Evan Lucas

speaker

1,534 appearances 4 recordings 1 series first heard Jun 2022 last heard Jan 2023

Evan Lucas’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Mind Over Money: be a better investor with Evan Lucas · 13 Oct 2022 podcast

My box.

So, Owen's question before about experience and how you've come to the formulation about money.

What I call my box is if you think about your own personal... Your experience with money, your relationship with money will be formed through your relationships, your parents, your partner, your work, your social interactions.

All those things go inside the box.

And when you mix them all up together...

they will bring out your personality with money.

Now, you're clearly going to have a very different point of view if you've been through the 80s and 90s recessions.

So, you talk to your parents and one of the jokes that everybody loves to do on the internet is how your parents will continue to tell you that, I remember living off 18% interest rates and I remember when inflation was through the roof and blah, blah, blah.

You've got it better.

You've got this new loan.

But the thing is, we've got lower interest rates, but the level of debt we've got is higher.

And if you actually look at it, it's exactly the same.

What I mean by that is that about 25% of your pay packet

on average in this country from the late 70s to where we are now was 25% of your pay packet is taken up by servicing your debt.

So, whether it was 18% on a loan that was only 100 grand or if it's two to now 6% because of interest rate rises on 750,000, it's actually about the same.

So, tell your mom, it's not the same.

But getting back to that, so their experiences are there, right?

So that's their experience.

For us sitting in this room, the three of us, UK particularly are young, Owen, you're younger than me and then myself, but we are under 40.

Our experiences have been incredible because we've been through just an amazing period of economic growth, an amazing period of positive impact until the last couple of years.

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