Vince Scully - LifeSherpa

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He was a senior member of macquarie bank's infrastructure. Team he also founded the kaleva group fan manager productivity adviser and linda which salt amok burress before it became yellow brick road before we started. I just went to ask us to actually go and say you to before bono could sing i did. I am growing up in as you mentioned. I used to spend mine misspend. My saturday afternoons at a place called standalone markets which was in his disused warehouse near the main shopping street in dublin. And they have these bands. I would play for twenty-five paints. I think was the cover charge one afternoon it was is ben called youtube nobody. Nobody was having a bar of them. They were not and bono was not not able to sing and then i saw them about six months later. Political the starts ballroom where they played support to a band called greedy bastards Which was a mixture of thin lizzy. Sex pistols in ultra vauxhall's. Cook steve jones from the sex pistols filling in brian danny from thin lizzy and mature from ultra. Vox and they had a christmas hit that year. Which i think was called greedy. Chris from memory and youtube or the support paint. And that's where the age go. He's niknam it was because he was so shy he used to stay at the side of the stage. Fantastic prehistory sorry. We're talking engine his okay but let's Let's talk about your bugbears. We had a chat beforehand to decide what we're going to talk to that. So there's your bugbears bears now. I'm vince you've identified. The listener is the problem. And i've got all sorts of problems with all this technology with podcasts. In youtube and blogs people in actually talking about money we just never talk about money and now it's becoming so commonplace and people share using forums on the internet and there are hundreds of thousands of people sharing money tips day in day out on on facebook and of course we got podcast like shades for beginnings and one of the most popular movements in that sharing of information is this thing called the fire movement. We've all heard about the fire. Well it's it's a raging fire and forest stands for independence retire early the first bit of. That's pretty hard to argue with that reaching financial independence. Easy gold at almost. Everybody should share the retire. Early bid is the bit that i think causes a bit more controversy. Looking at the whole farm movement there's a couple of variations on it but one of the big things that people talk about his extreme frugality to try and get to extreme early retirement. There's a whole bunch of myths and legends. That get shared maims. Get she at around. That which i think can often lead to poor financial comes drinking your morning. Latter is what's keeping you out of the housing market Well nothing could be further from the truth. Yeah yeah we certainly do. Spend more eating out than our predecessors previous generations. Boy actually spend less eating at home so the total proportion of income we spend on food actually hasn't changed in forty years So your morning. Coffee is not what stopping you buying. That's not smashed. Avocado as okay. Well let's get started on the first of the back bays which is investors who start with the instrument and not the outcome. We should explain what an instrument text as well. Yeah this is the lifting. You quite often see in these forums. People going well. I've got ten thousand dollars to invest. Should i buy vanguard a string. Cheese or vanguard global shifts. Or should. I buy bhp or where. It's that affect ten thousand variations on that question every day but it's sort of the wrong question a net ease. What are you trying to achieve is the real question. So if you don't know what it is that you're trying to achieve with englishman. You can't make a decision as to whether van gone astray and change will vanguard global shares will walk walkable. Whatever else you might choose to buy is going to meet your objectives. We certainly know that. The move to index funds spearheaded by jack bogut vanguard has put downward pressure own investment costs. There's never been a cheaper time to invest the now but this is not always a price game. The choice between buying the blackrock australian cheer fund and the vanguard australian cheer fund. The difference i think at the moment is about four basis points that point zero four percent of your investment which is not going to make which i think is about four hundred dollars on a million the difference in one tracks the ice x two hundred chase and the other one six three hundred shares. The difference in performance. I soon indexes will be more than the difference in price. So what should if they're thinking about Instruments rather than outcomes. Should someone start thinking about their outcomes and what i want to do with their money so the thing that i would always get it in. Potential invested to do is look at what. What are you trying to

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