Latest / She's On The Money / What Will Make You Richer: Money in Your Offset Account or the Sharemarket? Plus, How To Handle Family Estate Disputes

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What Will Make You Richer: Money in Your Offset Account or the Sharemarket? Plus, How To Handle Family Estate Disputes · She's On The Money

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Speaker 1: My name's Tasha Bamblet. I'm a proud First Nations woman
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Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya
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Speaker 1: nianar Kaka yah y and beIN Ahaka nian our gay
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Speaker 1: In Mbini yakarum Jar, Dominyamka domaga Ithawaka woman, damon imlan
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Speaker 1: Bumba ban Gadabomba in and now in wakah ghan On
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Speaker 1: yak rum Jar water Nadaa. Hello, beautiful friends, we gather
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Speaker 1: on the lands of the Aboriginal people. We thank acknowledge
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Speaker 1: and respect the Aberiginal people's land that we're gathering on today.
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Speaker 1: Take pleasure in all the land and respect all that
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Speaker 1: you see. She's on the Money podcast acknowledges culture, country,
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Speaker 1: community and connections, bringing you the tools, knowledge and resources
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Speaker 1: for you to thrive.
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Speaker 2: She's on the Money. She's on the Money.
1:08
Speaker 3: Hello and welcome to She's on the Money, the podcast
1:11
Speaker 3: that makes personal finance fun especially get this on Fridays. WHOA,
1:16
Speaker 3: we didn't see that coming. It's our favorite day of
1:18
Speaker 3: the week because we get our little team together and
1:20
Speaker 3: we celebrate you, our incredible She's on the Money Community
1:24
Speaker 3: Muster GRICI. She's here as always sharing her money wins
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Speaker 3: and confessions. Beck is away, which is fine, but don't worry.
1:31
Speaker 3: I have hustled up her broke tips to make sure
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Speaker 3: that I'm still sharing them on the show. For you guys,
1:36
Speaker 3: we're going to be helping to answer money dilemma. That's
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Speaker 3: all about whether your money is better off in your
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Speaker 3: offset or in your shares account. And something you slid
1:45
Speaker 3: into our dams about what do you do when you
1:47
Speaker 3: think someone is lying about a parent's will? Ooh, that's spicy. Yeah,
1:55
Speaker 3: how sometimes we're like, oh, the questions are spicy. No,
1:57
Speaker 3: this week they're extra spicy because like awkward. Anyway, before
2:02
Speaker 3: we get there, would you like to see a five
2:05
Speaker 3: star review? Oh? Of course I would. This one is
2:08
Speaker 3: from Lizzie and she says, I really enjoy the show's vibe.
2:12
Speaker 3: That's so cute. Longtime listener of the show, and I've
2:15
Speaker 3: been really enjoying the vibe of the three girls since
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Speaker 3: Beck came along. It feels like the show has found
2:21
Speaker 3: its stride with three co hosts, and I'm really enjoying
2:24
Speaker 3: the format. I love hearing Beck's perspective. She and Victoria
2:28
Speaker 3: have great energy together, and I really like how Beck
2:30
Speaker 3: represents the everyday person who might not have as much
2:33
Speaker 3: financial knowledge. Really enjoyed the vibe of Friday episodes as well,
2:37
Speaker 3: and hearing from the Three Ladies from She's on the Money,
2:40
Speaker 3: keep up the great work, and please do some more
2:42
Speaker 3: wedding and bridesmaid travel content. Please. Oh we'll far that
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Speaker 3: away for Leanna. We will. I feel like we need
2:48
Speaker 3: to bring back the wedding era, but like, I'm not
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Speaker 3: going to have another wedding. I feel like so many
2:52
Speaker 3: things in the industry have been changing, and like, what
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Speaker 3: is a budget wedding anymore? It feels like it doesn't exist.
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Speaker 3: Almost one of my friends is planning a wedding at
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Speaker 3: the moment, and she I would say, she has a
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Speaker 3: hefty budget, right, so like I'm not going to name names,
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Speaker 3: but her budget's about eighty thousand dollars. Oh wow, I
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Speaker 3: think that's a lot of money. That's a lot of money.
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Speaker 3: And the vendors are calling her wedding budget. Really yeah,
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Speaker 3: So she's like coming back to me like when they said, oh,
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Speaker 3: they'll do the budget, I was like, Queen, we have
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Speaker 3: a free budget spreadsheet on my website. Even downloaded it
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Speaker 3: and emailed it to her From my own website to
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Speaker 3: be like to do this, and like, because I'm such
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Speaker 3: a money fanatic and I love her, I'm like helping
3:28
Speaker 3: along the way and thinking like, oh, well, this is
3:29
Speaker 3: what we paid. All these are the quotes that we
3:31
Speaker 3: got my quotes from like twenty twenty two. So whether
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Speaker 3: they are helpful or not, who knows, but it gives
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Speaker 3: you an idea. And like, anyway, she's showing me some
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Speaker 3: of the quotes that she's getting back, and like she's
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Speaker 3: sending off like, hey, we've got this venue, we want
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Speaker 3: some flowers, And like even the florist was like, oh,
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Speaker 3: well you're looking at it more of a budget spend. Wow,
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Speaker 3: what is is that?
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Speaker 4: Normal?
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Speaker 3: Mind boggling. I Like, don't get me wrong, I feel
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Speaker 3: like call a budget that shouldn't be offensive. No it's not.
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Speaker 3: But the way that their response as though they're too good.
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Speaker 3: They're like, oh, well you're sitting more as a budget client.
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Speaker 3: I'm like, eighty thousand dollars is so much money? Yeah,
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Speaker 3: and I mean that's not the floral's budget. But at
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Speaker 3: the same time, like, sorry, I'm giving you an amount,
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Speaker 3: which I think is actually the most reasonable way to
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Speaker 3: go about it, because like you could go and this
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Speaker 3: is just like so side noted, but you could go
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Speaker 3: and be like, well, I'm getting married, here's the venue.
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Speaker 3: Could you deck it out with flowers and tell me
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Speaker 3: what it will cost? And then they come back and go, well,
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Speaker 3: just that's going to be like fifteen thousand dollars and
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Speaker 3: you go, oh, well that's not in my budget. Yeah,
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Speaker 3: Like my friend is going to the vendors and saying, hey,
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Speaker 3: I have a budget of five thousand dollars for flowers,
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Speaker 3: could you tell me what you can do for that?
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Speaker 3: And I feel like that's really reasonable, like because then
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Speaker 3: you could say, well for that amount, we could xyz
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Speaker 3: ye or you might say, oh, we don't take on
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Speaker 3: clients at lab verbal. Okay, I still feel like that's
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Speaker 3: an examinant amount of money. But then also why make
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Speaker 3: comment I've heard.
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Speaker 5: The flowers are really expensive anecdotally anecdotally you also saw
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Speaker 5: my flowers invoice for my wedding. Yes, this is true,
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Speaker 5: and like I don't want people to compare themselves, but
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Speaker 5: like I spent a lot on flowers, and I would
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Speaker 5: I feel like so many times, like we're all going
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Speaker 5: on Pinterest and looking up our dream weddings and going well,
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Speaker 5: I've got an eighty thousand dollar wedding budget and that's massive,
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Speaker 5: don't get me wrong. But the weddings that you're seeing
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Speaker 5: on Pinterest are more than one hundred thousand dollars every
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Speaker 5: single time. Yeah, so we actually have to peg back
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Speaker 5: our expectations based on what the Pinterest reality is versus
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Speaker 5: in real life.
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Speaker 3: Absolutely, But anyway, that's a complete side note. Thank you
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Speaker 3: so much for that review, Lizzie. I love it. Also.
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Speaker 3: I love that she's like love Beck and we're like yep.
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Speaker 3: So she's not here today, Sorry about that. Sorry, she
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Speaker 3: will be back though. She's the people's printer. She absolutely is,
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Speaker 3: and I couldn't agree more. Anyway, it is time for
5:44
Speaker 3: my favorite part and we'll speed through this. But tomorrow,
5:46
Speaker 3: do not worry. I will make sure that I get
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Speaker 3: a full and comprehensive answer out of Jess. This is
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Speaker 3: the part of the show where you get to ask
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Speaker 3: us one question that you were dying to know. It
5:56
Speaker 3: can be about literally anything, and tomorrow this week has
5:58
Speaker 3: asked Jess, what is your dream holiday? Oh that's so hard.
6:03
Speaker 3: Do you want to go first? Yep? I already know
6:05
Speaker 3: I want to leave that hotel. I think it's in
6:07
Speaker 3: South Africa where the giraffes put their head through the window. Oh,
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Speaker 3: I would love you what I'm talking about? Yes, and
6:14
Speaker 3: you have breakfast and the giraffes are at the window. Yeah,
6:16
Speaker 3: it's a wildlife preserve. Yeah sure it's not dodgy. Yeah,
6:19
Speaker 3: it's like all of their animals have been rescued and
6:22
Speaker 3: really well looked after. But you can have breakfast with
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Speaker 3: a giraffe. Yeah, that would be Sorry, that's my dream
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Speaker 3: holiday and I want my kids to be old enough
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Speaker 3: to remember it, so like I can't have it right
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Speaker 3: now because like if I took Toddler's that would not
6:35
Speaker 3: be ideal. Then I going to remember. Sorry, you don't
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Speaker 3: deserve that experience yet.
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Speaker 5: For me, you need to be five plus years old
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Speaker 5: for it's got to become a core memory. What about you?
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Speaker 5: Are you coming with me? I would love to come
6:46
Speaker 5: with you. You guys know I love to travel there.
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Speaker 5: I couldn't even just tell you one dream holiday.
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Speaker 3: There are so so, so.
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Speaker 5: So many places I would love to go, like everywhere,
6:55
Speaker 5: from places close by like Thailand too.
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Speaker 3: I want to go to Antarctica. One day. When I
6:59
Speaker 3: was young, I had this little goal. Look, I was
7:01
Speaker 3: a huge guy.
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Speaker 5: I don't think I'll ever achieve it, but I was like,
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Speaker 5: I'd love to visit every country in the world.
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Speaker 3: Obviously very difficult to achieve.
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Speaker 5: Some of them you actually can't get too because there's
7:09
Speaker 5: they're remote, so maybe not very practical.
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Speaker 3: But I love going new places.
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Speaker 5: I would like to do more of Europe I haven't
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Speaker 5: done much, Like I love being outdoors. I'd love to
7:17
Speaker 5: do like the Swiss Alps and are beautiful. Yeah, like
7:22
Speaker 5: all of those really scenic, beautiful places. But honestly, anywhere
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Speaker 5: I would be happy to put me on a plane
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Speaker 5: and send me literally anywhere, and I would be over
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Speaker 5: the moon.
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Speaker 3: Is there like a middle ground tour? Right? So like
7:34
Speaker 3: when we were younger, Jess, I think that the like
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Speaker 3: top Deck and Kentiqui tours really appealed to us. Yeah,
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Speaker 3: we're like cool, single life, like it doesn't matter, happy
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Speaker 3: to be on a bus, happy to be in a hostel.
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Speaker 3: To do a few of those. Yeah, yeah, they're the same, same,
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Speaker 3: and I loved it at the time, but I cannot
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Speaker 3: imagine anything worse right now in this season of my life. Yeah,
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Speaker 3: and then on the flip side, there's like the older
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Speaker 3: you know, retiree tours above fifty fives. They go on
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Speaker 3: like the luxury tour buses and they stay at nice hotels.
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Speaker 3: Where's the middle ground? That's steady five year olds me
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Speaker 3: who love to travel, who love to travel but don't
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Speaker 3: want to do the like, happy to do budget accommodation,
8:11
Speaker 3: but probably not hostel. We don't want to be on
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Speaker 3: a bus without air conditioning. We have maybe a little
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Speaker 3: bit more of a budget, but want the tour curated
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Speaker 3: for them? That is a great.
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Speaker 5: Question, actually, because also that your continues and top decks
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Speaker 5: cap out at I think about thirty five.
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Speaker 3: So if you're like if you get lead out when
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Speaker 3: you're too.
8:30
Speaker 5: Old, yeah, like if you're slightly later in your thirties,
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Speaker 5: you like can't qualify for them anyway.
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Speaker 3: And I mean even if you could, as you, I
8:37
Speaker 3: don't want to be on them. I can't do the
8:39
Speaker 3: four days straight how over on a bus anymore? Like, Okay,
8:42
Speaker 3: where are the people who want to get up at
8:43
Speaker 3: six do the tour, go for the walks, you know,
8:46
Speaker 3: get a coffee and a croissant, and we've got coffee
8:48
Speaker 3: and croissant money this time. Yeah, and then we all
8:51
Speaker 3: want to be back to our hotel by eight because
8:53
Speaker 3: we all have really good books on our kindle that
8:55
Speaker 3: we want to read.
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Speaker 6: That.
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Speaker 3: Literally, if anyone's got any tiads, let me know. I mean,
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Speaker 3: I'm not going on the mum and I'm married, but
9:01
Speaker 3: like that, maybe I could get my husband to let
9:04
Speaker 3: me go for a week or two. We would go,
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Speaker 3: wouldn't we, Jess? Literally, that sounds so fun. Maybe you
9:07
Speaker 3: just go on a two row on our own. It'll
9:09
Speaker 3: be fine. We'll make eron tour. We also want to
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Speaker 3: make more friends. Yeah, that's true. Anyway, let's move on,
9:15
Speaker 3: miss Jess Gricci. What are your community money wins this week? Already?
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Speaker 3: This week?
9:19
Speaker 5: First they've got one from Suzanne who said she just
9:21
Speaker 5: fished house sitting for somebody and the owner gave her
9:24
Speaker 5: an extra payment because they thought she was under charging.
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Speaker 3: Oh how good is that? I feel like that never happens.
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Speaker 3: I think that's really sweet as you have it in
9:31
Speaker 3: your budget and you think that that's reasonable. What a
9:34
Speaker 3: way to make somebody's week. Absolutely.
9:37
Speaker 5: She also bought a bunch of peenies this morning and
9:39
Speaker 5: went to pick one up from the display. One of
9:41
Speaker 5: the stuff offered her a larger bunch at no extra cost,
9:43
Speaker 5: which I thought was also very sweet adore and I you.
9:45
Speaker 3: Do love a peenie.
9:47
Speaker 5: Next, I've got a money win from Kim, who said
9:49
Speaker 5: a bank erar worked in her favor. Their former mortgage
9:52
Speaker 5: linder had not executed their instructions to link a second
9:55
Speaker 5: offset and are making a remediation payment for interest for gone,
9:59
Speaker 5: so they've got a nice little check coming their way.
10:01
Speaker 5: Apparently the bank realized this on their own and sent
10:04
Speaker 5: an email out which they originally thought was a scam,
10:06
Speaker 5: but she verified it through the bank directly and it's
10:09
Speaker 5: all kosher.
10:09
Speaker 3: Oh love.
10:11
Speaker 5: Next, I've got a money win from Debby, who said
10:13
Speaker 5: she was overseas and had to change her flights. She
10:15
Speaker 5: talked to the agent and I assume was very kind
10:17
Speaker 5: about it, and the agent waived the change fees ah adoor,
10:21
Speaker 5: which is really really good. We've done it before. Someone
10:24
Speaker 5: at the Virgin Lounge helped us out and waved the
10:26
Speaker 5: fees for us once, and honestly, when you're so stressed
10:29
Speaker 5: and emotional, someone doing that for you makes such a
10:32
Speaker 5: big difference. Then I've got a money win from Mim,
10:36
Speaker 5: who said she's been patiently stalking Facebook marketplace the baby
10:39
Speaker 5: stuff in prep for her impending arrival, and has gotten
10:42
Speaker 5: some complete bargains. This week's score was a cot which
10:46
Speaker 5: retailed for four hundred and fifty dollars that she snagged
10:49
Speaker 5: for two hundred and fifty money wooding, the mattress, mattress protector,
10:54
Speaker 5: and several hundred dollars worth of a Dare's cot bedding.
10:56
Speaker 5: Oh stop her, she said, if you're bloody, don't mind.
10:59
Speaker 5: And I say, good, you miminously.
11:02
Speaker 3: And kids don't use it. Like, don't get me wrong, Yes,
11:05
Speaker 3: you want nice quality stuff. And I did this with
11:08
Speaker 3: my first baby, where I was like, oh, I'll buy
11:10
Speaker 3: some stuff or marketplace because like I was trying to
11:12
Speaker 3: just make sure that it was being reasonable with the
11:14
Speaker 3: purchases I'm making. But then you're like, well I want
11:17
Speaker 3: them to be brand new. Sorry. How many cock sheets
11:19
Speaker 3: did I buy and I haven't used?
11:21
Speaker 1: Yeah?
11:21
Speaker 3: Like how many onesies did I buy? That then ultimately
11:24
Speaker 3: got either one use or no uses because they grow
11:27
Speaker 3: so quickly. You can find bundles online pop off queen
11:31
Speaker 3: and you know what, and probably sell it again for
11:33
Speaker 3: what you paid for it.
11:35
Speaker 5: We love it a little circular economy moment. And then
11:38
Speaker 5: lastly this week. I've got a money win from Wonder,
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Speaker 5: who said she realized she was regularly buying a sugar
11:44
Speaker 5: free drink from vending machines, spending two dollars six feet
11:46
Speaker 5: a time. Checked the cost of buying a carton of
11:49
Speaker 5: cans at the supermarket and it's twenty one dollars for
11:51
Speaker 5: twenty four cans. She said she now just needs to
11:53
Speaker 5: figure out a way to defeat her ADHD brain to
11:56
Speaker 5: ensure she can take the cans to work and she'll
11:58
Speaker 5: be coming out way ahead.
12:00
Speaker 3: Adore, adore, And I feel like that's such a smart
12:03
Speaker 3: like swap. You're still getting your sweet tree. Yes, you're
12:06
Speaker 3: just being a little bit smarter about it. And maybe
12:08
Speaker 3: keep a stash at work, because there's no way I'd
12:10
Speaker 3: remember every single day to bring my sweet treat. Yeah,
12:12
Speaker 3: claims the room in the work freedge if you can, Yeah,
12:14
Speaker 3: or like even keep a couple in the bottom of
12:16
Speaker 3: your drawer so that you can like pop them in
12:18
Speaker 3: the fridge or the like the freezer for an hour
12:20
Speaker 3: before you have it. Yeah, I don't know. Would you
12:22
Speaker 3: like bex broke tips? I hope I can do them justice.
12:25
Speaker 5: Oh, of course, you need to bring the appropriate amount
12:27
Speaker 5: of whimsy if possible.
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Speaker 3: All Right, I'm trying. I'm trying to channel my inner
12:30
Speaker 3: cool girl. I fear I will never be as cool
12:33
Speaker 3: as beck though, so please just just pretend for a
12:36
Speaker 3: hot second, give me the benefit of the doubt, all right.
12:39
Speaker 3: First one, this comes from her friend, and I say
12:41
Speaker 3: friend just because they slid into her dams Anita. Everyone
12:44
Speaker 3: at work was throwing their ten scent cans in the bin,
12:47
Speaker 3: so I made a ten cent can box and I
12:50
Speaker 3: collected all my coworkers' cans too. That's so clever.
12:53
Speaker 5: I said before our old office that we should do
12:55
Speaker 5: the same, because I always saw cans in the recycling
12:57
Speaker 5: bin and I was like, that's free ten censors.
13:00
Speaker 3: Honestly, put a bin beside the bin. People will use it,
13:04
Speaker 3: take it home. Why not make the system work for you.
13:07
Speaker 3: You don't have to work for the system, all right.
13:09
Speaker 3: Next person who slid into Becks DMS this week was
13:12
Speaker 3: a lessier, and she said, instead of paying a dollar
13:14
Speaker 3: thirty to have one teaspoon of sour cream added to
13:17
Speaker 3: your gig order, stop by Audi and get yourself a
13:21
Speaker 3: three dollar small tub to use for the next ten meals.
13:23
Speaker 3: I mean, the story tracks I can't keep that in
13:26
Speaker 3: the center console of my Carlo, Babe, that is the
13:28
Speaker 3: only problem. Yeah, I feel like one of the things
13:32
Speaker 3: that I did the other day, and this wasn't at gig.
13:34
Speaker 3: This was at Salsers, and I love a Salcer's burrito bowl.
13:38
Speaker 3: I went for the other burrito bowl that had the
13:41
Speaker 3: guoc and then removed a couple of things and it
13:44
Speaker 3: ended up being cheaper than ordering the more simple bowl
13:47
Speaker 3: and adding Guok. Oh, that's a good hack. I don't
13:50
Speaker 3: know if it was a good hack, but like the
13:51
Speaker 3: girl was probably like, why don't you just order the
13:54
Speaker 3: other one? And I'm thinking, can you not see the savings, bab,
13:57
Speaker 3: It's it cheaper exactly anyway? And so then Beck said
14:01
Speaker 3: thee I need you to tell everybody stop buying individual
14:04
Speaker 3: chicken pieces and learn how to break down a whole
14:06
Speaker 3: chicken if you're able to. It's about nine dollars at
14:09
Speaker 3: the supermarket for a two kilogram chicken, all the same
14:14
Speaker 3: for two pieces. If you don't like cutting it down,
14:17
Speaker 3: roast a whole one and then strip it after it's
14:19
Speaker 3: been cooked.
14:20
Speaker 5: That actually is a great point now that I'm thinking
14:23
Speaker 5: about it, because you do pay a lot for like
14:24
Speaker 5: a two pack of chicken breast.
14:26
Speaker 3: One hundred percent, and I feel like you can just
14:29
Speaker 3: embrace You're in a I don't know what is it
14:32
Speaker 3: like wish, homestead, cottage, core vibe buying a whole chicken. Sorry,
14:37
Speaker 3: you get two full chicken breasts, two chicken tenders, two
14:41
Speaker 3: chicken drumsticks, two chicken wings. Sorry, that's like a number
14:44
Speaker 3: of different meals. Absolutely, and you get the skim, which
14:47
Speaker 3: is the best bit. Also, if you want to be
14:49
Speaker 3: a little bit more sneaky, I think a whole roast
14:51
Speaker 3: chicken is twelve dollars or so threty cooked for you
14:54
Speaker 3: roast chicken or shoen it all up, use it in
14:56
Speaker 3: your meals. Yeah, genius. Also find out in your supermarket
15:01
Speaker 3: marks things down and then go get your five dollar chicken.
15:04
Speaker 3: Hop it in a fridge. She's good for a few days.
15:06
Speaker 3: All right, let's go to a break because I'd really
15:08
Speaker 3: like chicken. But after the break, we're gonna have a
15:12
Speaker 3: chat about whether it's better to put cash into your
15:14
Speaker 3: offset or into your shares. And then we are also
15:17
Speaker 3: chatting about something you slid into our DMS with. What
15:19
Speaker 3: do you do when you think someone is lying about
15:21
Speaker 3: your parents' will. Oh my gosh, Spicy, don't go anywhere.
15:29
Speaker 3: Welcome back, everybody. Let's take a listen to this week's
15:31
Speaker 3: money dilemma.
15:34
Speaker 4: Hi, there, have you got a money dilemma you just
15:36
Speaker 4: can't solve? The She's on the Money team is here
15:39
Speaker 4: to help. Every week we tackle your dilemmas, both big
15:42
Speaker 4: and small, to answer your most burning money, career and
15:45
Speaker 4: life questions. To get involved, simply head to our website
15:48
Speaker 4: and leave us a short voice recording and you might
15:50
Speaker 4: just find yourself on the show. Now, let's take a
15:53
Speaker 4: listen to this week's money dilemma.
15:57
Speaker 6: Hi, She's on the Money. Thank you so much for
15:59
Speaker 6: all of your episodes so far. I feel so much
16:02
Speaker 6: more empowered around money. Thanks for listening to you guys.
16:04
Speaker 6: It's such an accessible information port. I guess I just
16:07
Speaker 6: have a question about shares.
16:09
Speaker 3: So I have a.
16:09
Speaker 6: Mortgage that is about eight hundred and fifty thousand dollars,
16:13
Speaker 6: and we have an offset account which is about eighty
16:14
Speaker 6: thousand dollars, and I don't know whether it's worth taking
16:18
Speaker 6: some money out of that offset account to buy shares.
16:20
Speaker 6: I'm quite risk averse in nature, so shar is kind
16:23
Speaker 6: of scammy but I also like want to do what's
16:26
Speaker 6: best for us financially for sort of long term wealth,
16:29
Speaker 6: So I don't know if it's better to just put
16:31
Speaker 6: a portion of that into shares or just keep it
16:33
Speaker 6: all in the offset account.
16:34
Speaker 3: Thank you so much. Oh my gosh, do you sound
16:36
Speaker 3: so happy and joyful and we're talking about money. When
16:40
Speaker 3: did we think those two things will be married together? Literally? Never?
16:43
Speaker 3: That's a great question. All right, Jess, you've got a mortgage,
16:46
Speaker 3: ha ha, tell me shares or mortgage?
16:50
Speaker 5: Well right now, because we're in the process of the build,
16:52
Speaker 5: I'm not paying like a full mortgage, so I pretend yes,
16:57
Speaker 5: okay for me, I put my emergency fund and like
17:00
Speaker 5: access funds into my offsets, so like any bulk money,
17:04
Speaker 5: money that I might need quick access to, and then
17:07
Speaker 5: I have a set amount that I invest every month.
17:09
Speaker 5: If I was our listener and I had eighty thousand
17:11
Speaker 5: sitting in my offset, I would be comparing, as I
17:14
Speaker 5: always say.
17:14
Speaker 3: Compare what your mortgage rate is.
17:16
Speaker 5: Whatever your rate is, have a look at that, have
17:18
Speaker 5: a look at how much you're saving by having your
17:20
Speaker 5: money in the offset account. Cross reference that with what
17:24
Speaker 5: you could potentially be earning in a share market. Obviously,
17:27
Speaker 5: you said you're very risk adverse, so keep in mind
17:29
Speaker 5: that you are taking on risk with the share market.
17:32
Speaker 5: We know the average rate of return over VD. You
17:35
Speaker 5: do the thing, you're so much better than me.
17:37
Speaker 3: No, no, no, It's one of those things where it's
17:39
Speaker 3: up to you and it's up to your personal circumstances.
17:42
Speaker 3: But I can't give you advice. What I can do
17:44
Speaker 3: is explain what I do. So I have a mortgage,
17:47
Speaker 3: I also have shares, and I have worked out that
17:51
Speaker 3: my mortgage is sitting just above four percent on average
17:55
Speaker 3: over the last you know, however long, it's performing at
17:57
Speaker 3: more than eleven percent. So if I had a and
18:00
Speaker 3: I wanted to make it work as hard as I
18:02
Speaker 3: did for it, the best place for it in my
18:05
Speaker 3: personal circumstances is sitting in a share account. People will
18:10
Speaker 3: counter that and say, no, I want to smash off
18:12
Speaker 3: my debt really quickly, Victoria and get rid of that
18:14
Speaker 3: because I don't want to have that, and then I'll
18:16
Speaker 3: aggressively invest. For me, that strategy doesn't work because I
18:20
Speaker 3: would prefer to have my debt literally until the day
18:24
Speaker 3: I retire and hold more debt for longer while I
18:27
Speaker 3: have another asset that's actually worth way more so that
18:31
Speaker 3: when I retire, I retire with no debt and a
18:33
Speaker 3: big share portfolio. Because we know that the most important
18:37
Speaker 3: thing for your money is time in the market. So
18:40
Speaker 3: like a dollar today invested is worth to me a
18:43
Speaker 3: lot more than a dollar invested in twenty years once
18:46
Speaker 3: my mortgage is gone, because that's twenty years that dollar
18:49
Speaker 3: hasn't had in the market to work. So for me,
18:51
Speaker 3: that works out. On the flip side, you need to
18:54
Speaker 3: work out what's of value to you if you are
18:57
Speaker 3: a very high marginal time tax rates. So like you
19:00
Speaker 3: earn a lot of money and you know you're paying
19:03
Speaker 3: like almost half of your income to the tax man.
19:06
Speaker 3: One of the benefits of an offset account is it
19:09
Speaker 3: offsets the interest that is payable, so there's no tax
19:14
Speaker 3: there because you're only saving money. So yes, you're offsetting
19:18
Speaker 3: four and a half percent or five percent or whatever
19:20
Speaker 3: your mortgage is today, but you also aren't getting charged
19:24
Speaker 3: for that privilege. Whereas if I make five percent in
19:28
Speaker 3: the share market, I'm going to be taxed on that income. YEA,
19:32
Speaker 3: to me, is that bad? No? Because I'm actually still
19:36
Speaker 3: taking into consideration tax I'm still ahead in my share portfolio.
19:41
Speaker 3: So for me personally, you know, we have money in
19:44
Speaker 3: our offset. My husband and I have a number of offsets.
19:46
Speaker 3: We have our cash hub, so both of our incomes
19:50
Speaker 3: go into an offset account together and that's where all
19:53
Speaker 3: of our money just sits for the interrom like you know,
19:56
Speaker 3: our grocery money and stuff that we haven't pre allocated.
20:00
Speaker 3: Then have another offset account, which is a savings account,
20:03
Speaker 3: which is just like savings for things like if we're
20:05
Speaker 3: going on a holiday, or if we're making family plans
20:08
Speaker 3: or something like, we can allocate stuff to their. We've
20:10
Speaker 3: got our emergency fund, which is another offset account because
20:13
Speaker 3: you should never ever ever invest your emergency fund, no
20:16
Speaker 3: matter how tempting. So that cash is sitting there offsetting
20:18
Speaker 3: our mortgage. And then both of our food, fuel and
20:21
Speaker 3: fun accounts, which I've spoken about before, and if you've
20:23
Speaker 3: done the Money masterclass, you know what I'm talking about.
20:25
Speaker 3: Both of our food, fuel, and fun accounts are also
20:28
Speaker 3: offset accounts that we can spend from our will like
20:31
Speaker 3: however we want. So the money that we have is
20:35
Speaker 3: absolutely or offsetting our mortgage because like your dollars should
20:39
Speaker 3: be working for you, or that's how I see it.
20:41
Speaker 5: Yeah.
20:41
Speaker 3: But then out of that cash hub that I was
20:43
Speaker 3: telling you about, we have a direct debit that goes
20:46
Speaker 3: into my investment account. And so every single time that
20:49
Speaker 3: we get paid, everything filters in. Our emergency fund gets
20:53
Speaker 3: topped up if it needs to, our savings get topped up.
20:55
Speaker 3: We transfer our money to our food fuel and fund,
20:57
Speaker 3: and we also transfer our money out to our investing platform.
21:01
Speaker 3: So for me, that works the best, and it means
21:04
Speaker 3: that every dollar is working really hard. But in the
21:07
Speaker 3: long term, I'm better off than smashing down the mortgage
21:10
Speaker 3: as much as possible, even though I don't really like
21:13
Speaker 3: looking at my mortgage. I seek yeah, and I understand
21:17
Speaker 3: as well.
21:18
Speaker 5: When you look at the amount of money you pay
21:21
Speaker 5: over the term of your mortgage, like I know that
21:23
Speaker 5: you go, oh, well, my mortgage is for seven hundred thousand,
21:26
Speaker 5: but then over the court of like the mortgage, I
21:28
Speaker 5: pay one million. Yeah, correct, Like I totally get that that.
21:33
Speaker 5: Psychologically you look at that and go, well, I want
21:36
Speaker 5: to pay it down. I don't want to pay that,
21:37
Speaker 5: And that is also okay if that's like what is
21:40
Speaker 5: most in line with your values and your risk profile,
21:42
Speaker 5: because you say.
21:43
Speaker 3: One hundred percent. Because sometimes the thing that you make
21:46
Speaker 3: the decision on isn't because the money is going to
21:48
Speaker 3: be the most It's because it makes you feel most comfortable. Yeah,
21:50
Speaker 3: and that's worth considering too. It's yeah, no, absolutely, and
21:53
Speaker 3: if that makes you really comfy. But another way to
21:55
Speaker 3: put it is, Jesse, if you came into fifty thousand
21:57
Speaker 3: dollars today, Like, let's pretend you for a got your
22:00
Speaker 3: emergency funds sorted, and like you have a mortgage, and
22:03
Speaker 3: you also have an investing account, and we are just
22:05
Speaker 3: looking at purely, how does this fifty like you don't
22:08
Speaker 3: need it for anything? Ye, Like you know, I'm not
22:10
Speaker 3: saying what would you spend it on. It's like, you know,
22:12
Speaker 3: this open ended thing we're picking. You've got fifty grand,
22:15
Speaker 3: it either goes on your mortgage or it goes in
22:16
Speaker 3: your investment. Your investment is going to return you more
22:19
Speaker 3: money over the long term, and putting it on your mortgage,
22:23
Speaker 3: So do with that information what you will. And I
22:25
Speaker 3: think it's all about comfort, So do your research, work
22:27
Speaker 3: out what's going on. But like, I have a lot
22:30
Speaker 3: of peace knowing that one my money is compounding in
22:34
Speaker 3: the share market and I'm making money and go, I'm
22:37
Speaker 3: going to retire a millionaire. I'm going to retire a multimillionaire,
22:40
Speaker 3: and I'm very excited about that, and I want to
22:42
Speaker 3: talk this year more about that side of it, because
22:45
Speaker 3: I think I've shared a lot. But I also shy
22:48
Speaker 3: away from being like, oh, it looks like this for
22:50
Speaker 3: me because I'm like, oh, it's not that relatable. I
22:53
Speaker 3: am relatable. I promise like I've come from nothing. I
22:57
Speaker 3: came from forty thousand dollars in debt to creating this,
23:00
Speaker 3: and that's insane. But if it's not relatable to you,
23:03
Speaker 3: that's okay. Let's use it as aspirational. And I really
23:05
Speaker 3: want to share those things so you can be motivated
23:07
Speaker 3: to change your own life. Yeah. But I look at
23:09
Speaker 3: it and I go, all right, well, if I was
23:12
Speaker 3: in that position, this is what I would do. And
23:15
Speaker 3: I have a lot of peace knowing that my share
23:17
Speaker 3: portfolio could pay off my mortgage tomorrow. I'm not going
23:20
Speaker 3: to do that, though, because I want to create wealth,
23:23
Speaker 3: and so I'm happy for my mortgage to tick along
23:25
Speaker 3: in the background, because like, sometimes debt can mean that
23:29
Speaker 3: we're ahead financially, yeah, just not personal debt. Yeah, I
23:32
Speaker 3: can promise your credit card isn't getting you ahead, Garrett?
23:35
Speaker 3: Do you want to get into the spicy stuff?
23:37
Speaker 6: Please?
23:38
Speaker 3: So on the stories I posted this DM that I got. Hey,
23:41
Speaker 3: she's on the money. My father in law passed away
23:43
Speaker 3: suddenly and his partner is handling everything. She's always been
23:47
Speaker 3: terrible with money. We've even had debt collectors call us
23:50
Speaker 3: looking for her. Now. She claims he didn't have a will,
23:54
Speaker 3: but a few months ago she asked us to sign
23:56
Speaker 3: as executors for her will, and we believed she was
24:00
Speaker 3: getting it in line with my father in laws. We
24:03
Speaker 3: think she's trying to keep everything for herself. There's probably
24:06
Speaker 3: no cash, honestly, just his tools and a few assets
24:09
Speaker 3: my husband would love to keep. She's now asking us
24:12
Speaker 3: to pay fifteen hundred dollars each towards his cremation. It's
24:15
Speaker 3: one of those things that we have the money in
24:17
Speaker 3: an emergency fund for and don't really feel like we
24:20
Speaker 3: can say no to. Should we contribute, knowing her history
24:24
Speaker 3: and that the money may not even go where it's intended.
24:27
Speaker 3: I'm just scared that this will just be the start.
24:30
Speaker 3: Please help. Oh, I'm so sorry.
24:32
Speaker 5: I feel lost, and also apparently I'm willfully naive because
24:36
Speaker 5: I had no idea.
24:37
Speaker 3: It costs that much money to create somebody. It's thousands
24:39
Speaker 3: of dollars on average, I would say, And people are
24:42
Speaker 3: probably going to be like, oh, ours was cheaper or
24:44
Speaker 3: whatever it is, but your average funeral is going to
24:47
Speaker 3: cost ten thousand dollars. I'd say, I had no idea,
24:50
Speaker 3: and like the frustrating thing about that, and it's really like, unfortunately,
24:54
Speaker 3: I have a lot of experience in this space, having
24:56
Speaker 3: worked in financial advice and worked a lot in the
24:59
Speaker 3: inheritance space. Often that's lumped on you before you can
25:02
Speaker 3: access their trusts, like before you can access their superannuation
25:06
Speaker 3: or their savings account. When someone passes away, more often
25:09
Speaker 3: than not, their bank accounts get locked up until there
25:12
Speaker 3: is a resolution, until they know where that money is
25:14
Speaker 3: meant to go. You can't just dip into someone else's account,
25:17
Speaker 3: Like if you know someone passed away and that was
25:20
Speaker 3: really close to you, Jess, you can't just go and
25:22
Speaker 3: get their debit card and be like put it on this. Yeah,
25:25
Speaker 3: So you usually have to find the funds and then
25:27
Speaker 3: they can be replenished later from their estate. Yeap, where
25:31
Speaker 3: are you getting that? Yeah, that's crazy. It can be
25:34
Speaker 3: so financially frustrating.
25:36
Speaker 5: Yeah, we've done an episode before on wills and why
25:38
Speaker 5: they're so important. I think this is a really great
25:40
Speaker 5: example of why. If there is not a will in place,
25:43
Speaker 5: the assets or any money or anything that was owned
25:47
Speaker 5: by your father in law will be distributed based on
25:50
Speaker 5: like a standardized determination of.
25:53
Speaker 3: Where it goes. Is it spouse verst I'm not sure,
25:55
Speaker 3: do you know? It really depends on what the courts think.
25:59
Speaker 3: So if you do not have a will, it automatically
26:01
Speaker 3: goes through the legal system, which can take a minimum
26:03
Speaker 3: of twelve months to be distributed, even longer if there
26:06
Speaker 3: are debates around who should get what, and someone puts
26:09
Speaker 3: their hand up and says, well, I want X or
26:11
Speaker 3: I want why. More often than not, yes, you're saying
26:14
Speaker 3: there's no cash, but there will be just stuff to
26:16
Speaker 3: sort out. So he might not have a really big
26:19
Speaker 3: savings account, but he probably has super. Whether there's five
26:22
Speaker 3: thousand dollars in that super or five hundred thousand dollars,
26:25
Speaker 3: it's the same process. And unfortunately what gets DIBs is
26:30
Speaker 3: his personal debts first. So if he has a credit
26:33
Speaker 3: card that needs to be paid out, that gets paid
26:35
Speaker 3: out before the quote estate. So when I talk about
26:37
Speaker 3: the estate, I'm talking about everything that individual owned, from
26:41
Speaker 3: their shoes to their superannuation, because it goes, well, this
26:44
Speaker 3: is Jessica's a state, this is all her stuff, and
26:48
Speaker 3: that distribution will go towards paying debts. First debts, like
26:52
Speaker 3: if he doesn't have enough cash to pay off his debts,
26:54
Speaker 3: that doesn't transfer to you. In Australia, which is really lucky.
26:57
Speaker 3: It'll just be like, okay, well we have to wipe
26:59
Speaker 3: that slate clean, can't pay it back. But all of
27:02
Speaker 3: those things need to be considered and then there'll be
27:04
Speaker 3: a lump sum at the end. And usually dependents come first,
27:08
Speaker 3: so if they're married, yes, it will probably be there.
27:11
Speaker 3: But you can always put in a counter argument to say, well,
27:14
Speaker 3: actually I really want my dad's tools or this or that.
27:18
Speaker 3: More often than not, when it comes to physical stuff
27:21
Speaker 3: like tools, it's a family negotiation. So you kind of
27:24
Speaker 3: just do the important stuff through the legal system like
27:27
Speaker 3: subernuation or his credit cards or you know, his bank,
27:30
Speaker 3: and then you'll be like, did you want to take
27:31
Speaker 3: Dud's tools? No worries, like the government doesn't know about that,
27:35
Speaker 3: so you kind of just do it at will. Yeah,
27:37
Speaker 3: but it becomes a point of contention if someone's like, well,
27:40
Speaker 3: I wanted to sell them, and then they might try
27:43
Speaker 3: and bring it up as a part of the estate.
27:45
Speaker 5: Yeah, okay, I see, I will just preverse with what
27:48
Speaker 5: I'm about to say that this. I'm only saying this
27:50
Speaker 5: because our listener has said that they think that the.
27:53
Speaker 3: Isn't being truthful. Correct.
27:55
Speaker 5: Yes, so I would this be normally what I would
27:57
Speaker 5: say for a grieving widow.
27:58
Speaker 3: No, do you know what? It can be really confronting though,
28:02
Speaker 3: Like unfortunately, when stuff like this happens, we have to
28:04
Speaker 3: have some pretty confronting conversations sometimes when you're not ready
28:08
Speaker 3: for it.
28:09
Speaker 5: Yeah, So what I personally would do is I mean, obviously,
28:14
Speaker 5: I think you would be happy to contribute if that's
28:16
Speaker 5: what it takes to get it done, to do the
28:18
Speaker 5: funeral or the cremation or whatever it is in a
28:21
Speaker 5: way that you feel honors the wishes of your father
28:24
Speaker 5: in law. What that looks like, The semantics of that,
28:27
Speaker 5: the cost of that is going to be so specific
28:28
Speaker 5: to you. So maybe do a little bit of research
28:31
Speaker 5: on your own and figure that out so you know
28:32
Speaker 5: that financially, what she's asking for stacks up with what's
28:37
Speaker 5: going to be done, And then I probably would say
28:39
Speaker 5: something like really happy to come over and write a check.
28:43
Speaker 5: And I know that's random because you right to check
28:45
Speaker 5: in twenty twenty five, but I say that as something
28:47
Speaker 5: physical so that it gives you a reason to go
28:51
Speaker 5: see her, go to the house or go to wherever
28:53
Speaker 5: the stuff is, and say, while we're here, we'd really
28:55
Speaker 5: love to chat about like a few things that my
28:58
Speaker 5: partner would love to you know, keep to remember him
29:01
Speaker 5: by something like that, can we go through everything together?
29:03
Speaker 5: Can we do the clean out together? There's this whole
29:05
Speaker 5: thing of Swedish death cleaning, like apparently that's like cleaning
29:08
Speaker 5: out the physical stuff can be a big burden on
29:10
Speaker 5: people who are left behind. So it's also maybe nice
29:12
Speaker 5: to offer that assistance to her In that way, it
29:15
Speaker 5: gives you a chance to have a bit of visibility,
29:18
Speaker 5: hopefully over what was left behind. But I would be
29:21
Speaker 5: trying to find a way to like get into their
29:24
Speaker 5: home or get into their space without trying to be
29:26
Speaker 5: too invasive, but to then have an opportunity to say, hey,
29:29
Speaker 5: what are we going to do with all these things?
29:31
Speaker 5: There are some things that we'd really like to keep
29:32
Speaker 5: for sentimentality, or are there things that we can sell
29:35
Speaker 5: to help cover these costs, or what does that look
29:38
Speaker 5: like so that there is a hopefully somewhat equitable distribution
29:42
Speaker 5: of those whatever those physical assets are. The other alternative,
29:46
Speaker 5: if you can't get in there and do that, is
29:48
Speaker 5: I would say, can you maybe make the payments for
29:53
Speaker 5: the cremation or the funeral or whatever directly to ensure
29:57
Speaker 5: that the money is being used for that that something
30:00
Speaker 5: that you're worried about, you.
30:02
Speaker 3: Know, having worked in the space, having unfortunately in the
30:05
Speaker 3: last twelve months, had to guide a friend through this
30:07
Speaker 3: for her younger sister. Cremations can't be doy no, so
30:13
Speaker 3: it actually has to be done through a registered funeral home. Amazing.
30:17
Speaker 3: So I just I'm going to call the funeral home.
30:19
Speaker 3: Yeah cool? Where's your going? The Pine? No worries, I'm
30:21
Speaker 3: going to call up the Pine.
30:22
Speaker 6: Hi.
30:22
Speaker 3: I'm you know XYZ's daughter. I've been asked to contribute
30:26
Speaker 3: to the cremation. Could you just give me an invoice
30:28
Speaker 3: of what it is. There's four of us, we're going
30:30
Speaker 3: to be splitting the cost evenly. Could you just tell
30:32
Speaker 3: me what I owe you and I'll pay you directly. Yeah,
30:35
Speaker 3: no worries. Thanks Cheryl or whoever it is. I've actually
30:37
Speaker 3: called the funeral home. I know you said it was
30:39
Speaker 3: fifteen hundred. They actually said it was eight hundred per person.
30:42
Speaker 3: I'm just confused. Did you build in like some flowers
30:45
Speaker 3: or something. Is that the full funeral cost? Like, I'll
30:48
Speaker 3: call them back, I'll ask like some more questions. Yeah,
30:51
Speaker 3: but like nothing is stopping you from calling up. They
30:54
Speaker 3: might go, oh, I can't talk to you about this,
30:56
Speaker 3: this or this, but like I'm telling you right now,
30:59
Speaker 3: if that person is not telling the truth, and you
31:01
Speaker 3: call up the pine and they go, oh, we're just
31:02
Speaker 3: dealing with the wife at the moment, go okay, no worries,
31:05
Speaker 3: but could you tell the wife that I've called because
31:07
Speaker 3: I'm very happy to make the contribution, but I want
31:10
Speaker 3: to make it directly. Yeah, and they're going to go,
31:12
Speaker 3: we want to get paid, no worries, Like and you
31:14
Speaker 3: know what, this is awful again, And anyone who works
31:17
Speaker 3: in this space will know families are thickle. Like families
31:22
Speaker 3: are so challenging to work with. Sometimes there's dream families
31:25
Speaker 3: and everyone's on the same page, but there's always an
31:28
Speaker 3: ex wife or a daughter who wants something different or
31:30
Speaker 3: someone who wants X, Y or Z done under a
31:34
Speaker 3: certain you know, time schedule, and that's just not there.
31:37
Speaker 3: Sometimes you want the person embalmed and then someone else
31:39
Speaker 3: doesn't want that. Like there's conflict at every corner and
31:43
Speaker 3: it can be exhausting. But like to me, I'm sorry
31:46
Speaker 3: right now, that's really sad. You don't need the drama.
31:49
Speaker 3: Just go direct to the source. But hey, is there
31:52
Speaker 3: anything else that I can do? You know, did you
31:55
Speaker 3: have any outstanding questions from this person, Because if they're
31:59
Speaker 3: a good person and they're doing the right thing, they're
32:01
Speaker 3: not got to mind that you called about your father
32:03
Speaker 3: in law, yeah, or your husband called about his dad.
32:07
Speaker 3: It's family. It's family. Sorry, if something happened to my
32:10
Speaker 3: dad and for some reason, like I'm very lucky my
32:13
Speaker 3: parents are still together, but there was another person on
32:15
Speaker 3: the Sorry, I'm going straight to the source. That's my dad. Yeah,
32:19
Speaker 3: I want to know what's going on. So I would
32:22
Speaker 3: put my foot down in that aspect. As for stuff,
32:26
Speaker 3: you can definitely argue that whether that is through an
32:29
Speaker 3: estate planner, if he has no will, I would be
32:32
Speaker 3: diving a little bit deeper and saying no, we know
32:35
Speaker 3: he had a will, or saying my dad told me
32:37
Speaker 3: he had a will, Let's go find it was lodged somewhere.
32:40
Speaker 3: Was it officially done at some point? You might be
32:42
Speaker 3: able to get into his emails and find some correspondence
32:45
Speaker 3: with an estate planning lawyer or somebody who helped that,
32:48
Speaker 3: because more often than not, if you do a will,
32:50
Speaker 3: it's not on the back of a receipt. Yeah, there
32:52
Speaker 3: will be evidence of it somewhere. You need to look
32:55
Speaker 3: into that. Does he have a lock box, does he
32:58
Speaker 3: have somebody that he has nominated add his medical or
33:01
Speaker 3: personal power of attorney? How was that documented? So I'm
33:05
Speaker 3: perving through their stuff. I'm finding that information myself. If not,
33:09
Speaker 3: I am looking it up. Yeah, do you know what
33:11
Speaker 3: I mean? And this is the point where you might
33:14
Speaker 3: want some professional help, because we can feel about uncomfed. Yeah,
33:18
Speaker 3: and you can reach out to a good like a
33:20
Speaker 3: state planning lawyer and just be like, hey, what direction
33:22
Speaker 3: do I need to go in and they will be
33:24
Speaker 3: able to direct you because again it's really complicated and
33:27
Speaker 3: it varies state on state. So what we do here
33:30
Speaker 3: in Victoria is not the process in Queensland. Yeah, and
33:33
Speaker 3: that's really frustrating. So I can't give you any further advice.
33:35
Speaker 3: But also, I'm not a lawyer, go talk to one totally.
33:39
Speaker 3: What did everybody else say?
33:40
Speaker 6: Right?
33:40
Speaker 3: So, first thing I did was ask a few questions.
33:42
Speaker 3: First question, I said, well, what would you guys do
33:44
Speaker 3: in this situation? Sixty two percent said, pay only when
33:47
Speaker 3: the costs are proven, thirty two percent said I'll be
33:50
Speaker 3: lawyering up, and six percent said I'm just paying. I'm
33:53
Speaker 3: keeping the peace. Yeah, understandable for me. It's not just
33:56
Speaker 3: about keeping the peace. You have my fifteen hundred dollars,
34:00
Speaker 3: but like, this is clearly a small part of a
34:02
Speaker 3: bigger picture. Yeah, let's just make sure that we stamp
34:05
Speaker 3: it out from the beginning. Yeah. I then asked, have
34:07
Speaker 3: you ever had family drama dealing with a loved one's estate.
34:11
Speaker 3: Fifty four percent of you, thankfully have said I've never
34:14
Speaker 3: been in this situation. But then twenty eight percent of
34:17
Speaker 3: you said, yep, and it got messy, ten percent said no,
34:20
Speaker 3: it went well, thankfully, and eight percent said we had
34:23
Speaker 3: a few disagreements. Yeah. So between all of that, we
34:27
Speaker 3: take out our fifty four percent most people dealing with
34:31
Speaker 3: these situations have it get messy? Yeah, I've had some
34:34
Speaker 3: level of conflict. Yeah, will is so important, and just
34:38
Speaker 3: get your stuff together anyway. I then said, all right, guys,
34:41
Speaker 3: two cents give it to me. First person said, family
34:44
Speaker 3: and finances is never straightforward. Pay to say goodbye and
34:47
Speaker 3: then tackle the will later. Next person said, same page
34:51
Speaker 3: as me. Pay directly to the funeral home. Remove the
34:53
Speaker 3: middle person and cash going into her hands if she's
34:56
Speaker 3: not trustworthy. Next person said, the will's going to have
34:59
Speaker 3: been lodged, so if he has one, a solicitor should
35:01
Speaker 3: be able to find it on the database. Yeah. Next
35:04
Speaker 3: person said, as a wills and estate planning lawyer, I'm sorry,
35:08
Speaker 3: thank you're perfect to slide into our dams. Please go
35:11
Speaker 3: and get some advice about your rights for sure. I
35:13
Speaker 3: have a two parter. Okay, Money and family is tricky,
35:17
Speaker 3: especially when there are other factors impacting the situation. I
35:21
Speaker 3: now no longer speak to my mother since the mess
35:23
Speaker 3: that was sorting up my dad's estate. Oh that's really
35:26
Speaker 3: and this is the thing breaking. It's so awful. And
35:29
Speaker 3: totally understand that you're emotional. She's emotional. There's obviously history there.
35:33
Speaker 5: That we do, but it's where possible try and look
35:38
Speaker 5: at it all through a lens of grace because everyone's
35:40
Speaker 5: dealing with the emotional loss of a loved one, and
35:43
Speaker 5: that makes things so much more heightened, so much more complex,
35:46
Speaker 5: so much just more challenging.
35:47
Speaker 3: Your damn will. Yeah well yes, yeah, next person said,
35:51
Speaker 3: three years in and my dad's estate is still not
35:54
Speaker 3: finalized due to a big family feud. And guess what,
35:57
Speaker 3: I'm the executor. Oh wow, So with all of this,
36:00
Speaker 3: I've got two more. Someone else said, you guys like,
36:03
Speaker 3: it's so funny when we post these things. It was
36:05
Speaker 3: like people come out of the woodwork like professionals in
36:09
Speaker 3: the perfect space. So this is the second person actually
36:12
Speaker 3: work in wills and estates. Death brings out the greed
36:14
Speaker 3: in people. I mean, yeah, I could see that being
36:17
Speaker 3: true for sure. And then lucky last, we've got always
36:21
Speaker 3: make sure you have an up to date will and
36:23
Speaker 3: have these conversations with your loved ones so that this
36:26
Speaker 3: doesn't happen in your family. I mean, that's the perfect summary.
36:29
Speaker 3: That would be the perfect summary. But I am wildly
36:31
Speaker 3: passionate about wills and estate planning. If you need a recommendation,
36:35
Speaker 3: I have recommendations. I'll just give it to you now.
36:38
Speaker 3: Lucy from Head and heart estate planning does. My will
36:41
Speaker 3: has done. My whole estate plan for my family has
36:44
Speaker 3: updated it a number of times as our situation changes.
36:47
Speaker 3: When you have a life event, that's when you're usually
36:50
Speaker 3: thinking about wills and estate planning. Don't wait until you
36:54
Speaker 3: have a life event, just go and get it done.
36:56
Speaker 3: It's a hygiene factor. It means that your family doesn't
36:59
Speaker 3: have to stress and that all of your wishes are
37:02
Speaker 3: going to be held. Yeah, like my money when I die,
37:05
Speaker 3: I didn't work this hard for it to be fretted away. No,
37:08
Speaker 3: I worked this hard so that I could have an impact,
37:10
Speaker 3: and I would like that to be carried out. Please. Yeah, anyway,
37:13
Speaker 3: let's leave it there. We hope you have a really
37:15
Speaker 3: good weekend and we're going to see you bright nearly
37:17
Speaker 3: on Monday morning. For money, Darry, Bye, guys.
37:19
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