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How This 24 Year Old Without a Degree Earns $180k a Year (and Is on Track to Retire at 50) · She's On The Money

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Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
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Speaker 1: woman and I'm here to acknowledge country t Glenn Young
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Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka nian Ar gay
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Speaker 1: In Nimbina, yakarum jar dominyamiga Umagahawakaman damon Imlan Wumba, bang
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Speaker 1: Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
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Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
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Speaker 1: We thank I acknowledge and respect the Aberiginal people's land
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Speaker 1: that we're gathering on today. Take pleasure in all the
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Speaker 1: land and respect all that you see. She's on the
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Speaker 1: Money podcast acknowledges culture, country, community and connections, bringing you
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Speaker 1: the tools, knowledge and resources for you to thrive.
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Speaker 2: She's on the Money. She's on the Money.
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Speaker 3: Hello, and welcome to She's on the Money, the podcast
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Speaker 3: of let's you be pervy about other people's money habits
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Speaker 3: for educational purposes of course, Welcome back to another one
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Speaker 3: of our money daries, brought to you by sky Wealth,
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Speaker 3: where we get to talk with one of our incredible
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Speaker 3: She's on the Money community members all about their journey.
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Speaker 3: Let's jump straight into it, because this week I got
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Speaker 3: an email and it sounded exactly like this, literally like this, Hi,
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Speaker 3: she's on the money. I'm about to settle on my
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Speaker 3: second property by myself that I bought off the plan
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Speaker 3: four years in the making. The first property I bought
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Speaker 3: was a roller coaster of buying with a friend and
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Speaker 3: then having a fallout, and then buying her out while
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Speaker 3: the friendship was falling apart. I began my finance education
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Speaker 3: and investing journey shortly after I turned eighteen, and while
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Speaker 3: I am a relatively high income earner, it's due to
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Speaker 3: this education that I am set to have one hundred
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Speaker 3: thousand dollars in super by the time I am twenty five,
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Speaker 3: and I'm hoping to fund my entire retirement by the
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Speaker 3: age of fifty money diarrest, what the hell? Yeah, like
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Speaker 3: so cool, But.
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Speaker 1: You're a baby.
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Speaker 3: You're twenty four. You're gonna have one hundred grand in
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Speaker 3: super by twenty five.
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Speaker 2: I'm twenty three, but yeah, it's actually my birthday tomorrow,
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Speaker 2: so almost.
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Speaker 3: So you're basically twenty four and then giving yourself literally
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Speaker 3: twelve months from tomorrow, you're gonna have one hundred grand
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Speaker 3: in super that's the plan. That is crazy. I need
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Speaker 3: to know so much more about this before we get
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Speaker 3: their backtrack backtrack money dis If I asked you to
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Speaker 3: give yourself a money grade from A three to F,
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Speaker 3: what grade would you give yourself?
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Speaker 2: Oh? Like, I solid B at the moment. That's a B.
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Speaker 4: Is it?
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Speaker 3: Alright? Let's learn a little bit more about it. Can
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Speaker 3: you tell me a little bit more about your money story.
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Speaker 2: Yeah? So I grew up in a single parent household.
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Speaker 2: It was my sister, my mum, and myself, and I
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Speaker 2: don't really think we ever talked about money growing up.
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Speaker 2: I remember if mum got like a good tax return
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Speaker 2: or a bonus, we'd always get a little treat out
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Speaker 2: of that. But outside of that, we never really had
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Speaker 2: any major expenses or like holidays or anything like that.
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Speaker 2: It just wasn't really something we spoke about. And I
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Speaker 2: didn't think we were well off or poor. I just
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Speaker 2: didn't really think about it at all. It would have
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Speaker 2: been my sixteenth or seventeenth birthday. I actually got given
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Speaker 2: two copies of The Barefoot Investor by two different people.
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Speaker 3: I love that you've surrounded me people who want you
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Speaker 3: to be financially successful icon.
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Speaker 2: Yeah, and then I remember reading it overnight and I
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Speaker 2: started working at fourteen and six months and I had
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Speaker 2: to get mum's permission because she had to sign a
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Speaker 2: form to say I was allowed.
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Speaker 3: To work three months early. Queen.
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Speaker 2: Yeah, I wanted to go on a trip with school
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Speaker 2: and like it was an international trip, and Mum was like, well,
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Speaker 2: you have to pay for yourself or pay for half
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Speaker 2: food or something like that. So I had to go
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Speaker 2: get a job. I didn't end up going on the trip.
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Speaker 3: But it taught you some work ethic along the way.
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Speaker 2: Oh for sure. Since then, I've not been unemployed. So
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Speaker 2: finished high school, didn't go to UNI. Mum said that's fine,
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Speaker 2: but you have to go get a real job. Maccus
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Speaker 2: doesn't count. And then went into a customer service role
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Speaker 2: in my current company, and dance arounds from there.
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Speaker 3: So customer service and you've kind of bounced around from there.
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Speaker 3: Can we go back a little bit. I'm going to
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Speaker 3: get into what you do for work after this. In
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Speaker 3: your money, Darry, you said you're about to settle on
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Speaker 3: your second property. Do not tell me about that yet.
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Speaker 3: I actually want to know about the first one, the
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Speaker 3: juicy one, the one that's probably full of gossip, like,
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Speaker 3: let's go yes, first property you bought was a roller
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Speaker 3: coaster of buying with a friend, then having a falling out.
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Speaker 3: When did you buy, how did you buy? Why did
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Speaker 3: you buy with a friend? Tell us all the goss.
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Speaker 2: Yeah, So it actually kind of linked to the second one.
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Speaker 2: So I put the deposit off the plan four years ago,
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Speaker 2: and then it was all these delays and I expected it.
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Speaker 2: I'd been told about that, but it was just taking
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Speaker 2: a little longer than I'd liked. And I was living
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Speaker 2: with my sister and her partner in a rental and
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Speaker 2: I was just really sick of renting, and I was
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Speaker 2: looking at buying a place by myself and having my
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Speaker 2: friend move in with me. And then the agreement was
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Speaker 2: that when the second place came up, I would go
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Speaker 2: to that and she would stay in the first place
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Speaker 2: and continue to reunt off me, probably get a house
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Speaker 2: made in and go from there. And then her dad
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Speaker 2: kind of suggested, hey, why don't you buy together. It'll
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Speaker 2: increase your borrowing capacity and you'll be able to get
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Speaker 2: like a more suitable place. And I was a little
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Speaker 2: bit hesitant, just because I had done so much self education,
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Speaker 2: and I didn't know what her kind of levels or
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Speaker 2: understanding were, and so I said, look, if you can
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Speaker 2: look into everything yourself and kind of educate yourself and
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Speaker 2: then we'll come back and have a conversation on what
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Speaker 2: this actually entails and like what the responsibility is along
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Speaker 2: all that is. And she agreed, and I kind of
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Speaker 2: I was already speaking to a broker about my kind
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Speaker 2: of borrowing capacity, and I said, hey, if I did
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Speaker 2: this is her details, what would that look like? And
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Speaker 2: then yeah, we kind of different from there?
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Speaker 3: What made you go, yeah, buying with a friend is
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Speaker 3: a good idea, because you've already told me that you
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Speaker 3: were a little bit apprehensive. You were like, oh, I
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Speaker 3: could have done this on my own. So like, was
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Speaker 3: it just the increased borrowing capacity? Were you like this
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Speaker 3: is going to be great? Like what made you go
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Speaker 3: yeah great?
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Speaker 2: I'd actually lived with her before, so I kind of
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Speaker 2: I was like, I know we can get along and
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Speaker 2: I know we can have I guess, hard conversations and
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Speaker 2: all the issues that come up when you're living with someone.
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Speaker 2: I was like, I'm pretty sure we can both be responsible.
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Speaker 2: Just an extension of that, and it was like we
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Speaker 2: had started looking at places for if I was to
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Speaker 2: buy by myself, what was kind of in my range,
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Speaker 2: and it was always going to be an apartment or
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Speaker 2: a unit, and everything was having body corporate issues or
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Speaker 2: all those kinds of things, and so and then when
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Speaker 2: we did find out what the increase boring capacity was
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Speaker 2: when we were looking at kind of comparing things in
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Speaker 2: both ranges, that they were just more suitable for one
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Speaker 2: area we wanted to be and the quality of life
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Speaker 2: that we wanted if we both put in.
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Speaker 3: So you decide to go down this journey, you find
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Speaker 3: the house, you buy the house together. I'm assuming at
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Speaker 3: the very start, Sunshine and Roses, you both move in together.
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Speaker 3: Why did we fall out? What happened?
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Speaker 2: I think it was just we were on very different
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Speaker 2: journeys and like different stages in our life. I at
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Speaker 2: the time was in train for my current role and
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Speaker 2: was earning a little bit more but not a lot.
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Speaker 2: And then when I qualified, I got a significant pay rise,
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Speaker 2: and yeah, we just kind of started to have different values.
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Speaker 2: And on the friendship side of things, it kind of
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Speaker 2: I was saying, I'm very much a bedroom person and
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Speaker 2: she's very much a living room person. And it was
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Speaker 2: starting to get to a point where if we were
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Speaker 2: having a disagreement or whatever was happening, I wasn't comfortable
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Speaker 2: in my own space, and I was like, if I'm
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Speaker 2: going to own this property, I want to be comfortable
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Speaker 2: being here. And so I actually tried moving out and
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Speaker 2: living with my mum for a little bit, and I
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Speaker 2: was like, well, this doesn't make any sense. I was
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Speaker 2: actually paying sixty percent of all the expenses because it
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Speaker 2: wasn't a fifty to fifty split, and why am I
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Speaker 2: paying this if I'm not getting any benefit out of it?
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Speaker 2: And we did talk about if we were to sell
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Speaker 2: it or if we were going to rent it out
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Speaker 2: or kind of what that looked like, and we did
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Speaker 2: end up listing it and it just wasn't getting the
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Speaker 2: kind of interest that we needed for the amount that
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Speaker 2: we still had left on the mortgage. And it basically
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Speaker 2: turned around to me being to her one day being like,
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Speaker 2: here are your three options. You can find someone to
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Speaker 2: buy me out, I can buy you out, or we
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Speaker 2: can rent it through a property manager and just have
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Speaker 2: all communication through then because we can't come to an
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Speaker 2: agreement on what we want to do with this. And
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Speaker 2: pretty much from there she was just like fine, you
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Speaker 2: can have it. These are my terms. And I was like, sweet,
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Speaker 2: we'll get conveyance as the world to go from there.
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Speaker 3: And so I just from my mortgage breaker has gone
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Speaker 3: straight back on right. So you guys went to a
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Speaker 3: mortgage breaker, you would have had increased buying capacity. You
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Speaker 3: purchased probably for more than what you could have serviced
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Speaker 3: on your own income. How did you afford to buy
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Speaker 3: her out?
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Speaker 2: When we went through the process. Initially, I was in
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Speaker 2: training for my current role and the yeah, post qualification,
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Speaker 2: my income pretty much doubled.
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Speaker 3: Oh look at you. So you brought her out. That
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Speaker 3: is a great situation to be in. Then you've bought
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Speaker 3: and you're about to settle on this second property that
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Speaker 3: you were kind of like buying along the way, but
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Speaker 3: not along the way. Tell me about that.
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Speaker 2: Yeah, so it was meant to be my first property
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Speaker 2: way back when I was nineteen.
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Speaker 3: Nineteen, and buying a house is crazy in this economy, queen, Like,
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Speaker 3: what is that? That's iconic.
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Speaker 2: I'd been talking to mom about looking at property in general,
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Speaker 2: and we talked about building, and I didn't want a
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Speaker 2: full house. I didn't want the responsibility of a yard
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Speaker 2: and a lot of cleaning. I was like, I'm happy
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Speaker 2: if it's just me to be in an apartment, and
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Speaker 2: we were looking around, and I don't know how I
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Speaker 2: got to off the plan. It was actually just kind
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Speaker 2: of well, I was looking at established and off the
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Speaker 2: plan and kind of really fell in love with this
9:33
Speaker 2: one and went to the display suite. They hadn't spoke
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Speaker 2: to them, and I was one of the first to
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Speaker 2: buy in, and so I knew it was going to
9:40
Speaker 2: be a long time coming. And they were very transparent
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Speaker 2: in the whole way. Every time they did have delays,
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Speaker 2: they were very upfront about what was going on. So
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Speaker 2: I was just kind of waiting for it to be done,
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Speaker 2: and yeah, it's we're just in the paperwork process. Now
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Speaker 2: put the deposit down ten percent deposit at the time,
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Speaker 2: and then don't pay anything until settlement. So kind of
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Speaker 2: like I knew it was going to be a fair
10:01
Speaker 2: while away, so as like I have time to kind
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Speaker 2: of hopefully save up the other ten percent or have
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Speaker 2: some kind of buffer there and go from it.
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Speaker 3: Have any spanner has been put in the works because
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Speaker 3: you bought another house during this process or was that
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Speaker 3: always like part of your cash flow planned. I'm just
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Speaker 3: so pervy. I'm so sorry I got to know.
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Speaker 2: Oh yeah, so I Actually it was funny. We settled
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Speaker 2: on the first place and within a month they'd kind
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Speaker 2: of sent me an update, being like, hey, here's your
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Speaker 2: new timeline. And in hindsight, I'd wish I hadn't bought
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Speaker 2: the first place because I've lost some of my first
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Speaker 2: homeowner power to the first Yeah, because it would have
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Speaker 2: been a new build, and there would have been more
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Speaker 2: entitlements for that, which you know, it is what it is,
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Speaker 2: and it's worked out how it has and I'm able
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Speaker 2: to afford it. But yeah, just knowing how everything's played out,
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Speaker 2: I wished that I'd held off another month or two
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Speaker 2: because I think if I got that email saying hey,
10:54
Speaker 2: here's your timeline, I just would have continued renting. Yeah,
10:56
Speaker 2: but it's all worked out and it is what it is.
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Speaker 2: And then, yeah, I never I never planned to own
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Speaker 2: two properties by this stage. Eventually I will. I'm looking
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Speaker 2: at renting out the existing property. So never planned to
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Speaker 2: be a landlord. But that's why we've ended up.
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Speaker 3: So tell me a bit more. Like you said, oh
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Speaker 3: my first property at nineteen queen unrelatable, unrelatable, And you
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Speaker 3: said no, I'm not going to UNI. I've just had
11:19
Speaker 3: I had so many questions and I'm so excited for you,
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Speaker 3: But how did you put yourself in a position to
11:24
Speaker 3: be able to purchase your first home at nineteen? Like,
11:27
Speaker 3: what's that about?
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Speaker 2: Yeah? Well, so I knew I didn't want to go
11:31
Speaker 2: to UNI because I wasn't sure what I wanted to study.
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Speaker 2: And it was always like, I can go back and
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Speaker 2: do it later if I wanted to. I don't want
11:37
Speaker 2: to get a hack stet just for the sake of
11:39
Speaker 2: doing it.
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Speaker 3: You're wiser than your years.
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Speaker 2: And so I kind of back to Mum saying, you know,
11:44
Speaker 2: if you don't want to go to UNI, that's fine,
11:46
Speaker 2: but you have to go get a real job. Macis
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Speaker 2: do's account. And I ended up in the company that
11:51
Speaker 2: I worked for, doing a customer service role, and I
11:54
Speaker 2: was part time, and I remember looking at my the
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Speaker 2: first full financial year that I'd worked in that role
12:00
Speaker 2: part time, I earned seventy games.
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Speaker 3: Oh okay, queen.
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Speaker 2: And in that time, I'd moved out into a sharehouse
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Speaker 2: and we were paying not a lot for rent and
12:11
Speaker 2: this is twenty twenty COVID times, and I'd bought a
12:15
Speaker 2: car on a loan and then paid it out early,
12:19
Speaker 2: and I was kind of like, Okay, I've got all
12:21
Speaker 2: this income. At that stage, i'd paid off my car loan,
12:23
Speaker 2: I didn't have any debts. I was like, I can well,
12:25
Speaker 2: I can't travel, it's COVID, but I can put this
12:28
Speaker 2: money towards something. Or if I don't have a goal,
12:32
Speaker 2: I know I'll just spend it frivolously. So I was like,
12:35
Speaker 2: if I have something in place that I'm working towards,
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Speaker 2: I'll stick to it. If I don't have a goal
12:41
Speaker 2: that I'll fliter it away.
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Speaker 3: The hustle is real. I adore that you didn't have
12:45
Speaker 3: to go to UNI. Now I want to ask what
12:47
Speaker 3: do you do for work? How much money do you earn?
12:48
Speaker 2: Yes, I'm a train driver. Oh that is so cool.
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Speaker 3: I did not see that coming. Guys, hottest train driver
12:55
Speaker 3: I've ever met.
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Speaker 2: And our base rate is is about one hundred and thirty.
13:01
Speaker 2: But just through the nature of our job, it's shift
13:04
Speaker 2: working in penalties. So last financial year I just under
13:08
Speaker 2: one hundred and eighty.
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Speaker 3: Sorry, what so you earned one eighty and you're still
13:12
Speaker 3: a child? You are turning twenty four tomorrow. Sorry, this
13:16
Speaker 3: is a ridiculously good looking train driver. I hope you're
13:18
Speaker 3: driving my trains next time I'm on them. That is
13:20
Speaker 3: so cool. And I just love the oar making bank.
13:22
Speaker 3: And also I love that I knew this because I
13:25
Speaker 3: have had train driver clients before when I was a
13:28
Speaker 3: financial advisor. But I don't think people understand how well
13:32
Speaker 3: remunerated train drivers are because of the amount of risk
13:35
Speaker 3: you take.
13:35
Speaker 2: Yes, we are very well looked after, good as you
13:38
Speaker 2: should be.
13:39
Speaker 3: So tell me this is what your money doubled. You
13:42
Speaker 3: know you said earlier. You know, my I was in
13:45
Speaker 3: training and then it wasn't and my money doubled. What
13:47
Speaker 3: did that look like? How did you get into this industry?
13:49
Speaker 3: How did you go all right, well, I'm going to
13:51
Speaker 3: become a train driver. Yeah, where does that come from?
13:54
Speaker 2: Just straight out of high school. I was just applying
13:56
Speaker 2: knowing I didn't really have any qualifications, applying for customer service.
13:59
Speaker 2: It was funny. I was actually applying for a job
14:01
Speaker 2: out at the airport at the same time, ended up
14:04
Speaker 2: in this just a general customer service role, which thank
14:07
Speaker 2: god it didn't work out at the airport because COVID
14:10
Speaker 2: happened shortly afterwards, and then through that talk to kind
14:14
Speaker 2: of other people in the company and other roles, and
14:17
Speaker 2: any driver I spoke to is the best show. They'll
14:20
Speaker 2: all say that. And I was like, oh, but like
14:21
Speaker 2: there's got to be some downsides, and like there is,
14:24
Speaker 2: but it's very much outweighed. And so I was a
14:27
Speaker 2: part time in customer service and I just wanted a
14:29
Speaker 2: full time role, and I'd applied for anything and everything,
14:33
Speaker 2: and I actually ended up in another department, and shortly
14:37
Speaker 2: after I started in the new department, the drivers came
14:39
Speaker 2: back to me and said, Hey, do you want to
14:40
Speaker 2: come to interview? And I did, and then I didn't
14:43
Speaker 2: end up getting through, and then I left the company
14:47
Speaker 2: to go do admin work, and I saw that they
14:49
Speaker 2: were applying for drivers again, and so I put in
14:51
Speaker 2: for it out of spite more than anything. I just
14:54
Speaker 2: kind of wanted to prove, like you.
14:55
Speaker 3: Were, like, I can actually do this. You guys are
14:58
Speaker 3: missing it.
14:58
Speaker 4: Yeah.
14:59
Speaker 2: I was like, I need to, but I can get
15:00
Speaker 2: this role. Yeah. And then when they did offer it
15:02
Speaker 2: to me, i'd actually spoken to my manager at the
15:05
Speaker 2: job that I was in and I was like, Hey,
15:06
Speaker 2: what's the kind of room for growth here? And she's
15:09
Speaker 2: kind of like you kind of capped out at the moment,
15:11
Speaker 2: and so I was like, wow, I'm going to go.
15:13
Speaker 3: Then that's kind of helpful for her to be that transparent.
15:15
Speaker 3: I feel like to keep staff, people will often delude
15:18
Speaker 3: you and be like, oh, baby, you just need to
15:19
Speaker 3: spend another year in the role and then you know
15:22
Speaker 3: you'll be promoted. But like, thanks Queen for being transparent
15:25
Speaker 3: with me so I can make decisions about my career.
15:27
Speaker 2: Yeah. And it was funny because I was actually dating
15:30
Speaker 2: someone in the office and a week before I got
15:32
Speaker 2: the driving role, we broke up and so I was like,
15:34
Speaker 2: I don't want to be here. I'm not hanging around
15:36
Speaker 2: like catsher. Yeah. So I went to driving and did
15:41
Speaker 2: about a year of training and it's all paid training,
15:43
Speaker 2: and in that year was when we.
15:45
Speaker 3: Got paid to do the training. Yeah, it's the dream.
15:48
Speaker 2: So it came out with us at floor and yeah,
15:50
Speaker 2: they pay for all your put you through training. So
15:52
Speaker 2: working full time through training and then I was also
15:55
Speaker 2: because I'm insane working hospitality at the same time, just
15:59
Speaker 2: to spending money more than anything. And then good job
16:03
Speaker 2: and then yeah, qualified a year later and it's been
16:05
Speaker 2: full time since.
16:06
Speaker 3: Wow, And are there any other like career trajectory things
16:09
Speaker 3: once you become a train driver, Like I don't know
16:12
Speaker 3: enough about once you hit that like one eighty mark,
16:14
Speaker 3: Is that like the top because that's a lot. That's
16:16
Speaker 3: a lot, Like we don't need more than that, but
16:18
Speaker 3: like I'm just pervy.
16:19
Speaker 2: Yeah, there are a couple opportunities if you want to
16:22
Speaker 2: get into like the training space or like the compliance space,
16:25
Speaker 2: but the bulk of drivers are just kind of at
16:29
Speaker 2: that base level.
16:29
Speaker 3: Yeah, And are you planning on doing any of that
16:32
Speaker 3: or are you? Like, girl, I'm literally twenty four earning
16:35
Speaker 3: one eighty grand a year, Like I don't need you
16:37
Speaker 3: and I don't need any more roles, but like, what's
16:39
Speaker 3: the plan for the future.
16:40
Speaker 2: I can't sit still. I need to have something to
16:43
Speaker 2: work towards.
16:43
Speaker 3: Neither can I. Like I'm a feral human being. Sorry,
16:46
Speaker 3: it's all good.
16:46
Speaker 2: Yeah, Actually we were suspecting a little bit of Neurospicy.
16:50
Speaker 2: I've actually got my assessment tomorrow, so nothing's confirmed, but.
16:54
Speaker 3: I feel like it. She's on the money. We find them,
16:57
Speaker 3: Like everybody in my team I think is a lot
17:00
Speaker 3: nearer spicy. Everyone that I get along whiz like you,
17:03
Speaker 3: like if I start to vibe with you on a
17:06
Speaker 3: money diry. It's probably because we're on the same page,
17:08
Speaker 3: and I don't think that's a bad thing. It's good
17:09
Speaker 3: to know more about yourself. But it is low key
17:11
Speaker 3: kind of funny, yes.
17:13
Speaker 2: But yeah, So ideally I would like to get into,
17:15
Speaker 2: preferably training. There are requirements on like you have to
17:19
Speaker 2: have a minimum time qualified and things like that, so
17:22
Speaker 2: there's not a lot I can do right now, but
17:24
Speaker 2: just kind of making sure I know my job really
17:27
Speaker 2: well so that when I do go for things in
17:28
Speaker 2: the future.
17:29
Speaker 3: Yeah, oh, I love that. So your own two property
17:32
Speaker 3: is like you're about to settle on the second one
17:34
Speaker 3: and there's no bumps in the road there. What are
17:36
Speaker 3: your other big money goals? What are you currently working towards.
17:39
Speaker 2: I was on and off investing and so at the moment,
17:42
Speaker 2: my goal is just to be a little bit more
17:44
Speaker 2: regular with them, because I can't sit still and I
17:46
Speaker 2: do get bored. There's every chance that's somewhere down the
17:49
Speaker 2: line I'm going to want to change career paths, and
17:51
Speaker 2: I'm aware that that's probably going to take a pay cut.
17:54
Speaker 2: So I want to try and set up as much
17:56
Speaker 2: passive income as I can now. So that if I
17:58
Speaker 2: do decide to do something else, I'm not feeling as
18:01
Speaker 2: much of a drop. Or if I do decide to
18:04
Speaker 2: drive forever, then yeah, trying to set that up so
18:07
Speaker 2: that I have the option to retire by fifty I
18:10
Speaker 2: should say, I think I'd get bored if I had
18:13
Speaker 2: to stop working.
18:14
Speaker 3: But knowing that staying, but I want the option. Knowing
18:16
Speaker 3: I have the option too, I love that for you.
18:18
Speaker 3: Let's go to a really quick break because on the
18:20
Speaker 3: flip side, you've baited me. He said, Oh I was investing.
18:23
Speaker 3: You didn't give me any information about that. So I'm
18:25
Speaker 3: going to deep dive into that. I want to know
18:26
Speaker 3: how the hell like twenty four you're going to have
18:28
Speaker 3: one hundred grand in your super. And then I want
18:30
Speaker 3: to know a little bit more about these mortgages because
18:32
Speaker 3: we're going to get into the nitty gritty, So guys
18:34
Speaker 3: don't go anywhere, all right, money darist, we are back.
18:41
Speaker 3: I want to know tell me more about your investments.
18:44
Speaker 3: So first, cab off the rank superannuation nearly one hundred
18:48
Speaker 3: grand twenty.
18:49
Speaker 2: Four, How I actually to this stage, haven't made any
18:53
Speaker 2: additional contributions I currently have. Last I checked, it's about
18:58
Speaker 2: seventy thousand, and I was actually listening to the Super
19:02
Speaker 2: episodes last week. But I started listening to Cheese on
19:06
Speaker 2: the Money when I was eighteen, and I just started
19:09
Speaker 2: a work out of high school, and I remember changing
19:13
Speaker 2: to a growth portfolio from eighteen. So that's been a
19:16
Speaker 2: couple of years in the making.
19:17
Speaker 3: That is going to put you so far ahead. I'm obsessed, and.
19:19
Speaker 2: I also maybe not the best decision I've made, but
19:22
Speaker 2: I turned off most of my insurances at the time
19:25
Speaker 2: because they didn't feel like they fit, and it's kind
19:27
Speaker 2: of being the role that I'm in now. A lot
19:29
Speaker 2: of them I wouldn't be covered for anyway because we
19:32
Speaker 2: are considered high risk, and so that's something I need
19:34
Speaker 2: to sort outside of Super. But yeah, I've set that
19:37
Speaker 2: up pretty sure. I would have been eighteen at the time,
19:39
Speaker 2: so that's had a couple of years to tick over,
19:41
Speaker 2: and then I'm just kind of monitoring it over the
19:43
Speaker 2: next year and if I do need to add a
19:46
Speaker 2: little bit to bump it up to that hundred. But
19:48
Speaker 2: at the last two financial years they've had twenty to
19:52
Speaker 2: twenty five thousand dollars just through employer contributions nice, so
19:56
Speaker 2: it's pretty much set to hit it itself at this stage.
20:00
Speaker 3: That is so crazy to me, like in the best
20:02
Speaker 3: possible ways. Now I want to talk about your other investments,
20:06
Speaker 3: and then I'm going to ask about personal insurances because
20:08
Speaker 3: you just touched on that. But with your other investments,
20:11
Speaker 3: you said you've dipped in and out of the market.
20:13
Speaker 3: What were you doing? How are you doing it? Why
20:15
Speaker 3: dip in and out? Like what what is your kind
20:17
Speaker 3: of strategy or is it a play or is it
20:19
Speaker 3: a plan.
20:20
Speaker 2: I'd read The Barefoot Investor and I'd kind of had
20:23
Speaker 2: a rough idea of what investing was, but I didn't
20:26
Speaker 2: really look into it at that stage. And then the
20:29
Speaker 2: partner I had when I was eighteen was very financially savvy.
20:33
Speaker 2: He didn't earn a heap, but was into investing, how
20:36
Speaker 2: to really solid emergency fund, owned his car outright, all
20:39
Speaker 2: these things, and it was just something we kind of
20:41
Speaker 2: spoke about generally, and so I guess my brain kind
20:45
Speaker 2: of went, oh, well, if he can do it, I
20:46
Speaker 2: can do it.
20:46
Speaker 3: How could it be men do it all the time.
20:48
Speaker 2: Exactly, And like I'd asked him, like, oh, what are
20:51
Speaker 2: you invest in? And I didn't invest exactly in the
20:54
Speaker 2: same things, but I didn't do as much research as
20:57
Speaker 2: I should have. But I ended up with two ETFs
21:00
Speaker 2: and also Quantus shares randomly, which actually worked out really
21:03
Speaker 2: well for me because this was right at the start
21:06
Speaker 2: of the COVID, so their share prices was really low,
21:08
Speaker 2: and then I held it long enough that when everything
21:10
Speaker 2: bounced back, I actually got a pretty good, yes.
21:12
Speaker 3: Very nice turn on it.
21:13
Speaker 2: And then yeah, so kind of put in an initial
21:15
Speaker 2: amount I remember exactly what it was, and then didn't
21:19
Speaker 2: touch it for six months, and then I was like, oh,
21:21
Speaker 2: I'll put some more in, and I think I just
21:23
Speaker 2: did that for the first two years, and I think
21:26
Speaker 2: overall I put maybe five grand in, and then close
21:29
Speaker 2: to two years now, when I qualified at work, I
21:33
Speaker 2: was like, Okay, I'm going to start regually investing, and
21:35
Speaker 2: I set up a transfer of like five hundred dollars
21:38
Speaker 2: a fortnight. And then somewhere I think around the time
21:40
Speaker 2: of buying my friend out, and I was kind of like, oh,
21:43
Speaker 2: I've got to redo my cashhow I maybe don't have the.
21:46
Speaker 3: Allocation for this, and so I would have done the
21:48
Speaker 3: same thing.
21:49
Speaker 2: Yeah, So I just left everything in there and just
21:52
Speaker 2: stopped adding to it, and then just recently, in the
21:55
Speaker 2: last two months, I've kind of restarted that she's back
21:59
Speaker 2: back at a five hundred a fortnight, and I've kind
22:02
Speaker 2: of added to extra atfs in there and just letting
22:05
Speaker 2: it tick along.
22:05
Speaker 3: At this stage, I'm obsessed with that. But I know
22:08
Speaker 3: you're not going to want to hear this, but you're
22:10
Speaker 3: setting yourself up for a little argument with me at
22:12
Speaker 3: the end of this show, like you told me euro b. Yes, sorry,
22:17
Speaker 3: that's not very b behavior, but we'll get there. The
22:19
Speaker 3: next question I really want to loop back on is
22:21
Speaker 3: tell me about your personal insurances. Like you said that
22:23
Speaker 3: you canceled some of them through superannuation and you don't
22:26
Speaker 3: think you can get them back. What does that look like.
22:29
Speaker 3: Have you ever seen an insurance financial advisor.
22:32
Speaker 2: Or like, what have you done? Yes, at this stage,
22:35
Speaker 2: I don't have any, and I really should.
22:37
Speaker 3: I can fix that for you or set you up
22:38
Speaker 3: with my mate Field. It's good. It's all good.
22:41
Speaker 2: This is kind of where it comes into the be
22:42
Speaker 2: of like I know what I need to do, and
22:44
Speaker 2: I just have it got around to doing it. I
22:46
Speaker 2: also I booked in to see a financial advisor just
22:49
Speaker 2: generally and kind of make a bit of a plan,
22:52
Speaker 2: because as much as I've educated myself, I kind of
22:56
Speaker 2: want the reassurance of someone telling me I'm doing the
22:58
Speaker 2: right thing.
22:58
Speaker 3: When you have that much income. Girlfriend, it's just a
23:01
Speaker 3: smart money decision.
23:02
Speaker 2: Yeah. And then I had like the initial appointment, and
23:06
Speaker 2: then I never went back because so much had changed
23:09
Speaker 2: in my situation between because there's such a waiting list,
23:13
Speaker 2: and I was like, why don't like they're going to
23:14
Speaker 2: give me advice now, and then it's going to change again.
23:16
Speaker 2: And so I've kind of because this second property has
23:18
Speaker 2: been so long in the making, I'm like, I will
23:20
Speaker 2: sort it all out once that's settled and things are
23:22
Speaker 2: going to stop changing. And so I'm kind of like, oh,
23:25
Speaker 2: there's the things I need to do, I'll just do
23:27
Speaker 2: them later. And I'm just kind of hoping nothing goes
23:29
Speaker 2: wrong with knowing them.
23:30
Speaker 3: Yeah, And I know, I just really want to touch
23:32
Speaker 3: on this because I actually, for some reason I got
23:35
Speaker 3: when I was a financial advisor, a lot of Metro employees,
23:38
Speaker 3: so in Meilband Metros, who runs our train system, and
23:42
Speaker 3: there was this misconception between all of you that you
23:44
Speaker 3: were uninsurable and that's just not the case, Like we
23:47
Speaker 3: can get insurance. It's just not through everyone. There are
23:49
Speaker 3: a few insurers who are like, hell no, they're too risky.
23:52
Speaker 3: But you also have like such good EAP and like
23:56
Speaker 3: benefit programs through the company that you work with, because
23:59
Speaker 3: they actually we know that you need to have specific
24:02
Speaker 3: rail income protection and you know all of that. But
24:05
Speaker 3: I would make that a priority because govern you've got
24:07
Speaker 3: two mortgages, You've worked your butt off, and we're not
24:10
Speaker 3: protecting this, Like what do you mean I'm not happy
24:13
Speaker 3: for you to flush that down the toilet and I
24:15
Speaker 3: don't think you are either. It's not like can't forward it.
24:18
Speaker 3: I can see your income right here. So we are
24:20
Speaker 3: going to get our insurances sorted, because that's the one
24:23
Speaker 3: thing that I think people who have listened to the
24:25
Speaker 3: show for a while, and you said you've been listening
24:26
Speaker 3: since you're eighteen, you know how I feel about personal insurances.
24:30
Speaker 3: We're in a deep relationship, and the reason is because
24:34
Speaker 3: it puts you in the best possible position. So if
24:36
Speaker 3: you don't want to go back and see that advisor,
24:38
Speaker 3: I can obviously set you up with one, but I
24:40
Speaker 3: definitely would be even if you don't want proper full
24:43
Speaker 3: financial advice, go see an insurance financial advisor, like you know,
24:48
Speaker 3: I talk about Phil on the show all the time,
24:50
Speaker 3: Like Phil, So you can just set that up and
24:52
Speaker 3: then you can do the finance fun cash slow budget
24:55
Speaker 3: stuff later. But like, your income is your income and
24:58
Speaker 3: we need to protect that. And I'm just you don't
25:00
Speaker 3: get to be twenty four and have one hundred and
25:01
Speaker 3: eighty thousand dollars coming in and we're not looking after that.
25:03
Speaker 3: I want to shake you and hug you at the
25:05
Speaker 3: same time because I'm proud, and also like, let's protect this.
25:08
Speaker 2: Yeah, it's definitely on the list.
25:10
Speaker 1: You can have a B for that.
25:11
Speaker 2: That's fine.
25:11
Speaker 3: I will agree with that. So tell me more about debt.
25:15
Speaker 3: I want to know the nitty gritty. You've got one mortgage,
25:18
Speaker 3: but you're about to have two full mortgages. Tell me
25:20
Speaker 3: about how much did you purchase Let's pretend it's called
25:24
Speaker 3: the first home because you haven't settled on the second
25:26
Speaker 3: one yet, but house one that you bought with your friend.
25:28
Speaker 3: How much did you buy it for? Five hundred and
25:30
Speaker 3: twenty five twenty and how much is it worth today?
25:33
Speaker 2: I haven't had it valued recently. It's about the same actually,
25:36
Speaker 2: when we went to try and sell it between the
25:39
Speaker 2: two of us that have gone down slightly just because
25:41
Speaker 2: it is an apartment and they're a bit harder, So
25:44
Speaker 2: I'd probably say it's worth about the same and I, oh,
25:48
Speaker 2: last I checked four seventy on it.
25:50
Speaker 3: Okay, that's pretty good. And have you been actively making
25:53
Speaker 3: additional contributions to that or is that just ticking away?
25:57
Speaker 2: It's just ticking away. I've just got pretty much all
26:00
Speaker 2: my own funds in an offset at the moment, trying
26:02
Speaker 2: to help a little bit. But I knew with the
26:04
Speaker 2: second one coming up, I wanted access to everything, so
26:07
Speaker 2: I just wasn't pro priority. Yeah.
26:09
Speaker 3: Fair, So let's talk through the second one, which was
26:12
Speaker 3: technically the first one, but it'll be the second one
26:14
Speaker 3: to settle. When you purchased it off the plan, did
26:18
Speaker 3: you purchase the land and now you're doing the build
26:21
Speaker 3: or is it all one package or how did that work?
26:24
Speaker 2: Yeah, so it's another apartment, so it's all all included.
26:27
Speaker 2: I had a contract price of six to oh one
26:30
Speaker 2: and I just actually got the values through last week.
26:33
Speaker 2: We got multiple banks through. Two of them said it
26:36
Speaker 2: was about the same sitting at that six o two,
26:37
Speaker 2: and then one of them came back and said it
26:39
Speaker 2: was six't eighty.
26:40
Speaker 3: I will take that valuation. That would be nice. A
26:42
Speaker 3: little bit of equity never goes fast exactly, So.
26:45
Speaker 2: Just working through at the moment who we're going to
26:46
Speaker 2: go with and what that looks like. If I can
26:49
Speaker 2: get a lower rate because they think it's worth more, happy.
26:52
Speaker 3: With that, get money, win, And I mean a little
26:54
Speaker 3: bit of equity gives you a bit of wiggle room
26:56
Speaker 3: we don't have to use it. Is it fair for
26:58
Speaker 3: me to assume that you're working directly with a mortgage
27:00
Speaker 3: broker on that, and they're kind of like the ones
27:02
Speaker 3: that are getting the banks through and making sure that
27:04
Speaker 3: we're getting a number of different valuations and getting the
27:06
Speaker 3: best possible outcome for you.
27:07
Speaker 2: Yes, yeah, I've got my broker dealing with all of
27:09
Speaker 2: that because it's far too much for.
27:10
Speaker 3: Me to hand a genius. Honestly, it's a lot. And
27:13
Speaker 3: I feel like people don't realize. You go, oh, just
27:15
Speaker 3: my house, that's fine, and then I'll go down to
27:17
Speaker 3: the bank. But like you're even finding just before settlement
27:20
Speaker 3: that like how important was it to get three different valuations?
27:23
Speaker 3: You would have been like, oh, I didn't even think
27:24
Speaker 3: of that. But now there's the potential we might not
27:27
Speaker 3: take it, but there's the potential of having one of
27:30
Speaker 3: the banks basically that you have eighty grand in equity
27:33
Speaker 3: from the get go, yes, which we might not use,
27:37
Speaker 3: but it's nice to have a wiggle room. And how
27:39
Speaker 3: are you managing those repayments? Because that's like more than
27:41
Speaker 3: a million dollars worth of debt that you're going to
27:43
Speaker 3: be in at twenty four which is honestly not that
27:46
Speaker 3: concerning when your income SIT's at about one hundred and
27:48
Speaker 3: eighty grand, But like, what does that feel like? Because
27:52
Speaker 3: it feels like your mortgage repayments are going to be
27:54
Speaker 3: a lot, especially because it's like the first year of
27:56
Speaker 3: having two full mortgages.
27:57
Speaker 2: Right. Yeah, it's scary to say when like and I
28:00
Speaker 2: have said, like, oh, by the end of the year,
28:01
Speaker 2: I'll be in a million dollars at the debt and
28:03
Speaker 2: that terrifying, But when I actually sit down and look
28:06
Speaker 2: at the math, it's all right.
28:08
Speaker 3: In it.
28:08
Speaker 2: For the first property, I have spoken to a property
28:12
Speaker 2: manager and checked what the rental yield will be and
28:15
Speaker 2: it will be slightly negatively good. But I also currently
28:19
Speaker 2: have and will have in the new property as well.
28:22
Speaker 2: My sister living with me.
28:23
Speaker 3: Oh, very cool.
28:24
Speaker 2: And so she's helping me out a little bit and
28:26
Speaker 2: like paying her rent or board or how if you
28:28
Speaker 2: want to look at it. And I've worked it out
28:30
Speaker 2: that the shortfall that I'll have is pretty much perfectly
28:34
Speaker 2: covered by her rent. So in my brain, she's paying
28:37
Speaker 2: that and I'm just fully paying the second one by myself.
28:39
Speaker 3: Okay, cool. I love that. I feel like that makes
28:42
Speaker 3: a lot of sense and it's nice to be able
28:43
Speaker 3: to justify in that way too. It sounds like you're
28:45
Speaker 3: pretty on top of your numbers. How are you doing?
28:49
Speaker 3: Do you have a budget spreadsheet? You're writing this on
28:50
Speaker 3: the back of an envelope, but are you just making
28:52
Speaker 3: it up in your brain? How do you do all
28:54
Speaker 3: of your cash flow?
28:55
Speaker 2: I do have a Excel document that I'm constantly updating
29:00
Speaker 2: because Sexy we are paid hourly, so pretty much every
29:03
Speaker 2: fortnight my pay can change slightly, so I'm always double
29:06
Speaker 2: checking if i have extra money, making sure it's allocated
29:09
Speaker 2: and not just hanging out. Yeah, So I'm constantly checking,
29:16
Speaker 2: and if my energy bill comes in more or less
29:20
Speaker 2: than I expected, I make sure to update that because
29:22
Speaker 2: it's all averages at the moment, and I do all
29:25
Speaker 2: my transfers manually just because it makes my brain feel
29:29
Speaker 2: like I've done more, but very religiously, like to the day,
29:33
Speaker 2: I'm checking it every fortnight.
29:34
Speaker 3: I am obsessed. Can I be really pervy about personal life?
29:38
Speaker 3: Do you have a partner? Are you seeing anyone? What
29:40
Speaker 3: does that look like? Sorry, you're going to be in
29:42
Speaker 3: a million dollars worth of debt, which is sexy, but
29:44
Speaker 3: you also got assets and you've got a nice amount
29:46
Speaker 3: of super Yeah doing so.
29:49
Speaker 2: I am seeing someone. At the moment, everything is completely separate.
29:54
Speaker 2: He also has his own asset. Good girl in that regard.
29:58
Speaker 3: With fairly equal, you're going to be like a rich
30:00
Speaker 3: power couple both retiring at fifty.
30:02
Speaker 2: Yeah. Yeah, the goal is dinks for life. Yeah.
30:05
Speaker 3: Love.
30:06
Speaker 2: Yeah. At this stage, everything's really separate. We kind of
30:08
Speaker 2: have heard early conversations about if we were to combine,
30:11
Speaker 2: what would that look like? But it's very much agreed
30:13
Speaker 2: that what we've come into this with is separate, and
30:17
Speaker 2: then anything we build together is fairly equal.
30:19
Speaker 3: And do you live together yet or is that part
30:21
Speaker 3: of the plan?
30:22
Speaker 2: Nine?
30:22
Speaker 3: Not yet? Will that be something that you consider?
30:24
Speaker 2: Are you like, no?
30:25
Speaker 3: Sorry, stay out?
30:27
Speaker 2: Yeah, we kind of have had the conversation, and at
30:29
Speaker 2: this stage the plan would be that I would move
30:32
Speaker 2: in with him because he has a dog and he's
30:35
Speaker 2: not an apartment suitable dog.
30:36
Speaker 3: So he's a guy with assets and a dog. You
30:38
Speaker 3: are selling the dream.
30:40
Speaker 2: Yeah, it'll be a dog and four cats.
30:43
Speaker 3: Oh my god, is do you have the cats? Or
30:45
Speaker 3: does he have the cats? I have two and he
30:46
Speaker 3: has two. Oh this is my dream man. So sorry,
30:49
Speaker 3: there's a dude out there who was single and had
30:51
Speaker 3: a dog and two cats. I love him already for you.
30:54
Speaker 2: One of the cats actually just showed up at his
30:56
Speaker 2: house last week and he's like checked with all the
30:58
Speaker 2: neighbors and he's getting it better checked and he's like,
31:00
Speaker 2: if nobody claims that, I'm keeping it. And the first
31:02
Speaker 2: cat did the same thing.
31:03
Speaker 3: Sorry, So he's like the snow white of the suburbs
31:07
Speaker 3: and cats.
31:08
Speaker 2: Both of his cats showed up one day.
31:10
Speaker 3: It's just no good people, don't they They just turn
31:13
Speaker 3: up and they're like, you is good people? Can I
31:15
Speaker 3: live here? That will be nice? Y? We can be
31:17
Speaker 3: good people together. Oh my god, I'm obsessed. All right,
31:21
Speaker 3: moving on from talking about your personal life, Thank you
31:24
Speaker 3: for giving me that grace. I want to know about
31:26
Speaker 3: any further debt. We know about the mortgages. That's fine,
31:28
Speaker 3: that's good debt. You mentioned that you've had a car
31:30
Speaker 3: loan before. Do you have any other personal loans, personal debts,
31:34
Speaker 3: debts of any kind.
31:35
Speaker 2: My car that I have now is currently on a
31:37
Speaker 2: nervated lease, but no no credit cards or anything like that.
31:41
Speaker 2: That all lot. I did have a credit card and
31:44
Speaker 2: I paid it out when I went to buy it out,
31:46
Speaker 2: and I just never reopened.
31:47
Speaker 3: It's awesome, love to hear it. Tell me a little
31:49
Speaker 3: bit more about the norvated lease, because I get asked
31:51
Speaker 3: about nevated leas's all the time. Why did it work
31:54
Speaker 3: for you? As someone who I know has a crazy
31:56
Speaker 3: spreadsheet and would have made a good decision.
31:58
Speaker 2: It worked for me for a number of reasons. I
32:00
Speaker 2: have a fully electric vehicle, and I was able to
32:02
Speaker 2: take advantage of my entire innovated least payment is pre
32:05
Speaker 2: tax rather than normally it's half pre half post. And
32:09
Speaker 2: also just because I work so much overtime and so
32:11
Speaker 2: many penalties, I'm kind of I can fall right on
32:13
Speaker 2: the cast for a tax bracket, and so I was like,
32:15
Speaker 2: if anything to kind of keep that lower, I like
32:19
Speaker 2: knowing that what comes into my account, I don't have
32:23
Speaker 2: to think about car expenses like they're all covered. But
32:26
Speaker 2: also because of my age, my insurance premiums can be
32:29
Speaker 2: quite high, and because it's basically company insurance, it works
32:32
Speaker 2: out a lot cheaper than if I had to go
32:34
Speaker 2: get my own.
32:34
Speaker 3: That's so interesting. I am so glad, I asked. And
32:37
Speaker 3: at the end of your novated least plan, what's the plan?
32:40
Speaker 3: Are you paying for the car out right? Are you
32:42
Speaker 3: getting a new car?
32:43
Speaker 2: Like?
32:43
Speaker 3: What would be the plan there?
32:45
Speaker 2: I'm not one hundred percent sure at this stage. If
32:48
Speaker 2: because it is electric, if the charging facilities, and if
32:52
Speaker 2: I can install a charge at home, because currently I can't,
32:54
Speaker 2: so I am relying on public charging and the charge
32:57
Speaker 2: I have it Moms, Thanks Mom. But yeah, if my
33:00
Speaker 2: my access to charging is a lot more readily available,
33:02
Speaker 2: I'd potentially look at buying it out and keeping it.
33:05
Speaker 2: If it's still not where I want it to be
33:08
Speaker 2: infrastructural wise, I would give it back and look at
33:11
Speaker 2: getting a second hand, probably a hybrid, because by that
33:13
Speaker 2: stage my insurance should be more reasonable.
33:16
Speaker 3: You know, because you'll be over the age of twenty five,
33:17
Speaker 3: which is nice. I think that what you're doing is
33:20
Speaker 3: so genuinely impressive, even the fact that I was like,
33:22
Speaker 3: tell me about your nervated lease and you're like, well,
33:24
Speaker 3: I'm on the tax cusp and I'm doing this, and
33:26
Speaker 3: I'm doing that, and also I have a fully electric
33:29
Speaker 3: vehicle and I can claim one hundred percent, Like, who
33:31
Speaker 3: are you? This is literally so sexy. I love it.
33:35
Speaker 3: What do you think your best money habit is?
33:37
Speaker 2: Best would probably be I'm pretty good at like once
33:40
Speaker 2: money is allocated. So say, if I run out of
33:43
Speaker 2: all my fun money, if there's something that I want,
33:45
Speaker 2: I'm like, well it can wait. Like I'm not going
33:47
Speaker 2: to go dipping into other buckets or I don't have
33:50
Speaker 2: a credit card, or but like I wouldn't put it
33:51
Speaker 2: on any line of finance. I'm like, if I want it,
33:54
Speaker 2: I'm still going to want it my next payday, and
33:56
Speaker 2: if I don't, then I didn't need it in the
33:57
Speaker 2: first place.
33:58
Speaker 3: Okay, love that take and feel like that's actually harder
34:01
Speaker 3: to grasp than most people comprehend. Do you even have
34:04
Speaker 3: bad money habits at this point?
34:06
Speaker 2: Yeah? This on this on, this one hurt, This one hurts.
34:09
Speaker 2: I'm sorry in advance, because I have such a good
34:13
Speaker 2: understanding of I guess, like my general position, and I
34:16
Speaker 2: know that, like if I were to get something, I
34:18
Speaker 2: know roughly what I can afford without speaking to brokers
34:22
Speaker 2: or finance or whoever. So I'll kind of have half
34:25
Speaker 2: a thought of like that I want something, and I
34:28
Speaker 2: tend to make quite large financial decisions without doing as
34:33
Speaker 2: much research as I should, so I'll kind of like
34:35
Speaker 2: start looking into it and then if the opportunity presents itself,
34:38
Speaker 2: I just that's kind of how I ended up in
34:40
Speaker 2: my car. I'm wonna be honest, what kind of car
34:42
Speaker 2: did you pick? I have a Tesla?
34:43
Speaker 3: Of course she does. She's a hot girl driving a
34:45
Speaker 3: Tesla at twenty four and one hundred and eighty grand,
34:47
Speaker 3: like beef, So for real, these people are legit really
34:50
Speaker 3: my community, Like I actually can't believe it, Like.
34:53
Speaker 2: Are you joking?
34:54
Speaker 3: Like you're just a baller driving around in a hot
34:56
Speaker 3: girl Tesla? Stop it? And then you're like, that was
34:59
Speaker 3: a bad money decision, but you already told me about
35:01
Speaker 3: your novated lyase situation, so that wasn't that bad.
35:03
Speaker 2: I've been very fortunate that all these spontaneous decisions that
35:07
Speaker 2: I've made have worked out for me so far. I
35:09
Speaker 2: think one day it's going to catch up with me.
35:10
Speaker 2: But I've been thinking about getting a new car, and
35:13
Speaker 2: I wasn't sure what I wanted. I was originally looking
35:16
Speaker 2: just for hybrids. And then I saw an email through
35:20
Speaker 2: the Novada lease company that Metro worked with, and they
35:22
Speaker 2: were talking about electric vehicles and like, I think I
35:25
Speaker 2: got like three grand cash back on it and all
35:27
Speaker 2: these other things if you order it by a certain day.
35:29
Speaker 2: And then I was talking to my mum. I remember
35:31
Speaker 2: it being a Sunday and I was talking to mum
35:32
Speaker 2: about it and she's like, why don't we go car
35:33
Speaker 2: shopping and I was like, it's a Sunday, all the
35:35
Speaker 2: dealerships are closed and we're like, Tesla's not and I
35:38
Speaker 2: knew a couple of people with them, and I was like, well,
35:39
Speaker 2: I've never driven one, Like we'll we'll just go test
35:41
Speaker 2: drive it. We'll see. And she was so like anti
35:44
Speaker 2: electric vehicle, just because it's new technology and she wasn't
35:47
Speaker 2: sure about it. And we took it for a test
35:48
Speaker 2: drive and we've come back and even she was like
35:50
Speaker 2: I absolutely love it.
35:51
Speaker 3: Oh no, Mom's not helping. No.
35:54
Speaker 2: And I ordered it that day and then was like, well,
35:55
Speaker 2: I'll just figure it out later. I'll do the math
35:57
Speaker 2: before it arrives, and it'll be fine.
36:00
Speaker 3: You do the mask.
36:00
Speaker 2: I did do the mass.
36:01
Speaker 3: I'm going to be really pervy and this is just
36:03
Speaker 3: for my own personal gain, not even to share with
36:05
Speaker 3: the community. You said that you're doing your nearest bicy test.
36:08
Speaker 3: You message me when you have a response, because I
36:10
Speaker 3: think I know what it's gone by because you sound
36:12
Speaker 3: a lot like me, and that's not a bad thing.
36:15
Speaker 3: But like, everything's worked out thus far. Can't be that hard,
36:18
Speaker 3: as you said before, men do it.
36:21
Speaker 2: Yeah, And I mean even with like purchasing the properties
36:24
Speaker 2: was kind of I had a rough idea. I knew
36:26
Speaker 2: what I could afford, and if i'd thought about it
36:29
Speaker 2: or did a little bit more research, I may not
36:31
Speaker 2: have made the same decisions. But it's worked out so fast,
36:33
Speaker 2: so we'll just.
36:34
Speaker 3: Running with it so fast, so good. I love that
36:36
Speaker 3: for you. Now, if hypothetically I played this money diary
36:40
Speaker 3: back to you and we went through this money dary
36:43
Speaker 3: and it's not you, someone else, and I said, look,
36:45
Speaker 3: she's this twenty four year old or she's twenty four tomorrow.
36:48
Speaker 3: She lives in Melbourne's train driver made one hundred and
36:50
Speaker 3: eighty grand last year. She owns two properties. Like, you know,
36:54
Speaker 3: it's quite savvy with her money, good at saving, really
36:57
Speaker 3: good at Excel spreadsheets. Actually, you had this situation with
37:01
Speaker 3: a friend she bought and she was able to buy
37:03
Speaker 3: her friend out of this property and she got to
37:06
Speaker 3: keep it herself. And whilst it's not increased significantly in value, like,
37:11
Speaker 3: it's still ticking along and has pretty good rental yields.
37:13
Speaker 3: So she's not madged about to settle on her second apartment.
37:16
Speaker 3: That's pretty sligh. She drives a Tesla, ridiculously good looking.
37:20
Speaker 3: What would you think that that money diary would grade themselves?
37:25
Speaker 3: Would you go, Oh, she's probably be that's not that impressive.
37:27
Speaker 2: I mean that does sound pretty good. It's good.
37:31
Speaker 3: So tell me if you're going to grade yourself a bee, What.
37:34
Speaker 2: The hell is an A? Yeah? I think it's more
37:36
Speaker 2: I know what I need to put in place that
37:39
Speaker 2: I haven't.
37:40
Speaker 3: Personal insurance, That's what it is.
37:41
Speaker 2: And so like if I didn't know that, if I
37:44
Speaker 2: didn't know I needed insurance and I didn't know I
37:46
Speaker 2: need to kind of have that plane in place, I'd
37:48
Speaker 2: be like, yeah, cool sounds sounds really good. She's doing amazing. Yeah.
37:51
Speaker 2: I think it's just a little bit of self doubt
37:53
Speaker 2: when I know I should do something and I haven't.
37:55
Speaker 3: It's probably where I'm coming. Yeah, okay, all right, I'll
37:58
Speaker 3: let you have that. But O, if you just had
38:00
Speaker 3: an appointment at sky Wealth, you'd bna like that. That's
38:03
Speaker 3: a pretty easy fix.
38:05
Speaker 2: Yeah, I think that would push it over there.
38:06
Speaker 3: Yeah right, all right, I think between you and I
38:08
Speaker 3: we could make that happen.
38:09
Speaker 2: You reckon.
38:10
Speaker 3: Yeah, Oh my goodness. It has been an absolute pleasure
38:13
Speaker 3: getting to know you. I feel like you're a little
38:15
Speaker 3: bit nervous at the start, and now we're French, so
38:17
Speaker 3: now you're like, no, no, this is a fun experience.
38:20
Speaker 3: So I'm glad that we fell into it because this
38:21
Speaker 3: has been literally so fun getting to know about you,
38:25
Speaker 3: your jobs, how you've been creating wealth all before twenty five, Like,
38:28
Speaker 3: you haven't even hit a quarter of a century, and
38:30
Speaker 3: you're going to have one hundred grand in super you
38:33
Speaker 3: are going to be really financially secure somehow, You've met
38:37
Speaker 3: a man who has two cats and a dog, like
38:39
Speaker 3: money win, life win. I'm just I'm really excited about
38:43
Speaker 3: your journey and where you're going. And I just know
38:45
Speaker 3: that our community would have loved listening to this, So
38:48
Speaker 3: thank you for sharing, thank you for having me appreciate it,
38:50
Speaker 3: and also a very huge thank you to sky Wealth
38:53
Speaker 3: for making this episode possible. I'll chuck a whole heap
38:55
Speaker 3: of information about them, how to get in contact, what
38:58
Speaker 3: they do, how they do it in the show notes
38:59
Speaker 3: for you to check out. The buy shared on She's on.
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