936b cash out 3% super, bond yields, geared ETFs, retirement, financial advice + more (campfire chat)

Glen James (0:05)

All right, we are rolling. If you are new to the show, welcome.

These are longer form discussions, and they're pretty chill, they're pretty laid back, and we call them a campfire chat. We've got a heap of questions that people have written in, that they want us to talk about, and we just kind of chew the fat. It's not really set at a beginner level, although if you are a beginner, you are welcome to join. We've got the fire going in Queen Street, Melbourne, and we've got Owen Rask today. Howdy, partner.

Owen Rask (0:48)

Howdy, just got my hat on.

Glen James (0:50)

Welcome to the campfire chat.

Owen Rask (0:51)

They're here with you gents and everyone.

Glen James (0:53)

Regular campfire E, Vince Scully.

Vince Scully (0:57)

G'day, g'day. Good to be in Melbourne.

Glen James (1:02)

Got the marshmallows. Don't ever eat when you're doing podcasts, they say.

Vince Scully (1:05)

Yes. Don't eat the marshmallows when you're talking.

Owen Rask (1:08)

But they are pretty good.

Glen James (1:09)

I always found the psychology study with the kids and the marshmallows. A famous marshmallow study.

What's your Owen like natural vibe? Are you a bird in the hand guy or two in the bush guy?

Owen Rask (1:24)

I would be bird in the hand. As a youngster, I would have been. That's how I discovered the power of compound interest. I think that gave my rational brain just a little bit more juice, except for the right stuff will.

Glen James (1:38)

Yeah. I think I've only learned about delayed gratification in the last couple of years.

Vince Scully (1:43)

I wonder what the overnight marshmallow rate is at the moment.

Glen James (1:45)

Thanks to Ritalin. But yeah, so.

Vince Scully (1:50)

Prescription patients.

Glen James (1:51)

Yeah. Now, we, for those that are kind of into this long, for me stuff, we've got a few things that we're going to chat about. And if you are new to the show, I keep saying that we're in Owen's studio and the tech guy today is Glen James.

So what are you looking at?

Owen Rask (2:14)

Is that one recording?

Glen James (2:16)

Yep. They're all recording.

So if you are watching on YouTube, you can see it.

Vince Scully (2:21)

600 cameras.

Glen James (2:23)

Well, yeah. So yeah, thanks Owen for letting us use your buy booth.

Owen Rask (2:28)

Yeah, it's warm in here.

Glen James (2:30)

So we might even share it on your YouTube as well. But what, tell my listeners about you.

Owen Rask (2:38)

Cool. Thanks, man.

Yeah, we're based here in Melbourne, but across the country and got a financial advice business and podcasts, do a lot of education. And it's been really interesting. I don't know what you guys think. You guys are in the space too, but it's the role of AI and the interplay and all the opportunities and changes across the industry. But in short, people can come to us for predominantly for financial education. Yeah. It's still how most people interact with us through our courses or those types of things. Yeah.

Glen James (3:06)

And if you, you know, everyone knows Owen, if you've been around personal finance for 10 minutes. Vince is here from Life Sherpa, which we can get into that later. But what I want, we actually are recording this on the 7th of September. And this episode, it's actually going to go up on Thursday this week. So it's not going to be in the camp for long. I woke up today to news from a press release that needs to be explained. Please explain. If you will. So One Nation have come out and said, it's so weird we're even talking about them. It's just wild.

One Nation have come out and said, we think you should be able to take 3% of your super money if you've got a mortgage or if you're renting.

And that's their policy. And yeah, like they were like there's been chatter around this stuff about having it completely voluntary, which just doesn't work. Look at the USA. Look at any human behaviour. We'll eat the marshmallow, not save it for later. So there's that. What's your take on it, Owen?

Owen Rask (4:23)

I've only seen scattered news reports and by scattered, I mean, mostly from the Honourable Twitter or X.

But it's interesting that they would even say this, because if we look at across the pond just over to New Zealand, they effectively have a similar rate and then like they incentivise you effectively to contribute more, right? This is such an interesting thing. It's almost like we shouldn't be talking about it in many respects, but in other respects, this is how far the pendulum swung, in my opinion. In terms of what I think, I think that super should be for superannuation, which means it should be for retirement. But we keep on inventing all these things because the honeypot is just there and we can dip our political hands into it. So my take would be to leave it alone, at least for a few years, gives people a sense to get used to what we already have, let alone changing it again. I just think it's just too much change. I mean, we'll probably talk about it, but that's my general gist.