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Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations

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Speaker 1: woman and I'm here to acknowledge country t Glenn Young

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Speaker 1: Ganya Nianar Kaka yah y and Binahaka nian Ar gay

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Speaker 1: In Mbini yakarum Jar Dominyamiga Umagahawaka Woman Damon Imlan Bumba

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Speaker 1: ban Gadabomba in and now in wakah ghan On yak

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Speaker 1: rum Jar water Nadaa. Hello, beautiful friends, we gather on

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Speaker 1: the lands of the Aboriginal people. We thank acknowledge and

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Speaker 1: respect the Aboriginal people's land that we're gathering on today.

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Speaker 1: Take pleasure in all the land and respect all that

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Speaker 1: you see. She's on the Money podcast acknowledges culture, country,

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Speaker 1: community and connections, bringing you the tools, knowledge and resources

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Speaker 1: for you to thrive.

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Speaker 2: She's on the Money. She's on the Money.

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Speaker 3: Hello and welcome to She's on the Money, the podcast

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Speaker 3: that's here to show you investing is not just for

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Speaker 3: the rich, It's for you too. If one of your

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Speaker 3: goals the twenty twenty six is to start investing and

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Speaker 3: growing your money today, I reckon, let's start together. I'm

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Speaker 3: excited and with me is a woman who has helped

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Speaker 3: thousands of women start investing Victoria Devine.

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Speaker 2: Isn't that cool?

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Speaker 3: That's really really cool.

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Speaker 2: That's really cool.

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Speaker 3: Yeah, that's great for the restime.

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Speaker 2: I was reflecting on that last year because I got

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Speaker 2: asked like, oh, how long have you been in business?

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Speaker 2: Because I think someone was questioning me, and I felt

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Speaker 2: really defensive about it, and I was like, well, I've

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Speaker 2: had this business since twenty sixteen, And then I was like,

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Speaker 2: hold on, that means in twenty twenty six I've been

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Speaker 2: helping people invest for ten years. Yeah, are you joking?

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Speaker 2: That's crazy. Age is a privilege denied to many. But

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Speaker 2: that made me feel really old.

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Speaker 1: Oh yeah, yeah.

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Speaker 2: I was like, oh, well, when you think about it, actually, yeah,

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Speaker 2: actually I have been doing this a while. But I

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Speaker 2: love this. I love the impact that we've had. I mean,

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Speaker 2: she's on the money hasn't been around for ten years,

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Speaker 2: but me in the finance space has and that's really exciting.

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Speaker 2: But I adore this time of year. I feel like

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Speaker 2: so many of us are like setting new intentions and

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Speaker 2: setting goals, and you know, I don't want you to

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Speaker 2: set unrealistic goals. That's why we're doing an episode like this.

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Speaker 2: But I love this period or this season because, as

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Speaker 2: you know, Beck, I'm not about dramatic transformation and becoming

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Speaker 2: a whole new person when the New Year hits, because

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Speaker 2: I just think it's so unrealistic. But it's more because

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Speaker 2: it's this time of year when people are a bit

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Speaker 2: more open, Like you feel like you want to change.

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Speaker 2: I don't want you to change everything about you, but

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Speaker 2: you seem a little bit more open to changing your

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Speaker 2: financial habits and putting yourself in a better position than

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Speaker 2: you were in last year. I think it makes us

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Speaker 2: very reflective, especially after such a usually expensive Christmas New

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Speaker 2: Years period, and we're like, oh, I really need to

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Speaker 2: get it together. And hopefully if you are new to

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Speaker 2: this community, that's why you've found us, so hello and welcome.

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Speaker 2: But for a lot of our community, investing is something

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Speaker 2: that they really want to do but they haven't done yet. Yeah,

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Speaker 2: like they haven't taken the plunge. So this episode is

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Speaker 2: all about helping you take those first steps and getting

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Speaker 2: invested because literally anyone can do it with any amount

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Speaker 2: of money, absolutely, and it's so empowering.

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Speaker 3: Yeah, it really really is so exciting. But I do

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Speaker 3: remember you saying last year that your resolution for twenty

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Speaker 3: twenty five was to get more women investing. And it's

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Speaker 3: such a big part of our mission that she's in

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Speaker 3: the money going into twenty twenty six. What is the

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Speaker 3: why behind that for you?

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Speaker 2: I mean, it's going to be my resolution every year.

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Speaker 2: I think, like, I'm not going to go, oh, I

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Speaker 2: have a different resolution, like I want more women investing

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Speaker 2: more often, because money gives you freedom, and freedom gives

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Speaker 2: you choices, and choices give you power. You get the

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Speaker 2: power to choose, like, and I think a lot of

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Speaker 2: people are like, oh, to be nice, like I want

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Speaker 2: to be rich y had Like that's great, But I

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Speaker 2: actually just want you to have choice, choice about parenting,

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Speaker 2: choice about leaving a situation you don't want to be

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Speaker 2: in any more, leading your job that you don't like,

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Speaker 2: you know, being out one night, not feeling safe, and

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Speaker 2: having the choice to pay for an uber home. Like

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Speaker 2: we're not talking about becoming millionaires, which we can. I

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Speaker 2: will teach you, but it's actually about having freedom of choice.

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Speaker 2: And freedom of choice is so much more powerful than

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Speaker 2: you think it is. And when you don't have it,

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Speaker 2: you look at it and go that would be kind

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Speaker 2: of cool. And when you do have it. You become

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Speaker 2: feastly protective of it and go, oh my god, what

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Speaker 2: was I doing before? My entire nervous system is so

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Speaker 2: much more relaxed. Now, My whole body feels better just

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Speaker 2: because I'm not in fiight or flight all the time.

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Speaker 2: And when you don't have access to money, beck you

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Speaker 2: are just in that really insular situation where you're not

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Speaker 2: feeling like you can move forward, but you're just thinking

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Speaker 2: about that day, and that makes you anxious. It's trash.

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Speaker 2: No one should feel like that, and it is really

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Speaker 2: hard to build that freedom from just having a nine

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Speaker 2: to five Monday to Friday job where money comes in

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Speaker 2: and then you spend it, and then you go back

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Speaker 2: to work and then next month you get paid again.

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Speaker 2: Your salary pays your present, right, but your investments they

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Speaker 2: build your future. And I want you to have a

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Speaker 2: solid and secure future. And I don't think it's a

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Speaker 2: secret that I care, probably too much, but I care

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Speaker 2: insanely deeply about helping women invest because that's when magic happens.

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Speaker 2: Like and that's maybe a little bit selfish. It feels

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Speaker 2: so good, but when your money starts to make money,

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Speaker 2: it's so exciting. It is that small freedom. That's you

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Speaker 2: didn't go to work for that, Beck, Yeah, and you've

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Speaker 2: been investing now for more than twelve months, which is insane.

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Speaker 2: It's so cool. But even you are seeing your money

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Speaker 2: make money and you're like, I don't have to go

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Speaker 2: to work for that, but it's kind of cool, crazy

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Speaker 2: to see. Yeah, And it's not the only way to

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Speaker 2: build wealth, Like, you can build wealth by starting a business,

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Speaker 2: which is what I've done. Yes, you could do it

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Speaker 2: through property, or you could do it through angel investing,

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Speaker 2: but all of those things are relatively unrelatable. Like, let's

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Speaker 2: be honest, not all of us have the privilege of

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Speaker 2: being able to start a business, or the privilege of

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Speaker 2: being able to get onto the property market to make

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Speaker 2: money from it, or angel investing. Like I feel like

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Speaker 2: there are so many podcasts out there being like, oh

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Speaker 2: my god, I'd learn more about angel investing. It's where

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Speaker 2: you invest in other businesses. I see businesses with your capital,

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Speaker 2: so they don't go to a bank for a loan,

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Speaker 2: they go to you. And more often than not, you

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Speaker 2: might take a small shareholding in that business because you

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Speaker 2: really believe in it. But again, that's a privilege and

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Speaker 2: it's not that relatable, and it's fraught with so much

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Speaker 2: more risk than just entering the share market and doing

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Speaker 2: the arguably most boring option. And that's why I love

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Speaker 2: the share market so much and teaching women about it,

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Speaker 2: because it's one of the most accessible places to begin

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Speaker 2: your wealth creation journey. You have all if you think

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Speaker 2: that stuffs sexy, same queen, but we can have that later.

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Speaker 2: We don't need to get complex. We just need to

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Speaker 2: get basic. And if you're not doing basic, well, how

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Speaker 2: on earth do you think you're going to be really

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Speaker 2: good at their property market? How on earth do you

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Speaker 2: think that you're going to angel invest if you've never

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Speaker 2: invested in the share market once? Sure, Like to me,

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Speaker 2: it seems insane. And the other thing that I think

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Speaker 2: we need to touch on because I feel like I'm

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Speaker 2: a bit randy already welcome to twenty twenty six. You

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Speaker 2: don't need hours of your free time to commit to this.

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Speaker 2: You don't need to like do six years of deep

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Speaker 2: diving before we dive in. You don't need a huge income,

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Speaker 2: you don't need a deposit, you don't need a bank

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Speaker 2: to approve you. You just need to download an app

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Speaker 2: and start like, Yeah, some apps you can invest with

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Speaker 2: as little as one sent back that's so sorry. I

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Speaker 2: cannot make it more accessible than that. And women are

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Speaker 2: not only allowed to do this, we are wildly capable

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Speaker 2: at doing this. Research tells us we are better at

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Speaker 2: doing this than men. Sure, so why are you so scared?

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Speaker 2: We are scared of dead?

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Speaker 3: I understand because I was you and I still am. Actually,

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Speaker 3: but as I and we.

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Speaker 2: Were like, hold on, it's not that hard.

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Speaker 4: If we can do it.

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Speaker 2: You could do it just a.

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Speaker 3: Couple of bucks every now and then. I feel like

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Speaker 3: it's like, I'll tell you what I miss it. I

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Speaker 3: missed a couple bucks, but it's away. And actually, though

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Speaker 3: sometimes I know I often, I often do, but it's

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Speaker 3: a way that's like I still shouldn't access it. I

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Speaker 3: never at a point where I'm like, I those three

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Speaker 3: dollars is going to it's going to save me right now,

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Speaker 3: it's going to put fill in on the table I can.

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Speaker 3: I can look under my car see and find three dollars,

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Speaker 3: you know what I mean. So it's like it's I

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Speaker 3: would otherwise have grabbed it already if it was not

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Speaker 3: so out of reach. So I think it's a great

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Speaker 3: way to forced savings making money exactly exactly. So it's

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Speaker 3: a new year, so I have to ask, what are

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Speaker 3: your personal goals with investing this year.

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Speaker 2: So over the last twelve months, I feel like I

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Speaker 2: have not slipped off the investing train, but I've made

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Speaker 2: some pretty big money decisions in my personal life. So

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Speaker 2: my husband and I bought a brand new house, which

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Speaker 2: was more expensive than our last house, and I kind

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Speaker 2: of pulled back on our investing a little bit just

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Speaker 2: so that I could really focus on making sure that

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Speaker 2: we had free cash flow to pay for all the

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Speaker 2: incidentols and like you know, obviously settle alone and all

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Speaker 2: of that was well and good, but we kind of

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Speaker 2: pulled back on our investing journey because I was like, okay,

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Speaker 2: like we only have so much cash flow here. Sure, Like,

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Speaker 2: don't get me wrong, very fortunate and we're in a

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Speaker 2: very secure financial position. But I think anyone going through

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Speaker 2: the purchase of a new home that you know you're

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Speaker 2: looking at the mortgage going that's going to be a

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Speaker 2: lot more. Let's just pull back on other stuff so

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Speaker 2: that we can see how it kind of comes out

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Speaker 2: in the wash, and then from there we will reassess.

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Speaker 2: So my husband and I are going to sit down

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Speaker 2: soon and go, Okay, cool, this is what our cash

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Speaker 2: flow for the year is going to look like. This

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Speaker 2: is what we want to invest, this is what we

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Speaker 2: want to save. So we're still investing every single month,

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Speaker 2: but like the minimum amount that I deem septible and

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Speaker 2: everything else has kind of been going into our offset

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Speaker 2: account for now. Is that the best thing in the world,

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Speaker 2: Like financially no, but for my financial security and to

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Speaker 2: feel safe, yes, because there's just a lot of costs

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Speaker 2: that have come up this year or the past year

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Speaker 2: that I will not say are unforeseen, but like we've

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Speaker 2: moved into a bigger Housebecky, we now have more space.

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Speaker 2: I needed more furniture, like just things like that when

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Speaker 2: you move into a new space, you're like, oh, we

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Speaker 2: have a guest bedroom and no guest beds, like stuff

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Speaker 2: like that that you know is very first world. It's

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Speaker 2: not a problem. But I just want to make sure

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Speaker 2: that I can do that and invest and you know,

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Speaker 2: service our mortgage. So I think for me, it's about

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Speaker 2: just getting everything a little bit more smoothed. I also

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Speaker 2: want to get a little bit more consistent with investing

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Speaker 2: for my kids. So I've spoken about it on the

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Speaker 2: podcast before, and we have set up an investment bond

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Speaker 2: for Harvey and he has that and it just ticks along.

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Speaker 2: And when he was born, and we put a lump

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Speaker 2: sum of money into that investment bond because that's what

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Speaker 2: made sense to us. And the plan was always to

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Speaker 2: take his birthday and Christmas money if he gets any,

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Speaker 2: and pop that into the investment And right now that's

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Speaker 2: just sitting in a savings account. So like it's kind

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Speaker 2: of like cleaning house and doing what I said I

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Speaker 2: was going to do, and just make sure that I

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Speaker 2: can automate that. Because for our kids' investments, we aren't

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Speaker 2: investing for them every single month or anything like that.

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Speaker 2: I'm like, we started with a lump sum. That was

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Speaker 2: our strategy. Like someone else might go, oh, well, we

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Speaker 2: don't have that, and that's fine. We're just going to

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Speaker 2: do it monthly or weekly, or it might just be

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Speaker 2: pocket money, or it won't be at all. Because like

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Speaker 2: just side note, if you are not investing for yourself

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Speaker 2: and if you do not have an emergency fund, I

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Speaker 2: genuinely don't think you should be investing for your kids.

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Speaker 3: Yep.

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Speaker 2: But that's a side note. But yeah, that's that's mine. Yeah,

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Speaker 2: I like that. I really like that.

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Speaker 3: So to prepare for this episode, specifically, we did us

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Speaker 3: a community their biggest reasons they're not investing in the

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Speaker 3: share market, and I want to get your thoughts on

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Speaker 3: the most common responses. So fifty two percent said, I

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Speaker 3: don't know enough yet and it feels too confusing.

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Speaker 2: I broke my heart. I mean, I'm trying my best. Guys,

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Speaker 2: what more do you want?

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Speaker 3: No, I get it, you see demystify it somehow, I

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Speaker 3: get it.

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Speaker 1: I get it.

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Speaker 2: And for those of you in that fifty two percent, yes,

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Speaker 2: So not only have we got this podcast right, I

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Speaker 2: have a whole investing master class. But I will say

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Speaker 2: that is a paid option, and yes, it is really powerful.

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Speaker 2: And the thousands of women who have done it are

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Speaker 2: all investing and they are doing it really well. And

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Speaker 2: that's a separate community. But aside from that, I have

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Speaker 2: beck this is insane to me. Thousands of hours of

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Speaker 2: podcasts for you, and that is really overwhelming. But gin

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Speaker 2: what our producer Emma did for you. She has made

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Speaker 2: playlists on Spotify so that you can just start from

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Speaker 2: the basics. So I'm not sure and I cannot remember

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Speaker 2: what the playlist is called, but we will link it

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Speaker 2: in the show notes, and it will basically be an

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Speaker 2: end to end. Here's the beginners, because sometimes if you're

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Speaker 2: new to our community or your feeling a little bit

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Speaker 2: overwhelmed by it all, diving into an investment diary might

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Speaker 2: not be the best place for you to start, because

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Speaker 2: you've just dove into content that is all about, Oh

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Speaker 2: my gosh, this person has a fifty thousand dollar portfolio

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Speaker 2: and this is what it's made up of, and you're like, cool,

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Speaker 2: that's overwhelming. I actually only have one hundred dollars and

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Speaker 2: I don't know where to start. So we've put that

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Speaker 2: together so that you don't have to like sift through

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Speaker 2: all of our content and find something that works for you,

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Speaker 2: Like we're just going to give you it on a

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Speaker 2: silver platter and all of that is free. But I

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Speaker 2: feel like we also need to touch on the fact

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Speaker 2: that women consistently score the same as men on financial

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Speaker 2: literacy when they're actually tested. So why I've sat you down, Yes,

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Speaker 2: I gave you a test. Women are often going to

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Speaker 2: tell you that they will do worse, but they actually

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Speaker 2: do the same as men. And the difference there Becky's

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Speaker 2: confidence confidence, We just don't believe in ourselves in a

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Speaker 2: way that we should, but we.

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Speaker 3: Had confidence to you would probably better.

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Speaker 2: Yes, some like to just reflect and go what would

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Speaker 2: a mediocre, middle aged white man do? And then I

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Speaker 2: do that?

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Speaker 3: Yeah that's good, it's really empowering idea.

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Speaker 2: Yeah, like what would Craig do?

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Speaker 4: You know what?

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Speaker 2: Wouldn't ask whether he's good investing? No, No, he'd be like,

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Speaker 2: I'm Craig, I'm really smart. Sick at this.

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Speaker 3: You also just walk across the road without looking.

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Speaker 2: Yeah, how annoying he would. And he also doesn't say

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Speaker 2: thanks when he's at the bar, like he just takes

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Speaker 2: his beer and walks off.

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Speaker 3: Yeah, no, no he doesn't.

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Speaker 2: So like we're different because like I'd be like, thank

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Speaker 2: you so much for that you have a good day

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Speaker 2: and do for you? Yeah, exactly. Women, but women assume

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Speaker 2: that we need to know absolutely everything before we even

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Speaker 2: take the first step, which is wild because men just

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Speaker 2: they walk across the road.

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Speaker 3: They just walk across the road. You're going to stop, right, beck,

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Speaker 3: I'm going to wait for that light.

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Speaker 2: You're going to wait for the light. But like anyway,

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Speaker 2: they'll try something, they'll learn along the way. We need

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Speaker 2: to take a leaf out of that book, And the

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Speaker 2: truth is that hesitation is actually costing you more than

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Speaker 2: the small mistake that you might make. So, like, if

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Speaker 2: you got into the share market at the start of

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Speaker 2: last year and you picked a shit ETF might have

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Speaker 2: been one that you're like, I bought this twelve months

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Speaker 2: ago and we've all done this right, Like I've even

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Speaker 2: done this in my own portfolio. I'm like, why is

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Speaker 2: she there?

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Speaker 3: Yeah?

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Speaker 2: What where were your values? At Victoria? Devin Like, why

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Speaker 2: did you pick that? And it might have been TikTok hype.

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Speaker 2: It might have been me just googling stuff and seeing

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Speaker 2: like their marketing and being like, oh, this is the

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Speaker 2: best ETF. I'm going to pick this. So Beck, the

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Speaker 2: small amount that you're going to have lost on that

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Speaker 2: quote wrong ETF or wrong share, that's a learning. That's

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Speaker 2: a lesson, and I can almost guarantee that in the wash,

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Speaker 2: it doesn't matter. So you can pick the wrong thing

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Speaker 2: to start, but you're already in the game, yeah, and

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Speaker 2: then you can shuffle it around and work out what

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Speaker 2: actually fits with your values and sell that and work

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Speaker 2: out what's going on. Because if you are waiting until

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Speaker 2: you feel quote ready, that usually means you're gonna wait

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Speaker 2: forever because even starting with like ten dollars gives you

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Speaker 2: something Google can't, and that is experience, Like something that

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Speaker 2: has stuck with me and I think it was like

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Speaker 2: a bloody Instagram. Quote ready is not a feeling ready

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Speaker 2: as a choice. Yeah, okay, Okaydy, you don't steal ready.

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Speaker 2: I've never felt ready to do anything. Sure, it's always

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Speaker 2: been all right, We're just going to do it. Yeah, okay, Like, yeah,

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Speaker 2: what would it mean for you to feel quote ready

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Speaker 2: you know everything? Okay, Well, how are you going to

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Speaker 2: know everything if you have no experience?

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Speaker 3: Yeah, like you learn on the job.

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Speaker 2: Beck, totally. So I think it's so important that you

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Speaker 2: know that you don't need perfect knowledge. You don't need

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Speaker 2: to have read ten books. You just need to have

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Speaker 2: read mine. No I'm joking, But you don't need to

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Speaker 2: understand every single investment under the sun and pick the

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Speaker 2: best one ever. You just need to know enough Beck

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Speaker 2: to take the first step.

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Speaker 3: Yes, absolutely agree. But yeah, honestly, like once you start

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Speaker 3: and once you download chares you or whatever platform you

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Speaker 3: want to use, and you start googling all these different things,

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Speaker 3: because it is really really daunty when you go in

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Speaker 3: so beings to choose from. But I just started googling

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Speaker 3: everything and then just kind of went from there and

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Speaker 3: just googled the most I don't know, popular stock and

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Speaker 3: then kind of just went from there or ETF. But yeah,

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Speaker 3: your journey is your own. But yeah, forel free to

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Speaker 3: reach out to us, listen to all the episodes we have,

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Speaker 3: and then maybe do the investing masterclass. So this next

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Speaker 3: stat is I guess like a little bit lower, but

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Speaker 3: twenty four percent of people said it, I don't feel

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Speaker 3: like I have enough money to start, which is also

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Speaker 3: obviously so valid, valid, so valid. But you can start

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Speaker 3: with one dollar.

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Speaker 2: And I mean, I'm going to flip this back to

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Speaker 2: you in a hot second. Yeah, you don't get rich

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Speaker 2: and then invest back. I have not met somebody, and

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Speaker 2: do you know what, put your hand up, call me,

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Speaker 2: come on the show. I got rich from saving Never

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Speaker 2: heard it. No, nobody gets rich from putting their money

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Speaker 2: in a savings account. Sure, really sorry. You might have

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Speaker 2: three hundred thousand dollars, but it hasn't grown, it hasn't compounded,

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Speaker 2: And leave that three hundred thousand dollars in a savings

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Speaker 2: account for the next ten years and a guarantee to

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Speaker 2: be worth less. Wow, like time value of money is

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Speaker 2: so improved, Like you need to invest to build wealth. Yeah,

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Speaker 2: but if we go back to twenty four percent, that's

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Speaker 2: a lot of people, that's a quarter of our community

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Speaker 2: who feel like they don't have enough money to invest.

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Speaker 2: Bet how much did you start your investing journey with.

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Speaker 3: Free ten dollars by using the code is a code

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Speaker 3: word or SUTM ten. Yeah, that's I got free ten dollars.

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Speaker 3: I so I started with zero dollars exactly, So you

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Speaker 3: didn't have anything to invest.

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Speaker 2: You used literual free money, which you know not actually

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Speaker 2: meant to be a promo for us, but like you

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Speaker 2: didn't actually have any money to invest, you just decided,

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Speaker 2: I'm going to start with a free ten bucks and

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Speaker 2: see what happens. Cool. And then after that, what was

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Speaker 2: your first contribution?

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Speaker 3: And then after that, I genuinely think it was like

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Speaker 3: five dollars a few weeks later, and so I and

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Speaker 3: then I turned on the order roundups in my bank,

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Speaker 3: and so every now and then five dollars keeps going in,

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Speaker 3: going in, going in, And then you felt comfy with that,

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Speaker 3: felt comfy and like some people you can turn on

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Speaker 3: or to invest, which means that money just automatically go somewhere.

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Speaker 3: But I have now SA's paralysis, and I just don't

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Speaker 3: know what to choose. So I spend a lot of

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Speaker 3: time doing that, but somehow it's really built up a time.

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Speaker 2: So how much is in your investment portfolio?

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Speaker 3: Now? I genuinely think it's like fourteen hundred dollars.

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Speaker 2: Fourteen hundred dollars isn't that crazy? But okay, let's reframe this.

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Speaker 2: If I said, Beck, you need fourteen hundred dollars to invest,

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Speaker 2: when what have you started?

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Speaker 3: I still wouldn't have I still would not have started.

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Speaker 2: But it's easy to start with a free ten dollars

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Speaker 2: and then go, oh, this feels good, and then you

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Speaker 2: invest five bucks. Like we're not talking thousands here, but

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Speaker 2: from little things, big things grow. And I'm so sorry,

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Speaker 2: Paul Kelly, I'm going to use your quote a million

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Speaker 2: times over. But there is a platform that will fit

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Speaker 2: your investing journey. So Beck, you're on sharees Ease. Yes,

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Speaker 2: I don't think it's any secret in our community. You

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Speaker 2: need to go do your own research and work out

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Speaker 2: what platform works best for you. But when we look

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Speaker 2: at something like Chazy's you can literally invest a dollar. Yeah, absolutely,

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Speaker 2: Like you don't have to even start with my discount,

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Speaker 2: which by the way, is not a referral link. I

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Speaker 2: get nothing for that. You just get a free ten dollars.

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Speaker 2: But like, starting small is fine. In fact, i'd prefer

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Speaker 2: you to start small because it doesn't feel scary, Like

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Speaker 2: I want you to be like, well, that was so

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Speaker 2: inconsequential and didn't feel scary. Good, do it again, Do

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Speaker 2: it again, do it again, and then and then you

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Speaker 2: keep doing it again, and then it's at fourteen hundred dollars.

433
00:20:35,480 --> 00:20:39,880
Speaker 2: Holy guacamole, that's at four figures. Yeah, at some point

434
00:20:40,000 --> 00:20:42,120
Speaker 2: that's going to be like a ten thousand dollars investment.

435
00:20:42,240 --> 00:20:47,560
Speaker 2: And that's so exciting because it's compounding, and when it's small,

436
00:20:47,880 --> 00:20:50,200
Speaker 2: it's just so smart. Well, I think it's just so

437
00:20:50,480 --> 00:20:53,760
Speaker 2: smart to start small, even if you've been saving up

438
00:20:53,840 --> 00:20:55,760
Speaker 2: for years, right, Like you've been saving you're like, oh

439
00:20:55,800 --> 00:20:57,920
Speaker 2: my god, like and I've met people in our community

440
00:20:58,040 --> 00:20:59,960
Speaker 2: like this. They're like, the I've got like fifty grand

441
00:21:00,000 --> 00:21:03,200
Speaker 2: and in my account, Queen, that's amazing, Like I really

442
00:21:03,240 --> 00:21:05,680
Speaker 2: want to invest it, but like, I just don't know

443
00:21:05,800 --> 00:21:08,879
Speaker 2: what in I'm like start with a dollar. Yes, you've

444
00:21:08,920 --> 00:21:11,680
Speaker 2: got fifty thousand, we can get that into the share market.

445
00:21:12,040 --> 00:21:15,040
Speaker 2: But like, I would never recommend you go and drop

446
00:21:15,119 --> 00:21:18,399
Speaker 2: your first fifty grand into the market on the first day. Sure,

447
00:21:19,040 --> 00:21:20,800
Speaker 2: you're gonna shot yourself pack.

448
00:21:21,080 --> 00:21:22,639
Speaker 3: Yeah that's to be so scared.

449
00:21:22,680 --> 00:21:25,320
Speaker 2: What if next week the market drops, you think that

450
00:21:25,400 --> 00:21:27,199
Speaker 2: you'd made the worst mistake ever. You take all your

451
00:21:27,240 --> 00:21:29,000
Speaker 2: money out and never look at investing again.

452
00:21:29,400 --> 00:21:30,320
Speaker 3: Yeah, that's so true.

453
00:21:30,480 --> 00:21:32,119
Speaker 2: If it was five dollars here and there and you're

454
00:21:32,160 --> 00:21:36,320
Speaker 2: watching the market eb and flow. Yeah, sorry, what matters

455
00:21:36,520 --> 00:21:39,399
Speaker 2: isn't the size of your first investment. It's building that

456
00:21:39,600 --> 00:21:42,600
Speaker 2: investing habit which Beck has and now she's a little

457
00:21:42,640 --> 00:21:46,280
Speaker 2: consistent investor. Ah, that's so crazy, And that's way cooler

458
00:21:46,680 --> 00:21:48,000
Speaker 2: then waiting until you're rich.

459
00:21:48,280 --> 00:21:50,280
Speaker 3: And also, it just kind of feels like a game.

460
00:21:50,320 --> 00:21:52,439
Speaker 3: It's really fun. I love opening it up. I'm kind

461
00:21:52,440 --> 00:21:54,040
Speaker 3: of checking it as much as I check it Instagram,

462
00:21:54,119 --> 00:21:56,239
Speaker 3: you know. So another thing that came up a lot

463
00:21:56,280 --> 00:21:58,919
Speaker 3: in the comments was that it kind of felt too risky,

464
00:21:59,080 --> 00:22:00,600
Speaker 3: like it felt a gamble or something.

465
00:22:00,760 --> 00:22:04,280
Speaker 2: It's nothing like gambling, like not like gambling, And I

466
00:22:04,840 --> 00:22:07,439
Speaker 2: like it. I get that narrative because it's come from

467
00:22:07,480 --> 00:22:11,920
Speaker 2: people who don't understand investing. Talk to anybody in finance

468
00:22:11,960 --> 00:22:14,000
Speaker 2: and be like, is investing gambling? Not one of you

469
00:22:14,200 --> 00:22:17,320
Speaker 2: will agree, Like, not one person in the finance industry will.

470
00:22:17,560 --> 00:22:21,600
Speaker 2: Your hairdresser might, your mechanic might, a doctor might. Smart

471
00:22:21,720 --> 00:22:25,360
Speaker 2: people might that have no education around financial literacy might.

472
00:22:25,600 --> 00:22:28,360
Speaker 2: But where's that narrative coming from to begin with? Yeah,

473
00:22:28,560 --> 00:22:30,159
Speaker 2: why do you think it is risky?

474
00:22:30,840 --> 00:22:31,040
Speaker 3: Yeah?

475
00:22:31,240 --> 00:22:35,600
Speaker 2: Oh, because my uncle's friend's brother's dog invested during the

476
00:22:35,720 --> 00:22:38,920
Speaker 2: GFC and you know, lost everything. I get it, But like,

477
00:22:39,240 --> 00:22:41,159
Speaker 2: let's look at the things that he held. They were

478
00:22:41,280 --> 00:22:45,240
Speaker 2: arguably probably very risky because if they had purchased the

479
00:22:45,359 --> 00:22:48,040
Speaker 2: ASX top two hundred, or if they had purchased the

480
00:22:48,200 --> 00:22:51,120
Speaker 2: S and P five hundred, you wouldn't have lost money

481
00:22:51,119 --> 00:22:53,280
Speaker 2: if you'd stayed invested. In fact, you would have made

482
00:22:53,359 --> 00:22:56,000
Speaker 2: more money because there was such a big market drop.

483
00:22:56,200 --> 00:22:58,960
Speaker 2: If you held on while the rollercoaster was going down,

484
00:22:59,440 --> 00:23:01,680
Speaker 2: and you will willing to write it back up, you

485
00:23:02,040 --> 00:23:06,680
Speaker 2: are rich now. People lose money because they pull out

486
00:23:06,760 --> 00:23:10,440
Speaker 2: of things when things seem scary. People lose money because

487
00:23:10,480 --> 00:23:14,440
Speaker 2: they make investments that probably weren't aligned to their risk profile.

488
00:23:14,880 --> 00:23:18,320
Speaker 2: All investment is going to come with risk and reward. Right,

489
00:23:18,440 --> 00:23:22,240
Speaker 2: there's a whole risk reward chart That is true for

490
00:23:22,440 --> 00:23:25,560
Speaker 2: every asset class, including the cash sitting in your bank.

491
00:23:26,480 --> 00:23:29,440
Speaker 2: There is risk and reward. There's low risk with the

492
00:23:29,480 --> 00:23:32,480
Speaker 2: cash sitting in your bank. Yeh, there's low reward as well.

493
00:23:32,560 --> 00:23:38,240
Speaker 2: Inflation is more than your saving. True, buying property has risks.

494
00:23:38,680 --> 00:23:41,040
Speaker 2: In fact, I would say in twenty twenty six, buying

495
00:23:41,080 --> 00:23:43,520
Speaker 2: property has more risks than it did thirty years ago.

496
00:23:44,760 --> 00:23:49,200
Speaker 2: Starting a business massive risk, massive rewards if it goes well.

497
00:23:49,600 --> 00:23:52,000
Speaker 2: Putting your money into the shere market has risk. The

498
00:23:52,119 --> 00:23:55,320
Speaker 2: question isn't is their risk? The question is how do

499
00:23:55,400 --> 00:23:58,200
Speaker 2: we manage for risk? The question is how much risk

500
00:23:58,240 --> 00:24:02,560
Speaker 2: are you willing to take on? Not gambling? Gambling, it's

501
00:24:02,680 --> 00:24:05,200
Speaker 2: just risky. The odds are terrible, like if.

502
00:24:05,160 --> 00:24:05,640
Speaker 3: That's the true.

503
00:24:05,640 --> 00:24:08,000
Speaker 2: It's how you make money, yeah, exactly. And the share

504
00:24:08,080 --> 00:24:11,159
Speaker 2: market isn't there to just like take advantage of you

505
00:24:11,280 --> 00:24:13,720
Speaker 2: and make money from you. The share market benefits when

506
00:24:13,760 --> 00:24:16,320
Speaker 2: you make money, Yeah, the share market does not benefit

507
00:24:16,440 --> 00:24:19,240
Speaker 2: when you're losing money, beck, because they're losing money too

508
00:24:19,640 --> 00:24:24,080
Speaker 2: astronomical amounts of it. True. Gambling they make money when

509
00:24:24,119 --> 00:24:24,840
Speaker 2: you lose money.

510
00:24:25,000 --> 00:24:25,440
Speaker 3: Exactly.

511
00:24:25,920 --> 00:24:27,720
Speaker 2: In the share market, they don't make money when you

512
00:24:27,800 --> 00:24:30,520
Speaker 2: lose money. They lose more than you, and they're pretty

513
00:24:30,560 --> 00:24:31,200
Speaker 2: bist about it.

514
00:24:31,480 --> 00:24:33,520
Speaker 3: Yes, yes, yes, yes, exactly.

515
00:24:33,840 --> 00:24:34,040
Speaker 4: Yes.

516
00:24:34,160 --> 00:24:35,919
Speaker 2: If you put all of your money into one company

517
00:24:36,080 --> 00:24:39,560
Speaker 2: that you saw some guy on TikTok talking about guaranteeing,

518
00:24:39,920 --> 00:24:43,639
Speaker 2: there's absolutely gonna blow up. Yeah, that's high risk. I

519
00:24:43,680 --> 00:24:46,760
Speaker 2: would argue that that's very close to gambling because he

520
00:24:47,080 --> 00:24:49,800
Speaker 2: has not even studied finance. He's just got a big

521
00:24:49,880 --> 00:24:53,000
Speaker 2: yapp in mouth. That's not the kind of investing that

522
00:24:53,080 --> 00:24:54,960
Speaker 2: we talk about in this house, Beck, That is not

523
00:24:55,080 --> 00:24:58,480
Speaker 2: what we do. We are talking about diversification. We are

524
00:24:58,560 --> 00:25:02,320
Speaker 2: talking about stables, strong, steady companies. We love a blue

525
00:25:02,440 --> 00:25:06,760
Speaker 2: chip stock. We love something that is so boring but consistent,

526
00:25:07,440 --> 00:25:08,760
Speaker 2: Like I just want to know that they're going to

527
00:25:08,840 --> 00:25:10,200
Speaker 2: be at dinner on time.

528
00:25:10,680 --> 00:25:10,920
Speaker 3: Yeah.

529
00:25:11,720 --> 00:25:16,040
Speaker 2: When you diversify, which means spreading all of your money

530
00:25:16,080 --> 00:25:21,040
Speaker 2: across lots of different companies and industries, you dramatically decrease

531
00:25:21,320 --> 00:25:24,520
Speaker 2: your risk. Now, that doesn't mean go and just like

532
00:25:24,960 --> 00:25:27,800
Speaker 2: buy heaps of random companies and like hold it in

533
00:25:27,880 --> 00:25:31,320
Speaker 2: your portfolio, because you are not an investing expert, and

534
00:25:31,480 --> 00:25:34,639
Speaker 2: diversification doesn't just mean going and buying like, what's thirty

535
00:25:34,720 --> 00:25:37,240
Speaker 2: different random companies and hoping one of them works out.

536
00:25:37,720 --> 00:25:41,600
Speaker 2: Diversification is being smart about it. It is going away

537
00:25:41,640 --> 00:25:44,239
Speaker 2: all right, well, I'm not good at this. Maybe an

538
00:25:44,320 --> 00:25:47,080
Speaker 2: ETF is the best possible way for me. I know

539
00:25:47,880 --> 00:25:50,600
Speaker 2: that if I purchase this particular ETF, it's going to

540
00:25:50,640 --> 00:25:54,280
Speaker 2: be the top performing one hundred companies in Australia. Or

541
00:25:54,480 --> 00:25:58,040
Speaker 2: I know this ETF is really great tech companies because

542
00:25:58,080 --> 00:26:01,159
Speaker 2: someone has gone and Q rated that list for me

543
00:26:01,600 --> 00:26:06,320
Speaker 2: who is an investing expert. Yep. So diversification is important.

544
00:26:06,359 --> 00:26:08,359
Speaker 2: Don't just got go oh all of my eggs in

545
00:26:08,480 --> 00:26:11,680
Speaker 2: random baskets in companies that people have never heard about.

546
00:26:12,359 --> 00:26:15,760
Speaker 2: But a broad ETF, if you're starting, can often be

547
00:26:15,840 --> 00:26:19,480
Speaker 2: a really great choice because it gives you tiny slices

548
00:26:19,520 --> 00:26:23,640
Speaker 2: of hundreds of companies. And that's the opposite of gambling.

549
00:26:23,800 --> 00:26:26,120
Speaker 2: That's the definition of risk management.

550
00:26:26,320 --> 00:26:27,160
Speaker 3: Got you okay?

551
00:26:27,280 --> 00:26:31,600
Speaker 2: And we're managing our risk by taking people's advice who

552
00:26:31,720 --> 00:26:34,879
Speaker 2: know what they're talking about. The dramatic risk that people

553
00:26:35,359 --> 00:26:38,040
Speaker 2: picture when it comes to shares is like the whole

554
00:26:38,160 --> 00:26:41,560
Speaker 2: market collapsing and never ever coming back. Yeah, this kind

555
00:26:41,600 --> 00:26:42,160
Speaker 2: of sounds.

556
00:26:41,920 --> 00:26:43,399
Speaker 3: Scary, right, doesn't sound scary.

557
00:26:43,640 --> 00:26:49,400
Speaker 2: But historically, after every single major crash in history back,

558
00:26:49,520 --> 00:26:52,119
Speaker 2: not just like recent in history, in the history of

559
00:26:52,480 --> 00:26:55,080
Speaker 2: all of the share markets in all of the world. Yeah,

560
00:26:55,440 --> 00:26:58,479
Speaker 2: markets have recovered and they've gone to hit new heis crazy.

561
00:26:58,680 --> 00:27:00,760
Speaker 2: They've gone all the way down to the bottom, and

562
00:27:00,800 --> 00:27:04,720
Speaker 2: everyone absolutely cacks it. Yes, and then if you stay

563
00:27:04,720 --> 00:27:06,960
Speaker 2: on the roller coaster, you make even more money. You

564
00:27:07,040 --> 00:27:07,240
Speaker 2: know what.

565
00:27:08,280 --> 00:27:10,200
Speaker 3: That's so great? When I see a market dip, a

566
00:27:10,240 --> 00:27:12,720
Speaker 3: lot of people do panic. Don't panic bye panicking in

567
00:27:12,800 --> 00:27:13,160
Speaker 3: the dip.

568
00:27:13,560 --> 00:27:15,280
Speaker 2: Go look at the research, go look at the history.

569
00:27:15,320 --> 00:27:17,440
Speaker 2: And we always have to say past performance is not

570
00:27:17,520 --> 00:27:20,320
Speaker 2: a reliable ridictor of future performance, because I need to

571
00:27:20,359 --> 00:27:24,360
Speaker 2: make sure that you're not, you know, assuming that things

572
00:27:24,400 --> 00:27:27,520
Speaker 2: will always happen the same way. Because there has also

573
00:27:27,680 --> 00:27:31,280
Speaker 2: never been a market dip that has replicated the last

574
00:27:31,400 --> 00:27:34,439
Speaker 2: market dip. So like if we go back to global

575
00:27:34,520 --> 00:27:36,760
Speaker 2: financial these are like the more recent ones. But if

576
00:27:36,800 --> 00:27:38,760
Speaker 2: we could go all the way back to the recession,

577
00:27:38,840 --> 00:27:43,240
Speaker 2: right recession, global financial crisis, the Great Depression, we could

578
00:27:43,280 --> 00:27:46,720
Speaker 2: talk about the COVID dip. None of the things that

579
00:27:47,359 --> 00:27:51,480
Speaker 2: have happened historically have replicated themselves because the market grows

580
00:27:51,560 --> 00:27:55,400
Speaker 2: and learns and then like kind of risk protects themselves

581
00:27:55,440 --> 00:27:57,760
Speaker 2: to make sure that particular thing doesn't happen again. But

582
00:27:57,880 --> 00:28:00,679
Speaker 2: something else might happen. But we always want to rebuild.

583
00:28:00,800 --> 00:28:04,480
Speaker 2: So it's not just about Beck losing money. Multimillion dollar,

584
00:28:04,720 --> 00:28:07,760
Speaker 2: multi billion dollar companies are losing money, and they are

585
00:28:07,760 --> 00:28:10,600
Speaker 2: putting the smartest people at the top of those companies

586
00:28:10,840 --> 00:28:13,640
Speaker 2: to go, you fix this, You get this ship back

587
00:28:13,680 --> 00:28:17,240
Speaker 2: on the road, and they do. It takes a while,

588
00:28:17,920 --> 00:28:20,520
Speaker 2: but we have never not seen a market recover from

589
00:28:20,560 --> 00:28:23,359
Speaker 2: a crash and then make even more money. Yeah, like

590
00:28:23,480 --> 00:28:26,200
Speaker 2: that's crazy. It's a pretty good deal, I reckon. And

591
00:28:26,440 --> 00:28:31,560
Speaker 2: the most overlooked risk is actually just doing nothing. So

592
00:28:31,720 --> 00:28:33,560
Speaker 2: like that can be a really good thing because, like

593
00:28:33,960 --> 00:28:36,440
Speaker 2: you know, if the market's crashing, Beck, I would hope

594
00:28:36,480 --> 00:28:38,680
Speaker 2: that you don't panic and pull your money out and

595
00:28:38,720 --> 00:28:40,959
Speaker 2: we do nothing. That's a really good plan. But if

596
00:28:41,000 --> 00:28:43,600
Speaker 2: you're not doing anything to begin with, and all of

597
00:28:43,680 --> 00:28:45,880
Speaker 2: your money is sitting in a savings account and it's

598
00:28:45,960 --> 00:28:49,760
Speaker 2: losing buying power every single year, Queen, that's a loss.

599
00:28:49,840 --> 00:28:52,320
Speaker 2: That's a guaranteed loss. That's so if your money is

600
00:28:52,400 --> 00:28:55,840
Speaker 2: sitting in your savings account, I actually don't even need

601
00:28:55,920 --> 00:28:58,760
Speaker 2: to caveat this. I can guarantee in ten years it

602
00:28:58,800 --> 00:29:02,040
Speaker 2: will buy you so much stuff. It's not going to

603
00:29:02,080 --> 00:29:04,120
Speaker 2: have the same power that it had today. God, she's

604
00:29:04,200 --> 00:29:07,160
Speaker 2: so so annoying, aren't I? No, No, it's so true.

605
00:29:08,880 --> 00:29:11,400
Speaker 2: That's cool. It feels safe. It feels secure right now

606
00:29:11,400 --> 00:29:12,920
Speaker 2: because it just right there and you can touch it.

607
00:29:13,040 --> 00:29:16,200
Speaker 3: It would be worthless one be worthless. God, I did

608
00:29:16,360 --> 00:29:17,040
Speaker 3: sorry about that.

609
00:29:17,360 --> 00:29:20,280
Speaker 2: It feels safe right now because it's not moving right.

610
00:29:21,040 --> 00:29:22,959
Speaker 2: I feel like you get to the beach and you're

611
00:29:23,000 --> 00:29:24,600
Speaker 2: standing on the pier and you're like, well, the boat's

612
00:29:24,600 --> 00:29:26,560
Speaker 2: not rocking, So like I feel quite safe standing on

613
00:29:26,600 --> 00:29:28,800
Speaker 2: the pier. Yes, the boat's going to go over there

614
00:29:28,840 --> 00:29:32,840
Speaker 2: and you you won't be able to get to the boat. Yeah, yeah, yeah,

615
00:29:33,200 --> 00:29:36,640
Speaker 2: guaranteed loss. Just not doing anything is putting future you

616
00:29:37,040 --> 00:29:38,880
Speaker 2: at a massive disadvantage. Fair.

617
00:29:39,520 --> 00:29:41,160
Speaker 3: Okay, So we're going to go to a really quick

618
00:29:41,160 --> 00:29:42,640
Speaker 3: break and when we get back via I'm going to

619
00:29:42,680 --> 00:29:43,800
Speaker 3: get to the juicy stuff.

620
00:29:44,000 --> 00:29:46,280
Speaker 2: We're not in the juicy stuff of mee to keep

621
00:29:46,280 --> 00:29:46,600
Speaker 2: your money.

622
00:29:46,640 --> 00:29:49,200
Speaker 3: Yeah, we're there to be grilled on how you would

623
00:29:49,200 --> 00:29:50,920
Speaker 3: be investing in twenty twenty six if you had to

624
00:29:50,920 --> 00:29:51,480
Speaker 3: start again.

625
00:29:51,840 --> 00:29:55,080
Speaker 2: Oh yeah, so I got no investments, you got.

626
00:29:55,080 --> 00:30:02,560
Speaker 3: Nothing, all right? All right, right, so don't go anywhere. Okay, guys,

627
00:30:02,600 --> 00:30:04,960
Speaker 3: we are back Envy. I need you to hear me

628
00:30:05,080 --> 00:30:08,240
Speaker 3: for just just one second, right, so close your eyes

629
00:30:08,280 --> 00:30:11,800
Speaker 3: and imagine when you open them, you're still you. Okay,

630
00:30:12,320 --> 00:30:15,240
Speaker 3: same brain, same experience, but every doll you've ever invested

631
00:30:15,360 --> 00:30:17,760
Speaker 3: is gone. So you're like completely saying from scratch, it's

632
00:30:17,760 --> 00:30:19,760
Speaker 3: a bit trash. And so for the rest of this episode,

633
00:30:19,800 --> 00:30:22,080
Speaker 3: I want you. I want to know exactly how that.

634
00:30:22,440 --> 00:30:26,480
Speaker 2: Version of Victoria would invest, like the not past Victoria,

635
00:30:26,600 --> 00:30:29,960
Speaker 2: how she started and grew her portfolio. But like, I

636
00:30:30,080 --> 00:30:32,000
Speaker 2: have no money in investments at all.

637
00:30:32,440 --> 00:30:32,760
Speaker 3: Nothing.

638
00:30:33,040 --> 00:30:34,800
Speaker 2: Do I have any money in my savings account?

639
00:30:35,080 --> 00:30:37,520
Speaker 3: You maybe you have in your savings yet, but no,

640
00:30:37,560 --> 00:30:38,640
Speaker 3: you don't have any much I.

641
00:30:38,640 --> 00:30:41,479
Speaker 2: Get in my savings account. I have no houses, no houses,

642
00:30:42,000 --> 00:30:45,440
Speaker 2: have no assets. All right, I'm in, But of course

643
00:30:45,520 --> 00:30:47,880
Speaker 2: I want to give everybody a remind. I feel like

644
00:30:48,000 --> 00:30:51,760
Speaker 2: this could very easily teeter onto financial advice. But you're

645
00:30:51,800 --> 00:30:53,240
Speaker 2: not going to see it that way, are you. No,

646
00:30:53,680 --> 00:30:57,000
Speaker 2: I'm going to answer these questions. For me, this is

647
00:30:57,080 --> 00:30:59,840
Speaker 2: what I would do personally if I was starting over

648
00:31:00,040 --> 00:31:02,160
Speaker 2: with the knowledge and the skills and the research and

649
00:31:02,280 --> 00:31:05,640
Speaker 2: the tools that I have now for me personally, Yes,

650
00:31:05,920 --> 00:31:09,440
Speaker 2: not what somebody who has the same five hundred dollars

651
00:31:09,480 --> 00:31:10,960
Speaker 2: we might. I don't know what your example is going

652
00:31:11,000 --> 00:31:13,720
Speaker 2: to be, but not what everyone should do, what Victoria

653
00:31:13,800 --> 00:31:16,760
Speaker 2: would do. Okay, Okay, it's just a great idiot because

654
00:31:16,800 --> 00:31:19,280
Speaker 2: I feel like I don't want to give financial advice.

655
00:31:19,320 --> 00:31:22,720
Speaker 2: I don't need to start my twenty twenty six off

656
00:31:22,920 --> 00:31:26,040
Speaker 2: with an accusage. No, just we don't need it. We

657
00:31:26,240 --> 00:31:28,440
Speaker 2: don't need that idea. The energy were welcome.

658
00:31:28,960 --> 00:31:33,720
Speaker 3: Yeah, So this is purely Victoria's kind of advice for

659
00:31:33,800 --> 00:31:35,240
Speaker 3: herself and not for anyone else.

660
00:31:35,440 --> 00:31:37,480
Speaker 2: It's not advice, it's just what a Victoria would do.

661
00:31:37,520 --> 00:31:41,240
Speaker 2: It's what you would do. I wear rose gold jewelry,

662
00:31:41,320 --> 00:31:44,040
Speaker 2: but not everyone likes rose gold jewels exactly.

663
00:31:44,360 --> 00:31:47,080
Speaker 3: Exactly, Okay, So a few other points to give in

664
00:31:47,160 --> 00:31:49,040
Speaker 3: mind for the rest of this episode. Also, you are

665
00:31:49,720 --> 00:31:53,480
Speaker 3: like a typical she's the money community member. So you

666
00:31:53,560 --> 00:31:57,040
Speaker 3: want financial freedom and to build wealth. You can't go

667
00:31:57,680 --> 00:31:59,640
Speaker 3: all in in the share market because you have other

668
00:31:59,680 --> 00:32:03,840
Speaker 3: fund your responsibilities too, but you can afford a small

669
00:32:04,000 --> 00:32:06,080
Speaker 3: amount each week. Okay, you have too much going on

670
00:32:06,160 --> 00:32:08,360
Speaker 3: in your life to make investing your whole personality.

671
00:32:08,720 --> 00:32:12,600
Speaker 2: Oh do you relate to that? Not really, No, it's

672
00:32:12,640 --> 00:32:14,480
Speaker 2: going to be hard because I feel like investing is

673
00:32:14,520 --> 00:32:18,000
Speaker 2: my whole personality. Feel free to come to brunch with me.

674
00:32:18,240 --> 00:32:21,880
Speaker 2: But I'm ready, I'm ready ready. Yeah, okay, Okay, definitely

675
00:32:22,000 --> 00:32:25,200
Speaker 2: not my personality you're talking about. I'm actually really cool.

676
00:32:25,560 --> 00:32:28,280
Speaker 3: She's really cool, you guys, I've become really really investing.

677
00:32:30,080 --> 00:32:32,440
Speaker 3: When we ask the community about why they were investing,

678
00:32:32,520 --> 00:32:35,200
Speaker 3: a few said they are prioritizing paying everything on their

679
00:32:35,240 --> 00:32:38,479
Speaker 3: mortgage instead. And I've already said that you have other

680
00:32:38,560 --> 00:32:41,719
Speaker 3: financial responsibilities. So let's say one of them is a mortgage.

681
00:32:41,760 --> 00:32:43,480
Speaker 2: Okay, I get to keep my house in this situation,

682
00:32:43,640 --> 00:32:44,680
Speaker 2: that's not exactly you do.

683
00:32:44,840 --> 00:32:47,760
Speaker 3: In this situation, would you, say, be putting a small

684
00:32:47,800 --> 00:32:49,640
Speaker 3: amount of money into the share market and why?

685
00:32:49,880 --> 00:32:50,840
Speaker 2: Yeah? Yeah I would?

686
00:32:51,040 --> 00:32:53,640
Speaker 3: Yeah, Okay, Okay, so I have a mortgage, you have

687
00:32:53,720 --> 00:32:56,080
Speaker 3: a more, you don't have you don't have heaps of

688
00:32:56,760 --> 00:32:57,720
Speaker 3: disposable income.

689
00:32:57,880 --> 00:32:59,960
Speaker 2: No, no, no, no, And but like in my person

690
00:33:00,080 --> 00:33:02,480
Speaker 2: no situation you've taken everything from me. But I still

691
00:33:02,560 --> 00:33:06,520
Speaker 2: have my mortgage. And even though my mortgage is very

692
00:33:06,680 --> 00:33:10,040
Speaker 2: large and it's a very big financial responsibility for my family,

693
00:33:10,720 --> 00:33:15,440
Speaker 2: I'm still investing. Yes, because Okay, if I had a

694
00:33:15,520 --> 00:33:18,640
Speaker 2: mortgage and had money left over after making those repayments.

695
00:33:18,640 --> 00:33:20,320
Speaker 2: Because like, also, there are going to be people in

696
00:33:20,400 --> 00:33:22,640
Speaker 2: our community, and this is me. They're not giving advice

697
00:33:22,680 --> 00:33:24,840
Speaker 2: on me. I'm like, oh, but caveat these caveat that.

698
00:33:25,040 --> 00:33:26,479
Speaker 2: They are going to be people in our community who

699
00:33:26,520 --> 00:33:28,160
Speaker 2: want to invest and have a mortgage, but they don't

700
00:33:28,160 --> 00:33:31,000
Speaker 2: have the free cash flow. That's cool. We've got to

701
00:33:31,040 --> 00:33:33,160
Speaker 2: do what we've got to do. But like in this example,

702
00:33:33,240 --> 00:33:35,800
Speaker 2: I've got my mortgage and I have free cash flow.

703
00:33:36,280 --> 00:33:39,080
Speaker 2: I'm just going to pretend I've got one hundred bucks

704
00:33:39,120 --> 00:33:41,960
Speaker 2: a month. Is that fair? Like that feels like a

705
00:33:42,040 --> 00:33:44,200
Speaker 2: good amount, but like not too much. But also some

706
00:33:44,280 --> 00:33:46,520
Speaker 2: people might not have a hundred, but some people might

707
00:33:46,560 --> 00:33:48,200
Speaker 2: have five hundred. But I feel like one hundred. It's

708
00:33:48,240 --> 00:33:50,120
Speaker 2: just a round number, all right, Yeah, that's so fair.

709
00:33:50,240 --> 00:33:51,680
Speaker 2: It could be a dollar last week, it could be

710
00:33:51,680 --> 00:33:53,760
Speaker 2: a dollar, it could be two dollars anyway, yep. But

711
00:33:53,840 --> 00:33:55,480
Speaker 2: if I had a mortgage and had that amount of

712
00:33:55,520 --> 00:33:57,880
Speaker 2: money left over, I'd still be putting it into the

713
00:33:58,000 --> 00:34:03,600
Speaker 2: share market because from a financial strategy perspective, I don't

714
00:34:03,600 --> 00:34:06,000
Speaker 2: want all of my wealth tied up in one asset.

715
00:34:06,960 --> 00:34:08,839
Speaker 2: I also, I am a very firm believer that your

716
00:34:08,880 --> 00:34:12,240
Speaker 2: family home is not an asset that can be relied

717
00:34:12,320 --> 00:34:15,840
Speaker 2: upon for wealth creation. Because even if we get to

718
00:34:15,960 --> 00:34:18,680
Speaker 2: sixty and my husband and I have paid off our

719
00:34:18,800 --> 00:34:22,320
Speaker 2: house in its entirety and were completely mortgage free, that

720
00:34:22,400 --> 00:34:25,160
Speaker 2: would be so hot, that would be really cool. But

721
00:34:25,840 --> 00:34:29,600
Speaker 2: if we're completely mortgage free, and let's pretend my house

722
00:34:29,719 --> 00:34:34,080
Speaker 2: is tripled in value, to access that value, I actually

723
00:34:34,280 --> 00:34:36,880
Speaker 2: have to sell my house and move somewhere else. I

724
00:34:36,920 --> 00:34:38,880
Speaker 2: don't want to sell my house. I want to have

725
00:34:39,000 --> 00:34:40,719
Speaker 2: other assets so I can stay in the house that

726
00:34:40,760 --> 00:34:43,319
Speaker 2: I've actually worked for the last thirty years to pay

727
00:34:43,400 --> 00:34:45,520
Speaker 2: off and I love, and I don't want to move.

728
00:34:45,960 --> 00:34:49,359
Speaker 2: And even if my house is worth triple, every other

729
00:34:49,440 --> 00:34:52,520
Speaker 2: house in the area is probably also worth triple. Yeah,

730
00:34:52,719 --> 00:34:55,759
Speaker 2: so I could sell my house and have a tree

731
00:34:55,840 --> 00:34:58,880
Speaker 2: change or a sea change, but I don't want to

732
00:34:58,920 --> 00:35:01,680
Speaker 2: do that. Most people don't write like you buy your

733
00:35:01,719 --> 00:35:03,920
Speaker 2: family home and you've created all these memories in it.

734
00:35:04,040 --> 00:35:06,560
Speaker 2: I don't want to have to sell that asset to

735
00:35:06,640 --> 00:35:08,719
Speaker 2: still be able to afford to live. I think it's

736
00:35:08,800 --> 00:35:12,040
Speaker 2: important to continue to invest on the side because if

737
00:35:12,080 --> 00:35:15,960
Speaker 2: you wait until your mortgage is feeling like really comfortable, go,

738
00:35:16,160 --> 00:35:20,920
Speaker 2: you're losing five, ten, maybe fifteen years of compounding interest.

739
00:35:21,640 --> 00:35:23,840
Speaker 2: That's money that your money makes. And at the moment,

740
00:35:24,239 --> 00:35:27,440
Speaker 2: my mortgage is sitting at about five percent and the

741
00:35:27,560 --> 00:35:29,960
Speaker 2: share market on average returns between nine point five and

742
00:35:30,040 --> 00:35:30,720
Speaker 2: eleven percent.

743
00:35:30,840 --> 00:35:31,040
Speaker 1: Yeah.

744
00:35:31,160 --> 00:35:33,719
Speaker 2: True, So if I'm going to pay stuff off, I'd

745
00:35:33,760 --> 00:35:36,680
Speaker 2: actually prefer to have my mortgage for a little bit longer, betch,

746
00:35:37,160 --> 00:35:39,279
Speaker 2: and be in debt for longer because it's good debts

747
00:35:39,320 --> 00:35:41,320
Speaker 2: creating wealth. It's like for a big asset, it's not

748
00:35:41,480 --> 00:35:44,719
Speaker 2: personal debt for sure, and also be investing alongside and

749
00:35:44,800 --> 00:35:48,840
Speaker 2: making my investing money work for me. So that means

750
00:35:48,920 --> 00:35:51,520
Speaker 2: that starting sooner would be a priority. So this extra

751
00:35:51,680 --> 00:35:54,640
Speaker 2: hundred dollars that I could afford to invest or I

752
00:35:54,680 --> 00:35:57,320
Speaker 2: could afford to put on my mortgage to me personally,

753
00:35:57,480 --> 00:35:59,240
Speaker 2: is going to have more power in the share market.

754
00:35:59,280 --> 00:36:01,080
Speaker 2: So I'm choosing to put it in the share market.

755
00:36:01,239 --> 00:36:04,000
Speaker 3: Yeah that makes sense, Okay, love that, love that. So

756
00:36:04,120 --> 00:36:06,160
Speaker 3: we've established that you do want to start investing in

757
00:36:06,200 --> 00:36:08,520
Speaker 3: twenty twenty six, what is the first thing you would do?

758
00:36:08,680 --> 00:36:11,000
Speaker 2: But it's just so unsexy. I thought that I was

759
00:36:11,040 --> 00:36:13,560
Speaker 2: going to become cool girl, but I've just gone back

760
00:36:13,560 --> 00:36:16,080
Speaker 2: to being nerdy girl. And that's fine. I'm actually going

761
00:36:16,160 --> 00:36:17,759
Speaker 2: to do a budget because, like if I want to

762
00:36:17,800 --> 00:36:20,040
Speaker 2: commit exciting, like I've said to you that I want

763
00:36:20,040 --> 00:36:22,080
Speaker 2: to commit to this one hundred dollars a month, But

764
00:36:22,840 --> 00:36:25,640
Speaker 2: have I worked out what my son's birthday presents are

765
00:36:25,719 --> 00:36:27,200
Speaker 2: going to be? Have I worked out what my car

766
00:36:27,320 --> 00:36:29,520
Speaker 2: insurance in red Roe for twenty twenty six is going

767
00:36:29,600 --> 00:36:32,719
Speaker 2: to be. Everything's going to change a bit, like you know,

768
00:36:32,880 --> 00:36:35,160
Speaker 2: when was the last time I renegotiated my phone plan?

769
00:36:35,280 --> 00:36:36,919
Speaker 2: So I want to do my budget and make sure

770
00:36:36,960 --> 00:36:39,080
Speaker 2: that if I said I have one hundred dollars, I

771
00:36:39,160 --> 00:36:42,160
Speaker 2: actually do. Because if you're putting money into the share market,

772
00:36:42,200 --> 00:36:43,520
Speaker 2: I don't want you to have to pull it out.

773
00:36:43,960 --> 00:36:45,479
Speaker 2: So we just want to make sure that the money

774
00:36:45,520 --> 00:36:48,400
Speaker 2: that we put aside we don't have to touch. So

775
00:36:48,600 --> 00:36:51,359
Speaker 2: I've decided I've done my budget and that number does

776
00:36:51,400 --> 00:36:53,640
Speaker 2: fit into my life, so I can do that, and

777
00:36:53,880 --> 00:36:56,200
Speaker 2: if you haven't done your budget yet, I'm so sorry.

778
00:36:56,960 --> 00:36:59,240
Speaker 2: I'll give you permission. You're having a date night with yourself,

779
00:37:00,160 --> 00:37:02,160
Speaker 2: like nice little ball of wine. If you don't jump, fine,

780
00:37:02,239 --> 00:37:05,239
Speaker 2: get a nice cup of tea. Go to my website

781
00:37:05,400 --> 00:37:08,520
Speaker 2: and download the free budget that is on there and

782
00:37:08,680 --> 00:37:11,600
Speaker 2: do that. I've made it as user friendly as possible. Ye, Like,

783
00:37:11,719 --> 00:37:14,440
Speaker 2: I promise it's not as overwhelming as you think it is.

784
00:37:14,719 --> 00:37:17,120
Speaker 2: It will show you very clearly what's coming in, what's

785
00:37:17,160 --> 00:37:18,800
Speaker 2: going out, and what's left that you can build this

786
00:37:18,920 --> 00:37:20,879
Speaker 2: habit with. And that's what I'm going to do. That's

787
00:37:21,040 --> 00:37:22,719
Speaker 2: like you're telling me, I'm starting from scratch. I've got

788
00:37:22,760 --> 00:37:24,279
Speaker 2: this mortgage, I don't know where my stuff is. I

789
00:37:24,280 --> 00:37:26,640
Speaker 2: don't know where my money is. I don't invest. But

790
00:37:26,920 --> 00:37:29,600
Speaker 2: once I've worked out that weekly or fortnightly or monthly number,

791
00:37:29,680 --> 00:37:33,520
Speaker 2: even if it's tiny, that becomes my starting point. Compounding

792
00:37:33,680 --> 00:37:36,120
Speaker 2: only works, beck if you stay in the game. That's

793
00:37:36,120 --> 00:37:37,719
Speaker 2: why we need to know what that number is and

794
00:37:37,800 --> 00:37:39,440
Speaker 2: then we don't pull it out because if you pull

795
00:37:39,480 --> 00:37:42,640
Speaker 2: it out fruitless. Yeah. I'm here to make money, and

796
00:37:42,640 --> 00:37:44,360
Speaker 2: I'm here to make my money make money, and I

797
00:37:44,440 --> 00:37:49,200
Speaker 2: want that to be consistent consistency matters more than your enthusiasm. Yeah,

798
00:37:49,239 --> 00:37:53,120
Speaker 2: you can be so excited, but if you haven't budgeted properly,

799
00:37:54,280 --> 00:37:58,200
Speaker 2: that excitement is going to turn into disappointment real quick. Next,

800
00:37:58,520 --> 00:38:01,120
Speaker 2: I would be making sure that my financeial foundations are

801
00:38:01,160 --> 00:38:03,600
Speaker 2: staying strong. So I'm not investing if I don't have

802
00:38:03,680 --> 00:38:06,400
Speaker 2: an emergency fund. So I'm just going to audit. Have

803
00:38:06,520 --> 00:38:07,839
Speaker 2: I got an emergency fund?

804
00:38:08,000 --> 00:38:08,239
Speaker 3: True?

805
00:38:08,880 --> 00:38:11,640
Speaker 2: Most people want between three and six months worth of expenses,

806
00:38:11,680 --> 00:38:12,920
Speaker 2: so I'm going to make sure my husband and I

807
00:38:13,040 --> 00:38:15,439
Speaker 2: have that before I start. I'm going to make sure

808
00:38:15,560 --> 00:38:17,920
Speaker 2: that I can pay my bills and cover all of

809
00:38:17,960 --> 00:38:21,080
Speaker 2: the essentials because I'm investing for the long term. Like,

810
00:38:21,200 --> 00:38:23,560
Speaker 2: I just don't want to be ever in a situation

811
00:38:23,719 --> 00:38:27,200
Speaker 2: where I am forced to sell my investments because life

812
00:38:27,239 --> 00:38:29,480
Speaker 2: through a curve ball my way. That's what your emergency

813
00:38:29,560 --> 00:38:33,279
Speaker 2: fund is for. Before I invest a single dollar as well,

814
00:38:34,200 --> 00:38:37,200
Speaker 2: I'd really want to be clear on my goals, because

815
00:38:37,239 --> 00:38:39,840
Speaker 2: your goals to side your strategy, not the other way around.

816
00:38:40,719 --> 00:38:44,080
Speaker 2: Because investing, if you've gone beck, I want to retire

817
00:38:44,120 --> 00:38:47,400
Speaker 2: at forty, that is very different in terms of strategy

818
00:38:47,680 --> 00:38:50,120
Speaker 2: than if you were like, well, actually, I'm investing so

819
00:38:50,280 --> 00:38:54,080
Speaker 2: that when my kids turn twenty five, I can give

820
00:38:54,080 --> 00:38:56,880
Speaker 2: them a house deposit. Yeah, Like that's a different strategy

821
00:38:56,960 --> 00:39:00,920
Speaker 2: again because they require different amounts and require different access points.

822
00:39:01,360 --> 00:39:05,319
Speaker 3: Absolutely, Okay, so this is kind of a big one.

823
00:39:05,480 --> 00:39:08,200
Speaker 3: We're now in like the we're now in the research phase.

824
00:39:08,600 --> 00:39:11,120
Speaker 3: I need to know what you're doing to avoid analysis

825
00:39:11,239 --> 00:39:14,520
Speaker 3: paralysis if if we're being real, I got a little

826
00:39:14,520 --> 00:39:16,600
Speaker 3: bit of that. Okay, so I'll play into that a

827
00:39:16,640 --> 00:39:19,239
Speaker 3: little bit. But that can't control our narrative. That can't

828
00:39:19,320 --> 00:39:24,840
Speaker 3: stop us. I'd be giving myself some boundaries. So in

829
00:39:24,960 --> 00:39:28,640
Speaker 3: the same way that if you're at UNI or if

830
00:39:28,640 --> 00:39:31,440
Speaker 3: you're at school and you have an assignment due so

831
00:39:31,719 --> 00:39:35,080
Speaker 3: crazy how you can whip out a whole assignment if

832
00:39:35,120 --> 00:39:35,600
Speaker 3: the due.

833
00:39:35,520 --> 00:39:38,640
Speaker 2: Date is Friday. We are giving ourselves a due date

834
00:39:38,719 --> 00:39:42,000
Speaker 2: of when we want to start investing. So we aren't

835
00:39:42,160 --> 00:39:43,880
Speaker 2: just talking about like, oh, I'm going to do my

836
00:39:44,040 --> 00:39:46,800
Speaker 2: hundred dollars a month. We are talking I'm going to

837
00:39:46,840 --> 00:39:48,279
Speaker 2: do one hundred dollars a month, and I want to

838
00:39:48,280 --> 00:39:52,480
Speaker 2: make my first investment by the twenty eighth of February. Well,

839
00:39:52,600 --> 00:39:54,600
Speaker 2: you know what, that's too far away. By the end

840
00:39:54,680 --> 00:39:58,520
Speaker 2: of January and you can then go learn all of

841
00:39:58,560 --> 00:40:03,239
Speaker 2: the basics of ETFs of diversification, understand the fees, like

842
00:40:03,320 --> 00:40:04,799
Speaker 2: you're going to spend a couple of hours on these,

843
00:40:04,880 --> 00:40:07,839
Speaker 2: probably like just deep diving, hopefully on your laptop while

844
00:40:07,880 --> 00:40:10,399
Speaker 2: you watch like Real Housewives of Salt Lake City, which

845
00:40:10,440 --> 00:40:12,480
Speaker 2: I'm obsessed with, and then you're going to make a

846
00:40:12,520 --> 00:40:16,600
Speaker 2: few decisions. The decisions that you make today for these

847
00:40:16,719 --> 00:40:20,760
Speaker 2: ETFs might not align to future you, and that is okay,

848
00:40:20,880 --> 00:40:23,799
Speaker 2: because they're going to teach you what future you wants. Yeap,

849
00:40:24,920 --> 00:40:29,000
Speaker 2: Beginners don't need to understand everything. Beginners just need to

850
00:40:29,160 --> 00:40:32,760
Speaker 2: understand enough to be dangerous. You just need to understand

851
00:40:32,960 --> 00:40:37,640
Speaker 2: enough to get started. My mum used to always tell me, Victoria,

852
00:40:37,680 --> 00:40:39,399
Speaker 2: you do not need to know everything in the world,

853
00:40:39,880 --> 00:40:42,640
Speaker 2: but you need to know enough to be dangerous. And

854
00:40:42,680 --> 00:40:45,560
Speaker 2: I'll be like, what does that mean? And basically, I

855
00:40:45,719 --> 00:40:47,480
Speaker 2: just need to know enough about everything so that I

856
00:40:47,520 --> 00:40:50,080
Speaker 2: could walk into a meeting. Let's pretend I'm walking into

857
00:40:50,120 --> 00:40:51,719
Speaker 2: a meeting because I'm building a brand new house with

858
00:40:51,760 --> 00:40:53,960
Speaker 2: an architect. I need to kind of know what he

859
00:40:54,120 --> 00:40:56,799
Speaker 2: does as his job. You know what the biggest pitfalls

860
00:40:56,840 --> 00:40:59,000
Speaker 2: in the industry are and the questions I need to

861
00:40:59,040 --> 00:41:00,560
Speaker 2: ask him. I don't need to know how he does

862
00:41:00,600 --> 00:41:02,399
Speaker 2: his job, but I need to be able to walk

863
00:41:02,480 --> 00:41:04,840
Speaker 2: in and decipher whether he's the architect for me or not.

864
00:41:05,400 --> 00:41:06,799
Speaker 2: I need to go in and be like, oh, cool,

865
00:41:06,840 --> 00:41:09,520
Speaker 2: so how did your last project finish? Or hey, so

866
00:41:09,719 --> 00:41:12,520
Speaker 2: what would this look like? Or what hidden fees and

867
00:41:12,640 --> 00:41:15,839
Speaker 2: expenses might exist in this process? For me, you need

868
00:41:15,920 --> 00:41:17,799
Speaker 2: to know enough to ask the questions that are going

869
00:41:17,840 --> 00:41:19,960
Speaker 2: to cover your butt. Yeah, but you don't need to

870
00:41:20,040 --> 00:41:23,080
Speaker 2: know the ins and outs of absolutely everything. Okay, and

871
00:41:23,200 --> 00:41:26,719
Speaker 2: that is fine. We have created and you know not

872
00:41:26,800 --> 00:41:29,480
Speaker 2: gonna be surprised by this another playlist on Spotify, but

873
00:41:29,600 --> 00:41:32,400
Speaker 2: it is the investing playlist with all of our investing

874
00:41:32,480 --> 00:41:34,680
Speaker 2: episodes that I will make sure he is in the

875
00:41:34,719 --> 00:41:37,520
Speaker 2: show notes for you. But we also have an investing

876
00:41:37,600 --> 00:41:39,839
Speaker 2: resource hub on our website that I will link as

877
00:41:39,840 --> 00:41:44,759
Speaker 2: well with heaps of free resources money win. I also

878
00:41:44,880 --> 00:41:49,000
Speaker 2: want to narrow my options early, so like analysis paralysis

879
00:41:49,040 --> 00:41:53,000
Speaker 2: happens when we stay way too diversified for too long,

880
00:41:53,520 --> 00:41:56,840
Speaker 2: like as in our thoughts not diversified in the share market,

881
00:41:56,920 --> 00:42:00,160
Speaker 2: but like you're looking at, let's say, instead of researchach

882
00:42:00,360 --> 00:42:04,360
Speaker 2: twenty five different ETFs. That's wild. I would never I

883
00:42:04,440 --> 00:42:07,000
Speaker 2: didn't even use to research twenty five ETFs for my

884
00:42:07,120 --> 00:42:11,200
Speaker 2: clients when I was a financial advisor. Beck, that's astronomical. Yeah,

885
00:42:11,440 --> 00:42:14,320
Speaker 2: I'd actually be going, okay, cool, what are my values?

886
00:42:14,760 --> 00:42:16,320
Speaker 2: Oh what are my resources like?

887
00:42:16,560 --> 00:42:16,800
Speaker 4: For me?

888
00:42:17,080 --> 00:42:19,439
Speaker 2: I already know in my head that I would want

889
00:42:20,239 --> 00:42:25,000
Speaker 2: something Australian, and then I probably want some international market diversification.

890
00:42:25,600 --> 00:42:27,640
Speaker 2: So I'm going to narrow those options early, and I'm

891
00:42:27,680 --> 00:42:30,120
Speaker 2: going to take a look at a few Australian ETFs,

892
00:42:30,440 --> 00:42:33,759
Speaker 2: a few global ones, compare those and pick from it.

893
00:42:33,880 --> 00:42:36,040
Speaker 2: And that's it. We're not looking at twenty five options.

894
00:42:36,320 --> 00:42:38,400
Speaker 3: No, if you can help it.

895
00:42:39,000 --> 00:42:40,879
Speaker 2: And I mean, I've definitely looked at more than twenty

896
00:42:40,920 --> 00:42:43,400
Speaker 2: five options. But you shouldn't even have twenty five options

897
00:42:43,440 --> 00:42:46,439
Speaker 2: in your portfolio. So whatever the temptation is, a deep

898
00:42:46,560 --> 00:42:50,480
Speaker 2: dive every single technical detail because you want to feel empowered,

899
00:42:50,600 --> 00:42:53,280
Speaker 2: is going to be really strong, especially for women, because

900
00:42:53,320 --> 00:42:56,920
Speaker 2: we are so conditioned to feeling like we need to

901
00:42:57,000 --> 00:43:00,839
Speaker 2: know everything back before we even get started. Go you don't,

902
00:43:01,200 --> 00:43:03,520
Speaker 2: you actually don't. Some of the best investors I know

903
00:43:03,640 --> 00:43:06,120
Speaker 2: were like, oh, so yeah, I just heard about this

904
00:43:06,239 --> 00:43:09,920
Speaker 2: app one time downloaded it. You just looked up Australian

905
00:43:10,000 --> 00:43:12,600
Speaker 2: ETF and now my portfolio is like, I don't know

906
00:43:12,640 --> 00:43:15,920
Speaker 2: one hundred grand And you're like, how exactly where did

907
00:43:15,960 --> 00:43:19,200
Speaker 2: you get the audacity your first investment. Yeah, it's just

908
00:43:19,239 --> 00:43:22,240
Speaker 2: a starting point. It's not a lifelong commitments getting married

909
00:43:22,280 --> 00:43:22,440
Speaker 2: to it.

910
00:43:22,760 --> 00:43:25,120
Speaker 3: No, you can change it any time. So what are

911
00:43:25,160 --> 00:43:27,200
Speaker 3: the three things you would make sure you understand before

912
00:43:27,320 --> 00:43:28,680
Speaker 3: you started me?

913
00:43:29,360 --> 00:43:32,279
Speaker 2: Okay, I want to understand me before you even look

914
00:43:32,320 --> 00:43:35,200
Speaker 2: at a platform, before you even look at an ETF,

915
00:43:35,320 --> 00:43:39,720
Speaker 2: before you even understand what ETF means. What's your risk profile?

916
00:43:40,680 --> 00:43:43,880
Speaker 2: Are you a real conservative or are you really risky?

917
00:43:44,560 --> 00:43:48,680
Speaker 2: I'm pretty risky. For this, We'll just pretend I'm mediocre,

918
00:43:49,080 --> 00:43:51,080
Speaker 2: like and I'm sitting in the middle, which I feel

919
00:43:51,120 --> 00:43:53,960
Speaker 2: like most of our shees on the money community are

920
00:43:54,000 --> 00:43:57,279
Speaker 2: sitting in a growth like situation because I've surveyed so

921
00:43:57,440 --> 00:44:00,960
Speaker 2: many of you. But your risk profile isn't about being

922
00:44:01,320 --> 00:44:04,799
Speaker 2: brave or being cautious. It's actually about knowing how much

923
00:44:05,000 --> 00:44:09,560
Speaker 2: movement you can emotionally tolerate. Yeah, the market is psychological

924
00:44:10,320 --> 00:44:13,080
Speaker 2: and you hate to hear it, but it's literally psychological

925
00:44:13,640 --> 00:44:15,680
Speaker 2: and you need to work out how much you can

926
00:44:15,760 --> 00:44:21,479
Speaker 2: emotionally tolerate losing without panicking or feeling really tempted to sell.

927
00:44:21,880 --> 00:44:23,640
Speaker 2: Because if I said to you, Beck, sign into your

928
00:44:23,640 --> 00:44:25,480
Speaker 2: Shares's account right now, have a look. You think it's

929
00:44:25,480 --> 00:44:28,359
Speaker 2: at about fourteen hundred dollars, how would you feel if

930
00:44:28,400 --> 00:44:29,680
Speaker 2: it was under one thousand dollars.

931
00:44:30,200 --> 00:44:31,680
Speaker 3: It would be scary, but I think I would be like,

932
00:44:31,880 --> 00:44:32,960
Speaker 3: this is a good time to buy.

933
00:44:33,040 --> 00:44:37,200
Speaker 2: Okay, And that's the right mindset. You'll feel that pit

934
00:44:37,360 --> 00:44:39,560
Speaker 2: in the bottom of their stomach and freak out and

935
00:44:39,719 --> 00:44:41,560
Speaker 2: be like, oh my god, I need to get out,

936
00:44:41,600 --> 00:44:43,680
Speaker 2: I need to sell. We need more education in that

937
00:44:43,760 --> 00:44:46,440
Speaker 2: particular situation. But we need to know how much you

938
00:44:46,480 --> 00:44:49,160
Speaker 2: can tolerate it going up and down, because yes, it's

939
00:44:49,200 --> 00:44:51,320
Speaker 2: so exciting when you log in and maybe that fourteen

940
00:44:51,440 --> 00:44:53,799
Speaker 2: hundred dollars was sixteen hundred dollars, you'll be like, oh

941
00:44:53,840 --> 00:44:58,239
Speaker 2: my god, sligh, but like you can equally lose money. Yeah,

942
00:44:58,440 --> 00:45:01,040
Speaker 2: And it's the EBB and the flow of every day

943
00:45:01,080 --> 00:45:03,239
Speaker 2: that we need to understand. So your risk profile is

944
00:45:03,280 --> 00:45:06,359
Speaker 2: really important. I'd also want to understand, well, what does

945
00:45:06,440 --> 00:45:09,920
Speaker 2: normal market behavior look like? Because you know how I say, Oh,

946
00:45:09,960 --> 00:45:12,040
Speaker 2: what can you tolerate? You're like, why would you be

947
00:45:12,200 --> 00:45:15,720
Speaker 2: asking me what would happen if my share portfolio dropped

948
00:45:15,760 --> 00:45:18,239
Speaker 2: in value by twenty percent tomorrow? Right, It's just to

949
00:45:18,480 --> 00:45:20,640
Speaker 2: give you an example. But like, go look at what

950
00:45:20,840 --> 00:45:25,359
Speaker 2: the market does. On average. The market crashes every seven years.

951
00:45:25,480 --> 00:45:28,759
Speaker 2: Can you handle that? Yeah? On average, the market ebbs

952
00:45:28,800 --> 00:45:33,920
Speaker 2: and flows. Sometimes Donald Trump says something wild and the

953
00:45:34,080 --> 00:45:38,120
Speaker 2: market goes insane. Go have a look at that and

954
00:45:38,280 --> 00:45:42,919
Speaker 2: see what happens after those events happen. Yeah, they recover. Yeah,

955
00:45:43,040 --> 00:45:46,000
Speaker 2: So I'm going to get really comfortable with that because

956
00:45:46,120 --> 00:45:49,800
Speaker 2: some people, when they see a drop, they might interpret

957
00:45:49,880 --> 00:45:52,680
Speaker 2: it in a way that they go, oh, my goodness,

958
00:45:52,760 --> 00:45:56,239
Speaker 2: something is wrong. But I don't interpret it that way.

959
00:45:57,160 --> 00:45:59,640
Speaker 2: I'd literally see it as part of how the market works.

960
00:46:00,000 --> 00:46:03,040
Speaker 2: If you know ahead of time that your investment I

961
00:46:03,200 --> 00:46:05,080
Speaker 2: guarantee beck one day you're going to log any and

962
00:46:05,120 --> 00:46:07,480
Speaker 2: you're going to be disappointed with it. It is going

963
00:46:07,560 --> 00:46:12,960
Speaker 2: to decline, and declines are expected, but they are also temporary.

964
00:46:13,360 --> 00:46:15,719
Speaker 2: You are far less likely to then sell on a

965
00:46:15,760 --> 00:46:17,960
Speaker 2: bad day and lock in a loss. And then the

966
00:46:18,040 --> 00:46:20,560
Speaker 2: last thing I want you to understand is diversification. You

967
00:46:20,640 --> 00:46:22,800
Speaker 2: are not putting all of your eggs in one basket.

968
00:46:23,160 --> 00:46:25,520
Speaker 2: It is really about spreading your money across lots of

969
00:46:25,600 --> 00:46:28,279
Speaker 2: different companies and markets so that you're not relying on

970
00:46:28,719 --> 00:46:33,520
Speaker 2: any single thing to perform perfectly. You just need overall

971
00:46:33,640 --> 00:46:37,480
Speaker 2: consistent performance from a market. It's one of literally the

972
00:46:37,560 --> 00:46:40,000
Speaker 2: simplest ways to manage risk. It's how I manage risk

973
00:46:40,080 --> 00:46:42,040
Speaker 2: in my portfolio. It's how every single one of my

974
00:46:42,120 --> 00:46:45,239
Speaker 2: ex financial advice clients managed risk. It's how anybody in

975
00:46:45,280 --> 00:46:49,359
Speaker 2: the market manages risks. Warren Buffett manages risk this way,

976
00:46:49,920 --> 00:46:53,600
Speaker 2: like everybody who's good in investing does this right, especially

977
00:46:53,680 --> 00:46:56,759
Speaker 2: when you are starting out, and broad ETF actually does

978
00:46:56,800 --> 00:46:58,759
Speaker 2: that for you automatically, so you don't even have to

979
00:46:58,800 --> 00:47:01,520
Speaker 2: think about it. Beck. So for me, I think it

980
00:47:01,640 --> 00:47:06,239
Speaker 2: comes down to those three things. So understanding myself, understanding

981
00:47:06,360 --> 00:47:09,480
Speaker 2: how markets move and what their behaviors look like or

982
00:47:09,520 --> 00:47:12,359
Speaker 2: what the behavior of a market looks like, and understanding

983
00:47:12,520 --> 00:47:16,120
Speaker 2: how diversification is a protection for me. And once I

984
00:47:16,239 --> 00:47:19,719
Speaker 2: have those pieces, I think that investing feels a lot

985
00:47:19,840 --> 00:47:22,200
Speaker 2: less overwhelming. Yeah okay, okay.

986
00:47:22,040 --> 00:47:24,360
Speaker 3: I love that. So what's something you wouldn't bother stressing

987
00:47:24,360 --> 00:47:26,920
Speaker 3: about at the start, I'm not picking a perfect investment.

988
00:47:27,000 --> 00:47:29,239
Speaker 2: Yeah, yeah, yeah, I'm just picking a investment. In fact,

989
00:47:29,239 --> 00:47:30,760
Speaker 2: a perfect investment doesn't exist.

990
00:47:31,000 --> 00:47:31,239
Speaker 3: Yeah.

991
00:47:31,480 --> 00:47:33,680
Speaker 2: If it did, i'd be so rich, beck, Yeah, because

992
00:47:33,680 --> 00:47:36,800
Speaker 2: I would have worked about But historically, and this is

993
00:47:36,880 --> 00:47:42,279
Speaker 2: backed by data, a basic diversified ETF has beaten like

994
00:47:42,440 --> 00:47:47,120
Speaker 2: it's performed better than most active investors over the long term.

995
00:47:47,480 --> 00:47:49,720
Speaker 2: So if you take an ETF, just one single product

996
00:47:50,000 --> 00:47:52,759
Speaker 2: and compare it to someone who is like going and

997
00:47:52,840 --> 00:47:56,080
Speaker 2: picking individual stocks and shares and trading them consistently and

998
00:47:56,120 --> 00:48:02,800
Speaker 2: looking their portfolio all the time, the ETF still does better. Yeah. Annoying, right, annoying.

999
00:48:03,400 --> 00:48:06,320
Speaker 2: But I also wouldn't stress about trying to time the

1000
00:48:06,400 --> 00:48:09,000
Speaker 2: market because like you didn't tell me that I had

1001
00:48:09,040 --> 00:48:11,320
Speaker 2: a really big lump sum that I need to invest.

1002
00:48:12,000 --> 00:48:15,000
Speaker 2: I'm just going to start investing tomorrow. I'm not worried, Like, yes,

1003
00:48:15,040 --> 00:48:17,080
Speaker 2: I need to understand what the market's doing, but I'm

1004
00:48:17,120 --> 00:48:19,040
Speaker 2: not going to go, oh, the market's down this week,

1005
00:48:19,080 --> 00:48:20,719
Speaker 2: all the market's up this week. I'm just going to

1006
00:48:20,800 --> 00:48:23,440
Speaker 2: chuck my first hundred bucks in and then I'm going

1007
00:48:23,480 --> 00:48:25,560
Speaker 2: to do that every month. Yeah, and I'm just going

1008
00:48:25,640 --> 00:48:29,680
Speaker 2: to do that consistently, because you cannot predict what the

1009
00:48:29,760 --> 00:48:31,719
Speaker 2: market is going to do next month. You are not

1010
00:48:31,840 --> 00:48:34,839
Speaker 2: going to predict the perfect moment to buy. Not even

1011
00:48:35,000 --> 00:48:38,279
Speaker 2: experts do that well. Sadly they don't want to hear that,

1012
00:48:38,400 --> 00:48:40,640
Speaker 2: but they don't do it well because you can't time

1013
00:48:40,719 --> 00:48:44,360
Speaker 2: the market. So starting now with very small, very consistent

1014
00:48:44,480 --> 00:48:49,080
Speaker 2: contributions is actually going to beat trying to time the market.

1015
00:48:49,440 --> 00:48:52,080
Speaker 2: In fact, if I might not get this start right,

1016
00:48:52,160 --> 00:48:53,520
Speaker 2: but I can find it for you to make an

1017
00:48:53,520 --> 00:48:55,920
Speaker 2: Instagram post about it. But if we look over a

1018
00:48:56,000 --> 00:48:59,759
Speaker 2: thirty year period of somebody who has tried to time

1019
00:48:59,800 --> 00:49:02,960
Speaker 2: them market and they miss the four biggest days in

1020
00:49:03,040 --> 00:49:06,560
Speaker 2: the market because they were like waiting the biggest day happened,

1021
00:49:06,600 --> 00:49:09,480
Speaker 2: they invested the next day, compared to somebody who just

1022
00:49:09,560 --> 00:49:12,360
Speaker 2: like dropped their money in every month consistently and didn't

1023
00:49:12,440 --> 00:49:15,920
Speaker 2: care those four biggest days make up more than fifty

1024
00:49:15,920 --> 00:49:19,759
Speaker 2: percent of their portfolio performance. Yeah, I see, so dumb,

1025
00:49:20,560 --> 00:49:22,759
Speaker 2: just invest consistently. I don't know how to tell you this.

1026
00:49:22,920 --> 00:49:24,000
Speaker 2: You can't time the market.

1027
00:49:24,360 --> 00:49:24,560
Speaker 1: Yeah.

1028
00:49:24,960 --> 00:49:28,360
Speaker 2: If somebody could time the market, beck, I would be

1029
00:49:28,600 --> 00:49:30,640
Speaker 2: deep diving and learning how to do that because I

1030
00:49:30,719 --> 00:49:32,440
Speaker 2: am nerdy as all get out, and I would want

1031
00:49:32,440 --> 00:49:35,200
Speaker 2: to do that myself, and I don't even do all

1032
00:49:35,520 --> 00:49:38,360
Speaker 2: days specific days, and just like that's the average of

1033
00:49:38,480 --> 00:49:41,399
Speaker 2: like how many days are Like it's insane. Just stay

1034
00:49:41,440 --> 00:49:42,600
Speaker 2: invested instantly.

1035
00:49:42,960 --> 00:49:45,359
Speaker 3: Another answer we got when we asked why people weren't

1036
00:49:45,360 --> 00:49:48,200
Speaker 3: investing was that they were stuck on the platform. So

1037
00:49:48,280 --> 00:49:51,000
Speaker 3: how are you choosing yours? And what features are you

1038
00:49:51,120 --> 00:49:51,640
Speaker 3: looking for?

1039
00:49:52,440 --> 00:49:56,719
Speaker 2: So platform is hard because I think investors care too

1040
00:49:56,840 --> 00:50:00,600
Speaker 2: much about which platform they use. Yeah, okay, so you go,

1041
00:50:00,880 --> 00:50:03,120
Speaker 2: oh my god, I'm gonna go and take the four

1042
00:50:03,160 --> 00:50:05,640
Speaker 2: biggest platforms in Australia and I'm going to compare them all,

1043
00:50:06,520 --> 00:50:09,200
Speaker 2: and then you start caring about the tiny nuances that

1044
00:50:09,280 --> 00:50:12,160
Speaker 2: you don't even understand and you get analysis paralysis when

1045
00:50:12,200 --> 00:50:17,239
Speaker 2: in reality, Download two, Download three, I don't care. Play

1046
00:50:17,320 --> 00:50:20,760
Speaker 2: with the app, see how the app performs. I invest

1047
00:50:20,840 --> 00:50:23,600
Speaker 2: on Chairza's, You invest on chair Za's. It wasn't the

1048
00:50:23,719 --> 00:50:25,960
Speaker 2: only And I have a lot of investing platforms, so

1049
00:50:26,080 --> 00:50:29,080
Speaker 2: I probably have upwards of like fifteen investing platforms just

1050
00:50:29,120 --> 00:50:30,759
Speaker 2: because I'm a nerd and I want to make sure

1051
00:50:30,800 --> 00:50:32,239
Speaker 2: that if like you, as a she'ese on the money,

1052
00:50:32,280 --> 00:50:35,400
Speaker 2: listener messages me and goes, oh, I'm with this niche one.

1053
00:50:35,480 --> 00:50:37,120
Speaker 2: I'm like, oh, I've had a turn. I have five

1054
00:50:37,160 --> 00:50:40,040
Speaker 2: bucks on that tax time is so trash for me.

1055
00:50:40,440 --> 00:50:42,520
Speaker 2: My accountant wants to kill me. I'm pretty sure because

1056
00:50:42,560 --> 00:50:44,960
Speaker 2: I'm like, here is all of my investing stuff, and

1057
00:50:45,080 --> 00:50:46,759
Speaker 2: he's like, why do you have five dollars on that

1058
00:50:46,840 --> 00:50:49,080
Speaker 2: random platform? I'm like, just like an access it, just

1059
00:50:49,080 --> 00:50:50,960
Speaker 2: so they can talk to my community about it. But

1060
00:50:51,160 --> 00:50:53,680
Speaker 2: like most of my money is sitting on chair Z's

1061
00:50:53,719 --> 00:50:56,000
Speaker 2: And the reason for that is I just like the app.

1062
00:50:56,200 --> 00:50:58,759
Speaker 2: I like the way that it works, I like it's interface,

1063
00:50:59,080 --> 00:51:02,239
Speaker 2: I like it it's re se and I know that

1064
00:51:02,440 --> 00:51:05,520
Speaker 2: through trial and error. Yeah, because I've downloaded them and

1065
00:51:05,600 --> 00:51:07,600
Speaker 2: how to play with them and decided that maybe isn't

1066
00:51:07,640 --> 00:51:10,840
Speaker 2: for me. And I really like practical things. So you

1067
00:51:11,040 --> 00:51:13,120
Speaker 2: might go, oh, I want to be with self Wealth,

1068
00:51:13,840 --> 00:51:17,400
Speaker 2: and I go, great, go with self Wealth. Minimum investment

1069
00:51:17,440 --> 00:51:20,600
Speaker 2: to even start on the platform's five hundred dollars. Yeah,

1070
00:51:20,960 --> 00:51:23,120
Speaker 2: Well that's probably not going to work because I already

1071
00:51:23,160 --> 00:51:24,759
Speaker 2: told you that I only have one hundred dollars a

1072
00:51:24,800 --> 00:51:27,400
Speaker 2: month in free cash flow, so that platform's probably not

1073
00:51:27,600 --> 00:51:31,000
Speaker 2: for me. Sure, That's fine because I actually don't want that.

1074
00:51:32,120 --> 00:51:37,319
Speaker 2: Maybe you're really interested in fees, like for me, pay

1075
00:51:37,400 --> 00:51:40,760
Speaker 2: peanuts get monkeys, So like, I'm not worried about getting

1076
00:51:40,800 --> 00:51:43,920
Speaker 2: the lowest fees. Ever, I'm worried about getting value in

1077
00:51:44,040 --> 00:51:45,160
Speaker 2: exchange for my fees.

1078
00:51:45,360 --> 00:51:45,560
Speaker 3: Sure.

1079
00:51:45,960 --> 00:51:48,279
Speaker 2: So if a platform is more expensive, but it gives

1080
00:51:48,320 --> 00:51:51,000
Speaker 2: me access to like additional research, and like I like

1081
00:51:51,160 --> 00:51:53,439
Speaker 2: the tools and the resources, and I'm investing more because

1082
00:51:53,480 --> 00:51:56,799
Speaker 2: of that. That's a good investment, right, So I want

1083
00:51:56,880 --> 00:51:59,840
Speaker 2: good value, not necessarily the cheapest. The cheapest platform on

1084
00:52:00,320 --> 00:52:02,759
Speaker 2: is pointless if I hate using it or I find

1085
00:52:02,800 --> 00:52:06,399
Speaker 2: it confusing or overwhelming, so it needs features that I want.

1086
00:52:07,239 --> 00:52:10,760
Speaker 2: I also personally want an app that's easy to navigate.

1087
00:52:10,880 --> 00:52:13,319
Speaker 2: I don't like again, and I'm not throwing self Wealth

1088
00:52:13,400 --> 00:52:15,920
Speaker 2: under the bus. I have Self Wealth then for years

1089
00:52:15,960 --> 00:52:18,520
Speaker 2: when I was a financial advisor, that was my primary platform.

1090
00:52:18,960 --> 00:52:21,520
Speaker 2: But they are definitely more old school. It's not got

1091
00:52:21,640 --> 00:52:25,120
Speaker 2: a good user interface on my phone. If I'm you know,

1092
00:52:25,560 --> 00:52:28,000
Speaker 2: on the train and I want to invest one hundred dollars,

1093
00:52:28,040 --> 00:52:29,600
Speaker 2: I can just do it through the Sharesy's app. So

1094
00:52:29,719 --> 00:52:32,280
Speaker 2: app was really important to me. And if it's clunky

1095
00:52:32,560 --> 00:52:34,440
Speaker 2: or I hate using it. I don't want to be

1096
00:52:34,480 --> 00:52:39,080
Speaker 2: put off investing. Yes, and then for me, I'm an

1097
00:52:39,080 --> 00:52:43,879
Speaker 2: adhd girlye. So automation is literally my savior. For some people,

1098
00:52:44,000 --> 00:52:46,560
Speaker 2: you really like doing it manually, pop off Queen, could

1099
00:52:46,680 --> 00:52:49,560
Speaker 2: never be me, Like, if we're talking about this hundred

1100
00:52:49,600 --> 00:52:51,640
Speaker 2: dollars back, I'm setting up a direct debit every month

1101
00:52:51,719 --> 00:52:53,120
Speaker 2: for the one hundred dollars and then I'm just like

1102
00:52:53,239 --> 00:52:56,720
Speaker 2: not thinking about it too deeply easy does the platform

1103
00:52:56,840 --> 00:52:59,600
Speaker 2: order invest? So automation for me is the biggest behavior

1104
00:52:59,680 --> 00:53:03,080
Speaker 2: hack for anything when it comes to your money. Cool. Yeah,

1105
00:53:03,440 --> 00:53:05,560
Speaker 2: So for me, like out of sight, out of mind,

1106
00:53:05,600 --> 00:53:07,280
Speaker 2: and if I forgot to do it and it immediately

1107
00:53:07,400 --> 00:53:10,520
Speaker 2: happens because I set it up last time. Yeah, things

1108
00:53:10,560 --> 00:53:13,359
Speaker 2: past me you're looking at for the future. Me absolutely.

1109
00:53:13,760 --> 00:53:17,400
Speaker 3: Okay, So it's time to make your first investment or investments.

1110
00:53:18,000 --> 00:53:19,120
Speaker 3: What are you choosing in? Why?

1111
00:53:19,400 --> 00:53:24,440
Speaker 2: Something really exotic and complicated? Okay, My first investment, honestly

1112
00:53:24,520 --> 00:53:28,000
Speaker 2: is so boring. I reckon. I would probably just pick

1113
00:53:28,080 --> 00:53:31,359
Speaker 2: one ETF. I know that in my portfolio. If I'm

1114
00:53:31,400 --> 00:53:34,120
Speaker 2: starting from scratch, I probably want at least two ETFs.

1115
00:53:34,760 --> 00:53:37,160
Speaker 2: I want an Australian one, and I want an international one,

1116
00:53:37,239 --> 00:53:39,759
Speaker 2: but I'm not going to split this early. I'm just

1117
00:53:39,840 --> 00:53:43,440
Speaker 2: going to get one. So I'm probably going to pick

1118
00:53:43,480 --> 00:53:45,560
Speaker 2: an Australian one just because it feels a little bit safer,

1119
00:53:45,600 --> 00:53:48,239
Speaker 2: a little bit less rocky. Not in a bad way,

1120
00:53:48,280 --> 00:53:51,000
Speaker 2: but like I just I live in Australia. I feel

1121
00:53:51,080 --> 00:53:53,920
Speaker 2: very comfortable with the list of brands on an Australian

1122
00:53:54,000 --> 00:53:56,840
Speaker 2: ETF because, like, they're brands I've seen and know, So

1123
00:53:56,960 --> 00:54:00,799
Speaker 2: my first investment's really boring. I'm looking probably for an

1124
00:54:00,880 --> 00:54:05,160
Speaker 2: ETF that's broad and diversified in a good way, so

1125
00:54:05,280 --> 00:54:07,560
Speaker 2: that I get exposure to a really big chunk of

1126
00:54:07,600 --> 00:54:13,800
Speaker 2: the market instantly. I'm looking Yeah, locally, it might be

1127
00:54:13,920 --> 00:54:17,120
Speaker 2: an ETF that tracks the Australian market, so it could

1128
00:54:17,160 --> 00:54:20,920
Speaker 2: be something like an ASX Top two hundred, so I

1129
00:54:21,080 --> 00:54:26,640
Speaker 2: might be investing in banks, mining, healthcare, retail companies that

1130
00:54:26,760 --> 00:54:28,960
Speaker 2: I interact with every day. That feels kind of comfy.

1131
00:54:29,960 --> 00:54:33,680
Speaker 2: Why Because at this stage we're not chasing returns. I'm

1132
00:54:33,800 --> 00:54:37,080
Speaker 2: just chasing consistency. Yeah, I'm trying to blow the market

1133
00:54:37,160 --> 00:54:39,160
Speaker 2: out of the water. Sure, we're trying to turn my

1134
00:54:39,160 --> 00:54:41,680
Speaker 2: one hundred dollars into one thousand dollars in the first year.

1135
00:54:42,560 --> 00:54:46,719
Speaker 2: Just one hundred dollars needs to be consistent and a

1136
00:54:46,800 --> 00:54:49,920
Speaker 2: broad ETF is going and give me that diversification. It's

1137
00:54:49,960 --> 00:54:52,320
Speaker 2: going to feel relatively low stress, and it's going to

1138
00:54:52,360 --> 00:54:54,960
Speaker 2: take the pressure off me to pick anything like perfect

1139
00:54:55,800 --> 00:54:58,400
Speaker 2: and it becomes the foundation that I can then build

1140
00:54:58,480 --> 00:55:02,560
Speaker 2: from later. I've created that habit and I feel more

1141
00:55:02,640 --> 00:55:06,040
Speaker 2: confident making decisions. I could maybe have a few things

1142
00:55:06,080 --> 00:55:07,840
Speaker 2: that are a little bit more fun, but I'm starting

1143
00:55:07,920 --> 00:55:08,920
Speaker 2: boring honestly.

1144
00:55:09,280 --> 00:55:11,320
Speaker 3: Yep. Now you go to it by but all of

1145
00:55:11,360 --> 00:55:14,040
Speaker 3: a sudden you freeze and you're overwhelmed by fear. What

1146
00:55:14,160 --> 00:55:15,680
Speaker 3: are you telling yourself to overcome this?

1147
00:55:16,239 --> 00:55:19,960
Speaker 2: Well, I'm not rescuing my life savings. If I am,

1148
00:55:20,000 --> 00:55:20,680
Speaker 2: I'm not doing it.

1149
00:55:21,080 --> 00:55:21,279
Speaker 3: Yeah.

1150
00:55:21,360 --> 00:55:23,280
Speaker 2: Like, if that one hundred dollars is your life savings,

1151
00:55:23,680 --> 00:55:26,840
Speaker 2: cut that out, Yeah, go build your emergency fund. Like

1152
00:55:27,000 --> 00:55:30,240
Speaker 2: I'm genuine about that too. Like investing is my biggest

1153
00:55:30,239 --> 00:55:32,680
Speaker 2: passion in life. You should not be doing it unless

1154
00:55:32,680 --> 00:55:37,200
Speaker 2: you have a level of foundational financial security. I'm putting

1155
00:55:37,880 --> 00:55:41,600
Speaker 2: I would argue a small manageable amount into a diversified

1156
00:55:41,760 --> 00:55:45,320
Speaker 2: investment so that I can learn by doing it. Do

1157
00:55:45,360 --> 00:55:47,600
Speaker 2: you know what if I lost absolutely everything? If I

1158
00:55:47,640 --> 00:55:50,440
Speaker 2: lost one hundred dollars, but I gained a heap of

1159
00:55:50,719 --> 00:55:53,719
Speaker 2: education and knew what to do better and different next time.

1160
00:55:54,080 --> 00:55:56,319
Speaker 2: I actually think that's a good deal of sal Yep.

1161
00:55:57,239 --> 00:56:01,200
Speaker 2: I'd remind myself that this isn't a lifelong commitment putting

1162
00:56:01,200 --> 00:56:04,640
Speaker 2: one hundred dollars into an ETF. I have spent more

1163
00:56:05,560 --> 00:56:10,960
Speaker 2: on espresso martinis for my girlfriends on a night out. Like,

1164
00:56:11,080 --> 00:56:13,839
Speaker 2: contextualize it. And if you're going Victoria, one hundred dollars,

1165
00:56:13,880 --> 00:56:16,960
Speaker 2: are you kidding? That's an astronomical amount. Don't start with that.

1166
00:56:17,160 --> 00:56:21,120
Speaker 2: Then start with five dollars. I think all of us

1167
00:56:21,200 --> 00:56:25,399
Speaker 2: can be relatively frivolous when it comes to money. What's

1168
00:56:25,400 --> 00:56:26,839
Speaker 2: your frivolous amount? Start there?

1169
00:56:27,360 --> 00:56:27,560
Speaker 3: Yep.

1170
00:56:27,760 --> 00:56:30,000
Speaker 2: If one hundred dollars feels too much, don't do it.

1171
00:56:30,600 --> 00:56:32,840
Speaker 2: Do it with twenty dollars and start there. Do it

1172
00:56:32,960 --> 00:56:34,959
Speaker 2: with ten dollars. Do it with the free ten dollars

1173
00:56:35,000 --> 00:56:36,920
Speaker 2: you can get if you use our discount code, like

1174
00:56:37,000 --> 00:56:39,200
Speaker 2: on a discount code, referral code, or whatever we want

1175
00:56:39,239 --> 00:56:41,800
Speaker 2: to call it. And I also would remind myself, like,

1176
00:56:41,880 --> 00:56:45,960
Speaker 2: this is really normal like being scared of something is normal.

1177
00:56:46,080 --> 00:56:49,160
Speaker 2: Every single investor feels that for the first time. Like

1178
00:56:49,480 --> 00:56:53,520
Speaker 2: you don't just go I'm amazing. I'm an amazing investor.

1179
00:56:54,160 --> 00:56:55,920
Speaker 2: I just invested my first one hundred dollars and I

1180
00:56:55,960 --> 00:56:59,759
Speaker 2: had no qualms and wasn't even worried. Just doesn't happen.

1181
00:56:59,800 --> 00:57:02,080
Speaker 2: You're always a little bit like, Oh, I just don't

1182
00:57:02,120 --> 00:57:05,160
Speaker 2: want to do the wrong thing. Yeah, who cares if

1183
00:57:05,200 --> 00:57:07,480
Speaker 2: you did the wrong thing, we can fix it later.

1184
00:57:07,600 --> 00:57:10,040
Speaker 2: I can sell that and buy something that's more in

1185
00:57:10,120 --> 00:57:12,399
Speaker 2: line with a different value set that you have. Yeah,

1186
00:57:12,760 --> 00:57:16,160
Speaker 2: And I'd remind myself of the research and go, oh

1187
00:57:16,200 --> 00:57:19,880
Speaker 2: my god, Victoria Devine, you are playing into the stereotype.

1188
00:57:20,360 --> 00:57:23,320
Speaker 2: Cut that out, because women score just as high on

1189
00:57:23,480 --> 00:57:28,400
Speaker 2: financial literacy as men. The thing that we underestimate is ourselves. Yeah,

1190
00:57:28,720 --> 00:57:30,320
Speaker 2: what are you doing in that moment when you're like, oh,

1191
00:57:30,320 --> 00:57:33,919
Speaker 2: I don't know what I'm doing underestimating yourself. So I'd

1192
00:57:33,960 --> 00:57:35,640
Speaker 2: have a good hard look in the mirror and be like,

1193
00:57:35,760 --> 00:57:38,080
Speaker 2: Victoria Devine, get it together. Fear does not mean that

1194
00:57:38,160 --> 00:57:40,080
Speaker 2: we are not ready. It just means that we care.

1195
00:57:41,080 --> 00:57:43,720
Speaker 2: And caring is cool. Yeah, I want you to care

1196
00:57:43,760 --> 00:57:46,120
Speaker 2: about your financial future. I want you to care about

1197
00:57:46,160 --> 00:57:49,480
Speaker 2: future you. You caring and you being fearful is because

1198
00:57:49,520 --> 00:57:51,600
Speaker 2: you want future you to be in a better position. Right,

1199
00:57:52,120 --> 00:57:53,960
Speaker 2: So you're scared to make that decision. I get it

1200
00:57:54,320 --> 00:57:57,760
Speaker 2: because we don't want to disadvantage ourselves. So true, but

1201
00:57:57,920 --> 00:58:01,360
Speaker 2: you're not what would Craig do? Exactly all Craig do.

1202
00:58:01,600 --> 00:58:05,560
Speaker 2: And finally, I would then remind myself that the hardest

1203
00:58:05,600 --> 00:58:08,800
Speaker 2: part is actually that first purchase. Yeah, once you press

1204
00:58:08,880 --> 00:58:12,960
Speaker 2: by once, then you're like, oh, okay, I'm in the game.

1205
00:58:13,160 --> 00:58:15,360
Speaker 2: I'm an investor, your investor. That's it.

1206
00:58:15,880 --> 00:58:17,920
Speaker 3: Then it becomes addictive for a little bit. So you've

1207
00:58:17,960 --> 00:58:20,320
Speaker 3: made your first investment. Now looking forward to the rest

1208
00:58:20,360 --> 00:58:22,000
Speaker 3: of the year, what are your goals in your first

1209
00:58:22,120 --> 00:58:23,920
Speaker 3: year and what are you putting in place to keep

1210
00:58:23,960 --> 00:58:25,360
Speaker 3: yourself on track throughout the year.

1211
00:58:25,520 --> 00:58:27,560
Speaker 2: As I said to you, I want to just be consistent.

1212
00:58:27,600 --> 00:58:30,480
Speaker 2: I'm not chasing massive returns. So I'm staying consistent and

1213
00:58:30,560 --> 00:58:33,520
Speaker 2: I'm automating it because can't be trusted. Yeah, and even

1214
00:58:33,520 --> 00:58:36,320
Speaker 2: if you can be trusted, just automate it. It makes

1215
00:58:36,320 --> 00:58:40,320
Speaker 2: your life easier. Let's life admin. Let's life admin more

1216
00:58:40,360 --> 00:58:43,720
Speaker 2: life better. You're also going to ignore the daily noise

1217
00:58:44,160 --> 00:58:45,840
Speaker 2: at the start. I get it. You're going to look

1218
00:58:45,880 --> 00:58:48,000
Speaker 2: at the investing app every day. It's fine, it's novel,

1219
00:58:48,040 --> 00:58:51,720
Speaker 2: it's new, Yeah, but like just don't consistently check it

1220
00:58:51,800 --> 00:58:55,160
Speaker 2: if it's fueling your anxiety. I'm going to add to

1221
00:58:55,240 --> 00:58:57,520
Speaker 2: my education slowly, so as you said, I'm just a

1222
00:58:57,600 --> 00:59:00,600
Speaker 2: community member. I'm not Victoria. I'm going to listen to

1223
00:59:00,640 --> 00:59:03,440
Speaker 2: my podcast maybe every week. I'm going to listen to

1224
00:59:03,600 --> 00:59:05,920
Speaker 2: a podcast, or I'm going to read an article, just

1225
00:59:06,000 --> 00:59:07,840
Speaker 2: one idea at a time. We're not trying to like

1226
00:59:08,640 --> 00:59:12,080
Speaker 2: oversaturate ourselves. Like you don't need to cram, like you're

1227
00:59:12,320 --> 00:59:14,920
Speaker 2: like going to an exam on Friday and you need

1228
00:59:15,000 --> 00:59:17,880
Speaker 2: to get as much information in as possible, in fact,

1229
00:59:18,280 --> 00:59:20,080
Speaker 2: all of that information. Did you ever do that at

1230
00:59:20,080 --> 00:59:23,280
Speaker 2: school where you just like crammed the night before, or

1231
00:59:23,360 --> 00:59:25,360
Speaker 2: you like crammed for a week and then had an

1232
00:59:25,440 --> 00:59:27,240
Speaker 2: exam and then if I asked you about it two

1233
00:59:27,280 --> 00:59:30,439
Speaker 2: weeks later, you forgot all the information. Absolutely, so dumb.

1234
00:59:30,600 --> 00:59:33,800
Speaker 2: Don't do that. Just small consistent pieces of information will

1235
00:59:33,800 --> 00:59:36,400
Speaker 2: stick better with you absolutely, And then build out an

1236
00:59:36,600 --> 00:59:40,440
Speaker 2: entire portfolio slowly, not immediately, So you know how I

1237
00:59:40,520 --> 00:59:43,600
Speaker 2: said before, like I want at least two ETFs in

1238
00:59:43,720 --> 00:59:46,200
Speaker 2: that because if I've only got a hundred bucks, but

1239
00:59:46,240 --> 00:59:48,560
Speaker 2: I'm going to purchase one to start with. So we're

1240
00:59:48,560 --> 00:59:51,280
Speaker 2: going to start with simple and then we can expand

1241
00:59:51,480 --> 00:59:53,760
Speaker 2: once our habit is strong. So you know, for the

1242
00:59:53,800 --> 00:59:56,360
Speaker 2: first couple of months, I might just do you know,

1243
00:59:56,480 --> 00:59:59,560
Speaker 2: my first month might be one hundred dollars on that,

1244
01:00:00,720 --> 01:00:02,520
Speaker 2: and then I might go, oh, I'm going to buy

1245
01:00:02,560 --> 01:00:04,960
Speaker 2: an international one the second month, so then I've got two,

1246
01:00:05,600 --> 01:00:07,920
Speaker 2: and then maybe every month after that, i might split

1247
01:00:08,000 --> 01:00:11,280
Speaker 2: it like fifty dollars in each, and then I might

1248
01:00:11,440 --> 01:00:14,440
Speaker 2: have I don't know, we'll get to one thousand dollars

1249
01:00:14,520 --> 01:00:17,520
Speaker 2: after like ten months, right then I might go, oh,

1250
01:00:17,640 --> 01:00:21,000
Speaker 2: maybe this month I'll do a little like satellite investment

1251
01:00:21,120 --> 01:00:23,640
Speaker 2: or something. Or I might buy a share that my

1252
01:00:23,720 --> 01:00:25,360
Speaker 2: friends and I've been talking about and I just want

1253
01:00:25,360 --> 01:00:27,080
Speaker 2: to have a little bit exposure. But I'm going to

1254
01:00:27,160 --> 01:00:29,640
Speaker 2: take ten bucks out of my one hundred dollars and

1255
01:00:29,680 --> 01:00:31,440
Speaker 2: I'm going to buy you know, might be a beauty

1256
01:00:31,480 --> 01:00:34,000
Speaker 2: company or something that we're both like really passionate about

1257
01:00:34,080 --> 01:00:35,800
Speaker 2: or something. I'm going to buy that. But I'm going

1258
01:00:35,840 --> 01:00:38,400
Speaker 2: to then still split the amount between my base because

1259
01:00:38,400 --> 01:00:40,800
Speaker 2: I want to have that core satellite approach. I want

1260
01:00:40,840 --> 01:00:43,920
Speaker 2: to have really strong foundation and then you can have

1261
01:00:44,040 --> 01:00:46,640
Speaker 2: fun too. But also, you don't have to have fun

1262
01:00:46,680 --> 01:00:48,560
Speaker 2: if you don't want to. If you're not an investing

1263
01:00:49,520 --> 01:00:51,520
Speaker 2: girly in the same way that I am, where I

1264
01:00:51,640 --> 01:00:54,400
Speaker 2: love deep diving on individual shares, you might be like,

1265
01:00:54,440 --> 01:00:56,160
Speaker 2: what's the point, Oh, you don't have to do the

1266
01:00:56,160 --> 01:00:58,720
Speaker 2: satellite part. You could just always have those two ETFs

1267
01:00:58,760 --> 01:01:00,960
Speaker 2: and you'll be fine coin sure. But if you want

1268
01:01:01,000 --> 01:01:03,479
Speaker 2: to have more fun because you've gotten interested in it, sure,

1269
01:01:03,520 --> 01:01:04,400
Speaker 2: then you can do that too.

1270
01:01:04,600 --> 01:01:07,160
Speaker 3: Absolutely, what is the one thought you were making. Victoria

1271
01:01:07,160 --> 01:01:09,600
Speaker 3: who's starting from scratch knows about that.

1272
01:01:09,720 --> 01:01:15,520
Speaker 2: It's boring, boring, boring wins, Yes, yes, absolutely, like simple

1273
01:01:16,040 --> 01:01:19,000
Speaker 2: it's usually the winner. Absolutely, And I don't want to

1274
01:01:19,080 --> 01:01:23,360
Speaker 2: tell you that because that sounds boring. But diversified strategy

1275
01:01:23,440 --> 01:01:26,240
Speaker 2: is going to get you further than trying to be clever. Yeah,

1276
01:01:26,560 --> 01:01:29,000
Speaker 2: you're trying to be clever. Sometimes it just falls over.

1277
01:01:29,600 --> 01:01:31,400
Speaker 2: One of the most powerful things that you can do

1278
01:01:31,480 --> 01:01:34,880
Speaker 2: when it comes to investing is time in the market.

1279
01:01:34,960 --> 01:01:37,600
Speaker 2: I can't yell that enough. It's time in the market.

1280
01:01:37,720 --> 01:01:40,040
Speaker 2: Not timing the market. The earlier you start, the less

1281
01:01:40,080 --> 01:01:42,400
Speaker 2: you will have to invest over the long term of

1282
01:01:42,480 --> 01:01:45,080
Speaker 2: your own money to get to your goal. Do it,

1283
01:01:45,520 --> 01:01:47,680
Speaker 2: get it, go invest What are you doing?

1284
01:01:47,960 --> 01:01:50,439
Speaker 3: This has been so motivating, and that's exactly the energy

1285
01:01:50,480 --> 01:01:52,439
Speaker 3: we want you to take into twenty twenty six. You're

1286
01:01:52,480 --> 01:01:55,200
Speaker 3: not behind, You've not missed your window. Your fresh start

1287
01:01:55,280 --> 01:01:56,720
Speaker 3: can literally be today right now.

1288
01:01:56,800 --> 01:01:59,320
Speaker 2: I think that there's this misconception that you feel behind

1289
01:01:59,440 --> 01:02:01,680
Speaker 2: and they go, oh, I'm starting from scratch, and we've

1290
01:02:01,760 --> 01:02:03,800
Speaker 2: used that a little bit today. You've been like the

1291
01:02:04,000 --> 01:02:06,360
Speaker 2: if you were starting from scratch, what would you do?

1292
01:02:06,640 --> 01:02:09,840
Speaker 2: And I don't love that terminology, Like, I'm not starting

1293
01:02:09,880 --> 01:02:12,920
Speaker 2: from Scratchbeck, I'm starting from here. Like I don't want

1294
01:02:12,960 --> 01:02:15,360
Speaker 2: you to feel like you're behind. You're not behind. If

1295
01:02:15,360 --> 01:02:18,600
Speaker 2: you've never invested before, you're not behind anybody. You're actually

1296
01:02:18,720 --> 01:02:21,440
Speaker 2: only competing with yourself. You're starting from here. So we're

1297
01:02:21,480 --> 01:02:23,480
Speaker 2: starting from today. It doesn't matter what you did before.

1298
01:02:24,120 --> 01:02:26,920
Speaker 2: So like, maybe we reframe that idea of starting from

1299
01:02:26,960 --> 01:02:29,800
Speaker 2: scratch and just going yes, I can have a fresh start,

1300
01:02:29,840 --> 01:02:32,200
Speaker 2: but I'm just starting from here. This is my investing

1301
01:02:32,240 --> 01:02:34,520
Speaker 2: journey and it starts here. For sure, and I think

1302
01:02:34,560 --> 01:02:39,160
Speaker 2: that that's really exciting. And if this episode hopefully has

1303
01:02:39,200 --> 01:02:42,440
Speaker 2: made you feel more confident about investing, please don't forget

1304
01:02:42,480 --> 01:02:45,200
Speaker 2: to hit subscribe, because we've got so much more investing

1305
01:02:45,320 --> 01:02:48,000
Speaker 2: content just like this planned for this year, and we

1306
01:02:48,120 --> 01:02:51,200
Speaker 2: are so excited about it. So let's make twenty twenty

1307
01:02:51,280 --> 01:02:55,320
Speaker 2: six like our rich Girl investing era. And if you

1308
01:02:55,520 --> 01:02:58,440
Speaker 2: can't wait, my friend, don't worry. Don't need heaps of

1309
01:02:58,520 --> 01:03:01,280
Speaker 2: new content. We have two full play lists of investing

1310
01:03:01,360 --> 01:03:04,320
Speaker 2: episodes that are planned right now. They're in the show notes.

1311
01:03:04,360 --> 01:03:06,840
Speaker 2: We've got all the episodes that we think you should

1312
01:03:06,920 --> 01:03:08,840
Speaker 2: start with as a beginner, and then all of our

1313
01:03:08,920 --> 01:03:12,520
Speaker 2: investing content in another playlist. So go and absorb that.

1314
01:03:12,800 --> 01:03:14,840
Speaker 2: We will see you on Friday, by guys.

1315
01:03:22,080 --> 01:03:24,600
Speaker 4: The advice shared on She's on the Money is general

1316
01:03:24,680 --> 01:03:28,520
Speaker 4: in nature and does not consider your individual circumstances. She's

1317
01:03:28,600 --> 01:03:32,000
Speaker 4: on the Money exists purely for educational purposes and should

1318
01:03:32,080 --> 01:03:35,240
Speaker 4: not be relied upon to make an investment or financial decision.

1319
01:03:35,600 --> 01:03:38,080
Speaker 4: If you do choose to buy a financial product, read

1320
01:03:38,080 --> 01:03:42,200
Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards

1321
01:03:42,280 --> 01:03:45,520
Speaker 4: your needs. Victoria Divine and she's on the money. Are

1322
01:03:45,600 --> 01:03:50,560
Speaker 4: authorized representatives of money sheper pty Ltd ABN three two

1323
01:03:50,680 --> 01:03:53,640
Speaker 4: one is six four nine two seven seven zero eight

1324
01:03:53,960 --> 01:03:56,480
Speaker 4: AFSL four five one two eight nine