Speaker 1: Hello, my name is Satasha Nabananga Bamblet. I'm a proud
Speaker 1: or the Order Kerni Whaltbury and a waddery woman. And
Speaker 1: before we get started on She's on the Money podcast,
Speaker 1: I would like to acknowledge the traditional custodians of the
Speaker 1: land of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 4: Hello, and welcome to She's on the Money. The podcast
Speaker 4: that shows you investing isn't just for the rich. It's
Speaker 4: for you to not to say that you're not rich.
Speaker 4: Who I was listening to this? Maybe there's really rich
Speaker 4: people listening. Yeah, maybe maybe they got rich because of
Speaker 4: this podcast.
Speaker 2: Why are you still here?
Speaker 1: Yeah?
Speaker 4: Well good questions. Yeah, well maybe they should be teaching
Speaker 4: us at this point. Yeah, you call me, you call
Speaker 4: us please. Does it get to January each year and
Speaker 4: you promise yourself this will be the year I finally
Speaker 4: invest only to pushed off because it feels too hard
Speaker 4: or too confusing. Well, maybe you've gone to start, opened
Speaker 4: an up or even googled how to invest, but got
Speaker 4: cold feet. Or perhaps you're stuck thinking do I even
Speaker 4: have enough money to invest? That's a silly, silly, silly question.
Speaker 4: Silly question. Well, whether you've got ten dollars or ten
Speaker 4: thousand dollars. We're here today to show you that anyone,
Speaker 4: and I mean anyone can become an investor this year.
Speaker 4: I'm excited an investor and I'm in excited and an investor. Sorry,
Speaker 4: I forgot my title. Yeah, and with me is ex
Speaker 4: financial advisor. That felt really mean you're still a financial
Speaker 4: advisor at heart.
Speaker 2: Yeah, like on the inside, but sometimes it's not what's
Speaker 2: on the.
Speaker 4: Inside that well, that's very true.
Speaker 2: So I am an ex financial adviser, like I'm hoping
Speaker 2: you feel very different yes about me being an ex
Speaker 2: financial advisor than you do about an ex partner.
Speaker 4: It's it's on par in the bin. Victoria Divide is
Speaker 4: here to talk us through investing.
Speaker 2: I know I am, and I'm very excited about this.
Speaker 2: In fact, I've managed a lot of people's investment portfolios.
Speaker 4: And small flex made them a lot of money.
Speaker 2: So like low key, do you want to learn about
Speaker 2: investing from just some player bonni Instagram who is just
Speaker 2: doing it themselves? Or do you want to learn it
Speaker 2: from an ex financial advisor who's literally made other people
Speaker 2: millions of dollars and has done it herself.
Speaker 4: I don't know. I don't know. That is a tricky one.
Speaker 4: I don't know.
Speaker 2: I don't want advice from someone who doesn't know how
Speaker 2: to invest. Finance doesn't walk to the walk.
Speaker 4: Yeah, now, finance bros.
Speaker 2: Do you know what the funniest thing about finance bros
Speaker 2: Side note is how many of them might ended up
Speaker 2: with as clients and they were useless with money. Oh
Speaker 2: that is It's so satisfying. Anyway, I loved all of
Speaker 2: my clients equally. It's what I meant.
Speaker 4: Oh that's what. No judgment, No judgment.
Speaker 2: But do you know what my goal is, apart from
Speaker 2: being less judgmental to finance bros. Is in twenty twenty five.
Speaker 4: Beck, I should probably know this, but I haven't. Maybe
Speaker 4: I just wasn't.
Speaker 2: Obviously it's the same as last year, and that's to
Speaker 2: get more women investing.
Speaker 4: I'm talking literally.
Speaker 2: Everyone from the woman who is just like smashing avotoasted
Speaker 2: brunch to the woman who is swearing that she's gonna
Speaker 2: start wants to just gets return in.
Speaker 4: June like not yet.
Speaker 2: Because investing isn't just for the Warren Buffets of the world, Beck,
Speaker 2: It's for anyone who's ready to make their money work
Speaker 2: harder than the friend who always organizes the group chat.
Speaker 2: And the best bit, it doesn't take thousands of dollars
Speaker 2: or even a finance degree, which turns out I didn't
Speaker 2: need that to get started.
Speaker 4: Well you can check that out. Yeah, I just pop
Speaker 4: it in the bin.
Speaker 2: Actually, I don't know if you follow me on TikTok,
Speaker 2: but one time I pretended to set it alt.
Speaker 4: That was quite fun. Or did you like make a
Speaker 4: fake one and then.
Speaker 2: Said no, no, I pretended to set the actual thing
Speaker 2: alight because someone was like, she doesn't know what she's
Speaker 2: talking about.
Speaker 4: She doesn't even have a degree. I guess I'll burs then, good,
Speaker 4: thank you. They really triggered me. It brought out the
Speaker 4: worst in me.
Speaker 2: But honestly, Beck, to start investing just takes a little
Speaker 2: bit of curiosity and a few dollar us.
Speaker 4: Really, that's actually so empowering to know that you know
Speaker 4: so let's start with why we should be investing.
Speaker 2: Okay, but nobody has gotten rich because they just saved
Speaker 2: their money. It just doesn't happen. Like to create wealth,
Speaker 2: to create real wealth, to create real financial freedom and
Speaker 2: real financial security, investing has to be part of your strategy.
Speaker 2: It can't just be like, oh, like I just save,
Speaker 2: Like I'm pretty good with money. I know that that
Speaker 2: is so sexy and it feels so safe. Like just
Speaker 2: putting your money in a savings account great, But over time,
Speaker 2: because of compounding interest, because of compounding inflation, if you
Speaker 2: only save your going backwards, I don't know how much
Speaker 2: clearer I can be. If you are not investing, you
Speaker 2: are pushing yourself behind. She said what she said, But
Speaker 2: like I used to be a little bit softer with
Speaker 2: this and be like, oh, you could consider investing. Oh
Speaker 2: it's a good idea. If you're not investing, you're doing
Speaker 2: yourself a disservice because you are putting yourself behind. It
Speaker 2: means that the money that you're putting in your account today,
Speaker 2: Beck say you've got ten thousand dollars in a savings account,
Speaker 2: and you're like, holy heck, that's so much money.
Speaker 4: I'll be fine.
Speaker 2: In ten years from now, that money is not going
Speaker 2: to buy you ten thousand dollars worth of stuff. Like
Speaker 2: the basket that you'll be able to buy in the
Speaker 2: future is significantly smaller. Your money in the future is
Speaker 2: always going to be worth less, and that is heartbreaking
Speaker 2: because you worked so hard for it the first time.
Speaker 2: So if you're not investing it, you are putting future
Speaker 2: you in a worse of financial position.
Speaker 4: Yes, and like, this.
Speaker 2: Year is my year of being relatively aggressive about that
Speaker 2: narrative because I'm getting so sick of seeing people say,
Speaker 2: oh wait till I get my tax return, or like
Speaker 2: I'm just not smart enough yet, or I just don't
Speaker 2: feel like I can when I know you can. It's
Speaker 2: kind of like your friend who just doesn't believe in
Speaker 2: themselves and you're like, no, like you should do it,
Speaker 2: you know, when your friend like that is so qualified,
Speaker 2: So it's you know, if I should go for the
Speaker 2: job promotion, and you're sitting across from them, and you're like,
Speaker 2: you are so smart and intelligent and so wildly capable.
Speaker 2: Why are you doubting yourself? That's like investing for me. Yeah,
Speaker 2: I feel like I'm talking to my friends who I know,
Speaker 2: have so much capability, they're just not doing it.
Speaker 4: Not doing it. That's the thing. Is like when you're
Speaker 4: watching like a horror movie and you can see the
Speaker 4: murderer there and you're screaming at the TV. I have
Speaker 4: the answer for you, but you can't hear me.
Speaker 1: You know.
Speaker 4: It's like I can understand the I'm not gonna say aggression,
Speaker 4: but the passion investing is the thing that is going
Speaker 4: to get you ahead financially. Yeah, I really respect that.
Speaker 4: Thank you, thank you. So I am sold personal investing.
Speaker 4: You know, I started with like ten bucks, which is
Speaker 4: all you need.
Speaker 2: You literally can invest in Australia nowadays with there's little
Speaker 2: as one cent.
Speaker 4: Yes, exactly, and where are your excuses? Totally totally.
Speaker 2: So the ten dollars you started with, it was the
Speaker 2: free ten dollars from Yeah.
Speaker 4: It was free, like it wasn't even your cash, it wasn't.
Speaker 4: But hold on, hold on.
Speaker 2: I am obsessed with this because your free ten dollars, Yes,
Speaker 2: you started investing. How much is in your investing account now?
Speaker 4: Well, I have been adding money, but only because I
Speaker 4: started this, and it's snowballed. So now it's like one
Speaker 4: hundred dollars one hundred and one dollars. Isn't it exciting?
Speaker 4: But it's like, yeah, once you start, it's like doesn't
Speaker 4: actually even matter if it's going higher or lower or
Speaker 4: sting the same. It's like, I want to keep putting
Speaker 4: money in. It feels so good, and it's.
Speaker 2: So good being able to start with such a little amount.
Speaker 2: I think a lot of people have in their heads
Speaker 2: that and you know, we'll get onto this, but they
Speaker 2: need to start with a big amount because otherwise why bother.
Speaker 4: But if you start with a little amount.
Speaker 2: It doesn't feel painful, like it's scary if you've only
Speaker 2: got five hundred dollars in your bank account and you're like, oh,
Speaker 2: I don't want to invest that, Yeah, because that's risky.
Speaker 4: Yea, Let's not do that. Let's just do ten dollars.
Speaker 2: Like, let's start with an amount that feels comfortable, because
Speaker 2: it's like the gateway. It's just going to get you
Speaker 2: in there, and then you're just going to keep wanting more.
Speaker 2: And like if you're going to get addicted to anything
Speaker 2: this year, beck it's making money.
Speaker 4: Yes, yes, yes, yes, it's twenty twenty thrive after all,
Speaker 4: Exactly how do we overcome the fear, as you say,
Speaker 4: like when you have like a big chunk of money,
Speaker 4: you don't want to invest. It's a bit risky, Like
Speaker 4: how do we overcome that fear of losing money? You know,
Speaker 4: you put a big amount in there, maybe it goes
Speaker 4: down a little bit, up a little bit. It's like
Speaker 4: it's very scary to check it every day and be like,
Speaker 4: oh good, I've lost three dollars. You know, this is
Speaker 4: going to be like a pick your inn adventure book,
Speaker 4: Like would you like serious and very harsh Victoria or
Speaker 4: kind soft Victoria? Is there anyone in the middle?
Speaker 2: No, no, no, it's just one or the other. I
Speaker 2: want hush, Oh you want harsh ha. Why do you
Speaker 2: think that you're so special? Why do you think your
Speaker 2: decision is going to be more life changing than the next.
Speaker 2: Why are there so many people in the She's on
Speaker 2: the Money community who have been able to pull their
Speaker 2: fingers out and invest and go okay, cool, I've just
Speaker 2: picked two ETFs and I'm starting there and that makes
Speaker 2: sense for me and it's working so far. Why do
Speaker 2: you think if you are not a finance professional, that
Speaker 2: you're going to be able to pick better than them,
Speaker 2: or even pick better than a finance professional, and that's
Speaker 2: what's stopping you, right, Yeah, but why are you over
Speaker 2: analyzing it? Why are you thinking that this is about
Speaker 2: you so much? Like I get that it's your investing portfolio,
Speaker 2: but like, pull your finger out and just start, because
Speaker 2: once you start, you can change. If you don't like
Speaker 2: that ETF or you don't like that share that you've purchased,
Speaker 2: you don't have to purchase it again.
Speaker 4: You could even sell it.
Speaker 2: Maybe you lose some money, you're right, But if we're
Speaker 2: only starting with ten dollars and you lose twenty percent
Speaker 2: of your portfolio, that's two dollars, right, And I'd prefer
Speaker 2: you to lose two dollars and get a financial education
Speaker 2: than have never pulled the trigger and just started.
Speaker 4: Yeah, that's so true. But if you gets the wrong platform, yeah,
Speaker 4: who cares? Change later?
Speaker 2: Exactly it might cost you thirty dollars in brokerage because
Speaker 2: you made the wrong decision, But you already had a
Speaker 2: couple of one hundred dollars invested by the time you've
Speaker 2: decided to change platforms, And what's thirty dollars for your
Speaker 2: financial literacy and you're trying things?
Speaker 4: That's a really good point, because I feel like even
Speaker 4: just putting money in, like two dollars here and there
Speaker 4: and to shareesias, I've still learned how to navigate the
Speaker 4: app and how to sell and how to buy, and
Speaker 4: those are things you might not even know. You might
Speaker 4: not even know how to download an app. Like this
Speaker 4: whole thing is a.
Speaker 2: Very very good learning experience, And I think that that's
Speaker 2: just it, right, Like so many people, as you were saying,
Speaker 2: don't start because they're scared and you don't know how
Speaker 2: to do that. It is risky.
Speaker 4: I get it.
Speaker 2: But once you've found an option that you think might work,
Speaker 2: I think we get analysis paralysis as women, and we
Speaker 2: try to overcomplicate things, like we find the answer and
Speaker 2: then in the back of our heads we go, it
Speaker 2: can't be that easy. I'm going to do some more research.
Speaker 4: Hey, what would it could be?
Speaker 2: Twenty twenty five? A mediocre, middle aged white man. Do
Speaker 2: you do that? You do that bad? Yeah?
Speaker 4: Okay, that's all we're asking ourselves this year. Okay, that
Speaker 4: actually does make a lot of sense. But I feel
Speaker 4: like even when people understand that, there's still something holding
Speaker 4: them back. What about like mental blocks like feeling too inexperienced,
Speaker 4: or scared of making the wrong decision.
Speaker 1: Beck.
Speaker 2: So many people hesitate to invest because they just don't
Speaker 2: feel like they know enough for they are scared of
Speaker 2: making mistakes. But like, those are mental barriers holding us back.
Speaker 2: And again, you've picked the rogue Victoria today. Yes, I'm
Speaker 2: glad you did, because she's feeling quite rogue.
Speaker 3: Me too.
Speaker 2: But like Sillier, people have done better than you at
Speaker 2: investing just because they did it, like just because they
Speaker 2: got involved, just because they picked around the ETF. Like
Speaker 2: some of the most successful investors in this country have
Speaker 2: just picked the top two hundred companies, Like they haven't
Speaker 2: picked anything, you know, specific, they haven't been like, oh,
Speaker 2: I did heaps of research into Buyo pharmaceutical sales, and
Speaker 2: I invested in this particular company. And then I also,
Speaker 2: you know, diversified my portfolio by going into this bio whatever.
Speaker 2: Like we don't need to have those conversations. Tried and
Speaker 2: true wins the race. It's like the tortoise in the
Speaker 2: air plods along across the finish line and is not phased.
Speaker 2: We're in our unbothered era. Like, I just think it
Speaker 2: is so important to realize that investing is not that
Speaker 2: deep if I can understand it, you can understand it.
Speaker 2: It's just because you never learned that language. If just
Speaker 2: because you didn't get taught it. And so many of
Speaker 2: us we are worried. But they're mental barriers. And they're
Speaker 2: often mental barriers because we are concerned about our own
Speaker 2: performance and not doing the right thing. And what if
Speaker 2: I mess up? But what if you're successful? What if
Speaker 2: it just works out?
Speaker 4: Yeah?
Speaker 2: What if you actually just picked a really conservative investing option.
Speaker 2: We don't need to overcomplicate it, I think exactly so
Speaker 2: often we overcomplicate it because we go it should be
Speaker 2: harder than this. Surely you can't just don't just create wealth.
Speaker 2: Surely you can't just make money.
Speaker 4: Yeah, Like, why doesn't the government all about this?
Speaker 1: Is?
Speaker 4: Why isn't the government's stop? I know, why are they
Speaker 4: giving me free money? Why are they giving us money?
Speaker 4: But it's like, I know, why are they letting me?
Speaker 4: Letting us do this?
Speaker 2: I mean they're taking some tax. So when you make money,
Speaker 2: the government makes money. They're very good at it.
Speaker 4: It's very frustrating.
Speaker 2: I don't like that, But it's not that deep. Pick
Speaker 2: an ETF, pick a share, Pick something that aligns with
Speaker 2: your values. And try it, and if it doesn't work
Speaker 2: out and you have to sell that asset, not because
Speaker 2: there's lost heaps of money, but because you decide it's
Speaker 2: no longer aligned with your values, sell it. Beck, you
Speaker 2: said that you'd worked out your investing app. Is it
Speaker 2: easy to sell something?
Speaker 4: Yeah, it actually is. I didn't do it for a
Speaker 4: long time, is what. I had money in there, but
Speaker 4: I was like wanting to move things around. I was
Speaker 4: like I don't know how to do that, and I
Speaker 4: didn't even touch it for like weeks, and then I was.
Speaker 2: Like, sure, it can't be.
Speaker 4: It's really really quite easy. How hard can it be?
Speaker 4: How hard could it be? Honestly, anything is googleable these days?
Speaker 4: Is google it? You can do it? You can do it.
Speaker 2: That's the energy we're taking into this year.
Speaker 4: Exact.
Speaker 2: I think so many of us hesitate because we just
Speaker 2: expect that we need to be the best and the
Speaker 2: biggest at it. And like, let's talk about imposter syndrome here.
Speaker 2: You don't have to be an expert to become an investor.
Speaker 2: You can become an investor today and literally be like
Speaker 2: us thought on't or what I'm doing? Like, Beck, are
Speaker 2: you an expert at investing, I feel like it, yeah, exactly,
Speaker 2: But also are you an expert? Probably not no, but
Speaker 2: are you an investor?
Speaker 4: Yeah?
Speaker 2: Okay, so you don't have to be an expert to
Speaker 2: become an investor.
Speaker 3: True.
Speaker 2: And then you've got apps like you know you're using charess.
Speaker 2: They make it super simple, like they want to make
Speaker 2: it simple so that beginners are able to just start,
Speaker 2: and like even the seasoned investors, we don't have all
Speaker 2: the answers like do you know as a financial advisor
Speaker 2: tax time? So like any end of quarter, I'd be
Speaker 2: so anxious, right because if the markets weren't performing and
Speaker 2: things were down, I was scrambling, right, not because I
Speaker 2: had to feel things or clean up things. I'd be
Speaker 2: scrambling to do research. So say you know, at the
Speaker 2: end of a three month period, I would you know,
Speaker 2: be reviewing my clients investment portfolios and like, let's say
Speaker 2: that I was managing yours back, yeah, and like You've
Speaker 2: put all your trust in me to manage your portfolio,
Speaker 2: and then I go, hey, back, like, let's grab a coffee,
Speaker 2: we'll talk about your portfolio. And I know that you're
Speaker 2: coming into my office and then I look at your
Speaker 2: portfolio and it's down eight percent. Do you think that
Speaker 2: I'm not worried about that meeting?
Speaker 4: Yeah?
Speaker 2: That would be I would quit all this way used
Speaker 2: to be so anxious, and I would do all this
Speaker 2: research and I would come with like print outs of
Speaker 2: things and print outs of their ETFU, printouts of their
Speaker 2: shares and like the performance and why. And I would
Speaker 2: do the market research and I would call all of
Speaker 2: the investment houses and be like hey, cool, Like what's
Speaker 2: your take on the market sentiment at the moment, Like
Speaker 2: what's going on? How's it moving? Oh, it's down a
Speaker 2: little bit. Oh why is that? Or because America did
Speaker 2: ABC and did whatever. So I would prepare myself and
Speaker 2: i'd have my space station of content in front of me,
Speaker 2: and my client would walk in and be like, hey,
Speaker 2: v how are you And I'd be like good, I'm great.
Speaker 2: Would you like a coffee? Yep, great, I'll get you
Speaker 2: your latte. So we want to talk about your portfolio, Beck,
Speaker 2: I'm so sorry it's down eight percent.
Speaker 4: And then I'd be like, but we've talked about this.
Speaker 2: And my client be like, yeah, no worries, no worries,
Speaker 2: that's some market, right, you said this would happen I'd
Speaker 2: be like, did you want to know anything about it?
Speaker 2: And they're like, have you got a hold of it?
Speaker 4: And I'd be like, Bellielly, I'm so worried.
Speaker 2: And I wouldn't obviously tell the client that, but in
Speaker 2: the background I have scrambled because I'm thinking that my
Speaker 2: client is going to march into my office and be like,
Speaker 2: the my portfolio is down by eight percent? What are
Speaker 2: you doing? Is this a lack of your competency? Like right,
Speaker 2: I would have the biggest imposter syndrome. And I still
Speaker 2: get that when I look at my own portfolio, because
Speaker 2: I go, I'm a financial or an exponancial advisor, Surely
Speaker 2: I should be doing well. But we can't control the markets.
Speaker 2: And when you zoom out, you will know that over time,
Speaker 2: long term investors are always winners over time. The investors
Speaker 2: who just stay invested are the ones that make money.
Speaker 2: Those ebbs and flows of eight percent here and there,
Speaker 2: they feel big at the time if you're really like
Speaker 2: zoning in on them. But you don't have to be
Speaker 2: a seasoned investor to be good at investing, and sometimes
Speaker 2: being a little bit naive actually is good for you.
Speaker 4: Yeah, that's so true.
Speaker 2: It's so good for you, because I get analysis paralysis.
Speaker 2: I'm sitting here being like, okay, cool, So COVID's off
Speaker 2: and our interest rates are still high, and interest rates
Speaker 2: are you know, from my perspective, probably still got to
Speaker 2: be high for the rest of this year based on
Speaker 2: what happened in America, And like I'm extrapolating out things
Speaker 2: in my head that lots of people would be like
Speaker 2: what the hell right, But you're like, oh, I've finally
Speaker 2: done my research and that ETF feels comfortable.
Speaker 4: Yeah, yeah, that must be nice. Go and do it.
Speaker 4: That's all you gotta do. Keep it simple exactly. So
Speaker 4: we talked about like the mental blocks and fears, but
Speaker 4: how do we actually move forward? What's the first step?
Speaker 4: Would you recommend?
Speaker 2: I have so many steps if you want to get
Speaker 2: started investing, but let's take a really quick break because
Speaker 2: I've got written it out. It's a fun step game
Speaker 2: plan so that you can start your investing journey today.
Speaker 2: And trust me, it's so much easier than you think,
Speaker 2: because by the end of this episode, you're not just
Speaker 2: going to be ready to take the first step. You're
Speaker 2: going to have ten bucks from me in your account
Speaker 2: so that you can take the first step, So don't
Speaker 2: go anywhere.
Speaker 4: Welcome back everyone. Before the break, V, you promised to
Speaker 4: show us how you make.
Speaker 2: Beck, I never promised anything. I would never make an
Speaker 2: investing promise.
Speaker 4: Oh what would you call it? A kind word? Yeah?
Speaker 2: I said kindly that I would show you my five
Speaker 2: step game plan.
Speaker 4: That's so sweet of you. V. I read it out
Speaker 4: and I'm very proud of it. I didn't say this before,
Speaker 4: but I think it's really nice that your news resolution
Speaker 4: is about other people. I never thought about it that way.
Speaker 4: That's very very sweet. You're right. I am really nice,
Speaker 4: a really good person. So I should buy myself a treat.
Speaker 4: You should, absolutely, I love this. Make it about everybody else. Yeah, exactly.
Speaker 4: A handbag. Yeah, you deserve a handbag. Thank you? Bring
Speaker 4: that huge? That was so nice. How do we start?
Speaker 4: What's step on the wall.
Speaker 2: You've already started, so you've already done these things, which
Speaker 2: is very cool.
Speaker 4: True.
Speaker 2: When I said five step plan, I didn't promise it
Speaker 2: was five revolutionary steps. I just said it was a
Speaker 2: five step plan to getting you invested. So nobody's going
Speaker 2: to be surprised when my first step is I want
Speaker 2: you to set clear financial goals. So I need you
Speaker 2: to be super clear about what we want to achieve.
Speaker 2: You're going to define what you're investing for. Is it
Speaker 2: short time? Like are you investing so that you can
Speaker 2: go on a holiday in five years? Or are you
Speaker 2: investing for the long term? Are we setting ourselves up
Speaker 2: for financial freedom by the time we're fifty, Like, if
Speaker 2: you're already fifty, you probably need to change those game plans.
Speaker 2: But like you know, that was just an example, sure,
Speaker 2: and you need to decide on your time horizon and
Speaker 2: your risk tolerance. Right, So, for example, short term investing,
Speaker 2: we want to usually take lower risk because we don't
Speaker 2: have the time in the market. We don't have the
Speaker 2: time for like us to have those ebbs and flows
Speaker 2: got time for So we actually need to pick lower
Speaker 2: risk assets. So we might be going with our high
Speaker 2: interest savings account or a bond. But if you're investing
Speaker 2: for a long period of time, you can pick some
Speaker 2: higher risk assets. She's got time on her side, she
Speaker 2: can shine, you can pick some shares, you can pick
Speaker 2: some ETFs comfortably. And when you're setting clear financial goals,
Speaker 2: we don't just want I want to invest more, babe,
Speaker 2: I need a dollar amount. I'm sorry, Like, as I
Speaker 2: told you, this year is my year to get you invested.
Speaker 2: And if you haven't invested yet, and I've already made
Speaker 2: this many podcasts for you and you haven't done, it's
Speaker 2: time for me to sit you down and be like, look,
Speaker 2: I've got to be a little bit aggressive here. Sure,
Speaker 2: I'm putting you on performance management to get invested.
Speaker 4: Really sorry if you're just coming in and this is
Speaker 4: the first episode you're listening to, ever, I think this
Speaker 4: is still more aggressive. It's aggressive. It's going to get
Speaker 4: you to do something. I'm an aggressive parent here.
Speaker 2: I just want the best for you, and to get
Speaker 2: the best for you, I actually need to just give
Speaker 2: you some hard truths.
Speaker 4: Gorgeous. It's tough love, but it is lough love.
Speaker 2: But it is love all the same, and that's what counts.
Speaker 2: So we want to be really specific about our financial goals.
Speaker 2: We're not just going, oh, I want to go on
Speaker 2: a holiday, or I want to retire like you want
Speaker 2: to retire, fantastic. What does retirement look like? How much
Speaker 2: money do we need in our retirement savings account? How
Speaker 2: much do we need in investing? What does that actually
Speaker 2: specifically look like? Sure, because if you're working towards a
Speaker 2: financial goal that you actually can't achieve back, There's nothing
Speaker 2: more unmotivating. Yeah, isn't it the worst when you're like, oh,
Speaker 2: I can do that, I can save. Like, if you've
Speaker 2: set the goal at the start of this year, I
Speaker 2: want to save ten grand. Okay, can you afford twenty
Speaker 2: seven dollars fifty a day?
Speaker 1: Right?
Speaker 2: So if the answer is no, then you're not going
Speaker 2: to get to the end of this year and have
Speaker 2: ten thousand dollars saved.
Speaker 3: Yeah.
Speaker 2: We need to then change the goal so that we
Speaker 2: can achieve it, or change the timeframe, do you know
Speaker 2: what I mean? We just need to be specific. Okay,
Speaker 2: So now we know our goals, what's the next step?
Speaker 4: As I said, I.
Speaker 2: Didn't say it was going to be revolutionary, but it
Speaker 2: is what you have to do to get invested. You're
Speaker 2: going to understand your This one's icky, Beck. I mean,
Speaker 2: I'm not going to say you can skip this one, okay,
Speaker 2: but I know, Beck, you skipped this one. I did, Yes,
Speaker 2: you skipped this one. You were like, I don't want
Speaker 2: to understand my budget. I'm just going to invest and
Speaker 2: see what happens, and I mean valid strategy.
Speaker 4: Thank you. I call that the Yolo method. Yes, exactly.
Speaker 2: What I care about is that you are invested and
Speaker 2: it's sustainable and making sure that it's sustainable. So I
Speaker 2: want you to start with what you can afford. Investing
Speaker 2: doesn't require huge sums of money, but if you want
Speaker 2: to get really serious about investing, I need you to
Speaker 2: do a very clean, clear budget, so I know how
Speaker 2: much you have per week or per month to invest.
Speaker 2: That might be five dollars, it might be fifty dollars,
Speaker 2: it might be five hundred dollars. I don't know what
Speaker 2: that looks like. But the more clarity we have on
Speaker 2: what you can invest, the faster we can achieve it,
Speaker 2: and the bigger and better your investment portfolio can be sexy.
Speaker 4: Yeah, okay, I like the sounds of that. So what personally,
Speaker 4: I'm going to not do that? And then I mean, it's.
Speaker 2: Your choice and no judgment. I'll give you the tools
Speaker 2: if you don't want to use the tools.
Speaker 4: Whatever, he's my bed, she's using your bands.
Speaker 2: It's like there's this shovel over there back and you're like,
Speaker 2: I'm digging with my hands.
Speaker 4: Okay, no worries.
Speaker 2: Pop opsis. The next thing I want you to do
Speaker 2: is your research. But we're not going to do the
Speaker 2: analysis paralysis type research. We are going to do clean,
Speaker 2: clear timed research. So you know how I said before,
Speaker 2: we need to set clear financial goals. We need to
Speaker 2: set clean, clear times for doing finance research. Because if
Speaker 2: I said, Beck, go and research what the best ETF is,
Speaker 2: how long's a piece of string, you are always going
Speaker 2: to find a problem with something. You will find what
Speaker 2: you think is the best ETF today and tomorrow you'll
Speaker 2: go and look and you'll be like, hey, so sorry,
Speaker 2: I just break it down again. And one of these
Speaker 2: companies has a really murky ESG policy, and I'm not
Speaker 2: really sure about that. So I think I should go
Speaker 2: back to the drawing, Like, there's the way I can
Speaker 2: find a problem with anything. Call me you want going
Speaker 2: to find a problem with something. I can find one. Yeah, okay,
Speaker 2: I'll find it for you. That is not a flex
Speaker 2: but we all do it right. So we're going to
Speaker 2: do our research. But first we're going to set a
Speaker 2: time frame for doing our research. So you're going to go,
Speaker 2: all right, well, I've gotten till the end of next
Speaker 2: week to pick or I want to spend at least
Speaker 2: four hours researching X. So what does that actually mean? First,
Speaker 2: I need you to understand the basics of investing. I
Speaker 2: have more than seven hundred episodes of this show beck
Speaker 2: for you to understand the basics. If you don't want
Speaker 2: to go do the research yourself, just type in She's
Speaker 2: on the money investing and a whole heap of stuff
Speaker 2: will come up. I have done investing mini series. I
Speaker 2: have done deep dives on different asset classes. I have
Speaker 2: done deep dives on different investment strategies. I've done it
Speaker 2: for you. If you don't want to do it yourself,
Speaker 2: then after you understand the basics and I guess the
Speaker 2: key concept. So you know what compounding is. You know
Speaker 2: what diversification and risk and reward and all of that
Speaker 2: fun stuff is. I need you to pick a platform. Okay,
Speaker 2: so you need to go shopping for your platform. You're
Speaker 2: going to start comparing the beginner friendly options to find
Speaker 2: the best fit for your investing style. It is also
Speaker 2: if I think that's fun, but lots of people hate it.
Speaker 2: If you're in my investing master class, which if you're not,
Speaker 2: absolutely should be, I actually have done the comparison for you.
Speaker 2: I made a really big spreadsheet and I compared all
Speaker 2: the options, Like I took every single option that is
Speaker 2: available on the market to us and did lack a
Speaker 2: pros and cons. I didn't tell you what the best
Speaker 2: one is because there isn't actually a best one, isn't it.
Speaker 3: Yeah.
Speaker 2: It's so sick because you might be like, oh, v
Speaker 2: I really want a sexy app, and then another person's like,
Speaker 2: I don't care about an app like I want. Yeah,
Speaker 2: so I've just done you know where you do like
Speaker 2: the big tables and like there's the brand up the top,
Speaker 2: and then down the side there's all the features and
Speaker 2: then like crosses and ticks. Yeah, you can just have
Speaker 2: a look at what they have and what they don't
Speaker 2: have and compare them.
Speaker 4: Wait where do you find that?
Speaker 2: It's inside my investing master class? Oh my god, a
Speaker 2: little bit gate kept. But like that's because it took
Speaker 2: me so long.
Speaker 4: Oh fair enough, I would be charging for that.
Speaker 2: So we are exploring all of our platforms and we're
Speaker 2: picking one. You're gonna kick the one that makes the
Speaker 2: most sense for your investing style, and that's usually reflective
Speaker 2: your personal style.
Speaker 4: And then you're going to learn about fees.
Speaker 2: So a lot of people are like Oh my gosh,
Speaker 2: I don't want to pay fees to invest Mate, you
Speaker 2: pay peanuts, you get monkeys, Like at the end of
Speaker 2: the day, we actually want to pay fees for our
Speaker 2: investing platform. I don't think that there are any investing
Speaker 2: platforms in Australia that I've looked at that I go, oh,
Speaker 2: they're absolutely taking the mickey right, Like, yeah, there are
Speaker 2: more expensive ones, but usually they're more expensive because they
Speaker 2: have different features or benefits that you might find value in.
Speaker 2: And I think it wouldn't be a value. You're paying
Speaker 2: for a feature or benefit and it's a premium price
Speaker 2: and you don't use that feature or benefit, matter'll go, well,
Speaker 2: why are you paying that fee? But there's no platform
Speaker 2: in Australia from my personal perspective that is absolutely taking
Speaker 2: the mickey on fees. So, yes, fees are very important,
Speaker 2: but the cheapest doesn't equal the best, and I would
Speaker 2: much prefer you to pick one that you really like
Speaker 2: and really enjoy using and then therefore invest more money
Speaker 2: on than going, oh, but I'm saving in an extra
Speaker 2: lack two dollars eighty or something a month on my
Speaker 2: yes z because also get this, your investing fees are
Speaker 2: tax deductible.
Speaker 4: Really, you can claim them on tax. It's incredible to know.
Speaker 2: So come tax time, back your shares, these fees that
Speaker 2: you've been paying.
Speaker 4: Hmm, she's gonna claim them. Oh my god, that's actually
Speaker 4: so good, that's so exciting. Before I get to the
Speaker 4: next question, I just want to ask you what does
Speaker 4: ESG stand for.
Speaker 2: ESG is environmental social governance and it is here in
Speaker 2: Australia and honestly internationally, the closest thing in Australia to
Speaker 2: having like an ethics policy. So ethics isn't governed, but
Speaker 2: ESG is this way of kind of measuring companies and saying,
Speaker 2: you know, environmentally, what are they doing society, what are
Speaker 2: they doing? And then governance in their organization are they
Speaker 2: good eggs or bad eggs? And it's usually a pretty
Speaker 2: good measure.
Speaker 4: Okay, okay, good to know day school day exactly. It
Speaker 4: sounds like there are so many options out there, so
Speaker 4: it can feel pretty overwhelming, I imagine. V I know
Speaker 4: you can't really like say exactly, but I'm just kind
Speaker 4: of trying to get a bit of an understanding what
Speaker 4: kind of like investments are perfect for beginners to focus
Speaker 4: on to get started. You're a beginner, aren't you. Yeah,
Speaker 4: seasoned investor?
Speaker 1: What are you?
Speaker 4: Oh god, I'm on my way to season Yeah yeah yeah.
Speaker 2: So as a non beginner investor, you big dog.
Speaker 4: What did you pick? I think it was S and
Speaker 4: P five hundred to one hundred companies and also Vanguard.
Speaker 2: Yeah, so that's the supplier. Ah, did you pick like
Speaker 2: an ETF or like direct shares? Sounds like if you
Speaker 2: went with Vanguard, you picked like ETFs or index funds.
Speaker 2: I think it was ETF And then my dad recommends
Speaker 2: this random one that sounds like titomatic or something.
Speaker 4: I don't know what that is, but cool. Anyway, that's me.
Speaker 4: That's how you got your investing advice. But you picked
Speaker 4: an ETF, I believe. So why Well just because like
Speaker 4: I don't know what I'm looking for. So I was like,
Speaker 4: I'll just get a bit of everything bay.
Speaker 2: Yeah. It's like when you go to the shops for
Speaker 2: the first time. There's a new lolly shop and you've
Speaker 2: never had these lollies. Yes, So like I don't want
Speaker 2: to just like go all in on one lolly. I'm
Speaker 2: going to get the mixed bags, see what I like,
Speaker 2: and then I can go back for more if I
Speaker 2: want lea. Yeah, that's how i'm That is how I
Speaker 2: feel about ETFs and in our community when I talk
Speaker 2: to everybody who's you know, started investing or has been
Speaker 2: investing for a while. ETFs or exchange traded funds, which
Speaker 2: are basically buckets of lots of options. They seem to
Speaker 2: be a very popular option for beginners, and they are
Speaker 2: because they give you instant diversification. So instead of going
Speaker 2: all in on one company, like you're not going to
Speaker 2: the shere market and going I would have put all
Speaker 2: my money in this one particular bank because I heard
Speaker 2: the banks are stable, right, You're actually putting your money
Speaker 2: across things. So you said the S and P five hundred,
Speaker 2: and that just means the top five hundred companies. One
Speaker 2: of the more popular ones is the ASX two hundred,
Speaker 2: which is the top two hundred companies on the Australian
Speaker 2: Stock Exchange, and you can just purchase that in one purchase. Yeah,
Speaker 2: So it's obviously not advice, but I see most people
Speaker 2: picking an ETF as their first investment because it's easy,
Speaker 2: there's a good amount of diversification from the get go,
Speaker 2: and you can kind of dip your toes in the
Speaker 2: water and then you can spread out from there. Personally,
Speaker 2: I've never really spread out from there. I have my
Speaker 2: investment portfolio and it's made up of and I'm never
Speaker 2: gonna share what ETFs they are.
Speaker 4: Oh my god, I'm so excited for a second.
Speaker 2: I'll tell your flying, I'll tell your flying. I'll never
Speaker 2: share what ETFs they are because I know that that
Speaker 2: you know, I probably legally can, but I genuinely feel
Speaker 2: like that would be me giving advice because I just
Speaker 2: know that people would copy me.
Speaker 4: Right, I certainly would, Yeah, exactly, That's why I'm gatekeeping it.
Speaker 2: But I have two ETFs, and what I will say
Speaker 2: is one is Australian and one is International. And then
Speaker 2: I like clues, have not clues, Like it's just me going, oh,
Speaker 2: I don't want to put all my eggs in one
Speaker 2: Australian basket. If International is doing well, Australia is usually
Speaker 2: a little bit down, and if Australia is doing well,
Speaker 2: like it balances out. I just it makes me feel comfortable.
Speaker 2: And then I have like my other investments where I've gone, oh,
Speaker 2: I do want to own that company directly, and like
Speaker 2: they're smaller shareholdings. So I'm only sharing that not because
Speaker 2: you have to copy my strategy, but because I think
Speaker 2: a lot of people go, I'll start with an ETF
Speaker 2: and then I'll become a proper investor and I'll, you know,
Speaker 2: have a whole heap of individual shares. You don't need
Speaker 2: to do that even like full blown big dog investors.
Speaker 2: And I'm not saying a big dog investor, but like
Speaker 2: ex financial advisor has managed millions over time, I still
Speaker 2: just do that because tried and true wins the race.
Speaker 4: Yeah, so true.
Speaker 2: I'm not here to think that I'm smarter than all
Speaker 2: of the big investment fund managers. Well, and if you
Speaker 2: think you are, and you can pick your own investment
Speaker 2: portfolio pop off cys, that's very impressive. I don't even
Speaker 2: think I can do that.
Speaker 4: Oh god, I wouldn't be able to do it in
Speaker 4: this life exactly. Okay, So here we are. We've done
Speaker 4: our research. Queen, what's next?
Speaker 2: We need to stop saying slay. We're in twenty twenty
Speaker 2: five and like I left slay in twenty twenty three, Like, honestly.
Speaker 4: You know, you have to pick a new word though,
Speaker 4: you're going to make like Nike you're gonna make like Nike. Okay,
Speaker 4: is this the next step or you're telling you that's
Speaker 4: your new word for slay.
Speaker 2: No, that's me saying you're going to make like Nike
Speaker 2: and just.
Speaker 4: Do oh slow today.
Speaker 2: When I was in high school, I had a crush
Speaker 2: on a boy who had one ear pierced and he
Speaker 2: had the Nike swoosh like this swimp earring. And I
Speaker 2: think about that a lot.
Speaker 4: It's like because he's hot or no, that was just
Speaker 4: a choice. I yeah, that was just.
Speaker 2: A choice one out of ten. Was he really thinking, Oh,
Speaker 2: my hair looks like justin Timberlake's and I have a
Speaker 2: Nike earring, The girls are going to.
Speaker 4: Be lining up? The man was not wrong.
Speaker 2: Sorry, but like researching back to this story, the researching
Speaker 2: and the planning, Yep, we've done it. We keep doing
Speaker 2: it though, Okay, as women, I think we keep doing it,
Speaker 2: and then we keep doing it again and we think
Speaker 2: we haven't done it well enough because we don't back ourselves.
Speaker 2: It is not that deep. You are thinking too much
Speaker 2: about yourself in this situation. You've done your research. Nothing
Speaker 2: is going to happen, No money is going to be made,
Speaker 2: no wealth is going to be created. No financial freedom
Speaker 2: is going to be ascertained until you make the first step,
Speaker 2: until you actually invest. Starting is the most critical step.
Speaker 2: You can do all the research in the entire world,
Speaker 2: but if you don't start, it was worth nothing. You
Speaker 2: have wasted your time. And do you know what the
Speaker 2: cool thing about research is you can research once you've started.
Speaker 2: So like you could research, you could make a decision.
Speaker 2: Then you can research some more and change your decision,
Speaker 2: or you could research some more and invest in something
Speaker 2: else and collect things along the way. Not everything has
Speaker 2: to always look the same. The hardest part in investing
Speaker 2: is just starting, and it's usually starting because we are
Speaker 2: doubting ourselves. It's not Oh it's so hard to start
Speaker 2: because I just I don't have all of the forms
Speaker 2: I need to get the app that I want. And
Speaker 2: you know, are the barrier to entry is really high, Becklock,
Speaker 2: I just don't have a million dollars to invest. If
Speaker 2: that was it, I'd understand. I'd be like, Oh, I
Speaker 2: get why you haven't done that? M barrier to entry low.
Speaker 4: Yeah, the reason you.
Speaker 2: Haven't started is because you haven't trusted yourself enough to
Speaker 2: make a decision.
Speaker 4: Trust yourself, maybe, girl.
Speaker 2: Exactly pull your finger out, because once you've done it,
Speaker 2: you no longer on the sidelines. You are a seasoned investor.
Speaker 2: You're in the game and your money is working for you.
Speaker 4: That's crazy. In literally like one nano second, anyone who's
Speaker 4: listening could be seasoned investor.
Speaker 2: And I mean if you are an Australian resident and
Speaker 2: you have been working in Australia, you are already an
Speaker 2: investor because you have superannuation. So if you're not caring
Speaker 2: about that, start caring about that today because all of
Speaker 2: this stuff that I'm saying is actually applicable to your
Speaker 2: super as well.
Speaker 4: Hmmm, oh god, that's scary. We're just pulling our finger out,
Speaker 4: like yeah, well, exactly right. I love you, but we
Speaker 4: need to just do some work now totally to start
Speaker 4: investing now. It doesn't have to consume your world. Just dedicately,
Speaker 4: like an hour, you know, yep, just a little bit,
Speaker 4: just watch some investing tiktoks, like start in a way
Speaker 4: that makes sense for you.
Speaker 2: But at the end of the day, you need to start.
Speaker 2: I'm sorry, exactly, you just need to start.
Speaker 4: Just start. So we've made our first investment, yes, slay,
Speaker 4: what's next? Not slay, not slay.
Speaker 2: We're not saying slay anymore. Honestly, We're going to stay
Speaker 2: in the community. So we're going to stay educating ourselves.
Speaker 2: We are consistently going to be looking into different ways.
Speaker 2: We are going to be engaging in content that makes
Speaker 2: us smarter and makes us richer. We are going to
Speaker 2: be talking about investments with our friends. We are going
Speaker 2: to be learning about diversification and making sure that you know,
Speaker 2: once we have an investment and we have our little
Speaker 2: portfolio going, we are keeping diversification at the forefront of
Speaker 2: what we are thinking about, what we are talking about.
Speaker 2: I've done a whole podcast on this. I have broken
Speaker 2: it down so that you don't have to like I've
Speaker 2: broken it down so that you understand it. But essentially,
Speaker 2: diversification is a strategy that involves spreading all your investments
Speaker 2: across different assets and industries and regions so that if
Speaker 2: one is underperforming, then the other can balance it out.
Speaker 2: Like when I was talking about my two atfs and
Speaker 2: how I have like one in Australia and one internationally.
Speaker 2: The reason I've done that is diversification. You want to
Speaker 2: be in the right place, you want to be you know,
Speaker 2: consuming investing news, reading investing newsletters, making sure that you
Speaker 2: kind of understand the market, because I think that you
Speaker 2: will invest more if you're engaged in it and excited
Speaker 2: about it. The other thing I would say is if
Speaker 2: you've gotten this far and you're like v I am
Speaker 2: ready to do this, but I don't know where to start,
Speaker 2: and I want to do it with you, girlfriend, I
Speaker 2: want you to do it with me too. Literally, investing
Speaker 2: is my favorite topic in the entire world. Ow She's
Speaker 2: on the Money. Investing master class, I would say, is
Speaker 2: literally perfect for you in that I walk you through
Speaker 2: how to diversify your portfolio, why it is important, how
Speaker 2: to do it even as a beginner. Obviously there's an
Speaker 2: investment with that. You do need to pay for my
Speaker 2: investing core, But if you don't want to do that,
Speaker 2: that is absolutely fine. I have so many free resources
Speaker 2: that I've built for you, more than seven hundred podcasts.
Speaker 2: I have five books now beck and you can listen
Speaker 2: to them for free on Spotify.
Speaker 4: Like this is kind of like that.
Speaker 2: I want to take it to the next level, and
Speaker 2: I want to get my stuff together, and I really
Speaker 2: want to be a good investor, and I want to
Speaker 2: do it with UV in twenty twenty five, that's when
Speaker 2: you need to do that.
Speaker 4: Yeah, I just want to.
Speaker 2: Be very clear you can invest without doing my course.
Speaker 2: I think that is so important to just caveat that.
Speaker 2: Not because I don't think you should do it. I
Speaker 2: think you should do it. I know it is worth it,
Speaker 2: but I don't want you thinking, oh, the only way,
Speaker 2: like if you only have ten dollars and you're like, well,
Speaker 2: I can't afford the court, No, babe, you can. But
Speaker 2: also keep your eyes peeled because we will be offering
Speaker 2: scholarships this season for our investing masterclass. So if you're like, oh,
Speaker 2: I would really like a scholarship for that course, I've
Speaker 2: got your back. But the important thing here when it
Speaker 2: comes to investing is that I want you to stay
Speaker 2: consistent with your strategy and really avoid letting short term
Speaker 2: market movements influence your decision. Yes, honestly, all about the
Speaker 2: long game. It's not say it can be scary, but
Speaker 2: just stick with it, babe, Just stick quick and do it.
Speaker 4: Trust the process. And also you don't need to know
Speaker 4: everything before you start, exactly as you're saying, fee, you
Speaker 4: can learn as you go. That's the beauty of.
Speaker 2: It exactly, Beck and investing. Honestly, I know, I get it.
Speaker 2: It is overwhelming at first, but it is about starting small,
Speaker 2: staying consistent, and learning as you go. The earlier you begin,
Speaker 2: the more time that your money has to grow and
Speaker 2: work for you.
Speaker 4: Babe, summary of it. Start now because you'll be richer sooner. Like,
Speaker 4: I don't know how. I can't be clearer than that.
Speaker 4: It's so it's you.
Speaker 2: When I get rich, I will teach you how to
Speaker 2: do that.
Speaker 4: Yeah, just do it, Just do it. And if you're
Speaker 4: ready to take things to next level, our she is
Speaker 4: on the Money Investing Masterclass is literally designed to make
Speaker 4: you feel confident and in control of your financial future.
Speaker 4: If you don't mind, I might think to the waitlist
Speaker 4: for the next intake in the Oh my gosh, yes,
Speaker 4: please do.
Speaker 2: And of course, because I told you this year is
Speaker 2: my year to get you invested, I've got lots more
Speaker 2: investing content coming on the podcast for twenty twenty Thrive
Speaker 2: And as always, please do not forget to follow or
Speaker 2: subscribe so you don't miss a thing and you help
Speaker 2: support our little podcasts.
Speaker 1: No, we'll see you.
Speaker 4: Soon, guys. See you guys on Friday.
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