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Speaker 1: Hello, my name is Satasha Nabananga Bamblet. I'm a proud

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Speaker 1: or the Order Kerni Whaltbury and a waddery woman. And

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

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

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Speaker 1: land 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 She's on the Money. The podcast

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Speaker 4: that shows you investing isn't just for the rich. It's

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Speaker 4: for you to not to say that you're not rich.

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Speaker 4: Who I was listening to this? Maybe there's really rich

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Speaker 4: people listening. Yeah, maybe maybe they got rich because of

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Speaker 4: this podcast.

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Speaker 2: Why are you still here?

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Speaker 1: Yeah?

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Speaker 4: Well good questions. Yeah, well maybe they should be teaching

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Speaker 4: us at this point. Yeah, you call me, you call

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Speaker 4: us please. Does it get to January each year and

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Speaker 4: you promise yourself this will be the year I finally

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Speaker 4: invest only to pushed off because it feels too hard

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Speaker 4: or too confusing. Well, maybe you've gone to start, opened

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Speaker 4: an up or even googled how to invest, but got

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Speaker 4: cold feet. Or perhaps you're stuck thinking do I even

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Speaker 4: have enough money to invest? That's a silly, silly, silly question.

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Speaker 4: Silly question. Well, whether you've got ten dollars or ten

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Speaker 4: thousand dollars. We're here today to show you that anyone,

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Speaker 4: and I mean anyone can become an investor this year.

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Speaker 4: I'm excited an investor and I'm in excited and an investor. Sorry,

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Speaker 4: I forgot my title. Yeah, and with me is ex

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Speaker 4: financial advisor. That felt really mean you're still a financial

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Speaker 4: advisor at heart.

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Speaker 2: Yeah, like on the inside, but sometimes it's not what's

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Speaker 2: on the.

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Speaker 4: Inside that well, that's very true.

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Speaker 2: So I am an ex financial adviser, like I'm hoping

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Speaker 2: you feel very different yes about me being an ex

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Speaker 2: financial advisor than you do about an ex partner.

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Speaker 4: It's it's on par in the bin. Victoria Divide is

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Speaker 4: here to talk us through investing.

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Speaker 2: I know I am, and I'm very excited about this.

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Speaker 2: In fact, I've managed a lot of people's investment portfolios.

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Speaker 4: And small flex made them a lot of money.

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Speaker 2: So like low key, do you want to learn about

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Speaker 2: investing from just some player bonni Instagram who is just

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Speaker 2: doing it themselves? Or do you want to learn it

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Speaker 2: from an ex financial advisor who's literally made other people

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Speaker 2: millions of dollars and has done it herself.

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Speaker 4: I don't know. I don't know. That is a tricky one.

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Speaker 4: I don't know.

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Speaker 2: I don't want advice from someone who doesn't know how

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Speaker 2: to invest. Finance doesn't walk to the walk.

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Speaker 4: Yeah, now, finance bros.

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Speaker 2: Do you know what the funniest thing about finance bros

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Speaker 2: Side note is how many of them might ended up

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Speaker 2: with as clients and they were useless with money. Oh

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Speaker 2: that is It's so satisfying. Anyway, I loved all of

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Speaker 2: my clients equally. It's what I meant.

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Speaker 4: Oh that's what. No judgment, No judgment.

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Speaker 2: But do you know what my goal is, apart from

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Speaker 2: being less judgmental to finance bros. Is in twenty twenty five.

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Speaker 4: Beck, I should probably know this, but I haven't. Maybe

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Speaker 4: I just wasn't.

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Speaker 2: Obviously it's the same as last year, and that's to

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Speaker 2: get more women investing.

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Speaker 4: I'm talking literally.

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Speaker 2: Everyone from the woman who is just like smashing avotoasted

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Speaker 2: brunch to the woman who is swearing that she's gonna

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Speaker 2: start wants to just gets return in.

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Speaker 4: June like not yet.

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Speaker 2: Because investing isn't just for the Warren Buffets of the world, Beck,

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Speaker 2: It's for anyone who's ready to make their money work

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Speaker 2: harder than the friend who always organizes the group chat.

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Speaker 2: And the best bit, it doesn't take thousands of dollars

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Speaker 2: or even a finance degree, which turns out I didn't

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Speaker 2: need that to get started.

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Speaker 4: Well you can check that out. Yeah, I just pop

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Speaker 4: it in the bin.

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Speaker 2: Actually, I don't know if you follow me on TikTok,

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Speaker 2: but one time I pretended to set it alt.

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Speaker 4: That was quite fun. Or did you like make a

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Speaker 4: fake one and then.

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Speaker 2: Said no, no, I pretended to set the actual thing

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Speaker 2: alight because someone was like, she doesn't know what she's

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Speaker 2: talking about.

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Speaker 4: She doesn't even have a degree. I guess I'll burs then, good,

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Speaker 4: thank you. They really triggered me. It brought out the

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Speaker 4: worst in me.

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Speaker 2: But honestly, Beck, to start investing just takes a little

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Speaker 2: bit of curiosity and a few dollar us.

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Speaker 4: Really, that's actually so empowering to know that you know

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Speaker 4: so let's start with why we should be investing.

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Speaker 2: Okay, but nobody has gotten rich because they just saved

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Speaker 2: their money. It just doesn't happen. Like to create wealth,

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Speaker 2: to create real wealth, to create real financial freedom and

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Speaker 2: real financial security, investing has to be part of your strategy.

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Speaker 2: It can't just be like, oh, like I just save,

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Speaker 2: Like I'm pretty good with money. I know that that

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Speaker 2: is so sexy and it feels so safe. Like just

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Speaker 2: putting your money in a savings account great, But over time,

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Speaker 2: because of compounding interest, because of compounding inflation, if you

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Speaker 2: only save your going backwards, I don't know how much

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Speaker 2: clearer I can be. If you are not investing, you

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Speaker 2: are pushing yourself behind. She said what she said, But

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Speaker 2: like I used to be a little bit softer with

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Speaker 2: this and be like, oh, you could consider investing. Oh

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Speaker 2: it's a good idea. If you're not investing, you're doing

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Speaker 2: yourself a disservice because you are putting yourself behind. It

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Speaker 2: means that the money that you're putting in your account today,

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Speaker 2: Beck say you've got ten thousand dollars in a savings account,

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Speaker 2: and you're like, holy heck, that's so much money.

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Speaker 4: I'll be fine.

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Speaker 2: In ten years from now, that money is not going

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Speaker 2: to buy you ten thousand dollars worth of stuff. Like

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Speaker 2: the basket that you'll be able to buy in the

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Speaker 2: future is significantly smaller. Your money in the future is

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Speaker 2: always going to be worth less, and that is heartbreaking

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Speaker 2: because you worked so hard for it the first time.

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Speaker 2: So if you're not investing it, you are putting future

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Speaker 2: you in a worse of financial position.

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Speaker 4: Yes, and like, this.

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Speaker 2: Year is my year of being relatively aggressive about that

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Speaker 2: narrative because I'm getting so sick of seeing people say,

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Speaker 2: oh wait till I get my tax return, or like

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Speaker 2: I'm just not smart enough yet, or I just don't

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Speaker 2: feel like I can when I know you can. It's

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Speaker 2: kind of like your friend who just doesn't believe in

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Speaker 2: themselves and you're like, no, like you should do it,

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Speaker 2: you know, when your friend like that is so qualified,

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Speaker 2: So it's you know, if I should go for the

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Speaker 2: job promotion, and you're sitting across from them, and you're like,

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Speaker 2: you are so smart and intelligent and so wildly capable.

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Speaker 2: Why are you doubting yourself? That's like investing for me. Yeah,

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Speaker 2: I feel like I'm talking to my friends who I know,

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Speaker 2: have so much capability, they're just not doing it.

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Speaker 4: Not doing it. That's the thing. Is like when you're

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Speaker 4: watching like a horror movie and you can see the

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Speaker 4: murderer there and you're screaming at the TV. I have

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Speaker 4: the answer for you, but you can't hear me.

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Speaker 1: You know.

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Speaker 4: It's like I can understand the I'm not gonna say aggression,

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Speaker 4: but the passion investing is the thing that is going

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Speaker 4: to get you ahead financially. Yeah, I really respect that.

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Speaker 4: Thank you, thank you. So I am sold personal investing.

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Speaker 4: You know, I started with like ten bucks, which is

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Speaker 4: all you need.

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Speaker 2: You literally can invest in Australia nowadays with there's little

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Speaker 2: as one cent.

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Speaker 4: Yes, exactly, and where are your excuses? Totally totally.

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Speaker 2: So the ten dollars you started with, it was the

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Speaker 2: free ten dollars from Yeah.

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Speaker 4: It was free, like it wasn't even your cash, it wasn't.

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Speaker 4: But hold on, hold on.

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Speaker 2: I am obsessed with this because your free ten dollars, Yes,

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Speaker 2: you started investing. How much is in your investing account now?

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Speaker 4: Well, I have been adding money, but only because I

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Speaker 4: started this, and it's snowballed. So now it's like one

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Speaker 4: hundred dollars one hundred and one dollars. Isn't it exciting?

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Speaker 4: But it's like, yeah, once you start, it's like doesn't

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Speaker 4: actually even matter if it's going higher or lower or

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Speaker 4: sting the same. It's like, I want to keep putting

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Speaker 4: money in. It feels so good, and it's.

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Speaker 2: So good being able to start with such a little amount.

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Speaker 2: I think a lot of people have in their heads

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Speaker 2: that and you know, we'll get onto this, but they

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Speaker 2: need to start with a big amount because otherwise why bother.

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Speaker 4: But if you start with a little amount.

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Speaker 2: It doesn't feel painful, like it's scary if you've only

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Speaker 2: got five hundred dollars in your bank account and you're like, oh,

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Speaker 2: I don't want to invest that, Yeah, because that's risky.

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Speaker 4: Yea, Let's not do that. Let's just do ten dollars.

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Speaker 2: Like, let's start with an amount that feels comfortable, because

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Speaker 2: it's like the gateway. It's just going to get you

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Speaker 2: in there, and then you're just going to keep wanting more.

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Speaker 2: And like if you're going to get addicted to anything

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Speaker 2: this year, beck it's making money.

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Speaker 4: Yes, yes, yes, yes, it's twenty twenty thrive after all,

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Speaker 4: Exactly how do we overcome the fear, as you say,

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Speaker 4: like when you have like a big chunk of money,

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Speaker 4: you don't want to invest. It's a bit risky, Like

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Speaker 4: how do we overcome that fear of losing money? You know,

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Speaker 4: you put a big amount in there, maybe it goes

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Speaker 4: down a little bit, up a little bit. It's like

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Speaker 4: it's very scary to check it every day and be like,

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Speaker 4: oh good, I've lost three dollars. You know, this is

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Speaker 4: going to be like a pick your inn adventure book,

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Speaker 4: Like would you like serious and very harsh Victoria or

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Speaker 4: kind soft Victoria? Is there anyone in the middle?

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Speaker 2: No, no, no, it's just one or the other. I

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Speaker 2: want hush, Oh you want harsh ha. Why do you

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Speaker 2: think that you're so special? Why do you think your

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Speaker 2: decision is going to be more life changing than the next.

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Speaker 2: Why are there so many people in the She's on

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Speaker 2: the Money community who have been able to pull their

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Speaker 2: fingers out and invest and go okay, cool, I've just

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Speaker 2: picked two ETFs and I'm starting there and that makes

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Speaker 2: sense for me and it's working so far. Why do

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Speaker 2: you think if you are not a finance professional, that

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Speaker 2: you're going to be able to pick better than them,

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Speaker 2: or even pick better than a finance professional, and that's

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Speaker 2: what's stopping you, right, Yeah, but why are you over

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Speaker 2: analyzing it? Why are you thinking that this is about

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Speaker 2: you so much? Like I get that it's your investing portfolio,

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Speaker 2: but like, pull your finger out and just start, because

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Speaker 2: once you start, you can change. If you don't like

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Speaker 2: that ETF or you don't like that share that you've purchased,

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Speaker 2: you don't have to purchase it again.

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Speaker 4: You could even sell it.

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Speaker 2: Maybe you lose some money, you're right, But if we're

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Speaker 2: only starting with ten dollars and you lose twenty percent

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Speaker 2: of your portfolio, that's two dollars, right, And I'd prefer

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Speaker 2: you to lose two dollars and get a financial education

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Speaker 2: than have never pulled the trigger and just started.

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Speaker 4: Yeah, that's so true. But if you gets the wrong platform, yeah,

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Speaker 4: who cares? Change later?

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Speaker 2: Exactly it might cost you thirty dollars in brokerage because

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Speaker 2: you made the wrong decision, But you already had a

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Speaker 2: couple of one hundred dollars invested by the time you've

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Speaker 2: decided to change platforms, And what's thirty dollars for your

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Speaker 2: financial literacy and you're trying things?

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Speaker 4: That's a really good point, because I feel like even

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Speaker 4: just putting money in, like two dollars here and there

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Speaker 4: and to shareesias, I've still learned how to navigate the

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Speaker 4: app and how to sell and how to buy, and

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Speaker 4: those are things you might not even know. You might

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Speaker 4: not even know how to download an app. Like this

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Speaker 4: whole thing is a.

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Speaker 2: Very very good learning experience, And I think that that's

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Speaker 2: just it, right, Like so many people, as you were saying,

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Speaker 2: don't start because they're scared and you don't know how

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Speaker 2: to do that. It is risky.

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Speaker 4: I get it.

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Speaker 2: But once you've found an option that you think might work,

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Speaker 2: I think we get analysis paralysis as women, and we

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Speaker 2: try to overcomplicate things, like we find the answer and

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Speaker 2: then in the back of our heads we go, it

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Speaker 2: can't be that easy. I'm going to do some more research.

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Speaker 4: Hey, what would it could be?

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Speaker 2: Twenty twenty five? A mediocre, middle aged white man. Do

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Speaker 2: you do that? You do that bad? Yeah?

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Speaker 4: Okay, that's all we're asking ourselves this year. Okay, that

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Speaker 4: actually does make a lot of sense. But I feel

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Speaker 4: like even when people understand that, there's still something holding

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Speaker 4: them back. What about like mental blocks like feeling too inexperienced,

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Speaker 4: or scared of making the wrong decision.

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Speaker 1: Beck.

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Speaker 2: So many people hesitate to invest because they just don't

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Speaker 2: feel like they know enough for they are scared of

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Speaker 2: making mistakes. But like, those are mental barriers holding us back.

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Speaker 2: And again, you've picked the rogue Victoria today. Yes, I'm

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Speaker 2: glad you did, because she's feeling quite rogue.

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Speaker 3: Me too.

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Speaker 2: But like Sillier, people have done better than you at

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Speaker 2: investing just because they did it, like just because they

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Speaker 2: got involved, just because they picked around the ETF. Like

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Speaker 2: some of the most successful investors in this country have

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Speaker 2: just picked the top two hundred companies, Like they haven't

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Speaker 2: picked anything, you know, specific, they haven't been like, oh,

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Speaker 2: I did heaps of research into Buyo pharmaceutical sales, and

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Speaker 2: I invested in this particular company. And then I also,

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Speaker 2: you know, diversified my portfolio by going into this bio whatever.

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Speaker 2: Like we don't need to have those conversations. Tried and

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Speaker 2: true wins the race. It's like the tortoise in the

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Speaker 2: air plods along across the finish line and is not phased.

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Speaker 2: We're in our unbothered era. Like, I just think it

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Speaker 2: is so important to realize that investing is not that

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Speaker 2: deep if I can understand it, you can understand it.

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Speaker 2: It's just because you never learned that language. If just

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Speaker 2: because you didn't get taught it. And so many of

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Speaker 2: us we are worried. But they're mental barriers. And they're

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Speaker 2: often mental barriers because we are concerned about our own

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Speaker 2: performance and not doing the right thing. And what if

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Speaker 2: I mess up? But what if you're successful? What if

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Speaker 2: it just works out?

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Speaker 4: Yeah?

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Speaker 2: What if you actually just picked a really conservative investing option.

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Speaker 2: We don't need to overcomplicate it, I think exactly so

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Speaker 2: often we overcomplicate it because we go it should be

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Speaker 2: harder than this. Surely you can't just don't just create wealth.

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Speaker 2: Surely you can't just make money.

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Speaker 4: Yeah, Like, why doesn't the government all about this?

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Speaker 1: Is?

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Speaker 4: Why isn't the government's stop? I know, why are they

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Speaker 4: giving me free money? Why are they giving us money?

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Speaker 4: But it's like, I know, why are they letting me?

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Speaker 4: Letting us do this?

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Speaker 2: I mean they're taking some tax. So when you make money,

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Speaker 2: the government makes money. They're very good at it.

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Speaker 4: It's very frustrating.

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Speaker 2: I don't like that, But it's not that deep. Pick

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Speaker 2: an ETF, pick a share, Pick something that aligns with

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Speaker 2: your values. And try it, and if it doesn't work

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Speaker 2: out and you have to sell that asset, not because

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Speaker 2: there's lost heaps of money, but because you decide it's

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Speaker 2: no longer aligned with your values, sell it. Beck, you

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Speaker 2: said that you'd worked out your investing app. Is it

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Speaker 2: easy to sell something?

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Speaker 4: Yeah, it actually is. I didn't do it for a

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Speaker 4: long time, is what. I had money in there, but

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Speaker 4: I was like wanting to move things around. I was

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Speaker 4: like I don't know how to do that, and I

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Speaker 4: didn't even touch it for like weeks, and then I was.

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Speaker 2: Like, sure, it can't be.

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Speaker 4: It's really really quite easy. How hard can it be?

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Speaker 4: How hard could it be? Honestly, anything is googleable these days?

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Speaker 4: Is google it? You can do it? You can do it.

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Speaker 2: That's the energy we're taking into this year.

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Speaker 4: Exact.

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Speaker 2: I think so many of us hesitate because we just

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Speaker 2: expect that we need to be the best and the

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Speaker 2: biggest at it. And like, let's talk about imposter syndrome here.

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Speaker 2: You don't have to be an expert to become an investor.

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Speaker 2: You can become an investor today and literally be like

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Speaker 2: us thought on't or what I'm doing? Like, Beck, are

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Speaker 2: you an expert at investing, I feel like it, yeah, exactly,

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Speaker 2: But also are you an expert? Probably not no, but

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Speaker 2: are you an investor?

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Speaker 4: Yeah?

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Speaker 2: Okay, so you don't have to be an expert to

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Speaker 2: become an investor.

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Speaker 3: True.

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Speaker 2: And then you've got apps like you know you're using charess.

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Speaker 2: They make it super simple, like they want to make

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Speaker 2: it simple so that beginners are able to just start,

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Speaker 2: and like even the seasoned investors, we don't have all

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Speaker 2: the answers like do you know as a financial advisor

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Speaker 2: tax time? So like any end of quarter, I'd be

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Speaker 2: so anxious, right because if the markets weren't performing and

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Speaker 2: things were down, I was scrambling, right, not because I

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Speaker 2: had to feel things or clean up things. I'd be

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Speaker 2: scrambling to do research. So say you know, at the

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Speaker 2: end of a three month period, I would you know,

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Speaker 2: be reviewing my clients investment portfolios and like, let's say

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Speaker 2: that I was managing yours back, yeah, and like You've

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Speaker 2: put all your trust in me to manage your portfolio,

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Speaker 2: and then I go, hey, back, like, let's grab a coffee,

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Speaker 2: we'll talk about your portfolio. And I know that you're

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Speaker 2: coming into my office and then I look at your

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Speaker 2: portfolio and it's down eight percent. Do you think that

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Speaker 2: I'm not worried about that meeting?

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Speaker 4: Yeah?

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Speaker 2: That would be I would quit all this way used

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Speaker 2: to be so anxious, and I would do all this

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Speaker 2: research and I would come with like print outs of

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Speaker 2: things and print outs of their ETFU, printouts of their

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Speaker 2: shares and like the performance and why. And I would

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Speaker 2: do the market research and I would call all of

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Speaker 2: the investment houses and be like hey, cool, Like what's

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Speaker 2: your take on the market sentiment at the moment, Like

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Speaker 2: what's going on? How's it moving? Oh, it's down a

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Speaker 2: little bit. Oh why is that? Or because America did

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Speaker 2: ABC and did whatever. So I would prepare myself and

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Speaker 2: i'd have my space station of content in front of me,

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Speaker 2: and my client would walk in and be like, hey,

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Speaker 2: v how are you And I'd be like good, I'm great.

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Speaker 2: Would you like a coffee? Yep, great, I'll get you

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Speaker 2: your latte. So we want to talk about your portfolio, Beck,

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Speaker 2: I'm so sorry it's down eight percent.

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Speaker 4: And then I'd be like, but we've talked about this.

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Speaker 2: And my client be like, yeah, no worries, no worries,

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Speaker 2: that's some market, right, you said this would happen I'd

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Speaker 2: be like, did you want to know anything about it?

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Speaker 2: And they're like, have you got a hold of it?

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Speaker 4: And I'd be like, Bellielly, I'm so worried.

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Speaker 2: And I wouldn't obviously tell the client that, but in

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Speaker 2: the background I have scrambled because I'm thinking that my

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Speaker 2: client is going to march into my office and be like,

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Speaker 2: the my portfolio is down by eight percent? What are

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Speaker 2: you doing? Is this a lack of your competency? Like right,

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Speaker 2: I would have the biggest imposter syndrome. And I still

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Speaker 2: get that when I look at my own portfolio, because

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Speaker 2: I go, I'm a financial or an exponancial advisor, Surely

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Speaker 2: I should be doing well. But we can't control the markets.

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Speaker 2: And when you zoom out, you will know that over time,

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Speaker 2: long term investors are always winners over time. The investors

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Speaker 2: who just stay invested are the ones that make money.

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Speaker 2: Those ebbs and flows of eight percent here and there,

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Speaker 2: they feel big at the time if you're really like

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Speaker 2: zoning in on them. But you don't have to be

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Speaker 2: a seasoned investor to be good at investing, and sometimes

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Speaker 2: being a little bit naive actually is good for you.

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Speaker 4: Yeah, that's so true.

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Speaker 2: It's so good for you, because I get analysis paralysis.

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Speaker 2: I'm sitting here being like, okay, cool, So COVID's off

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Speaker 2: and our interest rates are still high, and interest rates

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Speaker 2: are you know, from my perspective, probably still got to

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Speaker 2: be high for the rest of this year based on

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Speaker 2: what happened in America, And like I'm extrapolating out things

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Speaker 2: in my head that lots of people would be like

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Speaker 2: what the hell right, But you're like, oh, I've finally

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Speaker 2: done my research and that ETF feels comfortable.

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Speaker 4: Yeah, yeah, that must be nice. Go and do it.

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Speaker 4: That's all you gotta do. Keep it simple exactly. So

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Speaker 4: we talked about like the mental blocks and fears, but

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Speaker 4: how do we actually move forward? What's the first step?

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Speaker 4: Would you recommend?

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Speaker 2: I have so many steps if you want to get

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Speaker 2: started investing, but let's take a really quick break because

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Speaker 2: I've got written it out. It's a fun step game

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Speaker 2: plan so that you can start your investing journey today.

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Speaker 2: And trust me, it's so much easier than you think,

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Speaker 2: because by the end of this episode, you're not just

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Speaker 2: going to be ready to take the first step. You're

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Speaker 2: going to have ten bucks from me in your account

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Speaker 2: so that you can take the first step, So don't

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Speaker 2: go anywhere.

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Speaker 4: Welcome back everyone. Before the break, V, you promised to

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Speaker 4: show us how you make.

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Speaker 2: Beck, I never promised anything. I would never make an

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Speaker 2: investing promise.

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Speaker 4: Oh what would you call it? A kind word? Yeah?

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Speaker 2: I said kindly that I would show you my five

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Speaker 2: step game plan.

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Speaker 4: That's so sweet of you. V. I read it out

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Speaker 4: and I'm very proud of it. I didn't say this before,

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Speaker 4: but I think it's really nice that your news resolution

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Speaker 4: is about other people. I never thought about it that way.

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Speaker 4: That's very very sweet. You're right. I am really nice,

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Speaker 4: a really good person. So I should buy myself a treat.

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Speaker 4: You should, absolutely, I love this. Make it about everybody else. Yeah, exactly.

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Speaker 4: A handbag. Yeah, you deserve a handbag. Thank you? Bring

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Speaker 4: that huge? That was so nice. How do we start?

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Speaker 4: What's step on the wall.

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Speaker 2: You've already started, so you've already done these things, which

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Speaker 2: is very cool.

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Speaker 4: True.

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Speaker 2: When I said five step plan, I didn't promise it

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Speaker 2: was five revolutionary steps. I just said it was a

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Speaker 2: five step plan to getting you invested. So nobody's going

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Speaker 2: to be surprised when my first step is I want

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Speaker 2: you to set clear financial goals. So I need you

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Speaker 2: to be super clear about what we want to achieve.

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Speaker 2: You're going to define what you're investing for. Is it

437
00:19:28,240 --> 00:19:30,840
Speaker 2: short time? Like are you investing so that you can

438
00:19:30,880 --> 00:19:33,240
Speaker 2: go on a holiday in five years? Or are you

439
00:19:33,320 --> 00:19:35,320
Speaker 2: investing for the long term? Are we setting ourselves up

440
00:19:35,359 --> 00:19:38,399
Speaker 2: for financial freedom by the time we're fifty, Like, if

441
00:19:38,440 --> 00:19:41,399
Speaker 2: you're already fifty, you probably need to change those game plans.

442
00:19:41,440 --> 00:19:44,360
Speaker 2: But like you know, that was just an example, sure,

443
00:19:44,640 --> 00:19:47,199
Speaker 2: and you need to decide on your time horizon and

444
00:19:47,240 --> 00:19:50,600
Speaker 2: your risk tolerance. Right, So, for example, short term investing,

445
00:19:50,640 --> 00:19:53,440
Speaker 2: we want to usually take lower risk because we don't

446
00:19:53,440 --> 00:19:56,359
Speaker 2: have the time in the market. We don't have the

447
00:19:56,480 --> 00:19:59,040
Speaker 2: time for like us to have those ebbs and flows

448
00:19:59,440 --> 00:20:01,359
Speaker 2: got time for So we actually need to pick lower

449
00:20:01,440 --> 00:20:03,600
Speaker 2: risk assets. So we might be going with our high

450
00:20:03,680 --> 00:20:06,800
Speaker 2: interest savings account or a bond. But if you're investing

451
00:20:06,840 --> 00:20:08,560
Speaker 2: for a long period of time, you can pick some

452
00:20:08,640 --> 00:20:11,560
Speaker 2: higher risk assets. She's got time on her side, she

453
00:20:11,600 --> 00:20:14,080
Speaker 2: can shine, you can pick some shares, you can pick

454
00:20:14,119 --> 00:20:18,440
Speaker 2: some ETFs comfortably. And when you're setting clear financial goals,

455
00:20:18,720 --> 00:20:21,160
Speaker 2: we don't just want I want to invest more, babe,

456
00:20:21,200 --> 00:20:24,119
Speaker 2: I need a dollar amount. I'm sorry, Like, as I

457
00:20:24,200 --> 00:20:26,760
Speaker 2: told you, this year is my year to get you invested.

458
00:20:27,200 --> 00:20:30,000
Speaker 2: And if you haven't invested yet, and I've already made

459
00:20:30,119 --> 00:20:32,840
Speaker 2: this many podcasts for you and you haven't done, it's

460
00:20:32,880 --> 00:20:34,400
Speaker 2: time for me to sit you down and be like, look,

461
00:20:34,440 --> 00:20:36,440
Speaker 2: I've got to be a little bit aggressive here. Sure,

462
00:20:36,560 --> 00:20:39,320
Speaker 2: I'm putting you on performance management to get invested.

463
00:20:39,560 --> 00:20:41,560
Speaker 4: Really sorry if you're just coming in and this is

464
00:20:41,560 --> 00:20:44,800
Speaker 4: the first episode you're listening to, ever, I think this

465
00:20:44,880 --> 00:20:47,400
Speaker 4: is still more aggressive. It's aggressive. It's going to get

466
00:20:47,440 --> 00:20:50,000
Speaker 4: you to do something. I'm an aggressive parent here.

467
00:20:50,640 --> 00:20:53,680
Speaker 2: I just want the best for you, and to get

468
00:20:53,720 --> 00:20:55,920
Speaker 2: the best for you, I actually need to just give

469
00:20:55,920 --> 00:20:56,880
Speaker 2: you some hard truths.

470
00:20:56,920 --> 00:20:59,040
Speaker 4: Gorgeous. It's tough love, but it is lough love.

471
00:20:59,080 --> 00:21:01,840
Speaker 2: But it is love all the same, and that's what counts.

472
00:21:01,840 --> 00:21:04,560
Speaker 2: So we want to be really specific about our financial goals.

473
00:21:04,560 --> 00:21:05,760
Speaker 2: We're not just going, oh, I want to go on

474
00:21:05,760 --> 00:21:07,880
Speaker 2: a holiday, or I want to retire like you want

475
00:21:07,880 --> 00:21:10,680
Speaker 2: to retire, fantastic. What does retirement look like? How much

476
00:21:10,680 --> 00:21:13,679
Speaker 2: money do we need in our retirement savings account? How

477
00:21:13,760 --> 00:21:16,200
Speaker 2: much do we need in investing? What does that actually

478
00:21:16,240 --> 00:21:19,480
Speaker 2: specifically look like? Sure, because if you're working towards a

479
00:21:19,480 --> 00:21:22,679
Speaker 2: financial goal that you actually can't achieve back, There's nothing

480
00:21:23,200 --> 00:21:27,080
Speaker 2: more unmotivating. Yeah, isn't it the worst when you're like, oh,

481
00:21:27,160 --> 00:21:28,840
Speaker 2: I can do that, I can save. Like, if you've

482
00:21:28,840 --> 00:21:30,280
Speaker 2: set the goal at the start of this year, I

483
00:21:30,320 --> 00:21:33,640
Speaker 2: want to save ten grand. Okay, can you afford twenty

484
00:21:33,680 --> 00:21:34,800
Speaker 2: seven dollars fifty a day?

485
00:21:35,000 --> 00:21:35,280
Speaker 1: Right?

486
00:21:35,840 --> 00:21:38,639
Speaker 2: So if the answer is no, then you're not going

487
00:21:38,680 --> 00:21:39,919
Speaker 2: to get to the end of this year and have

488
00:21:39,960 --> 00:21:41,000
Speaker 2: ten thousand dollars saved.

489
00:21:41,080 --> 00:21:41,439
Speaker 3: Yeah.

490
00:21:41,560 --> 00:21:43,960
Speaker 2: We need to then change the goal so that we

491
00:21:44,000 --> 00:21:46,119
Speaker 2: can achieve it, or change the timeframe, do you know

492
00:21:46,160 --> 00:21:48,560
Speaker 2: what I mean? We just need to be specific. Okay,

493
00:21:48,640 --> 00:21:51,240
Speaker 2: So now we know our goals, what's the next step?

494
00:21:51,560 --> 00:21:52,440
Speaker 4: As I said, I.

495
00:21:52,359 --> 00:21:55,359
Speaker 2: Didn't say it was going to be revolutionary, but it

496
00:21:55,480 --> 00:21:58,200
Speaker 2: is what you have to do to get invested. You're

497
00:21:58,240 --> 00:22:02,400
Speaker 2: going to understand your This one's icky, Beck. I mean,

498
00:22:02,680 --> 00:22:05,280
Speaker 2: I'm not going to say you can skip this one, okay,

499
00:22:05,320 --> 00:22:07,960
Speaker 2: but I know, Beck, you skipped this one. I did, Yes,

500
00:22:08,280 --> 00:22:10,520
Speaker 2: you skipped this one. You were like, I don't want

501
00:22:10,560 --> 00:22:13,520
Speaker 2: to understand my budget. I'm just going to invest and

502
00:22:13,640 --> 00:22:16,879
Speaker 2: see what happens, and I mean valid strategy.

503
00:22:17,080 --> 00:22:19,800
Speaker 4: Thank you. I call that the Yolo method. Yes, exactly.

504
00:22:20,160 --> 00:22:22,199
Speaker 2: What I care about is that you are invested and

505
00:22:22,240 --> 00:22:25,919
Speaker 2: it's sustainable and making sure that it's sustainable. So I

506
00:22:26,000 --> 00:22:28,480
Speaker 2: want you to start with what you can afford. Investing

507
00:22:28,480 --> 00:22:31,960
Speaker 2: doesn't require huge sums of money, but if you want

508
00:22:31,960 --> 00:22:34,280
Speaker 2: to get really serious about investing, I need you to

509
00:22:34,280 --> 00:22:36,840
Speaker 2: do a very clean, clear budget, so I know how

510
00:22:36,920 --> 00:22:39,480
Speaker 2: much you have per week or per month to invest.

511
00:22:39,720 --> 00:22:42,320
Speaker 2: That might be five dollars, it might be fifty dollars,

512
00:22:42,359 --> 00:22:45,199
Speaker 2: it might be five hundred dollars. I don't know what

513
00:22:45,240 --> 00:22:48,480
Speaker 2: that looks like. But the more clarity we have on

514
00:22:48,520 --> 00:22:51,399
Speaker 2: what you can invest, the faster we can achieve it,

515
00:22:51,480 --> 00:22:55,600
Speaker 2: and the bigger and better your investment portfolio can be sexy.

516
00:22:55,760 --> 00:22:58,679
Speaker 4: Yeah, okay, I like the sounds of that. So what personally,

517
00:22:58,680 --> 00:23:01,640
Speaker 4: I'm going to not do that? And then I mean, it's.

518
00:23:01,520 --> 00:23:04,280
Speaker 2: Your choice and no judgment. I'll give you the tools

519
00:23:04,320 --> 00:23:05,960
Speaker 2: if you don't want to use the tools.

520
00:23:06,520 --> 00:23:09,560
Speaker 4: Whatever, he's my bed, she's using your bands.

521
00:23:09,640 --> 00:23:11,919
Speaker 2: It's like there's this shovel over there back and you're like,

522
00:23:12,000 --> 00:23:13,280
Speaker 2: I'm digging with my hands.

523
00:23:13,840 --> 00:23:14,760
Speaker 4: Okay, no worries.

524
00:23:14,800 --> 00:23:16,840
Speaker 2: Pop opsis. The next thing I want you to do

525
00:23:17,240 --> 00:23:18,879
Speaker 2: is your research. But we're not going to do the

526
00:23:18,880 --> 00:23:22,520
Speaker 2: analysis paralysis type research. We are going to do clean,

527
00:23:22,880 --> 00:23:26,600
Speaker 2: clear timed research. So you know how I said before,

528
00:23:26,640 --> 00:23:29,040
Speaker 2: we need to set clear financial goals. We need to

529
00:23:29,040 --> 00:23:33,880
Speaker 2: set clean, clear times for doing finance research. Because if

530
00:23:33,920 --> 00:23:36,760
Speaker 2: I said, Beck, go and research what the best ETF is,

531
00:23:37,160 --> 00:23:40,119
Speaker 2: how long's a piece of string, you are always going

532
00:23:40,200 --> 00:23:42,399
Speaker 2: to find a problem with something. You will find what

533
00:23:42,440 --> 00:23:45,400
Speaker 2: you think is the best ETF today and tomorrow you'll

534
00:23:45,440 --> 00:23:46,920
Speaker 2: go and look and you'll be like, hey, so sorry,

535
00:23:47,000 --> 00:23:48,600
Speaker 2: I just break it down again. And one of these

536
00:23:48,640 --> 00:23:51,359
Speaker 2: companies has a really murky ESG policy, and I'm not

537
00:23:51,400 --> 00:23:52,840
Speaker 2: really sure about that. So I think I should go

538
00:23:52,880 --> 00:23:55,640
Speaker 2: back to the drawing, Like, there's the way I can

539
00:23:55,640 --> 00:23:58,159
Speaker 2: find a problem with anything. Call me you want going

540
00:23:58,160 --> 00:24:00,400
Speaker 2: to find a problem with something. I can find one. Yeah, okay,

541
00:24:00,400 --> 00:24:02,680
Speaker 2: I'll find it for you. That is not a flex

542
00:24:02,720 --> 00:24:04,399
Speaker 2: but we all do it right. So we're going to

543
00:24:04,480 --> 00:24:06,040
Speaker 2: do our research. But first we're going to set a

544
00:24:06,080 --> 00:24:08,240
Speaker 2: time frame for doing our research. So you're going to go,

545
00:24:08,280 --> 00:24:09,800
Speaker 2: all right, well, I've gotten till the end of next

546
00:24:09,800 --> 00:24:12,520
Speaker 2: week to pick or I want to spend at least

547
00:24:12,560 --> 00:24:17,200
Speaker 2: four hours researching X. So what does that actually mean? First,

548
00:24:17,240 --> 00:24:20,320
Speaker 2: I need you to understand the basics of investing. I

549
00:24:20,480 --> 00:24:24,000
Speaker 2: have more than seven hundred episodes of this show beck

550
00:24:24,320 --> 00:24:26,760
Speaker 2: for you to understand the basics. If you don't want

551
00:24:26,760 --> 00:24:29,200
Speaker 2: to go do the research yourself, just type in She's

552
00:24:29,280 --> 00:24:31,680
Speaker 2: on the money investing and a whole heap of stuff

553
00:24:31,720 --> 00:24:34,800
Speaker 2: will come up. I have done investing mini series. I

554
00:24:34,840 --> 00:24:37,879
Speaker 2: have done deep dives on different asset classes. I have

555
00:24:37,960 --> 00:24:41,440
Speaker 2: done deep dives on different investment strategies. I've done it

556
00:24:41,520 --> 00:24:43,760
Speaker 2: for you. If you don't want to do it yourself,

557
00:24:44,600 --> 00:24:46,840
Speaker 2: then after you understand the basics and I guess the

558
00:24:46,920 --> 00:24:49,080
Speaker 2: key concept. So you know what compounding is. You know

559
00:24:49,119 --> 00:24:51,520
Speaker 2: what diversification and risk and reward and all of that

560
00:24:51,560 --> 00:24:54,639
Speaker 2: fun stuff is. I need you to pick a platform. Okay,

561
00:24:54,720 --> 00:24:56,920
Speaker 2: so you need to go shopping for your platform. You're

562
00:24:56,920 --> 00:24:59,880
Speaker 2: going to start comparing the beginner friendly options to find

563
00:24:59,880 --> 00:25:03,800
Speaker 2: the best fit for your investing style. It is also

564
00:25:04,040 --> 00:25:06,240
Speaker 2: if I think that's fun, but lots of people hate it.

565
00:25:07,600 --> 00:25:10,119
Speaker 2: If you're in my investing master class, which if you're not,

566
00:25:10,320 --> 00:25:13,439
Speaker 2: absolutely should be, I actually have done the comparison for you.

567
00:25:13,680 --> 00:25:17,000
Speaker 2: I made a really big spreadsheet and I compared all

568
00:25:17,200 --> 00:25:20,600
Speaker 2: the options, Like I took every single option that is

569
00:25:20,640 --> 00:25:23,639
Speaker 2: available on the market to us and did lack a

570
00:25:23,720 --> 00:25:26,320
Speaker 2: pros and cons. I didn't tell you what the best

571
00:25:26,359 --> 00:25:29,000
Speaker 2: one is because there isn't actually a best one, isn't it.

572
00:25:29,080 --> 00:25:29,240
Speaker 3: Yeah.

573
00:25:29,240 --> 00:25:31,000
Speaker 2: It's so sick because you might be like, oh, v

574
00:25:31,160 --> 00:25:33,280
Speaker 2: I really want a sexy app, and then another person's like,

575
00:25:33,280 --> 00:25:35,520
Speaker 2: I don't care about an app like I want. Yeah,

576
00:25:35,560 --> 00:25:37,600
Speaker 2: so I've just done you know where you do like

577
00:25:37,920 --> 00:25:40,760
Speaker 2: the big tables and like there's the brand up the top,

578
00:25:40,800 --> 00:25:42,320
Speaker 2: and then down the side there's all the features and

579
00:25:42,359 --> 00:25:44,600
Speaker 2: then like crosses and ticks. Yeah, you can just have

580
00:25:44,640 --> 00:25:46,280
Speaker 2: a look at what they have and what they don't

581
00:25:46,320 --> 00:25:47,000
Speaker 2: have and compare them.

582
00:25:47,040 --> 00:25:47,879
Speaker 4: Wait where do you find that?

583
00:25:48,119 --> 00:25:50,679
Speaker 2: It's inside my investing master class? Oh my god, a

584
00:25:50,680 --> 00:25:53,080
Speaker 2: little bit gate kept. But like that's because it took

585
00:25:53,160 --> 00:25:54,200
Speaker 2: me so long.

586
00:25:54,359 --> 00:25:56,560
Speaker 4: Oh fair enough, I would be charging for that.

587
00:25:56,640 --> 00:25:59,120
Speaker 2: So we are exploring all of our platforms and we're

588
00:25:59,119 --> 00:26:01,439
Speaker 2: picking one. You're gonna kick the one that makes the

589
00:26:01,440 --> 00:26:04,800
Speaker 2: most sense for your investing style, and that's usually reflective

590
00:26:04,880 --> 00:26:06,000
Speaker 2: your personal style.

591
00:26:06,280 --> 00:26:07,639
Speaker 4: And then you're going to learn about fees.

592
00:26:08,320 --> 00:26:10,440
Speaker 2: So a lot of people are like Oh my gosh,

593
00:26:10,480 --> 00:26:13,399
Speaker 2: I don't want to pay fees to invest Mate, you

594
00:26:13,440 --> 00:26:16,119
Speaker 2: pay peanuts, you get monkeys, Like at the end of

595
00:26:16,160 --> 00:26:19,920
Speaker 2: the day, we actually want to pay fees for our

596
00:26:19,960 --> 00:26:23,880
Speaker 2: investing platform. I don't think that there are any investing

597
00:26:23,920 --> 00:26:27,200
Speaker 2: platforms in Australia that I've looked at that I go, oh,

598
00:26:27,240 --> 00:26:30,920
Speaker 2: they're absolutely taking the mickey right, Like, yeah, there are

599
00:26:30,920 --> 00:26:34,280
Speaker 2: more expensive ones, but usually they're more expensive because they

600
00:26:34,320 --> 00:26:37,239
Speaker 2: have different features or benefits that you might find value in.

601
00:26:37,280 --> 00:26:39,840
Speaker 2: And I think it wouldn't be a value. You're paying

602
00:26:39,840 --> 00:26:42,160
Speaker 2: for a feature or benefit and it's a premium price

603
00:26:42,200 --> 00:26:45,280
Speaker 2: and you don't use that feature or benefit, matter'll go, well,

604
00:26:45,320 --> 00:26:48,320
Speaker 2: why are you paying that fee? But there's no platform

605
00:26:48,359 --> 00:26:52,879
Speaker 2: in Australia from my personal perspective that is absolutely taking

606
00:26:52,880 --> 00:26:55,800
Speaker 2: the mickey on fees. So, yes, fees are very important,

607
00:26:56,000 --> 00:26:59,320
Speaker 2: but the cheapest doesn't equal the best, and I would

608
00:26:59,440 --> 00:27:01,879
Speaker 2: much prefer you to pick one that you really like

609
00:27:01,960 --> 00:27:05,280
Speaker 2: and really enjoy using and then therefore invest more money

610
00:27:05,280 --> 00:27:08,160
Speaker 2: on than going, oh, but I'm saving in an extra

611
00:27:08,280 --> 00:27:10,320
Speaker 2: lack two dollars eighty or something a month on my

612
00:27:10,560 --> 00:27:15,280
Speaker 2: yes z because also get this, your investing fees are

613
00:27:15,280 --> 00:27:16,280
Speaker 2: tax deductible.

614
00:27:16,680 --> 00:27:20,439
Speaker 4: Really, you can claim them on tax. It's incredible to know.

615
00:27:20,920 --> 00:27:23,760
Speaker 2: So come tax time, back your shares, these fees that

616
00:27:23,800 --> 00:27:24,440
Speaker 2: you've been paying.

617
00:27:24,520 --> 00:27:27,199
Speaker 4: Hmm, she's gonna claim them. Oh my god, that's actually

618
00:27:27,320 --> 00:27:29,800
Speaker 4: so good, that's so exciting. Before I get to the

619
00:27:29,800 --> 00:27:31,359
Speaker 4: next question, I just want to ask you what does

620
00:27:31,560 --> 00:27:32,199
Speaker 4: ESG stand for.

621
00:27:32,400 --> 00:27:36,520
Speaker 2: ESG is environmental social governance and it is here in

622
00:27:36,560 --> 00:27:40,119
Speaker 2: Australia and honestly internationally, the closest thing in Australia to

623
00:27:40,160 --> 00:27:43,080
Speaker 2: having like an ethics policy. So ethics isn't governed, but

624
00:27:43,480 --> 00:27:47,200
Speaker 2: ESG is this way of kind of measuring companies and saying,

625
00:27:47,240 --> 00:27:50,479
Speaker 2: you know, environmentally, what are they doing society, what are

626
00:27:50,520 --> 00:27:53,000
Speaker 2: they doing? And then governance in their organization are they

627
00:27:53,040 --> 00:27:55,080
Speaker 2: good eggs or bad eggs? And it's usually a pretty

628
00:27:55,119 --> 00:27:55,639
Speaker 2: good measure.

629
00:27:55,800 --> 00:28:00,280
Speaker 4: Okay, okay, good to know day school day exactly. It

630
00:28:00,320 --> 00:28:01,800
Speaker 4: sounds like there are so many options out there, so

631
00:28:01,840 --> 00:28:04,000
Speaker 4: it can feel pretty overwhelming, I imagine. V I know

632
00:28:04,040 --> 00:28:07,640
Speaker 4: you can't really like say exactly, but I'm just kind

633
00:28:07,680 --> 00:28:09,639
Speaker 4: of trying to get a bit of an understanding what

634
00:28:09,720 --> 00:28:12,959
Speaker 4: kind of like investments are perfect for beginners to focus

635
00:28:12,960 --> 00:28:15,640
Speaker 4: on to get started. You're a beginner, aren't you. Yeah,

636
00:28:15,880 --> 00:28:16,840
Speaker 4: seasoned investor?

637
00:28:17,080 --> 00:28:17,399
Speaker 1: What are you?

638
00:28:17,520 --> 00:28:20,560
Speaker 4: Oh god, I'm on my way to season Yeah yeah yeah.

639
00:28:20,600 --> 00:28:24,080
Speaker 2: So as a non beginner investor, you big dog.

640
00:28:24,680 --> 00:28:27,159
Speaker 4: What did you pick? I think it was S and

641
00:28:27,359 --> 00:28:32,480
Speaker 4: P five hundred to one hundred companies and also Vanguard.

642
00:28:32,680 --> 00:28:35,440
Speaker 2: Yeah, so that's the supplier. Ah, did you pick like

643
00:28:35,480 --> 00:28:38,000
Speaker 2: an ETF or like direct shares? Sounds like if you

644
00:28:38,040 --> 00:28:40,760
Speaker 2: went with Vanguard, you picked like ETFs or index funds.

645
00:28:40,760 --> 00:28:42,800
Speaker 2: I think it was ETF And then my dad recommends

646
00:28:42,800 --> 00:28:45,200
Speaker 2: this random one that sounds like titomatic or something.

647
00:28:45,240 --> 00:28:47,240
Speaker 4: I don't know what that is, but cool. Anyway, that's me.

648
00:28:47,480 --> 00:28:50,080
Speaker 4: That's how you got your investing advice. But you picked

649
00:28:50,080 --> 00:28:53,640
Speaker 4: an ETF, I believe. So why Well just because like

650
00:28:53,920 --> 00:28:56,840
Speaker 4: I don't know what I'm looking for. So I was like,

651
00:28:56,840 --> 00:28:58,360
Speaker 4: I'll just get a bit of everything bay.

652
00:28:59,080 --> 00:29:00,560
Speaker 2: Yeah. It's like when you go to the shops for

653
00:29:00,560 --> 00:29:02,240
Speaker 2: the first time. There's a new lolly shop and you've

654
00:29:02,400 --> 00:29:04,920
Speaker 2: never had these lollies. Yes, So like I don't want

655
00:29:04,960 --> 00:29:06,840
Speaker 2: to just like go all in on one lolly. I'm

656
00:29:06,880 --> 00:29:08,640
Speaker 2: going to get the mixed bags, see what I like,

657
00:29:08,680 --> 00:29:10,080
Speaker 2: and then I can go back for more if I

658
00:29:10,120 --> 00:29:12,800
Speaker 2: want lea. Yeah, that's how i'm That is how I

659
00:29:12,840 --> 00:29:17,640
Speaker 2: feel about ETFs and in our community when I talk

660
00:29:17,760 --> 00:29:20,600
Speaker 2: to everybody who's you know, started investing or has been

661
00:29:20,600 --> 00:29:24,280
Speaker 2: investing for a while. ETFs or exchange traded funds, which

662
00:29:24,280 --> 00:29:27,800
Speaker 2: are basically buckets of lots of options. They seem to

663
00:29:27,840 --> 00:29:31,680
Speaker 2: be a very popular option for beginners, and they are

664
00:29:31,760 --> 00:29:35,640
Speaker 2: because they give you instant diversification. So instead of going

665
00:29:35,680 --> 00:29:37,800
Speaker 2: all in on one company, like you're not going to

666
00:29:37,840 --> 00:29:39,360
Speaker 2: the shere market and going I would have put all

667
00:29:39,400 --> 00:29:42,000
Speaker 2: my money in this one particular bank because I heard

668
00:29:42,080 --> 00:29:46,000
Speaker 2: the banks are stable, right, You're actually putting your money

669
00:29:46,160 --> 00:29:48,840
Speaker 2: across things. So you said the S and P five hundred,

670
00:29:49,120 --> 00:29:52,120
Speaker 2: and that just means the top five hundred companies. One

671
00:29:52,160 --> 00:29:54,920
Speaker 2: of the more popular ones is the ASX two hundred,

672
00:29:54,960 --> 00:29:57,520
Speaker 2: which is the top two hundred companies on the Australian

673
00:29:57,560 --> 00:30:01,440
Speaker 2: Stock Exchange, and you can just purchase that in one purchase. Yeah,

674
00:30:01,520 --> 00:30:04,680
Speaker 2: So it's obviously not advice, but I see most people

675
00:30:05,280 --> 00:30:09,480
Speaker 2: picking an ETF as their first investment because it's easy,

676
00:30:09,720 --> 00:30:12,240
Speaker 2: there's a good amount of diversification from the get go,

677
00:30:12,320 --> 00:30:13,760
Speaker 2: and you can kind of dip your toes in the

678
00:30:13,800 --> 00:30:17,880
Speaker 2: water and then you can spread out from there. Personally,

679
00:30:17,960 --> 00:30:21,080
Speaker 2: I've never really spread out from there. I have my

680
00:30:21,200 --> 00:30:24,080
Speaker 2: investment portfolio and it's made up of and I'm never

681
00:30:24,120 --> 00:30:26,000
Speaker 2: gonna share what ETFs they are.

682
00:30:26,200 --> 00:30:28,080
Speaker 4: Oh my god, I'm so excited for a second.

683
00:30:28,120 --> 00:30:29,959
Speaker 2: I'll tell your flying, I'll tell your flying. I'll never

684
00:30:30,000 --> 00:30:32,080
Speaker 2: share what ETFs they are because I know that that

685
00:30:33,000 --> 00:30:36,200
Speaker 2: you know, I probably legally can, but I genuinely feel

686
00:30:36,200 --> 00:30:38,400
Speaker 2: like that would be me giving advice because I just

687
00:30:38,520 --> 00:30:39,760
Speaker 2: know that people would copy me.

688
00:30:39,920 --> 00:30:43,400
Speaker 4: Right, I certainly would, Yeah, exactly, That's why I'm gatekeeping it.

689
00:30:43,520 --> 00:30:46,200
Speaker 2: But I have two ETFs, and what I will say

690
00:30:46,280 --> 00:30:49,280
Speaker 2: is one is Australian and one is International. And then

691
00:30:49,560 --> 00:30:54,000
Speaker 2: I like clues, have not clues, Like it's just me going, oh,

692
00:30:54,080 --> 00:30:55,600
Speaker 2: I don't want to put all my eggs in one

693
00:30:55,640 --> 00:30:59,720
Speaker 2: Australian basket. If International is doing well, Australia is usually

694
00:30:59,720 --> 00:31:01,920
Speaker 2: a little bit down, and if Australia is doing well,

695
00:31:01,960 --> 00:31:05,000
Speaker 2: like it balances out. I just it makes me feel comfortable.

696
00:31:05,200 --> 00:31:08,600
Speaker 2: And then I have like my other investments where I've gone, oh,

697
00:31:08,680 --> 00:31:11,280
Speaker 2: I do want to own that company directly, and like

698
00:31:11,320 --> 00:31:15,520
Speaker 2: they're smaller shareholdings. So I'm only sharing that not because

699
00:31:15,560 --> 00:31:18,160
Speaker 2: you have to copy my strategy, but because I think

700
00:31:18,440 --> 00:31:20,479
Speaker 2: a lot of people go, I'll start with an ETF

701
00:31:20,520 --> 00:31:23,360
Speaker 2: and then I'll become a proper investor and I'll, you know,

702
00:31:23,600 --> 00:31:27,680
Speaker 2: have a whole heap of individual shares. You don't need

703
00:31:27,720 --> 00:31:31,000
Speaker 2: to do that even like full blown big dog investors.

704
00:31:31,040 --> 00:31:32,880
Speaker 2: And I'm not saying a big dog investor, but like

705
00:31:32,960 --> 00:31:36,760
Speaker 2: ex financial advisor has managed millions over time, I still

706
00:31:36,880 --> 00:31:39,360
Speaker 2: just do that because tried and true wins the race.

707
00:31:39,640 --> 00:31:40,560
Speaker 4: Yeah, so true.

708
00:31:40,720 --> 00:31:43,280
Speaker 2: I'm not here to think that I'm smarter than all

709
00:31:43,320 --> 00:31:47,120
Speaker 2: of the big investment fund managers. Well, and if you

710
00:31:47,200 --> 00:31:49,120
Speaker 2: think you are, and you can pick your own investment

711
00:31:49,200 --> 00:31:52,800
Speaker 2: portfolio pop off cys, that's very impressive. I don't even

712
00:31:52,840 --> 00:31:53,760
Speaker 2: think I can do that.

713
00:31:53,840 --> 00:31:55,160
Speaker 4: Oh god, I wouldn't be able to do it in

714
00:31:55,200 --> 00:31:59,000
Speaker 4: this life exactly. Okay, So here we are. We've done

715
00:31:59,000 --> 00:32:01,000
Speaker 4: our research. Queen, what's next?

716
00:32:01,080 --> 00:32:03,080
Speaker 2: We need to stop saying slay. We're in twenty twenty

717
00:32:03,120 --> 00:32:07,320
Speaker 2: five and like I left slay in twenty twenty three, Like, honestly.

718
00:32:07,760 --> 00:32:09,240
Speaker 4: You know, you have to pick a new word though,

719
00:32:09,360 --> 00:32:13,720
Speaker 4: you're going to make like Nike you're gonna make like Nike. Okay,

720
00:32:14,280 --> 00:32:17,120
Speaker 4: is this the next step or you're telling you that's

721
00:32:17,120 --> 00:32:18,280
Speaker 4: your new word for slay.

722
00:32:18,480 --> 00:32:21,360
Speaker 2: No, that's me saying you're going to make like Nike

723
00:32:21,600 --> 00:32:22,240
Speaker 2: and just.

724
00:32:22,520 --> 00:32:26,400
Speaker 4: Do oh slow today.

725
00:32:26,760 --> 00:32:28,200
Speaker 2: When I was in high school, I had a crush

726
00:32:28,240 --> 00:32:30,360
Speaker 2: on a boy who had one ear pierced and he

727
00:32:30,400 --> 00:32:34,040
Speaker 2: had the Nike swoosh like this swimp earring. And I

728
00:32:34,080 --> 00:32:34,920
Speaker 2: think about that a lot.

729
00:32:35,480 --> 00:32:37,720
Speaker 4: It's like because he's hot or no, that was just

730
00:32:37,720 --> 00:32:40,280
Speaker 4: a choice. I yeah, that was just.

731
00:32:40,240 --> 00:32:43,920
Speaker 2: A choice one out of ten. Was he really thinking, Oh,

732
00:32:43,960 --> 00:32:46,200
Speaker 2: my hair looks like justin Timberlake's and I have a

733
00:32:46,320 --> 00:32:47,800
Speaker 2: Nike earring, The girls are going to.

734
00:32:47,800 --> 00:32:50,000
Speaker 4: Be lining up? The man was not wrong.

735
00:32:50,680 --> 00:32:54,080
Speaker 2: Sorry, but like researching back to this story, the researching

736
00:32:54,080 --> 00:32:56,520
Speaker 2: and the planning, Yep, we've done it. We keep doing

737
00:32:56,560 --> 00:32:58,920
Speaker 2: it though, Okay, as women, I think we keep doing it,

738
00:32:58,960 --> 00:33:00,480
Speaker 2: and then we keep doing it again and we think

739
00:33:00,520 --> 00:33:03,160
Speaker 2: we haven't done it well enough because we don't back ourselves.

740
00:33:03,960 --> 00:33:05,960
Speaker 2: It is not that deep. You are thinking too much

741
00:33:05,960 --> 00:33:09,920
Speaker 2: about yourself in this situation. You've done your research. Nothing

742
00:33:10,480 --> 00:33:12,920
Speaker 2: is going to happen, No money is going to be made,

743
00:33:12,960 --> 00:33:15,680
Speaker 2: no wealth is going to be created. No financial freedom

744
00:33:15,760 --> 00:33:18,520
Speaker 2: is going to be ascertained until you make the first step,

745
00:33:18,880 --> 00:33:23,800
Speaker 2: until you actually invest. Starting is the most critical step.

746
00:33:24,120 --> 00:33:26,440
Speaker 2: You can do all the research in the entire world,

747
00:33:27,000 --> 00:33:29,640
Speaker 2: but if you don't start, it was worth nothing. You

748
00:33:29,680 --> 00:33:31,920
Speaker 2: have wasted your time. And do you know what the

749
00:33:31,920 --> 00:33:35,720
Speaker 2: cool thing about research is you can research once you've started.

750
00:33:35,960 --> 00:33:38,640
Speaker 2: So like you could research, you could make a decision.

751
00:33:38,920 --> 00:33:41,640
Speaker 2: Then you can research some more and change your decision,

752
00:33:41,960 --> 00:33:44,720
Speaker 2: or you could research some more and invest in something

753
00:33:44,720 --> 00:33:48,480
Speaker 2: else and collect things along the way. Not everything has

754
00:33:48,520 --> 00:33:51,480
Speaker 2: to always look the same. The hardest part in investing

755
00:33:51,600 --> 00:33:55,840
Speaker 2: is just starting, and it's usually starting because we are

756
00:33:55,920 --> 00:33:59,920
Speaker 2: doubting ourselves. It's not Oh it's so hard to start

757
00:34:00,160 --> 00:34:02,640
Speaker 2: because I just I don't have all of the forms

758
00:34:02,640 --> 00:34:05,440
Speaker 2: I need to get the app that I want. And

759
00:34:05,480 --> 00:34:08,520
Speaker 2: you know, are the barrier to entry is really high, Becklock,

760
00:34:08,560 --> 00:34:10,879
Speaker 2: I just don't have a million dollars to invest. If

761
00:34:10,880 --> 00:34:12,840
Speaker 2: that was it, I'd understand. I'd be like, Oh, I

762
00:34:12,880 --> 00:34:16,439
Speaker 2: get why you haven't done that? M barrier to entry low.

763
00:34:16,760 --> 00:34:18,080
Speaker 4: Yeah, the reason you.

764
00:34:18,120 --> 00:34:21,759
Speaker 2: Haven't started is because you haven't trusted yourself enough to

765
00:34:21,840 --> 00:34:22,560
Speaker 2: make a decision.

766
00:34:22,719 --> 00:34:24,080
Speaker 4: Trust yourself, maybe, girl.

767
00:34:24,040 --> 00:34:26,600
Speaker 2: Exactly pull your finger out, because once you've done it,

768
00:34:26,600 --> 00:34:29,520
Speaker 2: you no longer on the sidelines. You are a seasoned investor.

769
00:34:29,560 --> 00:34:31,319
Speaker 2: You're in the game and your money is working for you.

770
00:34:31,480 --> 00:34:34,879
Speaker 4: That's crazy. In literally like one nano second, anyone who's

771
00:34:34,880 --> 00:34:36,480
Speaker 4: listening could be seasoned investor.

772
00:34:36,560 --> 00:34:39,279
Speaker 2: And I mean if you are an Australian resident and

773
00:34:39,400 --> 00:34:43,319
Speaker 2: you have been working in Australia, you are already an

774
00:34:43,320 --> 00:34:45,800
Speaker 2: investor because you have superannuation. So if you're not caring

775
00:34:45,800 --> 00:34:48,360
Speaker 2: about that, start caring about that today because all of

776
00:34:48,400 --> 00:34:51,440
Speaker 2: this stuff that I'm saying is actually applicable to your

777
00:34:51,480 --> 00:34:52,160
Speaker 2: super as well.

778
00:34:52,239 --> 00:34:55,279
Speaker 4: Hmmm, oh god, that's scary. We're just pulling our finger out,

779
00:34:55,360 --> 00:34:57,839
Speaker 4: like yeah, well, exactly right. I love you, but we

780
00:34:57,920 --> 00:35:00,480
Speaker 4: need to just do some work now totally to start

781
00:35:00,480 --> 00:35:03,640
Speaker 4: investing now. It doesn't have to consume your world. Just dedicately,

782
00:35:03,640 --> 00:35:05,920
Speaker 4: like an hour, you know, yep, just a little bit,

783
00:35:06,120 --> 00:35:09,319
Speaker 4: just watch some investing tiktoks, like start in a way

784
00:35:09,400 --> 00:35:10,600
Speaker 4: that makes sense for you.

785
00:35:11,239 --> 00:35:13,440
Speaker 2: But at the end of the day, you need to start.

786
00:35:13,760 --> 00:35:15,560
Speaker 2: I'm sorry, exactly, you just need to start.

787
00:35:15,800 --> 00:35:19,280
Speaker 4: Just start. So we've made our first investment, yes, slay,

788
00:35:19,560 --> 00:35:21,319
Speaker 4: what's next? Not slay, not slay.

789
00:35:21,400 --> 00:35:24,720
Speaker 2: We're not saying slay anymore. Honestly, We're going to stay

790
00:35:24,719 --> 00:35:28,040
Speaker 2: in the community. So we're going to stay educating ourselves.

791
00:35:28,080 --> 00:35:31,120
Speaker 2: We are consistently going to be looking into different ways.

792
00:35:31,120 --> 00:35:34,440
Speaker 2: We are going to be engaging in content that makes

793
00:35:34,520 --> 00:35:37,759
Speaker 2: us smarter and makes us richer. We are going to

794
00:35:37,800 --> 00:35:40,719
Speaker 2: be talking about investments with our friends. We are going

795
00:35:40,719 --> 00:35:44,200
Speaker 2: to be learning about diversification and making sure that you know,

796
00:35:44,560 --> 00:35:47,800
Speaker 2: once we have an investment and we have our little

797
00:35:47,840 --> 00:35:52,920
Speaker 2: portfolio going, we are keeping diversification at the forefront of

798
00:35:52,960 --> 00:35:54,919
Speaker 2: what we are thinking about, what we are talking about.

799
00:35:54,920 --> 00:35:57,600
Speaker 2: I've done a whole podcast on this. I have broken

800
00:35:57,640 --> 00:36:00,399
Speaker 2: it down so that you don't have to like I've

801
00:36:00,440 --> 00:36:03,120
Speaker 2: broken it down so that you understand it. But essentially,

802
00:36:03,160 --> 00:36:06,560
Speaker 2: diversification is a strategy that involves spreading all your investments

803
00:36:06,560 --> 00:36:09,759
Speaker 2: across different assets and industries and regions so that if

804
00:36:09,760 --> 00:36:12,239
Speaker 2: one is underperforming, then the other can balance it out.

805
00:36:12,280 --> 00:36:14,200
Speaker 2: Like when I was talking about my two atfs and

806
00:36:14,239 --> 00:36:16,480
Speaker 2: how I have like one in Australia and one internationally.

807
00:36:16,560 --> 00:36:18,960
Speaker 2: The reason I've done that is diversification. You want to

808
00:36:19,000 --> 00:36:20,600
Speaker 2: be in the right place, you want to be you know,

809
00:36:20,760 --> 00:36:25,040
Speaker 2: consuming investing news, reading investing newsletters, making sure that you

810
00:36:25,200 --> 00:36:28,239
Speaker 2: kind of understand the market, because I think that you

811
00:36:28,320 --> 00:36:31,040
Speaker 2: will invest more if you're engaged in it and excited

812
00:36:31,080 --> 00:36:33,640
Speaker 2: about it. The other thing I would say is if

813
00:36:33,640 --> 00:36:35,440
Speaker 2: you've gotten this far and you're like v I am

814
00:36:35,480 --> 00:36:37,440
Speaker 2: ready to do this, but I don't know where to start,

815
00:36:37,480 --> 00:36:39,520
Speaker 2: and I want to do it with you, girlfriend, I

816
00:36:39,520 --> 00:36:42,320
Speaker 2: want you to do it with me too. Literally, investing

817
00:36:42,400 --> 00:36:45,600
Speaker 2: is my favorite topic in the entire world. Ow She's

818
00:36:45,640 --> 00:36:48,120
Speaker 2: on the Money. Investing master class, I would say, is

819
00:36:48,400 --> 00:36:51,600
Speaker 2: literally perfect for you in that I walk you through

820
00:36:51,800 --> 00:36:54,600
Speaker 2: how to diversify your portfolio, why it is important, how

821
00:36:54,640 --> 00:36:57,160
Speaker 2: to do it even as a beginner. Obviously there's an

822
00:36:57,200 --> 00:36:59,239
Speaker 2: investment with that. You do need to pay for my

823
00:36:59,320 --> 00:37:01,399
Speaker 2: investing core, But if you don't want to do that,

824
00:37:01,400 --> 00:37:05,160
Speaker 2: that is absolutely fine. I have so many free resources

825
00:37:05,200 --> 00:37:08,239
Speaker 2: that I've built for you, more than seven hundred podcasts.

826
00:37:08,360 --> 00:37:11,880
Speaker 2: I have five books now beck and you can listen

827
00:37:11,920 --> 00:37:14,000
Speaker 2: to them for free on Spotify.

828
00:37:14,640 --> 00:37:16,400
Speaker 4: Like this is kind of like that.

829
00:37:16,600 --> 00:37:18,480
Speaker 2: I want to take it to the next level, and

830
00:37:18,520 --> 00:37:20,319
Speaker 2: I want to get my stuff together, and I really

831
00:37:20,320 --> 00:37:22,080
Speaker 2: want to be a good investor, and I want to

832
00:37:22,120 --> 00:37:24,439
Speaker 2: do it with UV in twenty twenty five, that's when

833
00:37:24,440 --> 00:37:25,120
Speaker 2: you need to do that.

834
00:37:25,320 --> 00:37:26,399
Speaker 4: Yeah, I just want to.

835
00:37:26,320 --> 00:37:28,960
Speaker 2: Be very clear you can invest without doing my course.

836
00:37:30,080 --> 00:37:33,279
Speaker 2: I think that is so important to just caveat that.

837
00:37:33,640 --> 00:37:35,000
Speaker 2: Not because I don't think you should do it. I

838
00:37:35,000 --> 00:37:36,640
Speaker 2: think you should do it. I know it is worth it,

839
00:37:36,920 --> 00:37:39,080
Speaker 2: but I don't want you thinking, oh, the only way,

840
00:37:39,239 --> 00:37:41,439
Speaker 2: like if you only have ten dollars and you're like, well,

841
00:37:41,840 --> 00:37:45,279
Speaker 2: I can't afford the court, No, babe, you can. But

842
00:37:45,480 --> 00:37:48,120
Speaker 2: also keep your eyes peeled because we will be offering

843
00:37:48,160 --> 00:37:52,040
Speaker 2: scholarships this season for our investing masterclass. So if you're like, oh,

844
00:37:52,120 --> 00:37:54,560
Speaker 2: I would really like a scholarship for that course, I've

845
00:37:54,560 --> 00:37:57,680
Speaker 2: got your back. But the important thing here when it

846
00:37:57,680 --> 00:37:59,799
Speaker 2: comes to investing is that I want you to stay

847
00:38:00,040 --> 00:38:03,680
Speaker 2: consistent with your strategy and really avoid letting short term

848
00:38:03,719 --> 00:38:07,480
Speaker 2: market movements influence your decision. Yes, honestly, all about the

849
00:38:07,520 --> 00:38:10,759
Speaker 2: long game. It's not say it can be scary, but

850
00:38:11,000 --> 00:38:13,440
Speaker 2: just stick with it, babe, Just stick quick and do it.

851
00:38:13,520 --> 00:38:16,399
Speaker 4: Trust the process. And also you don't need to know

852
00:38:16,560 --> 00:38:18,960
Speaker 4: everything before you start, exactly as you're saying, fee, you

853
00:38:19,000 --> 00:38:21,120
Speaker 4: can learn as you go. That's the beauty of.

854
00:38:21,080 --> 00:38:26,080
Speaker 2: It exactly, Beck and investing. Honestly, I know, I get it.

855
00:38:26,080 --> 00:38:29,560
Speaker 2: It is overwhelming at first, but it is about starting small,

856
00:38:29,800 --> 00:38:33,160
Speaker 2: staying consistent, and learning as you go. The earlier you begin,

857
00:38:33,640 --> 00:38:36,279
Speaker 2: the more time that your money has to grow and

858
00:38:36,320 --> 00:38:36,919
Speaker 2: work for you.

859
00:38:37,120 --> 00:38:41,239
Speaker 4: Babe, summary of it. Start now because you'll be richer sooner. Like,

860
00:38:41,640 --> 00:38:43,719
Speaker 4: I don't know how. I can't be clearer than that.

861
00:38:43,800 --> 00:38:45,279
Speaker 4: It's so it's you.

862
00:38:45,280 --> 00:38:47,520
Speaker 2: When I get rich, I will teach you how to

863
00:38:47,560 --> 00:38:47,799
Speaker 2: do that.

864
00:38:48,000 --> 00:38:50,040
Speaker 4: Yeah, just do it, Just do it. And if you're

865
00:38:50,040 --> 00:38:51,680
Speaker 4: ready to take things to next level, our she is

866
00:38:51,719 --> 00:38:54,839
Speaker 4: on the Money Investing Masterclass is literally designed to make

867
00:38:54,840 --> 00:38:58,080
Speaker 4: you feel confident and in control of your financial future.

868
00:38:58,480 --> 00:39:00,880
Speaker 4: If you don't mind, I might think to the waitlist

869
00:39:00,920 --> 00:39:02,799
Speaker 4: for the next intake in the Oh my gosh, yes,

870
00:39:02,840 --> 00:39:03,279
Speaker 4: please do.

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00:39:03,480 --> 00:39:06,080
Speaker 2: And of course, because I told you this year is

872
00:39:06,160 --> 00:39:08,640
Speaker 2: my year to get you invested, I've got lots more

873
00:39:08,640 --> 00:39:11,720
Speaker 2: investing content coming on the podcast for twenty twenty Thrive

874
00:39:11,960 --> 00:39:14,759
Speaker 2: And as always, please do not forget to follow or

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00:39:14,800 --> 00:39:17,600
Speaker 2: subscribe so you don't miss a thing and you help

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00:39:17,600 --> 00:39:18,800
Speaker 2: support our little podcasts.

877
00:39:19,840 --> 00:39:20,680
Speaker 1: No, we'll see you.

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00:39:20,680 --> 00:39:22,160
Speaker 4: Soon, guys. See you guys on Friday.

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00:39:22,280 --> 00:39:31,160
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Speaker 2: financial decision. If you do choose to buy a financial product,

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Speaker 2: read the PDS TMD and obtain appropriate financial advice tailored

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Speaker 2: towards your needs. Victoria Divine and She's on the Money

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