COVID19 Edition of Secrets of the Money Masters Launches
There is no doubt that Covid-19 has impacted the lives of Australians in every aspect imaginable, and new research reveals the extent of the impact it has had on people’s financial situation.
The research – commissioned by financial educator Vanessa Stoykov – found that 64% of Australians have been financially disadvantaged by the pandemic. 15% of respondents said they are genuinely scared about their monetary situation and what their future now looks like, and a further 33% stated they are seriously concerned.
Some recurring responses as to why people are concerned included, “I lost my job and with so many restrictions I’m not sure when I will be able to get back into work”, “I have budgeted the tightest I can, but the economy seems to be getting worse, so I am not sure what to do anymore” and “I can live for now, but who knows what my future will look like in a year”.
In line with these findings which show that Australians are searching for ways to financially prepare themselves for what’s to come, a new series of the award-winning program Secrets of the Money Masters (SOMM) is launching on October 22, 2020.
The show – driven by OneVue, a listed financial services technology company – will see host Vanessa Stoykov interview a range of Australians to find out how they have been financially impacted by the pandemic, and partner them with some of the world’s leading investment managers and insurers to help them through their individual financial journeys.
Vanessa Stoykov says, “This series is unique to any other – it’s edu-tainment at its core, and we filmed it quickly during the pandemic to capture the ways that Covid-19 was affecting individuals, couples, and families around the nation. The people featured in the series are experiencing a range of monetary roadblocks brought on by the pandemic, and the lessons they learn through the series will be relevant and relatable to many Australians suffering in similar ways.”
A summary of the series themes, and the case studies explored, are:
Episodes 1-3 (airing Thursday 29 October): How to live for today without costing tomorrow
Kate and Tony are a couple who thought owning an investment property was the great Australian dream. These episodes explore what can happen when you own successful investment properties, but then a pandemic hits and tenants stop paying rent and they are left with mortgage repayments they can’t afford. An expert panel featuring Vanessa Stoykov along with Orbis Investments’ Ashley Lynn and Jenny Josling discuss Kate and Tony’s financial situation, their goals and how their retirement strategy might need to be adjusted to meet long-term objectives.
Episodes 4-6 (airing Thursday 20 November): Finding returns in the new investor reality
Kate and Greg are a married couple looking for answers on how to reach their retirement goals. They have a good understanding of what they need, but are unsure about the steps they need to put in place to achieve it. In this new economic environment, especially post-COVID-19, how will they need to adapt their strategy? An expert panel featuring Vanessa Stoykov along with UBS Asset Management’s Bryce Doherty and CBRE Clarion’s Gabin Peacock discuss Kate and Greg’s retirement strategy and why the typical routes to building wealth – investing in property, term deposits and high-interest bank accounts – may not be enough to help them achieve their goals of being self-funded and leaving a nest egg for their children.
Episodes 7-9 (airing 11 December): Navigating modern family life
Nina is a professional photographer who has just sold the family home following a difficult divorce. With four children to think about and an income stream that isn’t guaranteed, what are the steps Nina needs to take to ensure she’s financially secure? An expert panel featuring Vanessa Stoykov along with Orbis Investments’ Jason Ciccolallo and AIA’s Pina Sciarrone discuss Nina’s situation and why advice is so essential at the moment, given how distracted she currently is by divorce and all that entails, including relocation and her children’s future.
Vanessa Stoykov concludes, “More than ever people are craving a sense of control and taking ownership of one’s finances can offer that. Especially with so much uncertainty around how long the Government will be able to assist, Australians really need to own their money decisions, and this series has been created to help people on their journey to financial freedom.”
For more information, please visit secretsofthemoneymasters.com
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*The research was conducted by independent third-party company. The Digital Edge. It was conducted in October 2020, and surveyed over 1,000 Australians across a range of ages, locations, and socio-economic backgrounds. Raw data can be shown on request.
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