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Speaker 1: Welcome back to Sugarmuma's Fireplay. I am your host financial planner,

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Speaker 1: Canna Campbell, and as always, I'm here every Monday morning

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Speaker 1: at five am and every Friday morning at five am,

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Speaker 1: and I'm here to help kickstart and close your week

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Speaker 1: with powerful conversations around money and investing. And these conversations

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Speaker 1: are designed to help spark inspiration, ignite essential action in

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Speaker 1: your day, and of course fire up your financial confidence

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Speaker 1: when it comes to your own financial goals and dreams. Now, today,

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Speaker 1: I am very excited because this is a topic that

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Speaker 1: I had burning in my mind for months, and it's

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Speaker 1: a conversation that has been really bubbling away inside of

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Speaker 1: my head for far too long. So I am thrilled

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Speaker 1: to be finally sitting down recording this and sharing this

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Speaker 1: with you. And it's all about AI, artificial intelligence and

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Speaker 1: how it's changing not only the way that we work,

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Speaker 1: but also how we are actually building wealth. You see,

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Speaker 1: everywhere we look right now, headlines are shouting at us

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Speaker 1: that AI is coming for our jobs. Whether you work

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Speaker 1: in law, medicine, transport, teaching, or even creative fields. AI

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Speaker 1: is completely reshaping industries. Looks like and feels like lightning

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Speaker 1: speed it's rewriting job descriptions, it is automating tasks and yes,

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Speaker 1: replacing some roles, even those ones that we thought were

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Speaker 1: safe and secure. And even in my own profession, financial planning,

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Speaker 1: I've felt it. I've seen people turning to tools like

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Speaker 1: chat GPT to create what they believe our financial plans.

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Speaker 1: Sure these plans may be dangerously misleading, and they may

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Speaker 1: not even be accurate or compliant, but it still changes

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Speaker 1: how people are seeking advice today. Which is why, instead

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Speaker 1: of fighting AI or fearing AI, or getting panic or

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Speaker 1: frozen with fear, I've decided to completely embrace AI, to

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Speaker 1: understand it, to learn from it, and to use it

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Speaker 1: to my advantage, my financial advantage, particularly when it comes

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Speaker 1: to my own fire goals and my wealth journey. Because

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Speaker 1: here's the thing. Yes, AI may change how we earn

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Speaker 1: our money, but it can also help us build wealth smarter, faster,

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Speaker 1: and even more efficiently, but only if we know how

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Speaker 1: to use AI and apply that information given to us

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Speaker 1: by AI wisely. So, in today's episode of Sugar Mama's Fireplay,

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Speaker 1: which is proudly supported by Moomoom, We're going to completely

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Speaker 1: flip the story. We're going to reframe things and look

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Speaker 1: at things from a fresh perspective. When it comes to AI,

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Speaker 1: we're going to see that AI is not something that

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Speaker 1: we need to fear, but something can actually help us

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Speaker 1: retire rich and perhaps retire richer and maybe even earlier,

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Speaker 1: by giving us access to the kind of data, the

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Speaker 1: insights and tools that used to only be available to professionals. Now,

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Speaker 1: as always, I'm going to be sharing a lot about products.

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Speaker 1: I'm going to be talking about my own personal investment strategy,

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Speaker 1: So I need to remind you that before we begin,

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Speaker 1: everything I share is general information only. It is not

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Speaker 1: financial advice. It is not product advice, it is not

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Speaker 1: even strategic advice. So please always consider your own circumstances

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Speaker 1: and speak to a licensed financial planner before making any

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Speaker 1: major decisions. All right, let us begin. First of all,

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Speaker 1: let's talk about the elephant in the room, the fear

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Speaker 1: around AI, the worry, the uncertainty, that uncomfortable feeling within

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Speaker 1: our stomach. AI is reshaping industries faster than most of

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Speaker 1: us expected. Yes, some jobs will evolve and others sadly

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Speaker 1: will disappear. And of course there are going to be

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Speaker 1: new roles and jobs created, But for so many people

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Speaker 1: that uncertainty feels deeply uncomfortable and confronting. Now, have you

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Speaker 1: ever caught yourself thinking what if my role becomes redundant

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Speaker 1: because of AI? You are not alone. I hear this

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Speaker 1: all the time from clients, from colleagues, from friends, and

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Speaker 1: I have wanted this myself many a time. But the

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Speaker 1: truth is, relying on our wages has always been risky.

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Speaker 1: We've seen companies restructure, We've seen companies downsides. We've even

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Speaker 1: seen companies close their doors indefinitely. You know, economies go

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Speaker 1: through tough times and whole industries can become of ste

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Speaker 1: AI is simply the newest layer of uncertainty in our

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Speaker 1: modern economy. And that's exactly why building other income streams,

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Speaker 1: income streams that don't actually rely on our employer or

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Speaker 1: our ability to shop for work has never been more important.

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Speaker 1: So when you look at AI like this, you can

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Speaker 1: see that this is not about panicking, but it's actually

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Speaker 1: about being proactive, acting on the warning signs that we're

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Speaker 1: seeing right now. It's about creating money, and most importantly,

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Speaker 1: creating the income the works for you, growing that income

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Speaker 1: each year and watching it grow organically even whilst you

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Speaker 1: sleep at night. Because when you start investing, or you

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Speaker 1: maybe even honeing on your existing investment strategy, taking it

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Speaker 1: more seriously, putting in more effort, greater care, and I

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Speaker 1: guess a more fixated level of determination. Perhaps you start

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Speaker 1: to build those additional income streams, income streams that come

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Speaker 1: from assets, not your own physical effort. Yes, this is

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Speaker 1: passive income that I'm talking about, and I like to

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Speaker 1: think of this about shifting from working for money to

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Speaker 1: having your money work for you, to pay you each

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Speaker 1: year for the rest of your life, whether you physically

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Speaker 1: work or not. So perhaps we look at reframing AI

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Speaker 1: through investing. This can be our catalyst to take that

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Speaker 1: important action today or to up the ante on our

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Speaker 1: existing investment strategy. When I first started one thousand dollar project,

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Speaker 1: I started with one thousand dollars that I hustled on

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Speaker 1: the side. I completed all these different small challenges, I

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Speaker 1: sold things, I did market research, and I cut back

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Speaker 1: in areas of my budget. And each time my savings

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Speaker 1: reached one thousand dollars, I invested it immediately and that

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Speaker 1: money went straight into shares, investing in blue chip Australian

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Speaker 1: industrial companies traded on the ASX and the moment that

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Speaker 1: by order completed successfully, I returned back to hustling up

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Speaker 1: my next one thousand dollars so that I could get

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Speaker 1: ready to invest again as quickly as possible. Now over time,

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Speaker 1: with a conservative margin loan of fifty thousand dollars, I

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Speaker 1: took out about six years ago reinvesting all of my dividends,

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Speaker 1: and those small amounts have really snowballed in the portfolio.

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Speaker 1: And that portfolio is now worth over three hundred and

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Speaker 1: sixty five thousand dollars. And this is the best part.

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Speaker 1: It pays me over sixteen thousand dollars a year in dividends.

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Speaker 1: That is passive income. That sixteen thousand dollars flows into

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Speaker 1: my savings account each year or back into my share portfolio.

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Speaker 1: And that doesn't matter whether I'm working, whether I'm lying

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Speaker 1: in bed fast asleep, or I'm enjoying a holiday with

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Speaker 1: my family. And for me, that is the important point

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Speaker 1: of investing. Investing creates passive income where you aren't one

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Speaker 1: hundred percent reliant on your physical job or even having

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Speaker 1: to actually work. Now, when you buy shares, and you

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Speaker 1: buy shares in the right way, and of course for

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Speaker 1: the right reasons, you're not gambling with numbers on a screen.

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Speaker 1: You're actually strategically buying pieces of businesses. You become almost

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Speaker 1: like a silent partner, or that's the way I like

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Speaker 1: to think about it. And as that business earns profits,

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Speaker 1: you get to share in those exact profits through the

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Speaker 1: dividends and the growth in the value of that company

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Speaker 1: through the share price appreciating. Let's say that you invest

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Speaker 1: ten thousand dollars into solid Australian industrial company, say for example,

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Speaker 1: a supermarket or a bank, and that particular stock is

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Speaker 1: paying say a four percent dividend yield. That's four hundred

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Speaker 1: dollars a year in dividends that you you should be

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Speaker 1: entitled to every single year. That is passive income. And

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Speaker 1: if those dividends grow each year, that means that that

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Speaker 1: income is also going to grow. You know, it might

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Speaker 1: be four hundred dollars a year in the first year,

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Speaker 1: and then it grows. It might be four hundred and

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Speaker 1: sixteen dollars in the next year, even if you don't

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Speaker 1: add another cent. And if the share price rises, so

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Speaker 1: does your initial ten thousand dollars capital as well. So

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Speaker 1: when you invest, your money is now working for you

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Speaker 1: in two different ways. You're earning income off that initial

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Speaker 1: investment and it is also increasing in value. Now, that

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Speaker 1: is exactly why I love to focus on long term

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Speaker 1: income producing, dividend paying assets, particularly Australian industrial shares and

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Speaker 1: obviously listed investment companies such as Whitefield, I, go, Afi,

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Speaker 1: YM Capital, Brickworks. These are the type of investment vehicles

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Speaker 1: that I love because they give me instant diversification and

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Speaker 1: access to companies that provide the everyday goods and services

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Speaker 1: that our economy relies on pretty much every single day

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Speaker 1: just to operate and exist. Now, of course, we have

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Speaker 1: to be realistic. There are no roast tinted glasses here.

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Speaker 1: Investing isn't risk free. Markets fluctuate, especially over the short

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Speaker 1: to medium term, which might I add is very normal

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Speaker 1: and very natural. Dividends can also be cut or even paused,

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Speaker 1: and building meaningful income definitely takes time, discipline and patients.

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Speaker 1: No shares are for long term investors at least seven

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Speaker 1: to ten years, if not longer, and you've got to

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Speaker 1: be comfortable with the risks and of course the volatility.

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Speaker 1: But even with those risks which can actually be managed

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Speaker 1: to a certain degree, particularly with AI, these long term

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Speaker 1: rewards are so powerful, particularly when you stay informed and

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Speaker 1: you keep your investment strategy consistent. You're reviewing your portfolio,

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Speaker 1: you are adding to your portfolio whenever you can afford

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Speaker 1: to by buying more investing in more long term passive

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Speaker 1: income streams like dividends from shares. So how does AI

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Speaker 1: help investors like you and me? And why does it

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Speaker 1: really matter?

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Speaker 2: Now?

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Speaker 1: This is where things get really exciting, because AI isn't

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Speaker 1: just changing how we work, it's changing how we actually invest,

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Speaker 1: and it's helping us make better, more informed decisions that

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Speaker 1: are in alignment to our goals and even our dreams. Now,

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Speaker 1: platforms like Moomoo they're using AI in ways to help

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Speaker 1: make investing smarter, simpler, and far more accessible for everyday

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Speaker 1: people like you and me. It's not just for the

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Speaker 1: professionals anymore. Let me explain what this actually means, because

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Speaker 1: this is really important. Imagine logging into your investment account

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Speaker 1: and seeing a complete I Guess health check, if you like,

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Speaker 1: of your entire portfolio, not just your balance, but your exposure.

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Speaker 1: The risks that you may be carrying that you didn't

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Speaker 1: even realize until AI stepped in and pointed that out.

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Speaker 1: The AI inside movement in fact analyzes your holdings and

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Speaker 1: then identify as areas of concentration. So for example, maybe

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Speaker 1: you know, we upload your portfolio or my portfolio a

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Speaker 1: thousand doll the project and we discover that sixty percent

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Speaker 1: of the investments are in the banking sector. The AI

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Speaker 1: highlights that risk for you making yourware. So next time

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Speaker 1: youI go to invest to say add another thousand dollars,

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Speaker 1: we can look for other opportunities, maybe other opportunities in

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Speaker 1: other sectors to help add back that diversification and reduce

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Speaker 1: that risk. So for example, we need to look at

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Speaker 1: some healthcare stocks or perhaps infrastructure or consumer goods to

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Speaker 1: help balance that risk out. And that's diversification made easy

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Speaker 1: for our benefit. Or perhaps you know you're looking at

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Speaker 1: the market and you're wondering whether your portfolio is perhaps

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Speaker 1: maybe too aggressive or maybe it's too conservative. The Mumu

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Speaker 1: AI tools actually analyze your risk profile and recent market

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Speaker 1: trends and then obviously the company performance to help you

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Speaker 1: give a clearer picture as to what you're doing and

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Speaker 1: what you also need to be thinking about and perhaps

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Speaker 1: even doing so. Mumu's AI tools actually help you make

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Speaker 1: informed decisions, not irrational emotional decisions, the decisions that are

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Speaker 1: actually in alignment to your goals. Then there is the

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Speaker 1: educational part of Mumu. So within the Mumu app there

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Speaker 1: are all these bite sized videos built in. These are

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Speaker 1: like tutorials. They're really easy to follow, they're really easy

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Speaker 1: to understand. They explain absolutely everything that you need to

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Speaker 1: know to get started and to build your portfolio. And

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Speaker 1: you can even learn from the Mumu community. This is

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Speaker 1: where investors share their insights. You can see what others

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Speaker 1: are watching, what others are buying, what others are even selling,

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Speaker 1: and of course like what is actually trending. And this

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Speaker 1: is all within the one app on your phone in

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Speaker 1: your pocket right now. Now, if you are just starting

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Speaker 1: out with your investing journey and you're naturally feeling a

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Speaker 1: little bit nervous or unsure, you can actually practice before

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Speaker 1: you begin. Mumo has this really cool feature called paper trading,

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Speaker 1: and it lets you simulate investing without actually using your

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Speaker 1: real money. It's like the perfect way to build your

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Speaker 1: confidence before actually committing any of your funds. And of

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Speaker 1: course you don't start until you feel ready. Now, once

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Speaker 1: you're ready to invest, you can even look at using

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Speaker 1: Mumu's fractional investing, which means you can start with really

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Speaker 1: small amounts of money, as little as ten dollars, and

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Speaker 1: you don't have to actually wait, you know, to save

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Speaker 1: up a thousand dollars necessarily. Of course, if you are

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Speaker 1: have a thousand dollars and you're ready, of course jump

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Speaker 1: right into it. But know that you can use the

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Speaker 1: Mumu app with as little as ten dollars to get started.

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Speaker 1: You can build it up from there. The point is

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Speaker 1: you're starting, you're learning, and you're going to start growing

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Speaker 1: very very quickly. I personally guarantee it so as you

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Speaker 1: can now see. And the point of what I'm really

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Speaker 1: those paralyzing and overwhelming like guesswork when it comes to

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Speaker 1: investing or getting started or where and how to add

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Speaker 1: more to our portfolio. And this is where previously some

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Speaker 1: of us may have just procrastinated or made and taken

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Speaker 1: really like risky, ill informed decisions. Of course, AI is

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Speaker 1: never going to replace our judgment, but it definitely gives

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Speaker 1: us better information, better quality information to make decisions with confidence,

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Speaker 1: and decisions that are actually properly grounded in data, not fear,

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Speaker 1: not hype, and certainly not trends. So what exactly is

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Speaker 1: my fire strategy? Because I've shared my own fears of

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Speaker 1: AI replacing my job, So for me, fire financial independence

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Speaker 1: retire really is not about quitting work tomorrow. It's about

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Speaker 1: creating choices, creating free time, and creating that flexibility in

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Speaker 1: my life that I desire and I crave, the freedom

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Speaker 1: to decide how I work, when I work, and what

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Speaker 1: I actually want to say yes to. So my personal

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Speaker 1: fire strategy is built around small, consistent habits of investing

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Speaker 1: as often as I can when I can afford to,

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Speaker 1: but also respecting the time needed to step up and

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Speaker 1: take action Today. It's about being patient and acting with

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Speaker 1: self discipline for the long term freedom that is actually

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Speaker 1: realistically growing in my future and something I'm actually really

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Speaker 1: proud to be working on and really excited about. I

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Speaker 1: love investing, so when I buy shares, I buy shares

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Speaker 1: to hold them for the long one buy and hold,

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Speaker 1: I watch my dividends grow each year. I invest in

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Speaker 1: businesses that provide the essential goods and services, and businesses

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Speaker 1: that have a long history of paying dividends, even if

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Speaker 1: they have natural levels of market volatility, and of course

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Speaker 1: I always do my research using tools like this and

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Speaker 1: AI to make great decisions so that I have no regrets.

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Speaker 1: Now when it comes to picking which stocks I want

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Speaker 1: to invest in, I lean on listed investment companies for

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Speaker 1: diversificational benefits and some international ETFs. Now, both of these

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Speaker 1: investment products ETFs and links, they hold dozens of underlying

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Speaker 1: companies and of course are managed by experienced teams. So

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Speaker 1: it's like researching out some of the research and those

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Speaker 1: day to day decisions professionals who live and breathe investing

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Speaker 1: every single day. But what I do is then double

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Speaker 1: down on the individual companies that I want to own

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Speaker 1: more of, but of course only after doing my research

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Speaker 1: and leaning on these AI tools that they have within

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Speaker 1: Moomo that we've spoken about today. So for example, I

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Speaker 1: might have say twenty thousand dollars in for example, Whitefield,

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Speaker 1: and I may know, for example, that Whitefield own for example,

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Speaker 1: say Westpac, and whilst I'm happy owning Westpac through Whitefield,

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Speaker 1: I feel like perhaps I want to own more of

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Speaker 1: that bank, or perhaps I want to own more of

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Speaker 1: another bank that's within the Whitefield listed investment company. I

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Speaker 1: can use the tools within MUMU to help pick which

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Speaker 1: other companies I want to double up on and which

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Speaker 1: other companies I want to add to the portfolio. And

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Speaker 1: most importantly, I always reinvest every single dividend, either through

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Speaker 1: a dividend reinvestment plan or having that money deposited to

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Speaker 1: a separate savings account, so I can manually use that

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Speaker 1: money and go and add more once my limit hits

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Speaker 1: one thousand dollars, and of course, when I can afford to,

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Speaker 1: I have my own money from my own personal budget

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Speaker 1: and cash flow back into the portfolio. Now, over time,

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Speaker 1: that steady patient approach has built a growing stream of

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Speaker 1: frank dividends that have been increasingly that have been increasing

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Speaker 1: year after year. And for me, I am not focused

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Speaker 1: on the portfolio's dollar value whatsoever, even though I proudly

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Speaker 1: shared with you that's worth over three hundred and sixty

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Speaker 1: five thousand dollars. For me, at the end of the day,

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Speaker 1: I'm focused on what that portfolio earns, the income that

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Speaker 1: it produces, the income that it pays me each year,

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Speaker 1: and if it is growing in the right direction, because

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Speaker 1: at the end of the day, it is the income

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Speaker 1: is what's going to buy me the freedom and This

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Speaker 1: is something I highly recommend for you. As you start

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Speaker 1: watching your own portfolio grow, don't track, don't become fixated

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Speaker 1: or obsessed with the portfolio value. Make sure your eye

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Speaker 1: is on the dividends, the gross dividends that you get

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Speaker 1: paid each year, and making sure that they are growing

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Speaker 1: in the right direction in a line to your financial

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Speaker 1: freedom goals. And here's where AI actually pays a really

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Speaker 1: powerful supporting role, because each time I invest more into

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Speaker 1: my portfolio or I'm simply reviewing it, I have such

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Speaker 1: a greater insight and understanding of where I'm heading, the

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Speaker 1: risks that I may need to start navigating around, or

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Speaker 1: even the opportunities that I need to jump on and capitalize.

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Speaker 1: And I'm helping sure that I remain completely focused on

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Speaker 1: my investing objectives at all times. So with Momoo's tools,

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Speaker 1: you can actually do this for yourself. You can log

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Speaker 1: into your moumou account and you can see your own

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Speaker 1: share portfolio and the income growth over time. You know,

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Speaker 1: it can help you analyze dividend yields, it can help

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Speaker 1: you track diversification across different industries, and it can even

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Speaker 1: help you stay educated and updated with company announcements that

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Speaker 1: may in fact impact your holdings, and this is all

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Speaker 1: within the one place. Then obviously saves you time, it

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Speaker 1: reduces stress, and it keeps you focused on the bigger

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Speaker 1: picture here, so that you're always feeling inspired and like me,

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Speaker 1: excited and empowered to keep growing and going with your

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Speaker 1: investing journey and all of that success that lies ahead

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Speaker 1: of you. So now I hope that you can see

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Speaker 1: that investing right now is absolutely essential. This has got

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Speaker 1: to be a part of your everyday life, just like

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Speaker 1: brushing your teeth and putting sunscreen on each day, and

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Speaker 1: that you realize that you need that additional layer of

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Speaker 1: support that comes from earning passive income in your life,

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Speaker 1: growing long term passive income. So you might be wondering, Okay, Canada,

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Speaker 1: this sounds awesome. I get it, I'm on board. I

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Speaker 1: need to get started. How do I do this and

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Speaker 1: how do I use AI to support my own investing strategy. Honestly,

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Speaker 1: my answer is start small. The key is actually not

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Speaker 1: about the amount, it's the action of getting started. So

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Speaker 1: if you're ready, or you're even just a little bit curious,

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Speaker 1: you can go and download the movie app for free

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Speaker 1: and explore the platform for yourself. See exactly what I'm

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Speaker 1: talking about. You'll see all the AI insights, the data,

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Speaker 1: the visualizations, the screeners. These will help you identify companies

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Speaker 1: and opportunities and risks that are aligned to your goals.

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Speaker 1: And even if you be in with say ten dollars

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Speaker 1: or fifty dollars, that is the first step, and you

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Speaker 1: can build momentum from there, and as you get more

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Speaker 1: and more confident, you can start scaling up, you can diversify,

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Speaker 1: you can let the magic of compounding interest work for you,

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Speaker 1: especially as your knowledge grows from using all of the

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Speaker 1: incredible free tools within this Moomoo app and of course

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Speaker 1: the AI tools. And that's how investing becomes not just

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Speaker 1: something that you should do, but something that you understand

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Speaker 1: and you control, and you really look forward to investing

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Speaker 1: and with AI only adding greater power and efficiency behind

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Speaker 1: your everyday actions. So let's come back to the fear

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Speaker 1: that we started with. And yes, AI may take some jobs,

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Speaker 1: but it doesn't have to take our financial independence can

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Speaker 1: actually help us build it. If you can start investing,

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Speaker 1: if you can build multiple income streams, and if you

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Speaker 1: can use AI as a tool, a powerful tool, not

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Speaker 1: as a threat, you can actually outsmart this uncertainty that

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Speaker 1: comes from AI, because at the end of the day,

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Speaker 1: AI might change the way that we earn money, but

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Speaker 1: as you now know, it can help us build wealth

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Speaker 1: and build financial freedom. So please don't fear AI. Just

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Speaker 1: learn from it, use it, use it to make better, smarter, calmer,

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Speaker 1: more financially savvy decisions in your life. And platforms like

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Speaker 1: Moomo that are built differently with these AI driven insights,

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Speaker 1: you know, these professional grade tools that are so easy

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Speaker 1: to understand and to actually use an apply with invaluable

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Speaker 1: educational tools that actually empower investors, not intimidate them. Now,

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Speaker 1: as we wrap up today's episode, a reminder this podcast

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Speaker 1: is general information only. It's not personal advice, particularly as

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Speaker 1: I have shared my own investment strategy in some of

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Speaker 1: the shares that actually have within the Thousand Dollars project.

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Speaker 1: Please always consider your own situation or speak to a

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Speaker 1: licensed financial plan before you make any decision. And of course,

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Speaker 1: thank you so much for listening to Sugar Mama's fireplay,

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Speaker 1: and a massive thank you to Mumu for proudly supporting

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Speaker 1: today's episode. If you found this episode helpful, please make

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Speaker 1: sure you subscribe you're following this show and share it

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Speaker 1: with a friend who's been worried about AI. And join

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Speaker 1: me next week as we continue building your path to

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Speaker 1: financial freedom, one smart, intentional step at a time.

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Speaker 2: This is Sugar Mamma's Fireplan. S