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How to Plan Your Retirement as If NZ Super Won't Be There · Making Cents

• 0:00
  Retirement
• 0:00
  is
• 0:01
  one
• 0:01
  of
• 0:01
  those
• 0:01
  conversations
• 0:02
  that
• 0:02
  gives
• 0:03
  people
• 0:03
  the
• 0:03
  ick.
• 0:04
  First
• 0:04
  it
• 0:05
  feels
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  far
• 0:05
  away,
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  then
• 0:06
  suddenly
• 0:06
  it's
• 0:06
  terrifyingly
• 0:07
  close.
• 0:07
  And
• 0:08
  the
• 0:08
  whole
• 0:08
  time
• 0:09
  you're
• 0:09
  trying
• 0:09
  to
• 0:09
  figure
• 0:10
  out
• 0:10
  what
• 0:10
  to
• 0:10
  do
• 0:10
  about
• 0:10
  it,
• 0:11
  the
• 0:11
  ground
• 0:11
  keeps
• 0:12
  shifting
• 0:12
  under
• 0:12
  your
• 0:12
  feet.
• 0:13
  Every
• 0:14
  election
• 0:14
  that
• 0:14
  rolls
• 0:14
  around,
• 0:15
  there
• 0:15
  are
• 0:15
  new
• 0:15
  questions.
• 0:16
  NZ
• 0:17
  super
• 0:17
  might
• 0:18
  get
• 0:18
  means
• 0:18
  tested,
• 0:19
  the
• 0:19
  age
• 0:19
  of
• 0:19
  retirement
• 0:20
  might
• 0:20
  go
• 0:21
  up,
• 0:21
  and
• 0:21
  if
• 0:22
  a
• 0:22
  wealth
• 0:22
  tax
• 0:22
  arrives,
• 0:23
  is
• 0:24
  there
• 0:24
  an
• 0:24
  argument
• 0:25
  that
• 0:25
  the
• 0:25
  savings
• 0:26
  you've
• 0:26
  been
• 0:26
  building
• 0:27
  could
• 0:27
  actually
• 0:28
  count
• 0:28
  against
• 0:28
  you?
• 0:29
  Honestly,
• 0:30
  how
• 0:31
  much
• 0:31
  can
• 0:31
  you
• 0:31
  actually
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  count
• 0:32
  on
• 0:33
  the
• 0:33
  pension?
• 0:33
  Well,
• 0:34
  welcome
• 0:34
  to
• 0:34
  Ask
• 0:34
  the
• 0:35
  Experts
• 0:35
  where
• 0:35
  each
• 0:35
  week
• 0:36
  people
• 0:36
  from
• 0:36
  inside
• 0:37
  the
• 0:37
  money
• 0:37
  world
• 0:37
  help
• 0:38
  us
• 0:38
  make
• 0:38
  sense
• 0:38
  of
• 0:39
  what's
• 0:39
  happening
• 0:40
  right
• 0:40
  now.
• 0:41
  In
• 0:41
  the
• 0:41
  hot
• 0:41
  seat,
• 0:41
  Katie
• 0:42
  Wesney,
• 0:42
  national
• 0:43
  coaching
• 0:43
  lead
• 0:44
  at
• 0:44
  EnableMe,
• 0:44
  who
• 0:45
  helps
• 0:45
  clients
• 0:45
  every
• 0:46
  day
• 0:46
  with
• 0:46
  exactly
• 0:47
  this.
• 0:47
  We're
• 0:47
  gonna
• 0:48
  pick
• 0:48
  your
• 0:48
  brains.
• 0:49
  Making
• 0:49
  Sense
• 0:50
  has
• 0:50
  partnered
• 0:50
  up
• 0:50
  with
• 0:51
  EnableMe
• 0:52
  to
• 0:52
  get
• 0:52
  you
• 0:52
  the
• 0:52
  strategies
• 0:53
  for
• 0:53
  reaching
• 0:53
  financial
• 0:54
  freedom
• 0:55
  faster.
• 0:55
  Head
• 0:56
  to
• 0:56
  their
• 0:56
  website
• 0:56
  to
• 0:57
  learn
• 0:57
  more.
• 0:57
  Visit
• 0:58
  Enable
• 0:59
  Me.
• 0:59
  Today,
• 1:01
  I
• 1:01
  want
• 1:01
  to
• 1:01
  help
• 1:01
  as
• 1:02
  many
• 1:02
  people
• 1:02
  as
• 1:02
  possible
• 1:03
  reach
• 1:03
  financial
• 1:04
  freedom
• 1:04
  by
• 1:04
  taking
• 1:05
  control
• 1:05
  of
• 1:06
  their
• 1:06
  money.
• 1:06
  You
• 1:07
  can
• 1:07
  help
• 1:07
  me
• 1:07
  in
• 1:07
  that
• 1:07
  mission
• 1:08
  two
• 1:09
  really
• 1:09
  easy
• 1:09
  ways.
• 1:10
  First
• 1:10
  hit
• 1:11
  subscribe
• 1:11
  wherever
• 1:12
  you
• 1:12
  like
• 1:12
  to
• 1:12
  listen.
• 1:13
  YouTube,
• 1:13
  Spotify,
• 1:14
  Apple
• 1:14
  Podcasts
• 1:15
  or
• 1:15
  any
• 1:15
  other
• 1:16
  podcast
• 1:16
  player.
• 1:17
  Then
• 1:17
  send
• 1:18
  this
• 1:18
  episode
• 1:18
  to
• 1:19
  a
• 1:19
  friend
• 1:19
  so
• 1:19
  we
• 1:19
  can
• 1:20
  all
• 1:20
  level
• 1:20
  up
• 1:20
  together.
• 1:21
  Then
• 1:21
  the
• 1:22
  show
• 1:22
  grows
• 1:22
  and
• 1:22
  I
• 1:23
  can
• 1:23
  keep
• 1:23
  giving
• 1:23
  you
• 1:23
  the
• 1:24
  money
• 1:24
  info
• 1:24
  that
• 1:25
  makes
• 1:25
  a
• 1:25
  difference
• 1:26
  for
• 1:26
  your
• 1:26
  life.
• 1:27
  Okay,
• 1:27
  back
• 1:27
  to
• 1:28
  it.
• 1:29
  In
• 1:29
  the
• 1:29
  hot
• 1:29
  seat,
• 1:29
  Katie
• 1:30
  Wesney,
• 1:30
  national
• 1:31
  coaching
• 1:31
  lead
• 1:31
  at
• 1:31
  Enable
• 1:32
  Me.
• 1:32
  Congrats
• 1:32
  on
• 1:33
  your
• 1:33
  promotion.
• 1:34
  We
• 1:34
  love
• 1:34
  it.
• 1:35
  So
• 1:36
  I've
• 1:36
  got
• 1:36
  a
• 1:36
  great
• 1:36
  letter
• 1:36
  for
• 1:36
  you
• 1:37
  here.
• 1:37
  Hi,
• 1:37
  Francis.
• 1:38
  How
• 1:38
  real
• 1:39
  is
• 1:39
  the
• 1:39
  risk
• 1:39
  that
• 1:39
  future
• 1:40
  governments
• 1:40
  means
• 1:41
  test
• 1:41
  super
• 1:42
  or
• 1:42
  introduce
• 1:43
  a
• 1:43
  wealth
• 1:43
  tax?
• 1:44
  I'm
• 1:45
  trying
• 1:45
  to
• 1:45
  figure
• 1:45
  out
• 1:45
  how
• 1:45
  much
• 1:46
  to
• 1:46
  rely
• 1:46
  on
• 1:46
  super
• 1:47
  in
• 1:47
  my
• 1:47
  retirement
• 1:48
  planning.
• 1:48
  But
• 1:48
  if
• 1:48
  the
• 1:49
  rules
• 1:49
  could
• 1:49
  change,
• 1:50
  I'm
• 1:50
  not
• 1:50
  sure
• 1:50
  if
• 1:51
  it's
• 1:51
  safe
• 1:51
  to
• 1:51
  count
• 1:51
  on
• 1:51
  it.
• 1:52
  And
• 1:52
  besides,
• 1:52
  if
• 1:53
  saving
• 1:53
  more
• 1:53
  just
• 1:54
  makes
• 1:54
  you
• 1:54
  a
• 1:54
  target,
• 1:55
  what's
• 1:55
  the
• 1:55
  actual
• 1:56
  incentive?
• 1:57
  Few
• 1:57
  things
• 1:57
  wrapped
• 1:58
  up
• 1:58
  in
• 1:58
  this
• 1:58
  one.
• 1:58
  So
• 1:59
  let's
• 1:59
  start
• 1:59
  with.
• 1:59
  They
• 2:00
  want
• 2:00
  to
• 2:00
  know
• 2:00
  how
• 2:00
  much
• 2:00
  to
• 2:00
  rely
• 2:00
  on
• 2:01
  Super.
• 2:01
  What
• 2:01
  do
• 2:01
  you
• 2:02
  think?
• 2:02
  You
• 2:02
  must
• 2:02
  talk
• 2:02
  to
• 2:02
  people
• 2:02
  about
• 2:03
  this
• 2:03
  all
• 2:03
  the
• 2:03
  time.
• 2:03
  Yeah,
• 2:04
  we
• 2:04
  do.
• 2:04
  And
• 2:05
  I
• 2:05
  think
• 2:05
  the
• 2:05
  younger
• 2:06
  you
• 2:06
  are,
• 2:06
  the
• 2:06
  harder
• 2:07
  it
• 2:07
  is
• 2:07
  to
• 2:07
  rely
• 2:08
  on
• 2:08
  it
• 2:08
  as
• 2:08
  it
• 2:08
  is
• 2:09
  at
• 2:09
  the
• 2:09
  moment.
• 2:10
  And
• 2:11
  I
• 2:11
  think
• 2:11
  you
• 2:11
  treat
• 2:11
  it
• 2:12
  the
• 2:12
  older
• 2:13
  you
• 2:13
  are
• 2:13
  as
• 2:13
  a
• 2:13
  foundation,
• 2:15
  not
• 2:15
  a
• 2:16
  plan.
• 2:17
  Single
• 2:17
  people
• 2:18
  living
• 2:18
  alone
• 2:19
  get
• 2:19
  paid
• 2:20
  555
• 2:21
  after
• 2:22
  tax
• 2:22
  per
• 2:23
  week
• 2:23
  from
• 2:23
  Super.
• 2:24
  And
• 2:25
  if
• 2:25
  you're
• 2:25
  a
• 2:26
  couple,
• 2:26
  I
• 2:26
  think
• 2:26
  it's
• 2:26
  about
• 2:27
  854
• 2:28
  a
• 2:29
  week
• 2:30
  at
• 2:30
  the
• 2:30
  moment.
• 2:31
  That
• 2:31
  often
• 2:32
  doesn't
• 2:33
  cover
• 2:34
  everything
• 2:35
  as
• 2:35
  well.
• 2:35
  So
• 2:36
  we
• 2:36
  have
• 2:36
  to
• 2:36
  acknowledge
• 2:37
  that.
• 2:37
  I
• 2:38
  think
• 2:38
  The
• 2:38
  Massey
• 2:38
  University
• 2:39
  study
• 2:40
  found
• 2:41
  that
• 2:41
  that
• 2:42
  a
• 2:42
  single
• 2:43
  no
• 2:43
  frills
• 2:45
  metro
• 2:46
  budget
• 2:46
  is
• 2:47
  about
• 2:47
  705
• 2:49
  per
• 2:49
  week.
• 2:50
  That's
• 2:51
  already
• 2:51
  $150
• 2:53
  over
• 2:54
  the
• 2:54
  pension.
• 2:56
  And
• 2:56
  if
• 2:56
  you
• 2:57
  want
• 2:57
  a
• 2:57
  little
• 2:57
  bit
• 2:57
  more
• 2:58
  wiggle
• 2:58
  room
• 2:58
  in
• 2:59
  terms
• 2:59
  of
• 2:59
  the
• 2:59
  odd
• 3:00
  holiday,
• 3:00
  fixing
• 3:01
  a
• 3:01
  car
• 3:01
  that
• 3:02
  breaks
• 3:02
  down,
• 3:03
  maybe
• 3:03
  helping
• 3:03
  out
• 3:04
  family,
• 3:04
  that
• 3:05
  rises
• 3:05
  to
• 3:05
  about
• 3:05
  $250
• 3:07
  per
• 3:07
  week.
• 3:09
  And
• 3:09
  when
• 3:09
  you're
• 3:10
  talking
• 3:10
  about
• 3:11
  couples,
• 3:12
  it's
• 3:12
  about
• 3:13
  1,780
• 3:15
  per
• 3:15
  week
• 3:16
  and
• 3:16
  the
• 3:16
  pension's
• 3:17
  854.
• 3:18
  That's
• 3:19
  a
• 3:19
  huge
• 3:19
  shortfall.
• 3:20
  There
• 3:20
  is
• 3:20
  already
• 3:21
  a
• 3:21
  hole.
• 3:21
  So
• 3:22
  I
• 3:22
  think
• 3:22
  we
• 3:22
  need
• 3:22
  to
• 3:22
  acknowledge
• 3:23
  that.
• 3:24
  So
• 3:24
  we
• 3:25
  come
• 3:25
  back
• 3:25
  to
• 3:25
  what
• 3:26
  can
• 3:26
  we
• 3:26
  control
• 3:26
  and
• 3:27
  understanding
• 3:27
  the
• 3:28
  numbers
• 3:28
  and
• 3:28
  what
• 3:28
  you
• 3:29
  need
• 3:29
  to
• 3:29
  do
• 3:29
  going
• 3:29
  forward
• 3:30
  in
• 3:30
  terms
• 3:30
  of
• 3:30
  a
• 3:30
  plan.
• 3:31
  Well,
• 3:31
  exactly.
• 3:32
  I
• 3:32
  feel
• 3:32
  like
• 3:33
  that's
• 3:33
  a
• 3:33
  really
• 3:34
  tough
• 3:34
  part
• 3:35
  of
• 3:35
  this
• 3:35
  conversation,
• 3:36
  right?
• 3:36
  Where
• 3:36
  there
• 3:36
  is
• 3:37
  a
• 3:37
  reality
• 3:37
  of
• 3:38
  there
• 3:38
  are
• 3:39
  big
• 3:39
  levers
• 3:40
  that
• 3:40
  governments
• 3:41
  can
• 3:41
  pull
• 3:42
  and
• 3:42
  there
• 3:42
  are
• 3:42
  big
• 3:43
  changes
• 3:43
  that
• 3:43
  they
• 3:43
  may
• 3:44
  or
• 3:44
  may
• 3:44
  not
• 3:44
  make.
• 3:45
  They
• 3:45
  talk
• 3:45
  about
• 3:45
  them
• 3:45
  a
• 3:46
  lot.
• 3:46
  Some
• 3:46
  of
• 3:46
  them
• 3:46
  happen,
• 3:46
  some
• 3:47
  of
• 3:47
  them
• 3:47
  don't.
• 3:48
  And
• 3:48
  then
• 3:48
  there
• 3:48
  is
• 3:49
  the,
• 3:49
  the
• 3:49
  point
• 3:49
  of,
• 3:50
  well,
• 3:51
  we're
• 3:51
  the
• 3:51
  ones
• 3:51
  who
• 3:51
  are
• 3:52
  going
• 3:52
  to
• 3:52
  have
• 3:52
  to
• 3:52
  live
• 3:52
  it.
• 3:53
  We're
• 3:53
  the
• 3:53
  ones
• 3:54
  who
• 3:54
  carry
• 3:54
  the
• 3:54
  risk
• 3:55
  of
• 3:56
  then
• 3:56
  going
• 3:56
  through
• 3:57
  life
• 3:57
  with
• 3:57
  or
• 3:58
  without
• 3:58
  these
• 3:58
  things
• 3:59
  and
• 4:00
  controlling
• 4:02
  those
• 4:02
  things
• 4:02
  for
• 4:02
  ourself.
• 4:03
  I
• 4:03
  mean,
• 4:04
  how
• 4:04
  do
• 4:04
  you
• 4:04
  balance
• 4:05
  those
• 4:05
  things
• 4:06
  when
• 4:06
  you
• 4:06
  are
• 4:06
  helping
• 4:06
  clients
• 4:07
  and
• 4:07
  talking
• 4:07
  to
• 4:07
  them
• 4:07
  about
• 4:08
  their
• 4:08
  money?
• 4:08
  Look
• 4:09
  at
• 4:09
  both
• 4:09
  sides
• 4:09
  of
• 4:09
  the
• 4:10
  equation.
• 4:10
  Because
• 4:10
  I
• 4:11
  think
• 4:11
  there
• 4:11
  is
• 4:12
  a
• 4:12
  real
• 4:12
  need
• 4:13
  to
• 4:13
  have
• 4:13
  that
• 4:14
  better
• 4:14
  collective
• 4:15
  conversation
• 4:16
  in
• 4:16
  New
• 4:16
  Zealand
• 4:17
  in
• 4:17
  terms
• 4:17
  of
• 4:17
  what's
• 4:17
  sustainable.
• 4:19
  Cause
• 4:19
  the
• 4:19
  mass
• 4:19
  blows
• 4:20
  your
• 4:20
  mind
• 4:20
  in
• 4:21
  terms
• 4:21
  of
• 4:22
  an
• 4:22
  aging
• 4:22
  population.
• 4:23
  And
• 4:23
  what
• 4:24
  we're
• 4:24
  doing
• 4:24
  now
• 4:24
  likely
• 4:25
  is
• 4:25
  unsustainable
• 4:27
  as
• 4:27
  population
• 4:28
  changes.
• 4:29
  And
• 4:29
  you're
• 4:29
  never
• 4:29
  gonna
• 4:30
  have
• 4:30
  a
• 4:30
  plan
• 4:31
  based
• 4:31
  on
• 4:31
  government
• 4:32
  settings
• 4:33
  staying
• 4:33
  the
• 4:33
  same
• 4:33
  for
• 4:34
  30
• 4:34
  years
• 4:35
  as
• 4:35
  a
• 4:35
  collective.
• 4:36
  We
• 4:37
  need
• 4:37
  to
• 4:37
  be
• 4:37
  having
• 4:37
  a
• 4:37
  big
• 4:38
  debate,
• 4:38
  honestly,
• 4:39
  and
• 4:40
  asking
• 4:40
  questions
• 4:41
  like
• 4:41
  what
• 4:42
  happens
• 4:42
  to
• 4:42
  the
• 4:43
  vulnerable
• 4:43
  people
• 4:43
  that
• 4:44
  we
• 4:44
  might
• 4:44
  leave
• 4:44
  behind
• 4:45
  if
• 4:45
  we
• 4:45
  do
• 4:46
  get
• 4:46
  this
• 4:47
  wrong,
• 4:47
  what
• 4:48
  kind
• 4:48
  of
• 4:48
  society,
• 4:48
  what
• 4:49
  we
• 4:49
  want
• 4:49
  to
• 4:49
  be,
• 4:50
  what
• 4:50
  is
• 4:51
  fair.
• 4:52
  So
• 4:52
  I
• 4:53
  think
• 4:53
  we
• 4:53
  need
• 4:53
  to
• 4:53
  be
• 4:54
  asking
• 4:54
  those
• 4:55
  questions
• 4:55
  and
• 4:55
  answering
• 4:56
  them
• 4:56
  honestly.
• 4:58
  But
• 4:58
  at
• 4:58
  an
• 4:58
  individual
• 4:59
  level,
• 4:59
  when
• 5:00
  I'm
• 5:00
  sat
• 5:00
  in
• 5:00
  front
• 5:01
  of
• 5:01
  a
• 5:01
  client,
• 5:02
  we
• 5:02
  talk
• 5:02
  about
• 5:02
  what
• 5:03
  they
• 5:03
  can
• 5:03
  influence
• 5:04
  and
• 5:04
  their
• 5:05
  plan,
• 5:05
  which
• 5:05
  is
• 5:05
  what
• 5:06
  they
• 5:06
  do
• 5:06
  every
• 5:06
  day.
• 5:07
  Yeah,
• 5:07
  absolutely.
• 5:08
  And
• 5:08
  so
• 5:08
  there
• 5:08
  is
• 5:09
  that
• 5:09
  balance,
• 5:09
  right,
• 5:09
  of
• 5:09
  you
• 5:10
  might
• 5:10
  have
• 5:10
  something
• 5:10
  like
• 5:11
  the
• 5:11
  pension
• 5:12
  that
• 5:13
  could
• 5:13
  help.
• 5:14
  Then
• 5:14
  you
• 5:14
  have
• 5:15
  things
• 5:15
  like
• 5:16
  Kiwisaver,
• 5:17
  which
• 5:17
  you
• 5:17
  can
• 5:17
  save
• 5:17
  into
• 5:17
  on
• 5:18
  your
• 5:18
  own,
• 5:18
  and
• 5:19
  then
• 5:19
  you
• 5:19
  have
• 5:19
  things
• 5:19
  like
• 5:19
  your
• 5:20
  own
• 5:20
  outside
• 5:21
  savings
• 5:21
  and
• 5:21
  investments.
• 5:22
  How
• 5:23
  do
• 5:23
  you
• 5:23
  see
• 5:24
  those
• 5:24
  sorts
• 5:24
  of
• 5:25
  various
• 5:25
  factors?
• 5:25
  And
• 5:26
  if
• 5:26
  I've
• 5:26
  missed
• 5:26
  one
• 5:26
  Hit
• 5:27
  me
• 5:27
  with
• 5:27
  it.
• 5:27
  But
• 5:28
  how
• 5:28
  do
• 5:28
  you
• 5:28
  see
• 5:28
  those
• 5:28
  various
• 5:29
  factors
• 5:29
  interplaying
• 5:30
  with
• 5:30
  each
• 5:30
  other
• 5:30
  and
• 5:31
  what
• 5:31
  sort
• 5:31
  of
• 5:32
  emphasis
• 5:32
  you
• 5:32
  would
• 5:33
  put
• 5:33
  on
• 5:33
  each
• 5:33
  one?
• 5:34
  It's
• 5:34
  always
• 5:35
  a
• 5:35
  little
• 5:35
  bit
• 5:35
  of
• 5:36
  everything.
• 5:36
  You
• 5:36
  don't
• 5:37
  just
• 5:37
  do
• 5:37
  one
• 5:38
  thing.
• 5:38
  And
• 5:38
  I
• 5:39
  think
• 5:39
  it
• 5:39
  starts
• 5:39
  with
• 5:40
  ensuring
• 5:40
  that
• 5:41
  you
• 5:41
  have
• 5:41
  money
• 5:42
  left
• 5:42
  over
• 5:43
  every
• 5:43
  week.
• 5:43
  So
• 5:44
  that's
• 5:44
  quite
• 5:44
  simple.
• 5:45
  Well
• 5:45
  tricky
• 5:46
  in
• 5:46
  this
• 5:46
  environment
• 5:47
  actually
• 5:47
  to
• 5:48
  be
• 5:48
  honest,
• 5:48
  in
• 5:48
  terms
• 5:48
  of
• 5:49
  cost
• 5:49
  of
• 5:49
  living.
• 5:50
  But
• 5:50
  you
• 5:50
  have
• 5:50
  to
• 5:50
  ensure
• 5:51
  that
• 5:51
  you're
• 5:51
  working
• 5:52
  and
• 5:52
  that
• 5:53
  your
• 5:53
  income
• 5:54
  is
• 5:54
  more
• 5:54
  than
• 5:55
  your
• 5:55
  outgoing.
• 5:55
  So
• 5:55
  that
• 5:56
  that's
• 5:56
  the
• 5:56
  place
• 5:56
  you
• 5:56
  start.
• 5:57
  Cause
• 5:57
  that
• 5:58
  feeds
• 5:58
  everything
• 5:58
  thereafter.
• 6:00
  I
• 6:00
  think
• 6:01
  understanding
• 6:02
  that
• 6:03
  accommodation
• 6:04
  question
• 6:04
  in
• 6:05
  terms
• 6:05
  of
• 6:05
  whether
• 6:05
  it's
• 6:06
  right
• 6:06
  for
• 6:06
  you
• 6:06
  to
• 6:06
  buy
• 6:06
  a
• 6:07
  house
• 6:07
  or
• 6:07
  not.
• 6:08
  Cause
• 6:08
  that
• 6:08
  is
• 6:08
  a
• 6:08
  big
• 6:09
  cost
• 6:09
  in
• 6:09
  retirement.
• 6:10
  In
• 6:11
  terms
• 6:11
  of
• 6:11
  if
• 6:11
  you
• 6:12
  are
• 6:12
  carrying
• 6:12
  a
• 6:12
  mortgage
• 6:13
  or
• 6:13
  rent,
• 6:14
  you
• 6:14
  think
• 6:14
  $555
• 6:16
  for
• 6:17
  super
• 6:17
  at
• 6:17
  the
• 6:17
  moment.
• 6:18
  And
• 6:19
  having
• 6:19
  to
• 6:19
  rent.
• 6:20
  You
• 6:20
  can
• 6:21
  quite
• 6:21
  quickly
• 6:22
  see
• 6:22
  how
• 6:22
  the
• 6:22
  math
• 6:22
  ain't
• 6:23
  math.
• 6:23
  And
• 6:23
  I
• 6:24
  think
• 6:24
  we
• 6:24
  try
• 6:24
  and
• 6:24
  secure
• 6:25
  often
• 6:25
  that
• 6:25
  accommodation
• 6:26
  piece
• 6:26
  first
• 6:27
  to
• 6:28
  be
• 6:28
  saving
• 6:28
  for
• 6:28
  a
• 6:28
  house.
• 6:29
  Have
• 6:29
  a
• 6:29
  good
• 6:29
  debt
• 6:30
  reduction
• 6:30
  strategy
• 6:31
  around
• 6:31
  that
• 6:31
  house.
• 6:32
  And
• 6:32
  then
• 6:32
  we're
• 6:32
  thinking
• 6:33
  about
• 6:33
  what
• 6:33
  other
• 6:33
  levers
• 6:34
  do
• 6:34
  we
• 6:34
  pull.
• 6:34
  Kiwisaver
• 6:36
  really
• 6:36
  solid
• 6:36
  foundation.
• 6:37
  Particularly
• 6:38
  when
• 6:38
  you
• 6:38
  are
• 6:39
  employed.
• 6:40
  You
• 6:40
  know,
• 6:41
  3.5%
• 6:42
  now
• 6:42
  rising
• 6:43
  to
• 6:43
  4
• 6:43
  next
• 6:44
  year.
• 6:45
  I
• 6:45
  hope
• 6:45
  you're
• 6:46
  matching
• 6:46
  that
• 6:46
  in
• 6:47
  terms
• 6:47
  of
• 6:48
  if
• 6:48
  you
• 6:48
  are
• 6:48
  employed.
• 6:49
  So
• 6:50
  otherwise
• 6:50
  you're
• 6:50
  leaving
• 6:51
  money
• 6:51
  on
• 6:51
  the
• 6:51
  table.
• 6:52
  It's
• 6:52
  like
• 6:52
  giving
• 6:52
  up
• 6:52
  a
• 6:52
  pay
• 6:53
  rise.
• 6:53
  And
• 6:54
  in
• 6:54
  this
• 6:54
  environment
• 6:54
  a
• 6:54
  lot
• 6:55
  of
• 6:55
  people
• 6:55
  are
• 6:55
  getting
• 6:55
  pay
• 6:55
  rises
• 6:56
  much
• 6:56
  lower
• 6:57
  than
• 6:57
  that.
• 6:57
  So
• 6:57
  it's
• 6:58
  really
• 6:58
  worth
• 6:58
  having.
• 6:59
  Absolutely.
• 7:00
  If
• 7:00
  at
• 7:00
  all,
• 7:01
  if
• 7:01
  at
• 7:01
  all.
• 7:02
  So
• 7:02
  best
• 7:03
  be
• 7:03
  pulling
• 7:03
  the
• 7:03
  levers
• 7:04
  that
• 7:04
  are
• 7:04
  available
• 7:04
  to
• 7:05
  you.
• 7:05
  And
• 7:05
  then
• 7:06
  you're
• 7:06
  also
• 7:06
  looking
• 7:06
  well
• 7:07
  if
• 7:07
  there
• 7:07
  are
• 7:07
  surplus
• 7:08
  funds
• 7:08
  over
• 7:08
  and
• 7:08
  above
• 7:09
  that
• 7:09
  in
• 7:09
  terms
• 7:09
  of
• 7:10
  that
• 7:10
  really
• 7:10
  solid
• 7:11
  foundation.
• 7:11
  What
• 7:12
  else
• 7:12
  should
• 7:12
  I
• 7:12
  be
• 7:12
  doing?
• 7:13
  Should
• 7:13
  I
• 7:13
  be
• 7:13
  investing
• 7:14
  in
• 7:14
  funds
• 7:14
  or
• 7:14
  potentially
• 7:15
  another
• 7:15
  property?
• 7:16
  What
• 7:16
  is
• 7:17
  right
• 7:17
  for
• 7:17
  me
• 7:17
  and
• 7:18
  my
• 7:18
  situation
• 7:18
  and
• 7:19
  my
• 7:19
  goals
• 7:20
  and.
• 7:20
  And
• 7:20
  how
• 7:20
  long
• 7:20
  I
• 7:21
  have
• 7:21
  to
• 7:21
  retirement.
• 7:22
  That
• 7:22
  really
• 7:22
  plays
• 7:23
  into
• 7:23
  strategy.
• 7:24
  Because
• 7:24
  the
• 7:24
  closer
• 7:25
  you
• 7:25
  are
• 7:25
  to
• 7:25
  retirement,
• 7:26
  the
• 7:26
  less
• 7:26
  strategies
• 7:27
  available
• 7:28
  to
• 7:28
  you.
• 7:28
  You've
• 7:29
  got
• 7:29
  a
• 7:29
  shorter
• 7:29
  trajectory.
• 7:30
  So
• 7:30
  again,
• 7:30
  less
• 7:31
  likely
• 7:31
  to
• 7:31
  take
• 7:32
  on
• 7:32
  bigger
• 7:32
  risk.
• 7:33
  Yeah.
• 7:33
  And
• 7:34
  you
• 7:34
  have
• 7:34
  less
• 7:34
  time
• 7:35
  to
• 7:35
  do
• 7:35
  the
• 7:36
  heavy
• 7:36
  lifting
• 7:36
  for
• 7:37
  you.
• 7:37
  So
• 7:37
  you're
• 7:38
  gonna
• 7:38
  need
• 7:38
  more
• 7:38
  money.
• 7:39
  Yeah.
• 7:39
  And
• 7:39
  I
• 7:40
  think
• 7:40
  it's
• 7:40
  such
• 7:40
  a
• 7:40
  fallacy
• 7:41
  when
• 7:41
  people
• 7:41
  come
• 7:42
  and
• 7:43
  some
• 7:43
  people
• 7:43
  come
• 7:44
  and
• 7:44
  they're
• 7:44
  so
• 7:44
  proud
• 7:45
  to
• 7:45
  be
• 7:45
  mortgage
• 7:45
  free
• 7:46
  and
• 7:46
  it's
• 7:46
  amazing.
• 7:47
  But
• 7:48
  they've
• 7:48
  concentrated
• 7:49
  on
• 7:49
  just
• 7:49
  doing
• 7:50
  that
• 7:50
  and
• 7:50
  they're
• 7:51
  60
• 7:51
  and
• 7:51
  you
• 7:51
  can't
• 7:52
  eat
• 7:52
  your
• 7:52
  house.
• 7:53
  And
• 7:54
  there's
• 7:54
  an
• 7:54
  opportunity
• 7:55
  cost
• 7:55
  of
• 7:55
  just
• 7:55
  doing
• 7:56
  one
• 7:56
  thing
• 7:57
  in
• 7:57
  terms
• 7:57
  of
• 7:58
  not
• 7:58
  getting
• 7:58
  gains
• 7:59
  elsewhere.
• 7:59
  So
• 8:00
  I
• 8:00
  think
• 8:01
  to
• 8:01
  answer
• 8:01
  your
• 8:01
  questions,
• 8:02
  it's
• 8:02
  a
• 8:02
  little
• 8:03
  bit
• 8:03
  of
• 8:03
  everything,
• 8:03
  but
• 8:04
  it's
• 8:04
  kind
• 8:04
  of
• 8:04
  where
• 8:04
  do
• 8:04
  you
• 8:04
  lean?
• 8:05
  But
• 8:05
  you've
• 8:05
  got
• 8:05
  to
• 8:06
  have
• 8:06
  that
• 8:06
  solid
• 8:06
  foundation
• 8:07
  that's
• 8:07
  universal
• 8:08
  in
• 8:08
  terms
• 8:09
  of
• 8:09
  cash
• 8:09
  flow,
• 8:10
  debt
• 8:10
  management
• 8:11
  and
• 8:11
  making
• 8:12
  sure
• 8:12
  you're
• 8:12
  pulling
• 8:12
  the
• 8:13
  levers
• 8:13
  available
• 8:13
  to
• 8:14
  you,
• 8:14
  like
• 8:14
  the
• 8:14
  KiwiSaver
• 8:15
  piece,
• 8:15
  et
• 8:16
  cetera.
• 8:17
  Not
• 8:18
  so
• 8:18
  fun
• 8:18
  fact.
• 8:19
  When
• 8:19
  you
• 8:19
  take
• 8:19
  on
• 8:20
  a
• 8:20
  30
• 8:20
  year
• 8:20
  mortgage,
• 8:21
  you'll
• 8:22
  probably
• 8:22
  pay
• 8:22
  more
• 8:23
  than
• 8:23
  double
• 8:23
  what
• 8:23
  you
• 8:24
  originally
• 8:24
  borrowed
• 8:25
  because
• 8:25
  of
• 8:25
  the
• 8:26
  cost
• 8:26
  of
• 8:26
  interest.
• 8:27
  That's
• 8:28
  probably
• 8:28
  not
• 8:29
  the
• 8:29
  Kiwi
• 8:29
  dream
• 8:29
  you
• 8:30
  bought
• 8:30
  into
• 8:31
  the
• 8:31
  team
• 8:31
  at
• 8:31
  EnableMeet.
• 8:32
  Specialise
• 8:33
  in
• 8:33
  taking
• 8:33
  charge
• 8:34
  of
• 8:34
  your
• 8:34
  money
• 8:34
  and
• 8:35
  growing
• 8:35
  your
• 8:35
  wealth,
• 8:36
  including
• 8:37
  how
• 8:37
  to
• 8:37
  get
• 8:37
  rid
• 8:37
  of
• 8:38
  your
• 8:38
  mortgage
• 8:38
  faster.
• 8:39
  Book
• 8:39
  a
• 8:40
  consultation
• 8:40
  with
• 8:41
  an
• 8:41
  EnableMe
• 8:41
  financial
• 8:42
  advisor
• 8:42
  today
• 8:43
  by
• 8:43
  visiting
• 8:44
  Enable
• 8:45
  Me.
• 8:46
  It's
• 8:46
  interesting,
• 8:47
  as
• 8:47
  you
• 8:47
  say
• 8:47
  all
• 8:48
  that
• 8:48
  and
• 8:48
  I
• 8:49
  so
• 8:49
  agree,
• 8:49
  you've
• 8:50
  got
• 8:50
  to
• 8:50
  have
• 8:50
  some
• 8:50
  money
• 8:51
  coming
• 8:51
  in.
• 8:51
  This
• 8:52
  is
• 8:52
  why
• 8:52
  I
• 8:52
  always
• 8:52
  say
• 8:52
  your
• 8:53
  house
• 8:53
  might
• 8:53
  be
• 8:53
  an
• 8:53
  asset,
• 8:54
  it's
• 8:55
  not
• 8:55
  necessarily
• 8:55
  an
• 8:55
  investment
• 8:56
  unless
• 8:56
  you
• 8:57
  treat
• 8:57
  it
• 8:57
  a
• 8:57
  little
• 8:57
  differently.
• 8:58
  But
• 8:58
  if
• 8:58
  it's
• 8:59
  just
• 8:59
  the
• 8:59
  standard
• 8:59
  paid
• 9:00
  off
• 9:00
  house,
• 9:00
  not
• 9:00
  necessarily
• 9:01
  an
• 9:01
  investment,
• 9:02
  and
• 9:02
  you
• 9:02
  need
• 9:02
  investments
• 9:03
  that
• 9:03
  bring
• 9:04
  cash
• 9:05
  in,
• 9:05
  as
• 9:06
  this
• 9:06
  letter
• 9:06
  writer
• 9:06
  says,
• 9:07
  though
• 9:07
  they're
• 9:07
  worried
• 9:08
  about
• 9:08
  if
• 9:08
  something
• 9:09
  like
• 9:09
  a
• 9:09
  wealth
• 9:09
  tax
• 9:10
  comes
• 9:10
  in,
• 9:10
  that
• 9:11
  they
• 9:11
  get
• 9:12
  penalized
• 9:13
  for
• 9:13
  working
• 9:14
  hard
• 9:14
  and
• 9:14
  trying
• 9:14
  to
• 9:14
  get
• 9:14
  themselves
• 9:15
  ahead.
• 9:15
  What
• 9:15
  do
• 9:15
  you
• 9:15
  think
• 9:16
  of
• 9:16
  that
• 9:16
  argument?
• 9:16
  It
• 9:17
  frustrates
• 9:17
  me.
• 9:18
  The
• 9:18
  settings
• 9:19
  will
• 9:19
  change.
• 9:19
  They
• 9:20
  will.
• 9:21
  I
• 9:21
  think
• 9:21
  we're
• 9:21
  naive
• 9:22
  to
• 9:22
  think
• 9:22
  that
• 9:22
  they
• 9:22
  won't.
• 9:23
  But
• 9:24
  even
• 9:24
  if
• 9:24
  means
• 9:25
  testing
• 9:25
  comes
• 9:26
  in,
• 9:26
  there
• 9:27
  will
• 9:27
  be
• 9:27
  thresholds.
• 9:28
  And
• 9:30
  I
• 9:30
  think
• 9:30
  if
• 9:30
  you
• 9:30
  have
• 9:31
  saved
• 9:31
  and
• 9:32
  grown
• 9:32
  wealth
• 9:33
  and
• 9:33
  you
• 9:33
  don't
• 9:34
  need
• 9:35
  a
• 9:35
  government
• 9:36
  contribution
• 9:37
  to
• 9:37
  live
• 9:38
  in
• 9:38
  retirement,
• 9:39
  in
• 9:39
  my
• 9:39
  mind,
• 9:39
  you
• 9:40
  won,
• 9:40
  you
• 9:41
  won.
• 9:41
  That
• 9:41
  is
• 9:42
  the
• 9:42
  prize
• 9:42
  that
• 9:42
  you
• 9:43
  don't
• 9:43
  need
• 9:43
  that.
• 9:44
  And
• 9:45
  I
• 9:45
  think
• 9:45
  the
• 9:45
  fear
• 9:46
  of
• 9:47
  setting
• 9:47
  changes
• 9:49
  or
• 9:49
  people
• 9:50
  taking
• 9:51
  money
• 9:51
  off
• 9:51
  you,
• 9:53
  well,
• 9:53
  that's
• 9:54
  just
• 9:54
  an
• 9:54
  excuse
• 9:54
  to
• 9:55
  do
• 9:55
  nothing.
• 9:55
  And
• 9:56
  then
• 9:56
  you
• 9:56
  absolutely
• 9:57
  seal
• 9:58
  your
• 9:58
  fate
• 9:59
  in
• 9:59
  terms
• 9:59
  of
• 10:00
  what
• 10:00
  comes
• 10:00
  next
• 10:01
  and
• 10:01
  you
• 10:02
  are
• 10:02
  putting
• 10:03
  your
• 10:03
  fate
• 10:03
  in
• 10:04
  politicians
• 10:05
  agreeing
• 10:06
  the
• 10:06
  settings
• 10:07
  in
• 10:07
  time.
• 10:08
  Autonomy
• 10:09
  is
• 10:09
  important.
• 10:10
  Control
• 10:11
  what
• 10:11
  you
• 10:11
  do
• 10:12
  and
• 10:12
  ensure
• 10:12
  you
• 10:13
  have
• 10:13
  a
• 10:13
  plan
• 10:14
  and
• 10:14
  you
• 10:14
  are
• 10:14
  growing
• 10:15
  your
• 10:15
  wealth
• 10:16
  to
• 10:16
  enable
• 10:16
  you
• 10:17
  not
• 10:17
  having
• 10:17
  to
• 10:18
  rely
• 10:18
  on
• 10:18
  the
• 10:19
  government
• 10:19
  in
• 10:19
  future.
• 10:20
  That
• 10:20
  is
• 10:20
  the
• 10:21
  prize.
• 10:21
  I
• 10:21
  could
• 10:22
  not
• 10:22
  agree
• 10:22
  more.
• 10:22
  I
• 10:23
  really
• 10:23
  could
• 10:23
  not
• 10:23
  agree
• 10:23
  more.
• 10:24
  And
• 10:24
  I
• 10:24
  think
• 10:25
  the
• 10:25
  way
• 10:25
  you've
• 10:26
  framed
• 10:26
  it
• 10:26
  there
• 10:26
  is
• 10:26
  so
• 10:27
  important.
• 10:27
  It's
• 10:27
  a
• 10:27
  little
• 10:27
  bit
• 10:28
  like
• 10:28
  when
• 10:28
  people
• 10:28
  talk
• 10:28
  to
• 10:28
  me
• 10:28
  about,
• 10:29
  oh,
• 10:29
  if
• 10:30
  I
• 10:30
  earn
• 10:30
  more,
• 10:31
  I'll
• 10:31
  pay
• 10:31
  more
• 10:31
  tax.
• 10:32
  And
• 10:33
  I,
• 10:33
  I
• 10:33
  get
• 10:34
  it.
• 10:34
  It's
• 10:35
  often
• 10:36
  people
• 10:36
  will
• 10:36
  look
• 10:36
  at
• 10:36
  the
• 10:36
  pay
• 10:37
  slip
• 10:37
  and
• 10:37
  be
• 10:37
  like,
• 10:37
  I
• 10:37
  lost
• 10:38
  how
• 10:38
  much
• 10:38
  to
• 10:38
  tax?
• 10:39
  And
• 10:39
  you
• 10:39
  can
• 10:39
  say,
• 10:39
  oh,
• 10:39
  you
• 10:40
  drive
• 10:40
  on
• 10:40
  Roads.
• 10:40
  Oh,
• 10:40
  you
• 10:41
  get
• 10:41
  health
• 10:41
  care,
• 10:41
  yada
• 10:41
  yada.
• 10:42
  Yeah,
• 10:42
  when
• 10:42
  you're
• 10:42
  looking
• 10:42
  at
• 10:43
  the,
• 10:43
  the
• 10:43
  pay
• 10:43
  slip,
• 10:43
  that's
• 10:44
  not
• 10:44
  what
• 10:44
  we're
• 10:44
  thinking,
• 10:44
  it's
• 10:45
  not
• 10:45
  how
• 10:45
  it
• 10:45
  feels.
• 10:46
  But
• 10:47
  at
• 10:47
  the
• 10:47
  same
• 10:47
  time,
• 10:48
  like
• 10:48
  say
• 10:48
  you're
• 10:48
  paying
• 10:49
  30%
• 10:50
  tax
• 10:50
  on
• 10:50
  something,
• 10:51
  you've
• 10:51
  still
• 10:52
  got
• 10:52
  the
• 10:52
  other
• 10:52
  60%.
• 10:53
  You,
• 10:54
  you're
• 10:54
  still
• 10:54
  ahead
• 10:54
  of
• 10:55
  where
• 10:55
  you
• 10:55
  were.
• 10:56
  Are
• 10:56
  we
• 10:56
  going
• 10:57
  to
• 10:57
  cut
• 10:57
  off
• 10:58
  our
• 10:58
  nose
• 10:58
  despite
• 10:58
  our
• 10:59
  face?
• 10:59
  You're
• 11:00
  still
• 11:00
  ahead.
• 11:00
  You
• 11:01
  are,
• 11:01
  you
• 11:01
  are.
• 11:02
  And
• 11:02
  make
• 11:02
  the
• 11:02
  most
• 11:03
  of
• 11:03
  it
• 11:03
  because
• 11:03
  you
• 11:04
  only
• 11:04
  control
• 11:05
  what
• 11:05
  you
• 11:05
  control
• 11:06
  and
• 11:06
  what
• 11:06
  you
• 11:07
  bring
• 11:07
  in.
• 11:07
  And
• 11:07
  it's
• 11:08
  that
• 11:08
  classic.
• 11:08
  I
• 11:08
  see
• 11:09
  so
• 11:09
  many
• 11:09
  self
• 11:09
  employed
• 11:10
  people
• 11:10
  come
• 11:10
  to
• 11:10
  me
• 11:11
  and
• 11:11
  they're
• 11:11
  like,
• 11:12
  oh,
• 11:12
  I'm
• 11:12
  not
• 11:12
  cutting
• 11:12
  back
• 11:13
  on
• 11:13
  that
• 11:13
  tax
• 11:13
  deductible.
• 11:14
  The
• 11:14
  tax
• 11:14
  deductible
• 11:15
  does
• 11:15
  not
• 11:16
  mean
• 11:16
  it's
• 11:16
  free.
• 11:17
  You
• 11:18
  are
• 11:18
  still
• 11:18
  needlessly
• 11:19
  spending
• 11:19
  money,
• 11:20
  you're
• 11:20
  just
• 11:20
  getting
• 11:20
  that
• 11:20
  tax
• 11:21
  benefit
• 11:21
  back,
• 11:21
  you've
• 11:22
  still
• 11:22
  lost
• 11:22
  the
• 11:22
  money.
• 11:23
  So
• 11:23
  again,
• 11:25
  classic,
• 11:25
  isn't
• 11:25
  it?
• 11:26
  Just
• 11:26
  in
• 11:26
  terms
• 11:26
  of
• 11:26
  how
• 11:26
  we
• 11:27
  justify
• 11:27
  things
• 11:27
  in
• 11:28
  our
• 11:28
  head,
• 11:29
  we
• 11:29
  all
• 11:30
  have
• 11:30
  a
• 11:30
  collective
• 11:31
  responsibility
• 11:32
  to
• 11:33
  use
• 11:33
  the
• 11:33
  resources
• 11:34
  that
• 11:34
  we
• 11:34
  have
• 11:34
  within
• 11:35
  us
• 11:36
  to
• 11:37
  contribute
• 11:38
  to
• 11:38
  us,
• 11:39
  our
• 11:39
  families,
• 11:40
  but
• 11:40
  also
• 11:40
  for
• 11:41
  the
• 11:41
  greater
• 11:41
  good.
• 11:42
  And
• 11:43
  again,
• 11:43
  tax
• 11:44
  can
• 11:44
  be
• 11:45
  annoying,
• 11:45
  I
• 11:45
  appreciate
• 11:46
  that,
• 11:46
  but
• 11:46
  it
• 11:46
  facilitates
• 11:47
  a
• 11:47
  whole
• 11:48
  other
• 11:48
  layer
• 11:48
  in
• 11:49
  society.
• 11:50
  So
• 11:50
  again,
• 11:51
  control
• 11:51
  the
• 11:51
  controllables.
• 11:52
  You
• 11:52
  can't
• 11:52
  control
• 11:53
  the
• 11:53
  tax
• 11:53
  settings,
• 11:54
  you
• 11:54
  can't
• 11:54
  control
• 11:55
  what
• 11:55
  super
• 11:55
  looks
• 11:56
  like.
• 11:56
  It's
• 11:56
  almost
• 11:57
  like
• 11:57
  plan
• 11:57
  for
• 11:58
  it
• 11:58
  not
• 11:58
  to
• 11:59
  be
• 11:59
  there.
• 11:59
  And
• 11:59
  again,
• 12:00
  anything
• 12:00
  else
• 12:00
  is
• 12:01
  cream.
• 12:01
  I
• 12:01
  look
• 12:02
  at
• 12:02
  it
• 12:02
  and
• 12:02
  I
• 12:02
  think,
• 12:02
  you
• 12:02
  know,
• 12:02
  yeah,
• 12:03
  things
• 12:03
  could
• 12:03
  change.
• 12:04
  Things
• 12:04
  will
• 12:04
  change.
• 12:05
  Yes,
• 12:05
  actually,
• 12:05
  good
• 12:06
  point.
• 12:06
  Yeah,
• 12:06
  they
• 12:07
  will.
• 12:07
  But
• 12:07
  at
• 12:08
  the
• 12:08
  same
• 12:08
  time
• 12:08
  it's
• 12:09
  just
• 12:09
  like
• 12:09
  they
• 12:10
  could
• 12:10
  change
• 12:10
  in
• 12:10
  all
• 12:10
  sorts
• 12:10
  of
• 12:11
  directions
• 12:12
  and
• 12:12
  you
• 12:12
  might
• 12:13
  be
• 12:13
  penalized
• 12:13
  on
• 12:13
  this,
• 12:13
  you
• 12:14
  might
• 12:14
  be
• 12:14
  not
• 12:14
  penalized
• 12:15
  on
• 12:15
  that.
• 12:16
  At
• 12:16
  the
• 12:16
  end
• 12:16
  of
• 12:17
  the
• 12:17
  day,
• 12:17
  all
• 12:17
  you
• 12:17
  can
• 12:18
  do
• 12:18
  is
• 12:18
  protect
• 12:18
  your
• 12:18
  fiefdom
• 12:19
  as
• 12:19
  best
• 12:19
  you
• 12:19
  can.
• 12:20
  And
• 12:20
  waiting
• 12:20
  for
• 12:20
  someone
• 12:21
  else
• 12:21
  to
• 12:21
  do
• 12:21
  it
• 12:22
  is
• 12:22
  to
• 12:22
  me
• 12:22
  the
• 12:23
  riskiest
• 12:23
  move
• 12:23
  of
• 12:24
  them
• 12:24
  all.
• 12:24
  Yeah,
• 12:24
  you're
• 12:25
  essentially
• 12:25
  banking
• 12:26
  a
• 12:26
  loss.
• 12:26
  You
• 12:27
  are
• 12:27
  essentially
• 12:28
  that.
• 12:28
  And
• 12:28
  you're
• 12:28
  putting
• 12:28
  your
• 12:29
  fate
• 12:29
  in
• 12:29
  someone
• 12:30
  else's
• 12:30
  hands
• 12:31
  and
• 12:31
  that
• 12:31
  does
• 12:32
  not
• 12:32
  feel
• 12:32
  like
• 12:33
  what
• 12:33
  anyone
• 12:34
  should
• 12:34
  be
• 12:34
  doing.
• 12:35
  Yeah,
• 12:35
  and
• 12:35
  I
• 12:36
  mean
• 12:36
  as
• 12:36
  much
• 12:36
  as,
• 12:37
  you
• 12:37
  know,
• 12:37
  all
• 12:37
  the
• 12:37
  love
• 12:37
  in
• 12:37
  the
• 12:37
  world
• 12:37
  to
• 12:38
  politicians,
• 12:38
  they
• 12:39
  do
• 12:39
  a
• 12:39
  tough
• 12:39
  job.
• 12:40
  At
• 12:40
  the
• 12:40
  same
• 12:40
  time,
• 12:40
  I
• 12:40
  don't
• 12:41
  trust
• 12:41
  any
• 12:41
  of
• 12:41
  them.
• 12:42
  Do
• 12:42
  you
• 12:42
  ever
• 12:42
  watch
• 12:43
  any
• 12:43
  of
• 12:43
  the
• 12:43
  debates
• 12:43
  around?
• 12:44
  I
• 12:44
  mean
• 12:44
  just
• 12:45
  recently
• 12:45
  we
• 12:46
  saw
• 12:46
  Winston
• 12:46
  Peters
• 12:47
  saying
• 12:47
  he
• 12:47
  wants
• 12:48
  to
• 12:48
  change
• 12:48
  Kiwisaver.
• 12:49
  And
• 12:50
  God
• 12:50
  forbid
• 12:51
  that
• 12:51
  I
• 12:51
  be
• 12:51
  agreeing
• 12:52
  with
• 12:52
  Winston
• 12:52
  Peters
• 12:53
  in
• 12:53
  a
• 12:53
  public
• 12:53
  forum.
• 12:55
  Who
• 12:55
  would
• 12:55
  have
• 12:55
  thought,
• 12:56
  right?
• 12:57
  Stopped
• 12:58
  clocks,
• 12:58
  et
• 12:59
  cetera.
• 12:59
  Yeah,
• 13:01
  I
• 13:01
  know
• 13:01
  it's
• 13:02
  blowing
• 13:02
  my
• 13:02
  mind
• 13:02
  here,
• 13:03
  but
• 13:03
  I'm
• 13:03
  just
• 13:04
  so
• 13:04
  relieved
• 13:04
  to
• 13:04
  hear
• 13:05
  a
• 13:05
  politician
• 13:05
  for
• 13:05
  once
• 13:06
  adding
• 13:06
  to
• 13:06
  KiwiSaver,
• 13:07
  because
• 13:07
  we
• 13:07
  have
• 13:08
  seen
• 13:08
  it
• 13:08
  systematically
• 13:09
  stripped
• 13:09
  back
• 13:10
  over
• 13:10
  years
• 13:10
  and
• 13:11
  years
• 13:11
  and
• 13:11
  years.
• 13:11
  So
• 13:11
  to
• 13:11
  even
• 13:12
  have
• 13:12
  someone
• 13:12
  saying,
• 13:12
  hey,
• 13:12
  maybe
• 13:13
  we
• 13:13
  should
• 13:13
  be
• 13:13
  adding
• 13:13
  to
• 13:13
  it,
• 13:13
  I'm
• 13:14
  like,
• 13:14
  I'll
• 13:14
  take
• 13:15
  it.
• 13:15
  Do
• 13:15
  you
• 13:16
  watch
• 13:16
  any
• 13:16
  of
• 13:16
  these
• 13:16
  sort
• 13:16
  of
• 13:16
  debates
• 13:17
  around
• 13:18
  changing
• 13:18
  the
• 13:18
  age
• 13:19
  or
• 13:19
  means
• 13:19
  testing
• 13:20
  or
• 13:20
  changing
• 13:20
  Kiwisaver?
• 13:21
  And
• 13:22
  I
• 13:22
  assume
• 13:22
  you
• 13:23
  would
• 13:23
  wait
• 13:23
  until
• 13:23
  things
• 13:23
  come
• 13:24
  into
• 13:24
  force,
• 13:24
  but
• 13:25
  do
• 13:25
  you
• 13:25
  watch
• 13:25
  any
• 13:25
  of
• 13:25
  these?
• 13:26
  Does
• 13:26
  any
• 13:27
  of
• 13:27
  it
• 13:27
  change
• 13:28
  the
• 13:28
  advice
• 13:28
  you
• 13:28
  give
• 13:28
  to
• 13:28
  your
• 13:29
  clients?
• 13:29
  None
• 13:29
  of
• 13:29
  it.
• 13:30
  Interesting.
• 13:30
  None
• 13:31
  of
• 13:31
  it.
• 13:31
  None
• 13:31
  of
• 13:31
  it.
• 13:32
  We're
• 13:32
  never
• 13:32
  relying
• 13:33
  on
• 13:33
  government
• 13:34
  settings,
• 13:35
  as
• 13:35
  I
• 13:35
  said,
• 13:35
  to
• 13:36
  stay
• 13:36
  the
• 13:36
  same
• 13:36
  for
• 13:36
  the
• 13:36
  next
• 13:37
  30
• 13:37
  years
• 13:38
  to
• 13:38
  execute
• 13:38
  on
• 13:38
  a
• 13:39
  plan.
• 13:39
  And
• 13:40
  I'm
• 13:40
  actually
• 13:40
  grateful
• 13:41
  that
• 13:41
  people
• 13:41
  are
• 13:42
  talking
• 13:42
  about
• 13:42
  it.
• 13:42
  We
• 13:43
  need
• 13:43
  to
• 13:43
  be
• 13:44
  talking
• 13:44
  about
• 13:44
  it
• 13:44
  more.
• 13:45
  The
• 13:45
  super
• 13:46
  question,
• 13:46
  it
• 13:46
  has
• 13:47
  to
• 13:47
  be
• 13:47
  sustainable
• 13:48
  and
• 13:49
  fixing
• 13:50
  it
• 13:50
  sooner
• 13:50
  rather
• 13:50
  than
• 13:50
  later
• 13:51
  just
• 13:51
  means
• 13:51
  that
• 13:51
  we
• 13:52
  have
• 13:52
  that
• 13:52
  good
• 13:53
  kind
• 13:53
  of
• 13:53
  tailwind
• 13:54
  in
• 13:54
  terms
• 13:55
  of
• 13:55
  affecting
• 13:56
  change,
• 13:57
  so
• 13:57
  people
• 13:57
  aren't
• 13:58
  upended
• 13:59
  with
• 14:00
  quick
• 14:00
  change,
• 14:01
  which
• 14:01
  might
• 14:01
  be
• 14:02
  necessary
• 14:02
  in
• 14:02
  the
• 14:03
  future.
• 14:03
  I
• 14:03
  think
• 14:03
  it's
• 14:03
  easy
• 14:04
  to
• 14:05
  be
• 14:05
  complacent
• 14:07
  and
• 14:07
  when
• 14:08
  the
• 14:08
  headlines
• 14:09
  are
• 14:09
  screaming
• 14:10
  that
• 14:10
  super
• 14:11
  is
• 14:11
  changing,
• 14:11
  I
• 14:12
  think
• 14:12
  people
• 14:13
  sit
• 14:13
  up
• 14:13
  and
• 14:13
  they
• 14:14
  pay
• 14:14
  attention
• 14:15
  and
• 14:15
  I
• 14:15
  want
• 14:15
  them
• 14:15
  to
• 14:16
  pay
• 14:16
  attention
• 14:17
  because
• 14:17
  that's
• 14:17
  when
• 14:18
  you
• 14:18
  can
• 14:18
  take
• 14:18
  action
• 14:19
  and
• 14:19
  think
• 14:19
  about
• 14:19
  what
• 14:20
  you
• 14:20
  can
• 14:20
  control.
• 14:21
  So
• 14:21
  I
• 14:21
  am
• 14:22
  grateful.
• 14:22
  But
• 14:23
  you've
• 14:23
  got
• 14:23
  to
• 14:24
  use
• 14:24
  that
• 14:24
  attention
• 14:26
  in
• 14:26
  terms
• 14:26
  of
• 14:27
  affecting
• 14:27
  change
• 14:28
  and
• 14:28
  doing
• 14:29
  something
• 14:29
  in
• 14:29
  terms
• 14:29
  of
• 14:29
  your
• 14:30
  own
• 14:30
  strategy
• 14:30
  and
• 14:31
  plan.
• 14:32
  Understand
• 14:32
  your
• 14:33
  number.
• 14:33
  What
• 14:33
  do
• 14:34
  you
• 14:34
  need
• 14:34
  in
• 14:34
  retirement?
• 14:35
  Are
• 14:35
  you
• 14:35
  on
• 14:35
  track
• 14:35
  or
• 14:36
  not?
• 14:36
  That
• 14:36
  is
• 14:37
  a
• 14:37
  really
• 14:37
  good
• 14:37
  place
• 14:38
  to
• 14:38
  start.
• 14:39
  You're
• 14:39
  speaking
• 14:40
  my
• 14:40
  language
• 14:40
  as
• 14:40
  ever.
• 14:41
  Thank
• 14:41
  you
• 14:41
  so
• 14:41
  much.
• 14:41
  Katie
• 14:42
  Wesley
• 14:42
  from
• 14:43
  Enable
• 14:43
  Me
• 14:43
  Now.
• 14:44
  If
• 14:44
  you
• 14:44
  have
• 14:44
  a
• 14:44
  question
• 14:45
  about
• 14:45
  anything,
• 14:45
  everything
• 14:46
  to
• 14:46
  do
• 14:46
  with
• 14:46
  money.
• 14:46
  We
• 14:47
  love
• 14:47
  getting
• 14:47
  Katie
• 14:48
  in
• 14:48
  here.
• 14:48
  So
• 14:48
  any
• 14:48
  excuse,
• 14:49
  send
• 14:50
  them
• 14:50
  through
• 14:50
  the
• 14:50
  email
• 14:50
  as
• 14:51
  askranciscook
• 14:52
  co
• 14:53
  nz.
• 14:54
  We'll
• 14:54
  get
• 14:54
  under
• 14:54
  the
• 14:54
  skin
• 14:55
  of
• 14:55
  your
• 14:55
  questions
• 14:55
  for
• 14:55
  you.
• 14:56
  Until
• 14:56
  next
• 14:56
  time,
• 14:57
  have
• 14:57
  a
• 14:57
  great
• 14:57
  day.
• 14:59
  This
• 15:00
  podcast
• 15:00
  can
• 15:00
  only
• 15:01
  give
• 15:01
  you
• 15:01
  general
• 15:01
  information
• 15:02
  about
• 15:02
  how
• 15:02
  things
• 15:03
  work
• 15:03
  in
• 15:03
  most
• 15:04
  situations.
• 15:04
  Situations.
• 15:05
  It's
• 15:05
  not
• 15:05
  individual
• 15:06
  financial
• 15:06
  advice.
• 15:07
  If
• 15:07
  you're
• 15:08
  after
• 15:08
  that.
• 15:08
  A
• 15:08
  financial
• 15:09
  advisor
• 15:09
  is
• 15:10
  always
• 15:10
  the
• 15:10
  best
• 15:10
  bet.