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How Do I Compare (And Close Old) Super Accounts? · She's On The Money

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  Speaker 1: My name's Tatasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country t glennyan Ganya, Niana,
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  Speaker 1: Kaka yah Ya Binahaka nian arka In Mbini, yakarum Jar,
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  Speaker 1: Doumayagumika Umaga Ihowaka, Nile, waman dam and immalan umabang gadabama
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  Speaker 1: In and naw In Waka Ghana and yak rum jar Watanadaa. Hello,
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  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
• 0:26
  Speaker 1: We thank acknowledge and respect the Aboriginal people's land that
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  Speaker 1: we're gathering on today. Take pleasure in all the land
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  Speaker 1: and respect all that you see. She's on the Money
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  Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,
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  Speaker 1: knowledge and resources for you to thrive.
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  Speaker 2: She's on the Money.
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  Speaker 3: She's on the Money.
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  Speaker 4: Hello, and welcome to She's on the Money, the podcast
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  Speaker 4: where we usually discuss all the issues concerning your wealth
• 0:56
  Speaker 4: goals so that you can feel more in control of
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  Speaker 4: your financial future. But on Fridays we loosen our ties
• 1:02
  Speaker 4: in favor of something a little bit more casual. Here
• 1:05
  Speaker 4: on Friday Drinks, you can expect entertaining questions from our community,
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  Speaker 4: the odd money related dilemma and insightful yaps with our
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  Speaker 4: two favorite podcast co hosts, Miss beck Sayed and Miss Garci.
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  Speaker 4: Beck is a quotable, conversational preserver of continental cucumbers.
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  Speaker 5: And a voice of the people.
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  Speaker 6: Oh that's so nice.
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  Speaker 5: I do like a pickle.
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  Speaker 3: I do like a pickle.
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  Speaker 4: And Jess is a partnership's savant pilate is enthusiast and
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  Speaker 4: sometimes soer. Together, they'll be bringing you some money wins
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  Speaker 4: and broake tips from the community because knowledge is power.
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  Speaker 4: Up my friends, I'm so welcome to Friday Drinks Beautiful VD.
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  Speaker 5: Did you know that you're a preserver of continental cucumbers?
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  Speaker 3: Oh yeah, call back to episode you missed, Miss It's
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  Speaker 3: a very lovely hand jestures.
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  Speaker 6: Yes, well, in order to explain a cucumber, Unfortunately, we
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  Speaker 6: need to know.
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  Speaker 4: You don't just say hey, guys, cucumbers and people go, yes,
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  Speaker 4: I do. Because I don't live.
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  Speaker 5: Under a rock. You don't need me to know. Especially fine.
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  Speaker 4: Anyway, moving on, today is super In fact, today's episode
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  Speaker 4: is super No really, it is giving superanuation, specifically what
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  Speaker 4: you might do if you find that you have multiple
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  Speaker 4: Superanuation accounts and you just don't know what to do.
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  Speaker 4: Turns up, we do, from comparison and consolidation to closing
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  Speaker 4: extra accounts. We're going to be covering what to look
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  Speaker 4: out for in that process. We're also going to be
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  Speaker 4: discussing this week's money dilemma, which concerns Superanuation. Told you
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  Speaker 4: it was a super episode and investing for retirement. Does
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  Speaker 4: it beat the share market? You're going to have to
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  Speaker 4: wait and find out.
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  Speaker 7: This week.
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  Speaker 5: We are living in the future and we actually can't
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  Speaker 5: wait to see what it holds.
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  Speaker 4: Right after this break, Welcome back, my friends, and you
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  Speaker 4: you're back just in time for a five star review?
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  Speaker 3: Are you ready?
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  Speaker 4: I know that I said we are living in the future,
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  Speaker 4: but this segment is all about looking fondly at the
• 3:08
  Speaker 4: past and how you our lovely listeners have been receiving
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  Speaker 4: our podcast. If you have a five star review that
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  Speaker 4: you are dying to be shared on the show, please
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  Speaker 4: leave it wherever you get your podcasts.
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  Speaker 5: My friends. This comes from someone with a great name.
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  Speaker 5: Their name is Beck. Oh are you ready ready?
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  Speaker 4: Beck wrote, I just wanted to send a shout out
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  Speaker 4: to you, Jess and Beck and thank you for a
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  Speaker 4: seriously awesome podcast. I started listening to your show in
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  Speaker 4: early twenty twenty five when I was trying to find
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  Speaker 4: a particular podcast to show my eleven year old daughter
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  Speaker 4: to show her how annoying it was. Don't worry, it
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  Speaker 4: wasn't yours. I played one of your pods, thinking it
• 3:44
  Speaker 4: was the one I was searching for, then five minutes
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  Speaker 4: in realized it wasn't and it was really good, and
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  Speaker 4: I got completely hooked.
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  Speaker 3: Oh my god, that's so good.
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  Speaker 5: That's a niche way of finals.
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  Speaker 3: We got cha.
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  Speaker 4: You cover topics that other finance podcasts I listened to
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  Speaker 4: don't when it comes to things like the vaginant attacks,
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  Speaker 4: interviewing money darists from all walks of life like the
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  Speaker 4: sex industry, and I couldn't love it more. I'm now
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  Speaker 4: listening to the back catalog. Guys, I'm up to June
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  Speaker 4: twenty twenty one. Hello from five Years in the Future,
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  Speaker 4: and you've quickly become my favorite podcast of all time.
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  Speaker 5: Oh isn't that so sweet?
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  Speaker 4: That I am so thrilled for you and also thrilled
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  Speaker 4: that we made the cut of not being the annoying
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  Speaker 4: podcast that you were going to show your eleven year
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  Speaker 4: old Toyah.
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  Speaker 6: That's so nice.
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  Speaker 3: I first, we want to know what this podcast is?
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  Speaker 5: Can you dam me? Because I just feel like that
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  Speaker 5: wasn't enough information. Yeah, I won't share it on the podcast. No, no, no,
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  Speaker 5: maybe I will imagine if it was really really annoying.
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  Speaker 6: Yeah, well then we please. I wonder how long, because
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  Speaker 6: it took five minutes. I wonder if that she was
• 4:42
  Speaker 6: like for a little while, I was like, yeah, this is.
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  Speaker 7: It, this is it?
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  Speaker 5: Five minutes were listening to? And what were you listening for?
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  Speaker 3: Anyway?
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  Speaker 6: I'm so excited to find out what the anyway, I
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  Speaker 6: just want the Jews.
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  Speaker 4: So if you found it and you showed her, please
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  Speaker 4: also show us please right moving on to think of it,
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  Speaker 4: it would be a very spicy question of the week,
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  Speaker 4: like what's the most annoying podcast you've ever listened to?
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  Speaker 4: We not really do that, but here's one we've prepared earlier.
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  Speaker 4: This one actually comes from a lovely friend called Nikita,
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  Speaker 4: and she asks, are you ready when you get in
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  Speaker 4: the shower in the mornings?
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  Speaker 5: All the evenings they go, We're ready.
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  Speaker 4: Already, all right, haven't even got them? Okay, I'll add that,
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  Speaker 4: do you face the shower head so that the water
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  Speaker 4: is on your chest. Or do you have the water
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  Speaker 4: falling on your back while you face away, I think?
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  Speaker 4: Or do you have a third routissery chicken option and
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  Speaker 4: you go between the two.
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  Speaker 6: I was gonna say rutissary chicken, but I think I'm
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  Speaker 6: mainly away away into the side. Oh yeah, I'm a
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  Speaker 6: side like side, I think side. I think I'm not
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  Speaker 6: facing the head and I'm facing sideways outside.
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  Speaker 3: But also have a bath shower, you know, So.
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  Speaker 5: I feel like a lot of limiting your options limiting.
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  Speaker 6: It's quite limiting. So yeah, I think, but I also
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  Speaker 6: do dabble in a rots three chicken.
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  Speaker 5: Yeah, okay, okay, all right, mister.
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  Speaker 3: Rotesar your chicken all the way.
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  Speaker 7: I think like I've got to wash my face and
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  Speaker 7: I've got to wash my hair, and I need to
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  Speaker 7: be facing two different directions due each those activities. I
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  Speaker 7: think I mostly face the front, like face the shower
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  Speaker 7: with like a little wishy washy motion.
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  Speaker 5: Oh yeah, yeah, moving because you need to get one
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  Speaker 5: shoulder under ye.
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  Speaker 7: I'm in there to be warm. You know, it's ten
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  Speaker 7: thousand degrees in my shower. I want to feel it.
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  Speaker 7: So no standing to the side for me. But yeah,
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  Speaker 7: I think it depends on what part of my body
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  Speaker 7: i'm washing. Washing my face, I'm facing the thing. If
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  Speaker 7: i'm washing my hair, I'm facing away. If I'm washing
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  Speaker 7: my back, I'm facing away. If I'm washing my legs,
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  Speaker 7: I'm facing the thing.
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  Speaker 3: Don't know why.
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  Speaker 5: It's really insightful.
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  Speaker 6: Yeah, oh actually no, Yeah, you want to get the
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  Speaker 6: front leg? Yeah, yeah, okay, And it's so funny because
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  Speaker 6: it's like the shower it will reach your front leg
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  Speaker 6: either way, but something about it psychologically, like you won't
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  Speaker 6: reach the front leg unless you're facing it.
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  Speaker 3: Yeah. I don't know what it is.
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  Speaker 5: I don't know, I get it.
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  Speaker 3: It's a very particular thing. Did you say, if you're
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  Speaker 3: a morning or a night shower.
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  Speaker 6: Sometimes I forget for days and so, and then it's
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  Speaker 6: like middle of the day because I'm like, oh my god,
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  Speaker 6: I haven't done.
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  Speaker 3: This in a while, and so it's the middle of
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  Speaker 3: the day.
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  Speaker 5: I can't exist without a shower.
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  Speaker 6: At night when I'm doing a bit of self care,
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  Speaker 6: it's a nighttime. But if it's like you know, functional,
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  Speaker 6: it's probably morning time and.
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  Speaker 7: I can't get into the bed dirty. Yeah, it's like
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  Speaker 7: a decontamination like shower and hair wash day, like only
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  Speaker 7: every power of me days.
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  Speaker 5: I see, I see, yeah, so oh, thank you for asking.
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  Speaker 5: I have been waiting for this time to shine.
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  Speaker 4: So I shower every single night before bed because same
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  Speaker 4: as you, I just can't get outside germs in my bed.
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  Speaker 4: I also have to wear pajamas in bed. That's a
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  Speaker 4: completely separate segue. We can ask the team about that
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  Speaker 4: another day if anyone's interested. But if I'm washing my hair,
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  Speaker 4: it's in the morning, so like I would never wash
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  Speaker 4: my hair at night, and I'm a bougie lady.
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  Speaker 2: Guys.
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  Speaker 4: I actually have two different shower heads in my shower.
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  Speaker 4: We have the rainfall shower and then we have the
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  Speaker 4: like hand held shower head. So at nighttime, I'm only
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  Speaker 4: using the hand held because I do not want the
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  Speaker 4: rain shower stuff because I I'll end up with a
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  Speaker 4: sore neck if I'm like trying.
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  Speaker 5: To keep my hair out of that rain. Yes, anyway,
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  Speaker 5: the shower cat so wildly out of touch, but that
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  Speaker 5: is fine.
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  Speaker 4: No, No, I'll just use the shower head one and
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  Speaker 4: so I use that like it's obviously still attached to
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  Speaker 4: the wall. And then yeah, shower at night, get out
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  Speaker 4: deodorant at night, yes, yeap, and then getting bed cool,
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  Speaker 4: and then in the morning if I need to wash
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  Speaker 4: my hair, I will wake up an hour earlier, Oh no,
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  Speaker 4: and wash my hair and blow dry my hair and
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  Speaker 4: do everything that I need to do, because I just
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  Speaker 4: want to make sure that I'm not like trying to
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  Speaker 4: rush my hair so that I can get out. But
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  Speaker 4: I only wash my hair like once or twice a week,
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  Speaker 4: if that so fair?
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  Speaker 3: But what about Rich's through chicken?
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  Speaker 5: Yeah, I feel like.
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  Speaker 4: With the shower head thing, I like face it, okay,
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  Speaker 4: like I'll turn to like rinse my back and stuff.
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  Speaker 4: But like if I'm getting in the shower at night
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  Speaker 4: time because I've had day germs on me, I get in,
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  Speaker 4: I face the shower heads, yes, and I washed my face.
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  Speaker 5: I brush my teeth because I brush my teeth in
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  Speaker 5: the shower.
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  Speaker 6: Is that no I do?
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  Speaker 5: That's acceptable?
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  Speaker 3: I don't think jolly, But I think yes, no.
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  Speaker 1: Not.
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  Speaker 7: The only time I ever do it is if I'm
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  Speaker 7: a rush, in which case I will, But otherwise I
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  Speaker 7: don't love leaving it in there. What brush my teeth
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  Speaker 7: over the sink?
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  Speaker 4: No, my toothbrush lives in the shower and there's like
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  Speaker 4: a whole oral care process. Yes, of tongue scraping, water flossing,
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  Speaker 4: normal flossing, toothbrushing. That all happens every single night in
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  Speaker 4: the shower.
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  Speaker 3: Yes, shower is so interesting.
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  Speaker 5: Enjoy it more. Yeah, because you can get hanging.
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  Speaker 4: No no, no, no, I'm not getting but I'm like
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  Speaker 4: just hanging in the shower because like my oral care
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  Speaker 4: takes a long time. Yeah, because I have a proper
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  Speaker 4: like copper tongue scraper, then I have my water flosser,
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  Speaker 4: then I do not more floss.
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  Speaker 5: That's a whole five minutes in itself.
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  Speaker 3: Because it's a very water efficient. It's not that's true that.
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  Speaker 5: I wouldn't have existed well in a drought.
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  Speaker 6: That's a really good point. Actually we don't think about
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  Speaker 6: the environment. But sometimes, like when I clean the bathroom
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  Speaker 6: or the shower or something, I'm like fully naked because
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  Speaker 6: you want to get like you wanted things everywhere the
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  Speaker 6: same when you're like brushing your teeth, you're like you
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  Speaker 6: don't want to be making sure that you're not getting
• 10:23
  Speaker 6: too much of things, so get you stripped down and
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  Speaker 6: you go crazy in the mouth.
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  Speaker 5: Do you know what?
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  Speaker 4: I always and like I hadn't really thought about this
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  Speaker 4: until I made that video on me cleaning my toilets
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  Speaker 4: that somehow went viral and made the Daily Mail. I've
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  Speaker 4: done so much in my life, and yet that's what's
• 10:45
  Speaker 4: helping me shine. I usually clean my toilet right before
• 10:48
  Speaker 4: I get in the shower, yes, like, because I'm just like, oh,
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  Speaker 4: I don't really want to clean the toilet. And I
• 10:52
  Speaker 4: actually clean the toilet a couple of times a week,
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  Speaker 4: so I always like, do the bleach and the scrubby
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  Speaker 4: scrub as the shower is heating up, and then I
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  Speaker 4: get it, and I feel like none of the toilet
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  Speaker 4: germs or on me anymore because I've had a full shower. Anyway,
• 11:05
  Speaker 4: I feel like that's enough toilet talk.
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  Speaker 5: What do you reckon?
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  Speaker 3: Agreed?
• 11:09
  Speaker 4: But also it turns out I've never had an original
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  Speaker 4: experience in my life. Like I was like, Oh, it's
• 11:14
  Speaker 4: real niche that I brush my teeth in the shower,
• 11:16
  Speaker 4: and you're like.
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  Speaker 3: No, it's not sick.
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  Speaker 6: Hey, maybe we're both unique.
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  Speaker 4: Now we are.
• 11:20
  Speaker 5: We're unique in exactly the same way.
• 11:22
  Speaker 4: We're so nice anyway, we're always on the hunt for
• 11:25
  Speaker 4: more questions of the week. We're actually insatiable like that,
• 11:28
  Speaker 4: please send them on in Our dms are always open.
• 11:31
  Speaker 4: Speaking of which, this week we'd actually received a money
• 11:34
  Speaker 4: in our voicemail inbox too, so we've got a little
• 11:37
  Speaker 4: voicemail box on. She's on the money website where you
• 11:40
  Speaker 4: leave your money dilemma, but this person left us a
• 11:42
  Speaker 4: money win, which I absolutely loved. So occasionally the inbox
• 11:45
  Speaker 4: where we get our money dilemma features the odd review
• 11:47
  Speaker 4: and casual tip bit rolls in as well. But this
• 11:50
  Speaker 4: week one community member told us via voicemail that then
• 11:53
  Speaker 4: negotiated a point two percent drop of their mortgage interest rate.
• 11:57
  Speaker 4: It doesn't sound like much, but in this economy that
• 12:00
  Speaker 4: is massive.
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  Speaker 5: That is huge.
• 12:01
  Speaker 4: So I just wanted to remind people that that exists,
• 12:04
  Speaker 4: and you can call up your mortgage issuer at any
• 12:07
  Speaker 4: point and ask whether they're willing to negotiate.
• 12:10
  Speaker 5: Good idea. But jess, what money wins can you share
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  Speaker 5: with us? From the week that was.
• 12:14
  Speaker 3: Well, lots made it to the thread this week.
• 12:16
  Speaker 7: First they've got one from Ashley who said my husband
• 12:18
  Speaker 7: entered a competition through the Good Guys a couple of
• 12:21
  Speaker 7: months ago. We received a call recently saying you'd one
• 12:24
  Speaker 7: we got a new LGTV a sound system worth over
• 12:27
  Speaker 7: five thousand dollars on its way to us.
• 12:29
  Speaker 3: And we cannot wait for the upgrade. Amazing. Love that.
• 12:32
  Speaker 7: Then Amy said she had a promo for new customers
• 12:36
  Speaker 7: at Woolies where you would get fifty dollars off and
• 12:39
  Speaker 7: an apt promo for twenty dollars off if you spent
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  Speaker 7: two hundred dollars. Needless to say, her partner now has
• 12:44
  Speaker 7: a Wooli's account. They click and collected the order and
• 12:47
  Speaker 7: with the usual specials, those extra deals, et cetera, they
• 12:50
  Speaker 7: saved over one hundred dollars on their groceries this week.
• 12:53
  Speaker 7: Love of all say how good when things stack? Madison said,
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  Speaker 7: money win. One of my lovely neighbors dropped off a
• 12:58
  Speaker 7: wheelbarrow of hardwood for us to use in our fire.
• 13:01
  Speaker 7: We have the best street and I love all of
• 13:03
  Speaker 7: my neighbors so much.
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  Speaker 3: I just thought that sounded very wholesome.
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  Speaker 5: That is very wholesome.
• 13:07
  Speaker 3: I love the idea of that.
• 13:08
  Speaker 5: It is so expensive.
• 13:10
  Speaker 7: Yeah, like you said, someone who's got extra stuff left
• 13:12
  Speaker 7: over from something, or it's just nice to check in
• 13:14
  Speaker 7: on your neighbors see if they need it. Jamie said
• 13:17
  Speaker 7: she lives off the disability pension and her shared dividends,
• 13:21
  Speaker 7: and when she worked out her budget for the last
• 13:23
  Speaker 7: financial year, it looked like she was basically going to
• 13:25
  Speaker 7: break even. Turns out she earned more than she spent,
• 13:29
  Speaker 7: so that extra money has now gone into her emergency
• 13:31
  Speaker 7: fund and she officially has her first emergency file. Well done, Jamie,
• 13:36
  Speaker 7: that's sick.
• 13:37
  Speaker 5: That's my favorite one. Yeah, favorites.
• 13:40
  Speaker 3: I don't big favorites, but you can rue. It's like
• 13:43
  Speaker 3: I can't pick a favorite child, you know exactly.
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  Speaker 5: You don't even have children.
• 13:47
  Speaker 7: Yeah, you guys, what's weird to call you my children?
• 13:50
  Speaker 7: But I feel a lot of love towards you anyway.
• 13:53
  Speaker 7: Cue Jill said money when she.
• 13:55
  Speaker 3: Catched her cans and got over.
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  Speaker 7: One hundred dollars back, which is crazy. I can really
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  Speaker 7: imagine how many garbage bags full of cans that is.
• 14:02
  Speaker 7: And then lastly this week, Jazz Pretz said they set
• 14:04
  Speaker 7: up a compost heat for the beginnings of a terrace garden,
• 14:07
  Speaker 7: and with all of the grass clippings and the greenways
• 14:09
  Speaker 7: from the kitchen, there's a really nice compost pile for
• 14:12
  Speaker 7: spring gardening. Combos is so expensive when you get it
• 14:15
  Speaker 7: from Bunnings and garden stores and it very quickly adds up.
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  Speaker 7: And she also used chicken wire that she found on
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  Speaker 7: the side of the road.
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  Speaker 4: Win.
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  Speaker 7: Hell, I love to see that and a good way
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  Speaker 7: to use all your scraps and turn it into something good.
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  Speaker 6: For sure, love to catch in these cans, that's for sure.
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  Speaker 5: Okay.
• 14:33
  Speaker 3: Do you guys want some brick tips? Absolutely?
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  Speaker 6: Thank you. What I'll do is I'll start with one
• 14:37
  Speaker 6: from someone that we maybe know, Indy, who used to produce.
• 14:42
  Speaker 5: She can come back to Indie because I could have
• 14:44
  Speaker 5: Indi back. I absolutely would have Indie backs.
• 14:46
  Speaker 3: Well, we make a call for this, okay, thank you.
• 14:49
  Speaker 3: So India has a really clever wise.
• 14:51
  Speaker 6: So she says that she checks what class actions are
• 14:53
  Speaker 6: out and about and joins all of them.
• 14:55
  Speaker 3: You never know what you could get.
• 14:56
  Speaker 6: So, like, let's say right now, there's a class action
• 14:58
  Speaker 6: for robodebt as well contests and some random ones for
• 15:03
  Speaker 6: Jbhi fi like bits and pieces like that. And it's
• 15:07
  Speaker 6: often for your bigger products like let's say like MacBook
• 15:11
  Speaker 6: or something like that, and you know who knows what
• 15:14
  Speaker 6: they're for and why they exist. But sign the hell
• 15:17
  Speaker 6: up and you never know you might get twenty bucks
• 15:19
  Speaker 6: here or there.
• 15:20
  Speaker 3: You know, I've got to be payout from OPTAs actually
• 15:22
  Speaker 3: really one thousand this year. Yeah, how did you get that?
• 15:25
  Speaker 7: Well, so this is have I mentioned this on the
• 15:27
  Speaker 7: show four years ago when we went to Europe, there
• 15:29
  Speaker 7: was this all this drama because I went in they
• 15:31
  Speaker 7: told me that my SIM, Like I went to pause
• 15:34
  Speaker 7: my SIM because I was going out seas and I
• 15:36
  Speaker 7: was going to get like a different They're like, oh,
• 15:37
  Speaker 7: you can just use the one you have And I
• 15:39
  Speaker 7: was like, won't that be really expensive? They said, oh,
• 15:40
  Speaker 7: you'll get updates like as you've used your data, so
• 15:43
  Speaker 7: you can decide. And remember, we would get home at
• 15:45
  Speaker 7: the end of the day and I'd get like, all
• 15:46
  Speaker 7: of a sudden fifty text being like, you've used twenty
• 15:48
  Speaker 7: five percent of your data, you've used fIF percent of
• 15:50
  Speaker 7: you've one hundred percent of your.
• 15:51
  Speaker 3: Data without a ten dollars fifty yeah.
• 15:53
  Speaker 7: Yeah, And so like I came home and my phone
• 15:56
  Speaker 7: bill was nearly one thousand dollars WHOA, and I free
• 16:00
  Speaker 7: down and I called them and I tried to negotiate
• 16:02
  Speaker 7: it down, and they negotiated it down, but they didn't
• 16:05
  Speaker 7: like get rid of the full cost, right there's also
• 16:08
  Speaker 7: been like issues for me with like coverage and all
• 16:10
  Speaker 7: the other sources. Anyway, I filled out the form, somebody
• 16:13
  Speaker 7: called me. I wasn't really sure if it would work
• 16:14
  Speaker 7: or not, and then yeah, I got I think like
• 16:16
  Speaker 7: three thousand dollars.
• 16:18
  Speaker 3: Wow, great, even incredible. That's so good. Well stoked for you,
• 16:23
  Speaker 3: thank you. So there you go.
• 16:24
  Speaker 6: There's an experience firsthand. I actually don't know where you'd
• 16:26
  Speaker 6: find them, but maybe just google class action and see
• 16:28
  Speaker 6: how you go. The next one comes from Ria, who
• 16:31
  Speaker 6: says Plex or Streamio are free and you can basically
• 16:34
  Speaker 6: get any movie or series on there.
• 16:36
  Speaker 3: I always use Streamio. You guys probably have heard of Streamio.
• 16:39
  Speaker 4: I have not.
• 16:41
  Speaker 3: I heard a plea you've heard.
• 16:43
  Speaker 6: I've heard of Plex before, but Streamo, I guess combined
• 16:47
  Speaker 6: the two and they're free and you just like go
• 16:49
  Speaker 6: on you search something, you'll find it.
• 16:51
  Speaker 3: I mean, they're legal, but some things.
• 16:53
  Speaker 6: On there are like bootleg, so who knows ever with
• 16:55
  Speaker 6: those ones, but it's incredible, So get it of Netflix.
• 16:58
  Speaker 5: Well streaming services add up? Do I know these subscriptions
• 17:02
  Speaker 5: like I do not like subscription culture?
• 17:05
  Speaker 3: No exactly.
• 17:07
  Speaker 6: And then my one, you can now transfer your existing
• 17:10
  Speaker 6: bond to your new bond. This is victoria, I should say,
• 17:12
  Speaker 6: So you don't have to pay bond and then wait
• 17:14
  Speaker 6: for your last bond to come back through, so that yes,
• 17:18
  Speaker 6: I think that was July one. Jewel sounds like I
• 17:24
  Speaker 6: was saying that backwards and reverse. July one, I think
• 17:27
  Speaker 6: is when they started doing that. So, yeah, you can,
• 17:29
  Speaker 6: you know, sign up for a least. I hate that
• 17:31
  Speaker 6: feeling of when you're moving into a new house and.
• 17:33
  Speaker 4: You've got to come up with a whole head. Yeah,
• 17:35
  Speaker 4: just a period of time that you arguably don't even have.
• 17:38
  Speaker 6: Exactly and also like double rent probably at the same time. Yeah,
• 17:41
  Speaker 6: it's just exorbitant. So now you can transfer that bond over.
• 17:44
  Speaker 3: That's awesome.
• 17:45
  Speaker 5: I love that.
• 17:46
  Speaker 4: I feel like that's a very good tip back, and
• 17:49
  Speaker 4: I love what you come up with and what the
• 17:50
  Speaker 4: community dms you. Yeah, sometimes very unhinged, but also sometimes
• 17:54
  Speaker 4: perfectly positioned for the show.
• 17:56
  Speaker 5: I keep them coming in.
• 17:58
  Speaker 4: And also for those of you who don't know where
• 18:00
  Speaker 4: to send a broke tip, we have a whole thread
• 18:02
  Speaker 4: every single week on the Facebook group that BET gets
• 18:04
  Speaker 4: to peruse and have a look at, where everybody shares
• 18:08
  Speaker 4: their broke tips and If you haven't joined my friends,
• 18:10
  Speaker 4: you are missing out all right after the break something super,
• 18:14
  Speaker 4: So don't go anywhere.
• 18:19
  Speaker 3: Welcome back, everybody. Let's take a listen to this week's
• 18:21
  Speaker 3: money dilemma.
• 18:24
  Speaker 8: Hi, there, have you got a money dilemma you just
• 18:26
  Speaker 8: can't solve? The Sheese on the Money team is here
• 18:29
  Speaker 8: to help. Every week we tackle your dilemmas, both big
• 18:32
  Speaker 8: and small, to answer your most burning money, career and
• 18:35
  Speaker 8: life questions. To get involved, simply head to our website
• 18:38
  Speaker 8: and leave us a short voice recording and you might
• 18:40
  Speaker 8: just find yourself on the show.
• 18:42
  Speaker 5: Now, let's take a listen to this week's money dilemma.
• 18:47
  Speaker 2: Hey, longtime listener, I love you guys. I got a
• 18:49
  Speaker 2: question about superannuation and investing. Am I better off just
• 18:54
  Speaker 2: putting money into my super weekly or monthly and sotead
• 19:00
  Speaker 2: of investing? Because at the end of the day, if
• 19:02
  Speaker 2: I grow my investment portfolio, isn't that just going to
• 19:05
  Speaker 2: get taxed a lot compared to my Super which I
• 19:08
  Speaker 2: want to use that investment to retire early anyway, So
• 19:12
  Speaker 2: what's the difference between that and am I better off
• 19:14
  Speaker 2: just putting it in my Super?
• 19:16
  Speaker 3: Thanks?
• 19:17
  Speaker 4: I told you we had a super question. But I'm
• 19:19
  Speaker 4: not going to answer first, even though I really want to.
• 19:23
  Speaker 4: I'm not even going to ask you. You're eating a lolly.
• 19:27
  Speaker 4: It's just grichy.
• 19:28
  Speaker 3: Yes, are you also eating lollss No, I ate minority.
• 19:31
  Speaker 3: I was very quick. I'm not even efficient. My mouth
• 19:34
  Speaker 3: is already. You had me until you said you wanted
• 19:36
  Speaker 3: to retire early.
• 19:37
  Speaker 7: Yes, I am safe. So the thing with super innuation
• 19:40
  Speaker 7: you need to do the math. Obviously, there are tax
• 19:42
  Speaker 7: benefits contributing to SUPER. You're correct that any dividends or
• 19:46
  Speaker 7: income derived from your owned investments you owe tax on.
• 19:50
  Speaker 7: You do also technically pay tax.
• 19:51
  Speaker 3: On them, and you're super. You just don't see you
• 19:53
  Speaker 3: paid fifteen percent. Yes, exactly right.
• 19:55
  Speaker 7: But outside of all of that, the big thing is
• 19:58
  Speaker 7: any money you contribute to SUPER, generally speaking, you can't
• 20:01
  Speaker 7: access it until you reach the age of retirement, which
• 20:03
  Speaker 7: I think is currently sixty five.
• 20:05
  Speaker 5: Yes, the age of sixty five. The age of preservation
• 20:07
  Speaker 5: is sixty seven.
• 20:08
  Speaker 3: Oh, there we go.
• 20:09
  Speaker 7: So if you want to retire at say forty, that's
• 20:13
  Speaker 7: but you can't access the money that's in there. And
• 20:15
  Speaker 7: so if the goal is to be able to fund
• 20:18
  Speaker 7: early retirement, I think that investing probably is the way
• 20:21
  Speaker 7: to go. That's not to say that you might not
• 20:22
  Speaker 7: contribute to SUPER at all. It might still be a
• 20:24
  Speaker 7: part of your strategy because, like I said, there are
• 20:26
  Speaker 7: tax benefits, but not being able to access those funds
• 20:30
  Speaker 7: puts a bit of a kink in the plan.
• 20:32
  Speaker 6: Yeah, absolutely, absolutely, Beck, I'm just going to say what
• 20:36
  Speaker 6: she said. I'm going to say exactly what Jess said,
• 20:38
  Speaker 6: and I agree with Jess, and why not split up
• 20:41
  Speaker 6: the two because sometimes it is nice. We won't think
• 20:43
  Speaker 6: it's good to just in case have access, but if
• 20:45
  Speaker 6: you're anything like me, it's not good to have access.
• 20:48
  Speaker 4: And so you know, bit a half half I like
• 20:52
  Speaker 4: that as well, because you're like, if I can't be
• 20:54
  Speaker 4: trusted with it, lock it away exactly what Jess said, Like,
• 20:57
  Speaker 4: you're not going to be able to access that money
• 20:59
  Speaker 4: into your present age and your preservation age is when
• 21:01
  Speaker 4: you don't have to pay tax on your super to
• 21:04
  Speaker 4: access it early. Obviously you could access it from sixty five,
• 21:07
  Speaker 4: but for me personally, I don't want to have all
• 21:10
  Speaker 4: my eggs in that basket and have to wait. Like,
• 21:13
  Speaker 4: as I've said a million times, age is a privilege
• 21:15
  Speaker 4: that is denied to many people, and I feel like
• 21:19
  Speaker 4: having an investment portfolio outside superannuation is really powerful. Like
• 21:23
  Speaker 4: in a perfect world, guys, I'll be retirement ready by
• 21:27
  Speaker 4: the age of forty five, and that would you be
• 21:30
  Speaker 4: really nice. But that means from the age of forty
• 21:32
  Speaker 4: five to the age of sixty five, I've got to
• 21:34
  Speaker 4: be completely self funded if i wanted to retire, like
• 21:38
  Speaker 4: I have to, you know, have that money in an
• 21:40
  Speaker 4: investment account or in savings to be able to retire
• 21:42
  Speaker 4: because I can't touch my soup yet, So it's completely
• 21:46
  Speaker 4: up to you what you do. You might go back Victoria,
• 21:48
  Speaker 4: I just don't want to touch it until then. And
• 21:50
  Speaker 4: this works for my goals and my system and my
• 21:53
  Speaker 4: strategy go off. You can make concessional contributions to superannuation,
• 21:58
  Speaker 4: which is really cool, and you could get some tax
• 21:59
  Speaker 4: back in In fact, Beck and I recently recorded a
• 22:01
  Speaker 4: whole episode on doing supernuation contributions and what that could
• 22:06
  Speaker 4: look like for retirement. So that might be of interest
• 22:08
  Speaker 4: to you. But investing early for retirement for early retirement
• 22:13
  Speaker 4: would mean that you're probably not using the superannuation environment
• 22:16
  Speaker 4: just because purely they don't work together. Early retirement and
• 22:20
  Speaker 4: superannuation reliance like, don't it doesn't work. It just doesn't work.
• 22:23
  Speaker 4: And that's not advice, that's just fact true.
• 22:25
  Speaker 3: There you go.
• 22:26
  Speaker 4: Anyway, the super slew thing has continued into our DMS guys,
• 22:30
  Speaker 4: where one of our community members has I'm going to
• 22:32
  Speaker 4: make this sound illegal, found themselves in possession of multiple
• 22:37
  Speaker 4: superannuation accounts.
• 22:39
  Speaker 7: Ah.
• 22:39
  Speaker 3: Yes, we've been there.
• 22:40
  Speaker 4: It happens, honestly more than you think. It happened to me.
• 22:43
  Speaker 4: Pretty sure Jess was in that situation. I wouldn't be
• 22:45
  Speaker 4: surprised if Beck has had that too.
• 22:47
  Speaker 5: Why are you laughing? You still got more than one
• 22:48
  Speaker 5: super account?
• 22:49
  Speaker 3: Possibly? No, I don't think.
• 22:50
  Speaker 5: I don't. I think we fixed that ages ago.
• 22:52
  Speaker 3: I think so.
• 22:52
  Speaker 4: I mean we. I mean you fixed that with absolutely
• 22:55
  Speaker 4: no external advice, no advice, no advice, no, no, no, no, anyway.
• 23:01
  Speaker 5: Would you like me to read it out? Yes? Please?
• 23:03
  Speaker 4: Okay, Hi, Victoria, Beck and Jess And there is six
• 23:07
  Speaker 4: exclamation points. I have a money dilemma. I desperately want
• 23:11
  Speaker 4: to hear your thoughts on. I'm in my late twenties
• 23:13
  Speaker 4: and I recently started a new job after a few
• 23:15
  Speaker 4: years of bouncing between casual and contract roles.
• 23:18
  Speaker 6: Congratulations.
• 23:19
  Speaker 4: Well, filling out all of the paperwork, I realized I
• 23:21
  Speaker 4: actually have three different superannuation accounts from old employers. I
• 23:25
  Speaker 4: always hear Victoria mentioned that having multiple super accounts can
• 23:28
  Speaker 4: mean that you're paying extra fees, so I know it's
• 23:30
  Speaker 4: something that I probably should sort out. The problem is
• 23:33
  Speaker 4: I have no idea what I should actually be comparing
• 23:36
  Speaker 4: between each of the accounts before making any decisions, and
• 23:38
  Speaker 4: it feels really overwhelming, so much so that I have
• 23:40
  Speaker 4: done nothing.
• 23:41
  Speaker 5: Has anyone else been through this? What did you check? First?
• 23:45
  Speaker 5: Six question marks?
• 23:47
  Speaker 6: Love?
• 23:48
  Speaker 3: I'm feeling the enthusiasm and I'm loving it.
• 23:50
  Speaker 5: I am here.
• 23:51
  Speaker 4: Well that's why I had to read out the question
• 23:52
  Speaker 4: marks and the exclamation points, because I was like, this
• 23:55
  Speaker 4: even is help a sap?
• 23:57
  Speaker 3: Yeah?
• 23:58
  Speaker 5: Five exclamation points.
• 24:00
  Speaker 3: And we are here exclam so fair.
• 24:04
  Speaker 6: I think, like, I can't remember what I checked when
• 24:07
  Speaker 6: I consolidated. This definitely is not the way to go.
• 24:11
  Speaker 6: But I think I went with Vibe, you know, and.
• 24:13
  Speaker 5: Oh yes, yes, we should manage our finances based on Vibe.
• 24:18
  Speaker 3: So I went with host plus.
• 24:19
  Speaker 6: But it was Vibe but also like something about an
• 24:22
  Speaker 6: industry super fund I quite like, and maybe someone else
• 24:24
  Speaker 6: said that maybe that was you, Victoria.
• 24:25
  Speaker 5: No, no, that didn't It was not mean, not Victoria.
• 24:28
  Speaker 5: If you went with host plus, that wasn't me.
• 24:30
  Speaker 4: I don't like them, but I wouldn't have made a
• 24:32
  Speaker 4: product recommendation, and that's not who I'm with, So I
• 24:34
  Speaker 4: actually don't know where that would have come from.
• 24:36
  Speaker 6: Not host plus, industry. Sorry, that was my other smart friend.
• 24:39
  Speaker 6: Oh yeah, something about industry funds. Anyway, so I went
• 24:42
  Speaker 6: an industry fund and also went with host plus. But
• 24:45
  Speaker 6: I think then also I was like, I didn't really
• 24:47
  Speaker 6: look at fees, which is probably a bad idea. I
• 24:49
  Speaker 6: did look at the rate of return on some of
• 24:53
  Speaker 6: their but you know, they've got their like their ETFs.
• 24:57
  Speaker 6: I guess I want to say, there's like their funds,
• 24:59
  Speaker 6: their funds, you know, your high growth et cetera, et cetera.
• 25:02
  Speaker 6: And I guess like at that time, I didn't really
• 25:03
  Speaker 6: know you might just I was like, oh, this this
• 25:05
  Speaker 6: returns a lot, and I kind of joined based on
• 25:08
  Speaker 6: the returns of their funds and I'm happy with it.
• 25:12
  Speaker 3: So far, so good, so far, so good.
• 25:14
  Speaker 6: But I think, yeah, you can look at the insurances
• 25:16
  Speaker 6: that it comes with and the fees, and you know,
• 25:21
  Speaker 6: I'm definitely not this kind of person. But you could
• 25:24
  Speaker 6: also call up and have chance to a few places
• 25:27
  Speaker 6: if you wanted to. Yeah, I probably wouldn't do what
• 25:29
  Speaker 6: I did.
• 25:31
  Speaker 7: Yeah, we've all been there. Like when you start a
• 25:33
  Speaker 7: new job and they say do you want to use
• 25:35
  Speaker 7: our super fund? You just tick the S box and
• 25:37
  Speaker 7: suddenly find yourself with five different super funds exactly.
• 25:40
  Speaker 3: There's a tool on the mygarvel Ato website.
• 25:44
  Speaker 5: It's on the Australian Taxation Office website. It's going to
• 25:46
  Speaker 5: be your super comparison to Yeah.
• 25:47
  Speaker 3: Ah, nope, not what I was going to say, but yes,
• 25:49
  Speaker 3: there is, are you going to say?
• 25:50
  Speaker 7: I think it is on the ASIA website. When you
• 25:52
  Speaker 7: log into your account that will check if you have
• 25:54
  Speaker 7: bolto yeah. Yeah, yeah, you haven't been keeping track of
• 25:58
  Speaker 7: all the details of everything. If you into your yeah,
• 26:01
  Speaker 7: your mygvel your eightier platform and you plug your information in,
• 26:04
  Speaker 7: it will run a search for you and list all
• 26:06
  Speaker 7: of the superannuation funds that exist under your name. Yes,
• 26:09
  Speaker 7: now there is a button there that says consolidate all.
• 26:12
  Speaker 7: We would typically recommend you don't do that until you've
• 26:15
  Speaker 7: done your research, looked at your fees, looked at your
• 26:18
  Speaker 7: insurances is a big one. We talk about a lot,
• 26:20
  Speaker 7: because you know, if I got put in a super
• 26:22
  Speaker 7: fund when I was eighteen years old and I just
• 26:25
  Speaker 7: got the you know, the young, healthy, great insurances.
• 26:29
  Speaker 5: The default stuff that you can't just get anymore, Yeah.
• 26:32
  Speaker 7: Probably a lot more appealing than what they would give
• 26:34
  Speaker 7: to me now at the ripe old age.
• 26:35
  Speaker 3: Of thirty two.
• 26:36
  Speaker 4: No, but I used to give insurance away in a
• 26:38
  Speaker 4: cereal box basically. Yeah, and now you've got to jump
• 26:41
  Speaker 4: through a million hoops. Yeah.
• 26:43
  Speaker 7: So I would look at what is covered in your
• 26:45
  Speaker 7: existing funds because that may play a factor. If there's something,
• 26:48
  Speaker 7: as Victoria said, that exists there now that you wouldn't
• 26:52
  Speaker 7: be able to get absolutely to move funds, it might
• 26:54
  Speaker 7: be worth preserving that. So there's lots of things to
• 26:57
  Speaker 7: look at. But it's not as hard or as over
• 27:00
  Speaker 7: well as you think. I will say, like, don't let
• 27:02
  Speaker 7: it sit on your to do list because it seems
• 27:04
  Speaker 7: really hard. It's truly very easy.
• 27:07
  Speaker 4: Also, do you want to know a little fact? Absolutely,
• 27:10
  Speaker 4: I still have and will continue to have two superannuation funds.
• 27:13
  Speaker 3: There you go, because one of them has good insurance.
• 27:15
  Speaker 4: One of them has insurance in it, and I've left
• 27:17
  Speaker 4: enough money in that super fund to maintain my insurance
• 27:21
  Speaker 4: and like pay the insurance fees, I don't contribute to it.
• 27:24
  Speaker 4: And then I have the superannuation fund that aligns with
• 27:28
  Speaker 4: my values and my goals and I'm really happy with
• 27:30
  Speaker 4: and that's the one I contribute to.
• 27:31
  Speaker 5: But I didn't want to get rid of my insurance
• 27:33
  Speaker 5: is in my first super.
• 27:34
  Speaker 4: Yes, so we're always like, don't pay multiple fees on
• 27:37
  Speaker 4: multiple super accounts. And by lowering the amount of money
• 27:40
  Speaker 4: that I had in there, because I'm only paying fees
• 27:42
  Speaker 4: based on how much like funds I have in there,
• 27:45
  Speaker 4: and I get to keep my insurances. That actually works
• 27:47
  Speaker 4: out really well, but that's not my main like super fund.
• 27:51
  Speaker 7: Yeah, and if you're not sure what to do, I
• 27:52
  Speaker 7: should say as well, because I actually had mine looked at.
• 27:55
  Speaker 7: When I did all of my insurances, I did it
• 27:57
  Speaker 7: with our friend Phil from Skywealth. You know we love
• 27:59
  Speaker 7: his wonderful Yeah, Piel did all of that for me just.
• 28:04
  Speaker 3: You would have done it yourself.
• 28:05
  Speaker 4: But so I did, like do it, but when I
• 28:08
  Speaker 4: moved over to Phil, because like, honestly, the plumber always
• 28:11
  Speaker 4: has a leaky tap. So I just think that even
• 28:14
  Speaker 4: though I can do it myself. Having a professional manager,
• 28:17
  Speaker 4: I was like, pop off, phel you do everything. He
• 28:19
  Speaker 4: manages everything for me, and I am much happier knowing
• 28:22
  Speaker 4: that his finger is always on that pulse because mine
• 28:25
  Speaker 4: is gone slip.
• 28:26
  Speaker 1: Yeah.
• 28:27
  Speaker 7: So if you are thinking about doing your insurances anyway,
• 28:29
  Speaker 7: or if you want somebody to look at it, they
• 28:31
  Speaker 7: can do stuperanuation as well as what they did for me.
• 28:33
  Speaker 7: And so it was really handy because they kind of said,
• 28:35
  Speaker 7: this is what we would recommend for you, this is
• 28:37
  Speaker 7: why we would recommend it. You can absolutely do it yourself,
• 28:39
  Speaker 7: but if you're someone who does go, oh, I needed
• 28:42
  Speaker 7: experts opinion, it might be worth speaking to them. It's
• 28:45
  Speaker 7: a lot more affordable than you know, normal financials for
• 28:48
  Speaker 7: your bucks.
• 28:49
  Speaker 5: Absolutely.
• 28:49
  Speaker 4: And then also I'll go back to that tool I
• 28:52
  Speaker 4: accidentally plugged the Losso the one that you were talking about,
• 28:55
  Speaker 4: and that is the your super Comparison tool, which is
• 28:57
  Speaker 4: on the ATO website and it helps you compare super
• 29:01
  Speaker 4: funds based on their performance. And I think that this is,
• 29:04
  Speaker 4: from my perspective, one of the best comparison tools because
• 29:08
  Speaker 4: it is not product based. Now, I just googled it
• 29:11
  Speaker 4: because I was like, I wonder what comes up when
• 29:13
  Speaker 4: I google ATO super Comparison tool, because like, that's what
• 29:17
  Speaker 4: a lot of people are going to do. The first
• 29:19
  Speaker 4: few results are sponsored, and they are sponsored by products
• 29:24
  Speaker 4: adding those links. Don't click those links because they are
• 29:27
  Speaker 4: just going to show you either their product or their
• 29:31
  Speaker 4: comparison website which only has marketed super funds on there
• 29:36
  Speaker 4: that are paying to be on those comparison websites. True,
• 29:39
  Speaker 4: scroll down past the sponsored results, and then you're going
• 29:42
  Speaker 4: to see THEATO dot gov dot AU website and have
• 29:45
  Speaker 4: a look at that tool because from my perspective, it's
• 29:48
  Speaker 4: not going to be biased, not even from my perspective,
• 29:50
  Speaker 4: just it's a fact it's not going to be biased
• 29:53
  Speaker 4: because it's just run by the government. And the cool
• 29:56
  Speaker 4: thing about your super Comparison tool is you can select
• 29:59
  Speaker 4: up to four different products to comparing contrast on the
• 30:02
  Speaker 4: one page and it'll like kind of just do apples
• 30:04
  Speaker 4: with apples instead of like comparing apples with oranges, which
• 30:08
  Speaker 4: can happen. And when I say that, I mean one
• 30:10
  Speaker 4: super fund on their website might say, oh, yes, the
• 30:13
  Speaker 4: fees are x amount, and on another website it might say, oh,
• 30:18
  Speaker 4: the fees on this different super funder why and you're
• 30:20
  Speaker 4: a well, why is much less? But the first website
• 30:23
  Speaker 4: had included their insurance fees and all of their fees,
• 30:26
  Speaker 4: whereas the second website was only comparing one fee, So
• 30:29
  Speaker 4: like you're not getting the full picture. So anyway, your
• 30:32
  Speaker 4: super comparison tool works. You can also, and this is
• 30:35
  Speaker 4: where Jess's tip and my tip actually linked together, you
• 30:38
  Speaker 4: can log in to your MyGov website on this website
• 30:43
  Speaker 4: and it will prefill your supervalance for tailored results very clear.
• 30:48
  Speaker 4: And you can access your super accounts all in one
• 30:50
  Speaker 4: place through the MyGov website, and you can also transfer
• 30:52
  Speaker 4: your super and consolidate your super or change funds through
• 30:55
  Speaker 4: that in a very very easy way. And obviously I'm
• 30:59
  Speaker 4: not going to recommend it without looking at your insurances
• 31:01
  Speaker 4: and stuff, but that's a really easy way to do it.
• 31:03
  Speaker 4: And then the ATO also issue the top five performing
• 31:08
  Speaker 4: funds each year and then the bottom five performing funds
• 31:11
  Speaker 4: each year, so like I would every year if I'm
• 31:14
  Speaker 4: doing it myself, check the bottom five performing funds and
• 31:17
  Speaker 4: make sure mine isn't one of those.
• 31:18
  Speaker 5: Yeah, And then if you've really.
• 31:20
  Speaker 4: Got analysis paralysis, have a look at what most people
• 31:23
  Speaker 4: are looking at go all right, well, I know that
• 31:25
  Speaker 4: the top five funds of this, I'm going to start
• 31:28
  Speaker 4: there and do my research based on that. Cool, which
• 31:30
  Speaker 4: kind of helps the other thing I would say, and
• 31:33
  Speaker 4: I wrote this in my very first book, and I've
• 31:35
  Speaker 4: said this for a really long time, don't base your
• 31:39
  Speaker 4: decision just on fees.
• 31:42
  Speaker 5: Yes, pay peanuts, get monkeys.
• 31:45
  Speaker 4: I would prefer to pay a moderate fee and get
• 31:48
  Speaker 4: really good performance and really good benefits, then try and
• 31:50
  Speaker 4: get the cheapest super fund that ultimately impacts my returns
• 31:54
  Speaker 4: over the long term.
• 31:55
  Speaker 7: Yeah, especially a lot of the instability in the superworld
• 31:58
  Speaker 7: as well. We've seen a lot of fun close over
• 32:00
  Speaker 7: the years, so it's again not the right choice to make.
• 32:04
  Speaker 7: But looking at really established funds might be something that
• 32:07
  Speaker 7: you take into consideration.
• 32:08
  Speaker 3: Yeah.
• 32:08
  Speaker 4: True, yeah, one hundred percent. And it's going to look
• 32:11
  Speaker 4: different for everybody, But that, my friend, is where I.
• 32:13
  Speaker 3: Would start, right everybody else say.
• 32:15
  Speaker 4: We obviously asked the community, and the first question I
• 32:18
  Speaker 4: wanted to know was have you ever discovered that you
• 32:20
  Speaker 4: had more than one super account?
• 32:22
  Speaker 5: This shocked me. Only fifty one percent of you said yeah.
• 32:26
  Speaker 7: Really right, Maybe some of you just don't know when
• 32:30
  Speaker 7: you all to go log into your ASIO accout today,
• 32:33
  Speaker 7: had check.
• 32:34
  Speaker 3: And report back true. Maybe not yet discovered exactly.
• 32:37
  Speaker 4: Then I asked, if you were comparing super funds, what's
• 32:40
  Speaker 4: the first thing you would look at?
• 32:42
  Speaker 5: My queens, my queens, jess, guess what what? Forty two
• 32:45
  Speaker 5: percent said investment, performance, insurance and options.
• 32:49
  Speaker 3: Right, we love this.
• 32:51
  Speaker 4: Thirty percent said fees, which important but not the most important.
• 32:55
  Speaker 5: Like, again, that's my personal opinion.
• 32:57
  Speaker 4: Maybe fees are the most important for you, in which case,
• 32:59
  Speaker 4: keep going on, and twenty six percent of you you said,
• 33:02
  Speaker 4: I have no idea.
• 33:04
  Speaker 5: Honestly, fair enough, Yeah, transparent queen.
• 33:06
  Speaker 7: Yeah.
• 33:07
  Speaker 4: We then asked have you ever delayed sorting out your
• 33:09
  Speaker 4: super because it felt overwhelming? At sixty two percent of
• 33:12
  Speaker 4: you said, heck, yes, I have. We then asked my friends,
• 33:15
  Speaker 4: what is your two cents? A lot of people said ethics,
• 33:19
  Speaker 4: It's really important for me to weigh those up, and
• 33:22
  Speaker 4: then I look at performance options and fees pop off.
• 33:26
  Speaker 4: Someone else said, when my GUV came about it made
• 33:28
  Speaker 4: it way easier to roll over and review things before
• 33:31
  Speaker 4: that not so much. So maybe if you haven't experienced
• 33:33
  Speaker 4: it recently, go back and look.
• 33:35
  Speaker 3: Yep.
• 33:36
  Speaker 5: Another person said, it's super easy to consolidate super in
• 33:39
  Speaker 5: my GUV.
• 33:39
  Speaker 3: There you go a surprise.
• 33:41
  Speaker 5: Another person said.
• 33:42
  Speaker 4: I actually used AI to help me evaluate fees, performance
• 33:45
  Speaker 4: and insurances to simplify my understanding.
• 33:48
  Speaker 3: Just remember sometimes AI gets it wrong.
• 33:50
  Speaker 7: Yes.
• 33:51
  Speaker 3: I was about to say, have it started sources please
• 33:53
  Speaker 3: and cross check them.
• 33:54
  Speaker 4: Yes, yeah, and don't rely on it for recommendations. I
• 33:57
  Speaker 4: am seeing so many people go I just got chat
• 34:01
  Speaker 4: GPT to do a financial plan, and I'm.
• 34:03
  Speaker 5: Like, oh, pop up. Like at the start, when I
• 34:05
  Speaker 5: first started hearing this, I was.
• 34:06
  Speaker 3: Like, that's genius.
• 34:08
  Speaker 5: Why didn't I think of that?
• 34:10
  Speaker 4: And then I started looking at the financial plans that
• 34:12
  Speaker 4: you guys are sending me because you're like, oh, hey,
• 34:14
  Speaker 4: I did my financial plan via you know, Chat GPT,
• 34:17
  Speaker 4: and I can't give you advice. But if we're having
• 34:19
  Speaker 4: a YAP and you're like, i'll send it to you,
• 34:21
  Speaker 4: I'm like, yeah, i'll have a look.
• 34:22
  Speaker 5: Thanks.
• 34:23
  Speaker 4: I'm like, oh, this is not good, Like I'm really sorry,
• 34:27
  Speaker 4: but like this actually is not good advice. In fact,
• 34:31
  Speaker 4: some of them that I've seen the tax was completely out,
• 34:34
  Speaker 4: completely incorrect. I've seen ones recommend funds just because they
• 34:38
  Speaker 4: came up as like the first options on Google and
• 34:41
  Speaker 4: platforms like chat GPT and I don't know if everybody
• 34:44
  Speaker 4: knows this, but chat GBT just sources all the information
• 34:47
  Speaker 4: from Google.
• 34:48
  Speaker 5: Yeah, amazing.
• 34:49
  Speaker 4: And sometimes when you Google something, the first web pages
• 34:52
  Speaker 4: that come up are Reddit forums. It then uses the
• 34:55
  Speaker 4: opinions that are shared on Reddit forums as gospel and
• 34:59
  Speaker 4: then uses those as facts that it then feeds back
• 35:01
  Speaker 4: to you which are completely inaccurate. Oh okay, so let's
• 35:05
  Speaker 4: be really careful when using AI. I think is a
• 35:07
  Speaker 4: great research tool, but it's just a step in the process.
• 35:10
  Speaker 5: It is not the process.
• 35:12
  Speaker 4: Someone else said, use an advisor. Then they said, use
• 35:16
  Speaker 4: an advisor. I spoke to Phil from sky well out.
• 35:21
  Speaker 4: Another person said, would love to know how you can
• 35:23
  Speaker 4: build super, how you can invest your super further? And
• 35:26
  Speaker 4: I think that's a great question, my friend. And why
• 35:28
  Speaker 4: we have a whole playlist on Spotify about helping your superannuation.
• 35:33
  Speaker 4: Another person said, research, research, research. You don't have to
• 35:36
  Speaker 4: make the decision in a day, which I thought was
• 35:39
  Speaker 4: really cool.
• 35:40
  Speaker 3: Yeah, because like.
• 35:40
  Speaker 4: I think a lot of us go this afternoon, I'm
• 35:42
  Speaker 4: going to sit down and do my super fund. Like,
• 35:45
  Speaker 4: why don't you sit down and just like, have a
• 35:47
  Speaker 4: look at a few different super fund websites and start
• 35:49
  Speaker 4: the thought process instead. Another person said I would always
• 35:53
  Speaker 4: look at performance, then weigh up the cost, then check cups.
• 35:56
  Speaker 5: To my happiness, I always google the fund to see review.
• 36:00
  Speaker 3: Yeah it's a good call.
• 36:01
  Speaker 5: That's a good call.
• 36:02
  Speaker 4: But also again, I feel like I'm caveating everything today. Beck,
• 36:06
  Speaker 4: When have you ever left a review on something on Google?
• 36:10
  Speaker 4: Only when you're really really happy or really really unhappy,
• 36:12
  Speaker 4: run true, not when you're like, yeah, it's a great
• 36:14
  Speaker 4: super fun.
• 36:15
  Speaker 5: I've got not much more to say because it did
• 36:17
  Speaker 5: what it said it was going to do.
• 36:17
  Speaker 3: True, getting the extremes.
• 36:19
  Speaker 5: Yes, yeah, let's just be careful with reviews.
• 36:21
  Speaker 4: And then someone else said, please please please double check
• 36:25
  Speaker 4: the insurances inside your super before consoled dating.
• 36:28
  Speaker 5: If I've listened to enough, she's on the money. I
• 36:30
  Speaker 5: know this to be true.
• 36:32
  Speaker 4: Thinknas you Fred that my friend is where we're going
• 36:35
  Speaker 4: to leave it. And I mean, there's so many resources
• 36:37
  Speaker 4: out there. As I mentioned, there's a whole Spotify playlist
• 36:39
  Speaker 4: on Superannuation. We've done whole episodes on super we talk
• 36:43
  Speaker 4: about it all the time. But you're super comparison tool,
• 36:46
  Speaker 4: I think is a really great place to start because
• 36:48
  Speaker 4: it's run.
• 36:49
  Speaker 5: By the government.
• 36:50
  Speaker 4: It's not going to give you advice, but it's going
• 36:51
  Speaker 4: to help lead you down the garden path in the
• 36:53
  Speaker 4: nicest possible way. And like, sometimes we don't realize how
• 36:58
  Speaker 4: hard it is to do these things until we start
• 37:00
  Speaker 4: to get into the weeds of it, and that's where
• 37:02
  Speaker 4: we can rely on tools like that to help keep
• 37:04
  Speaker 4: things clear. All right, well, thank you for joining us
• 37:08
  Speaker 4: for this. Can I say supercharged session.
• 37:11
  Speaker 3: For one more in there?
• 37:12
  Speaker 1: Go on?
• 37:14
  Speaker 4: Thank you, guys. I really hope that this episode has
• 37:17
  Speaker 4: left you feeling inspired to revisit your investments and maybe
• 37:20
  Speaker 4: triple check whether you have lost.
• 37:22
  Speaker 5: Super lingering in there as well, and.
• 37:24
  Speaker 4: Please make sure that you're subscribed so that you never
• 37:26
  Speaker 4: miss an episode. And we'll be back next week bright
• 37:29
  Speaker 4: and early for a brand new Money Diary and then
• 37:31
  Speaker 4: some cheers, guys, and have a great weekend, my guys.
• 37:35
  Speaker 4: By the advice sheared on She's on the Money is
• 37:41
  Speaker 4: general in nature and does not consider your individual circumstances.
• 37:45
  Speaker 4: She's on the Money exists purely for educational purposes and
• 37:48
  Speaker 4: should not be relied upon to make an investment or
• 37:51
  Speaker 4: financial decision. If you do choose to buy a financial product,
• 37:55
  Speaker 4: read the PDS TMD and obtain appropriate financial.
• 37:58
  Speaker 5: Advice tailored towards your needs.
• 38:00
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