1 00:00:00,200 --> 00:00:02,960 Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations 2 00:00:03,000 --> 00:00:07,280 Speaker 1: woman and I'm here to acknowledge country t Glenn Young 3 00:00:07,320 --> 00:00:11,400 Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka Nian our gay 4 00:00:11,440 --> 00:00:17,120 Speaker 1: in Nimbina, yakarum jar Dominyamiga Umagahawakawaman, damon Imlan Bumba ban 5 00:00:17,160 --> 00:00:20,040 Speaker 1: Gadabomba in and now in wakah Ghana on yak rum 6 00:00:20,120 --> 00:00:24,920 Speaker 1: jar Watnadaa. Hello, beautiful friends, we gather on the lands 7 00:00:24,960 --> 00:00:28,000 Speaker 1: of the Aboriginal people. We thank acknowledge and respect the 8 00:00:28,040 --> 00:00:31,240 Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure 9 00:00:31,280 --> 00:00:33,680 Speaker 1: in all the land and respect all that you see. 10 00:00:34,600 --> 00:00:40,160 Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections, 11 00:00:40,960 --> 00:00:44,560 Speaker 1: bringing you the tools, knowledge and resources for you to thrive. 12 00:00:44,840 --> 00:00:47,560 Speaker 2: She's on the Money. She's on the Money. 13 00:01:07,640 --> 00:01:10,440 Speaker 3: Hello, and welcome to She's on the Money, the podcast 14 00:01:10,520 --> 00:01:12,640 Speaker 3: that's here to show you that investing isn't just for 15 00:01:12,720 --> 00:01:15,320 Speaker 3: the rich, it is for you too. If you're ready 16 00:01:15,360 --> 00:01:18,160 Speaker 3: to start investing, but you're thinking where do I even begin, 17 00:01:18,520 --> 00:01:21,479 Speaker 3: this one is for you or maybe you've already bought 18 00:01:21,560 --> 00:01:24,160 Speaker 3: needed here for maybe you already own a few direct shares, 19 00:01:24,319 --> 00:01:26,440 Speaker 3: and you now have like a portfolio that feels a 20 00:01:26,480 --> 00:01:30,040 Speaker 3: little bit random. You're not sure if it's diversified. It 21 00:01:30,120 --> 00:01:32,920 Speaker 3: just feels a little bit chaotic. You're not totally clear 22 00:01:33,080 --> 00:01:35,240 Speaker 3: on what you're building, and you're just excited to be 23 00:01:35,440 --> 00:01:38,600 Speaker 3: starting to invest. And honestly, girl, you are not alone. 24 00:01:38,720 --> 00:01:41,280 Speaker 3: We have all been there. So today we are giving 25 00:01:41,319 --> 00:01:44,400 Speaker 3: your investing strategy a glow up. We are breaking down 26 00:01:44,520 --> 00:01:47,360 Speaker 3: one of the easiest ways to build a portfolio that 27 00:01:47,520 --> 00:01:50,720 Speaker 3: actually works. I'm Victoria Devine and I am a retired 28 00:01:50,760 --> 00:01:54,440 Speaker 3: financial advisor who is wildly passionate about getting more women 29 00:01:54,960 --> 00:01:58,080 Speaker 3: just like you to start building wealth through investing. And 30 00:01:58,200 --> 00:02:00,960 Speaker 3: with me today is someone who has quickly become a 31 00:02:01,160 --> 00:02:05,480 Speaker 3: favorite in our podcast episodes, especially our Investments every in 32 00:02:05,560 --> 00:02:08,040 Speaker 3: the office. Oh, your favorite in the office. That's nice. 33 00:02:08,120 --> 00:02:08,560 Speaker 2: That's a nice. 34 00:02:09,720 --> 00:02:13,840 Speaker 3: You are smart, you are strategic, and I am trying 35 00:02:13,880 --> 00:02:15,880 Speaker 3: really hard to yes, please don't tell my husband, and 36 00:02:16,280 --> 00:02:19,919 Speaker 3: you have built an investing portfolio that could have you 37 00:02:20,040 --> 00:02:23,359 Speaker 3: retiring by the time you are thirty five. Miss brook Green, 38 00:02:23,480 --> 00:02:24,840 Speaker 3: welcome back to the show. 39 00:02:25,040 --> 00:02:26,480 Speaker 2: Thank you for the rule of the ah. I feel 40 00:02:26,480 --> 00:02:29,480 Speaker 2: like I Miss Jessica Ricky Jesse, it's Ricky. 41 00:02:30,560 --> 00:02:32,880 Speaker 3: Everybody says that, But like every time you slide into 42 00:02:32,919 --> 00:02:35,440 Speaker 3: my DMS and tell me that I'm saying Jess's name wrong, 43 00:02:35,639 --> 00:02:39,240 Speaker 3: cheers for the engagement, Like, thank you, I appreciate it, illium. 44 00:02:39,520 --> 00:02:42,400 Speaker 3: Do you think that I am doing that accidentally? No, 45 00:02:42,919 --> 00:02:43,920 Speaker 3: it's not an accident. 46 00:02:44,240 --> 00:02:45,280 Speaker 2: She's engagement farming. 47 00:02:45,360 --> 00:02:48,160 Speaker 3: I have to say, our community loves hearing about your 48 00:02:48,200 --> 00:02:50,960 Speaker 3: investing journey. I think the idea of hearing from someone 49 00:02:51,080 --> 00:02:54,320 Speaker 3: who is a salaried employee who is working towards this. 50 00:02:54,520 --> 00:02:55,519 Speaker 2: I'm working nine to five. 51 00:02:55,680 --> 00:02:58,120 Speaker 3: Yeah, but it's also just really empowering because it's one 52 00:02:58,160 --> 00:03:00,160 Speaker 3: thing to hear from me, and then people go, but 53 00:03:00,360 --> 00:03:02,680 Speaker 3: like that's kind of not as relatable. You're a business owner, 54 00:03:02,760 --> 00:03:05,240 Speaker 3: and like you have so many different elements and things 55 00:03:05,320 --> 00:03:08,400 Speaker 3: going on. I think having somebody who's walking the walk 56 00:03:08,840 --> 00:03:13,520 Speaker 3: that really is relatable to our community is just making sense. 57 00:03:13,919 --> 00:03:16,520 Speaker 3: And we've had so many messages from people, and You've 58 00:03:16,560 --> 00:03:18,400 Speaker 3: been in the messages as well, because you just like 59 00:03:18,480 --> 00:03:22,440 Speaker 3: reading about yourself from people saying how inspired they are 60 00:03:22,960 --> 00:03:25,600 Speaker 3: by what you've built, especially knowing that you didn't start 61 00:03:25,639 --> 00:03:28,480 Speaker 3: out with a finance degree or a massive inheritance. You 62 00:03:28,560 --> 00:03:32,359 Speaker 3: were just like really consistent and really clear about your vision. Yes, 63 00:03:32,520 --> 00:03:34,280 Speaker 3: but today we're not going to be talking about like 64 00:03:34,360 --> 00:03:38,360 Speaker 3: the outcome or the results or performance. We're actually getting 65 00:03:38,400 --> 00:03:41,480 Speaker 3: into something a little bit more gritty, and we're going 66 00:03:41,560 --> 00:03:43,480 Speaker 3: to talk about strategy behind it. 67 00:03:43,720 --> 00:03:43,920 Speaker 2: Yep. 68 00:03:44,280 --> 00:03:47,240 Speaker 3: And we're going to talk about a specific strategy that 69 00:03:47,400 --> 00:03:50,880 Speaker 3: I believe both you and I employ. Yes, are you 70 00:03:51,000 --> 00:03:54,920 Speaker 3: excited for this? I am? Now, Brooke, I would say, 71 00:03:55,240 --> 00:03:58,440 Speaker 3: having poured over your investment portfolio, because I am nothing 72 00:03:58,560 --> 00:03:59,680 Speaker 3: if not perfect, I feel like. 73 00:03:59,680 --> 00:04:01,560 Speaker 2: It's like it's ingrained in us to be nosy. 74 00:04:02,080 --> 00:04:04,480 Speaker 3: Yeah, and like that's cool, that's market research. 75 00:04:04,800 --> 00:04:05,000 Speaker 2: Yeah. 76 00:04:05,080 --> 00:04:06,640 Speaker 4: Sorry, So if you guys want to send in what 77 00:04:06,720 --> 00:04:08,640 Speaker 4: your portfolios are, we'd love to look at them. Yeah. 78 00:04:09,000 --> 00:04:12,040 Speaker 3: Absolutely. Unfortunately I can't provide you any but we will 79 00:04:12,120 --> 00:04:14,440 Speaker 3: just go thank you for showing me. Yeah, thank you. 80 00:04:14,560 --> 00:04:16,840 Speaker 3: It's like gossip, and the best type of gossip is 81 00:04:16,880 --> 00:04:18,720 Speaker 3: about other people that I have nothing to do with. Yes, 82 00:04:19,720 --> 00:04:22,320 Speaker 3: but your portfolio is relatively impressive. 83 00:04:22,600 --> 00:04:22,840 Speaker 1: Thank you. 84 00:04:23,200 --> 00:04:24,120 Speaker 3: Was that always the case? 85 00:04:24,360 --> 00:04:24,400 Speaker 1: No? 86 00:04:24,920 --> 00:04:28,400 Speaker 4: Oh okay, no, no, this is boring. I'm the average 87 00:04:28,400 --> 00:04:32,560 Speaker 4: retail investor. Like my portfolio was really boring and probably stupid. 88 00:04:32,600 --> 00:04:34,600 Speaker 4: If a financial advisor looked at it the day that 89 00:04:34,680 --> 00:04:36,680 Speaker 4: I started investing, I'm like, bro, what. 90 00:04:36,839 --> 00:04:39,600 Speaker 2: Are you doing? But that's okay, chaos investor. 91 00:04:39,720 --> 00:04:41,320 Speaker 4: Yeah, we do the best with the information that we 92 00:04:41,400 --> 00:04:43,720 Speaker 4: have at the time, and then as we get more educated, 93 00:04:43,800 --> 00:04:46,560 Speaker 4: we make better decisions that aligned with our financial goals. 94 00:04:46,400 --> 00:04:49,840 Speaker 3: And we have to make some cleanup like and that's okay. 95 00:04:50,200 --> 00:04:52,599 Speaker 3: We can't be perfect, no, And I think so many 96 00:04:52,680 --> 00:04:55,720 Speaker 3: people are so scared to start investing because they're so 97 00:04:56,000 --> 00:04:57,640 Speaker 3: worried that they'll make the wrong decision. 98 00:04:57,640 --> 00:04:58,880 Speaker 2: They're like, what if I have to sell it, You'll 99 00:04:58,920 --> 00:05:01,359 Speaker 2: never be perfect? Right time to start, and. 100 00:05:02,640 --> 00:05:05,039 Speaker 3: It's all good, like try you know what, you can 101 00:05:05,120 --> 00:05:06,880 Speaker 3: sell something and you can get into something else. 102 00:05:06,960 --> 00:05:09,480 Speaker 2: But like what you used to have. If you sell something, 103 00:05:09,480 --> 00:05:10,800 Speaker 2: you make a mistake, you can try again. 104 00:05:10,880 --> 00:05:11,400 Speaker 3: I've done that. 105 00:05:11,640 --> 00:05:13,320 Speaker 2: Yes, I've done that. I have paradigm. 106 00:05:13,480 --> 00:05:15,800 Speaker 3: I've had shut up. I'm not getting rid of paradigm. 107 00:05:16,520 --> 00:05:20,839 Speaker 3: I have had sell down regret before and it happened 108 00:05:20,880 --> 00:05:22,680 Speaker 3: to the best of us. Rude, not too I'm getting 109 00:05:22,720 --> 00:05:24,960 Speaker 3: back into that. When did it actually click for you 110 00:05:25,480 --> 00:05:28,200 Speaker 3: that maybe chaos investing was not for you? And you 111 00:05:28,320 --> 00:05:30,480 Speaker 3: needed an actual plan. Was that like you bought a 112 00:05:30,520 --> 00:05:32,040 Speaker 3: couple of things and you were just hoping for the best, 113 00:05:32,080 --> 00:05:33,880 Speaker 3: and then you were like, hold up, yeah. 114 00:05:33,760 --> 00:05:36,400 Speaker 4: I think realizing that, Okay, well, if I'm investing in 115 00:05:36,520 --> 00:05:39,520 Speaker 4: direct shares and I don't have lots lots of direct shares, 116 00:05:39,839 --> 00:05:42,360 Speaker 4: my risk is heavily weighted in one or two things 117 00:05:42,440 --> 00:05:44,800 Speaker 4: and one or two industries they probably mirror each. 118 00:05:44,640 --> 00:05:48,640 Speaker 3: Other, so my risk is so so so high and confronting. 119 00:05:48,800 --> 00:05:50,680 Speaker 2: It's really confronting it, especially as like a cause you 120 00:05:50,680 --> 00:05:52,120 Speaker 2: think you're doing a really good job and then all of. 121 00:05:52,080 --> 00:05:53,160 Speaker 3: A sudden, I'm not. 122 00:05:53,440 --> 00:05:55,480 Speaker 4: And it's like because of I'm a salaried employee. It's 123 00:05:55,520 --> 00:05:57,800 Speaker 4: like I don't have the money to splash around. If 124 00:05:57,839 --> 00:06:00,599 Speaker 4: I make the mistake, that's on me. Like, I'm up, 125 00:06:00,680 --> 00:06:02,919 Speaker 4: she'd creek without a puddle. So I needed to make 126 00:06:02,960 --> 00:06:05,000 Speaker 4: a decision that was less risky but still going to 127 00:06:05,040 --> 00:06:08,320 Speaker 4: provide me with growth options. So that's when we started 128 00:06:08,360 --> 00:06:10,240 Speaker 4: employing the call versus satellite approach. 129 00:06:10,360 --> 00:06:12,880 Speaker 3: Yeah, I was going to tell them about that spoiler approach, 130 00:06:13,520 --> 00:06:16,000 Speaker 3: but I guess was there a moment in time where 131 00:06:16,000 --> 00:06:18,000 Speaker 3: you were like, oh, I probably should change this or 132 00:06:18,040 --> 00:06:21,080 Speaker 3: were you just like, I'm going to slowly work towards. 133 00:06:20,720 --> 00:06:23,920 Speaker 4: This, like twenty twenty COVID times that was like my 134 00:06:24,160 --> 00:06:26,840 Speaker 4: real like, okay, this is I've got nothing else to 135 00:06:26,880 --> 00:06:29,840 Speaker 4: do except for TikTok and invest and that worked out 136 00:06:29,920 --> 00:06:31,720 Speaker 4: really well for you when worked out for me? Go 137 00:06:31,800 --> 00:06:35,120 Speaker 4: following on TikTok at splin, that's I'm going to make 138 00:06:35,160 --> 00:06:35,680 Speaker 4: that my own. 139 00:06:35,560 --> 00:06:36,400 Speaker 2: Clip for myself. 140 00:06:37,920 --> 00:06:40,279 Speaker 4: So I kind of started reading lots of investing things. 141 00:06:40,360 --> 00:06:42,559 Speaker 4: Then I joined a million one Subreddit says you probably 142 00:06:42,560 --> 00:06:45,160 Speaker 4: already know. Listen to podcasts. I listened to Shoes on 143 00:06:45,200 --> 00:06:48,960 Speaker 4: the Money, which is so funny. Full circle, and then I. 144 00:06:49,000 --> 00:06:52,200 Speaker 3: Kind of realized, okay, I only indoctrinate people into my 145 00:06:52,440 --> 00:06:55,120 Speaker 3: employee least if you're like in the colt already. 146 00:06:55,200 --> 00:06:56,760 Speaker 2: I would like it to be known that you followed 147 00:06:56,839 --> 00:06:58,000 Speaker 2: me first I did. 148 00:06:58,120 --> 00:07:00,520 Speaker 3: She was scomo girl, I know you want to talk 149 00:07:00,520 --> 00:07:03,360 Speaker 3: about that. No, I didn't move on and talk about 150 00:07:03,360 --> 00:07:04,440 Speaker 3: a core satellite approach. 151 00:07:05,279 --> 00:07:07,480 Speaker 4: So twenty twenty I chose that we need to switch 152 00:07:07,560 --> 00:07:08,840 Speaker 4: this up and we need to go let's pick some 153 00:07:09,040 --> 00:07:11,160 Speaker 4: core ETFs. So I tried to pick two or three 154 00:07:11,240 --> 00:07:14,640 Speaker 4: that aligned to my goals and then I did that 155 00:07:14,800 --> 00:07:17,560 Speaker 4: for a while, and then I introduced the satellite approach. 156 00:07:17,960 --> 00:07:21,800 Speaker 3: Yes, so I think that that's where, thankfully, I have 157 00:07:21,960 --> 00:07:25,840 Speaker 3: kind of always been placed because I had that and 158 00:07:25,880 --> 00:07:28,040 Speaker 3: thanks with your meditation. And you know, a lot of 159 00:07:28,080 --> 00:07:30,200 Speaker 3: people are so worried that they'll make mistakes, but the 160 00:07:30,280 --> 00:07:32,920 Speaker 3: reality is like, just like Brook, you can make mistakes 161 00:07:32,960 --> 00:07:34,800 Speaker 3: and you can fix it. Yeah, and it's also like 162 00:07:34,960 --> 00:07:36,200 Speaker 3: not the biggest mistake because. 163 00:07:36,000 --> 00:07:37,520 Speaker 2: You had the end of the the money. It as 164 00:07:37,600 --> 00:07:38,880 Speaker 2: much just a small amount of money. 165 00:07:39,000 --> 00:07:41,239 Speaker 4: Like obviously, if you're a retail investor, you're not investing 166 00:07:41,480 --> 00:07:43,640 Speaker 4: one hundred fifty thousand dollars. I was investing like two 167 00:07:43,760 --> 00:07:46,160 Speaker 4: or three grand, and that was over a couple of years, 168 00:07:46,200 --> 00:07:47,800 Speaker 4: So like you might think, oh, that's a lot of money, 169 00:07:47,800 --> 00:07:49,440 Speaker 4: but it's like ten dollars a week. Yeah, so that 170 00:07:49,520 --> 00:07:51,320 Speaker 4: point Okay, well, okay, great, I've only invested two with 171 00:07:51,360 --> 00:07:53,200 Speaker 4: three grand, maybe I've lost seven hundred dollars. 172 00:07:53,320 --> 00:07:55,120 Speaker 2: Who cares. I'd rather make the. 173 00:07:55,120 --> 00:07:58,360 Speaker 4: Decision sell that off, enjoy the losses for my tax return, 174 00:07:58,560 --> 00:08:01,320 Speaker 4: and then begin and again with an approach that makes 175 00:08:01,360 --> 00:08:02,840 Speaker 4: a bit more sense of my financial future. 176 00:08:03,720 --> 00:08:05,760 Speaker 3: Let's go back to because I'm trying to make this 177 00:08:05,920 --> 00:08:08,360 Speaker 3: like a little bit of a snappy episode because like 178 00:08:08,520 --> 00:08:11,080 Speaker 3: we can, we can, Yeah, we can, yeap. So we're 179 00:08:11,120 --> 00:08:13,840 Speaker 3: trying to get through this. Both of us have mentioned 180 00:08:13,960 --> 00:08:17,040 Speaker 3: that we have a core satellite approach. And if you're thinking, 181 00:08:17,080 --> 00:08:19,400 Speaker 3: what the heck, what the helly, what is going on here? 182 00:08:20,040 --> 00:08:20,560 Speaker 2: What is that? 183 00:08:20,800 --> 00:08:23,680 Speaker 3: Don't worry because we are going to break that down 184 00:08:23,800 --> 00:08:27,400 Speaker 3: for you. So I would say it's probably one of 185 00:08:27,480 --> 00:08:32,480 Speaker 3: the most popular strategies employed by financial advisors in Australia. 186 00:08:32,800 --> 00:08:35,240 Speaker 3: Like when I talk to other financial advisors, we all 187 00:08:35,320 --> 00:08:38,599 Speaker 3: kind of fall back onto the core satellite approach and 188 00:08:38,679 --> 00:08:41,679 Speaker 3: it sounds a lot more fancy than it is. But 189 00:08:41,880 --> 00:08:45,760 Speaker 3: like when we talk about core satellite, it's literally core. 190 00:08:45,920 --> 00:08:48,719 Speaker 3: Like think about the Moon and that's where majority of 191 00:08:48,800 --> 00:08:51,760 Speaker 3: your investments are going to sit. And then there's literally 192 00:08:51,840 --> 00:08:54,880 Speaker 3: a satellite and it's really small and it floats around, but. 193 00:08:54,960 --> 00:08:55,640 Speaker 2: It's really space. 194 00:08:56,000 --> 00:08:58,079 Speaker 3: Yeah, it's the International Space Station. We don't know what 195 00:08:58,160 --> 00:09:00,679 Speaker 3: the hell's going on there. That's why we don't try buying. Yeah, 196 00:09:00,720 --> 00:09:02,960 Speaker 3: we don't invest heaps, but it like sits a little 197 00:09:02,960 --> 00:09:04,520 Speaker 3: bit separate and that's where we can play. 198 00:09:04,559 --> 00:09:05,360 Speaker 2: We like, that's our fun. 199 00:09:05,760 --> 00:09:07,839 Speaker 3: Nothing on the moon. Now it's kind of boring, and 200 00:09:07,920 --> 00:09:09,760 Speaker 3: it should be boring, because that's what a good investment 201 00:09:09,800 --> 00:09:12,080 Speaker 3: strategy is. Low and slow of fun. Stuff's happening at 202 00:09:12,120 --> 00:09:14,800 Speaker 3: the space station and spin around and around, and there's 203 00:09:14,840 --> 00:09:16,760 Speaker 3: so much fun stuff going on there. But we also 204 00:09:16,800 --> 00:09:18,280 Speaker 3: don't want to put all of our money there because 205 00:09:18,559 --> 00:09:21,320 Speaker 3: it's risky. We don't know what's happening exactly. So floating 206 00:09:21,360 --> 00:09:24,120 Speaker 3: in space, why did you choose a course satellite approach? 207 00:09:24,240 --> 00:09:25,360 Speaker 3: I think I chose a course. 208 00:09:25,520 --> 00:09:27,679 Speaker 4: Originally I started with just the core, and then as 209 00:09:27,679 --> 00:09:29,920 Speaker 4: it became a bit more knowledgeable and added things to 210 00:09:30,040 --> 00:09:32,199 Speaker 4: my watch list and change while I was investing in, 211 00:09:32,280 --> 00:09:34,240 Speaker 4: I was like, well, I really want to try investing 212 00:09:34,240 --> 00:09:37,600 Speaker 4: in thematic ETFs and some directions. Okay, but I don't 213 00:09:37,679 --> 00:09:41,160 Speaker 4: want to change my actual investments, Like I really love 214 00:09:41,280 --> 00:09:43,120 Speaker 4: what I've got going on here, but I still want 215 00:09:43,120 --> 00:09:45,679 Speaker 4: to dabble in that. So then I started introducing every 216 00:09:45,720 --> 00:09:48,080 Speaker 4: time I get paid dividends, I'd put that dividend money 217 00:09:48,200 --> 00:09:51,320 Speaker 4: into a different Breakeridge account so that I can then go, okay, well, 218 00:09:51,360 --> 00:09:53,439 Speaker 4: I will do my little satellite options over here, and 219 00:09:53,520 --> 00:09:55,559 Speaker 4: then I'm hearing in the news all these fun companies 220 00:09:55,800 --> 00:09:57,240 Speaker 4: adding those to my watch lists, and when I was 221 00:09:57,280 --> 00:09:59,280 Speaker 4: ready to buy, I'd check some money in, but it 222 00:09:59,440 --> 00:10:01,840 Speaker 4: was not big amount. It's under five to ten percent 223 00:10:01,880 --> 00:10:04,360 Speaker 4: of my portfolio. Like, it is not a lot of money, 224 00:10:04,679 --> 00:10:06,640 Speaker 4: but it's money that I'm willing to lose because I 225 00:10:06,720 --> 00:10:09,760 Speaker 4: do consider it a little bit more high risk than 226 00:10:10,080 --> 00:10:10,480 Speaker 4: my core. 227 00:10:10,720 --> 00:10:14,880 Speaker 3: Yeah, and so honestly, the core satellite approach, I would 228 00:10:14,920 --> 00:10:17,959 Speaker 3: say is relatively ideal if you're a long term buy 229 00:10:18,040 --> 00:10:20,959 Speaker 3: and hold kind of investor, Like you want something that 230 00:10:21,440 --> 00:10:23,600 Speaker 3: is low maintenance but still gives you a bit of flexibility. 231 00:10:23,920 --> 00:10:27,520 Speaker 3: So your core or the moon is where your steady, 232 00:10:27,760 --> 00:10:31,559 Speaker 3: reliable growth without consistently checking in on the market happens. 233 00:10:31,960 --> 00:10:34,719 Speaker 3: And then your satellites that's where we have the fun. Right, 234 00:10:34,840 --> 00:10:36,959 Speaker 3: you invest in maybe something specific or your back a 235 00:10:37,040 --> 00:10:40,120 Speaker 3: theme that you care about, like your thematic ETFs, or 236 00:10:40,240 --> 00:10:44,120 Speaker 3: you lean into a little bit more risk paradigm without 237 00:10:44,200 --> 00:10:44,880 Speaker 3: it letting. 238 00:10:44,720 --> 00:10:45,760 Speaker 2: That is not paying off. 239 00:10:45,880 --> 00:10:48,320 Speaker 3: That's okay, but that's the point, but it's not hijacking 240 00:10:48,400 --> 00:10:52,200 Speaker 3: my whole portfolio because it's a huge light my retirement goals. 241 00:10:52,720 --> 00:10:55,719 Speaker 3: So your portfolio is basically like and I'm trying to 242 00:10:55,760 --> 00:10:57,680 Speaker 3: give you so many examples, so it just makes sense, 243 00:10:57,760 --> 00:11:00,360 Speaker 3: like not just for you, but like for everybody. And 244 00:11:00,400 --> 00:11:02,480 Speaker 3: it's like kind of like a capsule wardrobe. So like 245 00:11:02,880 --> 00:11:07,200 Speaker 3: your core is your staple pieces. They're like your jeans, 246 00:11:07,440 --> 00:11:09,800 Speaker 3: they're the really nice blazer that's well cut. It's a 247 00:11:09,880 --> 00:11:13,199 Speaker 3: few really nice like white t shirts. Like they're not flashy, 248 00:11:13,640 --> 00:11:16,920 Speaker 3: but they're the reason that your outfit works consistently. 249 00:11:16,960 --> 00:11:19,599 Speaker 2: And then you're starting it with trend pieces. 250 00:11:19,840 --> 00:11:22,400 Speaker 3: All these core things they literally go with everything, they 251 00:11:22,440 --> 00:11:25,559 Speaker 3: hold it all together, and they make getting ready in 252 00:11:25,640 --> 00:11:28,640 Speaker 3: the morning really easy, right, and then your satellite that's 253 00:11:28,720 --> 00:11:31,200 Speaker 3: kind of like your accessory. That's like the fun trendy card. 254 00:11:31,240 --> 00:11:34,559 Speaker 3: Again it is the line spy top is far out. 255 00:11:34,600 --> 00:11:37,880 Speaker 3: Don't even get me started on that piece of content. 256 00:11:38,360 --> 00:11:41,079 Speaker 3: The fun bag, the statement earrings, like you know, a 257 00:11:41,160 --> 00:11:42,720 Speaker 3: lipstick that you wear not going to be. 258 00:11:42,720 --> 00:11:45,480 Speaker 2: In season forever exactly, it might work for you now. 259 00:11:45,640 --> 00:11:49,280 Speaker 3: They add personality, they add interest, but only because your 260 00:11:49,280 --> 00:11:52,199 Speaker 3: basics are doing their job, because otherwise, can you imagine 261 00:11:52,320 --> 00:11:54,640 Speaker 3: if you would just trendy every single season. 262 00:11:54,480 --> 00:11:55,520 Speaker 2: You would lose so much money. 263 00:11:55,679 --> 00:11:57,400 Speaker 3: You would not only lose so much money, but like 264 00:11:57,559 --> 00:12:00,320 Speaker 3: you're sick of that stuff, like it's just not fun. 265 00:12:00,640 --> 00:12:03,600 Speaker 3: So the goal here, we're not ditching the fun stuff, 266 00:12:03,679 --> 00:12:06,800 Speaker 3: like we still want to have our little satellite investments, 267 00:12:08,120 --> 00:12:11,520 Speaker 3: but the primary purpose would be to build a strong 268 00:12:11,679 --> 00:12:16,360 Speaker 3: foundation first and then layer the extras with some intention. Yes, Brook, what, 269 00:12:16,679 --> 00:12:19,400 Speaker 3: in your opinion makes a good core portfolio? 270 00:12:20,080 --> 00:12:22,040 Speaker 4: I think a portfolio that you don't have to worry about. 271 00:12:22,080 --> 00:12:23,880 Speaker 4: You should not have to wake up every day and think, 272 00:12:23,960 --> 00:12:26,120 Speaker 4: oh my god, the market's down. But then I like, 273 00:12:26,360 --> 00:12:29,080 Speaker 4: I feel really confident with my core portfolio. Like if 274 00:12:29,120 --> 00:12:31,040 Speaker 4: someone said to me tomorrow and what should I invest in? 275 00:12:31,120 --> 00:12:33,240 Speaker 4: Not that I would ever give anyone personal advice, but 276 00:12:33,520 --> 00:12:35,679 Speaker 4: I would be like, oh, well, god, high growth, this 277 00:12:35,840 --> 00:12:37,920 Speaker 4: is what I invest in, and I've invested in that 278 00:12:38,000 --> 00:12:39,280 Speaker 4: since I first started investing. 279 00:12:39,440 --> 00:12:40,920 Speaker 2: I feel so confident in the mission. 280 00:12:40,960 --> 00:12:43,160 Speaker 4: I feel so confident in what they invest in and 281 00:12:43,240 --> 00:12:45,880 Speaker 4: what's in that portfolio that I don't have to worry. 282 00:12:46,000 --> 00:12:48,520 Speaker 4: Whereas my satellite options, some of them, I'm worried about. 283 00:12:48,760 --> 00:12:49,120 Speaker 5: Some of them. 284 00:12:49,160 --> 00:12:50,760 Speaker 4: I think, oh, I probably should sell that stone because 285 00:12:50,760 --> 00:12:52,840 Speaker 4: I'm losing money. But that's the whole point. 286 00:12:52,920 --> 00:12:55,000 Speaker 3: The core is you're reliable to be a little bit fun, 287 00:12:55,040 --> 00:12:57,000 Speaker 3: and it's not meant to impact goal. 288 00:12:57,200 --> 00:12:58,839 Speaker 4: No, it's like really not going to change it. That's 289 00:12:58,840 --> 00:13:00,240 Speaker 4: not going to make me a millionaire tomorrow, I know. 290 00:13:00,800 --> 00:13:02,319 Speaker 4: But I can have a little bit of fun. I 291 00:13:02,320 --> 00:13:04,880 Speaker 4: could dabble, and I get to experience the highs and 292 00:13:04,920 --> 00:13:06,079 Speaker 4: the lows in the share market. 293 00:13:06,280 --> 00:13:08,640 Speaker 3: I've got a few notes that I've written down, so 294 00:13:08,840 --> 00:13:12,160 Speaker 3: like for my core, I want it to be broadly diversified, 295 00:13:12,280 --> 00:13:15,000 Speaker 3: so we're not just going into one topic. All our 296 00:13:15,000 --> 00:13:17,439 Speaker 3: eggs are not in one basket. I want the fees 297 00:13:17,520 --> 00:13:20,400 Speaker 3: to be relatively low, so like for me that leans 298 00:13:20,480 --> 00:13:23,920 Speaker 3: more into an ETF or like index funds, so like 299 00:13:24,040 --> 00:13:26,640 Speaker 3: low management costs that then don't eat up a low returns. 300 00:13:27,120 --> 00:13:29,679 Speaker 3: I want them to be simple and consistent, so like 301 00:13:29,840 --> 00:13:32,319 Speaker 3: something that I can just regularly invest into, not think 302 00:13:32,320 --> 00:13:35,240 Speaker 3: about too much, Like I'm not stressed about it, no overthinking. 303 00:13:35,400 --> 00:13:38,719 Speaker 3: Don't need to consistently rebalance. Obviously, it needs to be 304 00:13:38,960 --> 00:13:41,880 Speaker 3: aligned to my long term goals and my risk tolerance. 305 00:13:42,000 --> 00:13:45,120 Speaker 3: So like you know, we joked just before about Vanguard 306 00:13:45,200 --> 00:13:48,199 Speaker 3: High Growth and which we both own, and that is 307 00:13:48,320 --> 00:13:50,280 Speaker 3: good for us, but like it might not be good 308 00:13:50,280 --> 00:13:52,480 Speaker 3: for others if you're not a high growth girallye God, 309 00:13:52,640 --> 00:13:53,240 Speaker 3: why would. 310 00:13:53,080 --> 00:13:54,720 Speaker 2: You even consider be stressful for people? 311 00:13:54,760 --> 00:13:56,920 Speaker 4: Because high growth fluctuates as well, even though it's still 312 00:13:57,280 --> 00:14:01,240 Speaker 4: lower risk than a satellite option, it fluctuates, whereas those 313 00:14:01,240 --> 00:14:04,520 Speaker 4: people might prefer something that is less risk less reward. 314 00:14:04,640 --> 00:14:06,920 Speaker 3: Yeah. And then for me at this point in my career, 315 00:14:07,000 --> 00:14:09,120 Speaker 3: at this point in my life, I have realized that 316 00:14:09,240 --> 00:14:11,720 Speaker 3: a set and forget strategy is just better for me. Yeah, 317 00:14:11,960 --> 00:14:14,079 Speaker 3: and it's better for most people because we don't want 318 00:14:14,120 --> 00:14:16,439 Speaker 3: to over evaluate. We don't want to have to, you know, 319 00:14:16,640 --> 00:14:18,800 Speaker 3: be uncomfortable and think that we have to be in 320 00:14:18,920 --> 00:14:21,160 Speaker 3: it every single day. Like I'm sorry, I'm not a 321 00:14:21,240 --> 00:14:24,080 Speaker 3: financial adviser anymore. I do not have forty five hours 322 00:14:24,080 --> 00:14:27,720 Speaker 3: a week to look at investments consistently. Someone else can 323 00:14:27,800 --> 00:14:29,880 Speaker 3: do that for me. So I think I just love 324 00:14:29,960 --> 00:14:32,920 Speaker 3: knowing that it's doing its job over time consistently and 325 00:14:33,000 --> 00:14:36,560 Speaker 3: I can rely on it. Now we've covered the core, 326 00:14:37,040 --> 00:14:38,800 Speaker 3: and we're not done yet because the fun part is 327 00:14:38,880 --> 00:14:40,600 Speaker 3: coming up. Like I'm going to talk about the satellites. 328 00:14:40,680 --> 00:14:43,600 Speaker 3: The space station is coming and that's coming up next. 329 00:14:43,640 --> 00:14:45,960 Speaker 3: So after the break, we're going to get into satellite investments. 330 00:14:46,040 --> 00:14:48,560 Speaker 3: How to use them. How to personalize your portfolio without 331 00:14:49,000 --> 00:14:51,720 Speaker 3: accidentally blowing up your entire strategy, and we'll talk about 332 00:14:51,800 --> 00:14:54,040 Speaker 3: I guess what to include, what mistakes to avoid, and 333 00:14:54,160 --> 00:14:57,520 Speaker 3: how to decide if something really like deserves a spot 334 00:14:57,680 --> 00:15:01,960 Speaker 3: on the satellite space station because like we've talked before, Brook, 335 00:15:02,040 --> 00:15:04,040 Speaker 3: we have watch lists, Like we creep on things all 336 00:15:04,120 --> 00:15:06,800 Speaker 3: the time. Doesn't mean it makes it to the space station. 337 00:15:07,160 --> 00:15:09,760 Speaker 3: Things never make it off the world, absolutely, So guys 338 00:15:09,840 --> 00:15:15,760 Speaker 3: don't go anywhere. All right, we are back and it's 339 00:15:15,840 --> 00:15:17,920 Speaker 3: time to talk about the space station. It is time 340 00:15:18,000 --> 00:15:21,080 Speaker 3: to talk about she's on the space station, she's on 341 00:15:21,160 --> 00:15:24,280 Speaker 3: the satellite. So we're going to talk about satellites because 342 00:15:24,800 --> 00:15:27,440 Speaker 3: that is where your portfolio gets to be a little 343 00:15:27,440 --> 00:15:28,000 Speaker 3: bit interesting. 344 00:15:28,320 --> 00:15:28,600 Speaker 5: You know what. 345 00:15:28,800 --> 00:15:30,840 Speaker 3: Some people just have the core and they're fine with that, 346 00:15:30,960 --> 00:15:33,800 Speaker 3: Like they don't have satellite, Like you just go don't. 347 00:15:33,840 --> 00:15:35,360 Speaker 3: I don't care, Victoria, and you. 348 00:15:35,360 --> 00:15:35,840 Speaker 2: Don't have to. 349 00:15:36,040 --> 00:15:36,080 Speaker 5: Like. 350 00:15:36,120 --> 00:15:37,480 Speaker 2: The thing is I think for us, we have a 351 00:15:37,520 --> 00:15:40,360 Speaker 2: satellite because we find the topic really interesting. It's really fun. 352 00:15:40,440 --> 00:15:40,640 Speaker 3: For me. 353 00:15:40,840 --> 00:15:42,320 Speaker 2: This is like a little hobby that I have. 354 00:15:43,120 --> 00:15:46,359 Speaker 3: And I guess we mentioned earlier, like our core portfolio 355 00:15:47,040 --> 00:15:48,120 Speaker 3: is lifting. 356 00:15:48,200 --> 00:15:51,280 Speaker 4: They exactly care about the satellite. If they never perform, 357 00:15:51,320 --> 00:15:53,280 Speaker 4: they never turn over. Great, what if I lost this 358 00:15:53,400 --> 00:15:55,720 Speaker 4: year five hundred dollars, I've lost five hundred dollars. But 359 00:15:55,760 --> 00:15:57,840 Speaker 4: the rest of my portfolio is doing what it intends 360 00:15:57,880 --> 00:15:58,720 Speaker 4: to do exactly. 361 00:15:58,840 --> 00:16:00,680 Speaker 3: And I think it's like how many times have you 362 00:16:00,760 --> 00:16:02,440 Speaker 3: looked back at old photos and be like, what the 363 00:16:02,480 --> 00:16:03,120 Speaker 3: hell am I wearing? 364 00:16:03,200 --> 00:16:04,320 Speaker 2: Why did I do mybrows like that? 365 00:16:04,960 --> 00:16:08,480 Speaker 3: Don't even I get this point? I added on exactly, 366 00:16:08,640 --> 00:16:11,040 Speaker 3: like I am committed to the eyebrows, so we won't 367 00:16:11,080 --> 00:16:13,960 Speaker 3: go there. But like you look back on things and go, 368 00:16:14,120 --> 00:16:16,160 Speaker 3: why did I pick that? And that's why I don't 369 00:16:16,200 --> 00:16:20,680 Speaker 3: want satellite to be your entire strategy. Now. Satellite obviously, 370 00:16:20,840 --> 00:16:23,480 Speaker 3: and I'm just gonna hound this again. It makes up 371 00:16:23,480 --> 00:16:26,760 Speaker 3: a much smaller part of your portfolio. So like think 372 00:16:26,880 --> 00:16:29,080 Speaker 3: five to some people have thirty percent. I don't know 373 00:16:29,080 --> 00:16:31,400 Speaker 3: about you mine, or if I like group in my 374 00:16:31,520 --> 00:16:34,880 Speaker 3: satellite stuff, I would say that it's maximum ten percent. 375 00:16:35,440 --> 00:16:38,760 Speaker 3: But like, even of that, there's some pretty conservative like satellites, 376 00:16:38,840 --> 00:16:41,200 Speaker 3: and I just like group in your individual Oh no, 377 00:16:41,320 --> 00:16:43,440 Speaker 3: I group in my individual shares into that. So like 378 00:16:43,560 --> 00:16:46,280 Speaker 3: everything else is an ETF. But it depends on how 379 00:16:46,360 --> 00:16:49,800 Speaker 3: much risk you want to take on, and they are 380 00:16:49,960 --> 00:16:53,120 Speaker 3: I guess best used to complement your core, not we're 381 00:16:53,160 --> 00:16:55,440 Speaker 3: not competing with our core. And that's why we also 382 00:16:55,520 --> 00:16:58,000 Speaker 3: want to make sure like we fully understand what's in 383 00:16:58,040 --> 00:17:00,400 Speaker 3: our ETFs because I feel like super passionate about Apple 384 00:17:00,480 --> 00:17:01,920 Speaker 3: and you're like, I want that as part of my 385 00:17:02,000 --> 00:17:05,320 Speaker 3: satellite strategy. She's going to the space station. Go what 386 00:17:05,520 --> 00:17:08,240 Speaker 3: if you already double it into ETFs? Like that just 387 00:17:08,320 --> 00:17:11,440 Speaker 3: feels like a bit redundant, Like yes, you like following it, 388 00:17:11,560 --> 00:17:11,879 Speaker 3: but like. 389 00:17:12,040 --> 00:17:12,760 Speaker 2: It's in your mote. 390 00:17:13,160 --> 00:17:17,280 Speaker 3: Yeah, sorry, it's in the mote. So what actually counts 391 00:17:17,320 --> 00:17:19,280 Speaker 3: as a satellite? It could be what you were talking 392 00:17:19,320 --> 00:17:22,200 Speaker 3: about before Brook so like a thematic ets, like one 393 00:17:22,240 --> 00:17:26,000 Speaker 3: that focuses on clean energy or tech innovation, or like 394 00:17:26,200 --> 00:17:30,200 Speaker 3: you are talking about crypto infrastructure. It could be a 395 00:17:30,280 --> 00:17:33,440 Speaker 3: few individual shares in companies you genuinely believe in. It 396 00:17:33,560 --> 00:17:35,600 Speaker 3: honestly could be crypto. So I think a lot of 397 00:17:35,640 --> 00:17:37,840 Speaker 3: people are like, Vita, do you like crypto? And I'm 398 00:17:37,880 --> 00:17:40,200 Speaker 3: kind of like, well, it's not really my journey, but 399 00:17:40,560 --> 00:17:42,520 Speaker 3: if you want to own it, I would be having 400 00:17:42,600 --> 00:17:45,399 Speaker 3: a satellite. It like fits in there as opposed to 401 00:17:45,960 --> 00:17:49,280 Speaker 3: your core And basically it's the stuff that like reflects 402 00:17:49,320 --> 00:17:51,040 Speaker 3: your goals and your values and something that you just 403 00:17:51,119 --> 00:17:53,520 Speaker 3: like want a little bit of individual exposure to, Like 404 00:17:54,040 --> 00:17:56,760 Speaker 3: it's where the tea lives. So what kind of things 405 00:17:56,880 --> 00:17:58,040 Speaker 3: in your satellite right now. 406 00:17:58,080 --> 00:18:00,359 Speaker 2: At the moment. A lot of my satellite is in America. 407 00:18:00,480 --> 00:18:02,400 Speaker 4: I can give you some examples, and some of them 408 00:18:02,560 --> 00:18:05,000 Speaker 4: are random, and I've lost money on them, that's why 409 00:18:05,080 --> 00:18:07,800 Speaker 4: they're in my satellite. But they are just things that 410 00:18:07,800 --> 00:18:10,720 Speaker 4: I'm interested in. I like to pretty much just invest 411 00:18:10,760 --> 00:18:13,320 Speaker 4: in companies that I care about. So some things that 412 00:18:13,440 --> 00:18:16,679 Speaker 4: are in my satellite include Beyond, which I'm pretty sure 413 00:18:16,720 --> 00:18:20,000 Speaker 4: is like the Beyond beef, like the vegan foods that's 414 00:18:20,119 --> 00:18:23,160 Speaker 4: down like ninety seven percent, ok, so not an investing god. 415 00:18:24,160 --> 00:18:26,639 Speaker 4: A company called GRB Why I can't even remember why 416 00:18:26,640 --> 00:18:27,840 Speaker 4: I invested in that, but I did. 417 00:18:28,080 --> 00:18:28,879 Speaker 3: It sounds like gravy. 418 00:18:29,000 --> 00:18:30,520 Speaker 2: It sounds like gravy, and it's up one hundred and 419 00:18:30,560 --> 00:18:31,080 Speaker 2: thirty percent. 420 00:18:31,280 --> 00:18:33,399 Speaker 3: So you're investing in fake meat and then gravy. 421 00:18:33,480 --> 00:18:36,879 Speaker 4: Yep. I've got notice. I've got Reddit, which is up 422 00:18:36,960 --> 00:18:39,359 Speaker 4: really well. Like I love Reddit, I you know me, 423 00:18:39,440 --> 00:18:41,080 Speaker 4: I talk about it all the time, but I really 424 00:18:41,119 --> 00:18:43,760 Speaker 4: believe in that, so it's in my satellite. I've got Tesla, 425 00:18:43,840 --> 00:18:45,920 Speaker 4: which I don't necessarily believe in it at the moment. 426 00:18:45,960 --> 00:18:47,920 Speaker 4: I'm more a B white E girl, but I still 427 00:18:48,000 --> 00:18:50,120 Speaker 4: have it, so I'm not gonna sell it just yet 428 00:18:50,160 --> 00:18:52,840 Speaker 4: because it's lost some money. So I'm gonna wait a 429 00:18:52,880 --> 00:18:53,199 Speaker 4: little bit. 430 00:18:53,240 --> 00:18:55,960 Speaker 2: I've got Apple, like really, just that's the fund, it's 431 00:18:56,000 --> 00:18:56,560 Speaker 2: the fun stuff. 432 00:18:56,600 --> 00:18:58,040 Speaker 4: And then yeah, I add things in all the time, 433 00:18:58,160 --> 00:19:00,200 Speaker 4: like we did a watch this episode. But some of 434 00:19:00,200 --> 00:19:02,040 Speaker 4: the things on the wash list, maybe they'll be coming off, 435 00:19:02,160 --> 00:19:03,920 Speaker 4: you know, maybe they'll be part of my satellite. But 436 00:19:04,000 --> 00:19:06,320 Speaker 4: these are like risky things that I'm almost it's not 437 00:19:06,480 --> 00:19:08,480 Speaker 4: a bet, but I'm putting it like I'm putting my 438 00:19:08,560 --> 00:19:09,480 Speaker 4: money there, going. 439 00:19:09,359 --> 00:19:10,359 Speaker 3: Hmm, what's going on. 440 00:19:10,480 --> 00:19:12,760 Speaker 2: I think this might pay off, and I care about it, 441 00:19:12,840 --> 00:19:13,520 Speaker 2: so I'm going to try. 442 00:19:13,720 --> 00:19:16,080 Speaker 3: Yeah. I feel like one of the best things about 443 00:19:16,119 --> 00:19:19,640 Speaker 3: this core satellite strategy is that it actually makes investing 444 00:19:19,680 --> 00:19:22,560 Speaker 3: feel relatively simple, like it kind of takes the pressure off. Like, girl, 445 00:19:22,600 --> 00:19:25,800 Speaker 3: you can still have fun, but let's just like build 446 00:19:25,840 --> 00:19:28,440 Speaker 3: our little financial house first. Make sure she's safe at home, 447 00:19:28,480 --> 00:19:29,920 Speaker 3: and then we can go out to play because we 448 00:19:30,000 --> 00:19:32,080 Speaker 3: still have a home to come back to. Ye, and 449 00:19:32,200 --> 00:19:36,360 Speaker 3: you're not making hundreds of decisions every year about every 450 00:19:36,400 --> 00:19:37,960 Speaker 3: time you want to invest in. What that looks like 451 00:19:38,040 --> 00:19:40,360 Speaker 3: and is that worth rebalancing right now? Oh my god, 452 00:19:40,440 --> 00:19:41,960 Speaker 3: it's gotten ahead of me. I don't know what that 453 00:19:42,040 --> 00:19:44,800 Speaker 3: looks like. Like you've got a lot more structure. But 454 00:19:45,359 --> 00:19:48,320 Speaker 3: even with a really solid strategy, there are a few 455 00:19:48,359 --> 00:19:50,240 Speaker 3: things that I want you to be mindful of. And 456 00:19:50,480 --> 00:19:52,399 Speaker 3: like Brooks here to talk about the fun stuff, and 457 00:19:52,440 --> 00:19:54,119 Speaker 3: I'm here to be like, oh, let's get our shit together. 458 00:19:54,200 --> 00:19:56,280 Speaker 3: I'm also I feel like I have to put my 459 00:19:56,560 --> 00:19:59,160 Speaker 3: responsible X financial advisor hat on and be like, there's 460 00:19:59,240 --> 00:20:02,560 Speaker 3: like some things that you should consider really important. And 461 00:20:02,960 --> 00:20:06,920 Speaker 3: when you're following a core satellite strategy, I want to 462 00:20:06,960 --> 00:20:08,760 Speaker 3: know from your perspective before I dive in, what do 463 00:20:08,840 --> 00:20:11,600 Speaker 3: you think more people need to be more mindful of? Like, 464 00:20:11,720 --> 00:20:13,760 Speaker 3: what are things that you don't want to be doing. 465 00:20:14,080 --> 00:20:16,280 Speaker 4: I think you shouldn't put all of your eggs in 466 00:20:16,400 --> 00:20:19,040 Speaker 4: one basket, So for like your satellite, you should be diversified. 467 00:20:19,119 --> 00:20:22,360 Speaker 4: So I have ten companies in the US that I've 468 00:20:22,400 --> 00:20:25,400 Speaker 4: invested in on my satellite side and I've got five 469 00:20:25,520 --> 00:20:29,000 Speaker 4: thematic ETFs, so I still have incredible diversification when it 470 00:20:29,080 --> 00:20:32,040 Speaker 4: comes to my satellite, and probably fifty percent of them 471 00:20:32,080 --> 00:20:33,520 Speaker 4: are not going to pay off, but fifty percent of 472 00:20:33,560 --> 00:20:36,280 Speaker 4: them might, So my overall growth might be like ten percent, 473 00:20:36,680 --> 00:20:39,440 Speaker 4: and still that's not performing better than my core. 474 00:20:39,600 --> 00:20:40,679 Speaker 2: So understanding that. 475 00:20:40,680 --> 00:20:43,160 Speaker 3: There's so much you can't pick the market. 476 00:20:43,040 --> 00:20:45,600 Speaker 2: No, and we should just be happy with that average. 477 00:20:45,680 --> 00:20:48,879 Speaker 4: So I think learning that the satellite is probably not 478 00:20:48,920 --> 00:20:50,320 Speaker 4: going to pay off in the long term for me, 479 00:20:50,400 --> 00:20:52,359 Speaker 4: and I should make sure that all of my focus 480 00:20:52,520 --> 00:20:55,360 Speaker 4: really but it's the importance of the core. Yeah, it's 481 00:20:55,440 --> 00:20:57,879 Speaker 4: like we should be happy with that market average. The 482 00:20:57,920 --> 00:21:00,200 Speaker 4: average of the market is returning is really good, and 483 00:21:00,280 --> 00:21:03,080 Speaker 4: we should be like, Okay, let's slay, let's keep out 484 00:21:03,119 --> 00:21:04,760 Speaker 4: money there, and yeah, we can have fun on the side, 485 00:21:04,800 --> 00:21:07,760 Speaker 4: but don't rely on that as your future wealth. Like, 486 00:21:07,800 --> 00:21:09,760 Speaker 4: you are not going to get rich overnight, and if 487 00:21:09,800 --> 00:21:11,560 Speaker 4: it does happen to you, you should be grateful that 488 00:21:11,560 --> 00:21:13,000 Speaker 4: happened to you, but that should not be what you're 489 00:21:13,040 --> 00:21:13,399 Speaker 4: gaining on. 490 00:21:13,560 --> 00:21:16,040 Speaker 3: Like, yeah, and on the flip side, talking about the core, 491 00:21:16,200 --> 00:21:19,760 Speaker 3: I think that a lot of people own too many ETFs. 492 00:21:20,080 --> 00:21:21,200 Speaker 2: Yeah, and there's overlap. 493 00:21:21,359 --> 00:21:23,120 Speaker 3: Yeah, and they get excited about it. Maybe you heard 494 00:21:23,160 --> 00:21:25,080 Speaker 3: Brooke mention one, maybe you heard me mention one. Then 495 00:21:25,080 --> 00:21:27,080 Speaker 3: you go add it to what your portfolio is because 496 00:21:27,119 --> 00:21:28,000 Speaker 3: you just don't want to miss out. 497 00:21:28,040 --> 00:21:29,399 Speaker 2: Now they're holding the same things. 498 00:21:29,520 --> 00:21:31,119 Speaker 3: Yeah, So we need to make sure that there's not 499 00:21:31,200 --> 00:21:33,479 Speaker 3: too much overlap because a lot of people do end 500 00:21:33,560 --> 00:21:35,560 Speaker 3: up with a lot of overlap, which means you're holding 501 00:21:35,640 --> 00:21:37,840 Speaker 3: multiple ETFs the basically own the same feed. 502 00:21:37,680 --> 00:21:40,320 Speaker 4: Stuff and you're paying double the management fees. So it's like, 503 00:21:40,359 --> 00:21:42,680 Speaker 4: can you find an ETF yeah, one or two or 504 00:21:42,760 --> 00:21:45,960 Speaker 4: three that hold different things that can diversify you even 505 00:21:46,040 --> 00:21:47,800 Speaker 4: more and you're not paying as many fees. Like if 506 00:21:47,840 --> 00:21:50,320 Speaker 4: you're owning ten ETFs that invest in the same thing, 507 00:21:50,440 --> 00:21:52,080 Speaker 4: that's great, but then you're paying one percent fee on 508 00:21:52,119 --> 00:21:54,320 Speaker 4: all of them. I means you're paying ten percent fees annually. 509 00:21:54,520 --> 00:21:56,159 Speaker 3: So really, what are we doing here? 510 00:21:56,400 --> 00:21:57,160 Speaker 2: You're losing money. 511 00:21:57,240 --> 00:22:00,119 Speaker 4: So just niching down your portfolio to what works for 512 00:22:00,240 --> 00:22:03,480 Speaker 4: you and what is still keeping you diversified and in 513 00:22:03,560 --> 00:22:04,080 Speaker 4: the right risk. 514 00:22:04,200 --> 00:22:06,840 Speaker 3: Ray and I feel like in twenty twenty five, lots 515 00:22:06,840 --> 00:22:09,040 Speaker 3: of people have lots of commitment issues. Ye like I'm 516 00:22:09,080 --> 00:22:11,120 Speaker 3: just saying that as an ongoing theme in the dating world, 517 00:22:11,240 --> 00:22:13,600 Speaker 3: but mostly in the investment world. And I think that 518 00:22:14,200 --> 00:22:17,800 Speaker 3: too many people are consistently tweaking their investment strategy because 519 00:22:17,800 --> 00:22:19,960 Speaker 3: something new pops up or something shiny is there and 520 00:22:20,000 --> 00:22:21,200 Speaker 3: they don't want to miss out in the game. 521 00:22:21,560 --> 00:22:23,840 Speaker 4: Might just be have your plan and stick. So if 522 00:22:23,840 --> 00:22:25,760 Speaker 4: you did the investing maskas you know, we willlieve and 523 00:22:25,840 --> 00:22:27,080 Speaker 4: stick into that long term. 524 00:22:27,040 --> 00:22:31,000 Speaker 3: Exactly, and you'll hear a lot of and this takes time, 525 00:22:31,200 --> 00:22:33,440 Speaker 3: so this is not something that immediately I think that 526 00:22:33,520 --> 00:22:35,359 Speaker 3: you'll get, Like you know, I think you have at 527 00:22:35,440 --> 00:22:38,440 Speaker 3: least twelve different investments, and so do I at this point, 528 00:22:38,880 --> 00:22:40,960 Speaker 3: just across a whole heap of things. And you won't 529 00:22:41,000 --> 00:22:43,760 Speaker 3: start that You'll start with like one ETF or maybe 530 00:22:43,840 --> 00:22:45,280 Speaker 3: even you go, look, I'm just going to start with 531 00:22:45,320 --> 00:22:48,000 Speaker 3: two atfs. I'm going to start with a Australian and 532 00:22:48,080 --> 00:22:50,960 Speaker 3: an international and like that. So that's where we all start, right, Like, 533 00:22:51,080 --> 00:22:53,280 Speaker 3: you can't just dive into having you will. 534 00:22:53,200 --> 00:22:54,760 Speaker 2: Not be a lot on day one. 535 00:22:54,960 --> 00:22:57,480 Speaker 3: Yeah, but what I want you to know is that 536 00:22:58,680 --> 00:23:02,360 Speaker 3: you know exactly about that investment, Like you could tell 537 00:23:02,440 --> 00:23:04,840 Speaker 3: me exactly why that's in your portfolio. Why that was 538 00:23:04,840 --> 00:23:08,040 Speaker 3: your field? You're confident that might change, You might go, oh, 539 00:23:08,160 --> 00:23:10,240 Speaker 3: in two years, I actually ditch that and something happens, 540 00:23:10,280 --> 00:23:11,679 Speaker 3: But like we've got conviction in. 541 00:23:11,760 --> 00:23:15,080 Speaker 2: Our strategy toes down. Yeah, and so I think that. 542 00:23:15,640 --> 00:23:18,320 Speaker 3: Not actually knowing what is in your investment or why 543 00:23:18,400 --> 00:23:20,240 Speaker 3: you actually hold it or I just picked it because 544 00:23:20,240 --> 00:23:23,200 Speaker 3: it seemed good, Like, yeah, you're not actually helping yourself 545 00:23:23,240 --> 00:23:25,320 Speaker 3: long term, and the other thing is going back to 546 00:23:25,359 --> 00:23:28,440 Speaker 3: being a magpie. So like, just you know, I feel 547 00:23:28,480 --> 00:23:29,280 Speaker 3: like so many of. 548 00:23:29,400 --> 00:23:31,880 Speaker 2: Us stay in your line, stay with your plan. 549 00:23:32,000 --> 00:23:33,879 Speaker 3: I love shiny stuff too, I am. 550 00:23:34,160 --> 00:23:35,240 Speaker 2: We are all guilty of it. 551 00:23:35,480 --> 00:23:37,600 Speaker 3: We send each other TikTok trends all the time. We 552 00:23:37,760 --> 00:23:42,320 Speaker 3: even quote them. It's borderline embarrassing. But like, don't get 553 00:23:42,400 --> 00:23:44,840 Speaker 3: caught up with the hypestocks or any TikTok trends or 554 00:23:44,960 --> 00:23:47,440 Speaker 3: like random thematics that you think are going to take 555 00:23:47,480 --> 00:23:48,879 Speaker 3: off but you actually don't know about that. 556 00:23:50,160 --> 00:23:51,639 Speaker 4: Just because someone else is doing it doesn't mean it 557 00:23:51,680 --> 00:23:53,720 Speaker 4: would aligned to your portfolio. Like you made a plan, 558 00:23:54,320 --> 00:23:55,960 Speaker 4: stick with your plan for the long term. 559 00:23:56,200 --> 00:23:57,840 Speaker 2: Yeah, give it a chance to pay off. 560 00:23:58,000 --> 00:24:00,399 Speaker 3: So one more question before we go because make this 561 00:24:00,440 --> 00:24:03,320 Speaker 3: snappy so that hopefully we've got heaps of content into 562 00:24:03,400 --> 00:24:06,840 Speaker 3: the future. How do you know when it's time to 563 00:24:06,880 --> 00:24:09,000 Speaker 3: make a change. So now you've been investing, you've obviously 564 00:24:09,040 --> 00:24:11,520 Speaker 3: made lots of changes. Are there signs to look for 565 00:24:11,840 --> 00:24:14,760 Speaker 3: that tell you, oh, maybe broke, this isn't working anymore, 566 00:24:14,840 --> 00:24:16,520 Speaker 3: or maybe you need to make a change. 567 00:24:16,480 --> 00:24:19,200 Speaker 2: Genuinely just believing in it. Like I just looked. Then 568 00:24:19,359 --> 00:24:22,639 Speaker 2: my beyond is down ninety seven percent. Sure, lo great, that's. 569 00:24:22,520 --> 00:24:25,639 Speaker 4: Not great, But that shouldn't be well I should have 570 00:24:25,640 --> 00:24:27,040 Speaker 4: got rid of that, but it was my satellite and 571 00:24:27,119 --> 00:24:28,320 Speaker 4: it was under one hundred. 572 00:24:28,040 --> 00:24:31,160 Speaker 3: Dollars see at this point, like side note, not only 573 00:24:31,200 --> 00:24:32,960 Speaker 3: if it's down ninety seven percent, why. 574 00:24:32,800 --> 00:24:34,200 Speaker 2: Would you not just keep it? Or would you invest 575 00:24:34,200 --> 00:24:34,800 Speaker 2: a little bit more? 576 00:24:35,000 --> 00:24:37,080 Speaker 3: Yes, So that's where I'm at, And I just like, 577 00:24:37,320 --> 00:24:39,840 Speaker 3: if it's down so much, I'm lokey like a hold 578 00:24:40,000 --> 00:24:42,040 Speaker 3: and just begrudging and away should tell. 579 00:24:42,119 --> 00:24:44,920 Speaker 4: I'm but I think I think for me, I'm happy 580 00:24:44,960 --> 00:24:47,800 Speaker 4: to accept the losses and go, wow, great, I've had 581 00:24:47,840 --> 00:24:49,280 Speaker 4: a loss. This that means I'm going to get a 582 00:24:49,280 --> 00:24:50,720 Speaker 4: little bit of money off my tax bill. 583 00:24:50,840 --> 00:24:52,200 Speaker 3: Okay, that's a good way to see. 584 00:24:52,080 --> 00:24:54,439 Speaker 4: It, and I'm going to realign that money to somewhere 585 00:24:54,440 --> 00:24:56,320 Speaker 4: that I do believe. So maybe that money I'm going 586 00:24:56,359 --> 00:24:58,359 Speaker 4: to take and put into Costco because I believe in Costco. 587 00:24:58,800 --> 00:25:00,720 Speaker 4: Maybe I'm going to go that money in a door 588 00:25:00,720 --> 00:25:03,720 Speaker 4: beauty or a different company. I what, what are my 589 00:25:03,840 --> 00:25:06,399 Speaker 4: beliefs changing? Do I still believe in that company? Is 590 00:25:06,560 --> 00:25:10,480 Speaker 4: still price valued correctly? Like it's overvalued and I'm losing money? Gone, 591 00:25:10,640 --> 00:25:11,080 Speaker 4: it's gone? 592 00:25:11,240 --> 00:25:13,200 Speaker 2: Yeah? Do I believe that they have longevity? 593 00:25:13,240 --> 00:25:13,280 Speaker 1: Like? 594 00:25:13,280 --> 00:25:15,080 Speaker 4: Am I looking at that company thinking, oh, ten years time, 595 00:25:15,119 --> 00:25:17,680 Speaker 4: you're still going to exist? No, Like if I blockbustered 596 00:25:17,720 --> 00:25:19,600 Speaker 4: my portfolio, I would have gotten rid of that. It 597 00:25:19,720 --> 00:25:20,880 Speaker 4: doesn't exist in ten years. 598 00:25:21,040 --> 00:25:23,080 Speaker 3: And that's why we have to consistently look at it 599 00:25:23,480 --> 00:25:28,240 Speaker 3: and think critically about it and like the active manager. 600 00:25:28,400 --> 00:25:30,480 Speaker 3: But you can also see that I'm quite committed. And 601 00:25:31,320 --> 00:25:33,280 Speaker 3: I say that about Paradigm, and it's kind of like 602 00:25:33,320 --> 00:25:35,320 Speaker 3: a running joke because it's like a little bit funny 603 00:25:35,359 --> 00:25:38,679 Speaker 3: because you would think that someone as financially educated as 604 00:25:38,720 --> 00:25:39,560 Speaker 3: me would have already got. 605 00:25:39,520 --> 00:25:42,159 Speaker 2: But you had an emotional yeah, and you're allowed that. 606 00:25:42,440 --> 00:25:44,720 Speaker 4: So I think they're absolutely talk like that is good, 607 00:25:45,160 --> 00:25:46,440 Speaker 4: Like I've read it, and I've read it it was 608 00:25:46,480 --> 00:25:47,840 Speaker 4: to go down and probably would still keep it, but 609 00:25:47,880 --> 00:25:49,440 Speaker 4: it's up to sixty eight per cents. 610 00:25:49,520 --> 00:25:52,760 Speaker 3: Absolutely, last question for you, and I feel like this 611 00:25:52,920 --> 00:25:54,879 Speaker 3: is something I struggle with. I know you've struggled with, 612 00:25:55,200 --> 00:25:57,359 Speaker 3: and a lot of people in our community have struggled with. 613 00:25:57,840 --> 00:25:59,399 Speaker 3: What would you say to people who have listened to 614 00:25:59,400 --> 00:26:02,960 Speaker 3: this whole episode but they still have right now analysis 615 00:26:03,080 --> 00:26:05,600 Speaker 3: paralysis over what to put in their portfolio. 616 00:26:05,920 --> 00:26:09,480 Speaker 4: I think jes give yourself room to fail, like you 617 00:26:09,640 --> 00:26:11,560 Speaker 4: are not going to get it right one hundred percent 618 00:26:11,560 --> 00:26:11,840 Speaker 4: of the time. 619 00:26:11,840 --> 00:26:13,080 Speaker 2: I've just read out a bunch of you that have 620 00:26:13,200 --> 00:26:15,879 Speaker 2: lost money. Do I feel shit about those? No, because 621 00:26:15,960 --> 00:26:16,520 Speaker 2: I'm learning. 622 00:26:16,680 --> 00:26:19,000 Speaker 4: I have my core portfolio that I feel really confident in, 623 00:26:19,560 --> 00:26:20,800 Speaker 4: and I'm allowed to have a little bit of fun 624 00:26:20,840 --> 00:26:23,119 Speaker 4: on the side. I'm investing dividends. That's free money to me, 625 00:26:23,720 --> 00:26:26,440 Speaker 4: so that's not my money. Sure, I lost twenty dollars 626 00:26:26,520 --> 00:26:28,960 Speaker 4: on Beyond Meat, but who cares. If it went up 627 00:26:29,040 --> 00:26:31,160 Speaker 4: two hundred dollars, I would be like, Wow, that's really cool. 628 00:26:31,320 --> 00:26:33,200 Speaker 4: But I wouldn't have had that opportunity if I didn't try. 629 00:26:33,320 --> 00:26:34,160 Speaker 2: So you can try. 630 00:26:34,240 --> 00:26:35,840 Speaker 4: You can fail, but just do not bet your house 631 00:26:35,920 --> 00:26:38,600 Speaker 4: deposit on it, don't bet your whole life savings. Just 632 00:26:38,720 --> 00:26:40,760 Speaker 4: have a little bit of fun and make sure it 633 00:26:40,760 --> 00:26:43,680 Speaker 4: aligns with your risk proof. Yeah, you can invest with 634 00:26:43,760 --> 00:26:45,399 Speaker 4: five dollars. You can fractually invest. 635 00:26:45,880 --> 00:26:50,000 Speaker 3: It's very sexy. Yeah, it'll actually invests on Cheesy's you can. 636 00:26:50,320 --> 00:26:52,600 Speaker 3: Brook Thank you so much for joining me. I think 637 00:26:52,720 --> 00:26:54,639 Speaker 3: for a lot of people, this episode is going to 638 00:26:54,680 --> 00:26:56,800 Speaker 3: be like the thing that finally makes investing feel like 639 00:26:57,040 --> 00:26:59,920 Speaker 3: maybe a little bit less chaotic and a bit more intentional. 640 00:27:00,400 --> 00:27:03,439 Speaker 3: So I appreciate it. Even if it was relatively chaotic 641 00:27:03,520 --> 00:27:03,880 Speaker 3: and short. 642 00:27:04,080 --> 00:27:05,200 Speaker 2: That's okay. We do our best. 643 00:27:05,560 --> 00:27:08,000 Speaker 3: If you loved this episode, please make sure that you 644 00:27:08,080 --> 00:27:12,040 Speaker 3: are subscribed. Leave us a little review like dm as 645 00:27:12,160 --> 00:27:15,040 Speaker 3: love notes, and I'll read them out on the Friday episode. 646 00:27:15,400 --> 00:27:17,879 Speaker 3: I'm happy to read love notes about brook out on 647 00:27:17,960 --> 00:27:20,240 Speaker 3: the Friday episode, even though she doesn't feature in them. 648 00:27:20,480 --> 00:27:22,560 Speaker 3: And make sure that you're subscribe to our show because 649 00:27:22,840 --> 00:27:24,080 Speaker 3: you won't miss the next one. 650 00:27:24,359 --> 00:27:26,200 Speaker 2: And we posted on YouTube now too, we do. 651 00:27:26,359 --> 00:27:28,480 Speaker 3: We have a whole YouTube channel. We know it's giving 652 00:27:28,560 --> 00:27:29,400 Speaker 3: two thousand and seven. 653 00:27:29,480 --> 00:27:31,240 Speaker 2: I know I feel really fine editing those videos. It 654 00:27:31,280 --> 00:27:32,439 Speaker 2: makes me feel like I'm a YouTuber. 655 00:27:32,680 --> 00:27:33,320 Speaker 3: I love it. 656 00:27:33,440 --> 00:27:34,400 Speaker 2: We're back in that era. 657 00:27:34,720 --> 00:27:36,760 Speaker 3: You just wait until I'm holding up like my makeup 658 00:27:36,800 --> 00:27:39,280 Speaker 3: compact to the mirror. And if you've got a friend 659 00:27:39,720 --> 00:27:42,200 Speaker 3: who's portfolio maybe could use a little bit of a 660 00:27:42,280 --> 00:27:44,640 Speaker 3: glow up, this is your reminder to send it their 661 00:27:44,680 --> 00:27:45,119 Speaker 3: way or. 662 00:27:45,160 --> 00:27:46,600 Speaker 2: Running this episode to Victoria to mine. 663 00:27:46,640 --> 00:27:49,400 Speaker 3: Oh God, paradigm, I'm coming for you. All right, guys, 664 00:27:49,400 --> 00:27:50,320 Speaker 3: We'll see you on Friday. 665 00:27:50,440 --> 00:27:50,640 Speaker 1: Bye. 666 00:27:50,720 --> 00:27:58,520 Speaker 2: Friends, did buy shared on? 667 00:27:58,680 --> 00:28:01,080 Speaker 5: She's on the Money is general in nature and does 668 00:28:01,200 --> 00:28:05,120 Speaker 5: not consider your individual circumstances. She's on the Money exists 669 00:28:05,280 --> 00:28:08,440 Speaker 5: purely for educational purposes and should not be relied upon 670 00:28:08,560 --> 00:28:11,560 Speaker 5: to make an investment or financial decision. If you do 671 00:28:11,720 --> 00:28:14,680 Speaker 5: choose to buy a financial product, read the PDS TMD 672 00:28:14,880 --> 00:28:16,840 Speaker 5: and obtain appropriate financial. 673 00:28:16,480 --> 00:28:18,240 Speaker 2: Advice tailored towards your needs. 674 00:28:18,640 --> 00:28:22,560 Speaker 5: Victoria, Divine and She's on the Money are authorized representatives 675 00:28:22,640 --> 00:28:23,040 Speaker 5: of Money. 676 00:28:23,080 --> 00:28:24,679 Speaker 2: Sheoper Pty Ltd 677 00:28:24,960 --> 00:28:28,000 Speaker 5: ABN three two one is six four nine two seven 678 00:28:28,160 --> 00:28:32,000 Speaker 5: seven zero eight AFSL four five one two eight nine