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Beyond Property: Creating a Financial Plan That Works for You · TFS WealthCast

• 0:00
  SPEAKER_00: Dream big.
• 0:01
  SPEAKER_00: Plan smart.
• 0:02
  SPEAKER_00: Build well.
• 0:04
  SPEAKER_00: This is the TFS Podcast where money comes gets real and financial freedom is more than just a goal.
• 0:12
  SPEAKER_00: Without further ado, let's dive in.
• 0:16
  SPEAKER_02: Alright, folks, today I've got Joshua Lane from TFS Financial Planning Division.
• 0:22
  SPEAKER_02: We're going to talk about the importance of financial planning for um everyday people in Australia, especially after the budget, the things have changed as we have discussed in other episodes.
• 0:49
  SPEAKER_02: Joshua, welcome to the show.
• 0:51
  SPEAKER_05: Thank you very much, Pramu.
• 0:52
  SPEAKER_05: How are you doing today?
• 0:54
  SPEAKER_02: My as you know, um today I decided to have a bit of water.
• 0:59
  SPEAKER_05: Nice, nice, nice last health kick, health kick.
• 1:02
  SPEAKER_05: I see.
• 1:02
  SPEAKER_05: Yeah, right.
• 1:03
  SPEAKER_02: Last few episodes, I reckon I uh had too much of whiskey.
• 1:06
  SPEAKER_02: So let's stick to the water and see how far we can hydrated.
• 1:10
  SPEAKER_05: Okay, I understand.
• 1:12
  SPEAKER_02: So, Joshua, tell us a little bit about yourself.
• 1:15
  SPEAKER_02: Why financial planning and why did you come to this industry?
• 1:20
  SPEAKER_05: Why financial planning?
• 1:21
  SPEAKER_05: That's a very good question.
• 1:22
  SPEAKER_05: The reason why I started in the financial advice industry was because of the uh the background with which I came from.
• 1:30
  SPEAKER_05: Um, that there wasn't many people around me who were financially astute.
• 1:33
  SPEAKER_05: Um, many people I was from a low poverty area of life, I would say.
• 1:38
  SPEAKER_05: And during that time, there wasn't anyone around me who could show me how to invest, who can show me anything about loans, taxes.
• 1:46
  SPEAKER_05: So I went to school with the passion actually to find that out.
• 1:50
  SPEAKER_05: Um and luckily through school I was able to um land my first role at Vanguard.
• 1:56
  SPEAKER_05: And there at Vanguard, I was introduced to the world of investments and to the world of vice.
• 2:02
  SPEAKER_05: And it was quite quite shocking, like, oh, well, this is how the world actually works.
• 2:08
  SPEAKER_05: Okay.
• 2:08
  SPEAKER_05: So it's not about just going out and working harder every day, it's also using that income to go out and invest it in the appropriate way.
• 2:18
  SPEAKER_02: Right.
• 2:19
  SPEAKER_02: So with your accent folks, um Joshua is from United States.
• 2:25
  SPEAKER_02: Uh which part of the United States, Joshua?
• 2:27
  SPEAKER_05: From North Carolina, North Carolina.
• 2:29
  SPEAKER_05: Okay.
• 2:29
  SPEAKER_05: Yes, so I'm from the place of Michael Jordan.
• 2:32
  SPEAKER_05: Oh, right.
• 2:32
  SPEAKER_05: Down there.
• 2:33
  SPEAKER_05: So a lot of the people know about Jordan.
• 2:35
  SPEAKER_05: It's like I'm from there, and we have a very big passion for sports.
• 2:40
  SPEAKER_05: Okay.
• 2:40
  SPEAKER_05: I'm side of the country.
• 2:42
  SPEAKER_05: So you you you play basketball?
• 2:43
  SPEAKER_05: I play football.
• 2:44
  SPEAKER_05: So I've actually played American football.
• 2:45
  SPEAKER_05: So I was uh I played American football through from the age 10 all the way to 33.
• 2:51
  SPEAKER_05: Um, and the only reason why I'm not playing now is because my son plays AFL.
• 2:55
  SPEAKER_05: So he takes up all that time and plays basketball.
• 2:58
  SPEAKER_05: So those are things I have to a shift from uh American football to Australian football.
• 3:04
  SPEAKER_05: It's a very big shift.
• 3:06
  SPEAKER_05: I'm still I'm I'm gathering my my actual stuff to find out how the rules work all the time, but I'm I'm I'm getting there.
• 3:14
  SPEAKER_05: Nice.
• 3:14
  SPEAKER_02: All right, so let's get on to it.
• 3:17
  SPEAKER_02: In the current, I mean, obviously, we we had the budget coming from the current um uh government.
• 3:25
  SPEAKER_02: A lot of things change.
• 3:26
  SPEAKER_02: Let's start with property.
• 3:28
  SPEAKER_02: Property, typical property investor, negative gearing out of the way.
• 3:34
  SPEAKER_02: So now they are thinking, what next?
• 3:37
  SPEAKER_02: What to do?
• 3:38
  SPEAKER_02: Is it still property?
• 3:39
  SPEAKER_02: Joshua, what do you reckon?
• 3:42
  SPEAKER_05: So and so into what I reckon is the the best step is to actually understand what your goals are and also uh understand what your risk appetite is.
• 3:54
  SPEAKER_05: And then if you sit down and speaking to an advisor, of course, um, we can assist you with with creating a strategy to assist you with assisting those goals with the with the correct investments and assets in there in your portfolio.
• 4:10
  SPEAKER_02: Okay, um, so if you talk about property itself, it has been a great success story in Australia, right?
• 4:19
  SPEAKER_02: So, I mean, I myself invested in property, Sonali being obviously being the financial planner, she obviously asked me to diversify as well.
• 4:29
  SPEAKER_02: So she's done her investments in different asset classes, but I like property, bricks and mortar, seat ways, you know, when when the value goes up, the rent goes up, it feels good as well.
• 4:41
  SPEAKER_02: Plus, the fact that you get tax benefits, negative gearing, it helps too.
• 4:46
  SPEAKER_02: So now, from my personal aspect of it, if I tell you, I'm now thinking maybe I I just focus on certain types of properties only.
• 4:58
  SPEAKER_02: Is that something from the financial planning perspective?
• 5:02
  SPEAKER_02: As if you have a hypothetical customer, what would you say should you should you look into the same asset class in a different eye, or should you altogether forget about that asset class, look for other asset class?
• 5:18
  SPEAKER_05: What what is your so anytime when you look at any asset class?
• 5:23
  SPEAKER_05: Um, I wouldn't say that there's a certain one to go into.
• 5:27
  SPEAKER_05: It's always best to diversify across a few of the same um asset classes.
• 5:33
  SPEAKER_05: So you even if you're in property, you wouldn't want to go into have three homes, I would say.
• 5:39
  SPEAKER_05: Yeah, and so uh you you you want to look um go out and diversify and entity to commercial property and things of that nature, just so you can build out the property portfolio.
• 5:50
  SPEAKER_05: Because once, because depending on the rent from or the capital gains from one side of the market, so so say if you're investing in a home, that may not be going up like right now, currently properties are going down, whereas when you if you look on the commercial side, they're going up.
• 6:08
  SPEAKER_05: So being that diversified is always key with any investment.
• 6:12
  SPEAKER_02: Okay, okay.
• 6:15
  SPEAKER_02: A lot of people ask me this question um, should we uh should we look into buy investment properties in in uh different kinds of um structures such as self-managed super funds, um you know, trusts.
• 6:32
  SPEAKER_02: So obviously now the trust is also a bit of a question, Mark, for investors.
• 6:36
  SPEAKER_02: Um, but at the same time, self-managed super fund, they said no more residential properties, properties there, uh commercial properties.
• 6:44
  SPEAKER_02: In overseas properties, well, oh that that's that's something I'm gonna I really like to know about that overseas properties on self-managed super fund.
• 6:52
  SPEAKER_02: But before we get to that, from the Australian perspective, commercial properties are good to go.
• 6:57
  SPEAKER_02: Are there a what kind of benefits from the financial planning perspective you would advise?
• 7:04
  SPEAKER_02: Not advice in the sense why would why would a recommendation comes from a commercial property for a self-managed super fund?
• 7:12
  SPEAKER_02: What sort of benefits a person could expect?
• 7:16
  SPEAKER_05: Well, that's something I would say we have to go to a property advisor.
• 7:20
  SPEAKER_05: As a factual advisor, I am not astute in the property side of things.
• 7:25
  SPEAKER_05: So from the aspect from what I look at is to make sure that that property is stands up to assist you to your assistant person with achieving their goals.
• 7:34
  SPEAKER_05: So it goes back to um well, what's the rental yield?
• 7:38
  SPEAKER_05: How much are our capital gains going to be in the next five, 10, 15 years, so that we we can go ahead and calculate that for the actual portfolio is about the right now again with the financial device is about looking into the future.
• 7:52
  SPEAKER_05: So advisors we we tend to work in alongside um on brokers and I'm here at TMS, um, as well as as as um as property people as well, yeah, and we're working with accountants, and we then we use each of their each of the recommendations and create a strategy so that it can be a plan for each client.
• 8:15
  SPEAKER_02: The reason I answered that question, a lot of people in the market think the financial planners can actually advise to go and buy this, go and buy that, go and do this.
• 8:23
  SPEAKER_02: It's not how it works, as Joshua just explained Joshua will work with different types of professionals within that industries and put it together to make sure it aligns with your actual goal, what you want to achieve.
• 8:37
  SPEAKER_02: That's correct.
• 8:38
  SPEAKER_02: That's correct.
• 8:39
  SPEAKER_02: So tell me a little bit about this overseas uh property investments.
• 8:42
  SPEAKER_02: How does that work in a self-manus farm?
• 8:45
  SPEAKER_05: So it will work the same way as it works um with a will previously with the residential home as well as a commercial property.
• 8:53
  SPEAKER_05: So in in some cases, depending on the property costs, you you can use the funds as super and and buy the the property just 100% outright.
• 9:02
  SPEAKER_05: But there are uh a few, I'm sure that you would know this, there are a few banks out there that will launch a tours for overseas properties within South Mastery Funds as well.
• 9:11
  SPEAKER_02: Yep, yep, yep.
• 9:13
  SPEAKER_02: So this is this is why, folks, you need an accountant working alongside you, especially you gotta understand if you make a profit in overseas, you bring your profit here, there's gonna be taxation.
• 9:25
  SPEAKER_02: So you gotta have a financial planner, you gotta have an accountant, you gotta have a property advisor, and a broker, and a broker.
• 9:32
  SPEAKER_05: Definitely because you need the financing.
• 9:35
  SPEAKER_02: So leveraging is one of the main things, as I always say to all my uh listeners here, all our listeners, all our clients.
• 9:43
  SPEAKER_02: If you know how to leverage correctly, you can make a good amount of wealth for you as well as for your children, maybe beyond.
• 9:53
  SPEAKER_02: All right, let's um let's talk about why a person, especially these days, needs a financial planner.
• 10:03
  SPEAKER_02: What are what kind of areas a financial planner can improve in their lives, in their investments beyond?
• 10:11
  SPEAKER_05: I would say that there's three key areas in which a financial advisor can um will be able to assist.
• 10:18
  SPEAKER_05: And with these areas, it's more it's a compounding effect of actually of looking at these areas.
• 10:23
  SPEAKER_05: So so number one, we look at legal tax savings.
• 10:27
  SPEAKER_05: So there's legal ways that people can save on tax um each year.
• 10:32
  SPEAKER_05: Number two, paying less on fees, so that that can be insurance fees, that can be investment fees, um, uh as well as investment fees.
• 10:39
  SPEAKER_05: Um, and then any advisor fees as well.
• 10:42
  SPEAKER_05: So and then we're working alongside our our um our um partners in in the broking space, yeah, we we can help reduce their home loans.
• 10:54
  SPEAKER_05: So that that's that's another percentage.
• 10:56
  SPEAKER_05: Then finally, we can look at looking at the investment portfolio for each person and actually trying to increase their investment portfolio.
• 11:04
  SPEAKER_05: So the way I look at it, if we can help them save or gain three to four percent each of those areas, yeah, that should get that that should equate to about 10 to 12 percent each year if we compound that over five to ten years.
• 11:18
  SPEAKER_02: Absolutely.
• 11:19
  SPEAKER_02: Yep, yeah.
• 11:21
  SPEAKER_02: Okay, so folks down.
• 11:22
  SPEAKER_02: If you if you if you were paying attention, I was paying attention here because this is something that everybody should listen, everybody should note it down.
• 11:32
  SPEAKER_02: What Joshua said was it's gonna help you to reduce your tax, which is more money for you, it's gonna help you to reduce the fees, more money for you.
• 11:42
  SPEAKER_02: It's gonna also help you to increase the investment returns, more money for you.
• 11:49
  SPEAKER_02: And going forward, it's gonna keep on happening.
• 11:52
  SPEAKER_02: So you're compounding returns, compounding savings, and your wealth, it keeps growing.
• 11:59
  SPEAKER_02: So what I heard was pretty much for a business owner, uh uh uh an active investor is is literally music to my ear.
• 12:09
  SPEAKER_02: Um it's like me listening to Tupac back in the day, man.
• 12:14
  SPEAKER_02: Listening to proper, proper, um, you know, proper Tupac, the real uh the the the emotions that comes out, you know, it says that is exactly what it is when you when you fast track into your current lifestyle, and and this is this is where most of us are thinking, okay, should I speak to this individual?
• 12:36
  SPEAKER_02: Can I invest with this individual so I can get a higher return?
• 12:39
  SPEAKER_02: But then if I get a higher return, I come back here or God there's EGT, and then 30%, 50%, whatever your tax threshold you are in, gone.
• 12:50
  SPEAKER_02: So having a financial planner, guys, if you really, really want to invest properly and have more money to yourself, I reckon that's a must, especially these days.
• 12:59
  SPEAKER_05: That's correct, for sure.
• 13:01
  SPEAKER_05: Okay.
• 13:02
  SPEAKER_05: Now I'll add on to that to just so in there, because the question always comes up it well, am I in the right space to speak to a financial advisor?
• 13:11
  SPEAKER_05: Who should speak to a financial advisor?
• 13:13
  SPEAKER_05: So the answer for that, I would say, is uh a um the person who who speaks to a financial advisor should be someone who has a financial goal.
• 13:24
  SPEAKER_05: Okay.
• 13:24
  SPEAKER_05: And really, and they're and they are and they have a plan, and they have a they're the income, that the finance is already there, but their goal is X amount.
• 13:35
  SPEAKER_05: So maybe they may be coming here to uh um to TFS purchasing um the their first home.
• 13:43
  SPEAKER_05: But they have a goal to have five homes five, ten years.
• 13:48
  SPEAKER_05: How are they gonna do that?
• 13:49
  SPEAKER_05: How how are we gonna structure that person to to achieve that goal?
• 13:54
  SPEAKER_05: It could be a person who's about to get married, a person who's um who's leaving college, a person who's become retired, person who's had a deaf in the family.
• 14:03
  SPEAKER_05: Right.
• 14:03
  SPEAKER_05: There's many different ways.
• 14:04
  SPEAKER_05: Anytime there's a life event, yeah, it's probably a good time to speak to a financial advisor.
• 14:10
  SPEAKER_05: Wow.
• 14:11
  SPEAKER_01: Wow.
• 14:11
  SPEAKER_01: First home buyers.
• 14:14
  SPEAKER_01: That that makes perfect sense.
• 14:16
  SPEAKER_01: That makes perfect sense.
• 14:18
  SPEAKER_05: So the first home buyers is they have a goal to go out and purchase their first home.
• 14:23
  SPEAKER_05: Yeah.
• 14:24
  SPEAKER_05: There's the first home super server scheme, or the first home super server scheme, there's a five percent deposit.
• 14:32
  SPEAKER_05: There's the the the and a few other grants out there.
• 14:35
  SPEAKER_05: So if we work in and actually are able to understand their income, understand what their goal is, their timeline, and the grants are available and the schemes, we can put that together into a plan to help them achieve purchase their home record.
• 14:51
  SPEAKER_05: Wow.
• 14:54
  SPEAKER_02: So especially these days when it's really, really hard to get into the first home buyer market or first home or buy your first home, saving up a deposit of a$30,000.
• 15:04
  SPEAKER_02: You gotta have a bare minimum of$30K.
• 15:06
  SPEAKER_02: But if you're buying an established property, you gotta have a bit more than that.
• 15:09
  SPEAKER_02: I mean, we've done an episode on this.
• 15:12
  SPEAKER_02: Five percent on a six hundred thousand is thirty thousand.
• 15:15
  SPEAKER_02: Yes, you won't pay stamp duty, but then there's other fees for your council rates, water rates, your lawyer fees, it adds up.
• 15:22
  SPEAKER_02: It's gonna 35,000, 40k.
• 15:24
  SPEAKER_02: But if you're buying something about$700,000, all of a sudden you're gonna need$60K.
• 15:30
  SPEAKER_02: Now, for everyday Australian, especially a first-stone buyer, to save up$60,000, especially on on times like um these days where the uh living expenses are much higher, savings patterns are lower.
• 15:47
  SPEAKER_02: It's tough, tough gig.
• 15:49
  SPEAKER_02: Yes.
• 15:49
  SPEAKER_05: It's a tough gig.
• 15:51
  SPEAKER_05: It's it's tough.
• 15:52
  SPEAKER_05: And the reason why I say it's tough because things always like there's always an expense.
• 15:58
  SPEAKER_05: Things are are are going to pop up.
• 15:59
  SPEAKER_05: There's going to be a flat tire, there's going to be this.
• 16:02
  SPEAKER_05: There's going to be things that, yes, I'm saving for this goal, but I had my someone in my family die and I had to go buy a plane ticket.
• 16:12
  SPEAKER_05: And yes, I was going to spend$2,000, but I ended up spending$10,000.
• 16:15
  SPEAKER_05: Now I only have about um$20,000 of my home loan left.
• 16:21
  SPEAKER_05: So I gotta start all over again.
• 16:22
  SPEAKER_05: So the thing that the super saver scheme does is that once you put the money into the super, you can't take it out until you buy your home.
• 16:30
  SPEAKER_05: The other advantage is it's tax less than what your than what most people are being taxed.
• 16:35
  SPEAKER_05: So the money that's going to your bank account, you're taxed at your marginal tax rate.
• 16:39
  SPEAKER_05: The money that goes to your super fund is taxed at 15%.
• 16:42
  SPEAKER_05: Wow.
• 16:42
  SPEAKER_05: So that's the savings right there.
• 16:44
  SPEAKER_03: Yeah.
• 16:45
  SPEAKER_05: And that compounding over every five years will make or earn a lot more.
• 16:51
  SPEAKER_05: Or was it will it has the potential to earn more?
• 16:55
  SPEAKER_02: So I read it somewhere.
• 16:57
  SPEAKER_02: Um everyday Australian who's looking to save to buy their first home.
• 17:02
  SPEAKER_02: It used to be eight years, now it's 12 years.
• 17:06
  SPEAKER_02: But with the right advice and the right plan and the structure, you could get to five years if you do it right.
• 17:13
  SPEAKER_05: Yes, it's it's always a potential depending on income, on that person's on their work ethic, I would say, and the strategy.
• 17:23
  SPEAKER_05: The strategy is the key because if if it's not into a plan, there's it doesn't remain it's just smoke and mirrors.
• 17:30
  SPEAKER_05: Yep.
• 17:30
  SPEAKER_05: So once you have in a plan, so the the the thing about with going through an advisor is that we can look at all the scenarios.
• 17:37
  SPEAKER_05: We can actually kind of we'll use our finances, your finances now to kind of predict what's going to happen in the future and see if it's going to stand up to actually meet your goal.
• 17:48
  SPEAKER_05: So instead of you go out and purchase a home or or to start saving from home, I would say now, and hoping to buy a home in three years, you can say, well, maybe if you do it like this, that could potentially happen.
• 18:02
  SPEAKER_05: But you can do it like this, happen in five years, or if you want to go out and travel and everything fun and live a life, you can do it in seven years.
• 18:09
  SPEAKER_05: Yeah, but it all depends on that person.
• 18:12
  SPEAKER_02: Wow.
• 18:13
  SPEAKER_02: So this, I mean, if you really think about it, first-stone buyers, if you do this right, you I was while you're speaking, I was doing some numbers as well for a for a typical first-stone buyers who's earning husband and wife$100,000 each,$200,000 and all household income.
• 18:29
  SPEAKER_02: It won't take two, it won't take five years because the government is helping you with a lot of incentives out there, right?
• 18:35
  SPEAKER_02: You don't pay stamp duty, even if you pay stamp duty, that's about maximum discounts.
• 18:40
  SPEAKER_02: Um lenders' mortgage insurance, you just have to save about a five percent deposit.
• 18:47
  SPEAKER_05: Yep, first of all, ten thousand, depending on it's a single mothers or single parents to do the um there's a there's a lot of them out there.
• 18:55
  SPEAKER_02: There's a lot of them out there.
• 18:56
  SPEAKER_05: Basically, the government wants people to buy property, you get in property at the time, yeah.
• 19:01
  SPEAKER_02: But the people also need to understand how to actually get to that goal.
• 19:04
  SPEAKER_02: Yeah, so you touched on something really cool, you touched on a mindset and also identify the goal, what you want to achieve.
• 19:12
  SPEAKER_02: So, one of my episodes, I think we talked about a poor man's mindset.
• 19:15
  SPEAKER_02: So, the poor man's mindset, um, if you always think that you're not gonna achieve, you won't achieve it.
• 19:20
  SPEAKER_02: But if you think that this is what I want to achieve, if and and seek help, you get the guidance, you get the path.
• 19:26
  SPEAKER_02: All you have to do is walk the path.
• 19:28
  SPEAKER_05: Exactly.
• 19:29
  SPEAKER_05: And also having the habits.
• 19:32
  SPEAKER_05: So having good um financial habits is is one thing that I would say is very helpful.
• 19:39
  SPEAKER_05: So when you're saving, it's a good habit because you're learning to take money that you're earning and put it into uh a round day fund.
• 19:50
  SPEAKER_05: Eventually, that savings is going to get to a point where you don't need it's gonna max out.
• 19:55
  SPEAKER_05: I mean you probably only need I'll say um$12,000 of savings if it's a person just for an example.
• 20:02
  SPEAKER_03: Yeah.
• 20:03
  SPEAKER_05: Now when you get hit the hit once you hit the$100 amount, you still have to have it, the money's still coming in.
• 20:10
  SPEAKER_05: That's when you start putting money into investments, right?
• 20:12
  SPEAKER_05: Because you're actually learning this.
• 20:14
  SPEAKER_05: I have my emergency fund.
• 20:15
  SPEAKER_05: So if anything happens, anything goes crazy, I can go into this fund instead of going to my actual home savings fund.
• 20:24
  SPEAKER_05: Yeah, and what that does is like it builds so understanding those strategies and then having the goals, the goals are number one.
• 20:34
  SPEAKER_05: Goals for franchise are the number one, because the goals will help you.
• 20:40
  SPEAKER_05: If there's anything in your cash flow that's not going to help you, the goals are gonna make you not do that thing, right?
• 20:46
  SPEAKER_05: Because if you want to take your family on a holiday and it's gonna cost, let's say, um, thirty-five thousand dollars, yeah, and you have all these subscriptions, you may want to get rid of these subscriptions to go on the companies.
• 21:00
  SPEAKER_03: Okay.
• 21:01
  SPEAKER_05: It's not saying that I'm putting you on, it's not saying that we're putting you on a budget.
• 21:04
  SPEAKER_05: Yeah, it's you saying that that goal is more important than these subscriptions.
• 21:08
  SPEAKER_02: Absolutely.
• 21:09
  SPEAKER_02: Absolutely.
• 21:10
  SPEAKER_02: That that's that's that's amazing.
• 21:12
  SPEAKER_02: Um what to me and wish he did this thing.
• 21:14
  SPEAKER_02: Um, and one of the episodes we were talking about, like I said before, the poor man's mindset.
• 21:18
  SPEAKER_02: You got you gotta you gotta learn how to compromise too.
• 21:20
  SPEAKER_02: You got you gotta learn how to start maybe small.
• 21:23
  SPEAKER_02: Yes, it's okay to go home and cook a meal for yourself, that'll cheap, that'll that'll be cheaper rather than ordering Uber.
• 21:30
  SPEAKER_02: Maybe if you have to do it for a good four weeks, do it, see how much you can save.
• 21:34
  SPEAKER_05: Exactly.
• 21:35
  SPEAKER_05: Or like I I had a client who had loved coffee.
• 21:39
  SPEAKER_05: That was his thing.
• 21:39
  SPEAKER_05: Love coffee.
• 21:40
  SPEAKER_05: He was drinking eight coffees a day.
• 21:42
  SPEAKER_05: Guilty as charge, I'd do that too.
• 21:44
  SPEAKER_05: So and when you think about that, like if you're purchasing eight coffees a day, we'll say on average eight coffee is like four dollars.
• 21:53
  SPEAKER_05: You could buy the best coffee machine in the world for that amount over a year.
• 22:00
  SPEAKER_05: If you save that$30 over 52 weeks, you go buy any machine spreadsome machine one and have the best coffee.
• 22:07
  SPEAKER_05: But it's the instant of gratification that which people had to get over.
• 22:11
  SPEAKER_05: So because we we actually live in an instant world.
• 22:18
  SPEAKER_05: It's called Uber Eats.
• 22:19
  SPEAKER_05: That's it.
• 22:19
  SPEAKER_05: I taxi.
• 22:21
  SPEAKER_05: What taxi?
• 22:21
  SPEAKER_05: I can just go here.
• 22:23
  SPEAKER_05: Like I don't wait.
• 22:26
  SPEAKER_05: I need I want chips, right?
• 22:27
  SPEAKER_05: I want potato chips right now.
• 22:28
  SPEAKER_05: Yeah.
• 22:29
  SPEAKER_05: I couldn't go to Coles.
• 22:30
  SPEAKER_05: No, just go to 7-Elevens right there.
• 22:32
  SPEAKER_05: Everything is it's a it's a microwave uh society where everybody wants things to go in and and and pop out.
• 22:39
  SPEAKER_05: Like even when it comes to even property, yeah, you understand that property is a seven-year time frame of investment.
• 22:44
  SPEAKER_05: It's a long-term game, it's long term.
• 22:46
  SPEAKER_05: It's it's it's a it's not something that's in which you're going into thinking I'm going to get a quick retro turn or quick uh and gain the capital.
• 22:53
  SPEAKER_05: Yeah, but you're sitting on this and you're accepting this risks for the return in potentially seven years.
• 22:59
  SPEAKER_02: Yep, yep, absolutely.
• 23:01
  SPEAKER_02: It's funny how the market, the social media, I mean, this is this is actually to blame to the media as well.
• 23:08
  SPEAKER_02: Media, social media, and obviously the wrong advisors or wrong individuals working in the wrong industries, yes, sort of giving advice buy this property, buy that, you invest here, you do this, you do that.
• 23:20
  SPEAKER_02: I always say this if these people haven't done this for themselves, they have no idea how to do it.
• 23:24
  SPEAKER_02: Exactly.
• 23:25
  SPEAKER_02: It's like watching a karate movie today, and tomorrow, okay, right?
• 23:28
  SPEAKER_02: I'm I'm actually ready to go.
• 23:29
  SPEAKER_05: I'm in a black belt.
• 23:30
  SPEAKER_05: I'm a black belt, yes.
• 23:33
  SPEAKER_05: It's just not happening, yeah.
• 23:35
  SPEAKER_02: So to some to a certain extent, the media has to take the blame.
• 23:38
  SPEAKER_02: Yes, that there are a lot of first home buyers I have seen who we have given home loans, they want to make hundred thousand dollars in the first year of a property purchase, and if it happens good on you, well done, but that's not gonna happen every day, yes.
• 23:51
  SPEAKER_05: And that's and and and what's misconstrued in the media is that they show the extremes, yeah.
• 23:57
  SPEAKER_05: So you have one side people who are scared to go into property because they'll show the extreme of the losses.
• 24:03
  SPEAKER_05: Yep, then you also have people who are just jumping in your property because they'll show the extremes of the gains, too.
• 24:08
  SPEAKER_05: So it's like, well, well, this home it went up, it it doubled in three years, but they don't say yes, because I was in a development um um council that just got approved for highway that built the hospital, and all this infrastructure is known to come in.
• 24:23
  SPEAKER_05: That's why it's yeah, it's gone up.
• 24:26
  SPEAKER_05: Whereas the other property that's out somewhere else, and or it could be just the wrong type of property.
• 24:31
  SPEAKER_05: So, but like you say, like there's apartments, there's townhouses, there's homes, there's there's there's um high density homes and there's low density homes as well.
• 24:39
  SPEAKER_05: Yeah, so which ones should should she purchase?
• 24:41
  SPEAKER_05: Like I've seen purchases, I've had the same clients with properties, yeah.
• 24:47
  SPEAKER_05: Who one property was great, other property we wish it was he wished to do that that it wasn't purchased.
• 24:54
  SPEAKER_05: Yeah, but that's the learning curve of property is that you have to be able to accept that risk and actually understand fundamentals.
• 25:03
  SPEAKER_02: Yeah, I mean, I I remember one of the clients, one of the clients' second property, second, second investment, went to the third investment, started complaining about the second investment, saying that it hasn't grown.
• 25:14
  SPEAKER_02: So I asked him the question, how are you describing this growth?
• 25:18
  SPEAKER_02: Or my third property, I bought it last year in in a state, uh, not in Victoria, another state.
• 25:24
  SPEAKER_02: In six months, it went to sixty thousand dollars.
• 25:27
  SPEAKER_02: How how did you come up to the number?
• 25:29
  SPEAKER_02: Oh, the bank text of valuation shows that the good that's data-based valuation.
• 25:34
  SPEAKER_02: But if you put the property to the market, would you get that?
• 25:36
  SPEAKER_02: Question number one.
• 25:37
  SPEAKER_02: Question number two is your second property, how much did you spend to buy that?
• 25:41
  SPEAKER_02: Yes.
• 25:42
  SPEAKER_02: So when we did the numbers, second property purchases, acquisition cost was as an investor, he did only fifty-two thousand dollars.
• 25:50
  SPEAKER_02: And the third, and in the 12 months, it has gone to 40,000 equity.
• 25:56
  SPEAKER_02: Gotcha, yep, right.
• 25:57
  SPEAKER_02: So if you look at it fifty-two thousand, forty thousand plus your tax benefits at that too, yep.
• 26:02
  SPEAKER_02: Now you're looking at a hundred percent return on investment, but your third property you pay your acquisition cost was about ninety thousand dollars for a sixty thousand dollar gain on a desktop valuation.
• 26:12
  SPEAKER_02: You understand the mindset?
• 26:13
  SPEAKER_05: Yes, and so and that's where that's what advisors do.
• 26:17
  SPEAKER_05: We look at the property for what it's doing and for what it potentially can do, and we put that into a strategy, and we can show hey, this property which you're purchasing, has this yield.
• 26:28
  SPEAKER_05: We if we this yield is compounded over the next five years, yeah, you're going to get X amount.
• 26:33
  SPEAKER_05: Yeah, and this is a conservative value.
• 26:35
  SPEAKER_05: Yeah, this is your third property.
• 26:36
  SPEAKER_05: It's good, it will be the same way.
• 26:38
  SPEAKER_05: We'll look at it with X amount.
• 26:40
  SPEAKER_05: We need to look at it, and then if you're on your third property, it's like when you get the fourth property.
• 26:45
  SPEAKER_05: Yeah, are you going to get the same type of property?
• 26:48
  SPEAKER_05: Yep.
• 26:48
  SPEAKER_05: Is it going to be, is the bank going to be, is it they're going to lend you for that property?
• 26:53
  SPEAKER_03: Yep.
• 26:53
  SPEAKER_05: Because then that's where I would say as an advisor that people get stuck at is property number three based on structure.
• 27:00
  SPEAKER_03: Yeah.
• 27:00
  SPEAKER_05: And and with the structure, it could be within a trust, a company, self-mass refund, but it's there's tax advantages in those structures that will allow you to not only continue to invest in property, also could potentially reduce your taxes in the long run.
• 27:18
  SPEAKER_02: Absolutely.
• 27:19
  SPEAKER_02: Absolutely.
• 27:20
  SPEAKER_02: Um, I'm gonna ask you a question: how important a financial planner for a business owner?
• 27:24
  SPEAKER_02: If you if you give it a rating, let's say one is like not important, ten is super important.
• 27:31
  SPEAKER_05: I would rate the financial advisor, or you can say by number, as important as their accountant.
• 27:38
  SPEAKER_03: Okay.
• 27:38
  SPEAKER_05: So the you gotta have you, it's is it's it's someone that you want to because yes, as a business owner, you're working now, you're working hard now.
• 27:49
  SPEAKER_05: What's gonna happen in the future when you don't want to work any longer?
• 27:52
  SPEAKER_05: Are you gonna pass on the family?
• 27:53
  SPEAKER_05: Are you gonna sell it?
• 27:54
  SPEAKER_05: How does that succession actually look?
• 27:57
  SPEAKER_05: What happens if you're no longer are able to work?
• 28:00
  SPEAKER_05: Comes in and your spot.
• 28:03
  SPEAKER_05: Wow, those are the things like they think about is not only the the um right now, you have to think about tomorrow as well.
• 28:09
  SPEAKER_05: Yeah, yeah, because if you don't think about tomorrow, then what you're doing right now may not work out for tomorrow because anything can change from government, from personal health, mental, it could be a change.
• 28:21
  SPEAKER_05: And if you don't have the right, I would say, um, safety levers in place, yeah.
• 28:26
  SPEAKER_05: That whole building or business you have built up all these years could crumble as quickly as possible.
• 28:32
  SPEAKER_05: Yeah, yeah, yeah.
• 28:33
  SPEAKER_02: So business continuation plan, you gotta have that.
• 28:35
  SPEAKER_05: Yeah, succession plan, I mean, because there's so many parts of a business that are moving.
• 28:41
  SPEAKER_05: So, yes, the business itself is the income um home generated asset of the person.
• 28:47
  SPEAKER_05: Yeah, but the person who owns the business is separate.
• 28:51
  SPEAKER_05: Yeah, so what happens if something happens to the person?
• 28:54
  SPEAKER_05: Yeah, if they're the key man in the business, yeah.
• 28:57
  SPEAKER_05: That's the and that's where we have to make sure that that things are in place so that if something does happen to the person, the business can't keep going and create income for that person, yeah.
• 29:07
  SPEAKER_05: So they're able to go back to work or go back to business, or create a plan where they can wind down the business and start investing assets outside the business to create an ongoing cash flow.
• 29:20
  SPEAKER_05: So it's many different ways of looking at the situation, but it's based on that person's on their situation.
• 29:28
  SPEAKER_02: So what do you just explain?
• 29:31
  SPEAKER_02: Insurance, right?
• 29:33
  SPEAKER_02: Insurance is is uh what I've just gathered from you while you're speaking and explaining about the the importance of financial plan to a to a business owner, the business owner needs to have insurance, whether it's in superanimation or whether it's outside support or whatever.
• 29:50
  SPEAKER_02: And at the same time, the first owned buyer is also needs to have insurance because they are in the same sort of a different kind of a boat, but they are also in the same floating level where income coming in, something goes wrong, who's gonna pay the mortgage?
• 30:07
  SPEAKER_02: What's what's your exit plan?
• 30:09
  SPEAKER_02: Is that an exit plan?
• 30:10
  SPEAKER_05: Exactly.
• 30:11
  SPEAKER_05: And so, like with what what I was speaking about was insurance as well as risk as within itself.
• 30:18
  SPEAKER_05: So when you look at insurance, yes, that does help to make sure that things are covered, but you also have to look at structures, so trusts, companies, those also can cover you as well.
• 30:27
  SPEAKER_05: Because if the person is attacked by somebody on social media or whatever, and they're attacked, that doesn't affect their business or it doesn't affect that person.
• 30:37
  SPEAKER_05: So they keep some separate.
• 30:38
  SPEAKER_05: So, and then if if something if it were to happen, so say there were um um two partners in the business, three partners in the business, and a partner he had an accident and died, according to the current structure, there it's a three-way split.
• 30:56
  SPEAKER_05: That means that whoever that beneficiary is of that person, they now have ownership of that business as well.
• 31:02
  SPEAKER_05: Because it's we can if there isn't a buy-sell agreement in place, they can still receive income off that business without having doing anything, and that's where having a insurance policy overlapping that.
• 31:17
  SPEAKER_05: So if something were to happen, say that did happen, they can go ahead and pay out that person, and the business can keep going.
• 31:24
  SPEAKER_05: So, yes, it's intertwined with insurance, but also there's structures of where that insurance should be held and who should be holding that insurance as well.
• 31:32
  SPEAKER_02: Okay, before we wrap up for this episode, I mean, folks, you stay tuned.
• 31:38
  SPEAKER_02: We're gonna do a number of podcasts.
• 31:41
  SPEAKER_02: You you're gonna learn certain subjects, how things are going to work.
• 31:45
  SPEAKER_02: Um, so stay tuned uh with this series.
• 31:49
  SPEAKER_02: Uh, it'll be pretty cool.
• 31:51
  SPEAKER_02: So, coming back to this episode before I wrap up, retirement.
• 31:55
  SPEAKER_02: I think everybody needs to think about the retirement, what kind of a retirement they envision or plan to have, and how is actually that retirement is going to be?
• 32:06
  SPEAKER_02: Is it in Australia or is it in some other place?
• 32:09
  SPEAKER_02: What is it?
• 32:11
  SPEAKER_02: How does a financial planner help to identify and plan for your retirement?
• 32:16
  SPEAKER_02: What kind of things are you guys?
• 32:18
  SPEAKER_02: This this this industry, the financial planner, can do.
• 32:22
  SPEAKER_05: So within when anyone's working, I would say the whole purpose is kind of retirement.
• 32:28
  SPEAKER_05: If you're investing, it's kind of retirement.
• 32:29
  SPEAKER_05: If you're in business, it's retirement.
• 32:31
  SPEAKER_05: That's usually when I speak to people who have a business, that business is their retirement plan.
• 32:37
  SPEAKER_05: Those properties are their retirement plan.
• 32:39
  SPEAKER_05: So it's all a part of it from the very beginning.
• 32:43
  SPEAKER_05: So by the time that someone starts working, they should be thinking about their retirement.
• 32:47
  SPEAKER_05: So it's putting away of small amounts of money towards a retirement.
• 32:56
  SPEAKER_05: Um we have superannuation.
• 32:58
  SPEAKER_05: Superannuation, you your employees pay 12% each month into your super or um based on your wage.
• 33:09
  SPEAKER_05: But compounding that amount to make sure that that's in the right investments over time, that's where where a financial advisory um comes in at.
• 33:17
  SPEAKER_05: So I've seen clients who've had who come to me with retirement funds or with investments outside of super properties and say, hey Josh, I'm about 50 and I'm thinking about retirement.
• 33:32
  SPEAKER_05: I'm not gonna retire anytime soon, but I want to create a plan for retirement.
• 33:37
  SPEAKER_05: I want to I want to um I know that I'll that that I want to sell my home because the kids are gone.
• 33:45
  SPEAKER_05: All the kids will be gone in in five, six years, so I want to sell the home.
• 33:48
  SPEAKER_05: So there's things like the the um the um the um downsides are of the contribution, right we can do, which is three hundred thousand dollars per person if they're a couple, yeah, to put into super to help them to um actually um grow their retirement.
• 34:04
  SPEAKER_05: Yeah, there's things like if someone who is like, well, I've been working as a plumber, I would say I've owned a plumbing business, it's five days a week, and I'm I'm I'm tired of working uh five days a week.
• 34:17
  SPEAKER_05: Say at the age of 60, they can do what's called a transition retirement, and then they can reduce their hours and make up that money from money in their super, which we changed into a pension.
• 34:29
  SPEAKER_05: So there's a different way to plan for retirement because everybody's retirement is different.
• 34:33
  SPEAKER_05: So there's some people who want to work until age seven, some people who want to work until age sixty.
• 34:38
  SPEAKER_05: There's some people, I mean nowadays it's a whole fire movie in which people they want to retire 50, 51, 52.
• 34:49
  SPEAKER_05: So the retirement is different per person.
• 34:52
  SPEAKER_02: Okay, okay.
• 34:54
  SPEAKER_02: So so so basically, um before you start anything, you and like you said, you already decided about the retirement, you just don't know how you the retirement is gonna be.
• 35:05
  SPEAKER_02: So I have a question for you, when that example you mentioned, um what how old was that person who asked that you won't retire by 50?
• 35:16
  SPEAKER_02: Was it 40, 35, 30?
• 35:19
  SPEAKER_05: So retirement 50, they're usually they're professional, they're and they're grinding, they have investments, so they they could be anywhere between lowest things.
• 35:30
  SPEAKER_05: I think they were 35 at that time.
• 35:32
  SPEAKER_05: Yeah, yeah.
• 35:33
  SPEAKER_05: Um but again with their income, it wasn't too far fetched to retire at 50.
• 35:40
  SPEAKER_05: Right.
• 35:40
  SPEAKER_05: Yes, they would have to sacrifice things in today to live out their dream life tomorrow.
• 35:48
  SPEAKER_02: Right.
• 35:49
  SPEAKER_02: So it's it it's it's a good age to think about it at 35 your retirement.
• 35:55
  SPEAKER_02: It doesn't need to be 50, it can't be 60.
• 35:58
  SPEAKER_05: It could be so like it could be as early as you want it, especially when you have the right assets there that can that can provide you the income.
• 36:08
  SPEAKER_05: So the whole purpose of investing is to receive income or assets or or or or or some form of capital.
• 36:16
  SPEAKER_05: And if you can receive capital that is going to outrun your supernaturation fund, it's not and it's the outside super.
• 36:24
  SPEAKER_05: There may not be a reason for you to continue working if your investments can pay you the same wage.
• 36:31
  SPEAKER_02: Okay.
• 36:32
  SPEAKER_02: I'm gonna ask you a question.
• 36:33
  SPEAKER_02: You don't have to tell me the answer, but let's go for it.
• 36:35
  SPEAKER_02: Current market, current in uh current economy.
• 36:39
  SPEAKER_02: How much do you need to retire?
• 36:42
  SPEAKER_05: How much do you need to retire?
• 36:44
  SPEAKER_05: So that would um wow, the best place to look at is to go to the retirement standard for the Australian retirement standard.
• 36:55
  SPEAKER_05: If I'm not mistaken, someone who is aged 67 today, they would have to have somewhere between 700 as a married couple.
• 37:06
  SPEAKER_05: Yes, I think it's 760,000 to$800,000 as to have a comfortable retirement.
• 37:12
  SPEAKER_05: And this is something that I can even share with you.
• 37:15
  SPEAKER_05: Something that people can actually can see.
• 37:18
  SPEAKER_05: There's a actually a standard, this how much that you can have, and there's actually it shows you like if you like because there's a lot of retirements.
• 37:25
  SPEAKER_05: There's a retirement that's a comfortable retirement.
• 37:27
  SPEAKER_05: A comfortable retirement is that you can go out, you can travel, you can do, you can have your car upgrade, whatever car you want.
• 37:34
  SPEAKER_05: Yeah, if you have a mediocre one, then that means that you you're on a budget, you can't have all the fancy things, but you can have a trip or a trip a trip every few few years.
• 37:44
  SPEAKER_05: Um, and you can you could get a budget haircut every now and then.
• 37:48
  SPEAKER_05: Then there's also having a certain link satellite.
• 37:51
  SPEAKER_05: So if you're on a certain link, and the you're an age pension, home to Lois.
• 37:54
  SPEAKER_05: Yeah, so that means that you're not going anywhere overseas.
• 37:58
  SPEAKER_05: Yeah, you're probably going to just travel around all locally around this area because you don't have enough funds.
• 38:06
  SPEAKER_05: Right.
• 38:06
  SPEAKER_05: So that's where it's so important to actually understand where do you want to be, how much do you need to earn to live out those years in retirement.
• 38:15
  SPEAKER_05: Because as we get older, as as the time passes on, I would say that we are we are now um we're living longer.
• 38:24
  SPEAKER_05: Yeah, so people aren't dying in the 60s and 70s, they're dying in the 80s, 90s.
• 38:28
  SPEAKER_05: So you need 30 years, you could have plant more out income.
• 38:32
  SPEAKER_05: Yeah, so that's a very long time not having from depending on a job, yeah.
• 38:38
  SPEAKER_05: You have to go into an income paper.
• 38:40
  SPEAKER_05: You've already looked up that side of your life.
• 38:43
  SPEAKER_05: So with the standard, and you and you you you can quote me on this because it's on the retirement standard um.com.u and it things about it's things just under eight eight hundred thousand dollars for America, yeah, yeah.
• 38:57
  SPEAKER_05: I think I think the way things are happening is it's not gonna be enough.
• 39:00
  SPEAKER_05: So that would as for today's dollars, yeah.
• 39:03
  SPEAKER_05: Today's dollar.
• 39:04
  SPEAKER_05: So and with inflation in for our age and in our 40s, yeah, that that will be 1.7, 1.
• 39:11
  SPEAKER_02: It would have to be because things are going to increase.
• 39:13
  SPEAKER_02: Yeah, yeah.
• 39:14
  SPEAKER_02: Especially when the AI coming in and the things are gonna be even much easier.
• 39:19
  SPEAKER_05: So yeah, is inflation.
• 39:21
  SPEAKER_05: I mean, it's inflation over the years, yeah.
• 39:23
  SPEAKER_05: So like the chart for um that I showed most of my clients on Vanguard.
• 39:27
  SPEAKER_05: You can invest um ten thousand dollars in cash um in 1996.
• 39:34
  SPEAKER_05: You look you look today, it'll be about 33 uh$32,000 in today's dollars.
• 39:40
  SPEAKER_05: Yeah, so it will grow to that amount.
• 39:41
  SPEAKER_05: Yeah, but the inflation is$22,000.
• 39:44
  SPEAKER_05: So you've only you've only made$300 in 30 years being in cash.
• 39:49
  SPEAKER_05: Wow.
• 39:49
  SPEAKER_05: So holding cash for long periods of time isn't a great option either because you lose the the buying power of that cash.
• 39:56
  SPEAKER_05: Yeah.
• 39:58
  SPEAKER_02: Yeah.
• 39:58
  SPEAKER_02: Josh, that's amazing.
• 40:00
  SPEAKER_02: I think um 40 odd minutes of uh um uh podcast, we we covered the basics of a financial planner and what TFS financial planning is uh willing to offer.
• 40:13
  SPEAKER_02: And I mean we we are offering quite a lot of clients of our you know existing TFS clients and and new clients.
• 40:19
  SPEAKER_02: We are we are giving them these strategies, they are doing it.
• 40:23
  SPEAKER_02: Um the reason we want obviously now, um, it is time that we tell the world what we actually do.
• 40:30
  SPEAKER_02: It's not just mortgage brokering, and our marketing boys are saying you don't need brokers anymore.
• 40:36
  SPEAKER_02: Uh I love it too.
• 40:39
  SPEAKER_02: I love it how they come up with these kind of slogans, but it's it's it's brilliant.
• 40:43
  SPEAKER_02: Um so going uh in the next uh coming episodes, folks, we're gonna be talking about superannuation, what types of superanimation, what what a superanimation actually do for you, and where where where are what kind of investment usually a superanimation fund does, and then what is the return, how it works.
• 41:04
  SPEAKER_02: Is a self-managed super fund is actually is it good for you or not?
• 41:08
  SPEAKER_02: Maybe you shouldn't actually get a self-managed super fund.
• 41:12
  SPEAKER_02: Um, so we're gonna talk about those things.
• 41:15
  SPEAKER_02: We we we will keep it real as possible.
• 41:17
  SPEAKER_02: Um yes, for sure, definitely real.
• 41:20
  SPEAKER_02: So we won't give you too too many finance jargons as well.
• 41:24
  SPEAKER_02: Look, end of the day, um, we don't expect you to understand everything.
• 41:27
  SPEAKER_02: Um, that's why we are here.
• 41:29
  SPEAKER_02: Uh, you want to get more details, um do visit our website and uh uh reach out to Josh.
• 41:39
  SPEAKER_02: He's more than happy to help you and he's capable.
• 41:42
  SPEAKER_02: He's uh that's why he's here.
• 41:43
  SPEAKER_02: He's he's he he's he's a he's a TFS family, he's a capable, capable individual.
• 41:49
  SPEAKER_02: Um I hundred percent recommend him.
• 41:52
  SPEAKER_02: So don't be afraid.
• 41:54
  SPEAKER_02: Make a call, go to the website, make an appointment, and have a chat and see how your retirement is going to look like.
• 42:00
  SPEAKER_05: Well, thank you very much, Primar, for having me.
• 42:03
  SPEAKER_05: And as well, just so everyone knows the first few chats are a um a um complimentary chat.
• 42:11
  SPEAKER_05: So there isn't any fees involved.
• 42:12
  SPEAKER_05: I don't look at fees up front.
• 42:14
  SPEAKER_05: The first thing that I would prefer if you want to have a chat, is just list down your goals for the next six months, one year, three years, five years retirement.
• 42:23
  SPEAKER_05: Just the big goals, small goals, the car upgrades, the holidays, the fun things, the graduations, the marriages, all those good things.
• 42:33
  SPEAKER_05: So those are the things that I that that the I said to bring to your table, and then we can go ahead and put together and create a strategy.
• 42:40
  SPEAKER_02: Amazing.
• 42:41
  SPEAKER_02: Josh, thank you.
• 42:43
  SPEAKER_02: Thank you all.
• 42:44
  SPEAKER_02: Stay tuned.
• 42:46
  SPEAKER_00: Thank you for tuning in to another episode of the TFS Podcast, where we turn knowledge into action and big goals into real results.
• 42:55
  SPEAKER_00: Now, don't forget to like and subscribe and share this episode with someone working towards their next financial step.
• 43:05
  SPEAKER_00: Now, with that being said, until next time, keep building.