Latest / She's On The Money / FRIDAY DRINKS: Talking the Twitter Takeover!

Transcript

FRIDAY DRINKS: Talking the Twitter Takeover! · She's On The Money

0:00
Speaker 1: Just before we get started, we'd like to acknowledge and
0:03
Speaker 1: pay respect to Australia's Aboriginal and torrest Rate islander peoples.
0:07
Speaker 1: They're the traditional custodians of the lands, the waterways and
0:10
Speaker 1: the skies all across Australia. We thank you for sharing
0:13
Speaker 1: and for caring for the land on which we are
0:16
Speaker 1: able to learn. We pay respects to elders past and present,
0:19
Speaker 1: and we share our friendship and our kindness.
0:22
Speaker 2: She's on the Money, She's on the Money.
0:45
Speaker 1: Hello, and welcome to She's on the Money, the podcast
0:48
Speaker 1: for millennials who want financial freedom. Welcome back to another
0:52
Speaker 1: one of our Friday Drinks episodes where we celebrate the
0:55
Speaker 1: money wins from our special Shees on the Money community.
0:58
Speaker 1: There are always so many great money wins and confessions
1:01
Speaker 1: shed each and every single week in our Facebook group,
1:03
Speaker 1: and Jess, George and I spend a very big part
1:06
Speaker 1: of our week. In fact, it's becoming an even larger
1:08
Speaker 1: part of our week given we try to get even
1:10
Speaker 1: better and better content.
1:11
Speaker 3: Yeah, we'll talk about that.
1:12
Speaker 1: Off there, but we spend a very big part of
1:15
Speaker 1: our week talking about the things that you guys share
1:17
Speaker 1: with us in the office. So Now is the time
1:20
Speaker 1: to grab a drink, throw back your hair, and relax
1:22
Speaker 1: and get straight into the week that was with Miss
1:25
Speaker 1: Jessicarci up first to let us know what happened on
1:28
Speaker 1: Money Does this Week Hello.
1:31
Speaker 4: This week we chaed to someone who found herself in
1:33
Speaker 4: a position that many a person has. She was living
1:35
Speaker 4: off of Centerlink, which you know, multitude of reasons that
1:38
Speaker 4: can happen. We've said before that that can be a
1:40
Speaker 4: really tough spot to find yourself in. She didn't want
1:43
Speaker 4: to be in that position. She got herself out of it.
1:44
Speaker 4: She now runs a six figure hospitality business, and she
1:48
Speaker 4: has another freelance business. She's got it all going on.
1:51
Speaker 4: But it was truly really incredible to hear. And I think,
1:54
Speaker 4: you know, for a lot of people, you can find
1:55
Speaker 4: yourself stuck in a cycle and it can be really
1:57
Speaker 4: hard to get yourself out of that. But she really
2:00
Speaker 4: that with a little bit of tenacity and a lot
2:02
Speaker 4: of willpower, you can definitely do it.
2:04
Speaker 1: I loved her and I like snooped her business later,
2:07
Speaker 1: I'm not sharing it with you. By Georgia King. What
2:12
Speaker 1: do we do on a deep dive? This week my
2:14
Speaker 1: Live Hello, we.
2:15
Speaker 5: Spoke about protecting your financial assets within a relationship sexy,
2:20
Speaker 5: specifically de facto relationships l Yes, which was super interesting because,
2:25
Speaker 5: as we found through talking to the community, a lot
2:27
Speaker 5: of people don't really even know what de facto.
2:30
Speaker 1: Is, and that you can accidentally be de facto.
2:33
Speaker 3: Yeah, exactly, deact factor. I think we call.
2:36
Speaker 4: And you don't think about all of the things that
2:38
Speaker 4: it can impact as well, which I have unfortunately found
2:40
Speaker 4: out over the past year.
2:41
Speaker 1: Turns out having a boyfriend has cost this lady who
2:44
Speaker 1: wants to buy a house a little bit of serviceability.
2:47
Speaker 1: I know, it's so rude, Jane, straight to the bin.
2:50
Speaker 1: Love is the worst. We also have a wedding podcast
2:55
Speaker 1: coming up, so keep an eye out for that one. George,
2:58
Speaker 1: did we learn anything else in truth on that show?
3:01
Speaker 5: No, I think they're the main things to remember, V
3:03
Speaker 5: But I guess also like just knowing that you have
3:06
Speaker 5: rights within a de facto relationship and that there are
3:09
Speaker 5: financial implications that you may not be aware of.
3:12
Speaker 1: Yeah, And I feel like so many people say things like, oh,
3:14
Speaker 1: but we weren't married. It's like no, no, no, no, sir,
3:16
Speaker 1: sit down, Like it just doesn't make it doesn't make
3:19
Speaker 1: that much of a difference. So I'm sure in the
3:21
Speaker 1: sixties it made a massive difference as to whether you
3:23
Speaker 1: were a married woman or not. But nowadays it doesn't
3:27
Speaker 1: actually matter as to what your rights are. And I
3:29
Speaker 1: think that too many times we undervalue our contributions in
3:32
Speaker 1: a relationship. And I think that was another one of
3:34
Speaker 1: our building that up podcasts. So I really enjoyed it.
3:37
Speaker 1: But I also really liked talking about estate planning and
3:40
Speaker 1: assets in wealth creation. So for me, that was a
3:42
Speaker 1: good episode, but maybe a little bit dry. I promise
3:45
Speaker 1: we've got some really exciting content coming up very soon.
3:48
Speaker 3: Some absolute calkers can confind.
3:50
Speaker 1: Yeah, Like, we literally just recorded one, so I reckon
3:53
Speaker 1: it's pretty good. Tickets on ourselves, you know else, I
3:56
Speaker 1: have tickets on ge community. No my ability to segue.
4:00
Speaker 1: Could you think I say way to get into money
4:02
Speaker 1: wins this week?
4:02
Speaker 5: Well, I was going to say, you know what else
4:04
Speaker 5: is a corker because I think I said corker earlier? Yeah?
4:07
Speaker 1: Good, nice, those will use all right, let's go.
4:10
Speaker 5: Okay, the first money win of the week, ladies, it
4:13
Speaker 5: comes from Ruby.
4:14
Speaker 3: I will claim this as.
4:15
Speaker 5: A money win. I was shopping at Country Road and
4:18
Speaker 5: realized I could fit into kids sizing, which is half
4:21
Speaker 5: the price of adults.
4:21
Speaker 1: Oh my gosh, yes, brilliant, Yes, yes, you're a genius.
4:25
Speaker 3: The Kid's Ranger Country Road is stunning.
4:28
Speaker 1: Okay, But like Ruby and I, same page this week,
4:32
Speaker 1: I have been pining over this very fancy puffer jacket,
4:35
Speaker 1: but in the adult sizes too expensive. Looked at the
4:38
Speaker 1: measurements adult size eight same as fourteen year old kid
4:43
Speaker 1: money win. It's less than half the price. So anyway,
4:46
Speaker 1: it's still an expensive jacket. But I've justified it to myself,
4:49
Speaker 1: and I would like to hear another money win before
4:51
Speaker 1: you guys question my money decisions.
4:52
Speaker 3: Brilliant.
4:53
Speaker 5: The next one comes from Jess money win for charity.
4:56
Speaker 5: I raise over twenty thousand dollars. Yeah, make a wish
5:00
Speaker 5: and donate life over Easter by running a national car
5:03
Speaker 5: event with my husband.
5:04
Speaker 3: A national lass. What a honey.
5:07
Speaker 5: The event bank account stayed in the green during organizing.
5:10
Speaker 3: Always a good feeling.
5:11
Speaker 5: So apart from a couple of last cleaning bills I
5:13
Speaker 5: have to pay, that is all above.
5:15
Speaker 3: Board and yeah we're done.
5:17
Speaker 1: Oh my gosh, that's so special. Twenty grand, twenty big ones.
5:23
Speaker 1: That's actually do you're not kudos to you, because raising
5:27
Speaker 1: money for charity is so hard because people are like, oh, Jeff,
5:31
Speaker 1: here's a one thousand dollars. They're like five dollars here,
5:33
Speaker 1: ten dollars there. It's like all the small things that
5:36
Speaker 1: add up, and it usually takes so much work. So
5:38
Speaker 1: I'm impressed. I'm very impressed.
5:40
Speaker 3: We love what an Angel?
5:41
Speaker 5: What an Angel onto a slightly lower brow money win,
5:44
Speaker 5: but they all count.
5:46
Speaker 3: Did you know.
5:46
Speaker 5: Someone's money, Well, have a listener. Okay, it comes from Laura.
5:51
Speaker 5: I got two plant based working low brow. I got
5:55
Speaker 5: two plant based burgers from Grilled on Monday for.
5:57
Speaker 3: The price of one. Oh that's that is a money plus.
6:00
Speaker 3: With the rewards program, I got a free small chips too.
6:03
Speaker 1: Can we just talk about how expensive plant based burgers
6:07
Speaker 1: it Grilled are.
6:08
Speaker 3: I'm not across it, i am because that's what I eat.
6:11
Speaker 1: If you get the vegan guard and Goodness which has
6:13
Speaker 1: the it's like the unreal meat, like it's the fake
6:16
Speaker 1: meat burger, and then you obviously eat you're just like me,
6:18
Speaker 1: So you get the gluten free bun. And then you
6:20
Speaker 1: also add grilled pineapple, which you can't miss, like grilled
6:23
Speaker 1: pineapple and any burger ten out of ten, it's like
6:26
Speaker 1: twenty three dollars. What the hell it's grilled? Is it
6:29
Speaker 1: meant to be takeaway?
6:30
Speaker 4: More expensive? I'm assuming that a normal grilled burker. Yeah,
6:33
Speaker 4: like fourteen or fifteen years That interesting. I saw a
6:36
Speaker 4: really interesting breakdown a little while and this is wildly
6:38
Speaker 4: off topic, but how much money it saves when somebody
6:41
Speaker 4: eats the plant based diet And it's like the cost
6:44
Speaker 4: for me personally, well, clearly not, but the cost of
6:46
Speaker 4: raising I suppose animals, you know that whole process, the water,
6:50
Speaker 4: the food, et cetera, versus I guess the water and fertilizer.
6:53
Speaker 4: Maybe for like the plant based products, it's like a
6:55
Speaker 4: really significant.
6:56
Speaker 1: So we're paying more money for them to save more money.
6:59
Speaker 5: Yeah, ripoff and also the environmental impact would be substantial there.
7:03
Speaker 1: But I could also eat the veggie burger. They have,
7:06
Speaker 1: like a very good veggie burger that's much more reasonably priced,
7:09
Speaker 1: but I'm not going to do that. True on Monday, come.
7:14
Speaker 5: At me our next ween. It comes from Sarah. I
7:18
Speaker 5: received my first ever dividends page. It was only about
7:22
Speaker 5: thirty dollars cares, but it feels great.
7:24
Speaker 3: Even in these difficult times in the stock mar Oh
7:26
Speaker 3: my gosh, love that.
7:28
Speaker 1: I love that. I love your first diffidend. Yeah so sweet.
7:32
Speaker 3: The next week it comes from Nicole money Win.
7:35
Speaker 5: I had to get my puppy some Tick and Wormer tablets,
7:38
Speaker 5: so I bit the bullet and ordered them over the
7:40
Speaker 5: Easter weekend. Come the Tuesday, I've got a flashy message
7:44
Speaker 5: about a sale on exactly what I had ordered, and
7:47
Speaker 5: Tick and Wormer apparently is not cheap thanks to this group.
7:50
Speaker 5: I contacted the company and they refunded the difference straight away,
7:53
Speaker 5: and I'm so glad I found she's on the money.
7:56
Speaker 1: Oh what a legend.
7:57
Speaker 3: I love that.
7:58
Speaker 5: The next ween it comes from Megan money In. I
8:00
Speaker 5: noticed the price was different to the price label on
8:02
Speaker 5: a package of twenty five dollars stake at Coals. I
8:05
Speaker 5: took it to the checkout and scored it free through
8:07
Speaker 5: their price scanning promise.
8:09
Speaker 3: This was gold in grocery money. I have no idea,
8:12
Speaker 3: I just need it.
8:14
Speaker 4: I'm not one hundred p cent, but I think it's
8:16
Speaker 4: if it's marked wrong, you get it for free or something.
8:18
Speaker 3: That's what it sounds like anyway.
8:19
Speaker 1: That what sounds so expensive but apparently not as expensive
8:26
Speaker 1: as plant based alternative.
8:28
Speaker 5: The final one for the week, guys, it comes from
8:30
Speaker 5: Pierra Money Win. I scored a nine hundred dollars zimmum
8:34
Speaker 5: and dress for seventy dollars.
8:35
Speaker 1: Sorry, work money scenes. That is a very good money win. O.
8:43
Speaker 1: That stuff is going to make sure that I don't
8:46
Speaker 1: meet any of my financial year.
8:48
Speaker 3: That's what that stuff does to us. That's it for
8:50
Speaker 3: the week, guys.
8:51
Speaker 1: Yeah, I love that all good money wins this week.
8:54
Speaker 1: I want to hear people's confessions because I've been a
8:56
Speaker 1: little bit naughty with my spending recently. So maybe we
8:58
Speaker 1: do call out next week and confessions come on. Yep,
9:01
Speaker 1: confession specifically, I hear your money wins. We'll keep that thread.
9:04
Speaker 1: I want a confession thread. I might just even go
9:06
Speaker 1: broke and ask for one myself. Thanks for coming to
9:09
Speaker 1: my ted talk. Go to a quick break, and then
9:11
Speaker 1: we're gonna have a chart. Apparently you're going to bring
9:13
Speaker 1: up our friend Elon Musk again and we have a
9:15
Speaker 1: listener question, so stick around already, guys.
9:23
Speaker 4: Last week we spoke about mate Elon Musk and him
9:25
Speaker 4: going a little bringing in back. I'm bringing him back
9:28
Speaker 4: because there's been a development so raumba how I said
9:31
Speaker 4: he bought the majority share? Was going, Oh, should I
9:34
Speaker 4: go on the board?
9:35
Speaker 3: I'm going to go on the board. Just kidding, No,
9:36
Speaker 3: I'm not going to go on the board.
9:37
Speaker 1: It was a board, no board. It was just imagine
9:40
Speaker 1: having the money to joke about that about Twitter.
9:43
Speaker 6: I know.
9:43
Speaker 4: Well, Twitter has just announced that it has agreed to
9:46
Speaker 4: a full takeover by Elon Musk. He's spending a CRISP
9:51
Speaker 4: forty four billion with a b forty four billion dollars
9:56
Speaker 4: to become the owner.
9:57
Speaker 3: Of the platform.
9:57
Speaker 1: I'll just chump change.
9:58
Speaker 4: Oh yeah, well, clearly it's been approved and now he's
10:01
Speaker 4: just subject to a shareholder vote, which they're saying is
10:04
Speaker 4: very likely to go through at the time that we're
10:06
Speaker 4: recording this, which means that everybody who owns a slice
10:09
Speaker 4: of that pie, sorry, but see you later.
10:12
Speaker 5: Yeah.
10:12
Speaker 1: But also, they are getting paid out quite handsomely for
10:16
Speaker 1: their shares. So they're going to get paid fifty four
10:19
Speaker 1: dollars and twenty cents for every share that they have,
10:22
Speaker 1: which is above market price. And if you're thinking like, well,
10:25
Speaker 1: why did Twitter let that happen, it's kind of because
10:28
Speaker 1: Elon made sure that it did happen like it was
10:31
Speaker 1: going to come. I think a lot of people like, oh,
10:33
Speaker 1: it will never happen. But like looking at it and
10:35
Speaker 1: the way businesses in America function, if Twitter didn't actually
10:39
Speaker 1: accept Elon's offer, they would have been down as bad
10:42
Speaker 1: directors because it wouldn't have been in the quote best
10:45
Speaker 1: interest of the shareholder. And the best interest of the
10:48
Speaker 1: shareholder is getting them the best return possible on their investment.
10:51
Speaker 1: So they've done quote the right thing. But like, that
10:54
Speaker 1: seems wild to me that it's now going to go private,
10:57
Speaker 1: And I would really wonder what that means for communicating
11:00
Speaker 1: because like Twitter has always been I don't know if
11:02
Speaker 1: you guys see it the same way, It's kind of
11:04
Speaker 1: been like the wild West. Like so, there are you know,
11:06
Speaker 1: obviously some great people on Twitter, but there are also
11:09
Speaker 1: some people that you just don't have a lot of
11:11
Speaker 1: respect for. I mean the fact that Twitter allowed Donald
11:14
Speaker 1: Trump to be so vocal, and it allowed a lot
11:17
Speaker 1: of politicians to have their say on there when maybe
11:19
Speaker 1: they shouldn't, and historically there has been a lot of
11:22
Speaker 1: misinformation shared on Twitter. I'd be really interested, or I
11:26
Speaker 1: am super interested to see where this I guess medium
11:29
Speaker 1: of communication goes and what Elon's plan is because now
11:32
Speaker 1: he just don's Twitter like what, Yeah, pretty crazy.
11:35
Speaker 4: He did say free speech is the bedrock of a
11:37
Speaker 4: functioning democracy, and Twitter is the digital town square where
11:40
Speaker 4: matters vital to the future of humanity are debated. I
11:42
Speaker 4: also want to make Twitter better than ever by enhancing
11:45
Speaker 4: the product with new features.
11:47
Speaker 3: So he's obviously.
11:48
Speaker 1: Thinking about it.
11:48
Speaker 4: And there was a lot of discourse when he bought
11:50
Speaker 4: the majority share where people were beginning to worry about
11:53
Speaker 4: this happening, because, as you said, it's definitely kind of
11:56
Speaker 4: been an open forum for people to voice their opinions,
11:59
Speaker 4: good or bad. You know, freedom of feature is something
12:01
Speaker 4: that we're all entitled to and that has very much
12:03
Speaker 4: taken place on Twitter as a platform. So there were
12:05
Speaker 4: a lot of concerns that censorship in some way, shape
12:09
Speaker 4: or form is going to come about. So it's really
12:11
Speaker 4: interesting to see what's going to happen. And I have
12:13
Speaker 4: seen a few people talking online, ironically, some of them
12:16
Speaker 4: on Twitter.
12:18
Speaker 3: Do you go on Twitter often?
12:20
Speaker 1: Yeah?
12:20
Speaker 4: I do actually have a World News I follow a
12:23
Speaker 4: few like internet people I guess that I really like.
12:26
Speaker 4: But I also find it's a really interesting space to
12:29
Speaker 4: gauge like general consensus and the mood. Yeah, see opinions
12:34
Speaker 4: that might differ from mine. Sometimes I fall down a
12:35
Speaker 4: bit of a whole. But a lot of people discussing.
12:38
Speaker 4: And this is a real throwback for my Internet peach
12:40
Speaker 4: from back in the day. But when Tumblr was purchased
12:43
Speaker 4: by Yahoo, don't know if any of my other fellow.
12:45
Speaker 1: Ladies billion dollars you remember, I can't remember what year,
12:49
Speaker 1: but it's a a while ago, and I was heartbroken
12:52
Speaker 1: because Tumblr was my teenage emo dream like there were
12:56
Speaker 1: just I just had a lot going on. There's a
12:58
Speaker 1: reason I deleted my entire time inspected from the Internet
13:01
Speaker 1: before starting this podcast by.
13:02
Speaker 3: Didn't we all.
13:03
Speaker 4: But when Yahoo purchased Tumba, they made a lot of
13:05
Speaker 4: significant platform changes, and people essentially boycotted the platform and
13:08
Speaker 4: it died a very quick death.
13:10
Speaker 3: But people eat it.
13:11
Speaker 4: They eat it, indeed, and they're saying that maybe that's
13:14
Speaker 4: something that will happen for Twitter if all of these
13:16
Speaker 4: changes come in. People are talking about, hey, like vote
13:19
Speaker 4: with you know what you use and you're if you're
13:21
Speaker 4: not using the platform, it's actually no value to him.
13:23
Speaker 4: He's going to lose a lot of things and people
13:25
Speaker 4: just don't like Elon Musk as well, So I'm really
13:28
Speaker 4: in's a lot of.
13:29
Speaker 1: Colorful opinions on him, which I can completely understand. But
13:32
Speaker 1: it's interesting that people would literally boycott their day to
13:36
Speaker 1: day functionality and the way they function on the Internet
13:40
Speaker 1: because they just don't like someone.
13:42
Speaker 2: Yeah.
13:42
Speaker 4: I think it just opens potentially the place for a
13:45
Speaker 4: new platform to a march one hundred percent.
13:47
Speaker 1: I'd be so interested to see what happens or even
13:50
Speaker 1: how other social media platforms adapt to this, Like how
13:54
Speaker 1: is Facebook and Instagram and TikTok? How are they going
13:57
Speaker 1: to respond to? You know, I guess entire I see
14:00
Speaker 1: people away from that platform, like a Facebook status is
14:03
Speaker 1: coming back? Like probably not, but like I don't know, maybe.
14:07
Speaker 4: Did anyone else get that on this day ten years
14:10
Speaker 4: communicating with a posts?
14:13
Speaker 3: Yeah, I've never been.
14:14
Speaker 1: More embarrassed in the fashion and that person is me
14:17
Speaker 1: ten years ago on Facebook. Honestly, Like, who thought that
14:21
Speaker 1: was a good idea unpopular opinion?
14:24
Speaker 3: Maybe?
14:24
Speaker 5: I don't know, but I'm kind of I really have
14:27
Speaker 5: my fingers crossed.
14:28
Speaker 1: You just want to see a train ring?
14:30
Speaker 3: I want to twitter burn, Twitter suck? Yeah, why do
14:37
Speaker 3: you want this?
14:38
Speaker 1: I've never heard you like wish anything terrible on anyone,
14:42
Speaker 1: and now you want someone's billions to burn.
14:45
Speaker 3: Well I would I know nothing against Elon O.
14:48
Speaker 5: Great guy, all reports, but Twitter, I think because that's
14:52
Speaker 5: not what reports. Okay, Wh's not my mate, but I
14:56
Speaker 5: just think Twitter, of all of the social media platforms,
15:00
Speaker 5: is the one that is rife with the most disgusting,
15:04
Speaker 5: vile behavior. And I think if we can eradicate the
15:08
Speaker 5: platform by this giant taking it over and hopefully ruining
15:13
Speaker 5: it and having people abandoned shit because of who he is,
15:16
Speaker 5: I think that would be fantastic.
15:18
Speaker 3: Like it's a winter George like over. But yeah, I
15:23
Speaker 3: don't know. I'm excited to see what happens. You all
15:26
Speaker 3: want to see a train wreck come onto you.
15:28
Speaker 1: I'm excited to see what happens, just because they like
15:31
Speaker 1: watching the markets and how that's impacting, you know, other
15:34
Speaker 1: social media platforms. I wouldn't be surprised if other billionaires
15:37
Speaker 1: come out of the woodwork and decide that they too
15:40
Speaker 1: want to have some level of I guess control of
15:43
Speaker 1: different social media platforms. And it would be interesting to
15:46
Speaker 1: see why and when and what Elon's actually planning. Because
15:50
Speaker 1: as much as you want to see it full from
15:52
Speaker 1: grace because of his reputation, Like a lot of people
15:55
Speaker 1: might be happy with it, because obviously Elon said that
15:57
Speaker 1: freedom of speech was really important, So maybe he's not
16:00
Speaker 1: going to sense of that platform at all. So like,
16:02
Speaker 1: who knows what's going to happen or how it's going
16:04
Speaker 1: to be taken up. I'd be interested to see if
16:06
Speaker 1: it kind of goes a bit more down a Reddit
16:08
Speaker 1: rabbit hole where it's a bit more niche and not
16:11
Speaker 1: so mainstream. I don't know.
16:12
Speaker 5: I wonder if you're part of it as well. Is
16:15
Speaker 5: him kind of taking it to Zuckerberg as well as
16:18
Speaker 5: a fellow bajillionaire.
16:20
Speaker 3: My social media platform is better than I bought mine.
16:26
Speaker 1: I didn't even have to work.
16:29
Speaker 4: Must be nice before we move along. I just wanted
16:31
Speaker 4: to ask. I wouldn't be surprised if people in our community,
16:34
Speaker 4: if some of them hold Twitter shares. And obviously we
16:37
Speaker 4: always talk about you know, you're investing for the long term,
16:39
Speaker 4: you're purchasing stocks with that in mind. What if someone's
16:41
Speaker 4: purchased for stock, you know, in the last few years,
16:44
Speaker 4: and then all of a sudden it's basically been sold
16:46
Speaker 4: out from under them. Do they need to be concerned
16:48
Speaker 4: me or is it going to be okay? Look, all's
16:50
Speaker 4: fair in love and more. It's how the market works.
16:52
Speaker 1: Like if you are being bought out, you just have
16:55
Speaker 1: to look for another asset that is going to you know,
16:58
Speaker 1: have the same risk yield and I guess values that
17:02
Speaker 1: you had and don't forget.
17:03
Speaker 4: Once that money hits your account, you will be liable
17:06
Speaker 4: most likely to have to pay capital gain Well, it depends,
17:08
Speaker 4: so you'll have to pay capital gains absolutely if you've
17:11
Speaker 4: made a profit. If you have held it for less
17:14
Speaker 4: than a year and you're living in Australia, there are
17:17
Speaker 4: higher capital gains taxes to be paid than if you've
17:20
Speaker 4: held it for more than twelve months. But it's the
17:23
Speaker 4: best thing, honestly is to either check with your share
17:26
Speaker 4: trading platform because they're probably going to announce some kind
17:29
Speaker 4: of like info sheet on it because it is so
17:31
Speaker 4: big and it is going to impact so many people,
17:34
Speaker 4: or come June thirty, just touch base with your accountant
17:37
Speaker 4: to make sure that you're doing all of the right things.
17:40
Speaker 4: All right, Well, enough about Twitter. We're probably still.
17:43
Speaker 1: Gonna mention it in episodes to come, because I think
17:45
Speaker 1: it is kind of interesting to see how the market
17:48
Speaker 1: is changing and see what happens in the market, because
17:51
Speaker 1: you might have spent ages looking at what you want
17:53
Speaker 1: to hold in your portfolio. You might have picked Twitter
17:55
Speaker 1: and then been like, what do you mean I can't
17:57
Speaker 1: have that anymore? What do you mean? It's being taken
17:59
Speaker 1: off me? And that's just what's going to happen. And
18:01
Speaker 1: there's probably a lot of ETFs out there as well
18:04
Speaker 1: that are holding Twitter that are now going to have
18:06
Speaker 1: to process that and rebalance the portfolio and find an
18:09
Speaker 1: alternative technology company to invest in it. I'd be really
18:12
Speaker 1: interested to see, genuinely, and I'm going to, yeah, like
18:16
Speaker 1: what are the brokers picking up? And I have these
18:18
Speaker 1: conversations every single week with the stockbrokers in my business
18:21
Speaker 1: to understand, well, how does that work and what are
18:23
Speaker 1: you guys seeing and how are you thinking? I want
18:25
Speaker 1: to know who they're planning on replacing Twitter with in
18:27
Speaker 1: people's portfolios. None of my client's owners. Why don't get
18:30
Speaker 1: to be in on it? But I want to know
18:31
Speaker 1: the information, you know, I just want to see what's
18:33
Speaker 1: going on. I'm a little bit pervy for.
18:34
Speaker 4: You answering it themselves. Let us know it would be curious.
18:37
Speaker 1: Sad and why tell me? I want to see your
18:39
Speaker 1: investment mandate tell me anyway, Moving on, we have a
18:43
Speaker 1: really interesting money question from one of our shees on
18:46
Speaker 1: the Money listeners that I feel like it's going to
18:48
Speaker 1: be a question that a lot of people in this
18:50
Speaker 1: community have been asking.
18:51
Speaker 6: Hello, longtime listener, first time call, and my name's Jay.
18:55
Speaker 6: I am just wondering. I've saved quite a bit of
18:58
Speaker 6: money over the last couple of years over COVID, and
19:01
Speaker 6: I've got split evenly between an index fund and savings.
19:05
Speaker 6: So there's about thirty k split evenly, half to index fund,
19:09
Speaker 6: half to savings, and I'm just wondering if I should
19:11
Speaker 6: put more of that savings money into investments rather than
19:15
Speaker 6: just sitting on it where it's not making a lot
19:16
Speaker 6: of money from interest. I am a bit worried about,
19:20
Speaker 6: you know, putting all my money to investments in case
19:22
Speaker 6: I want to spend it. But I'm also thinking I
19:24
Speaker 6: have too much money sitting in savings. What's a good split? Thanks?
19:28
Speaker 1: All right, Jay, my friend, what you are asking for
19:30
Speaker 1: there is personal advice, and unfortunately we can't give that,
19:33
Speaker 1: but I can articulate. I suppose a little bit of
19:37
Speaker 1: like thinking on that question process, right, because you're looking
19:41
Speaker 1: at it and you're going, look, I'm saving, but I'm
19:43
Speaker 1: also investing, Like what split should this be? And the
19:45
Speaker 1: only person who can actually answer that is you. So
19:48
Speaker 1: at the moment, I have no idea of your personal
19:50
Speaker 1: circumstances or what you want to achieve or how you're
19:52
Speaker 1: doing it, or why you're saving. Like, are you saving
19:55
Speaker 1: for your first home, in which case that should be
19:57
Speaker 1: your priority to you? Are you actually not not saving
20:00
Speaker 1: at all and the priority is investing, in which case
20:03
Speaker 1: your priority split is going to be different. I think
20:05
Speaker 1: to work out how much you should be saving and investing,
20:08
Speaker 1: you actually need to sit down and really write out
20:11
Speaker 1: your own goals and what you want to achieve. So,
20:14
Speaker 1: what do you want to achieve for an emergency fund?
20:16
Speaker 1: What does that actually look like for you? And the
20:19
Speaker 1: thing about emergency funds is they're so different for everybody. Like,
20:22
Speaker 1: at the moment, my emergency fund and I'm going to
20:24
Speaker 1: take a wild stab in the dark, is probably higher
20:26
Speaker 1: than yours, Jess and yours George, purely because I've got
20:29
Speaker 1: a mortgage, I've got a partner, I've got three pets.
20:31
Speaker 1: There's like a lot of financial responsibilities in my life
20:35
Speaker 1: compared to Jess who you know, you've got your savings
20:37
Speaker 1: that you're planning on buying a house with, but you're
20:40
Speaker 1: not financially responsible for any other humans or a partner,
20:43
Speaker 1: And then George you'd be in a very similar position.
20:46
Speaker 1: So we all have different personal circumstances. And I have
20:49
Speaker 1: no idea what Jays is. It's j single, who knows.
20:52
Speaker 1: That's a weird question to ask on this podcast, hah,
20:54
Speaker 1: But it's one of those things where I don't know
20:57
Speaker 1: what that looks like for you, and you need to
20:58
Speaker 1: sit down and go, all right, I need to know
21:01
Speaker 1: what my emergency fund should be and work towards that.
21:04
Speaker 1: I need to think about why I'm investing in the
21:06
Speaker 1: first place. What am I actually doing. Am I investing
21:10
Speaker 1: just because it's fun? Or am I investing because I
21:12
Speaker 1: want to create an early retirement? And if that's the case,
21:16
Speaker 1: are you investing enough to achieve that goal? Or have
21:18
Speaker 1: you not actually sat down and worked that out? Because
21:21
Speaker 1: a lot of what we've said when we talk about
21:23
Speaker 1: goal setting is working backwards. Because if you're planning on
21:26
Speaker 1: retiring with a specific income at a specific age, You've
21:29
Speaker 1: then got to work backwards as to how much money
21:32
Speaker 1: you need to save or invest each in every single month,
21:35
Speaker 1: week or fortnite or however often you get paid. And
21:38
Speaker 1: I can't tell you that unless I was your financial
21:40
Speaker 1: advisor and I literally looked at everything that I'm telling
21:43
Speaker 1: you to look at right now. So it's very frustrating.
21:46
Speaker 1: Because we also had someone in my DMS this week, Jess,
21:48
Speaker 1: going hey, V like, I'm just wondering I finally got
21:52
Speaker 1: to the point where I can buy property, really excited.
21:54
Speaker 1: My partner and I trying to work out though do
21:57
Speaker 1: we buy an investment, do we buy a family home?
21:58
Speaker 1: Do we buy a land? I'm like, I can't answer
22:01
Speaker 1: that one legally because I could literally go to jail
22:05
Speaker 1: for five years and have a million dollar fine. It's true, yeah,
22:08
Speaker 1: thank you as sick, but also I fully respect that.
22:11
Speaker 1: But two, I don't know you from a bar of soap.
22:14
Speaker 1: If you're in my DMS, like your profile picture is cute,
22:17
Speaker 1: You've spoken to me really nicely, so I'm assuming you're
22:19
Speaker 1: a nice lady. But how am I meant to know
22:22
Speaker 1: your financial responsibilities and what would be better for you?
22:26
Speaker 1: Because just cause something's better on paper, like we could
22:29
Speaker 1: look at the different asset classes, right and go, asset
22:32
Speaker 1: class A outperforms every other asset class. That does not
22:36
Speaker 1: mean that it is the best option for you. So
22:38
Speaker 1: I think it's really interesting when people ask questions that
22:41
Speaker 1: are so like which bucket should I be putting stuff in?
22:44
Speaker 1: I'm like, do you know what, even if you went
22:46
Speaker 1: to a financial advisor, they're going to sit down and
22:48
Speaker 1: be like, all right, Jess, tell me about your goals.
22:50
Speaker 1: What do you want to achieve? And that's a process
22:53
Speaker 1: you can go through on your own.
22:54
Speaker 4: It's really interesting. I think a lot of people think
22:56
Speaker 4: that way. I mean one because it definitely simplifies the process,
22:59
Speaker 4: Like could say, oh my gosh, everybody should have fifty
23:02
Speaker 4: percent here and fifty percent there. It would make your
23:04
Speaker 4: life easier. But there are other platforms. If anyone's like
23:06
Speaker 4: me and has read The Barefoot Investor, who will straight
23:09
Speaker 4: up say you should be allocating x amount of your
23:11
Speaker 4: income to here? And as you say one, that doesn't
23:14
Speaker 4: work for everyone. But it's also important to recognize that
23:16
Speaker 4: that can shift, Like I'm saving for a home currently.
23:20
Speaker 1: So you're going to be real aggressive with that, right.
23:22
Speaker 4: Like I am still investing, but the amount that I'm
23:24
Speaker 4: investing has dropped off significantly to allow me to prioritize
23:27
Speaker 4: my primary goals, I.
23:29
Speaker 1: Need to get financial advice. So that makes sense.
23:31
Speaker 4: Yeah, but I think as well, like it doesn't necessarily
23:34
Speaker 4: mean that you have to do one or the other,
23:35
Speaker 4: Like he doesn't have to just be saving or just
23:38
Speaker 4: be investing. Like it's going to depend on which one
23:41
Speaker 4: is his priority, and we can't answer that for you.
23:43
Speaker 1: Yeah, And if both are a priority and you want
23:45
Speaker 1: them both to grow alongside each other, like you can
23:48
Speaker 1: do growth. But like if you're planning on you know,
23:50
Speaker 1: not even looking at that particular circumstance, But like, take
23:53
Speaker 1: your circumstance, Jess, you want a house so bad, and
23:57
Speaker 1: like I cannot wait until you get one. But hypothetically,
24:01
Speaker 1: if you just split it fifty to fifty, home ownership
24:04
Speaker 1: for you would be another eighteen months off because of
24:06
Speaker 1: the way you were previously investing, in the way that
24:09
Speaker 1: you were previously structuring your savings. You were like, no,
24:11
Speaker 1: I need to turbo charge this goal for the short
24:13
Speaker 1: term so I can achieve that, and then I'll work
24:15
Speaker 1: out my financial situation after that. Like things change and
24:19
Speaker 1: shift and I guess it's very hard also because like
24:22
Speaker 1: who knows is Jay earning eighty thousand dollars a year
24:25
Speaker 1: or is he earning eight hundred thousand dollars a year,
24:28
Speaker 1: because like that is going to be very different. So
24:31
Speaker 1: it's yeah, unfortunately, I hope that's given a little bit
24:34
Speaker 1: of insight. Goal setting is the most important thing that
24:36
Speaker 1: you can do for your future financial self. Sit down,
24:40
Speaker 1: work out what you want life to look like. It
24:41
Speaker 1: could start as like a little vision board or something
24:44
Speaker 1: really nice where you go. I don't know how much
24:46
Speaker 1: it's going to cost, but like, this is the type
24:48
Speaker 1: of life I want, and this is what I want
24:50
Speaker 1: to create for myself. And I think that vision boarding
24:52
Speaker 1: for me, it sounds fluffy, but like Jess vision board
24:56
Speaker 1: as well, don't you.
24:57
Speaker 3: I love it.
24:58
Speaker 1: I need to do a little team day where we
24:59
Speaker 1: just our little.
25:00
Speaker 3: Vision boards, this physical vision Yeah, yeah, yeah.
25:03
Speaker 1: I actually have like a corkboard from Kiki k It's white, obviously,
25:06
Speaker 1: very aesthetic, and I cut things out of magazines or
25:09
Speaker 1: like write things on post it notes and stick them
25:11
Speaker 1: to my vision board about achieving the goals. Actually, we're
25:14
Speaker 1: in the office the other day talking with Jasmine, who
25:16
Speaker 1: works for Zella about this, and she has one and
25:18
Speaker 1: she was like, oh, Ve, like, I manifested my job
25:21
Speaker 1: with you at Zella because I put it on my
25:24
Speaker 1: vision board. Like I put She's on the Money on
25:26
Speaker 1: the vision board and said one day I'll work with
25:28
Speaker 1: Jess and Victoria and she showed us specific yeah, but
25:30
Speaker 1: she showed us all these other things on her vision
25:32
Speaker 1: board that she was either already achieving or had done.
25:35
Speaker 1: And I was just like, get it. Like, I just
25:37
Speaker 1: feel like if you visualize it and you can see it,
25:40
Speaker 1: you're more likely to achieve it. And it also mine's
25:43
Speaker 1: on my wall behind my desk, so if I'm like,
25:45
Speaker 1: you know, just bored and looking around and not doing
25:48
Speaker 1: my work, I kind of see that and I get
25:49
Speaker 1: a little bit more motivation to keep working because I'm like,
25:52
Speaker 1: oh no, I've got so many things that I want
25:53
Speaker 1: to achieve or like do. Yeah, it's kind of cute
25:56
Speaker 1: and I think a really good vibe. If you're not
25:58
Speaker 1: ready to sit down and do the financial side of things,
26:00
Speaker 1: vision boarding can be really powerful to go this is
26:03
Speaker 1: the direction I want to go in. I have no
26:05
Speaker 1: idea what I can afford or what it looks like
26:08
Speaker 1: yet but like do that.
26:09
Speaker 3: It's cute, it's fun.
26:10
Speaker 4: I'm going to make that a thread. It's gonna go
26:12
Speaker 4: up to staying a Facebook group. If you are a
26:13
Speaker 4: fellow vision border show it your vision. Batch can fine
26:18
Speaker 4: wedding stuff at the moment. All right, guys, I think
26:22
Speaker 4: that is all we have time for today. Georgia, can
26:24
Speaker 4: you please wrap the boring but important stuff?
26:26
Speaker 3: Of course I can.
26:28
Speaker 5: Alrighty, guys, Please remember the advice Jed and She's on
26:30
Speaker 5: the Money is general in nature and does not consider
26:33
Speaker 5: your individual circumstances.
26:35
Speaker 3: She's on the Money.
26:36
Speaker 5: Exists purely for educational purposes and should not be relied
26:39
Speaker 5: upon to make an investment or a financial decision.
26:42
Speaker 3: Or a vision boarding decision. Do we promise?
26:45
Speaker 5: Victoria Divine is an authorized representative of in Focused Securities
26:49
Speaker 5: Australia Proprietary Limited ab IN four seven zero nine seven
26:53
Speaker 5: seven nine seven zero four nine AFSL.
26:55
Speaker 3: Two three six by two three.
26:57
Speaker 1: We will see you on Monday, guys, see you next week.
27:00
Speaker 3: Hey h