Jord It.

Jord It.

Welcome to Sheared Lunch. My name is Laighton Robertson, the co founder and co CEO at Sheass. Today I'm joined by Luke Kemmys, who was from the Next Advisory and from the podcast Keep the Change, and we're going to be speaking about the top five barriers that he hears from his listeners on growing wealth. But before we get started, here's some important information.

Welcome to Sheared Lunch. My name is Laighton Robertson, the co founder and co CEO at Sheass. Today I'm joined by Luke Kemmys, who was from the Next Advisory and from the podcast Keep the Change, and we're going to be speaking about the top five barriers that he hears from his listeners on growing wealth. But before we get started, here's some important information.

Investing involves the risk you might lose the money you start with. We recommend talking to a licensed financial advisor. We also recommend reading product disclosure documents before deciding to invest. Everything you're about to see and here is current at the time of recording.

Investing involves the risk you might lose the money you start with. We recommend talking to a licensed financial advisor. We also recommend reading product disclosure documents before deciding to invest. Everything you're about to see and here is current at the time of recording.

So we've got Luke awesome to catch up again. Luke, so thanks so much for joining us today. Look, you're a super busy guy.

So we've got Luke awesome to catch up again. Luke, so thanks so much for joining us today. Look, you're a super busy guy.

You've got to keep the change.

You've got to keep the change.

You've got boys get paid. A little bit of accounting on the side, I hear. I'd love to hear just a little bit about you and how you came to be Luke Kemmys and the views and the education that you'll bring to the world.

You've got boys get paid. A little bit of accounting on the side, I hear. I'd love to hear just a little bit about you and how you came to be Luke Kemmys and the views and the education that you'll bring to the world.

Now, yeah, nice mate.

Now, yeah, nice mate.

Yeah, accounting is my day job as such, nine to five and I got into the industry. I liked business at university. I think I did my first sort of introduction to shares when I was sixth form via an economics teacher who taught us about buying a share and then we're going to track it over the school term and stuff. So I think that's what intrigued me about investing.

Yeah, accounting is my day job as such, nine to five and I got into the industry. I liked business at university. I think I did my first sort of introduction to shares when I was sixth form via an economics teacher who taught us about buying a share and then we're going to track it over the school term and stuff. So I think that's what intrigued me about investing.

Did you actually buy a share?

Did you actually buy a share?

Not physically. I think we did some sort of website you could go to. I think maybe even like the Zidex had some sort of like dummy type thing that you could log in to learn from, but I can't remember. I feel like I might have purchased infotel or something like that, but that would have done it right, yeah, if I held it. But we'll get to that, mate, But that probably yeah led to me believing that maybe investing was a bit like gambling, where you kind of put it in and the hope you get it out in the coming weeks, but it's not necessarily how it works. And I've had a couple of those lessons throughout my life too. But yeah, so chart to account it now. I have my own accounting practice, And then often I would go home to my parents and talk about money in finance, and we'll come back to sort of this conversation around how we have a lack of financial education in New Zealand. And so they were sort of saying, one day, why don't you do something about it? You know, I stopped talking about it. So I started writing a money mail, which is basically a Friday email to go out to help people understand more about money and texts and some of the things that I was seeing in my day job. And that then started to grow, and I knew that podcasting was probably the platform that was sort of in vogue and what people really want.

Not physically. I think we did some sort of website you could go to. I think maybe even like the Zidex had some sort of like dummy type thing that you could log in to learn from, but I can't remember. I feel like I might have purchased infotel or something like that, but that would have done it right, yeah, if I held it. But we'll get to that, mate, But that probably yeah led to me believing that maybe investing was a bit like gambling, where you kind of put it in and the hope you get it out in the coming weeks, but it's not necessarily how it works. And I've had a couple of those lessons throughout my life too. But yeah, so chart to account it now. I have my own accounting practice, And then often I would go home to my parents and talk about money in finance, and we'll come back to sort of this conversation around how we have a lack of financial education in New Zealand. And so they were sort of saying, one day, why don't you do something about it? You know, I stopped talking about it. So I started writing a money mail, which is basically a Friday email to go out to help people understand more about money and texts and some of the things that I was seeing in my day job. And that then started to grow, and I knew that podcasting was probably the platform that was sort of in vogue and what people really want.

To consume on.

To consume on.

So I started doing podcasts with an audio version and that's growing and turned into Keep the Change Today that a lot of people listen to, but people read as well. And then the social content that wraps around, you know, everything we do in life these days, whether it's growing a business or trying to get information in front of people. So yeah, I'm into year five of Keep the Change Now and I'm into year eight of Next Advisory.

So I started doing podcasts with an audio version and that's growing and turned into Keep the Change Today that a lot of people listen to, but people read as well. And then the social content that wraps around, you know, everything we do in life these days, whether it's growing a business or trying to get information in front of people. So yeah, I'm into year five of Keep the Change Now and I'm into year eight of Next Advisory.

Wow eight years, right, So let's you're right into it. Congratulations. I tell the team around she is his often. Actually, it's that your podcasts and your type of education is one that I personally resonate with a lot. So I'm I'm I've been excited to have this conversation, and you're super passionate about financial literacy. And it's obviously something that we believe in shares Is and we invest in heavily as well. It's absolutely critical to our business model. But what I'd like to know is, like, of the top five barriers that stop people from creating wealth, what are they for you?

Wow eight years, right, So let's you're right into it. Congratulations. I tell the team around she is his often. Actually, it's that your podcasts and your type of education is one that I personally resonate with a lot. So I'm I'm I've been excited to have this conversation, and you're super passionate about financial literacy. And it's obviously something that we believe in shares Is and we invest in heavily as well. It's absolutely critical to our business model. But what I'd like to know is, like, of the top five barriers that stop people from creating wealth, what are they for you?

And you know, give us the first one, all right?

And you know, give us the first one, all right?

So I was trying to sort of distill it into some of the common themes that I see, and I think you know one of them is that people, to start with, you know, don't have goals. And as much as I said before, invest for options people when they'll ask me money questions, which I'm not going to answer because I'm not a financial advisor, but I'm like, why don't you just take action that's going to get you closer to your goals? And so many times people won't respond, or that you can tell that they haven't actually thought about why they're doing what they need to be doing, or you know, what it is that they need to be doing, because they don't really know where they're going, and they've just been drifting. But I see it in business as well, and it's often why people come to us because they're trying to figure out where is it that they're trying to go and what is it that they're trying to achieve. And it's actually a really exciting exercise to do is figure out, Okay, you know, what are these things and it could be having a child, for instance, So then your goals are going to be Okay, well let's get ourselves ready for that. What are we going to need to buy? You know, what are those things going to cost? And all that sort of stuff. And then okay, well we set up an investment account for them. Do we agree with that as a couple, or do we want to make it hard for them or whatever? And you start to then get to have more of those conversations and then direct your money or your investments towards that. So I think to start with, you know, not knowing yourself or your goals. If you don't do that work, then it makes it tricky to kind of get on the right train and actually get moving in the right direction.

So I was trying to sort of distill it into some of the common themes that I see, and I think you know one of them is that people, to start with, you know, don't have goals. And as much as I said before, invest for options people when they'll ask me money questions, which I'm not going to answer because I'm not a financial advisor, but I'm like, why don't you just take action that's going to get you closer to your goals? And so many times people won't respond, or that you can tell that they haven't actually thought about why they're doing what they need to be doing, or you know, what it is that they need to be doing, because they don't really know where they're going, and they've just been drifting. But I see it in business as well, and it's often why people come to us because they're trying to figure out where is it that they're trying to go and what is it that they're trying to achieve. And it's actually a really exciting exercise to do is figure out, Okay, you know, what are these things and it could be having a child, for instance, So then your goals are going to be Okay, well let's get ourselves ready for that. What are we going to need to buy? You know, what are those things going to cost? And all that sort of stuff. And then okay, well we set up an investment account for them. Do we agree with that as a couple, or do we want to make it hard for them or whatever? And you start to then get to have more of those conversations and then direct your money or your investments towards that. So I think to start with, you know, not knowing yourself or your goals. If you don't do that work, then it makes it tricky to kind of get on the right train and actually get moving in the right direction.

I see a lot of that, and this was something I've always struggled with in business, and it surprises a lot of people given my background now, But I've always struggled with goals setting. But what I haven't struggle with is the idea that I will have goals and things I want to do in the future, which is something you touched on earlier around flexibility. So my early investing I started this investment club when I was seventeen, was purely because I knew that at some point in the future I would want to have money.

I see a lot of that, and this was something I've always struggled with in business, and it surprises a lot of people given my background now, But I've always struggled with goals setting. But what I haven't struggle with is the idea that I will have goals and things I want to do in the future, which is something you touched on earlier around flexibility. So my early investing I started this investment club when I was seventeen, was purely because I knew that at some point in the future I would want to have money.

Available, and I don't think I had any idea on what that was for.

Available, and I don't think I had any idea on what that was for.

But like, I think you can overstress, can't you like the specifics of that sometimes, Like it's fine not to know necessarily that you want, but you should also be aware that you probably will want something.

But like, I think you can overstress, can't you like the specifics of that sometimes, Like it's fine not to know necessarily that you want, but you should also be aware that you probably will want something.

Yeah, yeah, I mean, like I paid eleven bucks in an uber to get down here for this, But years ago I would never have paid that because I'd be like, oh, you know, want to waste the money. I could just walk down and all that sort of stuff, But I needed to use the time, and I needed to take a phone call, and I needed to do like a little bit of prep for some other things that I've got coming up. So I look at it differently, and I think, actually that twelve dollars uber is an investment into myself because I can now get that time back rather than getting on a scooter and going down Queen Street and potentially bumping into someone or dropping my phone or getting to the endpoint and still being stressed. So you know, once you're a little bit clear around, you know what you're doing, why you're doing these things, and then what you need money for, it then makes it actually a little bit easier to deploy that. But if you know, if you told me at one stage or you'll pay twelve bucks to go and an uber to do that, I would be like, there's no way that I'm going to spend that.

Yeah, yeah, I mean, like I paid eleven bucks in an uber to get down here for this, But years ago I would never have paid that because I'd be like, oh, you know, want to waste the money. I could just walk down and all that sort of stuff, But I needed to use the time, and I needed to take a phone call, and I needed to do like a little bit of prep for some other things that I've got coming up. So I look at it differently, and I think, actually that twelve dollars uber is an investment into myself because I can now get that time back rather than getting on a scooter and going down Queen Street and potentially bumping into someone or dropping my phone or getting to the endpoint and still being stressed. So you know, once you're a little bit clear around, you know what you're doing, why you're doing these things, and then what you need money for, it then makes it actually a little bit easier to deploy that. But if you know, if you told me at one stage or you'll pay twelve bucks to go and an uber to do that, I would be like, there's no way that I'm going to spend that.

What a waste of money. Now I see it as an investment into my goals.

What a waste of money. Now I see it as an investment into my goals.

Yeah, that's another good example of where I think people if they're doing that on behalf of the business, get that that's good use of money. Yeah, but on behalf themselves is a bit harder. That's a fantastic first one. What about the second?

Yeah, that's another good example of where I think people if they're doing that on behalf of the business, get that that's good use of money. Yeah, but on behalf themselves is a bit harder. That's a fantastic first one. What about the second?

I think just not getting started at all and sort of being stuck at that, Oh maybe next year or I'll wait toill have cleared my credit card, or like there's always something that's going to get in the way. And I think if we don't just get started, then we don't give ourselves the opportunity to get closer to an ability to build a habit doing some of these things. Or it could be you know, someone said to me recently, I'm a student, so I don't have any money to invest. I'm like, well, mate, like dollar, you know, invest five dollars just to learn the process, just to get closer to it, to get around the right information, to understand what information they need to figure out what would you put it into? Because if you always believe you don't have enough money, like when do you sit down and have the conversation with yourself and go, oh, I've got a lot of money. Now all start investing. Because then what I see people do is they let's say inherent money or they get a bit of money and they're like, right, I'm going to start investing, But what do I do? So you probably could have learned what to do in the meantime, or you know, now they've got to go through the fear mode of oh, I'm too scared to invest. Should I Is it a good idea, but if they had maybe educated themselves along that journey, then it might be easier once they get to that point of having the money.

I think just not getting started at all and sort of being stuck at that, Oh maybe next year or I'll wait toill have cleared my credit card, or like there's always something that's going to get in the way. And I think if we don't just get started, then we don't give ourselves the opportunity to get closer to an ability to build a habit doing some of these things. Or it could be you know, someone said to me recently, I'm a student, so I don't have any money to invest. I'm like, well, mate, like dollar, you know, invest five dollars just to learn the process, just to get closer to it, to get around the right information, to understand what information they need to figure out what would you put it into? Because if you always believe you don't have enough money, like when do you sit down and have the conversation with yourself and go, oh, I've got a lot of money. Now all start investing. Because then what I see people do is they let's say inherent money or they get a bit of money and they're like, right, I'm going to start investing, But what do I do? So you probably could have learned what to do in the meantime, or you know, now they've got to go through the fear mode of oh, I'm too scared to invest. Should I Is it a good idea, but if they had maybe educated themselves along that journey, then it might be easier once they get to that point of having the money.

One of the quotes I like to give anyone it shares is or listen to me. But the exponential part of the time folly of money equation, which for those who don't know that equation, it's worth a google. But it's basically just explaining compound interest. But literally the exponential or to the power of is time, and time is the most influential thing that you can do with your money. So I ran this interesting test. We've got kids accounts for a while. We we have kids, so it was very important to us that we gave them that opportunity. But what we started doing was we put five dollars a week away into our kids accounts because the maths I did was that that would mean they never had to worry about retirement if they and hopefully I'll be able to convince them to do it as well once they turn eighteen or whatever age you hand the portfolio, but not inflation adjust at all, just literally, in real terms, five dollars until they are sixty five, and they won't need anything else in their life for retirement, so just really trying to teach those habits over time.

One of the quotes I like to give anyone it shares is or listen to me. But the exponential part of the time folly of money equation, which for those who don't know that equation, it's worth a google. But it's basically just explaining compound interest. But literally the exponential or to the power of is time, and time is the most influential thing that you can do with your money. So I ran this interesting test. We've got kids accounts for a while. We we have kids, so it was very important to us that we gave them that opportunity. But what we started doing was we put five dollars a week away into our kids accounts because the maths I did was that that would mean they never had to worry about retirement if they and hopefully I'll be able to convince them to do it as well once they turn eighteen or whatever age you hand the portfolio, but not inflation adjust at all, just literally, in real terms, five dollars until they are sixty five, and they won't need anything else in their life for retirement, so just really trying to teach those habits over time.

Yeah, I started investing for my nephew because I don't have kids yet, and I thought, Okay, I'm going to build a fund so that as he gets older, I can start teaching him around investing and there may be you know what he could put some money into, or maybe some different options around schooling or starting a business or you know, like whatever it could be.

Yeah, I started investing for my nephew because I don't have kids yet, and I thought, Okay, I'm going to build a fund so that as he gets older, I can start teaching him around investing and there may be you know what he could put some money into, or maybe some different options around schooling or starting a business or you know, like whatever it could be.

That's that's an awesome secument. What about the third.

That's that's an awesome secument. What about the third.

I've said here, like aiming for perfect? So I kind of get the messages of hey, what's the best platform to use? I'm like, just one that's going to get you in the game? Oh, which one is it?

I've said here, like aiming for perfect? So I kind of get the messages of hey, what's the best platform to use? I'm like, just one that's going to get you in the game? Oh, which one is it?

Like, I don't know, Like I don't go around studying the best.

Like, I don't know, Like I don't go around studying the best.

I've never been one of those people, so I don't get the whole sort of the perfect or what's the perfect time or that the.

I've never been one of those people, so I don't get the whole sort of the perfect or what's the perfect time or that the.

Best platform and all that stuff.

Best platform and all that stuff.

And I kind of joke about it, you know, and I say, oh, look, well I'm going to get rid of the internet at my at my apartment now because you know, until I know what the best internet provider is, I just don't think there's any point in me having the internet? You know you, what are you doing? Your dickhead, Like that's ridiculous. But when it's investing, I don't think it's actually what people are saying. I think they're saying, Look, I'm pretty scared to do this, so I'm going to wait for.

And I kind of joke about it, you know, and I say, oh, look, well I'm going to get rid of the internet at my at my apartment now because you know, until I know what the best internet provider is, I just don't think there's any point in me having the internet? You know you, what are you doing? Your dickhead, Like that's ridiculous. But when it's investing, I don't think it's actually what people are saying. I think they're saying, Look, I'm pretty scared to do this, so I'm going to wait for.

The perfect time, the best platform.

The perfect time, the best platform.

I'm going to research you know what about their fees and like all of this stuff, and that's look, it's all important stuff to look into. But I kind of think, what wouldn't you get started first? And like, wouldn't you get the internet provider first? And someone comes around and goes, oh, you have them for the internet? Do you know you can actually switch easy and that one's a lot cheaper. Oh okay, but like, at least you've got the internet, you've got the Wi Fi going, you've got access to learning. But I think when you get yourself stuck at that kind of I need everything to be perfect, it's a really tough place to live because what happens if you got the perfect platform and the perfect time to invest, and then you know it just it changes. And you know this timing for me has always been something that I've kind of had to cop because you know, I made some really poor financial decisions throughout my life when you know, I should have known better, and I could have invested into zero, I could have invested in more into a two milk. And I've got all these stories that I share and keep the change and stuff. But then I finally start getting myself financially sweet again, and I'm like, right, mate, you know the next step is to is to start investing. So Bang deploys some capital into the market, and it's like, you know, three months before the pandemic starts. I'm like, of course it is, you know, seriously, But I'm like, well, I just have to go through it, you know. But you're never going to perfect it. You're never going to time it. But I think when you get stuck in the analysis paralysis or waiting for the perfect time or the perfect platform, you just have to have a chat with yourself and go how realistic is this and how long is it going to hold me back from moving forward in my life?

I'm going to research you know what about their fees and like all of this stuff, and that's look, it's all important stuff to look into. But I kind of think, what wouldn't you get started first? And like, wouldn't you get the internet provider first? And someone comes around and goes, oh, you have them for the internet? Do you know you can actually switch easy and that one's a lot cheaper. Oh okay, but like, at least you've got the internet, you've got the Wi Fi going, you've got access to learning. But I think when you get yourself stuck at that kind of I need everything to be perfect, it's a really tough place to live because what happens if you got the perfect platform and the perfect time to invest, and then you know it just it changes. And you know this timing for me has always been something that I've kind of had to cop because you know, I made some really poor financial decisions throughout my life when you know, I should have known better, and I could have invested into zero, I could have invested in more into a two milk. And I've got all these stories that I share and keep the change and stuff. But then I finally start getting myself financially sweet again, and I'm like, right, mate, you know the next step is to is to start investing. So Bang deploys some capital into the market, and it's like, you know, three months before the pandemic starts. I'm like, of course it is, you know, seriously, But I'm like, well, I just have to go through it, you know. But you're never going to perfect it. You're never going to time it. But I think when you get stuck in the analysis paralysis or waiting for the perfect time or the perfect platform, you just have to have a chat with yourself and go how realistic is this and how long is it going to hold me back from moving forward in my life?

And then there's like a second confidence thing on this getting started, which is something I hear a huge amount, including from some of the people who work at Cheesy sometimes, which is like, oh, I'll ask about investing, like do you invest, And I'm very proud that most people now say yes, I do. Like that's an epic change I think over the last sort of eight years or so. But after that, though, like, but I don't really know what I'm doing. I just put some money in every week into these funds and I ort to invest it. I'm just like, you know exactly what you're doing, Like, there is actually a great strategy and it's the one you've chosen. And I'm like, I'm excited for that next bit of ownership, which is not only have people got past this getting started hurdle, they're also in the confidence part of like, yes, I'm an in vesta and yes I know what I'm doing. I dollar cost average and I do that every week and it's the way that my money works best for me. So that's another epic one. Watch one way up to here are we up to number four?

And then there's like a second confidence thing on this getting started, which is something I hear a huge amount, including from some of the people who work at Cheesy sometimes, which is like, oh, I'll ask about investing, like do you invest, And I'm very proud that most people now say yes, I do. Like that's an epic change I think over the last sort of eight years or so. But after that, though, like, but I don't really know what I'm doing. I just put some money in every week into these funds and I ort to invest it. I'm just like, you know exactly what you're doing, Like, there is actually a great strategy and it's the one you've chosen. And I'm like, I'm excited for that next bit of ownership, which is not only have people got past this getting started hurdle, they're also in the confidence part of like, yes, I'm an in vesta and yes I know what I'm doing. I dollar cost average and I do that every week and it's the way that my money works best for me. So that's another epic one. Watch one way up to here are we up to number four?

Four?

Four?

Yeah?

Yeah?

So this one, I guess it's kind of analysis paralys paralysis slash noise and it kind of combines with that through one I think. But then I bump into these people that like know everything, and I'm like, wow, this person is so educated and like, how the hell do they know all this information? And then I'll ask them, Okay, so what are you doing of this information?

So this one, I guess it's kind of analysis paralys paralysis slash noise and it kind of combines with that through one I think. But then I bump into these people that like know everything, and I'm like, wow, this person is so educated and like, how the hell do they know all this information? And then I'll ask them, Okay, so what are you doing of this information?

Ah?

Ah?

No, nothing, Well what's the point of having you know all of this information? So I think some people go and collect all the data and they do analyze all of the platforms and all the different options and the different funds, and there's this one hedged against the dollar and this one backed by gold, and like all of this stuff, and they know it all, but they still haven't taken any action. You kind of think, what, like, why have you made your life so hard? So I think, you know, sometimes those sorts of people they gravitate towards having everything before getting started. But again, it doesn't mean that they may make the right decisions because they still can't bring themselves to letting go of the cash.

No, nothing, Well what's the point of having you know all of this information? So I think some people go and collect all the data and they do analyze all of the platforms and all the different options and the different funds, and there's this one hedged against the dollar and this one backed by gold, and like all of this stuff, and they know it all, but they still haven't taken any action. You kind of think, what, like, why have you made your life so hard? So I think, you know, sometimes those sorts of people they gravitate towards having everything before getting started. But again, it doesn't mean that they may make the right decisions because they still can't bring themselves to letting go of the cash.

To repeat the four we've got so far as I written down, So no goals or not knowing yourself and then not getting started or thinking it won't make a difference if you do aiming for perfect and then analysis paralysis, so overthinking it and doing too much work, but also not getting started.

To repeat the four we've got so far as I written down, So no goals or not knowing yourself and then not getting started or thinking it won't make a difference if you do aiming for perfect and then analysis paralysis, so overthinking it and doing too much work, but also not getting started.

So what's the fifth?

So what's the fifth?

I think the fifth is, you know, fear of losing money, and I think if we're realistic, for a lot of us, we're scared, right, we are really freaking out that our money is going to go backwards. And we are the people who got it wrong, who timed it wrong, who you know, have to tell people that my investments have gone backwards.

I think the fifth is, you know, fear of losing money, and I think if we're realistic, for a lot of us, we're scared, right, we are really freaking out that our money is going to go backwards. And we are the people who got it wrong, who timed it wrong, who you know, have to tell people that my investments have gone backwards.

And like you say, people are probably.

And like you say, people are probably.

Logging into their accounts and seeing that, and it's I think I've read somewhere that you know, your human sees the negative and it feels way worse than the positive. Right, So if we're down ten percent, that's going to be magnified compared to if we're up ten percent. So we're probably going to be logging back in the next day like, oh we're down to eleven.

Logging into their accounts and seeing that, and it's I think I've read somewhere that you know, your human sees the negative and it feels way worse than the positive. Right, So if we're down ten percent, that's going to be magnified compared to if we're up ten percent. So we're probably going to be logging back in the next day like, oh we're down to eleven.

But you know, does it really matter?

But you know, does it really matter?

And if you're keeping yourself in the market, time in the market, and you're not trying to time it, then you're going to have to accept that there will be ups and downs, just like me buying just before we go into a pandemic. And you know, I've got countless stories about it. But you know, to think that you're gonna ever invest or to get away with spending money in your life and not get something go wrong, it's probably a little bit silly, and I think what's hard And you know, what's something I was going to touch on earlier for you guys, mate, is that you're competing in a world of consumerism with so many people can make sense of the best credit card, the best buy now, pay later, you know, all of that stuff, and you know, wait till this month to get this deal, and what this place has got a better deal, and like we can figure all that out, but as soon as it comes and we're going to get some thing in return quickly that we probably won't even have by the next year and it might end up in the bin or we don't use it, and the dopamine rushes is let go. But when it comes to investing, it's like, oh should I do that?

And if you're keeping yourself in the market, time in the market, and you're not trying to time it, then you're going to have to accept that there will be ups and downs, just like me buying just before we go into a pandemic. And you know, I've got countless stories about it. But you know, to think that you're gonna ever invest or to get away with spending money in your life and not get something go wrong, it's probably a little bit silly, and I think what's hard And you know, what's something I was going to touch on earlier for you guys, mate, is that you're competing in a world of consumerism with so many people can make sense of the best credit card, the best buy now, pay later, you know, all of that stuff, and you know, wait till this month to get this deal, and what this place has got a better deal, and like we can figure all that out, but as soon as it comes and we're going to get some thing in return quickly that we probably won't even have by the next year and it might end up in the bin or we don't use it, and the dopamine rushes is let go. But when it comes to investing, it's like, oh should I do that?

Is that a good idea?

Is that a good idea?

When really you know there's a chance that that's actually going to turn into something in the future.

When really you know there's a chance that that's actually going to turn into something in the future.

One of the examples we often use it shares is like New Zealanders love investment property. If we can move the knowledge that we have from there, which is now inherent I think as a country, into capital or equities in capital markets, then that could serve us very well and what I mean by that is like, if someone buys a house first, there's no little ticker on the letterbox that says, hey, you're up one percent today and down one percent or anything, So you don't arrive at it every day thinking you need to check what that is, or if you do check on one of the websites. It doesn't really emotionally affect you because you know that a sealer or a buyer has to want a certain price.

One of the examples we often use it shares is like New Zealanders love investment property. If we can move the knowledge that we have from there, which is now inherent I think as a country, into capital or equities in capital markets, then that could serve us very well and what I mean by that is like, if someone buys a house first, there's no little ticker on the letterbox that says, hey, you're up one percent today and down one percent or anything, So you don't arrive at it every day thinking you need to check what that is, or if you do check on one of the websites. It doesn't really emotionally affect you because you know that a sealer or a buyer has to want a certain price.

You know that if you sell it tomorrow.

You know that if you sell it tomorrow.

You'll probably lose money on real estate fees and all of these other things, and you know if you hold it for a long time, you'll probably do very well out of it.

You'll probably lose money on real estate fees and all of these other things, and you know if you hold it for a long time, you'll probably do very well out of it.

So, like, I think we can.

So, like, I think we can.

Just take those lessons because it's exactly the same in companies, and ultimately, we live in a world.

Just take those lessons because it's exactly the same in companies, and ultimately, we live in a world.

Where growth is required.

Where growth is required.

It's baked into our system a certain amount of inflation, and to achieve that we need to do certain things. And companies, Like, one of my favorite things to remind people is that companies pay the mortgage.

It's baked into our system a certain amount of inflation, and to achieve that we need to do certain things. And companies, Like, one of my favorite things to remind people is that companies pay the mortgage.

The mortgage doesn't pay the company.

The mortgage doesn't pay the company.

So like, the more we can get into that in that mindset, then like, at the end of the day, if the market as a whole is not worth anything into the future, then money is not a thing as we know it now, so it doesn't matter, you know it. Actually it's engineered to perform the.

So like, the more we can get into that in that mindset, then like, at the end of the day, if the market as a whole is not worth anything into the future, then money is not a thing as we know it now, so it doesn't matter, you know it. Actually it's engineered to perform the.

Like very quickly on that, you know.

Like very quickly on that, you know.

I think that was one of the unlocks for me as I started building up enough money that I got a return on it, and I had this realization of, well, this company's paid for my gym membership, and then I started to go deeper. O. Okay, if I continue to invest, and if I continue to get returns, whether it be dividends or some forms of income, those investments, they're going to subsidize my rent. So then do I care so much about this whole? Like you're posing someone else's mortgage. And that's just how I made sense of it. And I know, you know, saying that people are going to derail this whole podcast because now they have to get triable about whether they love properly or not. Chill out, you know, like everyone's finding their own path and we're so defensive around our strategies. But you know, when you start to see a return from your investments and even have you know, some of your life costs subsidized, it really does unlock a different way to look at investing.

I think that was one of the unlocks for me as I started building up enough money that I got a return on it, and I had this realization of, well, this company's paid for my gym membership, and then I started to go deeper. O. Okay, if I continue to invest, and if I continue to get returns, whether it be dividends or some forms of income, those investments, they're going to subsidize my rent. So then do I care so much about this whole? Like you're posing someone else's mortgage. And that's just how I made sense of it. And I know, you know, saying that people are going to derail this whole podcast because now they have to get triable about whether they love properly or not. Chill out, you know, like everyone's finding their own path and we're so defensive around our strategies. But you know, when you start to see a return from your investments and even have you know, some of your life costs subsidized, it really does unlock a different way to look at investing.

I've never thought about that way of thinking. I will have to have a look.

I've never thought about that way of thinking. I will have to have a look.

I love these ideas and where you're like, you know, you're training yourself to be motivated into something. I haven't thought about what's paying my membership or what I might have to try to find a nice gym company or health company or something's doing that.

I love these ideas and where you're like, you know, you're training yourself to be motivated into something. I haven't thought about what's paying my membership or what I might have to try to find a nice gym company or health company or something's doing that.

It's a great idea.

It's a great idea.

Anyway, those are five awesome tips and I think you know, huge alignment on those. I will ask you one more question, how do you think the Warriors go next season without Shawn Johnson?

Anyway, those are five awesome tips and I think you know, huge alignment on those. I will ask you one more question, how do you think the Warriors go next season without Shawn Johnson?

What a shame, mate, What a guy?

What a shame, mate, What a guy?

Like, what a you know, what an investment he's made to the club and to rugby league in this country. And you know, it's another good example of how now it's easy to look back and be like, what a difference he made. So yeah, shout out to Seawn Janson out there. But anyway, mate, top four for sure, top four is surely surely.

Like, what a you know, what an investment he's made to the club and to rugby league in this country. And you know, it's another good example of how now it's easy to look back and be like, what a difference he made. So yeah, shout out to Seawn Janson out there. But anyway, mate, top four for sure, top four is surely surely.

I know I will make the trip to Australia. I can make the Grand Final. That's one of the one of the things I will splo john That's one of those future.

I know I will make the trip to Australia. I can make the Grand Final. That's one of the one of the things I will splo john That's one of those future.

Goals that I'm preparing for one day.

Goals that I'm preparing for one day.

It's a great I've been to the Warrior's Grand Final Action. I've been to the last couple as well. It's an amazing experience.

It's a great I've been to the Warrior's Grand Final Action. I've been to the last couple as well. It's an amazing experience.

All right.

All right.

Well, thanks so much for joining us, Luke, and thanks everyone for tuning in. You can watch Shared Lunch on YouTube, or follow the podcast on Apple, Spotify, or wherever you get your podcasts. Leave us a rating and a comment about what you'd like to hear about next, and enjoy the rest of your week.

Well, thanks so much for joining us, Luke, and thanks everyone for tuning in. You can watch Shared Lunch on YouTube, or follow the podcast on Apple, Spotify, or wherever you get your podcasts. Leave us a rating and a comment about what you'd like to hear about next, and enjoy the rest of your week.