Jude H on Today Tonight

[Jude H]

Segment with myself and my son will air Fri 6/12.

Pete, thanks for your kind words. Warning to stay away came a bit late my friend. :) Naive or what???



Last words in the promo are ..."Smart parenting or robbing him of his childhood?".



Still the good thing is that I really don't give two hoots how it is perceived. My son saw the promo and said " That's Bull***t, I'm the one that wants to do it".

Ever the optimist, maybe it will be ok. :rolleyes:

[GeeVee]

I say go go go to both of you and I am looking forward to hearing as much of "your"story as they will possibly tell us.
You would be being a bad parent if you had the knowlege and DIDNT pass it on to your kids or encourage them to be smart with their money.
Keep doing what works for both of you I say!

[Michael Croft]

Good on you Jude!! I don't watch TV (even when I'm on it) but I'll make an exception for you :)

warm regards, Michael Croft

[Jude H]

Thanks for the words Gee Vee. They actually did ask me what if 'viewerland' did not agree with what we were doing. Replied that I didn't care. My son will be retired at 30 and theirs won't be. I probably shouldn't have to explain it here but retire is not sit on your bum at 30, but freedom of choice at 30, now that's cool!!


Michael nice to hear your voice again. If they're mean will you fix them up for me?? Same payment for your last bit of help. Remember BBQ 2001? :D

[Michael Croft]

Jude consider it done ;) HOw could I forget such an intelligent and good looking woman!

MC

[Jas]

small question from a non TV person...

What channel is TT on?

Jas

[PT_Bear]

Today Tonight is on channel 7.

[metamorphosis]

When I saw the advert I thought "hmm she looks familiar, I think I saw her at one of the first IP get-togethers, I think her name is Jude..yes..Jude from the forum.."

And it is you :D

So here I am saying what an inspirational mother you are, I hope that I can so aspire to teach my 13 y/o brother !

[Lotana]

Excuse my ignorance, but what time is the show on?
Thanks,
Lotana

[manny]

Lotana,

the show is on right after the news... so starts 6.30pm (channel 7)...

Cheers,

MannyB.

[yuch.]

Jude,

Welcome back!!

You've been away too long!!

I saw it on TV last night and I knew that must be someone I know!! :D

<see you on TV tonight!!>

[Jas]

Jude,

I saw the ad while waiting on a train station today (big TV panels on Sydney city train platforms)...

Have to say, not a positive spin...

Jas

[Aceyducey]

Jude,

It was quite a good article - screened 1/2 hour late in Sydney but was very positive.

Steve navra also got a good look in.

Well done Jude, positive press like that might make some other parents start thinking about what they teach their kids :)

Cheers,

Aceyducey

[GeeVee]

Jude H,
Saw the story and Your my LATEST hero! My wife is now trying to figure out if our kids would try to live by the same financial principles.
I think that the show doesn't put you in a bad light, rather shows a responsiblity that parents have been neglecting.
Tell us more...much more.

[PT_Bear]

Good show Jude. As far as I'm concerned, you came across very well. I hope your son is an insperation to others his age.

[geoffw]

Jude,

An excellent story.Thanks for your great contribution.

For those who missed it, here's the story:

http://todaytonight.com.au/stories/406745.html

[Jude H]

Thanks to you all for your positive words.

I must admit that after seeing the promo I was quite worried about how it would be portrayed. The reporter rang me today and she assured me that it would all be in a positive light.

I am pleased that the message I wanted to get across was what I had hoped for.

It really does sound corny but when you get to a certain place in your own life, then helping others achieve their goals is very rewarding and fulfilling. Hopefully that was achieved in some small way.

OK, end of corn... now you can bag me!!!

:D

[asy]

FAntastic Jude, Andrew and Matthew...

Well done!!

I'm glad the spin doctors didn't get to the story!!

My kids watched it and Sasha said, hey mum, can I meet that boy?...

Then he said, Hey mummy, can we do that here too???

I told him he'd have to wait until he was 10...

Well done, again...

Please bring Andrew into the chat... we wanna talk to him!!

asy :D

[DaleGG]

Hey Jude!

(Sorry, just could not resist that one despite understanding that you've probably heard it a million times before)

Well done, the show made you and your son look great. My 9 year old daughter watched very closely and I guess I'll have some more questions soon.

You are an inspiration Jude and you deserve the praise. Enjoy it!

Dale

[Lissy]

I don't think anyone has posted a link yet, so here it is....
http://www.todaytonight.com.au/stories/406745.html

[geoffw]

Lissy,

I posted the link last night (post #16).

But no harm making sure everyone sees it ;-)

[bbruham]

G'day Jude,

Seems like you've mastered it!
Bought four houses in one year,got junior on the road to millionairesville.
What will you do for an encore?
You've done the lot in one whole year.
Next could be the seminar tours, "how I Made it in One Year".
I couldn't get my kids interested in investing, no matter how much
I tried.
Jude, in which suburbs are these four houses located?

Bruce G.

Winners make it happen.
Loses let it happen.

[Jude H]

Hi Bruce,

I may be being overly sensitive at 1.45 in the morning, not sure if you are serious or making fun. So I'll give you the benefit of the doubt and my sincere apologies if that was not your intention.


Seems like you've mastered it!

Anyone that thinks that about themselves needs serious help. Always something new to learn.



What will you do for an encore?

Invest with Steve Navra.



You've done the lot in one whole year.

Not true. I'm still working. :-(



Next could be the seminar tours, "how I Made it in One Year".

Not quite, but I have spoken to my sons school headmaster about the segment. He agrees that the current educational system does not offer anything along these lines so will be discussing us doing talks with the students. Possibly get the parents along as well.



I couldn't get my kids interested in investing, no matter how much
I tried.

I don't think they can be forced. You need to find a motivating force. Ours was accidental. I told Andrew about Dolf De Roos. The rest they say is history.



Jude, in which suburbs are these four houses located?

2 in Caroline Springs, 1 in Hoppers Crossing and 1 in Yarraville



Andrew is more than happy to answer any questions. Asy invited him into the chat room last night. He had a ball. Thanks everyone for being so nice to him. It reinforced 10 fold his belief in himself and what he is doing. He even got stopped when he was walking the dog tonight (yes, one of his chores!) because someone had questions about what we are doing.

Thankyou to everyone for the positive feedback, Andrew reads it all.

[asy]

Hi Jude, and Andrew (and Mathew, coz I'm sure he doesn's want to be left out!!!)

Again, congrats on what you have achieved, and Andrew, thanks for coming in to the chat room the other night, Sasha loved talking to you!!

I have a question to ask you, Jude or Andrew...

When one of you has time, would you be kind enough to post exactly what the full deal is...

what I mean is, OK, Andrew gets $100 per week, and has to buy "All his own stuff". He has to do chores, and has to invest min 30%. I understood that... but...

What exactly is he supposed to purchase himself, or more accurately, what does he not have to buy?

His food and housing are supplied?
His medical/dental needs are supplied?
School fees and books? (I seem to recal TV thingy said Andrew pays for books?)
I understood that all his recreation is paid for out of this money.

Please feel free not to answer anything which is too private :)


Just wondering, because Sasha wants to do it too, and I am trying to modify it a little because he is only 8. (I have told him that he will have to wait until he is 10 to start it, but I am thinking that we may be able to do a mini version...)

Don't forget, answer at your leisure!! and only if you don't mind :D

Thanks...

asy :D

[aam]

Hi Jude!

From what I have read (I do not own a TV), and from the comments here, congratulations!

I agree wholeheartedly with you: give your kids that head start!

I have had a similar plan as yours with my boys, but not as well developed as yours. So I had a good talk with them :)

A call to anyone out there: did anyone tape the program? I would like to view it at my sister's: her kids could do with the same sort of education!

Cheers
Apprentice Millionaire

[watto]

I missed the show as well......and would love to see it....

So to all those Melbournites heres the challenge lets see if we can send enough emails to get the segment re-aired by popular demand....


here is a link to the viewer feedback form......

http://todaytonight.com.au/contactus/29924.html

so email away and lets see if we have the power....


cheers
watto

[PT_Bear]

Hi Watto and AP,

I taped the show. I'll bring it to the next Freestylers & the Melbourne IP meetings.

[Jas]

Jude,

My congrads too. From the ad, it could go either way, but they did it well.

This all started with you trying to get hold of the daughter.

Did you manage that in the end??

Jas

[Aceyducey]

Jude,

From all the questions you're getting it sounds like you'll have to write a book about kids & investing and targeted at the reading level of 12 year olds.

If so I want two copies (though my kids will have to learn to read first!)

Cheers,

Aceyducey

[GeeVee]

My two sons have discussed the idea of Judes story. One would like to do it, but the other is a little more reticent.
Jude, what does your son pay for and what do you pay for?
A Great story, get people [us] thinking outside the square, cant be all bad!!!:D

[watto]

Thanks PT Bear,

If you can dub it onto another tape i will gladly bring a new blank tape to swap with you.

Cheers
watto

[bundy1964]

Would you belive this story just aired tonight in Adelaide. Somehow I think we are more than just 30 minutes behind the east coast...........:mad:

bundy

[Jude H]

I truly appreciate everyone's interest and will answer all

questions. However, this is the last week of school for my boys

and we have presentation nights, graduation dinners etc and

time is short. I will answer by the end of the week.

Yes, TT did keep their word and have put me in touch with

Andrea Sutton.

[manny]

Hi Jude,

first of all congratulations & well done...

I also had a couple of questions... how would his $50 a week translate to $400-$500,000 of real estate by the time he is 20? (as many financial institutions would need a paying job to lend such amounts, unless you are his guarantor?)... does that assume he still studies at 20 (at Uni) OR doing some trade?

Can u share what Steve recommends he invests in till he is 18 if not property (again due to TAX implications by being under 18)? (again lending becomes an issue)

Well done once again & thanx in advance...

Cheers,

MannyB.

[Jude H]

We provide food, housing, anything school related and medical.
Andrew provides EVERYTHING else. I think the simpler and clearer you keep it the easier it is to say who pays for what. It's amusing watching a 13 yr old compare prices and the indignation of "I'm not paying that much for that!"

Andrew has always been very keen on doing this, Mathew didn't want to. Same situation as you GeeVee. Sit down and find out why he doesn't want to. With Mathew it was because he wants to be a professional sportsman. When I pointed out that 1/2 the pubs in Richmond (little parental stretching of the truth is allowed) were owned by AFL players and that they do in fact invest heavily he has changed his mind. He keeps his dream and can become wealthy through investing. You just need to find why the reluctance in the first place. Mathew didn't think that you could do both.

We will set up a trust and Andrew will invest in Steve's Managed Fund until he buys his first property. At the moment it's in a Bonus Saver Account with BOM. Andrew will get a P/T job as soon as the law allows it, 14 yrs 9 months. (his choice!!) Savings will be quite substantial and loans will depend on where life takes him at the time.


Any other queries please feel free to ask.

[asy]

Thanks Jude!!

I have one more question for you!! (sick of them yet? hehe)

Again, please feel free not to answer, it's a kinda personal question.

Do you find that this programme has saved you money or cost you money. What I mean is, were you spending more or less than $100 on all Andrew's peripherals before you started doing this plan?

I understand that the education he is receiving is worth $100 per week!! What I am curious about is has this stemmed the fiscal bloodloss that is a teenager?

Did you find that before this plan was implemented he was costing you more because he didn't realise what things actually cost and how that related to "real money"?

just wondering.. And planning a modified version of this plan for Sasha for next year...

Sasha really wants to do it, but at 8 (well, turns 9 in Jan) i don't want him buying his own clothes quite yet... so I want to do this plan not including clothes until he hits about 13...

Let me know if you have any thoughts on how I can modify this!

thanks

asy :D

[manny]

Hi Asy,

on your topic, I was thinking about it as well... after having a listen to Dale's recent presentation in Melbourne it just clicked to me that Jude may be have a trust structure? & through the structure she can make payments to her son (being a teenager you can make income distributions) through the trust in return to some work (ie. mowing the lawns, taking out the rubish, etc...)... not a bad way of minismising tax for the parent & the money is kept in the family ;)

Note: I may be making assumptions here, but it just clicked to me on a good way to incorporate both the child education with your long term financial goals... It's something I may consider when my kids get older...

Cheers,

MannyB.

[Rixter]

A TV promo shows Jude_h story is on Today Tonight, tonight ( 12/12/02) in PERTH @ 6:30pm. HOORAY!!!!!!!......

.....but check this out for journalistic sensationalism or negativity ?? ( you decide) . The presenter for the promo states , and I quote -
" Robbing children of their childhood or is it smart parenting?"

[Jas]

[Originally posted by asy
[B]
Sasha really wants to do it, but at 8 (well, turns 9 in Jan) i don't want him buying his own clothes quite yet... so I want to do this plan not including clothes until he hits about 13...
[B]

Asy,

It's all in the implementation. I let my kids (5&3) choose their clothes - at the moment, its a choice between offers I've prechoosen, but as they grow a bit older (8/9), they'll get full choice.

Jas

[asy]

Hi Jas,

Sasha chooses most of his own clothes at the moment, but I choose the volume.

so, I decide he needs a t-shirt and a price limit and he is allowed (in most cases) to choose the shirt.

My point was, he is such a darned hoarder that if I gave him the money and said that he had to buy all his clothes, he'd still be wearing size 4... ripped at the seams...

I give him and his sister the same amount of lollies (not many, I grant you, but sometimes they get, say, a packet of lifesavers...).
Stephie will eat all of hers straight away (but she is only 6) and sasha will have one or two... Then, about a week later, he will appear with 3/4 of a packet of lifesavers, and the first I will know about it is Stephie screaming that he has lollies and she doesn't. Sometimes, but only rarely, he will share them with her, usually he gives her a talk about how she should save them... hehe...

At this stage, I didn't think it fair if I gave him the money, then told him that he HAD to buy 3 T-shirts.. see what I mean?

asy :D

[Jude H]

Hi Asy, Sasha and Steph,

Sasha I'm with you mate. If Stephie wants to eat all her lollies at the one time and have none left, well she can't very well complain when you bring yours out a week later now can she? BUT, let's not rub her nose in it and give her one ok? But only one!!

Asy our rule is that if mum says you need a new pair of shoes etc then you had better have the money in the bank to go and buy them NOW! I still have final say on all clothes bought. My children are after all boys, and teenagers at that, so some of the choices need to be modified a wee bit sometimes.

Mathew's spending habits have certainly changed in the past 6 months. He has seen first hand what Andrew is doing and achieving so it is actually rubbing off. There is hope for Steph yet!! :D

Quite honestly Asy I think that $100 is probably too much. But, then this kid chooses not to buy a lot of things. He doesn't have a wardrobe full of clothes, but the clothes that he does own are good quality. Andrew is a normal kid who does go out and have fun but it's just that he chooses not to 'blow' his money. He REALLY likes the idea of an early retirement. I don't mind rewarding him and helping him along this path :)

[asy]

Thanks Jude!!

I will report next year, and let you know how things are going...

I am thinking of teaming this programme with an ABA (Applied behaviour analysis) for Sasha to help with his Aspergers... I will have to do some sort of reward system next year, and I have two choices, to give him toys or money... I would prefer money, that way he can choose his toys...

talk to you soon!!

asy :D

[Jas]

My 5 yr old got $30 for his birthday from his great-grandmother. We put it in the bank account for about a week, and then he decided he wanted pizza for dinner.

The rule in our house is that the parents provide a dinner, and if the kids don't want it, they provide their own. So Kyle got me to call up for pizza :)

His great-grandmother wasn't best pleased when she found out what the money had been spent on...

Jas

[Jude H]

OK Jas, can't show Andrew this post. You have the power to single handedly blow his entire savings program with this one post!!!! :D

[Jas]

opps!

Jas

[Jude H]

From Andrew:


mmmmm, pizza... *walks to phone*

[asy]

FOR Andrew...


Mmmmmm Pizza now.....

OR

Grrrrrrr work till you're 65.....


your decision mate! hehehe

asy :D

[Jude H]

Damn, no pizza for me then