November 16, 2025 • 41 mins
Most of us have spent the past few days daydreaming about what we would spend $55 million on.
Pay off the mortgage, book a holiday, send some off to charity, throw the rest in a term deposit.
Three lucky punters each one a share of the jackpot last night - $18.3 million each.
Not many of us will have the chance to come across tens of millions in our lives, but most of us will at some point get a large some from inheritance or a bonus or the likes.
So what's the smart thing to do when you get a big windfall, before the excitement takes over?
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks EDB.
Speaker 2 (00:34):
Yes, and welcome back. This is the Weekend Collective or
welcome in. Should I say if you've just joined us
and if you we love your calls. I'm Tim Beverage.
We love your calls. I know eight hundred and eighty
ten eighty text nine to nine two and yeah, this
hour it is smart money and we're going to talk
about windfalls. Now, what prompted this was just well, you
(00:56):
know that lotto got to a ridiculous amount of fifty
five million dollars, and of course, you know, everyone would
have been hoping that maybe, you know, maybe maybe maybe
it went to a you know, would be spread amongst
a few people, and that you'd be one of them.
Of course, if you were one of them, you'd be
happy if it wasn't split at all, and you just
want the whole fifty five million to yourself. But that's
(01:18):
not the only way that you can end up with
a windfall. People will receive inheritances all the time. Unexpected
amounts of money come in. I wouldn't want to say
you've been lucky on the horses. That's probably feel like
I'm really encouraging gambling. But then again, if lotto wasn't gambling,
then what is it? So you know, what, what what
should you do? If you end up encountering and receiving
(01:41):
a large amount of money that's beyond what your expectations?
What do you what should you do with it? Do
you pay up the mortgage? Do you book a do
you book a holiday? Or do you do as some
of the conversation before the show, before the sorry, before
the draw was the do nothing thing, just stick in
the bank and wait for a year for a whole
bunch of reasons. But as we know, three lucky punters
(02:03):
on the lotto thing they won eighteen point three million
dollars each. Anyway, but what is the smart thing? Because
that's not the only reason Kiwi's come into money. It
might be a wealthy aunt you didn't know existed, might
be someone who you did know existed, just been waiting
for that inheritance to tick over in a cold callous way.
(02:24):
But either way, you've got the money come in, what
do you do with it? We want your thoughts, questions, opinions.
You can actually if you want, we talked. You know,
we're discussing a broad range of topics here. What's it
a bit obscene? That had got to fifty five million dollars?
Do you want to think about obscene? I think there's
a lot of in states, which is up to about
nine hundred and seventy nine million. It's close to a
(02:45):
billion dollars. So yeah, but what have you done with
a wind for? What would you do? Because you know what,
that's probably what we really purchased from me buy that
lotto ticket, We buy a few minutes of dreaming of
what life would be like before the inevitable disappointment except
for those three unpleasant people who won eighteen anyway to
(03:06):
discuss that, he is the managing director at Kura Wealth.
That's ko you are a and his name is Rupert
Carlyon and he's with me now, Rupert, how are you going?
Speaker 3 (03:17):
I'm very good, fortunately not as good as I would
be if i'd been a winner last night.
Speaker 2 (03:20):
But would you be able to keep it secret if
you had won that money? Would you have well, Tyra,
I'll be saying, oh, Rupert's pulled the pin on today's show?
Or would you be able to keep it to yourself?
Because I would have thought that's a big priority.
Speaker 4 (03:37):
I like to think that I would.
Speaker 3 (03:39):
Yeah, I mean, like all New Zealander's I had, I
had lots of dreams yesterday and you bought the ticket.
Speaker 4 (03:45):
Of course, I didn't even know you gambled.
Speaker 3 (03:48):
It's gambling, and it's kind of the most The worst
financial decision you can ever make is buying a lot
of ticket.
Speaker 2 (03:53):
Yeah, but it's just too hard to resist, probably because
it had to go. So it might not have been
in the one and thirty eight million per line. It
might have been in the one and.
Speaker 3 (04:02):
Yeah, but it's this dreams not selling fifty five million dollars.
And that's why the ad campaign they're running is so powerful.
They're selling this dream of you're changing your life and
all it takes is for me to go on spend
my sixteen dollars and I'm going to be given a
brand new life that's completely different from anything that I
currently have. And even though I sit there and I
(04:24):
kind of I do the maths. It's one thirty eight
million dollars per line. What is it three dollars a
line or four dollars a line.
Speaker 4 (04:30):
That's the worst decision very.
Speaker 2 (04:32):
Well, very much. That ten lines with the Powerball is
fifteen dollars fifty Yeah, there we go.
Speaker 4 (04:42):
Let me do the numbers for you do you do
the detail.
Speaker 3 (04:45):
But it's a terrible financial decision because it's kind of it.
Speaker 4 (04:49):
It's black and white.
Speaker 3 (04:51):
The odds that it's binary and the odds of losing
it are so so high. I mean, the most appressing
part about it right now is actually the Lottery Commission
is lobbying the government to allow them to add another number.
Actually I don't understand that, because it's simple. It's the
probability that goes down, so rather than currently being one
(05:13):
and thirty eight million, it.
Speaker 4 (05:14):
Goes a whole lot higher.
Speaker 3 (05:16):
They do that because last night, I think I read
they sold kind of one and a half million tickets
last night. When it gets to these massive numbers, they
sell a hell of a lot more tickets home.
Speaker 2 (05:26):
On what I would, I've got less chance of winning.
I'm a lot of rational visation. Actually, it's already already
unlikely to want a ticket.
Speaker 3 (05:35):
But so that that all of the research and all
the evidence shows that actually when the jackpot gets huge,
people just go and buy them.
Speaker 2 (05:43):
But they've kept the jackpot at fifty million. It only
got fifty five because they'd spent so much the week before.
Speaker 3 (05:48):
But that will be but kind of moving forward, what
they can do is rather than so actually that makes
sense kind of a dollar they want bigger gym party
eight it's one in thirty eight million chants. That means
that actually they have to cap it at fifty because
otherwise someone can go out and buy every single line
and be guaranteed to win.
Speaker 4 (06:05):
Whereas, yes, so if.
Speaker 2 (06:06):
You've got well, then again it doesn't guarantee you might
not split the price.
Speaker 4 (06:10):
You will problem exactly.
Speaker 2 (06:11):
That's the thing. And I think they have mechanisms for
stopping people buying one to thirty eight million tickets.
Speaker 3 (06:18):
Maybe it's happened a bit in the US where they're
kind of people are gaming some of those lotteries, some
of the smaller state lotteries.
Speaker 4 (06:24):
But the idea is that if you.
Speaker 3 (06:27):
Can create one hundred million dollar prize, they reckon that.
Rather than selling one and a half million dollar tickets
half million tickets, they might sell two and a.
Speaker 2 (06:35):
Half Well you know you've Actually that just feels wrong
to me totally. I don't know. But the thing is,
the odds are ridiculous anyway, So why am I complaining
about them being slightly.
Speaker 3 (06:46):
So if I coming from a financial markets person, right,
if I said, hey, they need to disclose in exactly
the same way that I need to have my disclosure.
Why shouldn't it be that every single time you buy
a ticket it says, did you know that there's only
a one in thirty eight million chance of every line
that you buy?
Speaker 2 (07:03):
Like a warning, like a warner, like a warning. Honestly
exactly that.
Speaker 3 (07:07):
In my view, that is exactly what they should be doing,
because what we do know is there's a lot of
people in poverty who will spend twenty dollars or however
much on a lotto ticket before they'll buy anything else.
I mean, I was just saving the analogy of or
not the analogy of the story. When I bought my
ticket yesterday, I saw that they kind of offered me
(07:28):
the option to cap my spending every week on lotto.
They're suggested number one hundred and twenty five dollars a week.
Speaker 4 (07:37):
Exactly.
Speaker 2 (07:38):
That's that's Grandy's Grandy, Yeah, yeah, six thousand bucks a year.
Speaker 4 (07:42):
That was kind of what the default setting was on
my cap.
Speaker 2 (07:45):
Actually probably look actually, and there is something about having
fun and if you if you can control your lotto
spend to something like but of course it's not just
once a week, it's twice a week. It's Wednesday and Saturdays.
So that could be if you are doing, say mostly
twice a week with ten lines in the power balls,
(08:06):
that's thirty dollars a week. That's fifteen hundred dollars a year.
I don't really want to know what the value of
that money would be over the years if you just
because that would be probably over the let's just take
ten years that somebody could easily spend ten grand. If
we're going to be conservative, over the course of ten years,
compound interest and key, we say that.
Speaker 4 (08:26):
Twenty to twenty five by the time you're done.
Speaker 2 (08:28):
BlimE me, what a.
Speaker 4 (08:30):
Much better investments.
Speaker 2 (08:31):
So Rupert has thrown a few cats into the pigeons there.
It's because he's talked about what lot I would like
to do is extend the odds, so they have you know,
the jackpots are less likely he'd be one. So they
get to a stage where they're going to have more
frequent sort of fifty million things and one hundred and
twenty five bucks a week. You can add your comments
on that if you like. But also what is it
(08:53):
you buy a lotto ticket for? Because there was one
positive side effect for me at one stage, which I'm
happy we'll kick in again. I when I was buying
Loto tickets and I still buy them, probably more frequently
than I should, but I would stop and think about, gosh,
this is what life would look like. Yeah, and I
(09:14):
did think, well, what are some ways I could try
and make that money myself, not that money, but make
more money. And so it actually made it helped with
me being aspirational on a couple of things, with some
of the concert size producing, and I thought, you know what,
I've got something. I know what I'm doing there. Maybe
I should just simply instead of focusing on the stupid lotto,
(09:35):
focus on making more money by being adventurous and creative.
And that was I think a positive thing that could
come out of it. You know, you dream about one thing,
then think about or is that quite rare?
Speaker 4 (09:49):
I reckon, that's pretty rare, But I like that as
an idea. I mean, I think, yeah, to be blunt.
Speaker 3 (09:57):
I struggle to see too much positive out of it,
apart from the lotteries grants that get given.
Speaker 4 (10:01):
On the other side, I think.
Speaker 2 (10:04):
There's a lot of a plague on our country.
Speaker 3 (10:07):
For certain demographics. Yes, for certain demographics. I think that
lotto is effectively a dream as tax.
Speaker 2 (10:16):
A dreamers tax. Yeah, yeah, and actually not a small
tax either. No, what do you reckon eight hundred eighty
ten eighty. I know we've got the other Anglo throughout there,
which is about windfalls. But if you also, if you've
been in receipt on a side of lotto, if you've
been in receipt of a windfall, how have you coped
with it? If you weren't expecting it, or maybe you
(10:36):
were expecting something there was a lot more than your thought.
Give us a call on eight one hundred and eighty
ten eighty in text on nine two nine two. Actually,
if you must have advised a few people and who've
come in to win, what's what's the quirkiest obviously know names,
what's the quirkiest or the thing that pops into your
mind when you think about people who've had windfalls you've advised.
Speaker 4 (10:58):
The big one.
Speaker 3 (10:59):
I mean it's not quirky, but it's I mean one
of both the nicest but also the most harmful that
I saw was someone that was just so desperate to
help their children, and so actually just gave them money
straight down to their children, and they blew it exactly.
The children didn't do a great job with it, and
it also meant that the parents were left still with
(11:21):
their massive mortgage and couldn't afford to do retirement. So
that's I mean, I haven't seen too many at the
begin but that's kind of one of the nice ones.
I mean, it's always a really nice conversation when you
can sit down with a client or with someone and go, well, actually,
you've just received this money, what are your dreams? Because
that's a real conversation where you can go, well, what
(11:44):
keeps you awake at night? What do you actually want
to achieve over the next kind of ten, twenty, thirty,
forty years. What do we do and let's start thinking
about how we can use your money to help you
do that, right. So, and it can be as simple
as let's just pay down the mortgage so you don't
stress about that anymore. It can be hey, let's put
(12:04):
it in the market, let's go for a little bit
of a let's put invest it. Let's aim to do
a five to ten percent turn on that money, and
it's actually really nice. And then that's always my favorite
because well that's what I do. But more importantly, you
get that phone call sex telve months later and they go, ah,
that's awesome. This is actually working particularly at the moment
we market, because there are.
Speaker 2 (12:24):
A few things you can interally do. Just as you say,
your pay off the mortgage, because why wouldn't you.
Speaker 3 (12:29):
Not necessarily right, I mean today, setting at a four
four and a half percent mortgage rate markets over the
last kind of ten to fifteen years of delivered ten
to twelve percent per annum, you would have been better
to stay invested. It's not quite as slam dunk as
should you always pay down that mortgage. That The other
piece around keeping a mortgage is particularly if you've got
(12:51):
a good income. Yeah, you know you're going to pay
that off anywhere, right, So the mortgage can be seen
as a little bit of a forced savings.
Speaker 2 (12:58):
And this is we're not talking a lot of here,
We're just talking about you.
Speaker 4 (13:02):
You might have inherited half million bucks or something like that.
Speaker 2 (13:04):
You might be off investing that half a million and
leaving the mortgage. What you're going to get out of
that investment the mortgage, Yeah, Okay, we want your cause
on this. I'm dealing with a windfall and also just
the thoughts about Lotto and what the plans might be
to make the Lord odds even harder with you know,
more more big sort of windfalls but ridiculous sides. Is
(13:26):
lotto a plague on our society when you think of
the amount of money that gets spent on it easy
to argue it is. I'm not going to really push
back on ripon on that one because I think it
probably is as much as I like to indulge as
well because alcohol is also a plague on the country.
But I do like a g and t of an
evening anyway, taking your cause eight hundred and eighty ten eighty,
(13:48):
let's just kick it off right now with Bruce Good.
Speaker 5 (13:51):
Yeah, Hello, We're just we're talking about.
Speaker 2 (13:54):
The inheritances wind fall.
Speaker 5 (13:58):
Oh yeah, inheritance to your big your pardon. I was
in a situation where my mother, you know, pasted, well,
my mom and dad were. My dad went to war
and they were of that generation where they they bought
a house on the north shore that looked at Ragnitoto
and they just stayed there for forty years. Et cetera.
My mom recently passed away, and my sister and I,
(14:22):
who were the sole beneficiaries, came into a significant inheritance.
You know, we're you know, sort of about three four
million each, and a couple of things. The thing firstly
coming having worked overseas for many, many years, the first
thing that struck me is there's no inheritance tax in
this country, which which meant my sister and I had
(14:44):
not done a Erica work but got two and a
half million dollars tax free into our bank accounts. And
I gain well, that's that's the law of it, that's
the inheritance.
Speaker 2 (14:57):
Were you offended by that, Bruce?
Speaker 5 (14:59):
No, I know I wasn't offended by that. But it's
just partner past of the the whole, the whole lax
tax system that we've got capital gains tax well tacked anyhow.
That's another story. But what I'm what I was talking,
what I want to talk about is I had all
this money in my account and I sat down, I said,
(15:22):
what am I going to do with it? I'm going
to put it here. I can get this suck and
get the interest on this, and I can get the
interest on this, and I can buy shares on this.
But everywhere I look there was a tax implication, and
I thought, do I really want to constantly have that?
Do I want to give it to someone to manage.
My son is a partner of Price Waterhouse, and I
(15:44):
spoke to him and he drew up a deed of gift,
which is a legally binding document, and I was able
to give them enough. I was able to give them
enough money so they could buy my two children that
are on the Gold Coast. We're able to significant amount,
you know, six seven hundred towards a deposit which got
(16:05):
them in and my son who was set up. But
I looked at that and I thought, you know, at
my age and what my gearing capacity is and my
text implications, your advisor will understand this. I thought, I'm
much better to give that to my children as an
early inheritance of my inheritance, pass it on to them
(16:28):
now because they need it now. I got my inheritance
from my mum when I don't need it.
Speaker 3 (16:34):
You know, I think that's a common that's a common thing,
and I think that's a very we're kind of particularly
with the aging population, where people are receiving inheritance at
the age of sixty or seventy. And the key thing though,
is making sure to what I said, sitting down and going, well, actually,
what are my requirements, because and I think that's what
we'd see. You've got to be a little bit selfish
(16:55):
to start with and going what do I need first,
and what's going to be kind of help me make
sure that I can live to one hundred comfortably before that?
I mean tax implications. Look, I wouldn't worry too much
about that taxes tax. I mean you just take the
win that you didn't pay an inheritance tax. Were you
lucky to live in New Zealand with one of the
(17:15):
only countries in the world where we don't have that?
Speaker 5 (17:19):
Yes, well I yeah. I My reasoning was those my
children would be able to with the capital gains and
the properties they would buy, they'd be able to gear
up that money and they'd make more out of that
money than I could. Plus they wouldn't have tax, whereas
if I was to hang on to it, I would
have to pay tax, whereas if they put it into
(17:39):
real estate they get a tax positive in some way
where you know, how were you.
Speaker 2 (17:46):
Going to how are you not going to pay tax
if you invested it.
Speaker 5 (17:50):
Well, I didn't really want to invest it because it
was just it was you pay tax on.
Speaker 4 (17:55):
The interest interest. But if you and shares, you would
have avoided the tax.
Speaker 5 (18:01):
Yeah what what I found? What?
Speaker 4 (18:04):
You know?
Speaker 5 (18:04):
I want a simple life now, and that's that's what
because work all my life and I just didn't want
to have to have that constant worry.
Speaker 6 (18:13):
You know, it's not you just want.
Speaker 2 (18:15):
To divest yourself with the stress of having all that.
Speaker 5 (18:17):
Yeah, these stress from money.
Speaker 2 (18:20):
Yeah, fair enough, Bruce. That's I mean, each each to
their own. You've just got to I think if I
wouldn't want to pass it straight on to anyone, because
I trust myself more to control them, that that asset
better than I would if I'd just gap to my kids,
he'd go and blow it.
Speaker 3 (18:37):
I think houses and housing is a good one to
put them and helping them into their first home. It's
and that's it's a nice one. I think I do
find it quite interesting. Look where you've basically hit the
nail on the head of saying, hey, the text situation
is far better to put it into property than to
do anything else, and that's a massive problem for our economy.
Speaker 2 (18:59):
Okay, let's take Actually, we can't take some more calls
right now because we're going to take a moment. We're
going to be back in a moment with your calls.
One hundred and eighty TN eight text nine to nine two.
It's twenty five and a half past five new stalks.
Heid B News Talk said B we're talking about windfalls
and lotto and taking your calls with Rupert Carlyon from
Corara Wealth. It's Ko. You are A and Tim. Hello
(19:22):
you guys, So I good, thanks.
Speaker 6 (19:25):
Well, I guess in a good wye. I don't need
any financial advice today because I didn't win anything on Lotte.
Speaker 2 (19:32):
Oh it's I thought I was going to say, you
don't need financial advice because you've already got lots of
pots of cash.
Speaker 6 (19:39):
No God knows, but that's all right as well. You know,
every time any of us buy lot A, we're contributing
to charity. That's a good thing. And if we were
one of the lucky people or one of the people
who win huge amounts of money, every time, you've got
(20:05):
that option as well to spread it around, you know,
as well as taking care of yourself and your own family.
Speaker 4 (20:14):
I agree, it's a nice way to think.
Speaker 3 (20:18):
So, coming back to that piece of maths, around one
thousand dollars a year or fifteen hundred dollars a year,
do you think that money might be better put to
causes that are very close to you.
Speaker 6 (20:31):
Yeah, there's an option to do that. I personally would
rather take the punt on, you know, getting the win
and then you could give them more. And I'm happy that,
you know, I buy six dollars, builded it, so I'm
not hugely invested in it. But like we know, you
(20:53):
only need one line. But what I can say is
when I walk past, you know, you get ambushed coming
out through a supermarket lobby and this group or that
group will literally be ample, I can look at them
in the eyes and say, hey, thanks, appreciate what you're doing.
But I already donate your charities and I don't have
(21:14):
to feel guilty about that. If it's something particularly that
I might be interested in the Heart Foundation, you know,
if I've got some money on me, they're welcome to it.
I also don't have a problem with Lotto h payouts
going sky high, because you know, it is a dream.
Speaker 2 (21:34):
Yeah, Rather it was less frequent, but there was more
chance that every six months or so they'd be a
hundred million going.
Speaker 6 (21:44):
Yeah, for sure, it doesn't bother me. I mean, you've
got to I'm not expecting. I'm not expecting to ever win.
I'd like to, but it'd be nice. But I think
there was like quite a fear few people last night
that ended up like fifty on grand, didn't they something
like that?
Speaker 2 (22:04):
Actually, to be honest, I didn't follow it closely enough.
I just know there were three winners of eighteen point
three million now, and yeah, they're good on your favorite,
thanks Tim. I mean that's I mean the weird winners
who won smaller amounts of cash as well.
Speaker 3 (22:17):
Ah, then winning fifty one hundred grand that can be
life changing for a lot of people too. So yeah,
he is right that we focus on the big number
in that one thirty eight million chant, but there is
there are a lot of people that fifty hundred and
fifty thousand dollars that's also life changing for a lot
of people.
Speaker 2 (22:32):
I'm gonna have I'm going to actually check that the
what the other amounts were, because I once got five
numbers out of six and got five hundred bucks. So
you know that's not the matter.
Speaker 4 (22:43):
Maybe I got four last night and I got thirty.
Speaker 2 (22:46):
Yeah, I mean yeah, I thought five would be worth that. Actually,
be honest, I didn't think to be worth a lot,
but I did think maybe fifteen hundred.
Speaker 6 (22:54):
Yeah.
Speaker 2 (22:55):
It is interesting that your motions when you see the
numbers tick over, because I don't normally ever follow it,
but I just went and it was like yes, yes,
and it got to four and I was like, oh
my god, that's four in a row. And then got
five in a row and my head started to go
and then not. So that was I mean, the you know,
but it was an interesting journey. What's the time. Here's
(23:16):
twenty seven and a half minutes to six. Brian.
Speaker 7 (23:19):
Hello, Yes, hello, listening to your show. Really interesting.
Speaker 2 (23:28):
Good.
Speaker 7 (23:29):
In terms of lotto, I buy a lotto ticket each weekend.
Basically I regard it as a charitable donation because I
don't have any expectation of winning money. If I did
win some money, that would be nice. If I had
a big win, what I would do because I have
(23:51):
because I carry no debt, I would set up trusts
for the grandchildren and direct the money to their education
because I'm investing in another generation.
Speaker 3 (24:11):
And can I ask something slightly controversial. Why why would
you go straight to the grandchildren and not give it
to your kids and trust them to do that for
their children.
Speaker 7 (24:25):
Sorry, I don't mean I would do it directly. There
would be consultation with with their parents, of course, but
we would we would.
Speaker 5 (24:34):
Work to.
Speaker 7 (24:38):
Provide for the two generations that succeed me, because you know,
I really, really, really firmly believe that investing particularly in
education for the succeeding generations makes them better people, gives
(25:01):
you satisfaction, and quite frankly, it makes the world a
better place because you have people who are better educated,
they can make better decisions, particularly if they are in
decision making positions.
Speaker 2 (25:18):
Yeah, not fair enough, Brian. Actually I did say that.
I'm thinking the problem would be I hate my kids
not to strive for life. And I think that's because
we've discussed this before and talk back sort of thing.
But does money buy your happiness? And no. And there
was something interesting that popped up, I think, on the
(25:40):
news last night before the draw, and they had different
people commenting, but there was that there was someone who
was talking about the do nothing thing, and one of
his points was that when people know you have money,
your relationship with those people with many of those people
will change, and I think the implications is not necessarily
(26:01):
for the better, because they will their expectations around you. Seriously,
you've got twenty million bucks where you had nothing before,
and people around you are similarly and a financially in
pecunious situation. Maybe I think it would just destroy friendships
if you.
Speaker 6 (26:18):
Would.
Speaker 2 (26:19):
That's which leads me the thing whatever, you have to
keep it to yourself, including not letting your kids know,
because all of a sudden, I don't know, maybe that
ambition they had to go off and become a brain
surgeon or whatever suddenly evaporates because hey, I can just
have a good time instagramming from Greece.
Speaker 4 (26:37):
The family is always the hardest. I we'd a.
Speaker 3 (26:40):
Person that I used to work with in Sydney who
he was actually the hear to one of the big
Australian kind of billionaire families, and his far exactly to
avoid that. What his father said to him was, no,
you're not getting a cent from me.
Speaker 4 (26:55):
You go work.
Speaker 3 (26:56):
You work very hard on an investment bank, and he
used to work kind of one hundred hundred and twenty
hour weeks.
Speaker 4 (27:01):
But if you can survive that for ten years. I'll
give you whatever job you want.
Speaker 2 (27:05):
Wow. Actually, and there are well publicized cases of people
have been very wealthy of it who've given most of
the way and said that their kids don't. Don't you
hang around going for this? Oh that's so.
Speaker 4 (27:17):
But Bill Gates is kind of leaving, I mean, to
be fair.
Speaker 2 (27:20):
Probably by my house.
Speaker 3 (27:21):
Well it's it's still going to be a couple hundred
billion millions, but it's not it's not the billions that
creates the multi generational dynasty that he could be creating
if he wanted to.
Speaker 2 (27:30):
Because I mean, that is the question how much how
much money does it take to ruin someone's life? And
I think if you've earned it yourself, there's a completely
different vibe fear though.
Speaker 3 (27:39):
I think if you've grown up as Bill Gates's children,
I don't think life is so easy to start with.
Speaker 4 (27:44):
Either. You've got the money, but the reputation and the
name would would kind.
Speaker 2 (27:48):
Of if you'd want. Yeah, that's an interesting question. Look,
well we're going to taxt more calls on this eight
hundred and eighty ten eight. He've got lots of texts
on this. In fact, just before we do it, we'll
do one text last Bonnie, hold till after the break,
and we'll be back with you in a second. Paul says,
get a grip on reality. Most people don't don't gamble,
but we buy a lottery ticket. And what's wrong with that?
Speaker 4 (28:11):
That's a noxymoron because it is gambling.
Speaker 2 (28:13):
Yeah, it is simple as that. It's gambling, Paul. Most
people don't gamble, but they buy a lotto ticket. They gamble. Oh,
maybe Paul sees it as a charitable donation. If you
feel it's a charitable donation, maybe you're not gambling.
Speaker 4 (28:26):
Well maybe we can get our text deduction for the
charitable donation.
Speaker 2 (28:28):
All and you won't get a tex Imagine if you
could deduct lotto from your.
Speaker 4 (28:33):
It's a textical deduction.
Speaker 2 (28:36):
By the way, one of our callers, I can't remember
which one it was, was talking about, you know, you
get ambushed when you come out of the supermarket by
people collecting from charity. Look, I don't want to generalize,
but if you want one hundred percent of what you
give to charity to go to that charity, do not
give in that situation, contact the charity and give the
money directly to them. Because you might be surprised at
(28:58):
how little you donate through various charity charity collectors actually
makes it its way to the organization. Just a word
to the wise. There twenty two minutes to sex News Talk,
said b News Talks, he'd be talking about lotto windfalls.
What do you do with it? What would you do
with it? There was a whole bunch of questions around it.
In fact, we're going to dig into I'm not sure
(29:19):
if Rupert wants to share his thoughts on if he
had won the money as well, Rupert Carlin from Coral Wealth.
But we'll all dig in on that in just a moment,
because I quite like your simple setting for sit and forget.
But anyway, I've suddenly realized where that product gets its
name from.
Speaker 8 (29:36):
That body Hello, oh yes, I'm now a pensioner. Yeah,
and I used to buy a lot of checkers and
a big one every every month, yeah, not weekly. And
(29:56):
then when I went on the pension, I thought, well,
still I'm a favor and I'm not not want to
gamble as a rule, So I started buying one a fortnight,
a six dollar one and the big one. Yep, I
(30:18):
get four squares.
Speaker 2 (30:20):
Yep, four plus the plus the power.
Speaker 8 (30:23):
Yes, yes, and and I don't feel guilty because I
don't go to the pictures. I don't do anything much
at all. But the family had a bit of a
fall out amongst themselves and they they told me that
they were going to contest my will. So I made
(30:48):
a new will, and I chose three charities that have
always you know, contributed to And they have law yeers
for these charities, and I don't think they'd have a
chance of altering what I'm doing with them, with the
(31:09):
charities once I've made that will to those.
Speaker 4 (31:16):
Yeah, I mean that's a very noble thing.
Speaker 8 (31:18):
To do, and I think that I couldn't be fair.
Speaker 2 (31:25):
Okay, thanks Roy, What do you think of that? What
do you reckon?
Speaker 3 (31:28):
Reerll Look, I think that's extremely I think that's very
generous and very nice for you. And to be fear
if my children annoy me and male age, I think
that's a good half to follow.
Speaker 8 (31:37):
What are they getting so greedy now before they've even
got it?
Speaker 2 (31:41):
Yeah, Yeah, that's the problem.
Speaker 8 (31:44):
It's sort of squashed them there.
Speaker 2 (31:46):
Yeah, perfect, Hey, thanks for your cor Bonnie. A few texts.
Let's look at a few texts. We haven't really got
on to just win for because, of course, lotos are
something that triggers a bit, a bit of a conversation,
high tim. Lotto is the scourge on society. This is
a curious one. It says all vegetable grows hate it
when lotto Jackpot says sales drop off. People waste money
(32:06):
on tickets when they should be buying healthy vegetables. I
kid you not, cheers barut. Who's a vegetable graw?
Speaker 3 (32:14):
That makes it that that aligns with my thesis, which
is it's actually the people that can't really afford it.
Speaker 2 (32:20):
No broccoly for you. Today kids have got the lotto.
Speaker 4 (32:21):
Tech exactly, they'll be prioritizing a lotto ticket versus actually
food on the table.
Speaker 2 (32:27):
Thanks for your text. Does sound like a peculiar text
than you think about it and think it actually does
make sense, doesn't it? Yeah?
Speaker 9 (32:33):
Ummm.
Speaker 2 (32:34):
Donna writes, at present, the minimum amount of money that
you need to spend to have a chance to win
Powerball as six dollars being four lines, blah blah blah,
and that should be a standard product on the lotto counter.
I don't know what you mean by that.
Speaker 4 (32:46):
I mean it is sort of this makes sense to me.
Speaker 3 (32:49):
So rather than offering so the six dollars which is
the minimum which allows you to go when you go
into the supermarket, you see the twelve, sixteen or twenty
two or four or something like that, they're not actually
advertising the fact that you can get in there for
as low as six dollars.
Speaker 2 (33:04):
Okay, another one, any government paying a lot of advertising
campaign is shameful. The government's encouraging gambling with the absolute
knowledge that kids will go shoeless and hungry because of
their advertising, not to mention that the advertising itself takes
millions away from welfare. I could easily end up going
down that bit of a rabbit hole on this to
sort of thinking that lotto is is not good, that
(33:30):
we all play it.
Speaker 4 (33:31):
It's hard to argue that it's good.
Speaker 3 (33:33):
I mean, and actually there's a there are some interesting
stats from the Gambling or whatever it is, the Gambling
Commission I think it is, which say which do show
that a lot of people start their gambling careers with lotter,
and actually it does escalate because.
Speaker 2 (33:49):
I in fact I am aware because we did a
thing where for fun I drew numbers, we had little
tokenant and we drew our own numbers with my daughter
and I and I sort of think, oh god, imagine
if those numbers came up when I haven't bought the ticket.
So anything where you've drawn your own lucky numbers is
an addictive It draws you into an addiction because you think,
(34:12):
and now I'm thinking, no, don't worry about it, just
let it.
Speaker 3 (34:14):
Slide to Well, often what happens, right, So you might
you might win one thousand dollars on lotto, and then
you go, oh, actually, that's a nice win fall, and oh,
I might just take a little bit of sky.
Speaker 4 (34:25):
City, or I'll take it to TB.
Speaker 3 (34:27):
You can easily see how one small windfall kind of
escalates and continues and continues, and like many vices, it's
the first one which is the most problematic, because if
once you've won once, you think you can keep winning,
oh if you have.
Speaker 2 (34:41):
The problem is is we know someone who won Division
one Powerball twenty five million, my wife, and it makes
it feel closer to home, but still one in thirty
eight million away. I mean, I don't know what the
odds of knowing someone who'd win lighter would still be
would be pretty low too, actually, or long odds. It
is what I mean. So that's the problem is if
(35:01):
you think, look, that's the person who wanted it makes
it feel like it's more likely. It's like, sorry, it's
still one in thirty eight million per line. Anyway, let's
go to Wayne get eight.
Speaker 9 (35:10):
Yeah. When it comes to lotto, I look at it
a little bit differently. When the lotto has to be one,
I look at it as if you got one chance
in five million, because there's only five million people are
going to be playing and it has to be one.
So Gus Daniards, you're not playing for something that nobody's.
Speaker 2 (35:31):
Right.
Speaker 3 (35:31):
If you're going to play one a year, it's this
one you want to play because the odds are significantly better.
So you are one hundred percent right that the odds do.
Speaker 9 (35:40):
In regarding like if it had been terminating on the
Wednesday on Wednesdays at twelfth, which was the draw before,
then that big prize bool would have had to been
shared by ninety nine people because ninety nine people had
diversion three, nobody had division two, so that would have
been a very very small amount of money for everybody.
Speaker 2 (36:00):
Yep, God, mind you to be honest, if you've got
division three and the powerball, and you got the share
of fifty five, you're still taking half. Feeling pretty blim
and good about Yeah, half a million dollars?
Speaker 9 (36:11):
One that would be that would be ninety nine people
sharing it.
Speaker 3 (36:15):
Fifty million, Yeah, half million dollars, So it's half millionty
one hundred people sharing it.
Speaker 9 (36:21):
And the drawer on the fifth of example is eighty
eight people to share it.
Speaker 2 (36:26):
Yeah, okay.
Speaker 9 (36:27):
And regarding the wanting to add an extra power number,
I think that's just ridiculous that they're trying to say
that it's too easy now to win a lot of
times people just won four million.
Speaker 4 (36:40):
Yeah.
Speaker 3 (36:40):
Well, that's where I think the smokers warning would help, right,
because at least letting people know what the odds are,
what you picked.
Speaker 2 (36:46):
Do you know how the smoker is wanting? You know
the cigarette packets, Have you know a disease set of
lungs or something from an autopsy?
Speaker 4 (36:53):
What would you have for a lot of learned from
the vegetable graves?
Speaker 2 (36:57):
Yeah, they just have kids sitting around with empty dinner plates.
What are you spending your a lot of money on?
That actually would be quite a good campaign. I think
I could work on that. I'm available anyway. We'll be
back in just a minute because we're going to find
out what Rupert would do if he got it, because
it's a nice simple set and forget plan. We'll be
back in just a moment. Oh wait, actually we won't
(37:18):
have time for any more cause I don't think so
we'll be back in just a moment. Ten to two
news talks. It'd be just getting close to the end
here with only a few minutes left. Tim Beverage. My
guest is Rupert Carlin from Kura Wealth, and we're talking
about dealing with windfalls. Now, Rupert, you've got a simple
thoughts that if you came into the money, what would
(37:38):
you do.
Speaker 4 (37:41):
Oh, it's pretty simple for me.
Speaker 3 (37:42):
I would set up or I'd put some money into
every single one of my niece and niece and nephews.
Can we save accounts one hundred grand each so that
they can then help them buy their first home?
Speaker 2 (37:53):
Oh, because that's tied up for them anyway, they can't
blot on anything else.
Speaker 4 (37:58):
It's like a cheap trust exactly.
Speaker 3 (38:00):
A much cheaper trust which is much easier to administer.
So I'd be putting the I'd all get some money
into the KI we save it so then in fifteen
twenty years time they can thank me for giving them
their first home deposit.
Speaker 4 (38:12):
I would because I want a batch and I love
the beach. I'd do that.
Speaker 3 (38:16):
And in the rest, I would just simply put in
a US equity fund.
Speaker 4 (38:20):
I'd go just find a US a.
Speaker 3 (38:22):
Passage tracked something by the Sec five hundred, and I
would just let it sit there. And if I've got
forty million dollars left, that's going to give me an
income for the rest of my life of forty five
million dollars a year. And that's more than enough income
that will look after me, look after my children.
Speaker 2 (38:39):
You wouldn't be tempted by I might go for a
stick a few million and a really aggressive fund, and
I might stick of it. I mean, would you succumb
to once you started thinking, would you succumb to the
You know, it's all very well shoved in the S
and P and let's face it, if you'd done that
and ten years ago, you'd be happy, you'd be very happy.
But would you do you think there'd be a part
(39:00):
of you that goes, Okay, let's look at that fund
which goes for the tech stocks maybe I need to
do this because you've got that key. We save a fund, but.
Speaker 4 (39:07):
We do a little bit of bitcoin.
Speaker 2 (39:08):
I mean, can we save that bitcoin? One feels very naughty,
but it did have that ridiculous growth.
Speaker 4 (39:15):
Look, I think you might. You might take a little
bit of a slice. So the key to investing.
Speaker 3 (39:21):
So my view is if I've got a one fall
like that, I want to use it to set me,
my family and my grandkids up forever. And the easiest
way to do that is keeping it so simple. Simplicity,
simple investing is by far and away the best investing.
Maybe yeah, okay, maybe there's a little allocation to bitcoin,
a five percent allocation of bitcoin, but what would.
Speaker 2 (39:43):
You be driving.
Speaker 4 (39:44):
I'd probably still.
Speaker 3 (39:45):
Be driving my current Fort Everest because to your point,
I don't want anyone to know what I've got.
Speaker 2 (39:49):
That is the catch. That's why I mentioned it.
Speaker 4 (39:52):
I don't want to bring you.
Speaker 2 (39:53):
I could explain it away. If I had an Aston Martin,
because I have been sponsored by them for some of
the concerts. I take the bond and I'd say, look,
I've got this great sponsorship deal. They've given me a
car for a year, and I'd make I produce lots
of Bond concerts. But in fact that.
Speaker 4 (40:09):
I thought, I've thought you've got that full story. But
it's and I think, but it's about keeping it simple, right.
Speaker 3 (40:16):
And the key where all these windfalls and where investing
goes wrong is you try and do too much. You
try and borrow a whole lot to go buy yourself
a twenty million dollar house that you can't afford to keep.
Speaker 4 (40:27):
I mean, you just keep it simple.
Speaker 2 (40:28):
In fact, we just finished renovating our house and we'd
enjoy it for a while until we found something else.
And oh, I could see you buy What is it?
It's like that. There's a song about, you know, you
buy something to dream. Maybe it's Shakespeare something per chance
to Dream or whatever. I don't know what it is.
I don't think he rated it a lot. I don't
think Shakespeare wrote a poem about a son. It about
gambling or about lots. Now it would have been a
(40:50):
cynical one, wouldn't it the dreamer's text? Yes, indeed, I
have to think about that one for a moment anyway,
he rupert. Thanks for coming in, mate, great, thank you.
If you've missed any of the hours, I recommend go
go and check them out on iHeart Radio. Look for
the week Collective thanks to my producer Tire Reward and
we'll look forward to your company again same time next
(41:10):
weekend Sunday at Sex is Next.
Speaker 9 (41:13):
Oh, I'm a.
Speaker 8 (41:14):
Bit crazy about the world is saying.
Speaker 1 (41:17):
For more from the Weekend Collective, listen live to news
Talks It Be weekends from three pm, or follow the
podcast on iHeartRadio.
You're listening to the Weekend Collective podcast from News Talks EDB.
Speaker 2 (00:34):
Yes, and welcome back. This is the Weekend Collective or
welcome in. Should I say if you've just joined us
and if you we love your calls. I'm Tim Beverage.
We love your calls. I know eight hundred and eighty
ten eighty text nine to nine two and yeah, this
hour it is smart money and we're going to talk
about windfalls. Now, what prompted this was just well, you
(00:56):
know that lotto got to a ridiculous amount of fifty
five million dollars, and of course, you know, everyone would
have been hoping that maybe, you know, maybe maybe maybe
it went to a you know, would be spread amongst
a few people, and that you'd be one of them.
Of course, if you were one of them, you'd be
happy if it wasn't split at all, and you just
want the whole fifty five million to yourself. But that's
(01:18):
not the only way that you can end up with
a windfall. People will receive inheritances all the time. Unexpected
amounts of money come in. I wouldn't want to say
you've been lucky on the horses. That's probably feel like
I'm really encouraging gambling. But then again, if lotto wasn't gambling,
then what is it? So you know, what, what what
should you do? If you end up encountering and receiving
(01:41):
a large amount of money that's beyond what your expectations?
What do you what should you do with it? Do
you pay up the mortgage? Do you book a do
you book a holiday? Or do you do as some
of the conversation before the show, before the sorry, before
the draw was the do nothing thing, just stick in
the bank and wait for a year for a whole
bunch of reasons. But as we know, three lucky punters
(02:03):
on the lotto thing they won eighteen point three million
dollars each. Anyway, but what is the smart thing? Because
that's not the only reason Kiwi's come into money. It
might be a wealthy aunt you didn't know existed, might
be someone who you did know existed, just been waiting
for that inheritance to tick over in a cold callous way.
(02:24):
But either way, you've got the money come in, what
do you do with it? We want your thoughts, questions, opinions.
You can actually if you want, we talked. You know,
we're discussing a broad range of topics here. What's it
a bit obscene? That had got to fifty five million dollars?
Do you want to think about obscene? I think there's
a lot of in states, which is up to about
nine hundred and seventy nine million. It's close to a
(02:45):
billion dollars. So yeah, but what have you done with
a wind for? What would you do? Because you know what,
that's probably what we really purchased from me buy that
lotto ticket, We buy a few minutes of dreaming of
what life would be like before the inevitable disappointment except
for those three unpleasant people who won eighteen anyway to
(03:06):
discuss that, he is the managing director at Kura Wealth.
That's ko you are a and his name is Rupert
Carlyon and he's with me now, Rupert, how are you going?
Speaker 3 (03:17):
I'm very good, fortunately not as good as I would
be if i'd been a winner last night.
Speaker 2 (03:20):
But would you be able to keep it secret if
you had won that money? Would you have well, Tyra,
I'll be saying, oh, Rupert's pulled the pin on today's show?
Or would you be able to keep it to yourself?
Because I would have thought that's a big priority.
Speaker 4 (03:37):
I like to think that I would.
Speaker 3 (03:39):
Yeah, I mean, like all New Zealander's I had, I
had lots of dreams yesterday and you bought the ticket.
Speaker 4 (03:45):
Of course, I didn't even know you gambled.
Speaker 3 (03:48):
It's gambling, and it's kind of the most The worst
financial decision you can ever make is buying a lot
of ticket.
Speaker 2 (03:53):
Yeah, but it's just too hard to resist, probably because
it had to go. So it might not have been
in the one and thirty eight million per line. It
might have been in the one and.
Speaker 3 (04:02):
Yeah, but it's this dreams not selling fifty five million dollars.
And that's why the ad campaign they're running is so powerful.
They're selling this dream of you're changing your life and
all it takes is for me to go on spend
my sixteen dollars and I'm going to be given a
brand new life that's completely different from anything that I
currently have. And even though I sit there and I
(04:24):
kind of I do the maths. It's one thirty eight
million dollars per line. What is it three dollars a
line or four dollars a line.
Speaker 4 (04:30):
That's the worst decision very.
Speaker 2 (04:32):
Well, very much. That ten lines with the Powerball is
fifteen dollars fifty Yeah, there we go.
Speaker 4 (04:42):
Let me do the numbers for you do you do
the detail.
Speaker 3 (04:45):
But it's a terrible financial decision because it's kind of it.
Speaker 4 (04:49):
It's black and white.
Speaker 3 (04:51):
The odds that it's binary and the odds of losing
it are so so high. I mean, the most appressing
part about it right now is actually the Lottery Commission
is lobbying the government to allow them to add another number.
Actually I don't understand that, because it's simple. It's the
probability that goes down, so rather than currently being one
(05:13):
and thirty eight million, it.
Speaker 4 (05:14):
Goes a whole lot higher.
Speaker 3 (05:16):
They do that because last night, I think I read
they sold kind of one and a half million tickets
last night. When it gets to these massive numbers, they
sell a hell of a lot more tickets home.
Speaker 2 (05:26):
On what I would, I've got less chance of winning.
I'm a lot of rational visation. Actually, it's already already
unlikely to want a ticket.
Speaker 3 (05:35):
But so that that all of the research and all
the evidence shows that actually when the jackpot gets huge,
people just go and buy them.
Speaker 2 (05:43):
But they've kept the jackpot at fifty million. It only
got fifty five because they'd spent so much the week before.
Speaker 3 (05:48):
But that will be but kind of moving forward, what
they can do is rather than so actually that makes
sense kind of a dollar they want bigger gym party
eight it's one in thirty eight million chants. That means
that actually they have to cap it at fifty because
otherwise someone can go out and buy every single line
and be guaranteed to win.
Speaker 4 (06:05):
Whereas, yes, so if.
Speaker 2 (06:06):
You've got well, then again it doesn't guarantee you might
not split the price.
Speaker 4 (06:10):
You will problem exactly.
Speaker 2 (06:11):
That's the thing. And I think they have mechanisms for
stopping people buying one to thirty eight million tickets.
Speaker 3 (06:18):
Maybe it's happened a bit in the US where they're
kind of people are gaming some of those lotteries, some
of the smaller state lotteries.
Speaker 4 (06:24):
But the idea is that if you.
Speaker 3 (06:27):
Can create one hundred million dollar prize, they reckon that.
Rather than selling one and a half million dollar tickets
half million tickets, they might sell two and a.
Speaker 2 (06:35):
Half Well you know you've Actually that just feels wrong
to me totally. I don't know. But the thing is,
the odds are ridiculous anyway, So why am I complaining
about them being slightly.
Speaker 3 (06:46):
So if I coming from a financial markets person, right,
if I said, hey, they need to disclose in exactly
the same way that I need to have my disclosure.
Why shouldn't it be that every single time you buy
a ticket it says, did you know that there's only
a one in thirty eight million chance of every line
that you buy?
Speaker 2 (07:03):
Like a warning, like a warner, like a warning. Honestly
exactly that.
Speaker 3 (07:07):
In my view, that is exactly what they should be doing,
because what we do know is there's a lot of
people in poverty who will spend twenty dollars or however
much on a lotto ticket before they'll buy anything else.
I mean, I was just saving the analogy of or
not the analogy of the story. When I bought my
ticket yesterday, I saw that they kind of offered me
(07:28):
the option to cap my spending every week on lotto.
They're suggested number one hundred and twenty five dollars a week.
Speaker 4 (07:37):
Exactly.
Speaker 2 (07:38):
That's that's Grandy's Grandy, Yeah, yeah, six thousand bucks a year.
Speaker 4 (07:42):
That was kind of what the default setting was on
my cap.
Speaker 2 (07:45):
Actually probably look actually, and there is something about having
fun and if you if you can control your lotto
spend to something like but of course it's not just
once a week, it's twice a week. It's Wednesday and Saturdays.
So that could be if you are doing, say mostly
twice a week with ten lines in the power balls,
(08:06):
that's thirty dollars a week. That's fifteen hundred dollars a year.
I don't really want to know what the value of
that money would be over the years if you just
because that would be probably over the let's just take
ten years that somebody could easily spend ten grand. If
we're going to be conservative, over the course of ten years,
compound interest and key, we say that.
Speaker 4 (08:26):
Twenty to twenty five by the time you're done.
Speaker 2 (08:28):
BlimE me, what a.
Speaker 4 (08:30):
Much better investments.
Speaker 2 (08:31):
So Rupert has thrown a few cats into the pigeons there.
It's because he's talked about what lot I would like
to do is extend the odds, so they have you know,
the jackpots are less likely he'd be one. So they
get to a stage where they're going to have more
frequent sort of fifty million things and one hundred and
twenty five bucks a week. You can add your comments
on that if you like. But also what is it
(08:53):
you buy a lotto ticket for? Because there was one
positive side effect for me at one stage, which I'm
happy we'll kick in again. I when I was buying
Loto tickets and I still buy them, probably more frequently
than I should, but I would stop and think about, gosh,
this is what life would look like. Yeah, and I
(09:14):
did think, well, what are some ways I could try
and make that money myself, not that money, but make
more money. And so it actually made it helped with
me being aspirational on a couple of things, with some
of the concert size producing, and I thought, you know what,
I've got something. I know what I'm doing there. Maybe
I should just simply instead of focusing on the stupid lotto,
(09:35):
focus on making more money by being adventurous and creative.
And that was I think a positive thing that could
come out of it. You know, you dream about one thing,
then think about or is that quite rare?
Speaker 4 (09:49):
I reckon, that's pretty rare, But I like that as
an idea. I mean, I think, yeah, to be blunt.
Speaker 3 (09:57):
I struggle to see too much positive out of it,
apart from the lotteries grants that get given.
Speaker 4 (10:01):
On the other side, I think.
Speaker 2 (10:04):
There's a lot of a plague on our country.
Speaker 3 (10:07):
For certain demographics. Yes, for certain demographics. I think that
lotto is effectively a dream as tax.
Speaker 2 (10:16):
A dreamers tax. Yeah, yeah, and actually not a small
tax either. No, what do you reckon eight hundred eighty
ten eighty. I know we've got the other Anglo throughout there,
which is about windfalls. But if you also, if you've
been in receipt on a side of lotto, if you've
been in receipt of a windfall, how have you coped
with it? If you weren't expecting it, or maybe you
(10:36):
were expecting something there was a lot more than your thought.
Give us a call on eight one hundred and eighty
ten eighty in text on nine two nine two. Actually,
if you must have advised a few people and who've
come in to win, what's what's the quirkiest obviously know names,
what's the quirkiest or the thing that pops into your
mind when you think about people who've had windfalls you've advised.
Speaker 4 (10:58):
The big one.
Speaker 3 (10:59):
I mean it's not quirky, but it's I mean one
of both the nicest but also the most harmful that
I saw was someone that was just so desperate to
help their children, and so actually just gave them money
straight down to their children, and they blew it exactly.
The children didn't do a great job with it, and
it also meant that the parents were left still with
(11:21):
their massive mortgage and couldn't afford to do retirement. So
that's I mean, I haven't seen too many at the
begin but that's kind of one of the nice ones.
I mean, it's always a really nice conversation when you
can sit down with a client or with someone and go, well, actually,
you've just received this money, what are your dreams? Because
that's a real conversation where you can go, well, what
(11:44):
keeps you awake at night? What do you actually want
to achieve over the next kind of ten, twenty, thirty,
forty years. What do we do and let's start thinking
about how we can use your money to help you
do that, right. So, and it can be as simple
as let's just pay down the mortgage so you don't
stress about that anymore. It can be hey, let's put
(12:04):
it in the market, let's go for a little bit
of a let's put invest it. Let's aim to do
a five to ten percent turn on that money, and
it's actually really nice. And then that's always my favorite
because well that's what I do. But more importantly, you
get that phone call sex telve months later and they go, ah,
that's awesome. This is actually working particularly at the moment
we market, because there are.
Speaker 2 (12:24):
A few things you can interally do. Just as you say,
your pay off the mortgage, because why wouldn't you.
Speaker 3 (12:29):
Not necessarily right, I mean today, setting at a four
four and a half percent mortgage rate markets over the
last kind of ten to fifteen years of delivered ten
to twelve percent per annum, you would have been better
to stay invested. It's not quite as slam dunk as
should you always pay down that mortgage. That The other
piece around keeping a mortgage is particularly if you've got
(12:51):
a good income. Yeah, you know you're going to pay
that off anywhere, right, So the mortgage can be seen
as a little bit of a forced savings.
Speaker 2 (12:58):
And this is we're not talking a lot of here,
We're just talking about you.
Speaker 4 (13:02):
You might have inherited half million bucks or something like that.
Speaker 2 (13:04):
You might be off investing that half a million and
leaving the mortgage. What you're going to get out of
that investment the mortgage, Yeah, Okay, we want your cause
on this. I'm dealing with a windfall and also just
the thoughts about Lotto and what the plans might be
to make the Lord odds even harder with you know,
more more big sort of windfalls but ridiculous sides. Is
(13:26):
lotto a plague on our society when you think of
the amount of money that gets spent on it easy
to argue it is. I'm not going to really push
back on ripon on that one because I think it
probably is as much as I like to indulge as
well because alcohol is also a plague on the country.
But I do like a g and t of an
evening anyway, taking your cause eight hundred and eighty ten eighty,
(13:48):
let's just kick it off right now with Bruce Good.
Speaker 5 (13:51):
Yeah, Hello, We're just we're talking about.
Speaker 2 (13:54):
The inheritances wind fall.
Speaker 5 (13:58):
Oh yeah, inheritance to your big your pardon. I was
in a situation where my mother, you know, pasted, well,
my mom and dad were. My dad went to war
and they were of that generation where they they bought
a house on the north shore that looked at Ragnitoto
and they just stayed there for forty years. Et cetera.
My mom recently passed away, and my sister and I,
(14:22):
who were the sole beneficiaries, came into a significant inheritance.
You know, we're you know, sort of about three four
million each, and a couple of things. The thing firstly
coming having worked overseas for many, many years, the first
thing that struck me is there's no inheritance tax in
this country, which which meant my sister and I had
(14:44):
not done a Erica work but got two and a
half million dollars tax free into our bank accounts. And
I gain well, that's that's the law of it, that's
the inheritance.
Speaker 2 (14:57):
Were you offended by that, Bruce?
Speaker 5 (14:59):
No, I know I wasn't offended by that. But it's
just partner past of the the whole, the whole lax
tax system that we've got capital gains tax well tacked anyhow.
That's another story. But what I'm what I was talking,
what I want to talk about is I had all
this money in my account and I sat down, I said,
(15:22):
what am I going to do with it? I'm going
to put it here. I can get this suck and
get the interest on this, and I can get the
interest on this, and I can buy shares on this.
But everywhere I look there was a tax implication, and
I thought, do I really want to constantly have that?
Do I want to give it to someone to manage.
My son is a partner of Price Waterhouse, and I
(15:44):
spoke to him and he drew up a deed of gift,
which is a legally binding document, and I was able
to give them enough. I was able to give them
enough money so they could buy my two children that
are on the Gold Coast. We're able to significant amount,
you know, six seven hundred towards a deposit which got
(16:05):
them in and my son who was set up. But
I looked at that and I thought, you know, at
my age and what my gearing capacity is and my
text implications, your advisor will understand this. I thought, I'm
much better to give that to my children as an
early inheritance of my inheritance, pass it on to them
(16:28):
now because they need it now. I got my inheritance
from my mum when I don't need it.
Speaker 3 (16:34):
You know, I think that's a common that's a common thing,
and I think that's a very we're kind of particularly
with the aging population, where people are receiving inheritance at
the age of sixty or seventy. And the key thing though,
is making sure to what I said, sitting down and going, well, actually,
what are my requirements, because and I think that's what
we'd see. You've got to be a little bit selfish
(16:55):
to start with and going what do I need first,
and what's going to be kind of help me make
sure that I can live to one hundred comfortably before that?
I mean tax implications. Look, I wouldn't worry too much
about that taxes tax. I mean you just take the
win that you didn't pay an inheritance tax. Were you
lucky to live in New Zealand with one of the
(17:15):
only countries in the world where we don't have that?
Speaker 5 (17:19):
Yes, well I yeah. I My reasoning was those my
children would be able to with the capital gains and
the properties they would buy, they'd be able to gear
up that money and they'd make more out of that
money than I could. Plus they wouldn't have tax, whereas
if I was to hang on to it, I would
have to pay tax, whereas if they put it into
(17:39):
real estate they get a tax positive in some way
where you know, how were you.
Speaker 2 (17:46):
Going to how are you not going to pay tax
if you invested it.
Speaker 5 (17:50):
Well, I didn't really want to invest it because it
was just it was you pay tax on.
Speaker 4 (17:55):
The interest interest. But if you and shares, you would
have avoided the tax.
Speaker 5 (18:01):
Yeah what what I found? What?
Speaker 4 (18:04):
You know?
Speaker 5 (18:04):
I want a simple life now, and that's that's what
because work all my life and I just didn't want
to have to have that constant worry.
Speaker 6 (18:13):
You know, it's not you just want.
Speaker 2 (18:15):
To divest yourself with the stress of having all that.
Speaker 5 (18:17):
Yeah, these stress from money.
Speaker 2 (18:20):
Yeah, fair enough, Bruce. That's I mean, each each to
their own. You've just got to I think if I
wouldn't want to pass it straight on to anyone, because
I trust myself more to control them, that that asset
better than I would if I'd just gap to my kids,
he'd go and blow it.
Speaker 3 (18:37):
I think houses and housing is a good one to
put them and helping them into their first home. It's
and that's it's a nice one. I think I do
find it quite interesting. Look where you've basically hit the
nail on the head of saying, hey, the text situation
is far better to put it into property than to
do anything else, and that's a massive problem for our economy.
Speaker 2 (18:59):
Okay, let's take Actually, we can't take some more calls
right now because we're going to take a moment. We're
going to be back in a moment with your calls.
One hundred and eighty TN eight text nine to nine two.
It's twenty five and a half past five new stalks.
Heid B News Talk said B we're talking about windfalls
and lotto and taking your calls with Rupert Carlyon from
Corara Wealth. It's Ko. You are A and Tim. Hello
(19:22):
you guys, So I good, thanks.
Speaker 6 (19:25):
Well, I guess in a good wye. I don't need
any financial advice today because I didn't win anything on Lotte.
Speaker 2 (19:32):
Oh it's I thought I was going to say, you
don't need financial advice because you've already got lots of
pots of cash.
Speaker 6 (19:39):
No God knows, but that's all right as well. You know,
every time any of us buy lot A, we're contributing
to charity. That's a good thing. And if we were
one of the lucky people or one of the people
who win huge amounts of money, every time, you've got
(20:05):
that option as well to spread it around, you know,
as well as taking care of yourself and your own family.
Speaker 4 (20:14):
I agree, it's a nice way to think.
Speaker 3 (20:18):
So, coming back to that piece of maths, around one
thousand dollars a year or fifteen hundred dollars a year,
do you think that money might be better put to
causes that are very close to you.
Speaker 6 (20:31):
Yeah, there's an option to do that. I personally would
rather take the punt on, you know, getting the win
and then you could give them more. And I'm happy that,
you know, I buy six dollars, builded it, so I'm
not hugely invested in it. But like we know, you
(20:53):
only need one line. But what I can say is
when I walk past, you know, you get ambushed coming
out through a supermarket lobby and this group or that
group will literally be ample, I can look at them
in the eyes and say, hey, thanks, appreciate what you're doing.
But I already donate your charities and I don't have
(21:14):
to feel guilty about that. If it's something particularly that
I might be interested in the Heart Foundation, you know,
if I've got some money on me, they're welcome to it.
I also don't have a problem with Lotto h payouts
going sky high, because you know, it is a dream.
Speaker 2 (21:34):
Yeah, Rather it was less frequent, but there was more
chance that every six months or so they'd be a
hundred million going.
Speaker 6 (21:44):
Yeah, for sure, it doesn't bother me. I mean, you've
got to I'm not expecting. I'm not expecting to ever win.
I'd like to, but it'd be nice. But I think
there was like quite a fear few people last night
that ended up like fifty on grand, didn't they something
like that?
Speaker 2 (22:04):
Actually, to be honest, I didn't follow it closely enough.
I just know there were three winners of eighteen point
three million now, and yeah, they're good on your favorite,
thanks Tim. I mean that's I mean the weird winners
who won smaller amounts of cash as well.
Speaker 3 (22:17):
Ah, then winning fifty one hundred grand that can be
life changing for a lot of people too. So yeah,
he is right that we focus on the big number
in that one thirty eight million chant, but there is
there are a lot of people that fifty hundred and
fifty thousand dollars that's also life changing for a lot
of people.
Speaker 2 (22:32):
I'm gonna have I'm going to actually check that the
what the other amounts were, because I once got five
numbers out of six and got five hundred bucks. So
you know that's not the matter.
Speaker 4 (22:43):
Maybe I got four last night and I got thirty.
Speaker 2 (22:46):
Yeah, I mean yeah, I thought five would be worth that. Actually,
be honest, I didn't think to be worth a lot,
but I did think maybe fifteen hundred.
Speaker 6 (22:54):
Yeah.
Speaker 2 (22:55):
It is interesting that your motions when you see the
numbers tick over, because I don't normally ever follow it,
but I just went and it was like yes, yes,
and it got to four and I was like, oh
my god, that's four in a row. And then got
five in a row and my head started to go
and then not. So that was I mean, the you know,
but it was an interesting journey. What's the time. Here's
(23:16):
twenty seven and a half minutes to six. Brian.
Speaker 7 (23:19):
Hello, Yes, hello, listening to your show. Really interesting.
Speaker 2 (23:28):
Good.
Speaker 7 (23:29):
In terms of lotto, I buy a lotto ticket each weekend.
Basically I regard it as a charitable donation because I
don't have any expectation of winning money. If I did
win some money, that would be nice. If I had
a big win, what I would do because I have
(23:51):
because I carry no debt, I would set up trusts
for the grandchildren and direct the money to their education
because I'm investing in another generation.
Speaker 3 (24:11):
And can I ask something slightly controversial. Why why would
you go straight to the grandchildren and not give it
to your kids and trust them to do that for
their children.
Speaker 7 (24:25):
Sorry, I don't mean I would do it directly. There
would be consultation with with their parents, of course, but
we would we would.
Speaker 5 (24:34):
Work to.
Speaker 7 (24:38):
Provide for the two generations that succeed me, because you know,
I really, really, really firmly believe that investing particularly in
education for the succeeding generations makes them better people, gives
(25:01):
you satisfaction, and quite frankly, it makes the world a
better place because you have people who are better educated,
they can make better decisions, particularly if they are in
decision making positions.
Speaker 2 (25:18):
Yeah, not fair enough, Brian. Actually I did say that.
I'm thinking the problem would be I hate my kids
not to strive for life. And I think that's because
we've discussed this before and talk back sort of thing.
But does money buy your happiness? And no. And there
was something interesting that popped up, I think, on the
(25:40):
news last night before the draw, and they had different
people commenting, but there was that there was someone who
was talking about the do nothing thing, and one of
his points was that when people know you have money,
your relationship with those people with many of those people
will change, and I think the implications is not necessarily
(26:01):
for the better, because they will their expectations around you. Seriously,
you've got twenty million bucks where you had nothing before,
and people around you are similarly and a financially in
pecunious situation. Maybe I think it would just destroy friendships
if you.
Speaker 6 (26:18):
Would.
Speaker 2 (26:19):
That's which leads me the thing whatever, you have to
keep it to yourself, including not letting your kids know,
because all of a sudden, I don't know, maybe that
ambition they had to go off and become a brain
surgeon or whatever suddenly evaporates because hey, I can just
have a good time instagramming from Greece.
Speaker 4 (26:37):
The family is always the hardest. I we'd a.
Speaker 3 (26:40):
Person that I used to work with in Sydney who
he was actually the hear to one of the big
Australian kind of billionaire families, and his far exactly to
avoid that. What his father said to him was, no,
you're not getting a cent from me.
Speaker 4 (26:55):
You go work.
Speaker 3 (26:56):
You work very hard on an investment bank, and he
used to work kind of one hundred hundred and twenty
hour weeks.
Speaker 4 (27:01):
But if you can survive that for ten years. I'll
give you whatever job you want.
Speaker 2 (27:05):
Wow. Actually, and there are well publicized cases of people
have been very wealthy of it who've given most of
the way and said that their kids don't. Don't you
hang around going for this? Oh that's so.
Speaker 4 (27:17):
But Bill Gates is kind of leaving, I mean, to
be fair.
Speaker 2 (27:20):
Probably by my house.
Speaker 3 (27:21):
Well it's it's still going to be a couple hundred
billion millions, but it's not it's not the billions that
creates the multi generational dynasty that he could be creating
if he wanted to.
Speaker 2 (27:30):
Because I mean, that is the question how much how
much money does it take to ruin someone's life? And
I think if you've earned it yourself, there's a completely
different vibe fear though.
Speaker 3 (27:39):
I think if you've grown up as Bill Gates's children,
I don't think life is so easy to start with.
Speaker 4 (27:44):
Either. You've got the money, but the reputation and the
name would would kind.
Speaker 2 (27:48):
Of if you'd want. Yeah, that's an interesting question. Look,
well we're going to taxt more calls on this eight
hundred and eighty ten eight. He've got lots of texts
on this. In fact, just before we do it, we'll
do one text last Bonnie, hold till after the break,
and we'll be back with you in a second. Paul says,
get a grip on reality. Most people don't don't gamble,
but we buy a lottery ticket. And what's wrong with that?
Speaker 4 (28:11):
That's a noxymoron because it is gambling.
Speaker 2 (28:13):
Yeah, it is simple as that. It's gambling, Paul. Most
people don't gamble, but they buy a lotto ticket. They gamble. Oh,
maybe Paul sees it as a charitable donation. If you
feel it's a charitable donation, maybe you're not gambling.
Speaker 4 (28:26):
Well maybe we can get our text deduction for the
charitable donation.
Speaker 2 (28:28):
All and you won't get a tex Imagine if you
could deduct lotto from your.
Speaker 4 (28:33):
It's a textical deduction.
Speaker 2 (28:36):
By the way, one of our callers, I can't remember
which one it was, was talking about, you know, you
get ambushed when you come out of the supermarket by
people collecting from charity. Look, I don't want to generalize,
but if you want one hundred percent of what you
give to charity to go to that charity, do not
give in that situation, contact the charity and give the
money directly to them. Because you might be surprised at
(28:58):
how little you donate through various charity charity collectors actually
makes it its way to the organization. Just a word
to the wise. There twenty two minutes to sex News Talk,
said b News Talks, he'd be talking about lotto windfalls.
What do you do with it? What would you do
with it? There was a whole bunch of questions around it.
In fact, we're going to dig into I'm not sure
(29:19):
if Rupert wants to share his thoughts on if he
had won the money as well, Rupert Carlin from Coral Wealth.
But we'll all dig in on that in just a moment,
because I quite like your simple setting for sit and forget.
But anyway, I've suddenly realized where that product gets its
name from.
Speaker 8 (29:36):
That body Hello, oh yes, I'm now a pensioner. Yeah,
and I used to buy a lot of checkers and
a big one every every month, yeah, not weekly. And
(29:56):
then when I went on the pension, I thought, well,
still I'm a favor and I'm not not want to
gamble as a rule, So I started buying one a fortnight,
a six dollar one and the big one. Yep, I
(30:18):
get four squares.
Speaker 2 (30:20):
Yep, four plus the plus the power.
Speaker 8 (30:23):
Yes, yes, and and I don't feel guilty because I
don't go to the pictures. I don't do anything much
at all. But the family had a bit of a
fall out amongst themselves and they they told me that
they were going to contest my will. So I made
(30:48):
a new will, and I chose three charities that have
always you know, contributed to And they have law yeers
for these charities, and I don't think they'd have a
chance of altering what I'm doing with them, with the
(31:09):
charities once I've made that will to those.
Speaker 4 (31:16):
Yeah, I mean that's a very noble thing.
Speaker 8 (31:18):
To do, and I think that I couldn't be fair.
Speaker 2 (31:25):
Okay, thanks Roy, What do you think of that? What
do you reckon?
Speaker 3 (31:28):
Reerll Look, I think that's extremely I think that's very
generous and very nice for you. And to be fear
if my children annoy me and male age, I think
that's a good half to follow.
Speaker 8 (31:37):
What are they getting so greedy now before they've even
got it?
Speaker 2 (31:41):
Yeah, Yeah, that's the problem.
Speaker 8 (31:44):
It's sort of squashed them there.
Speaker 2 (31:46):
Yeah, perfect, Hey, thanks for your cor Bonnie. A few texts.
Let's look at a few texts. We haven't really got
on to just win for because, of course, lotos are
something that triggers a bit, a bit of a conversation,
high tim. Lotto is the scourge on society. This is
a curious one. It says all vegetable grows hate it
when lotto Jackpot says sales drop off. People waste money
(32:06):
on tickets when they should be buying healthy vegetables. I
kid you not, cheers barut. Who's a vegetable graw?
Speaker 3 (32:14):
That makes it that that aligns with my thesis, which
is it's actually the people that can't really afford it.
Speaker 2 (32:20):
No broccoly for you. Today kids have got the lotto.
Speaker 4 (32:21):
Tech exactly, they'll be prioritizing a lotto ticket versus actually
food on the table.
Speaker 2 (32:27):
Thanks for your text. Does sound like a peculiar text
than you think about it and think it actually does
make sense, doesn't it? Yeah?
Speaker 9 (32:33):
Ummm.
Speaker 2 (32:34):
Donna writes, at present, the minimum amount of money that
you need to spend to have a chance to win
Powerball as six dollars being four lines, blah blah blah,
and that should be a standard product on the lotto counter.
I don't know what you mean by that.
Speaker 4 (32:46):
I mean it is sort of this makes sense to me.
Speaker 3 (32:49):
So rather than offering so the six dollars which is
the minimum which allows you to go when you go
into the supermarket, you see the twelve, sixteen or twenty
two or four or something like that, they're not actually
advertising the fact that you can get in there for
as low as six dollars.
Speaker 2 (33:04):
Okay, another one, any government paying a lot of advertising
campaign is shameful. The government's encouraging gambling with the absolute
knowledge that kids will go shoeless and hungry because of
their advertising, not to mention that the advertising itself takes
millions away from welfare. I could easily end up going
down that bit of a rabbit hole on this to
sort of thinking that lotto is is not good, that
(33:30):
we all play it.
Speaker 4 (33:31):
It's hard to argue that it's good.
Speaker 3 (33:33):
I mean, and actually there's a there are some interesting
stats from the Gambling or whatever it is, the Gambling
Commission I think it is, which say which do show
that a lot of people start their gambling careers with lotter,
and actually it does escalate because.
Speaker 2 (33:49):
I in fact I am aware because we did a
thing where for fun I drew numbers, we had little
tokenant and we drew our own numbers with my daughter
and I and I sort of think, oh god, imagine
if those numbers came up when I haven't bought the ticket.
So anything where you've drawn your own lucky numbers is
an addictive It draws you into an addiction because you think,
(34:12):
and now I'm thinking, no, don't worry about it, just
let it.
Speaker 3 (34:14):
Slide to Well, often what happens, right, So you might
you might win one thousand dollars on lotto, and then
you go, oh, actually, that's a nice win fall, and oh,
I might just take a little bit of sky.
Speaker 4 (34:25):
City, or I'll take it to TB.
Speaker 3 (34:27):
You can easily see how one small windfall kind of
escalates and continues and continues, and like many vices, it's
the first one which is the most problematic, because if
once you've won once, you think you can keep winning,
oh if you have.
Speaker 2 (34:41):
The problem is is we know someone who won Division
one Powerball twenty five million, my wife, and it makes
it feel closer to home, but still one in thirty
eight million away. I mean, I don't know what the
odds of knowing someone who'd win lighter would still be
would be pretty low too, actually, or long odds. It
is what I mean. So that's the problem is if
(35:01):
you think, look, that's the person who wanted it makes
it feel like it's more likely. It's like, sorry, it's
still one in thirty eight million per line. Anyway, let's
go to Wayne get eight.
Speaker 9 (35:10):
Yeah. When it comes to lotto, I look at it
a little bit differently. When the lotto has to be one,
I look at it as if you got one chance
in five million, because there's only five million people are
going to be playing and it has to be one.
So Gus Daniards, you're not playing for something that nobody's.
Speaker 2 (35:31):
Right.
Speaker 3 (35:31):
If you're going to play one a year, it's this
one you want to play because the odds are significantly better.
So you are one hundred percent right that the odds do.
Speaker 9 (35:40):
In regarding like if it had been terminating on the
Wednesday on Wednesdays at twelfth, which was the draw before,
then that big prize bool would have had to been
shared by ninety nine people because ninety nine people had
diversion three, nobody had division two, so that would have
been a very very small amount of money for everybody.
Speaker 2 (36:00):
Yep, God, mind you to be honest, if you've got
division three and the powerball, and you got the share
of fifty five, you're still taking half. Feeling pretty blim
and good about Yeah, half a million dollars?
Speaker 9 (36:11):
One that would be that would be ninety nine people
sharing it.
Speaker 3 (36:15):
Fifty million, Yeah, half million dollars, So it's half millionty
one hundred people sharing it.
Speaker 9 (36:21):
And the drawer on the fifth of example is eighty
eight people to share it.
Speaker 2 (36:26):
Yeah, okay.
Speaker 9 (36:27):
And regarding the wanting to add an extra power number,
I think that's just ridiculous that they're trying to say
that it's too easy now to win a lot of
times people just won four million.
Speaker 4 (36:40):
Yeah.
Speaker 3 (36:40):
Well, that's where I think the smokers warning would help, right,
because at least letting people know what the odds are,
what you picked.
Speaker 2 (36:46):
Do you know how the smoker is wanting? You know
the cigarette packets, Have you know a disease set of
lungs or something from an autopsy?
Speaker 4 (36:53):
What would you have for a lot of learned from
the vegetable graves?
Speaker 2 (36:57):
Yeah, they just have kids sitting around with empty dinner plates.
What are you spending your a lot of money on?
That actually would be quite a good campaign. I think
I could work on that. I'm available anyway. We'll be
back in just a minute because we're going to find
out what Rupert would do if he got it, because
it's a nice simple set and forget plan. We'll be
back in just a moment. Oh wait, actually we won't
(37:18):
have time for any more cause I don't think so
we'll be back in just a moment. Ten to two
news talks. It'd be just getting close to the end
here with only a few minutes left. Tim Beverage. My
guest is Rupert Carlin from Kura Wealth, and we're talking
about dealing with windfalls. Now, Rupert, you've got a simple
thoughts that if you came into the money, what would
(37:38):
you do.
Speaker 4 (37:41):
Oh, it's pretty simple for me.
Speaker 3 (37:42):
I would set up or I'd put some money into
every single one of my niece and niece and nephews.
Can we save accounts one hundred grand each so that
they can then help them buy their first home?
Speaker 2 (37:53):
Oh, because that's tied up for them anyway, they can't
blot on anything else.
Speaker 4 (37:58):
It's like a cheap trust exactly.
Speaker 3 (38:00):
A much cheaper trust which is much easier to administer.
So I'd be putting the I'd all get some money
into the KI we save it so then in fifteen
twenty years time they can thank me for giving them
their first home deposit.
Speaker 4 (38:12):
I would because I want a batch and I love
the beach. I'd do that.
Speaker 3 (38:16):
And in the rest, I would just simply put in
a US equity fund.
Speaker 4 (38:20):
I'd go just find a US a.
Speaker 3 (38:22):
Passage tracked something by the Sec five hundred, and I
would just let it sit there. And if I've got
forty million dollars left, that's going to give me an
income for the rest of my life of forty five
million dollars a year. And that's more than enough income
that will look after me, look after my children.
Speaker 2 (38:39):
You wouldn't be tempted by I might go for a
stick a few million and a really aggressive fund, and
I might stick of it. I mean, would you succumb
to once you started thinking, would you succumb to the
You know, it's all very well shoved in the S
and P and let's face it, if you'd done that
and ten years ago, you'd be happy, you'd be very happy.
But would you do you think there'd be a part
(39:00):
of you that goes, Okay, let's look at that fund
which goes for the tech stocks maybe I need to
do this because you've got that key. We save a fund, but.
Speaker 4 (39:07):
We do a little bit of bitcoin.
Speaker 2 (39:08):
I mean, can we save that bitcoin? One feels very naughty,
but it did have that ridiculous growth.
Speaker 4 (39:15):
Look, I think you might. You might take a little
bit of a slice. So the key to investing.
Speaker 3 (39:21):
So my view is if I've got a one fall
like that, I want to use it to set me,
my family and my grandkids up forever. And the easiest
way to do that is keeping it so simple. Simplicity,
simple investing is by far and away the best investing.
Maybe yeah, okay, maybe there's a little allocation to bitcoin,
a five percent allocation of bitcoin, but what would.
Speaker 2 (39:43):
You be driving.
Speaker 4 (39:44):
I'd probably still.
Speaker 3 (39:45):
Be driving my current Fort Everest because to your point,
I don't want anyone to know what I've got.
Speaker 2 (39:49):
That is the catch. That's why I mentioned it.
Speaker 4 (39:52):
I don't want to bring you.
Speaker 2 (39:53):
I could explain it away. If I had an Aston Martin,
because I have been sponsored by them for some of
the concerts. I take the bond and I'd say, look,
I've got this great sponsorship deal. They've given me a
car for a year, and I'd make I produce lots
of Bond concerts. But in fact that.
Speaker 4 (40:09):
I thought, I've thought you've got that full story. But
it's and I think, but it's about keeping it simple, right.
Speaker 3 (40:16):
And the key where all these windfalls and where investing
goes wrong is you try and do too much. You
try and borrow a whole lot to go buy yourself
a twenty million dollar house that you can't afford to keep.
Speaker 4 (40:27):
I mean, you just keep it simple.
Speaker 2 (40:28):
In fact, we just finished renovating our house and we'd
enjoy it for a while until we found something else.
And oh, I could see you buy What is it?
It's like that. There's a song about, you know, you
buy something to dream. Maybe it's Shakespeare something per chance
to Dream or whatever. I don't know what it is.
I don't think he rated it a lot. I don't
think Shakespeare wrote a poem about a son. It about
gambling or about lots. Now it would have been a
(40:50):
cynical one, wouldn't it the dreamer's text? Yes, indeed, I
have to think about that one for a moment anyway,
he rupert. Thanks for coming in, mate, great, thank you.
If you've missed any of the hours, I recommend go
go and check them out on iHeart Radio. Look for
the week Collective thanks to my producer Tire Reward and
we'll look forward to your company again same time next
(41:10):
weekend Sunday at Sex is Next.
Speaker 9 (41:13):
Oh, I'm a.
Speaker 8 (41:14):
Bit crazy about the world is saying.
Speaker 1 (41:17):
For more from the Weekend Collective, listen live to news
Talks It Be weekends from three pm, or follow the
podcast on iHeartRadio.
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