February 25, 2025 • 38 mins
If you’ve ever wondered "Should I pay off my mortgage or invest?" or "How do I even find a good financial advisor?" this episode is for you! We’re putting financial advisor Daisy Magor in the hot seat, tackling the biggest money dilemmas our community is facing right now (in a way that actually makes sense).
🔥 Should you pay for financial advice using your super?
🔥 Why do different advisors give completely different recommendations?
🔥 What’s the biggest money mistake even smart people make?
🔥 Is debt recycling as good as TikTok makes it sound?
🔥 Is leasing a car ever a good idea?
And we've got even more of your questions. Plus, if you've ever thought about becoming a financial advisor yourself, Daisy shares exactly what it takes!
Find Daisy and the Everest Wealth team here.
Our last episode with Daisy, What to Expect When Meeting a Financial Advisor is here.
P.S. We’ve got more Q&A episodes coming up, so if you want your money questions answered, make sure you’re following us on Instagram—that’s where we do our call-outs for listener questions!
Acknowledgement of Country By Natarsha 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.
See omnystudio.com/listener for privacy information.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
the Order Kerni Whalbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming
(00:22):
through as this podcast is about connecting, empowering, knowledge sharing
and the storytelling of you to make a difference for
today and lasting impactful tomorrow.
Speaker 2 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 2 (00:57):
Hello, and welcome to She's on the Money, the pods
where no money question is too big, too small, or
too embarrassing to ask. I'm Victoria Devine. And if you've
ever found yourself stuck on a money decision, whether it's
picking the right financial advisor, paying off debt or investing,
or figuring out what to do with a lump sum,
my friend, you are in exactly the right place, because
(01:19):
today we're going to be answering your biggest financial questions
and breaking it down judgment free of course, and to
help me is someone our community loves and is obsessed
with and begged me to bring back. And I'm a
girl that likes delivering. You've quickly become a very integral
part of the She's on the Money family. Miss Daisy
(01:42):
Major from Everest Wealth, Welcome back to the show.
Speaker 4 (01:46):
Thank you for having me again. I'm very excited.
Speaker 2 (01:48):
Oh I'm so excited. But I think my favorite thing
ever is like I get dms all the time and
they're like, hey, so I just listened to Daisy's episode
and I'm like, that was ages ago. If you've got
her email, I'd love to talk to her. This is
the best thing ever this time round, though, Daisy, we're
mixing it up. Instead of just talking about financial advisors
in general and what they do and how they do it,
(02:08):
I've actually decided to turn the tables and we have
asked you guys to send in a heap of your
biggest money questions, and there were some good ones and
you get to answer them. I feel like we've got
an ex financial advisor and a financial advisor just answering
people's dirty dms. Gonna be great now. I wanted to
start by saying that we had heaps of questions come
through about what it's actually like to see a financial advisor,
(02:31):
like how to choose the right one, what happens in
the first meeting, and how much it costs, and if
that's something that you are currently wondering. I actually recommend
going back to our previous episode with Daisy because it's
basically a step by step guide of exactly what to expect,
and I've linked it in the show notes so that
you're able to check it out. But that was a
good one. That was our first one we tested the
(02:52):
waters together. Yeah, but let's dive straight into I guess
the proper questions, Daisy. Our first question is from a
community member who's going to see a financial advisor and
thinking about paying for it from their superannuation. A lot
of people don't know that you can actually do this,
so can you explain I guess how that works and
whether it's something that you would actually recommend as a
(03:14):
financial advisor.
Speaker 4 (03:15):
Yeah, absolutely so. Most super funds in the market will
allow us to charge your fee. Some definitely don't, but
most to do in the market. I suppose there's a
few reasons as to why we would recommend that you
do charge through super one of them is that you
do get a fifteen percent tax reduction through the SUPERFI
very sexy, yep. So it makes it fifteen percent cheaper
for you.
Speaker 2 (03:36):
It's like a discount code, but you just have to
use you Super.
Speaker 4 (03:38):
And then Yeah, for a lot of our clients that
we see, it means that there's more money that they
have to invest, pay off debt, keep in cash for
a house deposit. But I suppose one of the big
caveates is that we can't charge everything through Super. We
have to meet what's called a sole purpose test. So
that just means that we have to charge a percentage
through Super of the percentage of advice that we're providing
(03:59):
around your super fund.
Speaker 2 (04:00):
Yeah, and I don't know if you do this, but
all the way back in the day when I used
to be a financial advisor, sometimes as a part of
our strategy, we would recommend that clients made an additional
contribution to their super to pay for their advice because
at tax time they get a deduction on it. So
we're not just talking about using I guess your super
fund savings or your super fund investments to pay We're
(04:21):
talking about using that as a tool to pay and
get a refund. But then also if you don't have
the cash for financial advice but you like really need it,
that's also an option.
Speaker 4 (04:31):
Yeah, one hundred percent. And there's definitely talks at the
moment around making our fees tax seductible personally, so that
will definitely change kind of how we propose it to clients.
Speaker 2 (04:39):
So sexy, it would be life changing, Like go see
an accountant, tax deductible, go see a financial advisor. We
literally can't let you claim your statement of advice on
tax at the moment, and that makes no sense. Like
at a deeper level, the government is benefiting when people
are individually taking care of their own retirement. Yeah, why
(05:00):
wouldn't you make that more attractive for us?
Speaker 4 (05:02):
Yeah, And it's just really strange how there's different tax
laws with super compared to personally around this, So like
the super funck can claim the tax deduction, but where
you can't personally. Doesn't really make a heap of sense.
But hopefully they.
Speaker 2 (05:13):
We don't make the rules. We're just playing within the
rules and we're helping you understand them. So next one,
I've got one of our community members shared how she
saw two different financial advisors and then got two completely
different sets of advice from each of them, which is
obviously relatively confusing. What do you think about that? And
how can someone tell which advice to follow? And I
(05:36):
would say, more importantly, how do you know who financial
advisor is even good?
Speaker 4 (05:40):
We definitely see people that come to us who are
seen a financial advisor before, and maybe our advice is different.
A lot of it lands on kind of the advisor's philosophy.
Some maybe more pro property, some maybe more pro the
share market. But I suppose what I recommend for people
is that they try and find a financial advisor that
deals with people that are in kind of their similar situations.
(06:01):
So I wouldn't recommend a twenty eight year old single
female go see a pre retire advisor, Like you want
to be dealing with somebody that deals in your realm
and is used to providing advice in your area.
Speaker 2 (06:13):
I think that's why you're so popular with our community, Daisy.
Speaker 4 (06:16):
And then yeah, I suppose, like how you know an
advice is good? I mean, there's plenty of different websites
where there's advisor ratings on there.
Speaker 2 (06:23):
Just ask me, are too?
Speaker 4 (06:24):
And that's what I saying, Go the she's on the
money community, and yeah, Google reviews things like that, and
I suppose a lot of advisors do provide that free
of charge initial meeting and it's just really like you
get a vibe check pretty quickly.
Speaker 1 (06:36):
But for that.
Speaker 4 (06:37):
Community member that's received kind of contradicting advice, it will
definitely be kind of what feels better in your gut
as to which one you would go with. I mean,
we have a best interest duty that we need to
provide to our clients. I wouldn't say necessarily one's right,
one's wrong.
Speaker 2 (06:51):
Yeah, I was gonna say this sounds relatively strange because
financial advice, we know isn't cheap, and to get two
pieces of a advice that's a relatively expensive task. Like
I might hold on, what are you doing? But I
would say, and I love saying on the podcast when
in doubt, zoom out, but like, let's look at the
bigger picture. It might be completely different like asset recommendations,
(07:14):
but like where are you going to land in the future,
Like what's the big picture here as opposed to what
is the like short term picture because you might go,
oh my gosh, I don't have enough information here. But
like this particular advisor suggested property and direct shares, and
this other one said, oh more, you know ETF based portfolio.
There's actually not a right or wrong. There's what that
(07:35):
advisor is more comfortable with. And like, if I go
back to when I was a financial advisor, I dealt
a lot with direct shares, So like I would construct
portfolios for clients made of eight to twelve, I would
say basic shares that we had constructed and spoken about.
But then I would have girlfriends who were also financial
advisors and they're like, oh my gosh, Victoria, I know,
(07:57):
absolutely not, I just do ETFs or you know, another
financial advice is like, oh my god, no, Like I
work for a financial advice firm that also has buyers agents,
and like we do a lot of property. Like that
doesn't mean that you're worse off from any We all
just have different methodologies and honestly interests. Like I loved
that share side of it took me longer, but it
was like something that I was passionate about. So I
(08:19):
think it's important to remember that it doesn't mean it's
wrong one hundred percent.
Speaker 4 (08:22):
Yeah, And as long as they've met your goals, explain
the advice to you then yeah, I think you really
just go with your guart there.
Speaker 2 (08:28):
All right, we have a lot of questions from our
community about lump sums and you know, choosing between I
guess two different financial options like do I pay off
my HEX or do I start investing? Or do I
put extra money into my mortgage or my superannuation? Or
do I start saving for a house Daisy, or should
I just you know, go and buy an ETF What
(08:49):
does that look like? These decisions, I would say, are
not one size fits all. So how do you actually
work out what the hell is best for you?
Speaker 4 (08:58):
Yeah? So I think a lot of it comes down
to your goals and your time frames as well as
kind of where you're at in life. So in terms
of paying off your help debt compared to investing, I
mean with the changes with help indexing at CPI or
wage growth compared to investing in the market, Like investing
in the market historically is done seven to ten percent,
whereas putting a lumpsom off your HEX could be two
(09:20):
to three percent. But then I suppose if you're looking
at buying your house, like you may need to pay
off some of your help debt. Hopefully again that changes
with what the government's proposing. But like that may be
a consideration that we take into overall goals in terms
of kind of putting money in SUPER compared to paying
it off your mortgage. That could depend a lot on
where you're at with your life stage. So if you're
(09:42):
getting closer to retirement age, closer to when you can
access your SUPER, it may make a lot more sense
to put money into SUPER, and then it's in a
more tax effective environment. Whereas if you're planning on starting
a family and need to kind of pay down your
home mortgage or pay off some of your debt quicker,
then it might make more sense to put it into debt.
So there's not really a one size fits old.
Speaker 2 (10:02):
There, and it's all about like strategy as well.
Speaker 4 (10:05):
It all links back to your goals and where you
want to be, what you want to be doing, and
also your time frames. Because if you came to me
and said, hey, Daisy, I want to buy a house
in eighteen months, I'm going to chuck all my money
in the share market for my.
Speaker 2 (10:17):
Deposit, terrible idea.
Speaker 4 (10:18):
Bye, Yeah, don't do that. The volatility that comes with
that just isn't worth it. And maybe SUPER boring, but
it's just keep it in cash, like you know that
that's safe.
Speaker 2 (10:26):
Sometimes the most boring answer is the one exactly.
Speaker 1 (10:30):
Yeah.
Speaker 2 (10:30):
Yeah.
Speaker 4 (10:30):
I have clients that come to me and I'm like, look,
keep it in cash, and I'm like, I know that
it's boring.
Speaker 2 (10:35):
It's a very unsexy answer.
Speaker 4 (10:37):
It's very unsexy.
Speaker 2 (10:38):
But I mean, we can find a high interest savings count. Yeah,
that could be fun, but yeah, don't invest it if
it's a year.
Speaker 4 (10:45):
There's not one size fits old for that answer, but
it's just working around kind of how much we can
allocat in each area?
Speaker 2 (10:50):
Really can I ask perfect questions? Is that allowed?
Speaker 4 (10:53):
Absolutely?
Speaker 1 (10:54):
I like this.
Speaker 2 (10:54):
Do you still have a hex step?
Speaker 1 (10:56):
No?
Speaker 2 (10:56):
Oh, I'm very envious.
Speaker 1 (10:59):
I do.
Speaker 2 (10:59):
It's really I want to know, did you have a
hex stet?
Speaker 4 (11:03):
I was blessed, single child odess?
Speaker 2 (11:06):
Okay, well, in that case, hypothetically, if you had a
hex step.
Speaker 4 (11:10):
My husband still has a hex stet.
Speaker 2 (11:11):
Okay, all right, let's talk about him. Let's talk about here.
Are you guys paying that off at more than what
the base repayments are?
Speaker 1 (11:20):
Oh?
Speaker 2 (11:20):
So you're not adding extra contributions as the financial advisor? Interesting?
All right, next question someone has asked, as a financial advisor,
what is the most common mistake you see people making
with their money?
Speaker 4 (11:34):
I suppose for me, it's not understanding their cash flow,
so not understanding what's coming in, what's going out, not
understanding kind of yeah, where they're surplus or where they're
going to direct their money, and they sit on it.
And it's that whole analysis paralysis thing where they sit
on it. They know they need to do something with it,
but it's like there's so many options that I don't
(11:54):
know where to start, and it's kind of taking that
first step and it may be the wrong one, but
at least taking a step in one direction means that
you're not just sitting there stagnating doing nothing. Yeah. But
then also understanding where your money's going each pay cycle
is something that like people don't really understand, so then
they don't kind of seek advice or take that first step.
Speaker 2 (12:18):
Yeah. And I feel like that analysis paralysis is a choice.
Like I'm not saying it's an easy choice, like we're
just burying our head in the sand, but like not
making a decision is still a decision one hundred percent, Yeah,
and we need to just like move past that and
especially women. We're so won't take bad but we're just
so good at going oh great, I'm ready, and then
(12:41):
you hear one word that you're like, I'm gonna have
to start again. I'm going to have to do some
more research, or like you've finally made a decision, maybe
you want to buy a house and you've picked, and
then a friend is like have you thought about and
you're like, oh no, I don't know anything. And I
think we don't back ourselves in our own research and
making a decision that's right for us because we're so
good at crowdsource. Like we've got a problem, we take
(13:01):
it to the community. But also sometimes we just need
to be a little bit insular and run our own race.
And that's me really important, Daisy. This has been so
good so far, but I really want to go to
a quick break because I feel like I need a breather,
a little cup of tea. After the break, we're going
to dive into a topic that a lot of people
(13:22):
were really curious about, and that is debt recycling. So
we're going to discuss what it is, how it works,
why it might actually be a strategy that could work
for you. So guys, don't go anywhere, all right, Welcome back,
my friends. We have Daisy from Everest Wealth talking all
(13:42):
things finance, answering all of your questions and a lot
of people in our community. Daisy, they were like, what
is debt recycling? I feel like it started to trend
a little bit on TikTok and they're like, hold up,
what is this? How does it work? Can you break
it down for us? What is debt recycling? What are
your thoughts on it? Is it a good strategy? Who
could this work?
Speaker 4 (14:02):
For? One hundred percent? Yeah, I do agree with you
that it's definitely become a lot more prevalent question, mainly
due to the tiktoks and stuff that I'm seeing.
Speaker 2 (14:10):
So I love when a client would bring like an
Instagram video or something. You're like, look, I've seen this,
and I'm like thinking, yes, same, but mine was at
eleven PM. I'm not going to mention that.
Speaker 4 (14:19):
No, one hundred percent, So try and explain it as
simply as possible. But it's effectively that you're taking your
non deductible debt, so your home mortgage, and kind of
redrawing on that and turning it into deductible debt. Which
you then normally invest in the share market. Say that
you have two hundred grand home mortgage and your house
is worth eight hundred grand, you could effectively pull out
(14:41):
one hundred grand of your equity yep, equity and turn
that into effectively an investment loan, which then means that
the interest on that one hundred grand investment loan becomes
tax deductible for you claim it on tax. Yes, and
then you would invest that normally in the share market,
which then has Stori has done kind of seven to
ten percent, and use the returns on that normally to
(15:04):
then pay off your home loan.
Speaker 3 (15:06):
Quicker.
Speaker 2 (15:06):
That sounds relatively sexy, Yes, and at the moment all positive.
Speaker 4 (15:12):
Yes.
Speaker 2 (15:12):
So it's a strategy that you implement as a financial advisor.
Speaker 4 (15:15):
It's a lot more risky than just taking ten grand
and putting it in an investment portfolio. So I suppose
because you're leveraging or taking out debt to then go
invest in the share market. Obviously, the share market comes
with volatility, like we don't have a crystal ball, we
don't know what it's going to do. But you're still
going to have those debt repayments to pay. So I
(15:36):
suppose it's really a strategy if people have a large
surplus each year, so usually like twenty to thirty grand
surplus already before the investment loan is taken out, and
they understand the risk that comes with it, Like it
is one of the more higher risk strategies that we
implement for some clients, and a lot of people just
(15:59):
think it's kind of free money that they can take
out and invest without understanding the implications.
Speaker 2 (16:04):
Of having integration strategy.
Speaker 4 (16:06):
Yeah, yeah, it can definitely work well in a tax
production strategy, but yeah, there's certainly a lot of risks
that come with it that maybe a lot of those
tiktoks don't really exploring.
Speaker 2 (16:15):
Those tiktoks drive me batty. Most finance content on TikTok
drives me insane because I just look at it and go,
oh my goodness, Like I know that you have just
learned this and it's a very sexy thing, but you
haven't taken this into consideration, or haven't talked about capital
gains on that and actually brings that down and doesn't
make it as an attractive opportunity as you're saying it is,
or you haven't spoken about the fact that you have
(16:39):
to pay tax on that income.
Speaker 4 (16:41):
Yeah. Yeah, And a lot of people they come to
us and they really want to implement this strategy, but
they may not have a cash surplus.
Speaker 1 (16:48):
Yeah.
Speaker 4 (16:49):
And it's like a lot of people believe were drawing
equity from their house just means free money without actually
understanding the implications of doing that. But yet it certainly
has worked in some clients cases, and like they fully
understand it and they have the surplus and they want
that tax reduction. But a lot of clients, once we
actually explain it and run through it with them, they're like, oh,
(17:09):
that's too risky for me.
Speaker 2 (17:10):
Yeah. I found that when I was a financial advisor,
I did use it for a few clients. It wasn't
something that I recommended consistently, again because it was relatively
high risk, Like you know, you do your client risk
profile and you know you're only really even talking about
this that they come back as a high risk client
to begin with. But I found that younger clients with
(17:31):
really high incomes and debt it worked really well for yeah,
because you know, I'm just thinking of this one client.
I used to have a couple, both lawyers, really really
like career driven no kids, no plans for kids, and
you were like, Okay, cool, this is going to work
really well because you guys are just saving so much
money anyway, and we also have another thirty years in
the share market, and like our plan was to do
(17:54):
that essentially extinguish all of that debt. I think it
was like more than like fifteen years earlier because of
that strategy. But it was a privilege, Like it wasn't
a oh, yeah, you can do this and it's going
to be better for you financially. It was like, because
they had a lot of money, we could do that
because if at the end of the day they were
stretched for cash, I knew they were sitting on way more.
Speaker 4 (18:16):
Yeah, and one hundred percent like the clients that I
can think of that have implemented a very similar situation
where they're both high income earners, no plans for children
or career breaks. So yeah, it definitely has made sense
in those scenarios.
Speaker 2 (18:28):
I think we're on the same page about who we
would recommend that for. Yeah, or right, let's flip the narrative.
We're no longer talking about houses, We're going to talk
about cars. Car leasing is one of those things that
sounds good in theory. You get a new car, no
upfront payment. Very nice. Maybe I'll get myself a NACA.
But is it actually a good financial move? What are
(18:49):
the pros and cons? And who does this make sense for?
Speaker 4 (18:54):
Yeah, definitely, so car leasing is one that pops up
a lot. I suppose the first discussion, is you even
need a new car?
Speaker 2 (19:01):
Is we don't humble us.
Speaker 4 (19:03):
That's all we have with people because you buy a car,
and yeah, it's kind of a spent expense, but you
do need a car to get around.
Speaker 2 (19:10):
So I agree. I'm going to sidetrack this for a
hot second. Do you buy brand new cars as a
financial advisor?
Speaker 1 (19:16):
No?
Speaker 4 (19:17):
No, I know, Like why I don't know. It's that
whole thing of as soon as you drive out of
the dealership you lose, Like we just can't do it.
Speaker 2 (19:25):
Yeah, I bought my car secondhand too, don't worry, Like,
I'm not saying that I bought a cheap car. Like,
don't get me wrong. I want to be really clear
that I'm not pretending that's a super budget decision, but
I'm definitely not spending the extra money like someone else.
You drive it, you make the loss. I make the game.
Talk to me about why people think that leasing a
(19:46):
car is a good idea if they've decided that a
new car is in line with their goals and their values.
Speaker 4 (19:52):
So people see, as you said, they don't have to
fork out that big lump some payment to start with,
and they can just kind of have some money come
out of their salary each fortnite without understanding kind of
the balloon payment at the end.
Speaker 2 (20:06):
Of the balloon payment.
Speaker 4 (20:08):
So yeah, a lot of people don't understand that. Yeah,
you're paying money each fortnite or each pay cycle pre
tax and post tax, but every lease has a balloon
payment at the end of it, depending on how long
the lease is for, depending on how big the balloon
payment is, but it's usually a fair summer money.
Speaker 2 (20:22):
It's usually like thirty or forty percent yeah, one hundred
car's value.
Speaker 4 (20:26):
Yeah, so then it's planning for that. So then you're
receiving lesson your pay each fortnite, but then having to
save money for this balloon payment at the end of
the lease unless you roll it into a new lease.
So balloon payment is number one that we highlight. Two
clients that are looking at a lease, usually the in
bill interest rate is a lot higher than other loans
(20:47):
that you could get for a car, and there's usually
an admin fee that the leasing companies charge as well.
Speaker 2 (20:53):
So sneaking, aren't they know? They know what they're doing.
Speaker 4 (20:56):
Yeah, so they will present to you how much the
tax saving is and all of that, And again that
looks really sexy, but if you actually drill down into it,
you kind of look at comparing it to a personal loan,
redrawing on your home mortgage if you can, or using
cash for it, it usually ends up kind of better
(21:16):
off doing one of the other options over leasing. I
suppose there is a caveat to that though, for electric
vehicles or plug in electric vehicles, so I'm not talking
about hybrids or anything.
Speaker 2 (21:27):
This wasn't around when I was doing advice.
Speaker 4 (21:30):
Tell me for evs or plug in evs with leasing,
it just means that you can take one hundred percent
of the lease payment pre tax. Sorry what yeah, posts
comes out except I don't like Elon, I don't want
to buy a Sesler, That's true, there's plenty of other ones.
Speaker 2 (21:49):
I don't know enough about cars to have a proper
opinion here.
Speaker 4 (21:52):
So yeah, that for high income earners definitely has shown
a better result. But I suppose, yeah, you need to
want an or a plug in EV and understand the
costs that come with that. But in those cases when
we've done the numbers, it has actually worked out better
off taking a lease. But yeah, they're kind of far
and few between.
Speaker 2 (22:11):
That is good to know, and I feel like so
many people are like, oh, I'll just lease it, as
though that's a flippant decision, but long term could actually
cost you so so much more. I want to flip
the script again. So with cars, we've done homes, now
we're going to do education. Education bonds aren't talked about
as much as other investment options, but a few of
(22:31):
our members have been relatively curious recently. I think potentially
because I have been talking a lot about investment bonds
because that's something that I invest in and something that
I have been using. But a few of our community
members want to know what are they, how do they work?
Are they actually a good strategy for saving for kids education?
Speaker 4 (22:50):
Yeah? Absolutely, And I feel like I'm getting a lot
more education bond questions. So again that might be coming
from tea top.
Speaker 2 (22:56):
We're all in the same era right now. We're thinking
about having kids, or we've just got kids, or like
we're all growing together.
Speaker 4 (23:03):
Yeah, one hundred percent. So an education bond is effectively
a tax structure similar to an investment bond, where the
tax is paid within the bond, but then there's an
additional education bond tax saving on top of this. With
an education bond, they operate quite similar to an investment
bond like you that put in a lump sum or
put in a regular amount each year, but the purpose
(23:24):
of it is for the beneficiary's education. So whether that's
schooling tertiary, there's no requirement for it to be one
over the other. I suppose a lot of people do it.
If both parents, say are high income earners, grandparents want
to set up for their grandchildren, they will do it
because it is taxed internally. So if I set up
(23:45):
an education bond for one of my children, like nothing
would be taxable in my own name. It's all taxed
within the bond, which is sexy. Yeah. So a lot
of people ask, well, what if my child doesn't go
and do tertiary education, what if I end up sending
them to my local public school instead? Can I take
the money out? The answer is yep, absolutely. The amount
(24:06):
that you're putting in each year, or if you put
in a lump sum, you can take that out tax free.
It just depends on how long you've had it in there.
For the earnings that has accumulated in that account as
the wather, you can then pull that out tax free. Yeah,
it can be a very tax beneficial way of saving
for your children's education. We mainly implement them for high
income earners, where if there's two parents, one maybe on
(24:30):
a lower income, not planning on kind of returning to
work full time until the kids to finish school, it
may make more sense to set up an investment account
in their name for the kids' education, for example. So yeah,
again they come with additional admin fees and stuff like that,
but yeah, they can be very beneficial in some cases.
Speaker 2 (24:48):
If you had kids, Daisy, what would your plan be
when it comes to investing for them?
Speaker 4 (24:53):
I would probably set up in an education bond, just
purely due to my situation. But yeah, I suppose if
I wasn't planning on working kind of full time when
I had kids in school, then I'd probably look at
s someting something up in my own name.
Speaker 2 (25:06):
Not see that happening, I know, you well enough to
know she's gonna be a working mum guy.
Speaker 4 (25:10):
Yeah, definitely, But like there are so many other options
as well, so like.
Speaker 2 (25:15):
Oh, there's six million, and I feel like I'm thinking
about it now I have a baby, and I'm like, well,
what do I do? And we ended up going down
the investment bond route because it just worked best for us,
and I like the flexibility afforded with it, and like,
I just didn't want him to in the future feel
like he was being pressured down the education pathway. And
(25:35):
don't get me wrong, like love education, but I don't
know who he is yet or like what he's going
to be interested in or who he wants to become.
And I just was like, oh, I like the idea
that that could benefit him in a number of different ways.
But do you have clients picking between an education bond
or an investment bond? Is that a conversation you have often?
Speaker 4 (25:55):
Yeah, definitely, And I suppose a lot of people probably
feel similar to you, where they don't necessarily want to
put it into an education bond if they don't know, like, yeah,
what their child's going to be like longer.
Speaker 2 (26:05):
There's extra benefits for sure.
Speaker 4 (26:06):
Yeah, there's definitely actually benefits. And I suppose like some
people do come to us and they're like, Nope, I
want to send my child to the school that I
went to. I know it's going to cost me thirty
grand a year, and I want to say for that,
and that's like a no brainer in that situation if
both parents are high income earners, whereas some people are like, oh,
I may move house into a better catchments than they
(26:27):
may go to a public high school. I don't know
really if they're going to do any tertiary education.
Speaker 2 (26:32):
I just don't know.
Speaker 4 (26:33):
Yeah, so if the unknowns are there, then yeah, probably
an investment bond would be more beneficial if you're pretty
set on what your child's education is going to look
like than an education bond.
Speaker 2 (26:45):
Maybe. Yes, smart, good chat. I feel like that one
is a good topic. Let's talk about singles. Do you
have any advice for our listeners who are currently going
you know what, money is really hard at the moment
I am single. What would you say?
Speaker 4 (27:00):
What do you do?
Speaker 2 (27:01):
I know you give advice to single women all the
time because I keep sending them to you.
Speaker 4 (27:05):
Yeah, so I suppose a lot of people are worried
about seeking advice as a single person because they feel
like maybe they don't have the cash flow there or
something like, they feel like as though they need dual
income to be able to kind of do anything with
their finances, which is just absolutely not correct. So, as
you mentioned, we see a lot of single females mainly
(27:26):
who just want to kind of take a step in
the right direction. So like, coming and seeking advice shouldn't
be scary.
Speaker 2 (27:34):
You actually are quite scary. So I don't know, Well,
a lot of people do say that, I don't do
they Actually I don't find Daisy scary. I find Daisy
lovely and you should definitely talk to her.
Speaker 4 (27:46):
No, maybe you can ask my husband that, but I
don't ask my.
Speaker 2 (27:48):
Husband about opinions if that's who we're going to.
Speaker 4 (27:51):
But no, seeking advice as a single person shouldn't be scary.
We do it all the time, and just making a
few small tweaks can mean that, yeah, like you can
reach a few of these goals. I mean, so many
single females that I see they're worried about, like investing
in the share market, having stability, having like a bit
of a nest egg there as an emergency fund. So
(28:11):
we work through all of that, and like we understand
there's a single income, We understand all of that. But
even like little things like putting in place some insurance,
looking at their super, making sure they have a will,
all of that is all part of what we do
as financial advisors and assist with. So like, at least
then you're ticking off a few things.
Speaker 2 (28:30):
That make me miss my job. I am very envious.
I'm not gonna lie. I do like this a lot.
But you know when someone's like, oh yeah, also I
do this, I'm like, ah, what did I do when
I get out of that? All right, let's talk about
like obviously, being single, there's a lot of pressure, but
there's also a lot of pressure as you feel as
though you're getting older and you might have missed the
(28:51):
boat or you like haven't done enough. And actually a
lot of our community members wrote in and said that
they were feeling like it's a little bit too late
for us, like I don't know if it's even worth
trying to start to build wealth, or like is it
only worth just investing in my super because like I'm,
you know, getting really old and I think I've missed
the boat. What's your advice there.
Speaker 4 (29:12):
You're absolutely never too old to start and put in
place some good money structures. Yeah, And it may be
let's struck it all into super because you are getting
closer to retirement age, but at least you know that's
the right the right decision, yeah, or it might be yeah,
just having a discussion around all right, let's smash down
the mortgage so that, Yeah, you can retire early if
you want to. But you're absolutely never too old to
(29:33):
get advice. You're never too young to get advice either.
That's what I see quite a bit is, yeah, they
feel like we should have done this ten years ago.
I'm like, yeah, but you're doing it now. So that's
great because in five years time you would have gone, oh,
I should have done it fifteen years ago, whereas it's like,
don't worry about that. We're doing it now and we
can still make some really good changes and mean that
kind of long term you are going to be better off.
Speaker 2 (29:54):
Yeah, And like, don't get me wrong, you're not going
to see the same compounding impact in the over forty
years has totally but you're still going to see some
of that. Like, yes, it's not going to be as
dramatic as the Instagram pictures or you know the examples
that I sometimes use on this podcast. But like, even
(30:14):
if you've got three or four years before retirement, you
are literally going to be tens of thousands of dollars
better off because you're making changes now, and I can
promise you few to you, even if it's a five
thousand dollar difference, a ten thousand dollar difference, like just
because it's not hundreds of thousands of dollars, I promise
you're going to be so much more comfortable just having that,
even if it's like structuring your emergency fund for what
(30:38):
that looks like, and making sure that we can get
a pension, and making sure that we can do all
of the things that give you a comfortable life. Like
I promise you it's not too late, because the worst
thing is getting to the very end of your career
and going I would like to retire tomorrow and being told, oh, actually,
like if you'd come five years ago, we could have
structured you so that you're retired today, going to take
(31:00):
another five years, Like let's just get it together, yeah,
because no one regrets having a few more dollars in
their account.
Speaker 4 (31:06):
Yeah, And it's getting people that peace of mind and
knowing what the future looks like as well, because yeah,
as you said, if you're three four years off retirement,
you want to know that that is achievable. You don't
want to be like that person who comes and says
I want to retire tomorrow and then it's like, no,
it's going to be a few more years.
Speaker 2 (31:22):
Yeah, exactly.
Speaker 4 (31:23):
So, yeah, you're definitely never too old to seek advice.
And yes, I said, you're never too young either.
Speaker 2 (31:28):
I feel like I've learned a lot about that obviously
when I was an advisor, but now even in the
She's on the Money community, people ride in and they're like,
oh my gosh, Victoria, I'm in my seventies and I'm like,
slay queen. Yeah, like that's so cool. All right, We're
running out of time very quickly. But finally we had
a few people ask Daisy, your job sounds really cool.
How do I also become a financial advisor? And do
(31:51):
you have any advice for anyone who's like, oh, maybe
that's a career pathway for me.
Speaker 4 (31:57):
Yeah. So I suppose a little bit of history of
why I got into financial advice was that I wanted
to help people, So I really wanted to help care
for people, but I didn't want to go into the
medical field.
Speaker 2 (32:07):
So I was like, I thought I wanted to be
a doctor, and I realized you actually have to do
like blood and guts and stuff. Yeah.
Speaker 4 (32:12):
Yeah, so very similar to me where I was like,
I want to help people. I want to make sure
that yeah, I'm doing something good for people, but I
didn't want to go into the medical field. So I
was like, I can help people set themselves up, feel
good about their goals, know they're going to reach them.
I suppose becoming a financial advisor, there's definitely some education
requirements now, which is awesome. So yeah, there's relevant degrees
(32:34):
that you need to do, as well as potentially some
post study as well as a financial advisor exam and
a professional year. Sounds very overwhelming and daunting when we
say it like that, but I suppose find a financial
advice practice that has a really good grad program. Yeah, so,
like we have three graduates at the moment that we're
(32:55):
working through very structured graduate program, so they feel as
though they're growing in their role or they feel as
though they're learning all the different aspects. Cool.
Speaker 2 (33:02):
I remember when it was just the boys, and now
you've got three graduates. What are you talking about?
Speaker 4 (33:07):
Yeah, So, like when they came and interviewed with us,
we laid out that graduate structure and we were like, look,
this is where you're going to be if you stay
with us, if you want to move as quickly or
as slowly as you want to finding a good financial
planning practice that has some structure in place to make
sure that you are growing and are hitting those milestones.
Because I interview so many people that have been in
(33:30):
financial advice for a few years and they're like, I
just feel like I'm stagnating in my role. I feel
as though I'm not going to be able to start
my professional year, or I feel as though even if
I started that it's going to take me a few
years and I'm not going to have the support there.
Whereas like, we're very big on support and making sure
that kind of you are hitting those milestones. I mean,
I finished my professional year with Everest Wealth when I
(33:51):
moved over, and yeah, having a good supportive employer is
really important. But yet being financial advisors all it's very rewarding.
Makes me feel nice when I come home at nights
and helping people in a similar kind of age bracket
to me is also really nice. I feel as though I.
Speaker 2 (34:09):
Feel like you've lucked out at Everest, And I'm not
saying it's a bad thing, but like that's why I
got She's on the money right, Like I was working
with beautiful clients. They were so nice, but they were
high income earners who were not in my demographic. I
didn't have a lot in common with them. They were
my parents' age, and that's fantastic, but I just didn't
resonate with them, and I wanted to work with women.
(34:31):
I wanted to work with young but you've like literally
got my dream financial advice job.
Speaker 4 (34:35):
They're going through similar life stages to me, Like, yeah,
they're maybe getting married, wanting to start a family, wanting.
Speaker 2 (34:41):
To tips and tricks too, yeah.
Speaker 4 (34:42):
Like wanting to purchase their first home. Like it's all
really awesome goals that we're trying to reach and watching
people tick those off is really nice. Like we've had
clients recently that have come back and they're like cool,
So when we first saw you, we wanted to get
married and buy our first house and have a baby.
We've ticked all those things off, So cool again, and
(35:03):
I'm like, oh, that's so nice.
Speaker 2 (35:04):
Like I like being part of like the Pervy journey
as well, just knowing how they're tracking what they're doing,
Like I'm a planner at heart. Yeah, like you give
me a plan, you give me a list. I'm in
and that you get to do that as a career
is really cool. Yeah, it's very rewarding, Daisy. I have
adored this chat as always. Thank you so much for
agreeing to come back on the show. I feel like
(35:25):
I might have scared you off the first time, but
apparently I didn't, which is great because it means that
I can ask you again and again. I feel like
you've shared so much wisdom and I know our community
is going to be like, we love this, Get Daisy
on again. I feel like I could keep sorry. I
feel like I could keep asking questions literally all day,
and I kept having to keep myself on track. But
if people are like, oh I like the sound of
(35:48):
Daisy or I like the sound of everest Wealth and
want to learn more, where can we find you.
Speaker 4 (35:52):
On our website? We have a booking link where Yeah,
you can have any request Daisy. Yes, So the introductory
call will be done by one of the teams, so
it won't be done by me necessarily, but if you
absolutely do want to work with me, you can. We
have kind of seven awesome advisors as well in the
seven Now, yes.
Speaker 2 (36:09):
It is growing, Yes, I know that already. I'm just
so impressed.
Speaker 4 (36:13):
So, yeah, we have seven awesome advisors. I'm one of them.
So you can book in through our website for an
introductory call with the team. We'll kind of take you
through a little bit more around our process, gather a
bit of information about you, and then book you in
for an initial meeting.
Speaker 2 (36:28):
I love it. I love the rest of the team too.
Like Dais is cool, she's willing to go on the pod,
but the rest of the team equally is cool. And
for those of you who have been loving our Q
and A style episodes, don't worry. I have a lot
more come in your way. We'll be diving into investing
and property in some upcoming episodes. And if you've got
questions that you really really want answered, I want you
(36:48):
to go and follow us on Instagram because that's where
we do our listener call out and pop up question
boxes and like get all of the information. The link
to that is in our show notes, so make sure
you're following us. The linked Everest Wealth is in our
show notes. You can follow Daisy. But Daisy, thank you
so much for hanging out. I have adored this and
I know that the community are going to love it
as much as I have.
Speaker 4 (37:09):
Thank you so much for having me on again.
Speaker 2 (37:11):
Have a good day, guys.
Speaker 5 (37:18):
The buy 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.
Speaker 2 (37:37):
Advice tailored towards your needs.
Speaker 5 (37:39):
Victoria Divine and She's on the Money are authorized representatives
of money.
Speaker 2 (37:44):
Sheirper pty LTD ABN three
Speaker 5 (37:46):
Two one IS six four nine two seven seven zero
eight AFSL four five one two eight nine
Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
the Order Kerni Whalbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming
(00:22):
through as this podcast is about connecting, empowering, knowledge sharing
and the storytelling of you to make a difference for
today and lasting impactful tomorrow.
Speaker 2 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 2 (00:57):
Hello, and welcome to She's on the Money, the pods
where no money question is too big, too small, or
too embarrassing to ask. I'm Victoria Devine. And if you've
ever found yourself stuck on a money decision, whether it's
picking the right financial advisor, paying off debt or investing,
or figuring out what to do with a lump sum,
my friend, you are in exactly the right place, because
(01:19):
today we're going to be answering your biggest financial questions
and breaking it down judgment free of course, and to
help me is someone our community loves and is obsessed
with and begged me to bring back. And I'm a
girl that likes delivering. You've quickly become a very integral
part of the She's on the Money family. Miss Daisy
(01:42):
Major from Everest Wealth, Welcome back to the show.
Speaker 4 (01:46):
Thank you for having me again. I'm very excited.
Speaker 2 (01:48):
Oh I'm so excited. But I think my favorite thing
ever is like I get dms all the time and
they're like, hey, so I just listened to Daisy's episode
and I'm like, that was ages ago. If you've got
her email, I'd love to talk to her. This is
the best thing ever this time round, though, Daisy, we're
mixing it up. Instead of just talking about financial advisors
in general and what they do and how they do it,
(02:08):
I've actually decided to turn the tables and we have
asked you guys to send in a heap of your
biggest money questions, and there were some good ones and
you get to answer them. I feel like we've got
an ex financial advisor and a financial advisor just answering
people's dirty dms. Gonna be great now. I wanted to
start by saying that we had heaps of questions come
through about what it's actually like to see a financial advisor,
(02:31):
like how to choose the right one, what happens in
the first meeting, and how much it costs, and if
that's something that you are currently wondering. I actually recommend
going back to our previous episode with Daisy because it's
basically a step by step guide of exactly what to expect,
and I've linked it in the show notes so that
you're able to check it out. But that was a
good one. That was our first one we tested the
(02:52):
waters together. Yeah, but let's dive straight into I guess
the proper questions, Daisy. Our first question is from a
community member who's going to see a financial advisor and
thinking about paying for it from their superannuation. A lot
of people don't know that you can actually do this,
so can you explain I guess how that works and
whether it's something that you would actually recommend as a
(03:14):
financial advisor.
Speaker 4 (03:15):
Yeah, absolutely so. Most super funds in the market will
allow us to charge your fee. Some definitely don't, but
most to do in the market. I suppose there's a
few reasons as to why we would recommend that you
do charge through super one of them is that you
do get a fifteen percent tax reduction through the SUPERFI
very sexy, yep. So it makes it fifteen percent cheaper
for you.
Speaker 2 (03:36):
It's like a discount code, but you just have to
use you Super.
Speaker 4 (03:38):
And then Yeah, for a lot of our clients that
we see, it means that there's more money that they
have to invest, pay off debt, keep in cash for
a house deposit. But I suppose one of the big
caveates is that we can't charge everything through Super. We
have to meet what's called a sole purpose test. So
that just means that we have to charge a percentage
through Super of the percentage of advice that we're providing
(03:59):
around your super fund.
Speaker 2 (04:00):
Yeah, and I don't know if you do this, but
all the way back in the day when I used
to be a financial advisor, sometimes as a part of
our strategy, we would recommend that clients made an additional
contribution to their super to pay for their advice because
at tax time they get a deduction on it. So
we're not just talking about using I guess your super
fund savings or your super fund investments to pay We're
(04:21):
talking about using that as a tool to pay and
get a refund. But then also if you don't have
the cash for financial advice but you like really need it,
that's also an option.
Speaker 4 (04:31):
Yeah, one hundred percent. And there's definitely talks at the
moment around making our fees tax seductible personally, so that
will definitely change kind of how we propose it to clients.
Speaker 2 (04:39):
So sexy, it would be life changing, Like go see
an accountant, tax deductible, go see a financial advisor. We
literally can't let you claim your statement of advice on
tax at the moment, and that makes no sense. Like
at a deeper level, the government is benefiting when people
are individually taking care of their own retirement. Yeah, why
(05:00):
wouldn't you make that more attractive for us?
Speaker 4 (05:02):
Yeah, And it's just really strange how there's different tax
laws with super compared to personally around this, So like
the super funck can claim the tax deduction, but where
you can't personally. Doesn't really make a heap of sense.
But hopefully they.
Speaker 2 (05:13):
We don't make the rules. We're just playing within the
rules and we're helping you understand them. So next one,
I've got one of our community members shared how she
saw two different financial advisors and then got two completely
different sets of advice from each of them, which is
obviously relatively confusing. What do you think about that? And
how can someone tell which advice to follow? And I
(05:36):
would say, more importantly, how do you know who financial
advisor is even good?
Speaker 4 (05:40):
We definitely see people that come to us who are
seen a financial advisor before, and maybe our advice is different.
A lot of it lands on kind of the advisor's philosophy.
Some maybe more pro property, some maybe more pro the
share market. But I suppose what I recommend for people
is that they try and find a financial advisor that
deals with people that are in kind of their similar situations.
(06:01):
So I wouldn't recommend a twenty eight year old single
female go see a pre retire advisor, Like you want
to be dealing with somebody that deals in your realm
and is used to providing advice in your area.
Speaker 2 (06:13):
I think that's why you're so popular with our community, Daisy.
Speaker 4 (06:16):
And then yeah, I suppose, like how you know an
advice is good? I mean, there's plenty of different websites
where there's advisor ratings on there.
Speaker 2 (06:23):
Just ask me, are too?
Speaker 4 (06:24):
And that's what I saying, Go the she's on the
money community, and yeah, Google reviews things like that, and
I suppose a lot of advisors do provide that free
of charge initial meeting and it's just really like you
get a vibe check pretty quickly.
Speaker 1 (06:36):
But for that.
Speaker 4 (06:37):
Community member that's received kind of contradicting advice, it will
definitely be kind of what feels better in your gut
as to which one you would go with. I mean,
we have a best interest duty that we need to
provide to our clients. I wouldn't say necessarily one's right,
one's wrong.
Speaker 2 (06:51):
Yeah, I was gonna say this sounds relatively strange because
financial advice, we know isn't cheap, and to get two
pieces of a advice that's a relatively expensive task. Like
I might hold on, what are you doing? But I
would say, and I love saying on the podcast when
in doubt, zoom out, but like, let's look at the
bigger picture. It might be completely different like asset recommendations,
(07:14):
but like where are you going to land in the future,
Like what's the big picture here as opposed to what
is the like short term picture because you might go,
oh my gosh, I don't have enough information here. But
like this particular advisor suggested property and direct shares, and
this other one said, oh more, you know ETF based portfolio.
There's actually not a right or wrong. There's what that
(07:35):
advisor is more comfortable with. And like, if I go
back to when I was a financial advisor, I dealt
a lot with direct shares, So like I would construct
portfolios for clients made of eight to twelve, I would
say basic shares that we had constructed and spoken about.
But then I would have girlfriends who were also financial
advisors and they're like, oh my gosh, Victoria, I know,
(07:57):
absolutely not, I just do ETFs or you know, another
financial advice is like, oh my god, no, Like I
work for a financial advice firm that also has buyers agents,
and like we do a lot of property. Like that
doesn't mean that you're worse off from any We all
just have different methodologies and honestly interests. Like I loved
that share side of it took me longer, but it
was like something that I was passionate about. So I
(08:19):
think it's important to remember that it doesn't mean it's
wrong one hundred percent.
Speaker 4 (08:22):
Yeah, And as long as they've met your goals, explain
the advice to you then yeah, I think you really
just go with your guart there.
Speaker 2 (08:28):
All right, we have a lot of questions from our
community about lump sums and you know, choosing between I
guess two different financial options like do I pay off
my HEX or do I start investing? Or do I
put extra money into my mortgage or my superannuation? Or
do I start saving for a house Daisy, or should
I just you know, go and buy an ETF What
(08:49):
does that look like? These decisions, I would say, are
not one size fits all. So how do you actually
work out what the hell is best for you?
Speaker 4 (08:58):
Yeah? So I think a lot of it comes down
to your goals and your time frames as well as
kind of where you're at in life. So in terms
of paying off your help debt compared to investing, I
mean with the changes with help indexing at CPI or
wage growth compared to investing in the market, Like investing
in the market historically is done seven to ten percent,
whereas putting a lumpsom off your HEX could be two
(09:20):
to three percent. But then I suppose if you're looking
at buying your house, like you may need to pay
off some of your help debt. Hopefully again that changes
with what the government's proposing. But like that may be
a consideration that we take into overall goals in terms
of kind of putting money in SUPER compared to paying
it off your mortgage. That could depend a lot on
where you're at with your life stage. So if you're
(09:42):
getting closer to retirement age, closer to when you can
access your SUPER, it may make a lot more sense
to put money into SUPER, and then it's in a
more tax effective environment. Whereas if you're planning on starting
a family and need to kind of pay down your
home mortgage or pay off some of your debt quicker,
then it might make more sense to put it into debt.
So there's not really a one size fits old.
Speaker 2 (10:02):
There, and it's all about like strategy as well.
Speaker 4 (10:05):
It all links back to your goals and where you
want to be, what you want to be doing, and
also your time frames. Because if you came to me
and said, hey, Daisy, I want to buy a house
in eighteen months, I'm going to chuck all my money
in the share market for my.
Speaker 2 (10:17):
Deposit, terrible idea.
Speaker 4 (10:18):
Bye, Yeah, don't do that. The volatility that comes with
that just isn't worth it. And maybe SUPER boring, but
it's just keep it in cash, like you know that
that's safe.
Speaker 2 (10:26):
Sometimes the most boring answer is the one exactly.
Speaker 1 (10:30):
Yeah.
Speaker 2 (10:30):
Yeah.
Speaker 4 (10:30):
I have clients that come to me and I'm like, look,
keep it in cash, and I'm like, I know that
it's boring.
Speaker 2 (10:35):
It's a very unsexy answer.
Speaker 4 (10:37):
It's very unsexy.
Speaker 2 (10:38):
But I mean, we can find a high interest savings count. Yeah,
that could be fun, but yeah, don't invest it if
it's a year.
Speaker 4 (10:45):
There's not one size fits old for that answer, but
it's just working around kind of how much we can
allocat in each area?
Speaker 2 (10:50):
Really can I ask perfect questions? Is that allowed?
Speaker 4 (10:53):
Absolutely?
Speaker 1 (10:54):
I like this.
Speaker 2 (10:54):
Do you still have a hex step?
Speaker 1 (10:56):
No?
Speaker 2 (10:56):
Oh, I'm very envious.
Speaker 1 (10:59):
I do.
Speaker 2 (10:59):
It's really I want to know, did you have a
hex stet?
Speaker 4 (11:03):
I was blessed, single child odess?
Speaker 2 (11:06):
Okay, well, in that case, hypothetically, if you had a
hex step.
Speaker 4 (11:10):
My husband still has a hex stet.
Speaker 2 (11:11):
Okay, all right, let's talk about him. Let's talk about here.
Are you guys paying that off at more than what
the base repayments are?
Speaker 1 (11:20):
Oh?
Speaker 2 (11:20):
So you're not adding extra contributions as the financial advisor? Interesting?
All right, next question someone has asked, as a financial advisor,
what is the most common mistake you see people making
with their money?
Speaker 4 (11:34):
I suppose for me, it's not understanding their cash flow,
so not understanding what's coming in, what's going out, not
understanding kind of yeah, where they're surplus or where they're
going to direct their money, and they sit on it.
And it's that whole analysis paralysis thing where they sit
on it. They know they need to do something with it,
but it's like there's so many options that I don't
(11:54):
know where to start, and it's kind of taking that
first step and it may be the wrong one, but
at least taking a step in one direction means that
you're not just sitting there stagnating doing nothing. Yeah. But
then also understanding where your money's going each pay cycle
is something that like people don't really understand, so then
they don't kind of seek advice or take that first step.
Speaker 2 (12:18):
Yeah. And I feel like that analysis paralysis is a choice.
Like I'm not saying it's an easy choice, like we're
just burying our head in the sand, but like not
making a decision is still a decision one hundred percent, Yeah,
and we need to just like move past that and
especially women. We're so won't take bad but we're just
so good at going oh great, I'm ready, and then
(12:41):
you hear one word that you're like, I'm gonna have
to start again. I'm going to have to do some
more research, or like you've finally made a decision, maybe
you want to buy a house and you've picked, and
then a friend is like have you thought about and
you're like, oh no, I don't know anything. And I
think we don't back ourselves in our own research and
making a decision that's right for us because we're so
good at crowdsource. Like we've got a problem, we take
(13:01):
it to the community. But also sometimes we just need
to be a little bit insular and run our own race.
And that's me really important, Daisy. This has been so
good so far, but I really want to go to
a quick break because I feel like I need a breather,
a little cup of tea. After the break, we're going
to dive into a topic that a lot of people
(13:22):
were really curious about, and that is debt recycling. So
we're going to discuss what it is, how it works,
why it might actually be a strategy that could work
for you. So guys, don't go anywhere, all right, Welcome back,
my friends. We have Daisy from Everest Wealth talking all
(13:42):
things finance, answering all of your questions and a lot
of people in our community. Daisy, they were like, what
is debt recycling? I feel like it started to trend
a little bit on TikTok and they're like, hold up,
what is this? How does it work? Can you break
it down for us? What is debt recycling? What are
your thoughts on it? Is it a good strategy? Who
could this work?
Speaker 4 (14:02):
For? One hundred percent? Yeah, I do agree with you
that it's definitely become a lot more prevalent question, mainly
due to the tiktoks and stuff that I'm seeing.
Speaker 2 (14:10):
So I love when a client would bring like an
Instagram video or something. You're like, look, I've seen this,
and I'm like thinking, yes, same, but mine was at
eleven PM. I'm not going to mention that.
Speaker 4 (14:19):
No, one hundred percent, So try and explain it as
simply as possible. But it's effectively that you're taking your
non deductible debt, so your home mortgage, and kind of
redrawing on that and turning it into deductible debt. Which
you then normally invest in the share market. Say that
you have two hundred grand home mortgage and your house
is worth eight hundred grand, you could effectively pull out
(14:41):
one hundred grand of your equity yep, equity and turn
that into effectively an investment loan, which then means that
the interest on that one hundred grand investment loan becomes
tax deductible for you claim it on tax. Yes, and
then you would invest that normally in the share market,
which then has Stori has done kind of seven to
ten percent, and use the returns on that normally to
(15:04):
then pay off your home loan.
Speaker 3 (15:06):
Quicker.
Speaker 2 (15:06):
That sounds relatively sexy, Yes, and at the moment all positive.
Speaker 4 (15:12):
Yes.
Speaker 2 (15:12):
So it's a strategy that you implement as a financial advisor.
Speaker 4 (15:15):
It's a lot more risky than just taking ten grand
and putting it in an investment portfolio. So I suppose
because you're leveraging or taking out debt to then go
invest in the share market. Obviously, the share market comes
with volatility, like we don't have a crystal ball, we
don't know what it's going to do. But you're still
going to have those debt repayments to pay. So I
(15:36):
suppose it's really a strategy if people have a large
surplus each year, so usually like twenty to thirty grand
surplus already before the investment loan is taken out, and
they understand the risk that comes with it, Like it
is one of the more higher risk strategies that we
implement for some clients, and a lot of people just
(15:59):
think it's kind of free money that they can take
out and invest without understanding the implications.
Speaker 2 (16:04):
Of having integration strategy.
Speaker 4 (16:06):
Yeah, yeah, it can definitely work well in a tax
production strategy, but yeah, there's certainly a lot of risks
that come with it that maybe a lot of those
tiktoks don't really exploring.
Speaker 2 (16:15):
Those tiktoks drive me batty. Most finance content on TikTok
drives me insane because I just look at it and go,
oh my goodness, Like I know that you have just
learned this and it's a very sexy thing, but you
haven't taken this into consideration, or haven't talked about capital
gains on that and actually brings that down and doesn't
make it as an attractive opportunity as you're saying it is,
or you haven't spoken about the fact that you have
(16:39):
to pay tax on that income.
Speaker 4 (16:41):
Yeah. Yeah, And a lot of people they come to
us and they really want to implement this strategy, but
they may not have a cash surplus.
Speaker 1 (16:48):
Yeah.
Speaker 4 (16:49):
And it's like a lot of people believe were drawing
equity from their house just means free money without actually
understanding the implications of doing that. But yet it certainly
has worked in some clients cases, and like they fully
understand it and they have the surplus and they want
that tax reduction. But a lot of clients, once we
actually explain it and run through it with them, they're like, oh,
(17:09):
that's too risky for me.
Speaker 2 (17:10):
Yeah. I found that when I was a financial advisor,
I did use it for a few clients. It wasn't
something that I recommended consistently, again because it was relatively
high risk, Like you know, you do your client risk
profile and you know you're only really even talking about
this that they come back as a high risk client
to begin with. But I found that younger clients with
(17:31):
really high incomes and debt it worked really well for yeah,
because you know, I'm just thinking of this one client.
I used to have a couple, both lawyers, really really
like career driven no kids, no plans for kids, and
you were like, Okay, cool, this is going to work
really well because you guys are just saving so much
money anyway, and we also have another thirty years in
the share market, and like our plan was to do
(17:54):
that essentially extinguish all of that debt. I think it
was like more than like fifteen years earlier because of
that strategy. But it was a privilege, Like it wasn't
a oh, yeah, you can do this and it's going
to be better for you financially. It was like, because
they had a lot of money, we could do that
because if at the end of the day they were
stretched for cash, I knew they were sitting on way more.
Speaker 4 (18:16):
Yeah, and one hundred percent like the clients that I
can think of that have implemented a very similar situation
where they're both high income earners, no plans for children
or career breaks. So yeah, it definitely has made sense
in those scenarios.
Speaker 2 (18:28):
I think we're on the same page about who we
would recommend that for. Yeah, or right, let's flip the narrative.
We're no longer talking about houses, We're going to talk
about cars. Car leasing is one of those things that
sounds good in theory. You get a new car, no
upfront payment. Very nice. Maybe I'll get myself a NACA.
But is it actually a good financial move? What are
(18:49):
the pros and cons? And who does this make sense for?
Speaker 4 (18:54):
Yeah, definitely, so car leasing is one that pops up
a lot. I suppose the first discussion, is you even
need a new car?
Speaker 2 (19:01):
Is we don't humble us.
Speaker 4 (19:03):
That's all we have with people because you buy a car,
and yeah, it's kind of a spent expense, but you
do need a car to get around.
Speaker 2 (19:10):
So I agree. I'm going to sidetrack this for a
hot second. Do you buy brand new cars as a
financial advisor?
Speaker 1 (19:16):
No?
Speaker 4 (19:17):
No, I know, Like why I don't know. It's that
whole thing of as soon as you drive out of
the dealership you lose, Like we just can't do it.
Speaker 2 (19:25):
Yeah, I bought my car secondhand too, don't worry, Like,
I'm not saying that I bought a cheap car. Like,
don't get me wrong. I want to be really clear
that I'm not pretending that's a super budget decision, but
I'm definitely not spending the extra money like someone else.
You drive it, you make the loss. I make the game.
Talk to me about why people think that leasing a
(19:46):
car is a good idea if they've decided that a
new car is in line with their goals and their values.
Speaker 4 (19:52):
So people see, as you said, they don't have to
fork out that big lump some payment to start with,
and they can just kind of have some money come
out of their salary each fortnite without understanding kind of
the balloon payment at the end.
Speaker 2 (20:06):
Of the balloon payment.
Speaker 4 (20:08):
So yeah, a lot of people don't understand that. Yeah,
you're paying money each fortnite or each pay cycle pre
tax and post tax, but every lease has a balloon
payment at the end of it, depending on how long
the lease is for, depending on how big the balloon
payment is, but it's usually a fair summer money.
Speaker 2 (20:22):
It's usually like thirty or forty percent yeah, one hundred
car's value.
Speaker 4 (20:26):
Yeah, so then it's planning for that. So then you're
receiving lesson your pay each fortnite, but then having to
save money for this balloon payment at the end of
the lease unless you roll it into a new lease.
So balloon payment is number one that we highlight. Two
clients that are looking at a lease, usually the in
bill interest rate is a lot higher than other loans
(20:47):
that you could get for a car, and there's usually
an admin fee that the leasing companies charge as well.
Speaker 2 (20:53):
So sneaking, aren't they know? They know what they're doing.
Speaker 4 (20:56):
Yeah, so they will present to you how much the
tax saving is and all of that, And again that
looks really sexy, but if you actually drill down into it,
you kind of look at comparing it to a personal loan,
redrawing on your home mortgage if you can, or using
cash for it, it usually ends up kind of better
(21:16):
off doing one of the other options over leasing. I
suppose there is a caveat to that though, for electric
vehicles or plug in electric vehicles, so I'm not talking
about hybrids or anything.
Speaker 2 (21:27):
This wasn't around when I was doing advice.
Speaker 4 (21:30):
Tell me for evs or plug in evs with leasing,
it just means that you can take one hundred percent
of the lease payment pre tax. Sorry what yeah, posts
comes out except I don't like Elon, I don't want
to buy a Sesler, That's true, there's plenty of other ones.
Speaker 2 (21:49):
I don't know enough about cars to have a proper
opinion here.
Speaker 4 (21:52):
So yeah, that for high income earners definitely has shown
a better result. But I suppose, yeah, you need to
want an or a plug in EV and understand the
costs that come with that. But in those cases when
we've done the numbers, it has actually worked out better
off taking a lease. But yeah, they're kind of far
and few between.
Speaker 2 (22:11):
That is good to know, and I feel like so
many people are like, oh, I'll just lease it, as
though that's a flippant decision, but long term could actually
cost you so so much more. I want to flip
the script again. So with cars, we've done homes, now
we're going to do education. Education bonds aren't talked about
as much as other investment options, but a few of
(22:31):
our members have been relatively curious recently. I think potentially
because I have been talking a lot about investment bonds
because that's something that I invest in and something that
I have been using. But a few of our community
members want to know what are they, how do they work?
Are they actually a good strategy for saving for kids education?
Speaker 4 (22:50):
Yeah? Absolutely, And I feel like I'm getting a lot
more education bond questions. So again that might be coming
from tea top.
Speaker 2 (22:56):
We're all in the same era right now. We're thinking
about having kids, or we've just got kids, or like
we're all growing together.
Speaker 4 (23:03):
Yeah, one hundred percent. So an education bond is effectively
a tax structure similar to an investment bond, where the
tax is paid within the bond, but then there's an
additional education bond tax saving on top of this. With
an education bond, they operate quite similar to an investment
bond like you that put in a lump sum or
put in a regular amount each year, but the purpose
(23:24):
of it is for the beneficiary's education. So whether that's
schooling tertiary, there's no requirement for it to be one
over the other. I suppose a lot of people do it.
If both parents, say are high income earners, grandparents want
to set up for their grandchildren, they will do it
because it is taxed internally. So if I set up
(23:45):
an education bond for one of my children, like nothing
would be taxable in my own name. It's all taxed
within the bond, which is sexy. Yeah. So a lot
of people ask, well, what if my child doesn't go
and do tertiary education, what if I end up sending
them to my local public school instead? Can I take
the money out? The answer is yep, absolutely. The amount
(24:06):
that you're putting in each year, or if you put
in a lump sum, you can take that out tax free.
It just depends on how long you've had it in there.
For the earnings that has accumulated in that account as
the wather, you can then pull that out tax free. Yeah,
it can be a very tax beneficial way of saving
for your children's education. We mainly implement them for high
income earners, where if there's two parents, one maybe on
(24:30):
a lower income, not planning on kind of returning to
work full time until the kids to finish school, it
may make more sense to set up an investment account
in their name for the kids' education, for example. So yeah,
again they come with additional admin fees and stuff like that,
but yeah, they can be very beneficial in some cases.
Speaker 2 (24:48):
If you had kids, Daisy, what would your plan be
when it comes to investing for them?
Speaker 4 (24:53):
I would probably set up in an education bond, just
purely due to my situation. But yeah, I suppose if
I wasn't planning on working kind of full time when
I had kids in school, then I'd probably look at
s someting something up in my own name.
Speaker 2 (25:06):
Not see that happening, I know, you well enough to
know she's gonna be a working mum guy.
Speaker 4 (25:10):
Yeah, definitely, But like there are so many other options
as well, so like.
Speaker 2 (25:15):
Oh, there's six million, and I feel like I'm thinking
about it now I have a baby, and I'm like, well,
what do I do? And we ended up going down
the investment bond route because it just worked best for us,
and I like the flexibility afforded with it, and like,
I just didn't want him to in the future feel
like he was being pressured down the education pathway. And
(25:35):
don't get me wrong, like love education, but I don't
know who he is yet or like what he's going
to be interested in or who he wants to become.
And I just was like, oh, I like the idea
that that could benefit him in a number of different ways.
But do you have clients picking between an education bond
or an investment bond? Is that a conversation you have often?
Speaker 4 (25:55):
Yeah, definitely, And I suppose a lot of people probably
feel similar to you, where they don't necessarily want to
put it into an education bond if they don't know, like, yeah,
what their child's going to be like longer.
Speaker 2 (26:05):
There's extra benefits for sure.
Speaker 4 (26:06):
Yeah, there's definitely actually benefits. And I suppose like some
people do come to us and they're like, Nope, I
want to send my child to the school that I
went to. I know it's going to cost me thirty
grand a year, and I want to say for that,
and that's like a no brainer in that situation if
both parents are high income earners, whereas some people are like, oh,
I may move house into a better catchments than they
(26:27):
may go to a public high school. I don't know
really if they're going to do any tertiary education.
Speaker 2 (26:32):
I just don't know.
Speaker 4 (26:33):
Yeah, so if the unknowns are there, then yeah, probably
an investment bond would be more beneficial if you're pretty
set on what your child's education is going to look
like than an education bond.
Speaker 2 (26:45):
Maybe. Yes, smart, good chat. I feel like that one
is a good topic. Let's talk about singles. Do you
have any advice for our listeners who are currently going
you know what, money is really hard at the moment
I am single. What would you say?
Speaker 4 (27:00):
What do you do?
Speaker 2 (27:01):
I know you give advice to single women all the
time because I keep sending them to you.
Speaker 4 (27:05):
Yeah, so I suppose a lot of people are worried
about seeking advice as a single person because they feel
like maybe they don't have the cash flow there or
something like, they feel like as though they need dual
income to be able to kind of do anything with
their finances, which is just absolutely not correct. So, as
you mentioned, we see a lot of single females mainly
(27:26):
who just want to kind of take a step in
the right direction. So like, coming and seeking advice shouldn't
be scary.
Speaker 2 (27:34):
You actually are quite scary. So I don't know, Well,
a lot of people do say that, I don't do
they Actually I don't find Daisy scary. I find Daisy
lovely and you should definitely talk to her.
Speaker 4 (27:46):
No, maybe you can ask my husband that, but I
don't ask my.
Speaker 2 (27:48):
Husband about opinions if that's who we're going to.
Speaker 4 (27:51):
But no, seeking advice as a single person shouldn't be scary.
We do it all the time, and just making a
few small tweaks can mean that, yeah, like you can
reach a few of these goals. I mean, so many
single females that I see they're worried about, like investing
in the share market, having stability, having like a bit
of a nest egg there as an emergency fund. So
(28:11):
we work through all of that, and like we understand
there's a single income, We understand all of that. But
even like little things like putting in place some insurance,
looking at their super, making sure they have a will,
all of that is all part of what we do
as financial advisors and assist with. So like, at least
then you're ticking off a few things.
Speaker 2 (28:30):
That make me miss my job. I am very envious.
I'm not gonna lie. I do like this a lot.
But you know when someone's like, oh yeah, also I
do this, I'm like, ah, what did I do when
I get out of that? All right, let's talk about
like obviously, being single, there's a lot of pressure, but
there's also a lot of pressure as you feel as
though you're getting older and you might have missed the
(28:51):
boat or you like haven't done enough. And actually a
lot of our community members wrote in and said that
they were feeling like it's a little bit too late
for us, like I don't know if it's even worth
trying to start to build wealth, or like is it
only worth just investing in my super because like I'm,
you know, getting really old and I think I've missed
the boat. What's your advice there.
Speaker 4 (29:12):
You're absolutely never too old to start and put in
place some good money structures. Yeah, And it may be
let's struck it all into super because you are getting
closer to retirement age, but at least you know that's
the right the right decision, yeah, or it might be yeah,
just having a discussion around all right, let's smash down
the mortgage so that, Yeah, you can retire early if
you want to. But you're absolutely never too old to
(29:33):
get advice. You're never too young to get advice either.
That's what I see quite a bit is, yeah, they
feel like we should have done this ten years ago.
I'm like, yeah, but you're doing it now. So that's
great because in five years time you would have gone, oh,
I should have done it fifteen years ago, whereas it's like,
don't worry about that. We're doing it now and we
can still make some really good changes and mean that
kind of long term you are going to be better off.
Speaker 2 (29:54):
Yeah, And like, don't get me wrong, you're not going
to see the same compounding impact in the over forty
years has totally but you're still going to see some
of that. Like, yes, it's not going to be as
dramatic as the Instagram pictures or you know the examples
that I sometimes use on this podcast. But like, even
(30:14):
if you've got three or four years before retirement, you
are literally going to be tens of thousands of dollars
better off because you're making changes now, and I can
promise you few to you, even if it's a five
thousand dollar difference, a ten thousand dollar difference, like just
because it's not hundreds of thousands of dollars, I promise
you're going to be so much more comfortable just having that,
even if it's like structuring your emergency fund for what
(30:38):
that looks like, and making sure that we can get
a pension, and making sure that we can do all
of the things that give you a comfortable life. Like
I promise you it's not too late, because the worst
thing is getting to the very end of your career
and going I would like to retire tomorrow and being told, oh, actually,
like if you'd come five years ago, we could have
structured you so that you're retired today, going to take
(31:00):
another five years, Like let's just get it together, yeah,
because no one regrets having a few more dollars in
their account.
Speaker 4 (31:06):
Yeah, And it's getting people that peace of mind and
knowing what the future looks like as well, because yeah,
as you said, if you're three four years off retirement,
you want to know that that is achievable. You don't
want to be like that person who comes and says
I want to retire tomorrow and then it's like, no,
it's going to be a few more years.
Speaker 2 (31:22):
Yeah, exactly.
Speaker 4 (31:23):
So, yeah, you're definitely never too old to seek advice.
And yes, I said, you're never too young either.
Speaker 2 (31:28):
I feel like I've learned a lot about that obviously
when I was an advisor, but now even in the
She's on the Money community, people ride in and they're like,
oh my gosh, Victoria, I'm in my seventies and I'm like,
slay queen. Yeah, like that's so cool. All right, We're
running out of time very quickly. But finally we had
a few people ask Daisy, your job sounds really cool.
How do I also become a financial advisor? And do
(31:51):
you have any advice for anyone who's like, oh, maybe
that's a career pathway for me.
Speaker 4 (31:57):
Yeah. So I suppose a little bit of history of
why I got into financial advice was that I wanted
to help people, So I really wanted to help care
for people, but I didn't want to go into the
medical field.
Speaker 2 (32:07):
So I was like, I thought I wanted to be
a doctor, and I realized you actually have to do
like blood and guts and stuff. Yeah.
Speaker 4 (32:12):
Yeah, so very similar to me where I was like,
I want to help people. I want to make sure
that yeah, I'm doing something good for people, but I
didn't want to go into the medical field. So I
was like, I can help people set themselves up, feel
good about their goals, know they're going to reach them.
I suppose becoming a financial advisor, there's definitely some education
requirements now, which is awesome. So yeah, there's relevant degrees
(32:34):
that you need to do, as well as potentially some
post study as well as a financial advisor exam and
a professional year. Sounds very overwhelming and daunting when we
say it like that, but I suppose find a financial
advice practice that has a really good grad program. Yeah, so,
like we have three graduates at the moment that we're
(32:55):
working through very structured graduate program, so they feel as
though they're growing in their role or they feel as
though they're learning all the different aspects. Cool.
Speaker 2 (33:02):
I remember when it was just the boys, and now
you've got three graduates. What are you talking about?
Speaker 4 (33:07):
Yeah, So, like when they came and interviewed with us,
we laid out that graduate structure and we were like, look,
this is where you're going to be if you stay
with us, if you want to move as quickly or
as slowly as you want to finding a good financial
planning practice that has some structure in place to make
sure that you are growing and are hitting those milestones.
Because I interview so many people that have been in
(33:30):
financial advice for a few years and they're like, I
just feel like I'm stagnating in my role. I feel
as though I'm not going to be able to start
my professional year, or I feel as though even if
I started that it's going to take me a few
years and I'm not going to have the support there.
Whereas like, we're very big on support and making sure
that kind of you are hitting those milestones. I mean,
I finished my professional year with Everest Wealth when I
(33:51):
moved over, and yeah, having a good supportive employer is
really important. But yet being financial advisors all it's very rewarding.
Makes me feel nice when I come home at nights
and helping people in a similar kind of age bracket
to me is also really nice. I feel as though I.
Speaker 2 (34:09):
Feel like you've lucked out at Everest, And I'm not
saying it's a bad thing, but like that's why I
got She's on the money right, Like I was working
with beautiful clients. They were so nice, but they were
high income earners who were not in my demographic. I
didn't have a lot in common with them. They were
my parents' age, and that's fantastic, but I just didn't
resonate with them, and I wanted to work with women.
(34:31):
I wanted to work with young but you've like literally
got my dream financial advice job.
Speaker 4 (34:35):
They're going through similar life stages to me, Like, yeah,
they're maybe getting married, wanting to start a family, wanting.
Speaker 2 (34:41):
To tips and tricks too, yeah.
Speaker 4 (34:42):
Like wanting to purchase their first home. Like it's all
really awesome goals that we're trying to reach and watching
people tick those off is really nice. Like we've had
clients recently that have come back and they're like cool,
So when we first saw you, we wanted to get
married and buy our first house and have a baby.
We've ticked all those things off, So cool again, and
(35:03):
I'm like, oh, that's so nice.
Speaker 2 (35:04):
Like I like being part of like the Pervy journey
as well, just knowing how they're tracking what they're doing,
Like I'm a planner at heart. Yeah, like you give
me a plan, you give me a list. I'm in
and that you get to do that as a career
is really cool. Yeah, it's very rewarding, Daisy. I have
adored this chat as always. Thank you so much for
agreeing to come back on the show. I feel like
(35:25):
I might have scared you off the first time, but
apparently I didn't, which is great because it means that
I can ask you again and again. I feel like
you've shared so much wisdom and I know our community
is going to be like, we love this, Get Daisy
on again. I feel like I could keep sorry. I
feel like I could keep asking questions literally all day,
and I kept having to keep myself on track. But
if people are like, oh I like the sound of
(35:48):
Daisy or I like the sound of everest Wealth and
want to learn more, where can we find you.
Speaker 4 (35:52):
On our website? We have a booking link where Yeah,
you can have any request Daisy. Yes, So the introductory
call will be done by one of the teams, so
it won't be done by me necessarily, but if you
absolutely do want to work with me, you can. We
have kind of seven awesome advisors as well in the
seven Now, yes.
Speaker 2 (36:09):
It is growing, Yes, I know that already. I'm just
so impressed.
Speaker 4 (36:13):
So, yeah, we have seven awesome advisors. I'm one of them.
So you can book in through our website for an
introductory call with the team. We'll kind of take you
through a little bit more around our process, gather a
bit of information about you, and then book you in
for an initial meeting.
Speaker 2 (36:28):
I love it. I love the rest of the team too.
Like Dais is cool, she's willing to go on the pod,
but the rest of the team equally is cool. And
for those of you who have been loving our Q
and A style episodes, don't worry. I have a lot
more come in your way. We'll be diving into investing
and property in some upcoming episodes. And if you've got
questions that you really really want answered, I want you
(36:48):
to go and follow us on Instagram because that's where
we do our listener call out and pop up question
boxes and like get all of the information. The link
to that is in our show notes, so make sure
you're following us. The linked Everest Wealth is in our
show notes. You can follow Daisy. But Daisy, thank you
so much for hanging out. I have adored this and
I know that the community are going to love it
as much as I have.
Speaker 4 (37:09):
Thank you so much for having me on again.
Speaker 2 (37:11):
Have a good day, guys.
Speaker 5 (37:18):
The buy 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.
Speaker 2 (37:37):
Advice tailored towards your needs.
Speaker 5 (37:39):
Victoria Divine and She's on the Money are authorized representatives
of money.
Speaker 2 (37:44):
Sheirper pty LTD ABN three
Speaker 5 (37:46):
Two one IS six four nine two seven seven zero
eight AFSL four five one two eight nine
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