June 29, 2025 • 49 mins
Ever wondered what it’s really like to chase your dreams in the Big Apple? In this week's ep, we’re cracking open a glam, gritty, and oh-so-real money diary straight from New York City, featuring an Aussie expat who’s living the dream… and navigating all the money stuff that comes with it. Working as a headhunter in NYC, she’s juggling Manhattan rent, 401ks, and a mortgage back home she shares with her siblings. Oh, and she’s got a seriously genius strategy for staying stylish in the city without blowing the budget. It’s the NYC hustle, with an Aussie twist.
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Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name's Tatasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya
Niana Kaka yah y and beIN ah Waka Nian our
gay In Mbina, yakarum jar Dominyama, Domagahawakaman, damon Imlan Bomber
bang Gadabomba in and now in wakah ghana on yak
rum jar Watnadaa. Hello, beautiful friends, we gather on the
(00:24):
lands of the Aboriginal people. We thank acknowledge and respect
the Abiginal people's land that we're gathering on today. Take
pleasure in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:44):
She's on the Money.
Speaker 3 (00:46):
She's on the Money.
Speaker 4 (01:07):
Hello, and welcome to She's on the Money, the podcast
that lets you be really pervy about other people's money
habits educational purposes of course. Welcome back to another one
of our money diaries where I get the absolute privilege
of talking with one of our incredible She's on the
Money community members all about their journey. Let's jump straight
into it, because this week I got an email and
(01:28):
it sounded exactly like this, Dear, she's on the money.
I've proudly been listening to your show since day one,
and before the podcast, I had no financial literacy at all.
I've been through redundancy working in the disability space and
had to move back home during COVID. After that, on
the advice from my mentor, I made a career pivot
into people consulting. I also own one third of an
(01:50):
apartment with my brothers because it was the only way
I could get into the market at the time. It's
not always easy, but I'm glad I did it. Fast
forward to today, live in New York after transferring with
an American company. This means my finances are a bit
all over the place. Five bank accounts, A for U,
one K Ozzie super A, mortgage back home, and tax
in both countries. Money, Darrist, Welcome to the show. This
(02:14):
is actually going to be so fun.
Speaker 2 (02:16):
Thanks for having me.
Speaker 4 (02:17):
I'm very excited. New York is so fancy. How long
have you been there?
Speaker 5 (02:23):
Yeah, so, I've been in New York for three years now,
just over three years.
Speaker 4 (02:26):
Oh, that's so exciting. And I mean, you did say
that your finances might be a little bit all over
the place. If I asked you to give yourself a
money grade from A through to F, what grade would
you give yourself?
Speaker 5 (02:37):
I think I give myself a BUS. I've learned a
lot over the last few years. I've learnt a lot
from listening to the podcast. I'm pretty proud of what
I've done, but I still think there's a lot to
learn and grow from. And I think that I'd like
to clean up my finances a little bit.
Speaker 4 (02:52):
Love love, love love. Tell me a bit more about
your money story and your money journey, because you've gone
from like being in Australia to now in the US
for the last three years. Tell me about all of that.
And I need to know, like what's the future going
to hold?
Speaker 5 (03:05):
Yeah, so I think, you know, just to go back
to how I was raised and brought up.
Speaker 2 (03:10):
I grew up with, you know, very middle class family.
Speaker 5 (03:13):
My mother has always been so intensely you know, money savvy.
She's been a scrimper and a saver her whole life.
My dad, on the other hand, is a fairly risky
person with money. I think he's always had his own business,
maybe not had that much of a security mentality towards money.
He grew up a little wealthier than she did, and
(03:35):
so I don't think he cared or thought as much about,
you know, what life would look like if he didn't
have any money. And I think I definitely more take
after my mum. I think that I'm more kind of
more risk averse with money. I'm definitely a scrimper and
a saver. I always have been. I would save my
pocket money. I saved you know, money from birthday presents
for my whole life, and so I think I definitely
(03:57):
had that mentality, and that's kind of the way I've
been brought up up. I think the thing that made
it hard for me was I'm quite a kind of
structured type aid person, and when I was made redundant,
not once, but twice in three years, it definitely kind
of made me feel like I was never going to
achieve my money goals. I've moved for jobs twice in
(04:19):
my life. I moved from Sydney to Melbourne. I moved
from from Sydney to New York for work. It was
a massive concern for me in moving here that that
would be a really scary thing to do, and that
I wouldn't necessarily be able to be able to afford it.
I don't have any security for my family. I fully
financially am responsible for myself, and so yeah, I mean,
(04:40):
I think my attitude towards money now is that this
podcast more generally, and listening to this podcast as well
as some other kind of financial literacy that I've learned
over the last kind of seven years, has really taught
me how powerful it is to be financially independent and
how good I feel when I save money, when I
I'm able to travel, I'm able to contribute to you know,
(05:03):
I live with my partner, I'm able to contribute to
our rent in our life, and that we can go
on holidays and we can do everything that we want
to do and we can still save for kind of
our big money goals. So I think I've come a
long way from when I first started in my career
and when I first started saving money to now where
you know, I'm pretty comfortable. I know, I'm comfortable, I'm happy. Yeah,
I guess that's kind of my attitude towards money.
Speaker 4 (05:24):
I love that I feel like that's such a big
goal for so many people to just be like, look,
I'm comfortable and I'm happy, like that is iconic, especially
right now when everything is so damn expensive. It's so
expensive here in Australia, but I can't imagine what it's
like in the US. I remember when I was in
New York. I just found everything astronomical. Like I was
(05:45):
consistently being like, sorry, what, Like, my goodness.
Speaker 2 (05:48):
It's crazy.
Speaker 5 (05:50):
Like I could not even my friends at home when
I tell them, you know how much rent we pay,
or even going out grocery bills, whether it's buying a
cocktail in a bar or going grocery shopping or getting
an uber it's like double the price of Australia.
Speaker 2 (06:07):
I don't convert anymore.
Speaker 5 (06:09):
It just like pains me and it hits my heart
so hard when I try to convert back to Australian dollars.
Speaker 4 (06:13):
Yeah, you're just blocking it out. You're like, oh, my goodness.
Speaker 5 (06:16):
Yeah, but I was recently calculating how much rent I
pay and what mortgage we could afford to pay in
Australia and that made me sick to my stomach.
Speaker 4 (06:28):
Yeah, and like it's so hard, but you're also we
had someone on the show a couple of weeks ago actually,
who was based in San Francisco, And I know you
listened to that because we're just talking about it off
air and she was saying the same thing, just like
it's so expensive, i'd no longer convert. But you're also
like kind of paying for a lifestyle and paying for
the experience, Like you wouldn't want to or I don't
(06:50):
think you would want to take that away, because yes,
you could come back to Australia and pay a different mortgage,
but like, look at the life experience you're getting. Look
at like the things that you're doing. I just I'm
in such or of people who are able to do
this because I'm such a conservative person. Like as much
as you know I've started businesses and done all of this,
I've always done it, like I would say, while feeling
(07:10):
relatively secure in the country I grew up in, Like
going to the US is a completely different ballgame. I
want to know you mentioned before, like being made redundant
twice in three years. That's rude. Like I think that's
quite rude. I feel like you should be getting like
a hall pass or something where someone's like, oh, sorry, no,
we can't make her redundant. She actually got made redundant
(07:31):
once before, Like that wouldn't be very nice for her ego,
So we shouldn't be doing that. Talk to me about
like not just rebuilding from that, because I feel like
you get a bit of a financial hit because obviously
you're out of work, you're trying to find a new job,
but like the ego hit and just feeling like is
this me, Like did that hit your confidence in the
(07:52):
way that I assume it might have.
Speaker 2 (07:54):
Oh, my gosh, totally, I think.
Speaker 5 (07:56):
You know, the first time it happened, it was my
first job, when I was six months into that job,
and the organization it was a disability organization, and they
just didn't have the money and they didn't have really
that they weren't mature enough to be able to have
me on staff full time. I was their first kind
of full time employee. And the first time that happened,
I was like, I'm never going to get another job,
(08:18):
I'm never going to be able to afford what I want.
I'm going to have to move home, you know, like completely,
just a horrible feeling. And then for that to happen
kind of two years later, right when I start my
third job in my career. I was like, is it
something what's wrong with me?
Speaker 2 (08:34):
Is it me? Yeah?
Speaker 5 (08:36):
And what am I doing wrong that's making this happen.
I've always thought I was a good worker. I've always
thought i'd work hard. I always go kind of above
and beyond. I'm never just someone who like clocks off
at five and leaves.
Speaker 2 (08:47):
And it was the worst feeling ever.
Speaker 5 (08:50):
Hilariously, the company that made me redundant the second time
I now work for in.
Speaker 4 (08:56):
New York, You're like, bet you didn't see me coming back.
Speaker 5 (09:01):
They essentially like helped me relocate to New York and
they paid my relocation.
Speaker 4 (09:05):
They moved me here, my goodness.
Speaker 5 (09:07):
So it kind of makes me think that, you know,
everything happens for a reason, you know, it doesn't feel
that way, And I hate when it happened.
Speaker 2 (09:14):
I hated everyone that would say that to me.
Speaker 5 (09:15):
I hated everyone that would be like, it doesn't happen
for a reason, you know, like I have no money,
I'm gonna have to move back to my parents' house,
like I have nothing. But now years past that, I
think business is business, right, and it's not personal, and
it's not your fault and you're going to find another
job where you're going to find a different career path.
And had those things not happen to me, I wouldn't
(09:37):
have been where I am today. I wouldn't be sitting
here in New York with my partner who's American, living
this life literally looking out onto the city. I would
just probably be in a really different place with my life.
Not saying that, Like money is the bell on it
all and gives you everything, but I think it's afforded
me a lot of It's your freedom.
Speaker 4 (09:55):
It gives you a lot of freedom and choice and
ability to I don't know. I get quite frustrated when
people say things like, oh, money doesn't buy happiness, and
I'm like, yeah, but like it does create unhappiness when
you don't have enough of it, And like we all
know the research says, like there's a cap of a
certain amount of money where you don't get happier the
(10:15):
more you earn. And that's fine, but like when you're
in financial distress, when you're being made redundant, when you
think that you're not going to have an income or
you're going to be able to achieve any financial goals, Yeah,
I'm sorry. Money makes me really happy, Like money makes
me feel really secure, and being secure is actually a
good thing.
Speaker 2 (10:31):
And I feel that way.
Speaker 5 (10:31):
I mean, I think about the people that can't afford
to go buy groceries, and I think, you know, yeah,
that is a terrible feeling. I've been in that position before,
a lot of people have been in that position before,
and it feels horrible and that is a really unhappy place.
So to even have the luxury of being able to
go and buy groceries every week and not feel like
(10:53):
you can't put food on the table for you or
your family, you know, that gives somewhat of happiness. How
you get from there to like being extraordinarily wealthy. I
don't think that much happiness carries.
Speaker 2 (11:03):
Along with it.
Speaker 4 (11:04):
No, absolutely not. It's kind of like I would actually
like us older just have the bare minimum, Like can
we all just be able to put food on the table,
not go into debt to do that, and feel like
we can be safe and happy and have a roof
over our head and pay for our electricity. Like I
just feel like that's the bare minimum and we should
be working towards that. Talk to me about work. So
(11:25):
you've moved over to America, it's is so fancy you
transferred with and did you say it was American company?
Speaker 2 (11:34):
Yes?
Speaker 4 (11:34):
Like it was the company you worked for over here,
got made redundant from and have gone back to. So
talk me through that. What do you do for work?
How much do you earn? How on earth do you
get someone who's like, you know what money DRIs will
pay for you to travel to the other side of
the world. Like that's cool.
Speaker 5 (11:49):
Yeah, well it probably makes sense to start with how
I was made redundant from this company as an American company,
they have a very small presence in Australia. I work
as an executive search consultant. So basically what we do
is essentially help companies. Some people call it a headhunter.
Basically hire executives like CEOs for big companies around the world.
(12:12):
We also kind of do another bit of work, which
is leadership and consulting services to businesses. So when you think,
you know, the culture of a company is really bad,
we might come in and build a better culture for
the business or create a plan for CEO succession. I
was major redundant from that job. I then moved to
a different company and I was there for three years.
(12:33):
While I was at that other company, A previous company
kept calling me saying, hey, we'd love you to come back.
Speaker 2 (12:39):
I think you should come back. We've got a job
opening for you.
Speaker 4 (12:42):
And you're like, but you did me a dirty the
first time. I would have been really apprehensive.
Speaker 2 (12:47):
And eventually I was like, can I come back? But
in New York?
Speaker 5 (12:51):
And they saw it as this long term The industry
is very small in Australia, so they saw it as
this long term you know, we bring you back, maybe
you'll come back to it Australia down the track.
Speaker 4 (13:01):
Ha ha ha. Smart from them, but also strategic from you.
Speaker 2 (13:04):
Yeah.
Speaker 5 (13:04):
And so they introduced me to the business in New
York and essentially I ended up moving over with the
business three years after I was made redundant from that
same company.
Speaker 4 (13:13):
Wow. And so what do you get paid if you're
in executive search?
Speaker 2 (13:18):
So it's funny.
Speaker 5 (13:19):
When I moved over from Australia to New York, my
salary did not change one bit.
Speaker 2 (13:25):
It was the same.
Speaker 5 (13:25):
It was one hundred and thirty thousand Australian dollars to
one hundred and thirty thousand US dollars.
Speaker 4 (13:30):
Excuse me, just.
Speaker 5 (13:31):
The same amount. And now I've been promoted over the
last three years.
Speaker 4 (13:35):
Wait. Sorry, so you went from one hundred and thirty
Australian dollars to one hundred and thirty American dollars. Does
that mean you kind of basically doubled almost double dur income.
Speaker 2 (13:44):
Yeah.
Speaker 4 (13:45):
So at the time, we're just like skimming across the
fact that there's currency conversion here.
Speaker 2 (13:49):
Guys.
Speaker 4 (13:50):
Yeah, I was like, hold on, hold on, that's like
a really good deal.
Speaker 5 (13:53):
I ignore currency conversion because everything costs the exact same
in the US in US dollars as it does in Australia.
So at the time, when I got that pay and
I was like, I'm going to earn one hundred and
thirty thousand base and then we get kind of a
cash bonus, I thought I'd like made it. I was like,
this is amazing, this is the best thing that could
ever happen to me, and it is. It's incredible. But
(14:15):
then you move here and everything costs the same, if
not more, in US dollars in New York, and you think,
actually it was kind of ends up being less money
at the end of the day that you kind of
come homework.
Speaker 4 (14:28):
Yeah, that's crazy because you've basically gone from having one
hundred and thirty grand Australian to two hundred thousand Australian,
which is like the currency conversion there, which is fine,
but like having experienced it, having you know, done lots
of research into this space, like everything is astronomically more expensive.
I remember one of my favorite things when I travel
(14:50):
money Durst is to go to the groceries store close
to like where we're staying and just like have a
bit of a wonder round see what the prices on
things are. And obviously, like I don't know, when you
move to a you probably did this. American grocery stores
are so fun. It's like a wonderland. They have so
much more stuff than you could ever imagine. Like why
are there pop tarts? Why is there a whole? I
(15:11):
al feel like pop tart? What are you talking about? Anyway,
I had it. That's fun, but it was insane how
much things were. Like I thought we were crazy in
Australia in America, unhinged.
Speaker 2 (15:22):
It's crazy. Actually, it's so funny.
Speaker 5 (15:25):
We came back to Australia recently for a visit and
my partner both of us were like, it's really it
feels quite cheap here for us, Like everything was discounted,
everything about like forty percent off the price just because
of the US dollar.
Speaker 2 (15:37):
But I know that's not the case.
Speaker 5 (15:39):
Like my family's still there, and I know people are
really struggling, So I'm not coming from a place without
that perception.
Speaker 4 (15:45):
No, But it's just our experience. I think that's the
beauty of money diaries, right, Like we get the opportunity
to share your experience so that other people can learn
from it, because it's so beautiful to be like, oh,
my goodness, like you're on the other side of the
world and you're sharing all of your like money secrets
basically with us. It's not because you don't get it.
It's just we're all in different situations and that, to
(16:06):
me is really cool.
Speaker 5 (16:07):
And I should say I was promoted last year, so
my total package now I have a base salary of
one hundred and fifty thousand US dollars and then I
earn this bonus, which is a cash bonus annually. It's
very weirdly calculated. I have no clue how they decide
how much it is. Last year it was fifty thousand dollars,
(16:28):
so just one time a year, you get fifty thousand
dollars in your bank account.
Speaker 2 (16:31):
Why, it's a bit crazy.
Speaker 4 (16:33):
And what does tax on that look like?
Speaker 2 (16:35):
Oh like fifty percent?
Speaker 4 (16:36):
Fifty percent, jeez, Louise. So now you're earning like two
hundred USD which is about three hundred thousand Australian dollars.
That's crazy. But also you're probably like Victoria to live
in New York. That's a bare minimum.
Speaker 2 (16:49):
Yeah.
Speaker 5 (16:50):
And then on top of that, which is kind of
an interesting piece that they do in the US, they
don't in Australia, but it's something called profit sharing. So
if the company performs well and profits, then the employees
get a small portion of those profits based on how
much they earn. So it's based on a base salary.
(17:10):
It's a percentage of the profits. So I think last
year that added up to about fifteen percent on top
of my base salary. That goes straight into the equivalent
of my superannuation.
Speaker 2 (17:21):
So my fourah one k.
Speaker 5 (17:23):
Yeah, crazy, which is a great system. It's a private company,
so they can kind of do whatever they want.
Speaker 4 (17:28):
So talk to me about having gone from the Australian
system where we have superannuation to having a four oh
one case. So for those of you falling along at
home in Australia, superannuation is government mandated in Australia, but
there's no system like that in America. It's kind of
would you say, it's like voluntary. So some companies engage
(17:50):
with it. You can contribute to it, like it's a
good idea, but it's not something that they absolutely have
to pay like they do in Australia.
Speaker 2 (17:57):
Yeah, that's totally right. I actually the system.
Speaker 5 (18:00):
I think it's a terrible system, and I think it's
really disadvantages people that are living paycheck to paycheck.
Speaker 2 (18:07):
And I wish it wasn't the case.
Speaker 5 (18:09):
I really struggled when I moved here with figuring out
the tax on a four oh one K if I
wanted to take it back to Australia. I was deciding
whether it would even be worth me having a four
oh one K, or if I should just continually contribute
to my own superannuation in Australia. But a lot of
companies do a process called matching, so if you put
(18:30):
in three percent of your pay, they'll put in three percent.
My company, actually, I don't think has the best matching program.
You put in six percent and they will match three percent,
so they'll match half of the six percent, right, Yeah,
it's really strange. So in totally if you put in
six percent, they'll add three percent and that takes it
(18:53):
to nine percent. But because they do that profit sharing,
my company ends up giving me more in my four
oh one K then I would get in my super
in Australia because they add I think it's like last
year was fifteen percent profit sharing into my four o
one K at the end of the year.
Speaker 4 (19:10):
Yeah, and I think it's interesting. And if you are
about to ask you about this actually, but if you
ever do booth back to Australia, something that I would
recommend is talking to an expat financial advisor, so someone
who really specializes in Americans or Australian citizens who have
lived abroad who are coming back. And I've got a
great recommendation if anybody needs one. But it's so important
(19:33):
to work out what that looks like because there are
a lot of like us and then Australian tax implications,
because the Australian tax system doesn't recognize the four oh
one K as a tax advantaged account, but obviously in
America it is, and there's like lots of different strategies
and how to get it back into Australia basically, but
the ATO sometimes and I'm not an accountant so I
(19:56):
can't give advice on these. Is just interesting to know.
Sometimes the ATO might actually look at you pulling money
out of your for a one k's income and then
try and tax it at your marginal tax rate, which
you go, well, hold on like it was taxed on
the way in. But that was the US system, not
the Australian system. So I have seen situations where people
(20:16):
move back to Australia still have their for a one
ks for life and then just have withdrawals over time.
I've also seen people completely extinguish them and bring them
all back into Australia and put them into their subernuation system.
So it's completely up to you. But that's one hundred
percent something I would be getting very specialized advice on, because,
as you said before, it's a lot of money. But
(20:38):
then also the tax implications. Tax rates are so high
in the US but also so high in Australia that
you just don't want to make the wrong move.
Speaker 5 (20:46):
Yeah, it's crazy, And actually I got advice before I
left and the advice that I got this was not
formal advice. This was from a friend and he said,
don't put any money into your fur A one k
if you can avoid it, because it's such a headache.
You'll get to tacks a huge amount when you bring
it back to Australia. But then I couldn't part with
the idea that my company would then be not contributing
(21:07):
anything exactly.
Speaker 4 (21:09):
And it's like, well, they're going to give me free money.
I can work this out later down the track. And
there's definitely a way to work it out, I promise.
It's just more complex, unfortunately, and it might be about
drawing down certain amounts or even maybe holding American investments
for the rest of your life. Like there's a lot
of ways around it. And I think that it sounds
a lot more intimidating than the reality of it, because
(21:31):
even if you live in Australia, having American assets is
not the end of the world. We've got the Internet.
It's almost like you and I are hanging out on
the Internet truly right now in different countries and having
a chat. So like, I feel like sometimes it feels
more complex than it actually ends up being. So tell
me about the future, Like, are you ever coming back
to Australia, you said before, and they need to know
(21:51):
how you met that, Like you said before, My American
partner and I live together, So how's that going to work?
Speaker 5 (21:59):
Well, it's so funny. He came to Australia for the
first time maybe a few months ago. He is in
love with Australia. He loves it. He wants to move tomorrow.
If it was up to him, we'd be moving tomorrow.
Speaker 2 (22:11):
Oh my heart.
Speaker 4 (22:12):
I kind of love that because you're like in the
good position where you're like, I'm living, loving, loving in
New York. But if I ever want to move home,
that's not going to be an issue.
Speaker 5 (22:20):
Yeah, And I guess I was worried about that. I've
always been very clear with people I was dating when
I moved here about the fact that I'm going to
move back at some point. That's always been clear. I'm
not having a family. I cannot raise a family in
the US away from my family. My brother just had
a baby, and thinking about having a family and raising
them away from my cousins or their cousins is not
(22:43):
really an option for me.
Speaker 4 (22:44):
It becomes so important, right It's such a funny conversation actually,
and I interviewed and you listen to it, and probably
everyone listening to this episode of Money Dari's heard our
interview with the woman who moved over for her husband's
job in tech in San Francisco, and so I went home.
It was funny because my husband has a very similar
career path to hers, and I say, oh, my gosh, Steve, like,
(23:05):
you could move to San Francisco and you could do
all of this stuff, and he was like, no, I
would never have my kids in the US, like I
don't want to bring kids up in the US. I
don't want to bring kids up away from my family.
And I was kind of like, oh, that was just
like a fun thing to discuss because it was, you know,
similar to your career. And then I was like, hold on,
that must be a massive consideration. What was it like
when your brother had a baby and you're just not
(23:26):
in the country.
Speaker 2 (23:27):
It's been really tough.
Speaker 5 (23:29):
So when my brother had a baby, I was thinking,
oh my gosh, how could I possibly be so far
away from my niece. And then I thought about, you know,
when my other sibling has a baby, what that might
look like, and thinking about those cousins growing up together
around the corner from each other, and me being so
far away and my kids potentially growing up so far
(23:51):
away just didn't really feel like a possibility for me.
Speaker 4 (23:54):
Yep, totally.
Speaker 5 (23:55):
And then thinking about that, my partner's family is all
pretty disperse around the country. Americans all, I guess Americans
are probably better than Australian.
Speaker 4 (24:04):
They're wild, are they. They just live in different states
and think it's easy, And so there's.
Speaker 5 (24:08):
Not one central sort of home for his family. And
so because of that, I think they're all more open
to kind of moving to different cities in the US.
And then he came to Australia. He loved how much
nature there was, he loved how outdoors we were, he
loved my family, and I think that kind of made
things a little bit easier for him on actually potentially moving.
(24:30):
And so he's like, now he's looking for jobs in Australia,
he wants to move. Now I'm the one that's thinking,
kind of career wise, it probably makes sense for me
to stay a few more years, get a few more promotions,
and then and then go back.
Speaker 4 (24:41):
Yeah, one hundred percent, because I'm assuming that your space
you said before is relatively niche, like executive search in Australia,
I would assume is not as large as it is
in the US. So what could that mean for your
career down the track.
Speaker 5 (24:54):
I think it's certainly there is options in Australia, there's
just a.
Speaker 2 (24:58):
Lot less option.
Speaker 5 (25:00):
So it'd be better for me to kind of stay
here and get promoted and then eventually move back to
Australia in a more senior role because it's so small
in Australia, there just isn't a lot of room for promotion.
There's not a lot of room for growth. And when
you think about it, if you just think practically, most
of my clients are like ASX one hundred equivalent companies
like NASDAQ one hundred, big companies, and they just aren't
(25:24):
as many of them in Australia. And so when you're
working with smaller companies.
Speaker 2 (25:28):
It's smaller roles. It's not that it's not important, it's
just not as much what we do in our job.
Speaker 4 (25:34):
Yeah, one hundred percent, I'm assuming that your type of role.
When you find somebody through executive search, there's a whole
pr release about who's going to be the new head
of this company, and then it's like, yes, there are
lots of CEO roles in Australia, but they're not you know,
listed companies that are always chopping and changing. There's just
so much more business that happens in the US.
Speaker 2 (25:54):
Yeah.
Speaker 5 (25:55):
And also when you think about what we do, a
lot of the time a company would hire us to
do that work because they owe it to their shareholders
that they are not just finding one person that could
do the job, but they are being diligent enough to
look at every market, every sector, every industry in the
world and find the best possible person in the world
(26:17):
that could do that job. And just internally, they can't
do it themselves, they need to hire us to do that.
Speaker 4 (26:23):
No, and you do that day in, day out, So
it makes sense to go to the professionals for that.
And I mean looking at the way that a board
would look at that as well. Having somebody who's an
external feels a lot more secure than you know, being
accused of something happening inside or a friend being promoted
or whatnot. It just makes a lot more sense when
there's a lot more at stake.
Speaker 2 (26:43):
Yeah, absolutely, absolutely.
Speaker 4 (26:45):
So tell me about this idea of moving home with
your partner one, How did you meet your partner? Like,
did you meet in New York? Did you meet before
you moved? Did you meet at work? Like I need
to know the boss.
Speaker 2 (26:56):
Actually, it's so funny.
Speaker 5 (26:57):
So one of my friends that I met in Australia,
he had been on exchange in Australia and we lived
in dorms next to each other when we were at
UNI together. He moved back, he's American, moved back to
the US and he invited me to come to a
brunch one day and he said, my friend is visiting
from out of town, and I come to that brunch.
(27:18):
It's just me my friend, And that's how I met
my partner. He was the other person at the brunch.
Speaker 4 (27:23):
Was he just matchmaking you?
Speaker 2 (27:24):
Actually, I don't know if he was matchmaking me.
Speaker 4 (27:27):
Maybe he was, but it was just like unintentionally worked.
He became the third wheel.
Speaker 5 (27:32):
And he didn't live in New York at the time,
so we dated long distance for a year and then
eventually I.
Speaker 2 (27:37):
Convinced him to move to New York.
Speaker 5 (27:39):
That certainly hasn't been a dream of his to live here,
but he's really happy in nol and so he moved
to New York about a year ago and we've been
living together for a year.
Speaker 4 (27:48):
That's so sweet. I love asking people about their love stories.
I know it's a money podcast, but I'm always like, so,
how did you meet? What's going on? Like that is
so sweet? All right, tell me what are your big
money goals? Like you were mentioning before for like, life's
really expensive, but you do have a pretty good income.
So what are you saving for? What are we working towards?
Speaker 5 (28:05):
So I think that you know, there's smaller money goals
like holidays, visits back home, things like that, and then
I think our big money goal is eventually my partner
and I would want to move back to Australia, and
like everyone would love to buy a house. A house
might be ambitious in Sydney. It feels pretty far away
(28:25):
to actually be able to do that right now. So
we're trying to kind of save as much USD as
we possibly can because I think the exchange rate would
really help us out.
Speaker 4 (28:34):
The exchange rate is going to definitely help you out.
Speaker 5 (28:36):
I'm envious, like I'd said earlier, Like ironically, I was
looking at kind of what the mortgage repayments would be
on a one point five million dollar property in Sydney.
Speaker 4 (28:46):
It would have been less than your rent.
Speaker 2 (28:47):
That's less than what we're paying in rent.
Speaker 4 (28:49):
Yeah, yeah, you'd be fine, You'll be absolutely fine. It's astronomical.
You're going to live large when you move home.
Speaker 2 (28:55):
Yeah, we just have to save because otherwise than you're
not living large. Because if we don't.
Speaker 5 (28:58):
Save money now, then you know we're going to be
paid in Australian dollars, that we're going to be paid
accordingly in Australian dollars. So it's thinking about kind of
how do we maximize the time we have and live
here rather than move back straight away. And the best
way to maximize that is save us dollars as much
as we can.
Speaker 4 (29:15):
Yeah, absolutely, it is money dice. Let's go to a
really quick break because on the flip side, I'm going
to ask a little bit more about your four oh
one K and I want to talk about investments and
best and worse money habits. So guys don't go anywhere,
all right, money dis We are back and we were
talking about your four oh one k before, but we
(29:36):
didn't dive further into maybe what you hold inside your
four oh one k. Talk to me about investment. Are
you investing, If so, in what how are you making
decisions around your four oh one K?
Speaker 2 (29:48):
So, yes, I'm investing. I have a four oh one K.
Speaker 5 (29:52):
There's about sixty thousand US dollars in it at the moment,
which actually feels quite significant.
Speaker 2 (29:57):
If I've only been here three years.
Speaker 5 (29:58):
That's honestly impressive, so impressive, And honestly, I have only
been putting the minimum myself. I only put in six
percent myself. It's just the extra that's added from the company. Honestly,
I don't really know how it works. It seems to
be way more than I expect in there. Some of
it is unvested, so that means that I have to
work here for a number of more years before the
money can pay out, but only a small portion I think.
(30:21):
I look today, it's like fifty thousand is vested and
sixty thousand is the total amount.
Speaker 2 (30:26):
Yeah. Cool.
Speaker 4 (30:27):
That makes you feel a little bit more secure because
you're not feeling like you're I guess, hamstrung to a company.
In case you're like, oh, I decided one day that
this isn't for me anymore, but I have to stay
because like one hundred thousand dollars is in the lurch
like ten grand. Yes, it's a lot of money, but
like if push came to shove, it's not the end
of the world.
Speaker 2 (30:44):
Yeah, and then I have a super.
Speaker 5 (30:46):
My life, my investments are very complicated, So.
Speaker 2 (30:51):
I have a super in Australia.
Speaker 5 (30:53):
I think there's about fifty thousand dollars in it, which
actually probably doesn't seem like as much given how long
I've been working.
Speaker 2 (30:59):
It's not as high as it could be. So it's
nice to have the four o one K.
Speaker 4 (31:03):
Yeah, one hundred percent. And so when you get your
four oh one k, a four oh one K works,
let's just for simplicity's sake, A four oh one K
works very similarly to a superannuation fund, so it's basically
a tax structure. And then inside your fro one k
you would pick investments. Have you gotten a company to
do that for you or have you just gone and
(31:24):
been like, all right, I'm just going to pick like
an index fund and all my money goes in there,
Like what are you doing?
Speaker 2 (31:29):
From that side of things? So I think in the US, actually.
Speaker 5 (31:32):
It's the company picks which company they use. So my
company picks which company they use. To monitor it, and
then I can decide on how the investments are run.
Speaker 2 (31:44):
So I have kind of.
Speaker 5 (31:45):
Forty percent in a Vanguard Targeted Returns, I have twenty
one percent in a Vanguard MidCap Growth. I have twenty
percent in JP Morgan large cap, and then nineteen percent
in the Russell thousand index. So I picked how those
were positioned.
Speaker 2 (32:02):
Which is kind of similar.
Speaker 5 (32:03):
I know in superannuation, I also could pick whether I
wanted high growth, low risk, what sort of profile, whether
I wanted sustainable investments. So it's kind of similar, but
you don't get to pick which company use. The firm
picked twitch company I use.
Speaker 4 (32:18):
Yeah, And I find that so interesting because it's always
like you want full control, but then you also still
don't have full control. It's all very convoluted over there.
Tell me a bit more. Are you investing outside of
your four one K and your super or is that
not something that you're doing at the moment, Like what
are your thoughts?
Speaker 5 (32:35):
Yeah, so I invest, I invest. This is another My
life is very complicated. But essentially, when I first moved here,
I thought maybe I could invest in the US. It
turns out that I cannot do that because I am
not a permanent resident. I'm on an E three visa,
which is an Australian specific visa for the US, which
means you are not a permanent resident and you don't
(32:55):
wish to be a permanent resident. So I initially started
investing in the USA and then realized I could not
do that.
Speaker 4 (33:01):
Naughty, naughty.
Speaker 2 (33:04):
So now all of.
Speaker 5 (33:05):
My investments I have to transfer any savings back to
Australia in Australian dollars, and I use my Australian investment account,
so I invest in Australia. I have about seventy five
thousand dollars in that investment account in Australia.
Speaker 2 (33:18):
Oh look at you go?
Speaker 4 (33:19):
And how did you decide on what investments to pick
in Australia? Like that kind of makes sense, and I
kind of if I put my ex financial advice I on.
That makes me quite happy because I know you've got
like a good nest egg coming home too, right, And
we don't have to worry about the tax on that
because all of that's sorted. How did you pick the
investments inside that?
Speaker 5 (33:38):
Honestly, my brother is really interested in this, and so
I do what he tells me to do.
Speaker 4 (33:45):
Very sexy. That's exactly how my sister works.
Speaker 5 (33:49):
So he tells me I should have about half my
money in Australian companies and then the other half in
US companies to kind of diversify my portfolios. So I
have half of Minor Australian Index or ETFs, the other
half of US ETF or international or Global ETFs.
Speaker 2 (34:06):
I also have a very stupid.
Speaker 5 (34:08):
Investment in this fintech that I thought would go to
the moon.
Speaker 4 (34:13):
That's okay, that's fun.
Speaker 5 (34:16):
It's been about five years that I've had that and
they have not gone to the moon. And I don't
want to sell until I've at least made the money
back that I've lost.
Speaker 4 (34:23):
That's a bit like me. There was this biopharmaceutical company
that I got so excited about and I'm still holding
on hope. Like my husband sometimes goes, how's that going,
and I go, I don't want to talk about it,
but I will not sell those shares until I at
least break even. But it's coming up Millhouse, like it's
coming up one day. It's going to blow your boots
out of the water, like it's going to go to
(34:43):
the moon. A promise, but I won't tell anybody what
it is now, because I'm so embarrassed that I invested
money in this. I'm always like, bah, what a coincidence.
I forgot the ticker code I log in.
Speaker 2 (34:54):
It's so funny. I log in.
Speaker 5 (34:56):
Recently it had actually surpassed what I paid for it,
and I still couldn't sell them.
Speaker 2 (35:03):
I don't know.
Speaker 5 (35:04):
Maybe it's just like gambling energy in me. I was like,
they're going to go to the moon.
Speaker 2 (35:08):
They're going to go to the moon. I'm going to
make way more money they have not.
Speaker 4 (35:11):
So yeah, look I'm in that situation. I actually, just
as were talking, I googled the company and I bought
in at two dollars a year, which I was like, oh,
that's pretty good. It's two dollars a year. They're currently
sitting at thirty cents a share, so like, we're not
doing well, but you know what, I believe in them
for the lull.
Speaker 2 (35:29):
I'm actually just looking at mine as well.
Speaker 5 (35:31):
And I think when I bought them, I bought them
just after they IPO, and I bought them for a
dollar twenty five and I am now in the profit.
Speaker 2 (35:41):
They're at a dollar forty two today.
Speaker 4 (35:43):
So okay, look at you you're doing much better than me,
who's literally an ex financial advisor. This is why now
all of my money just goes into my ETFs, Like
I don't even think about it anymore. Like I used
to have direct share portfolio, which did well but was
too much work. And now I just play with this poor,
poor share and my ETFs and we're just going to
call it a day.
Speaker 2 (36:03):
I reckon, Yeah, me too.
Speaker 5 (36:05):
I don't have the time or capacity, and it's never
going to be my full time job. So it's ETFs
about it to focus on for me.
Speaker 4 (36:13):
Agreed, Now talk to me because debt is something I
want to discuss. You actually own an apartment with your
siblings back home, because only way that you could get
into the market. What kind of debt are you in
for that?
Speaker 2 (36:26):
So for that apartment?
Speaker 5 (36:29):
Believe the apartment was just under a million dollars, so
together and we put a twenty percent deposit down, so
I think together right now we're at about six hundred
and fifty thousand. There's three of us individually just under
three hundred I think two fifty each.
Speaker 4 (36:42):
And what do you think that that apartment is valued
at now?
Speaker 2 (36:45):
Like?
Speaker 4 (36:46):
Are we doing well? And tell me, like how do
you own an apartment with siblings without fighting?
Speaker 5 (36:51):
That's a really great question. It's certainly not without fighting.
And we all definitely do not have the same money
goals and the same kind of money values in life,
and I think that's been really challenging.
Speaker 2 (37:05):
I think the idea of owning an.
Speaker 5 (37:07):
Apartment with your siblings is like my mum's dream, right,
I'll look at my.
Speaker 2 (37:11):
Three children all owning an apartment.
Speaker 4 (37:13):
Together, so cute aspirational.
Speaker 5 (37:17):
It's certainly not been without its challenges. I think it
was challenging. Recently. We had a fixed three year interest
rate and it recently just changed to variable about a
year ago, and that went up from you know, our
mortgage repayments doubled and our tenant. We're not going to be,
you know, slimy landlords. I think all of us have
(37:38):
all been in our fair share of really terrible rental
living situations, so we really try to be more conscious
of you know, we had a letter from these two
lovely twenty year old nurses who wanted to rent the
place out, and we had an older couple who definitely
had more money, and we picked the two nurses cute
because we thought, you know, we've all been in our
twenties and not been able to find a rental property.
(37:59):
But we're not upping their rent in the way that
maybe other people are purely out of I couldn't do
that so purely out of the art, And I think
it's certainly not without its challenges because we're all in
very different stages in our.
Speaker 2 (38:11):
Careers in our money goals.
Speaker 5 (38:14):
One of my siblings is back at university. My other brother,
you know, earns quite a significant amount of money, and
so sitting in between that, we're certainly not in the
same values of money. We will never pay off this
loan at any rate bar the bare minimum principle and interest.
This is not going to be something that we're going
to be throwing money art. This is just a stable,
(38:35):
long term, thirty year investment that will just be paying.
Speaker 4 (38:38):
Yes, So the plan is to kind of like hold
it for the next thirty years. It's not to like
wait until it increases and then sell and use the
profits for your own home deposits or something like that.
Speaker 2 (38:48):
That certainly could be an option something we haven't talked about.
Speaker 5 (38:50):
What actually the dream is. It's one of four apartments
in an art deco.
Speaker 2 (38:55):
Oh, cute.
Speaker 4 (38:56):
Yeah, I actually love those as in an investment because
the rooms are bigger, usually tall ceilings, really sturdy brick,
so like not a lot of like maintenance, and who
doesn't want to live in an apartment in a small block.
Speaker 5 (39:09):
Yeah, so it's only four in the block. I think
our secret dream would be buy out all the other
three owners, who are all investment owners. Then you've got
a whole giant block of land in Sydney. But who
knows what's going to happen.
Speaker 4 (39:22):
We can manifest, we can dream, and.
Speaker 5 (39:27):
That would require all of us to have again another
deposit for another million dollar apartment, three more times in
the next thirty years.
Speaker 2 (39:33):
So you know, we could dream.
Speaker 4 (39:34):
Hey, I mean, if you've got a million dollar apartment
and you give it another five years, it's going to
increase in value. And then what we could do is
use the equity in your previous apartment to buy the
next apartment, and then we don't even need a deposit
ever again, and we just hop from one to the
next to the next, and we just use the equity
in each and then in what we do, we demolish
the apartments because that's obviously very ethical when it comes
(39:56):
to landlord's stuff, but we demolish it and then we
sell the land flex seven times what it's worth to
a developer who's going to put irise on it, and
then we're retiring.
Speaker 2 (40:05):
See this is why I needed to be on the podcast.
Speaker 4 (40:07):
Right exactly, because you're a property mogul. Watch out, guys.
We'll have her on the show in twelve months and
she'll be demoing apartments and developing.
Speaker 2 (40:18):
I'll be a flip person or whatever they call them.
Speaker 4 (40:21):
Honestly, I cannot think of anything worse. My husband and
I are talking at the moment like what's our next
property move, Like, you know, what do we want to do?
And I think we've both agreed like renovating probably not
for us. Like at the moment in this economy, every
person that we know, their renovation is either being pushed
out astronomically or it's going way over budget, and people
(40:41):
who are building from scratcher getting astronomical quotes. I'm like,
do you know what? We just need to find something
that's already built and call her today.
Speaker 5 (40:48):
Also, I guess my theory is like why is it
so ingrained in Australians that they need to buy property.
Speaker 4 (40:54):
The great Australian dream.
Speaker 2 (40:55):
Why is that the Australian dream?
Speaker 5 (40:57):
Now that I live in New York, I question it
every day because people spend their entire lives renting.
Speaker 2 (41:02):
They never have a care in the world about wanting
to buy.
Speaker 4 (41:04):
I mean, we can do a little bit of a
history lesson and maybe I'll chat with my producer and
do a whole episode on the aspect. It's because Australia
is a relatively new colonized country, right, So like technically
White Australia has only been around for two hundred years,
and therefore property was always something that was completely accessible
to us because of the amount of space that we
had versus the population that we had. And so like
(41:27):
you go back to like the US, you've always had
massive populations in small amount of spaces, so the ability
for people to own property is actually not within reach,
whereas historically, like we're hearing about our parents buying land
for like six thousand dollars, unheard of but actually within
reach for them. And now our population has increased so
(41:47):
much and the space is now the issue. Land is
not available in the way that it was historically, and
we actually need to be reframing what the great Australian
dream looks like because to own a property, is it
actually the Australian dream to die in debt for a
property that you never pay off, because that's the reality
for lots of people, and like it is really depressing
when you start talking about it. But I think we
(42:08):
do genuinely need to reframe what our goals are because
I would much prefer people to go, you know what,
property is not my thing the I actually just want
to be financially secure. I have some good investments, live
a good long life. I can rent the whole time.
But I also think that that means that our rental
process and our rental policies need to change as well,
(42:29):
because you're in the US right now, and I'm assuming
that you're finding your rental a lot more flexible than
the rentals in Australia. Like in Australia, you still can't
put things on walls. We need to apply to have
pets and all of that stuff is given. In fact,
in the US it's really normal to have like fixed
rate rent for ten years, and like that's not something
(42:50):
that exists here anyway. That's my little property rent No totally.
Speaker 5 (42:53):
I mean I'm looking around my apartment, there's stuff all
over the walls. We've got, you know, and that would
just not be possible in Australia and it's your home.
And on top of that, you know, I live in
an apartment. The apartment building has a dorman, a package room,
a elevator, you know, kids play area, gym and I
(43:14):
could see myself raising a family in this apartment. In fact,
it'd be a lot easier to do that when you
have those options, and it's not that much more expensive
than places that don't have that.
Speaker 2 (43:25):
It's so much easier.
Speaker 5 (43:25):
Imagine being able to go away on holidays and shut
your door and not be worried about gardening or any
of that. But that's just not They don't have properties
like that. They don't have as many options like that
in Australia.
Speaker 4 (43:36):
Yeah, and that's where we really need to reframe it, right,
And they.
Speaker 5 (43:38):
Don't think about like apartment living as a family.
Speaker 4 (43:42):
Yeah, one hundred percent. So money diarist, talk to me,
you've now, I guess said to us, I'm a B minus,
but I wasn't always. What do you think now is
your best money habit?
Speaker 5 (43:52):
I don't know if you've heard of rent the Runway, Yes,
I have so. Rent the Runway is essentially a clothing
rental business.
Speaker 4 (44:00):
You have something similar here is called like glam Corner.
Speaker 5 (44:03):
Yeah, but I think glam Corner is only like one
off items, right that you rent for a wedding or
something like that.
Speaker 4 (44:09):
Yeah, rent the wrong way like America is better, I
get it, but like kind of similar. Oh no, you
can do like your corporate wardrobe and stuff from them
now too, Like you can pick like a bunch of
items for like a month or something, which is kind
of cool.
Speaker 2 (44:21):
Okay, So that's exactly what it is.
Speaker 5 (44:22):
So I would say my best and probably worst buddy
habit is that I am addicted to shopping.
Speaker 2 (44:27):
I love shopping, I love clothes.
Speaker 5 (44:30):
And something that's really curbed my habit now is that
I do this monthly subscription. I get five items twice
a month, so you can have five items in your
wardrobe at once.
Speaker 4 (44:41):
Every two weeks, I'm getting new clothes.
Speaker 5 (44:42):
Yeah, and they pick them up from my door and
they drop them off at my door.
Speaker 4 (44:47):
Stop it. See that would never happen in Australia in
the same way I'm talking like these things are like
five hundred and six hundred dollars an item.
Speaker 5 (44:53):
I have five in my possession at all times. I
pay a monthly subscription fee, and it's the best thing
that ever happen to my shopping habits because shopping is
also so expensive here in the US. Now, I literally
don't buy any clothes except basic clothes, and I just
rent five items twice a month. It was amazing because
in winter, obviously I don't own any coats.
Speaker 4 (45:14):
You just rent some coats and have some really on
trend ones. What does that cost you per month?
Speaker 5 (45:19):
So I think it's one hundred and fifty US dollars
a month, which is a lot of money when you
don't own the clothes.
Speaker 2 (45:25):
But they give you a discount if you want to
buy them.
Speaker 4 (45:27):
Oh do they? I f You're like, oh my goodness,
I need to keep this in my wardrobe. You can
keep it because I think I'd fall in love with
so much stuff.
Speaker 5 (45:33):
Yeah, which I do sometimes, but I have to really
love something, and it gives you an option to, I guess,
trial it.
Speaker 2 (45:38):
See if you like the clothes before.
Speaker 4 (45:40):
Yeah, that's kind of cool, and like do you get
to try out lots of different styles and stuff like
that as well? That maybe you were like, oh, I
don't know, does this work?
Speaker 2 (45:48):
Yeah?
Speaker 5 (45:48):
Absolutely. I actually tried on a dress today. I wore
it to the office and everyone was like, you never
wear things like that. But it felt like in a
way of you'd ever wear things like that. Don't wear
something like.
Speaker 4 (45:58):
Oh, okay, yeah, I wouldn't like that. We're not putting
that back on there, go straight back to the shop.
Ten out of ten. All right, tell me what do
you think your worst money habit is that? Also the
rent in the runway, or like, is there something else?
Speaker 2 (46:10):
I have a few.
Speaker 5 (46:11):
I guess we've been speaking a lot in this conversation
about how I have so many bank accounts. I literally
have five bank accounts. I have two in the US,
I have two savings in Australia. I have a mortgage.
I have a mortgage offset account, I have superannuation. I
have four oh one k I'm saving money in both countries.
My life is very complex. So I would say that's
a bad money habit, but it's kind of unavoidable at
(46:32):
this point.
Speaker 4 (46:33):
That's okay, we can clean it up.
Speaker 5 (46:35):
The other one is Amazon shopping in the US is
so convenient and quick.
Speaker 4 (46:40):
Amazon shopping in Australia now, Like I am counting down
the days until they let us know when prime day
is because like I'm just live love laughing for that.
Speaker 5 (46:49):
I just the problem is it's so easy. You go
on the app and you you know, click click click.
All of a sudden, I've spent five hundred dollars on
things I didn't need and they arrive on your doorstep
the next day.
Speaker 4 (46:59):
Not good, but also kind of cool, right, Like, let's
reframe that. That's awesome accessibility or something. I feel like
you are doing better than you think you are, Like
we've had this great chat. You own property with your brothers,
which is really cool. You also, I don't know, having
learned a bit about how you grew up, you're like
I always saved money from my birthday presence growing up,
(47:20):
Like that's really sweet but also such a good money
memory all the way through to being made redundant, which
absolutely would have kicked your ego, which sucks. But then
also moving to the US, like you're on a banging
salary like that is so cool, and your plan is
to kind of like work up and then move home. Girl,
You've got so much planning, so much strategy, like I'm
so I just can't wait to check in with you
(47:40):
in like twelve months, two years see where you're at.
Do you actually think that B minus is right or
what do you think it would take for you to
maybe get to an A?
Speaker 5 (47:48):
I think B minus probably sounds a little harsh. I
feel like I am definitely someone who won't speak highly
of the things that I've done. I think I'm very
proud of where I am today.
Speaker 2 (48:00):
Probably be a B plus.
Speaker 5 (48:01):
There's certainly room for improvement, a lot of cleaning up,
less complexity in my life, but I'm very proud of
where I've cut from and where I'm going.
Speaker 4 (48:08):
I feel like you're on the right path, like you're
absolutely killing it, and I'm very excited for you. I've
adored this. I feel like if you were back in
Australia we would be best friends. So you let me
know when you move home and we can organize drinks
and talk about how much Starbucks is in America and
how that's an absolute raught. But unfortunately we've run out
of time. So thank you so much for joining us.
(48:30):
I just know that the community is going to love
this like I've loved this, and I just know they're
going to love learning about you and learning about what's
going on over the other side of the world, and
just it's such a privilege to be let into people's
money lives on such a regular basis, so I really
appreciate it.
Speaker 2 (48:44):
Thank you.
Speaker 4 (48:52):
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(49:12):
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(00:24):
lands of the Aboriginal people. We thank acknowledge and respect
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Speaker 2 (00:44):
She's on the Money.
Speaker 3 (00:46):
She's on the Money.
Speaker 4 (01:07):
Hello, and welcome to She's on the Money, the podcast
that lets you be really pervy about other people's money
habits educational purposes of course. Welcome back to another one
of our money diaries where I get the absolute privilege
of talking with one of our incredible She's on the
Money community members all about their journey. Let's jump straight
into it, because this week I got an email and
(01:28):
it sounded exactly like this, Dear, she's on the money.
I've proudly been listening to your show since day one,
and before the podcast, I had no financial literacy at all.
I've been through redundancy working in the disability space and
had to move back home during COVID. After that, on
the advice from my mentor, I made a career pivot
into people consulting. I also own one third of an
(01:50):
apartment with my brothers because it was the only way
I could get into the market at the time. It's
not always easy, but I'm glad I did it. Fast
forward to today, live in New York after transferring with
an American company. This means my finances are a bit
all over the place. Five bank accounts, A for U,
one K Ozzie super A, mortgage back home, and tax
in both countries. Money, Darrist, Welcome to the show. This
(02:14):
is actually going to be so fun.
Speaker 2 (02:16):
Thanks for having me.
Speaker 4 (02:17):
I'm very excited. New York is so fancy. How long
have you been there?
Speaker 5 (02:23):
Yeah, so, I've been in New York for three years now,
just over three years.
Speaker 4 (02:26):
Oh, that's so exciting. And I mean, you did say
that your finances might be a little bit all over
the place. If I asked you to give yourself a
money grade from A through to F, what grade would
you give yourself?
Speaker 5 (02:37):
I think I give myself a BUS. I've learned a
lot over the last few years. I've learnt a lot
from listening to the podcast. I'm pretty proud of what
I've done, but I still think there's a lot to
learn and grow from. And I think that I'd like
to clean up my finances a little bit.
Speaker 4 (02:52):
Love love, love love. Tell me a bit more about
your money story and your money journey, because you've gone
from like being in Australia to now in the US
for the last three years. Tell me about all of that.
And I need to know, like what's the future going
to hold?
Speaker 5 (03:05):
Yeah, so I think, you know, just to go back
to how I was raised and brought up.
Speaker 2 (03:10):
I grew up with, you know, very middle class family.
Speaker 5 (03:13):
My mother has always been so intensely you know, money savvy.
She's been a scrimper and a saver her whole life.
My dad, on the other hand, is a fairly risky
person with money. I think he's always had his own business,
maybe not had that much of a security mentality towards money.
He grew up a little wealthier than she did, and
(03:35):
so I don't think he cared or thought as much about,
you know, what life would look like if he didn't
have any money. And I think I definitely more take
after my mum. I think that I'm more kind of
more risk averse with money. I'm definitely a scrimper and
a saver. I always have been. I would save my
pocket money. I saved you know, money from birthday presents
for my whole life, and so I think I definitely
(03:57):
had that mentality, and that's kind of the way I've
been brought up up. I think the thing that made
it hard for me was I'm quite a kind of
structured type aid person, and when I was made redundant,
not once, but twice in three years, it definitely kind
of made me feel like I was never going to
achieve my money goals. I've moved for jobs twice in
(04:19):
my life. I moved from Sydney to Melbourne. I moved
from from Sydney to New York for work. It was
a massive concern for me in moving here that that
would be a really scary thing to do, and that
I wouldn't necessarily be able to be able to afford it.
I don't have any security for my family. I fully
financially am responsible for myself, and so yeah, I mean,
(04:40):
I think my attitude towards money now is that this
podcast more generally, and listening to this podcast as well
as some other kind of financial literacy that I've learned
over the last kind of seven years, has really taught
me how powerful it is to be financially independent and
how good I feel when I save money, when I
I'm able to travel, I'm able to contribute to you know,
(05:03):
I live with my partner, I'm able to contribute to
our rent in our life, and that we can go
on holidays and we can do everything that we want
to do and we can still save for kind of
our big money goals. So I think I've come a
long way from when I first started in my career
and when I first started saving money to now where
you know, I'm pretty comfortable. I know, I'm comfortable, I'm happy. Yeah,
I guess that's kind of my attitude towards money.
Speaker 4 (05:24):
I love that I feel like that's such a big
goal for so many people to just be like, look,
I'm comfortable and I'm happy, like that is iconic, especially
right now when everything is so damn expensive. It's so
expensive here in Australia, but I can't imagine what it's
like in the US. I remember when I was in
New York. I just found everything astronomical. Like I was
(05:45):
consistently being like, sorry, what, Like, my goodness.
Speaker 2 (05:48):
It's crazy.
Speaker 5 (05:50):
Like I could not even my friends at home when
I tell them, you know how much rent we pay,
or even going out grocery bills, whether it's buying a
cocktail in a bar or going grocery shopping or getting
an uber it's like double the price of Australia.
Speaker 2 (06:07):
I don't convert anymore.
Speaker 5 (06:09):
It just like pains me and it hits my heart
so hard when I try to convert back to Australian dollars.
Speaker 4 (06:13):
Yeah, you're just blocking it out. You're like, oh, my goodness.
Speaker 5 (06:16):
Yeah, but I was recently calculating how much rent I
pay and what mortgage we could afford to pay in
Australia and that made me sick to my stomach.
Speaker 4 (06:28):
Yeah, and like it's so hard, but you're also we
had someone on the show a couple of weeks ago actually,
who was based in San Francisco, And I know you
listened to that because we're just talking about it off
air and she was saying the same thing, just like
it's so expensive, i'd no longer convert. But you're also
like kind of paying for a lifestyle and paying for
the experience, Like you wouldn't want to or I don't
(06:50):
think you would want to take that away, because yes,
you could come back to Australia and pay a different mortgage,
but like, look at the life experience you're getting. Look
at like the things that you're doing. I just I'm
in such or of people who are able to do
this because I'm such a conservative person. Like as much
as you know I've started businesses and done all of this,
I've always done it, like I would say, while feeling
(07:10):
relatively secure in the country I grew up in, Like
going to the US is a completely different ballgame. I
want to know you mentioned before, like being made redundant
twice in three years. That's rude. Like I think that's
quite rude. I feel like you should be getting like
a hall pass or something where someone's like, oh, sorry, no,
we can't make her redundant. She actually got made redundant
(07:31):
once before, Like that wouldn't be very nice for her ego,
So we shouldn't be doing that. Talk to me about
like not just rebuilding from that, because I feel like
you get a bit of a financial hit because obviously
you're out of work, you're trying to find a new job,
but like the ego hit and just feeling like is
this me, Like did that hit your confidence in the
(07:52):
way that I assume it might have.
Speaker 2 (07:54):
Oh, my gosh, totally, I think.
Speaker 5 (07:56):
You know, the first time it happened, it was my
first job, when I was six months into that job,
and the organization it was a disability organization, and they
just didn't have the money and they didn't have really
that they weren't mature enough to be able to have
me on staff full time. I was their first kind
of full time employee. And the first time that happened,
I was like, I'm never going to get another job,
(08:18):
I'm never going to be able to afford what I want.
I'm going to have to move home, you know, like completely,
just a horrible feeling. And then for that to happen
kind of two years later, right when I start my
third job in my career. I was like, is it
something what's wrong with me?
Speaker 2 (08:34):
Is it me? Yeah?
Speaker 5 (08:36):
And what am I doing wrong that's making this happen.
I've always thought I was a good worker. I've always
thought i'd work hard. I always go kind of above
and beyond. I'm never just someone who like clocks off
at five and leaves.
Speaker 2 (08:47):
And it was the worst feeling ever.
Speaker 5 (08:50):
Hilariously, the company that made me redundant the second time
I now work for in.
Speaker 4 (08:56):
New York, You're like, bet you didn't see me coming back.
Speaker 5 (09:01):
They essentially like helped me relocate to New York and
they paid my relocation.
Speaker 4 (09:05):
They moved me here, my goodness.
Speaker 5 (09:07):
So it kind of makes me think that, you know,
everything happens for a reason, you know, it doesn't feel
that way, And I hate when it happened.
Speaker 2 (09:14):
I hated everyone that would say that to me.
Speaker 5 (09:15):
I hated everyone that would be like, it doesn't happen
for a reason, you know, like I have no money,
I'm gonna have to move back to my parents' house,
like I have nothing. But now years past that, I
think business is business, right, and it's not personal, and
it's not your fault and you're going to find another
job where you're going to find a different career path.
And had those things not happen to me, I wouldn't
(09:37):
have been where I am today. I wouldn't be sitting
here in New York with my partner who's American, living
this life literally looking out onto the city. I would
just probably be in a really different place with my life.
Not saying that, Like money is the bell on it
all and gives you everything, but I think it's afforded
me a lot of It's your freedom.
Speaker 4 (09:55):
It gives you a lot of freedom and choice and
ability to I don't know. I get quite frustrated when
people say things like, oh, money doesn't buy happiness, and
I'm like, yeah, but like it does create unhappiness when
you don't have enough of it, And like we all
know the research says, like there's a cap of a
certain amount of money where you don't get happier the
(10:15):
more you earn. And that's fine, but like when you're
in financial distress, when you're being made redundant, when you
think that you're not going to have an income or
you're going to be able to achieve any financial goals, Yeah,
I'm sorry. Money makes me really happy, Like money makes
me feel really secure, and being secure is actually a
good thing.
Speaker 2 (10:31):
And I feel that way.
Speaker 5 (10:31):
I mean, I think about the people that can't afford
to go buy groceries, and I think, you know, yeah,
that is a terrible feeling. I've been in that position before,
a lot of people have been in that position before,
and it feels horrible and that is a really unhappy place.
So to even have the luxury of being able to
go and buy groceries every week and not feel like
(10:53):
you can't put food on the table for you or
your family, you know, that gives somewhat of happiness. How
you get from there to like being extraordinarily wealthy. I
don't think that much happiness carries.
Speaker 2 (11:03):
Along with it.
Speaker 4 (11:04):
No, absolutely not. It's kind of like I would actually
like us older just have the bare minimum, Like can
we all just be able to put food on the table,
not go into debt to do that, and feel like
we can be safe and happy and have a roof
over our head and pay for our electricity. Like I
just feel like that's the bare minimum and we should
be working towards that. Talk to me about work. So
(11:25):
you've moved over to America, it's is so fancy you
transferred with and did you say it was American company?
Speaker 2 (11:34):
Yes?
Speaker 4 (11:34):
Like it was the company you worked for over here,
got made redundant from and have gone back to. So
talk me through that. What do you do for work?
How much do you earn? How on earth do you
get someone who's like, you know what money DRIs will
pay for you to travel to the other side of
the world. Like that's cool.
Speaker 5 (11:49):
Yeah, well it probably makes sense to start with how
I was made redundant from this company as an American company,
they have a very small presence in Australia. I work
as an executive search consultant. So basically what we do
is essentially help companies. Some people call it a headhunter.
Basically hire executives like CEOs for big companies around the world.
(12:12):
We also kind of do another bit of work, which
is leadership and consulting services to businesses. So when you think,
you know, the culture of a company is really bad,
we might come in and build a better culture for
the business or create a plan for CEO succession. I
was major redundant from that job. I then moved to
a different company and I was there for three years.
(12:33):
While I was at that other company, A previous company
kept calling me saying, hey, we'd love you to come back.
Speaker 2 (12:39):
I think you should come back. We've got a job
opening for you.
Speaker 4 (12:42):
And you're like, but you did me a dirty the
first time. I would have been really apprehensive.
Speaker 2 (12:47):
And eventually I was like, can I come back? But
in New York?
Speaker 5 (12:51):
And they saw it as this long term The industry
is very small in Australia, so they saw it as
this long term you know, we bring you back, maybe
you'll come back to it Australia down the track.
Speaker 4 (13:01):
Ha ha ha. Smart from them, but also strategic from you.
Speaker 2 (13:04):
Yeah.
Speaker 5 (13:04):
And so they introduced me to the business in New
York and essentially I ended up moving over with the
business three years after I was made redundant from that
same company.
Speaker 4 (13:13):
Wow. And so what do you get paid if you're
in executive search?
Speaker 2 (13:18):
So it's funny.
Speaker 5 (13:19):
When I moved over from Australia to New York, my
salary did not change one bit.
Speaker 2 (13:25):
It was the same.
Speaker 5 (13:25):
It was one hundred and thirty thousand Australian dollars to
one hundred and thirty thousand US dollars.
Speaker 4 (13:30):
Excuse me, just.
Speaker 5 (13:31):
The same amount. And now I've been promoted over the
last three years.
Speaker 4 (13:35):
Wait. Sorry, so you went from one hundred and thirty
Australian dollars to one hundred and thirty American dollars. Does
that mean you kind of basically doubled almost double dur income.
Speaker 2 (13:44):
Yeah.
Speaker 4 (13:45):
So at the time, we're just like skimming across the
fact that there's currency conversion here.
Speaker 2 (13:49):
Guys.
Speaker 4 (13:50):
Yeah, I was like, hold on, hold on, that's like
a really good deal.
Speaker 5 (13:53):
I ignore currency conversion because everything costs the exact same
in the US in US dollars as it does in Australia.
So at the time, when I got that pay and
I was like, I'm going to earn one hundred and
thirty thousand base and then we get kind of a
cash bonus, I thought I'd like made it. I was like,
this is amazing, this is the best thing that could
ever happen to me, and it is. It's incredible. But
(14:15):
then you move here and everything costs the same, if
not more, in US dollars in New York, and you think,
actually it was kind of ends up being less money
at the end of the day that you kind of
come homework.
Speaker 4 (14:28):
Yeah, that's crazy because you've basically gone from having one
hundred and thirty grand Australian to two hundred thousand Australian,
which is like the currency conversion there, which is fine,
but like having experienced it, having you know, done lots
of research into this space, like everything is astronomically more expensive.
I remember one of my favorite things when I travel
(14:50):
money Durst is to go to the groceries store close
to like where we're staying and just like have a
bit of a wonder round see what the prices on
things are. And obviously, like I don't know, when you
move to a you probably did this. American grocery stores
are so fun. It's like a wonderland. They have so
much more stuff than you could ever imagine. Like why
are there pop tarts? Why is there a whole? I
(15:11):
al feel like pop tart? What are you talking about? Anyway,
I had it. That's fun, but it was insane how
much things were. Like I thought we were crazy in
Australia in America, unhinged.
Speaker 2 (15:22):
It's crazy. Actually, it's so funny.
Speaker 5 (15:25):
We came back to Australia recently for a visit and
my partner both of us were like, it's really it
feels quite cheap here for us, Like everything was discounted,
everything about like forty percent off the price just because
of the US dollar.
Speaker 2 (15:37):
But I know that's not the case.
Speaker 5 (15:39):
Like my family's still there, and I know people are
really struggling, So I'm not coming from a place without
that perception.
Speaker 4 (15:45):
No, But it's just our experience. I think that's the
beauty of money diaries, right, Like we get the opportunity
to share your experience so that other people can learn
from it, because it's so beautiful to be like, oh,
my goodness, like you're on the other side of the
world and you're sharing all of your like money secrets
basically with us. It's not because you don't get it.
It's just we're all in different situations and that, to
(16:06):
me is really cool.
Speaker 5 (16:07):
And I should say I was promoted last year, so
my total package now I have a base salary of
one hundred and fifty thousand US dollars and then I
earn this bonus, which is a cash bonus annually. It's
very weirdly calculated. I have no clue how they decide
how much it is. Last year it was fifty thousand dollars,
(16:28):
so just one time a year, you get fifty thousand
dollars in your bank account.
Speaker 2 (16:31):
Why, it's a bit crazy.
Speaker 4 (16:33):
And what does tax on that look like?
Speaker 2 (16:35):
Oh like fifty percent?
Speaker 4 (16:36):
Fifty percent, jeez, Louise. So now you're earning like two
hundred USD which is about three hundred thousand Australian dollars.
That's crazy. But also you're probably like Victoria to live
in New York. That's a bare minimum.
Speaker 2 (16:49):
Yeah.
Speaker 5 (16:50):
And then on top of that, which is kind of
an interesting piece that they do in the US, they
don't in Australia, but it's something called profit sharing. So
if the company performs well and profits, then the employees
get a small portion of those profits based on how
much they earn. So it's based on a base salary.
(17:10):
It's a percentage of the profits. So I think last
year that added up to about fifteen percent on top
of my base salary. That goes straight into the equivalent
of my superannuation.
Speaker 2 (17:21):
So my fourah one k.
Speaker 5 (17:23):
Yeah, crazy, which is a great system. It's a private company,
so they can kind of do whatever they want.
Speaker 4 (17:28):
So talk to me about having gone from the Australian
system where we have superannuation to having a four oh
one case. So for those of you falling along at
home in Australia, superannuation is government mandated in Australia, but
there's no system like that in America. It's kind of
would you say, it's like voluntary. So some companies engage
(17:50):
with it. You can contribute to it, like it's a
good idea, but it's not something that they absolutely have
to pay like they do in Australia.
Speaker 2 (17:57):
Yeah, that's totally right. I actually the system.
Speaker 5 (18:00):
I think it's a terrible system, and I think it's
really disadvantages people that are living paycheck to paycheck.
Speaker 2 (18:07):
And I wish it wasn't the case.
Speaker 5 (18:09):
I really struggled when I moved here with figuring out
the tax on a four oh one K if I
wanted to take it back to Australia. I was deciding
whether it would even be worth me having a four
oh one K, or if I should just continually contribute
to my own superannuation in Australia. But a lot of
companies do a process called matching, so if you put
(18:30):
in three percent of your pay, they'll put in three percent.
My company, actually, I don't think has the best matching program.
You put in six percent and they will match three percent,
so they'll match half of the six percent, right, Yeah,
it's really strange. So in totally if you put in
six percent, they'll add three percent and that takes it
(18:53):
to nine percent. But because they do that profit sharing,
my company ends up giving me more in my four
oh one K then I would get in my super
in Australia because they add I think it's like last
year was fifteen percent profit sharing into my four o
one K at the end of the year.
Speaker 4 (19:10):
Yeah, and I think it's interesting. And if you are
about to ask you about this actually, but if you
ever do booth back to Australia, something that I would
recommend is talking to an expat financial advisor, so someone
who really specializes in Americans or Australian citizens who have
lived abroad who are coming back. And I've got a
great recommendation if anybody needs one. But it's so important
(19:33):
to work out what that looks like because there are
a lot of like us and then Australian tax implications,
because the Australian tax system doesn't recognize the four oh
one K as a tax advantaged account, but obviously in
America it is, and there's like lots of different strategies
and how to get it back into Australia basically, but
the ATO sometimes and I'm not an accountant so I
(19:56):
can't give advice on these. Is just interesting to know.
Sometimes the ATO might actually look at you pulling money
out of your for a one k's income and then
try and tax it at your marginal tax rate, which
you go, well, hold on like it was taxed on
the way in. But that was the US system, not
the Australian system. So I have seen situations where people
(20:16):
move back to Australia still have their for a one
ks for life and then just have withdrawals over time.
I've also seen people completely extinguish them and bring them
all back into Australia and put them into their subernuation system.
So it's completely up to you. But that's one hundred
percent something I would be getting very specialized advice on, because,
as you said before, it's a lot of money. But
(20:38):
then also the tax implications. Tax rates are so high
in the US but also so high in Australia that
you just don't want to make the wrong move.
Speaker 5 (20:46):
Yeah, it's crazy, And actually I got advice before I
left and the advice that I got this was not
formal advice. This was from a friend and he said,
don't put any money into your fur A one k
if you can avoid it, because it's such a headache.
You'll get to tacks a huge amount when you bring
it back to Australia. But then I couldn't part with
the idea that my company would then be not contributing
(21:07):
anything exactly.
Speaker 4 (21:09):
And it's like, well, they're going to give me free money.
I can work this out later down the track. And
there's definitely a way to work it out, I promise.
It's just more complex, unfortunately, and it might be about
drawing down certain amounts or even maybe holding American investments
for the rest of your life. Like there's a lot
of ways around it. And I think that it sounds
a lot more intimidating than the reality of it, because
(21:31):
even if you live in Australia, having American assets is
not the end of the world. We've got the Internet.
It's almost like you and I are hanging out on
the Internet truly right now in different countries and having
a chat. So like, I feel like sometimes it feels
more complex than it actually ends up being. So tell
me about the future, Like, are you ever coming back
to Australia, you said before, and they need to know
(21:51):
how you met that, Like you said before, My American
partner and I live together, So how's that going to work?
Speaker 5 (21:59):
Well, it's so funny. He came to Australia for the
first time maybe a few months ago. He is in
love with Australia. He loves it. He wants to move tomorrow.
If it was up to him, we'd be moving tomorrow.
Speaker 2 (22:11):
Oh my heart.
Speaker 4 (22:12):
I kind of love that because you're like in the
good position where you're like, I'm living, loving, loving in
New York. But if I ever want to move home,
that's not going to be an issue.
Speaker 5 (22:20):
Yeah, And I guess I was worried about that. I've
always been very clear with people I was dating when
I moved here about the fact that I'm going to
move back at some point. That's always been clear. I'm
not having a family. I cannot raise a family in
the US away from my family. My brother just had
a baby, and thinking about having a family and raising
them away from my cousins or their cousins is not
(22:43):
really an option for me.
Speaker 4 (22:44):
It becomes so important, right It's such a funny conversation actually,
and I interviewed and you listen to it, and probably
everyone listening to this episode of Money Dari's heard our
interview with the woman who moved over for her husband's
job in tech in San Francisco, and so I went home.
It was funny because my husband has a very similar
career path to hers, and I say, oh, my gosh, Steve, like,
(23:05):
you could move to San Francisco and you could do
all of this stuff, and he was like, no, I
would never have my kids in the US, like I
don't want to bring kids up in the US. I
don't want to bring kids up away from my family.
And I was kind of like, oh, that was just
like a fun thing to discuss because it was, you know,
similar to your career. And then I was like, hold on,
that must be a massive consideration. What was it like
when your brother had a baby and you're just not
(23:26):
in the country.
Speaker 2 (23:27):
It's been really tough.
Speaker 5 (23:29):
So when my brother had a baby, I was thinking,
oh my gosh, how could I possibly be so far
away from my niece. And then I thought about, you know,
when my other sibling has a baby, what that might
look like, and thinking about those cousins growing up together
around the corner from each other, and me being so
far away and my kids potentially growing up so far
(23:51):
away just didn't really feel like a possibility for me.
Speaker 4 (23:54):
Yep, totally.
Speaker 5 (23:55):
And then thinking about that, my partner's family is all
pretty disperse around the country. Americans all, I guess Americans
are probably better than Australian.
Speaker 4 (24:04):
They're wild, are they. They just live in different states
and think it's easy, And so there's.
Speaker 5 (24:08):
Not one central sort of home for his family. And
so because of that, I think they're all more open
to kind of moving to different cities in the US.
And then he came to Australia. He loved how much
nature there was, he loved how outdoors we were, he
loved my family, and I think that kind of made
things a little bit easier for him on actually potentially moving.
(24:30):
And so he's like, now he's looking for jobs in Australia,
he wants to move. Now I'm the one that's thinking,
kind of career wise, it probably makes sense for me
to stay a few more years, get a few more promotions,
and then and then go back.
Speaker 4 (24:41):
Yeah, one hundred percent, because I'm assuming that your space
you said before is relatively niche, like executive search in Australia,
I would assume is not as large as it is
in the US. So what could that mean for your
career down the track.
Speaker 5 (24:54):
I think it's certainly there is options in Australia, there's
just a.
Speaker 2 (24:58):
Lot less option.
Speaker 5 (25:00):
So it'd be better for me to kind of stay
here and get promoted and then eventually move back to
Australia in a more senior role because it's so small
in Australia, there just isn't a lot of room for promotion.
There's not a lot of room for growth. And when
you think about it, if you just think practically, most
of my clients are like ASX one hundred equivalent companies
like NASDAQ one hundred, big companies, and they just aren't
(25:24):
as many of them in Australia. And so when you're
working with smaller companies.
Speaker 2 (25:28):
It's smaller roles. It's not that it's not important, it's
just not as much what we do in our job.
Speaker 4 (25:34):
Yeah, one hundred percent, I'm assuming that your type of role.
When you find somebody through executive search, there's a whole
pr release about who's going to be the new head
of this company, and then it's like, yes, there are
lots of CEO roles in Australia, but they're not you know,
listed companies that are always chopping and changing. There's just
so much more business that happens in the US.
Speaker 2 (25:54):
Yeah.
Speaker 5 (25:55):
And also when you think about what we do, a
lot of the time a company would hire us to
do that work because they owe it to their shareholders
that they are not just finding one person that could
do the job, but they are being diligent enough to
look at every market, every sector, every industry in the
world and find the best possible person in the world
(26:17):
that could do that job. And just internally, they can't
do it themselves, they need to hire us to do that.
Speaker 4 (26:23):
No, and you do that day in, day out, So
it makes sense to go to the professionals for that.
And I mean looking at the way that a board
would look at that as well. Having somebody who's an
external feels a lot more secure than you know, being
accused of something happening inside or a friend being promoted
or whatnot. It just makes a lot more sense when
there's a lot more at stake.
Speaker 2 (26:43):
Yeah, absolutely, absolutely.
Speaker 4 (26:45):
So tell me about this idea of moving home with
your partner one, How did you meet your partner? Like,
did you meet in New York? Did you meet before
you moved? Did you meet at work? Like I need
to know the boss.
Speaker 2 (26:56):
Actually, it's so funny.
Speaker 5 (26:57):
So one of my friends that I met in Australia,
he had been on exchange in Australia and we lived
in dorms next to each other when we were at
UNI together. He moved back, he's American, moved back to
the US and he invited me to come to a
brunch one day and he said, my friend is visiting
from out of town, and I come to that brunch.
(27:18):
It's just me my friend, And that's how I met
my partner. He was the other person at the brunch.
Speaker 4 (27:23):
Was he just matchmaking you?
Speaker 2 (27:24):
Actually, I don't know if he was matchmaking me.
Speaker 4 (27:27):
Maybe he was, but it was just like unintentionally worked.
He became the third wheel.
Speaker 5 (27:32):
And he didn't live in New York at the time,
so we dated long distance for a year and then
eventually I.
Speaker 2 (27:37):
Convinced him to move to New York.
Speaker 5 (27:39):
That certainly hasn't been a dream of his to live here,
but he's really happy in nol and so he moved
to New York about a year ago and we've been
living together for a year.
Speaker 4 (27:48):
That's so sweet. I love asking people about their love stories.
I know it's a money podcast, but I'm always like, so,
how did you meet? What's going on? Like that is
so sweet? All right, tell me what are your big
money goals? Like you were mentioning before for like, life's
really expensive, but you do have a pretty good income.
So what are you saving for? What are we working towards?
Speaker 5 (28:05):
So I think that you know, there's smaller money goals
like holidays, visits back home, things like that, and then
I think our big money goal is eventually my partner
and I would want to move back to Australia, and
like everyone would love to buy a house. A house
might be ambitious in Sydney. It feels pretty far away
(28:25):
to actually be able to do that right now. So
we're trying to kind of save as much USD as
we possibly can because I think the exchange rate would
really help us out.
Speaker 4 (28:34):
The exchange rate is going to definitely help you out.
Speaker 5 (28:36):
I'm envious, like I'd said earlier, Like ironically, I was
looking at kind of what the mortgage repayments would be
on a one point five million dollar property in Sydney.
Speaker 4 (28:46):
It would have been less than your rent.
Speaker 2 (28:47):
That's less than what we're paying in rent.
Speaker 4 (28:49):
Yeah, yeah, you'd be fine, You'll be absolutely fine. It's astronomical.
You're going to live large when you move home.
Speaker 2 (28:55):
Yeah, we just have to save because otherwise than you're
not living large. Because if we don't.
Speaker 5 (28:58):
Save money now, then you know we're going to be
paid in Australian dollars, that we're going to be paid
accordingly in Australian dollars. So it's thinking about kind of
how do we maximize the time we have and live
here rather than move back straight away. And the best
way to maximize that is save us dollars as much
as we can.
Speaker 4 (29:15):
Yeah, absolutely, it is money dice. Let's go to a
really quick break because on the flip side, I'm going
to ask a little bit more about your four oh
one K and I want to talk about investments and
best and worse money habits. So guys don't go anywhere,
all right, money dis We are back and we were
talking about your four oh one k before, but we
(29:36):
didn't dive further into maybe what you hold inside your
four oh one k. Talk to me about investment. Are
you investing, If so, in what how are you making
decisions around your four oh one K?
Speaker 2 (29:48):
So, yes, I'm investing. I have a four oh one K.
Speaker 5 (29:52):
There's about sixty thousand US dollars in it at the moment,
which actually feels quite significant.
Speaker 2 (29:57):
If I've only been here three years.
Speaker 5 (29:58):
That's honestly impressive, so impressive, And honestly, I have only
been putting the minimum myself. I only put in six
percent myself. It's just the extra that's added from the company. Honestly,
I don't really know how it works. It seems to
be way more than I expect in there. Some of
it is unvested, so that means that I have to
work here for a number of more years before the
money can pay out, but only a small portion I think.
(30:21):
I look today, it's like fifty thousand is vested and
sixty thousand is the total amount.
Speaker 2 (30:26):
Yeah. Cool.
Speaker 4 (30:27):
That makes you feel a little bit more secure because
you're not feeling like you're I guess, hamstrung to a company.
In case you're like, oh, I decided one day that
this isn't for me anymore, but I have to stay
because like one hundred thousand dollars is in the lurch
like ten grand. Yes, it's a lot of money, but
like if push came to shove, it's not the end
of the world.
Speaker 2 (30:44):
Yeah, and then I have a super.
Speaker 5 (30:46):
My life, my investments are very complicated, So.
Speaker 2 (30:51):
I have a super in Australia.
Speaker 5 (30:53):
I think there's about fifty thousand dollars in it, which
actually probably doesn't seem like as much given how long
I've been working.
Speaker 2 (30:59):
It's not as high as it could be. So it's
nice to have the four o one K.
Speaker 4 (31:03):
Yeah, one hundred percent. And so when you get your
four oh one k, a four oh one K works,
let's just for simplicity's sake, A four oh one K
works very similarly to a superannuation fund, so it's basically
a tax structure. And then inside your fro one k
you would pick investments. Have you gotten a company to
do that for you or have you just gone and
(31:24):
been like, all right, I'm just going to pick like
an index fund and all my money goes in there,
Like what are you doing?
Speaker 2 (31:29):
From that side of things? So I think in the US, actually.
Speaker 5 (31:32):
It's the company picks which company they use. So my
company picks which company they use. To monitor it, and
then I can decide on how the investments are run.
Speaker 2 (31:44):
So I have kind of.
Speaker 5 (31:45):
Forty percent in a Vanguard Targeted Returns, I have twenty
one percent in a Vanguard MidCap Growth. I have twenty
percent in JP Morgan large cap, and then nineteen percent
in the Russell thousand index. So I picked how those
were positioned.
Speaker 2 (32:02):
Which is kind of similar.
Speaker 5 (32:03):
I know in superannuation, I also could pick whether I
wanted high growth, low risk, what sort of profile, whether
I wanted sustainable investments. So it's kind of similar, but
you don't get to pick which company use. The firm
picked twitch company I use.
Speaker 4 (32:18):
Yeah, And I find that so interesting because it's always
like you want full control, but then you also still
don't have full control. It's all very convoluted over there.
Tell me a bit more. Are you investing outside of
your four one K and your super or is that
not something that you're doing at the moment, Like what
are your thoughts?
Speaker 5 (32:35):
Yeah, so I invest, I invest. This is another My
life is very complicated. But essentially, when I first moved here,
I thought maybe I could invest in the US. It
turns out that I cannot do that because I am
not a permanent resident. I'm on an E three visa,
which is an Australian specific visa for the US, which
means you are not a permanent resident and you don't
(32:55):
wish to be a permanent resident. So I initially started
investing in the USA and then realized I could not
do that.
Speaker 4 (33:01):
Naughty, naughty.
Speaker 2 (33:04):
So now all of.
Speaker 5 (33:05):
My investments I have to transfer any savings back to
Australia in Australian dollars, and I use my Australian investment account,
so I invest in Australia. I have about seventy five
thousand dollars in that investment account in Australia.
Speaker 2 (33:18):
Oh look at you go?
Speaker 4 (33:19):
And how did you decide on what investments to pick
in Australia? Like that kind of makes sense, and I
kind of if I put my ex financial advice I on.
That makes me quite happy because I know you've got
like a good nest egg coming home too, right, And
we don't have to worry about the tax on that
because all of that's sorted. How did you pick the
investments inside that?
Speaker 5 (33:38):
Honestly, my brother is really interested in this, and so
I do what he tells me to do.
Speaker 4 (33:45):
Very sexy. That's exactly how my sister works.
Speaker 5 (33:49):
So he tells me I should have about half my
money in Australian companies and then the other half in
US companies to kind of diversify my portfolios. So I
have half of Minor Australian Index or ETFs, the other
half of US ETF or international or Global ETFs.
Speaker 2 (34:06):
I also have a very stupid.
Speaker 5 (34:08):
Investment in this fintech that I thought would go to
the moon.
Speaker 4 (34:13):
That's okay, that's fun.
Speaker 5 (34:16):
It's been about five years that I've had that and
they have not gone to the moon. And I don't
want to sell until I've at least made the money
back that I've lost.
Speaker 4 (34:23):
That's a bit like me. There was this biopharmaceutical company
that I got so excited about and I'm still holding
on hope. Like my husband sometimes goes, how's that going,
and I go, I don't want to talk about it,
but I will not sell those shares until I at
least break even. But it's coming up Millhouse, like it's
coming up one day. It's going to blow your boots
out of the water, like it's going to go to
(34:43):
the moon. A promise, but I won't tell anybody what
it is now, because I'm so embarrassed that I invested
money in this. I'm always like, bah, what a coincidence.
I forgot the ticker code I log in.
Speaker 2 (34:54):
It's so funny. I log in.
Speaker 5 (34:56):
Recently it had actually surpassed what I paid for it,
and I still couldn't sell them.
Speaker 2 (35:03):
I don't know.
Speaker 5 (35:04):
Maybe it's just like gambling energy in me. I was like,
they're going to go to the moon.
Speaker 2 (35:08):
They're going to go to the moon. I'm going to
make way more money they have not.
Speaker 4 (35:11):
So yeah, look I'm in that situation. I actually, just
as were talking, I googled the company and I bought
in at two dollars a year, which I was like, oh,
that's pretty good. It's two dollars a year. They're currently
sitting at thirty cents a share, so like, we're not
doing well, but you know what, I believe in them
for the lull.
Speaker 2 (35:29):
I'm actually just looking at mine as well.
Speaker 5 (35:31):
And I think when I bought them, I bought them
just after they IPO, and I bought them for a
dollar twenty five and I am now in the profit.
Speaker 2 (35:41):
They're at a dollar forty two today.
Speaker 4 (35:43):
So okay, look at you you're doing much better than me,
who's literally an ex financial advisor. This is why now
all of my money just goes into my ETFs, Like
I don't even think about it anymore. Like I used
to have direct share portfolio, which did well but was
too much work. And now I just play with this poor,
poor share and my ETFs and we're just going to
call it a day.
Speaker 2 (36:03):
I reckon, Yeah, me too.
Speaker 5 (36:05):
I don't have the time or capacity, and it's never
going to be my full time job. So it's ETFs
about it to focus on for me.
Speaker 4 (36:13):
Agreed, Now talk to me because debt is something I
want to discuss. You actually own an apartment with your
siblings back home, because only way that you could get
into the market. What kind of debt are you in
for that?
Speaker 2 (36:26):
So for that apartment?
Speaker 5 (36:29):
Believe the apartment was just under a million dollars, so
together and we put a twenty percent deposit down, so
I think together right now we're at about six hundred
and fifty thousand. There's three of us individually just under
three hundred I think two fifty each.
Speaker 4 (36:42):
And what do you think that that apartment is valued
at now?
Speaker 2 (36:45):
Like?
Speaker 4 (36:46):
Are we doing well? And tell me, like how do
you own an apartment with siblings without fighting?
Speaker 5 (36:51):
That's a really great question. It's certainly not without fighting.
And we all definitely do not have the same money
goals and the same kind of money values in life,
and I think that's been really challenging.
Speaker 2 (37:05):
I think the idea of owning an.
Speaker 5 (37:07):
Apartment with your siblings is like my mum's dream, right,
I'll look at my.
Speaker 2 (37:11):
Three children all owning an apartment.
Speaker 4 (37:13):
Together, so cute aspirational.
Speaker 5 (37:17):
It's certainly not been without its challenges. I think it
was challenging. Recently. We had a fixed three year interest
rate and it recently just changed to variable about a
year ago, and that went up from you know, our
mortgage repayments doubled and our tenant. We're not going to be,
you know, slimy landlords. I think all of us have
(37:38):
all been in our fair share of really terrible rental
living situations, so we really try to be more conscious
of you know, we had a letter from these two
lovely twenty year old nurses who wanted to rent the
place out, and we had an older couple who definitely
had more money, and we picked the two nurses cute
because we thought, you know, we've all been in our
twenties and not been able to find a rental property.
(37:59):
But we're not upping their rent in the way that
maybe other people are purely out of I couldn't do
that so purely out of the art, And I think
it's certainly not without its challenges because we're all in
very different stages in our.
Speaker 2 (38:11):
Careers in our money goals.
Speaker 5 (38:14):
One of my siblings is back at university. My other brother,
you know, earns quite a significant amount of money, and
so sitting in between that, we're certainly not in the
same values of money. We will never pay off this
loan at any rate bar the bare minimum principle and interest.
This is not going to be something that we're going
to be throwing money art. This is just a stable,
(38:35):
long term, thirty year investment that will just be paying.
Speaker 4 (38:38):
Yes, So the plan is to kind of like hold
it for the next thirty years. It's not to like
wait until it increases and then sell and use the
profits for your own home deposits or something like that.
Speaker 2 (38:48):
That certainly could be an option something we haven't talked about.
Speaker 5 (38:50):
What actually the dream is. It's one of four apartments
in an art deco.
Speaker 2 (38:55):
Oh, cute.
Speaker 4 (38:56):
Yeah, I actually love those as in an investment because
the rooms are bigger, usually tall ceilings, really sturdy brick,
so like not a lot of like maintenance, and who
doesn't want to live in an apartment in a small block.
Speaker 5 (39:09):
Yeah, so it's only four in the block. I think
our secret dream would be buy out all the other
three owners, who are all investment owners. Then you've got
a whole giant block of land in Sydney. But who
knows what's going to happen.
Speaker 4 (39:22):
We can manifest, we can dream, and.
Speaker 5 (39:27):
That would require all of us to have again another
deposit for another million dollar apartment, three more times in
the next thirty years.
Speaker 2 (39:33):
So you know, we could dream.
Speaker 4 (39:34):
Hey, I mean, if you've got a million dollar apartment
and you give it another five years, it's going to
increase in value. And then what we could do is
use the equity in your previous apartment to buy the
next apartment, and then we don't even need a deposit
ever again, and we just hop from one to the
next to the next, and we just use the equity
in each and then in what we do, we demolish
the apartments because that's obviously very ethical when it comes
(39:56):
to landlord's stuff, but we demolish it and then we
sell the land flex seven times what it's worth to
a developer who's going to put irise on it, and
then we're retiring.
Speaker 2 (40:05):
See this is why I needed to be on the podcast.
Speaker 4 (40:07):
Right exactly, because you're a property mogul. Watch out, guys.
We'll have her on the show in twelve months and
she'll be demoing apartments and developing.
Speaker 2 (40:18):
I'll be a flip person or whatever they call them.
Speaker 4 (40:21):
Honestly, I cannot think of anything worse. My husband and
I are talking at the moment like what's our next
property move, Like, you know, what do we want to do?
And I think we've both agreed like renovating probably not
for us. Like at the moment in this economy, every
person that we know, their renovation is either being pushed
out astronomically or it's going way over budget, and people
(40:41):
who are building from scratcher getting astronomical quotes. I'm like,
do you know what? We just need to find something
that's already built and call her today.
Speaker 5 (40:48):
Also, I guess my theory is like why is it
so ingrained in Australians that they need to buy property.
Speaker 4 (40:54):
The great Australian dream.
Speaker 2 (40:55):
Why is that the Australian dream?
Speaker 5 (40:57):
Now that I live in New York, I question it
every day because people spend their entire lives renting.
Speaker 2 (41:02):
They never have a care in the world about wanting
to buy.
Speaker 4 (41:04):
I mean, we can do a little bit of a
history lesson and maybe I'll chat with my producer and
do a whole episode on the aspect. It's because Australia
is a relatively new colonized country, right, So like technically
White Australia has only been around for two hundred years,
and therefore property was always something that was completely accessible
to us because of the amount of space that we
had versus the population that we had. And so like
(41:27):
you go back to like the US, you've always had
massive populations in small amount of spaces, so the ability
for people to own property is actually not within reach,
whereas historically, like we're hearing about our parents buying land
for like six thousand dollars, unheard of but actually within
reach for them. And now our population has increased so
(41:47):
much and the space is now the issue. Land is
not available in the way that it was historically, and
we actually need to be reframing what the great Australian
dream looks like because to own a property, is it
actually the Australian dream to die in debt for a
property that you never pay off, because that's the reality
for lots of people, and like it is really depressing
when you start talking about it. But I think we
(42:08):
do genuinely need to reframe what our goals are because
I would much prefer people to go, you know what,
property is not my thing the I actually just want
to be financially secure. I have some good investments, live
a good long life. I can rent the whole time.
But I also think that that means that our rental
process and our rental policies need to change as well,
(42:29):
because you're in the US right now, and I'm assuming
that you're finding your rental a lot more flexible than
the rentals in Australia. Like in Australia, you still can't
put things on walls. We need to apply to have
pets and all of that stuff is given. In fact,
in the US it's really normal to have like fixed
rate rent for ten years, and like that's not something
(42:50):
that exists here anyway. That's my little property rent No totally.
Speaker 5 (42:53):
I mean I'm looking around my apartment, there's stuff all
over the walls. We've got, you know, and that would
just not be possible in Australia and it's your home.
And on top of that, you know, I live in
an apartment. The apartment building has a dorman, a package room,
a elevator, you know, kids play area, gym and I
(43:14):
could see myself raising a family in this apartment. In fact,
it'd be a lot easier to do that when you
have those options, and it's not that much more expensive
than places that don't have that.
Speaker 2 (43:25):
It's so much easier.
Speaker 5 (43:25):
Imagine being able to go away on holidays and shut
your door and not be worried about gardening or any
of that. But that's just not They don't have properties
like that. They don't have as many options like that
in Australia.
Speaker 4 (43:36):
Yeah, and that's where we really need to reframe it, right,
And they.
Speaker 5 (43:38):
Don't think about like apartment living as a family.
Speaker 4 (43:42):
Yeah, one hundred percent. So money diarist, talk to me,
you've now, I guess said to us, I'm a B minus,
but I wasn't always. What do you think now is
your best money habit?
Speaker 5 (43:52):
I don't know if you've heard of rent the Runway, Yes,
I have so. Rent the Runway is essentially a clothing
rental business.
Speaker 4 (44:00):
You have something similar here is called like glam Corner.
Speaker 5 (44:03):
Yeah, but I think glam Corner is only like one
off items, right that you rent for a wedding or
something like that.
Speaker 4 (44:09):
Yeah, rent the wrong way like America is better, I
get it, but like kind of similar. Oh no, you
can do like your corporate wardrobe and stuff from them
now too, Like you can pick like a bunch of
items for like a month or something, which is kind
of cool.
Speaker 2 (44:21):
Okay, So that's exactly what it is.
Speaker 5 (44:22):
So I would say my best and probably worst buddy
habit is that I am addicted to shopping.
Speaker 2 (44:27):
I love shopping, I love clothes.
Speaker 5 (44:30):
And something that's really curbed my habit now is that
I do this monthly subscription. I get five items twice
a month, so you can have five items in your
wardrobe at once.
Speaker 4 (44:41):
Every two weeks, I'm getting new clothes.
Speaker 5 (44:42):
Yeah, and they pick them up from my door and
they drop them off at my door.
Speaker 4 (44:47):
Stop it. See that would never happen in Australia in
the same way I'm talking like these things are like
five hundred and six hundred dollars an item.
Speaker 5 (44:53):
I have five in my possession at all times. I
pay a monthly subscription fee, and it's the best thing
that ever happen to my shopping habits because shopping is
also so expensive here in the US. Now, I literally
don't buy any clothes except basic clothes, and I just
rent five items twice a month. It was amazing because
in winter, obviously I don't own any coats.
Speaker 4 (45:14):
You just rent some coats and have some really on
trend ones. What does that cost you per month?
Speaker 5 (45:19):
So I think it's one hundred and fifty US dollars
a month, which is a lot of money when you
don't own the clothes.
Speaker 2 (45:25):
But they give you a discount if you want to
buy them.
Speaker 4 (45:27):
Oh do they? I f You're like, oh my goodness,
I need to keep this in my wardrobe. You can
keep it because I think I'd fall in love with
so much stuff.
Speaker 5 (45:33):
Yeah, which I do sometimes, but I have to really
love something, and it gives you an option to, I guess,
trial it.
Speaker 2 (45:38):
See if you like the clothes before.
Speaker 4 (45:40):
Yeah, that's kind of cool, and like do you get
to try out lots of different styles and stuff like
that as well? That maybe you were like, oh, I
don't know, does this work?
Speaker 2 (45:48):
Yeah?
Speaker 5 (45:48):
Absolutely. I actually tried on a dress today. I wore
it to the office and everyone was like, you never
wear things like that. But it felt like in a
way of you'd ever wear things like that. Don't wear
something like.
Speaker 4 (45:58):
Oh, okay, yeah, I wouldn't like that. We're not putting
that back on there, go straight back to the shop.
Ten out of ten. All right, tell me what do
you think your worst money habit is that? Also the
rent in the runway, or like, is there something else?
Speaker 2 (46:10):
I have a few.
Speaker 5 (46:11):
I guess we've been speaking a lot in this conversation
about how I have so many bank accounts. I literally
have five bank accounts. I have two in the US,
I have two savings in Australia. I have a mortgage.
I have a mortgage offset account, I have superannuation. I
have four oh one k I'm saving money in both countries.
My life is very complex. So I would say that's
a bad money habit, but it's kind of unavoidable at
(46:32):
this point.
Speaker 4 (46:33):
That's okay, we can clean it up.
Speaker 5 (46:35):
The other one is Amazon shopping in the US is
so convenient and quick.
Speaker 4 (46:40):
Amazon shopping in Australia now, Like I am counting down
the days until they let us know when prime day
is because like I'm just live love laughing for that.
Speaker 5 (46:49):
I just the problem is it's so easy. You go
on the app and you you know, click click click.
All of a sudden, I've spent five hundred dollars on
things I didn't need and they arrive on your doorstep
the next day.
Speaker 4 (46:59):
Not good, but also kind of cool, right, Like, let's
reframe that. That's awesome accessibility or something. I feel like
you are doing better than you think you are, Like
we've had this great chat. You own property with your brothers,
which is really cool. You also, I don't know, having
learned a bit about how you grew up, you're like
I always saved money from my birthday presence growing up,
(47:20):
Like that's really sweet but also such a good money
memory all the way through to being made redundant, which
absolutely would have kicked your ego, which sucks. But then
also moving to the US, like you're on a banging
salary like that is so cool, and your plan is
to kind of like work up and then move home. Girl,
You've got so much planning, so much strategy, like I'm
so I just can't wait to check in with you
(47:40):
in like twelve months, two years see where you're at.
Do you actually think that B minus is right or
what do you think it would take for you to
maybe get to an A?
Speaker 5 (47:48):
I think B minus probably sounds a little harsh. I
feel like I am definitely someone who won't speak highly
of the things that I've done. I think I'm very
proud of where I am today.
Speaker 2 (48:00):
Probably be a B plus.
Speaker 5 (48:01):
There's certainly room for improvement, a lot of cleaning up,
less complexity in my life, but I'm very proud of
where I've cut from and where I'm going.
Speaker 4 (48:08):
I feel like you're on the right path, like you're
absolutely killing it, and I'm very excited for you. I've
adored this. I feel like if you were back in
Australia we would be best friends. So you let me
know when you move home and we can organize drinks
and talk about how much Starbucks is in America and
how that's an absolute raught. But unfortunately we've run out
of time. So thank you so much for joining us.
(48:30):
I just know that the community is going to love
this like I've loved this, and I just know they're
going to love learning about you and learning about what's
going on over the other side of the world, and
just it's such a privilege to be let into people's
money lives on such a regular basis, so I really
appreciate it.
Speaker 2 (48:44):
Thank you.
Speaker 4 (48:52):
If I shared on She's on the Money is generally
nature and does not consider your individual circumstances. She's on
the Money exists pure for educational purposes and should not
be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial advice tailored towards
(49:12):
your needs. Victoria Divine and Sheese on the Money are
authorized representatives of Money sherper p t y lt D
A b N three two one six four nine two
seven seven zero eight AFSL four five one two eight
nine
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