WEBVTT - Victoria Devine: Why your family home is not an investment 0:00:04.920 --> 0:00:08.280 Kyoda and welcome to this episode of Shared Lunch, which 0:00:08.320 --> 0:00:11.080 we're recording from Melbourne. I'm so excited. 0:00:11.600 --> 0:00:12.720 Welcome to my house. 0:00:13.160 --> 0:00:15.080 Sorry, I was meant to be introduced, but I just 0:00:15.160 --> 0:00:16.080 jumped Tridy in there. 0:00:16.280 --> 0:00:19.640 Yeah. Well, and we've joined by Victoria Divine from She's 0:00:19.680 --> 0:00:22.040 on the Money and we're going to be talking all 0:00:22.079 --> 0:00:25.680 things about investing misconceptions and as well about investing in 0:00:25.720 --> 0:00:28.520 the AX, which is the Australian Stock Exchange. 0:00:28.800 --> 0:00:31.880 Investing involves risk you might lose the money you start with. 0:00:32.159 --> 0:00:35.920 We recommend talking to a licensed financial advisor. We also 0:00:35.960 --> 0:00:39.920 recommend reading product disclosure documents before deciding to invest. Everything 0:00:39.920 --> 0:00:42.000 you're about to see and here is current at the 0:00:42.000 --> 0:00:42.760 time of recording. 0:00:42.840 --> 0:00:45.479 Before we get started, I'd like to acknowledge the traditional 0:00:45.479 --> 0:00:48.360 custodians of the land, water and sky where we're coming 0:00:48.560 --> 0:00:51.440 to you from today. There were reundery people of the 0:00:51.640 --> 0:00:54.840 Kulin nation and paying my respects to their elders past, 0:00:54.880 --> 0:00:55.880 present and emerging. 0:00:56.120 --> 0:00:57.320 I'm so excited about this. 0:00:57.680 --> 0:01:00.440 You've come to my house to talk about ourd and 0:01:00.480 --> 0:01:01.760 butter like, how lucky. 0:01:02.040 --> 0:01:03.440 Yeah, thanks for hosting us. 0:01:04.000 --> 0:01:06.160 Oh wait, I'm excited about this. 0:01:06.280 --> 0:01:08.360 I feel like it's going to be a good chat 0:01:08.400 --> 0:01:10.160 but also just a fun chat. 0:01:10.360 --> 0:01:10.679 Yeah. 0:01:10.800 --> 0:01:13.800 Well we both love and visiting, really do we? 0:01:14.280 --> 0:01:15.399 Who would have thought? 0:01:16.720 --> 0:01:18.440 And here we are now we can share that love, 0:01:18.600 --> 0:01:21.200 you know with everyone. You've been in the game, you know, 0:01:21.319 --> 0:01:22.360 in this world now for a. 0:01:22.319 --> 0:01:25.640 While, too long, too long? It's different all. 0:01:25.600 --> 0:01:29.600 What's changed about the investing environment since you trained as 0:01:29.600 --> 0:01:31.360 a financial advisor versus now? 0:01:31.680 --> 0:01:34.360 I feel like so much has changed. In fact, I'm 0:01:34.400 --> 0:01:37.120 probably a little bit guilty of holding on too much 0:01:37.280 --> 0:01:40.080 because the industry is changing so much. I mean, when 0:01:40.200 --> 0:01:43.399 I retired as an advisor, you guys weren't even in Australia. 0:01:43.720 --> 0:01:45.440 Wow, And how long ago would that have been. 0:01:46.319 --> 0:01:51.480 I retired in twenty twenty one officially and stopped doing 0:01:51.600 --> 0:01:55.160 advice back then, handed in my license the year after that. 0:01:55.720 --> 0:01:58.640 And I just feel like it's so much. 0:01:58.440 --> 0:02:01.680 More approachable now, it's so much more accessible. There's also 0:02:01.720 --> 0:02:04.960 a lot more competition in the market, not necessarily from 0:02:05.400 --> 0:02:08.799 different shares, but different platforms. And I feel like there's 0:02:08.840 --> 0:02:12.279 a lot of analysis paralysis from our community about. 0:02:12.040 --> 0:02:14.000 Who do we trust, what do we do, where do 0:02:14.080 --> 0:02:14.440 we go? 0:02:14.600 --> 0:02:18.360 But even the idea and I mean I'm on the 0:02:18.360 --> 0:02:21.640 Shares's podcast, so we're quite clearly fans of Shares's But 0:02:21.720 --> 0:02:24.280 like even just the concept of being able to invest 0:02:24.320 --> 0:02:26.880 with as little as one cent, like be for real, 0:02:27.000 --> 0:02:30.000 that was never something that I was able to talk about. 0:02:30.120 --> 0:02:32.640 And even when I started my investing journey, like you 0:02:32.680 --> 0:02:35.040 would be the same you've come out of, you know, 0:02:35.160 --> 0:02:39.680 actually legitimate big dog investing firms, and we used to 0:02:39.680 --> 0:02:43.120 talk about investments that I could have at the time 0:02:43.280 --> 0:02:45.680 only dreamed of being able to play with or be 0:02:45.919 --> 0:02:48.720 involved in. And I remember talking to clients about minimum 0:02:48.720 --> 0:02:52.120 investment amounts and there was this one fund that I 0:02:52.240 --> 0:02:54.400 was like, oh, that sounds so good, but like the 0:02:54.440 --> 0:02:57.280 minimum investment at the time was like twenty thousand dollars 0:02:57.320 --> 0:03:00.560 and I remember thinking, oh, that's not for me. But 0:03:00.720 --> 0:03:03.880 now I can have access to the same fund, and 0:03:04.040 --> 0:03:06.800 I do now because it was more me going I 0:03:06.840 --> 0:03:09.040 don't even want that. It's not even aligned to my 0:03:09.040 --> 0:03:11.440 strategy anymore, but I want to buy it because historically 0:03:11.480 --> 0:03:12.760 I thought I would never. 0:03:13.560 --> 0:03:15.919 That was strategy right when you're if you can only 0:03:15.919 --> 0:03:16.720 afford one. 0:03:16.840 --> 0:03:21.600 Investment, yeah, And I think that's diversification is different acually, 0:03:21.800 --> 0:03:24.840 like being able to spread, to have a really great 0:03:24.880 --> 0:03:27.440 investment pootfolio, no matter how much you're looking to invest. 0:03:27.520 --> 0:03:30.560 If you told me in like twenty seventeen that I 0:03:30.639 --> 0:03:32.800 listened to a finance podcast, I'd be like, what is 0:03:32.840 --> 0:03:35.960 it like? Market updates from Morning Star? Like I would 0:03:35.960 --> 0:03:38.480 have thought it would have been very technical and for 0:03:38.720 --> 0:03:42.280 industry only because that's what that content was like. And 0:03:42.320 --> 0:03:45.040 now it's this fun topic that everybody can get involved 0:03:45.040 --> 0:03:46.600 in and it empowers us. 0:03:46.760 --> 0:03:50.400 The updates thing is interesting because it's like, you definitely 0:03:50.520 --> 0:03:53.280 know it's like numbers, numbers, numbers, But the thing is 0:03:53.280 --> 0:03:55.240 is it like it's all the exciting stuff that goes 0:03:55.280 --> 0:03:58.800 on behind the numbers that's really interesting as an investor. 0:03:58.880 --> 0:04:01.320 And I talk about that being like, yes, my job's 0:04:01.320 --> 0:04:04.520 and finance, but my job is not my own personal finance. 0:04:04.880 --> 0:04:07.120 So you've still got to have interesting. It's still going 0:04:07.160 --> 0:04:08.880 to be interesting to right to want to do it 0:04:08.920 --> 0:04:10.440 one hundred percent day job. 0:04:10.440 --> 0:04:11.200 One hundred percent. 0:04:11.240 --> 0:04:13.480 And I feel like we have learned and I mean, 0:04:14.080 --> 0:04:15.920 I feel like I've been passionate about this for a 0:04:15.960 --> 0:04:19.000 long time, but I feel like the market and everyone 0:04:19.120 --> 0:04:22.240 is catching up with this concept that money is inherently 0:04:22.279 --> 0:04:26.839 psychological and so because of that so many more people 0:04:26.839 --> 0:04:31.000 are connecting in with this finance concept that they've previously 0:04:31.040 --> 0:04:33.560 buried their heads in the sand about because it was 0:04:33.560 --> 0:04:35.560 overwhelming and I'm not good at budgeting and I'm not 0:04:35.600 --> 0:04:38.280 smart enough or good enough or whatnot, and like that's 0:04:38.279 --> 0:04:41.080 actually not true, and that's not the narrative, Like it's 0:04:41.120 --> 0:04:42.960 how you feel, it's your money story and all of 0:04:42.960 --> 0:04:46.159 that stuff that I'm passionate about. But yeah, the world 0:04:46.200 --> 0:04:48.800 has changed, but I think it's for the better. I 0:04:48.839 --> 0:04:51.159 would say when it comes to people taking charge of 0:04:51.160 --> 0:04:54.000 their investment journeys, it's one hundred percent positive. 0:04:54.640 --> 0:04:56.840 So quite a big culture shift then, like happened in 0:04:56.880 --> 0:05:01.320 that time around like more you know, more financial behavior, 0:05:01.720 --> 0:05:05.320 like bringing that in those good kind of habits, accessibility 0:05:05.440 --> 0:05:08.520 becoming more mainstream, just the richness of content now that 0:05:08.520 --> 0:05:10.800 we can all get access to. What about when it 0:05:10.800 --> 0:05:13.680 comes to like investing products and what's available. 0:05:13.920 --> 0:05:16.640 I would have lost my mind, Sonia if even like 0:05:16.800 --> 0:05:19.320 three years ago you'd told me you'd be able to 0:05:19.320 --> 0:05:23.719 buy cryptocurrencies on the ASEX before real like that to 0:05:23.800 --> 0:05:27.760 me is mind blowing. In fact, cryptocurrencies for me was 0:05:27.800 --> 0:05:31.159 something that I discussed with my finance friends because we 0:05:31.160 --> 0:05:34.160 were really nerdy and used to read Reddit threads like 0:05:34.480 --> 0:05:37.200 that was not something that I ever thought would become 0:05:37.880 --> 0:05:41.680 part of the mainstream conversation. And I mean here in Australia, 0:05:41.800 --> 0:05:46.920 cryptocurrencies are not a recognized financial asset, which, to be honest, 0:05:47.000 --> 0:05:50.000 I think we're probably headed that way because for me, 0:05:50.720 --> 0:05:54.800 whilst I've been quite public about not adoring cryptocurrencies because 0:05:54.800 --> 0:05:56.920 I feel like the risk is too much and it 0:05:56.960 --> 0:05:59.679 does blow my mind that so many people are willing 0:05:59.760 --> 0:06:01.839 to go so oh I invest in crypto, but the 0:06:01.839 --> 0:06:06.320 share market is too overwhelming. That's clearly an education piece, 0:06:06.440 --> 0:06:09.280 not necessarily the truth. And I think that when we 0:06:09.480 --> 0:06:14.000 have these conversations about cryptocurrencies, people are confused because they say, 0:06:14.120 --> 0:06:16.840 be like, you don't like crypto, why would you want 0:06:16.880 --> 0:06:17.800 it to be recognized. 0:06:18.000 --> 0:06:19.520 I want it to be recognized, sonya. 0:06:19.600 --> 0:06:22.760 So it's regulated so that if that's your interest, you're 0:06:22.800 --> 0:06:24.240 protected in that space. 0:06:24.560 --> 0:06:26.760 So historically, I used to. 0:06:26.839 --> 0:06:29.120 Work in a space where we were working with ultra 0:06:29.200 --> 0:06:32.440 high net wealth individuals and so I worked in a 0:06:32.480 --> 0:06:35.640 position where I had exposure. I think you could say 0:06:35.800 --> 0:06:38.200 to a lot of self managed super funds. So here 0:06:38.240 --> 0:06:41.440 in Australia, we have what's called a self managed superannuation fund. 0:06:41.640 --> 0:06:45.120 So for us that was always like kind of reserved 0:06:45.200 --> 0:06:48.360 for the really rich, and for me at the time, 0:06:48.400 --> 0:06:51.119 I was envious because of the control that you had 0:06:51.440 --> 0:06:54.640 so people could pick literally any type of asset. Now 0:06:54.680 --> 0:06:58.719 that control we have now and we can invest in 0:06:58.800 --> 0:07:01.640 literally anything we want without having to go down this 0:07:01.839 --> 0:07:05.440 very complicated self managed route. So I don't know, just 0:07:05.520 --> 0:07:09.480 this idea that things are not only more accessible, just 0:07:09.520 --> 0:07:12.280 more fun, and like, how cool is it that we 0:07:12.360 --> 0:07:15.560 have so much control over our own futures and. 0:07:15.920 --> 0:07:16.920 What we set up today. 0:07:16.960 --> 0:07:18.680 It doesn't have to be the same as tomorrow or 0:07:18.720 --> 0:07:23.200 even in fifteen years, but it does count towards future 0:07:23.280 --> 0:07:25.560 us being in the best possible position. I think that's 0:07:25.600 --> 0:07:26.320 like low key. 0:07:26.160 --> 0:07:29.040 Really sexy. 0:07:29.200 --> 0:07:31.360 I agreed. So, now, if we look at the A 0:07:31.520 --> 0:07:34.840 six itself, what are some of the emergent emerging sectors? 0:07:34.880 --> 0:07:37.720 We see like lots of mining, lots of banking, but 0:07:37.760 --> 0:07:39.880 there's also a lot more going on. Can you tell 0:07:39.960 --> 0:07:42.640 us about some other parts of the AX that are. 0:07:42.720 --> 0:07:43.640 So the AX? 0:07:43.760 --> 0:07:45.560 I don't know, it's pretty special because it's like our 0:07:45.640 --> 0:07:48.080 little island. We are very big in mining, we are 0:07:48.160 --> 0:07:52.000 very big in emerging our industries. Technology is a really 0:07:52.080 --> 0:07:55.600 big one here. Education is something that I think is 0:07:55.640 --> 0:07:58.679 definitely emerging in this space. But also I would say 0:07:58.760 --> 0:08:03.480 that post COVID, people who've really prioritized essentials, So we're 0:08:03.520 --> 0:08:07.680 seeing more people at a younger demographic purchasing things like 0:08:07.800 --> 0:08:12.360 supermarkets and transurban, which is, you know, they run all 0:08:12.360 --> 0:08:15.280 of our roads and toll roads here in Australia, here 0:08:15.320 --> 0:08:18.720 in Victoria and New South Wales and in Australia. And 0:08:18.800 --> 0:08:22.080 I find that we have gone from trying to find 0:08:22.120 --> 0:08:25.880 something new and different and emerging to going, hey, how 0:08:25.880 --> 0:08:28.960 can I find something that helps us beat inflation but 0:08:29.120 --> 0:08:32.200 isn't blowing the lights out because I think our demographic 0:08:32.280 --> 0:08:35.319 and this is like gen Z's and gen x is, 0:08:35.679 --> 0:08:39.200 we're talking about just making sure that future US is 0:08:39.200 --> 0:08:42.320 in the best possible position. When we hear about what's 0:08:42.360 --> 0:08:46.160 going on in the broader international market, we hear, oh, 0:08:46.240 --> 0:08:49.240 there's definitely a recession coming, we are often more protected 0:08:49.280 --> 0:08:52.239 from that, and I think that that's given our investors 0:08:52.360 --> 0:08:55.960 and our community a lot more security knowing that. And 0:08:56.000 --> 0:08:59.040 I also think that there has been a lot more 0:08:59.080 --> 0:09:03.880 pressure put on businesses to be transparent about their ESG policies. 0:09:04.160 --> 0:09:07.360 I really welcome that, like I adore that people are 0:09:07.400 --> 0:09:12.040 being held to what they are saying right Like historically, 0:09:12.120 --> 0:09:15.160 I feel like a lot of businesses spoke or talked 0:09:15.160 --> 0:09:17.079 to the talk, but didn't walk the walk. And now 0:09:17.120 --> 0:09:19.920 people are being held accountable, and like that increase in 0:09:20.000 --> 0:09:24.000 transparency is not just coming from I guess the ASX, 0:09:24.000 --> 0:09:27.160 but platforms like Chase's who are you know deciphering that 0:09:27.240 --> 0:09:31.120 information for people who aren't investing professionals to be able 0:09:31.160 --> 0:09:33.079 to absorb, and they're the ones that are going to 0:09:33.120 --> 0:09:35.960 hold them accountable because while we might be investing tiny 0:09:35.960 --> 0:09:38.000 amounts along the way, we. 0:09:38.080 --> 0:09:40.040 Have a lot of power on mass. 0:09:40.040 --> 0:09:43.800 So I think that's really good for us, but also 0:09:43.880 --> 0:09:45.600 nice to see they're being more responsible. 0:09:45.679 --> 0:09:47.640 It's really that rise of the stakeholder, right. 0:09:47.800 --> 0:09:51.160 I don't think anyone really took that seriously until when 0:09:51.240 --> 0:09:54.240 Game Stop happened. And I feel like when Game Stop 0:09:54.320 --> 0:09:59.160 happened and the rise of the minority investor really showed 0:09:59.160 --> 0:10:04.439 its power, investing companies and organizations had to really go wow, 0:10:04.840 --> 0:10:08.680 Like we didn't think that people with minor investments in 0:10:08.720 --> 0:10:10.640 our business would have that much powered and. 0:10:10.640 --> 0:10:14.280 I think like, yeah, I think people as well, Like 0:10:14.320 --> 0:10:16.280 what it is showing is like there is a lot 0:10:16.280 --> 0:10:20.560 of engagement, and it's a group that should be engaged 0:10:20.600 --> 0:10:21.600 and unlocks. 0:10:21.240 --> 0:10:22.760 A lot of potential when it is engaged. 0:10:22.800 --> 0:10:24.880 Really well, you know, when we started ches Is, there 0:10:25.000 --> 0:10:27.640 was this idea that people weren't engaged, didn't want to 0:10:27.679 --> 0:10:30.640 be engaged. And I think that over time you show 0:10:30.720 --> 0:10:33.880 actually people are people find this really interesting and want. 0:10:33.679 --> 0:10:35.959 To be engaged and like we've been jumping up in 0:10:36.040 --> 0:10:38.400 data out there for a really long time, sonya, and 0:10:38.400 --> 0:10:41.679 finally they're hearing us, and that's really exciting, Like listen 0:10:41.760 --> 0:10:42.120 to us. 0:10:42.120 --> 0:10:44.760 Investing is cool now. 0:10:45.040 --> 0:10:47.360 I think like so much has changed. You're right around 0:10:47.400 --> 0:10:49.440 like the experience and what we expect, and I think 0:10:49.520 --> 0:10:52.680 it is, you know, democratizing access to information. You know, 0:10:52.760 --> 0:10:55.920 that's what you know. Yeah, you're so right. The channels 0:10:55.920 --> 0:10:57.440 are there to be able to do that. So if 0:10:57.440 --> 0:11:01.080 we kind of flip now into say more investing in general, 0:11:02.000 --> 0:11:05.640 what are some common misconceptions about investing? 0:11:06.360 --> 0:11:08.880 So I would say, first thing, you need to be 0:11:09.000 --> 0:11:11.560 wealthy to be able to invest is the number one 0:11:12.320 --> 0:11:14.840 thing that I still see in my community. I feel 0:11:14.840 --> 0:11:17.640 like I'm a broken record, and obviously you guys would 0:11:17.640 --> 0:11:19.920 be the same. But when you're a retail investor, I 0:11:19.960 --> 0:11:22.600 feel like so many people go, oh, I can't start 0:11:22.600 --> 0:11:25.480 investing because I'm not wealthy enough or I don't have 0:11:25.920 --> 0:11:28.440 enough money yet, And I think that it's kind of 0:11:28.520 --> 0:11:32.240 like I've akin to this to like learning on the job. 0:11:32.400 --> 0:11:34.840 So you go to university for years, right, and then 0:11:35.120 --> 0:11:39.280 you finally graduate and you get so annoyed because you 0:11:39.480 --> 0:11:42.000 learned so much more on the job in the first 0:11:42.080 --> 0:11:44.600 three months and you haven't even finished probation yet than 0:11:44.640 --> 0:11:47.000 you did in the whole time you're at university. And 0:11:47.040 --> 0:11:50.400 I think that's investing in a nutshell. You can do 0:11:50.520 --> 0:11:53.520 so much research. You can listen to every podcast, you 0:11:53.600 --> 0:11:58.040 can absorb every single written piece of content, but you're 0:11:58.080 --> 0:12:00.320 going to learn the most when you put yourself into 0:12:00.320 --> 0:12:04.120 the market. For me, that tangible experience where you've got 0:12:04.120 --> 0:12:05.760 some skin in the game is going to teach you 0:12:05.800 --> 0:12:09.000 a lot more than you reading up on how to 0:12:09.200 --> 0:12:11.800 you know, do an in species transfer. So I would 0:12:11.800 --> 0:12:14.880 say not being in a position to invest, because the 0:12:14.920 --> 0:12:18.320 assumption is you need to be contributing massive amounts each 0:12:18.320 --> 0:12:21.840 and every single month or you know you are still 0:12:21.880 --> 0:12:25.280 in debt. That's probably another big one. I see a 0:12:25.320 --> 0:12:27.760 lot of my community asking the question of like, should 0:12:27.760 --> 0:12:29.839 I invest if I'm in debt? And I mean as 0:12:29.880 --> 0:12:33.000 a blanket response, no, At the end of the day, 0:12:33.040 --> 0:12:36.360 you shouldn't be investing significantly if you have a heap 0:12:36.400 --> 0:12:40.720 of personal debt. But when we talk about debt, we 0:12:40.800 --> 0:12:42.960 need to decipher whether it's good debt or bad debt. 0:12:43.160 --> 0:12:46.360 Good debt is good debt is helping you create wealth. 0:12:46.440 --> 0:12:49.440 So for me, that's things like your mortgage or a 0:12:49.520 --> 0:12:52.720 loan that you've got for a business, whereas bad debt 0:12:52.760 --> 0:12:55.880 it's consumer debt. It's things where you've spent the money, sonya, 0:12:55.920 --> 0:12:58.120 and you've got literally nothing to show for it except 0:12:58.120 --> 0:12:58.960 some good memories. 0:12:59.200 --> 0:12:59.960 And like, don't get me. 0:13:00.160 --> 0:13:02.880 Wrong, I used to do that. I was the victim 0:13:03.040 --> 0:13:06.880 of a personal loan. But so many people go, well, 0:13:06.960 --> 0:13:10.200 I can't touch an investment until I've paid that debt 0:13:10.240 --> 0:13:13.559 down and that's gonna be another seven years. That doesn't 0:13:13.600 --> 0:13:16.559 mean you can't invest on the side, little bits so 0:13:16.559 --> 0:13:20.040 that you're giving yourself that financial literacy and you're learning 0:13:20.120 --> 0:13:23.199 on the go, and you're feeling empowered because they think 0:13:23.240 --> 0:13:25.679 that when we're paying down debt, often we can crucify 0:13:25.720 --> 0:13:28.160 ourselves the whole time and be like, I'm the worst. 0:13:28.200 --> 0:13:31.240 I can't believe I've gotten myself into this position. But 0:13:31.679 --> 0:13:33.640 if you're doing a little bit of an investment on 0:13:33.679 --> 0:13:35.319 the side, maybe you're doing like ten dollars a month, 0:13:35.360 --> 0:13:38.600 We're not talking like hundreds here, because your debt. 0:13:38.440 --> 0:13:39.520 Should be your priority. 0:13:39.840 --> 0:13:42.200 Like you're proving to yourself you have the capacity to 0:13:42.280 --> 0:13:46.000 save that amount. Let's turn that into a benefit for 0:13:46.120 --> 0:13:48.920 future you instead of going I can't do anything along 0:13:48.920 --> 0:13:49.280 the way. 0:13:49.760 --> 0:13:52.240 And it's true, you do like that experience. Sometimes you 0:13:52.280 --> 0:13:54.880 can only just get there through doing it. I'll say, 0:13:54.920 --> 0:13:58.000 like differently, have picked up some great listens through that. 0:13:58.480 --> 0:14:01.719 You're just gonna learn on the job, right, like it right, 0:14:01.720 --> 0:14:05.040 it's down now, Like we're all just learning and growing. 0:14:05.320 --> 0:14:08.040 And I think that a lot of people outside of 0:14:08.040 --> 0:14:11.679 this investing conversation crucify themselves for being in debt and 0:14:11.679 --> 0:14:14.680 then label themselves as being bad with money or not 0:14:14.800 --> 0:14:17.960 good with money, when in reality, sonya, you just spent 0:14:18.040 --> 0:14:20.640 more than you weren't. That's actually really easy to fix. 0:14:20.720 --> 0:14:22.880 We don't need to talk about our past mistakes and 0:14:22.920 --> 0:14:25.480 crucify ourselves. It's just draw line in the sand and 0:14:25.520 --> 0:14:27.800 be like, did you want to do something different? We 0:14:27.880 --> 0:14:31.320 can like that's completely within your power. 0:14:31.640 --> 0:14:33.040 And I think that's really exciting. 0:14:33.160 --> 0:14:35.680 Yeah, and I like the idea of like really struggle 0:14:35.720 --> 0:14:37.720 with like getting something wrong. It's like there's really no 0:14:37.840 --> 0:14:39.840 right on wrong. You just got to kind of keep 0:14:40.080 --> 0:14:41.080 going through it or it. 0:14:41.600 --> 0:14:44.200 I'm a bit fluffy that way too. I always say 0:14:44.200 --> 0:14:46.720 to my team there are no mistakes. They're either blessings 0:14:46.800 --> 0:14:49.040 or lessons, like it's one or the other. 0:14:49.560 --> 0:14:52.840 So you know, now that people know you can just 0:14:53.200 --> 0:14:55.280 enviss with what you can afford, and it's not about 0:14:55.600 --> 0:14:59.120 necessarily just one thing and you can you know, it's 0:14:59.160 --> 0:15:02.560 about considering a broader your broader picture with money. Like 0:15:02.640 --> 0:15:05.680 we have over eight thousand investments on sheers Ease, and. 0:15:05.600 --> 0:15:08.320 You okay, that's just a little bit of a flex. 0:15:08.520 --> 0:15:11.080 I know that one of the common questions where you're 0:15:11.120 --> 0:15:12.560 asked is what should I invest in? 0:15:13.640 --> 0:15:16.960 I hate that question, Sonya that if beef over you, 0:15:17.040 --> 0:15:17.680 you know, if we. 0:15:17.680 --> 0:15:20.480 Kind of pivot that question into you know, how how 0:15:20.520 --> 0:15:23.360 should people consider that feeling of being overwhelmed when it 0:15:23.360 --> 0:15:24.720 comes to investing. 0:15:24.800 --> 0:15:27.480 I feel like, I feel like it's a really good question, 0:15:27.600 --> 0:15:29.640 like what should I invest in? I'm so glad you 0:15:29.680 --> 0:15:33.400 asked genuinely, because if you're asking what I should invest in, 0:15:33.840 --> 0:15:36.400 like you might be ready to invest, and that's an 0:15:36.440 --> 0:15:41.080 exciting position to be in. But I can't legally tell you, hey, Sonia, 0:15:41.200 --> 0:15:45.000 go buy abcd ETF because it's the best, because that 0:15:45.080 --> 0:15:48.680 would be wildly irresponsible, not only from a licensing perspective, 0:15:48.920 --> 0:15:51.520 but that actually might not be the right fit for you. Like, 0:15:51.760 --> 0:15:54.760 there is no one asset, and I mean, if a 0:15:54.840 --> 0:15:58.840 business creates one asset that meets the criteria of absolutely everybody, 0:15:58.920 --> 0:16:02.200 they're going to make trilli. But that is not what 0:16:02.280 --> 0:16:05.400 the world is like, that's not how markets work. It's 0:16:05.920 --> 0:16:07.600 you need to work that out on your own. 0:16:07.880 --> 0:16:09.880 What are your goals? Why are you investing? Are you 0:16:09.920 --> 0:16:10.840 investing for future? 0:16:10.880 --> 0:16:10.960 You? 0:16:11.320 --> 0:16:13.560 Are you investing because in seven to ten years you 0:16:13.560 --> 0:16:14.920 want to buy a property and you kind of want 0:16:14.920 --> 0:16:17.000 to get a little bit ahead on that goal. Are 0:16:17.040 --> 0:16:19.840 you investing because you've got fomo with your friends, like 0:16:20.120 --> 0:16:23.320 deeply understand why you want to invest? Because that why 0:16:23.480 --> 0:16:26.360 is then going to tell me how? So then the 0:16:26.400 --> 0:16:28.480 next thing you're going to do. I'm going to assume 0:16:28.480 --> 0:16:29.000 you've done. 0:16:28.880 --> 0:16:30.160 Your risk profile already. 0:16:30.200 --> 0:16:32.840 Here, I'm assuming that this person is at the stage 0:16:32.840 --> 0:16:36.760 where they've downloaded the Chas's app and then saying far 0:16:36.920 --> 0:16:39.160 out Chazy's has grown a bit. They don't have six 0:16:39.200 --> 0:16:41.600 ETFs anymore, They've got eight thousand options. 0:16:41.840 --> 0:16:42.600 How do I pick? 0:16:43.040 --> 0:16:46.120 The question I would then ask myself is do I 0:16:46.200 --> 0:16:48.480 want to be a direct share investor? Or do I 0:16:48.520 --> 0:16:52.320 want to own an exchange traded fund? Now, both of 0:16:52.360 --> 0:16:55.280 these have their pros and cons. If you're going down 0:16:55.320 --> 0:16:58.520 the route of having direct shares, that's a bit more 0:16:58.560 --> 0:17:02.080 responsibility because you've got to make sure you're well diversified. 0:17:02.280 --> 0:17:04.679 So you can't just go and purchase BHP and be 0:17:04.760 --> 0:17:08.240 done with it, Whereas you're going to get instant diversification 0:17:08.680 --> 0:17:11.439 from choosing an ETF. So we need to make that 0:17:11.520 --> 0:17:14.040 decision of like, Okay, well maybe in the future I 0:17:14.119 --> 0:17:16.479 might have both, so maybe you go, We'll be I'm 0:17:16.520 --> 0:17:20.480 a first time investor, and that diversification thing it feels 0:17:20.480 --> 0:17:23.040 really overwhelming, so maybe I do start with an exchange 0:17:23.080 --> 0:17:26.480 traded fund. Fantastic, We've already wiped out a heap of 0:17:26.520 --> 0:17:29.560 the market and now we're only looking at what exchange 0:17:29.600 --> 0:17:31.359 traded funds you would like to invest in. 0:17:31.760 --> 0:17:33.879 Then we're going to go back to our values. Does 0:17:33.960 --> 0:17:34.480 it need to be. 0:17:34.480 --> 0:17:37.240 An ethical fund? Do you want an ETF with only 0:17:37.280 --> 0:17:40.359 women on the board? Do you just want tried and true, 0:17:40.720 --> 0:17:44.199 something like a Vanguard ETF that you know lots and 0:17:44.240 --> 0:17:46.760 lots of people use. That's going to make you feel 0:17:46.760 --> 0:17:50.560 comfortable for your introduction to investing. What does that look like? 0:17:51.160 --> 0:17:55.399 Are you somebody who just wants an ASX two hundred 0:17:55.400 --> 0:17:58.840 index fund? Where that is that's an index fund that 0:17:58.880 --> 0:18:02.119 basically takes the top two hundred companies in Australia, divides 0:18:02.160 --> 0:18:04.320 your money across all of those, and you get the 0:18:04.359 --> 0:18:07.680 average returns of the market. So I think it's about going, well, 0:18:07.680 --> 0:18:09.520 which route do I want to go down? And then 0:18:09.560 --> 0:18:12.320 once you're there, slowly whittling it down. It's like an 0:18:12.400 --> 0:18:15.320 upside down triangle. We're making sure that we're starting really 0:18:15.359 --> 0:18:19.119 broad and then we're starting really broad. And I promise 0:18:19.200 --> 0:18:22.000 you if you keep doing this process of elimination and 0:18:22.040 --> 0:18:25.320 going No, I do want an ETF. Okay, No, I 0:18:25.359 --> 0:18:27.720 do want to make sure it's an ethical fund. No, 0:18:27.880 --> 0:18:30.800 I do probably want one from the top five companies 0:18:30.800 --> 0:18:33.320 in Australia. You're going to end up back where ches 0:18:33.440 --> 0:18:36.920 is started with six options. In saying that I am 0:18:36.920 --> 0:18:39.879 a victim of going through your app and just having 0:18:39.880 --> 0:18:42.200 a bit of a look around. And I mean, I'm 0:18:42.240 --> 0:18:45.240 not here to sell your app today, but the AI 0:18:45.400 --> 0:18:48.359 tool that's pretty enough. DA Like the fact that you 0:18:48.400 --> 0:18:50.800 can just type in what you're interested in and it's like, hey, 0:18:50.840 --> 0:18:54.280 this might work, slagh like be for real, Like that 0:18:54.440 --> 0:18:58.920 is actually so powerful because right now I can't even 0:18:58.920 --> 0:19:01.920 Google that and get a clear response, whereas I can 0:19:01.920 --> 0:19:04.200 look it up on your app and it will actually 0:19:04.280 --> 0:19:08.000 give me legitimate options that are currently appearing on the ASX. 0:19:08.040 --> 0:19:10.320 I feel like it's a really good educational tool. I 0:19:10.320 --> 0:19:12.320 think people are going to assume that it's a search 0:19:12.359 --> 0:19:14.359 and it will just spit out prout, but it doesn't. 0:19:14.680 --> 0:19:18.760