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