March 19, 2025 • 43 mins
What if you could transform your financial future with expert insights from a seasoned strategist? Join me, Amy Bennett, as I engage in a captivating conversation with Di Scott from Nestworth Financial Strategists. Discover the nuances of financial planning and real estate through Di's transformation from a legal secretary to a financial strategist, driven by her passion for helping people achieve their financial goals. Dive into the fascinating world of financial planning as we explore the importance of collaboration with accountants and solicitors for comprehensive client services.
Get ready to learn about the art of personalized financial planning. We discuss how strategies adapt to suit various life stages, from debt reduction for younger clients to retirement planning for those approaching their golden years. Our discussion touches on the impact of the Global Financial Crisis, emphasizing the need for stable investments and economic foresight. We also address the importance of diversifying financial strategies and staying informed about legislative changes that could affect your plans, all while navigating the complexities of self-managed super funds.
As we wrap up, we reflect on the significance of financial literacy, especially in the education system, and the enduring value of human interaction in an increasingly AI-driven world. Di shares personal stories and quotes that shaped her perspective, underscoring the critical balance between professional success and personal fulfillment. Don't miss this opportunity to gain practical insights and be inspired to take control of your financial journey. Listen in and let us know what topics you'd love us to tackle next!
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Welcome to Beyond the Signboard, where you get the
opportunity to learn all thereis to know about your real
estate journey fromprofessionals who are passionate
about property.
I'm Amy Bennett, your host, andI look forward to providing you
with education, inspiration anda behind-the-scenes look at the
world of real estate.
Hi everyone, it's Amy Bennetthere, host of Beyond the
(00:30):
Signboard, Delighted to welcomean amazing guest.
Her name is Di Scott.
She's a financial strategistfrom Nestworth Financial
Strategists.
Welcome, Di.
Speaker 2 (00:39):
Hi, amy, thanks for inviting me.
Speaker 1 (00:42):
Oh, my pleasure.
I always say I just said offair.
It's always a brave step injumping in front of the
microphone, but I know you'regoing to offer our listeners so
much information.
I hope so.
I know so Before we get into it.
I just asked you about yourtitle.
So financial strategist I'veheard financial planner advisor.
(01:03):
Do you want to just give us alittle bit of an insight?
Are they all different?
Speaker 2 (01:07):
They're exactly the same, so it's really just a
preference.
Speaker 1 (01:11):
Yeah.
Speaker 2 (01:11):
We like the word strategist because it shows that
we're going beyond just theinvestments.
It's about making your lifericher.
Speaker 1 (01:19):
Amazing, and it is certainly a hot topic at the
moment.
We've got so much to delve into.
You have such a wealth ofknowledge.
Pardon the pun.
I had the privilege of joiningyou at a seminar recently and I
learned so much.
I've always been a bit of afinance and superannuation nerd,
so I've really enjoyed gettingto know you.
(01:39):
We actually met through yourmember of a B&I group, that's
correct.
Speaker 2 (01:43):
Yep Team Momentum Go, go go.
Speaker 1 (01:46):
And you know obviously a really good
contributor to that.
Before we kind of get into it,you know how long have you been
in BNI?
Speaker 2 (01:53):
So this is my third year in the group and, wow, it's
been a journey, definitely justthe self-confidence and getting
what we do out to the broadernetwork, and it's amazing how
much people or little peopleknow about their finances and
just different ways they canhelp themselves.
Speaker 1 (02:14):
Yeah, absolutely.
And so what I love most aboutyour group, so you meet every
week.
You've got, you know, 29, so 28other advocates for your
business, and it's just reallyinteresting.
I quite often come in as asubstitute and just learning the
, I guess, the width and thebreadth of how those connections
go.
And you know, I have no doubtthat you've helped many people
in the group, but also that youalso work alongside, like
(02:36):
accountants and everything aswell, don't you?
Yeah?
Speaker 2 (02:38):
that's right.
It's a really important part ofour business is to be able and
for us to be able to help ourclients much more broader.
So if we can get in front ofyour accountant and sometimes
the solicitor if it's aroundstate planning, we can make sure
those pieces all slot togetherperfectly, because it can get
really confusing if theaccountant doesn't know what
(02:58):
you're doing and vice versa.
Speaker 1 (03:02):
Yeah Well, we're going to delve deeper about that
, because I know that that'sreally important too, is that
holistic strategy and workingwith other professionals.
But before you're a financialstrategist, let's go back to
chat us through your careerjourney from then to now.
Speaker 2 (03:15):
So I started as a legal secretary.
Speaker 1 (03:18):
Amazing.
Speaker 2 (03:18):
Yes, yep, so personal injury was working for a local
firm and I mean it was fastpaced.
I loved it.
I loved that we were helpingpeople who were in a vulnerable
situation.
And then I decided to gotravelling.
So I went off to London and metmy now husband and stayed for
(03:39):
four years.
So during that period did allthe backpacking stuff and worked
in a pub and then back to legaland then I ended up in
corporate investigations.
So, that was really interestingOnce again, as, like a personal
assistant, it wasn't till I gotback to Australia and I was like
I need a change.
What am I going to do now thatI literally stumbled into
(04:03):
financial planning.
I wasn't sure what I was doingand what was going on, but I
very quickly learnt that theywere helping people to see their
life be the way they wanted itto be, and it was just.
It felt like a light bulb wentoff.
Speaker 1 (04:20):
It's amazing and I'm always curious because obviously
you know the path that we'reled into.
Sometimes it's based on our ownpersonal circumstances and so
often I know, you know, when Ispeak to people, if they've got
a financial strategist orplanner, you know they kind of
think, hey, that's when I'molder or due to, you know, get
closer to retirement, so I'm,you know, really interested in
(04:40):
when you were growing up, didyou kind of have a passion for
finance and interest there?
Speaker 2 (04:44):
No, not really.
Speaker 1 (04:45):
To spending money?
Yeah, no.
Speaker 2 (04:47):
Saying that I would always very carefully plan my
$15 a fortnight pocket money andmake sure that I was thinking
hey, you did well.
Speaker 1 (04:54):
$15.
Speaker 2 (04:55):
Yeah thinking what I was going to do and what was
coming up and what.
I had to save for.
So I guess I've always had thatmindset.
Didn't grow up in an overly youknow wealthy family or anything
.
We were very, you know, just anormal Australian family, so
things like budgeting was alwayssomething that was part of my
(05:16):
life.
I guess from listening to mymother and you know what we
could have and what we couldn'thave and things like that.
Speaker 1 (05:22):
I think it gives you a really good grounding.
It's funny you say that I wasthinking about when you were
saying your pocket money.
I always remember mum had thisbook of money that I would loan
out.
You know, I would go to themovies, go to the Sunshine Plaza
and go to see a movie, and we'dsort of $20 out, and at that
stage I was working in pharmacyabout $6 an hour so I could tell
you, I learnt really quicklywhere money went from.
(05:42):
So you know, obviously you know, having those beginnings allows
you to understand truly thevalue of every dollar and then
obviously now the ability tohelp many people as well.
Speaker 2 (05:54):
Yeah, it's definitely important, and the sooner the
better.
Speaker 1 (05:57):
Absolutely.
So what do you love most aboutyour role at Nestworth?
Speaker 2 (06:02):
So my most favourite thing to do in everything I do
is to say to my client you canresign, now it's time to retire.
Speaker 1 (06:10):
I love that.
That's a good catchphrase,isn't it?
Speaker 2 (06:12):
It's my favourite thing to do and I've done it
many, many times over the yearsand it never gets old because
it's their first time ofretiring.
So for them it's just the mostincredibly can be nerve wracking
and emotional, but exciting.
You know, it's just, it'sbeautiful, it really is.
Speaker 1 (06:31):
Yeah, it's.
You know.
I know that you and I havespoken, you know, recently.
You know, my parents have justbeen through.
You know, both sets of parentshave been through retirement
life now and it's been reallyinteresting to watch their
journey and I guess that's why,you know, I really wanted to
have you on was just tounderstand the value of, you
know, people not having tonecessarily wait until pension
(06:52):
age or and we'll break downthose misconceptions but, yeah,
what an amazing gift to people.
I met up with a friendyesterday.
He's one year retired and hesays he's actually got more
money in the bank than what he'ddrawn out.
So there really are a lot ofmisconceptions.
Do you know why that is?
Is it lack of education?
Speaker 2 (07:11):
I think people get quite fearful of getting other
people to help them with theirfinances.
A lot of people seem to thinkthat advisors, strategists, are
for rich people, people withlots of money, but the most
change and the most amazinguplifts I get are for people who
(07:31):
aren't.
That's amazing, Good advice.
It's the people who mightconsider themselves just to be
normal people with you know theymight have 500 grand between
them in super or even less.
There's some fantasticstrategies that we can use.
You know, use everything that'sin my tool belt, throw
everything at it, particularlyif we have five to 10 years
(07:53):
prior to retirement, we can goreally hard on that.
That's your ideal time framewould be 10, would be brilliant,
you know.
But obviously at any point I'vehad people walk into me and say
I'm retiring on Monday and I gookay, great, if we'd known this
maybe a couple of years ago,this would have been maybe a
different conversation.
But hey, you know, there isreally no late time.
(08:16):
Just get to an advisor whileyou can.
Speaker 1 (08:18):
Anytime.
It's so important, isn't it?
So tell us about your role andyour team as well.
Speaker 2 (08:24):
Yeah, horton, isn't it?
So tell us about your role andyour team as well.
Yeah, so Nesworth was aBrisbane firm and then now
they've started to spread theirwings.
So now we have Sydney andMelbourne and Canberra, gold
Coast and, most recently, theSunshine Coast.
So that's me.
I'm in the Sunshine Coast andwe're about 60 plus now, so it's
a great team.
(08:45):
There's so much education andjust in the team.
So if you've got a curly one,you just pick the phone up on
Teams and call someone who youknow in your circle that can
help you with that.
Speaker 1 (08:59):
It's such a great feeling to be part of a team,
isn't it?
You're not operating inisolation and certainly you can
brainstorm, and you know thatshared collective knowledge is
so powerful it really is, yeah.
So team members sort of behindthe scenes as well, or do you
kind of do an A to Z of atransaction with a client?
Speaker 2 (09:18):
So I do have a great team behind me.
So the main things for me ismaking sure that I'm really
clear about what the clientneeds.
So that is all face-to-face or,if we need to, over the phone
or on video, but then I have myclient service manager and then
we have all of the people behindthat help with the paperwork
and then, when it comes toimplementing, you've got your
(09:40):
person as well as me to help youthrough that and we obviously
the main goal there is thelittle that the client needs to
do, the better.
Speaker 1 (09:51):
Yes, I'm sure that they would appreciate it.
So how often would you see aclient?
I'm curious, you know, sayannually or more?
Speaker 2 (10:07):
Yeah.
So if they go on an ongoingservice, there is definitely
that one year, sometimes more,but my door's open.
So if my client needs me morethan that, then they come to me.
More than that, andparticularly in those first few
years of retirement, things canchange and we need to make sure
that everything's working theway it is.
Once we put someone into a plan, we do catch up with them
afterwards.
So there is lots of touchpoints there.
But, as I say officially, yes,once a year for an annual review
(10:31):
.
Obviously, behind the scenes,we're monitoring the investments
and making sure thateverything's doing as it should
and letting them know ifanything needs to change.
But, as I say, my door isalways open.
Speaker 1 (10:44):
It's a wonderful thing, and especially the
ability in this day and age tohave face-to-face meetings as
well.
It's really important.
I can imagine as well it's avery sensitive conversation for
a lot of clients.
I know speaking about money isa really trusted conversation to
have, so I imagine you have tobuild that trust.
So you chatted about yourtoolbox die.
(11:06):
So chat about some of thoseoptions that you've got for your
clients.
Speaker 2 (11:10):
So when we see a client, we are always
formulating in the back of ourminds what we could use for that
particular client.
Now, it depends with whetherthey're still working, young
children or are they gettingcloser to being empty nesters.
And then we're starting to talkabout, you know, being mortgage
free and then potentially inretirement.
So what we're trying to alwayslook is what are we doing?
(11:33):
So things for the youngerclients salary sacrifice, debt
reduction, you know, maybelooking at wealth creation and
using some debt strategiesaround that we want to make sure
they're protected.
So we want to make sure thatthey've got some life cover, et
cetera, to make sure that ifsomething terrible happens, we
don't have to throw the wholestrategy in the bin and start
(11:56):
again, and we want to make surethat people are safe in their
homes.
For our older clients we startto really start to look at, you
know, is is one spouse onlyworking part-time?
Can we use spouse contributions?
Is there things like salarysacrifice and, once I get to 60,
transition to retirementstrategies, things like that.
(12:18):
So it's all about what can wemake and save between now and
then.
Speaker 1 (12:23):
So it's a really lifelong journey I love.
I'm really grateful that youactually broke down each of
those I guess touch point ortime timeline components for
each client, because obviously Ican think of people that fit
into each of those and I canimagine if you're already
gearing up and having thatconversation and doing that
that's going to hold you in, youknow, really high stead as well
(12:43):
With your tools.
You also I said to you just offair that I had never heard of
say annuities.
Speaker 2 (12:52):
Annuities yeah, Annuities.
Speaker 1 (12:54):
So that was really exciting for me to learn more
from you, and what I really tookfrom you know your talk at the
seminar is really you are awealth of knowledge.
Again, pardon the pun, butreally you're going to really
take on and personalise theexperience for the client.
Everybody's different Reallyhave a look at everything that's
(13:15):
going on in their life and Imentioned to you off air as well
we don't have kids, so it kindof changes the strategy as well.
So you know how long does thatsort of timeframe take to build
a strategy for a client?
Do you mean the?
Speaker 2 (13:24):
actual building.
Speaker 1 (13:25):
Like a plan yeah.
Speaker 2 (13:26):
So what happens is they come and we sit down and we
talk through.
Now, as I said, there's factsand figures.
That's easy, that's a bitsimple, but I need to get into
the psyche of the client.
Are they risk adverse?
Are they got any fears?
Have they got any big goals ordreams or things that could
change how we would look at thelong-term strategy?
(13:46):
So then, once they leave myoffice, I then have the
opportunity to delve into whatthey've already got.
So we get all the research fromall of their super funds and
investments, and then I start toliterally sit and think about
how.
I can best make that work.
Sit and think about how I canbest make that work.
(14:09):
Once I get that clear, I putthat down on paper and then my
paraplanners will put thatthrough all of our projection
tools and make sure that whatI've thought in my head is
actually going to work, which, Ihave to say, touch wood nine
times out of 10, it does work,and I think that just comes with
time and experience.
Speaker 1 (14:25):
Yeah, so how many years now doing what you're
doing?
Speaker 2 (14:27):
So I started being a financial planner in 2013.
Speaker 1 (14:31):
Yeah, amazing, that's awesome.
So, coming up to 12 years now,amazing.
And what changes have you seenin the industry?
Speaker 2 (14:38):
Oh wow, so I actually started way back in around.
Oh no, oh sorry, 05, 06.
Yes, so just before GFC.
Yes, I was client serviceduring that period and obviously
the biggest learnings we tookfrom that was you know, things
that go up have to come down,and when a client is receiving
(15:01):
30% returns every year, thatthat is not sustainable.
So what I did learn veryquickly and has helped me with
future planning being a planneris you have to think about what
happens when things go down.
Yes, okay, so you know, makingsure we bucket out money, making
sure that we've got, you know,stable investments in there with
(15:24):
their jobs to do.
Speaker 1 (15:25):
And also you mentioned as well about
diversifying what people aredoing with their money as well,
so I'd love you to delve intothat, because I think you know
that's generally a misconception, isn't it, that people have.
Speaker 2 (15:38):
Yeah, so diversification can work across
your whole.
You know strategy when it comesto your whole amount of money
that you have in all yourdifferent areas.
A lot of people forget abouttheir super.
They don't see it as a realthing, and that's something that
really needs to change, becausethat's invested, that's in your
name and that's your pot ofmoney for your 60 plus.
(16:00):
So we want to look at what haveyou got in the bank, what debt
have you got, what investmentsdo you have, things like that,
so making sure and then whatproperties you have.
So you might have investmentproperties.
There's lots of different assetclasses.
So we have Australian shares,international shares, property,
and then you've got your fixedinterest components, which are
(16:21):
your more safer side of things.
But you've got to remember thatproperty can be international
and it can be Australian, it canbe commercial, it can be
residential.
There's so many differentversions of it.
So when we see our clients whocome in and they've started the
journey with investmentproperties, we then say, great,
(16:42):
good on you.
Fantastic, let's start buildingout something on the side that
gives you some diversificationinto those other areas.
Speaker 1 (16:49):
Yeah, amazing, and I think that's probably something
that I've enjoyed inself-educating and, you know,
learning from people likeyourself is that you know
thinking of different options or, I guess, not having to.
You know, create your ownmilestones, which is, you know,
I'll think about that when I'm60 and everything as well.
We are going to chat a littlebit about property and
self-managed super funds.
(17:10):
I got the impression that's anexciting topic for you.
Speaker 2 (17:14):
It's an interesting area for me and it's a very hot
topic at the moment.
Yes, Wonderful I'm seeing a lotof people coming through asking
the question.
Speaker 1 (17:22):
Yeah, I'm seeing a lot of ads on TV and everything
as well, so chat us through howthat works and, I guess,
ultimately how that can helppeople in their portfolio.
Speaker 2 (17:32):
So I think the biggest thing for investing in
property, in a self-managed, isone you have to be conscious of
the costings, so you know it'snot a cheap way to establish a
self-managed and ongoing.
You've got to think aboutauditing and things like that.
You also have to be veryeducated in what it is, what it
is, how it's set up and how itworks, because you are solely
(17:52):
responsible for that you can'tpalm the ATO off to your
accountant or your advisor toanswer your questions.
They want you to answer thequestion, so if you can't, then
there's a risk there.
So for people who want property, we're seeing a really big
uplift in people puttingcommercial property into
self-managed, where they own abusiness like a plumbing company
(18:16):
and they decide to buy a shed.
So that's a really greatstrategy to allow them to do
that.
For me, a self-managed superfund is all fine, as long as we
do build out that extra fund ofmoney in those other areas.
The main reason for that is youcan't take a brick out of a
(18:36):
property to pay something, andso liquidity is the biggest risk
that we see, particularly whenthey start to get ready for
retirement.
Where are they going to pullthose pension payments from?
Because you have to have aminimum drawdown every year if
the rent is not covering.
So my goal for most of myclients would be how debt-free
(18:59):
can we get you before then tostart?
Because that helps.
You've got the income coming inyes, yes.
But if there's still debt, thereis some real risk there and
that's why I always suggest thatearlier the better, because you
know.
But at the same time you need agood chunk of money in super to
start as well.
So it's sort of that 35 to45-year age group is sort of the
(19:21):
ultimate time that you wouldstart looking at that.
Speaker 1 (19:25):
Yeah, no, it's fascinating and you know again,
this is why it's about havingprofessionals in your corner and
making sure that obviouslyyou're engaging, you know, with
a financial strategist, but alsoyour accountant, and just
making sure that everybody is inagreeance with decisions that
ultimately, you know, impactyour future.
And I'm not afraid to say thatit's not going to work.
(19:45):
Yeah, I think that's what peopleneed, isn't it, ultimately, is
you know that's ultimately, whatthey're engaging you with is to
obviously carry that risk aswell.
There's been lots of changes inyour industry as well, with
legislation, I believe.
Speaker 2 (20:00):
Yep, lots of changes.
It's always a completelyevolving story and I'm very
thankful I have a really greatteam behind me who keeps me
abreast of anything that I needto physically be doing.
Yes, but you know, we arealways conscious of changes to
tax rates, we're conscious ofthings that might be coming up,
like with aged care and thingslike that.
(20:21):
So it's it's always learningnow, part of being a
professional.
We have to do that CPD.
We have to do 40 hours a year.
So that's really us delvinginto those changes.
Speaker 1 (20:31):
Yeah, it's wonderful, it's so important.
I mean, look, we have, you know, impending legislation changes
with the now industry, mybackgrounds in corporate
pharmaceuticals, which wasobviously, I would suggest, a
lot more regulated.
So it's very much how much mybrain works.
We did meet and hosted theseminar and really spoke to
people about that transition toaged care as well and you know,
(20:54):
I think that there's a lot ofmisconceptions in that space as
well, and you know around beingable to sell properties to move
into aged care, gifting to lovedones.
Can we chat about that a little?
Speaker 2 (21:06):
bit.
Well, we can.
I'm not actually a specialisedage care financial planner but I
have other people in mybusiness so I know enough to be
dangerous.
But the main things are is topick up where are they getting
the money from?
What is the best way for thatto be structured?
So should they pay all of it upfront?
(21:26):
Should they pay half of it upfront?
Is there some other things likeannuities that could help with
bringing some of those costingsdown and helping to fund?
So that's when I would pull inmy specialist and say here's my
client.
please help me and they wouldhelp me get that structured put
together and help my client.
Speaker 1 (21:46):
Yeah, cause it's an interesting thing.
I mean, I've had you knowobviously specialise in that
downsizing space and I'vecertainly heard you know clients
, or even you know peopleoutside of work that have sort
of spoke about that.
Oh look, we'll just sell aproperty and give everything to
our kids, and there's obviouslylots of ramifications.
Speaker 2 (22:02):
Yes, there's definitely ramifications.
Speaker 1 (22:04):
Has that always been the case or has it been
tightened over time?
Speaker 2 (22:07):
It depends where you're in, where you're at with
your wealth.
So once we are in theCentrelink world, there's just
so many rules that we have toabide by, the gifting rule being
the biggest one.
So you know Centrelink doesn'twant you giving away your money,
so you get more from Centrelink.
Speaker 1 (22:27):
That's the basic upshot of that.
Speaker 2 (22:29):
So you know there's a lot of restrictions around that
, and so it's really about whatare they trying to achieve?
Because I'm a big believer thatif we can get you a little bit
more Centrelink, great, butlet's not detriment our wealth,
for the sake of a few dollars,wonderful.
Speaker 1 (22:47):
And you're able to do that analysis of what's the
best way.
Speaker 2 (22:50):
So if you're going to lose some pension, say you get
an inheritance and it's going toreduce.
What are we doing with thatmoney to bridge that?
Speaker 1 (22:55):
gap.
Yeah, amazing, and I thinkthat's the thing.
That's probably where peopledon't have that education and
what we've learned, you knowvery much from that seminar is
people just don't know where toturn.
Obviously, you know they'vespent years, you know, working
and accumulating wealth, butthen obviously not knowing what
to do, or using more traditionalmethods as well, you know
(23:16):
whether it's just sitting in anormal bank account.
In a term deposit just rollingover.
Your worst nightmare?
Yeah, and I think again it'syou know, just genuinely people
not knowing where to turn andthat's why you know I love this
podcast series is just helpingpeople.
So if you could go back, Iguess even you know in your own
journey you've obviously beeneducated with wealth.
Are there things that you wouldhave changed with your you know
(23:38):
, financial strategy?
Speaker 2 (23:40):
I would have started earlier.
Yeah, so if I had known moreabout this industry earlier then
, I would have entered theindustry from school.
Yeah, it's amazing.
So back then you could becomean advisor very easily.
Obviously, there's been a lotof changes and tightening of
education standards, which Ithink is absolutely brilliant.
Speaker 1 (24:01):
Yeah, chat us through that.
So is that?
What qualifications did youneed to?
And I guess you know you spokeabout your ongoing education,
but in that initial stage.
Speaker 2 (24:09):
So literally, you could just get a few subjects of
a diploma and you know.
Then you could start practicing.
Speaker 1 (24:15):
Yes, terrifying.
Speaker 2 (24:17):
Terrifying.
And you know it wasn't until Ientered the banks as far as
planning in a bank that I reallystarted to learn my craft, and
you know I'd been a planneralready for a year or so and in
the industry for another bigchunk of time before that.
So it was terrifying.
And what we did see during GFCor prior to GFC was it was so
(24:42):
easy to make money that nobodyreally got caught out of being a
bad advisor until after.
Yeah, because it was so simple.
You could put your money inanything and you made money
after you couldn't.
Speaker 1 (24:56):
Yeah, and look, it's interesting.
You say that it's a little bitlike I mean, I've been in real
estate a long time but wedefinitely had a period of a
number of years there where itwas pretty simple to be able to
transact real estate just due tothe genuine demand and
obviously people's access to.
You know what was essentiallyalmost free money at that stage
as well, so I can relate to that.
You know coming off the tailend of that as well and
(25:20):
certainly seeing loss as well,you know, from inflated prices.
Any other misconceptions ormyths about your industry you'd
like to dispel?
Speaker 2 (25:29):
well, as I said before, you know, people just
think we're doing numbers.
We're talking about your superor your investments or shares.
You know it's a lot more biggerthan shares.
There's a lot of tools in ourtoolbox, as we talked about
before.
Um, it's really, you know, whenthey're just those, things are
just literally tools.
So super shares, investments,property ETFs, annuities, bonds,
(25:56):
they're all literally the tools.
They're not the actual job, thejob is what do you want from
life?
What are your goals?
How are we going to get youthere?
Speaker 1 (26:06):
in the most you know, my biggest thing is work
smarter, not harder, absolutelyso I was just saying to you I've
just finished a book called DieWith Zero and in that and don't
quote me a hundred percent onthe figures but he says that if
you die with $150,000, it's 2.7years of sitting at your desk on
average and it's just, it'sjust a figure that just keeps
(26:26):
sitting with me and it's areally interesting, you know,
component and I think it's, youknow, we do need to really have
a look and you've got a family,I do.
Speaker 2 (26:36):
I have a son who's almost 16, which is very
terrifying because that meanswe'll be getting learners very
soon and my husband I met himwhen we were in England.
Yeah, is he English?
He's English Great.
Yeah, my husband, I met himwhen we were in.
Speaker 1 (26:48):
England.
Yeah, is he English.
He's English Great.
Yeah, my husband is too so togive approval.
Speaker 2 (26:52):
Yeah, yeah.
Speaker 1 (26:53):
So I asked about your son because I'm curious about
your.
I guess, educating him aroundfinances, Is that something that
you've been passionate.
Speaker 2 (27:01):
Yeah, definitely yep.
So we use an app which has abank account attached to it that
allows you to set goals.
Yes, and he is learning becausehe's very, very tight with his
money.
Speaker 1 (27:13):
Yeah, there you go.
Let me tell you, yeah, amazing.
Speaker 2 (27:16):
If he can get mum and dad to pay for it, he will.
So he's a strategist.
Yeah, he's already a strategist.
But, yeah, I really encourageparents to look into looking at
those platforms where you canhave those goals you know, and
it can be as simple, like at themoment he's saving up to get a
gaming PC yeah, great.
So you know he's got the goldin there.
(27:36):
He puts money against the goldand you know when it gets there
he can move it to the card andhe can buy it.
Speaker 1 (27:42):
So you know we've been doing that for years,
that's incredible and I thinkthat you know there is a real
trend towards that gamificationof it.
I know that's very much myhusband and I that motivates us.
So you know, when we were doingsome debt consolidation, we
literally had, you know, not anapp but some pen and paper and
we would literally justhighlight off, you know each,
you know $100 or whatever theachievement was.
(28:04):
I'd never done that before andit was so much fun.
Speaker 2 (28:07):
It's very.
You just get really goodfeeling when you get to wipe
that off.
Speaker 1 (28:12):
Yeah that's exactly right.
And then tear the sheet up wasa big moment.
And again, you know I grew up.
It was, you know, basicallyjust my mum and I, so you know
there was never a surplus offunds or anything like that.
So to be in that scenario wasreally amazing.
Speaker 2 (28:26):
The to-do list is goals and objectives you know,
in our world, but it is assimple as your to-do list.
Speaker 1 (28:32):
Yeah, and your ideal client.
What do they look like?
Speaker 2 (28:35):
Oh look, I'm happy to look after anyone, but my
favourite is definitely that 50to 60.
And I do love my retirees.
Yes, oh my goodness and hearingall their adventures and things
like that.
I love it.
But you know, 50 to 60, we'restarting to see kids leaving the
nest or finishing school.
We always get an influx ofpeople who, like kids, have
(29:01):
finished private school and thenext thing they've got like
$15,000 a year.
That is now surplus.
So there's so much that can bedone in that age group and you
know, once you start saying,well, your super's currently
available to you at 60, if youretire then, then it starts to
become really close.
Yeah, that's right when you're55 and it's only five years away
(29:22):
.
You can really start dreamingabout that.
Speaker 1 (29:25):
And is that a surprise to a lot of people?
Yeah, it is.
Yeah, that's amazing.
Speaker 2 (29:32):
They're kind of thinking that they've still got
another.
You know whatever.
Speaker 1 (29:33):
Got to work till 67, because that's when age pension
starts.
Yes, and for my generation, Imean, you know I'm, you know,
astute enough to know that theremay not be one.
And also, like I said, you knowI've always had an interest in
super and you know I'm a bit ofa nerd for that as well.
I check it, you know, sometimesevery day.
During COVID it was justgrowing at such a great rate but
(29:53):
probably needed to get more ofa live.
But yeah, it's been amazing tohave a look and kind of you know
, benchmark what you should haveExactly and you know, to be in
that sort of fortunate positionto have had that education from
a long time ago.
Speaker 2 (30:06):
What we're really starting to see now.
Traditionally we would see theman would have the most and the
woman would have very littleokay, because of that whole
childbearing area part, and thenit wasn't really seen that
women really needed to go backinto the workforce.
So they're sort of now in theretirement.
(30:27):
So they're there.
We're now starting to see thesebeautiful super funds starting
to come through, because thecompulsory has been there for a
lot longer.
Yes, so the good news is forany of us who are, you know, had
super from when we started ourworking careers because of that
compulsory super we were alreadyway ahead.
Speaker 1 (30:47):
Yeah, and it's been growing each year yeah, that's
it.
Percentage, yeah, yeah, no, Ithink that's been a really
remarkable change to see, andyou know, I think of my parents
generation, when it wasn'tcompulsory as well.
Speaker 2 (30:57):
Um, so you know, that's definitely something it's
your second largest assetbehind your home, so you know,
by the time you get toretirement generally.
So we, you need to look afterit and you need to own it.
Yes, it's yours, it's realmoney.
It's invested in, you know,whichever way you've got it
invested, do you know that?
Do you know what it's doing?
(31:18):
Is your beneficiary set up?
What happens if you?
Speaker 1 (31:21):
die.
I was going to ask about thatbecause that's probably you know
something that I hear so oftenthat people haven't got
beneficiaries set up yeah, outof date.
What happens if that's the case?
Speaker 2 (31:34):
So basically it's the discretion of the fund.
So they will normally golooking.
Someone will normally golooking for the money yes, most
people do but then they'll haveto go through the whole process
of you know if there's a will orwhatever.
Now, if there is no will, thenit gets really complicated and
expensive for the family becausethen they have to do that all
this extra.
The solicitors have to do somuch extra work.
Speaker 1 (31:56):
Yeah, and just with regards to the beneficiaries,
are we able to speak about taximplications?
Speaker 2 (32:03):
for that?
Yeah, so inside of a super fundthere is a taxable and a
tax-free component, and that'ssomething that most people don't
look at or are aware of.
It's something that it's reallybecome a bit of a pet project
for me and my clients.
So if you pass away and yoursuper goes to your partner or a
(32:27):
child who is financiallydependent on you, then the tax
there is no tax, so we don'thave to worry.
But if you're single or youknow widowed or you choose to
give that money to your childrenand they're grown and they're
making their own money, thenthat taxable component is going
to be taxed to them when theyreceive those funds.
(32:47):
Now if a binding nomination ora nomination is on the super, it
doesn't go through your willunless you ask it to.
So it's something that once weget our clients into retirement
phase and we open therestriction up, we can do some
really great strategies aroundstripping out some of that
taxable component and putting itback in as tax free.
So that's becomes reallyimportant, particularly around
(33:10):
that single with adult childrenor even not having any children
and wanting to leave that moneyto maybe nieces or nephews or
charity, then that's all goingto be really important.
Speaker 1 (33:21):
Amazing.
I remember when I heard youdiscussing that.
I mean I had no idea of all ofthese things that are possible
and, like I said, I thinkthere's just a lack of education
.
Do you think that there'sadequate education around?
You know financial componentswith schooling, definitely not,
I would adore it.
Speaker 2 (33:39):
I would love to get into a school and teach us, you
know, a term of just financialliteracy.
You know they do talk a littlebit around.
You know loans and credit cardsand things like that, but they
don't.
As far as I'm listening to myson, it doesn't sound like
they're still not doing mucharound that super and really
getting people to understandwealth creation and things like
(34:03):
that.
And you know, trying to createthose income streams where you
don't physically have to work.
You know, so there is so manydifferent ways that you can do
things.
Speaker 1 (34:13):
Yeah, I'm just always perplexed with the amount of
life skills and things like thatthat aren't taught.
Is there places that people canfind that information, the
Money, smart?
Speaker 2 (34:25):
website, the government one, is actually
really helpful Okay excellent.
There's some great calculatorson there, particularly around
you know, like debt reductionand things like that how to pay
off your home loan sooner.
It also, you know, there issome calculations for our
retirement and things like thatin there as well, and there's
lots of educational pieces inthere.
Speaker 1 (34:43):
Excellent, so it's good to know that it's there.
It's just perhaps people's, youknow, not knowing that they can
access that as well.
Yeah, it is an easy readingwebsite.
Well, I would imagine mostpeople need that because it is a
complex world, isn't it?
It sure is, that's for sure,wonderful.
So we've got an idea of, Iguess, your ideal client.
What does a day in the lifelook like?
Speaker 2 (35:06):
Well, I have one child, so that makes things a
little bit simpler.
So, after we get him to school,and then it really looks at
what's my day for today.
So, have I got clients?
Have I got staff meetings andthings like that so really
office-based in that respect.
So get behind my computer andthen the day starts.
(35:26):
So, you know, in a normal day Imight have a review and a new
client appointment, so it willbe sitting down with those
people.
So, new clients who are they?
What's going on with them?
What do they need to achieve?
For my review clients iseverything okay.
Have you got enough money Isokay.
What are you doing for the nextyear?
Do we need to factor in thatyou're going on a cruise or
(35:49):
something like that?
And then the rest of the day isthat note-taking strategy, work
, um, delving into the, the backend of it and, you know, making
sure that everybody's goteverything happening the way
they should.
Speaker 1 (36:02):
yeah, that's awesome.
Look, that was something I hadno idea.
I hadn't really thought of that.
I guess I assumed you sat downand maybe you put it into a
computer and it kind of spat outa plan.
So I'm sorry that I had that.
Yeah, we do have projectionpieces, of course, but we still
have to have that human overlay.
Speaker 2 (36:19):
Yes, we are definitely moving towards more
of an ai environment and thereis going to be tools that do do
that type of thing, but it isdefinitely still in my mind, and
I think still in the broaderindustry, that nothing beats a
human.
Speaker 1 (36:37):
yeah, it sounds like it especially to be able to
navigate such a complex Oneperson can have.
Speaker 2 (36:45):
This is the perfect way to create your wealth.
Speaker 1 (36:48):
Yes.
Speaker 2 (36:49):
And this is the one that gives you a better
lifestyle.
This one helps you sleep atnight.
Speaker 1 (36:53):
Yes.
Speaker 2 (36:54):
So a computer doesn't know that you're scared of that
one.
Correct, that's exactly right.
It just knows, that's the best.
Speaker 1 (36:59):
Yeah, that's exactly right, it's really interesting.
And then, yeah, without taking,and I guess geographically and
everything as well, you know,property investing here versus,
you know, overseas, orresidential versus commercial is
obviously, you know, higherrisks involved.
Yep, that's right.
Yeah, amazing, wow.
Well, we have covered off somuch.
If you weren't, I can't evenimagine that you wouldn't be
(37:20):
doing anything than what you arebecause you're so passionate.
But if you weren't, what wouldyou like to do?
Speaker 2 (37:25):
Oh look, I do have a dirty little secret.
I love those.
I do love pimple popping videos.
I probably would have been adermatologist, I reckon, if I'd
thought about it sooner.
Speaker 1 (37:37):
That's fantastic.
You're either into it or you'renot right, so don't judge me,
you're either the popper or theone that's being popped as well.
No, I love that Good thatthere's a job for it.
Right, you mentioned about yourfamily, but I'd love to know
what's been the best day of yourlife.
Speaker 2 (37:58):
Well, I mean, as most mothers would say, the day that
they give birth.
I mean my birth story wasn'tvery pleasant, so I guess maybe
the day after that's a commontheme on the podcast.
Speaker 1 (38:11):
Yeah, yeah.
Speaker 2 (38:12):
Look, you know, it's all those big time things.
I think getting on the plane toLondon was very.
It was, you know, liberating toafter living in.
You know, liberating to afterliving in.
You know Sunshine Coast backthen was very sleepy.
Speaker 1 (38:27):
Yeah, because you were a born and bred local as
well.
Yeah, born and bred local.
Speaker 2 (38:29):
Not many of us here, not many left, so getting on
that plane and becoming the dieI wanted to become was really
liberating.
Speaker 1 (38:38):
That's amazing.
So brave because it is.
It's a huge undertaking, isn'tit?
Yeah, yeah, and family weresupportive of the move, 100%, oh
, that's amazing.
Speaker 2 (38:46):
So I mean now I think back and think, oh my God, they
let their daughter get on aplane to London by herself.
Speaker 1 (38:52):
Yeah, no phone or internet.
Well, I'm making thatpresumption.
Well, I had to catch a bus tothe next town to go to an
internet cafe.
Speaker 2 (39:00):
Yes, so it was.
Yeah, it was definitely likethat.
But yeah, obviously, meeting myhusband, getting married,
having Chase was, you know,they're all just massive
highlights.
Speaker 1 (39:10):
That's amazing, and he enjoys Australia, your
husband.
Speaker 2 (39:12):
Yeah, yeah, of course he's not going back.
Speaker 1 (39:14):
Yeah, a lot of people go this way, don't they?
They don't go the other way.
So you obviously spent time inLondon, but where would be your
ideal holiday destination?
Speaker 2 (39:24):
So funny story was that I went to London and part
of my ticket was a return tripto Rome and it was coming up to
it expiring and I said to myboyfriend at the time I need to
do this trip to Rome and we weredoing some other stuff and he
says I'll take you another time.
We never went, so I put my footdown and so my long service
(39:50):
leave is now for when I'm 55, Iwill be going to Italy and I've
said I'm going to spend thewhole three months of that visa
in Italy living it up and he cancome if he wants.
Amazing.
But if he doesn't want, to thenI'll go by myself, You're happy.
Speaker 1 (40:05):
So it's always stuck there as something to do?
Yeah, it's got to be something.
I need to live it.
Yes, that's amazing.
So is it?
Eat, pray Love?
Did she go to Italy?
Speaker 2 (40:13):
Yes, that definitely didn't help the situation, but
we're big travellers so we tryand travel as much as we can.
Speaker 1 (40:21):
It's so important and Chase enjoys travelling.
Oh my goodness, yeah, yeah.
Speaker 2 (40:24):
His first plane trip he was seven months old, Amazing
To Thailand.
He popped five teeth on thatholiday and anyway, Thailand has
really good pain relief For mumas well.
So he's used to planes.
Speaker 1 (40:40):
Yeah, awesome.
Speaker 2 (40:40):
He's used to airports .
He walks through an airportlike he owns it.
Yeah, he could probably get mewherever I wanted now because
he's just so confident.
Speaker 1 (40:48):
That's amazing.
Oh, you must be so proud.
Yeah, I am.
He's a lovely boy.
What's his?
Speaker 2 (40:52):
plans post-school.
So he is avid soccer player, orfootball as he would say.
Speaker 1 (40:58):
Yes.
Speaker 2 (40:58):
And so his big goal?
He's going to work towardsgoing into a trade, yes, but he
wants to go spend some time inthe UK Amazing and play football
over there Awesome and hang outwith his cousins.
So that's his goal for the next, probably, year.
So he's nearly 16.
So, yeah, that'll probably bethe next sort of five to six
(41:18):
years of his life, so you mightbe sending him off to London as
well.
Yeah, no, I'm heartbrokenalready at the thought of it.
Oh bless.
Speaker 1 (41:26):
What is your favourite food and drink to
enjoy?
Speaker 2 (41:29):
So my favourite food is a bit strange.
I'm just addicted to duck liverpate.
Speaker 1 (41:35):
It's really bad for my stomach and I shouldn't eat
it.
Speaker 2 (41:38):
Yeah, but if it's on the menu, I'm going to order it.
Speaker 1 (41:41):
That's amazing, I don't know.
Speaker 2 (41:42):
I don't know that's come from London.
Speaker 1 (41:43):
Yeah, I've never really, to be honest, I've never
tried it.
Yeah.
Speaker 2 (41:47):
Yeah, I didn't eat it before I went there and
whereabouts is your favouriteduck liver pate?
So it's a big.
It's either Boat Shed, yes, andUba Deco at Yandina, Okay.
Speaker 1 (42:02):
They're the two favourites.
You know where your duck liverpate is?
Yeah, I do.
Speaker 2 (42:06):
And to go alongside it to drink.
So I'm a pinot grigio girl, yes, and that's pretty much my
staple.
Now.
It's, yeah, gone past and don'treally do the spirits or
anything like that, but yeah, agood crisp Italian Pinot Grigio.
Speaker 1 (42:23):
There you go, Girl knows her wine Di.
It's been a pleasure to haveyou.
I always love to ask the guestsas we finish up what your
favourite quote or saying isDon't sweat the small stuff.
Hey, that's a good one, isn'tit?
Yeah, so so true.
Life is so precious, isn't it?
Well, Ms Tyscott, that wasabsolutely beautiful to have you
.
I could have delved so muchdeeper, so I'm no doubt we'll
(42:46):
have to have you back to havemore finance chats, but it's
been an absolute pleasure tohave you here.
Thank you for all of yourknowledge, your openness to
share and how you're incrediblychanging your client's life.
Speaker 2 (42:59):
Thank you, amy, I appreciate it.
Speaker 1 (43:02):
Thank you for listening to this episode of
Beyond the Signboard.
We trust you enjoyed it as muchas we enjoyed making it for you
.
If there are any topics youwant covered in the future, make
sure you reach out and let usknow.
Also, feedback and suggestionsare appreciated almost as much
as likes, shares and downloads.
Welcome to Beyond the Signboard, where you get the
opportunity to learn all thereis to know about your real
estate journey fromprofessionals who are passionate
about property.
I'm Amy Bennett, your host, andI look forward to providing you
with education, inspiration anda behind-the-scenes look at the
world of real estate.
Hi everyone, it's Amy Bennetthere, host of Beyond the
(00:30):
Signboard, Delighted to welcomean amazing guest.
Her name is Di Scott.
She's a financial strategistfrom Nestworth Financial
Strategists.
Welcome, Di.
Speaker 2 (00:39):
Hi, amy, thanks for inviting me.
Speaker 1 (00:42):
Oh, my pleasure.
I always say I just said offair.
It's always a brave step injumping in front of the
microphone, but I know you'regoing to offer our listeners so
much information.
I hope so.
I know so Before we get into it.
I just asked you about yourtitle.
So financial strategist I'veheard financial planner advisor.
(01:03):
Do you want to just give us alittle bit of an insight?
Are they all different?
Speaker 2 (01:07):
They're exactly the same, so it's really just a
preference.
Speaker 1 (01:11):
Yeah.
Speaker 2 (01:11):
We like the word strategist because it shows that
we're going beyond just theinvestments.
It's about making your lifericher.
Speaker 1 (01:19):
Amazing, and it is certainly a hot topic at the
moment.
We've got so much to delve into.
You have such a wealth ofknowledge.
Pardon the pun.
I had the privilege of joiningyou at a seminar recently and I
learned so much.
I've always been a bit of afinance and superannuation nerd,
so I've really enjoyed gettingto know you.
(01:39):
We actually met through yourmember of a B&I group, that's
correct.
Speaker 2 (01:43):
Yep Team Momentum Go, go go.
Speaker 1 (01:46):
And you know obviously a really good
contributor to that.
Before we kind of get into it,you know how long have you been
in BNI?
Speaker 2 (01:53):
So this is my third year in the group and, wow, it's
been a journey, definitely justthe self-confidence and getting
what we do out to the broadernetwork, and it's amazing how
much people or little peopleknow about their finances and
just different ways they canhelp themselves.
Speaker 1 (02:14):
Yeah, absolutely.
And so what I love most aboutyour group, so you meet every
week.
You've got, you know, 29, so 28other advocates for your
business, and it's just reallyinteresting.
I quite often come in as asubstitute and just learning the
, I guess, the width and thebreadth of how those connections
go.
And you know, I have no doubtthat you've helped many people
in the group, but also that youalso work alongside, like
(02:36):
accountants and everything aswell, don't you?
Yeah?
Speaker 2 (02:38):
that's right.
It's a really important part ofour business is to be able and
for us to be able to help ourclients much more broader.
So if we can get in front ofyour accountant and sometimes
the solicitor if it's aroundstate planning, we can make sure
those pieces all slot togetherperfectly, because it can get
really confusing if theaccountant doesn't know what
(02:58):
you're doing and vice versa.
Speaker 1 (03:02):
Yeah Well, we're going to delve deeper about that
, because I know that that'sreally important too, is that
holistic strategy and workingwith other professionals.
But before you're a financialstrategist, let's go back to
chat us through your careerjourney from then to now.
Speaker 2 (03:15):
So I started as a legal secretary.
Speaker 1 (03:18):
Amazing.
Speaker 2 (03:18):
Yes, yep, so personal injury was working for a local
firm and I mean it was fastpaced.
I loved it.
I loved that we were helpingpeople who were in a vulnerable
situation.
And then I decided to gotravelling.
So I went off to London and metmy now husband and stayed for
(03:39):
four years.
So during that period did allthe backpacking stuff and worked
in a pub and then back to legaland then I ended up in
corporate investigations.
So, that was really interestingOnce again, as, like a personal
assistant, it wasn't till I gotback to Australia and I was like
I need a change.
What am I going to do now thatI literally stumbled into
(04:03):
financial planning.
I wasn't sure what I was doingand what was going on, but I
very quickly learnt that theywere helping people to see their
life be the way they wanted itto be, and it was just.
It felt like a light bulb wentoff.
Speaker 1 (04:20):
It's amazing and I'm always curious because obviously
you know the path that we'reled into.
Sometimes it's based on our ownpersonal circumstances and so
often I know, you know, when Ispeak to people, if they've got
a financial strategist orplanner, you know they kind of
think, hey, that's when I'molder or due to, you know, get
closer to retirement, so I'm,you know, really interested in
(04:40):
when you were growing up, didyou kind of have a passion for
finance and interest there?
Speaker 2 (04:44):
No, not really.
Speaker 1 (04:45):
To spending money?
Yeah, no.
Speaker 2 (04:47):
Saying that I would always very carefully plan my
$15 a fortnight pocket money andmake sure that I was thinking
hey, you did well.
Speaker 1 (04:54):
$15.
Speaker 2 (04:55):
Yeah thinking what I was going to do and what was
coming up and what.
I had to save for.
So I guess I've always had thatmindset.
Didn't grow up in an overly youknow wealthy family or anything
.
We were very, you know, just anormal Australian family, so
things like budgeting was alwayssomething that was part of my
(05:16):
life.
I guess from listening to mymother and you know what we
could have and what we couldn'thave and things like that.
Speaker 1 (05:22):
I think it gives you a really good grounding.
It's funny you say that I wasthinking about when you were
saying your pocket money.
I always remember mum had thisbook of money that I would loan
out.
You know, I would go to themovies, go to the Sunshine Plaza
and go to see a movie, and we'dsort of $20 out, and at that
stage I was working in pharmacyabout $6 an hour so I could tell
you, I learnt really quicklywhere money went from.
(05:42):
So you know, obviously you know, having those beginnings allows
you to understand truly thevalue of every dollar and then
obviously now the ability tohelp many people as well.
Speaker 2 (05:54):
Yeah, it's definitely important, and the sooner the
better.
Speaker 1 (05:57):
Absolutely.
So what do you love most aboutyour role at Nestworth?
Speaker 2 (06:02):
So my most favourite thing to do in everything I do
is to say to my client you canresign, now it's time to retire.
Speaker 1 (06:10):
I love that.
That's a good catchphrase,isn't it?
Speaker 2 (06:12):
It's my favourite thing to do and I've done it
many, many times over the yearsand it never gets old because
it's their first time ofretiring.
So for them it's just the mostincredibly can be nerve wracking
and emotional, but exciting.
You know, it's just, it'sbeautiful, it really is.
Speaker 1 (06:31):
Yeah, it's.
You know.
I know that you and I havespoken, you know, recently.
You know, my parents have justbeen through.
You know, both sets of parentshave been through retirement
life now and it's been reallyinteresting to watch their
journey and I guess that's why,you know, I really wanted to
have you on was just tounderstand the value of, you
know, people not having tonecessarily wait until pension
(06:52):
age or and we'll break downthose misconceptions but, yeah,
what an amazing gift to people.
I met up with a friendyesterday.
He's one year retired and hesays he's actually got more
money in the bank than what he'ddrawn out.
So there really are a lot ofmisconceptions.
Do you know why that is?
Is it lack of education?
Speaker 2 (07:11):
I think people get quite fearful of getting other
people to help them with theirfinances.
A lot of people seem to thinkthat advisors, strategists, are
for rich people, people withlots of money, but the most
change and the most amazinguplifts I get are for people who
(07:31):
aren't.
That's amazing, Good advice.
It's the people who mightconsider themselves just to be
normal people with you know theymight have 500 grand between
them in super or even less.
There's some fantasticstrategies that we can use.
You know, use everything that'sin my tool belt, throw
everything at it, particularlyif we have five to 10 years
(07:53):
prior to retirement, we can goreally hard on that.
That's your ideal time framewould be 10, would be brilliant,
you know.
But obviously at any point I'vehad people walk into me and say
I'm retiring on Monday and I gookay, great, if we'd known this
maybe a couple of years ago,this would have been maybe a
different conversation.
But hey, you know, there isreally no late time.
(08:16):
Just get to an advisor whileyou can.
Speaker 1 (08:18):
Anytime.
It's so important, isn't it?
So tell us about your role andyour team as well.
Speaker 2 (08:24):
Yeah, horton, isn't it?
So tell us about your role andyour team as well.
Yeah, so Nesworth was aBrisbane firm and then now
they've started to spread theirwings.
So now we have Sydney andMelbourne and Canberra, gold
Coast and, most recently, theSunshine Coast.
So that's me.
I'm in the Sunshine Coast andwe're about 60 plus now, so it's
a great team.
(08:45):
There's so much education andjust in the team.
So if you've got a curly one,you just pick the phone up on
Teams and call someone who youknow in your circle that can
help you with that.
Speaker 1 (08:59):
It's such a great feeling to be part of a team,
isn't it?
You're not operating inisolation and certainly you can
brainstorm, and you know thatshared collective knowledge is
so powerful it really is, yeah.
So team members sort of behindthe scenes as well, or do you
kind of do an A to Z of atransaction with a client?
Speaker 2 (09:18):
So I do have a great team behind me.
So the main things for me ismaking sure that I'm really
clear about what the clientneeds.
So that is all face-to-face or,if we need to, over the phone
or on video, but then I have myclient service manager and then
we have all of the people behindthat help with the paperwork
and then, when it comes toimplementing, you've got your
(09:40):
person as well as me to help youthrough that and we obviously
the main goal there is thelittle that the client needs to
do, the better.
Speaker 1 (09:51):
Yes, I'm sure that they would appreciate it.
So how often would you see aclient?
I'm curious, you know, sayannually or more?
Speaker 2 (10:07):
Yeah.
So if they go on an ongoingservice, there is definitely
that one year, sometimes more,but my door's open.
So if my client needs me morethan that, then they come to me.
More than that, andparticularly in those first few
years of retirement, things canchange and we need to make sure
that everything's working theway it is.
Once we put someone into a plan, we do catch up with them
afterwards.
So there is lots of touchpoints there.
But, as I say officially, yes,once a year for an annual review
(10:31):
.
Obviously, behind the scenes,we're monitoring the investments
and making sure thateverything's doing as it should
and letting them know ifanything needs to change.
But, as I say, my door isalways open.
Speaker 1 (10:44):
It's a wonderful thing, and especially the
ability in this day and age tohave face-to-face meetings as
well.
It's really important.
I can imagine as well it's avery sensitive conversation for
a lot of clients.
I know speaking about money isa really trusted conversation to
have, so I imagine you have tobuild that trust.
So you chatted about yourtoolbox die.
(11:06):
So chat about some of thoseoptions that you've got for your
clients.
Speaker 2 (11:10):
So when we see a client, we are always
formulating in the back of ourminds what we could use for that
particular client.
Now, it depends with whetherthey're still working, young
children or are they gettingcloser to being empty nesters.
And then we're starting to talkabout, you know, being mortgage
free and then potentially inretirement.
So what we're trying to alwayslook is what are we doing?
(11:33):
So things for the youngerclients salary sacrifice, debt
reduction, you know, maybelooking at wealth creation and
using some debt strategiesaround that we want to make sure
they're protected.
So we want to make sure thatthey've got some life cover, et
cetera, to make sure that ifsomething terrible happens, we
don't have to throw the wholestrategy in the bin and start
(11:56):
again, and we want to make surethat people are safe in their
homes.
For our older clients we startto really start to look at, you
know, is is one spouse onlyworking part-time?
Can we use spouse contributions?
Is there things like salarysacrifice and, once I get to 60,
transition to retirementstrategies, things like that.
(12:18):
So it's all about what can wemake and save between now and
then.
Speaker 1 (12:23):
So it's a really lifelong journey I love.
I'm really grateful that youactually broke down each of
those I guess touch point ortime timeline components for
each client, because obviously Ican think of people that fit
into each of those and I canimagine if you're already
gearing up and having thatconversation and doing that
that's going to hold you in, youknow, really high stead as well
(12:43):
With your tools.
You also I said to you just offair that I had never heard of
say annuities.
Speaker 2 (12:52):
Annuities yeah, Annuities.
Speaker 1 (12:54):
So that was really exciting for me to learn more
from you, and what I really tookfrom you know your talk at the
seminar is really you are awealth of knowledge.
Again, pardon the pun, butreally you're going to really
take on and personalise theexperience for the client.
Everybody's different Reallyhave a look at everything that's
(13:15):
going on in their life and Imentioned to you off air as well
we don't have kids, so it kindof changes the strategy as well.
So you know how long does thatsort of timeframe take to build
a strategy for a client?
Do you mean the?
Speaker 2 (13:24):
actual building.
Speaker 1 (13:25):
Like a plan yeah.
Speaker 2 (13:26):
So what happens is they come and we sit down and we
talk through.
Now, as I said, there's factsand figures.
That's easy, that's a bitsimple, but I need to get into
the psyche of the client.
Are they risk adverse?
Are they got any fears?
Have they got any big goals ordreams or things that could
change how we would look at thelong-term strategy?
(13:46):
So then, once they leave myoffice, I then have the
opportunity to delve into whatthey've already got.
So we get all the research fromall of their super funds and
investments, and then I start toliterally sit and think about
how.
I can best make that work.
Sit and think about how I canbest make that work.
(14:09):
Once I get that clear, I putthat down on paper and then my
paraplanners will put thatthrough all of our projection
tools and make sure that whatI've thought in my head is
actually going to work, which, Ihave to say, touch wood nine
times out of 10, it does work,and I think that just comes with
time and experience.
Speaker 1 (14:25):
Yeah, so how many years now doing what you're
doing?
Speaker 2 (14:27):
So I started being a financial planner in 2013.
Speaker 1 (14:31):
Yeah, amazing, that's awesome.
So, coming up to 12 years now,amazing.
And what changes have you seenin the industry?
Speaker 2 (14:38):
Oh wow, so I actually started way back in around.
Oh no, oh sorry, 05, 06.
Yes, so just before GFC.
Yes, I was client serviceduring that period and obviously
the biggest learnings we tookfrom that was you know, things
that go up have to come down,and when a client is receiving
(15:01):
30% returns every year, thatthat is not sustainable.
So what I did learn veryquickly and has helped me with
future planning being a planneris you have to think about what
happens when things go down.
Yes, okay, so you know, makingsure we bucket out money, making
sure that we've got, you know,stable investments in there with
(15:24):
their jobs to do.
Speaker 1 (15:25):
And also you mentioned as well about
diversifying what people aredoing with their money as well,
so I'd love you to delve intothat, because I think you know
that's generally a misconception, isn't it, that people have.
Speaker 2 (15:38):
Yeah, so diversification can work across
your whole.
You know strategy when it comesto your whole amount of money
that you have in all yourdifferent areas.
A lot of people forget abouttheir super.
They don't see it as a realthing, and that's something that
really needs to change, becausethat's invested, that's in your
name and that's your pot ofmoney for your 60 plus.
(16:00):
So we want to look at what haveyou got in the bank, what debt
have you got, what investmentsdo you have, things like that,
so making sure and then whatproperties you have.
So you might have investmentproperties.
There's lots of different assetclasses.
So we have Australian shares,international shares, property,
and then you've got your fixedinterest components, which are
(16:21):
your more safer side of things.
But you've got to remember thatproperty can be international
and it can be Australian, it canbe commercial, it can be
residential.
There's so many differentversions of it.
So when we see our clients whocome in and they've started the
journey with investmentproperties, we then say, great,
(16:42):
good on you.
Fantastic, let's start buildingout something on the side that
gives you some diversificationinto those other areas.
Speaker 1 (16:49):
Yeah, amazing, and I think that's probably something
that I've enjoyed inself-educating and, you know,
learning from people likeyourself is that you know
thinking of different options or, I guess, not having to.
You know, create your ownmilestones, which is, you know,
I'll think about that when I'm60 and everything as well.
We are going to chat a littlebit about property and
self-managed super funds.
(17:10):
I got the impression that's anexciting topic for you.
Speaker 2 (17:14):
It's an interesting area for me and it's a very hot
topic at the moment.
Yes, Wonderful I'm seeing a lotof people coming through asking
the question.
Speaker 1 (17:22):
Yeah, I'm seeing a lot of ads on TV and everything
as well, so chat us through howthat works and, I guess,
ultimately how that can helppeople in their portfolio.
Speaker 2 (17:32):
So I think the biggest thing for investing in
property, in a self-managed, isone you have to be conscious of
the costings, so you know it'snot a cheap way to establish a
self-managed and ongoing.
You've got to think aboutauditing and things like that.
You also have to be veryeducated in what it is, what it
is, how it's set up and how itworks, because you are solely
(17:52):
responsible for that you can'tpalm the ATO off to your
accountant or your advisor toanswer your questions.
They want you to answer thequestion, so if you can't, then
there's a risk there.
So for people who want property, we're seeing a really big
uplift in people puttingcommercial property into
self-managed, where they own abusiness like a plumbing company
(18:16):
and they decide to buy a shed.
So that's a really greatstrategy to allow them to do
that.
For me, a self-managed superfund is all fine, as long as we
do build out that extra fund ofmoney in those other areas.
The main reason for that is youcan't take a brick out of a
(18:36):
property to pay something, andso liquidity is the biggest risk
that we see, particularly whenthey start to get ready for
retirement.
Where are they going to pullthose pension payments from?
Because you have to have aminimum drawdown every year if
the rent is not covering.
So my goal for most of myclients would be how debt-free
(18:59):
can we get you before then tostart?
Because that helps.
You've got the income coming inyes, yes.
But if there's still debt, thereis some real risk there and
that's why I always suggest thatearlier the better, because you
know.
But at the same time you need agood chunk of money in super to
start as well.
So it's sort of that 35 to45-year age group is sort of the
(19:21):
ultimate time that you wouldstart looking at that.
Speaker 1 (19:25):
Yeah, no, it's fascinating and you know again,
this is why it's about havingprofessionals in your corner and
making sure that obviouslyyou're engaging, you know, with
a financial strategist, but alsoyour accountant, and just
making sure that everybody is inagreeance with decisions that
ultimately, you know, impactyour future.
And I'm not afraid to say thatit's not going to work.
(19:45):
Yeah, I think that's what peopleneed, isn't it, ultimately, is
you know that's ultimately, whatthey're engaging you with is to
obviously carry that risk aswell.
There's been lots of changes inyour industry as well, with
legislation, I believe.
Speaker 2 (20:00):
Yep, lots of changes.
It's always a completelyevolving story and I'm very
thankful I have a really greatteam behind me who keeps me
abreast of anything that I needto physically be doing.
Yes, but you know, we arealways conscious of changes to
tax rates, we're conscious ofthings that might be coming up,
like with aged care and thingslike that.
(20:21):
So it's it's always learningnow, part of being a
professional.
We have to do that CPD.
We have to do 40 hours a year.
So that's really us delvinginto those changes.
Speaker 1 (20:31):
Yeah, it's wonderful, it's so important.
I mean, look, we have, you know, impending legislation changes
with the now industry, mybackgrounds in corporate
pharmaceuticals, which wasobviously, I would suggest, a
lot more regulated.
So it's very much how much mybrain works.
We did meet and hosted theseminar and really spoke to
people about that transition toaged care as well and you know,
(20:54):
I think that there's a lot ofmisconceptions in that space as
well, and you know around beingable to sell properties to move
into aged care, gifting to lovedones.
Can we chat about that a little?
Speaker 2 (21:06):
bit.
Well, we can.
I'm not actually a specialisedage care financial planner but I
have other people in mybusiness so I know enough to be
dangerous.
But the main things are is topick up where are they getting
the money from?
What is the best way for thatto be structured?
So should they pay all of it upfront?
(21:26):
Should they pay half of it upfront?
Is there some other things likeannuities that could help with
bringing some of those costingsdown and helping to fund?
So that's when I would pull inmy specialist and say here's my
client.
please help me and they wouldhelp me get that structured put
together and help my client.
Speaker 1 (21:46):
Yeah, cause it's an interesting thing.
I mean, I've had you knowobviously specialise in that
downsizing space and I'vecertainly heard you know clients
, or even you know peopleoutside of work that have sort
of spoke about that.
Oh look, we'll just sell aproperty and give everything to
our kids, and there's obviouslylots of ramifications.
Speaker 2 (22:02):
Yes, there's definitely ramifications.
Speaker 1 (22:04):
Has that always been the case or has it been
tightened over time?
Speaker 2 (22:07):
It depends where you're in, where you're at with
your wealth.
So once we are in theCentrelink world, there's just
so many rules that we have toabide by, the gifting rule being
the biggest one.
So you know Centrelink doesn'twant you giving away your money,
so you get more from Centrelink.
Speaker 1 (22:27):
That's the basic upshot of that.
Speaker 2 (22:29):
So you know there's a lot of restrictions around that
, and so it's really about whatare they trying to achieve?
Because I'm a big believer thatif we can get you a little bit
more Centrelink, great, butlet's not detriment our wealth,
for the sake of a few dollars,wonderful.
Speaker 1 (22:47):
And you're able to do that analysis of what's the
best way.
Speaker 2 (22:50):
So if you're going to lose some pension, say you get
an inheritance and it's going toreduce.
What are we doing with thatmoney to bridge that?
Speaker 1 (22:55):
gap.
Yeah, amazing, and I thinkthat's the thing.
That's probably where peopledon't have that education and
what we've learned, you knowvery much from that seminar is
people just don't know where toturn.
Obviously, you know they'vespent years, you know, working
and accumulating wealth, butthen obviously not knowing what
to do, or using more traditionalmethods as well, you know
(23:16):
whether it's just sitting in anormal bank account.
In a term deposit just rollingover.
Your worst nightmare?
Yeah, and I think again it'syou know, just genuinely people
not knowing where to turn andthat's why you know I love this
podcast series is just helpingpeople.
So if you could go back, Iguess even you know in your own
journey you've obviously beeneducated with wealth.
Are there things that you wouldhave changed with your you know
(23:38):
, financial strategy?
Speaker 2 (23:40):
I would have started earlier.
Yeah, so if I had known moreabout this industry earlier then
, I would have entered theindustry from school.
Yeah, it's amazing.
So back then you could becomean advisor very easily.
Obviously, there's been a lotof changes and tightening of
education standards, which Ithink is absolutely brilliant.
Speaker 1 (24:01):
Yeah, chat us through that.
So is that?
What qualifications did youneed to?
And I guess you know you spokeabout your ongoing education,
but in that initial stage.
Speaker 2 (24:09):
So literally, you could just get a few subjects of
a diploma and you know.
Then you could start practicing.
Speaker 1 (24:15):
Yes, terrifying.
Speaker 2 (24:17):
Terrifying.
And you know it wasn't until Ientered the banks as far as
planning in a bank that I reallystarted to learn my craft, and
you know I'd been a planneralready for a year or so and in
the industry for another bigchunk of time before that.
So it was terrifying.
And what we did see during GFCor prior to GFC was it was so
(24:42):
easy to make money that nobodyreally got caught out of being a
bad advisor until after.
Yeah, because it was so simple.
You could put your money inanything and you made money
after you couldn't.
Speaker 1 (24:56):
Yeah, and look, it's interesting.
You say that it's a little bitlike I mean, I've been in real
estate a long time but wedefinitely had a period of a
number of years there where itwas pretty simple to be able to
transact real estate just due tothe genuine demand and
obviously people's access to.
You know what was essentiallyalmost free money at that stage
as well, so I can relate to that.
You know coming off the tailend of that as well and
(25:20):
certainly seeing loss as well,you know, from inflated prices.
Any other misconceptions ormyths about your industry you'd
like to dispel?
Speaker 2 (25:29):
well, as I said before, you know, people just
think we're doing numbers.
We're talking about your superor your investments or shares.
You know it's a lot more biggerthan shares.
There's a lot of tools in ourtoolbox, as we talked about
before.
Um, it's really, you know, whenthey're just those, things are
just literally tools.
So super shares, investments,property ETFs, annuities, bonds,
(25:56):
they're all literally the tools.
They're not the actual job, thejob is what do you want from
life?
What are your goals?
How are we going to get youthere?
Speaker 1 (26:06):
in the most you know, my biggest thing is work
smarter, not harder, absolutelyso I was just saying to you I've
just finished a book called DieWith Zero and in that and don't
quote me a hundred percent onthe figures but he says that if
you die with $150,000, it's 2.7years of sitting at your desk on
average and it's just, it'sjust a figure that just keeps
(26:26):
sitting with me and it's areally interesting, you know,
component and I think it's, youknow, we do need to really have
a look and you've got a family,I do.
Speaker 2 (26:36):
I have a son who's almost 16, which is very
terrifying because that meanswe'll be getting learners very
soon and my husband I met himwhen we were in England.
Yeah, is he English?
He's English Great.
Yeah, my husband, I met himwhen we were in.
Speaker 1 (26:48):
England.
Yeah, is he English.
He's English Great.
Yeah, my husband is too so togive approval.
Speaker 2 (26:52):
Yeah, yeah.
Speaker 1 (26:53):
So I asked about your son because I'm curious about
your.
I guess, educating him aroundfinances, Is that something that
you've been passionate.
Speaker 2 (27:01):
Yeah, definitely yep.
So we use an app which has abank account attached to it that
allows you to set goals.
Yes, and he is learning becausehe's very, very tight with his
money.
Speaker 1 (27:13):
Yeah, there you go.
Let me tell you, yeah, amazing.
Speaker 2 (27:16):
If he can get mum and dad to pay for it, he will.
So he's a strategist.
Yeah, he's already a strategist.
But, yeah, I really encourageparents to look into looking at
those platforms where you canhave those goals you know, and
it can be as simple, like at themoment he's saving up to get a
gaming PC yeah, great.
So you know he's got the goldin there.
(27:36):
He puts money against the goldand you know when it gets there
he can move it to the card andhe can buy it.
Speaker 1 (27:42):
So you know we've been doing that for years,
that's incredible and I thinkthat you know there is a real
trend towards that gamificationof it.
I know that's very much myhusband and I that motivates us.
So you know, when we were doingsome debt consolidation, we
literally had, you know, not anapp but some pen and paper and
we would literally justhighlight off, you know each,
you know $100 or whatever theachievement was.
(28:04):
I'd never done that before andit was so much fun.
Speaker 2 (28:07):
It's very.
You just get really goodfeeling when you get to wipe
that off.
Speaker 1 (28:12):
Yeah that's exactly right.
And then tear the sheet up wasa big moment.
And again, you know I grew up.
It was, you know, basicallyjust my mum and I, so you know
there was never a surplus offunds or anything like that.
So to be in that scenario wasreally amazing.
Speaker 2 (28:26):
The to-do list is goals and objectives you know,
in our world, but it is assimple as your to-do list.
Speaker 1 (28:32):
Yeah, and your ideal client.
What do they look like?
Speaker 2 (28:35):
Oh look, I'm happy to look after anyone, but my
favourite is definitely that 50to 60.
And I do love my retirees.
Yes, oh my goodness and hearingall their adventures and things
like that.
I love it.
But you know, 50 to 60, we'restarting to see kids leaving the
nest or finishing school.
We always get an influx ofpeople who, like kids, have
(29:01):
finished private school and thenext thing they've got like
$15,000 a year.
That is now surplus.
So there's so much that can bedone in that age group and you
know, once you start saying,well, your super's currently
available to you at 60, if youretire then, then it starts to
become really close.
Yeah, that's right when you're55 and it's only five years away
(29:22):
.
You can really start dreamingabout that.
Speaker 1 (29:25):
And is that a surprise to a lot of people?
Yeah, it is.
Yeah, that's amazing.
Speaker 2 (29:32):
They're kind of thinking that they've still got
another.
You know whatever.
Speaker 1 (29:33):
Got to work till 67, because that's when age pension
starts.
Yes, and for my generation, Imean, you know I'm, you know,
astute enough to know that theremay not be one.
And also, like I said, you knowI've always had an interest in
super and you know I'm a bit ofa nerd for that as well.
I check it, you know, sometimesevery day.
During COVID it was justgrowing at such a great rate but
(29:53):
probably needed to get more ofa live.
But yeah, it's been amazing tohave a look and kind of you know
, benchmark what you should haveExactly and you know, to be in
that sort of fortunate positionto have had that education from
a long time ago.
Speaker 2 (30:06):
What we're really starting to see now.
Traditionally we would see theman would have the most and the
woman would have very littleokay, because of that whole
childbearing area part, and thenit wasn't really seen that
women really needed to go backinto the workforce.
So they're sort of now in theretirement.
(30:27):
So they're there.
We're now starting to see thesebeautiful super funds starting
to come through, because thecompulsory has been there for a
lot longer.
Yes, so the good news is forany of us who are, you know, had
super from when we started ourworking careers because of that
compulsory super we were alreadyway ahead.
Speaker 1 (30:47):
Yeah, and it's been growing each year yeah, that's
it.
Percentage, yeah, yeah, no, Ithink that's been a really
remarkable change to see, andyou know, I think of my parents
generation, when it wasn'tcompulsory as well.
Speaker 2 (30:57):
Um, so you know, that's definitely something it's
your second largest assetbehind your home, so you know,
by the time you get toretirement generally.
So we, you need to look afterit and you need to own it.
Yes, it's yours, it's realmoney.
It's invested in, you know,whichever way you've got it
invested, do you know that?
Do you know what it's doing?
(31:18):
Is your beneficiary set up?
What happens if you?
Speaker 1 (31:21):
die.
I was going to ask about thatbecause that's probably you know
something that I hear so oftenthat people haven't got
beneficiaries set up yeah, outof date.
What happens if that's the case?
Speaker 2 (31:34):
So basically it's the discretion of the fund.
So they will normally golooking.
Someone will normally golooking for the money yes, most
people do but then they'll haveto go through the whole process
of you know if there's a will orwhatever.
Now, if there is no will, thenit gets really complicated and
expensive for the family becausethen they have to do that all
this extra.
The solicitors have to do somuch extra work.
Speaker 1 (31:56):
Yeah, and just with regards to the beneficiaries,
are we able to speak about taximplications?
Speaker 2 (32:03):
for that?
Yeah, so inside of a super fundthere is a taxable and a
tax-free component, and that'ssomething that most people don't
look at or are aware of.
It's something that it's reallybecome a bit of a pet project
for me and my clients.
So if you pass away and yoursuper goes to your partner or a
(32:27):
child who is financiallydependent on you, then the tax
there is no tax, so we don'thave to worry.
But if you're single or youknow widowed or you choose to
give that money to your childrenand they're grown and they're
making their own money, thenthat taxable component is going
to be taxed to them when theyreceive those funds.
(32:47):
Now if a binding nomination ora nomination is on the super, it
doesn't go through your willunless you ask it to.
So it's something that once weget our clients into retirement
phase and we open therestriction up, we can do some
really great strategies aroundstripping out some of that
taxable component and putting itback in as tax free.
So that's becomes reallyimportant, particularly around
(33:10):
that single with adult childrenor even not having any children
and wanting to leave that moneyto maybe nieces or nephews or
charity, then that's all goingto be really important.
Speaker 1 (33:21):
Amazing.
I remember when I heard youdiscussing that.
I mean I had no idea of all ofthese things that are possible
and, like I said, I thinkthere's just a lack of education
.
Do you think that there'sadequate education around?
You know financial componentswith schooling, definitely not,
I would adore it.
Speaker 2 (33:39):
I would love to get into a school and teach us, you
know, a term of just financialliteracy.
You know they do talk a littlebit around.
You know loans and credit cardsand things like that, but they
don't.
As far as I'm listening to myson, it doesn't sound like
they're still not doing mucharound that super and really
getting people to understandwealth creation and things like
(34:03):
that.
And you know, trying to createthose income streams where you
don't physically have to work.
You know, so there is so manydifferent ways that you can do
things.
Speaker 1 (34:13):
Yeah, I'm just always perplexed with the amount of
life skills and things like thatthat aren't taught.
Is there places that people canfind that information, the
Money, smart?
Speaker 2 (34:25):
website, the government one, is actually
really helpful Okay excellent.
There's some great calculatorson there, particularly around
you know, like debt reductionand things like that how to pay
off your home loan sooner.
It also, you know, there issome calculations for our
retirement and things like thatin there as well, and there's
lots of educational pieces inthere.
Speaker 1 (34:43):
Excellent, so it's good to know that it's there.
It's just perhaps people's, youknow, not knowing that they can
access that as well.
Yeah, it is an easy readingwebsite.
Well, I would imagine mostpeople need that because it is a
complex world, isn't it?
It sure is, that's for sure,wonderful.
So we've got an idea of, Iguess, your ideal client.
What does a day in the lifelook like?
Speaker 2 (35:06):
Well, I have one child, so that makes things a
little bit simpler.
So, after we get him to school,and then it really looks at
what's my day for today.
So, have I got clients?
Have I got staff meetings andthings like that so really
office-based in that respect.
So get behind my computer andthen the day starts.
(35:26):
So, you know, in a normal day Imight have a review and a new
client appointment, so it willbe sitting down with those
people.
So, new clients who are they?
What's going on with them?
What do they need to achieve?
For my review clients iseverything okay.
Have you got enough money Isokay.
What are you doing for the nextyear?
Do we need to factor in thatyou're going on a cruise or
(35:49):
something like that?
And then the rest of the day isthat note-taking strategy, work
, um, delving into the, the backend of it and, you know, making
sure that everybody's goteverything happening the way
they should.
Speaker 1 (36:02):
yeah, that's awesome.
Look, that was something I hadno idea.
I hadn't really thought of that.
I guess I assumed you sat downand maybe you put it into a
computer and it kind of spat outa plan.
So I'm sorry that I had that.
Yeah, we do have projectionpieces, of course, but we still
have to have that human overlay.
Speaker 2 (36:19):
Yes, we are definitely moving towards more
of an ai environment and thereis going to be tools that do do
that type of thing, but it isdefinitely still in my mind, and
I think still in the broaderindustry, that nothing beats a
human.
Speaker 1 (36:37):
yeah, it sounds like it especially to be able to
navigate such a complex Oneperson can have.
Speaker 2 (36:45):
This is the perfect way to create your wealth.
Speaker 1 (36:48):
Yes.
Speaker 2 (36:49):
And this is the one that gives you a better
lifestyle.
This one helps you sleep atnight.
Speaker 1 (36:53):
Yes.
Speaker 2 (36:54):
So a computer doesn't know that you're scared of that
one.
Correct, that's exactly right.
It just knows, that's the best.
Speaker 1 (36:59):
Yeah, that's exactly right, it's really interesting.
And then, yeah, without taking,and I guess geographically and
everything as well, you know,property investing here versus,
you know, overseas, orresidential versus commercial is
obviously, you know, higherrisks involved.
Yep, that's right.
Yeah, amazing, wow.
Well, we have covered off somuch.
If you weren't, I can't evenimagine that you wouldn't be
(37:20):
doing anything than what you arebecause you're so passionate.
But if you weren't, what wouldyou like to do?
Speaker 2 (37:25):
Oh look, I do have a dirty little secret.
I love those.
I do love pimple popping videos.
I probably would have been adermatologist, I reckon, if I'd
thought about it sooner.
Speaker 1 (37:37):
That's fantastic.
You're either into it or you'renot right, so don't judge me,
you're either the popper or theone that's being popped as well.
No, I love that Good thatthere's a job for it.
Right, you mentioned about yourfamily, but I'd love to know
what's been the best day of yourlife.
Speaker 2 (37:58):
Well, I mean, as most mothers would say, the day that
they give birth.
I mean my birth story wasn'tvery pleasant, so I guess maybe
the day after that's a commontheme on the podcast.
Speaker 1 (38:11):
Yeah, yeah.
Speaker 2 (38:12):
Look, you know, it's all those big time things.
I think getting on the plane toLondon was very.
It was, you know, liberating toafter living in.
You know, liberating to afterliving in.
You know Sunshine Coast backthen was very sleepy.
Speaker 1 (38:27):
Yeah, because you were a born and bred local as
well.
Yeah, born and bred local.
Speaker 2 (38:29):
Not many of us here, not many left, so getting on
that plane and becoming the dieI wanted to become was really
liberating.
Speaker 1 (38:38):
That's amazing.
So brave because it is.
It's a huge undertaking, isn'tit?
Yeah, yeah, and family weresupportive of the move, 100%, oh
, that's amazing.
Speaker 2 (38:46):
So I mean now I think back and think, oh my God, they
let their daughter get on aplane to London by herself.
Speaker 1 (38:52):
Yeah, no phone or internet.
Well, I'm making thatpresumption.
Well, I had to catch a bus tothe next town to go to an
internet cafe.
Speaker 2 (39:00):
Yes, so it was.
Yeah, it was definitely likethat.
But yeah, obviously, meeting myhusband, getting married,
having Chase was, you know,they're all just massive
highlights.
Speaker 1 (39:10):
That's amazing, and he enjoys Australia, your
husband.
Speaker 2 (39:12):
Yeah, yeah, of course he's not going back.
Speaker 1 (39:14):
Yeah, a lot of people go this way, don't they?
They don't go the other way.
So you obviously spent time inLondon, but where would be your
ideal holiday destination?
Speaker 2 (39:24):
So funny story was that I went to London and part
of my ticket was a return tripto Rome and it was coming up to
it expiring and I said to myboyfriend at the time I need to
do this trip to Rome and we weredoing some other stuff and he
says I'll take you another time.
We never went, so I put my footdown and so my long service
(39:50):
leave is now for when I'm 55, Iwill be going to Italy and I've
said I'm going to spend thewhole three months of that visa
in Italy living it up and he cancome if he wants.
Amazing.
But if he doesn't want, to thenI'll go by myself, You're happy.
Speaker 1 (40:05):
So it's always stuck there as something to do?
Yeah, it's got to be something.
I need to live it.
Yes, that's amazing.
So is it?
Eat, pray Love?
Did she go to Italy?
Speaker 2 (40:13):
Yes, that definitely didn't help the situation, but
we're big travellers so we tryand travel as much as we can.
Speaker 1 (40:21):
It's so important and Chase enjoys travelling.
Oh my goodness, yeah, yeah.
Speaker 2 (40:24):
His first plane trip he was seven months old, Amazing
To Thailand.
He popped five teeth on thatholiday and anyway, Thailand has
really good pain relief For mumas well.
So he's used to planes.
Speaker 1 (40:40):
Yeah, awesome.
Speaker 2 (40:40):
He's used to airports .
He walks through an airportlike he owns it.
Yeah, he could probably get mewherever I wanted now because
he's just so confident.
Speaker 1 (40:48):
That's amazing.
Oh, you must be so proud.
Yeah, I am.
He's a lovely boy.
What's his?
Speaker 2 (40:52):
plans post-school.
So he is avid soccer player, orfootball as he would say.
Speaker 1 (40:58):
Yes.
Speaker 2 (40:58):
And so his big goal?
He's going to work towardsgoing into a trade, yes, but he
wants to go spend some time inthe UK Amazing and play football
over there Awesome and hang outwith his cousins.
So that's his goal for the next, probably, year.
So he's nearly 16.
So, yeah, that'll probably bethe next sort of five to six
(41:18):
years of his life, so you mightbe sending him off to London as
well.
Yeah, no, I'm heartbrokenalready at the thought of it.
Oh bless.
Speaker 1 (41:26):
What is your favourite food and drink to
enjoy?
Speaker 2 (41:29):
So my favourite food is a bit strange.
I'm just addicted to duck liverpate.
Speaker 1 (41:35):
It's really bad for my stomach and I shouldn't eat
it.
Speaker 2 (41:38):
Yeah, but if it's on the menu, I'm going to order it.
Speaker 1 (41:41):
That's amazing, I don't know.
Speaker 2 (41:42):
I don't know that's come from London.
Speaker 1 (41:43):
Yeah, I've never really, to be honest, I've never
tried it.
Yeah.
Speaker 2 (41:47):
Yeah, I didn't eat it before I went there and
whereabouts is your favouriteduck liver pate?
So it's a big.
It's either Boat Shed, yes, andUba Deco at Yandina, Okay.
Speaker 1 (42:02):
They're the two favourites.
You know where your duck liverpate is?
Yeah, I do.
Speaker 2 (42:06):
And to go alongside it to drink.
So I'm a pinot grigio girl, yes, and that's pretty much my
staple.
Now.
It's, yeah, gone past and don'treally do the spirits or
anything like that, but yeah, agood crisp Italian Pinot Grigio.
Speaker 1 (42:23):
There you go, Girl knows her wine Di.
It's been a pleasure to haveyou.
I always love to ask the guestsas we finish up what your
favourite quote or saying isDon't sweat the small stuff.
Hey, that's a good one, isn'tit?
Yeah, so so true.
Life is so precious, isn't it?
Well, Ms Tyscott, that wasabsolutely beautiful to have you
.
I could have delved so muchdeeper, so I'm no doubt we'll
(42:46):
have to have you back to havemore finance chats, but it's
been an absolute pleasure tohave you here.
Thank you for all of yourknowledge, your openness to
share and how you're incrediblychanging your client's life.
Speaker 2 (42:59):
Thank you, amy, I appreciate it.
Speaker 1 (43:02):
Thank you for listening to this episode of
Beyond the Signboard.
We trust you enjoyed it as muchas we enjoyed making it for you
.
If there are any topics youwant covered in the future, make
sure you reach out and let usknow.
Also, feedback and suggestionsare appreciated almost as much
as likes, shares and downloads.
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