly clean medical history,
42:38
Speaker 2: nothing's ever gone wrong, there's no genetic issues in the background,
42:42
Speaker 2: because when you do go for income protection, guys, they're
42:44
Speaker 2: going to say, have your parents had any kind of issues?
42:47
Speaker 2: Has anything gone on? So a clean skin is somebody
42:50
Speaker 2: who is essentially a dream client for a financial advisor
42:53
Speaker 2: when it comes to insurance because they have nothing that
42:56
Speaker 2: an insurance company would go little red flag? Can we
42:59
Speaker 2: talk about? Interesting in saying that, guys, I think we're
43:03
Speaker 2: done here. We've talked about clean skins, We've talked about
43:05
Speaker 2: the Tinder swindler of red flags, We've given some dating advice,
43:08
Speaker 2: We've talked about income protection. Like, I just feel like
43:11
Speaker 2: this episode we're done. What do you guys? Reckon?
43:14
Speaker 4: Yeah, ready to roll? It's think Yeah, I.
43:17
Speaker 2: Feel like this is a pretty good episode. If you
43:19
Speaker 2: don't ask me anyway, it is time to go so
43:22
Speaker 2: just before we head off, we'd like to acknowledge and
43:25
Speaker 2: pay respect to Australia's Aboriginal and Torres Right Islander people's.
43:29
Speaker 2: They're the traditional custodians of the lands, the waterways and
43:32
Speaker 2: the skies all across Australia. We thank you for sharing
43:36
Speaker 2: and for caring for the land on which we are
43:38
Speaker 2: able to learn. We pay respects to elders past and present,
43:41
Speaker 2: and we share our friendship and our kindness.
43:44
Speaker 4: And the advice sheed on. She's on the money is
43:46
Speaker 4: general in nature and does not consider your individual circumstances.
43:50
Speaker 4: She's on the Money exists purely for educational purposes and
43:53
Speaker 4: should not be relied upon to make an investment or
43:56
Speaker 4: a financial decision. And we promise Victoria Divine an authorized
44:00
Speaker 4: representative of Infocused Securities Australia Proprietly Limited A B and
44:05
Speaker 4: four seven zero ninety seven seven nine seven zero four
44:08
Speaker 4: nine a FO CL two three six five two three.
44:11
Speaker 2: We'll get to the point where that rolls off your
44:13
Speaker 2: tongue again. Drink it was okay, Sorry, sorry, see you
44:19
Speaker 2: next week. Guys.
44:20
Speaker 4: Hi, guys,