Latest / The Curve / RTC16: Why keeping your money in the bank is costing you money!

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RTC16: Why keeping your money in the bank is costing you money! · The Curve

• 0:00
  Welcome to season two of Raising the Curve, a conversation for women who want to
• 0:06
  learn more about money, via money. For the future they want to have. The pursuit
• 0:11
  for financial confidence and increasing your wealth should be a simple one. So
• 0:16
  this is a place for you to learn about investing in finance in a non-scary or
• 0:20
  intimidating way. Thank you for being here and for listening. Because together we
• 0:25
  really can raise the curve. This is wild, by the way. You should see how big our
• 0:30
  microphones are. New studio. They're like giant cones. I can't see your face.
• 0:36
  I know. And these screens in here with like our faces on them and our brand
• 0:42
  doing it. It's all a lot going on. I feel like Ariana Grande. I feel like a
• 0:48
  celebrity in a studio. You should have seen VIXX face. I used to work in
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  radio. So I had actually been into these studios before. We're at the media work
• 0:54
  studios where the edge breakfast normally do their broadcasting. And VIXX honestly
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  was like, it's this way celebrity square. So thinking I'm sitting in the same
• 1:05
  seat as doing labor or something like that. Oh my gosh. It's pretty cool. All the
• 1:10
  season two I'm really excited about this. Yeah. It's been a long time coming. The
• 1:15
  season's going to be quite similar to season one and that VIXX is just going to
• 1:18
  be playing the role of teacher. And I'm going to be an obedient student. Hopefully.
• 1:23
  Yeah. I'm going to try to be an obedient student. I feel like it's hard, isn't it?
• 1:28
  Because the first season we'll kind of just, you know, throw and shit at all. And
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  hoping you would stick. And now we're in these like really beautiful studios.
• 1:38
  We're going to have to really pull our socks up. So today we are going to learn
• 1:43
  about why we always say invest for the long term. Do you know what's funny is that
• 1:49
  this is VIXX is constantly saying this to me. And I reckon for about a year I've
• 1:53
  had invest for the long term. So I've just been like, God come up with some new
• 1:58
  material work that annoying friends. But now I get it. It's a yeah. I'm really
• 2:04
  starting to actually sink in. And we actually had an event the other night. And
• 2:09
  one of the questions was like, but what is long term? And so I think it's a
• 2:14
  really good starting point is to actually define what do we mean by long term? And
• 2:19
  what do we mean by short term? Because I would have thought short terms like two,
• 2:23
  three months. I mean, long terms, like a year and a half, but it's totally not
• 2:26
  is it? It's like a long term relationships, like a couple years, short terms,
• 2:30
  couple months and investing completely different. Right. So what would you say is
• 2:35
  like proper long term? So proper long term, like what's defined by the industry
• 2:40
  is anything over five years. But for me, I reckon 30 years is as long term.
• 2:46
  So she, I think retirement timeframe is long term. How do you live in the moment
• 2:52
  when you're thinking about 30 years? Every time I buy a coffee, no, no, I need to be
• 2:56
  so long term. So she years, I mean, wow, okay. Well, in 30 years, I mean,
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  yeah, roughly, yeah, we'll be at near retirement or at retirement. And so for me,
• 3:07
  that is long term. Short term is anything before 10 years, I reckon. But in the industry,
• 3:15
  short terms, anything before five years. But I guess it's not defining short and long term.
• 3:23
  It should be rephrased to invest for as long as you can, if that makes sense. The longer the
• 3:29
  better in any, no matter what age you are, because if you're 60, your long term isn't 30 years
• 3:38
  because you're sorry to say it. I mean, they might look to 90. They might. Yeah.
• 3:42
  Yeah, that's crazy. That's crazy. But it's means, it just means that your long term is
• 3:49
  probably going to be different to your parent's long term, for example. So long term for my
• 3:53
  mum might be seven, eight years. Yes, for me, it's 30. Yes. So it's like the longer the better.
• 3:59
  So we should really be investing from day dot. Exactly. Exactly. That's why we say start
• 4:04
  yesterday. It kind of makes sense why you own a house and grow and learn it. I'm still wondering
• 4:11
  if I can buy a route. No, but I think it's that's it, isn't it? It's like even five years makes
• 4:15
  such a massive difference in the long term. Exactly. You've been investing now, what for? Like,
• 4:22
  properly investing, properly investing, probably for, I want to say like 10 years. It's amazing.
• 4:28
  Yeah. I mean, it's, I didn't have a lot of money at uni, because I was spending it on
• 4:34
  other things. What were you spending on Victoria? Your typical student expenses.
• 4:38
  Some KGBs and vodka cruises. Exactly. Snoblips, I mean that horrible mac lipstick that we used to
• 4:46
  wear. And I was like bright pink. Oh, yeah, horrible. Yes. And it was expensive. It's like
• 4:51
  like a pastel, pastel lipstick. Like nobody looks good with that color shade lipstick.
• 4:55
  Yeah. And like goons. Oh my god. Yeah. Is that what they call?
• 5:00
  I remember I drank a goon once and I ran into a glass wall. Like I probably had like a half
• 5:08
  of a goon. I just remember things so excited. And I ran towards some friends and just for
• 5:12
  fully, like, it was so bad. I feel like there's something you would do sober as well.
• 5:17
  Oh, just. I had a migraine for like a week and a half. It was so painful.
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  Oh, jeez. So anyway. Anyway, we got a bike ride.
• 5:27
  Yes. So yeah, I've probably been investing for about about 10 years. You know, as soon as I started
• 5:32
  actually having a full-time job and I was actually putting some money away for Kiwi Savor and for like
• 5:37
  dipping, you know, dipping my toe into certain stocks that I was interested in.
• 5:42
  So yeah, probably been investing. I guess I'm about 10 years.
• 5:45
  It's amazing. And you were learning because you would have been learning about investing it.
• 5:49
  You knew so what they would have been even before then. So by the time you started investing,
• 5:53
  you had a pretty solid basis to what you were of not doing. Yes. Yeah. But gosh,
• 5:58
  definitely made some mistakes, that's for sure. Have you? Actually, because I feel like you say that
• 6:03
  and I don't believe you. Well, you don't really go around being like, I lost money in this.
• 6:07
  No, I lost money. No, but he does. No, everyone only ever tells the good stories.
• 6:11
  Hmm. It's like, I invested in Bitcoin and it's gone up 100%.
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  Can you tell me one bad investment you made and you actually lost money on it?
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  Yes. More than a thousand dollars. Like, actually lost money.
• 6:22
  Yes. So this was probably in my previous role. I feel bad naming the company because it was
• 6:27
  like, it was such a good company, but don't hire that. It's such a job. No, it's more like,
• 6:33
  I just don't want to name the company. Does it matter though? No, no. So you're working as a
• 6:37
  fund manager. Yes. Yeah. And I invested in a company and it was like a healthy. It was kind of
• 6:44
  like a tank, I guess. Yeah. Like a tank juice, but it was more like healthy food. And I was like,
• 6:48
  oh, this isn't like, health and wellness trend. This is an structural growth.
• 6:52
  Exactly. And then it was like, the founder was there and like he was, he was driving the growth
• 6:57
  over all these stores. And I think that the stock just got a hit of itself and they
• 7:01
  had unrealistic targets of what they could achieve. And in hindsight, which is great,
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  the targets that they were trying to achieve in terms of the stores are rolling out was just
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  they were opening like one store a week kind of thing, which was just unrealistic.
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  But I just jumped on the bank head rose into glasses and just took what they said is gospel
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  and it was a huge learning curve. Did you invest quite a lot in this?
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  Excuse the pun. Did you invest a lot? Yes. Like how much? It was part of a fund.
• 7:30
  So like 50 grand or more? Wow. So what happens in a staff meeting when you've lost say like
• 7:38
  hundreds of thousands of dollars? Yeah, it's part and parcel of the day job. You get them wrong.
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  But now I've learnt don't take what management say is gospel. You know, you have to do your
• 7:48
  research and think logically can they open that many stores? My boss didn't care. Well, he
• 7:54
  did. But it was more, it was more sit me down and say what have you learnt? And you know,
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  we do say you learn most from your mistakes and you definitely do it when there's money behind it.
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  100%. Do you feel one of those? Like did you feel that loss even that wasn't your own personal
• 8:11
  money? I think it's more intense because it's not your money. So you have to answer to clients
• 8:18
  that you've lost money. But also that's why we run a fund. You've got 40, 50 companies in there.
• 8:23
  So yes, one blows up. But as long as the other 49 or 39 do well, then smooth sailing. Yeah, okay.
• 8:32
  Diversified. Diversified. Diversified. Yes. I think we just diversified off track a bit. Yes,
• 8:37
  we've really did. So investing for the long term. So it's anything really plus like 10, 20,
• 8:42
  30 years, ideally. Yes, the longer the better. And this all comes down to risk your favorite word
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  risk. I think I'm a bit of a baby. You know, it comes to risk to be honest. Like if everyone was
• 8:54
  like, let's jump off this cliff. I'd be like, is he for an ass coming? I only know what everyone
• 8:58
  else does. Yeah. Yeah. Well, we always say investing involved risk and it does. And then risk
• 9:04
  is just the volatility of the asset. So the volatility of the shares or of the share price.
• 9:10
  I find that word a bit confusing. Volatility means what? The movement up and down. So cash for
• 9:16
  example, very low risk because you don't look at your bank account and go, oh, gosh, it's up.
• 9:21
  Oh, gosh, it's down. Oh, you log in. And you've got $100 in there. Tomorrow you're going to log in,
• 9:26
  there's going to be $100 in there. So you know, it's kind of, there's no, there's pretty much no
• 9:31
  movement in cash in the bank. So therefore there's no risk. Well, very low risk. Whereas shares, you look
• 9:38
  at them, they go up, they go down, they go up, they go down, they go down. So there's a lot of volatility,
• 9:42
  which means there's a lot of risk. Okay. Kind of. Yeah. No, it does. And then I guess you look
• 9:46
  at something like cryptocurrency. Oh, it's like up 25% down 25%. My flatmate actually opened his
• 9:52
  like crypto wallet on his phone there that I'd never seen one before. And I was like, oh, my goodness,
• 9:58
  it was honestly, it felt like I was peeping into another world. I was just like, this is wild.
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  It's fascinating though. And that is real volatile, right? Because he was saying that every day
• 10:08
  he goes in, and the little red number at the bottom could be up 60% or down 60% like it's not
• 10:14
  consistent, right? No. And that's that's why we say invest for the long term because
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  so the advantage of long term besting is that the the relationship between the risk of volatility
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  and time means that over time that risk is lowered, that volatility is lowered. So if you spread
• 10:36
  out, it's spread out. So if you looked at a long term chart of like Australian market, the US
• 10:40
  market, the New Zealand market, they all go up into the right. The more you zoom out, so say you
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  went five years, 10 years, 20 years, 30 years, 30 years. It's an uphill climb. It's all uphill
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  to the right. So that's why we say invest for the long term so that you have the best chance
• 10:59
  of getting that uphill to the right in your investment. Sorry, was I need to add something
• 11:05
  no, no, sorry, I was just I'm just thinking I was like, is that does it? No, it doesn't. Yeah,
• 11:09
  no, it does. Because I guess I mean, if you're thinking in terms of an uphill steady climb,
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  like maybe if you're looking short term, you see the volatility, but for you're saying it's over a
• 11:18
  long period of time, it's almost stretched out and as an overarching trend in every stock market,
• 11:27
  long term view, it's an uphill. Yes. And if you and use these little blips, but because you've
• 11:32
  zoomed out so much, they're little blips, whereas if you zoomed in, that could be down, it could be
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  flat with a big correction in the middle. You know, there's there's a lot more volatility
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  or movement up and down when you zoom in. Is the reason that every stock market is going up in
• 11:49
  terms of a long term view? Is that because the companies that are listed are generally
• 11:55
  more than not successful and therefore the money that people are investing is growing these
• 12:00
  companies and therefore growing the value of the stocks and therefore returning to their.
• 12:04
  Yes, exactly. So all the market is, so when we talk about the US market or the Aussie market,
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  we're talking about the main index there, so the the S&P 500 and the US, the ASX200 and Aussie
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  and then New Zealand, it's the NZX50. So that is just a bunch of a whole lot of companies.
• 12:24
  So yes, you're right. It's all those companies that are growing their earnings. It's also the
• 12:29
  underlying economy. So we all know that we're not in recession at the moment or we're not in a
• 12:35
  period of a really long recession. There is economic growth, which what we call GDP, which is
• 12:41
  gross domestic product, which is just the measurement and that's growing, you know, sometimes around
• 12:46
  two to three percent each year. So you've got that underlying growth, you've got company growth
• 12:50
  on top of that. So over the long term, economies are growing in general. If they're all going
• 12:56
  backwards, gosh, we'll be in a dire situation. So it all comes down to more people on the planet,
• 13:03
  producing more goods. It's just more activity, more growth, and yes, that feels that as well as
• 13:10
  inflation. So when prices are steadily rising, then companies are generating revenue,
• 13:16
  they're generating profit, and that is reflected in their stock price. It's a part of parcel of
• 13:23
  the world growing, really. That's why we say nobody knows what's going to happen in the short term
• 13:30
  because there's so many drivers in the market, like you just said, company earnings, which is what
• 13:34
  we call the micro side of the market. And there's macro side of the market, which is more of the
• 13:39
  economy, interest rates, inflation, all that stuff going on. But if you zoom out, take a long
• 13:44
  turn view, markets will go up. So that's why we're saying this for the long term.
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  So really, it's a no-brainer investing in stocks, because I mean, yes, of course, there might be
• 13:52
  a few bad ones along the way, but overall, it's increasing in value. So as much as we're all
• 13:59
  sitting here, like newbies like maybe, oh my god, this is so scary. Actually, the trend in general
• 14:05
  is a really positive one. Wouldn't you say something like the stock market has gone up even more than
• 14:11
  the property market has in New Zealand? Yes, in terms of the yearly returns. Yeah, so the NZX50
• 14:17
  has gone up about over 10% per year over the last nearly 20 years. And what's the property market?
• 14:23
  And the property market's like 8% in Auckland. That's just Auckland, but that's because you're taking
• 14:27
  on a bit more risk. There's less risk investing in the property market because there's less volatility
• 14:32
  and New Zealand's got a property market at its own. But here is a step for you. Oh, I love a good step.
• 14:39
  So the NZX, so the New Zealand stock market, over the last 20 years, there's only been five
• 14:46
  years where the market ended down. So 15 out of 20 years, over the last 20 years, the New Zealand
• 14:56
  market has finished up. And up can be like 20%, 30%, it could be 2%. So all those people out there
• 15:04
  that are like, oh, but I'm going to wait for a market pullback or I'm going to wait for a correction
• 15:08
  before I invest my money, you could be waiting five years even longer. And you're missing out on
• 15:13
  all those returns. And you're missing out on all those gains while you're waiting for what might not
• 15:17
  actually happen. It's like you say, it's a no-brainer. I'd rather invest now, get those gains for five
• 15:22
  years. Yes, maybe lose a little bit if there is a correction and then continue on those gains. Yeah,
• 15:27
  that's why, and the same when Aussie, so in Australia, same period of the last 20 years, there's only
• 15:31
  been four years where it's ended negative. That's incredible. Yeah, so this is why we say,
• 15:37
  invest for the long term, if you put your money in for the 20 years, you would have had four
• 15:41
  corrections, but it's, it's meaningless in this game of things, really. Yeah, it's like if you look
• 15:46
  at, you know, the boyfriends you've had across your life, you've probably had a few plumbers in there.
• 15:53
  But it doesn't matter, because there's a few goodies. But that's the thing, it's like you've got
• 15:57
  a kiss a few frogs there. You know, like it's always bad. Yeah, yeah. That's exactly what I was
• 16:02
  talking about. I was struggling to find my analogy. But do you know what's bad as well,
• 16:08
  is that I've actually still got money in Australia, and I have been thinking, I'm actually not
• 16:13
  going to bring that over through transfer wise, because, you know, when I first moved over to
• 16:17
  Australia, the dollar was so much stronger, and I've been that classic. It's been years. I
• 16:22
  remember saying to you honestly, probably four years ago, like I've got my money over here,
• 16:26
  and I don't know if I should bring it. I'm just showing you the way to sell. Well, I mean,
• 16:30
  there's only 10 grand, but for me, that's a lot. Yeah. And it's just in the bank. Yep. So it's
• 16:35
  probably earning maybe one percent plus you've probably got bank fees. Awesome. No, I do. I get
• 16:41
  heaps of bank fees. Okay, so you're probably saying like minus $13 bank stuff. I'm like, oh,
• 16:46
  damn it. Because so you're probably getting nothing. I'm probably, or you're probably, you're
• 16:50
  probably getting that negative three. Maybe I'm going honestly going backwards, because there are
• 16:55
  some weird deductions that I can say it's like, so final. So, okay, let's work backwards. If I was to
• 17:04
  ask you how much money do you want at retirement? I mean, I don't know. Like a couple hundred,
• 17:12
  a couple hundred grand. Or is that not enough? That's to maybe three. Three hundred? Yeah. Okay,
• 17:17
  three. So you want to be able to buy some base trees and some yum treats. So it's 300 grand,
• 17:23
  and you've got 10,000 in your bank. And I was at the moment. Are you laughing at 19 grand? No,
• 17:30
  I'm really funny. So you'd need at least, you need to be getting about 10 percent per year
• 17:38
  for the next 30 years. And you're getting probably negative two. So I need to up myself by
• 17:43
  13 percent. But how amazing that you could just, if you just sat down for half an hour an hour
• 17:48
  and actually put some time in and changed it and put into a fund. I mean, I'm ignoring currency
• 17:53
  in all that. So you put into funding of the generating 10 percent. You could literally sit back
• 17:58
  and relax and know that you've got. Can buy my pastries when I may be. You've got, yeah,
• 18:01
  you'll be able to buy pastries. It seems like a no brainer. Yes, okay, but I'm sorry. Very hard on
• 18:06
  the curve stuff. Okay. But I have no spare time. But honestly, the number of people like,
• 18:10
  if you're in your situation, they go, oh my gosh, it's amazing. And they genuinely want to do it.
• 18:16
  And then they leave our event or they stop listening to the podcast. And then they forget
• 18:22
  about it. And then it's month's time. And they swear, MacDynard. It's all literally. This is
• 18:26
  exact. And you're talking to the audience. I want to rephrase that though. If I was to say to
• 18:32
  you, so I'll give you $300,000 for an hour's work. Oh my god. Would you take it?
• 18:38
  Well, yes, I would make some time and I'm very busy schedule. I think ever I would say yes. Gosh.
• 18:44
  And it's kind of, I guess, the mentality of how. That's a big battery. Yeah. Yeah. And I think that's
• 18:51
  what everyone should think. Or just spending money on looking after your finances, whether it be your
• 18:57
  tax return and you're going to get some tax back. Yeah. And you're like, oh god, I'm going to put
• 19:01
  that on. It's bloody boring. But actually, yeah. So worth your time. Yes, definitely. Do you know,
• 19:06
  recently, I've had this huge urge. It's, I don't know how it's taking me so long, but within the last
• 19:13
  probably week, week and a half, I've all of a sudden felt this real will to want to start
• 19:19
  investing properly. Yeah. I don't know why it's taking me so long. But it's, I've just got to a
• 19:24
  point recently where I'm like, oh, no, I actually, I've got this. You know, if I actually put some
• 19:28
  time and effort and energy in, I can totally make this happen for myself. I just actually have to do
• 19:34
  that. I think I've been sort of sitting back and feeling a bit still overwhelmed, still scared,
• 19:40
  still just like not ready. Well, you're learning. And I think maybe you've probably got to a level
• 19:44
  now where you have something kind of understanding where I'm like, okay, which is great. Yeah. I don't
• 19:52
  know. Maybe it's just the idea that there is going to be ups and downs and it's not going to be
• 19:56
  perfect sailing, but that overall, even just hearing what you were saying about the markets generally,
• 20:02
  other than four or five years out of 20 finishing up. It's like a no brainer. Just step in the door.
• 20:08
  You know, like just open the door, dip it over and it's good to remember those things because you
• 20:13
  might start and then the market market might be down 20% to say. But then it's just thinking, no,
• 20:20
  this is probably one out of very few years that this happens. It's kind of like, I remember
• 20:25
  swimming in Bondo. And I was like, it's going to sell Bondo today, it's by the way. And I'm like,
• 20:30
  there's sharks in here, there's sharks in here. You start thinking about the actual stats around
• 20:35
  how many people have been killed by shark attacks, how many people swim in the ocean, and the likelihood
• 20:38
  it's going to happen to you. And so you start thinking when you're invest, if you invest it and then
• 20:42
  you have your first years really bad, it's thinking, okay, we'll look at the stats of the long term
• 20:48
  markets have gone up every year, it's kept four or five depending on Australia and New Zealand,
• 20:53
  wherever you're investing. So it's just taking those stats and remembering them and not getting
• 21:00
  emotional about the fact that you may have lost some money. I must say, I have thought about the
• 21:06
  shark attacks too. And I felt like if there's anyone to get attacked by a shark, it would probably be me
• 21:11
  as long as I can swim faster than you. I actually just started surfing recently and I
• 21:16
  purposefully going to get not a black wet soap. You're giving me one of those stripy ones, I'm not
• 21:20
  like a zebra. Yes, yes, because I need to make it very clear to sharks that I am not their food.
• 21:28
  Okay, so investing for the long term generally means that you are going to be able to weather the
• 21:34
  volatility of the market. In those years, they're a little bit shit, the shark years, because in the
• 21:40
  long term, you're going to be up regardless. Yes. I was actually recently watching Wolf of Wall
• 21:45
  Street, just to get some real motivation for my investing career. Firstly, shocked at the
• 21:52
  behaviour of all men during that time, it was disgusting. And to think that the market was actually
• 21:59
  like that. Was it really? So do people talk about the glory days and investing and it was like that?
• 22:03
  I personally wanted to say the glory days, but they're like the outrageous days, yeah. Yeah, like
• 22:08
  sorting cocaine off people's bums and stuff. Or, yeah, it was generally the woman, right?
• 22:14
  Yeah. I think that's because there was so few women in the industry then. I mean, there's a few
• 22:19
  more now, but there's still very little that that behaviour was okay. And treating your clients
• 22:25
  like terribly was okay. And just getting as much money and there's a lot more regulation now
• 22:31
  in place. Thank goodness. But yeah, some of the scenes of that and also what they did to clients
• 22:38
  is just so Matthew McConaughey, I'm a big fan of something about the way he talks is so hot,
• 22:44
  but he did say something that I thought, oh my god, this is how I feel about the stock market.
• 22:49
  And I wanted to fight you because I feel like it definitely encompasses how probably a lot of us
• 22:54
  feel about you and people in the industry that tell us all of this information. So I'm just going
• 23:00
  to apply this, but just give me a second. I'll try to get my technicals.
• 23:05
  Number one rule of Wall Street. Nobody, okay, if you're Warren Buffett or if you're Jimmy Buffett,
• 23:12
  nobody knows if the stock is going to go up, down sideways or in fucking circles,
• 23:16
  at least of all stock brokers, right? It's all a fugazi. You know what a fugazi is? Well,
• 23:21
  fugazi, it's fake. Yeah, fugazi, fugazi, it's a wazzy, it's a wazzy, it's a fairy dust,
• 23:27
  it doesn't exist, it's never landed, it is no matter, it's not on the elemental chart,
• 23:32
  it's not fucking real, right? All right. Now, of course. I have a bone to big with you.
• 23:40
  It's all fake. I'm kidding. I guess the thing he's missing there or the caveat that's missing
• 23:48
  is he's more short-term focused. And I agree with him. Nobody knows what's going,
• 23:52
  I'm not that it's fake, but I agree with him and that nobody knows what's going to do short-term.
• 23:57
  If it's going to go up, it's going to go down, it's going to in circles.
• 24:00
  Right. And people that tell you that they do know what's going to happen, don't.
• 24:04
  I don't know what's going to happen tomorrow next week, next month,
• 24:06
  but I do know over the long term that markets tend to go up. So actually, it's kind of
• 24:11
  sort of true, yes. Yes, to a degree. Yeah, okay. I guess that's the whole point of this episode,
• 24:18
  though, right? Yes. Yes. In the short-term, we might not know what's happening. In fact,
• 24:22
  we definitely don't know what's happening. Exactly. There's going to be some shark ears.
• 24:26
  Yes. You know, you might get a little bike here and there, but it's going to heal and you're
• 24:31
  going to keep swimming. And you're going to keep swimming up to the right. Yeah, okay.
• 24:38
  Just keep swimming, just keep swimming. Okay, you always tell me to edit out your singing.
• 24:42
  So don't do all the recording. Okay, so invest for the long term. Yes.
• 24:47
  As long as you can, depending on your situation. Invest for as long as you can.
• 24:51
  It's probably a bit of a slogan. Yeah, it actually really is, isn't it? For me,
• 24:55
  I couldn't invest for 30 years. Yes. For my mum, she might not be able to. Exactly.
• 24:59
  That's what I'm saying, but you never know. Love her. This for the long term.
• 25:06
  It's hard when you're thinking about, like, people our age who might be wanting to say for a house,
• 25:10
  or, you know, that money you can't really just put away for ever, or 30 years, and think,
• 25:16
  I'm never going to need that because that's kind of also unrealistic. That's true. And I think
• 25:20
  maybe there's an approach to investing in, say, three buckets or two buckets.
• 25:26
  And it's saying, okay, this is going to be my shorter term investment. Maybe I'll take a little
• 25:30
  a little bit less risk because I want that investment in five years to buy a house, for example,
• 25:35
  to pay for a wedding to buy a new car, whatever. But then for the other part, or the other bucket,
• 25:42
  I'm going to do a much more longer term view and take a lot more risk because, you know,
• 25:48
  so it's kind of splitting it up, or putting it in buckets for different goals is maybe a
• 25:52
  better way to look at it. Because, yes, there are shorter term times where you need our money,
• 25:57
  or a shorter term investment goals. And that's fine. But, yeah, maybe split it into buckets if
• 26:04
  you know what those shorter term and longer term goals are. It would be a really great short
• 26:08
  episode on that, actually. Like, how to figure out what your investing goal is,
• 26:13
  what you're wanting to achieve, and then, therefore, what kind of investments should you be looking for,
• 26:19
  how long should that be in there for? Because I wouldn't have a clue really how to bucket my
• 26:24
  investments. Yes. I'd love to do that. Maybe we could look at doing that this season. Yeah, that's
• 26:29
  good. Yeah. Bucket investing. They're like, every industry talks about buckets. They're
• 26:34
  marketing. They're like, all the markets. Okay, I feel like this has been a very good episode,
• 26:39
  however, I'm aware of the fact that we have been potentially rambling. So, should we just do a
• 26:44
  quick summary on the key takeaways for everyone for this episode? Yes. Okay. So, first one I would say
• 26:49
  is invest for the long term, or invest for as long as you can. And your long term and my long term
• 26:56
  might be different. The second point would be that remember the stats of the long term markets
• 27:01
  tend to go up to the right. And the third one is Matthew McConaughey was on the half right.
• 27:06
  I'd love that. I'm so glad a point that I bought the table made it into the summary.
• 27:11
  We actually would love to do some Q&As for this season of raising the curves. So,
• 27:16
  if you've got any questions or anything, it doesn't have to be what we've talked about in this
• 27:20
  episode. But if you want to jump into the Instagram account and just send us a DM or go onto our
• 27:25
  website, the curve.co.nz, at the end of each episode from now on, we're going to answer a few
• 27:29
  questions. So, yeah, we would love to hear from you. I was going to say that. Nothing is
• 27:35
  created who knows. Thank you so much for joining us for today's episode of Raising the Curve.
• 27:41
  Please subscribe and leave a review on whatever platform you're listening on. We would also
• 27:45
  love for you to share this podcast with anyone you think would benefit from it. The more information
• 27:50
  about the curve and how you can learn more, head to the curve.co.nz or find us on socials at the
• 27:56
  underscore curve.co.nz.