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

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

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

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

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

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

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

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

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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

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Speaker 4: Hello, and welcome to She's on the Money, the podcast

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Speaker 4: for people who want financial freedom. We're still in the

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Speaker 4: first quarter of twenty twenty four, and if it was

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Speaker 4: your year to start investing and you haven't gone around

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Speaker 4: to thinking about it yet, then that's quite a right.

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Speaker 2: Well, it has to be, because that's the boat you're

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Speaker 2: in right now.

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Speaker 4: Reality. Whatever we're going to get through relatable.

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Speaker 2: That's why we're doing this today.

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Speaker 4: We are going to give you a gentle nudge to

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Speaker 4: help with the first steps, because the first step is

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Speaker 4: often the hardest. Isn't that right?

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Speaker 2: I feel like it is the hardest.

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Speaker 4: That's the hardest.

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Speaker 2: I mean you downloaded investing platform though, yeah, And does

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Speaker 2: it feel as scary now you've downloaded it, You're like, oh,

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Speaker 2: this doesn't feel as intimidating.

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Speaker 4: Yeah, totally. And we did do that episode recently where

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Speaker 4: you kind of broke it down for me, and I'm.

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Speaker 2: Going to do it again because that's exactly what we're

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Speaker 2: talking about today. We're talking about how to create an

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Speaker 2: investment strategy. We've obviously done so many episodes on She's

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Speaker 2: on the Money about investing. So as we go through

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Speaker 2: this episode and if previous topics that I have already

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Speaker 2: covered come up, I'll actually point you to those episodes

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Speaker 2: we've gone through and basically timestamped it. Beckt. The links

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Speaker 2: are also going to be in our show notes for today,

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Speaker 2: so don't worry, you don't have to write them all down.

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Speaker 2: But I'm a bit biased. I think we've got a

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Speaker 2: few good ones, and I've highlighted four that I think

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Speaker 2: everyone needs to listen to for the first time. If

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Speaker 2: you haven't, and if you have listened to these episodes,

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Speaker 2: given one of them from twenty twenty one. Probably time

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Speaker 2: for you to go back and have a re listen, right,

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Speaker 2: So from the tenth of March twenty twenty one, listen

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Speaker 2: at your own risk profile.

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Speaker 4: Cord DO one. That's a good one.

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Speaker 2: I do think I'm kind of funny though.

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Speaker 4: That's pretty funny.

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Speaker 2: I think that's a good one to talk about because

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Speaker 2: we're going to be talking about risk profiles a little

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Speaker 2: bit later on h We've got the fourth of May

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Speaker 2: twenty twenty two. Different kinds of investing platforms. So this

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Speaker 2: episode I really break down what types of platforms are

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Speaker 2: out there, why you might use one over the other,

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Speaker 2: and what they look like, because I feel like so

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Speaker 2: many times people get analysis paralysis over what type of

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Speaker 2: investing platform they should choose, and they might go, oh, Beck,

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Speaker 2: what did you choose? And you go shares these and

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Speaker 2: they go, oh my gosh, like my friend uses that,

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Speaker 2: but then my other friend uses this other platform, Like

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Speaker 2: what's the best? The best thing is working it out

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Speaker 2: for yourself. From the first of March twenty twenty three,

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Speaker 2: so this is like going back nearly twelve months, we

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Speaker 2: did an episode back to Basics of Investing, which I

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Speaker 2: think is a good one for everybody to listen to.

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Speaker 2: Won't explain that one because it's actually pretty self explanatory

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Speaker 2: what we actually go through in that episode. And then

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Speaker 2: from the fifth of April twenty twenty three, we did

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Speaker 2: an episode called Investing on a Low Income and that

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Speaker 2: one I have slid in there because I think it's

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Speaker 2: really important to I guess preface that you don't need

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Speaker 2: to have a lot of money to start your investing journey.

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Speaker 2: In fact, there are investing platforms now let you invest

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Speaker 2: with as little as one cent. Love it, and I

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Speaker 2: don't think investing can get more accessible than that, especially

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Speaker 2: so right now I'm talking about Chares's as a platform,

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Speaker 2: not a paid mention. Obviously I work with them. I

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Speaker 2: just like talking about them. But if you use the

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Speaker 2: code SotM Beck get free ten dollars that is, so

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Speaker 2: that's money, and then you can invest with as little

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Speaker 2: as one cent, you could buy so many shares and

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Speaker 2: have a double and it didn't even cost you a thing.

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Speaker 4: I love it.

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Speaker 2: Money win.

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Speaker 4: I did notice you dropped the pun after your first

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Speaker 4: investing episode, which I appreciate. I hope that this episode

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Speaker 4: goes out with.

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Speaker 2: The pun just got really boring.

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Speaker 4: Yeah, that's okay. She got boring.

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Speaker 2: Do you want to know why?

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Speaker 1: Why?

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Speaker 2: I need to also make these episodes findable for the

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Speaker 2: people that are that. Like so many times I'd be

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Speaker 2: like sitting down really trying to think about, like how

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Speaker 2: to paraphrase another one of Beyonce's songs to make it

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Speaker 2: fit into my title, And I was like, yeah, I

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Speaker 2: guess it's like important. But if you want to look

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Speaker 2: at that punny one, listen to your risk profile works

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Speaker 2: because you might type in risk profile She's on the money,

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Speaker 2: because that's what you want to learn. But if I've

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Speaker 2: gone too rogue, you're not going to find the content.

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Speaker 2: I went a little bit more basic. I promised I

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Speaker 2: didn't lose my spark. I actually just thought it might

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Speaker 2: be more helpful for listeners totally.

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Speaker 4: All if you're looking for a Beyonce song, you might

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Speaker 4: stumble across this and it will change your life. But anyway,

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Speaker 4: exactly after the break, we are going to give you

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Speaker 4: six steps to take to create your investment strategy. But

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Speaker 4: first let's talk mindset, because that really is often the

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Speaker 4: biggest hurdle.

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Speaker 2: Yeah, and like you've probably heard me talk about it before.

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Speaker 2: Before I was a financial advisor. I worked in psychology.

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Speaker 2: I have two psychology degrees. When I got out of school,

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Speaker 2: I didn't want to not go to university, started something

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Speaker 2: that I obviously ended up not loving as much but

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Speaker 2: now adore because at the end of the day, to me,

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Speaker 2: money is inherently emotional. It is inherently about your psychology

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Speaker 2: and not actually that much about maths. Right Like, at

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Speaker 2: the end of the day, it's your thoughts, your feelings,

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Speaker 2: your beliefs, and your behaviors around money. It's actually not

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Speaker 2: got a lot to do with how well you can

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Speaker 2: add up the numbers or how hard you work, because

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Speaker 2: some of the hardest workers we know back free to

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Speaker 2: array all of their money. And then some people that

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Speaker 2: we know on really low incomes are the best investors

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Speaker 2: that I've ever met. Right, So, especially got not a

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Speaker 2: lot to do with your finance literacy when it comes

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Speaker 2: to the numbers, but more around your literacy when it

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Speaker 2: comes to understanding you and why and when and where

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Speaker 2: and how. So I would say mindset is truly the

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Speaker 2: cornerstone when it comes to creating an investment strategy, and

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Speaker 2: it's often the biggest hurdle for us to face because

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Speaker 2: it's hard. The challenge lies in the psychological barriers that

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Speaker 2: we actually build around money, whether we know we're doing

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Speaker 2: it or not. So fear of the unknown, the anxiety

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Speaker 2: of potential losses, and the overwhelming feeling that investing is

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Speaker 2: reserved for the financially elite. Beck. We've grown up in

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Speaker 2: a culture that doesn't always encourage open conversations about money,

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Speaker 2: and as a result, many of us approach investing with

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Speaker 2: a sense of trepidation. Additionally, the fear of making the

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Speaker 2: wrong choice can be absolutely paralyzing. However, it's crucial to

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Speaker 2: reframe our mindset and vie investing as a tool for

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Speaker 2: financial empowerment and long term growth. Beck. If we're addressing

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Speaker 2: these mental roadblocks, we can actually open ourselves up to

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Speaker 2: a world of investment possibilities as lay that sounds, and

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Speaker 2: we can take really confident strides towards our financial goals.

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Speaker 2: And at the end of the day, I think every

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Speaker 2: single person in our community and even sitting at this table,

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Speaker 2: is going to be like, yeah, well that's kind of

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Speaker 2: what I want. Like, I do want to be confident

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Speaker 2: with money. I do want to be like empowered for

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Speaker 2: the future and have long term growth and you know,

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Speaker 2: not be absolutely screwed. When it comes to money in

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Speaker 2: my older age, right, like, that's inherently what we want.

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Speaker 2: But remember, it's not actually about where you start. It's

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Speaker 2: about taking the first step with intention and purpose because

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Speaker 2: we're all going to start at different places. You are

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Speaker 2: starting at a different place than I am. And if

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Speaker 2: you start comparing yourself to me, where do we get,

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Speaker 2: You're then comparing yourself to an ex financial advisor. And

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Speaker 2: obviously I would love to think that I've got it

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Speaker 2: pretty sorted out, Beck, whereas you've not done that. And

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Speaker 2: that's okay, But we need to kind of put our

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Speaker 2: blinkers on, as I say all the time, and just

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Speaker 2: look at our journey and our pathway and celebrate our successes.

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Speaker 4: Well, that is powerful. Would be a motivational speaker, Oh,

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Speaker 4: I try on, very good last, Ye've.

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Speaker 2: Got it, I've got I actually want to talk about

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Speaker 2: financial literacy, not just motivating people.

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Speaker 4: Well, you're doing very very good both.

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Speaker 2: I'm glad you're feeling motivated.

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Speaker 4: Okay, So V, I'm going to make some statements and

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Speaker 4: I'd love you to respond to them. Is that okay?

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Speaker 4: Of course a game, It's a game. Okay, So how

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Speaker 4: about this one? I'm too broke to invest, Laz.

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Speaker 2: It's a very common misconception that you need a super

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Speaker 2: substantial amount of money to start investing. As I said, before,

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Speaker 2: investing was often seen as reserved for the financially elite,

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Speaker 2: and that's a joke. Absolutely, it is not. It's all

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Speaker 2: fair in love and war. Nowadays totally anyone can get

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Speaker 2: in on it. You don't need to be rolling in

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Speaker 2: cash to start your investment journey. The beauty of investing

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Speaker 2: is that it's adaptable to various financial situations, even if

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Speaker 2: you feel like your budget is really tight. They are

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Speaker 2: actually ways to start small. With as little as literally

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Speaker 2: one cent, you can make your initial move in the

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Speaker 2: investing game. Platforms like micro investing platforms make it also

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Speaker 2: really easy to dip your toes into the market without

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Speaker 2: breaking your bank, but also without doing too much analysis paralysis.

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Speaker 2: Often micro investing platforms and the two that are most

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Speaker 2: common in our community or most popular, Spaceship and Raise.

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Speaker 2: Both of those are different platforms. Go and listen to

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Speaker 2: that episode on different kinds of investing Platforms from the

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Speaker 2: fourth of May twenty twenty two, and I talk about

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Speaker 2: those in detail. But it's honestly not about the size

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Speaker 2: of your initial investment. I know that you might want

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Speaker 2: to go like, if I start, I really want to

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Speaker 2: start strong, totally like, I totally get that. But the

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Speaker 2: longer you put it off, the less strong your position

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Speaker 2: is to start. Like I would say, a stronger position

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Speaker 2: is starting today with five dollars and going I'm going

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Speaker 2: to save my first five hundred and then make a move.

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Speaker 4: True, while you're saving, you could be.

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Speaker 2: Exactly growing and growing out and giving yourself a financial

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Speaker 2: education on investing, right like, you could be learning over

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Speaker 2: this entire time. It's about cultivating a habit to me

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Speaker 2: of consistently investing over time instead of going, i'll investment.

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Speaker 2: I have more money and it's so easy to put

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Speaker 2: it off by saying that, right, So, regardless of your

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Speaker 2: current financial status, there's honestly always room to kick start

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Speaker 2: your investment journey and work towards your financial goals.

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Speaker 4: I love that. That's so true.

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Speaker 2: So deciphered. Are you too broke to invest?

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Speaker 3: No?

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Speaker 2: Okay, never, you didn't sound so confident. Maybe we need

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Speaker 2: thinking of to keep this podcast going there?

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Speaker 4: Yeah, that's true. Okay, how about this one? Yep, I

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Speaker 4: don't have time to invest?

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Speaker 2: All right?

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Speaker 4: What are you so busy is well, I'm thinking and

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Speaker 4: this could be wrong, and it's something you have said

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Speaker 4: in the past, but you know, a lot of people

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Speaker 4: think that you have to play the market and react

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Speaker 4: quickly if you're investments are doing well, and so I

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Speaker 4: feel like it's kind of time consuming to be watching

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Speaker 4: and waiting and predicting and thinking and all that.

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Speaker 2: I mean, I'm not making you become a day trader

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Speaker 2: back right. Successfully investing does not demand a significant time commitment,

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Speaker 2: and as I said before, you don't need to be

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Speaker 2: playing the market like day trader. In fact, research tells

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Speaker 2: us that you're more likely to lose the most money

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Speaker 2: doing that when it comes to investment strategy. That is

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Speaker 2: the investment strategy that is going to shoot you in

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Speaker 2: the foot the quickest. So developing a thoughtful and well

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Speaker 2: structured investment plan, I would say's key, And it does

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Speaker 2: require some time, like you're going to have to invest upfront.

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Speaker 2: By setting clear goals and really choosing investments that are

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Speaker 2: aligned to these goals and objectives you have, you can

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Speaker 2: actually minimize the need for consistent oversight. A couple of

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Speaker 2: weeks ago back, you and I were talking about the

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Speaker 2: difference between an ETF and a direct share, and I

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Speaker 2: was like, well, how much involvement do you want? You're

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Speaker 2: like I would really like to buy an exchange traded fund.

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Speaker 2: They want somebody else to kind of do the overseeing,

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Speaker 2: Like I don't want to be in and out of

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Speaker 2: the market all the time, Like I don't know how

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Speaker 2: to make those decisions. But that's why different asset classes

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Speaker 2: exist for different people. So long term investing, it often

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Speaker 2: involves a strategy called buy and hold. So that's where

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Speaker 2: you invest with the expectation that your investment assets are

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Speaker 2: going to increase in value over time, gonna be a

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Speaker 2: day trader. I feel like the movie The Wolf of

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Speaker 2: Wall Street and similar movies like The Big Short has

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Speaker 2: made it look like you have to be consistently.

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Speaker 4: In it to win it, and like hey, they've really

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Speaker 4: glamorized it.

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Speaker 2: Yeah, but also made it look so confusing. Yes, that

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Speaker 2: is exactly how mediocare middle aged white investment bankers want

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Speaker 2: you to see it. Sure, Like that's how they want

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Speaker 2: to get so hard, like, oh, you couldn't do this yourself.

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Speaker 2: You're just a little girl, Yes, just a little girl.

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Speaker 4: What would you know?

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Speaker 2: I'm seeing some patterns sound here we are little girls

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Speaker 2: who know everything. Yeah, slay, sit down, Barry. So, while

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Speaker 2: it is essential to periodically review your portfolio, don't get

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Speaker 2: me wrong, knee jerk reactions to short term fluctuations, I

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Speaker 2: would say, are things that we need to discourage. Like

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Speaker 2: if you see your portfolio go slightly down, we don't

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Speaker 2: want to just sell out because it looks scary. We

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Speaker 2: need to zoom out. And how many times have I

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Speaker 2: said when in doubt, zoom out, look at the bigger picture.

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Speaker 2: There will be a reason for that beck. So by

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Speaker 2: adopting I would say, a discipline and patient approach, you're

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Speaker 2: able to balance it's your investment strategy with the demands

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Speaker 2: of your busy schedule, which is often drinking sparkling water

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Speaker 2: at the pub. Yes, which is honestly really important.

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Speaker 4: It's very important.

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Speaker 2: But that's why we want to choose an investment strategy

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Speaker 2: that works for your lifestyle.

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Speaker 5: Right.

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Speaker 2: Doesn't want to be a day trader tick. Remember, it's

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Speaker 2: actually about creating a plan that aligns to your life back,

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Speaker 2: not tethering you to I guess the fast paced world

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Speaker 2: of day trading, which kind of looks sexy and it's

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Speaker 2: actually a bit of a joke. Like, I'm not saying

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Speaker 2: that day traders are jokes. You need to like back

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Speaker 2: out of that a little bit because some people might

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Speaker 2: come for me and that's fine, but it's not the

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Speaker 2: normal way to invest for long term gains. It carries

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Speaker 2: so much risk that that's why I kind of go, Well,

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Speaker 2: if you're listening to this episode about how to create

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Speaker 2: your investment strategy, I can almost guarantee that day trading

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Speaker 2: is completely off the table because you don't have the

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Speaker 2: experience yet to even consider what day trading might look like.

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Speaker 2: So I guess you invest for the long term. Again,

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Speaker 2: If in doubt, what are you going to do?

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Speaker 4: Zoom out by Okay, what about this one?

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Speaker 2: I'm ready.

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Speaker 4: I'm afraid to lose money.

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Speaker 2: I get it. I don't want to lose my money either.

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Speaker 4: Yeah, do you really think that I.

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Speaker 2: Want to lose all my money? I'm the most conservative

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Speaker 2: girl you've ever met.

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Speaker 4: Like, everything's in cash, not cash.

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Speaker 2: I'm an investor, but I think the fear of losing

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Speaker 2: money is such a common concern. But it's super critical

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Speaker 2: that you understand that investing is not a guaranteed pathway

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Speaker 2: to losing all your money. It's not gambling and I

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Speaker 2: think that if you don't have a good level of

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Speaker 2: financial literacy to understand that, you assume it's gambling, and

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Speaker 2: it might be written into your money story that you

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Speaker 2: think it's gambling because your parents or your guardians or

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Speaker 2: people around you growing up had that mentality and go, oh,

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Speaker 2: that's too risky, Beck, don't do that. You go, no, worries, no,

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Speaker 2: never going to talk about it again. But like you

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Speaker 2: just assume that's actually true, when in fact, historically the

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Speaker 2: share market has shown a tendency to trend upwards over

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Speaker 2: the long term. And if we look at the Australian

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Speaker 2: share market, if you take any period that the ASEX

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Speaker 2: has existed and you go, all right, I'm going to

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Speaker 2: take this thirty year chunk or that thirty year chunk, Nobody,

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Speaker 2: if they've been invested for more than thirty years on

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Speaker 2: the ASEX, has ever lost money. Beck, that's pretty that's

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Speaker 2: pretty be powerful. So if you're particularly risk averse, I

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Speaker 2: get it. You can obviously opt for a more conservative

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Speaker 2: portfolio that includes assets that have lower volatility. So then diversification.

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Speaker 2: We've talked about spreading your investments across different asset classes.

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Speaker 2: So as you said before, are you all in cash.

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Speaker 2: Would Beck twelve months ago have said something like that,

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Speaker 2: I really don't think you would have true.

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Speaker 4: Like, oh if you got all in cash, like, how

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Speaker 4: would have known? Who is she? Who is she?

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Speaker 2: She's a blowed up woman. But I think it's really

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Speaker 2: important to go all right, well, I've diversified, I do

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Speaker 2: have some cash, I do have some shares. You know,

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Speaker 2: you might have a bond. It's all going to depend

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Speaker 2: on what your portfolio tolerance is. And so I think

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Speaker 2: it's really important to you know, remember that. And obviously,

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Speaker 2: the more diversified you are, the more you can increase

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Speaker 2: the likelihood of achieving positive returns over time. I also

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Speaker 2: want you to remember, before I move on from this

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Speaker 2: part of the conversation, that avoiding investing altogether it doesn't

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Speaker 2: stop you from, I guess, being exposed to financial risks.

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Speaker 2: So you do actually need to take an informed approach

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Speaker 2: that can lead to wealth accumulation and financial growth. Because

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Speaker 2: if you leave your money in cash right now, Beck

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Speaker 2: I wrote about this in the Age the other week,

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Speaker 2: the average savings account is returning anywhere between three and

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Speaker 2: a half and six percent, but our rate of inflation

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Speaker 2: right now is still sitting above seven percent. So if

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Speaker 2: you look at those two numbers, inflation is eating away

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Speaker 2: at your cash and even if you are making some

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Speaker 2: money in your savings account, over the long term, you're

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Speaker 2: going backwards, right, terrifying.

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Speaker 4: Yeah, that is actually very very scary.

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Speaker 2: It's not good.

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Speaker 4: Yeah, not good. How about this one?

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Speaker 2: Oh you've got more? I do have a how many more?

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Speaker 4: Well, look, I'm going to do two.

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Speaker 2: Too, Okay?

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Speaker 4: Is that okay with you?

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Speaker 2: So fine? Because I feel like this is just an

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Speaker 2: ongoing argument. You're like, here's a statement, and I'm like, yes, sit.

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Speaker 4: Down, what about this. I don't know why I'm trying

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Speaker 4: to prove you wrong so badly, but here we go.

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Speaker 2: I like that, that's the strategy you've taken this way.

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Speaker 4: Okay. So what if I say it's too late, I've

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Speaker 4: already missed the boat on investing, I'll get the jet's case.

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Speaker 1: So good.

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Speaker 2: I always want to be right at the end of

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Speaker 2: the day. The best time to invest was thirty years ago.

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Speaker 2: The second best time to invest is today. It is

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Speaker 2: never ever, ever too late to start your investing journey.

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Speaker 2: You can feel behind like I totally get that, and

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Speaker 2: we probably should acknowledge that because if I'm talking about

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Speaker 2: my portfolio. You'd be like, well, you've had such good gains,

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Speaker 2: I'm not going to get those ones. No, You're not

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Speaker 2: get the next ones that I'm going to be in on.

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Speaker 1: Then.

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Speaker 2: Yeah, kind of like going surfing and you arrive at

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Speaker 2: the beach and your friends are talking about these sick

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Speaker 2: waves that they've caught, and you're like, oh, okay, well

385
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Speaker 2: maybe I'll go home because I'm not going to catch

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Speaker 2: those waves. There's more waves, aren't they back? Totally exactly.

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Speaker 2: I don't surf, but that was I feel like a

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Speaker 2: good analogy, good analogy for a non so thank you

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Speaker 2: is that obvious. I feel like the notion that you've

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Speaker 2: missed the boat is just one of the biggest misconceptions

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Speaker 2: in investing. In reality, the investment landscape, it's really dynamic.

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Speaker 2: It's always changing, and the opportunities ahead still exists regardless

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Speaker 2: of where on that journey you have personally started. So

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Speaker 2: time in the market is very much more important than

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Speaker 2: timing the market. How many times have I said, verbatim,

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Speaker 2: I'd be a really rich woman if I could turn

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Speaker 2: the market back at least a billion, a billion times

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Speaker 2: billion times. Ye, I'd make so much money. If people

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Speaker 2: get me a dollar every time I said that, that

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Speaker 2: would be a good investment if anyone wants to dm

401
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Speaker 2: me ish. But historically, trends have shown that consistent long

402
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Speaker 2: term investing can yield very good results, whether you're in

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Speaker 2: your twenties or your thirties, or you're listening to this

404
00:18:52,000 --> 00:18:54,320
Speaker 2: podcast and you're like, yeah, I've never invested and I'm

405
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Speaker 2: in my sixties. Great, let's start. Let's go. I'm ready,

406
00:18:58,080 --> 00:19:02,320
Speaker 2: you're ready. There are strategies to actually tailor your investments

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Speaker 2: to your unique goals and the time horizon that you have,

408
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Speaker 2: and the key is to actually just start as soon

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Speaker 2: as possible. No such thing as missing out. We're getting

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Speaker 2: on the train today. There's always another one coming, so

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Speaker 2: stay committed to your plan and then let the power

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Speaker 2: of compounding work in your favor. So I guess we

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Speaker 2: need to just throw out the idea that you've missed

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Speaker 2: out because your financial journey beck it can still set surf.

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Speaker 2: I don't know catch away. I was trying to think

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Speaker 2: about something that would make it ocean inspired, but there

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Speaker 2: are plenty of ports along the way.

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Speaker 4: Ah, you did manage it right.

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Speaker 2: It's a bit of a SA reference.

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Speaker 4: Right, Jo. I think that also applies to literally everything.

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Speaker 4: If you feel like it's too late to start doing something,

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Speaker 4: it's like, best time start was twenty years ago. Second,

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Speaker 4: best time is literally right now?

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Speaker 2: Yeah, get it, queen.

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Speaker 4: So last one, what if I say I don't know

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Speaker 4: where to start?

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Speaker 2: It's a good question after I say that the best

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Speaker 2: time to start is now?

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Speaker 4: Haha. Yeah.

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Speaker 2: So I was not actually born with an understanding of

431
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Speaker 2: the shermket crazy right.

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Speaker 4: It didn't come out of the womb.

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Speaker 2: No, my dad's an accountant. I was born on the

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Speaker 2: thirtieth of June. So you might assume that I did

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Speaker 2: just walk out of the womb with a calculator in

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Speaker 2: my hand.

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00:20:08,080 --> 00:20:10,080
Speaker 4: All the world's are up, but I didn't. That's that

438
00:20:10,119 --> 00:20:10,760
Speaker 4: from So.

439
00:20:10,840 --> 00:20:13,680
Speaker 2: I think it's completely normal to feel unsure because when

440
00:20:13,720 --> 00:20:16,879
Speaker 2: I started studying this, this was all consuming and overwhelming

441
00:20:17,040 --> 00:20:18,639
Speaker 2: for me. And now I'm like, oh, this is like

442
00:20:18,680 --> 00:20:22,320
Speaker 2: a second language. I have learnt the language. You have not, Beck,

443
00:20:22,760 --> 00:20:25,160
Speaker 2: So how do I expect you to speak it if

444
00:20:25,160 --> 00:20:28,080
Speaker 2: you haven't started at the basics and at the fundamentals.

445
00:20:28,520 --> 00:20:30,800
Speaker 2: If you don't know where to start, that is actually

446
00:20:30,920 --> 00:20:33,399
Speaker 2: more normal than knowing where to start. Because if you

447
00:20:33,400 --> 00:20:34,639
Speaker 2: do know where to start, what the hell why are

448
00:20:34,680 --> 00:20:37,760
Speaker 2: you listening to this podcast like you might've already started

449
00:20:37,760 --> 00:20:39,520
Speaker 2: and you just really like our podcast in which guesse,

450
00:20:39,600 --> 00:20:42,800
Speaker 2: thank you, please stay, we love you. But you're not

451
00:20:43,359 --> 00:20:46,800
Speaker 2: alone in that sentiment. The investment world, as I said,

452
00:20:47,080 --> 00:20:50,359
Speaker 2: can be really overwhelming with its array of options and

453
00:20:50,440 --> 00:20:52,760
Speaker 2: jargon and mediocm middle aged white men trying to make

454
00:20:52,800 --> 00:20:55,199
Speaker 2: you think that this is more complicated than it is

455
00:20:55,200 --> 00:20:58,800
Speaker 2: to justify their jobs. Cute from them. But the good

456
00:20:58,840 --> 00:21:02,399
Speaker 2: news is that there are resources and support available to

457
00:21:02,400 --> 00:21:05,080
Speaker 2: guide you through this process. Have you heard of this podcast?

458
00:21:05,160 --> 00:21:05,280
Speaker 1: Right?

459
00:21:05,280 --> 00:21:07,400
Speaker 2: It's called She's on the Money? So ring a bell?

460
00:21:07,600 --> 00:21:08,440
Speaker 4: Heard of it?

461
00:21:08,760 --> 00:21:13,240
Speaker 2: Yeah? So I would begin with their content, begin by

462
00:21:13,440 --> 00:21:15,720
Speaker 2: educating yourself. You don't need to jump into a platform,

463
00:21:15,800 --> 00:21:17,680
Speaker 2: you don't need to jump into putting your money where

464
00:21:17,680 --> 00:21:22,119
Speaker 2: your mouth is, but understand what platforms exist. Understand that

465
00:21:22,200 --> 00:21:26,440
Speaker 2: there are heaps of podcasts and articles, including obviously our

466
00:21:26,480 --> 00:21:30,240
Speaker 2: episode back to Basics, which we mentioned before that break

467
00:21:30,280 --> 00:21:34,200
Speaker 2: down the essentials. Take small steps and consider using micro

468
00:21:34,280 --> 00:21:36,680
Speaker 2: investing platforms as like a little way to dip your

469
00:21:36,680 --> 00:21:39,919
Speaker 2: toes into the water and get a hands on understanding

470
00:21:39,920 --> 00:21:43,679
Speaker 2: and education that isn't going to cost you much in

471
00:21:43,760 --> 00:21:47,560
Speaker 2: what investment actually looks like. I would also recommend if

472
00:21:47,560 --> 00:21:50,639
Speaker 2: you really want to to see a financial professional, So

473
00:21:50,640 --> 00:21:53,800
Speaker 2: whether that's a financial advisor or a mortgage broker, or

474
00:21:53,840 --> 00:21:56,159
Speaker 2: even if you're just joining an online community like ow

475
00:21:56,200 --> 00:21:59,639
Speaker 2: She's on the Money community, it can provide really valuable insights.

476
00:22:00,080 --> 00:22:02,119
Speaker 2: But the important thing is what I've been harping on

477
00:22:02,200 --> 00:22:05,640
Speaker 2: about all this episode back, and that is everyone starts somewhere,

478
00:22:05,640 --> 00:22:08,800
Speaker 2: and the most important thing is to actually initiate that

479
00:22:08,960 --> 00:22:12,840
Speaker 2: learning process. So don't let uncertainty hold you back, because

480
00:22:12,880 --> 00:22:16,000
Speaker 2: the path towards investing clarity actually begins with you taking

481
00:22:16,040 --> 00:22:18,239
Speaker 2: a step and going, what does this look like like?

482
00:22:18,240 --> 00:22:20,399
Speaker 2: If you're always staring at the gate and it's shut like,

483
00:22:20,440 --> 00:22:21,840
Speaker 2: it's not going to make sense. You're not all of

484
00:22:21,880 --> 00:22:23,840
Speaker 2: a sudden going to be like, finally I can open

485
00:22:23,840 --> 00:22:26,080
Speaker 2: the gate and see what's beyond, Like you actually just

486
00:22:26,080 --> 00:22:28,040
Speaker 2: have to open the damn Gatebeck totally.

487
00:22:28,160 --> 00:22:31,399
Speaker 4: We need to fight through that analysis paralysis exactly. I

488
00:22:31,400 --> 00:22:32,920
Speaker 4: think this is a great time to go to a

489
00:22:32,960 --> 00:22:35,679
Speaker 4: really quick break. Need a nap, Great, let's do it

490
00:22:35,920 --> 00:22:37,359
Speaker 4: and we'll see you guys on the flip side.

491
00:22:37,480 --> 00:22:41,960
Speaker 2: I'm ready.

492
00:22:42,840 --> 00:22:45,359
Speaker 4: Welcome back everyone. So we are talking about how to

493
00:22:45,440 --> 00:22:48,400
Speaker 4: create your investment strategy. I feel like it's high time

494
00:22:48,480 --> 00:22:52,000
Speaker 4: we get to the You're like, give me an investment strategy.

495
00:22:52,040 --> 00:22:53,520
Speaker 4: I mean I'm ready. I don't know if you're ready

496
00:22:53,560 --> 00:22:56,800
Speaker 4: to feel emotionally and physically ready. I mean physically no,

497
00:22:57,200 --> 00:23:01,359
Speaker 4: I have a very short breath. But I feel like

498
00:23:01,440 --> 00:23:03,679
Speaker 4: investment strategy is one of my favorite things to build.

499
00:23:03,880 --> 00:23:05,640
Speaker 4: And obviously I can't sit down with each and every

500
00:23:05,640 --> 00:23:07,440
Speaker 4: single one of you to build you your own.

501
00:23:07,600 --> 00:23:10,560
Speaker 2: I wish I could. Maybe one day there's an app maybe,

502
00:23:11,240 --> 00:23:13,440
Speaker 2: although I did look into it. Apps are very expensive.

503
00:23:14,240 --> 00:23:16,639
Speaker 4: Oh yeah, okay, so till then about that.

504
00:23:16,600 --> 00:23:19,280
Speaker 2: You get that podcast. So I would like to teach

505
00:23:19,320 --> 00:23:24,119
Speaker 2: you how to create an investment strategy. So, creating an

506
00:23:24,119 --> 00:23:27,520
Speaker 2: investment strategy, it involves a lot of thoughtful steps, right,

507
00:23:27,560 --> 00:23:30,000
Speaker 2: So you've got to know what you want before you

508
00:23:30,160 --> 00:23:33,840
Speaker 2: come to writing down an investment strategy. It involves a

509
00:23:33,880 --> 00:23:37,239
Speaker 2: whole heap of process to align your financial goals with

510
00:23:37,320 --> 00:23:40,280
Speaker 2: your risk tolerance and your time horizon. So if I

511
00:23:40,480 --> 00:23:43,679
Speaker 2: say risk tolerance and you go they no idea what

512
00:23:43,760 --> 00:23:46,320
Speaker 2: that is? You're going to go back to the tenth

513
00:23:46,320 --> 00:23:49,199
Speaker 2: of March twenty twenty one and listen to the episode

514
00:23:49,600 --> 00:23:52,840
Speaker 2: Listen at your own Risk Profile, because that is going

515
00:23:52,880 --> 00:23:56,840
Speaker 2: to tell you exactly what a risk profile is. It

516
00:23:56,880 --> 00:23:59,240
Speaker 2: takes you through all the steps of understanding what your

517
00:23:59,320 --> 00:24:02,080
Speaker 2: risk profile can be. And there are so many online

518
00:24:02,080 --> 00:24:03,920
Speaker 2: that you can download and do, so you're going to

519
00:24:03,960 --> 00:24:07,320
Speaker 2: go do that. I have listed out a step by

520
00:24:07,320 --> 00:24:12,080
Speaker 2: step guide below. Keep listening to hopefully help you kickstart

521
00:24:12,080 --> 00:24:15,879
Speaker 2: your investment journey, which I already low keyno is helpful. So

522
00:24:16,000 --> 00:24:18,040
Speaker 2: let's go in. So first things first, I want you

523
00:24:18,080 --> 00:24:21,040
Speaker 2: to conduct a really thorough review of your budget. We're

524
00:24:21,080 --> 00:24:23,199
Speaker 2: going to look at your debts, your asset, your income,

525
00:24:23,240 --> 00:24:26,480
Speaker 2: and your expenses. That's not very sexy, I know, but

526
00:24:26,560 --> 00:24:29,280
Speaker 2: this is going to provide you a clear understanding of

527
00:24:29,280 --> 00:24:32,000
Speaker 2: your financial position and where you're currently sitting. And we

528
00:24:32,160 --> 00:24:34,920
Speaker 2: need to know that if you're going to start investing,

529
00:24:35,119 --> 00:24:38,200
Speaker 2: because how on earth, Beck are we creating a plan

530
00:24:38,280 --> 00:24:40,080
Speaker 2: to get to somewhere else if you don't know where

531
00:24:40,119 --> 00:24:41,000
Speaker 2: you're starting from.

532
00:24:41,359 --> 00:24:41,920
Speaker 4: Very good call.

533
00:24:42,560 --> 00:24:46,280
Speaker 2: It's daunting, Yes, it's overwhelming, Yes nobody really wants to

534
00:24:46,280 --> 00:24:48,360
Speaker 2: do it, but we're approaching this with no judgment. We're

535
00:24:48,359 --> 00:24:50,000
Speaker 2: just going to look at it as what's going in

536
00:24:50,080 --> 00:24:53,160
Speaker 2: and what's coming out of your bank account. It's going

537
00:24:53,200 --> 00:24:55,359
Speaker 2: to tell you where your start line is and ultimately

538
00:24:55,440 --> 00:24:58,840
Speaker 2: help you get as far ahead as possible. So you

539
00:24:58,880 --> 00:25:01,240
Speaker 2: need to do it even if you think it's the

540
00:25:01,280 --> 00:25:02,280
Speaker 2: most boring thing in the world.

541
00:25:02,400 --> 00:25:03,040
Speaker 1: Mm hmm. I know.

542
00:25:03,119 --> 00:25:04,240
Speaker 2: I back that it's boring.

543
00:25:04,520 --> 00:25:05,080
Speaker 4: I get it.

544
00:25:05,119 --> 00:25:08,000
Speaker 2: But sometimes we have to do these things called hygiene factors,

545
00:25:08,320 --> 00:25:10,040
Speaker 2: and that's those things you just have to do to

546
00:25:10,080 --> 00:25:12,360
Speaker 2: tick a box and go, you know what I did it.

547
00:25:12,520 --> 00:25:14,400
Speaker 2: If it makes it easier, go get a nice cup

548
00:25:14,440 --> 00:25:17,240
Speaker 2: of tea, a soda, water, a little cheeky wine. I

549
00:25:17,280 --> 00:25:21,240
Speaker 2: don't actually care. Yeah, Cornetto, you've leveled this up.

550
00:25:21,880 --> 00:25:24,320
Speaker 4: Yeah, I don't know what made me think cornetto and

551
00:25:24,359 --> 00:25:27,360
Speaker 4: tax or sorry. So your telebody is hand in hand.

552
00:25:27,280 --> 00:25:29,640
Speaker 2: That if I got you a Cornetto, you do your budget.

553
00:25:30,000 --> 00:25:30,439
Speaker 4: I think so.

554
00:25:30,960 --> 00:25:32,560
Speaker 2: Buffer calls after this sit down.

555
00:25:32,440 --> 00:25:32,960
Speaker 4: Ha haha.

556
00:25:33,119 --> 00:25:35,359
Speaker 2: Just wait here. The next thing we're going to do

557
00:25:35,520 --> 00:25:39,000
Speaker 2: is set concrete financial goals. So I want you to

558
00:25:39,040 --> 00:25:43,280
Speaker 2: divide them into short, medium, and the long term objectives.

559
00:25:43,680 --> 00:25:45,560
Speaker 2: I round about this all the time because this is

560
00:25:45,560 --> 00:25:49,359
Speaker 2: actually how I've broken up my money masterclass because to me,

561
00:25:49,560 --> 00:25:52,160
Speaker 2: it is the best way to manage financial goals because

562
00:25:52,160 --> 00:25:55,280
Speaker 2: we need to understand what needs to happen asap, like

563
00:25:55,280 --> 00:25:57,760
Speaker 2: in the next two years, but also what does like

564
00:25:58,040 --> 00:26:01,000
Speaker 2: ten years fifteen years look like, because we can't have

565
00:26:01,080 --> 00:26:03,520
Speaker 2: one without the other, because more often than not, if

566
00:26:03,520 --> 00:26:05,879
Speaker 2: we set a ten year goal, but we also have

567
00:26:05,920 --> 00:26:08,480
Speaker 2: a big two year goal, that big two year goal,

568
00:26:08,520 --> 00:26:11,639
Speaker 2: if it's prioritized over the ten year goal, compromises the

569
00:26:11,680 --> 00:26:14,320
Speaker 2: ten year goal, and then things just get blown out

570
00:26:14,440 --> 00:26:17,159
Speaker 2: and things don't happen, and then you look back and go, oh,

571
00:26:17,200 --> 00:26:19,480
Speaker 2: my god, what happened? Like I didn't actually get to

572
00:26:19,520 --> 00:26:23,320
Speaker 2: achieve any of the goals I set, And that's obviously disheartening,

573
00:26:23,440 --> 00:26:25,080
Speaker 2: and that's not what we want. We want to make

574
00:26:25,119 --> 00:26:27,480
Speaker 2: sure that we go, oh, we've taken everything into consideration.

575
00:26:27,640 --> 00:26:29,200
Speaker 2: You might actually have a long term goal that you'd

576
00:26:29,240 --> 00:26:31,040
Speaker 2: completely sheltered. You're like, I have no money for that

577
00:26:31,119 --> 00:26:33,880
Speaker 2: right now, still a goal, but you know why you've

578
00:26:33,880 --> 00:26:36,359
Speaker 2: put it to the side, right like, we know what

579
00:26:36,480 --> 00:26:39,360
Speaker 2: it is. And this really helps in choosing the right

580
00:26:39,480 --> 00:26:42,440
Speaker 2: investment for each goal, because if you're planning on investing

581
00:26:42,440 --> 00:26:44,800
Speaker 2: and let's go back to you loving to go to Meredith.

582
00:26:45,480 --> 00:26:48,120
Speaker 2: I know, Meredith is this year right, Like, it's less

583
00:26:48,119 --> 00:26:50,560
Speaker 2: than twelve months away. So I'm not going to let

584
00:26:50,560 --> 00:26:52,720
Speaker 2: you invest that money in the short term. But you

585
00:26:52,800 --> 00:26:55,040
Speaker 2: might have a really long term goal of buying your

586
00:26:55,080 --> 00:26:57,520
Speaker 2: own house, and you go, Vie, that's not going to

587
00:26:57,560 --> 00:27:00,239
Speaker 2: happen in the next you know, ten plus years. Might

588
00:27:00,280 --> 00:27:03,000
Speaker 2: go well, maybe we could invest that money. So we

589
00:27:03,080 --> 00:27:05,800
Speaker 2: really need to understand our time frames on our goals

590
00:27:05,800 --> 00:27:07,840
Speaker 2: so we know what we can do with that money.

591
00:27:08,080 --> 00:27:08,880
Speaker 2: Does that make sense?

592
00:27:09,000 --> 00:27:09,600
Speaker 4: Great point?

593
00:27:09,760 --> 00:27:11,760
Speaker 2: All right, So the third thing we are going to

594
00:27:11,840 --> 00:27:15,479
Speaker 2: do is look into the world and asset classes. And

595
00:27:15,520 --> 00:27:17,520
Speaker 2: you showed me before that you knew exactly what you

596
00:27:17,560 --> 00:27:19,959
Speaker 2: were talking about. Yes, so we're going to talk about

597
00:27:20,280 --> 00:27:23,520
Speaker 2: shares and property and bonds and cash, and we have

598
00:27:23,640 --> 00:27:26,359
Speaker 2: spoken about the different types of asset classes before on

599
00:27:26,400 --> 00:27:28,600
Speaker 2: their podcast. But what I want you to do is

600
00:27:28,680 --> 00:27:31,600
Speaker 2: also conduct detailed research. So what you're going to do

601
00:27:31,800 --> 00:27:34,440
Speaker 2: is literally use Google and you're going to look up,

602
00:27:34,800 --> 00:27:38,879
Speaker 2: you know, factors like expected returns and time frames and

603
00:27:38,960 --> 00:27:40,640
Speaker 2: how quickly you can get rid of that and what

604
00:27:40,720 --> 00:27:44,720
Speaker 2: tax implications exist for those asset classes. We've done so

605
00:27:44,840 --> 00:27:48,520
Speaker 2: many episodes on what different asset classes exist, and you know, Beck,

606
00:27:48,600 --> 00:27:50,000
Speaker 2: a couple of weeks ago, you and I were talking

607
00:27:50,000 --> 00:27:53,800
Speaker 2: about the differences between ETFs and shares and managed funds

608
00:27:53,880 --> 00:27:57,240
Speaker 2: and what that looks like. But back to the understanding

609
00:27:57,320 --> 00:28:01,280
Speaker 2: your risk profile. That's going to be pretty cool when

610
00:28:01,320 --> 00:28:05,119
Speaker 2: it comes to actually investing and getting yourself off the

611
00:28:05,200 --> 00:28:08,080
Speaker 2: ground because a risk profile is going to guide what

612
00:28:08,240 --> 00:28:10,560
Speaker 2: you are comfortable taking on. So if you've not heard it,

613
00:28:10,640 --> 00:28:12,919
Speaker 2: please just go back and listen to that episode. Your

614
00:28:12,960 --> 00:28:16,200
Speaker 2: risk profile is going to really hone down what's accessible

615
00:28:16,240 --> 00:28:18,240
Speaker 2: to you as well. So if you've got that feeling

616
00:28:18,320 --> 00:28:20,520
Speaker 2: of analysis paralysis, your risk profile is going to be

617
00:28:20,600 --> 00:28:23,879
Speaker 2: like Beck, your real conservative, we're looking at cash or

618
00:28:23,880 --> 00:28:27,880
Speaker 2: an ETF basically, and you go, oh, that's helpful because

619
00:28:27,880 --> 00:28:29,679
Speaker 2: I've just wiped everything else off the table.

620
00:28:30,000 --> 00:28:30,400
Speaker 4: Gotcha.

621
00:28:30,520 --> 00:28:31,840
Speaker 2: A risk profile can do that for you.

622
00:28:32,240 --> 00:28:35,439
Speaker 4: I'm not gonna lie. This all sounds kind of boring.

623
00:28:36,640 --> 00:28:38,320
Speaker 4: Just call it out, is babe. You know, I wonder

624
00:28:38,320 --> 00:28:39,960
Speaker 4: if we get to a fun part eventually.

625
00:28:40,080 --> 00:28:42,400
Speaker 2: Oh you want to know how to build your football?

626
00:28:42,560 --> 00:28:42,760
Speaker 1: Yeah?

627
00:28:43,080 --> 00:28:44,400
Speaker 2: Can I buy some stuff yet?

628
00:28:44,520 --> 00:28:44,600
Speaker 1: Or?

629
00:28:44,680 --> 00:28:48,400
Speaker 2: Like, am I still just writing down my goals. Yeah, okay,

630
00:28:48,440 --> 00:28:50,280
Speaker 2: So now we're at the fun beer right, which is

631
00:28:50,320 --> 00:28:54,400
Speaker 2: where we actually get to build our portfolio. Because we

632
00:28:54,480 --> 00:28:56,680
Speaker 2: have looked at tailoring our goals, We've looked at our

633
00:28:56,720 --> 00:28:59,280
Speaker 2: time frame, we understand our risk tolerance and what asset

634
00:28:59,280 --> 00:29:02,760
Speaker 2: classes we could potentially buy. We now know because we've

635
00:29:02,760 --> 00:29:05,800
Speaker 2: listened to all these other episodes that diversifying across lots

636
00:29:05,800 --> 00:29:09,800
Speaker 2: of different asset classes helps us to protect against potential losses.

637
00:29:10,280 --> 00:29:13,040
Speaker 2: So it's actually time to do the fun thing and

638
00:29:13,160 --> 00:29:17,160
Speaker 2: roll up your sleeve, assess your financial landscape, and let's

639
00:29:17,640 --> 00:29:24,800
Speaker 2: set sale. She loves related puns ocean related to set

640
00:29:24,800 --> 00:29:28,480
Speaker 2: sale on the path to creating your own investment strategy.

641
00:29:28,960 --> 00:29:31,800
Speaker 2: So for short term goals, as I dropped before, maybe

642
00:29:31,880 --> 00:29:35,200
Speaker 2: consider investments like savings accounts that are a little bit

643
00:29:35,240 --> 00:29:37,680
Speaker 2: more conservative, maybe looking at a term deposit or a

644
00:29:37,680 --> 00:29:41,360
Speaker 2: government bond. These investments are lower risk because they're less

645
00:29:41,400 --> 00:29:43,880
Speaker 2: likely to fall in value and you can access your money.

646
00:29:43,880 --> 00:29:46,400
Speaker 2: Still for the longer term goals like I gave the

647
00:29:46,440 --> 00:29:49,480
Speaker 2: example of you buying a house in turn plus years,

648
00:29:49,480 --> 00:29:53,880
Speaker 2: investments that have higher returns, like maybe shares or property

649
00:29:54,160 --> 00:29:57,400
Speaker 2: can actually be a little bit more suitable for these

650
00:29:57,440 --> 00:30:01,240
Speaker 2: goals and for that timeframe. So these vestments are higher risk,

651
00:30:01,600 --> 00:30:05,400
Speaker 2: but you're investing long term, which rides out any short

652
00:30:05,480 --> 00:30:08,080
Speaker 2: term falls in value, which is really sexy. So it's

653
00:30:08,120 --> 00:30:10,880
Speaker 2: important to make sure that you diversify your portfolio across

654
00:30:10,920 --> 00:30:14,840
Speaker 2: lots of different asset classes and with in each asset class.

655
00:30:14,880 --> 00:30:18,000
Speaker 2: But obviously, Beck, you've said before, I just want ANYTF

656
00:30:18,040 --> 00:30:20,920
Speaker 2: You don't have to worry too much because y's automatic diversification.

657
00:30:21,440 --> 00:30:23,680
Speaker 2: But this is going to protect you against losing too much.

658
00:30:23,720 --> 00:30:27,160
Speaker 2: But once you're at this point, Beck, we're going shopping.

659
00:30:27,680 --> 00:30:31,320
Speaker 2: You know exactly what you want, you know the timeframe

660
00:30:31,360 --> 00:30:33,160
Speaker 2: of your investment, you know how much you can afford.

661
00:30:33,160 --> 00:30:34,880
Speaker 2: Because we did our budget, we did our cash flow,

662
00:30:35,040 --> 00:30:37,160
Speaker 2: we looked at the different asset classes. You picked one.

663
00:30:37,680 --> 00:30:40,840
Speaker 2: Now we just have to go to the supermarket and

664
00:30:41,120 --> 00:30:44,400
Speaker 2: pick which one we're buying. Fun It's like their share

665
00:30:44,480 --> 00:30:46,600
Speaker 2: market is kind of like coals, and you go down

666
00:30:46,640 --> 00:30:48,760
Speaker 2: to coals, but there's lots and lots of different products

667
00:30:48,800 --> 00:30:51,400
Speaker 2: in coals. But you just created a recipe, so you're

668
00:30:51,440 --> 00:30:53,920
Speaker 2: going to go in and go all right, Well, you

669
00:30:53,960 --> 00:30:57,000
Speaker 2: know I'm making dumplings at home. I need some flour.

670
00:30:57,200 --> 00:30:59,240
Speaker 2: You're going to go to the flower section and look

671
00:30:59,280 --> 00:31:02,680
Speaker 2: at the different floss. Flower is your ETF. So you're

672
00:31:02,680 --> 00:31:04,720
Speaker 2: gonna look at the different ETFs and pick one that

673
00:31:04,800 --> 00:31:07,600
Speaker 2: aligns to your budget, aligns to your goals and your values.

674
00:31:07,800 --> 00:31:09,840
Speaker 2: Like if you're gluten free, you're gonna pick a gluten

675
00:31:09,840 --> 00:31:12,880
Speaker 2: free flower, right, Sure, but that could be true of

676
00:31:13,040 --> 00:31:15,320
Speaker 2: if you're going to the shop and going, well, I

677
00:31:15,360 --> 00:31:17,720
Speaker 2: want an ETF, but it needs to be ethical. Sure,

678
00:31:17,880 --> 00:31:19,360
Speaker 2: it doesn't have to be complicated.

679
00:31:19,720 --> 00:31:22,440
Speaker 4: That makes so much sense and that that sounds like

680
00:31:22,480 --> 00:31:23,120
Speaker 4: my kind of fun.

681
00:31:23,200 --> 00:31:26,520
Speaker 2: Yeah, because you like shopping, I do. I do really

682
00:31:26,560 --> 00:31:28,560
Speaker 2: like dumplings, so I felt like that would work.

683
00:31:28,600 --> 00:31:31,200
Speaker 4: That's true, okay for me. Anyway, that's probably a good

684
00:31:31,240 --> 00:31:31,640
Speaker 4: place to sleep.

685
00:31:32,200 --> 00:31:35,280
Speaker 2: Final thoughts. We are absolutely done. The last thing I

686
00:31:35,280 --> 00:31:38,840
Speaker 2: do want to say, though, is please friends, remember to

687
00:31:38,920 --> 00:31:42,400
Speaker 2: start small micro investment platforms and platforms that enable you

688
00:31:42,440 --> 00:31:45,960
Speaker 2: to invest with small, small amounts of money to begin

689
00:31:46,080 --> 00:31:49,840
Speaker 2: with can be fantastic for learning. I also want you

690
00:31:49,880 --> 00:31:52,240
Speaker 2: to be really kind to yourself because this is a

691
00:31:52,320 --> 00:31:56,400
Speaker 2: journey and mistakes are just stepping stones to successes, right,

692
00:31:56,560 --> 00:31:59,040
Speaker 2: Like I have failed so many times. But the thing

693
00:31:59,080 --> 00:32:01,360
Speaker 2: that has meant that I can be successful. As I

694
00:32:01,400 --> 00:32:03,080
Speaker 2: get up, I dust myself off and go wow, I

695
00:32:03,120 --> 00:32:04,600
Speaker 2: learned from that. I'm not going to do that again.

696
00:32:04,920 --> 00:32:07,040
Speaker 2: It's like touching an electric fence. You're not going to

697
00:32:07,080 --> 00:32:08,320
Speaker 2: do it twice? Are you?

698
00:32:08,400 --> 00:32:10,520
Speaker 4: I have done? But yes, I agree that was a choice.

699
00:32:10,520 --> 00:32:13,760
Speaker 2: So wasn't it back a weird one? But we'll talk

700
00:32:13,760 --> 00:32:16,120
Speaker 2: about that later. We'll talk about that off here, but

701
00:32:16,240 --> 00:32:19,360
Speaker 2: most importantly, when it comes to investing, when in doubt,

702
00:32:19,360 --> 00:32:23,280
Speaker 2: my friend zoom out the road to financial empowerment. Honestly,

703
00:32:23,560 --> 00:32:26,440
Speaker 2: it's filled with twists and turns. It's never ever linear,

704
00:32:26,520 --> 00:32:29,680
Speaker 2: but each and every single one is really important for growth.

705
00:32:30,040 --> 00:32:32,080
Speaker 2: So let's just embrace the journey for what it is.

706
00:32:32,120 --> 00:32:34,440
Speaker 2: It's not about the destination. We're learning along the way.

707
00:32:35,080 --> 00:32:38,120
Speaker 2: Stay curious, my friends, and know that you're taking an

708
00:32:38,240 --> 00:32:41,360
Speaker 2: airpeck step towards securing your financial future, which I'm so

709
00:32:41,440 --> 00:32:45,280
Speaker 2: excited about. So until then, we love you. Have fun.

710
00:32:45,800 --> 00:32:47,760
Speaker 2: Please let me know if you've just started investing.

711
00:32:47,960 --> 00:32:50,239
Speaker 4: Absolutely, And just a reminder that the episodes that we

712
00:32:50,360 --> 00:32:51,640
Speaker 4: mentioned today are in the show notes.

713
00:32:51,720 --> 00:32:53,480
Speaker 2: Yeah, because we know that you didn't have a pen.

714
00:32:53,560 --> 00:33:00,160
Speaker 2: You're listening to a podcast in the Car Bye Bye.

715
00:33:03,000 --> 00:33:05,520
Speaker 5: The advice shared on She's on the Money is general

716
00:33:05,600 --> 00:33:09,440
Speaker 5: in nature and does not consider your individual circumstances. She's

717
00:33:09,480 --> 00:33:12,960
Speaker 5: on the Money exists purely for educational purposes and should

718
00:33:12,960 --> 00:33:16,160
Speaker 5: not be relied upon to make an investment or financial decision.

719
00:33:16,560 --> 00:33:19,000
Speaker 5: If you do choose to buy a financial product, read

720
00:33:19,000 --> 00:33:23,160
Speaker 5: the PDS TMD and obtain appropriate financial advice tailored towards

721
00:33:23,200 --> 00:33:26,480
Speaker 5: your needs. Victoria Divine and She's on the Money are

722
00:33:26,520 --> 00:33:31,480
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723
00:33:31,560 --> 00:33:35,520
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724
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