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Speaker 1: Hello.

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Speaker 2: My name's Satasha Nabananga Bamblet. I'm a proud or the

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Speaker 2: Order Kerni Whoalbury and a waddery woman. And before we

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Speaker 2: get started on She's on the Money podcast, I would

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Speaker 2: like to acknowledge the traditional custodians of the land of

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Speaker 2: which this podcast is recorded on a wondery country, acknowledging

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Speaker 2: the elders, the ancestors and the next generation coming through

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Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and

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Speaker 2: the storytelling of you to make a difference for today

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Speaker 2: and lasting impactful tomorrow.

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Speaker 1: Let's get into it. She's on the Money, She's on

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Speaker 1: the Money. Hello, and welcome to She's on the Money,

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Speaker 1: the podcast that's here to show you investing isn't just

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Speaker 1: for the rich, It's for you too. Now, what happens

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Speaker 1: when you get two retired financial advisors in a room together.

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Speaker 1: It's not a joke. Well, it actually turns out they

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Speaker 1: can't not talk about investing. So we decided to hand

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Speaker 1: control of this episode over to you, our beautiful community,

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Speaker 1: to find out the biggest investing questions that are currently

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Speaker 1: on your mind. I'm Victoria Devine and of course I'm

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Speaker 1: one of the two retired financial advisors because in the

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Speaker 1: room today also joining us mister Glenn James.

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Speaker 3: Hello VD, and hello to all your listeners.

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Speaker 1: I'm so excited, Glenn, before we dive further in, I

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Speaker 1: feel like a lot of the og she's on the

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Speaker 1: money listeners are gonna know exactly who you are. Your dad,

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Speaker 1: I'm mum. But for those of you who are maybe

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Speaker 1: new to the pod, who are you, Glenn? How'd you

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Speaker 1: get on the show?

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Speaker 3: Actually I read a review once yeah, and someone had

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Speaker 3: to go at you have me on the podcast?

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Speaker 1: I would too, honestly paid me so much money to

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Speaker 1: get in this room. It's priceless, honestly double what you

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Speaker 1: paid last.

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Speaker 3: Time, exactly. I've known VD for many years. Unlucky we

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Speaker 3: were on the financial advice scene. Kind of still are.

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Speaker 3: In Australia. I run a podcast called Money, Money, Money.

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Speaker 3: You probably know it as My Millennial Money, but I

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Speaker 3: changed the name. It was Millennials. It's not cool anymore.

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Speaker 3: It was in twenty eighteen.

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Speaker 1: It's not. I'm learning that I'm actually very uncool. And

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Speaker 1: I was telling you just before that one of the

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Speaker 1: people in my team has said, Victoria Devine, if you

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Speaker 1: say slate again you're out. That's very millennial, canceled totally.

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Speaker 3: And we are talking about Sigma pharmaceuticals today.

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Speaker 1: We are, and I'm so excited.

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Speaker 3: That's the word, right.

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Speaker 1: Yeahs POTENTI Sigma Sigma and we got to say Diva

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Speaker 1: instead of slack there. Yeah, absolutely. And they do not

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Speaker 1: wear ankle socks, which you're not today. So I'm actually

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Speaker 1: quite proud of you.

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Speaker 3: I don't wear ankle socks.

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Speaker 1: Yeah, because you're cool.

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Speaker 3: Not heapes. But yeah, So we love to talk about money.

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Speaker 3: A lot of my listeners are also listeners of your podcast,

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Speaker 3: and there's great overlap with our content. We both want

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Speaker 3: good things for good people.

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Speaker 1: I like it well, Glenn. Our community delivered. They did

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Speaker 1: not disappoint. We've got questions about everything, some of them

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Speaker 1: I had to remove, but questions from how to actually

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Speaker 1: invest regularly without getting stung by additional fees, like at

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Speaker 1: what point does brokerage kick in to figuring out if

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Speaker 1: your portfolio is actually balanced? What does that even mean?

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Speaker 1: And we're tackling the age old question Glenn of when

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Speaker 1: do you know it's time to actually change your strategy.

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Speaker 1: Plus we've got some spicy discussions on whether you should

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Speaker 1: invest jointly with your partner, what to look for in

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Speaker 1: a tech ETF, and of course all the buzz that

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Speaker 1: is currently surrounding chemist warehouse. Now, if you've ever stared

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Speaker 1: at your portfolio and have thought am I actually doing

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Speaker 1: this right? What to stick around? Because we're about to

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Speaker 1: break all of it down for you? All right, Glenn,

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Speaker 1: let's just dive straight in. Our first community member said

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Speaker 1: Glenn Victoria. I want to invest regularly, but I'm so

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Speaker 1: worried about racking up face. What is the best way

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Speaker 1: to time my investments so that I keep costs low

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Speaker 1: without sacrificing consistency.

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Speaker 3: It's a good question, and it's a valid argument in

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Speaker 3: every area of our life. I have a car, A

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Speaker 3: costs to run that car, but I get the benefits

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Speaker 3: for having that cost in my life. It's no different

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Speaker 3: with when we invest. We may need to pay for

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Speaker 3: costs to do the transaction. We may need to pay

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Speaker 3: costs to have a professional if we're going down that road.

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Speaker 3: So we can't remove costs from our life. But I

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Speaker 3: think it's important to understand the costs and make a

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Speaker 3: judgment call. I will say, when we get started with investing,

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Speaker 3: you know you've worked with Sharess. There's plenty of investing

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Speaker 3: apps that are very low cost relative to the money

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Speaker 3: that you put in. There's an app Superhero. I think

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Speaker 3: they charge three dollars per trade for a GTS deal,

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Speaker 3: which at the end of the day, it's the cost

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Speaker 3: of doing business if you want to any invest And

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Speaker 3: we shouldn't be dictating our investing strategy by a tax

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Speaker 3: outcome by investing fees. Now there is a pendulum that

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Speaker 3: swings if they're like, oh, if you invest one hundred dollars,

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Speaker 3: there's fifty dollars in fees. Well, no, we're not doing that.

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Speaker 3: But the winning point here is you are getting started,

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Speaker 3: you are investing. And this is a crazy kind of

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Speaker 3: comment that flies in the face with some money community

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Speaker 3: members out there who produce money content. There comes a

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Speaker 3: point in your financial life where you can't expense, hack

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Speaker 3: or reduce costs in order to get to financial freedom.

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Speaker 3: But there's only so much you can do, so don't

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Speaker 3: stress too much. Any of the big type of apps

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Speaker 3: that you've heard of, I'm confident to say that, and

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Speaker 3: this is a broad statement and.

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Speaker 1: With a broad brush general only.

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Speaker 3: Any of the big players that you see in Facebook

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Speaker 3: groups sponsored podcasts, they're not going to be unscrupulous, and

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Speaker 3: particularly I know UVD and for me on my podcast,

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Speaker 3: we don't work with brands that we think aren't good

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Speaker 3: on balance for a lot.

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Speaker 1: Of people, Like, if I am working with somebody, you

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Speaker 1: can guarantee that I would use them personally, Like it

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Speaker 1: doesn't mean I am because there's so many different players

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Speaker 1: in the market, And like, if I'm working with a

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Speaker 1: bank but I already have my banking set up with one,

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Speaker 1: I'm not going to change to the other. But I

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Speaker 1: wouldn't have an issue doing so. And I think that's

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Speaker 1: a really important point to remember because both you and

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Speaker 1: I we were actually having this beautiful conversation before we

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Speaker 1: started recording. We're talking about brands like that we'd recently

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Speaker 1: said no to, and we'd never just throw brands under

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Speaker 1: the bus. I'm sorry there's no tea there, but like

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Speaker 1: just oh yeah, actually yeah, no, we're not working with

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Speaker 1: anybody now pay later as that is all right. So, like,

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Speaker 1: I mean more aligned brands, but there are some that

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Speaker 1: both of us are like absolutely not, Like either we

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Speaker 1: don't like their management teams, or we don't like their structure,

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Speaker 1: or we don't like their PDS. So, like, there have

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Speaker 1: been multiple times that I have been like, your product is beautiful,

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Speaker 1: My community adore this product, and I would love to

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Speaker 1: support you, but your PDS says some things in there

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Speaker 1: that I'm just not comfortable with, and like, I would

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Speaker 1: never want just one person in my community to be

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Speaker 1: tripped by those So.

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Speaker 3: And I think it's a good point you make, Like

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Speaker 3: we're talking about product here and costs in the money world,

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Speaker 3: and there's a question we maybe can go to that

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Speaker 3: question now as I produce your.

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Speaker 1: Podcast on this You can do whatever you want, we can.

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Speaker 3: We need to talk about strategy first, and I'm a

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Speaker 3: bit basic, So I like to use analogies to that

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Speaker 3: car analogy where we buy a car and we have

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Speaker 3: to pay on road costs and fuel before we worry

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Speaker 3: about should I buy a car yes or no? Because

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Speaker 3: there's fees involved. Let's go back. Okay, you need a car.

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Speaker 3: Do you need something that's a compact suv? Lucy's in

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Speaker 3: the studio with us today, so throw Lucy in the

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Speaker 3: back of Do we need a little hatchback to zip

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Speaker 3: around town? We can't get an electric car because I've

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Speaker 3: got nowhere to charge it. Do I need a Prato

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Speaker 3: because we're doing an overland tour with the family. We

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Speaker 3: have to work out the strategy for the car first,

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Speaker 3: and that is I've nailed my strategy down to I

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Speaker 3: want to compact suv. I'm going to get a hybrid

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Speaker 3: one that's looking like a RAB four on balance whatever.

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Speaker 3: So okay, awesome, Now we know our strategy. Then we

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Speaker 3: can kind of dial in and look in that strategy.

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Speaker 3: We know a RAV four hybrid will suit our needs. Okay,

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Speaker 3: can't afford the high We'll still get the RAB four

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Speaker 3: of like a blue one. Can't find a secondhand blue one,

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Speaker 3: I'm going to settle for a white one because on balance,

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Speaker 3: that white RAB four still meets.

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Speaker 1: All of the criteria, all the needs.

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Speaker 3: Yeah.

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Speaker 1: So, and there are things that are nice to have, right, Yeah,

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Speaker 1: I agree. And I think when we're talking about investing regularly,

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Speaker 1: because you and I both on our podcasts say you

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Speaker 1: need to be regularly and consistently investing, but also some

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Speaker 1: of us just don't have the cash to be investing

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Speaker 1: large sums of money. And at that point you might

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Speaker 1: be a little bit confused because you're like, but Victoria,

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Speaker 1: you talk about dollar cost averaging and the importance of

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Speaker 1: consistently being in the market. But then I also I

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Speaker 1: am going to tell you, if you are investing fifty

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Speaker 1: dollars a month and then you have your brokerage feet

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Speaker 1: on top of that, perhaps that's actually a bit detrimental

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Speaker 1: because yes, you're dollar cost averaging, but then it's costing

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Speaker 1: you more to get into the market. We need to go, Okay, well,

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Speaker 1: if my buddy for investing is fifty dollars a month,

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Speaker 1: perhaps I actually invest maybe every three months and make

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Speaker 1: the most of brokerage. But the important thing here is

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Speaker 1: that every single month you're still putting that money to

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Speaker 1: the side. You might not actually make that investment transaction

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Speaker 1: until you have one hundred and fifty dollars based on

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Speaker 1: the maths that you've decided. All right, I'm happy to

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Speaker 1: spend that, you know, three dollars in brokerage because it's

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Speaker 1: a larger sum of money. Therefore it's a smaller percentage

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Speaker 1: of the overall investment.

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Speaker 3: I like to tell people have a strategy, however small.

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Speaker 3: So you've just said to me your strategy big picture,

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Speaker 3: I want to invest for my future. I want to

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Speaker 3: live on less mode, I earn and invest the rest

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Speaker 3: that's your strategy. Okay, I've got fifty dollars a week

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Speaker 3: to invest as part of my strategy. Awesome. Then what

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Speaker 3: you've done, You've said, okay, fifty dollars a week investing.

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Speaker 3: If I go to a traditional broker like your com set,

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Speaker 3: your NAB trade, they may charge nineteen dollars per trade.

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Speaker 1: And I think that that's where people get a little

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Speaker 1: bit caught up in like which is the best investment platform,

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Speaker 1: and it's like, well, there's actually one that's is your strategy.

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Speaker 1: There's actually no such thing because like someone could say

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Speaker 1: it's com sec and then the reality of that situation

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Speaker 1: is yeah for them, yeah, because they're happy to spend

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Speaker 1: nineteen dollars a trade. And that works because you didn't

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Speaker 1: realize they're investing four thousand dollars a month and that

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Speaker 1: nineteen dollars is actually such a small percentage. But they've

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Speaker 1: made a recommendation to somebody investing fifty dollars a month.

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Speaker 1: Can you imagine how much your profit is going to

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Speaker 1: be eaten away if your trade is nineteen dollars but

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Speaker 1: your investment is fifty dollars every month, Like that is

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Speaker 1: detrimental to you creating wealth.

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Speaker 3: Yeah, so strategy always comes first. Then we look as

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Speaker 3: part of the strategy potentially ownership structure. There's a question

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Speaker 3: there about joint accounts.

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Speaker 1: We can perving on my list. I didn't give you

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Speaker 1: a list. How do you know what's on my list?

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Speaker 1: Emma showed you and as our producer, and she's too

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Speaker 1: organized for me.

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Speaker 3: Strategy, ownership structure, product, which is the investment app or play?

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Speaker 1: What are we actually investing on? Then we can talk

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Speaker 1: about ETFs or we can talk about the actual investment,

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Speaker 1: which is actually where this leads. So I've got two questions.

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Speaker 1: And one of our community members said, Hey, guys, I'm

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Speaker 1: trying to build my portfolio, but I actually feel like

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Speaker 1: I've just plucked the percentages out of thin air. How

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Speaker 1: do I actually work out the right balance for your investments?

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Speaker 1: Because like, let's say we've picked our product and we

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Speaker 1: are on an investing platform, and now it's time to

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Speaker 1: pick our actual investments that we are putting money into. Glenn,

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Speaker 1: let's start with a round number that I feel like

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Speaker 1: a lot of our community use as an example. It

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Speaker 1: doesn't mean you have to start with that because on

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Speaker 1: a lot of investing platforms you can invest with as

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Speaker 1: little as one cent. But let's say you've got a

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Speaker 1: thousand dollars, Glenn, because I feel like that's a sturdy

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Speaker 1: follow your beginning.

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Speaker 3: Can we do ten thousand?

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Speaker 1: We can do ten thousand? Yeah, you rich Riach, I

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Speaker 1: like it.

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Speaker 3: I was worried you're going to say, let's start with

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Speaker 3: nine and twenty dollars.

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Speaker 1: Oh no, we only work in round numbers because I

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Speaker 1: need to lull my community into thinking I'm actually good

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Speaker 1: at maths, and I can only work with round numbers

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Speaker 1: in my head. So let's do ten thousand dollars. How

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Speaker 1: do we then go? All right, well, how am I

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Speaker 1: balancing this?

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Speaker 3: Like?

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Speaker 1: Am I doing half half? Am I doing twenty five

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Speaker 1: percent of each? What's that look like?

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Speaker 3: So? I love everything that we do in the money world.

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Speaker 3: We do these podcast career. I love that we talk

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Speaker 3: about investing the problem that we get online and whatever

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Speaker 3: industry you're in. So we're in the money industry, if

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Speaker 3: you're in the health industry, if you're in the fitness industry,

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Speaker 3: if you're in the butcher baker, candlestick maker industry. When

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Speaker 3: stuff gets online, the top line vibe of all that

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Speaker 3: we do online is awesome. We want people to invest

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Speaker 3: for the future, stunning. The problem then sets in when

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Speaker 3: we get down to other levels with different content creators

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Speaker 3: is the nuance and people will get dogged on a

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Speaker 3: point that doesn't make sense to get chess other people

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Speaker 3: chest sponsorships one of them. So there's a school of

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Speaker 3: thought where we get questions like this. People come in

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Speaker 3: listen to She's on the Money. I listen to your

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Speaker 3: podcast sometimes, why we we ack in?

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Speaker 1: Do you miss me? And you're like, I need to

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Speaker 1: give vd's voice. Yeah, I hope you're listening to the

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Speaker 1: Deep Dive so that you can learn as well. Yeah, fantastic.

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Speaker 3: So we get all this information and we're like, I've

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Speaker 3: got to get started investing, and I'm new to the

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Speaker 3: Facebook group. Someone has just said what percentage allication do

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Speaker 3: I need? How do I build my portfolio? And I'm

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Speaker 3: offensive and I get canceled every other week. There's a

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Speaker 3: train of thought to say, with respect and care that

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Speaker 3: if you don't quite know what percentages to make up

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Speaker 3: your portfolio, how can you know how to manage a portfolio? Ongoing? Okay,

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Speaker 3: so there's that.

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Speaker 1: I have a whole investing masterclass room, lease do that. Yeah,

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Speaker 1: But also we need to answer the question on the

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Speaker 1: podcast because otherwise we gate keeping exactly.

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Speaker 3: So that being said, you've got some options there, we

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Speaker 3: do the portfolio in a box, your ETF. That's the

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Speaker 3: one stop shop. So I focus on being good at

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Speaker 3: my work. I've got my fifty dollars a week and

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Speaker 3: I'm put into that and get on with my life.

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Speaker 3: Then we go to the next step, which your lovely

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Speaker 3: question is written in. I want to build a portfolio.

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Speaker 3: I actually have learned about investing. I know that I

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Speaker 3: can buy a single ETF with Australian Shares awesome. I

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Speaker 3: know I can get an ETF with just American or

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Speaker 3: just Tech awesome. So the question is now, if you

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Speaker 3: want to go down that road and have a bit

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Speaker 3: of a DIY, sure, what percentages do we use? Aha,

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Speaker 3: I've got an answer.

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Speaker 1: Don't know if it's the best that your risk profile.

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Speaker 3: It is, But I'm talking more simplistically. If you look

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Speaker 3: into your superannuation account and have a look at index

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Speaker 3: balanced option with any major superfund, they will show you

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Speaker 3: what their research says is a good balancing their portfolio. Yeah,

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Speaker 3: there might go yet thirty five percent International, twenty five

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Speaker 3: percent Australian and a bit of property.

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Speaker 1: You could mirror that a cold restar profile. And that's

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Speaker 1: actually something that in my investing master class I teach

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Speaker 1: because it's like you have your risk profile and you

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Speaker 1: would know when you do this with clients, Glen, it

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Speaker 1: comes out with a beautiful pie chart. And I love

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Speaker 1: to talk about pie charts because like I'm a visual learner,

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Speaker 1: and we know that this amount should be shared, this

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Speaker 1: amount should be property, this amount of cash, and maybe

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Speaker 1: some like fixed interest assets, and I want that, but

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Speaker 1: I want it just for my share portfolio. And one

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Speaker 1: of the best ways to do that is to look

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Speaker 1: at superanuation breakdowns of what a low risk portfolio balance

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Speaker 1: putfall or a high growth portfolio is. And you will

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Speaker 1: find more often than not, and this is a broadbrush

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Speaker 1: statement again that if we look at a growth portfolio,

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Speaker 1: because most of my community are growth investors from our research,

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Speaker 1: you look at it and it goes all right, well,

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Speaker 1: forty five percent international assets, fifty percent Australian assets, and

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Speaker 1: then you might have five percent of like bonds or cash,

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Speaker 1: and so you go, all right, am I comfortable with that?

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Speaker 1: Does that suit me? And we're not saying that that would,

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Speaker 1: but it's a good example. All right, I'm going to

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Speaker 1: now either build that out with individual shares and I'm

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Speaker 1: going to take of my ten thousand dollars four and

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Speaker 1: a half thousand dollars of that, and I'm buying international assets.

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Speaker 1: Is that an international ETF? Is that international direct assets?

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Speaker 1: Keep in mind, if it is ever international, you will

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Speaker 1: never own it directly. I have an international ETF to

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Speaker 1: be clear. And then you've got your fifty percent. You

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Speaker 1: could build that out with maybe like six or eight direction,

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Speaker 1: or you could pick an ETF that makes sense to you.

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Speaker 1: And I would say most people in our community, from

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Speaker 1: our research, pick two different ETFs and then they might

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Speaker 1: pick a bond. They might pick to keep a little

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Speaker 1: bit of cash. And we always say, and financial advisors

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Speaker 1: will tell you that keeping cash in your portfolio is important,

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Speaker 1: not because it's not invested and it's not working, but

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Speaker 1: like you're going to have the ability to rebalance whenever

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Speaker 1: you need to. So with your weekly or monthly contributions,

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Speaker 1: you'll be contributing fantastic, but one is going to grow

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Speaker 1: more than the other, and you might need to tip

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Speaker 1: a little bit of cash here or there to keep

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Speaker 1: that balance and so that's what we mean when we

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Speaker 1: say building a portfolio, or that's what we mean when

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Speaker 1: we talk about balancing. And I just get so passionate

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Speaker 1: about that because I'm like, I can show you, like

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Speaker 1: I need to sit you down and give you examples,

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Speaker 1: because I'm going to give you this example, and it's

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Speaker 1: going to be really constructive, but at night, not fit you.

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Speaker 1: You need to go back and do the work to

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Speaker 1: get the outcome. There's actually no hey, here's actually the answer.

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Speaker 3: So I think you've got your investing master class.

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Speaker 1: I do.

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Speaker 3: I would honestly say, and this is the best thing

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Speaker 3: about investing. We can spend a whole hour talking about

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Speaker 3: one question. If you are getting started, I believe the

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Speaker 3: best and the first investment you should make is in

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Speaker 3: your own education and understanding one hundred You're investing master class.

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Speaker 3: It's under four hundred dollars.

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Speaker 1: That's a money win.

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Speaker 3: I would honestly say, invest in the master class, do

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Speaker 3: the time, learn, then start your investing. In fact, I

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Speaker 3: will to anyone who's on my Instagram that's going to

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Speaker 3: look at maybe some of these clips, I'm going to

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Speaker 3: donate three master classes.

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Speaker 1: Oh no, I'm going to do that. To you and

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Speaker 1: then you can give them back or whatever.

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Speaker 3: I want to give away some masterclass, I will pay

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Speaker 3: with my own money, okay, because I believe we need

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Speaker 3: to understand first before we invest. Now, on that school

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Speaker 3: of thought of whether we build our own portfolio, we

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Speaker 3: do tweaks. We need to understand and work out whether

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Speaker 3: we are a set and forget investor or we want

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Speaker 3: to dabble and tweak. I would say I'm more of

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Speaker 3: a set and forget investor. There is a disclosure here.

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Speaker 3: Victoria and I are licensed by a company and they've

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Speaker 3: got an investment platform called live Sharper Invest. They have

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Speaker 3: not paid for me to say this.

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Speaker 1: No, it's just a good pot.

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Speaker 3: I did a full deep dive on my show.

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Speaker 1: And we can link that.

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Speaker 3: Yeah, we'll link it in the show notes, so you

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Speaker 3: can go to the live shurper invest website. They've got

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Speaker 3: all the different portfolios so it can be like higher growth,

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Speaker 3: growth balanced, and you can see all the ETFs that

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Speaker 3: they invest in and the percentages. It's literally free, publicly

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Speaker 3: available information now and I love that.

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Speaker 1: They do that one because transparent kings, but also I

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Speaker 1: just love that they're like, no, we back ourselves, so

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Speaker 1: much that you could go do this yourself or we

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Speaker 1: could manage it for you. Diva, is that the right

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Speaker 1: slag sigma shibbitty skibby gibbity gosh skibbity toilet.

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Speaker 3: Is not aging well. So the thing is in the

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Speaker 3: deep dive I did with Vince. We did a campfire

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Speaker 3: chat podcast the other day.

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Speaker 1: I lit into those I won't Yeah, so it wasn't

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Speaker 1: for me because I listened to it on two time

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Speaker 1: speed because both of you talk like snails.

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Speaker 3: It's that millennial pause.

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Speaker 1: Yeah, but like the pause happens after every word. So

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Speaker 1: if you're going to listen to Glenn's content, that's fantastic.

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Speaker 1: It's really good content speed.

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Speaker 3: Now, the thing is you can go to a super

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Speaker 3: fun You can go to life share for invest and

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Speaker 3: look at the assets and the asset allocation, but what

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Speaker 3: if something changed is in the portfolio. You need to

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Speaker 3: be on top of that. We talked about one of

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Speaker 3: the Aussie equity funds. They made a change to a

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Speaker 3: different manager. You just have to be on top of it.

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Speaker 3: So check out live Share to invest again. I'm personally

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Speaker 3: going to be using that in my own money because

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Speaker 3: I was a client then I started super fund and

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Speaker 3: I'm now going to investing that in my superfund.

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Speaker 1: So that's exciting.

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Speaker 3: Yeah, I'm a big believer because of the transparency. I'm

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Speaker 3: happy with the fees because they're not gouging, they're reasonable,

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Speaker 3: and they take care of the investing. Yeah.

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Speaker 1: I feel like as X Advisors, we have gone through

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Speaker 1: a lot of different phases where we go real aggressive

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Speaker 1: with buying direct shares on our own. We want to

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Speaker 1: control every inch of our portfolio, and then we go, oh,

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Speaker 1: maybe we want to take our hands off and we

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Speaker 1: do a bit of super stuff, or then we put

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Speaker 1: our hands back on and go, oh, maybe I really

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Speaker 1: want to go into having just ETFs. And i feel

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Speaker 1: like I've done the swings and the roundabouts of the

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Speaker 1: last years and now I'm at a point where I'm like,

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Speaker 1: you know what, I've got a few assets that are

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Speaker 1: direct shares. They're fun, like you know, and I'm maybe

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Speaker 1: having a little bit of a look at things. Most

436
00:23:10,320 --> 00:23:14,359
Speaker 1: of my portfolio is too ets. Sorry now three ETFs

437
00:23:14,960 --> 00:23:18,080
Speaker 1: International Australian and I'm calling it a day because I'm

438
00:23:18,119 --> 00:23:21,800
Speaker 1: just exhausted with how much time, energy and effort goes

439
00:23:21,840 --> 00:23:26,720
Speaker 1: into managing a portfolio. Consistently and for what benefits, Like

440
00:23:26,800 --> 00:23:30,520
Speaker 1: I'm achieving the same returns that a managed fund can.

441
00:23:30,600 --> 00:23:33,320
Speaker 3: Yeah, And I think the older we get, the more

442
00:23:33,320 --> 00:23:35,639
Speaker 3: we look back and become a victim of the Dunning

443
00:23:35,680 --> 00:23:39,080
Speaker 3: Kruger effect. Look it up Google Images. It's an awesome thing.

444
00:23:39,200 --> 00:23:42,200
Speaker 3: You start out, you get really confident, you get ignorant.

445
00:23:42,400 --> 00:23:45,480
Speaker 3: Then you realize that our craf I know nothing, and

446
00:23:45,520 --> 00:23:49,200
Speaker 3: you kind of reset. I've realized in my life I'm

447
00:23:49,200 --> 00:23:52,480
Speaker 3: a full time content creator. That's what my focus is

448
00:23:52,520 --> 00:23:56,280
Speaker 3: on my podcast and my business. I'm outsourcing the investing,

449
00:23:56,800 --> 00:23:59,520
Speaker 3: but if you want to do it yourself, you can

450
00:23:59,600 --> 00:24:02,320
Speaker 3: copy other portfolios. You just have to be onto it.

451
00:24:02,760 --> 00:24:06,800
Speaker 1: Yeah, one hundred percent, all right, Glenn, I want to know. Now,

452
00:24:06,800 --> 00:24:11,639
Speaker 1: we've talked a lot about investing individually, but one of

453
00:24:11,680 --> 00:24:13,919
Speaker 1: the questions we got from the community was is it

454
00:24:13,960 --> 00:24:16,560
Speaker 1: a spart move to invest jointly with your partner or

455
00:24:16,600 --> 00:24:18,120
Speaker 1: should it just be in one name?

456
00:24:19,000 --> 00:24:21,879
Speaker 3: I want to know your thoughts first, or do you

457
00:24:21,880 --> 00:24:23,120
Speaker 3: want to know my first?

458
00:24:23,280 --> 00:24:25,000
Speaker 1: You can know my thoughts. Do you just want to

459
00:24:25,040 --> 00:24:26,639
Speaker 1: know my personal strategy?

460
00:24:27,160 --> 00:24:31,000
Speaker 3: Well, I guess if your personal strategy is your public thoughts.

461
00:24:31,040 --> 00:24:34,960
Speaker 1: Here are both either I mean, I'm in a situation

462
00:24:35,200 --> 00:24:39,679
Speaker 1: that is I would say privileged because if something should

463
00:24:39,720 --> 00:24:43,359
Speaker 1: happen in my relationship and we decide not to continue it,

464
00:24:43,760 --> 00:24:45,480
Speaker 1: which is not on the cards at the moment, but.

465
00:24:45,480 --> 00:24:47,560
Speaker 3: I think that anyone safe Steve for now.

466
00:24:47,720 --> 00:24:49,760
Speaker 1: Yeah, like I like Steve for now. He's in the

467
00:24:49,840 --> 00:24:52,639
Speaker 1: good books. But if we decided to part ways, we

468
00:24:52,800 --> 00:24:56,560
Speaker 1: both have the ability to continue to earn good income.

469
00:24:57,080 --> 00:25:00,639
Speaker 1: I'm not compromised because I took you time to be

470
00:25:00,680 --> 00:25:03,280
Speaker 1: a stay at home mum or like you know, made

471
00:25:03,280 --> 00:25:06,320
Speaker 1: sacrifices for his career to flourish, like he has a

472
00:25:06,359 --> 00:25:09,360
Speaker 1: solid career and so do I. So a lot of

473
00:25:09,640 --> 00:25:12,800
Speaker 1: that conversation I think needs to come into joint assets,

474
00:25:12,840 --> 00:25:15,119
Speaker 1: like you know, if you're staying at home, making a

475
00:25:15,119 --> 00:25:18,439
Speaker 1: lot of sacrifices to put someone else's career first, Like

476
00:25:18,520 --> 00:25:20,600
Speaker 1: I don't want it to be in one name. I

477
00:25:20,800 --> 00:25:23,800
Speaker 1: have an individual share portfolio that's in my name because

478
00:25:23,840 --> 00:25:26,960
Speaker 1: I established it before I even met Steve, and while

479
00:25:26,960 --> 00:25:30,199
Speaker 1: we're in that dating and like early lifestyle, as before

480
00:25:30,240 --> 00:25:32,960
Speaker 1: we were married, I was still investing into that. We

481
00:25:33,119 --> 00:25:37,320
Speaker 1: also have an investment portfolio that we own jointly, but

482
00:25:37,440 --> 00:25:40,240
Speaker 1: we own it insider trust. And the reason we own

483
00:25:40,280 --> 00:25:42,960
Speaker 1: it insider trust is because, and I'm just being really honest,

484
00:25:43,080 --> 00:25:45,119
Speaker 1: I know that I have a lot of privilege and

485
00:25:45,160 --> 00:25:46,960
Speaker 1: I am very grateful for it. But I also need

486
00:25:46,960 --> 00:25:49,000
Speaker 1: to point out I did work really hard for this,

487
00:25:49,200 --> 00:25:52,560
Speaker 1: so I don't want to be shy that I've been successful.

488
00:25:52,680 --> 00:25:55,240
Speaker 3: Yeah, there is a thing out there, and it's called

489
00:25:55,440 --> 00:25:58,800
Speaker 3: living in reality. I think I live in it. Most days.

490
00:25:59,000 --> 00:26:00,840
Speaker 3: You're allowed to work hard and be successful.

491
00:26:01,040 --> 00:26:03,240
Speaker 1: Yeah, And I don't not of the detriment to others.

492
00:26:03,560 --> 00:26:06,240
Speaker 1: Absolutely not. And that's why I'm proud of what I

493
00:26:06,280 --> 00:26:09,280
Speaker 1: do every day, because my success has come from bringing

494
00:26:09,480 --> 00:26:13,080
Speaker 1: other people up. But we also own an investment property.

495
00:26:13,160 --> 00:26:16,040
Speaker 1: So inside our trust at the moment, which we established

496
00:26:16,040 --> 00:26:18,600
Speaker 1: when we decided to, you know, kind of invest a

497
00:26:18,600 --> 00:26:22,080
Speaker 1: bit more aggressively for our futures, is an investment property

498
00:26:22,160 --> 00:26:26,560
Speaker 1: and a share portfolio. And obviously every year those profits,

499
00:26:26,640 --> 00:26:30,000
Speaker 1: if there are profits, get distributed to us and you know,

500
00:26:30,040 --> 00:26:32,880
Speaker 1: we can reinvest and whatnot. And the reason for that

501
00:26:33,040 --> 00:26:36,280
Speaker 1: is literally, because of historicals, there was no point me

502
00:26:36,840 --> 00:26:40,119
Speaker 1: selling down my share portfolio to invest it into the

503
00:26:40,160 --> 00:26:43,399
Speaker 1: trust because there would have been capital gains issues tax

504
00:26:43,440 --> 00:26:48,320
Speaker 1: issues whatnot. I have stopped contributing to that portfolio unless

505
00:26:48,320 --> 00:26:50,639
Speaker 1: it's like that portfolio holds the stuff that I like

506
00:26:50,680 --> 00:26:51,360
Speaker 1: to have fun with.

507
00:26:51,400 --> 00:26:53,000
Speaker 3: That's a side quest.

508
00:26:53,080 --> 00:26:57,280
Speaker 1: Yeah, that's side adventure. But then inside our trust, the

509
00:26:57,760 --> 00:27:00,720
Speaker 1: share portfolio that we have has a consistent the investment

510
00:27:00,760 --> 00:27:02,960
Speaker 1: that goes into it in both of our names, and

511
00:27:03,000 --> 00:27:06,280
Speaker 1: it is a joint asset and for us that works,

512
00:27:06,440 --> 00:27:10,439
Speaker 1: so I think, and you would know this already. But

513
00:27:10,480 --> 00:27:13,880
Speaker 1: the decision made there was a tax decision to hold

514
00:27:13,920 --> 00:27:17,159
Speaker 1: it inside a trust because I am a high income

515
00:27:17,240 --> 00:27:19,640
Speaker 1: earner and it's my husband position.

516
00:27:19,960 --> 00:27:23,280
Speaker 3: And I will say, family call will pierce any corporate veil.

517
00:27:23,520 --> 00:27:26,359
Speaker 3: So if there is a family court property dispute, they'll

518
00:27:26,400 --> 00:27:28,640
Speaker 3: open that trust right up. It's not protected.

519
00:27:28,800 --> 00:27:30,160
Speaker 1: It's not protected a way.

520
00:27:30,480 --> 00:27:34,920
Speaker 3: Yeah, so I think your comments I would agree with.

521
00:27:35,480 --> 00:27:38,440
Speaker 3: And when you started talking, I've got a bit nervous.

522
00:27:38,480 --> 00:27:40,000
Speaker 3: And then you said the T word trust.

523
00:27:40,640 --> 00:27:42,520
Speaker 1: You got nervous because I just own stuff in my

524
00:27:42,560 --> 00:27:45,160
Speaker 1: personal name. You're like, what is she doing?

525
00:27:45,800 --> 00:27:50,720
Speaker 3: I got a bit nervous. My personal view is I

526
00:27:50,760 --> 00:27:57,280
Speaker 3: don't think there's great benefit holding a joint investment account. However,

527
00:27:58,920 --> 00:28:01,800
Speaker 3: it's technically for both of you not because it's owned

528
00:28:01,800 --> 00:28:04,880
Speaker 3: by the trust that your beneficiaries. So if we move

529
00:28:04,920 --> 00:28:07,560
Speaker 3: that aside. If you're not a self employed person, if

530
00:28:07,560 --> 00:28:10,600
Speaker 3: you do not have a trust, and most people most

531
00:28:10,600 --> 00:28:12,160
Speaker 3: of the time don't need a trust.

532
00:28:12,000 --> 00:28:16,560
Speaker 1: That is a shiny, fancy thing that essentially tells you

533
00:28:16,720 --> 00:28:20,439
Speaker 1: that I own a significant amount of money and you're

534
00:28:20,440 --> 00:28:24,439
Speaker 1: self employed. I think it's important to be transparent with

535
00:28:24,440 --> 00:28:26,720
Speaker 1: you guys about that. I don't take it for granted

536
00:28:26,920 --> 00:28:29,040
Speaker 1: any day of the week. And do you know what

537
00:28:29,440 --> 00:28:31,480
Speaker 1: if it could be gone tomorrow, like I might lose

538
00:28:31,800 --> 00:28:34,560
Speaker 1: literally everything, and that is okay, but that's the risk

539
00:28:34,600 --> 00:28:36,600
Speaker 1: you take as a business owner. I don't want to

540
00:28:36,640 --> 00:28:39,240
Speaker 1: say that with the expectation that you then go, oh,

541
00:28:39,280 --> 00:28:41,840
Speaker 1: my goodness, Victoria has a trust with her husband and

542
00:28:41,880 --> 00:28:45,280
Speaker 1: that's what I should do, because that strategy might not fit,

543
00:28:45,360 --> 00:28:47,480
Speaker 1: and nine times out of ten it won't fit.

544
00:28:47,760 --> 00:28:50,280
Speaker 3: I wouldn't in my own personal life have a joint

545
00:28:50,480 --> 00:28:54,240
Speaker 3: account with a spouse or partner in terms of shares

546
00:28:54,760 --> 00:29:00,000
Speaker 3: because the issue is there's really no flexibility, and particularly

547
00:29:00,120 --> 00:29:03,800
Speaker 3: the state planning, I'd have to fact check myself it's

548
00:29:03,800 --> 00:29:06,040
Speaker 3: one or the other. When you set up a joint

549
00:29:06,320 --> 00:29:08,640
Speaker 3: brokerage account, you need to check with the brokerage to

550
00:29:08,680 --> 00:29:12,040
Speaker 3: work out whether by default it's tenants in common or

551
00:29:12,240 --> 00:29:15,840
Speaker 3: joint tenants. So that means if you die, you need

552
00:29:15,880 --> 00:29:19,040
Speaker 3: to just check if there is a joint share brokerage account,

553
00:29:20,120 --> 00:29:23,960
Speaker 3: whether the registry say that one half goes to the

554
00:29:24,120 --> 00:29:26,680
Speaker 3: state of the deceased or one half goes to the

555
00:29:26,720 --> 00:29:31,320
Speaker 3: surviving person automatically, So check that. The reason also why

556
00:29:31,360 --> 00:29:36,280
Speaker 3: I don't love joint share accounts. There's a philosophical side

557
00:29:36,280 --> 00:29:39,560
Speaker 3: to this which I can get to. With the lack

558
00:29:39,560 --> 00:29:44,480
Speaker 3: of flexibility. If two people have a genuine alternate risk profile,

559
00:29:45,200 --> 00:29:47,760
Speaker 3: it just gets a bit more confusing. If there is

560
00:29:47,800 --> 00:29:52,200
Speaker 3: a separation and we did need to sever the assets, well,

561
00:29:52,600 --> 00:29:58,120
Speaker 3: one sale lands on both people's tax return. There's just

562
00:29:58,280 --> 00:30:01,560
Speaker 3: less flexibility. I went into it in great detail in

563
00:30:01,960 --> 00:30:04,120
Speaker 3: the investing book that I think I was talking about

564
00:30:04,160 --> 00:30:08,320
Speaker 3: last time. I think when it comes to money in

565
00:30:08,320 --> 00:30:13,280
Speaker 3: investing your own share accounts, it's fine if there is

566
00:30:13,320 --> 00:30:17,200
Speaker 3: a broader discussion in your household. I actually put in

567
00:30:17,280 --> 00:30:19,440
Speaker 3: my Facebook group a couple of weeks ago, does anyone

568
00:30:19,440 --> 00:30:22,320
Speaker 3: want to come on the podcast and debate me on

569
00:30:22,360 --> 00:30:23,840
Speaker 3: something that they disagree with me.

570
00:30:24,440 --> 00:30:26,880
Speaker 1: I don't know what I could come on the podcast

571
00:30:26,920 --> 00:30:30,040
Speaker 1: and disagree with you from my version of me.

572
00:30:30,400 --> 00:30:36,880
Speaker 3: Yeah, and it's philosophical. In your household, do you share

573
00:30:36,960 --> 00:30:40,200
Speaker 3: money or have you got separate finances. I'm of the

574
00:30:40,280 --> 00:30:44,000
Speaker 3: personal view that the law says, if we're in a

575
00:30:44,000 --> 00:30:48,680
Speaker 3: de facto relationship over eighteen months, and whether there's one

576
00:30:48,760 --> 00:30:52,240
Speaker 3: hundred thousand dollars, ten thousand dollars, if it's in joint names,

577
00:30:52,480 --> 00:30:56,600
Speaker 3: it's either. If it's in separate accounts, it's either. However,

578
00:30:56,760 --> 00:30:59,480
Speaker 3: there is a carve out my own view is, and

579
00:30:59,480 --> 00:31:01,479
Speaker 3: this is a tea for the debate I'll have with

580
00:31:01,560 --> 00:31:05,000
Speaker 3: my awesome listener. She's coming on to debate me because

581
00:31:05,040 --> 00:31:08,320
Speaker 3: she thinks couples should keep their money separate.

582
00:31:08,480 --> 00:31:10,600
Speaker 1: And like fully separate, never together.

583
00:31:10,800 --> 00:31:14,720
Speaker 3: Yeah. I would agree on the principle, and the debate

584
00:31:15,280 --> 00:31:19,400
Speaker 3: will be that there's no current record of any DV

585
00:31:19,840 --> 00:31:20,480
Speaker 3: or anything like that.

586
00:31:20,520 --> 00:31:21,640
Speaker 1: Oh yeah, no, no, no.

587
00:31:21,720 --> 00:31:25,600
Speaker 3: However, I think is best practice if the law says

588
00:31:26,360 --> 00:31:29,880
Speaker 3: you both own everything equal, practically, I think we need

589
00:31:29,920 --> 00:31:32,960
Speaker 3: to have our own emergency funds in our own names. Okay,

590
00:31:33,800 --> 00:31:39,120
Speaker 3: about how little escape money, and that's awesome, but I'm

591
00:31:39,120 --> 00:31:40,160
Speaker 3: talking day to day.

592
00:31:40,480 --> 00:31:43,840
Speaker 1: Yes, Steve and I have our incomes come into one

593
00:31:44,320 --> 00:31:47,680
Speaker 1: account together and we share everything. Like there's never a

594
00:31:47,720 --> 00:31:51,040
Speaker 1: conversation of his pay versus my pay, Like we're always

595
00:31:51,160 --> 00:31:55,600
Speaker 1: talking how income over time that has ebbed and flowed.

596
00:31:55,640 --> 00:31:58,920
Speaker 1: There have been periods of our you know, shared life

597
00:31:59,000 --> 00:32:02,000
Speaker 1: where we've shared and he's earnt more than me, and

598
00:32:02,040 --> 00:32:04,479
Speaker 1: then years where I've earned more than him, and I

599
00:32:04,600 --> 00:32:07,280
Speaker 1: can't tell you when that's happened because it comes into

600
00:32:07,280 --> 00:32:09,200
Speaker 1: the one account and then we deal with life. But

601
00:32:09,320 --> 00:32:12,320
Speaker 1: we have always had our own spending accounts, We've always

602
00:32:12,400 --> 00:32:16,280
Speaker 1: had our own savings, like to the side, so that

603
00:32:16,280 --> 00:32:18,920
Speaker 1: that is kind of like a form of protection because

604
00:32:18,920 --> 00:32:22,120
Speaker 1: we know that fifty percent of marriages ended divorce, right,

605
00:32:22,520 --> 00:32:25,480
Speaker 1: So even though it's not very sexy and not very

606
00:32:25,560 --> 00:32:27,560
Speaker 1: very valanty and we don't want it, Yeah, we don't

607
00:32:27,600 --> 00:32:29,840
Speaker 1: want to talk about it, like we actually have to

608
00:32:29,880 --> 00:32:34,440
Speaker 1: have these conversations because fifty percent of marriages end in divorce.

609
00:32:34,760 --> 00:32:37,120
Speaker 1: The other fifty percent, Glenn, end in death, which is

610
00:32:37,120 --> 00:32:39,560
Speaker 1: why we need to talk about binding financial agreements. And

611
00:32:39,560 --> 00:32:41,280
Speaker 1: then on the flip side, we need to talk about

612
00:32:41,280 --> 00:32:43,800
Speaker 1: a state planning. So if you're not talking about either

613
00:32:43,840 --> 00:32:47,440
Speaker 1: of those. You're going to at some point, irrespective of

614
00:32:47,440 --> 00:32:51,520
Speaker 1: whether your relationship is successful or it doesn't work out,

615
00:32:51,880 --> 00:32:54,120
Speaker 1: you're going to have issues if you don't have that

616
00:32:54,200 --> 00:32:55,440
Speaker 1: documentation in place.

617
00:32:55,680 --> 00:32:58,280
Speaker 3: I totally agree, And this is where you know nuance

618
00:32:58,440 --> 00:33:00,600
Speaker 3: is the first casualty of a face bok comment.

619
00:33:01,160 --> 00:33:04,400
Speaker 1: But you didn't take the whole situation into consideration, and

620
00:33:04,440 --> 00:33:06,360
Speaker 1: it would have been much bigger than the Facebook comment

621
00:33:06,400 --> 00:33:06,960
Speaker 1: would have allowed it.

622
00:33:07,000 --> 00:33:08,480
Speaker 3: Yeah, and that's why I want to unpack it with

623
00:33:08,480 --> 00:33:11,920
Speaker 3: my listener when she debates me on it, because I think, yeah,

624
00:33:12,040 --> 00:33:15,320
Speaker 3: business as usual day to day, we need to make

625
00:33:15,400 --> 00:33:19,280
Speaker 3: the view. Are we married or are we de facto?

626
00:33:19,720 --> 00:33:21,080
Speaker 3: Are we doing life together?

627
00:33:21,480 --> 00:33:21,680
Speaker 2: Yeah?

628
00:33:21,960 --> 00:33:24,840
Speaker 3: If the answer is yes, This why I'm getting someone

629
00:33:24,880 --> 00:33:27,480
Speaker 3: on to debate me. I'm sleeping just as well tonight.

630
00:33:27,520 --> 00:33:30,800
Speaker 3: If people disagree with me, awesome, I might learn something.

631
00:33:31,240 --> 00:33:34,320
Speaker 3: They can disagree with me and sleep just as well. Awesome.

632
00:33:34,360 --> 00:33:37,200
Speaker 3: We can all get along. I just like debating these ideas.

633
00:33:37,640 --> 00:33:41,160
Speaker 3: So I think the debate is if we agree that

634
00:33:41,240 --> 00:33:44,520
Speaker 3: we're doing this as a team together, the business as

635
00:33:44,600 --> 00:33:48,840
Speaker 3: usual rent, electricity bill, groceries, whatever, who cares. Let's have

636
00:33:48,880 --> 00:33:52,400
Speaker 3: a joint account let's have our own individual splurge little

637
00:33:52,440 --> 00:33:55,600
Speaker 3: fund money accounts. Awesome, but I think one hundred percent

638
00:33:55,600 --> 00:33:58,480
Speaker 3: we need our own emergency savings in our own account.

639
00:33:58,840 --> 00:34:01,600
Speaker 3: But back to the share question, and it's just a

640
00:34:01,640 --> 00:34:04,160
Speaker 3: little bit more nuanced and annoying to have a joint

641
00:34:04,160 --> 00:34:08,320
Speaker 3: brokerage account. Yeah, joint property, it's easy. There's one asset,

642
00:34:08,480 --> 00:34:10,680
Speaker 3: we're selling it or not, yes or no. It just

643
00:34:10,719 --> 00:34:13,160
Speaker 3: can be a bit more complex. So I'm not a

644
00:34:13,160 --> 00:34:17,360
Speaker 3: fan of joint investing accounts. The trust layer basically says

645
00:34:17,400 --> 00:34:20,440
Speaker 3: the trust owns the account and the income can be

646
00:34:20,520 --> 00:34:23,520
Speaker 3: distributed each year to wherever it needs the land. That's

647
00:34:23,560 --> 00:34:25,319
Speaker 3: all good, But I think we're on the same page there.

648
00:34:25,440 --> 00:34:28,240
Speaker 1: I agree, and I think it's one of those things.

649
00:34:28,400 --> 00:34:30,719
Speaker 1: When I was a financial advisor, it was definitely a

650
00:34:30,760 --> 00:34:34,200
Speaker 1: school of not owning joint assets and setting up maybe

651
00:34:34,200 --> 00:34:37,200
Speaker 1: two share portfolios, even though we had a little bit

652
00:34:37,200 --> 00:34:39,799
Speaker 1: more brokerage. It would mean that there was structure. If

653
00:34:39,880 --> 00:34:42,040
Speaker 1: someone wantly, we didn't actually have to sell our sets.

654
00:34:42,160 --> 00:34:44,359
Speaker 1: You kind of just went your own way. And I'm

655
00:34:44,480 --> 00:34:47,520
Speaker 1: very much a risk averse person as much as I'm

656
00:34:47,560 --> 00:34:50,319
Speaker 1: like I would say, a very high risk investor. I'm

657
00:34:50,480 --> 00:34:52,600
Speaker 1: very risk averse because I just don't want there to

658
00:34:52,640 --> 00:34:56,120
Speaker 1: be negative impact on people, and like you see it

659
00:34:56,200 --> 00:34:58,840
Speaker 1: in lots of situations where they're like we had to

660
00:34:58,880 --> 00:35:00,880
Speaker 1: sell the house because the other person couldn't afford to

661
00:35:00,880 --> 00:35:03,680
Speaker 1: buy out, and so therefore we both lost. Like I

662
00:35:03,840 --> 00:35:07,640
Speaker 1: just want there to be amicability where possible.

663
00:35:07,760 --> 00:35:10,000
Speaker 3: And that's the thing, like if you hear all this

664
00:35:10,040 --> 00:35:13,600
Speaker 3: stuff and you have separate finances and live together and

665
00:35:13,840 --> 00:35:14,920
Speaker 3: I pay for rent.

666
00:35:14,760 --> 00:35:18,040
Speaker 1: Because there's actually no one size fits all, do it. Yeah,

667
00:35:18,280 --> 00:35:19,160
Speaker 1: we're talking about Glenn.

668
00:35:19,200 --> 00:35:20,719
Speaker 3: I'm not going to do it. And this is just

669
00:35:20,880 --> 00:35:22,959
Speaker 3: my view, and it's worth what everyone.

670
00:35:22,640 --> 00:35:26,959
Speaker 1: Paid for it, yeah, which is millions trillions even. All right, Glenn,

671
00:35:27,040 --> 00:35:29,440
Speaker 1: let's go to a really quick break because this has

672
00:35:29,440 --> 00:35:31,960
Speaker 1: been good, but I really want to pivot into talking

673
00:35:31,960 --> 00:35:35,600
Speaker 1: about Chemist Warehouse and what's going on there, so guys

674
00:35:35,680 --> 00:35:42,440
Speaker 1: don't go anywhere. All right, Glenn, we are back, and

675
00:35:42,640 --> 00:35:44,680
Speaker 1: I feel like we've been having a very good conversation

676
00:35:44,960 --> 00:35:50,040
Speaker 1: about investing and philosophy and sharing money and sharing assets,

677
00:35:50,120 --> 00:35:52,360
Speaker 1: and it's been I think a lot of fun. We

678
00:35:52,440 --> 00:35:54,600
Speaker 1: haven't answered that many questions, so you're going to have

679
00:35:54,640 --> 00:35:58,200
Speaker 1: to come back again. I'm sorry, but we did have

680
00:35:58,239 --> 00:36:02,120
Speaker 1: a community member ask us about Chemist Warehouse, especially with

681
00:36:02,239 --> 00:36:05,040
Speaker 1: all of the hype that has been surrounding that business

682
00:36:05,080 --> 00:36:08,239
Speaker 1: at the moment. Obviously, we can't say whether someone should

683
00:36:08,320 --> 00:36:10,960
Speaker 1: invest in it or not, but I want to know

684
00:36:11,040 --> 00:36:13,440
Speaker 1: from your perspective, Glenn, what makes a company like this

685
00:36:13,680 --> 00:36:16,880
Speaker 1: interesting from an investment opportunity perspective.

686
00:36:17,160 --> 00:36:21,800
Speaker 3: Yeah, so most people would own Chemist Warehouse now because

687
00:36:21,840 --> 00:36:26,600
Speaker 3: Sigma Healthcare basically hate them, et them, which was interesting

688
00:36:26,640 --> 00:36:28,880
Speaker 3: because Chemists Warehouse was the bigger.

689
00:36:28,680 --> 00:36:30,200
Speaker 1: Company tried to eat them.

690
00:36:30,320 --> 00:36:33,160
Speaker 3: Yeah, but Sigma they do a lot of over the

691
00:36:33,200 --> 00:36:38,800
Speaker 3: counter medications, medical supplies. They own like Amcow, Guardian Pharmacy,

692
00:36:38,840 --> 00:36:39,480
Speaker 3: Distant Drugs.

693
00:36:39,560 --> 00:36:41,560
Speaker 1: They are a relatively big dog, but you don't know

694
00:36:41,600 --> 00:36:43,760
Speaker 1: who they are because they are not called Amcow.

695
00:36:44,080 --> 00:36:47,560
Speaker 3: That's right. So basically Chemists ware House, and I think

696
00:36:47,560 --> 00:36:50,880
Speaker 3: it's just important before we talk about the investing opportunity

697
00:36:51,239 --> 00:36:54,280
Speaker 3: is just to step back. You know, they were valued

698
00:36:54,280 --> 00:36:56,520
Speaker 3: at about ten billion Australian before the.

699
00:36:56,520 --> 00:36:58,760
Speaker 1: Merger, just a few dollars where.

700
00:36:58,600 --> 00:37:02,440
Speaker 3: Sigma was worth about a one hundred million, so ten times.

701
00:37:03,400 --> 00:37:06,160
Speaker 3: It's an interesting world. In the pharmacy world. We know

702
00:37:06,280 --> 00:37:11,800
Speaker 3: that Woolworths can't open a pharmacy. Coles can't open a

703
00:37:11,840 --> 00:37:15,680
Speaker 3: pharmacy within the stores, which I think is good. But

704
00:37:16,400 --> 00:37:19,440
Speaker 3: Chemists ware House, like, you go in there, you can

705
00:37:19,480 --> 00:37:23,160
Speaker 3: buy literally everything but fresh produce. It's like full on,

706
00:37:23,320 --> 00:37:24,440
Speaker 3: like the Priceline and all that.

707
00:37:24,480 --> 00:37:26,839
Speaker 1: So do you have the little fridges for your probiotics

708
00:37:27,080 --> 00:37:28,160
Speaker 1: so that they're getting close?

709
00:37:28,320 --> 00:37:31,319
Speaker 3: Yeah, So I'm not really saying much here other than

710
00:37:31,880 --> 00:37:37,200
Speaker 3: Chemists Warehouse, it's a retail store. They do chemistry things.

711
00:37:37,040 --> 00:37:38,400
Speaker 1: Like they do chemistry things.

712
00:37:38,440 --> 00:37:40,880
Speaker 3: But the investing thing, I think what we need to

713
00:37:41,000 --> 00:37:44,560
Speaker 3: look at, and I don't play in the weeds of

714
00:37:44,600 --> 00:37:49,000
Speaker 3: individual stocks. I would say, if you do the investing

715
00:37:49,080 --> 00:37:53,960
Speaker 3: master class, you will talk conceptually about individual stocks. You'll

716
00:37:54,480 --> 00:37:58,520
Speaker 3: learn potentially how to value individual stocks. There are a

717
00:37:58,600 --> 00:38:02,160
Speaker 3: lot of free websites that will give a rating to

718
00:38:02,239 --> 00:38:05,560
Speaker 3: individual companies, whether they think they're overvalued and they're rationale,

719
00:38:05,600 --> 00:38:08,239
Speaker 3: whether they're worth a buy or not. But I will say,

720
00:38:09,320 --> 00:38:10,799
Speaker 3: and this is just what I do. I don't have

721
00:38:10,840 --> 00:38:15,239
Speaker 3: more than ten percent of my equity portfolio in individual

722
00:38:15,280 --> 00:38:20,000
Speaker 3: stocks because I want to buy the market. I don't

723
00:38:20,040 --> 00:38:23,040
Speaker 3: want to try and pick winners. But if you are

724
00:38:23,200 --> 00:38:25,719
Speaker 3: interested in the story, you look into it, you might

725
00:38:25,719 --> 00:38:28,400
Speaker 3: shop there, and just because you shop there, it doesn't

726
00:38:28,440 --> 00:38:31,560
Speaker 3: mean it's a good investment. I mean there's a bank

727
00:38:31,600 --> 00:38:34,279
Speaker 3: that I bank with where it's actually a dog of

728
00:38:34,320 --> 00:38:36,799
Speaker 3: a bank compared to the one down the road. As

729
00:38:36,800 --> 00:38:38,919
Speaker 3: an investment, so I buy shares in the one down

730
00:38:38,960 --> 00:38:41,680
Speaker 3: the road and I bank with the other one. So

731
00:38:41,800 --> 00:38:44,960
Speaker 3: we have to disconnect that. But if you're like, I

732
00:38:45,040 --> 00:38:49,080
Speaker 3: love this story, I want to buy into Sigma. The

733
00:38:49,160 --> 00:38:51,960
Speaker 3: chemist thing, it's a very interesting sector when you look

734
00:38:52,000 --> 00:38:55,200
Speaker 3: at it, and if you've met any small businesses. Most

735
00:38:55,200 --> 00:38:59,399
Speaker 3: pharmacies are small business owners and licensees and whatnot. It's

736
00:38:59,440 --> 00:39:04,560
Speaker 3: an interesting industry and they are a genuine disruptor. Like

737
00:39:04,680 --> 00:39:07,480
Speaker 3: medication that I takes like half price from chemists ware house.

738
00:39:07,520 --> 00:39:10,480
Speaker 1: It's actually a really solid business.

739
00:39:10,840 --> 00:39:13,560
Speaker 3: Yeah, but they've just taken the view we'll obviously get

740
00:39:13,600 --> 00:39:17,080
Speaker 3: scale by buying the medications, probably not making much on them,

741
00:39:17,320 --> 00:39:22,160
Speaker 3: but will sell the other vitamins, makeup deodorants. Yeah, I

742
00:39:22,239 --> 00:39:24,759
Speaker 3: get my goat soap there, all that stuff. So the

743
00:39:24,800 --> 00:39:27,960
Speaker 3: investment question is you'll find so much information online. It's

744
00:39:27,960 --> 00:39:28,720
Speaker 3: a list company.

745
00:39:28,760 --> 00:39:33,000
Speaker 1: Do them research, yeah, because it's also probably in the ETFs.

746
00:39:33,040 --> 00:39:34,440
Speaker 1: You're already purchasing.

747
00:39:34,080 --> 00:39:36,920
Speaker 3: Right and it's in your super already, you will have exposure.

748
00:39:37,200 --> 00:39:39,640
Speaker 1: I think it's interesting because a lot of you are

749
00:39:39,640 --> 00:39:42,880
Speaker 1: already going to own Sigma, and you might not have

750
00:39:42,920 --> 00:39:45,800
Speaker 1: paid any attention to Sigma until now, and you're hearing

751
00:39:45,800 --> 00:39:48,440
Speaker 1: a name like chemists Warehouse and you're going, hold on,

752
00:39:48,480 --> 00:39:51,040
Speaker 1: what does that mean? That's a really cool acquisition. And

753
00:39:51,800 --> 00:39:57,040
Speaker 1: the whole purpose of the chemist Warehouse like framework working

754
00:39:57,160 --> 00:40:01,680
Speaker 1: is because it's low cost, high volume. Why everybody I

755
00:40:01,760 --> 00:40:04,560
Speaker 1: know goes down to chemist Warehouse because their medications are

756
00:40:04,640 --> 00:40:08,160
Speaker 1: genuinely cheaper, So you've got people hook line and sinker.

757
00:40:08,520 --> 00:40:11,799
Speaker 1: I'm always buying additional things at chemist Warehouse because I'm

758
00:40:11,840 --> 00:40:14,879
Speaker 1: roaming around the shop. I'm looking around, going what's going

759
00:40:14,880 --> 00:40:17,320
Speaker 1: on while I'm waiting for my buzzer for my antidepressants.

760
00:40:17,360 --> 00:40:19,600
Speaker 3: You know, it is like I do feel it for

761
00:40:19,640 --> 00:40:23,719
Speaker 3: the other self employed small business owners with their community pharmacy.

762
00:40:23,760 --> 00:40:27,360
Speaker 3: That might be another franchise where they literally can't do

763
00:40:27,440 --> 00:40:28,640
Speaker 3: the medication for that cheap.

764
00:40:28,719 --> 00:40:30,799
Speaker 1: And I get that, but I also think that we're

765
00:40:30,800 --> 00:40:35,600
Speaker 1: talking from an investment perspective, and you know, Chemist Warehouse

766
00:40:35,640 --> 00:40:37,479
Speaker 1: does franchise out so there are a lot of small

767
00:40:37,520 --> 00:40:41,200
Speaker 1: business owners who own Chemist Warehouse locations, which is very cool.

768
00:40:41,560 --> 00:40:46,640
Speaker 1: And Chemist Warehouse shareholders now own about eighty five percent

769
00:40:46,680 --> 00:40:49,840
Speaker 1: of the new company, which means that they are majority owners,

770
00:40:49,880 --> 00:40:54,440
Speaker 1: which is kind of attractive, and there's an expectation in

771
00:40:54,480 --> 00:40:57,880
Speaker 1: the market that it's going to then attract and this

772
00:40:57,920 --> 00:41:00,279
Speaker 1: is why it's being talked about a lot attractive, very

773
00:41:00,320 --> 00:41:03,840
Speaker 1: strong investor interest, because people are like, this was a

774
00:41:03,880 --> 00:41:07,200
Speaker 1: privately listed company that we all thought was successful beforehand.

775
00:41:07,280 --> 00:41:10,520
Speaker 1: Now it's got in public because it is very dominant

776
00:41:10,680 --> 00:41:12,440
Speaker 1: in it the pharmaceuticals.

777
00:41:12,760 --> 00:41:16,000
Speaker 3: Every day, a ten billion doll a whale it's private

778
00:41:16,320 --> 00:41:17,319
Speaker 3: gets listed.

779
00:41:17,080 --> 00:41:19,920
Speaker 1: One hundred percent. Like if you've gotten to being that

780
00:41:20,120 --> 00:41:23,760
Speaker 1: size and you have made the conscious decision to list,

781
00:41:24,239 --> 00:41:27,719
Speaker 1: that decision would have been made because there is significant upside.

782
00:41:27,960 --> 00:41:31,560
Speaker 1: They can clearly afford to scale, They can clearly afford

783
00:41:31,600 --> 00:41:34,560
Speaker 1: to even go down to the bank. Because even companies

784
00:41:34,560 --> 00:41:36,320
Speaker 1: like Chemist Warehouse might go down to the bank and

785
00:41:36,360 --> 00:41:39,080
Speaker 1: get a loan to grow their business. They have the

786
00:41:39,400 --> 00:41:42,279
Speaker 1: backing to be able to do that. But when you

787
00:41:42,480 --> 00:41:46,680
Speaker 1: list as a company, it puts significant responsibility back onto

788
00:41:46,719 --> 00:41:49,800
Speaker 1: you as the organization. Do you have a proper board

789
00:41:49,880 --> 00:41:52,799
Speaker 1: which you didn't have an obligation to have before, have

790
00:41:52,960 --> 00:41:57,040
Speaker 1: proper governance, and actually report to shareholders. So there must

791
00:41:57,200 --> 00:42:01,279
Speaker 1: need to be some very significant upside for what was

792
00:42:01,400 --> 00:42:04,560
Speaker 1: privately owned company to list. Yeah, and I think that's

793
00:42:04,600 --> 00:42:05,320
Speaker 1: so excited.

794
00:42:05,400 --> 00:42:08,040
Speaker 3: It's a good liquidity event for the private owners.

795
00:42:08,080 --> 00:42:11,880
Speaker 1: Anyway, they might have said, I just want some cash

796
00:42:11,920 --> 00:42:13,560
Speaker 1: out and the only way I'm getting up.

797
00:42:13,719 --> 00:42:15,640
Speaker 3: Exactly a Melbourne story to start with.

798
00:42:15,840 --> 00:42:19,000
Speaker 1: Yeah, I believe. So all right, let's move off chemist

799
00:42:19,080 --> 00:42:21,560
Speaker 1: warehouse because I know I'm running out of time with you.

800
00:42:21,640 --> 00:42:24,960
Speaker 1: But we also promised that we would talk about tech ETFs,

801
00:42:25,040 --> 00:42:28,000
Speaker 1: and we had a community member ask about investing in

802
00:42:28,000 --> 00:42:30,680
Speaker 1: a tech ETF, but they weren't sure where to start

803
00:42:30,719 --> 00:42:34,279
Speaker 1: because there are so many options out there, Glenn, what

804
00:42:34,360 --> 00:42:36,640
Speaker 1: should we be looking for if we are looking for

805
00:42:36,760 --> 00:42:40,800
Speaker 1: a tech ETF specifically, there are so many options out there.

806
00:42:41,200 --> 00:42:44,440
Speaker 1: I'm going shopping. I've made my decision, I have my product,

807
00:42:44,600 --> 00:42:47,320
Speaker 1: I know what platform I'm investing on, but I looked

808
00:42:47,400 --> 00:42:50,120
Speaker 1: up on I don't know cheress. I typed in tech ETF.

809
00:42:50,440 --> 00:42:52,640
Speaker 1: Heaps of options came up. How am I picking?

810
00:42:53,360 --> 00:42:54,960
Speaker 3: I don't even know if I know the answer that.

811
00:42:55,400 --> 00:42:58,560
Speaker 3: For me, it goes back to why do you want

812
00:42:58,600 --> 00:43:03,200
Speaker 3: a tech etf to start with? Because sometimes it sounds shiny. Yeah,

813
00:43:03,200 --> 00:43:07,200
Speaker 3: we asked these questions. I personally don't own a tech etf.

814
00:43:08,000 --> 00:43:10,480
Speaker 3: Peel Back, the Young had a little bit the S

815
00:43:10,520 --> 00:43:14,319
Speaker 3: and P five hundred. There's a huge tech waiting. You

816
00:43:14,320 --> 00:43:19,359
Speaker 3: look at Nvideo, Microsoft, Apple, All these companies have such

817
00:43:19,400 --> 00:43:20,120
Speaker 3: big waiting.

818
00:43:20,360 --> 00:43:22,600
Speaker 1: Yeah, we're talking about in a video on the podcast

819
00:43:22,680 --> 00:43:26,120
Speaker 1: the other day. I think you don't realize how significant

820
00:43:26,160 --> 00:43:28,799
Speaker 1: it is because they hold such dominance.

821
00:43:29,680 --> 00:43:34,400
Speaker 3: All these big tech companies your Google's, Tesla's, Borderline Tech.

822
00:43:34,680 --> 00:43:36,359
Speaker 3: I've got enough exposure to them.

823
00:43:36,560 --> 00:43:37,640
Speaker 1: We've got tech at home.

824
00:43:38,239 --> 00:43:41,640
Speaker 3: Yeah, like I know, I can't go to bed without tech.

825
00:43:42,080 --> 00:43:44,760
Speaker 3: My mum was saying that today she bought an earth

826
00:43:45,239 --> 00:43:48,319
Speaker 3: sheet where they plug into the wall, it connects to

827
00:43:48,360 --> 00:43:50,960
Speaker 3: the earth of the PowerPoint and you lay under it.

828
00:43:51,000 --> 00:43:54,360
Speaker 1: So anyway, Mum's gone to Lulu tech everywhere.

829
00:43:54,360 --> 00:43:54,960
Speaker 3: Am I right?

830
00:43:57,239 --> 00:43:59,279
Speaker 1: I'm going to be like, excuse me, but what are

831
00:43:59,280 --> 00:44:00,360
Speaker 1: you talking about?

832
00:44:00,560 --> 00:44:01,120
Speaker 3: Earth sheet?

833
00:44:01,360 --> 00:44:04,399
Speaker 1: But sounds like you got scammed from a tisktok video.

834
00:44:05,320 --> 00:44:07,759
Speaker 3: Yeah. So if you do want tech exposure, the good

835
00:44:07,840 --> 00:44:10,120
Speaker 3: thing is most of them will be an index, a

836
00:44:10,160 --> 00:44:13,080
Speaker 3: lot of them will be a Nasdaq index. A lot

837
00:44:13,160 --> 00:44:15,799
Speaker 3: of them will be listed in the US, because most

838
00:44:15,800 --> 00:44:18,759
Speaker 3: of the big tech plays are in the US. And

839
00:44:19,280 --> 00:44:21,440
Speaker 3: if we tie back to the question on fees, you

840
00:44:21,480 --> 00:44:24,799
Speaker 3: could take the view that, Okay, there's three tech ETFs

841
00:44:24,960 --> 00:44:26,359
Speaker 3: and I don't even know because I don't look at

842
00:44:26,360 --> 00:44:28,520
Speaker 3: this stuff enough. I'll make examples up. There's one from

843
00:44:28,520 --> 00:44:30,200
Speaker 3: black Rock, there might be one from Beata Shares. That

844
00:44:30,239 --> 00:44:32,080
Speaker 3: might be one from global X, there might be one

845
00:44:32,080 --> 00:44:34,640
Speaker 3: from State Street. They all have the same tracking on

846
00:44:34,680 --> 00:44:37,480
Speaker 3: the index. You might just go, I want tech exposure.

847
00:44:37,560 --> 00:44:39,480
Speaker 3: I can see the index. I'm just going to go

848
00:44:39,520 --> 00:44:43,160
Speaker 3: the cheapest. But having said that, the cheapest might be

849
00:44:44,080 --> 00:44:47,200
Speaker 3: only a whisker away from the next one up. So again,

850
00:44:48,040 --> 00:44:51,600
Speaker 3: I don't know the answer. Make sure if you want

851
00:44:51,640 --> 00:44:55,400
Speaker 3: some exposure, maybe you see it as a satellite in

852
00:44:55,440 --> 00:44:57,919
Speaker 3: your portfolio. So you might say, Okay, I do want

853
00:44:57,960 --> 00:45:00,440
Speaker 3: some extra tech exposure, but I'm not going to put

854
00:45:00,480 --> 00:45:04,880
Speaker 3: more than ten percent of my portfolio into that because

855
00:45:04,920 --> 00:45:08,040
Speaker 3: you will have overlap. You look at anyone who invested

856
00:45:08,040 --> 00:45:11,520
Speaker 3: in the spaceship app. They got a real lesson about

857
00:45:11,719 --> 00:45:17,839
Speaker 3: diversification and what a single sector tech investment will do

858
00:45:18,480 --> 00:45:19,719
Speaker 3: when the going isn't good.

859
00:45:20,040 --> 00:45:23,000
Speaker 1: Yeah, and tech right now is doing really well, Like

860
00:45:23,000 --> 00:45:26,360
Speaker 1: we're seeing returns of twenty even thirty percent in tech ETF.

861
00:45:26,440 --> 00:45:29,080
Speaker 1: So I feel like that is potentially what is driving

862
00:45:29,560 --> 00:45:32,919
Speaker 1: the interest and the need for a tech ETF because

863
00:45:32,920 --> 00:45:35,719
Speaker 1: you go, the returns are incredible, but that is fleeting.

864
00:45:35,840 --> 00:45:37,640
Speaker 1: Like I always say on the pod, when in doubt,

865
00:45:37,719 --> 00:45:39,719
Speaker 1: zoom out, and when you're not sure about something like,

866
00:45:39,760 --> 00:45:42,680
Speaker 1: let's look at the bigger picture, what's their long term strategy? Like,

867
00:45:42,800 --> 00:45:45,239
Speaker 1: what is your strategy purchasing this ETF You're going to

868
00:45:45,280 --> 00:45:47,440
Speaker 1: be holding it for a long period of time or

869
00:45:47,480 --> 00:45:49,440
Speaker 1: are you going to just like make hey, well the

870
00:45:49,480 --> 00:45:53,600
Speaker 1: sun shining, which I wouldn't recommend, but I would be

871
00:45:54,080 --> 00:45:58,200
Speaker 1: stepping back and picking the research house or the share

872
00:45:58,280 --> 00:46:01,160
Speaker 1: trading platform first. So you mentioned before like Beta shares

873
00:46:01,239 --> 00:46:04,400
Speaker 1: or Vanguard. I'd work out which one of those businesses

874
00:46:04,800 --> 00:46:09,120
Speaker 1: aligns to your values. You might go really love a Vanguard. Fantastic, Glenn,

875
00:46:09,160 --> 00:46:11,680
Speaker 1: I'm so happy for you. Yeah, you like the color

876
00:46:11,760 --> 00:46:14,839
Speaker 1: red cool, Well, let's actually hone it down and then

877
00:46:14,920 --> 00:46:17,880
Speaker 1: just look at their offerings as opposed to every single

878
00:46:17,920 --> 00:46:20,759
Speaker 1: offering on the market, or you might be purchasing a

879
00:46:20,800 --> 00:46:25,359
Speaker 1: tech ETF because obviously purchasing direct shares of an international

880
00:46:25,360 --> 00:46:28,840
Speaker 1: asset is not actually the best idea. Like most people

881
00:46:29,200 --> 00:46:31,800
Speaker 1: aren't going to go by direct shares in Apple because

882
00:46:31,800 --> 00:46:34,560
Speaker 1: there's currency issues, there's a lot of things going on.

883
00:46:35,160 --> 00:46:37,719
Speaker 1: You might want to pick an ETF, but you might

884
00:46:37,760 --> 00:46:40,080
Speaker 1: be looking for a specific waiting so that you can

885
00:46:40,080 --> 00:46:42,480
Speaker 1: say or you can own Apple. I would be looking

886
00:46:42,520 --> 00:46:45,480
Speaker 1: at it that way. There's no best ETF. But I

887
00:46:45,520 --> 00:46:47,800
Speaker 1: could sit down and write a whole blog post or

888
00:46:47,840 --> 00:46:50,560
Speaker 1: to a whole podcast on it, Glenn of like, what

889
00:46:50,600 --> 00:46:53,520
Speaker 1: were the best performing tech ETFs in twenty twenty four.

890
00:46:53,560 --> 00:46:56,680
Speaker 1: But past performance is not a reliable predictor of future performance,

891
00:46:56,680 --> 00:46:59,359
Speaker 1: and therefore it would just be a conversation to have

892
00:46:59,440 --> 00:47:00,920
Speaker 1: to see what happened historically.

893
00:47:01,000 --> 00:47:03,439
Speaker 3: Yeah, and I think it's interesting. Nevertheless, I mean, if

894
00:47:03,440 --> 00:47:06,439
Speaker 3: someone is on the train or going for a walk,

895
00:47:06,520 --> 00:47:10,280
Speaker 3: just pull up Google Now and search Intel share price,

896
00:47:10,680 --> 00:47:15,080
Speaker 3: and just in the top Google chart, click maximum and

897
00:47:15,080 --> 00:47:18,480
Speaker 3: so you'll see in the early two thousands, Intel did

898
00:47:18,520 --> 00:47:21,640
Speaker 3: a lot as and videos kind of currently doing and

899
00:47:21,680 --> 00:47:24,600
Speaker 3: then you'll see it kind of come off. So yeah,

900
00:47:24,600 --> 00:47:28,520
Speaker 3: I don't have huge overexposure to the tech ETFs.

901
00:47:28,680 --> 00:47:30,560
Speaker 1: I feel like this has been fun chat. One last

902
00:47:30,640 --> 00:47:33,959
Speaker 1: question though, I want to know, Glenn, what is one

903
00:47:34,120 --> 00:47:36,520
Speaker 1: investing myth that is currently driving you mad?

904
00:47:37,000 --> 00:47:37,200
Speaker 3: Oh.

905
00:47:37,960 --> 00:47:41,360
Speaker 1: I don't know about you, but I am a tragic

906
00:47:41,400 --> 00:47:44,000
Speaker 1: on TikTok. Like most of my screen time is spent

907
00:47:44,080 --> 00:47:46,520
Speaker 1: on TikTok. And I'll say that, but like, I'm not

908
00:47:46,560 --> 00:47:49,040
Speaker 1: proud of it. I'm just sharing. And the amount of

909
00:47:49,080 --> 00:47:52,400
Speaker 1: investing content I see that, I'm like that is terrible

910
00:47:52,400 --> 00:47:54,120
Speaker 1: with advice and I have to scroll on because I'm

911
00:47:54,120 --> 00:47:58,239
Speaker 1: not going to get in DM comment arguments. But what's

912
00:47:58,280 --> 00:48:00,120
Speaker 1: been annoying Glennie James Race.

913
00:48:00,800 --> 00:48:06,240
Speaker 3: Gosh, I'll just give caution to any type of things

914
00:48:06,440 --> 00:48:09,440
Speaker 3: that you know people are like sell the farm, go

915
00:48:09,480 --> 00:48:13,640
Speaker 3: all in on crypto or bitcoin or get rich asap

916
00:48:13,680 --> 00:48:17,160
Speaker 3: type stuff. Yeah, I think that's probably what annoys me.

917
00:48:17,760 --> 00:48:21,279
Speaker 3: If something worked for one person, it doesn't mean it's

918
00:48:21,280 --> 00:48:23,080
Speaker 3: going to work again, and we can all fall into

919
00:48:23,120 --> 00:48:26,279
Speaker 3: this trap. I picked a winner here doesn't mean I

920
00:48:26,280 --> 00:48:29,279
Speaker 3: can do it again. And if someone's on TikTok going,

921
00:48:29,640 --> 00:48:31,640
Speaker 3: you need to put all your money to bitcoin if

922
00:48:31,640 --> 00:48:34,439
Speaker 3: you want to build your financial future. Absolutely not, Nah,

923
00:48:34,680 --> 00:48:36,560
Speaker 3: maybe have a small allocation here.

924
00:48:36,640 --> 00:48:40,400
Speaker 1: We're not saying it's terrible, but there seems to acentration.

925
00:48:40,480 --> 00:48:44,719
Speaker 3: Less is more. You don't have to over engineer you're

926
00:48:44,800 --> 00:48:49,799
Speaker 3: investing portfolio. You'll make more money from your job and

927
00:48:49,840 --> 00:48:52,640
Speaker 3: your career than you're investing account at the moment, So

928
00:48:52,800 --> 00:48:55,800
Speaker 3: focus on what makes more money in your life and

929
00:48:55,880 --> 00:48:57,280
Speaker 3: you'll be all GTG.

930
00:48:57,760 --> 00:49:00,800
Speaker 1: I like that. We did get a few questions through, actually,

931
00:49:00,840 --> 00:49:03,040
Speaker 1: Glenn that we covered in our last Q and A

932
00:49:03,160 --> 00:49:06,440
Speaker 1: with you, So if you're wondering about things I mentioned earlier,

933
00:49:06,560 --> 00:49:09,400
Speaker 1: So if you've been thinking about chests sponsorship, or investing

934
00:49:09,400 --> 00:49:13,480
Speaker 1: in international markets, or graduating from micro investing platforms to

935
00:49:13,640 --> 00:49:16,160
Speaker 1: big boy platforms, or even we spoke about investing for

936
00:49:16,280 --> 00:49:18,319
Speaker 1: kids last time. I'm going to make sure that that

937
00:49:18,440 --> 00:49:20,400
Speaker 1: episode is linked in the show notes so you can

938
00:49:20,480 --> 00:49:23,640
Speaker 1: check that out and get more Glenny James content. Glenn

939
00:49:23,719 --> 00:49:26,560
Speaker 1: as always, what a pleasure. I'm so grateful to have

940
00:49:26,680 --> 00:49:28,080
Speaker 1: you in my brand new studio.

941
00:49:28,160 --> 00:49:30,280
Speaker 3: I love it, and it feels like a better conversation

942
00:49:30,440 --> 00:49:31,880
Speaker 3: than sitting at that desk.

943
00:49:32,040 --> 00:49:34,000
Speaker 1: I know, I love it. I feel like it's a

944
00:49:34,000 --> 00:49:36,919
Speaker 1: lot more relaxed. I feel more relaxed, like I don't

945
00:49:37,040 --> 00:49:39,360
Speaker 1: leave the studio feeling exhausted anymore.

946
00:49:39,400 --> 00:49:41,359
Speaker 3: This is we're just having a chat. We're not doing

947
00:49:41,360 --> 00:49:43,080
Speaker 3: a podcast. I think that's the difference.

948
00:49:43,160 --> 00:49:45,560
Speaker 1: Yeah, that's much better. All right, Well, thank you for

949
00:49:45,560 --> 00:49:48,200
Speaker 1: your wisdom. For anyone who wants to hear more from

950
00:49:48,360 --> 00:49:51,280
Speaker 1: the Glenn James himself, where can we find you?

951
00:49:51,280 --> 00:49:54,359
Speaker 3: You can search money, money money wherever you're listening to this.

952
00:49:54,880 --> 00:49:57,640
Speaker 3: And I've got to get Von to do MLM episode

953
00:49:57,680 --> 00:49:58,000
Speaker 3: for Mike.

954
00:49:58,160 --> 00:50:00,600
Speaker 1: I cannot wait. We've been talking about this because so long.

955
00:50:00,640 --> 00:50:03,000
Speaker 1: And if you guys think I'm over multi level marketing,

956
00:50:03,040 --> 00:50:04,480
Speaker 1: you're wrong. I just haven't had time.

957
00:50:04,800 --> 00:50:06,040
Speaker 3: We need to get you on my show.

958
00:50:06,040 --> 00:50:08,560
Speaker 1: I'm excited. All right, we are done. But if you've

959
00:50:08,600 --> 00:50:10,440
Speaker 1: been listening to this and you want to get investing,

960
00:50:10,680 --> 00:50:14,279
Speaker 1: my next intake for the Investing master Class is open now.

961
00:50:14,440 --> 00:50:16,680
Speaker 1: Masterclass is going to open its doors and start on

962
00:50:16,719 --> 00:50:19,520
Speaker 1: the first of April, which I'm really excited about. The

963
00:50:19,560 --> 00:50:21,360
Speaker 1: link is going to be in the show notes for that.

964
00:50:21,680 --> 00:50:24,799
Speaker 1: And of course, if you loved this episode, make sure

965
00:50:24,800 --> 00:50:27,359
Speaker 1: that you're following the podcast so you never miss an

966
00:50:27,400 --> 00:50:30,200
Speaker 1: update from us. Hit that subscribe button, leave us a

967
00:50:30,239 --> 00:50:33,000
Speaker 1: review if you're feeling a little bit generous and come

968
00:50:33,040 --> 00:50:34,600
Speaker 1: hang out with us in the She's on the Money

969
00:50:34,600 --> 00:50:37,160
Speaker 1: community on Instagram, because that's where we do all of

970
00:50:37,200 --> 00:50:40,279
Speaker 1: our callouts for questions for episodes just like this. We

971
00:50:40,400 --> 00:50:43,200
Speaker 1: love hearing your questions, so keep them coming, my friends.

972
00:50:43,520 --> 00:50:46,560
Speaker 1: That is it for us, Glenny James, goodbye, happy investing,

973
00:50:46,600 --> 00:50:55,280
Speaker 1: and we'll see you next time. Byebee did buy shared

974
00:50:55,320 --> 00:50:57,719
Speaker 1: on Sheese on the Money is general in nature and

975
00:50:57,760 --> 00:51:01,440
Speaker 1: does not consider your individual circumstance. She's on the Money

976
00:51:01,520 --> 00:51:05,080
Speaker 1: exists purely for educational purposes and should not be relied

977
00:51:05,120 --> 00:51:08,239
Speaker 1: upon to make an investment or financial decision. If you

978
00:51:08,360 --> 00:51:11,080
Speaker 1: do choose to buy a financial product, read the PDS

979
00:51:11,120 --> 00:51:15,120
Speaker 1: TMD and obtain appropriate financial advice tailored towards your needs.

980
00:51:15,520 --> 00:51:19,440
Speaker 1: Victoria Divine and She's on the Money are authorized representatives

981
00:51:19,480 --> 00:51:23,200
Speaker 1: of Money Sherper Pty Ltd a BN three two one

982
00:51:23,400 --> 00:51:27,319
Speaker 1: six four nine two seven seven zero eight AFSL four

983
00:51:27,360 --> 00:51:29,880
Speaker 1: five one two eight nine