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How She Went From High School Dropout to $750k Net Worth · 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, yak um jar dominyamiga Umagahawakaman damon Imlan Wumba
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  Speaker 1: bang Gadabomba in and now in wakah ghana on yakraum
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  Speaker 1: jar Watnadaa. Hello, beautiful friends, we gather on the lands
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  Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
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  Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure
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  Speaker 1: in all the land and respect all that you see.
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  Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
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  Speaker 1: bringing you 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. Hello, and
• 1:08
  Speaker 2: welcome to She's on the Money, the podcast that lets
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  Speaker 2: you be pervy about other people's money habits for educational purposes,
• 1:15
  Speaker 2: of course. Welcome back to another one of our Money
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  Speaker 2: Darry's episodes where I get the absolute pleasure of sitting
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  Speaker 2: down and having a chat with one of our She's
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  Speaker 2: on the Money community members all about their money journey.
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  Speaker 2: Let's jump straight into it, because I got an email
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  Speaker 2: this week and it sounded exactly like this. Hi, she's
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  Speaker 2: on the money. When I was twenty one, my partner
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  Speaker 2: sadly died and we had been together for seven years.
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  Speaker 2: He had no will and his family got everything, including
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  Speaker 2: the house, so I left my hometown and traveled to
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  Speaker 2: work around Australia. Now I'm in mining and my taxable
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  Speaker 2: income is two hundred and three thousand dollars a year,
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  Speaker 2: which is crazy to me. But I can't share my
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  Speaker 2: financial victories with my friends or family, as they all
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  Speaker 2: see it as bragging. But my current networth is seven
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  Speaker 2: hundred and fifty thousand dollars completely solo money arrest, welcome
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  Speaker 2: to the show.
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  Speaker 3: Thank you.
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  Speaker 2: Also, it's not bragging. We are sharing our journeys so
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  Speaker 2: that other people can learn.
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  Speaker 3: Well, that's right, but it is very hard to find
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  Speaker 3: people that like to do the same thing.
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  Speaker 2: It is true, I think because for so long, like
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  Speaker 2: it's been so taboo to talk about money. But like, sorry,
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  Speaker 2: the more we talk about money, especially as women weird,
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  Speaker 2: the more power we have, the more choice we have.
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  Speaker 2: Do you know what they don't like? That do they No,
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  Speaker 2: they really don't. No, they don't like that. And given
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  Speaker 2: your in mining, I feel like that might be a
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  Speaker 2: sticky conversation to have, especially if you're a little bit
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  Speaker 2: more financially savvy, especially as a female. So before we
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  Speaker 2: get any further into it, I need to know if
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  Speaker 2: I asked you to give your money habits a grade
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  Speaker 2: from A through to F, what do you think you
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  Speaker 2: would grade them?
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  Speaker 3: I would say A B, A B.
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  Speaker 1: All right.
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  Speaker 2: I am very excited to learn more about this. But
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  Speaker 2: before we get into why you've given yourself a BEE,
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  Speaker 2: I want to go all the way back to when
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  Speaker 2: you were twenty one, because you have stayed in your
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  Speaker 2: diary in you're forty one now, so this was like
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  Speaker 2: twenty years ago, but I can imagine it still feels
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  Speaker 2: relatively fresh. What is it like when you are twenty
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  Speaker 2: one and you've been with your partner for seven years,
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  Speaker 2: which is literally the entire period where you're like forming
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  Speaker 2: your personality and yourself for them to pass away.
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  Speaker 3: It was devastating and it's amazing. Again, you don't know
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  Speaker 3: what you don't know. So when his family, because we
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  Speaker 3: both had very rocky family lives when were younger, that's
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  Speaker 3: why we kind of clung to each other and we
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  Speaker 3: were like we were everything to each other. So when
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  Speaker 3: they got the house, it was like I'd failed him
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  Speaker 3: at the same time as losing him. So could I
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  Speaker 3: have fought for the house. And a lot of people
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  Speaker 3: say yes, but you had rights to the house. Yes,
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  Speaker 3: I would have, and I did try to fight for
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  Speaker 3: a bit, but my mental state at that stage wasn't
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  Speaker 3: there so I did have the ability to fight for it.
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  Speaker 3: I did try and ended up with a solicitors bill
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  Speaker 3: out of the whole thing.
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  Speaker 2: So wow, money win.
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  Speaker 1: Yeah. Yeah.
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  Speaker 3: And I remember it was about eight or nine months
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  Speaker 3: after he died that the solicitor actually contacted me and
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  Speaker 3: I'd moved away by then, ran away, which was the
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  Speaker 3: best thing I ever done, by the way.
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  Speaker 2: Yeah, good, good job, queen.
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  Speaker 1: Yeah.
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  Speaker 3: But he was like, you know, oh, because work as
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  Speaker 3: comps come into it, because it was on the way
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  Speaker 3: home from work, it's now worth a lot of money.
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  Speaker 3: Where happy to fight for you? And I'm like, I
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  Speaker 3: wanted the house. They're already in there, they would have
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  Speaker 3: already ruined it. So the one thing I wanted I
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  Speaker 3: don't want anymore.
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  Speaker 2: Oh, and you do what that's so shitty. I'm so sorry.
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  Speaker 2: There's nothing I can say that like changes that, but ah,
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  Speaker 2: I just I really feel for you because that's so formative,
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  Speaker 2: like being together with someone for seven years at twenty
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  Speaker 2: one and you kind of like grow with that person
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  Speaker 2: and like learn about yourself with that person and then
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  Speaker 2: to have it all ripped away, like oh, and you
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  Speaker 2: said that you were from rocky families and you clung
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  Speaker 2: to each other Like, ah, that's it's so heartbreaking. But
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  Speaker 2: nobody thinks when they're twenty one that their life is
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  Speaker 2: as fragile as it is.
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  Speaker 3: Yeah, and it really Again, you learn so much from that,
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  Speaker 3: Like if I look back, everything does happen for a reason,
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  Speaker 3: and I definitely wouldn't have moved away from my hometown
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  Speaker 3: and lived the incredible life I have without that happening.
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  Speaker 3: Major learning curve. You know most people learn it later
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  Speaker 3: on in life when they get divorced.
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  Speaker 2: Oh yeah, you got that really early. And I can
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  Speaker 2: guarantee you right now, he's so proud of you. He's like, girl, like,
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  Speaker 2: what do you mean You've done all of this? Like
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  Speaker 2: he's so ridiculously proud, but at the same time, like, sorry,
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  Speaker 2: let's go back a little bit before all of this happened.
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  Speaker 2: You were twenty one who owned a house. Yeah, so
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  Speaker 2: I was seventeen when we bought it. I was seventeen.
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  Speaker 2: He was nineteen. Oh okay, older boy, I like this, Yeah,
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  Speaker 2: by two years. Who sorry, when you're seventeen, that feels
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  Speaker 2: like a lot, it does, yep.
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  Speaker 3: And our house price back then was fifty two thousand dollars. Yeah,
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  Speaker 3: and the first home buyers grant was seven thousand dollars.
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  Speaker 3: So basically thirteen percent of it come from the government.
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  Speaker 3: So okay, yeah, we got told, you know, put it
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  Speaker 3: just in one name, because then later on you can
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  Speaker 3: get the first home buyers in the other person's name.
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  Speaker 3: That's the only reason it was in just his name.
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  Speaker 2: Oh ah, Like great advice, I think, yeah.
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  Speaker 3: And looking back, I would probably do the same thing again. Now.
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  Speaker 3: You know, if they offered the thirteen percent of any home,
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  Speaker 3: now you jump at it, you know, and put in
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  Speaker 3: your one person's name.
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  Speaker 2: Oh take my money, Like absolutely, I get it that
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  Speaker 2: having that ripped away would have been heartbreaking. And then
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  Speaker 2: you made the decision to quote run away. What's that
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  Speaker 2: look like?
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  Speaker 3: So I got to the stage where everybody knew me
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  Speaker 3: and you were about us because it was a small
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  Speaker 3: town that we were from, so you couldn't go anywhere
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  Speaker 3: without anybody bringing it up. And I basically went, Okay,
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  Speaker 3: I need out. So I got another job on the
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  Speaker 3: other side of the country and ran away, and I
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  Speaker 3: literally did. I just packed everything and I was like,
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  Speaker 3: I'm out. If I'm honest, Even to this day, most
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  Speaker 3: of my stuff is still in storage at my.
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  Speaker 2: Mum and does and we god, yeap, yep, yeah, fair
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  Speaker 2: and yeah.
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  Speaker 3: I actually went away and started working on a fishing boat,
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  Speaker 3: and then from there I kind of got the travel
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  Speaker 3: bug and started moving around and started traveling Australia as
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  Speaker 3: a tour guy, picking up work whatever it was, wherever
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  Speaker 3: it was, and never chased money. Funnily enough, my mum
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  Speaker 3: is a bit of a whole.
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  Speaker 2: I mean she's still got all your stuff, yeah, twenty
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  Speaker 2: years later.
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  Speaker 3: So stuff really freaks me out. I remember when I
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  Speaker 3: first moved into a house after being in a van,
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  Speaker 3: and I bought a fridge and I'm like, oh my god,
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  Speaker 3: I can't just leave anymore. Now I've got a full
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  Speaker 3: bedroom house and it's full of stuff and it's just
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  Speaker 3: me and I'm like, how did I do that.
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  Speaker 2: Yeah, that's a lot more tied down. I'm not gonna lie,
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  Speaker 2: but that's okay because like, as you know, you could
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  Speaker 2: just leave whenever you want to leave. If you want
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  Speaker 2: to be over and out, you can be. It just
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  Speaker 2: depends on what you're willing to lose, I suppose. So
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  Speaker 2: talk to me more about this because you clearly have
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  Speaker 2: some and I won't get into money habits now, but
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  Speaker 2: you've clearly done a lot in the last twenty years,
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  Speaker 2: and leaving your hometown to go work on a fishing
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  Speaker 2: boat that wasn't on my BINGO card, Like I couldn't
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  Speaker 2: have guessed that that's what you would do. Was that
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  Speaker 2: because you had I don't know, experience in that space,
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  Speaker 2: interest in that space where you like, this is literally
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  Speaker 2: so different to what I'm doing. That's why, like, talk
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  Speaker 2: me through the thought pattern there, because like running away
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  Speaker 2: makes sense, but on the flip side, away to a
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  Speaker 2: fishing boat, Like where did that idea come from?
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  Speaker 3: So I was a tour guide in my hometown and
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  Speaker 3: the fishing boat was a hostess position, so I was
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  Speaker 3: basically serving cocktails and stuff like that.
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  Speaker 2: That's fun.
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  Speaker 3: Yeah, So I was like, okay, let's do this, let's
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  Speaker 3: just go. I'd never really been on a big boat before.
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  Speaker 3: And I remember the first day making beds and I
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  Speaker 3: was seasick as.
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  Speaker 2: Hell and I was just like, oh my god, what
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  Speaker 2: have I done?
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  Speaker 3: And my room back then when I because it was
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  Speaker 3: literally the other side of Australia nothing there was an
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  Speaker 3: old shipping container that didn't have doors or windows or anything. Basically,
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  Speaker 3: it was a big culture shock and it was like, really,
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  Speaker 3: what have I done? But I stuck it out and
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  Speaker 3: it got better and better from there.
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  Speaker 2: Really yeah, wow, So tell me what happens, Like how
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  Speaker 2: much do you get paid on fishing boat? Back then?
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  Speaker 3: It wasn't very much. And I've never chased money. I've
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  Speaker 3: always chased lifestyle, and I think that is what I
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  Speaker 3: learned from that, is that money can be taken away.
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  Speaker 3: So I've always made sure that I am protecting myself
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  Speaker 3: and I've got like very low risk tolerance. So debt
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  Speaker 3: is bad to me.
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  Speaker 2: Yep, that's it's okay, though, the most important thing is
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  Speaker 2: that you know that that's right.
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  Speaker 3: I do know that, So I've always stocked filed money.
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  Speaker 3: It's just in case, because you never know what's going
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  Speaker 3: to happen, and I never want to be homeless again.
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  Speaker 3: But yeah, getting paid on the fishing boat. Back then,
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  Speaker 3: it would have only been a few hundred a week.
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  Speaker 3: My first job when I first left school, because I
• 9:17
  Speaker 3: left school when I was fifteen, and my first job,
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  Speaker 3: I remember, my first paycheck was two hundred and thirty
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  Speaker 3: three dollars for the week and I was over the moon.
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  Speaker 2: That's a lot.
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  Speaker 3: Yeah, it was huge, and in my head even today,
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  Speaker 3: I still see myself as only being on thirty grand
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  Speaker 3: a year. So everybody's like, how do you save so much?
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  Speaker 3: I'm like, well, I just don't need a lot.
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  Speaker 2: You sound like Brook from my team, who recently did
• 9:37
  Speaker 2: an investing money diary with me, and she just like
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  Speaker 2: somehow has managed to outsmart life style creep like she
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  Speaker 2: just lives on the absolute bare minimum and saves the
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  Speaker 2: rest and invests the rest, and like, hats off to you.
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  Speaker 2: I wish I could be that cool. Tell me a
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  Speaker 2: little bit more. I want to get into it. So
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  Speaker 2: you've gone from I guess not chasing money. We are
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  Speaker 2: on a fishing boat. You've kind of gone rolled to roll.
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  Speaker 2: But girl, you're on two hundred and three thousand dollars
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  Speaker 2: and you're working in mining? What do you do in mining?
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  Speaker 2: And like, how is that salary package made up?
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  Speaker 3: Okay, so the two hundred and three is my taxable income,
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  Speaker 3: so it's a mix of a lot of stuff. My
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  Speaker 3: role in mining is I am an operator, so I
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  Speaker 3: drive the dozers, greaters, water cart stuff like that.
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  Speaker 2: Oh that's kind of fun.
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  Speaker 3: Yeah, it can be. It can also be really boring.
• 10:24
  Speaker 3: Don't worry.
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  Speaker 2: Okay, but right, that sounds very fun. Like that sounds
• 10:28
  Speaker 2: like a cool girl job.
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  Speaker 3: It is a cool girl job. When you say to
• 10:31
  Speaker 3: people you drive the big dosers, they're like wow, and
• 10:33
  Speaker 3: you're like, until you're in them.
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  Speaker 2: Yeah, I'm not going to lie. I would cry. I
• 10:37
  Speaker 2: would cry. That sounds really scary.
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  Speaker 3: And they're not that bad. Honestly, everybody says you're going
• 10:40
  Speaker 3: to not be able to have kids and all of that.
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  Speaker 3: They're actually smoother than a lot of other machines. So
• 10:44
  Speaker 3: don't believe everything. You're here and yeah, so my income
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  Speaker 3: from that is generally about one hundred and sixty K
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  Speaker 3: a year. I do do a lot of overtime, so
• 10:53
  Speaker 3: that pushes it up into the one eighties.
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  Speaker 2: Yeah, and then I.
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  Speaker 3: Bought a property last year, a rental property, which brings
• 10:59
  Speaker 3: in quite a bit of extra for me.
• 11:01
  Speaker 2: Oh, very nice. So tell me about the decision to
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  Speaker 2: buy a rental property as somebody who's relatively low tolerance
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  Speaker 2: and doesn't like debt.
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  Speaker 3: So I have been thinking about property for a long time,
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  Speaker 3: a very long time, and I bought a property in
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  Speaker 3: a mining town that I could buy out right.
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  Speaker 2: Yeah, so that was okay? Yeah, I see. I was like,
• 11:20
  Speaker 2: how like, I'm not saying it's wrong, but you said, look,
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  Speaker 2: I'm really really low tolerance. I was like, and she
• 11:25
  Speaker 2: doesn't like being tied down. So the idea of a
• 11:27
  Speaker 2: mortgage just wasn't sticking for me. You bought a house,
• 11:30
  Speaker 2: all right? Sorry, I meant to get into this later,
• 11:32
  Speaker 2: but how much does a house outright cost? When where?
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  Speaker 3: How So the house was four hundred and thirty five thousand.
• 11:39
  Speaker 2: And you just had that in your bank account.
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  Speaker 3: I actually, on the time a settlement I did. I
• 11:43
  Speaker 3: didn't think I would.
• 11:45
  Speaker 2: Who are you?
• 11:48
  Speaker 3: So I did take an offset loan out and I
• 11:50
  Speaker 3: still have it at the moment, but i'd pay no interest.
• 11:53
  Speaker 3: So over the course of the loan I've paid I
• 11:54
  Speaker 3: think three hundred dollars in interest the whole time. And
• 11:56
  Speaker 3: that was while I got it set up in the
• 11:57
  Speaker 3: first month.
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  Speaker 2: Unrelatable. I love they for us though, because we get
• 12:01
  Speaker 2: to learn. Is this because you kind of essentially delude
• 12:05
  Speaker 2: yourself into earning thirty thousand dollars a year? So is
• 12:08
  Speaker 2: that where this lifestyle comes into it? Talk to me about,
• 12:11
  Speaker 2: like what does life style look like? Because I think
• 12:13
  Speaker 2: that when you say to somebody, I own two hundred
• 12:16
  Speaker 2: grand plus, right, but then I live like I'm on
• 12:18
  Speaker 2: thirty thousand dollars, A lot of people would say, girl,
• 12:20
  Speaker 2: you're missing out. So tell me because you seem very happy.
• 12:25
  Speaker 2: You have an energy about you that I love, and
• 12:27
  Speaker 2: I just don't think that you're missing out on all
• 12:29
  Speaker 2: that much.
• 12:30
  Speaker 3: I'm not missing out on anything. So I live in
• 12:32
  Speaker 3: a small town, but I was brought up in a
• 12:34
  Speaker 3: small town, so a lot of people hate this town
• 12:36
  Speaker 3: because it's so small. Whereas I'm like, you know what,
• 12:38
  Speaker 3: We've got a supermarket, we've got a post office, we've
• 12:40
  Speaker 3: got a cafe. What more could you want?
• 12:41
  Speaker 2: Like, I mean, you're right, you're right.
• 12:43
  Speaker 3: I do drive an hour to get groceries most weeks.
• 12:46
  Speaker 3: So other than that, that's not too bad.
• 12:47
  Speaker 2: So fuel price is high, but also life satisfaction high.
• 12:52
  Speaker 3: Yeah. Yeah, And I work seven days on seven days off,
• 12:54
  Speaker 3: so you can always leave town on your seven days off.
• 12:56
  Speaker 3: So basically that pay check coming in is for six
• 12:58
  Speaker 3: months of the year. Where else can you get that?
• 13:00
  Speaker 2: Okay? Excuse me? So Tommy, what are you doing with
• 13:03
  Speaker 2: your seven days off?
• 13:04
  Speaker 3: Everybody asks me this, and I don't actually know. I'm
• 13:07
  Speaker 3: such a homebody. Like this week, I've got seven days
• 13:09
  Speaker 3: off and everybody's like, well, where are you going? Because
• 13:10
  Speaker 3: I took an extra two days off and I actually
• 13:12
  Speaker 3: went and climbed a mountain, you know, like that's me done.
• 13:15
  Speaker 3: I went for a hike. So the next seven days
• 13:17
  Speaker 3: I will probably lay in the sun.
• 13:19
  Speaker 2: I kind of love this for you. Can I be
• 13:22
  Speaker 2: really pervy about your personal life? Do you have a partner?
• 13:25
  Speaker 3: Like?
• 13:25
  Speaker 2: What does life like lifestyle at home look like?
• 13:28
  Speaker 3: I do not have a partner. I do have a
• 13:31
  Speaker 3: house which I live in, which is provided by the
• 13:33
  Speaker 3: mining company I work for. So I around twenty dollars
• 13:35
  Speaker 3: a week for a four bedroom house.
• 13:37
  Speaker 2: Oh that's way too much.
• 13:38
  Speaker 3: Yeah, I know, it's ridiculous, right, are you okay?
• 13:40
  Speaker 2: Will you recover?
• 13:41
  Speaker 3: They keep saying to me that I'm going to be
• 13:43
  Speaker 3: the one who knocks the house down because the mine's
• 13:45
  Speaker 3: only got five years left.
• 13:46
  Speaker 2: Oh that's kind of scary.
• 13:48
  Speaker 3: Yeah, and I'm like, not a chance. It's going on
• 13:50
  Speaker 3: the back of the truck. It's coming with me.
• 13:54
  Speaker 2: So you live in a very regional town. You're like
• 13:57
  Speaker 2: paying like twenty dollars. What was that a week? Yeah,
• 14:00
  Speaker 2: a week for a whole house. What are you doing
• 14:02
  Speaker 2: with the other bedrooms? I need to know because you
• 14:04
  Speaker 2: don't come across as a order. I feel like you
• 14:06
  Speaker 2: are a bit of a minimalist, aren't you.
• 14:07
  Speaker 3: I am, But I do have everything full low. It's
• 14:10
  Speaker 3: you know, it's got the gym equipment that you don't use.
• 14:12
  Speaker 3: It's got the normal stuff that everybody else has.
• 14:14
  Speaker 2: Yeah, okay, and I come.
• 14:15
  Speaker 3: Home for my puppy dog every single night. But it
• 14:17
  Speaker 3: is just me.
• 14:18
  Speaker 2: So you've bought a house outright for four hundred and
• 14:21
  Speaker 2: thirty five thousand dollars. You said you had an offset loan.
• 14:25
  Speaker 2: Does that mean that you have other properties or did
• 14:27
  Speaker 2: you just organize a loan for that property because you
• 14:30
  Speaker 2: just didn't think that you would get the finance and
• 14:32
  Speaker 2: the cash in time for that settlement.
• 14:34
  Speaker 3: Well, I've done the offset loan just as basically a
• 14:38
  Speaker 3: safety net. Yeah. I didn't want to have zero in
• 14:40
  Speaker 3: the bank, and that would have taken me back to zero,
• 14:42
  Speaker 3: So it was kind of a safety net. But I
• 14:44
  Speaker 3: managed to make it work, so it was good.
• 14:45
  Speaker 2: I love that. Talk to me, what are your next
• 14:47
  Speaker 2: big money goals? What are you currently working towards? Because
• 14:49
  Speaker 2: you have a net worth of seven hundred and fifty
• 14:51
  Speaker 2: thousand dollars, just solow what's next?
• 14:56
  Speaker 3: Well, this is where my problem is. I don't actually
• 14:59
  Speaker 3: know what I want to do next. So I only
• 15:01
  Speaker 3: got serious about finance about three years ago and started
• 15:04
  Speaker 3: looking going, Okay, what am I doing? Where am I
• 15:06
  Speaker 3: going with this?
• 15:06
  Speaker 2: Welcome to the dark side.
• 15:08
  Speaker 3: Yeah, And financially, I worked out that if I keep
• 15:11
  Speaker 3: going on this projection, I can retire at fifty two.
• 15:14
  Speaker 3: So that's kind of the aim is to be able
• 15:16
  Speaker 3: to retire in another ten years or eleven years. I
• 15:19
  Speaker 3: probably won't, but if I can get there, then that's great.
• 15:21
  Speaker 2: We want the option. And then if you want to
• 15:23
  Speaker 2: keep working, I mean, right now, you're seven days on,
• 15:26
  Speaker 2: seven days off, like that sounds like a pretty good
• 15:28
  Speaker 2: Like if you're still fitting healthy at fifty two, Sorry,
• 15:30
  Speaker 2: you might really want to do that.
• 15:31
  Speaker 3: That's right, and a lot of people do. We've got
• 15:33
  Speaker 3: guys who work with me who are seventy four seventy
• 15:35
  Speaker 3: five because I just don't want to give it up.
• 15:36
  Speaker 3: They love it.
• 15:37
  Speaker 2: Yeah, I feel like that's fair, that's exciting. And so
• 15:39
  Speaker 2: you're just not sure what the next financial goal is
• 15:44
  Speaker 2: or are you just not sure of where to start
• 15:46
  Speaker 2: investing to like make that fifty two retirement age more
• 15:49
  Speaker 2: of a reality. Like is that a good summary? I
• 15:52
  Speaker 2: don't know.
• 15:52
  Speaker 3: I don't actually know what to do, is my problem.
• 15:56
  Speaker 3: So I do invest. So I've got about probably forty
• 15:59
  Speaker 3: grand in investment. It's about ten grand in crypto, and
• 16:02
  Speaker 3: I'm already since I bought the house in November last year,
• 16:04
  Speaker 3: I've already saved another seventy k in cash.
• 16:08
  Speaker 2: Stop it. And you only work basically six months of
• 16:11
  Speaker 2: the year. Oh my goodness, this woman told me, I'm
• 16:15
  Speaker 2: really nervous come on the show, what like, because you'll
• 16:18
  Speaker 2: run rings around all of us. Is that why? Oh
• 16:21
  Speaker 2: my goodness, I'm so excited for you. That sounds really
• 16:23
  Speaker 2: really cool.
• 16:24
  Speaker 3: So yeah, if you can tell me what to do next,
• 16:26
  Speaker 3: so that would be great, you know, even better if
• 16:27
  Speaker 3: you can find me the really rich husband or something like.
• 16:30
  Speaker 2: That, that we're okay to that. Okay, I like, she's
• 16:32
  Speaker 2: on the money is now she's on the honey and
• 16:34
  Speaker 2: we go in dating.
• 16:36
  Speaker 3: I like it.
• 16:36
  Speaker 2: I like it. Let's got a really quick break because
• 16:38
  Speaker 2: I have a lot of questions and I want to
• 16:40
  Speaker 2: dive a little bit further into not only your dating life,
• 16:43
  Speaker 2: but also your investments. So guys, don't go anywhere money
• 16:49
  Speaker 2: daris do. We are back and look, I haven't thought
• 16:53
  Speaker 2: of any potential dates just yet, but like leave that
• 16:56
  Speaker 2: to me. In fact, this whole money dary could be
• 16:58
  Speaker 2: a really great dating segment because we're pitching you so well.
• 17:01
  Speaker 2: Like sorry, I if I was forty forty one and
• 17:05
  Speaker 2: I was looking for a partner and I was male,
• 17:07
  Speaker 2: you tell me sorry. She's got a network of seven
• 17:09
  Speaker 2: hundred and fifty k. She seems really grounded, loves to
• 17:12
  Speaker 2: go hiking, climb mountains. She's got an investment. Probably she
• 17:16
  Speaker 2: bought that in cash. Like sorry, your dream sold. But
• 17:21
  Speaker 2: tell me a little bit more about these investments. You
• 17:23
  Speaker 2: touched on them before, you said, in the last like
• 17:26
  Speaker 2: five years, you've gotten serious about your financial life. You've
• 17:29
  Speaker 2: got forty thousand dollars invested invested in what So I have.
• 17:35
  Speaker 3: Forty thousand in ETFs and then yeah, I do have
• 17:38
  Speaker 3: about ten thousand I guess in crypto, and yeah, I've
• 17:42
  Speaker 3: saved the seventy k cash. So yeah, it's what to
• 17:46
  Speaker 3: do with it at the moment, it's whether to put
• 17:47
  Speaker 3: that seventy k into another property. That The issue I'm
• 17:50
  Speaker 3: hitting at the moment is that I done my tax
• 17:53
  Speaker 3: the other day and I got sixty K that i'd
• 17:57
  Speaker 3: paid in text last year. So now it's about tax
• 17:59
  Speaker 3: minimization and learning about that because I never thought I
• 18:01
  Speaker 3: would have to worry about that.
• 18:03
  Speaker 2: Yeah, tell me about your superannuation because that's a very
• 18:06
  Speaker 2: tax effective vehicle. Are you prioritizing that?
• 18:09
  Speaker 3: So superannuation? Since I've done my tax return so only
• 18:12
  Speaker 3: a few weeks ago, I have looked at that and
• 18:14
  Speaker 3: I have always said I don't believe in super because
• 18:17
  Speaker 3: when my partner did die, I was his benificiary on
• 18:20
  Speaker 3: his super and you.
• 18:21
  Speaker 2: Didn't get it, yeah, and I didn't get it. No,
• 18:23
  Speaker 2: because you can't nominate your partner because they're not financially
• 18:25
  Speaker 2: dependent on you. Just for those of you playing along
• 18:27
  Speaker 2: at home and it can ultimately go to you, but
• 18:30
  Speaker 2: it would have been rejected at a base level, and
• 18:32
  Speaker 2: then his family sounds like they're probably not the greatest.
• 18:35
  Speaker 2: They would have been like, we don't care about money,
• 18:36
  Speaker 2: dist we want his cash, and it would have just
• 18:38
  Speaker 2: gone straight to them instead.
• 18:40
  Speaker 3: Yeah, And this is my issue with Super is that
• 18:43
  Speaker 3: if I do pass away, I have no dependence, so
• 18:45
  Speaker 3: then it is taxed extremely highly to whoever I am
• 18:49
  Speaker 3: going to give it to. So that's my downfall I
• 18:51
  Speaker 3: have just since I started doing my tax last year,
• 18:54
  Speaker 3: started paying into my Super. So I now paid five
• 18:56
  Speaker 3: hundred and fifty dollars a week into Super every week
• 18:59
  Speaker 3: just to bring my tax bloing come down a little bit.
• 19:01
  Speaker 3: But my Super currently sits just over two hundred k.
• 19:03
  Speaker 2: Okay, Queen. I was like, oh, if you're not prioritizing it,
• 19:07
  Speaker 2: like maybe not too much, but two hundred k is
• 19:09
  Speaker 2: looking good. The one thing I would say here, and
• 19:12
  Speaker 2: this is not advice, it's just things you could talk
• 19:14
  Speaker 2: to your accountant about hypothetically, like if hypothetically you wanted
• 19:17
  Speaker 2: to have that conversation, because I'd never give advice. Is
• 19:20
  Speaker 2: talking to your accountant about establishing a trust if there's
• 19:24
  Speaker 2: some individual that you want to benefit from your superannuation
• 19:27
  Speaker 2: and then nominating your super beneficiary to be that trust
• 19:33
  Speaker 2: because then they can benefit hypothetically from a distribution as
• 19:36
  Speaker 2: opposed to an inheritance that's not from a family member,
• 19:40
  Speaker 2: which is something you could potentially talk to someone about
• 19:43
  Speaker 2: that's really good.
• 19:44
  Speaker 3: But I don't have that person. Hence why you need
• 19:46
  Speaker 3: to find me the man.
• 19:47
  Speaker 2: I'm working on it. I'm working on it. But even
• 19:49
  Speaker 2: if it goes into a trust, like I used to
• 19:52
  Speaker 2: have a lot of clients in this situation where maybe
• 19:54
  Speaker 2: you know, they had had a partner who'd passed away
• 19:56
  Speaker 2: and it was just kind of them and maybe they
• 19:58
  Speaker 2: didn't want to couple up again, you can actually still
• 20:01
  Speaker 2: have so much control and power over that because you
• 20:03
  Speaker 2: could put it towards a cause that's really important to you,
• 20:06
  Speaker 2: or put it towards something. But even in that structure,
• 20:09
  Speaker 2: it's most tax beneficial, like for that charity or whatever
• 20:12
  Speaker 2: it is, or who knows what you want to do
• 20:14
  Speaker 2: with it. You could literally donate it all to the
• 20:15
  Speaker 2: Lost Dogs Home, Like that's fine by me. But like
• 20:19
  Speaker 2: just having choice and feeling like your money isn't quote wasted,
• 20:22
  Speaker 2: I think is really important because you've worked hard for this,
• 20:25
  Speaker 2: like as much as you have said, No, I don't
• 20:28
  Speaker 2: feel like I sacrificed a lot, Like sorry to save
• 20:30
  Speaker 2: seventy grand this year. You did have to sacrifice a
• 20:33
  Speaker 2: fair bit, babe, Like there's things that you're definitely skipping
• 20:36
  Speaker 2: out on to make sure that that savings account is
• 20:38
  Speaker 2: still looking very healthy, which is not a bad thing.
• 20:41
  Speaker 2: We just need the right structure to help us. Tell
• 20:44
  Speaker 2: me about debt, I just feel like you don't have
• 20:46
  Speaker 2: any at all. It's just your offset, which is like
• 20:49
  Speaker 2: one hundred percent of the property purchases in there.
• 20:52
  Speaker 3: Yeah it is. It's actually over one hundred percent. So
• 20:54
  Speaker 3: no debt whatsoever.
• 20:55
  Speaker 2: Oh my god. All right, so no debt and you
• 20:58
  Speaker 2: just feel like that's probably not it because you said, IRV,
• 21:01
  Speaker 2: I'm pretty risk averse.
• 21:03
  Speaker 3: That's true. However, my accountant is advising me at the moment,
• 21:06
  Speaker 3: for tax reasons to buy a second investment property, because
• 21:09
  Speaker 3: when she told me to buy an investment property, she
• 21:10
  Speaker 3: meant actually take out interest against that property to be
• 21:13
  Speaker 3: able to climb it against my.
• 21:14
  Speaker 2: Tax Yeah, like I mean you did it, but like
• 21:17
  Speaker 2: she probably didn't give clear enough instructions. Yeah, I want
• 21:20
  Speaker 2: to play a game of pick on you just a
• 21:22
  Speaker 2: little bit. And I mean it in the nicest way,
• 21:24
  Speaker 2: but as literally the she and she's on the money
• 21:27
  Speaker 2: you told me before, Victoria, I really like risk averse? Go,
• 21:31
  Speaker 2: why do you enn crypto? Where did that come from? Like?
• 21:33
  Speaker 2: How does somebody who's so risk averse, doesn't want to
• 21:36
  Speaker 2: carry any debt, is really worried, hasn't really like gotten
• 21:39
  Speaker 2: into the share market then has like literally, what's that
• 21:42
  Speaker 2: twenty percent of your investing portfolio outside of superannuation, like
• 21:46
  Speaker 2: between crypto and your ETFs is crypto?
• 21:49
  Speaker 3: Like, yeah, how do we do that? We listen to
• 21:53
  Speaker 3: the people at work sometimes and you know, they always
• 21:56
  Speaker 3: promise you all the world. I know a lot of
• 21:58
  Speaker 3: boys out here who are really really to it, and
• 22:00
  Speaker 3: of course ten k's about my limit, but a lot
• 22:03
  Speaker 3: of them are a lot further in than that.
• 22:05
  Speaker 2: Of course they are, and like, talk to me, how's
• 22:07
  Speaker 2: your crypto performing?
• 22:09
  Speaker 3: It's basically sitting even slightly up pretty much sitting even.
• 22:12
  Speaker 3: So I'm happy with that.
• 22:13
  Speaker 2: Yeah, we're not mad about that. I'm just surprised that,
• 22:15
  Speaker 2: as somebody who's so risk averse, youate, Yeah, it was
• 22:18
  Speaker 2: a crypto. I was like, what like that, just like
• 22:22
  Speaker 2: not in a judgmental way, just more in a like
• 22:25
  Speaker 2: if you know your risk tolerance, and probably over the
• 22:28
  Speaker 2: last few five years you've learned a bit more about
• 22:30
  Speaker 2: like what that looks like. You're probably like, that's rogue,
• 22:32
  Speaker 2: but that's okay, we can be rogue, Like we can
• 22:35
  Speaker 2: be rogue. I just want to know about it.
• 22:37
  Speaker 3: You know, well, I have more in shares. It's just
• 22:39
  Speaker 3: it was at the time, you know, people were like,
• 22:41
  Speaker 3: is it gonna go ahead? Isn't it?
• 22:42
  Speaker 2: No?
• 22:42
  Speaker 3: It was you know, do you get in now and
• 22:44
  Speaker 3: hope for the best or do you wait ten years
• 22:46
  Speaker 3: and go I should have So it was a yeah,
• 22:48
  Speaker 3: bit of a let's hope it goes ahead.
• 22:50
  Speaker 2: Yeah, no, totally get it. So talk to me about
• 22:54
  Speaker 2: best and worst money habits, because like, you don't get
• 22:57
  Speaker 2: into this position without good money habits. And I know
• 22:59
  Speaker 2: you said, look, b I never chased money, but like,
• 23:02
  Speaker 2: clearly you're attracting it. How so my.
• 23:06
  Speaker 3: Best money I have it is clearly my savings. And
• 23:09
  Speaker 3: that is just because I don't need a lot to live.
• 23:12
  Speaker 3: I really don't like my food build generally is about
• 23:14
  Speaker 3: one hundred and fifty dollars a fortnight.
• 23:16
  Speaker 2: A fortnight? Yeah, yeah, what are you a budget?
• 23:19
  Speaker 3: Quit? What are you eating?
• 23:20
  Speaker 2: Just rice?
• 23:22
  Speaker 3: I fairly ever rice. Actually I have a lot of
• 23:24
  Speaker 3: salads and stuff because we drive so far to the supermarket.
• 23:26
  Speaker 3: I just do one big shop and that does me
• 23:28
  Speaker 3: for the two weeks, the week on and the week off.
• 23:30
  Speaker 3: But I don't budget. Everybody finds it amazing that I
• 23:32
  Speaker 3: don't budget. But for the last couple of days, I've
• 23:35
  Speaker 3: been away with friends, so you know, I probably spend
• 23:37
  Speaker 3: two thousand dollars. I don't look at that and go
• 23:38
  Speaker 3: that's bad because I know I won't do it again
• 23:40
  Speaker 3: for another six months.
• 23:41
  Speaker 2: Yeah, And that's like part of the journey, right, Like,
• 23:44
  Speaker 2: and the journey you need to kind of zoom out
• 23:45
  Speaker 2: and be like, well, actually, that's what I'm living for,
• 23:47
  Speaker 2: like so that I can have a really good time
• 23:49
  Speaker 2: with friends and I can't, you know, splurge here and
• 23:51
  Speaker 2: there and not worry about the pub meals that we have,
• 23:54
  Speaker 2: but more day to day those expenses are low. Why
• 23:57
  Speaker 2: do you think you've never budgeted? Is it just because
• 24:00
  Speaker 2: inherently I would say that you're pretty good at money,
• 24:02
  Speaker 2: and you're like, well, I actually don't need a budget
• 24:03
  Speaker 2: because I'm pretty good at, you know, keeping costs low
• 24:06
  Speaker 2: in general. Or is this just something you'd be like,
• 24:08
  Speaker 2: ov I avoid it? Like what does that look like?
• 24:11
  Speaker 3: I think? See? Growing up, my mum was very tight
• 24:15
  Speaker 3: with money, to the point where even if we got
• 24:17
  Speaker 3: school pants, she would write it down or we would
• 24:19
  Speaker 3: have to pay it back for the school pants and
• 24:20
  Speaker 3: stuff like that.
• 24:21
  Speaker 2: Okay mum, Yeah exactly.
• 24:23
  Speaker 3: She's still like that.
• 24:24
  Speaker 2: Okay, perfect. And you say you moved away. That's so strange.
• 24:29
  Speaker 3: Yeah, I know, very strange. And I've just always been,
• 24:33
  Speaker 3: you know, like, if you want something, you should have
• 24:35
  Speaker 3: it in the same way as I don't want to
• 24:37
  Speaker 3: be like her, and that sounds horrible, but she is
• 24:39
  Speaker 3: a hoarder and I go to the house and there's
• 24:40
  Speaker 3: stuff everywhere, So I'm not a stuff person. And because
• 24:44
  Speaker 3: I did live in my van for a long time
• 24:46
  Speaker 3: when I traveled Australia, I always had this thing, if
• 24:49
  Speaker 3: you buy something, you've got to get rid of something
• 24:50
  Speaker 3: because you don't have the space. So even now when
• 24:53
  Speaker 3: I buy stuff for the house, it's kind of a
• 24:55
  Speaker 3: but do you need it? Probably not, because then it's
• 24:58
  Speaker 3: hard to get rid of it. If anybody who's moved house.
• 25:00
  Speaker 3: You know, when you go to move and you're like,
• 25:02
  Speaker 3: now I've got to get rid of it. And I
• 25:03
  Speaker 3: loved it when I wanted it.
• 25:05
  Speaker 2: Don't so talk to me more about I guess worse
• 25:08
  Speaker 2: money habits. Do you even have bad money habits?
• 25:12
  Speaker 1: Yeah?
• 25:12
  Speaker 3: So my worst money habit is definitely my low rist
• 25:16
  Speaker 3: tolerance for debt. So in Covid, I grew up with
• 25:20
  Speaker 3: my great uncle around. He went through the depression, so
• 25:23
  Speaker 3: their money got taken from them in the depression. So
• 25:26
  Speaker 3: it was always you know, for him, his pension. Every
• 25:28
  Speaker 3: week we would go down and draw it out of
• 25:29
  Speaker 3: the bank. So he built into me, if anything goes bad,
• 25:32
  Speaker 3: take your money out of the bank. Do not trust
• 25:34
  Speaker 3: the bank.
• 25:35
  Speaker 2: So you've inherited his money. Trauma.
• 25:37
  Speaker 3: Yeah, so come Covid. I withdrew a couple of hundred
• 25:40
  Speaker 3: grand and buried it in the backyard for a couple
• 25:42
  Speaker 3: of years.
• 25:42
  Speaker 2: I actually love you. You're so funny. This is so good.
• 25:46
  Speaker 2: So you just had like a couple of one hundred grand. Sorry,
• 25:49
  Speaker 2: you took it out in cash and then you literally
• 25:51
  Speaker 2: buried it in your garden. You are killing me. I
• 25:55
  Speaker 2: just want to be friends with you. In real life
• 25:57
  Speaker 2: because you like, I'm sorry, just the way you articulate yourself,
• 26:00
  Speaker 2: you are so smart. I can tell you're just so smart.
• 26:03
  Speaker 2: And then it's like, yeah, buried all my money in
• 26:04
  Speaker 2: the garden. What are you doing? You're only forty one?
• 26:08
  Speaker 2: Like what are you eighty six? I love this?
• 26:12
  Speaker 3: But did you know what did that make you feel secure?
• 26:14
  Speaker 3: It actually made me feel more secure there you go.
• 26:17
  Speaker 3: I know, I thought I would feel worse about it,
• 26:19
  Speaker 3: but I actually felt more secure. And I went to
• 26:21
  Speaker 3: that because I like detecting for gold and stuff on
• 26:24
  Speaker 3: my days off. Not that I ever find anything, It's
• 26:25
  Speaker 3: more about the history for me.
• 26:26
  Speaker 2: And also like getting outside perf.
• 26:29
  Speaker 3: Yeah, so I went out and bought plastic containers so
• 26:32
  Speaker 3: that metal detectors wouldn't pick it up.
• 26:34
  Speaker 2: I'm done, I am obsessed with you. So tell me sorry,
• 26:37
  Speaker 2: did you like buy chance? Just video you digging this
• 26:40
  Speaker 2: up at some point, like and also if you bought
• 26:43
  Speaker 2: plastic condates, so just confirming this is no longer in
• 26:46
  Speaker 2: your garden.
• 26:46
  Speaker 3: This is no longer in my garden. It's now in
• 26:48
  Speaker 3: my house. Okay.
• 26:49
  Speaker 2: So you bought a house with it, okay, house, So
• 26:51
  Speaker 2: you put it in plastic containers. How deep are we
• 26:54
  Speaker 2: burying this?
• 26:55
  Speaker 3: Like?
• 26:55
  Speaker 2: How do we Is it shallow? Is it like marked
• 26:58
  Speaker 2: with a cross? Like did you buy a chair?
• 27:00
  Speaker 3: I don't know. Well, you can't do right. I did
• 27:02
  Speaker 3: actually put a mark on where roughly I buried it,
• 27:05
  Speaker 3: and then when I went to dig it up, I
• 27:06
  Speaker 3: couldn't find it straight away.
• 27:08
  Speaker 2: I would have died.
• 27:12
  Speaker 3: So the whole got bigger and beg. It wasn't very
• 27:14
  Speaker 3: deep though. It was kind of my thought pattern was
• 27:16
  Speaker 3: it needs to be deep enough so that if everything
• 27:18
  Speaker 3: burns down around it, it's not gonna melt.
• 27:20
  Speaker 2: Okay, yep, she's logical. I love this.
• 27:23
  Speaker 3: Yep. No. And when you take money out of the bank,
• 27:26
  Speaker 3: you have to give them an excuse these days. So
• 27:28
  Speaker 3: when I said to them, I'm taking it out because
• 27:30
  Speaker 3: I don't trust the banks. I've been told not to
• 27:32
  Speaker 3: trust the bank, They're like, yeah, we've had so many
• 27:34
  Speaker 3: people come in and do exactly the same thing.
• 27:36
  Speaker 2: Well you didn't even lie to them. Yeah, I would
• 27:38
  Speaker 2: have lied to them. I would have been like, no,
• 27:42
  Speaker 2: it's true, exotic car. I just I laughed so hard.
• 27:47
  Speaker 2: So one day you go and you dig it up,
• 27:50
  Speaker 2: and what you took the containers just directly into the
• 27:53
  Speaker 2: bank and slammed it on the bench. So put this
• 27:55
  Speaker 2: back in the bank.
• 27:55
  Speaker 3: I need it, basically. Yeah. So I had photocopied the
• 27:57
  Speaker 3: receipts and when I'd taken it out of the bank,
• 27:59
  Speaker 3: because I knew that they'd want proof of me putting
• 28:01
  Speaker 3: so much back in, so I made sure that I
• 28:03
  Speaker 3: had all that documentation so I could go in and
• 28:04
  Speaker 3: be like, hey, here's the money.
• 28:05
  Speaker 2: Well, you're not money laundering, are you. Yeah? I wasn't
• 28:08
  Speaker 2: laundering this. It's actually really dirty. It's been in my garden.
• 28:12
  Speaker 3: It was very clean. I had it very well protected.
• 28:14
  Speaker 3: It was very well wrapped and everything.
• 28:15
  Speaker 2: No, I'm not surprised you bloody glad wrapped that, didn't you.
• 28:19
  Speaker 2: Like you went around, you put it in plastic containers,
• 28:21
  Speaker 2: you solidified it, then you put it in other containers
• 28:23
  Speaker 2: like I just know. Like and you said before, you
• 28:26
  Speaker 2: have no dependence. So if something had happened to you,
• 28:28
  Speaker 2: this money would have just been buried in the garden.
• 28:30
  Speaker 2: No one would have known about it. And then like
• 28:32
  Speaker 2: years from now, when this house of yours that you
• 28:35
  Speaker 2: currently live in gets knocked down, someone would have been like,
• 28:37
  Speaker 2: what is that and found one hundred grand.
• 28:39
  Speaker 3: Yeah, but what a cool story for them when they
• 28:41
  Speaker 3: found it.
• 28:41
  Speaker 2: Yeah, because it would have made no sense. What was
• 28:44
  Speaker 2: she doing selling drugs? Like that's giving drug money, my love.
• 28:48
  Speaker 3: I am in a mining town. That's very possible.
• 28:50
  Speaker 2: Exactly. I would have been like, now I'm scared that
• 28:53
  Speaker 2: I've found this money is the cartel after me? But no,
• 28:57
  Speaker 2: reality is money that I has just buried it because
• 28:59
  Speaker 2: she felt like that was a good place. Do you
• 29:01
  Speaker 2: know what, I love talking to people about money because
• 29:03
  Speaker 2: before you were like, oh, like you know, I can't
• 29:05
  Speaker 2: really talk to my friends and family about this. They
• 29:07
  Speaker 2: would find that hilarious. These are the stories that I
• 29:11
  Speaker 2: want to hear at brunch. So that's maybe not your
• 29:14
  Speaker 2: best money goal or sorry, your best money habit. You said, like,
• 29:18
  Speaker 2: obviously it's low risk tolerance. Do you think that you
• 29:21
  Speaker 2: date money out and buried again? Like or are you
• 29:24
  Speaker 2: changed woman? Or like what does that look like nowadays?
• 29:26
  Speaker 2: Because you said this was prior to you, like getting
• 29:29
  Speaker 2: on your financial journey, I suppose.
• 29:31
  Speaker 3: It was probably at the start of it. Yes, so
• 29:34
  Speaker 3: now I am learning or leaning more towards, you know,
• 29:38
  Speaker 3: trying to make every dollar work for me rather than
• 29:40
  Speaker 3: just having that and obviously now understanding that inflation is
• 29:43
  Speaker 3: making that money go backwards instead of forwards. So I
• 29:46
  Speaker 3: am at the stage now where do I get another
• 29:48
  Speaker 3: investment property? Do I put it into shares? And really
• 29:51
  Speaker 3: I need to look at the tax deductions more than
• 29:54
  Speaker 3: anything at the moment. So yeah, that's kind of where
• 29:56
  Speaker 3: I'm going.
• 29:57
  Speaker 2: Talk to me about advice because like, at the end
• 29:59
  Speaker 2: of the day, really wealthy, like as an individual, like
• 30:02
  Speaker 2: you are killing it. You have such a good like
• 30:05
  Speaker 2: trajectory to even become even wealthier. And on a regular trajectory,
• 30:11
  Speaker 2: your income or not your income, sorry, your assets, if
• 30:14
  Speaker 2: they're well invested, should double every ten issues and so
• 30:18
  Speaker 2: like you're gonna be worth millions, and like this is
• 30:20
  Speaker 2: very cool to think about because you said, oh, I'd
• 30:22
  Speaker 2: love to like retire by fifty two, and that's what
• 30:25
  Speaker 2: eleven years from now, like go, we are on the
• 30:28
  Speaker 2: right track. That is very exciting. But have you ever
• 30:31
  Speaker 2: thought about not just talking to your accountant, but talking
• 30:33
  Speaker 2: to a good financial advisor about like okay, like they
• 30:36
  Speaker 2: tell me what to do and like, unfortunately I can't
• 30:38
  Speaker 2: do that, but like an adviser could.
• 30:40
  Speaker 3: I think about it all the time, and I research
• 30:42
  Speaker 3: it all the time and I actually listen to a
• 30:44
  Speaker 3: different podcast the other day who was you know, because
• 30:47
  Speaker 3: it's so hard to find somebody who wants to give
• 30:49
  Speaker 3: you one off advice, and that's what I want is
• 30:51
  Speaker 3: just somebody to go this would be your best option.
• 30:53
  Speaker 3: I've got someone for you, Everest Wealth in Perth, the
• 30:56
  Speaker 3: go Perfect And you know what, if it was Money
• 30:58
  Speaker 3: Money Money, which is owned by Glenn James, he would
• 31:01
  Speaker 3: probably say the same company. Okay, if that's what you
• 31:05
  Speaker 3: are hypothetically listening to, because we both really love the
• 31:08
  Speaker 3: boys who own that, and they're one of the only
• 31:10
  Speaker 3: practices that give you one off advice. You can go
• 31:12
  Speaker 3: back to them, but like they don't try and I
• 31:14
  Speaker 3: don't know, I feel like a sales person want to
• 31:15
  Speaker 3: talk about this, but like they're not going to lock
• 31:17
  Speaker 3: you in for monthly installments or like monthly fees.
• 31:20
  Speaker 2: They'll just be like, here's your plan. You're completely competent,
• 31:22
  Speaker 2: go do it yourself.
• 31:23
  Speaker 3: Yeah, because I did go to a financial planner probably
• 31:26
  Speaker 3: about ten years ago now when I first got into mining,
• 31:28
  Speaker 3: and they just didn't do it for me. It was
• 31:30
  Speaker 3: very one sided. They were just trying to sell their products,
• 31:32
  Speaker 3: so that kind of put me off a little bit.
• 31:34
  Speaker 2: Yeah, well, if you are interested in listening to more podcasts,
• 31:37
  Speaker 2: it's just like an unsolicited recommendation. On my side, I
• 31:40
  Speaker 2: did a Q and A with a financial advisor recently
• 31:42
  Speaker 2: called Daisy, and Daisy actually works at Everest and she
• 31:45
  Speaker 2: is delightful, like a lot of my clients have gone
• 31:48
  Speaker 2: to her now I'm not an advisor, and they rave
• 31:51
  Speaker 2: about her. So if you want to maybe dip your
• 31:53
  Speaker 2: toes in the water again, I think that that's a
• 31:55
  Speaker 2: good recommendation. And I'll obviously like shoot you an email
• 31:58
  Speaker 2: after this with her details. It all in your court,
• 32:00
  Speaker 2: but I think that that could actually put you on
• 32:02
  Speaker 2: the best possible trajectory, because.
• 32:05
  Speaker 3: That sounds awesome.
• 32:06
  Speaker 2: When you are a little bit more risk tolerant, you
• 32:08
  Speaker 2: want an advisor and this is not just about Everest,
• 32:11
  Speaker 2: this is just like in general, you want an advisor
• 32:13
  Speaker 2: who not only like helps direct you and says okay,
• 32:16
  Speaker 2: money dires like, yeah, how about shes that like gives
• 32:18
  Speaker 2: you all the pros and cons and the benefits and
• 32:21
  Speaker 2: like does a comparison of Okay, well if we put
• 32:23
  Speaker 2: it into this property, this is what this would look like.
• 32:25
  Speaker 2: And they can like project out the tax advantages, they
• 32:29
  Speaker 2: can talk to you about suberinuation and like making sure
• 32:32
  Speaker 2: that you're more comfortable with that because at your age,
• 32:35
  Speaker 2: with the income that you have, I wouldn't be surprised
• 32:37
  Speaker 2: if one of the things that they recommend is every
• 32:39
  Speaker 2: single year maxing out your super contributions, because like, at
• 32:43
  Speaker 2: the end of the day, you got the cash. Like
• 32:45
  Speaker 2: it's not like, oh should I shouldn't? I like my
• 32:47
  Speaker 2: lifestyle is going to be compromised, Like you're already telling
• 32:50
  Speaker 2: me you have massive tax bills, And that's a way
• 32:52
  Speaker 2: to not only get a little bit of tax back
• 32:54
  Speaker 2: money w but a way to avoid a fair bit
• 32:57
  Speaker 2: of tax because the tax environment inside subunuation is fifteen
• 33:00
  Speaker 2: percent and like with your income go you're on the
• 33:03
  Speaker 2: highest marginal tax bracket, which is very sexy but doesn't
• 33:06
  Speaker 2: feel like it when you're having to pay that much tax.
• 33:10
  Speaker 3: That's right, And I never thought I would be in
• 33:12
  Speaker 3: this position, And even up until this year, I'd never
• 33:14
  Speaker 3: reached that top tax bracket until I got the house, really,
• 33:17
  Speaker 3: so it's never been a consideration until this year. And
• 33:20
  Speaker 3: even when the tax account said to me, hey, you've
• 33:22
  Speaker 3: made two hundred and three thousand dollars this year. I
• 33:24
  Speaker 3: was like, excuse me, I'd dropped out of school at fifteen?
• 33:26
  Speaker 3: Can you repeat that? She's like repeat what? I'm like,
• 33:29
  Speaker 3: how much did I make?
• 33:30
  Speaker 2: But isn't that kind of cool? Like I just want
• 33:32
  Speaker 2: to go back? And I feel like the period of
• 33:34
  Speaker 2: time that we spoke about before, like you're twenty one,
• 33:37
  Speaker 2: your partner died, I feel like that would have been
• 33:40
  Speaker 2: chaos and you would have been like, well, what's my
• 33:42
  Speaker 2: life going to look like if I'm not going to
• 33:44
  Speaker 2: live it with him? And I'm like, we're not on
• 33:45
  Speaker 2: this trajectory and I'm going to be really stereotypical for
• 33:49
  Speaker 2: a hot second. And I'm assuming that if you got together,
• 33:51
  Speaker 2: you'll be together for seven years. The next trajectory was
• 33:54
  Speaker 2: probably like marriage and then maybe children and like working
• 33:57
  Speaker 2: in the small town and so like just living that life.
• 34:00
  Speaker 2: This is not what maybe you had envisioned. Sh'd be stoked.
• 34:05
  Speaker 3: Yeah, And it was actually his twentieth anniversary yesterday for
• 34:09
  Speaker 3: his passing, which is why.
• 34:09
  Speaker 2: I climbed the mountain yesterday. Yeah, oh my goodness.
• 34:14
  Speaker 3: And the twenty years wasn't about, you know, grieving that.
• 34:17
  Speaker 3: It was twenty years ago. It was about how far
• 34:19
  Speaker 3: I've come in twenty years and what I've overcome in
• 34:21
  Speaker 3: twenty years, because there's been bad times and good times
• 34:24
  Speaker 3: in between, and you get to that stage where you're like,
• 34:26
  Speaker 3: okay this year, because some years it still really rocks me,
• 34:29
  Speaker 3: and then other years it doesn't affect me at all.
• 34:31
  Speaker 3: So it's about how far you've come in that twenty years.
• 34:34
  Speaker 2: Yeah. I was speaking to a team member today who
• 34:37
  Speaker 2: lost a very close family member in the last week,
• 34:40
  Speaker 2: and I said to her, grief is a price that
• 34:43
  Speaker 2: we pay for love, and I think that that's a
• 34:45
  Speaker 2: good price because it feels like trash, but it just
• 34:47
  Speaker 2: means that that relationship was clearly a good one. Like
• 34:50
  Speaker 2: he was clearly a good man, he was clearly a
• 34:52
  Speaker 2: good person, and like I'm telling you right now, if
• 34:55
  Speaker 2: he wasn't after twenty years, it wouldn't rock you. And
• 34:57
  Speaker 2: I think that that's just like so special that you're
• 34:59
  Speaker 2: still saying, you know, it still rocks me sometimes, And
• 35:02
  Speaker 2: I don't want that to be good.
• 35:04
  Speaker 3: I don't.
• 35:04
  Speaker 2: I really wish you didn't have to go through that,
• 35:06
  Speaker 2: But like, do you know what if I pass away,
• 35:09
  Speaker 2: I hope that in twenty years people are still talking
• 35:12
  Speaker 2: about losing me is a genuine loss? Like that's a
• 35:15
  Speaker 2: good position to be in, right, Like he'd be pretty stoked.
• 35:18
  Speaker 2: He's like still on her mind. It's been twenty years.
• 35:21
  Speaker 2: I'm still there, Like that's where I want to be.
• 35:23
  Speaker 2: I don't know about you, money diarist, talk to me
• 35:26
  Speaker 2: a little bit more about this grade that you gave
• 35:29
  Speaker 2: yourself because I'm so sorry. B.
• 35:32
  Speaker 3: Yeah, definitely B.
• 35:34
  Speaker 2: B okay, B for real? Why A B? How do
• 35:38
  Speaker 2: we get you from a B to an A? Is
• 35:40
  Speaker 2: that just about kind of like pulling your finger out
• 35:42
  Speaker 2: a bit, like maybe getting some financial advice and getting
• 35:44
  Speaker 2: those like goals organized or is it you just don't
• 35:48
  Speaker 2: feel confident with money? Like, tell me a bit more.
• 35:50
  Speaker 3: So to get to an A, it would be financial advice.
• 35:52
  Speaker 3: It'd be to know what direction I'm going in because
• 35:54
  Speaker 3: at the moment, I just kind of go, okay, I
• 35:57
  Speaker 3: listened to a lot of stuff, but I never know,
• 35:58
  Speaker 3: you know, is shares the way to always property in
• 36:00
  Speaker 3: the way to go and I always question it. So
• 36:02
  Speaker 3: to have the you know, I guess more clarity on
• 36:06
  Speaker 3: which way is the right way or what to go
• 36:08
  Speaker 3: or what to do next?
• 36:09
  Speaker 2: Yeah, And to be a little bit pervy, and I
• 36:11
  Speaker 2: feel like lots of people. I have lots of friends
• 36:13
  Speaker 2: who are in their like late thirties, early forties who
• 36:15
  Speaker 2: are still single. No, they haven't gone through situations like yours,
• 36:19
  Speaker 2: but like they just still haven't found their life partner.
• 36:21
  Speaker 2: And I find that a lot of them are putting
• 36:24
  Speaker 2: big decisions off or like not really wanting to solidify
• 36:27
  Speaker 2: goals because they're still kind of like really hopeful that
• 36:29
  Speaker 2: they'll find that person that they could then build those
• 36:32
  Speaker 2: goals together with. Do you feel like you're in that
• 36:35
  Speaker 2: limbo of being like, well, I really hope I meet
• 36:37
  Speaker 2: someone and then it can be us, it can be
• 36:39
  Speaker 2: our goals. Or are you kind of like no, I'm
• 36:41
  Speaker 2: a strong, independent woman and like look at my dog,
• 36:44
  Speaker 2: like I don't know what. How do you feel about
• 36:45
  Speaker 2: all of this?
• 36:46
  Speaker 3: A bit of both camps? So it would be lovely.
• 36:48
  Speaker 3: And it's been twenty years of going you know, because
• 36:51
  Speaker 3: I've had relationships within that twenty years. Don't get me wrong,
• 36:54
  Speaker 3: but it's always do I feel confident enough to put
• 36:56
  Speaker 3: somebody on my will? And for somebody who got burnt
• 36:59
  Speaker 3: by not having a will, well, I only made a
• 37:00
  Speaker 3: will when I got the house because I was like,
• 37:02
  Speaker 3: I've got nobody to leave stuff too, does it matter
• 37:04
  Speaker 3: where my stuff goes? So basically my parents are on
• 37:07
  Speaker 3: my will anyway, because I've got nobody else, and that's
• 37:09
  Speaker 3: who it would have went to if I didn't have
• 37:10
  Speaker 3: a will. Yeah, so I would love somebody there just
• 37:12
  Speaker 3: so I could be like, yes, I can make a
• 37:14
  Speaker 3: plan now because I know who's going to get everything
• 37:16
  Speaker 3: I've worked for. But when it's just you, you kind
• 37:20
  Speaker 3: of go, well, I've got enough to live once I die,
• 37:22
  Speaker 3: it doesn't really matter.
• 37:22
  Speaker 2: Yeah, look, it's very true, and I find it like,
• 37:26
  Speaker 2: obviously I don't when you're waiting around for like some
• 37:29
  Speaker 2: night in shining Armor to come and like sweep you
• 37:31
  Speaker 2: off your feet like slay, I would love that for you.
• 37:33
  Speaker 2: Like I'm manifesting that very hard and I hope that
• 37:36
  Speaker 2: it happens. But at the same time, this is going
• 37:38
  Speaker 2: to sound so more bad. Women actually outlive men. So
• 37:41
  Speaker 2: at some point, even though if you have shared goals,
• 37:43
  Speaker 2: the likelihood of you outliving another partner. That is, if
• 37:47
  Speaker 2: you're completely straight and you decide that a mail is
• 37:50
  Speaker 2: the right fit for you, you're more likely to have
• 37:52
  Speaker 2: to go back to being that strong, independent single woman
• 37:55
  Speaker 2: again at some point in your life. So I'm like,
• 37:57
  Speaker 2: go set it up right, let's get it all organized.
• 38:00
  Speaker 2: They can come in, but they're just a piece of
• 38:01
  Speaker 2: the puzzle. They're like, they get to do some goals
• 38:04
  Speaker 2: with us, but we're actually fine. We're actually set up
• 38:06
  Speaker 2: and we're good to go. But it can be like
• 38:09
  Speaker 2: feeling like you're in limbo because it might change the
• 38:11
  Speaker 2: trajectory of your life. It might change that, but that's
• 38:14
  Speaker 2: kind of okay. We can redo. Like I promise you
• 38:16
  Speaker 2: right now, you're not going to be mad if you
• 38:18
  Speaker 2: do all your financial planning, all your eggs are like
• 38:20
  Speaker 2: in the right basket. Then you meet someone you're like, damn,
• 38:23
  Speaker 2: I have to see a financial advisor again because we've
• 38:25
  Speaker 2: got new goals. You're not going to be mad about that.
• 38:27
  Speaker 3: But then the other issue is, and I have a
• 38:28
  Speaker 3: lot of friends in the same boat. Once you're financially stable,
• 38:32
  Speaker 3: if somebody else comes in, you do worry about that
• 38:34
  Speaker 3: person taking what you've worked for.
• 38:35
  Speaker 2: Ah, we're getting a binding financial agreement. Yeah no, screw
• 38:38
  Speaker 2: them prematter at all assets Like we are protecting ourselves,
• 38:41
  Speaker 2: and that's what a good financial advisor will do. For
• 38:44
  Speaker 2: you as well, like, sorry, you can't come in and
• 38:47
  Speaker 2: pretend to be a night and shiming armor and then
• 38:49
  Speaker 2: just be a trojan horse, Like yeah, absolutely not, you
• 38:52
  Speaker 2: get all getting my stuff. No, Like, we're going to
• 38:54
  Speaker 2: protect our assets with the right structure. So if someone
• 38:57
  Speaker 2: comes in, that's fine. I can share with you. I'd
• 39:00
  Speaker 2: love to build a life with you. But if I
• 39:01
  Speaker 2: decide that you're not here for the long term, you
• 39:04
  Speaker 2: don't get anything. You didn't come this far to only
• 39:06
  Speaker 2: come this far.
• 39:08
  Speaker 3: And in the industry I am in, you know, because
• 39:10
  Speaker 3: a lot of the boys work away from home and
• 39:11
  Speaker 3: stuff like that, it is very common for marriage breakdowns,
• 39:15
  Speaker 3: so you hear a lot of bad stories out here
• 39:17
  Speaker 3: and it does put you off. And I am very
• 39:19
  Speaker 3: much because of what I went through. What's mine is
• 39:21
  Speaker 3: mine and what's yours is yours rather than sharing, and
• 39:23
  Speaker 3: it takes a lot for me to trust people and go, okay,
• 39:26
  Speaker 3: let's do this together.
• 39:27
  Speaker 2: Yeah. I feel like you would benefit again hypothetically, from
• 39:31
  Speaker 2: having a conversation with your accountant about a trust setup.
• 39:36
  Speaker 2: And that's not a recommendation, that's just something. Go have
• 39:39
  Speaker 2: a chat with them about what the pros and cons
• 39:41
  Speaker 2: of that are, because that can actually protect your assets
• 39:44
  Speaker 2: even more than a binding financial agreement, because I think
• 39:49
  Speaker 2: we've all heard it, like binding financial agreements are great,
• 39:52
  Speaker 2: but they can actually be challenged if someone is as
• 39:55
  Speaker 2: committed to getting your money as you are to protecting it,
• 39:59
  Speaker 2: Like the likelihood of it going through the courts and like,
• 40:01
  Speaker 2: you know, maybe you're not getting what you want is
• 40:03
  Speaker 2: quite high. But a trust can actually protect a lot
• 40:06
  Speaker 2: of that, especially if it was established prior to the
• 40:08
  Speaker 2: relationship beginning.
• 40:10
  Speaker 3: Okay, that's good to know because I actually had a
• 40:12
  Speaker 3: conversation with one of the people out here the other day,
• 40:14
  Speaker 3: and he's got a couple of properties and a business
• 40:17
  Speaker 3: and everything, and he went to his accountant and she said, no,
• 40:18
  Speaker 3: there's no trust because there's no dependence.
• 40:20
  Speaker 2: Yes, but it's more about like protecting future you and
• 40:25
  Speaker 2: like hopefully future you meets that person that you're really
• 40:28
  Speaker 2: comfortable with, and then there's no like second thought in
• 40:31
  Speaker 2: your mind of like, ooh, do I need to like
• 40:33
  Speaker 2: have a chat before you know he stays over too
• 40:35
  Speaker 2: many times and becomes a de facto or do I
• 40:37
  Speaker 2: need to like no, no, no, it's already like seit
• 40:39
  Speaker 2: and forget and you don't even need to tell them
• 40:41
  Speaker 2: what you own, Like you can just be like, oh yeah,
• 40:43
  Speaker 2: like I just pay twenty bucks a week for this house. Yeah,
• 40:46
  Speaker 2: full stop at a story, live, love, laugh, and then
• 40:49
  Speaker 2: maybe when we trust them, we can tell them.
• 40:50
  Speaker 3: And that's the thing. Everybody sees as buying a house
• 40:53
  Speaker 3: outrighters this amazing flex and it's like, yes, I am
• 40:56
  Speaker 3: proud that I've done it. I mean it's pretty good
• 40:58
  Speaker 3: flex yeah, But for me, I also know that it's
• 41:01
  Speaker 3: hype of vigilance from what I went through and that
• 41:03
  Speaker 3: I stop piled money and you know, saved myself. So
• 41:06
  Speaker 3: to them, it's flexibi. I can see both sides of.
• 41:08
  Speaker 2: It, and I think that's why I'm like, there's no
• 41:10
  Speaker 2: right or wrong, Like, was that the wrong decision? Absolutely
• 41:12
  Speaker 2: not for you. I think you feel very confident. Was
• 41:15
  Speaker 2: burying your money in the garden a batter a good
• 41:17
  Speaker 2: thing doesn't actually matter? Did you feel good? I felt
• 41:19
  Speaker 2: good exactly. So I feel like it's not about what
• 41:23
  Speaker 2: is right or wrong, but more what works for your situation.
• 41:26
  Speaker 2: And that's what's so beautiful about this. I'm glad it
• 41:28
  Speaker 2: has all worked out and that you're in a good position,
• 41:30
  Speaker 2: but it's also about like what structure is going to
• 41:32
  Speaker 2: make you feel most confident, because like, I'm sorry going
• 41:35
  Speaker 2: into these and like I've got girlfriends who have been
• 41:37
  Speaker 2: divorced and they're going into new relationships and like, oh,
• 41:39
  Speaker 2: what do I do because I have a house that
• 41:42
  Speaker 2: you know, thankfully I got out of the divorce, but
• 41:44
  Speaker 2: like I don't want my new partner getting it because
• 41:46
  Speaker 2: I have kids and if something happened, Like it's all complex, right,
• 41:48
  Speaker 2: and that's where we just want to get good advice
• 41:51
  Speaker 2: so that we can sleep at night and know, Okay, well,
• 41:53
  Speaker 2: you know, if the proverbial hit the fan, I'm actually fine,
• 41:56
  Speaker 2: Like I'm actually really good and I can walk out
• 41:59
  Speaker 2: of this as wealthy as I walked into this, And
• 42:03
  Speaker 2: that's what I want for you. You didn't work again,
• 42:05
  Speaker 2: You didn't work this hard to only work this hard,
• 42:07
  Speaker 2: you know, like your plan of retiring at fifty two
• 42:10
  Speaker 2: can and will happen and ain't no man getting in
• 42:13
  Speaker 2: the way of that.
• 42:14
  Speaker 3: And something else you will be interested in. My four
• 42:16
  Speaker 3: hundred and thirty five thousand dollar house makes eight hundred
• 42:19
  Speaker 3: and fifty dollars a week rent.
• 42:20
  Speaker 2: Stop it. That rental yield is so sexy. Tell me,
• 42:24
  Speaker 2: how did you do that? Was that why you purchased
• 42:26
  Speaker 2: it or did you just go Oh, it's just like
• 42:28
  Speaker 2: kind of in the same town that I'm living in, Like,
• 42:30
  Speaker 2: where do we find Because I take my money right now,
• 42:33
  Speaker 2: you can have four hundred and thirty five thousand dollars.
• 42:34
  Speaker 2: I would actually have to get a loan for that.
• 42:36
  Speaker 2: That's okay though, because I'm not as risk tolerant as you.
• 42:39
  Speaker 2: I would happily take out the loan for that amount
• 42:41
  Speaker 2: of rent. When how so it is in.
• 42:44
  Speaker 3: A mining town. It's in Mournbach in Queensland. Obviously with
• 42:48
  Speaker 3: coal everything's up in the air at the moment. Everybody's worried,
• 42:51
  Speaker 3: so kind of like people say, you know, while people
• 42:54
  Speaker 3: are scared by them. So that's what i'd done. Because
• 42:56
  Speaker 3: I am in coal mining, I know that what you
• 42:58
  Speaker 3: hear on the news is not actually what's happening out in.
• 43:01
  Speaker 2: Not the reality. It's almost crazy, isn't it. It's almost
• 43:04
  Speaker 2: like the news just makes up things to be entertaining.
• 43:08
  Speaker 3: So I know that my job is secure. As much
• 43:11
  Speaker 3: as my mind's gonna shut, I know that I can
• 43:13
  Speaker 3: leave mine go to another one straight away. So yeah,
• 43:15
  Speaker 3: so hi, rental yields because nobody really wants to live
• 43:19
  Speaker 3: there or buy there because they all think the call's
• 43:21
  Speaker 3: going down. Mount Eyes is another one you hear about
• 43:23
  Speaker 3: all the time. At the moment, I've got friends out there,
• 43:25
  Speaker 3: They're all like, guys, it's one mind where running thirty?
• 43:28
  Speaker 3: Why are you worried if one opens or shuts?
• 43:30
  Speaker 2: So yeah, oh my god, I love this and that
• 43:32
  Speaker 2: little insight. I feel like that's a little investing hot
• 43:35
  Speaker 2: tip if you're looking for investing properties money. Jrus, this
• 43:39
  Speaker 2: has been beautiful. I have loved this. There's been so
• 43:41
  Speaker 2: many like surprises in this conversation that I just honestly
• 43:44
  Speaker 2: didn't see coming from you, being like, look, I have
• 43:47
  Speaker 2: really low risk tolerance. Hi, I have crypto to you
• 43:50
  Speaker 2: talking about your COVID journey of like literally burying your
• 43:53
  Speaker 2: cash in the garden. I'm obsessed the fact that you've
• 43:56
  Speaker 2: built yourself up to this in the last twenty years,
• 43:59
  Speaker 2: and like, I just feel like it's such a timely
• 44:02
  Speaker 2: conversation because obviously yesterday you were reflecting on the passing
• 44:05
  Speaker 2: of your partner literally twenty years prior. Girl, You've come
• 44:09
  Speaker 2: so far. I'm so excited that you're in our community.
• 44:11
  Speaker 2: I'm so excited that you've shared your journey with us, Like,
• 44:15
  Speaker 2: what a privilege.
• 44:16
  Speaker 3: Thank you, No, thank you.
• 44:24
  Speaker 2: The advice shared on She's on the Money is general
• 44:26
  Speaker 2: in nature and does not consider your individual circumstances. She's
• 44:30
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• 44:34
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