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Transcript

Victoria’s 2026 Investing Playbook If She Had to Start From Zero · She's On The Money

• 0:00
  Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
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  Speaker 1: woman and I'm here to acknowledge country t Glenn Young
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  Speaker 1: Ganya Nianar Kaka yah y and Binahaka nian Ar gay
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  Speaker 1: In Mbini yakarum Jar Dominyamiga Umagahawaka Woman Damon Imlan Bumba
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  Speaker 1: ban Gadabomba in and now in wakah ghan On yak
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  Speaker 1: rum Jar water Nadaa. Hello, beautiful friends, we gather on
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  Speaker 1: the lands of the Aboriginal people. We thank acknowledge and
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  Speaker 1: respect the Aboriginal people's land that we're gathering on today.
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  Speaker 1: Take pleasure in all the land and respect all that
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  Speaker 1: you see. She's on the Money podcast acknowledges culture, country,
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  Speaker 1: community and connections, bringing you the tools, knowledge and resources
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  Speaker 1: for you to thrive.
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  Speaker 2: She's on the Money. She's on the Money.
• 1:07
  Speaker 3: Hello and welcome to She's on the Money, the podcast
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  Speaker 3: that's here to show you investing is not just for
• 1:12
  Speaker 3: the rich, It's for you too. If one of your
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  Speaker 3: goals the twenty twenty six is to start investing and
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  Speaker 3: growing your money today, I reckon, let's start together. I'm
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  Speaker 3: excited and with me is a woman who has helped
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  Speaker 3: thousands of women start investing Victoria Devine.
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  Speaker 2: Isn't that cool?
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  Speaker 3: That's really really cool.
• 1:27
  Speaker 2: That's really cool.
• 1:28
  Speaker 3: Yeah, that's great for the restime.
• 1:30
  Speaker 2: I was reflecting on that last year because I got
• 1:33
  Speaker 2: asked like, oh, how long have you been in business?
• 1:35
  Speaker 2: Because I think someone was questioning me, and I felt
• 1:38
  Speaker 2: really defensive about it, and I was like, well, I've
• 1:40
  Speaker 2: had this business since twenty sixteen, And then I was like,
• 1:44
  Speaker 2: hold on, that means in twenty twenty six I've been
• 1:46
  Speaker 2: helping people invest for ten years. Yeah, are you joking?
• 1:50
  Speaker 2: That's crazy. Age is a privilege denied to many. But
• 1:54
  Speaker 2: that made me feel really old.
• 1:56
  Speaker 1: Oh yeah, yeah.
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  Speaker 2: I was like, oh, well, when you think about it, actually, yeah,
• 2:01
  Speaker 2: actually I have been doing this a while. But I
• 2:04
  Speaker 2: love this. I love the impact that we've had. I mean,
• 2:07
  Speaker 2: she's on the money hasn't been around for ten years,
• 2:09
  Speaker 2: but me in the finance space has and that's really exciting.
• 2:12
  Speaker 2: But I adore this time of year. I feel like
• 2:15
  Speaker 2: so many of us are like setting new intentions and
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  Speaker 2: setting goals, and you know, I don't want you to
• 2:20
  Speaker 2: set unrealistic goals. That's why we're doing an episode like this.
• 2:23
  Speaker 2: But I love this period or this season because, as
• 2:27
  Speaker 2: you know, Beck, I'm not about dramatic transformation and becoming
• 2:32
  Speaker 2: a whole new person when the New Year hits, because
• 2:34
  Speaker 2: I just think it's so unrealistic. But it's more because
• 2:39
  Speaker 2: it's this time of year when people are a bit
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  Speaker 2: more open, Like you feel like you want to change.
• 2:44
  Speaker 2: I don't want you to change everything about you, but
• 2:46
  Speaker 2: you seem a little bit more open to changing your
• 2:49
  Speaker 2: financial habits and putting yourself in a better position than
• 2:52
  Speaker 2: you were in last year. I think it makes us
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  Speaker 2: very reflective, especially after such a usually expensive Christmas New
• 2:59
  Speaker 2: Years period, and we're like, oh, I really need to
• 3:01
  Speaker 2: get it together. And hopefully if you are new to
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  Speaker 2: this community, that's why you've found us, so hello and welcome.
• 3:09
  Speaker 2: But for a lot of our community, investing is something
• 3:13
  Speaker 2: that they really want to do but they haven't done yet. Yeah,
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  Speaker 2: like they haven't taken the plunge. So this episode is
• 3:18
  Speaker 2: all about helping you take those first steps and getting
• 3:21
  Speaker 2: invested because literally anyone can do it with any amount
• 3:25
  Speaker 2: of money, absolutely, and it's so empowering.
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  Speaker 3: Yeah, it really really is so exciting. But I do
• 3:31
  Speaker 3: remember you saying last year that your resolution for twenty
• 3:33
  Speaker 3: twenty five was to get more women investing. And it's
• 3:36
  Speaker 3: such a big part of our mission that she's in
• 3:37
  Speaker 3: the money going into twenty twenty six. What is the
• 3:40
  Speaker 3: why behind that for you?
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  Speaker 2: I mean, it's going to be my resolution every year.
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  Speaker 2: I think, like, I'm not going to go, oh, I
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  Speaker 2: have a different resolution, like I want more women investing
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  Speaker 2: more often, because money gives you freedom, and freedom gives
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  Speaker 2: you choices, and choices give you power. You get the
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  Speaker 2: power to choose, like, and I think a lot of
• 4:01
  Speaker 2: people are like, oh, to be nice, like I want
• 4:02
  Speaker 2: to be rich y had Like that's great, But I
• 4:04
  Speaker 2: actually just want you to have choice, choice about parenting,
• 4:08
  Speaker 2: choice about leaving a situation you don't want to be
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  Speaker 2: in any more, leading your job that you don't like,
• 4:13
  Speaker 2: you know, being out one night, not feeling safe, and
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  Speaker 2: having the choice to pay for an uber home. Like
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  Speaker 2: we're not talking about becoming millionaires, which we can. I
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  Speaker 2: will teach you, but it's actually about having freedom of choice.
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  Speaker 2: And freedom of choice is so much more powerful than
• 4:29
  Speaker 2: you think it is. And when you don't have it,
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  Speaker 2: you look at it and go that would be kind
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  Speaker 2: of cool. And when you do have it. You become
• 4:35
  Speaker 2: feastly protective of it and go, oh my god, what
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  Speaker 2: was I doing before? My entire nervous system is so
• 4:42
  Speaker 2: much more relaxed. Now, My whole body feels better just
• 4:46
  Speaker 2: because I'm not in fiight or flight all the time.
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  Speaker 2: And when you don't have access to money, beck you
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  Speaker 2: are just in that really insular situation where you're not
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  Speaker 2: feeling like you can move forward, but you're just thinking
• 4:59
  Speaker 2: about that day, and that makes you anxious. It's trash.
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  Speaker 2: No one should feel like that, and it is really
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  Speaker 2: hard to build that freedom from just having a nine
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  Speaker 2: to five Monday to Friday job where money comes in
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  Speaker 2: and then you spend it, and then you go back
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  Speaker 2: to work and then next month you get paid again.
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  Speaker 2: Your salary pays your present, right, but your investments they
• 5:20
  Speaker 2: build your future. And I want you to have a
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  Speaker 2: solid and secure future. And I don't think it's a
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  Speaker 2: secret that I care, probably too much, but I care
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  Speaker 2: insanely deeply about helping women invest because that's when magic happens.
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  Speaker 2: Like and that's maybe a little bit selfish. It feels
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  Speaker 2: so good, but when your money starts to make money,
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  Speaker 2: it's so exciting. It is that small freedom. That's you
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  Speaker 2: didn't go to work for that, Beck, Yeah, and you've
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  Speaker 2: been investing now for more than twelve months, which is insane.
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  Speaker 2: It's so cool. But even you are seeing your money
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  Speaker 2: make money and you're like, I don't have to go
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  Speaker 2: to work for that, but it's kind of cool, crazy
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  Speaker 2: to see. Yeah, And it's not the only way to
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  Speaker 2: build wealth, Like, you can build wealth by starting a business,
• 6:02
  Speaker 2: which is what I've done. Yes, you could do it
• 6:04
  Speaker 2: through property, or you could do it through angel investing,
• 6:07
  Speaker 2: but all of those things are relatively unrelatable. Like, let's
• 6:12
  Speaker 2: be honest, not all of us have the privilege of
• 6:14
  Speaker 2: being able to start a business, or the privilege of
• 6:17
  Speaker 2: being able to get onto the property market to make
• 6:19
  Speaker 2: money from it, or angel investing. Like I feel like
• 6:21
  Speaker 2: there are so many podcasts out there being like, oh
• 6:23
  Speaker 2: my god, I'd learn more about angel investing. It's where
• 6:26
  Speaker 2: you invest in other businesses. I see businesses with your capital,
• 6:30
  Speaker 2: so they don't go to a bank for a loan,
• 6:31
  Speaker 2: they go to you. And more often than not, you
• 6:34
  Speaker 2: might take a small shareholding in that business because you
• 6:37
  Speaker 2: really believe in it. But again, that's a privilege and
• 6:40
  Speaker 2: it's not that relatable, and it's fraught with so much
• 6:43
  Speaker 2: more risk than just entering the share market and doing
• 6:47
  Speaker 2: the arguably most boring option. And that's why I love
• 6:51
  Speaker 2: the share market so much and teaching women about it,
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  Speaker 2: because it's one of the most accessible places to begin
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  Speaker 2: your wealth creation journey. You have all if you think
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  Speaker 2: that stuffs sexy, same queen, but we can have that later.
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  Speaker 2: We don't need to get complex. We just need to
• 7:06
  Speaker 2: get basic. And if you're not doing basic, well, how
• 7:09
  Speaker 2: on earth do you think you're going to be really
• 7:10
  Speaker 2: good at their property market? How on earth do you
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  Speaker 2: think that you're going to angel invest if you've never
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  Speaker 2: invested in the share market once? Sure, Like to me,
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  Speaker 2: it seems insane. And the other thing that I think
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  Speaker 2: we need to touch on because I feel like I'm
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  Speaker 2: a bit randy already welcome to twenty twenty six. You
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  Speaker 2: don't need hours of your free time to commit to this.
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  Speaker 2: You don't need to like do six years of deep
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  Speaker 2: diving before we dive in. You don't need a huge income,
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  Speaker 2: you don't need a deposit, you don't need a bank
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  Speaker 2: to approve you. You just need to download an app
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  Speaker 2: and start like, Yeah, some apps you can invest with
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  Speaker 2: as little as one sent back that's so sorry. I
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  Speaker 2: cannot make it more accessible than that. And women are
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  Speaker 2: not only allowed to do this, we are wildly capable
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  Speaker 2: at doing this. Research tells us we are better at
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  Speaker 2: doing this than men. Sure, so why are you so scared?
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  Speaker 2: We are scared of dead?
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  Speaker 3: I understand because I was you and I still am. Actually,
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  Speaker 3: but as I and we.
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  Speaker 2: Were like, hold on, it's not that hard.
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  Speaker 4: If we can do it.
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  Speaker 2: You could do it just a.
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  Speaker 3: Couple of bucks every now and then. I feel like
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  Speaker 3: it's like, I'll tell you what I miss it. I
• 8:14
  Speaker 3: missed a couple bucks, but it's away. And actually, though
• 8:17
  Speaker 3: sometimes I know I often, I often do, but it's
• 8:20
  Speaker 3: a way that's like I still shouldn't access it. I
• 8:24
  Speaker 3: never at a point where I'm like, I those three
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  Speaker 3: dollars is going to it's going to save me right now,
• 8:28
  Speaker 3: it's going to put fill in on the table I can.
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  Speaker 3: I can look under my car see and find three dollars,
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  Speaker 3: you know what I mean. So it's like it's I
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  Speaker 3: would otherwise have grabbed it already if it was not
• 8:37
  Speaker 3: so out of reach. So I think it's a great
• 8:39
  Speaker 3: way to forced savings making money exactly exactly. So it's
• 8:46
  Speaker 3: a new year, so I have to ask, what are
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  Speaker 3: your personal goals with investing this year.
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  Speaker 2: So over the last twelve months, I feel like I
• 8:53
  Speaker 2: have not slipped off the investing train, but I've made
• 8:57
  Speaker 2: some pretty big money decisions in my personal life. So
• 9:01
  Speaker 2: my husband and I bought a brand new house, which
• 9:04
  Speaker 2: was more expensive than our last house, and I kind
• 9:07
  Speaker 2: of pulled back on our investing a little bit just
• 9:10
  Speaker 2: so that I could really focus on making sure that
• 9:12
  Speaker 2: we had free cash flow to pay for all the
• 9:15
  Speaker 2: incidentols and like you know, obviously settle alone and all
• 9:19
  Speaker 2: of that was well and good, but we kind of
• 9:21
  Speaker 2: pulled back on our investing journey because I was like, okay,
• 9:24
  Speaker 2: like we only have so much cash flow here. Sure, Like,
• 9:27
  Speaker 2: don't get me wrong, very fortunate and we're in a
• 9:29
  Speaker 2: very secure financial position. But I think anyone going through
• 9:33
  Speaker 2: the purchase of a new home that you know you're
• 9:35
  Speaker 2: looking at the mortgage going that's going to be a
• 9:37
  Speaker 2: lot more. Let's just pull back on other stuff so
• 9:40
  Speaker 2: that we can see how it kind of comes out
• 9:42
  Speaker 2: in the wash, and then from there we will reassess.
• 9:45
  Speaker 2: So my husband and I are going to sit down
• 9:48
  Speaker 2: soon and go, Okay, cool, this is what our cash
• 9:50
  Speaker 2: flow for the year is going to look like. This
• 9:52
  Speaker 2: is what we want to invest, this is what we
• 9:53
  Speaker 2: want to save. So we're still investing every single month,
• 9:56
  Speaker 2: but like the minimum amount that I deem septible and
• 10:00
  Speaker 2: everything else has kind of been going into our offset
• 10:03
  Speaker 2: account for now. Is that the best thing in the world,
• 10:05
  Speaker 2: Like financially no, but for my financial security and to
• 10:09
  Speaker 2: feel safe, yes, because there's just a lot of costs
• 10:13
  Speaker 2: that have come up this year or the past year
• 10:17
  Speaker 2: that I will not say are unforeseen, but like we've
• 10:19
  Speaker 2: moved into a bigger Housebecky, we now have more space.
• 10:23
  Speaker 2: I needed more furniture, like just things like that when
• 10:26
  Speaker 2: you move into a new space, you're like, oh, we
• 10:29
  Speaker 2: have a guest bedroom and no guest beds, like stuff
• 10:33
  Speaker 2: like that that you know is very first world. It's
• 10:36
  Speaker 2: not a problem. But I just want to make sure
• 10:38
  Speaker 2: that I can do that and invest and you know,
• 10:41
  Speaker 2: service our mortgage. So I think for me, it's about
• 10:44
  Speaker 2: just getting everything a little bit more smoothed. I also
• 10:47
  Speaker 2: want to get a little bit more consistent with investing
• 10:50
  Speaker 2: for my kids. So I've spoken about it on the
• 10:53
  Speaker 2: podcast before, and we have set up an investment bond
• 10:56
  Speaker 2: for Harvey and he has that and it just ticks along.
• 10:59
  Speaker 2: And when he was born, and we put a lump
• 11:00
  Speaker 2: sum of money into that investment bond because that's what
• 11:03
  Speaker 2: made sense to us. And the plan was always to
• 11:06
  Speaker 2: take his birthday and Christmas money if he gets any,
• 11:09
  Speaker 2: and pop that into the investment And right now that's
• 11:11
  Speaker 2: just sitting in a savings account. So like it's kind
• 11:14
  Speaker 2: of like cleaning house and doing what I said I
• 11:16
  Speaker 2: was going to do, and just make sure that I
• 11:17
  Speaker 2: can automate that. Because for our kids' investments, we aren't
• 11:23
  Speaker 2: investing for them every single month or anything like that.
• 11:25
  Speaker 2: I'm like, we started with a lump sum. That was
• 11:27
  Speaker 2: our strategy. Like someone else might go, oh, well, we
• 11:30
  Speaker 2: don't have that, and that's fine. We're just going to
• 11:31
  Speaker 2: do it monthly or weekly, or it might just be
• 11:33
  Speaker 2: pocket money, or it won't be at all. Because like
• 11:36
  Speaker 2: just side note, if you are not investing for yourself
• 11:39
  Speaker 2: and if you do not have an emergency fund, I
• 11:42
  Speaker 2: genuinely don't think you should be investing for your kids.
• 11:44
  Speaker 3: Yep.
• 11:45
  Speaker 2: But that's a side note. But yeah, that's that's mine. Yeah,
• 11:48
  Speaker 2: I like that. I really like that.
• 11:50
  Speaker 3: So to prepare for this episode, specifically, we did us
• 11:53
  Speaker 3: a community their biggest reasons they're not investing in the
• 11:56
  Speaker 3: share market, and I want to get your thoughts on
• 11:58
  Speaker 3: the most common responses. So fifty two percent said, I
• 12:02
  Speaker 3: don't know enough yet and it feels too confusing.
• 12:05
  Speaker 2: I broke my heart. I mean, I'm trying my best. Guys,
• 12:08
  Speaker 2: what more do you want?
• 12:09
  Speaker 3: No, I get it, you see demystify it somehow, I
• 12:11
  Speaker 3: get it.
• 12:11
  Speaker 1: I get it.
• 12:12
  Speaker 2: And for those of you in that fifty two percent, yes,
• 12:15
  Speaker 2: So not only have we got this podcast right, I
• 12:17
  Speaker 2: have a whole investing master class. But I will say
• 12:21
  Speaker 2: that is a paid option, and yes, it is really powerful.
• 12:24
  Speaker 2: And the thousands of women who have done it are
• 12:27
  Speaker 2: all investing and they are doing it really well. And
• 12:29
  Speaker 2: that's a separate community. But aside from that, I have
• 12:33
  Speaker 2: beck this is insane to me. Thousands of hours of
• 12:36
  Speaker 2: podcasts for you, and that is really overwhelming. But gin
• 12:41
  Speaker 2: what our producer Emma did for you. She has made
• 12:43
  Speaker 2: playlists on Spotify so that you can just start from
• 12:47
  Speaker 2: the basics. So I'm not sure and I cannot remember
• 12:50
  Speaker 2: what the playlist is called, but we will link it
• 12:52
  Speaker 2: in the show notes, and it will basically be an
• 12:55
  Speaker 2: end to end. Here's the beginners, because sometimes if you're
• 12:58
  Speaker 2: new to our community or your feeling a little bit
• 13:01
  Speaker 2: overwhelmed by it all, diving into an investment diary might
• 13:06
  Speaker 2: not be the best place for you to start, because
• 13:09
  Speaker 2: you've just dove into content that is all about, Oh
• 13:13
  Speaker 2: my gosh, this person has a fifty thousand dollar portfolio
• 13:16
  Speaker 2: and this is what it's made up of, and you're like, cool,
• 13:19
  Speaker 2: that's overwhelming. I actually only have one hundred dollars and
• 13:22
  Speaker 2: I don't know where to start. So we've put that
• 13:24
  Speaker 2: together so that you don't have to like sift through
• 13:26
  Speaker 2: all of our content and find something that works for you,
• 13:28
  Speaker 2: Like we're just going to give you it on a
• 13:30
  Speaker 2: silver platter and all of that is free. But I
• 13:34
  Speaker 2: feel like we also need to touch on the fact
• 13:37
  Speaker 2: that women consistently score the same as men on financial
• 13:41
  Speaker 2: literacy when they're actually tested. So why I've sat you down, Yes,
• 13:45
  Speaker 2: I gave you a test. Women are often going to
• 13:48
  Speaker 2: tell you that they will do worse, but they actually
• 13:51
  Speaker 2: do the same as men. And the difference there Becky's
• 13:54
  Speaker 2: confidence confidence, We just don't believe in ourselves in a
• 13:57
  Speaker 2: way that we should, but we.
• 13:58
  Speaker 3: Had confidence to you would probably better.
• 14:00
  Speaker 2: Yes, some like to just reflect and go what would
• 14:04
  Speaker 2: a mediocre, middle aged white man do? And then I
• 14:06
  Speaker 2: do that?
• 14:07
  Speaker 3: Yeah that's good, it's really empowering idea.
• 14:10
  Speaker 2: Yeah, like what would Craig do?
• 14:11
  Speaker 4: You know what?
• 14:13
  Speaker 2: Wouldn't ask whether he's good investing? No, No, he'd be like,
• 14:17
  Speaker 2: I'm Craig, I'm really smart. Sick at this.
• 14:20
  Speaker 3: You also just walk across the road without looking.
• 14:22
  Speaker 2: Yeah, how annoying he would. And he also doesn't say
• 14:26
  Speaker 2: thanks when he's at the bar, like he just takes
• 14:28
  Speaker 2: his beer and walks off.
• 14:29
  Speaker 3: Yeah, no, no he doesn't.
• 14:31
  Speaker 2: So like we're different because like I'd be like, thank
• 14:32
  Speaker 2: you so much for that you have a good day
• 14:35
  Speaker 2: and do for you? Yeah, exactly. Women, but women assume
• 14:40
  Speaker 2: that we need to know absolutely everything before we even
• 14:42
  Speaker 2: take the first step, which is wild because men just
• 14:45
  Speaker 2: they walk across the road.
• 14:46
  Speaker 3: They just walk across the road. You're going to stop, right, beck,
• 14:48
  Speaker 3: I'm going to wait for that light.
• 14:50
  Speaker 2: You're going to wait for the light. But like anyway,
• 14:53
  Speaker 2: they'll try something, they'll learn along the way. We need
• 14:56
  Speaker 2: to take a leaf out of that book, And the
• 14:59
  Speaker 2: truth is that hesitation is actually costing you more than
• 15:04
  Speaker 2: the small mistake that you might make. So, like, if
• 15:07
  Speaker 2: you got into the share market at the start of
• 15:09
  Speaker 2: last year and you picked a shit ETF might have
• 15:11
  Speaker 2: been one that you're like, I bought this twelve months
• 15:14
  Speaker 2: ago and we've all done this right, Like I've even
• 15:16
  Speaker 2: done this in my own portfolio. I'm like, why is
• 15:18
  Speaker 2: she there?
• 15:19
  Speaker 3: Yeah?
• 15:20
  Speaker 2: What where were your values? At Victoria? Devin Like, why
• 15:22
  Speaker 2: did you pick that? And it might have been TikTok hype.
• 15:25
  Speaker 2: It might have been me just googling stuff and seeing
• 15:28
  Speaker 2: like their marketing and being like, oh, this is the
• 15:29
  Speaker 2: best ETF. I'm going to pick this. So Beck, the
• 15:33
  Speaker 2: small amount that you're going to have lost on that
• 15:35
  Speaker 2: quote wrong ETF or wrong share, that's a learning. That's
• 15:39
  Speaker 2: a lesson, and I can almost guarantee that in the wash,
• 15:43
  Speaker 2: it doesn't matter. So you can pick the wrong thing
• 15:45
  Speaker 2: to start, but you're already in the game, yeah, and
• 15:47
  Speaker 2: then you can shuffle it around and work out what
• 15:50
  Speaker 2: actually fits with your values and sell that and work
• 15:52
  Speaker 2: out what's going on. Because if you are waiting until
• 15:55
  Speaker 2: you feel quote ready, that usually means you're gonna wait
• 15:58
  Speaker 2: forever because even starting with like ten dollars gives you
• 16:03
  Speaker 2: something Google can't, and that is experience, Like something that
• 16:07
  Speaker 2: has stuck with me and I think it was like
• 16:08
  Speaker 2: a bloody Instagram. Quote ready is not a feeling ready
• 16:12
  Speaker 2: as a choice. Yeah, okay, Okaydy, you don't steal ready.
• 16:16
  Speaker 2: I've never felt ready to do anything. Sure, it's always
• 16:20
  Speaker 2: been all right, We're just going to do it. Yeah, okay, Like, yeah,
• 16:24
  Speaker 2: what would it mean for you to feel quote ready
• 16:26
  Speaker 2: you know everything? Okay, Well, how are you going to
• 16:28
  Speaker 2: know everything if you have no experience?
• 16:31
  Speaker 3: Yeah, like you learn on the job.
• 16:33
  Speaker 2: Beck, totally. So I think it's so important that you
• 16:36
  Speaker 2: know that you don't need perfect knowledge. You don't need
• 16:38
  Speaker 2: to have read ten books. You just need to have
• 16:40
  Speaker 2: read mine. No I'm joking, But you don't need to
• 16:44
  Speaker 2: understand every single investment under the sun and pick the
• 16:47
  Speaker 2: best one ever. You just need to know enough Beck
• 16:50
  Speaker 2: to take the first step.
• 16:51
  Speaker 3: Yes, absolutely agree. But yeah, honestly, like once you start
• 16:55
  Speaker 3: and once you download chares you or whatever platform you
• 16:58
  Speaker 3: want to use, and you start googling all these different things,
• 17:01
  Speaker 3: because it is really really daunty when you go in
• 17:04
  Speaker 3: so beings to choose from. But I just started googling
• 17:07
  Speaker 3: everything and then just kind of went from there and
• 17:09
  Speaker 3: just googled the most I don't know, popular stock and
• 17:12
  Speaker 3: then kind of just went from there or ETF. But yeah,
• 17:14
  Speaker 3: your journey is your own. But yeah, forel free to
• 17:17
  Speaker 3: reach out to us, listen to all the episodes we have,
• 17:20
  Speaker 3: and then maybe do the investing masterclass. So this next
• 17:23
  Speaker 3: stat is I guess like a little bit lower, but
• 17:26
  Speaker 3: twenty four percent of people said it, I don't feel
• 17:28
  Speaker 3: like I have enough money to start, which is also
• 17:31
  Speaker 3: obviously so valid, valid, so valid. But you can start
• 17:34
  Speaker 3: with one dollar.
• 17:35
  Speaker 2: And I mean, I'm going to flip this back to
• 17:36
  Speaker 2: you in a hot second. Yeah, you don't get rich
• 17:39
  Speaker 2: and then invest back. I have not met somebody, and
• 17:42
  Speaker 2: do you know what, put your hand up, call me,
• 17:44
  Speaker 2: come on the show. I got rich from saving Never
• 17:48
  Speaker 2: heard it. No, nobody gets rich from putting their money
• 17:51
  Speaker 2: in a savings account. Sure, really sorry. You might have
• 17:54
  Speaker 2: three hundred thousand dollars, but it hasn't grown, it hasn't compounded,
• 17:58
  Speaker 2: And leave that three hundred thousand dollars in a savings
• 18:01
  Speaker 2: account for the next ten years and a guarantee to
• 18:03
  Speaker 2: be worth less. Wow, like time value of money is
• 18:08
  Speaker 2: so improved, Like you need to invest to build wealth. Yeah,
• 18:13
  Speaker 2: but if we go back to twenty four percent, that's
• 18:16
  Speaker 2: a lot of people, that's a quarter of our community
• 18:19
  Speaker 2: who feel like they don't have enough money to invest.
• 18:22
  Speaker 2: Bet how much did you start your investing journey with.
• 18:24
  Speaker 3: Free ten dollars by using the code is a code
• 18:27
  Speaker 3: word or SUTM ten. Yeah, that's I got free ten dollars.
• 18:33
  Speaker 3: I so I started with zero dollars exactly, So you
• 18:35
  Speaker 3: didn't have anything to invest.
• 18:37
  Speaker 2: You used literual free money, which you know not actually
• 18:39
  Speaker 2: meant to be a promo for us, but like you
• 18:41
  Speaker 2: didn't actually have any money to invest, you just decided,
• 18:45
  Speaker 2: I'm going to start with a free ten bucks and
• 18:47
  Speaker 2: see what happens. Cool. And then after that, what was
• 18:51
  Speaker 2: your first contribution?
• 18:53
  Speaker 3: And then after that, I genuinely think it was like
• 18:55
  Speaker 3: five dollars a few weeks later, and so I and
• 18:58
  Speaker 3: then I turned on the order roundups in my bank,
• 19:02
  Speaker 3: and so every now and then five dollars keeps going in,
• 19:05
  Speaker 3: going in, going in, And then you felt comfy with that,
• 19:07
  Speaker 3: felt comfy and like some people you can turn on
• 19:09
  Speaker 3: or to invest, which means that money just automatically go somewhere.
• 19:12
  Speaker 3: But I have now SA's paralysis, and I just don't
• 19:16
  Speaker 3: know what to choose. So I spend a lot of
• 19:17
  Speaker 3: time doing that, but somehow it's really built up a time.
• 19:21
  Speaker 2: So how much is in your investment portfolio?
• 19:23
  Speaker 3: Now? I genuinely think it's like fourteen hundred dollars.
• 19:26
  Speaker 2: Fourteen hundred dollars isn't that crazy? But okay, let's reframe this.
• 19:32
  Speaker 2: If I said, Beck, you need fourteen hundred dollars to invest,
• 19:35
  Speaker 2: when what have you started?
• 19:37
  Speaker 3: I still wouldn't have I still would not have started.
• 19:39
  Speaker 2: But it's easy to start with a free ten dollars
• 19:41
  Speaker 2: and then go, oh, this feels good, and then you
• 19:43
  Speaker 2: invest five bucks. Like we're not talking thousands here, but
• 19:47
  Speaker 2: from little things, big things grow. And I'm so sorry,
• 19:49
  Speaker 2: Paul Kelly, I'm going to use your quote a million
• 19:52
  Speaker 2: times over. But there is a platform that will fit
• 19:56
  Speaker 2: your investing journey. So Beck, you're on sharees Ease. Yes,
• 20:00
  Speaker 2: I don't think it's any secret in our community. You
• 20:03
  Speaker 2: need to go do your own research and work out
• 20:04
  Speaker 2: what platform works best for you. But when we look
• 20:07
  Speaker 2: at something like Chazy's you can literally invest a dollar. Yeah, absolutely,
• 20:12
  Speaker 2: Like you don't have to even start with my discount,
• 20:14
  Speaker 2: which by the way, is not a referral link. I
• 20:16
  Speaker 2: get nothing for that. You just get a free ten dollars.
• 20:19
  Speaker 2: But like, starting small is fine. In fact, i'd prefer
• 20:22
  Speaker 2: you to start small because it doesn't feel scary, Like
• 20:25
  Speaker 2: I want you to be like, well, that was so
• 20:26
  Speaker 2: inconsequential and didn't feel scary. Good, do it again, Do
• 20:30
  Speaker 2: it again, do it again, and then and then you
• 20:32
  Speaker 2: keep doing it again, and then it's at fourteen hundred dollars.
• 20:35
  Speaker 2: Holy guacamole, that's at four figures. Yeah, at some point
• 20:40
  Speaker 2: that's going to be like a ten thousand dollars investment.
• 20:42
  Speaker 2: And that's so exciting because it's compounding, and when it's small,
• 20:47
  Speaker 2: it's just so smart. Well, I think it's just so
• 20:50
  Speaker 2: smart to start small, even if you've been saving up
• 20:53
  Speaker 2: for years, right, Like you've been saving you're like, oh
• 20:55
  Speaker 2: my god, like and I've met people in our community
• 20:58
  Speaker 2: like this. They're like, the I've got like fifty grand
• 21:00
  Speaker 2: and in my account, Queen, that's amazing, Like I really
• 21:03
  Speaker 2: want to invest it, but like, I just don't know
• 21:05
  Speaker 2: what in I'm like start with a dollar. Yes, you've
• 21:08
  Speaker 2: got fifty thousand, we can get that into the share market.
• 21:12
  Speaker 2: But like, I would never recommend you go and drop
• 21:15
  Speaker 2: your first fifty grand into the market on the first day. Sure,
• 21:19
  Speaker 2: you're gonna shot yourself pack.
• 21:21
  Speaker 3: Yeah that's to be so scared.
• 21:22
  Speaker 2: What if next week the market drops, you think that
• 21:25
  Speaker 2: you'd made the worst mistake ever. You take all your
• 21:27
  Speaker 2: money out and never look at investing again.
• 21:29
  Speaker 3: Yeah, that's so true.
• 21:30
  Speaker 2: If it was five dollars here and there and you're
• 21:32
  Speaker 2: watching the market eb and flow. Yeah, sorry, what matters
• 21:36
  Speaker 2: isn't the size of your first investment. It's building that
• 21:39
  Speaker 2: investing habit which Beck has and now she's a little
• 21:42
  Speaker 2: consistent investor. Ah, that's so crazy, And that's way cooler
• 21:46
  Speaker 2: then waiting until you're rich.
• 21:48
  Speaker 3: And also, it just kind of feels like a game.
• 21:50
  Speaker 3: It's really fun. I love opening it up. I'm kind
• 21:52
  Speaker 3: of checking it as much as I check it Instagram,
• 21:54
  Speaker 3: you know. So another thing that came up a lot
• 21:56
  Speaker 3: in the comments was that it kind of felt too risky,
• 21:59
  Speaker 3: like it felt a gamble or something.
• 22:00
  Speaker 2: It's nothing like gambling, like not like gambling, And I
• 22:04
  Speaker 2: like it. I get that narrative because it's come from
• 22:07
  Speaker 2: people who don't understand investing. Talk to anybody in finance
• 22:11
  Speaker 2: and be like, is investing gambling? Not one of you
• 22:14
  Speaker 2: will agree, Like, not one person in the finance industry will.
• 22:17
  Speaker 2: Your hairdresser might, your mechanic might, a doctor might. Smart
• 22:21
  Speaker 2: people might that have no education around financial literacy might.
• 22:25
  Speaker 2: But where's that narrative coming from to begin with? Yeah,
• 22:28
  Speaker 2: why do you think it is risky?
• 22:30
  Speaker 3: Yeah?
• 22:31
  Speaker 2: Oh, because my uncle's friend's brother's dog invested during the
• 22:35
  Speaker 2: GFC and you know, lost everything. I get it, But like,
• 22:39
  Speaker 2: let's look at the things that he held. They were
• 22:41
  Speaker 2: arguably probably very risky because if they had purchased the
• 22:45
  Speaker 2: ASX top two hundred, or if they had purchased the
• 22:48
  Speaker 2: S and P five hundred, you wouldn't have lost money
• 22:51
  Speaker 2: if you'd stayed invested. In fact, you would have made
• 22:53
  Speaker 2: more money because there was such a big market drop.
• 22:56
  Speaker 2: If you held on while the rollercoaster was going down,
• 22:59
  Speaker 2: and you will willing to write it back up, you
• 23:02
  Speaker 2: are rich now. People lose money because they pull out
• 23:06
  Speaker 2: of things when things seem scary. People lose money because
• 23:10
  Speaker 2: they make investments that probably weren't aligned to their risk profile.
• 23:14
  Speaker 2: All investment is going to come with risk and reward. Right,
• 23:18
  Speaker 2: there's a whole risk reward chart That is true for
• 23:22
  Speaker 2: every asset class, including the cash sitting in your bank.
• 23:26
  Speaker 2: There is risk and reward. There's low risk with the
• 23:29
  Speaker 2: cash sitting in your bank. Yeh, there's low reward as well.
• 23:32
  Speaker 2: Inflation is more than your saving. True, buying property has risks.
• 23:38
  Speaker 2: In fact, I would say in twenty twenty six, buying
• 23:41
  Speaker 2: property has more risks than it did thirty years ago.
• 23:44
  Speaker 2: Starting a business massive risk, massive rewards if it goes well.
• 23:49
  Speaker 2: Putting your money into the shere market has risk. The
• 23:52
  Speaker 2: question isn't is their risk? The question is how do
• 23:55
  Speaker 2: we manage for risk? The question is how much risk
• 23:58
  Speaker 2: are you willing to take on? Not gambling? Gambling, it's
• 24:02
  Speaker 2: just risky. The odds are terrible, like if.
• 24:05
  Speaker 3: That's the true.
• 24:05
  Speaker 2: It's how you make money, yeah, exactly. And the share
• 24:08
  Speaker 2: market isn't there to just like take advantage of you
• 24:11
  Speaker 2: and make money from you. The share market benefits when
• 24:13
  Speaker 2: you make money, Yeah, the share market does not benefit
• 24:16
  Speaker 2: when you're losing money, beck, because they're losing money too
• 24:19
  Speaker 2: astronomical amounts of it. True. Gambling they make money when
• 24:24
  Speaker 2: you lose money.
• 24:25
  Speaker 3: Exactly.
• 24:25
  Speaker 2: In the share market, they don't make money when you
• 24:27
  Speaker 2: lose money. They lose more than you, and they're pretty
• 24:30
  Speaker 2: bist about it.
• 24:31
  Speaker 3: Yes, yes, yes, yes, exactly.
• 24:33
  Speaker 4: Yes.
• 24:34
  Speaker 2: If you put all of your money into one company
• 24:36
  Speaker 2: that you saw some guy on TikTok talking about guaranteeing,
• 24:39
  Speaker 2: there's absolutely gonna blow up. Yeah, that's high risk. I
• 24:43
  Speaker 2: would argue that that's very close to gambling because he
• 24:47
  Speaker 2: has not even studied finance. He's just got a big
• 24:49
  Speaker 2: yapp in mouth. That's not the kind of investing that
• 24:53
  Speaker 2: we talk about in this house, Beck, That is not
• 24:55
  Speaker 2: what we do. We are talking about diversification. We are
• 24:58
  Speaker 2: talking about stables, strong, steady companies. We love a blue
• 25:02
  Speaker 2: chip stock. We love something that is so boring but consistent,
• 25:07
  Speaker 2: Like I just want to know that they're going to
• 25:08
  Speaker 2: be at dinner on time.
• 25:10
  Speaker 3: Yeah.
• 25:11
  Speaker 2: When you diversify, which means spreading all of your money
• 25:16
  Speaker 2: across lots of different companies and industries, you dramatically decrease
• 25:21
  Speaker 2: your risk. Now, that doesn't mean go and just like
• 25:24
  Speaker 2: buy heaps of random companies and like hold it in
• 25:27
  Speaker 2: your portfolio, because you are not an investing expert, and
• 25:31
  Speaker 2: diversification doesn't just mean going and buying like, what's thirty
• 25:34
  Speaker 2: different random companies and hoping one of them works out.
• 25:37
  Speaker 2: Diversification is being smart about it. It is going away
• 25:41
  Speaker 2: all right, well, I'm not good at this. Maybe an
• 25:44
  Speaker 2: ETF is the best possible way for me. I know
• 25:47
  Speaker 2: that if I purchase this particular ETF, it's going to
• 25:50
  Speaker 2: be the top performing one hundred companies in Australia. Or
• 25:54
  Speaker 2: I know this ETF is really great tech companies because
• 25:58
  Speaker 2: someone has gone and Q rated that list for me
• 26:01
  Speaker 2: who is an investing expert. Yep. So diversification is important.
• 26:06
  Speaker 2: Don't just got go oh all of my eggs in
• 26:08
  Speaker 2: random baskets in companies that people have never heard about.
• 26:12
  Speaker 2: But a broad ETF, if you're starting, can often be
• 26:15
  Speaker 2: a really great choice because it gives you tiny slices
• 26:19
  Speaker 2: of hundreds of companies. And that's the opposite of gambling.
• 26:23
  Speaker 2: That's the definition of risk management.
• 26:26
  Speaker 3: Got you okay?
• 26:27
  Speaker 2: And we're managing our risk by taking people's advice who
• 26:31
  Speaker 2: know what they're talking about. The dramatic risk that people
• 26:35
  Speaker 2: picture when it comes to shares is like the whole
• 26:38
  Speaker 2: market collapsing and never ever coming back. Yeah, this kind
• 26:41
  Speaker 2: of sounds.
• 26:41
  Speaker 3: Scary, right, doesn't sound scary.
• 26:43
  Speaker 2: But historically, after every single major crash in history back,
• 26:49
  Speaker 2: not just like recent in history, in the history of
• 26:52
  Speaker 2: all of the share markets in all of the world. Yeah,
• 26:55
  Speaker 2: markets have recovered and they've gone to hit new heis crazy.
• 26:58
  Speaker 2: They've gone all the way down to the bottom, and
• 27:00
  Speaker 2: everyone absolutely cacks it. Yes, and then if you stay
• 27:04
  Speaker 2: on the roller coaster, you make even more money. You
• 27:07
  Speaker 2: know what.
• 27:08
  Speaker 3: That's so great? When I see a market dip, a
• 27:10
  Speaker 3: lot of people do panic. Don't panic bye panicking in
• 27:12
  Speaker 3: the dip.
• 27:13
  Speaker 2: Go look at the research, go look at the history.
• 27:15
  Speaker 2: And we always have to say past performance is not
• 27:17
  Speaker 2: a reliable ridictor of future performance, because I need to
• 27:20
  Speaker 2: make sure that you're not, you know, assuming that things
• 27:24
  Speaker 2: will always happen the same way. Because there has also
• 27:27
  Speaker 2: never been a market dip that has replicated the last
• 27:31
  Speaker 2: market dip. So like if we go back to global
• 27:34
  Speaker 2: financial these are like the more recent ones. But if
• 27:36
  Speaker 2: we could go all the way back to the recession,
• 27:38
  Speaker 2: right recession, global financial crisis, the Great Depression, we could
• 27:43
  Speaker 2: talk about the COVID dip. None of the things that
• 27:47
  Speaker 2: have happened historically have replicated themselves because the market grows
• 27:51
  Speaker 2: and learns and then like kind of risk protects themselves
• 27:55
  Speaker 2: to make sure that particular thing doesn't happen again. But
• 27:57
  Speaker 2: something else might happen. But we always want to rebuild.
• 28:00
  Speaker 2: So it's not just about Beck losing money. Multimillion dollar,
• 28:04
  Speaker 2: multi billion dollar companies are losing money, and they are
• 28:07
  Speaker 2: putting the smartest people at the top of those companies
• 28:10
  Speaker 2: to go, you fix this, You get this ship back
• 28:13
  Speaker 2: on the road, and they do. It takes a while,
• 28:17
  Speaker 2: but we have never not seen a market recover from
• 28:20
  Speaker 2: a crash and then make even more money. Yeah, like
• 28:23
  Speaker 2: that's crazy. It's a pretty good deal, I reckon. And
• 28:26
  Speaker 2: the most overlooked risk is actually just doing nothing. So
• 28:31
  Speaker 2: like that can be a really good thing because, like
• 28:33
  Speaker 2: you know, if the market's crashing, Beck, I would hope
• 28:36
  Speaker 2: that you don't panic and pull your money out and
• 28:38
  Speaker 2: we do nothing. That's a really good plan. But if
• 28:41
  Speaker 2: you're not doing anything to begin with, and all of
• 28:43
  Speaker 2: your money is sitting in a savings account and it's
• 28:45
  Speaker 2: losing buying power every single year, Queen, that's a loss.
• 28:49
  Speaker 2: That's a guaranteed loss. That's so if your money is
• 28:52
  Speaker 2: sitting in your savings account, I actually don't even need
• 28:55
  Speaker 2: to caveat this. I can guarantee in ten years it
• 28:58
  Speaker 2: will buy you so much stuff. It's not going to
• 29:02
  Speaker 2: have the same power that it had today. God, she's
• 29:04
  Speaker 2: so so annoying, aren't I? No, No, it's so true.
• 29:08
  Speaker 2: That's cool. It feels safe. It feels secure right now
• 29:11
  Speaker 2: because it just right there and you can touch it.
• 29:13
  Speaker 3: It would be worthless one be worthless. God, I did
• 29:16
  Speaker 3: sorry about that.
• 29:17
  Speaker 2: It feels safe right now because it's not moving right.
• 29:21
  Speaker 2: I feel like you get to the beach and you're
• 29:23
  Speaker 2: standing on the pier and you're like, well, the boat's
• 29:24
  Speaker 2: not rocking, So like I feel quite safe standing on
• 29:26
  Speaker 2: the pier. Yes, the boat's going to go over there
• 29:28
  Speaker 2: and you you won't be able to get to the boat. Yeah, yeah, yeah,
• 29:33
  Speaker 2: guaranteed loss. Just not doing anything is putting future you
• 29:37
  Speaker 2: at a massive disadvantage. Fair.
• 29:39
  Speaker 3: Okay, So we're going to go to a really quick
• 29:41
  Speaker 3: break and when we get back via I'm going to
• 29:42
  Speaker 3: get to the juicy stuff.
• 29:44
  Speaker 2: We're not in the juicy stuff of mee to keep
• 29:46
  Speaker 2: your money.
• 29:46
  Speaker 3: Yeah, we're there to be grilled on how you would
• 29:49
  Speaker 3: be investing in twenty twenty six if you had to
• 29:50
  Speaker 3: start again.
• 29:51
  Speaker 2: Oh yeah, so I got no investments, you got.
• 29:55
  Speaker 3: Nothing, all right? All right, right, so don't go anywhere. Okay, guys,
• 30:02
  Speaker 3: we are back Envy. I need you to hear me
• 30:05
  Speaker 3: for just just one second, right, so close your eyes
• 30:08
  Speaker 3: and imagine when you open them, you're still you. Okay,
• 30:12
  Speaker 3: same brain, same experience, but every doll you've ever invested
• 30:15
  Speaker 3: is gone. So you're like completely saying from scratch, it's
• 30:17
  Speaker 3: a bit trash. And so for the rest of this episode,
• 30:19
  Speaker 3: I want you. I want to know exactly how that.
• 30:22
  Speaker 2: Version of Victoria would invest, like the not past Victoria,
• 30:26
  Speaker 2: how she started and grew her portfolio. But like, I
• 30:30
  Speaker 2: have no money in investments at all.
• 30:32
  Speaker 3: Nothing.
• 30:33
  Speaker 2: Do I have any money in my savings account?
• 30:35
  Speaker 3: You maybe you have in your savings yet, but no,
• 30:37
  Speaker 3: you don't have any much I.
• 30:38
  Speaker 2: Get in my savings account. I have no houses, no houses,
• 30:42
  Speaker 2: have no assets. All right, I'm in, But of course
• 30:45
  Speaker 2: I want to give everybody a remind. I feel like
• 30:48
  Speaker 2: this could very easily teeter onto financial advice. But you're
• 30:51
  Speaker 2: not going to see it that way, are you. No,
• 30:53
  Speaker 2: I'm going to answer these questions. For me, this is
• 30:57
  Speaker 2: what I would do personally if I was starting over
• 31:00
  Speaker 2: with the knowledge and the skills and the research and
• 31:02
  Speaker 2: the tools that I have now for me personally, Yes,
• 31:05
  Speaker 2: not what somebody who has the same five hundred dollars
• 31:09
  Speaker 2: we might. I don't know what your example is going
• 31:11
  Speaker 2: to be, but not what everyone should do, what Victoria
• 31:13
  Speaker 2: would do. Okay, Okay, it's just a great idiot because
• 31:16
  Speaker 2: I feel like I don't want to give financial advice.
• 31:19
  Speaker 2: I don't need to start my twenty twenty six off
• 31:22
  Speaker 2: with an accusage. No, just we don't need it. We
• 31:26
  Speaker 2: don't need that idea. The energy were welcome.
• 31:28
  Speaker 3: Yeah, So this is purely Victoria's kind of advice for
• 31:33
  Speaker 3: herself and not for anyone else.
• 31:35
  Speaker 2: It's not advice, it's just what a Victoria would do.
• 31:37
  Speaker 2: It's what you would do. I wear rose gold jewelry,
• 31:41
  Speaker 2: but not everyone likes rose gold jewels exactly.
• 31:44
  Speaker 3: Exactly, Okay, So a few other points to give in
• 31:47
  Speaker 3: mind for the rest of this episode. Also, you are
• 31:49
  Speaker 3: like a typical she's the money community member. So you
• 31:53
  Speaker 3: want financial freedom and to build wealth. You can't go
• 31:57
  Speaker 3: all in in the share market because you have other
• 31:59
  Speaker 3: fund your responsibilities too, but you can afford a small
• 32:04
  Speaker 3: amount each week. Okay, you have too much going on
• 32:06
  Speaker 3: in your life to make investing your whole personality.
• 32:08
  Speaker 2: Oh do you relate to that? Not really, No, it's
• 32:12
  Speaker 2: going to be hard because I feel like investing is
• 32:14
  Speaker 2: my whole personality. Feel free to come to brunch with me.
• 32:18
  Speaker 2: But I'm ready, I'm ready ready. Yeah, okay, Okay, definitely
• 32:22
  Speaker 2: not my personality you're talking about. I'm actually really cool.
• 32:25
  Speaker 3: She's really cool, you guys, I've become really really investing.
• 32:30
  Speaker 3: When we ask the community about why they were investing,
• 32:32
  Speaker 3: a few said they are prioritizing paying everything on their
• 32:35
  Speaker 3: mortgage instead. And I've already said that you have other
• 32:38
  Speaker 3: financial responsibilities. So let's say one of them is a mortgage.
• 32:41
  Speaker 2: Okay, I get to keep my house in this situation,
• 32:43
  Speaker 2: that's not exactly you do.
• 32:44
  Speaker 3: In this situation, would you, say, be putting a small
• 32:47
  Speaker 3: amount of money into the share market and why?
• 32:49
  Speaker 2: Yeah? Yeah I would?
• 32:51
  Speaker 3: Yeah, Okay, Okay, so I have a mortgage, you have
• 32:53
  Speaker 3: a more, you don't have you don't have heaps of
• 32:56
  Speaker 3: disposable income.
• 32:57
  Speaker 2: No, no, no, no, And but like in my person
• 33:00
  Speaker 2: no situation you've taken everything from me. But I still
• 33:02
  Speaker 2: have my mortgage. And even though my mortgage is very
• 33:06
  Speaker 2: large and it's a very big financial responsibility for my family,
• 33:10
  Speaker 2: I'm still investing. Yes, because Okay, if I had a
• 33:15
  Speaker 2: mortgage and had money left over after making those repayments.
• 33:18
  Speaker 2: Because like, also, there are going to be people in
• 33:20
  Speaker 2: our community, and this is me. They're not giving advice
• 33:22
  Speaker 2: on me. I'm like, oh, but caveat these caveat that.
• 33:25
  Speaker 2: They are going to be people in our community who
• 33:26
  Speaker 2: want to invest and have a mortgage, but they don't
• 33:28
  Speaker 2: have the free cash flow. That's cool. We've got to
• 33:31
  Speaker 2: do what we've got to do. But like in this example,
• 33:33
  Speaker 2: I've got my mortgage and I have free cash flow.
• 33:36
  Speaker 2: I'm just going to pretend I've got one hundred bucks
• 33:39
  Speaker 2: a month. Is that fair? Like that feels like a
• 33:42
  Speaker 2: good amount, but like not too much. But also some
• 33:44
  Speaker 2: people might not have a hundred, but some people might
• 33:46
  Speaker 2: have five hundred. But I feel like one hundred. It's
• 33:48
  Speaker 2: just a round number, all right, Yeah, that's so fair.
• 33:50
  Speaker 2: It could be a dollar last week, it could be
• 33:51
  Speaker 2: a dollar, it could be two dollars anyway, yep. But
• 33:53
  Speaker 2: if I had a mortgage and had that amount of
• 33:55
  Speaker 2: money left over, I'd still be putting it into the
• 33:58
  Speaker 2: share market because from a financial strategy perspective, I don't
• 34:03
  Speaker 2: want all of my wealth tied up in one asset.
• 34:06
  Speaker 2: I also, I am a very firm believer that your
• 34:08
  Speaker 2: family home is not an asset that can be relied
• 34:12
  Speaker 2: upon for wealth creation. Because even if we get to
• 34:15
  Speaker 2: sixty and my husband and I have paid off our
• 34:18
  Speaker 2: house in its entirety and were completely mortgage free, that
• 34:22
  Speaker 2: would be so hot, that would be really cool. But
• 34:25
  Speaker 2: if we're completely mortgage free, and let's pretend my house
• 34:29
  Speaker 2: is tripled in value, to access that value, I actually
• 34:34
  Speaker 2: have to sell my house and move somewhere else. I
• 34:36
  Speaker 2: don't want to sell my house. I want to have
• 34:39
  Speaker 2: other assets so I can stay in the house that
• 34:40
  Speaker 2: I've actually worked for the last thirty years to pay
• 34:43
  Speaker 2: off and I love, and I don't want to move.
• 34:45
  Speaker 2: And even if my house is worth triple, every other
• 34:49
  Speaker 2: house in the area is probably also worth triple. Yeah,
• 34:52
  Speaker 2: so I could sell my house and have a tree
• 34:55
  Speaker 2: change or a sea change, but I don't want to
• 34:58
  Speaker 2: do that. Most people don't write like you buy your
• 35:01
  Speaker 2: family home and you've created all these memories in it.
• 35:04
  Speaker 2: I don't want to have to sell that asset to
• 35:06
  Speaker 2: still be able to afford to live. I think it's
• 35:08
  Speaker 2: important to continue to invest on the side because if
• 35:12
  Speaker 2: you wait until your mortgage is feeling like really comfortable, go,
• 35:16
  Speaker 2: you're losing five, ten, maybe fifteen years of compounding interest.
• 35:21
  Speaker 2: That's money that your money makes. And at the moment,
• 35:24
  Speaker 2: my mortgage is sitting at about five percent and the
• 35:27
  Speaker 2: share market on average returns between nine point five and
• 35:30
  Speaker 2: eleven percent.
• 35:30
  Speaker 1: Yeah.
• 35:31
  Speaker 2: True, So if I'm going to pay stuff off, I'd
• 35:33
  Speaker 2: actually prefer to have my mortgage for a little bit longer, betch,
• 35:37
  Speaker 2: and be in debt for longer because it's good debts
• 35:39
  Speaker 2: creating wealth. It's like for a big asset, it's not
• 35:41
  Speaker 2: personal debt for sure, and also be investing alongside and
• 35:44
  Speaker 2: making my investing money work for me. So that means
• 35:48
  Speaker 2: that starting sooner would be a priority. So this extra
• 35:51
  Speaker 2: hundred dollars that I could afford to invest or I
• 35:54
  Speaker 2: could afford to put on my mortgage to me personally,
• 35:57
  Speaker 2: is going to have more power in the share market.
• 35:59
  Speaker 2: So I'm choosing to put it in the share market.
• 36:01
  Speaker 3: Yeah that makes sense, Okay, love that, love that. So
• 36:04
  Speaker 3: we've established that you do want to start investing in
• 36:06
  Speaker 3: twenty twenty six, what is the first thing you would do?
• 36:08
  Speaker 2: But it's just so unsexy. I thought that I was
• 36:11
  Speaker 2: going to become cool girl, but I've just gone back
• 36:13
  Speaker 2: to being nerdy girl. And that's fine. I'm actually going
• 36:16
  Speaker 2: to do a budget because, like if I want to
• 36:17
  Speaker 2: commit exciting, like I've said to you that I want
• 36:20
  Speaker 2: to commit to this one hundred dollars a month, But
• 36:22
  Speaker 2: have I worked out what my son's birthday presents are
• 36:25
  Speaker 2: going to be? Have I worked out what my car
• 36:27
  Speaker 2: insurance in red Roe for twenty twenty six is going
• 36:29
  Speaker 2: to be. Everything's going to change a bit, like you know,
• 36:32
  Speaker 2: when was the last time I renegotiated my phone plan?
• 36:35
  Speaker 2: So I want to do my budget and make sure
• 36:36
  Speaker 2: that if I said I have one hundred dollars, I
• 36:39
  Speaker 2: actually do. Because if you're putting money into the share market,
• 36:42
  Speaker 2: I don't want you to have to pull it out.
• 36:43
  Speaker 2: So we just want to make sure that the money
• 36:45
  Speaker 2: that we put aside we don't have to touch. So
• 36:48
  Speaker 2: I've decided I've done my budget and that number does
• 36:51
  Speaker 2: fit into my life, so I can do that, and
• 36:53
  Speaker 2: if you haven't done your budget yet, I'm so sorry.
• 36:56
  Speaker 2: I'll give you permission. You're having a date night with yourself,
• 37:00
  Speaker 2: like nice little ball of wine. If you don't jump, fine,
• 37:02
  Speaker 2: get a nice cup of tea. Go to my website
• 37:05
  Speaker 2: and download the free budget that is on there and
• 37:08
  Speaker 2: do that. I've made it as user friendly as possible. Ye, Like,
• 37:11
  Speaker 2: I promise it's not as overwhelming as you think it is.
• 37:14
  Speaker 2: It will show you very clearly what's coming in, what's
• 37:17
  Speaker 2: going out, and what's left that you can build this
• 37:18
  Speaker 2: habit with. And that's what I'm going to do. That's
• 37:21
  Speaker 2: like you're telling me, I'm starting from scratch. I've got
• 37:22
  Speaker 2: this mortgage, I don't know where my stuff is. I
• 37:24
  Speaker 2: don't know where my money is. I don't invest. But
• 37:26
  Speaker 2: once I've worked out that weekly or fortnightly or monthly number,
• 37:29
  Speaker 2: even if it's tiny, that becomes my starting point. Compounding
• 37:33
  Speaker 2: only works, beck if you stay in the game. That's
• 37:36
  Speaker 2: why we need to know what that number is and
• 37:37
  Speaker 2: then we don't pull it out because if you pull
• 37:39
  Speaker 2: it out fruitless. Yeah. I'm here to make money, and
• 37:42
  Speaker 2: I'm here to make my money make money, and I
• 37:44
  Speaker 2: want that to be consistent consistency matters more than your enthusiasm. Yeah,
• 37:49
  Speaker 2: you can be so excited, but if you haven't budgeted properly,
• 37:54
  Speaker 2: that excitement is going to turn into disappointment real quick. Next,
• 37:58
  Speaker 2: I would be making sure that my financeial foundations are
• 38:01
  Speaker 2: staying strong. So I'm not investing if I don't have
• 38:03
  Speaker 2: an emergency fund. So I'm just going to audit. Have
• 38:06
  Speaker 2: I got an emergency fund?
• 38:08
  Speaker 3: True?
• 38:08
  Speaker 2: Most people want between three and six months worth of expenses,
• 38:11
  Speaker 2: so I'm going to make sure my husband and I
• 38:13
  Speaker 2: have that before I start. I'm going to make sure
• 38:15
  Speaker 2: that I can pay my bills and cover all of
• 38:17
  Speaker 2: the essentials because I'm investing for the long term. Like,
• 38:21
  Speaker 2: I just don't want to be ever in a situation
• 38:23
  Speaker 2: where I am forced to sell my investments because life
• 38:27
  Speaker 2: through a curve ball my way. That's what your emergency
• 38:29
  Speaker 2: fund is for. Before I invest a single dollar as well,
• 38:34
  Speaker 2: I'd really want to be clear on my goals, because
• 38:37
  Speaker 2: your goals to side your strategy, not the other way around.
• 38:40
  Speaker 2: Because investing, if you've gone beck, I want to retire
• 38:44
  Speaker 2: at forty, that is very different in terms of strategy
• 38:47
  Speaker 2: than if you were like, well, actually, I'm investing so
• 38:50
  Speaker 2: that when my kids turn twenty five, I can give
• 38:54
  Speaker 2: them a house deposit. Yeah, Like that's a different strategy
• 38:56
  Speaker 2: again because they require different amounts and require different access points.
• 39:01
  Speaker 3: Absolutely, Okay, so this is kind of a big one.
• 39:05
  Speaker 3: We're now in like the we're now in the research phase.
• 39:08
  Speaker 3: I need to know what you're doing to avoid analysis
• 39:11
  Speaker 3: paralysis if if we're being real, I got a little
• 39:14
  Speaker 3: bit of that. Okay, so I'll play into that a
• 39:16
  Speaker 3: little bit. But that can't control our narrative. That can't
• 39:19
  Speaker 3: stop us. I'd be giving myself some boundaries. So in
• 39:24
  Speaker 3: the same way that if you're at UNI or if
• 39:28
  Speaker 3: you're at school and you have an assignment due so
• 39:31
  Speaker 3: crazy how you can whip out a whole assignment if
• 39:35
  Speaker 3: the due.
• 39:35
  Speaker 2: Date is Friday. We are giving ourselves a due date
• 39:38
  Speaker 2: of when we want to start investing. So we aren't
• 39:42
  Speaker 2: just talking about like, oh, I'm going to do my
• 39:44
  Speaker 2: hundred dollars a month. We are talking I'm going to
• 39:46
  Speaker 2: do one hundred dollars a month, and I want to
• 39:48
  Speaker 2: make my first investment by the twenty eighth of February. Well,
• 39:52
  Speaker 2: you know what, that's too far away. By the end
• 39:54
  Speaker 2: of January and you can then go learn all of
• 39:58
  Speaker 2: the basics of ETFs of diversification, understand the fees, like
• 40:03
  Speaker 2: you're going to spend a couple of hours on these,
• 40:04
  Speaker 2: probably like just deep diving, hopefully on your laptop while
• 40:07
  Speaker 2: you watch like Real Housewives of Salt Lake City, which
• 40:10
  Speaker 2: I'm obsessed with, and then you're going to make a
• 40:12
  Speaker 2: few decisions. The decisions that you make today for these
• 40:16
  Speaker 2: ETFs might not align to future you, and that is okay,
• 40:20
  Speaker 2: because they're going to teach you what future you wants. Yeap,
• 40:24
  Speaker 2: Beginners don't need to understand everything. Beginners just need to
• 40:29
  Speaker 2: understand enough to be dangerous. You just need to understand
• 40:32
  Speaker 2: enough to get started. My mum used to always tell me, Victoria,
• 40:37
  Speaker 2: you do not need to know everything in the world,
• 40:39
  Speaker 2: but you need to know enough to be dangerous. And
• 40:42
  Speaker 2: I'll be like, what does that mean? And basically, I
• 40:45
  Speaker 2: just need to know enough about everything so that I
• 40:47
  Speaker 2: could walk into a meeting. Let's pretend I'm walking into
• 40:50
  Speaker 2: a meeting because I'm building a brand new house with
• 40:51
  Speaker 2: an architect. I need to kind of know what he
• 40:54
  Speaker 2: does as his job. You know what the biggest pitfalls
• 40:56
  Speaker 2: in the industry are and the questions I need to
• 40:59
  Speaker 2: ask him. I don't need to know how he does
• 41:00
  Speaker 2: his job, but I need to be able to walk
• 41:02
  Speaker 2: in and decipher whether he's the architect for me or not.
• 41:05
  Speaker 2: I need to go in and be like, oh, cool,
• 41:06
  Speaker 2: so how did your last project finish? Or hey, so
• 41:09
  Speaker 2: what would this look like? Or what hidden fees and
• 41:12
  Speaker 2: expenses might exist in this process? For me, you need
• 41:15
  Speaker 2: to know enough to ask the questions that are going
• 41:17
  Speaker 2: to cover your butt. Yeah, but you don't need to
• 41:20
  Speaker 2: know the ins and outs of absolutely everything. Okay, and
• 41:23
  Speaker 2: that is fine. We have created and you know not
• 41:26
  Speaker 2: gonna be surprised by this another playlist on Spotify, but
• 41:29
  Speaker 2: it is the investing playlist with all of our investing
• 41:32
  Speaker 2: episodes that I will make sure he is in the
• 41:34
  Speaker 2: show notes for you. But we also have an investing
• 41:37
  Speaker 2: resource hub on our website that I will link as
• 41:39
  Speaker 2: well with heaps of free resources money win. I also
• 41:44
  Speaker 2: want to narrow my options early, so like analysis paralysis
• 41:49
  Speaker 2: happens when we stay way too diversified for too long,
• 41:53
  Speaker 2: like as in our thoughts not diversified in the share market,
• 41:56
  Speaker 2: but like you're looking at, let's say, instead of researchach
• 42:00
  Speaker 2: twenty five different ETFs. That's wild. I would never I
• 42:04
  Speaker 2: didn't even use to research twenty five ETFs for my
• 42:07
  Speaker 2: clients when I was a financial advisor. Beck, that's astronomical. Yeah,
• 42:11
  Speaker 2: I'd actually be going, okay, cool, what are my values?
• 42:14
  Speaker 2: Oh what are my resources like?
• 42:16
  Speaker 4: For me?
• 42:17
  Speaker 2: I already know in my head that I would want
• 42:20
  Speaker 2: something Australian, and then I probably want some international market diversification.
• 42:25
  Speaker 2: So I'm going to narrow those options early, and I'm
• 42:27
  Speaker 2: going to take a look at a few Australian ETFs,
• 42:30
  Speaker 2: a few global ones, compare those and pick from it.
• 42:33
  Speaker 2: And that's it. We're not looking at twenty five options.
• 42:36
  Speaker 3: No, if you can help it.
• 42:39
  Speaker 2: And I mean, I've definitely looked at more than twenty
• 42:40
  Speaker 2: five options. But you shouldn't even have twenty five options
• 42:43
  Speaker 2: in your portfolio. So whatever the temptation is, a deep
• 42:46
  Speaker 2: dive every single technical detail because you want to feel empowered,
• 42:50
  Speaker 2: is going to be really strong, especially for women, because
• 42:53
  Speaker 2: we are so conditioned to feeling like we need to
• 42:57
  Speaker 2: know everything back before we even get started. Go you don't,
• 43:01
  Speaker 2: you actually don't. Some of the best investors I know
• 43:03
  Speaker 2: were like, oh, so yeah, I just heard about this
• 43:06
  Speaker 2: app one time downloaded it. You just looked up Australian
• 43:10
  Speaker 2: ETF and now my portfolio is like, I don't know
• 43:12
  Speaker 2: one hundred grand And you're like, how exactly where did
• 43:15
  Speaker 2: you get the audacity your first investment. Yeah, it's just
• 43:19
  Speaker 2: a starting point. It's not a lifelong commitments getting married
• 43:22
  Speaker 2: to it.
• 43:22
  Speaker 3: No, you can change it any time. So what are
• 43:25
  Speaker 3: the three things you would make sure you understand before
• 43:27
  Speaker 3: you started me?
• 43:29
  Speaker 2: Okay, I want to understand me before you even look
• 43:32
  Speaker 2: at a platform, before you even look at an ETF,
• 43:35
  Speaker 2: before you even understand what ETF means. What's your risk profile?
• 43:40
  Speaker 2: Are you a real conservative or are you really risky?
• 43:44
  Speaker 2: I'm pretty risky. For this, We'll just pretend I'm mediocre,
• 43:49
  Speaker 2: like and I'm sitting in the middle, which I feel
• 43:51
  Speaker 2: like most of our shees on the money community are
• 43:54
  Speaker 2: sitting in a growth like situation because I've surveyed so
• 43:57
  Speaker 2: many of you. But your risk profile isn't about being
• 44:01
  Speaker 2: brave or being cautious. It's actually about knowing how much
• 44:05
  Speaker 2: movement you can emotionally tolerate. Yeah, the market is psychological
• 44:10
  Speaker 2: and you hate to hear it, but it's literally psychological
• 44:13
  Speaker 2: and you need to work out how much you can
• 44:15
  Speaker 2: emotionally tolerate losing without panicking or feeling really tempted to sell.
• 44:21
  Speaker 2: Because if I said to you, Beck, sign into your
• 44:23
  Speaker 2: Shares's account right now, have a look. You think it's
• 44:25
  Speaker 2: at about fourteen hundred dollars, how would you feel if
• 44:28
  Speaker 2: it was under one thousand dollars.
• 44:30
  Speaker 3: It would be scary, but I think I would be like,
• 44:31
  Speaker 3: this is a good time to buy.
• 44:33
  Speaker 2: Okay, And that's the right mindset. You'll feel that pit
• 44:37
  Speaker 2: in the bottom of their stomach and freak out and
• 44:39
  Speaker 2: be like, oh my god, I need to get out,
• 44:41
  Speaker 2: I need to sell. We need more education in that
• 44:43
  Speaker 2: particular situation. But we need to know how much you
• 44:46
  Speaker 2: can tolerate it going up and down, because yes, it's
• 44:49
  Speaker 2: so exciting when you log in and maybe that fourteen
• 44:51
  Speaker 2: hundred dollars was sixteen hundred dollars, you'll be like, oh
• 44:53
  Speaker 2: my god, sligh, but like you can equally lose money. Yeah,
• 44:58
  Speaker 2: And it's the EBB and the flow of every day
• 45:01
  Speaker 2: that we need to understand. So your risk profile is
• 45:03
  Speaker 2: really important. I'd also want to understand, well, what does
• 45:06
  Speaker 2: normal market behavior look like? Because you know how I say, Oh,
• 45:09
  Speaker 2: what can you tolerate? You're like, why would you be
• 45:12
  Speaker 2: asking me what would happen if my share portfolio dropped
• 45:15
  Speaker 2: in value by twenty percent tomorrow? Right, It's just to
• 45:18
  Speaker 2: give you an example. But like, go look at what
• 45:20
  Speaker 2: the market does. On average. The market crashes every seven years.
• 45:25
  Speaker 2: Can you handle that? Yeah? On average, the market ebbs
• 45:28
  Speaker 2: and flows. Sometimes Donald Trump says something wild and the
• 45:34
  Speaker 2: market goes insane. Go have a look at that and
• 45:38
  Speaker 2: see what happens after those events happen. Yeah, they recover. Yeah,
• 45:43
  Speaker 2: So I'm going to get really comfortable with that because
• 45:46
  Speaker 2: some people, when they see a drop, they might interpret
• 45:49
  Speaker 2: it in a way that they go, oh, my goodness,
• 45:52
  Speaker 2: something is wrong. But I don't interpret it that way.
• 45:57
  Speaker 2: I'd literally see it as part of how the market works.
• 46:00
  Speaker 2: If you know ahead of time that your investment I
• 46:03
  Speaker 2: guarantee beck one day you're going to log any and
• 46:05
  Speaker 2: you're going to be disappointed with it. It is going
• 46:07
  Speaker 2: to decline, and declines are expected, but they are also temporary.
• 46:13
  Speaker 2: You are far less likely to then sell on a
• 46:15
  Speaker 2: bad day and lock in a loss. And then the
• 46:18
  Speaker 2: last thing I want you to understand is diversification. You
• 46:20
  Speaker 2: are not putting all of your eggs in one basket.
• 46:23
  Speaker 2: It is really about spreading your money across lots of
• 46:25
  Speaker 2: different companies and markets so that you're not relying on
• 46:28
  Speaker 2: any single thing to perform perfectly. You just need overall
• 46:33
  Speaker 2: consistent performance from a market. It's one of literally the
• 46:37
  Speaker 2: simplest ways to manage risk. It's how I manage risk
• 46:40
  Speaker 2: in my portfolio. It's how every single one of my
• 46:42
  Speaker 2: ex financial advice clients managed risk. It's how anybody in
• 46:45
  Speaker 2: the market manages risks. Warren Buffett manages risk this way,
• 46:49
  Speaker 2: like everybody who's good in investing does this right, especially
• 46:53
  Speaker 2: when you are starting out, and broad ETF actually does
• 46:56
  Speaker 2: that for you automatically, so you don't even have to
• 46:58
  Speaker 2: think about it. Beck. So for me, I think it
• 47:01
  Speaker 2: comes down to those three things. So understanding myself, understanding
• 47:06
  Speaker 2: how markets move and what their behaviors look like or
• 47:09
  Speaker 2: what the behavior of a market looks like, and understanding
• 47:12
  Speaker 2: how diversification is a protection for me. And once I
• 47:16
  Speaker 2: have those pieces, I think that investing feels a lot
• 47:19
  Speaker 2: less overwhelming. Yeah okay, okay.
• 47:22
  Speaker 3: I love that. So what's something you wouldn't bother stressing
• 47:24
  Speaker 3: about at the start, I'm not picking a perfect investment.
• 47:27
  Speaker 2: Yeah, yeah, yeah, I'm just picking a investment. In fact,
• 47:29
  Speaker 2: a perfect investment doesn't exist.
• 47:31
  Speaker 3: Yeah.
• 47:31
  Speaker 2: If it did, i'd be so rich, beck, Yeah, because
• 47:33
  Speaker 2: I would have worked about But historically, and this is
• 47:36
  Speaker 2: backed by data, a basic diversified ETF has beaten like
• 47:42
  Speaker 2: it's performed better than most active investors over the long term.
• 47:47
  Speaker 2: So if you take an ETF, just one single product
• 47:50
  Speaker 2: and compare it to someone who is like going and
• 47:52
  Speaker 2: picking individual stocks and shares and trading them consistently and
• 47:56
  Speaker 2: looking their portfolio all the time, the ETF still does better. Yeah. Annoying, right, annoying.
• 48:03
  Speaker 2: But I also wouldn't stress about trying to time the
• 48:06
  Speaker 2: market because like you didn't tell me that I had
• 48:09
  Speaker 2: a really big lump sum that I need to invest.
• 48:12
  Speaker 2: I'm just going to start investing tomorrow. I'm not worried, Like, yes,
• 48:15
  Speaker 2: I need to understand what the market's doing, but I'm
• 48:17
  Speaker 2: not going to go, oh, the market's down this week,
• 48:19
  Speaker 2: all the market's up this week. I'm just going to
• 48:20
  Speaker 2: chuck my first hundred bucks in and then I'm going
• 48:23
  Speaker 2: to do that every month. Yeah, and I'm just going
• 48:25
  Speaker 2: to do that consistently, because you cannot predict what the
• 48:29
  Speaker 2: market is going to do next month. You are not
• 48:31
  Speaker 2: going to predict the perfect moment to buy. Not even
• 48:35
  Speaker 2: experts do that well. Sadly they don't want to hear that,
• 48:38
  Speaker 2: but they don't do it well because you can't time
• 48:40
  Speaker 2: the market. So starting now with very small, very consistent
• 48:44
  Speaker 2: contributions is actually going to beat trying to time the market.
• 48:49
  Speaker 2: In fact, if I might not get this start right,
• 48:52
  Speaker 2: but I can find it for you to make an
• 48:53
  Speaker 2: Instagram post about it. But if we look over a
• 48:56
  Speaker 2: thirty year period of somebody who has tried to time
• 48:59
  Speaker 2: them market and they miss the four biggest days in
• 49:03
  Speaker 2: the market because they were like waiting the biggest day happened,
• 49:06
  Speaker 2: they invested the next day, compared to somebody who just
• 49:09
  Speaker 2: like dropped their money in every month consistently and didn't
• 49:12
  Speaker 2: care those four biggest days make up more than fifty
• 49:15
  Speaker 2: percent of their portfolio performance. Yeah, I see, so dumb,
• 49:20
  Speaker 2: just invest consistently. I don't know how to tell you this.
• 49:22
  Speaker 2: You can't time the market.
• 49:24
  Speaker 1: Yeah.
• 49:24
  Speaker 2: If somebody could time the market, beck, I would be
• 49:28
  Speaker 2: deep diving and learning how to do that because I
• 49:30
  Speaker 2: am nerdy as all get out, and I would want
• 49:32
  Speaker 2: to do that myself, and I don't even do all
• 49:35
  Speaker 2: days specific days, and just like that's the average of
• 49:38
  Speaker 2: like how many days are Like it's insane. Just stay
• 49:41
  Speaker 2: invested instantly.
• 49:42
  Speaker 3: Another answer we got when we asked why people weren't
• 49:45
  Speaker 3: investing was that they were stuck on the platform. So
• 49:48
  Speaker 3: how are you choosing yours? And what features are you
• 49:51
  Speaker 3: looking for?
• 49:52
  Speaker 2: So platform is hard because I think investors care too
• 49:56
  Speaker 2: much about which platform they use. Yeah, okay, so you go,
• 50:00
  Speaker 2: oh my god, I'm gonna go and take the four
• 50:03
  Speaker 2: biggest platforms in Australia and I'm going to compare them all,
• 50:06
  Speaker 2: and then you start caring about the tiny nuances that
• 50:09
  Speaker 2: you don't even understand and you get analysis paralysis when
• 50:12
  Speaker 2: in reality, Download two, Download three, I don't care. Play
• 50:17
  Speaker 2: with the app, see how the app performs. I invest
• 50:20
  Speaker 2: on Chairza's, You invest on chair Za's. It wasn't the
• 50:23
  Speaker 2: only And I have a lot of investing platforms, so
• 50:26
  Speaker 2: I probably have upwards of like fifteen investing platforms just
• 50:29
  Speaker 2: because I'm a nerd and I want to make sure
• 50:30
  Speaker 2: that if like you, as a she'ese on the money,
• 50:32
  Speaker 2: listener messages me and goes, oh, I'm with this niche one.
• 50:35
  Speaker 2: I'm like, oh, I've had a turn. I have five
• 50:37
  Speaker 2: bucks on that tax time is so trash for me.
• 50:40
  Speaker 2: My accountant wants to kill me. I'm pretty sure because
• 50:42
  Speaker 2: I'm like, here is all of my investing stuff, and
• 50:45
  Speaker 2: he's like, why do you have five dollars on that
• 50:46
  Speaker 2: random platform? I'm like, just like an access it, just
• 50:49
  Speaker 2: so they can talk to my community about it. But
• 50:51
  Speaker 2: like most of my money is sitting on chair Z's
• 50:53
  Speaker 2: And the reason for that is I just like the app.
• 50:56
  Speaker 2: I like the way that it works, I like it's interface,
• 50:59
  Speaker 2: I like it it's re se and I know that
• 51:02
  Speaker 2: through trial and error. Yeah, because I've downloaded them and
• 51:05
  Speaker 2: how to play with them and decided that maybe isn't
• 51:07
  Speaker 2: for me. And I really like practical things. So you
• 51:11
  Speaker 2: might go, oh, I want to be with self Wealth,
• 51:13
  Speaker 2: and I go, great, go with self Wealth. Minimum investment
• 51:17
  Speaker 2: to even start on the platform's five hundred dollars. Yeah,
• 51:20
  Speaker 2: Well that's probably not going to work because I already
• 51:23
  Speaker 2: told you that I only have one hundred dollars a
• 51:24
  Speaker 2: month in free cash flow, so that platform's probably not
• 51:27
  Speaker 2: for me. Sure, That's fine because I actually don't want that.
• 51:32
  Speaker 2: Maybe you're really interested in fees, like for me, pay
• 51:37
  Speaker 2: peanuts get monkeys, So like, I'm not worried about getting
• 51:40
  Speaker 2: the lowest fees. Ever, I'm worried about getting value in
• 51:44
  Speaker 2: exchange for my fees.
• 51:45
  Speaker 3: Sure.
• 51:45
  Speaker 2: So if a platform is more expensive, but it gives
• 51:48
  Speaker 2: me access to like additional research, and like I like
• 51:51
  Speaker 2: the tools and the resources, and I'm investing more because
• 51:53
  Speaker 2: of that. That's a good investment, right, So I want
• 51:56
  Speaker 2: good value, not necessarily the cheapest. The cheapest platform on
• 52:00
  Speaker 2: is pointless if I hate using it or I find
• 52:02
  Speaker 2: it confusing or overwhelming, so it needs features that I want.
• 52:07
  Speaker 2: I also personally want an app that's easy to navigate.
• 52:10
  Speaker 2: I don't like again, and I'm not throwing self Wealth
• 52:13
  Speaker 2: under the bus. I have Self Wealth then for years
• 52:15
  Speaker 2: when I was a financial advisor, that was my primary platform.
• 52:18
  Speaker 2: But they are definitely more old school. It's not got
• 52:21
  Speaker 2: a good user interface on my phone. If I'm you know,
• 52:25
  Speaker 2: on the train and I want to invest one hundred dollars,
• 52:28
  Speaker 2: I can just do it through the Sharesy's app. So
• 52:29
  Speaker 2: app was really important to me. And if it's clunky
• 52:32
  Speaker 2: or I hate using it. I don't want to be
• 52:34
  Speaker 2: put off investing. Yes, and then for me, I'm an
• 52:39
  Speaker 2: adhd girlye. So automation is literally my savior. For some people,
• 52:44
  Speaker 2: you really like doing it manually, pop off Queen, could
• 52:46
  Speaker 2: never be me, Like, if we're talking about this hundred
• 52:49
  Speaker 2: dollars back, I'm setting up a direct debit every month
• 52:51
  Speaker 2: for the one hundred dollars and then I'm just like
• 52:53
  Speaker 2: not thinking about it too deeply easy does the platform
• 52:56
  Speaker 2: order invest? So automation for me is the biggest behavior
• 52:59
  Speaker 2: hack for anything when it comes to your money. Cool. Yeah,
• 53:03
  Speaker 2: So for me, like out of sight, out of mind,
• 53:05
  Speaker 2: and if I forgot to do it and it immediately
• 53:07
  Speaker 2: happens because I set it up last time. Yeah, things
• 53:10
  Speaker 2: past me you're looking at for the future. Me absolutely.
• 53:13
  Speaker 3: Okay, So it's time to make your first investment or investments.
• 53:18
  Speaker 3: What are you choosing in? Why?
• 53:19
  Speaker 2: Something really exotic and complicated? Okay, My first investment, honestly
• 53:24
  Speaker 2: is so boring. I reckon. I would probably just pick
• 53:28
  Speaker 2: one ETF. I know that in my portfolio. If I'm
• 53:31
  Speaker 2: starting from scratch, I probably want at least two ETFs.
• 53:34
  Speaker 2: I want an Australian one, and I want an international one,
• 53:37
  Speaker 2: but I'm not going to split this early. I'm just
• 53:39
  Speaker 2: going to get one. So I'm probably going to pick
• 53:43
  Speaker 2: an Australian one just because it feels a little bit safer,
• 53:45
  Speaker 2: a little bit less rocky. Not in a bad way,
• 53:48
  Speaker 2: but like I just I live in Australia. I feel
• 53:51
  Speaker 2: very comfortable with the list of brands on an Australian
• 53:54
  Speaker 2: ETF because, like, they're brands I've seen and know, So
• 53:56
  Speaker 2: my first investment's really boring. I'm looking probably for an
• 54:00
  Speaker 2: ETF that's broad and diversified in a good way, so
• 54:05
  Speaker 2: that I get exposure to a really big chunk of
• 54:07
  Speaker 2: the market instantly. I'm looking Yeah, locally, it might be
• 54:13
  Speaker 2: an ETF that tracks the Australian market, so it could
• 54:17
  Speaker 2: be something like an ASX Top two hundred, so I
• 54:21
  Speaker 2: might be investing in banks, mining, healthcare, retail companies that
• 54:26
  Speaker 2: I interact with every day. That feels kind of comfy.
• 54:29
  Speaker 2: Why Because at this stage we're not chasing returns. I'm
• 54:33
  Speaker 2: just chasing consistency. Yeah, I'm trying to blow the market
• 54:37
  Speaker 2: out of the water. Sure, we're trying to turn my
• 54:39
  Speaker 2: one hundred dollars into one thousand dollars in the first year.
• 54:42
  Speaker 2: Just one hundred dollars needs to be consistent and a
• 54:46
  Speaker 2: broad ETF is going and give me that diversification. It's
• 54:49
  Speaker 2: going to feel relatively low stress, and it's going to
• 54:52
  Speaker 2: take the pressure off me to pick anything like perfect
• 54:55
  Speaker 2: and it becomes the foundation that I can then build
• 54:58
  Speaker 2: from later. I've created that habit and I feel more
• 55:02
  Speaker 2: confident making decisions. I could maybe have a few things
• 55:06
  Speaker 2: that are a little bit more fun, but I'm starting
• 55:07
  Speaker 2: boring honestly.
• 55:09
  Speaker 3: Yep. Now you go to it by but all of
• 55:11
  Speaker 3: a sudden you freeze and you're overwhelmed by fear. What
• 55:14
  Speaker 3: are you telling yourself to overcome this?
• 55:16
  Speaker 2: Well, I'm not rescuing my life savings. If I am,
• 55:20
  Speaker 2: I'm not doing it.
• 55:21
  Speaker 3: Yeah.
• 55:21
  Speaker 2: Like, if that one hundred dollars is your life savings,
• 55:23
  Speaker 2: cut that out, Yeah, go build your emergency fund. Like
• 55:27
  Speaker 2: I'm genuine about that too. Like investing is my biggest
• 55:30
  Speaker 2: passion in life. You should not be doing it unless
• 55:32
  Speaker 2: you have a level of foundational financial security. I'm putting
• 55:37
  Speaker 2: I would argue a small manageable amount into a diversified
• 55:41
  Speaker 2: investment so that I can learn by doing it. Do
• 55:45
  Speaker 2: you know what if I lost absolutely everything? If I
• 55:47
  Speaker 2: lost one hundred dollars, but I gained a heap of
• 55:50
  Speaker 2: education and knew what to do better and different next time.
• 55:54
  Speaker 2: I actually think that's a good deal of sal Yep.
• 55:57
  Speaker 2: I'd remind myself that this isn't a lifelong commitment putting
• 56:01
  Speaker 2: one hundred dollars into an ETF. I have spent more
• 56:05
  Speaker 2: on espresso martinis for my girlfriends on a night out. Like,
• 56:11
  Speaker 2: contextualize it. And if you're going Victoria, one hundred dollars,
• 56:13
  Speaker 2: are you kidding? That's an astronomical amount. Don't start with that.
• 56:17
  Speaker 2: Then start with five dollars. I think all of us
• 56:21
  Speaker 2: can be relatively frivolous when it comes to money. What's
• 56:25
  Speaker 2: your frivolous amount? Start there?
• 56:27
  Speaker 3: Yep.
• 56:27
  Speaker 2: If one hundred dollars feels too much, don't do it.
• 56:30
  Speaker 2: Do it with twenty dollars and start there. Do it
• 56:32
  Speaker 2: with ten dollars. Do it with the free ten dollars
• 56:35
  Speaker 2: you can get if you use our discount code, like
• 56:37
  Speaker 2: on a discount code, referral code, or whatever we want
• 56:39
  Speaker 2: to call it. And I also would remind myself, like,
• 56:41
  Speaker 2: this is really normal like being scared of something is normal.
• 56:46
  Speaker 2: Every single investor feels that for the first time. Like
• 56:49
  Speaker 2: you don't just go I'm amazing. I'm an amazing investor.
• 56:54
  Speaker 2: I just invested my first one hundred dollars and I
• 56:55
  Speaker 2: had no qualms and wasn't even worried. Just doesn't happen.
• 56:59
  Speaker 2: You're always a little bit like, Oh, I just don't
• 57:02
  Speaker 2: want to do the wrong thing. Yeah, who cares if
• 57:05
  Speaker 2: you did the wrong thing, we can fix it later.
• 57:07
  Speaker 2: I can sell that and buy something that's more in
• 57:10
  Speaker 2: line with a different value set that you have. Yeah,
• 57:12
  Speaker 2: And I'd remind myself of the research and go, oh
• 57:16
  Speaker 2: my god, Victoria Devine, you are playing into the stereotype.
• 57:20
  Speaker 2: Cut that out, because women score just as high on
• 57:23
  Speaker 2: financial literacy as men. The thing that we underestimate is ourselves. Yeah,
• 57:28
  Speaker 2: what are you doing in that moment when you're like, oh,
• 57:30
  Speaker 2: I don't know what I'm doing underestimating yourself. So I'd
• 57:33
  Speaker 2: have a good hard look in the mirror and be like,
• 57:35
  Speaker 2: Victoria Devine, get it together. Fear does not mean that
• 57:38
  Speaker 2: we are not ready. It just means that we care.
• 57:41
  Speaker 2: And caring is cool. Yeah, I want you to care
• 57:43
  Speaker 2: about your financial future. I want you to care about
• 57:46
  Speaker 2: future you. You caring and you being fearful is because
• 57:49
  Speaker 2: you want future you to be in a better position. Right,
• 57:52
  Speaker 2: So you're scared to make that decision. I get it
• 57:54
  Speaker 2: because we don't want to disadvantage ourselves. So true, but
• 57:57
  Speaker 2: you're not what would Craig do? Exactly all Craig do.
• 58:01
  Speaker 2: And finally, I would then remind myself that the hardest
• 58:05
  Speaker 2: part is actually that first purchase. Yeah, once you press
• 58:08
  Speaker 2: by once, then you're like, oh, okay, I'm in the game.
• 58:13
  Speaker 2: I'm an investor, your investor. That's it.
• 58:15
  Speaker 3: Then it becomes addictive for a little bit. So you've
• 58:17
  Speaker 3: made your first investment. Now looking forward to the rest
• 58:20
  Speaker 3: of the year, what are your goals in your first
• 58:22
  Speaker 3: year and what are you putting in place to keep
• 58:23
  Speaker 3: yourself on track throughout the year.
• 58:25
  Speaker 2: As I said to you, I want to just be consistent.
• 58:27
  Speaker 2: I'm not chasing massive returns. So I'm staying consistent and
• 58:30
  Speaker 2: I'm automating it because can't be trusted. Yeah, and even
• 58:33
  Speaker 2: if you can be trusted, just automate it. It makes
• 58:36
  Speaker 2: your life easier. Let's life admin. Let's life admin more
• 58:40
  Speaker 2: life better. You're also going to ignore the daily noise
• 58:44
  Speaker 2: at the start. I get it. You're going to look
• 58:45
  Speaker 2: at the investing app every day. It's fine, it's novel,
• 58:48
  Speaker 2: it's new, Yeah, but like just don't consistently check it
• 58:51
  Speaker 2: if it's fueling your anxiety. I'm going to add to
• 58:55
  Speaker 2: my education slowly, so as you said, I'm just a
• 58:57
  Speaker 2: community member. I'm not Victoria. I'm going to listen to
• 59:00
  Speaker 2: my podcast maybe every week. I'm going to listen to
• 59:03
  Speaker 2: a podcast, or I'm going to read an article, just
• 59:06
  Speaker 2: one idea at a time. We're not trying to like
• 59:08
  Speaker 2: oversaturate ourselves. Like you don't need to cram, like you're
• 59:12
  Speaker 2: like going to an exam on Friday and you need
• 59:15
  Speaker 2: to get as much information in as possible, in fact,
• 59:18
  Speaker 2: all of that information. Did you ever do that at
• 59:20
  Speaker 2: school where you just like crammed the night before, or
• 59:23
  Speaker 2: you like crammed for a week and then had an
• 59:25
  Speaker 2: exam and then if I asked you about it two
• 59:27
  Speaker 2: weeks later, you forgot all the information. Absolutely, so dumb.
• 59:30
  Speaker 2: Don't do that. Just small consistent pieces of information will
• 59:33
  Speaker 2: stick better with you absolutely, And then build out an
• 59:36
  Speaker 2: entire portfolio slowly, not immediately, So you know how I
• 59:40
  Speaker 2: said before, like I want at least two ETFs in
• 59:43
  Speaker 2: that because if I've only got a hundred bucks, but
• 59:46
  Speaker 2: I'm going to purchase one to start with. So we're
• 59:48
  Speaker 2: going to start with simple and then we can expand
• 59:51
  Speaker 2: once our habit is strong. So you know, for the
• 59:53
  Speaker 2: first couple of months, I might just do you know,
• 59:56
  Speaker 2: my first month might be one hundred dollars on that,
• 1:00:00
  Speaker 2: and then I might go, oh, I'm going to buy
• 1:00:02
  Speaker 2: an international one the second month, so then I've got two,
• 1:00:05
  Speaker 2: and then maybe every month after that, i might split
• 1:00:08
  Speaker 2: it like fifty dollars in each, and then I might
• 1:00:11
  Speaker 2: have I don't know, we'll get to one thousand dollars
• 1:00:14
  Speaker 2: after like ten months, right then I might go, oh,
• 1:00:17
  Speaker 2: maybe this month I'll do a little like satellite investment
• 1:00:21
  Speaker 2: or something. Or I might buy a share that my
• 1:00:23
  Speaker 2: friends and I've been talking about and I just want
• 1:00:25
  Speaker 2: to have a little bit exposure. But I'm going to
• 1:00:27
  Speaker 2: take ten bucks out of my one hundred dollars and
• 1:00:29
  Speaker 2: I'm going to buy you know, might be a beauty
• 1:00:31
  Speaker 2: company or something that we're both like really passionate about
• 1:00:34
  Speaker 2: or something. I'm going to buy that. But I'm going
• 1:00:35
  Speaker 2: to then still split the amount between my base because
• 1:00:38
  Speaker 2: I want to have that core satellite approach. I want
• 1:00:40
  Speaker 2: to have really strong foundation and then you can have
• 1:00:44
  Speaker 2: fun too. But also, you don't have to have fun
• 1:00:46
  Speaker 2: if you don't want to. If you're not an investing
• 1:00:49
  Speaker 2: girly in the same way that I am, where I
• 1:00:51
  Speaker 2: love deep diving on individual shares, you might be like,
• 1:00:54
  Speaker 2: what's the point, Oh, you don't have to do the
• 1:00:56
  Speaker 2: satellite part. You could just always have those two ETFs
• 1:00:58
  Speaker 2: and you'll be fine coin sure. But if you want
• 1:01:01
  Speaker 2: to have more fun because you've gotten interested in it, sure,
• 1:01:03
  Speaker 2: then you can do that too.
• 1:01:04
  Speaker 3: Absolutely, what is the one thought you were making. Victoria
• 1:01:07
  Speaker 3: who's starting from scratch knows about that.
• 1:01:09
  Speaker 2: It's boring, boring, boring wins, Yes, yes, absolutely, like simple
• 1:01:16
  Speaker 2: it's usually the winner. Absolutely, And I don't want to
• 1:01:19
  Speaker 2: tell you that because that sounds boring. But diversified strategy
• 1:01:23
  Speaker 2: is going to get you further than trying to be clever. Yeah,
• 1:01:26
  Speaker 2: you're trying to be clever. Sometimes it just falls over.
• 1:01:29
  Speaker 2: One of the most powerful things that you can do
• 1:01:31
  Speaker 2: when it comes to investing is time in the market.
• 1:01:34
  Speaker 2: I can't yell that enough. It's time in the market.
• 1:01:37
  Speaker 2: Not timing the market. The earlier you start, the less
• 1:01:40
  Speaker 2: you will have to invest over the long term of
• 1:01:42
  Speaker 2: your own money to get to your goal. Do it,
• 1:01:45
  Speaker 2: get it, go invest What are you doing?
• 1:01:47
  Speaker 3: This has been so motivating, and that's exactly the energy
• 1:01:50
  Speaker 3: we want you to take into twenty twenty six. You're
• 1:01:52
  Speaker 3: not behind, You've not missed your window. Your fresh start
• 1:01:55
  Speaker 3: can literally be today right now.
• 1:01:56
  Speaker 2: I think that there's this misconception that you feel behind
• 1:01:59
  Speaker 2: and they go, oh, I'm starting from scratch, and we've
• 1:02:01
  Speaker 2: used that a little bit today. You've been like the
• 1:02:04
  Speaker 2: if you were starting from scratch, what would you do?
• 1:02:06
  Speaker 2: And I don't love that terminology, Like, I'm not starting
• 1:02:09
  Speaker 2: from Scratchbeck, I'm starting from here. Like I don't want
• 1:02:12
  Speaker 2: you to feel like you're behind. You're not behind. If
• 1:02:15
  Speaker 2: you've never invested before, you're not behind anybody. You're actually
• 1:02:18
  Speaker 2: only competing with yourself. You're starting from here. So we're
• 1:02:21
  Speaker 2: starting from today. It doesn't matter what you did before.
• 1:02:24
  Speaker 2: So like, maybe we reframe that idea of starting from
• 1:02:26
  Speaker 2: scratch and just going yes, I can have a fresh start,
• 1:02:29
  Speaker 2: but I'm just starting from here. This is my investing
• 1:02:32
  Speaker 2: journey and it starts here. For sure, and I think
• 1:02:34
  Speaker 2: that that's really exciting. And if this episode hopefully has
• 1:02:39
  Speaker 2: made you feel more confident about investing, please don't forget
• 1:02:42
  Speaker 2: to hit subscribe, because we've got so much more investing
• 1:02:45
  Speaker 2: content just like this planned for this year, and we
• 1:02:48
  Speaker 2: are so excited about it. So let's make twenty twenty
• 1:02:51
  Speaker 2: six like our rich Girl investing era. And if you
• 1:02:55
  Speaker 2: can't wait, my friend, don't worry. Don't need heaps of
• 1:02:58
  Speaker 2: new content. We have two full play lists of investing
• 1:03:01
  Speaker 2: episodes that are planned right now. They're in the show notes.
• 1:03:04
  Speaker 2: We've got all the episodes that we think you should
• 1:03:06
  Speaker 2: start with as a beginner, and then all of our
• 1:03:08
  Speaker 2: investing content in another playlist. So go and absorb that.
• 1:03:12
  Speaker 2: We will see you on Friday, by guys.
• 1:03:22
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• 1:03:24
  Speaker 4: in nature and does not consider your individual circumstances. She's
• 1:03:28
  Speaker 4: on the Money exists purely for educational purposes and should
• 1:03:32
  Speaker 4: not be relied upon to make an investment or financial decision.
• 1:03:35
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• 1:03:42
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• 1:03:45
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