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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 4: Hello, and welcome to a brand new you with She's

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Speaker 4: on the Money.

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Speaker 2: The Happy Yeah, Happy newv Oh my gosh, how exciting.

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Speaker 2: This is so exciting. I feel like the last five

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Speaker 2: years have like flown by. It wasn't just like the

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Speaker 2: last year. It's like the last five years. Do you

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Speaker 2: know twenty nineteen was five years ago?

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Speaker 4: I cannot believe that.

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Speaker 2: It's actually insane anyway, what are we doing? Beck?

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Speaker 4: Okay, so new year, knew you, knew me, knew us.

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Speaker 4: So obviously I feel like we're you know, setting intentions

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Speaker 4: and goals and those kind of go hand in hand.

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Speaker 4: We're seeing happy new year at this time of year.

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Speaker 2: Which I'm really excited about because side note, in two

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Speaker 2: days my Best Year Yet course is coming out and

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Speaker 2: it's essentially a course for setting goals and intentions. Oh,

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Speaker 2: not about investing, not about money. It's more like amazing

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Speaker 2: you know how sometimes I get like my ADHD side

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Speaker 2: gig things that happened. I was like, I'm going to

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Speaker 2: sit down with all of my friends and set some goals,

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Speaker 2: but like tangible ones so that we can set ourselves

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Speaker 2: up for the best year yet. So do that, or

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Speaker 2: we can talk more about money, which is obviously why

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Speaker 2: you're on this podcast, because we want to be the

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Speaker 2: best investor ever. Like it's your yet for being an investor.

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Speaker 4: I think it might be. I've got a good feeling

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Speaker 4: between twenty four.

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Speaker 2: Are you gonna start investing this year?

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Speaker 4: Be genuinely, Like I know you probably don't believe me,

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Speaker 4: but genuinely, I think I will.

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Speaker 2: I feel like you've had your toes like dipping sort

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Speaker 2: of in the water, even doing a bit more research. Yeah,

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Speaker 2: like you know, getting excited about it. Like now when

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Speaker 2: I talk to you about investing. You're not like wait, why,

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Speaker 2: You're like, where do I start? Which is really fun? Yes,

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Speaker 2: thank you, thank you for it's really fun, even if

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Speaker 2: you don't do it right now, like maybe even in

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Speaker 2: six months when you're actually ready, because how many times

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Speaker 2: do people go when's the best time to invest? The

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Speaker 2: best time to invest is when you're ready, Beck, Yes,

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Speaker 2: because otherwise it's overwhelming and you're going to back out

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Speaker 2: and run away. Yes, exactly. We don't want you doing

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Speaker 2: something early just because you think it's a good idea.

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Speaker 4: Absolutely, But that takes me to the point of the episode.

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Speaker 4: Today we are talking five ways to be better investor

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Speaker 4: in twenty twenty four. But in true She's on the

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Speaker 4: Money style, we want to make sure.

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Speaker 2: It's all sustainable. It's all they talk about, right, Like, Hi,

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Speaker 2: welcome to twenty twenty four Victoria Divine back on the

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Speaker 2: mic being a broken record again, like I love it.

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Speaker 2: But that's why we've got to talk about. You know,

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Speaker 2: when it comes to sustainability, it's not about investing in

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Speaker 2: sustainable shares. It's actually creating a strategy that's sustainable for you, Beck,

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Speaker 2: creating a strategy that you can commit to, because I

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Speaker 2: think there's this misconception still even in twenty twenty four,

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Speaker 2: that you have to have lots of money to be

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Speaker 2: an investor or, you have to be going big or

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Speaker 2: not bothering at all, whereas we don't need to go

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Speaker 2: big or go home. We actually just need to commit

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Speaker 2: to something small and continuous and sustainable, and that's what

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Speaker 2: this episode is about. Obviously, if you want to go

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Speaker 2: back and listen to our Ethically Investor podcast or our

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Speaker 2: sustainable investing podcasts, go do that. Will make sure that

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Speaker 2: you know they're linked in the show notes, but this

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Speaker 2: is more like an episode to make sure that you

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Speaker 2: beck and everyone listening is just really confident about going

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Speaker 2: into twenty twenty four because obviously we haven't heard from

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Speaker 2: the RBA yet. Slightly nice thing. They don't actually meet

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Speaker 2: in January, so like interest rates aren't going to go

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Speaker 2: up until February. Okay, so we've got a bit of time,

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Speaker 2: got a bit of time before the RBA have their

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Speaker 2: big board meeting. So obviously in December they were like, no,

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Speaker 2: we're going to give you a little bit of reprieve,

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Speaker 2: and we were like, thank you so much. Yes, they're

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Speaker 2: not going to stack it on us in January, but

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Speaker 2: in February, I think that we might get a rude surprise,

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Speaker 2: but that doesn't mean we can't thrive still. Yes, so

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Speaker 2: I think it's super, super exciting, And I mean, this

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Speaker 2: is not going to be like a Hey Beck, here's

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Speaker 2: actually a list of investments I think you should buy

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Speaker 2: to have your best year. Yet it's actually more of

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Speaker 2: a you know, give a gal a fish in your

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Speaker 2: feeder for a day, Teach a gal to fish, and

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Speaker 2: she'll teach the rest of you know, the community to fish,

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Speaker 2: and we'll all be better off for it, because that's

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Speaker 2: what we do here at She's on the money. Essentially,

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Speaker 2: when one of us rises, we all rise because we

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Speaker 2: all gain I guess a bit of confidence.

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Speaker 4: The ship rises with the tides. Orter Rely, we are

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Speaker 4: the tithe we are the tie tie, and our community

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Speaker 4: is the ship.

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Speaker 2: I mean, I could give you a list of my

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Speaker 2: favorite I guess shares, but I actually can't now I

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Speaker 2: think about it because I'm licensed to give general financial

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Speaker 2: advice legally not allowed. But I mean over the next year,

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Speaker 2: like last year, so obviously side note New Year. Knew

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Speaker 2: us very excited to be back on the show, but

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Speaker 2: like we sat down and did all this strategy for

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Speaker 2: she's on the money content for the next you know,

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Speaker 2: twelve months, there's a lot coming up, Like very excited.

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Speaker 2: There's so much stuff coming up on like you know,

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Speaker 2: picking shares and the right shares and like kind of

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Speaker 2: taking it to the next level, which I'm really excited about.

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Speaker 2: But this one's really more of a confidence episode, getting

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Speaker 2: you on the right track and at the end of

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Speaker 2: the day back even if I was like, all right,

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Speaker 2: well you know what, I will give you my favorite shares,

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Speaker 2: that actually only would help you in the short term,

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Speaker 2: not in the long term, because what happens in six

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Speaker 2: months when the markets change stressing out about what's going on,

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Speaker 2: So it would get me in trouble as well. So

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Speaker 2: we don't want to do that, of course. So my

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Speaker 2: job here is to get you educated, get you on

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Speaker 2: your journey, keep you on your journey, help build I guess,

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Speaker 2: your intuition around investing and the instincts that are gonna

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Speaker 2: last a lifetime when it comes to the investment world.

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Speaker 2: Before the breakback, we've got a lot to cover. But

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Speaker 2: before we get there, I'm actually going to give you

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Speaker 2: some things to think about to help you get into

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Speaker 2: an investment mindset, because this year, for me, it's all

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Speaker 2: about mindset. It's all about reframing about mindset, about making

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Speaker 2: sure that we're not comparing ourselves. I've talked so much

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Speaker 2: historically about comparison culture, and perhaps this year I'm more

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Speaker 2: passionate about it because I'm doing that a lot. Or

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Speaker 2: I found myself in the last six months, just like

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Speaker 2: really looking at other people and what they were achieving

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Speaker 2: and making myself feel bad about it. And I'm assuming

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Speaker 2: if I'm doing that, because social media is so prevalent.

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Speaker 2: You know, you're on TikTok, you're on Instagram all the time,

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Speaker 2: I'm assuming I'm not the only one. So let's get

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Speaker 2: over this. We're gonna have our best year yet. Like,

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Speaker 2: let's get on the right track. Let's do a little

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Speaker 2: bit of I guess an investment and mindset spring clean

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Speaker 2: so that we can all be super pumped for what

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Speaker 2: we can achieve and not be worrying so much about

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Speaker 2: what we haven't achieved yet, because that doesn't help us,

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Speaker 2: does it.

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Speaker 1: No?

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Speaker 2: Never, So after the break, then we're going to go

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Speaker 2: through my top five key things that are going to

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Speaker 2: help make you a better investor in twenty twenty four.

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Speaker 2: So I feel like I've written this out. Yeah, I

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Speaker 2: think it's gonna be powerful, beck yep, I think so.

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Speaker 4: I'm very excited for after break, but I'm also excited

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Speaker 4: for before break.

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Speaker 2: We're gonna be a bit more fluffy before break, but

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Speaker 2: before break, maybe I need to stop using the word fluffy.

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Speaker 2: We need to be more like. No, mindset's actually really important. Yes,

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Speaker 2: mindset is ninety percent of your or even ninety nine

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Speaker 2: percent of your investment journey. Like no, if you're not committed,

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Speaker 2: if you're not confident, if you aren't you know, trusting

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Speaker 2: your gut and actually doing the research, like, you're not

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Speaker 2: gonna have a good investment journey totally.

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Speaker 4: And you know what they say about mindset starts in

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Speaker 4: the vocal or something like that. Probably don't say did.

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Speaker 2: You just make that? I made that up? That's really good,

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Speaker 2: Thank you four no v.

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Speaker 4: So we know that historically men were more inclined to

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Speaker 4: invest than women, but what are the latest stats on that?

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Speaker 2: I mean, before we get there, men are more likely

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Speaker 2: to invest than women, probably because they get paid more

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Speaker 2: than us and have much, you know, money to play with.

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Speaker 2: Just an issue that come March, come international Women's Day

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Speaker 2: come equal Payday. I'm gonna be having some words with

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Speaker 2: you about women are better investors if we do the

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Speaker 2: research than men. But I'm not a whole. That is

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Speaker 2: a big call. Last year the ASX Australian Investors Study,

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Speaker 2: they surveyed five thousand, or around five thousand, five hundred

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Speaker 2: Australian adults and they found a few things that I

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Speaker 2: think you're interesting here. Fifty one percent of Australian adults

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Speaker 2: invest Oh isn't that cool? Fifty one percent percent more

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Speaker 2: than half, more than half. Forty two percent of those

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Speaker 2: are women.

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Speaker 4: Okay, okay, okay.

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Speaker 2: Obviously the stats aren't as exciting. So the average age

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Speaker 2: of an Australian investor beck Actually, guess what do you

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Speaker 2: think the average age of an Australian investor is.

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Speaker 4: I'm skewing younger. Oh yeah, I just I think twenty seven. No,

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Speaker 4: it's forty.

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Speaker 2: Seven, okay, which is really good because lots obviously we

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Speaker 2: have forty seven year old listeners. In fact, I got

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Speaker 2: a letter the other day, a handwritten letter, and written letter.

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Speaker 2: I cried for like two hours. Oh my goodness. A

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Speaker 2: woman in her seventies had written in and said that

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Speaker 2: she had finally started investing for her future. Whoa, and

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Speaker 2: it made my heart so full because there's obviously no

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Speaker 2: such thing as being too late.

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Speaker 4: Yeah.

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Speaker 2: But what excites me most about that stat, Beck, is

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Speaker 2: most of our community sit below that, so that she's

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Speaker 2: on the money. Community sits between the age of twenty

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Speaker 2: five and thirty five on average. Obviously, we have heaps

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Speaker 2: of outlies and absolutely everybody is welcome, but like we

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Speaker 2: as a co community are starting earlier than the average. Great,

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Speaker 2: you know what that does puts us significantly ahead. Like

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Speaker 2: that's epic to me, and it makes me so so

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Speaker 2: excited because it just means, Beck, our community is ahead

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Speaker 2: of the game, even if you haven't even started investing yet.

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Speaker 4: Yeah, I love that.

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Speaker 2: Will Genia says, look at us go Yeah.

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Speaker 4: Seriously, I'm really excited for so excited for everyone's future

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Speaker 4: right now. But often getting started speaking and getting started

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Speaker 4: that is kind of the worst part of the process.

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Speaker 2: Because everyone's putting it off until they're Ay.

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Speaker 4: That's why I've put off like literally the whole year.

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Speaker 2: But can you give away with three days into the year, Yeah,

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Speaker 2: I forgot what day was?

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Speaker 4: Oh my gosh, it's twenty twenty four.

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Speaker 2: I have've literally been been putting it off all years.

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Speaker 4: Yeah all ye all year three whole days. V But

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Speaker 4: can you give me and the community some tips on

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Speaker 4: how to make a start when you can't really get

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Speaker 4: started analysis paralysis?

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Speaker 2: Yeah exactly. We call it analysis paralysis. And you know what,

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Speaker 2: women are worse at this than men, Like men are

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Speaker 2: more likely to just like jump in, give it a crack,

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Speaker 2: no worries, mate, Yeah, I don't really know what I'm

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Speaker 2: going to do, but I'm going to make it up

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Speaker 2: as I go. That's not us, is it like we've

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Speaker 2: got more to lose? Yeah exactly, that's not us at all.

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Speaker 2: And what I see, I guess in our community is

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Speaker 2: our community picks up the information goes, oh my gosh,

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Speaker 2: I have never, you know, really thought about this before,

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Speaker 2: or it's never been presented in a way that's been

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Speaker 2: appealing to me before, And so they start diving into

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Speaker 2: the content.

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Speaker 1: Right.

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Speaker 2: They might read my books, they might read other finance

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Speaker 2: content creators books. You might be absorbing lots of different

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Speaker 2: podcasts like You've got She's on the Money, You've obviously

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Speaker 2: got my millennial money and a heap of I guess

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Speaker 2: other people in our network and Beck that to me

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Speaker 2: does beautiful things because it educates you and it makes

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Speaker 2: me so so excited because I know you're on the

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Speaker 2: right path. But sometimes you get a little bit too

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Speaker 2: deep and you go, all right, well, you know last

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Speaker 2: year they put out her top ten performing ETFs, and

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Speaker 2: then Glenn put out here, and a few other you know,

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Speaker 2: finance podcasts have started doing the same, and you start

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Speaker 2: comparing them and being really critical and then you go, oh,

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Speaker 2: they're not all the same, and they're never going to

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Speaker 2: be the same, Beck, like everybody in this space has

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Speaker 2: different opinions, different methodologies that they work with, and you

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Speaker 2: get what's called analysis paralysis, which is where you go,

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Speaker 2: I've been doing so much research, and I've been trying

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Speaker 2: so hard to become a good investor, and now I'm

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Speaker 2: more confused than ever because you're trying to get too

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Speaker 2: much into the nity gritty before even diving in. And

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Speaker 2: the best thing that you can do is actually pick

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Speaker 2: a platform first. Don't try and pick your first share

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Speaker 2: before picking a platform. Pick your platform, work out you

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Speaker 2: know the pros and cons of each platform, because they're

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Speaker 2: all very different. Pick the one that works for you,

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Speaker 2: and then start doing your research using that platform, not

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Speaker 2: using everybody else's opinions, because opinions they're like butttholes. Everyone

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Speaker 2: has them, and no one really cares about each other's, right,

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Speaker 2: Like I care about yours? Do you? Thank you so much?

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Speaker 2: I'm pregnant, So there's a lot going on. But I

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Speaker 2: think it's really important to not get analysis paralysis and

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Speaker 2: get too deep and think that you're going to mess

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Speaker 2: it up. Especially in the she's on the Money community,

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Speaker 2: we are always saying, beck, just start with five bucks,

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Speaker 2: Like we're not trying to risk your life savings. That's

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Speaker 2: a really dumb idea, because we want to build your

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Speaker 2: confidence over time. It's five bucks. I have lost more

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Speaker 2: on less, I promise, And like, don't get me wrong,

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Speaker 2: I'm not saying that five dollars isn't a lot of money,

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Speaker 2: especially like when you get to the end of the

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Speaker 2: month and there's still not enough money left. Yes, like

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Speaker 2: five bucks far out that can stretch, right.

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Speaker 4: That'll save your life, that'll save your bi like you

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Speaker 4: can buy a.

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Speaker 2: Lot of dry pasta for that. Pinitely, we need to

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Speaker 2: also realize that if you're on your investing journey, you've

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Speaker 2: probably got a few things set in place. You probably

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Speaker 2: have a budget, you have your cash flow sorted out,

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Speaker 2: you have a bit of an emergency fund. So that

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Speaker 2: five bucks that we're investing with for the first time, Beck,

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Speaker 2: it shouldn't impact your day to day life. It shouldn't

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Speaker 2: be the thing that is make or break. And if

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Speaker 2: it is, now's not the time to invest. Now's the

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Speaker 2: time to focus on you and maybe getting a little

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Speaker 2: bit of an emergency fund behind you, even if you

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Speaker 2: are really passionate about money. So I have four things

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Speaker 2: that I want you to consider here. Okay, So first things, first,

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Speaker 2: set yourself a deadline and make a decision, like just

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Speaker 2: do it, like do it, just do it, just do it.

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Speaker 2: If you have no timeline for when a decision needs

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Speaker 2: to be made, you're ultimately going to spend a lot

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Speaker 2: of time, just like I guess, waffling back and forth

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Speaker 2: between different options and then ultimately not making a decision.

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Speaker 2: So set yourself a deadline or a specific timeframe for

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Speaker 2: when that decision needs to be made. So, and I

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Speaker 2: want you to do this, true, Beck, great idea. I

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Speaker 2: want you to go all right, I know I'm going

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Speaker 2: to invest you know, my first five dollars by the

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Speaker 2: end of February. Yeah, but where you don't know right now,

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Speaker 2: but like at least you know that that deadline's coming up,

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Speaker 2: and you go, oh, I'm really going to have to

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Speaker 2: make a decision on where this is going. Otherwise it

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Speaker 2: will be June and then it will be September and

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Speaker 2: then it will be December and we'll be talking about

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Speaker 2: content for twenty twenty five. That's true.

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Speaker 4: Yes.

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Speaker 2: The second thing I want you to do is narrow

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Speaker 2: down your options early. So if you have an overwhelming

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Speaker 2: amount of options, which often we all do, get rid

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Speaker 2: of some of them right away. So like there might

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Speaker 2: be heaps of options on the table that you're like, oh,

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Speaker 2: that one's really nice, but it doesn't really suit me,

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Speaker 2: but I'm going to leave it on the table. She's

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Speaker 2: in the bin for now. Yeah, So figure out what

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Speaker 2: you want your expected outcome or decision to be, and

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Speaker 2: then get rid of any options that don't actually fit

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Speaker 2: the qualifications I suppose of this outcome. So if you're like, oh,

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Speaker 2: I really want good diversification and I don't want to

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Speaker 2: manage things actively myself, well let's get rid of all

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Speaker 2: of the direct shares and only focus on like the

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Speaker 2: ETFs or managed funds, because even if your friend said,

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Speaker 2: you know, NAB or BHP or an individual share is

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Speaker 2: a good option, that's not going to work for the

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Speaker 2: strategy that you've got. And I feel like so many

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Speaker 2: times when we're starting our investment journey, we like want

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Speaker 2: to take everybody's opinion into account. Well, beck, she's investing

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Speaker 2: in direct shares. Maybe I should copy her, because you know,

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Speaker 2: beckst a really good job. But if you then didn't

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Speaker 2: want to ultimately manage direct shares, well, why is it

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Speaker 2: still on the table? Why are we overwhelming ourselves? Right

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Speaker 2: that put in the bin? Put in the bin, don't

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Speaker 2: think twice number three, We're going to practice decision making quickly.

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Speaker 2: So this is where impulsivity, it's not the worst thing

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Speaker 2: in the entire world. You and I we are going

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Speaker 2: to thrive with this. Forot impulsive, I would get out.

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Speaker 4: I wouldn't have put impulsivity and investing investing in the

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Speaker 4: same sentence.

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Speaker 2: But hear me out, hear me out.

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Speaker 4: Okay.

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Speaker 2: The inconsequential things like deciding where to eat for dinner

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Speaker 2: or what path to take when you get to work

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Speaker 2: are going to help you be more decisive when you're

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Speaker 2: making bigger decisions. So when it comes down to it,

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Speaker 2: like if you're doing analysis paralysis on a few different

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Speaker 2: investing platforms and you've whittled it down to like three,

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Speaker 2: just pick one. I promise they're all going to be

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Speaker 2: very similar, Like, just pick one back if you don't

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Speaker 2: like it. Down the track, We're not trying to invest

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Speaker 2: your life savings. Swapping platforms is not going to be

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Speaker 2: the end of the world.

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Speaker 4: That is very, very true. It's like the start of

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Speaker 4: Pokemon when you have to pick any kind of one

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Speaker 4: of the three creatures.

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Speaker 2: Just do it. Yeah, just a Meani miney Mo situation exactly,

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Speaker 2: I really like to saying. And I feel like I've

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Speaker 2: embraced this a lot in the last six months. It's

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Speaker 2: not that deep, Beck, It's not that deep. Like when

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Speaker 2: making decisions on different things, I feel like I've been

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Speaker 2: really overwhelmed. And I mean it makes sense because in

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Speaker 2: the last six months, Beck, I've been preparing to have

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Speaker 2: a baby, and there's a lot of decisions that you

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Speaker 2: need to make, Like far out, everyone's got an opinion

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Speaker 2: on the snoo, which is like this automatic basinette for

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Speaker 2: your baby, like rocks your baby back to sleep, right,

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Speaker 2: Oh cozy, sounds great, but then you start reading mum forums,

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Speaker 2: and then you start listening to people on Instagram, and

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Speaker 2: then you're in some random mum Facebook group which you

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Speaker 2: never thought you were going to be in, and you're

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Speaker 2: taking all these opinions on and some people are like, Beck,

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Speaker 2: this snoo's the best thing that's ever happened to me

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Speaker 2: in my entire life. And then other moms are like,

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Speaker 2: I would never let my kid in a snooz. That's irresponsible.

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Speaker 2: You cannot have a bacinet rocking your baby back to

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Speaker 2: sleep when you should be connecting with them. You're like, oh, oh,

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Speaker 2: didn't think of it that way, and then someone else

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Speaker 2: is like, that's a very expensive basinet and my baby

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Speaker 2: hated it, and you're like, oh, what if that happens

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Speaker 2: to me? Like so, you're getting all these conflicting opinions

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Speaker 2: from different people, but in reality, what matters is whether

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Speaker 2: I want to do that or not. Sure not what

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Speaker 2: Shirley on an internet forum has said about how her

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Speaker 2: baby did it, because her baby's not actually going to

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Speaker 2: be my baby. And they're all different, and the same

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Speaker 2: goes for investing. Sometimes, Beck, you just got to pick one.

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Speaker 2: Give it a crack. Yep, that's so true. I did

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Speaker 2: get the snow. Did you get the snow? I got

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Speaker 2: the snow. We're going to give it a crack. I

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Speaker 2: love it. Do you think you could fit an adult

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Speaker 2: in there? Honestly, my husband's already like, do you reckon?

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Speaker 2: There's like an adult version of this? Seriously, that rocks

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Speaker 2: you back to sleep, right if it notices you're awake

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Speaker 2: as well, it gives you like sleep sounds. Oh that

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Speaker 2: is so considerate, so cute. And they get strapped in

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Speaker 2: in there like spottles, so they're really snuggy buggy. Oh

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Speaker 2: my god, I want an adult snow. Anyway. Moving on,

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Speaker 2: that's where we're talking about practicing decision making and you know,

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Speaker 2: being a bit impulsive. We're not saying be impulsive from

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Speaker 2: the start. We're saying, let yourself be impulsive. Once you've

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Speaker 2: done all of that research and you have your list,

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Speaker 2: you know what, you probably like all of the options

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Speaker 2: and they're all gonna work, right. Yeah, you deserve a

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Speaker 2: bit of impulsivity at that point. Not that deep. That deep,

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Speaker 2: and number four use a framework for your decision making process,

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Speaker 2: so believe it or not, there is a whole framework

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Speaker 2: for the decision making process. So by following a step

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Speaker 2: by step guide, you can actually help take away some

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Speaker 2: of the cognitive heavy work that's required to make a

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Speaker 2: really big decision. And you can find obviously lots of

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Speaker 2: resources online to help guide you through I guess the

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Speaker 2: steps to effective decision making. And I'm not giving you

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Speaker 2: a specific resource here because I think you should google

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Speaker 2: it yourselves and find a framework that kind of resonates

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Speaker 2: with you, because there's lots of them. So i would

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Speaker 2: google decision making framework and like then because I'm lazy,

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Speaker 2: and I'm also a visual click on images. Oh my god,

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Speaker 2: I do the same things. I don't want to read

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Speaker 2: all of the articles. I'm a click the images, and

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Speaker 2: I want to see what flow chart makes the most

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Speaker 2: sense for me, and then I will pick that one.

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Speaker 2: Because it actually doesn't matter which framework you use as

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Speaker 2: long as you're using something to get to an end destination. Yeah,

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Speaker 2: does that make sense?

432
00:20:21,119 --> 00:20:21,320
Speaker 1: Yeah?

433
00:20:21,359 --> 00:20:24,960
Speaker 2: Absolutely. I mean I'll probably post a decision making framework

434
00:20:25,160 --> 00:20:28,120
Speaker 2: sometime this week on our Instagram because I have one

435
00:20:28,160 --> 00:20:30,199
Speaker 2: that I like. You don't need to use that one,

436
00:20:30,280 --> 00:20:32,240
Speaker 2: you can use anyone. And I actually think it's really

437
00:20:32,280 --> 00:20:34,880
Speaker 2: important to have a look at like the different options

438
00:20:34,880 --> 00:20:37,280
Speaker 2: and methodologies that exist. I'm going to keep my keen

439
00:20:37,280 --> 00:20:39,080
Speaker 2: eye out for that. I'll send it to you direct.

440
00:20:39,400 --> 00:20:40,120
Speaker 2: Thank you so much.

441
00:20:40,160 --> 00:20:43,760
Speaker 4: No worries now that we've kind of gotten over analysis paralysis?

442
00:20:43,840 --> 00:20:44,480
Speaker 2: Oh over it?

443
00:20:44,800 --> 00:20:46,199
Speaker 4: Oh? Like probably not.

444
00:20:46,240 --> 00:20:48,360
Speaker 2: I think we're more aware of We're just not good

445
00:20:48,400 --> 00:20:49,119
Speaker 2: at dealing with it.

446
00:20:49,200 --> 00:20:49,400
Speaker 1: Yeah.

447
00:20:49,480 --> 00:20:51,840
Speaker 2: Yes, we've got the tools that we need.

448
00:20:51,680 --> 00:20:55,080
Speaker 4: To exactly exactly what would you say? The first step

449
00:20:55,160 --> 00:20:57,800
Speaker 4: is to getting ourselves into an investing mindset.

450
00:20:57,960 --> 00:21:00,880
Speaker 2: I just choose just a choice, that's right, Yeah.

451
00:21:00,880 --> 00:21:03,600
Speaker 4: Just choose investing mindset.

452
00:21:03,720 --> 00:21:06,280
Speaker 2: No, absolutely not. That's not how the world works. You

453
00:21:06,320 --> 00:21:10,280
Speaker 2: can't just decide to change your mindset. It's so much work, right,

454
00:21:10,920 --> 00:21:13,520
Speaker 2: It's like therapy, Like yeah, I mean, if we could

455
00:21:13,560 --> 00:21:16,240
Speaker 2: just choose to be mentally better, we would, wouldn't we?

456
00:21:16,440 --> 00:21:19,960
Speaker 2: I suppose anyway. That's what keeps my therapist in business.

457
00:21:20,359 --> 00:21:23,240
Speaker 2: But first things first, I would say, do your budget

458
00:21:23,280 --> 00:21:25,320
Speaker 2: and cash flow so we know what you're working with.

459
00:21:25,800 --> 00:21:28,680
Speaker 2: This is obviously really important at the start of this year,

460
00:21:29,080 --> 00:21:31,639
Speaker 2: but also before setting any goals, because do you know

461
00:21:31,680 --> 00:21:34,640
Speaker 2: how disheartening it is? And I'm sure you've experienced this before. Actually,

462
00:21:34,680 --> 00:21:38,400
Speaker 2: I know you've experienced this before, because late last year

463
00:21:38,440 --> 00:21:40,720
Speaker 2: you were talking about how you really wanted to go

464
00:21:40,760 --> 00:21:43,440
Speaker 2: to Meredith, and then you didn't go to Meredith because

465
00:21:43,480 --> 00:21:45,640
Speaker 2: your budget didn't allow for it, and you're like, oh,

466
00:21:45,680 --> 00:21:48,760
Speaker 2: I probably shouldn't do this, but like you were all like,

467
00:21:48,920 --> 00:21:52,000
Speaker 2: I'm going, I'm going, I'm going. Didn't have a ticket yet,

468
00:21:52,000 --> 00:21:53,920
Speaker 2: but like you were going, you were going, and then

469
00:21:53,960 --> 00:21:56,399
Speaker 2: it came closer to the date and you realized, I

470
00:21:56,480 --> 00:22:00,000
Speaker 2: think quite quickly, oh, I actually don't have the budget

471
00:22:00,200 --> 00:22:03,479
Speaker 2: for this. And as much as you, I guess from memory,

472
00:22:03,560 --> 00:22:05,359
Speaker 2: took that in your stride, you were like, you know what,

473
00:22:05,520 --> 00:22:08,080
Speaker 2: I'm really proud of myself for making that decision. But

474
00:22:08,160 --> 00:22:10,359
Speaker 2: if you've done your budget and cash flow and known

475
00:22:10,440 --> 00:22:13,159
Speaker 2: what additional income you had to I guess do that

476
00:22:13,200 --> 00:22:16,040
Speaker 2: would be I can almost guarantee you would have gone

477
00:22:16,119 --> 00:22:18,280
Speaker 2: to Meredith because there was like a plan in place

478
00:22:18,320 --> 00:22:20,960
Speaker 2: and were working towards it. And it's just a good example.

479
00:22:21,040 --> 00:22:23,479
Speaker 2: It's not a good or a bad thing. We just

480
00:22:23,560 --> 00:22:25,880
Speaker 2: all know that Besied buries her head in the sand

481
00:22:25,880 --> 00:22:28,719
Speaker 2: when it comes to budget still, and one of my

482
00:22:28,760 --> 00:22:30,800
Speaker 2: goals for this year is to sit your sorry button

483
00:22:30,840 --> 00:22:33,359
Speaker 2: down and go through it with you know me too well.

484
00:22:33,400 --> 00:22:36,440
Speaker 2: But it's really important to do this before setting goals,

485
00:22:36,440 --> 00:22:38,840
Speaker 2: because there's nothing more disheartening than going, oh, I don't

486
00:22:38,840 --> 00:22:40,600
Speaker 2: get to do that anymore, and I really want to

487
00:22:40,600 --> 00:22:42,920
Speaker 2: do because you really wanted to go to Meredith, I

488
00:22:43,000 --> 00:22:45,120
Speaker 2: really and it was really annoying that you didn't get

489
00:22:45,160 --> 00:22:45,440
Speaker 2: to go.

490
00:22:45,600 --> 00:22:45,960
Speaker 1: I know.

491
00:22:46,320 --> 00:22:48,239
Speaker 2: So we can avoid that in the future, and that

492
00:22:48,280 --> 00:22:51,199
Speaker 2: can be the same for like literally any goal in

493
00:22:51,240 --> 00:22:54,320
Speaker 2: our life, whether it is a financial goal or like

494
00:22:54,359 --> 00:22:57,680
Speaker 2: an emotional goal or any other type of goal. Set

495
00:22:57,680 --> 00:22:59,840
Speaker 2: your financial goals back. But when I say set your

496
00:22:59,840 --> 00:23:03,200
Speaker 2: financial goals, let's like take a step back. Obviously I've

497
00:23:03,200 --> 00:23:04,840
Speaker 2: said this before and I'll say it again when in

498
00:23:04,920 --> 00:23:07,520
Speaker 2: doubt zoom out. Let's look at the long term. What

499
00:23:07,560 --> 00:23:09,800
Speaker 2: are your long term goals? Then what are your medium

500
00:23:09,920 --> 00:23:13,120
Speaker 2: term goals? And your short term goals. Again, we're gonna

501
00:23:13,200 --> 00:23:16,119
Speaker 2: use Meredith as an example here. Meredith was more of

502
00:23:16,160 --> 00:23:18,200
Speaker 2: a short term goal. Wasn't like a long term you'd

503
00:23:18,240 --> 00:23:20,960
Speaker 2: been planning for years to go. It was more tickets

504
00:23:20,960 --> 00:23:22,640
Speaker 2: came out and you're like, oh, yeah, I do really

505
00:23:22,640 --> 00:23:25,040
Speaker 2: want to go, and it's in the next few months,

506
00:23:25,400 --> 00:23:28,520
Speaker 2: I'm gonna go to work towards that. We actually need

507
00:23:28,520 --> 00:23:31,159
Speaker 2: to look at all of them, because let's be honest,

508
00:23:31,440 --> 00:23:35,480
Speaker 2: in this economy, beck can't do everything at once. No, absolutely, Like,

509
00:23:35,520 --> 00:23:37,640
Speaker 2: and if you've got this medium term goal of going

510
00:23:37,640 --> 00:23:39,920
Speaker 2: on and overseas holiday and maybe a longer term goal

511
00:23:39,960 --> 00:23:42,560
Speaker 2: of buying your first home, you might go, hold up,

512
00:23:42,560 --> 00:23:46,080
Speaker 2: hold up, hold up. If I go to Meredith, I'm

513
00:23:46,080 --> 00:23:47,520
Speaker 2: not going to be able to go to Bali with

514
00:23:47,560 --> 00:23:51,800
Speaker 2: my girlfriends. And that's in November this year, which one

515
00:23:51,800 --> 00:23:52,720
Speaker 2: would you prefer more?

516
00:23:53,040 --> 00:23:53,280
Speaker 1: Yeah?

517
00:23:53,280 --> 00:23:56,680
Speaker 2: So, like we're actually sitting down and prioritizing what our

518
00:23:56,720 --> 00:23:59,800
Speaker 2: financial goals look like and putting in place our own

519
00:24:00,280 --> 00:24:03,600
Speaker 2: of a framework to go. Actually, these short term goals,

520
00:24:03,600 --> 00:24:06,879
Speaker 2: they're really important to me. So maybe I will sacrifice

521
00:24:06,880 --> 00:24:09,000
Speaker 2: that medium term goal not going to go to Bali

522
00:24:09,119 --> 00:24:11,359
Speaker 2: or do it the next year. Does that make sense? So,

523
00:24:11,400 --> 00:24:14,680
Speaker 2: like we're kind of renegotiating with ourselves. And the next

524
00:24:14,680 --> 00:24:17,080
Speaker 2: thing I want you to do is really understand risk.

525
00:24:17,600 --> 00:24:21,200
Speaker 2: So when we are in an investment mindset, we're really

526
00:24:21,200 --> 00:24:24,159
Speaker 2: excited about growth, but we aren't that excited if we

527
00:24:24,200 --> 00:24:26,200
Speaker 2: hear that our portfolio is going to go down, right,

528
00:24:26,600 --> 00:24:28,520
Speaker 2: And I've said it before and I'll say it again.

529
00:24:29,200 --> 00:24:32,600
Speaker 2: Even when I log into my investment portfolio today, if

530
00:24:32,600 --> 00:24:34,679
Speaker 2: I see it down, I get that little twang in

531
00:24:34,720 --> 00:24:38,480
Speaker 2: my chest. I'm like, Oh, even though I arguably should

532
00:24:38,480 --> 00:24:41,080
Speaker 2: be one of the more educated people in this space,

533
00:24:41,680 --> 00:24:46,680
Speaker 2: investing is inherently emotional. So making sure that you understand risk.

534
00:24:46,840 --> 00:24:49,280
Speaker 2: So what is risk? How does it work? What is

535
00:24:49,320 --> 00:24:53,200
Speaker 2: your personal risk profile? We've done whole episodes on risk profiling.

536
00:24:53,520 --> 00:24:56,720
Speaker 2: Go and listen to them so that you know what

537
00:24:56,760 --> 00:24:58,800
Speaker 2: you are willing to take on and what you're not

538
00:24:58,880 --> 00:25:01,119
Speaker 2: willing to take on. And it's going to, you know,

539
00:25:01,160 --> 00:25:02,960
Speaker 2: take you through a number of questions that's going to

540
00:25:03,040 --> 00:25:05,919
Speaker 2: help ascertain what type of risk profile you have, and

541
00:25:05,960 --> 00:25:08,879
Speaker 2: if you understand that, you will be whistling down very

542
00:25:08,960 --> 00:25:11,639
Speaker 2: easily the types of assets you would invest in and

543
00:25:11,680 --> 00:25:13,920
Speaker 2: the types you wouldn't invest in, and wipes heaps of

544
00:25:13,960 --> 00:25:17,399
Speaker 2: stuff off the table for you from the get go. Yeah, okay,

545
00:25:17,560 --> 00:25:19,560
Speaker 2: so that's where I would start and where I would focus.

546
00:25:19,600 --> 00:25:23,119
Speaker 2: If you're experiencing a little bit of analysis paralysis.

547
00:25:22,480 --> 00:25:26,199
Speaker 4: Got he's good. So at this point I would say,

548
00:25:26,240 --> 00:25:28,360
Speaker 4: let's have a little break, but don't go anywhere, because

549
00:25:28,400 --> 00:25:29,679
Speaker 4: after the break of fee it's going to give you

550
00:25:29,800 --> 00:25:32,440
Speaker 4: the five key things to help make you a better.

551
00:25:32,240 --> 00:25:40,000
Speaker 2: Investor in twenty twenty four. Let's go, let's go. Welcome

552
00:25:40,040 --> 00:25:40,600
Speaker 2: back everyone.

553
00:25:40,680 --> 00:25:43,280
Speaker 4: We are talking about investing in mindset and v You've

554
00:25:43,280 --> 00:25:45,199
Speaker 4: promised to share with us five ways to be a

555
00:25:45,200 --> 00:25:46,560
Speaker 4: better investor in twenty.

556
00:25:46,480 --> 00:25:48,600
Speaker 2: Isn't that nice of me? Very nice of you, so

557
00:25:48,760 --> 00:25:51,919
Speaker 2: very very nice. Here, let's start, all right, So are

558
00:25:52,000 --> 00:25:52,439
Speaker 2: you ready?

559
00:25:52,840 --> 00:25:53,800
Speaker 4: I think I'm ready.

560
00:25:53,840 --> 00:25:55,200
Speaker 2: Are you going to be a better investor?

561
00:25:55,280 --> 00:25:55,320
Speaker 1: Or?

562
00:25:55,359 --> 00:25:57,400
Speaker 2: Are you just going to become an investor? I think

563
00:25:57,440 --> 00:26:00,000
Speaker 2: I'll become your jokes on. You have superanuation?

564
00:26:00,560 --> 00:26:02,359
Speaker 4: Oh, I forgot about that.

565
00:26:02,440 --> 00:26:05,199
Speaker 2: She's already an investor, A good one. I don't know.

566
00:26:05,359 --> 00:26:07,480
Speaker 2: I haven't looked at your super I can tell you

567
00:26:07,520 --> 00:26:10,440
Speaker 2: that after the show, babe, Okay, but I think that's

568
00:26:10,480 --> 00:26:13,000
Speaker 2: a good place to start. You're actually already an investor.

569
00:26:13,040 --> 00:26:15,840
Speaker 2: If you've got superannuation actually gives me confidence. Well, it

570
00:26:15,880 --> 00:26:19,480
Speaker 2: gives you confidence, but it also lets you kind of go, oh,

571
00:26:19,880 --> 00:26:22,000
Speaker 2: I'm not missing out as much as I think I was. Like,

572
00:26:22,040 --> 00:26:23,920
Speaker 2: I think a lot of people just assume, oh, I'm

573
00:26:23,920 --> 00:26:26,679
Speaker 2: not in the market, Like what the hell? Like, my friend,

574
00:26:26,800 --> 00:26:30,160
Speaker 2: if you have a superannuation portfolio, whether it's one dollar

575
00:26:30,280 --> 00:26:32,920
Speaker 2: or one million dollars, you are an investor, and that's

576
00:26:32,960 --> 00:26:35,239
Speaker 2: actually a really you know, side note before I get

577
00:26:35,280 --> 00:26:37,760
Speaker 2: into my list. That's a really easy way to kind

578
00:26:37,800 --> 00:26:40,320
Speaker 2: of log in, see what your portfolio has been doing,

579
00:26:40,400 --> 00:26:42,959
Speaker 2: what's your risk profile in that space, how much are

580
00:26:43,000 --> 00:26:45,520
Speaker 2: your fees in that space? What are you invested in?

581
00:26:45,640 --> 00:26:47,640
Speaker 2: Are you happy you're invested in that? Like, I think

582
00:26:47,680 --> 00:26:50,840
Speaker 2: it's just take control of that because ultimately that's not

583
00:26:50,880 --> 00:26:52,719
Speaker 2: going to cost you any money today. You don't even

584
00:26:52,800 --> 00:26:54,159
Speaker 2: have to put your money where your mouth is. You

585
00:26:54,200 --> 00:26:56,119
Speaker 2: don't even have to, you know, take anything out of

586
00:26:56,119 --> 00:26:58,680
Speaker 2: savings to start, right, have a look at that beck

587
00:26:58,800 --> 00:27:01,040
Speaker 2: because it'll make you feel more empowered and you go, oh,

588
00:27:01,080 --> 00:27:03,080
Speaker 2: I've been invested in that for ages and it's actually

589
00:27:03,080 --> 00:27:05,720
Speaker 2: doing okay. Like it'll give you a bit of a boost,

590
00:27:05,720 --> 00:27:09,200
Speaker 2: a bit of confidence. And also, let's be honest, if

591
00:27:09,200 --> 00:27:12,000
Speaker 2: there's something not so good about your super, you're gonna

592
00:27:12,000 --> 00:27:15,040
Speaker 2: be hundreds of thousands of dollars better off in retirement

593
00:27:15,080 --> 00:27:17,040
Speaker 2: if you check it today, right, Like, if you check

594
00:27:17,080 --> 00:27:20,399
Speaker 2: it today, that is a very cheap and easy way

595
00:27:20,640 --> 00:27:24,000
Speaker 2: to get yourself ahead. Financially in the long term without

596
00:27:24,080 --> 00:27:25,960
Speaker 2: having to put a doll You could be in mountains

597
00:27:25,960 --> 00:27:28,719
Speaker 2: of debt right now and still check your super and

598
00:27:28,800 --> 00:27:31,719
Speaker 2: be in a better financial position. Yeah, that's a sleigh,

599
00:27:31,960 --> 00:27:33,600
Speaker 2: I said. I wasn't going to say sleigh in twenty

600
00:27:33,640 --> 00:27:34,760
Speaker 2: twenty four, but guess we're here.

601
00:27:35,320 --> 00:27:38,280
Speaker 4: Well, it's a little bit Christmasy to say slay. I

602
00:27:38,359 --> 00:27:41,760
Speaker 4: think I'm changing it into an eigh. So I think

603
00:27:41,760 --> 00:27:42,160
Speaker 4: it's okay.

604
00:27:42,200 --> 00:27:45,000
Speaker 2: Again, you think it's okay because Christmas was so recent? Yeah, okay,

605
00:27:45,160 --> 00:27:46,639
Speaker 2: all right, Well I'll take it. I'm really going to

606
00:27:46,680 --> 00:27:48,640
Speaker 2: take whatever. But I've written you a list of five

607
00:27:48,680 --> 00:27:50,680
Speaker 2: things to do to be a better investor in twenty

608
00:27:50,720 --> 00:27:53,680
Speaker 2: twenty four, after you've sorted your super hour, right, all right,

609
00:27:53,720 --> 00:27:55,920
Speaker 2: So first thing first, we're just gonna do it. We're

610
00:27:56,000 --> 00:27:57,640
Speaker 2: just going to make a start. Just do it.

611
00:27:57,800 --> 00:27:58,280
Speaker 5: Just do it.

612
00:27:58,600 --> 00:28:01,959
Speaker 2: Sorry, Nike, don't come after me. I'm borrowing your trademark.

613
00:28:02,000 --> 00:28:04,120
Speaker 2: But that is okay. You don't need lots of money

614
00:28:04,200 --> 00:28:07,680
Speaker 2: to start your investment journey. Invest small amounts regularly if

615
00:28:07,680 --> 00:28:11,320
Speaker 2: that's all you have. There's no such thing as investing

616
00:28:11,440 --> 00:28:13,880
Speaker 2: too little. How many times have I harped on about

617
00:28:13,880 --> 00:28:17,439
Speaker 2: the fact that investing early and little amounts sets you

618
00:28:17,600 --> 00:28:19,240
Speaker 2: up to be in the right mind frame for when

619
00:28:19,240 --> 00:28:22,320
Speaker 2: you do have more money to invest. If you can't

620
00:28:22,359 --> 00:28:25,560
Speaker 2: manage one dollar, beck, I promise you can't manage ten

621
00:28:25,600 --> 00:28:28,400
Speaker 2: thousand dollars, and you ultimately aren't going to be able

622
00:28:28,440 --> 00:28:31,240
Speaker 2: to manage a million dollar portfolio. If that's your plan,

623
00:28:31,600 --> 00:28:34,720
Speaker 2: So start with the one dollar and start caring about

624
00:28:34,720 --> 00:28:37,560
Speaker 2: that a lot today. Even if you go this is fruitless.

625
00:28:37,560 --> 00:28:39,320
Speaker 2: It's not even going to buy me a coffee. I

626
00:28:39,400 --> 00:28:41,840
Speaker 2: get that. But you know what it's doing. It's setting

627
00:28:41,920 --> 00:28:44,680
Speaker 2: up your mindset. It's putting you on the right path.

628
00:28:44,880 --> 00:28:47,800
Speaker 2: You've already got the investing platform, you've got the framework.

629
00:28:47,840 --> 00:28:51,160
Speaker 2: You maybe have already automated the payments to that platform.

630
00:28:51,600 --> 00:28:54,200
Speaker 2: What you can do over time, as we get higher

631
00:28:54,320 --> 00:28:57,240
Speaker 2: incomes or you know, birthday money or Christmas money, or

632
00:28:57,280 --> 00:28:59,760
Speaker 2: like you get your tax return come July this year,

633
00:29:00,360 --> 00:29:03,320
Speaker 2: you can invest more and slowly start building it so

634
00:29:03,520 --> 00:29:07,240
Speaker 2: there's no such thing as too little, too late. The

635
00:29:07,240 --> 00:29:09,320
Speaker 2: next thing we are going to do is do our research.

636
00:29:09,920 --> 00:29:13,400
Speaker 2: It's not that sexy. Sorry, that seems like work, but

637
00:29:13,440 --> 00:29:17,840
Speaker 2: it can be fun. I think it's fun. You have

638
00:29:17,880 --> 00:29:20,720
Speaker 2: a wine. It can be extra fun. True. You know

639
00:29:20,760 --> 00:29:22,760
Speaker 2: who I'm going to refer to in this next point.

640
00:29:22,960 --> 00:29:27,480
Speaker 2: The most successful investor of all time is our eighty

641
00:29:27,480 --> 00:29:30,200
Speaker 2: plus year old friend Warren Buffett and our mate Buffett.

642
00:29:30,400 --> 00:29:33,680
Speaker 2: He gives us two key pieces of advice when evaluating

643
00:29:33,720 --> 00:29:36,840
Speaker 2: a company to invest in. So first look at the

644
00:29:36,920 --> 00:29:40,920
Speaker 2: quality of the company, then at the price. Okay, so

645
00:29:40,960 --> 00:29:42,719
Speaker 2: we're not looking at the price first, we're looking at

646
00:29:42,720 --> 00:29:44,640
Speaker 2: whether it's a good company to begin with, a.

647
00:29:45,440 --> 00:29:48,520
Speaker 4: Like values and morals all we talk.

648
00:29:48,680 --> 00:29:50,360
Speaker 2: It could be values, it could be morals, it could

649
00:29:50,360 --> 00:29:52,080
Speaker 2: be whether it's a good company or not. I have

650
00:29:52,200 --> 00:29:55,520
Speaker 2: used this example on the pod before. Remember, obviously I'm

651
00:29:55,520 --> 00:29:57,240
Speaker 2: never going to work with after pay, so don't mind

652
00:29:57,320 --> 00:29:59,920
Speaker 2: throwing them straight under the bus. But remember way back

653
00:30:00,120 --> 00:30:03,960
Speaker 2: when everyone was talking about how great after pay shares were,

654
00:30:04,320 --> 00:30:07,400
Speaker 2: Oh my gosh, they're amazing, and they started getting really expensive,

655
00:30:07,640 --> 00:30:10,160
Speaker 2: and I think a lot of us thought that expensive

656
00:30:10,280 --> 00:30:14,240
Speaker 2: was indicative of quality and being a good investment option,

657
00:30:14,360 --> 00:30:17,160
Speaker 2: because why would they increase so much? Why would they

658
00:30:17,240 --> 00:30:20,680
Speaker 2: increase so quickly? Back the reality of that is they

659
00:30:20,800 --> 00:30:24,680
Speaker 2: increased because of I guess the social status they had.

660
00:30:25,160 --> 00:30:27,360
Speaker 2: The media was talking about them. Everyone on Instagram was

661
00:30:27,400 --> 00:30:29,680
Speaker 2: talking about them. Everyone in the kitchen at aarn was

662
00:30:29,720 --> 00:30:32,080
Speaker 2: talking about them, going oh this is great, Oh my gosh,

663
00:30:32,080 --> 00:30:34,479
Speaker 2: you're going to get so much good return. But we

664
00:30:34,480 --> 00:30:36,760
Speaker 2: were looking at the price of them, going oh that's cool.

665
00:30:37,080 --> 00:30:39,560
Speaker 2: We weren't looking at the quality of the business. You

666
00:30:39,680 --> 00:30:41,320
Speaker 2: looked at the quality of the business, you would have

667
00:30:41,400 --> 00:30:44,800
Speaker 2: seen there in debt they are in or were at

668
00:30:44,800 --> 00:30:47,200
Speaker 2: that point in time, an in debt business that was

669
00:30:47,240 --> 00:30:50,240
Speaker 2: trying to get ahead, that was investing significantly in what

670
00:30:50,280 --> 00:30:54,040
Speaker 2: they were doing, which is nice. Sometimes they also weren't

671
00:30:54,040 --> 00:30:56,960
Speaker 2: paying dividends to their investors. So to me, let's look

672
00:30:56,960 --> 00:31:00,200
Speaker 2: at the quality of a company, because I know that

673
00:31:00,280 --> 00:31:03,880
Speaker 2: as a more conservative investor, instead of an after pay share,

674
00:31:04,000 --> 00:31:07,280
Speaker 2: I much prefer blue chip stock. Something that is a

675
00:31:07,280 --> 00:31:10,160
Speaker 2: blue chip stock is a tried, true investment that has

676
00:31:10,200 --> 00:31:11,880
Speaker 2: been in the market for a really long time. They

677
00:31:11,880 --> 00:31:13,840
Speaker 2: don't do that many sexy things, but you know what

678
00:31:13,880 --> 00:31:16,920
Speaker 2: they do do back, They pay on time, They're consistent.

679
00:31:17,160 --> 00:31:21,120
Speaker 2: They're the tribes and true, steady steed. Like I'm not

680
00:31:21,240 --> 00:31:23,960
Speaker 2: the sexiest investor ever, Like if you looked at my

681
00:31:23,960 --> 00:31:28,400
Speaker 2: personal portfolio, be like kind of expected more but but

682
00:31:28,760 --> 00:31:32,120
Speaker 2: I like her because she's conservative. She does the job properly.

683
00:31:32,800 --> 00:31:32,960
Speaker 4: Right.

684
00:31:33,600 --> 00:31:36,520
Speaker 2: The second thing is so obviously looking at the quality

685
00:31:36,560 --> 00:31:38,720
Speaker 2: of a company requires you to read, I guess, a

686
00:31:38,760 --> 00:31:41,880
Speaker 2: few financial statements. You could listen to some conference calls,

687
00:31:41,960 --> 00:31:44,440
Speaker 2: or like vet management, you could do a lot of things.

688
00:31:44,480 --> 00:31:46,320
Speaker 2: You could just also, like you know, jump on your

689
00:31:46,320 --> 00:31:49,000
Speaker 2: shares z app and read through all the information that

690
00:31:49,040 --> 00:31:51,000
Speaker 2: they provide on the company so that you can do

691
00:31:51,000 --> 00:31:53,640
Speaker 2: a bit of research that way. But please don't jump

692
00:31:53,680 --> 00:31:56,520
Speaker 2: on anything just because the media or your friends are

693
00:31:56,520 --> 00:32:00,120
Speaker 2: saying it is cool. And then only after you have

694
00:32:00,200 --> 00:32:04,600
Speaker 2: the confidence in it being a good quality company should

695
00:32:04,640 --> 00:32:06,840
Speaker 2: the price then be evaluated and you can go is

696
00:32:06,880 --> 00:32:09,920
Speaker 2: that a reasonable price for a quality company or not?

697
00:32:10,560 --> 00:32:10,800
Speaker 5: Right?

698
00:32:11,240 --> 00:32:13,680
Speaker 2: If that makes sense? As our mate Warren puts it,

699
00:32:13,680 --> 00:32:15,840
Speaker 2: it's far better to buy a wonderful company at a

700
00:32:15,840 --> 00:32:19,280
Speaker 2: fair price than a fair company at a wonderful price.

701
00:32:19,520 --> 00:32:20,520
Speaker 3: You love.

702
00:32:21,000 --> 00:32:22,880
Speaker 2: I'm in love with that. It was straight out of

703
00:32:22,880 --> 00:32:24,800
Speaker 2: the head. Yeah, that's incredible with him.

704
00:32:25,120 --> 00:32:29,160
Speaker 4: So would you say I should be doing what Warren

705
00:32:29,200 --> 00:32:29,920
Speaker 4: Buffett says?

706
00:32:30,160 --> 00:32:31,880
Speaker 2: I mean, lots of people do, do you? He has

707
00:32:31,920 --> 00:32:34,600
Speaker 2: like an online cult following If he makes an investment

708
00:32:34,680 --> 00:32:37,800
Speaker 2: trade soda. Like millions of other people, I'm not shocked, actually,

709
00:32:37,880 --> 00:32:40,920
Speaker 2: and neither am I I'm one of them. By I'm

710
00:32:40,960 --> 00:32:43,720
Speaker 2: actually not. I just really like following what he does,

711
00:32:44,000 --> 00:32:47,240
Speaker 2: not necessarily implementing it. Just pervy. You know you've met that.

712
00:32:47,640 --> 00:32:50,360
Speaker 2: I need to look under the hood of everybody. Absolutely Anyway,

713
00:32:50,360 --> 00:32:53,400
Speaker 2: I guess that leads me to my next point, which

714
00:32:53,440 --> 00:32:57,720
Speaker 2: is trust yourself and have some conviction back. So, how

715
00:32:57,720 --> 00:33:00,200
Speaker 2: many times have you read an article, watched a news report,

716
00:33:00,320 --> 00:33:03,120
Speaker 2: jumped online, took a tip from a friend about the

717
00:33:03,120 --> 00:33:06,840
Speaker 2: next hot stock, and lost money a couple of times? Yeah,

718
00:33:06,880 --> 00:33:09,560
Speaker 2: you have bitcoin being number one? Yeah, doge coin.

719
00:33:09,640 --> 00:33:10,720
Speaker 4: Doge coin was the other.

720
00:33:10,960 --> 00:33:14,560
Speaker 2: Yeah. So like we don't trust Beck with her environment recommendation,

721
00:33:14,800 --> 00:33:16,840
Speaker 2: listen to me. There is only one piece of advice

722
00:33:16,880 --> 00:33:19,360
Speaker 2: I would say you should ever act upon, and that's

723
00:33:19,480 --> 00:33:23,360
Speaker 2: used your own exhaustive research based on facts, not opinions.

724
00:33:23,720 --> 00:33:28,360
Speaker 2: Those two things are very different obtained from trusted sources.

725
00:33:29,040 --> 00:33:31,880
Speaker 2: Other advice can be considered and obviously verified, but it

726
00:33:31,920 --> 00:33:35,000
Speaker 2: should never be the sole reason to commit money to something. Yep,

727
00:33:35,160 --> 00:33:36,960
Speaker 2: just because someone said it was good, Beck, and just

728
00:33:36,960 --> 00:33:39,320
Speaker 2: because your mates were doing it does not mean that

729
00:33:39,400 --> 00:33:41,880
Speaker 2: it is a good decision at all. Do your research,

730
00:33:42,040 --> 00:33:43,520
Speaker 2: have a bit of a think about it, make sure

731
00:33:43,520 --> 00:33:46,160
Speaker 2: it fits your risk profile and what you're trying to achieve.

732
00:33:47,040 --> 00:33:50,560
Speaker 2: The next thing is look ahead. I always say, when

733
00:33:50,600 --> 00:33:52,240
Speaker 2: in doubt, through them out, look at the bigger picture.

734
00:33:52,360 --> 00:33:56,160
Speaker 2: I genuinely mean that successful investors don't actually look at

735
00:33:56,160 --> 00:33:59,560
Speaker 2: what's happening today. It's why when you know the uproar

736
00:33:59,640 --> 00:34:02,240
Speaker 2: about the Big four banks was happening last year, Like

737
00:34:02,280 --> 00:34:04,320
Speaker 2: I remember, everyone was talking about, oh my gosh, they're

738
00:34:04,360 --> 00:34:07,800
Speaker 2: screwing investors because they're increasing interest rates. What does this mean?

739
00:34:07,800 --> 00:34:10,359
Speaker 2: Should I still be invested in them? I didn't even

740
00:34:10,400 --> 00:34:12,560
Speaker 2: second look. I own a couple of the Big four

741
00:34:12,600 --> 00:34:15,920
Speaker 2: banks in my portfolio. I didn't even blink. And the

742
00:34:15,960 --> 00:34:19,280
Speaker 2: reason I didn't blink is because I already know they're tried,

743
00:34:19,400 --> 00:34:22,560
Speaker 2: true quality businesses, and what was going on was reflective

744
00:34:22,600 --> 00:34:25,080
Speaker 2: of the market. It did not matter what was going

745
00:34:25,120 --> 00:34:27,920
Speaker 2: on with other people's opinions because they didn't know what

746
00:34:27,960 --> 00:34:29,680
Speaker 2: they were talking about. At the end of the day,

747
00:34:29,960 --> 00:34:32,799
Speaker 2: Les Warren Buffett is out here telling me, yes, I

748
00:34:32,840 --> 00:34:34,960
Speaker 2: don't know why my friend that's a doctor or a

749
00:34:35,040 --> 00:34:37,600
Speaker 2: dentist or a hairdresser is going to know more about

750
00:34:37,600 --> 00:34:40,880
Speaker 2: the investment world than people who actually work in investment

751
00:34:40,960 --> 00:34:43,799
Speaker 2: right right. One of my favorite books, and if you're

752
00:34:43,960 --> 00:34:45,959
Speaker 2: looking for an investment book to read at the start

753
00:34:46,000 --> 00:34:47,879
Speaker 2: of this year, I read this every year and it's

754
00:34:47,920 --> 00:34:51,279
Speaker 2: the most dry, bland, boring book in the entire world.

755
00:34:51,320 --> 00:34:53,440
Speaker 2: But I read it all the time, like you go

756
00:34:53,480 --> 00:34:55,200
Speaker 2: for it. I read it all the time because it's

757
00:34:55,239 --> 00:34:58,080
Speaker 2: like the investing basics, Like it's the start of the start.

758
00:34:58,080 --> 00:35:01,720
Speaker 2: It's called The Richest Man in Babylon and it's about

759
00:35:02,480 --> 00:35:06,799
Speaker 2: I guess, investing basics, like where investments started, and it

760
00:35:06,880 --> 00:35:09,560
Speaker 2: started in marketplaces. And one of the things that is

761
00:35:09,600 --> 00:35:12,360
Speaker 2: said in The Richest Man in Babylon is you would

762
00:35:12,400 --> 00:35:15,239
Speaker 2: never take advice on buying diamonds from a bricklayer.

763
00:35:15,760 --> 00:35:15,920
Speaker 4: Hm.

764
00:35:16,560 --> 00:35:19,120
Speaker 2: And you just go that makes sense. That does make sense.

765
00:35:19,160 --> 00:35:21,920
Speaker 2: So every time someone gives you some advice, go, well,

766
00:35:21,920 --> 00:35:23,920
Speaker 2: where is it coming from? Yes, so you can have

767
00:35:23,960 --> 00:35:26,680
Speaker 2: a really beautiful conversation over brunch, don't shut your friends down.

768
00:35:27,040 --> 00:35:30,200
Speaker 2: Have those chats. Absorb that information. But when it comes

769
00:35:30,200 --> 00:35:32,440
Speaker 2: back to making your own decision, be like, did I

770
00:35:32,480 --> 00:35:34,880
Speaker 2: get this advice from the diamond trader? Or did I

771
00:35:34,880 --> 00:35:37,799
Speaker 2: get it from the bricklayer, Because if I'm buying diamonds,

772
00:35:38,280 --> 00:35:40,880
Speaker 2: I probably want to be talking to a diamond specialist.

773
00:35:41,160 --> 00:35:43,200
Speaker 2: I don't actually want to be talking to a bricky

774
00:35:43,560 --> 00:35:46,600
Speaker 2: that's beautiful. Does that make sense? Yeah? So anyway, that's

775
00:35:46,600 --> 00:35:49,040
Speaker 2: where I would be looking. Look at the momentum of

776
00:35:49,080 --> 00:35:52,440
Speaker 2: a company as well or an entire economy and how

777
00:35:52,480 --> 00:35:55,640
Speaker 2: it interacts with its competitors. If you invested now, what

778
00:35:55,719 --> 00:35:58,600
Speaker 2: will happen in the future. I think it's really important

779
00:35:58,640 --> 00:36:02,520
Speaker 2: to understand that most businesses are really forward thinking. If

780
00:36:02,520 --> 00:36:06,040
Speaker 2: you're looking at investing something now or trying to jump

781
00:36:06,040 --> 00:36:08,440
Speaker 2: on the bandwagon of an investment that's already like in

782
00:36:08,480 --> 00:36:11,640
Speaker 2: its heyday, already had all of that social media momentum

783
00:36:12,440 --> 00:36:16,399
Speaker 2: that's had short term gains, you've actually probably already missed out.

784
00:36:16,440 --> 00:36:18,680
Speaker 2: Like you're probably not going to like if your mate

785
00:36:18,760 --> 00:36:21,560
Speaker 2: is talking about how they've had really great gains in

786
00:36:21,560 --> 00:36:24,600
Speaker 2: the last six months with a particular stock, like why

787
00:36:24,600 --> 00:36:26,360
Speaker 2: would that continue in this economy?

788
00:36:26,600 --> 00:36:26,839
Speaker 1: Right?

789
00:36:27,520 --> 00:36:30,839
Speaker 2: Like sounds good, sound sexy, but it's probably not going

790
00:36:30,880 --> 00:36:33,640
Speaker 2: to be sustainable for the future. So we need to

791
00:36:33,680 --> 00:36:35,640
Speaker 2: look at that. So try and find the next big

792
00:36:35,640 --> 00:36:38,279
Speaker 2: thing not necessarily the thing that has been the big

793
00:36:38,280 --> 00:36:41,799
Speaker 2: thing for your friends. But then always anchor your portfolio

794
00:36:41,840 --> 00:36:45,160
Speaker 2: with great companies that have, you know, long term track

795
00:36:45,239 --> 00:36:48,239
Speaker 2: records and steady growth, not like, oh my gosh, dos

796
00:36:48,320 --> 00:36:50,520
Speaker 2: coin is really trendy young and for my money in there,

797
00:36:51,040 --> 00:36:54,520
Speaker 2: sorry to attack you like, which beck leads me to

798
00:36:54,600 --> 00:36:59,600
Speaker 2: my final point, be patient. It's a long game. That's

799
00:36:59,680 --> 00:37:02,640
Speaker 2: the time parts a long game. I'm impulsive, so this

800
00:37:02,719 --> 00:37:04,759
Speaker 2: doesn't work for me either, which is I guess why

801
00:37:04,800 --> 00:37:07,759
Speaker 2: I had to become so educated, because I just want

802
00:37:07,760 --> 00:37:10,000
Speaker 2: things to happen right now. If I invest today, right,

803
00:37:10,320 --> 00:37:13,279
Speaker 2: it would be so good to be a millionaire tomorrow, ideally,

804
00:37:13,480 --> 00:37:15,400
Speaker 2: ideally right, Like, what do you mean, I'm going to

805
00:37:15,520 --> 00:37:17,400
Speaker 2: check it tomorrow and it's gonna be worth nothing. It

806
00:37:17,480 --> 00:37:21,400
Speaker 2: might be worthless. That's so scaring. But we actually have

807
00:37:21,440 --> 00:37:23,359
Speaker 2: to zoom out, so you will have heard me say

808
00:37:23,440 --> 00:37:26,160
Speaker 2: a million times even in this episode when in doubt,

809
00:37:26,200 --> 00:37:29,040
Speaker 2: zoom out, look at the bigger picture. Yeah, I promise

810
00:37:29,200 --> 00:37:31,680
Speaker 2: that is going to make you a better investor, if

811
00:37:31,719 --> 00:37:35,640
Speaker 2: you are able to genuinely go hold up my portfolios down.

812
00:37:36,560 --> 00:37:38,759
Speaker 2: Let's actually just like, look at the bigger picture. One

813
00:37:38,760 --> 00:37:42,399
Speaker 2: of my favorite resources is the Vanguard Interactive Index chart.

814
00:37:42,760 --> 00:37:44,960
Speaker 2: Go have a look at that online, because when you

815
00:37:45,080 --> 00:37:48,280
Speaker 2: zoom out and go, oh, well, what has the market

816
00:37:48,320 --> 00:37:50,839
Speaker 2: done over the last thirty years, forty years, fifty years,

817
00:37:50,920 --> 00:37:53,840
Speaker 2: however long you're planning on being invested, I promise it

818
00:37:53,880 --> 00:37:57,239
Speaker 2: looks far more sexy than what the returns over the

819
00:37:57,280 --> 00:38:00,400
Speaker 2: last twelve months have Because, like, everyone's a bit of

820
00:38:00,440 --> 00:38:02,600
Speaker 2: a hard time during this economy. But if you look

821
00:38:02,640 --> 00:38:04,719
Speaker 2: at what's going on in our economy right now, and

822
00:38:04,760 --> 00:38:07,640
Speaker 2: then you compare it to the global financial crisis, which

823
00:38:07,960 --> 00:38:11,759
Speaker 2: arguably was our biggest financial crisis, you know, I guess

824
00:38:11,800 --> 00:38:14,560
Speaker 2: you could say, more modern times, that happened in two

825
00:38:14,600 --> 00:38:16,480
Speaker 2: thousand and eight, two thousand and nine, And if we

826
00:38:17,040 --> 00:38:19,279
Speaker 2: go back that far and have a look at what

827
00:38:19,320 --> 00:38:21,759
Speaker 2: the dip in the market there looked like and cut

828
00:38:21,760 --> 00:38:24,160
Speaker 2: it off, you go, oh, my gosh, the market was

829
00:38:24,200 --> 00:38:27,120
Speaker 2: steadily going up and then it crashed down. Beck it

830
00:38:27,160 --> 00:38:30,160
Speaker 2: was terrifying. But then if you go from two thousand

831
00:38:30,200 --> 00:38:33,760
Speaker 2: and nine to twenty twenty four, the market recovers even

832
00:38:33,840 --> 00:38:37,520
Speaker 2: greater than what the crash was. So it always comes back,

833
00:38:38,040 --> 00:38:41,280
Speaker 2: and we needed to understand that. That's how the economy works.

834
00:38:41,520 --> 00:38:44,520
Speaker 2: So during the Global Financial crisis, so many people freaked out,

835
00:38:44,719 --> 00:38:47,560
Speaker 2: sold their portfolios, that were selling their house. Like there's

836
00:38:47,600 --> 00:38:50,240
Speaker 2: obviously a lot to the GFC, which we can explain

837
00:38:50,280 --> 00:38:53,080
Speaker 2: another day, but lots of people freaked out because it

838
00:38:53,120 --> 00:38:56,400
Speaker 2: was the biggest crash in history. Beck. But the people

839
00:38:56,440 --> 00:38:59,240
Speaker 2: that made the most money during the Global Financial Crisis

840
00:38:59,239 --> 00:39:02,319
Speaker 2: were the colme that left their money invested, so that

841
00:39:02,440 --> 00:39:05,880
Speaker 2: today it is outperforming even what the high of the

842
00:39:05,920 --> 00:39:11,239
Speaker 2: Global financial crisis market wash. You'd be absolutely cheering exactly.

843
00:39:11,360 --> 00:39:15,719
Speaker 2: And if you had sold, then you're absolutely kicking yourself,

844
00:39:15,880 --> 00:39:18,439
Speaker 2: right because now you're looking at this bigger chart going wow,

845
00:39:18,600 --> 00:39:21,879
Speaker 2: like it actually recovered. And at the time it didn't

846
00:39:21,880 --> 00:39:23,920
Speaker 2: feel like it was going to recover, felt like the

847
00:39:23,920 --> 00:39:28,000
Speaker 2: financial world was falling down around us. But when in doubt,

848
00:39:28,080 --> 00:39:31,680
Speaker 2: zoom ount. It is so important to I guess, take

849
00:39:31,719 --> 00:39:34,120
Speaker 2: a step back and go if this is happening to

850
00:39:34,160 --> 00:39:37,120
Speaker 2: me as an individual investor, it's probably happening to millions

851
00:39:37,120 --> 00:39:40,239
Speaker 2: of individual investors. And if you're on a good platform

852
00:39:40,320 --> 00:39:43,319
Speaker 2: and you're in you know, a solid ETF for a

853
00:39:43,400 --> 00:39:46,000
Speaker 2: solid business, I promise they're freaking out more than you

854
00:39:46,040 --> 00:39:48,040
Speaker 2: are because they want their returns to go back to

855
00:39:48,080 --> 00:39:52,160
Speaker 2: normal too, So don't stress too much, don't panic when

856
00:39:52,200 --> 00:39:53,239
Speaker 2: in doubt, zoom out.

857
00:39:53,560 --> 00:39:56,000
Speaker 4: Okay, are there any other things to consider before we

858
00:39:56,040 --> 00:39:56,480
Speaker 4: wrap up?

859
00:39:56,600 --> 00:39:59,560
Speaker 2: I mean, obviously there are some really good books She's

860
00:39:59,600 --> 00:40:03,520
Speaker 2: on the Money, any investinguish sheees on the Money. Obviously,

861
00:40:03,560 --> 00:40:06,120
Speaker 2: listen to podcasts. There are so many out there. Obviously

862
00:40:06,160 --> 00:40:08,080
Speaker 2: we can talk about our own, but if you're this

863
00:40:08,160 --> 00:40:10,440
Speaker 2: far into this episode, you already listen to us. But

864
00:40:10,480 --> 00:40:12,520
Speaker 2: I've got a couple of favorites. Obviously, I love my

865
00:40:12,600 --> 00:40:16,000
Speaker 2: millennial money. I think that they are really Obviously they

866
00:40:16,000 --> 00:40:18,520
Speaker 2: can be a lot more technical than I am, which

867
00:40:18,600 --> 00:40:22,120
Speaker 2: some people absolutely love, and they deep dive into different things.

868
00:40:22,880 --> 00:40:25,160
Speaker 2: Go have a listen to them. Even just look up

869
00:40:25,239 --> 00:40:30,279
Speaker 2: money podcasts online and see what other content exists that

870
00:40:30,320 --> 00:40:33,520
Speaker 2: you might resonate with. Join our Facebook group, keep in

871
00:40:33,560 --> 00:40:36,200
Speaker 2: touch with the community, have a good chat with people.

872
00:40:36,520 --> 00:40:39,160
Speaker 2: Start bringing it up at brunch. Like you don't need

873
00:40:39,200 --> 00:40:41,319
Speaker 2: to do this alone, even if you don't have any

874
00:40:41,400 --> 00:40:44,719
Speaker 2: quote friends in your immediate friend circle that are going

875
00:40:44,760 --> 00:40:47,439
Speaker 2: to talk about this with you. I will jump into

876
00:40:47,440 --> 00:40:50,120
Speaker 2: our Facebook group. I live there on the daily. Like you,

877
00:40:50,160 --> 00:40:52,839
Speaker 2: ask questions I'm a there to answer. This is why

878
00:40:52,880 --> 00:40:56,120
Speaker 2: we are here, right, So I think that then gets

879
00:40:56,120 --> 00:40:59,520
Speaker 2: specific with your situation. So work out what you can do. Beg,

880
00:40:59,560 --> 00:41:01,680
Speaker 2: your sitch is going to be very different to someone

881
00:41:01,680 --> 00:41:04,479
Speaker 2: in their fifties investing for the first time. So don't

882
00:41:04,520 --> 00:41:06,560
Speaker 2: look at what other people are doing. Look at what

883
00:41:06,560 --> 00:41:09,160
Speaker 2: Beck needs to do and how she needs to you know,

884
00:41:09,400 --> 00:41:11,040
Speaker 2: just put one foot in front of the other to

885
00:41:11,080 --> 00:41:13,600
Speaker 2: get into the market. If you're already in the market

886
00:41:13,640 --> 00:41:15,359
Speaker 2: and you want to be a better investor, what does

887
00:41:15,400 --> 00:41:17,880
Speaker 2: that look like for you? Because if you then compare

888
00:41:17,880 --> 00:41:19,719
Speaker 2: yourself to other people's journeys, you're going to be like,

889
00:41:20,040 --> 00:41:22,000
Speaker 2: I've been investing for ten years and then you see,

890
00:41:22,040 --> 00:41:24,080
Speaker 2: you know, Sharon down the road and she's been investing

891
00:41:24,080 --> 00:41:26,840
Speaker 2: for ten years, but she had so much disposable income

892
00:41:26,880 --> 00:41:28,759
Speaker 2: and is now rolling in it. Right, what's that going

893
00:41:28,840 --> 00:41:31,400
Speaker 2: to do for you? Make me sad? Exactly? Do we

894
00:41:31,440 --> 00:41:32,000
Speaker 2: want to do that?

895
00:41:32,400 --> 00:41:32,600
Speaker 4: No?

896
00:41:32,760 --> 00:41:35,239
Speaker 2: What benefit does that provide? Yeah? I see what we

897
00:41:35,280 --> 00:41:38,040
Speaker 2: are saying. So that's where I'm at, and I think

898
00:41:38,080 --> 00:41:40,640
Speaker 2: now it's time to wrap because I deserve a coffee

899
00:41:40,680 --> 00:41:41,879
Speaker 2: after all. Yeah.

900
00:41:41,920 --> 00:41:44,239
Speaker 4: Absolutely, you changed my life, that's for sure.

901
00:41:44,320 --> 00:41:47,280
Speaker 2: Thanks babe, because I bought your coffee exactly.

902
00:41:47,520 --> 00:41:48,560
Speaker 4: Let's get another one.

903
00:41:48,480 --> 00:41:50,399
Speaker 2: All right, Have a good week, guys. We will see

904
00:41:50,440 --> 00:41:54,360
Speaker 2: you on Friday. Bye.

905
00:41:57,320 --> 00:41:59,840
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906
00:42:00,160 --> 00:42:03,120
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907
00:42:03,480 --> 00:42:05,600
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908
00:42:05,680 --> 00:42:08,520
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909
00:42:08,560 --> 00:42:11,840
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910
00:42:11,840 --> 00:42:15,120
Speaker 5: buy a financial product, read the PDS TMD and obtain

911
00:42:15,160 --> 00:42:19,560
Speaker 5: appropriate financial advice tailored towards your needs. Victoria Divine and

912
00:42:19,719 --> 00:42:23,120
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