Latest / The Curve / Investing for Kids.

Transcript

Investing for Kids. · The Curve

0:00
Wow, okay, this is a really big episode and something that we've kind of been culminating for a while hasn't it?
0:06
Yeah, we've done a lot of content around this and a little while ago, we did...
0:12
There was a mention in the curve weekly about how Trump was giving $1,000 to children, to at least...
0:18
And that would turn into like half a million dollars when they're 65, which is crazy.
0:22
Like, game-changing, to think that you can set kids up for financial security long-term.
0:27
It's also just so clever in terms of taking the pressure off of government...
0:32
Even when having half a million dollars when they're retired. Boom, just like that.
0:35
Yeah, we chatted about this in the curve weekly.
0:38
We might just play a snippet of that conversation for anyone who missed it.
0:42
While we're talking about what's going on in America,
0:45
there is a potential new act coming out that is going to give every child $1,000 when they're born.
0:54
This is so outrageous and so cool.
0:57
And not just given, it's actually invested in the S&P 500.
1:01
So that $1,000 per child invested in the S&P 500 for 65 years.
1:06
By the time they're retirement, they would have half a million dollars.
1:09
I would love to know how many people in our audience have kids like we need to know this.
1:15
And maybe we do like a quick little survey. Can you let us know?
1:18
Do you have kids, yes or no?
1:20
And if you already do, would love to know if you're investing on behalf of your kids.
1:24
Because I think this is absolutely game-changing.
1:28
There was hundreds of people that filled in that form and it was fascinating to look at all the data.
1:32
We also had a ton of comments, people being like, I do this already.
1:36
Or you said I'd love to do that just telling us their thoughts and feelings, which was really, really great.
1:42
On that actually, any podcast that we're doing, there's been so many messages coming into our DMs.
1:48
And I actually would love to ask, for anyone who feels comfortable doing it publicly, like on the actual episode,
1:54
it's so awesome for other people to see other people's thoughts and reply to them, rather than just ask.
1:59
Because otherwise we're sort of screen-shotting, we obviously are like doing it anonymously.
2:03
But I just think these types of conversations need to be had not just between us and you,
2:08
but actually between the whole community.
2:10
So either feel free to comment on this episode wherever you're listening,
2:13
or we'll also put a link to that quiz if you want to fill it in if you didn't do it.
2:18
But essentially, we were just like inundated with people who were either doing it already, interested in learning how to do it.
2:24
There was actually some voice notes that came in.
2:28
Like a curve hotline.
2:30
And we don't often really play stuff from it, but so many cool messages have come in.
2:34
And we actually thought maybe we'll play some of them.
2:37
Okay, so this first one's from Lindsay.
2:39
Hey, Vic, and so I am a massive fan of your podcast.
2:43
I listen to it every week.
2:45
And I'm so excited when you put up the investing for kids.
2:48
If the audience does it or not, I do.
2:51
I'm super passionate about it.
2:53
And I just, and I'm obsessed by the compounding interest and over time and what that can do so much.
2:59
So I talk about it openly to my kids.
3:01
I have just had my godson was born the other day.
3:06
And as a president, I gave him an open demo for shares.
3:09
He's a count and gave him $100 and I told the parents,
3:11
I'll be doing that every birthday until he's 18.
3:14
But I've also set up a Instagram page called our kids invest.
3:19
That I'm showing my kids investment, Jennings.
3:21
We just really want to get the message out there about you start messing for your kids from a young age.
3:25
They can like you say on the clubcast could have half a million dollars or whatever it might be by the time they reach retirement.
3:30
So yes, that's super excited to leave a message for you guys.
3:34
And yeah, just keep doing what you're doing.
3:36
Like the the messaging you're putting out is just amazing.
3:39
Go Lindsay.
3:40
Car what a good.
3:41
It's so cool. Don't you think like when you record a podcast, this issue and it's just us sitting in the studio.
3:46
Like yes, you see like the numbers and you see the downloads, but hearing voices of actual people who listen.
3:52
Like the other day I was walking through London.
3:55
And this girl was walking towards me and I thought that's such a cool outfit.
3:58
Really cool outfit.
3:59
And literally she just goes the curve and I kept walking and I was like, oh my gosh.
4:03
Like everyone that interacts with this podcast, I feel I want to be friends with.
4:07
Like they're cool and lovely and interesting.
4:09
And it's just so nice to feel like someone come up to me at Greece.
4:12
Really?
4:13
And I was just in my bikini and I felt very exposed to naked.
4:16
I was like, hi, hi.
4:19
Yes, no, it is lovely.
4:21
But it was also awesome to see how many people were just interested in wanting to set their kids up for financial success.
4:30
Maybe that they hadn't had the opportunity or they now educated themselves and realised the importance of it.
4:37
Or yeah, just how much of a little bird and it can be if you do it early on.
4:42
Rather than when they're, I don't know, in their 20s and they're trying to buy a house
4:47
and they're asking for a big sum of money to help them out because properties through the roof or whatever.
4:51
I don't know.
4:52
Like it's too ridiculous to think about it because most people, I mean I know that this is a very privileged thing to say.
4:56
But a lot of people who buy property get help from their parents because it's so hard to get enough for a deposit.
5:02
But if you think, you know, you're putting in a hundred dollars or a hundred pounds or whatever every week.
5:08
And that's like 2000.
5:10
It's a lot less than giving some of 50,000 towards their house deposit.
5:13
And like Lindsay said, it's priceless, the education piece that comes along with it.
5:19
They'll eventually want to put their pocket money away and invest it because they'll see that it can grow into something else.
5:27
Rather than spend the, I don't know, just like all those conversations that come with investing money on their behalf.
5:33
Well, I mean, this is an amazing segue to read this email that came in.
5:36
This is so special.
5:38
Hi, ladies.
5:39
A long time listener.
5:40
My main motivation to sort my shit out with my finances was for me, but also so I can support my children to know and do better than me.
5:48
My six-year-old lost a tooth the other day and went off to bed with a tucked under his pillow hoping the tooth fairy would do a thing.
5:55
My total delight the next morning.
5:57
Firstly, the tooth fairy had actually remembered, she's not always that reliable.
6:01
But when I went into the bedroom and a little hand was poking out of the covers clutching a two dollars
6:07
and a sleepy little voice said, invest it mum, made me sit down there and then and supervise the transfer under his investing account.
6:14
Don't know who I was more proud of.
6:16
For me, learning this so that I can have these conversations with him or for him knowing that investing is such a good option.
6:23
Thanks for all that you're doing.
6:24
You're literally changing lives and creating an intergenerational chain of knowledge, Charlotte.
6:29
Beautiful.
6:30
I would love to know what he thinks and besting is, the little boy.
6:33
Do you know, like, if I give this money back to mum and she puts it in an account, it grows.
6:40
But like, I would love to know.
6:42
It'd be so cute to get him home.
6:44
Charlotte, if you think he'd have a really quick conversation with us or even if you want to do a little voice or recording and ask him to explain what he thinks and besting is, that would be so cute.
6:53
But yeah, so this episode, we talk about everything from like breaking it down from the beginning of thinking about how and why it's so important to invest the kids.
7:00
Whether it's your kids, whether it's God children.
7:03
Friends children.
7:05
Yeah.
7:06
I'm born children.
7:07
I mean, that's organised.
7:09
Yeah.
7:10
I haven't done this.
7:11
It's kind of, I mean, it'd be pretty amazing.
7:13
It's like a baby shower gift.
7:15
You know, like it doesn't have to be for a born human.
7:19
Yeah.
7:20
It's pretty cool.
7:21
And at the end of the episode, we go through ways to actually start besting for your kids.
7:25
Yeah.
7:26
We hope you enjoy the episode.
7:27
And please, as always, let us know how you find it.
7:29
Comment, send us a voice note on the coatline, whatever works to you.
7:33
And if you want to watch on YouTube, there is a link in the description.
7:36
And we hope you enjoy.
7:38
Yeah.
7:39
Hi, and welcome to the inside of my Lexus.
7:45
And when I say my Lexus, I can't lie, this isn't actually mine, but I've been driving it for the last five weeks.
7:52
And I can tell you that it has been the most magical time.
7:57
Now, look, for anyone who has listened to this podcast or followed the curve for a while, you will know my history with cars has been
8:05
checkered.
8:06
Let's just say I am not the most amazing driver.
8:10
I'm not normally someone that really values cars, but it is just so beautiful.
8:16
It's a really interesting thing to think about when it comes like investing in a car, right?
8:22
Like you don't want to buy something that's going to break down tomorrow.
8:24
But you also, I guess it's just you want to buy a car that is a long-term investment.
8:30
And what I've realized is Lexus is a long-term investment.
8:34
Just like you think about your stocks and wanting to pick something that's going to last the test of time that's going to stay with you for your life really,
8:44
you don't want to be buying and selling and buying and selling.
8:47
And it's just the same when it comes to cars.
8:49
You want to buy quality.
8:50
And for me, now I've been in the Lexus, I want to buy luxury.
8:53
So we have partnered with Lexus to come up with a, it's a how-to guide.
8:59
How to get yourself in a position where you are actually working towards buying a big ticket item like a Lexus
9:05
because it's not the kind of thing you can just wake up and buy.
9:08
It's not exactly an impulse purchase, like an online shopping situation.
9:11
So we would like to say thank you so much to Lexus for empowering this podcast.
9:15
We would like to say, well, I would like to say thank you for letting me drive around New Zealand
9:21
in this beautiful car and just feel confident and chic and sleek.
9:25
And I'm going to miss it a lot.
9:27
So for anyone that would like to save towards a big ticket item,
9:31
you can find the link in the podcast show notes.
9:36
This has been kind of a behind-the-scenes conversation for a while.
9:39
Yeah.
9:40
It came up with one of our advisors.
9:42
It's like, well, I don't know.
9:44
There's a lot going on in the investing space in terms of innovation and products and blah, blah, blah.
9:50
And I think this is almost like a secret hack for parents
9:54
that perhaps hasn't got enough or really any ear time.
9:58
Yeah.
9:59
And actually, even I remember years ago, it would have been like three years ago
10:03
when my goddaughter Ivy was born.
10:05
And I put up a selfie story talking about how...
10:07
So that's how you have a godson?
10:09
No, I know.
10:10
When did you get a godson?
10:11
Me, I was like saying that being like, no one wants me to be a godparent.
10:14
And like, flower man's like godparents like so many kids and like you.
10:18
And I'm like, no one's asking.
10:19
And then I got asked.
10:20
Yes, you're a godmother godson.
10:21
Yes, you're a godmother godson.
10:22
Isn't it so?
10:23
Yes.
10:24
You're so proud.
10:25
It's so hard.
10:26
It's scary.
10:27
I don't know.
10:28
I don't know.
10:29
Godparent, the whole thing was that if the parents...
10:32
What ever reason can't raise the children or like pass away,
10:36
the godparents are supposed to kind of step in.
10:38
And so there's this immense responsibility.
10:41
But as a like auntie, of course, I would step in.
10:45
I don't know, but it's kind of you've been asked to join this family.
10:49
I don't know.
10:50
It's weird.
10:51
I didn't actually realize that that was what godparents were.
10:54
And I met someone the other day who was talking about this.
10:57
And he said that he's legally, I mean, signed something.
11:00
Wow.
11:01
That means that if the parents die, he inherits three children.
11:04
He's a godparent.
11:05
He's a godparent for all three.
11:06
But yeah, I didn't realize that that was the whole point.
11:08
I definitely don't think when my best friend asked me to be a godmother that she thought.
11:15
If we die, do you know who's going to be responsible enough to look after the girls?
11:19
What if the whole family got wiped out and all it was was the lively?
11:22
I mean, look, I would sort my shirt out and be the best faux parents.
11:27
They'd be the same.
11:28
Oh, I don't even know the thought.
11:29
I know, I don't even know what to say.
11:30
But the point is, Godparents, as godparents, we're very proud, aren't we?
11:35
Yes, proud parents, proud auntie, yes.
11:39
And we have set our little humans that are important to us in our lives up with investing accounts.
11:46
I think that I am coming across as the shuhah's godmother because if I'm being totally honest
11:53
when I was a kid, the main reason I loved my godparents is because they have me presents.
11:57
It's like extra set of parents, extra presents to Christmas, extra birthday presents.
12:00
I know, but now that I'm not, because I'm not giving her things, I'm putting money in my account,
12:05
but she doesn't know it.
12:07
So I think that's fine.
12:09
You don't remember the gifts you get when you're one, two, three, four.
12:12
It impacts you more because the other one, they're not playing with your toy that you gave them.
12:17
Yeah, right, okay.
12:18
So I remember like three years ago when Ivy was born, I put a story out on socials
12:23
and I was talking about the fact that I'd set an account up for her.
12:26
And people poured in to the DMs.
12:30
I remember it being one of the things that so many people were interested in.
12:35
I think it was because not that many people had spoken about it at the time.
12:38
And you talked about how you'd done that for your niece.
12:42
I mean, if you, yeah.
12:43
And your nephew.
12:44
And then, yeah, every time we, that's right, I wrote an article on it not that long ago
12:49
and a news outlet contacted us wanting to do, like an interview.
12:53
And so anyway, all these kind of things have started happening in the behind the scenes
12:57
and it got us thinking, this is a space that we should be talking about more.
13:01
A lot of young moms that listen to this podcast.
13:04
Or people who are maybe going to be parents one day.
13:08
Yeah.
13:09
Or Godparents.
13:11
Or have friends that have got kids that are young.
13:16
Yeah, we're definitely talking to an age group of women who are raising the next generation.
13:22
Yeah.
13:23
And so with that, we were just thinking, you know, we talk about it and we do this
13:28
for our special little humans, but perhaps we should open the conversation a little bit more broadly
13:34
to speak about the importance of this.
13:36
The why behind us.
13:37
Yeah.
13:38
Yeah, definitely.
13:39
I honestly reckon it's like the most powerful and underrated thing that you could do for them.
13:45
And yes, I know they'll be like, where are my gifts?
13:48
But you're not just putting money aside for them, right?
13:51
You're also teaching them, like, to lay gratification and, you know, to appreciate that things
13:56
don't necessarily have to be tangible things.
13:59
And honestly, they will wake up when they're 18 or 21 or 25, when they've rid us
14:05
and have a pool of money and you will be instantly the favourite Godparents.
14:11
The only thing that's thinking though is like, if I think back, if I think back to me, it's a 21.
14:18
Yeah.
14:19
And my Godparents said, guess what, so here is your investment account.
14:23
Now, I can transfer it into your name.
14:25
I mean, it's kind of almost like trust fund babies, right?
14:28
When you get all of a sudden you turn off age and you get access to this family money.
14:33
And it can really derail people's relationship with money.
14:36
It can really devalue the feeling of working for money.
14:40
It can have also some bad impacts when you're giving someone giant amounts of money
14:44
and they have an earned it.
14:45
So I think there's a real education process and the lead up to that.
14:49
Yeah, yeah, yeah.
14:51
And I started talking to my niece while I tried her, she's six now
14:55
and I'm talking to her at Christmas time and at birthday being like,
14:59
when I give her a card, there's nothing in it.
15:01
You know, and my sister and I are explaining to her, she's hardly listening.
15:06
She doesn't really comprehend right now, which is fair.
15:09
But there will be maybe even one percent of what I said that will stick in the back of her little brain
15:15
and then the next year is another one.
15:17
And you start building that and at some point I would love for her
15:22
for us to actually sit down and transfer the money together
15:25
and she can buy what companies do you like or what toys do you like?
15:29
Let's buy Disney.
15:30
Let's buy Disney because you've got a Disney princess.
15:33
If you like Peppa Pig, let's see what company owns Peppa Pig.
15:38
And just like, I don't know, start those conversations
15:41
and it might not be now when she's only six.
15:43
It might be when she's, you know, nine or even,
15:46
but it's starting to sow that seed of I am giving you money
15:51
and giving you something.
15:53
It's just not a tangible thing right now.
15:56
What do you say to her?
15:57
Like, what has it evolved over the last six years?
16:00
Is she's gone up or is it the same thing?
16:02
Like, what?
16:03
Not really.
16:04
It's more of a card of like, I've put money.
16:06
And she probably just thinks it's just like money.
16:08
But then she goes, it's exciting, right?
16:10
It's birthday or Christmas.
16:11
She's got a million other toys, right?
16:13
So she's distracted.
16:14
She's like, cool, there's nothing in here.
16:16
See you later.
16:17
But it's like, don't give up.
16:19
I think it's kind of what I'm saying.
16:20
Can you give me an example of what you would say to her?
16:22
It was like, I've given you money.
16:23
I've put it into an account that it's going to grow
16:27
over time so you can have more money.
16:28
Yeah.
16:29
And she's like, bye.
16:31
There's my next doll.
16:32
I'm like, okay, in here, and I got you something
16:34
a little toad, no choice.
16:35
But yeah, it's kind of, I don't know.
16:38
Yeah, I would, I'm really excited for the day
16:40
that I can actually sit down with her and show her
16:43
and buy her something on the screen with her there.
16:46
So actually trying to make it a bit more tangible
16:48
because right now it's a card with writing
16:50
and it's kind of a read.
16:51
Do you know what I mean?
16:52
Yeah.
16:53
At what point do you think that might click for her?
16:56
Like at what age do you think they say five to ten years old
16:59
is when you start to kind of comprehend investing
17:03
or saving money growing the basics of investing.
17:07
So you mean your relationship with money
17:09
or do you mean investing?
17:10
Because those are obviously quite different.
17:12
Like is five to ten when you have a investing penny drop moment
17:15
or is it five to ten where you're starting
17:17
to establish your relationship with money in general?
17:20
Both, both, right?
17:21
And I think it starts with even doing chores
17:24
for your parents, for example.
17:28
Parents educating, okay, this is saving,
17:30
this is spending, and this is investing.
17:32
They don't need to know what that third bucket investing means.
17:36
But maybe to show them over time,
17:38
it's like, okay, if you don't touch that for a year,
17:41
then I'll double that.
17:43
You're trying to show them compound interests.
17:45
So you're trying to come up with creative ways
17:48
to educate them that if you wait and don't spend that money,
17:53
then that will eventually enter more.
17:55
Yeah, we've got some incredible podcasts on this actually.
17:59
It's amazing guests to actually explain it so well.
18:02
And one of them is raising the curve of 91.
18:05
With Beth Allen, and she was found short of street,
18:07
originally, and she spoke a lot about how she talks to her kids
18:10
about money.
18:11
It was really, really interesting.
18:12
And had to go and get a boring job.
18:14
And I, um, ice cream parlour in Linmore,
18:16
in Auckland, on $5.50 now,
18:18
in order to have my pocket money.
18:20
Um, so anyway, they took all the money off me,
18:22
and thank God they did,
18:23
because then I had a passport when I was like 19.
18:25
And how has that stemmed into the way that you,
18:28
because you've got kids?
18:29
How do you talk to them about money now?
18:31
Yeah, I think we've been quite deliberate that we've decided that
18:34
their money, their pocket money,
18:35
which they get a dollar through the age they are.
18:37
So the three-year-old gets $3, the five-year-old gets $5.
18:40
So that money is not contingent on anything,
18:42
like that's just their money,
18:43
so they don't have to do jobs for it or anything.
18:45
And that's just the way we've decided to do it.
18:47
We give them half of it,
18:48
so they have half of it,
18:50
and it goes into their bank account.
18:51
And I'll take half of it,
18:52
and I put it into Shazies, basically,
18:53
so they have a little investing account
18:55
on Shazies I bought on my phone,
18:57
and they have an automatic buy every month of,
19:00
I mean, it's like $5.
19:01
It's not a lot, but they have,
19:02
I've chosen funds for them.
19:04
And then $3, they get to keep,
19:05
and it just stays in their bank account,
19:06
and then they can spend that,
19:07
how they want to spend it.
19:08
That was one of our,
19:09
I was a really like popular episode.
19:11
Yeah.
19:12
Definitely go back and listen,
19:13
and then the other one was actually only a couple of months ago
19:16
in March,
19:17
and it's called Do Financial Opposites Attract.
19:20
And this was with a husband and wife,
19:23
Karissa and Tim,
19:24
who are both financial advisors,
19:27
and the way that they deal with money with their kids,
19:30
was like, honestly, quite revolutionary,
19:32
like it's game-changing,
19:33
how they talk about it.
19:34
So we both firmly believe
19:36
that kids should buy their own technology
19:38
and their own first car.
19:39
So when Monty first got IPAD,
19:42
he created a business,
19:44
Monty's Delights,
19:45
and he saw Ginger Crunch.
19:46
We paid for the,
19:47
we charged him for the ingredients,
19:49
and he enterprise over four weekends
19:51
and had $600 to buy his own IPAD.
19:54
It's so cool.
19:55
He never dropped it.
19:56
Never broke it.
19:57
So we have really cheap.
19:58
We pay our kids $5 a week,
20:00
and for that, they...
20:01
Oh, I feel like saving for an IPAD.
20:03
No, no.
20:04
No, no.
20:05
Wait, wait, wait.
20:06
I'll get out of here.
20:07
I'll get out of here.
20:08
You're going to be saving a long,
20:09
working a long time.
20:10
But for that $5,
20:11
they are expected to make their bed.
20:14
They have turns at doing the dishwasher.
20:16
They have the basic jobs.
20:17
Recycling.
20:18
Recycling.
20:19
So they're motivated to do something for money.
20:22
They're not giving it,
20:23
as in like,
20:24
you're allowances this for nothing.
20:25
We also had Victoria
20:27
divine from...
20:28
Actually, that's right.
20:29
She was like,
20:30
Oh, my God.
20:31
She was like, I'm going to tax my children.
20:32
And everyone was like, what?
20:33
That's right.
20:34
Family tax.
20:35
Family tax.
20:36
Once my kids are at an age
20:37
where they are able to earn pocket money,
20:40
they can earn pocket money,
20:41
but say they get $10 a week.
20:44
We will be contributing 25%.
20:46
Two family tax,
20:47
which means they need to...
20:49
They will be given their $10,
20:50
and they need to break it up,
20:52
pay their $2.50 in family tax.
20:54
Yeah.
20:55
And they will put that in a jar.
20:57
At the end of a quote tax time,
20:59
that might be, you know,
21:01
every three months,
21:02
because they're little,
21:03
and that's actually the early period of time for them.
21:05
We as a family are going to sit down
21:07
and talk about what that money
21:09
is going to buy for the family.
21:11
Oh, so clever.
21:13
We might put a bit of family tax money in,
21:15
so it's like, you know, maybe like $100 or like a little bit more,
21:19
so that like it's a substantial amount of money
21:22
for a young child to make decisions about.
21:24
And then we're going to say,
21:25
does our house need anything?
21:27
Like, do we need to upgrade anything?
21:29
The kids might be like,
21:30
oh, we really need a new TV,
21:31
or we really want this,
21:32
has to benefit everyone, though.
21:34
Or are we going to, you know,
21:36
spend our family tax on the family?
21:38
Are we going to go to the zoo?
21:40
Are we going to do something about that?
21:42
So I think that getting kids to understand
21:44
the concept of tax early is really important,
21:46
because we live in countries
21:48
where we pay tax.
21:49
And when I was 14 years and nine months
21:51
and got my first job legally here in Australia,
21:54
I didn't understand that.
21:55
I was so confused.
21:56
Why do I pay tax?
21:57
What does that go towards?
21:58
How does that work?
21:59
So for me, I will do that because it's not just tax.
22:03
It's like that group decision making.
22:05
It's thinking about others.
22:06
It's being able to make a decision around money
22:08
that doesn't just impact you.
22:10
And a lot of people were like,
22:11
your kids shouldn't be paying.
22:13
I just totally disagree,
22:14
because I think now when I think about tax,
22:17
it feels like a fake thing I have to pay
22:19
that I'm like, surely I can avoid this.
22:20
Like honestly, that's what I think.
22:22
Because you never grow up with that being normal.
22:25
So all of a sudden,
22:26
this random tax that you've never known as a thing,
22:29
it's a really foreign concept.
22:31
I think the earlier you can introduce concepts about money,
22:35
like don't just spend it all,
22:37
as in you automate it for them.
22:39
So the money comes into their account from there,
22:41
cleaning the car.
22:43
A third of it's their spending money.
22:45
A third of it goes to their short term goals.
22:47
A third of it goes towards the long term.
22:49
It takes to them that even though you do a task for,
22:52
I don't know, it might be $20.
22:55
It doesn't go, you don't have to be able to spend.
22:57
You don't have to be able to spend.
22:58
You don't have to be able to spend.
22:59
You've got obligations, you've got other things
23:00
you should be saving for.
23:01
You've got other money you need to put aside for the future.
23:04
Yeah, it's like, because that is the reality of life.
23:07
Your salary might be $100,000.
23:11
That doesn't come into your bank account.
23:13
You don't have to spend.
23:15
Do you know what I mean?
23:16
It doesn't come into your bank account.
23:17
You don't even have that much to spend
23:18
because you've got other commitments.
23:20
It's just, yeah.
23:21
I actually remember I accepted a job in Sydney.
23:24
It was when I had worked in New Zealand at the age of three years.
23:28
It was my only first job really.
23:30
And then I was offered this job in Australia
23:32
and the pay was so much better, like almost double.
23:35
Yeah.
23:36
And I remember just being app,
23:38
so locally, gobsmacked and over the moon
23:40
and just like honestly, it was nearly double.
23:42
Maybe it was.
23:43
Anyway, I then found out that this was the total package.
23:46
So it was including things like super.
23:48
Yeah.
23:49
I eat your pension, holiday fund, whatever.
23:51
It wasn't taking tax out.
23:52
So I was comparing this total amount that I thought that I was getting.
23:56
And I remember going back to the person who hired me.
23:59
This is so embarrassing.
24:00
You got it wrong.
24:01
No, I was saying I'm not happy with that.
24:03
I want 80,000 as my what I'm getting.
24:07
That's what I thought I was accepting.
24:09
And he was like, well, that's not my fault that you fully accepted.
24:13
Accepted the offer and had no idea.
24:15
Because in Australia, you're super as actually a ginormous portion.
24:19
It's like 10 to 10.
24:20
Yeah.
24:21
It's huge.
24:22
So I was like, oh, this isn't even that much of a pay jump.
24:24
The sucks.
24:25
Yeah.
24:26
I guess the argument for an employer though,
24:27
I was like, that's.
24:28
Oh, I know.
24:29
You're still getting that.
24:30
Like it's part of your, it's just, yeah.
24:32
But I think education around that, okay,
24:34
you're not actually getting that top of the seat now.
24:36
You can't pay for groceries with it.
24:39
But that in itself, right?
24:40
It's like the lack of knowledge from me in terms of accepting the job is one thing.
24:45
Like the total lack of awareness of how your total pay is broken down into
24:50
you don't get it all in your account is one thing.
24:53
But yeah, even the idea of like, oh, no,
24:55
but you do actually get that money.
24:56
It's just that you don't get it for.
24:58
I didn't even know that.
24:59
So I sat you down and they were like, look,
25:01
so this is whatever it was, say, 80,000.
25:04
And then you're minus, this is your super, then you minus this.
25:07
And you minus this.
25:08
So this will be what you get every month.
25:10
Like how helpful.
25:11
Like they, they, they, they, they personally don't do that because it's like 80 grand.
25:15
And it's exactly what happened to you.
25:16
You're like, oh, my God, amazing.
25:18
You know, and then there's $2,000 in your account.
25:20
Like we actually get a thousand dollars a month.
25:23
But that's exactly the thing, right?
25:25
It's like because as a young kid,
25:27
I never really wasn't choosing the idea of investing.
25:29
Even when I found out that it was going into my super.
25:32
Yeah.
25:33
Now I know.
25:34
That's 12% of my pay that's automatically saved and invested.
25:37
Great.
25:38
Awesome.
25:39
Yeah.
25:40
I'd be stoked.
25:41
But I wasn't.
25:42
I thought I would never see that money.
25:43
Yeah.
25:44
I thought it was like a tax that I would never, I couldn't, I honestly, I was probably,
25:45
have you heard of that money?
25:46
Yeah.
25:47
Yeah.
25:48
Unfortunately, I did a stupid thing with that money.
25:49
Oh, you took it out.
25:50
Yeah.
25:51
Yeah.
25:52
Yeah.
25:53
I think it was about $40,000.
25:54
Oh, I was kicking myself.
25:56
I didn't do that.
25:57
But now I'm like, so good you didn't.
25:59
Yeah.
26:00
I took it out.
26:01
And then I,
26:02
sorry, I couldn't, I've transferred it to New Zealand.
26:04
I'm sorry.
26:05
I spent it.
26:06
I'm pretty sure.
26:07
But I just got back from New Zealand.
26:08
I was like in the middle of not working.
26:10
I was like kind of such a confusing time as well.
26:12
It was just so stupid.
26:13
But like, I think with this whole investing for kids thing, the reason it is so important
26:18
to talk about now is we have it so much tougher than our parents.
26:25
And I know people like,
26:27
like tiny violin.
26:30
But like economically we do, right?
26:33
Things were so different when our parents were young.
26:37
Like homes were way more affordable.
26:40
Like student debt was way lower.
26:42
And like interest free for longer.
26:44
Like the pressure just to have all your shit sorted right now at this age just was not there.
26:53
I think also younger generations are starting to take more responsibility for the things they don't know.
26:58
Like I would almost say the millennial generation is the, I mean, this is not backed by like any research.
27:05
Yeah.
27:06
The worst off financially because our parents had access to houses at a really like not terrifying multiple on your salary.
27:15
Yeah.
27:16
For millennials it's so much more intense.
27:19
But then I think Gen Z have like sorted their shit out early.
27:23
And so many of them have made hits money through crypto.
27:26
Like I know that that's a small percentage.
27:28
Yeah.
27:29
But my point is like,
27:30
they're aware that they need to be more schooled with money.
27:34
And I'm making more of an effort to learn about it, I think.
27:37
I think we were at that age.
27:38
I think we were at that age.
27:39
For education, like our parents didn't have the education.
27:41
But they had the, I guess, ability, right?
27:44
But my parents came to London and you, the exchange rate was you earn like three,
27:48
I mean you earn three times your salary and you send it back and you can then get set up by house.
27:53
As kids, you know, whereas now it's like you come over here you're like,
27:56
oh, I'm just kind of making ends meet and you go back and you know,
27:59
it's just not, it's just not same.
28:01
But they didn't have the education, but they had, you know,
28:03
the world was a lot easier financially.
28:05
Then you've got us who are like, help.
28:08
We, you know, we kind of things are really tough.
28:12
But we kind of don't have the education either, but we're getting there.
28:15
And then you've got the education from the younger one.
28:18
So I'm hoping that if you have the education, you know,
28:21
if I just put away a small amount now,
28:24
it is going to mean I'm going to be in a much better financial position when I'm older.
28:27
Whereas I feel like we're in the middle of this limbo.
28:30
Like, dammit, we should have done it.
28:32
I know.
28:33
Has the ship sailed?
28:34
No, you're all good.
28:35
It's kind of taking off the dock though.
28:37
So hurry up.
28:38
Jump on the boat right now.
28:39
Yeah, you're so right.
28:40
Yeah.
28:41
But I think...
28:42
But we've still got time.
28:43
It's kind of what I'm saying, right?
28:44
We still have time to sort our shit out.
28:47
I think the more that we've spoken about investing and the importance of it,
28:51
the more that we've realised, you know,
28:53
and this probably comes down to the different generations that listen to the curve
28:57
or interact with the brand.
28:58
But the time is your secret weapon.
29:00
Yeah.
29:01
So whilst, you know, you might be 13 having never invested.
29:05
You still have 30 years to where you're going to probably stop working.
29:08
So you have time to make money in the stock market or in other investments.
29:11
But I think imagine if you did it from one being one or two,
29:16
like our God children.
29:18
Imagine the advantage they have,
29:20
comparatively to other kids.
29:21
Well, you'd be here now.
29:23
You'd be like, oh, cool.
29:24
Wow.
29:25
I've got money for house deposit.
29:26
Awesome.
29:27
You wouldn't be going, oh gosh, you know, everyone's buying houses
29:30
and I didn't get my A into G or like,
29:32
or if you have really incredible supportive parents, Godparents,
29:36
aunties, uncles that have actually thought about that for you
29:40
and you weren't even thinking about it, you know, like how incredible.
29:43
And I think it doesn't have to be a lot either.
29:46
Like we're saying here, oh yeah, well, that's well and good
29:49
if you've got rich Godparents or rich aunties and uncles.
29:52
No, it doesn't have to be a lot at all.
29:54
That's the beauty of time and the beauty of compound interest
29:57
is that you can put away small amounts and it turns into a lot.
30:02
That's amazing.
30:03
It's really interesting because I was at a brewery the other day
30:06
told me to someone about this.
30:08
It was a friend who had recently found out they were pregnant.
30:12
And I said something like, you know, would you invest when they're born?
30:17
And she said, yeah, it's something we've actually been talking about.
30:20
And she said, but I would want that to be in my name
30:23
so that if I needed the money, I could pull it out.
30:26
And I was like, I think that people still think
30:29
it's quite a decent amount that they would need to be investing.
30:32
And therefore it's money they would miss
30:34
and therefore it's money that they would want to access if they needed it.
30:37
But what we're saying is like small amounts often
30:39
so that you don't notice it.
30:41
It's not like you're stretching yourself hugely
30:43
to invest for your kid or you've got a parent or whatever.
30:46
It's that you're putting small amounts that is, yeah,
30:49
even $20 a week from now.
30:51
It reminds me of like the cash I used to get from my grandma
30:53
in a birthday card.
30:54
Yeah.
30:55
You know, like $20 of money.
30:56
It's like you just put that away into a investing account
31:01
and that $20 is going to turn into like $200.
31:04
You know, this would be so, so much better.
31:07
But I've got some questions I want to ask you.
31:09
So what would you have done with 10,000 pounds
31:12
if you were gifted at 18?
31:14
If you had really switched on,
31:16
Godparents, aunties, uncles, and they'd been investing
31:19
and then you had 10,000 pounds when you turned 18?
31:22
I think it, this is going to sound really cliché,
31:24
but I think you're honest.
31:25
Be honest, yeah.
31:26
I was going to say I think it would depend on the context
31:28
with the education I'd been given.
31:29
If I'm taking myself at 18 knowing what I was like at 18,
31:33
I would have spent it on clothes, food,
31:37
random, a new phone.
31:39
Yeah.
31:40
Because I did really stupid shit,
31:42
like I took out money from the government
31:44
which you can get as a student in New Zealand
31:46
and I would have spent it on a new phone.
31:47
Yeah.
31:48
Of course, related costs went on a new iPhone.
31:50
So me at that age, 18 even, God,
31:54
I'm thinking more like 21, but 18.
31:57
Just the $10,000 would be so much money at 18.
32:01
I think I would have spent it on anything of value.
32:05
Yeah.
32:06
If I think back to my actual self, what would you have done?
32:08
Maybe it's not 18, right?
32:10
When you get this money in your account.
32:11
True.
32:12
Maybe it has to be 21 or 25.
32:14
Like you can decide that it's not automatically in their name.
32:19
What about you?
32:21
Or maybe it's an education piece, right?
32:22
And it's like, okay, you're going to sit down with them at 18
32:24
and be like, you can take half of this out, the other half,
32:26
if you keep this in, or you can take it all out,
32:28
or if you keep half in, I'll double it.
32:30
Or something, you know, like you can make it,
32:32
they can gain a fire.
32:33
Yeah.
32:34
Just make it a bit more, because they will still be learning.
32:36
Like we're all still kind of learning the delay gratification, right?
32:40
I remember 18.
32:41
I remember I was working my little bottom off.
32:45
Yes, you were a completely different age in your own university.
32:48
And I remember all my pay from my cafe job was going to my parents
32:54
to pay for my student combination, everything.
32:57
So I would have probably put that and been like, yeah,
33:01
I don't have to work as much or I can work,
33:03
and that can be my spending money.
33:04
I think you had the most unique upbringing when it comes to money,
33:07
like the fact that that was just wrong.
33:09
I would have spent something.
33:10
No, no, but I think...
33:11
I probably would have told my parents there's actually only 8,000.
33:14
And...
33:16
Hit on the rest.
33:17
I would have hit and they'd be like, oh, it's only 8,000.
33:19
So I'll give that to you.
33:21
And then just gone shopping.
33:22
They would have been like, where's that new, yeah,
33:24
where's that new file, those new shoes.
33:26
But I think even the fact that...
33:28
Or it would have bought a car.
33:29
Yeah, I probably would have bought a car.
33:31
My friends were cars that their parents had bought them.
33:34
And my parents couldn't afford to buy my car.
33:36
So I was like, yeah, man.
33:37
That's not a...
33:38
Yeah.
33:39
No, I know that's not a very good.
33:40
But I...
33:41
No, sorry.
33:42
My point here as though is that...
33:43
I think it's probably too young.
33:45
Well, yeah, yeah, yeah.
33:46
Maybe 18 is too young.
33:47
Because I think when you haven't had to earn your own money,
33:50
like you had, but I think unless you have the concept
33:54
of how hard it is to get money,
33:56
if you're just giving it without having to work for it,
33:59
I think that it completely derails
34:01
what you're trying to teach them.
34:02
Yes.
34:03
It's almost like gifting them.
34:04
Yeah.
34:05
Shit loads of money, which I don't think would help.
34:08
Which is why there has to be an education piece with this, right?
34:10
It has to be, if you're giving them money,
34:12
sitting down with them, explaining what you're actually doing.
34:15
I'm not just giving you cash.
34:17
I'm putting this away to grow.
34:19
And look, if you want to contribute to,
34:21
we can grow double the rate.
34:23
Do you know what I mean?
34:24
It's that kind of, I'm going to buy you shares in Nike.
34:27
Why don't you buy shares in Nike?
34:29
So I'll get them to kind of, I feel like it's all,
34:32
you almost want to reward them for the timings in there.
34:37
So every time they choose to leave it,
34:39
rather than take it out, you give them more.
34:41
Or whatever you take out, I'm going to take out too.
34:44
Imagine.
34:45
That's quite good.
34:46
If you take 1,000, I'm taking 1,000.
34:47
I'll be like, oh no, no, no, no, no, no, no, no, no, no,
34:49
I'll be like, don't worry, I'll keep it all in there.
34:52
There's actually, yes, I like the law.
34:54
If you could go back and invest one birthday gift
34:56
from your childhood, what would it be?
34:58
What do you mean by that?
34:59
Sorry, if you could invest one,
35:01
the monetary value of one of your gifts.
35:04
Oh, okay.
35:05
Can it be not really young,
35:07
because I don't remember anything from my childhood?
35:09
Could it be a 21-year-old present?
35:10
Yeah, yeah, yeah.
35:11
I was given, which obviously I lost,
35:13
by my godmother, a Tiffany and co-heart necklace,
35:17
you know, a slanted one.
35:19
Well, I've lost it.
35:21
So I would have put that money into the soul market.
35:23
Got you.
35:24
I don't even know how much that would have been worth,
35:26
or what, that's a very generous gift.
35:27
That's exactly what I mean.
35:29
That's why I think I'm coming across as a shit godmother
35:31
because I'm not giving her a cool shit.
35:33
Oh, no, you are.
35:34
You are, you are, you are.
35:35
I'm not.
35:36
But do you know what I mean?
35:37
Like, as if from her.
35:38
You're giving her the gift of education and time,
35:40
which is priceless.
35:41
I thought the point here was you were going to maybe tell me
35:43
how much that would be if I'd invested it rather than kept it.
35:47
Oh my god, okay, this is actually so tragic.
35:49
Well, it's not tragic.
35:50
It is insane that I was given this for my 21st.
35:55
430 pounds.
35:57
So like nearly 1,000 New Zealand.
35:59
So if I'd invested that,
36:01
28, 29, 30,000.
36:02
So that's 15 years ago.
36:04
So you would have had about $2,000.
36:07
2,000 pounds.
36:12
I rent my 21st.
36:14
I got offers.
36:17
My parents were like, look,
36:19
we can throw you a 21st birthday party,
36:21
which would probably cost a couple of thousand
36:23
because it was like alcohol and that marquee.
36:25
And like it was quite nice here in your parties.
36:28
Or we can give you the money.
36:30
No.
36:31
And you can put it towards traveling
36:33
or put it towards places.
36:34
And I was like, I want the party.
36:40
And I just want to go back and hit yourself.
36:42
Like, I look at that.
36:44
And like everybody was having 21st.
36:46
I was just like a sea of another 21st.
36:48
Just go to someone else's birthday.
36:49
Even if it's not there and got drunk.
36:50
Like nobody remembers my birthday.
36:53
I remember getting an argument with my dad
36:54
because I wanted to go to town at like 2 a.m.
36:56
And he was like, absolutely not.
36:57
You don't just say it.
36:58
Oh my god.
37:00
And just being drunk and hung over the next day.
37:02
Yeah, I'm anyway.
37:04
I tried to keep thinking,
37:06
but it was great.
37:07
It was amazing.
37:08
Anyway.
37:09
I was like, yeah, taking a money,
37:11
going traveling or, you know,
37:13
and had a big 25th or something saved up.
37:15
But even the fact that you were given options of,
37:19
do you want the thing or do you want the money?
37:21
I probably just, my parents were like,
37:23
we thought we thought we'd talk to something.
37:25
But like, even just having the thought,
37:27
like I just don't think I,
37:29
my parents taught me so many amazing things.
37:31
So many amazing things.
37:33
And honestly, they tried to teach me about money.
37:35
I feel really bad when I talk about the idea
37:37
that I didn't learn a lot about money when I was younger.
37:39
Because it feels like I'm blaming them.
37:41
But they didn't know.
37:42
And I also think there's so many things to teach your kids.
37:45
Right?
37:46
It's like parents might just be like,
37:48
I'm just trying to keep them alive.
37:50
Can you not?
37:51
Yeah.
37:52
Can you not?
37:53
Yeah.
37:54
Yeah.
37:55
But it's got to be an element of like,
37:57
school's taking responsibility.
37:58
Totally.
37:59
Yeah.
38:00
So true.
38:01
Yeah, I never remember a conversation or a question
38:03
where it was ever, do you want this or that?
38:05
Or will invest this or you know?
38:06
I mean, honestly, the only thing that I think about
38:09
with delayed gratification about my childhood
38:11
was trickle-treat time, Halloween.
38:14
And I got all these lollies.
38:16
Like, it was a disgusting amount of candy.
38:19
And I put it in the downstairs fridge.
38:21
My sister ate all of it on the day.
38:23
And I kept mine down there.
38:24
And I would go and have like, a lollia day.
38:26
Which honestly, I'm like, the self-control is insane.
38:29
I haven't mentioned doing that now.
38:30
But it all went moldy.
38:32
So I had to throw it out.
38:33
Oh.
38:34
And so like, the idea of holding on to it actually
38:37
was not the one.
38:38
Oh, I definitely would have eaten a whole bit.
38:39
I tried.
38:40
And bombeted.
38:41
And then still not that medicine.
38:43
But I want to talk through the power of investing early.
38:45
Because it's like, we're all sitting here going,
38:48
yeah, yeah, cool.
38:49
Invest early investor, that's great.
38:51
You know, $20, $200, $200.
38:53
If you put 100 pounds per birthday in Christmas.
38:56
So just twice a year.
38:57
So 200 pounds a year.
38:59
That's about 4,000 pounds invested over 18 years.
39:04
If we say maybe an 8% return just to be moderate here.
39:09
That's about 11,000 pounds when you're 18.
39:14
That is so much money.
39:16
Which is a lot like a very, very helpful for university,
39:20
for putting money towards a first house,
39:23
to paying for a car, a holiday.
39:25
Like all these milestone things that you want to experience
39:28
when you're 18, right?
39:29
There's got to be a balance of, yeah.
39:32
Do you know what?
39:33
I think like as, you know, 30 early, 30-year-old woman,
39:38
well, you're late 30s now aren't you?
39:41
Are you technically late 30s?
39:42
Yeah.
39:43
Sorry, it didn't mean to really throw that shade.
39:45
I think a lot of us, even early 20s,
39:49
you start approaching kind of the 30 mark
39:52
and all of a sudden within the space of three years,
39:55
people are buying houses, having a wedding,
39:58
gold forbid, having babies.
40:01
But like the three of the most expensive life shifts ever,
40:06
and it happens all at once.
40:07
And I think, for ages, I've been thinking about the idea
40:10
of like, how can we help people not get to that point
40:12
and then all of a sudden realize they don't have the money
40:14
to do it?
40:15
Because there's no way people are doing that
40:17
without parents help.
40:18
Like sorry, but you're not having a big, beautiful wedding
40:21
without your parents paying for a lot of that.
40:23
Yeah.
40:24
Sorry if that's like judgemental, but I think there's just no way
40:28
people have that much money to buying houses,
40:32
are wedding and kids, when you've not invested
40:35
or had any money up until that point.
40:37
It's like how can we change that narrative
40:40
and help people earlier?
40:41
And I really think this is the answer.
40:43
Yeah.
40:44
Well like back in the day, the average house price
40:46
was about three times the average income.
40:49
It is now eight times the average income.
40:52
So what you're saying is 100% correct.
40:54
It's like these things are so unaffordable now,
40:57
everyone's still doing them or still has the pressure
41:00
of having to do them and do them all at once
41:03
and all in the space of, you know, I don't know,
41:05
15 years, it's so not achievable.
41:09
No.
41:10
If you haven't invested for a long time.
41:12
Yeah.
41:13
And I guess the reason we, one of the reasons
41:16
we're also talking about this is like Trump,
41:18
God, everything that he's done, which is a lot of bad things.
41:22
He's done one good thing, which is these Trump accounts,
41:26
which is putting $1,000 into accounts for kids in the US.
41:33
And they invest that, it stays there to their 65
41:36
and it turns into, will not to their 65,
41:38
but if they left it in there to their 65,
41:40
it would be half a million dollars.
41:43
It's so clever.
41:44
It's just like, that is the magic.
41:47
So if we put $1,000 into our God children's account
41:50
when they were born.
41:51
Yeah.
41:52
It would turn into half a million by the time they're 65.
41:54
Yeah.
41:55
I've got to find $1,000 and just do it once and leave it there.
41:58
But once they have access to it.
42:01
Yeah.
42:02
But maybe that's the thing.
42:03
They're not allowed to touch it.
42:04
And they just actually never get it until they're 65.
42:06
Yeah.
42:07
That's so much money.
42:08
I know.
42:09
And that's the thing because it's such a long time.
42:11
Yeah.
42:12
I hate to think what the world looks like in 65.
42:14
I know in 65 years time.
42:15
God, especially with Trump and power.
42:17
I mean, yeah, he'll probably take this money and run with it.
42:19
But no, he won't.
42:20
He's not allowed to.
42:22
But yes, that is, I guess, the beauty of compound interest, right?
42:26
It's like the longer that you leave it in there.
42:28
So it's like, how do we give these kids that have the time money?
42:33
Because they don't have money.
42:34
They've just been born.
42:35
Lots of them.
42:36
They're tiny.
42:37
You know, say, how do they've got the time?
42:39
So I reckon I should like lobby the government.
42:41
Yeah.
42:42
lobby all the governments.
42:43
Like we just should just like, I don't know.
42:45
Come up with some real jazzy marketing campaign.
42:48
Yeah.
42:49
And we're going to do something about it because how amazing would that be?
42:52
Imagine if when you were born, the government just put, it would be nothing to them.
42:56
$1,000.
42:57
Yeah.
42:58
You could kind of flag the whole lifestyle.
43:00
Or start out with a hundred, right?
43:01
Like it doesn't have to be a hundred.
43:02
Start with a hundred.
43:03
No, I think we go full.
43:04
We go full.
43:05
We go full.
43:06
Yeah.
43:07
Because you're solving the idea of people needing up in poverty.
43:09
Yeah.
43:10
You're solving the issue of, you'd have to pay this pension.
43:13
Yeah.
43:14
It's almost like a whole new pension scheme basically.
43:16
Yeah.
43:17
The baby pension.
43:19
Yeah.
43:20
Come up with a bit.
43:21
Look at all people's pension.
43:23
Yeah.
43:24
So why don't we talk about if people want to start this for their niece and if you child,
43:32
the best way to do it?
43:33
Because you don't even need to understand.
43:36
This is the first curve episode you've ever listened to.
43:39
And you're like, I want to do it.
43:40
And you're like, I want to do it.
43:41
Fine.
43:42
You don't even honestly need to think about this because it's going to be in there for so long.
43:46
Yeah.
43:47
That you don't need to make any other decisions.
43:49
It's like almost forget about it.
43:50
Honestly put it in and think it never happened.
43:52
Yeah.
43:53
Amnesia.
43:54
Amnesia.
43:55
I just remember.
43:56
That means forgetting about things, right?
43:57
Isn't that a...
43:58
Am I thinking of it as a sugar club?
43:59
No, that's a dessert.
44:00
A what?
44:01
A super club.
44:02
And a buffet.
44:03
Amnesia.
44:04
I've got to figure out if I've got this word right.
44:06
One moment.
44:07
Loss of memories.
44:08
Yeah.
44:09
Okay, great.
44:10
Including facts, information, experiences.
44:11
Perfect.
44:12
You want amnesia.
44:13
You want amnesia.
44:14
Yeah.
44:15
You want to put it in there and forget about it.
44:18
Or set up an automated payment and forget about it.
44:20
So the platforms that make it really easy to do this in New Zealand is in Australia as
44:25
Shazies.
44:26
Shazies in New Zealand has kids' accounts.
44:28
And it's held in the parents' name.
44:30
And in Australia.
44:31
Yeah, in Australia as well.
44:32
Yeah.
44:33
So Shazies in Australia in New Zealand.
44:34
Yeah, you can make certain rules whether they get them in the 18, whether they're 25, whatever.
44:38
That's what I've used.
44:40
Me too.
44:41
Yeah.
44:42
Yeah.
44:43
I did the exact same thing.
44:44
And for anyone listening, there was like, what is that gibberish?
44:50
It is the top 500 companies in the US.
44:53
And you can do it through buying like a ETF, which is an exchange-traded fund.
44:58
If you just search in Shazies.
45:00
S and P 500.
45:01
Super easy.
45:02
Super easy.
45:03
I mean, I just did that because the whole point here is I'm buying and leaving it.
45:07
Yeah.
45:08
I don't need to be making any fancy decisions or like buying and selling.
45:13
And also, I'm not going to be adding money in when the market's down.
45:16
Like this is a gifting thing for me, like twice a year.
45:19
You can also set up like a Kiwi saver.
45:22
So like a pension for them when they're younger.
45:25
Can you do that in the UK and Australia for Super?
45:28
Yeah.
45:29
You really?
45:30
Sorry, not pension.
45:31
You can do like a...
45:32
There's different structures.
45:33
Like a cancer or something.
45:34
Yeah, it's like it's called a gycer.
45:35
Oh, it's like a junior-ycer.
45:37
And they get up to I think it's 4,000, 4,000 pounds or 9,000 pounds a year tax-free.
45:45
So yeah, there's initiatives in each country because you also what you don't want is to be like
45:50
putting $100 or pounds in there and then it gets eaten way by fees.
45:56
Do you know what I mean?
45:57
And they're like, hang on.
45:58
You're trying to educate them that money grows and then it's like, yeah.
46:01
So it's like they do, you do want to.
46:03
And also for all these platforms getting kids on early, it's like a bank, right?
46:07
Yeah.
46:08
You get on, you're happy with it, you kind of stick around.
46:10
True.
46:11
So there's sticky customers.
46:13
They're very sticky customers.
46:14
As people would say.
46:15
Yes.
46:16
Also look for accounts that kind of lead to you do automatic investments.
46:21
Because you don't want to wake up and be like, oh my gosh.
46:25
I did the first three years of Little Johnny's life.
46:29
And then I forgot the remaining 15.
46:32
Which actually is fair because like, yeah.
46:34
Amnesia could kick in and you could.
46:36
And then you're not educating anyone and you're going into financial stress.
46:40
Yeah.
46:41
Not your life.
46:42
Just to automate.
46:43
So easy.
46:44
And I don't know.
46:45
Maybe however old they are.
46:47
You know, it's like the one you give them 100.
46:49
When they're two, you give them 200.
46:50
Oh no.
46:51
Wow.
46:52
I mean, $15.
46:53
$10.
46:54
$20.
46:55
Yeah.
46:56
I think that's, that's great.
46:57
But you know, it's you, but essentially you want to have that as a function where
47:00
if you're picking your kids account.
47:02
Yeah.
47:03
And the key thing though is to educate alongside it.
47:06
As soon as they're old enough, start having those conversations.
47:09
And it will be younger than you realize.
47:11
You know, just start talking to them.
47:13
Start showing them.
47:14
Bring it up on the screen and be like, hey, they'll see their name.
47:17
They'll be like, oh my gosh.
47:18
Like, you know, start showing them what you've bought them.
47:20
And it's gone from here to here.
47:22
And just talk to them until they get bored and go off and do something else.
47:26
If you have any other questions about this conversation,
47:28
you'd want to have more investing for kids content.
47:31
We would love to hear, like, we're going to put maybe a poll or a question underneath this
47:35
episode, wherever you're listening, like, whatever platform you're on,
47:38
if you're able to vote on the poll or comment, please do,
47:41
because it's really helpful for us to know if people want to learn more about this kind of thing.
47:45
And I think it's like, you don't have to be wealthy, right?
47:48
It's like, it's not about the money.
47:50
It's not about the amount of money.
47:51
It's the fact that you are giving them time.
47:54
You're giving them that time that they wouldn't normally have had.
47:57
And I think that's really important.
47:59
You're giving them the education and the time.
48:01
It's not, oh gosh, but I don't have enough.
48:03
It's like, even a dollar is going to be so helpful for them.
48:07
It's just the intention.
48:08
Yeah.
48:09
It's the intention behind what you're trying to teach them,
48:11
which is delayed gratification and the idea that...
48:13
And you found it quite surprising, right?
48:15
And you found it quite surprising, right?
48:16
But that you sent the Curve Instagram group.
48:18
And it was from Warren Buffen,
48:20
it said, if you don't learn to invest your work till the day you die.
48:22
Yeah.
48:23
It was essentially the idea that, like, you can make money in your sleep
48:26
if you learn to invest.
48:27
Yeah.
48:28
If you rely on your salary or the pay coming in,
48:30
you're going to be relying on that your whole life.
48:33
Whereas the whole point of investing is that you can step back
48:35
and let money work.
48:36
Work, work, keep.
48:37
And literally make money on itself.
48:39
If you don't find a way to make money while you sleep,
48:41
you'll work till you die.
48:42
Yeah, it's so powerful.
48:43
It's so powerful.
48:44
Yeah.
48:45
And you're basically on that point only.
48:46
You don't have to be a millionaire or, like, putting much money in.
48:48
But it's the intention.
48:50
So if you are putting money aside for them
48:52
and you're teaching them this from a young age,
48:54
the advantage that you're giving them.
48:56
Yeah.
48:57
On what we had at 30, all of a sudden scrounging around
49:00
trying to figure out what the hell are stockers.
49:02
Like, it's amazing.
49:03
Yeah.
49:04
Like, you're putting in, if you're putting in $100,
49:06
that $100 makes.
49:08
It turns into $110.
49:09
You've made $10 while you sleep.
49:11
Do you know what I mean?
49:12
I love babies.
49:13
Yeah.
49:14
I want to help all the babies.
49:15
Yeah.
49:16
Is that creepy?
49:17
Yeah, that's kind of creepy.
49:18
Next thing we're turning into, like, a crash.
49:21
And I'm just playing with them.
49:23
Yeah, you're just playing with them.
49:25
But yes, it's the intention.
49:26
It's not the dollar amount.
49:27
And I think that's really important.
49:28
Because a lot of...
49:29
You're right.
49:30
We're talking to an audience.
49:31
We're...
49:32
There's a lot already struggling to address for themselves.
49:34
We just spoke about houses, marriage.
49:36
Yeah.
49:37
And then now we're saying,
49:38
and your kids' future, they're like,
49:40
oh my gosh, I'm just trying to pay for diapers.
49:41
Yeah, yeah, yeah.
49:42
I get it.
49:43
It's...
49:44
There's a lot.
49:45
But it doesn't have to be a lot.
49:46
It doesn't have to be a lot.
49:47
Yeah.
49:48
It doesn't have to be a lot.
49:49
It doesn't have to be a lot.
49:50
And we'll work on the whole
49:51
lobbying the government front for you.
49:53
Yes.
49:54
You can just find
49:55
$20 or 20 pounds a week.
49:57
Go to the kids.
49:59
Go to the kids.
50:00
I can...
50:01
Imagine the generation of curve kids.
50:03
Curve kids.
50:04
Ah.
50:05
Love it.
50:06
Yeah.
50:07
I feel a product idea.
50:08
Curve kids.
50:09
Curve kids.
50:10
I love that.
50:11
I really enjoy that episode.
50:13
And I think if you are listening,
50:15
and you're a mum,
50:16
or you're a godmother,
50:17
and you know other mums
50:19
that maybe haven't considered this,
50:20
please share this episode with them.
50:22
Because I think we never really
50:24
ask that enough audience.
50:25
But it's not only going to benefit them.
50:27
It also helps us reach new people,
50:29
and helps them learn how important
50:31
and like,
50:32
easier to just set up once and
50:34
forget about it.
50:35
And the enormous impact it's going to have on their
50:37
their kids or, you know, other
50:39
little baby humans that they love's life.
50:41
I'm excited for the day
50:42
that my niece and nephew and my
50:43
son, like,
50:44
actually,
50:45
the penny drops for them.
50:46
Yeah.
50:47
I think it's going to be like
50:48
white,
50:49
like a monumentous moment.
50:51
You better film it.
50:52
I know.
50:53
Yeah.
50:54
Like their first steps, you know.
50:55
And then we're like,
50:56
No, you better get it.
50:57
First and second.
50:58
Yeah.
50:59
Anyway, thank you.
51:00
Okay, bye.
51:01
Thank you so much for listening
51:02
to Raising the Curve.
51:03
These conversations are designed
51:04
to teach you everything you need to know
51:05
to be better with your money,
51:06
from saving to investing,
51:07
to talking with your friends
51:08
about your salaries,
51:09
or that stuff.
51:10
And if you like what you heard,
51:11
we would love
51:12
you to please hit subscribe
51:13
wherever you're listening,
51:14
and leave a comment,
51:15
let us know what you thought
51:16
about the episode.
51:17
And it only takes one second,
51:18
and it would really make our
51:20
week a month, our year.
51:21
Yeah.
51:22
Yeah.
51:23
So please do it.
51:24
Okay.
51:25
Bye.
51:26
Okay, quickly,
51:27
the curve was created to empower
51:28
and educate you about investing,
51:29
but we are not financial advisors.
51:31
Our platform exists for educational purposes only,
51:33
and it doesn't provide
51:34
personalized investing advice
51:36
for your individual needs,
51:37
and should not be relied upon
51:38
to make an investment
51:39
or financial decision.
51:41
And always remember to do your own research
51:43
before making any investment
51:44
or financial decision.
51:45
We're here for any knowledge
51:46
and support you need,
51:47
but the final call is always yours.
51:49
And thanks for being here.
51:50
You got this.
51:51
Yeah.
51:52
We know you got this.