Latest / TFS WealthCast / "Clash of the Cashflow - Property, Super & Diversification"

Transcript

"Clash of the Cashflow - Property, Super & Diversification" · TFS WealthCast

• 0:00
  SPEAKER_02: Dream big and smart build well.
• 0:04
  SPEAKER_02: This is the TFS Podcast where money cost gets real and financial freedom is more than just a goal.
• 0:12
  SPEAKER_02: Without further ado, let's dive in.
• 0:17
  SPEAKER_03: Welcome to TFS Podcast.
• 0:20
  SPEAKER_03: I'm Pram Rodrigo.
• 0:22
  SPEAKER_03: Today I have a special guest who happens to be my wife and also the CEO, COO of TFS.
• 0:29
  SPEAKER_03: Sonali Rodrigo.
• 0:30
  SPEAKER_03: Welcome, Sonali.
• 0:31
  SPEAKER_00: Thank you.
• 0:32
  SPEAKER_03: All right, today I'm gonna uh we're gonna talk about some interesting stuff.
• 0:37
  SPEAKER_03: Uh she's she's the finance head of financial planning as well.
• 0:40
  SPEAKER_03: She has quite a vast experience in financial planning, and everybody knows about me.
• 0:46
  SPEAKER_03: You know, I I I like investing in property and businesses.
• 0:49
  SPEAKER_03: So we're gonna have a bit of a hopefully it can be an entertaining lee bit.
• 0:55
  SPEAKER_03: Uh let's see how it goes.
• 0:56
  SPEAKER_03: So, Sanali, what's your biggest eye roll moment with me?
• 1:01
  SPEAKER_03: I found a block of land, I want to buy it.
• 1:05
  SPEAKER_00: It happens too often, and then I'm left to do the paperwork.
• 1:12
  SPEAKER_03: Is that why you roll your eyes all the time?
• 1:14
  SPEAKER_00: Yeah, it's annoying.
• 1:16
  SPEAKER_03: Okay, that's interesting.
• 1:18
  SPEAKER_03: So if the paperwork goes away, it's okay with you.
• 1:21
  SPEAKER_00: No, no, that's not what it's saying.
• 1:23
  SPEAKER_00: No, no, no.
• 1:24
  SPEAKER_00: I have we still have to do the numbers, obviously, but if it makes sense, we'll buy it.
• 1:29
  SPEAKER_00: But yeah, I can't keep buying everything we see.
• 1:32
  SPEAKER_00: And yes, there are lots of opportunities that come up.
• 1:36
  SPEAKER_00: Let's give it to some of the clients as well, you know.
• 1:39
  SPEAKER_03: Yeah, of course.
• 1:40
  SPEAKER_03: Um now speaking of clients, clients also, I believe, have have the same sort of issues when they want to make a decision, they uh this is again my opinion.
• 1:51
  SPEAKER_03: Uh, you can shut me down.
• 1:53
  SPEAKER_03: Um I think they they they talk too much about the investment, they do too much.
• 1:58
  SPEAKER_00: Talk to their wife too much, is it?
• 2:00
  SPEAKER_03: Yeah, they're way too many questions from from uh you know wife and go to chat GPT or you know, they they they waste way too many time, way too much of time, in my opinion.
• 2:12
  SPEAKER_03: What do you say about that?
• 2:13
  SPEAKER_00: That is partly true, I think.
• 2:15
  SPEAKER_00: If you're gonna be investing, I feel like you should have your mindset right anyway.
• 2:21
  SPEAKER_00: If there are opportunities, good opportunities that come on, you should be in a position to jump on it straight away without getting into sort of analysis paralysis.
• 2:32
  SPEAKER_00: Um I see way too often customers looking at things, comparing things, asking way too many people who don't really know uh that person's situation and can give uh conflicting advice.
• 2:44
  SPEAKER_00: So sometimes it is good to do the analysis, but overanalyzing and um being too critical about things, asking way too many people can become a problem and mean that you miss good opportunities.
• 3:00
  SPEAKER_00: Um so yeah, I agree with you.
• 3:04
  SPEAKER_00: Um, but there is um the flip side is you do need to do your numbers.
• 3:09
  SPEAKER_00: Obviously, if it's an investment decision, if the numbers stack up, you should go for it.
• 3:14
  SPEAKER_03: There you go.
• 3:15
  SPEAKER_03: She agreed with me.
• 3:16
  SPEAKER_00: Okay.
• 3:19
  SPEAKER_03: Okay, I'm gonna I'm gonna I'm gonna ask you a question on this.
• 3:23
  SPEAKER_03: This is this is one of those things that I think we still argue about.
• 3:27
  SPEAKER_03: You know, you you a lot of people have superannuations, you know, husband and wife.
• 3:32
  SPEAKER_03: Husband has 70,000, wife has 50,000, all together.
• 3:35
  SPEAKER_03: You know, you you you have$120,000 worth of uh superannuation.
• 3:41
  SPEAKER_03: Now, sonali, majority of these guys, you know, their superannuations are not not doing that well.
• 3:47
  SPEAKER_03: By the time they come to the retirement of 60 years, 65 years, I don't think they'll they'll have enough money in that superannuation for them to retire well.
• 3:57
  SPEAKER_03: I think they need to invest, get into the property market now itself.
• 4:01
  SPEAKER_03: What would you say as a financial planner in a situation like that?
• 4:06
  SPEAKER_03: What is your opinion on this?
• 4:08
  SPEAKER_03: In a situation like if they had husband and wife,$70,000 for for husband,$50,000 on the wife, or you can flip it.
• 4:16
  SPEAKER_03: I mean wife can have$70,000, husband can have$50,000.
• 4:20
  SPEAKER_00: No reason why the husband should have more money.
• 4:22
  SPEAKER_03: Yeah, so you know, give this a price.
• 4:24
  SPEAKER_03: Um$120,000 total.
• 4:27
  SPEAKER_03: I say use the money, use$100,000, buy an Indus one property.
• 4:32
  SPEAKER_03: What would you say?
• 4:33
  SPEAKER_00: Within a self-managed superfund.
• 4:35
  SPEAKER_00: Yes.
• 4:35
  SPEAKER_00: Yeah, probably not.
• 4:37
  SPEAKER_00: Why not?
• 4:38
  SPEAKER_00: Because that's I don't think that's enough money to start a self-managed super fund in the first place.
• 4:43
  SPEAKER_00: Because if you're going to be having only$120,000 in the account, you have to leave aside at least$20,000 for costs and things like that.
• 4:53
  SPEAKER_00: You're left with$100,000 to put towards a deposit for a property.
• 4:57
  SPEAKER_00: Okay.
• 4:58
  SPEAKER_00: But also, it tells me if that is all you have accumulated, the income for each of these people wouldn't be too high.
• 5:04
  SPEAKER_00: So their super guarantee is not going to be too high on an ongoing basis to be able to service a loan within the self-managed super fund.
• 5:13
  SPEAKER_00: So if you work backwards, you're not going to be able to borrow enough of a loan, get enough of a loan to be able to buy a reasonable enough property which will give you capital growth and income in the long run.
• 5:25
  SPEAKER_03: Yeah.
• 5:25
  SPEAKER_03: So if we if we if we uh isolate the supercontribution as an example, if you can service a loan within within the superfund itself, you know, you you use$100,000 as your uh uh contribution, you you buy a property at$500,000, you borrow$400,000.
• 5:42
  SPEAKER_03: If you can service that within the super uh animation itself, so SMSF itself, why wouldn't you buy it?
• 5:49
  SPEAKER_00: I wouldn't say no for everybody.
• 5:52
  SPEAKER_00: I wouldn't say yes for everybody either.
• 5:54
  SPEAKER_00: There are in certain circumstances it would work for some people, in certain circumstances it wouldn't.
• 5:59
  SPEAKER_00: It depends on each person's risk tolerance, what they want to do, how much of this they understand, because it's not something that's easy to comprehend.
• 6:10
  SPEAKER_00: It's quite a complicated structure.
• 6:11
  SPEAKER_00: You shouldn't really get into it just because somebody says, oh, uh, you can buy property through it, and that's that's what it is.
• 6:18
  SPEAKER_00: But you have to have a reasonable enough understanding of what you're getting into, the time required to manage a superfund superfund, even with the help of like a professional.
• 6:29
  SPEAKER_00: Um, so it's not for everybody, but it is suitable for some clients.
• 6:33
  SPEAKER_00: We've seen, I mean, I'm we've seen enough clients come through the door.
• 6:37
  SPEAKER_00: They have varying degrees of risk tolerances.
• 6:40
  SPEAKER_00: Some of them are very risk-aberse.
• 6:42
  SPEAKER_00: So for those sorts of clients, this is not something that I would recommend.
• 6:46
  SPEAKER_00: They are much better off staying where they are and looking at a more conservative sort of investment.
• 6:51
  SPEAKER_00: But if you are able to sort of sleep at night doing something a little bit more risky, you can certainly look at something like this.
• 6:58
  SPEAKER_00: I would say uh majority for majority of people, look at it when your combined super balance hits about 200,000 because there are fees involved in setting these things up, ongoing management of it.
• 7:10
  SPEAKER_00: And they are flat fees usually.
• 7:12
  SPEAKER_00: So um, if you look at it as a percentage of your account balance, um, you'll be putting a hell of a lot of money towards fees if you start something with about 100K.
• 7:22
  SPEAKER_00: Um, but as and when the balance goes up, um, it makes it more worthwhile.
• 7:28
  SPEAKER_00: So certainly not for everyone, but also I wouldn't say um no.
• 7:33
  SPEAKER_00: Um, some people, of course, you should do it.
• 7:36
  SPEAKER_00: So it just depends.
• 7:37
  SPEAKER_00: It's a conversation we need to have before we just go and generalize and recommend it for everyone.
• 7:43
  SPEAKER_03: Interesting.
• 7:44
  SPEAKER_03: So if somebody have uh a superannuation, husband and wife, as I mentioned, my previous example, uh, they could have started their uh you know um employment journey five years ago as an example.
• 8:00
  SPEAKER_03: Um very simple stuff here.
• 8:03
  SPEAKER_03: You know, they will be working till 60 in the current uh working environment.
• 8:09
  SPEAKER_00: Probably a bit more than that, the waitings are going.
• 8:14
  SPEAKER_03: That's what it says.
• 8:16
  SPEAKER_03: That's what the superannuations they they do their marketing.
• 8:19
  SPEAKER_03: You know, you you have your super, you retire, you know, beautiful place you're living, you you know, you're driving your you know a 1967 Ford Mustang GT, you are cruising down the road.
• 8:33
  SPEAKER_03: Not everybody the marketing the superannuation gives.
• 8:37
  SPEAKER_00: But you yeah, not everybody will achieve that.
• 8:41
  SPEAKER_00: People don't look at it enough to be able to achieve it.
• 8:45
  SPEAKER_00: People don't look at it with enough time to spare for them to do things about it.
• 8:50
  SPEAKER_00: Um yeah, so a lot of people won't be able to do that whole driving off into the sunset.
• 8:56
  SPEAKER_03: So so Sunali, uh in a in a in a couple like that, 120,000 as a total, then they work for the next uh uh 35 years, right?
• 9:10
  SPEAKER_03: Right?
• 9:10
  SPEAKER_03: As an example, if they start at 120 at this level, 30 years later, do you think these superannuation will give them enough money to to retire?
• 9:22
  SPEAKER_01: I don't know.
• 9:25
  SPEAKER_04: I won again.
• 9:27
  SPEAKER_01: That's too generic a question.
• 9:29
  SPEAKER_00: I don't know how they are investing.
• 9:31
  SPEAKER_00: They can be invested in the most conservative risk profile, they can be invested in a high growth risk profile.
• 9:36
  SPEAKER_00: How would I know?
• 9:37
  SPEAKER_03: Exactly.
• 9:38
  SPEAKER_03: This is why they need to come to TFS and actually speak to uh uh expertise and learn what is your superannuation is actually doing.
• 9:47
  SPEAKER_00: You know, you may you may have a good superannuation, but you you you you think it's actually doing well, but trust me, in a underlying investments, um, you have to have look at the underlying investments in the sort of fund, just not what what the name of the fund is.
• 10:02
  SPEAKER_03: But then the role of thumbs on Ali, if you if you go and invest that money in property, it's always gonna go up.
• 10:09
  SPEAKER_03: You're always gonna have a compounding growth.
• 10:11
  SPEAKER_03: No.
• 10:11
  SPEAKER_03: For the next 30 years, what is a property value could be?
• 10:14
  SPEAKER_00: How many clients have you seen come through the door who bought a property?
• 10:18
  SPEAKER_00: It's not always gone up.
• 10:20
  SPEAKER_00: They haven't looked at the fundamentals of property investment.
• 10:23
  SPEAKER_00: They've just gone and bought something because it's down their street or somebody told them to buy or whatever.
• 10:28
  SPEAKER_00: It doesn't always go up.
• 10:29
  SPEAKER_00: You have to make sure that it stacks up as a proper property investment.
• 10:35
  SPEAKER_03: But 30 years later, if you if you buy uh a property, 30 years later, if you buy a property, now I mean you buy your property 500,000.
• 10:43
  SPEAKER_03: Now, 30 years later, how much do you think that property will be worth in in your in your professional opinion?
• 10:49
  SPEAKER_03: When you advise to a financial planning client who should do it like me, you know, I'm I am always wanted to put property into my super, as you know.
• 10:58
  SPEAKER_03: So, what would you advise 30 years later?
• 11:01
  SPEAKER_03: What would this property be, Sonali?
• 11:03
  SPEAKER_00: You're treating me like Chad GPT now.
• 11:05
  SPEAKER_00: I don't know.
• 11:06
  SPEAKER_00: It depends on where it is.
• 11:08
  SPEAKER_03: Oh, be easy.
• 11:10
  SPEAKER_00: It depends on where it is or the growth rate is.
• 11:13
  SPEAKER_00: I would I yeah.
• 11:14
  SPEAKER_00: No, I don't know how to answer that.
• 11:16
  SPEAKER_04: So it's go up in value.
• 11:17
  SPEAKER_00: Honestly, stop recording.
• 11:18
  SPEAKER_00: I don't know how to answer this question.
• 11:20
  SPEAKER_00: Stop asking me specifics like that.
• 11:22
  SPEAKER_00: Goes up in value.
• 11:23
  SPEAKER_00: No, so how much would it be in 30 years?
• 11:25
  SPEAKER_00: I don't know.
• 11:26
  SPEAKER_03: I don't know, that's what I'm telling you.
• 11:28
  SPEAKER_03: So you only thousand, it will be at least 1.5 billion.
• 11:31
  SPEAKER_00: Okay, so say, I don't know.
• 11:33
  SPEAKER_00: You know, I don't like making just statements like that.
• 11:38
  SPEAKER_03: I know, I know that, but but but the reality is when you buy bricks and mortar, they always gonna go up in value.
• 11:44
  SPEAKER_01: Don't like all this.
• 11:50
  SPEAKER_03: Usually go up in value.
• 11:52
  SPEAKER_03: Yeah, you go usually go up in value.
• 11:54
  SPEAKER_03: Yeah, yeah.
• 11:54
  SPEAKER_03: Okay.
• 11:55
  SPEAKER_03: So nothing to stop.
• 11:56
  SPEAKER_03: This is the whole podcast about asking questions from you and uh and giving my opinion.
• 12:04
  SPEAKER_03: So as a as a woman, as a as a mother of with you know of two kids, how are you managing um the the the work load that you have?
• 12:19
  SPEAKER_03: Because CEO role is not going to be like a a simple role, right?
• 12:26
  SPEAKER_03: There's a quite a lot of working all different times you have to work, different times you get calls to do it.
• 12:32
  SPEAKER_03: I know sometimes I call you asking you what's happening.
• 12:35
  SPEAKER_01: Sometimes.
• 12:36
  SPEAKER_03: Sometimes.
• 12:38
  SPEAKER_03: Right.
• 12:39
  SPEAKER_03: So how do you manage this this workload with with the children and how you you know um how do you keep your mental state focus on your on your game?
• 12:51
  SPEAKER_00: I have a lot to know the I have a very supportive husband who does half of the uh housework.
• 12:57
  SPEAKER_00: Oh wait, no, that's not me.
• 12:59
  SPEAKER_01: No, I don't have that.
• 13:05
  SPEAKER_01: No, I just do what I can.
• 13:07
  SPEAKER_03: It is what we do support you.
• 13:10
  SPEAKER_00: You have su yeah, yeah.
• 13:12
  SPEAKER_00: You are supportive, but you don't do half of the housework.
• 13:15
  SPEAKER_00: Come on.
• 13:16
  SPEAKER_00: You don't.
• 13:16
  SPEAKER_03: Half of the housework is supposed to be done by you, half of the other half is done by me.
• 13:21
  SPEAKER_03: That's why we had 50-50 arrangements.
• 13:24
  SPEAKER_00: We have more like a 99-1 arrangement, but let's not go there.
• 13:28
  SPEAKER_00: Um I do what I can.
• 13:31
  SPEAKER_00: It it is what it is.
• 13:33
  SPEAKER_00: If I don't get to do some of the things in the house, then too bad.
• 13:36
  SPEAKER_00: But if you come home and complain about it, that'll be another story.
• 13:39
  SPEAKER_00: But as long as you don't complain about it, no problem.
• 13:41
  SPEAKER_03: Yeah, so listeners know that I don't do that, and you also know I don't do that.
• 13:45
  SPEAKER_03: So get so your your your answer is you you you prioritize what needs to be prioritized.
• 13:51
  SPEAKER_00: Okay.
• 13:51
  SPEAKER_00: On a given day.
• 13:53
  SPEAKER_00: It might be work, it might be the kids, it might be, you know, a friend or whatever, but uh whatever needs to happen on that day will happen.
• 14:04
  SPEAKER_00: And the rest will go down the list.
• 14:08
  SPEAKER_03: Okay, interesting.
• 14:09
  SPEAKER_03: There you go.
• 14:10
  SPEAKER_03: Now, Sonali, uh before I wrap up for this episode, I know this is it's been a uh a bit of a special episode.
• 14:18
  SPEAKER_00: Yeah, because I don't usually come on these things, I don't like doing that.
• 14:22
  SPEAKER_03: Exactly.
• 14:22
  SPEAKER_03: I want to ask you, um if you flip it.
• 14:27
  SPEAKER_03: Now I'm the financial planner, I'm the one who's gonna look at the numbers and make the decisions.
• 14:34
  SPEAKER_03: If you were gonna be like me, who just find a property, okay, this bank I want to buy, what kind of properties usually you would go to?
• 14:45
  SPEAKER_04: What sort of properties you would like to buy to your portfolio?
• 14:51
  SPEAKER_00: I don't think I would make two decisions too differently to the way you do it either, because I think it depends on the um stage that you're in in your property investment journey.
• 15:06
  SPEAKER_00: Right now, I would probably look for a couple of properties that I can maybe subdivide and put a few more units on it or something like that.
• 15:16
  SPEAKER_00: But initially at the beginning of our property journey, I wouldn't have looked at things like that because you kind of need to walk before you run.
• 15:24
  SPEAKER_00: Um, you need to kind of get into the property market, understand how these things work, and then get to the more complicated levels.
• 15:34
  SPEAKER_00: Um, it also depends on the structures that you know we've we do now when we invest in property compared to what we used to do before.
• 15:43
  SPEAKER_00: So initially in the first, the second one, it would be fairly simple.
• 15:47
  SPEAKER_00: Whereas if you're looking to build something more complex, you kind of need to know.
• 15:52
  SPEAKER_00: So I would it's very different.
• 15:55
  SPEAKER_00: It depends on this on the stage you're at.
• 15:57
  SPEAKER_00: So if we were to look at it now, I would probably look at something where we can subdivide and put a couple of units on and sell.
• 16:04
  SPEAKER_00: So more the development sort of projects right now.
• 16:08
  SPEAKER_03: So I'm gonna I'm gonna I'm gonna ask you a question on that because you just you just gave me a pretty good idea on this.
• 16:15
  SPEAKER_03: Um Pitch us your dream portfolio or pitch me the dream portfolio.
• 16:23
  SPEAKER_01: Um this is uh I don't think this is a trap.
• 16:27
  SPEAKER_00: Trick question.
• 16:29
  SPEAKER_03: I'm sure the listeners want to know.
• 16:31
  SPEAKER_00: Uh dream, I haven't really thought about it that way.
• 16:34
  SPEAKER_00: For me, it's to do with diversification.
• 16:37
  SPEAKER_00: I don't want to have the same sort of property in the same state um or in the same area.
• 16:42
  SPEAKER_00: I want to diversify.
• 16:44
  SPEAKER_00: I don't like putting all my eggs in one basket.
• 16:47
  SPEAKER_00: So maybe types of properties, the location of properties, um the like when I say types, it can be like townhouses or um fully detached houses.
• 17:00
  SPEAKER_00: We have you know a couple of apartments in our portfolio as well.
• 17:04
  SPEAKER_00: Um yeah, so it's more to do with diversification essentially.
• 17:10
  SPEAKER_03: Would you would you would you add shares, manage funds?
• 17:14
  SPEAKER_00: Um, so I sorry, I thought you were asking.
• 17:17
  SPEAKER_03: Yeah, dream dream portfolio.
• 17:20
  SPEAKER_00: Yeah, definitely.
• 17:21
  SPEAKER_00: Because shares have their own merits.
• 17:23
  SPEAKER_00: Um there are some stop making faces.
• 17:29
  SPEAKER_00: They do.
• 17:30
  SPEAKER_00: So, you know, it you have to understand how it works because it's not just um you can start small, not like property, because you need borrowing capacity.
• 17:41
  SPEAKER_00: It's a different different thing altogether.
• 17:44
  SPEAKER_00: So um it all works in a diversified portfolio.
• 17:49
  SPEAKER_00: You kind of need to have all of these things to work for you, basically.
• 17:54
  SPEAKER_00: So I would definitely put shares as well in there.
• 17:58
  SPEAKER_03: Um any other assets, clutters, like businesses you would put into your portfolio as like buying businesses, cash flow positive business investments, things like that.
• 18:07
  SPEAKER_00: Yeah, yeah, definitely.
• 18:09
  SPEAKER_00: Yeah.
• 18:10
  SPEAKER_00: Um if it's for for a client, I always say it depends on the client.
• 18:15
  SPEAKER_00: It depends on their risk appetite.
• 18:18
  SPEAKER_00: Um, so there's no generic answer to any of these questions because it's all to do with investing and how you feel about it, right?
• 18:25
  SPEAKER_00: So there are some customers I would never recommend to invest in shares because shares will um it's very easy to check the value of shares at any given hour, you know.
• 18:37
  SPEAKER_00: So if somebody is really, you know, uh low risk, they would keep looking at it and it would just upset the hell out of them if they say dipping.
• 18:46
  SPEAKER_00: So for those sorts of people, we wouldn't do shares.
• 18:49
  SPEAKER_00: Whereas, you know, for someone who understands um how you know dividends work, how capital growth works.
• 19:00
  SPEAKER_03: Yeah.
• 19:01
  SPEAKER_03: So your boys going all over the place, you should put it down a bit so that way they don't.
• 19:05
  SPEAKER_01: How do I put it down?
• 19:06
  SPEAKER_01: Okay.
• 19:08
  SPEAKER_03: So we we're coming to the end of the podcast, Sonali, right?
• 19:12
  SPEAKER_03: So I'm gonna I'm gonna get you into um very quick segments.
• 19:17
  SPEAKER_03: Um coming to the end.
• 19:20
  SPEAKER_03: Sonali, tell me.
• 19:22
  SPEAKER_03: What's one myth you want to bust?
• 19:24
  SPEAKER_03: Property is always safe, or shares are always smarter.
• 19:30
  SPEAKER_00: Both are myths, it's not one.
• 19:32
  SPEAKER_04: No one.
• 19:33
  SPEAKER_00: No.
• 19:34
  SPEAKER_04: Okay.
• 19:34
  SPEAKER_00: Property is not always safe.
• 19:36
  SPEAKER_00: You have to make sure the fundamentals are right when you're investing in property.
• 19:41
  SPEAKER_00: Same goes for shares.
• 19:42
  SPEAKER_00: Shares are not always smarter.
• 19:44
  SPEAKER_00: You can invest in the most dud share and lose your money.
• 19:48
  SPEAKER_00: So again, you have to look at the fundamentals of that company that you're investing in or um whatever the exchange traded fund or whatever it is that you're investing in.
• 19:57
  SPEAKER_00: So yeah, the ultimate.
• 20:00
  SPEAKER_03: Thank you.
• 20:01
  SPEAKER_03: What advice would you give to couples trying to combine two different investing mindsets?
• 20:07
  SPEAKER_00: Oh, that's a funny one.
• 20:10
  SPEAKER_00: Uh you need to have quite a few conversations, probably even before you come and see a professional, because um yeah.
• 20:23
  SPEAKER_00: Because it's if it's joint money that you're investing, then both of you need to be on board with it.
• 20:30
  SPEAKER_03: Yeah, I think that's uh I think that's a it's a whole different part.
• 20:37
  SPEAKER_03: We can uh we can talk about this.
• 20:39
  SPEAKER_03: What advice would would uh Sanali keep to couples trying to combine two different investing mindsets?
• 20:47
  SPEAKER_03: So stay tuned, guys.
• 20:49
  SPEAKER_03: Alright, closing question, Sanali.
• 20:51
  SPEAKER_03: Here we go.
• 20:52
  SPEAKER_03: Final word if your if your child if your children comes to you for advice, mum says shares, dad says property, who wins and why?
• 21:07
  SPEAKER_04: Let's go quickly.
• 21:08
  SPEAKER_04: Both.
• 21:09
  SPEAKER_04: Both.
• 21:11
  SPEAKER_04: Why both?
• 21:13
  SPEAKER_01: Like I said before, diversify and also mitigate your risks.
• 21:17
  SPEAKER_01: Mitigate the risks.
• 21:18
  SPEAKER_04: Yeah.
• 21:19
  SPEAKER_04: Yeah.
• 21:20
  SPEAKER_01: And also it's always good for the kids to see that we both win.
• 21:24
  SPEAKER_03: Absolutely.
• 21:26
  SPEAKER_03: I'll probably get them to buy a bit more property.
• 21:27
  SPEAKER_03: No, no.
• 21:28
  SPEAKER_03: So I always like to win.
• 21:31
  SPEAKER_03: Properties is always good.
• 21:32
  SPEAKER_03: In I in my my my experience is always at work.
• 21:35
  SPEAKER_03: Well, but guys, my experiences are not always the full story.
• 21:40
  SPEAKER_03: You have to understand the other side of the experience.
• 21:42
  SPEAKER_03: That's why we bring Sonali here.
• 21:44
  SPEAKER_03: Uh this is how the TFS was built.
• 21:47
  SPEAKER_03: So TFS is not built just to do a mortgage and earn a commission.
• 21:54
  SPEAKER_03: TFS is built with uh with with this passion.
• 21:58
  SPEAKER_03: Sonali, Sonali's and and my passion.
• 22:00
  SPEAKER_03: No, actually.
• 22:01
  SPEAKER_00: That is actually true.
• 22:02
  SPEAKER_00: I think we should say that because whenever we look at anyone's investment, any client that comes through the door, they we overlay it with your experience and your thought process as well as mine.
• 22:14
  SPEAKER_00: So then you get the best of both worlds.
• 22:16
  SPEAKER_00: You get somebody who is who is okay to take risks, but you also get another person who likes taking calculated risks.
• 22:23
  SPEAKER_00: So we don't really let customers go crazy with risk either.
• 22:27
  SPEAKER_00: Um it's a calculated risk, but we are also aware that you can't just keep money in the account and get rich.
• 22:35
  SPEAKER_00: So um that you do need to put your money into investments that will give you long-term growth and build wealth over the long run.
• 22:45
  SPEAKER_00: So um when people come to us, that's what they get.
• 22:49
  SPEAKER_00: They get both of us looking at it.
• 22:52
  SPEAKER_03: Absolutely.
• 22:52
  SPEAKER_03: So so this passion, the way we created TFS, Sonali's uh expertise and and and experience and her passion into investing and and creating wealth.
• 23:04
  SPEAKER_03: My passion into creating wealth and and growing businesses, that's what TFS is.
• 23:11
  SPEAKER_03: Even to this date, all our uh team members uh in in Ireland, in other states, in in like in Shalangra, we all have the same, and that's that's what TFS is.
• 23:24
  SPEAKER_03: So um so I always say you cannot compare this and you cannot reproduce this.
• 23:30
  SPEAKER_03: So want to find out about more what we can offer and and who we are and why we do these things.
• 23:37
  SPEAKER_03: Waste your time with competitions, right?
• 23:40
  SPEAKER_03: They say it's competition, it's not competition for us.
• 23:43
  SPEAKER_03: Come and talk to us.
• 23:45
  SPEAKER_03: We are real people.
• 23:46
  SPEAKER_03: So Nanali, I thank you so much for coming to the podcast.
• 23:50
  SPEAKER_03: Um, you're definitely gonna be coming back again.
• 23:54
  SPEAKER_01: In another year, maybe.
• 23:56
  SPEAKER_02: Thank you for tuning in to another episode of the TFS Podcast, where we turn knowledge into action and big goals into real results.
• 24:05
  SPEAKER_02: Now, don't forget to like and subscribe and share this episode with someone working towards their next financial step.
• 24:15
  SPEAKER_02: Now, with that being said, until next time, keep building.