Latest / She's On The Money / A rookie's guide to investing: part two

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A rookie's guide to investing: part two · She's On The Money

0:00
Speaker 1: She's on the Money.
0:02
Speaker 2: She's on the Money.
0:20
Speaker 1: Hello, and welcome to She's on the Money, the podcast
0:23
Speaker 1: for millennials who want financial freedom. I'm one of your
0:26
Speaker 1: co hosts, Annabel Lee. I'm a law student and a
0:28
Speaker 1: millennial who loves learning more and more about money from
0:31
Speaker 1: my friend and money expert Victoria Divine. Hey Victoria, good morning.
0:35
Speaker 1: Welcome back from your trip to New Zealand.
0:37
Speaker 3: Ah, thank you.
0:38
Speaker 1: I feel like we need to say I'm recovering from
0:40
Speaker 1: a cold and Victoria might be catching a cold.
0:43
Speaker 3: I don't know, maybe we're on the same wavelength.
0:45
Speaker 1: Perhaps so many of you guys are sharing your amazing
0:48
Speaker 1: money wins in our Facebook group every day, so let's
0:50
Speaker 1: draw a couple from the last few weeks. I've got
0:53
Speaker 1: one from April, she said. It's officially the last day
0:56
Speaker 1: of no by July. I challenged myself to spend zero
0:59
Speaker 1: dollars on necessary items during July, and I've only spent
1:02
Speaker 1: a grand total of five dollars on some stickers for
1:04
Speaker 1: my three year old. I'm so proud of this achievement.
1:06
Speaker 1: My husband and I have some pretty massive money decisions
1:09
Speaker 1: to make in the near future, and I can feel
1:10
Speaker 1: my attitudes and habits shifting in a more positive direction.
1:14
Speaker 1: I'm really loving this whole motivational month thing.
1:17
Speaker 3: I love it as well, and I love that they're
1:18
Speaker 3: all sharing it in the group as well. Like I
1:20
Speaker 3: haven't got less excited each time someone posts.
1:23
Speaker 1: Now someone posts, I'm like, yes, do it no by July.
1:27
Speaker 1: I feel like works hand in hand with dry July.
1:29
Speaker 3: It does, but I don't drink, don't buy. Yeah, look,
1:32
Speaker 3: that's not a fun couple, so I have one as well.
1:35
Speaker 3: I was actually annoyed at you because I really liked
1:37
Speaker 3: a pearls and I was going to use it. But
1:39
Speaker 3: I've got Alaniz And she said, dear, she's on the
1:42
Speaker 3: money dream team. I just want to say, with all
1:44
Speaker 3: my heart, thank you since releasing your podcast on my
1:47
Speaker 3: fifty three thousand dollars salary I have. And she has
1:50
Speaker 3: a list of things that she's done. Yeah, it was
1:53
Speaker 3: really cute, so paid out my after pains it Bay.
1:56
Speaker 3: She has raised the fortnightly repayments on her loan into
2:00
Speaker 3: years it'll be gone and she's completely happy with that timeline.
2:03
Speaker 3: She has another tick, and it is she somehow rearranged
2:06
Speaker 3: her budget so damn well that she now has two
2:08
Speaker 3: and a half thousand dollars in savings for a holiday
2:11
Speaker 3: to Japan next year, and that includes fifty dollars a
2:14
Speaker 3: week of spending money. And she also said that I
2:18
Speaker 3: no longer feel ashamed or like I'm letting the team down,
2:20
Speaker 3: and my partner and I have been having frequent open
2:23
Speaker 3: conversations about money and budgeting strategies, and I think that's
2:26
Speaker 3: been my favorite part of all And you know what,
2:28
Speaker 3: that's my favorite part as well, Like, I absolutely love that.
2:31
Speaker 3: The one thing that she loved about that wasn't just
2:34
Speaker 3: the financial side of things. It was more the feeling
2:37
Speaker 3: that she no longer feels hindered by finance, but maybe
2:39
Speaker 3: more empowered by it.
2:40
Speaker 1: And it's so important to talk about finance with your
2:42
Speaker 1: partner because it's like two people's different money stories coming together.
2:46
Speaker 1: It's important to kind of work them out as.
2:48
Speaker 3: One, exactly. And if you can't have those conversations, like
2:51
Speaker 3: laiter down the track, they're going to become really big issues.
2:54
Speaker 1: I'll catch up to you, exactly. So Victoria, today on
2:57
Speaker 1: the show, we're talking all things investing again. So we've
3:00
Speaker 1: already gone through the basics. What's an investment, what's a share?
3:04
Speaker 1: But today we're going a bit deeper than that. Before
3:06
Speaker 1: we get there, though, as always, it's time to share
3:09
Speaker 1: a money win or a money confession from the week,
3:11
Speaker 1: and as per usual, you can give us off, Victoria.
3:14
Speaker 3: I know you love going first, always going first. So
3:18
Speaker 3: this week, as Annabel mentioned, I've just gotten back from
3:21
Speaker 3: a holiday in New Zealand which was absolutely beautiful. But
3:25
Speaker 3: my money confession is I didn't stick to budget.
3:28
Speaker 1: And that's okay sometimes, Oh look it is okay.
3:31
Speaker 3: I'm a budgeter and I like knowing what's going on.
3:33
Speaker 3: You should have seen the spreadsheet i'd organized for this holiday.
3:37
Speaker 3: I had it down to a tee, but a few
3:39
Speaker 3: things came up, and you know, we saw a couple
3:41
Speaker 3: of restaurants we wanted to go to and we kind
3:44
Speaker 3: of just said, well, you know what, we're not putting
3:45
Speaker 3: it on credit, so let's just do it.
3:48
Speaker 1: At least you had a spreadsheet. Though I'm a bit
3:49
Speaker 1: of a holiday spreadsheeter as well, you've got to stick
3:52
Speaker 1: to the plan.
3:53
Speaker 3: I love it. I feel like it gets me really
3:54
Speaker 3: excited for the holiday to come because I know exactly
3:57
Speaker 3: what's going to happen. And when people are like, oh,
3:58
Speaker 3: what are you doing. I'm like, well, let me so, Annabel,
4:02
Speaker 3: what is your money with nor money confession.
4:04
Speaker 1: I have a money confession. I have the past two
4:07
Speaker 1: weeks gone to two bottomless brunches, which is totally not
4:11
Speaker 1: really my thing. I don't drink all that much, but
4:14
Speaker 1: I've felt a little bit of social pressure, which is
4:16
Speaker 1: never good. I did have a really good time, though,
4:18
Speaker 1: and I love brunch, but I feel like I didn't
4:20
Speaker 1: get my money's work because alcohol is expensive, and so
4:24
Speaker 1: is the ticket you get like a wristband to get
4:26
Speaker 1: into bottomless brunch. Oh gosh, And like I calculated in
4:29
Speaker 1: my head the amount of drinks I needed to drink
4:31
Speaker 1: and what I needed.
4:32
Speaker 3: To order to get value, to get value, and.
4:34
Speaker 1: I don't think I did. I literally had like one
4:36
Speaker 1: or two drinks and I was like, I'm done, I
4:37
Speaker 1: gotta tap out.
4:38
Speaker 3: Yeah, I feel like morning drinking is maybe not my thing.
4:41
Speaker 3: But also it sounds like you definitely didn't do dry July.
4:43
Speaker 1: Oh no, no no.
4:46
Speaker 3: And I'm glad brunch comes up in every single episode.
4:49
Speaker 3: I feel like we need to keep this theme going.
4:50
Speaker 1: It's an important part of my life, Victoria.
4:52
Speaker 3: Absolutely it is.
4:53
Speaker 1: Before we get into this week's topic, let's do a
4:55
Speaker 1: tiny recap of last week, shall we. So we're on
4:58
Speaker 1: the same page, Victoria. Why women begin investing more? And
5:01
Speaker 1: in the simplest of terms, what is a share?
5:04
Speaker 3: So a share is simply part ownership of a business.
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Speaker 3: It is a very small piece of the pie that
5:10
Speaker 3: you get, which entitles you to have a piece of
5:13
Speaker 3: the growth and the profits of the business you're investing in.
5:15
Speaker 3: Why should women be investing more? We should be investing
5:18
Speaker 3: more because it puts us in a place of financial empowerment.
5:21
Speaker 3: It provides for our future. It puts us in a
5:23
Speaker 3: position of power, so we're not relying on anybody else
5:26
Speaker 3: to make decisions for us in the future.
5:28
Speaker 1: Yes, and that's really important to me as well. The
5:30
Speaker 1: place I want to start is here. I think there
5:32
Speaker 1: are many different types of investment.
5:33
Speaker 4: Right.
5:34
Speaker 1: You mentioned to me earlier that buying shares is just
5:36
Speaker 1: one asset class. Can you explain a little to me
5:39
Speaker 1: what that means?
5:40
Speaker 3: So an asset class is just a type of investment.
5:43
Speaker 3: And there are four main asset classes that we refer
5:46
Speaker 3: to in the investment world, and those are fixed interest, cash, property,
5:51
Speaker 3: and shares.
5:52
Speaker 1: What is fixed interest?
5:53
Speaker 3: Let's talk about one fixed interest is things. They call
5:56
Speaker 3: them securities, and they are like bonds, and they really
6:00
Speaker 3: operate in exactly the same way that a loan operates.
6:03
Speaker 3: So you are lending money to something or someone with
6:07
Speaker 3: the expectation of a return. So you pay cash for
6:11
Speaker 3: a bond, you get the bond, they give you a certificate,
6:13
Speaker 3: and in return, you receive a regular interest payment from
6:16
Speaker 3: the bond issuer for an agreed period of time, and
6:19
Speaker 3: then once that period of time is up, you will
6:21
Speaker 3: receive your bond or the initial sum back.
6:24
Speaker 1: So you said cash was one of the asset classes.
6:27
Speaker 1: What did you mean by that?
6:28
Speaker 3: So that refers to all of the money you've got
6:30
Speaker 3: sitting in your bank account right now. So that could
6:32
Speaker 3: either be earning you no money in an interest free account,
6:36
Speaker 3: or it could be earning you, you know, one or
6:38
Speaker 3: two percent, depending on what the market is doing. But
6:40
Speaker 3: cash is an investment in itself.
6:42
Speaker 1: Okay, amazing. So Victoria, is it possible for me to
6:45
Speaker 1: earn money while my shares are locked up in an investment.
6:48
Speaker 1: I've heard that there's an option for me to receive
6:50
Speaker 1: payouts and another to keep it in there for the
6:53
Speaker 1: long run.
6:53
Speaker 3: Is that true? So yes, you're right, and so what
6:56
Speaker 3: you're talking about in terms of regular payouts is actually
6:59
Speaker 3: the divid and being paid to you. So you can
7:01
Speaker 3: do one of two things with the dividend. You can
7:03
Speaker 3: choose to take that as income because it will, you know,
7:06
Speaker 3: come in every quarter or every six months, or however
7:09
Speaker 3: often your dividend gets paid out. You will get that
7:12
Speaker 3: cash into your account, and you have two options. So
7:15
Speaker 3: you can either take that cash and spend it on
7:16
Speaker 3: whatever you would like to increase your monthly or weekly income,
7:20
Speaker 3: or you are able to reinvest your dividends into your
7:23
Speaker 3: share portfolio. And that's what creates compounding interest. So over time,
7:27
Speaker 3: if you're consistently reinvesting the amount of money that your
7:31
Speaker 3: shares make for you back into the share market, your
7:34
Speaker 3: share portfolio grows without you always having to contribute more
7:38
Speaker 3: and more income.
7:39
Speaker 1: So compound interest is kind of like interest on your interest.
7:43
Speaker 3: Yeah, so compound interest is the interest your interest earns
7:47
Speaker 3: over a period of time.
7:49
Speaker 1: Right, And so combound interest is a good thing.
7:51
Speaker 3: It's a brilliant thing.
7:52
Speaker 1: Great, So we know the basics of investing. Now let's
7:55
Speaker 1: push a little deeper in discussions of investing. I hear
7:58
Speaker 1: the word diversification thrown around lot. What on earth is
8:01
Speaker 1: everyone talking about and why is diversifying my investments such
8:04
Speaker 1: a good thing.
8:05
Speaker 3: So diversification, which we briefly touched on just before, is
8:09
Speaker 3: essentially what we're going to call a risk management strategy.
8:12
Speaker 3: So risk management strategy is where you're essentially not putting
8:16
Speaker 3: all your eggs in one basket. It means you're picking
8:19
Speaker 3: a variety of different investments. So instead of just going
8:23
Speaker 3: and buying Telstra shares and owning shares in Telstra and
8:26
Speaker 3: if the performance of that company doesn't do so well,
8:29
Speaker 3: your share portfolio doesn't do so well. It means picking
8:32
Speaker 3: a range of different investments from different asset classes, so
8:35
Speaker 3: that if one company isn't performing, that should be okay
8:38
Speaker 3: because that all evens out and over time your investment
8:41
Speaker 3: portfolio will increase.
8:43
Speaker 1: Yeah, so we should all be trying to diversify it absolutely.
8:46
Speaker 3: I wouldn't want to carry all my eggs in one basket,
8:49
Speaker 3: and as much as you do, yeah, look really heavy basket.
8:52
Speaker 3: But also it just means that we are spread out
8:55
Speaker 3: in different types of investments, and it means that we
8:58
Speaker 3: are less likely to, you know, have really big fluctuations
9:01
Speaker 3: in our portfolio value.
9:03
Speaker 1: Okay, so what about ETFs? Then what is an ETF?
9:07
Speaker 1: I mean, I tried to google it and every time
9:08
Speaker 1: I searched it it made ETF sound like the most
9:11
Speaker 1: complicated thing on the planet. Is that the case?
9:14
Speaker 3: Absolutely? No, No, not at all. So an ETF is
9:17
Speaker 3: actually super simple. And ETF means an exchange traded fund,
9:22
Speaker 3: which I don't think means that much to any right now.
9:25
Speaker 3: But what you can do. You can think of an
9:27
Speaker 3: ETF as a basket of investments. So each ETF purchases
9:31
Speaker 3: a range of different assets like shares, bonds, commodities, different currencies,
9:36
Speaker 3: and their aim is to match the performance of a
9:38
Speaker 3: particular market index or a benchmark. So, for example, you
9:43
Speaker 3: could have an ETF and purchase one that aims to
9:46
Speaker 3: track the top two hundred stocks or shares in Australia,
9:50
Speaker 3: and by investing those with an ETF, it means you
9:52
Speaker 3: get a wide variety of diversification without you individually having
9:56
Speaker 3: to go and purchase a wide variety of different stocks.
10:00
Speaker 3: Also means you can get into the share market with
10:02
Speaker 3: less income, because to have a well diversified portfolio where
10:06
Speaker 3: you have individual stocks, you actually need to have a
10:09
Speaker 3: lot of cash to invest, whereas an ETF means you
10:12
Speaker 3: can invest with less money but still have that level
10:16
Speaker 3: of diversification that we would recommend you have anyway.
10:19
Speaker 1: So an ETF is your friend.
10:21
Speaker 3: Absolutely, an ETF is your friend.
10:22
Speaker 1: Another one that I couldn't quite get a straight answer
10:25
Speaker 1: on with a Google search, what is a managed investment product?
10:29
Speaker 1: Can I go to a company like say MLC and
10:32
Speaker 1: have them decide where I shall put my money?
10:34
Speaker 3: So an ETF is actually a managed investment product? Ah,
10:38
Speaker 3: So a managed investment is actually known often as a
10:41
Speaker 3: pulled investment. It's where your money as an investor gets
10:44
Speaker 3: pulled together with the money of lots of other investors,
10:47
Speaker 3: and it's managed by some investment experts, like a fund manager,
10:51
Speaker 3: and they buy and sell investments on your behalf in
10:54
Speaker 3: a big group. So instead of you know, you having
10:57
Speaker 3: an individual stockbroker who is quite ex expensive, you're dividing
11:01
Speaker 3: that cost up with a really big group of people.
11:03
Speaker 3: Because the bigger your fund is, the more power it
11:06
Speaker 3: has and the less money you're going to have to pay.
11:08
Speaker 3: So you're essentially getting a fund manager without having to
11:11
Speaker 3: pay them directly.
11:12
Speaker 1: Vijori, I'm going to be completely honest with you, I'm
11:14
Speaker 1: still very confused.
11:16
Speaker 3: I thought you might be. I could see it. So
11:19
Speaker 3: a managed fund, as I said, pulls all your money
11:22
Speaker 3: together with other investors, and then a fund manager makes
11:26
Speaker 3: all the decisions for that investment portfolio. So an example
11:30
Speaker 3: of that is, say we have a thousand investors and
11:33
Speaker 3: they decide to invest ten thousand dollars each into a
11:35
Speaker 3: bank account together, and then in return they'll get ten
11:38
Speaker 3: thousand units each, and that is one dollar then would
11:42
Speaker 3: buy you one unit. So the money that's in the fund,
11:45
Speaker 3: that professional fund manager makes all the decisions on which
11:48
Speaker 3: stocks there are and how that works, and invests the money,
11:52
Speaker 3: and if the investments do well, then the unit price
11:55
Speaker 3: that you own will increase.
11:57
Speaker 1: So who are these one thousand people? Are they strangers?
12:00
Speaker 1: How do they group together?
12:01
Speaker 4: Yeah?
12:01
Speaker 3: Like they're true. Yes, they're not your friends. They are
12:05
Speaker 3: just people who are in similar situations to you, who
12:08
Speaker 3: I would assume have the same risk profile as you.
12:10
Speaker 3: And someone picks you up and says, all right, no problems,
12:13
Speaker 3: here's the ETF that you suit best, and that will
12:16
Speaker 3: be really similar for the other people in the fund.
12:18
Speaker 3: So they might be investors. They also only have ten
12:21
Speaker 3: thousand dollars to invest, and they're you know, popping it
12:23
Speaker 3: in all equally. And you know, we go from there
12:26
Speaker 3: in saying that it doesn't have to be equal. So
12:28
Speaker 3: you could go in with five thousand dollars and someone
12:31
Speaker 3: else could go in with fifty thousand dollars. The amount
12:34
Speaker 3: that that changes, or what that changes is just how
12:37
Speaker 3: many units in that you own. So with your one
12:40
Speaker 3: thousand dollars, you would own a thousand shares, and with
12:42
Speaker 3: their fifty thousand they would own fifty thousand. Does that
12:45
Speaker 3: make sense?
12:45
Speaker 4: Yes?
12:45
Speaker 1: I think so, Victoria. I saw on the Facebook group
12:48
Speaker 1: that you said ETFs aren't for everybody. Why aren't they
12:51
Speaker 1: your only investment option?
12:53
Speaker 3: So I think it's really important that when we talk
12:55
Speaker 3: about ETFs we understand the proper structure of them. So
13:00
Speaker 3: is a separately managed fund. So it is a fund
13:04
Speaker 3: that you put your money into and then you own
13:07
Speaker 3: units in that fund. You do not own those shares directly.
13:12
Speaker 3: So you might own a unit in this fund and
13:14
Speaker 3: that fund owns A and Z, but you do not
13:17
Speaker 3: own A and Z shares directly. So for me, as
13:20
Speaker 3: a financial advisor, I really want to mitigate risk, right,
13:23
Speaker 3: Like it's my job to put you in the best
13:25
Speaker 3: possible position. And whilst an ETF is a really brilliant
13:29
Speaker 3: choice for someone who doesn't have one hundred thousand dollars
13:31
Speaker 3: of capital, it's also something where I say, look, there's
13:35
Speaker 3: a bit of risk there as well, because by having
13:37
Speaker 3: a fund manager making decisions for you, you could wake up
13:41
Speaker 3: tomorrow and your shares in A and Z have been
13:43
Speaker 3: sold down and maybe that's not something that you wanted.
13:46
Speaker 3: So for me and ETF is a really great entry
13:50
Speaker 3: point to the investment market where you can start building
13:53
Speaker 3: a portfolio up, and once you've built it up to
13:56
Speaker 3: a certain level, we then start talking about buying shares directly,
14:00
Speaker 3: so that you and Annabelle would own that A and
14:02
Speaker 3: Z share instead of a fund owning it on your
14:05
Speaker 3: behalf and just giving you part of the profit. You
14:08
Speaker 3: would get the profit directly. Does that make sense, Yeah,
14:10
Speaker 3: it does. So I think that ETFs are a really
14:13
Speaker 3: great thing to start playing with. It's a bit like raise,
14:16
Speaker 3: so raise owns atfs and the different portfolios will be
14:20
Speaker 3: dependent upon what your tolerance to risk is. And I
14:23
Speaker 3: think that, you know, great introduction to the market, But
14:26
Speaker 3: I also don't want people to think the ETFs are
14:29
Speaker 3: the only way you invest in the market, because if
14:31
Speaker 3: you have enough capital, you can be buying shares directly
14:35
Speaker 3: and you can be the personal owner of you know,
14:37
Speaker 3: those Telstra shares or those A and Z shares.
14:40
Speaker 1: So it's a great way to like dip your toes in,
14:41
Speaker 1: But the main end goal is to own your own
14:44
Speaker 1: shares directly.
14:45
Speaker 3: Yes, and once we're talking about investment portfolios over one
14:48
Speaker 3: hundred thousand dollars, which sounds crazy to people, but because
14:51
Speaker 3: you guys are young, that's going to happen at some
14:53
Speaker 3: point if you invest now, once it's over one hundred
14:56
Speaker 3: thousand dollars, we really need to be looking at owning
14:58
Speaker 3: things directly because one owning directly means you're not paying
15:01
Speaker 3: a fund manager to manage your funds for you. But
15:04
Speaker 3: then also you don't have the risk associated with somebody
15:08
Speaker 3: selling down an asset that you might not want to lose.
15:11
Speaker 1: Yeah, so you're in power.
15:13
Speaker 3: Yeah, you've got the power once you own direct shares,
15:15
Speaker 3: whereas an ETF carries a little bit of risk because
15:18
Speaker 3: someone else is making the decisions on your behalf.
15:20
Speaker 1: Okay, so tell me if I've got this right. As
15:22
Speaker 1: a bit of a recap compound interest is a fabulous
15:25
Speaker 1: thing because we make more money. Diversification is great because
15:28
Speaker 1: we're mitigating risk, and an ETF means we own shares
15:32
Speaker 1: but not directly, and it can be a great intro
15:34
Speaker 1: into the market. I think I'm finally starting to get
15:37
Speaker 1: a handle on this.
15:38
Speaker 3: I think you are as well.
15:39
Speaker 1: Goodbye then, Hi there, you've called the shoes on the
15:47
Speaker 1: Money Hotline. Do you have a money problem you want
15:49
Speaker 1: help solving. Do you have a money dilemma you just
15:51
Speaker 1: want to chat about. Victoria is here to help. Each
15:54
Speaker 1: week we'll be playing your hotline questions to help make
15:57
Speaker 1: sense of the money mess you may have found yourself in.
15:59
Speaker 1: Give us all on four three, five, two nine three
16:02
Speaker 1: double eighty six and you might find yourself on the show.
16:13
Speaker 5: Hi there, I have a question about investing. I have
16:19
Speaker 5: absolutely no idea where to start. In terms of investing.
16:22
Speaker 5: I've set up my super account of research that I have,
16:26
Speaker 5: you know, consulted people, and I feel like my super
16:29
Speaker 5: is really well set up and researched. However, for my
16:33
Speaker 5: long term gain obviously, but in terms of short term gain,
16:36
Speaker 5: maybe for the next five to ten years. In terms
16:39
Speaker 5: of investing, I have absolutely no idea where to start,
16:42
Speaker 5: and I would really love to help. You know, I'm
16:45
Speaker 5: quite scared, to be honest, to put money into it
16:47
Speaker 5: that I want to learn and I want to give
16:48
Speaker 5: it a go, So any help around anything investing would
16:51
Speaker 5: be really beneficial.
16:53
Speaker 1: Thanks Victoria. I've actually seen this a lot in the
16:56
Speaker 1: Facebook group. Where do you start with investing? How much
17:00
Speaker 1: money do you need? Do you need one lump sum
17:03
Speaker 1: or is it more like a series of deposits?
17:05
Speaker 3: So you're right, this is something that comes up all
17:08
Speaker 3: the time, and it's probably the biggest question I get.
17:11
Speaker 3: Where do I start with investment? This is a really
17:14
Speaker 3: hard question to answer because everybody is so different, so
17:18
Speaker 3: investment is a really personal thing. But I would love
17:21
Speaker 3: to be able to give you guys a little bit
17:23
Speaker 3: of direction in terms of where you can actually start.
17:26
Speaker 3: So there's a few places. So you can start with
17:29
Speaker 3: investment platforms like rais or Spaceship or you know micro
17:32
Speaker 3: investment platforms that start you off in an investment platform
17:37
Speaker 3: and you can start tracking the market and see what
17:39
Speaker 3: it does and understand risk profiles and understand what's going on.
17:43
Speaker 3: They're really really great resources. You can go to the
17:46
Speaker 3: ASX website. At the moment, they've just released the ASX
17:50
Speaker 3: trading game. It's a bit like Monopoly, but it's online
17:53
Speaker 3: and you can play with shares with fake money, and
17:56
Speaker 3: you know, see how you go for a little while
17:58
Speaker 3: doing it on your own. I mentioned in our last
18:01
Speaker 3: episode a number of different platforms, and now I'm not
18:04
Speaker 3: saying I recommend them, but a number of different reputable
18:08
Speaker 3: platforms that you're able to buy shares directly through. And
18:12
Speaker 3: then you're also able to see a financial advisor. And
18:15
Speaker 3: whilst I think that that's a really intimidating response, it's
18:18
Speaker 3: probably the best one, to be honest. And that's not
18:21
Speaker 3: because I'm a financial advisor and I want you guys
18:23
Speaker 3: all to come and see me, but yeah, please do. Yeah,
18:26
Speaker 3: shameless self promotion, but seeing a financial advisor means you're
18:30
Speaker 3: going to get a customized strategy that suits the goals
18:33
Speaker 3: you're trying to achieve and puts you in the best
18:36
Speaker 3: possible position to achieve all of those goals and create
18:39
Speaker 3: wealth long term. So the listener that we were just
18:42
Speaker 3: listening to before mentioned that she wanted some short term
18:46
Speaker 3: investment topics.
18:47
Speaker 1: Yes you did.
18:48
Speaker 3: Yeah, I don't recommend short term investment. If you are
18:50
Speaker 3: looking to invest money for five years, it's just simply
18:53
Speaker 3: not enough. You need to be looking at investing for
18:56
Speaker 3: the long term. She sounded really on top of her.
18:58
Speaker 3: Super sounded really on top you know what she'd been
19:00
Speaker 3: looking at. But investment is something that we are looking
19:03
Speaker 3: at for the long term, not for the short term.
19:05
Speaker 3: If you're looking to invest money for anything under five years,
19:09
Speaker 3: I'd honestly be really hesitant to expose it to the
19:12
Speaker 3: share market because it's just too volatile in that short
19:15
Speaker 3: period of time. However, over twenty thirty years, the volatility
19:20
Speaker 3: of the share market, which means how much it fluctuates,
19:23
Speaker 3: is far far less, And I don't think there's been
19:26
Speaker 3: a period of time in the Australian share market history
19:29
Speaker 3: where we have had a negative return over a thirty
19:32
Speaker 3: year period. So for me, long term investment is where
19:36
Speaker 3: we're at. It's not about investing for five or six years.
19:39
Speaker 3: It's about creating a strategy that you can have forever.
19:42
Speaker 1: So if I had like fifty grand in savings, not
19:45
Speaker 1: that I do, sad, that's not enough. I need to
19:48
Speaker 1: be able to make it a long term consistent lifestyle
19:51
Speaker 1: mindset kind.
19:52
Speaker 3: Of thing lifestyle mindset is absolutely correct. However, you don't
19:57
Speaker 3: need fifty thousand dollars in savings to start a sharepot fall.
20:00
Speaker 3: What you need is good savings habits, and you need
20:03
Speaker 3: to be able to contribute to your investment plan on
20:06
Speaker 3: a regular basis. So in the last episode, I explained
20:10
Speaker 3: that to create wealth, you needed to spend less than
20:13
Speaker 3: you earn and you need to consistently invest over the
20:17
Speaker 3: long term. And to be able to do that, you
20:19
Speaker 3: don't need a massive amount of capital to start. It's nice,
20:22
Speaker 3: it's a great place to begin, but if you don't
20:24
Speaker 3: have that, work out how much per month you're going
20:27
Speaker 3: to be able to invest, whether that's three hundred dollars
20:30
Speaker 3: five hundred dollars, are you able to invest one thousand
20:32
Speaker 3: dollars a month? Work out a way that you can
20:35
Speaker 3: test yourself on that. So I'm not saying commit yourself
20:38
Speaker 3: to something that you can't maintain, but maybe over the
20:40
Speaker 3: next three months, work out if you can put that
20:42
Speaker 3: five hundred dollars a month aside and you don't miss
20:45
Speaker 3: it too much, then work out how am I going
20:48
Speaker 3: to do this? And that's when you need to talk
20:49
Speaker 3: to a financial advisor. To create that strategy that is
20:52
Speaker 3: going to endure and make sure that you are achieving
20:54
Speaker 3: those goals.
20:55
Speaker 1: Right, let's roll into our second question.
21:01
Speaker 6: Hi, Victorian and Annabel, I just have a quick question
21:03
Speaker 6: for you. What is Raise and why does everyone in
21:05
Speaker 6: the Facebook group always talk about it?
21:07
Speaker 3: Thanks?
21:09
Speaker 1: Victoria? What's Raised? Can you give us a quick summary?
21:12
Speaker 4: So?
21:13
Speaker 3: Raises an investment product. It is something that you know,
21:16
Speaker 3: gets a lot of exposure through the She's on the
21:18
Speaker 3: Money community because I think a lot of people in
21:20
Speaker 3: the group are already invested in it or see it
21:23
Speaker 3: as a really accessible way to begin their investment journey,
21:26
Speaker 3: which it absolutely is. However, it is just one investment
21:30
Speaker 3: product in a sea of many. So as much as
21:33
Speaker 3: it's got more exposure, I don't think Raise is, you know,
21:36
Speaker 3: necessarily the perfect tool for everybody. It's great personally, I
21:40
Speaker 3: have it in addition to my actual share portfolio because
21:43
Speaker 3: I really like it. I think it's a really great
21:45
Speaker 3: little roundup tool. I invest a small amount per month
21:48
Speaker 3: so I can see it grow, But once I reach
21:50
Speaker 3: a certain number, I then sell down my portfolio and
21:54
Speaker 3: shift that money into my wider portfolio because I have
21:57
Speaker 3: lower fees in there. Okay, So we've had a lot
22:00
Speaker 3: of conversations this week in the Facebook group about the
22:03
Speaker 3: fees on rays being exorbitant at the end of the day, yes,
22:06
Speaker 3: they are expensive if you only have fifty or one
22:08
Speaker 3: hundred dollars in the account. But the purpose of investment
22:11
Speaker 3: is to consistently invest over the long term, and if
22:15
Speaker 3: you are consistently investing, that fee becomes lower and lower
22:18
Speaker 3: and lower. So a five dollar fee on a fifty
22:21
Speaker 3: dollars investment sounds like a lot, But once you're looking
22:23
Speaker 3: at you know, two or three or four thousand dollars
22:25
Speaker 3: in your raise account, which is the ultimate goal, you know,
22:29
Speaker 3: that fee kind of dissipates and becomes not as impactful
22:32
Speaker 3: as it would be at the very beginning of your
22:35
Speaker 3: investment journey. So I think it's really important to realize
22:38
Speaker 3: that you know, with every investment product there will be fees,
22:41
Speaker 3: and with every investment product it might not be the
22:43
Speaker 3: right product for you. You really need to be reading
22:46
Speaker 3: their product exclosure statements and understanding what that product does,
22:49
Speaker 3: why it does it, and how it works.
22:55
Speaker 6: Hi, guys, I'm just wondering if it's better off investing
22:58
Speaker 6: your disposable income to a hedge fund account or to
23:03
Speaker 6: set up a high interest earning saving account with a bank.
23:07
Speaker 6: Loving the podcast, thank you so much.
23:10
Speaker 1: All right, So what actually is a hedge fund?
23:13
Speaker 3: So hedge fund uses more than one type of investment strategy,
23:17
Speaker 3: so it's kind of like diversifying, but not just in stocks,
23:20
Speaker 3: in the strategy that you use to invest in the stocks.
23:24
Speaker 3: It's a bit like a managed fund. However, the scope
23:27
Speaker 3: is a lot broader and they often invest in private businesses.
23:31
Speaker 3: So essentially, in my experience, they are for higher network
23:34
Speaker 3: people who are prepared to pay a fair bit more
23:37
Speaker 3: money to invest their money in investments that other people
23:40
Speaker 3: aren't invested in. They tend to take up quite a
23:43
Speaker 3: lot of fees, so they tend to take on quite
23:45
Speaker 3: a lot of risk to justify the fees that they have.
23:48
Speaker 3: And generally these fees are anywhere between two and four
23:50
Speaker 3: percent of the funds that you have in that account,
23:53
Speaker 3: which is actually quite a high investment fee. So just
23:55
Speaker 3: to normalize that a little bit, average investment fees should
23:58
Speaker 3: be under one percent if you're paying investment.
24:01
Speaker 1: Fees, and what are the hedge fund fees.
24:04
Speaker 3: So they could be anywhere between two and four percent? Okay,
24:07
Speaker 3: so there are a lot more than average. You know
24:08
Speaker 3: your ETF or your direct managed fund, or you know
24:11
Speaker 3: what you're working on with your financial advisor.
24:14
Speaker 1: So you said the term diversification before. Yes, that's a
24:17
Speaker 1: good thing.
24:17
Speaker 3: Right, Diversification is really good, and that's actually what hedging means.
24:21
Speaker 3: So hedging means protecting against risk. However, a hedge fund
24:27
Speaker 3: is a lot, in my experience, is a lot more
24:30
Speaker 3: risky than you know, an ETF or something that is
24:32
Speaker 3: quite vanilla. Hedge funds I probably wouldn't be playing with
24:36
Speaker 3: if they're your first investment or you know, you're first
24:39
Speaker 3: getting into the market. But I think that it's really
24:41
Speaker 3: important to understand what they are, how they work, and
24:45
Speaker 3: you know when you might be using them.
24:47
Speaker 1: So if you're a high net wealth client.
24:49
Speaker 3: Yes, but also if you've got the risk profile for it,
24:52
Speaker 3: so you know, you could be a really conservative investor
24:54
Speaker 3: and a hedge fund might not be the right option
24:56
Speaker 3: for you, Whereas if you have you know the capacity
24:59
Speaker 3: and and the want to take on a lot more risk,
25:01
Speaker 3: a hedge fund might be a place that you want
25:03
Speaker 3: to start investing. It's all about understanding your risk profile. Again,
25:07
Speaker 3: I probably sound like a broken record here, but understanding
25:10
Speaker 3: your risk profile is the most important part of investment
25:13
Speaker 3: because as boring as this sounds, and as much as
25:15
Speaker 3: a lot of people laugh at me when I say
25:17
Speaker 3: this as a financial advisor, I just want you to
25:19
Speaker 3: be able to sleep at night, and that means not
25:21
Speaker 3: stressing every minute of the day. And you know when
25:24
Speaker 3: you go to bed about your investments, and if you are,
25:26
Speaker 3: you really need to have a look at maybe changing
25:28
Speaker 3: that strategy, becoming more educated on it, or talking to
25:32
Speaker 3: your financial advisor about how to diversify even further to
25:35
Speaker 3: make sure that that's not an issue for you.
25:38
Speaker 1: Now it's time for our weekly money dary. My favorite
25:41
Speaker 1: part today's money dary is from a twenty four year
25:45
Speaker 1: old PhD student who isn't able to work because of
25:48
Speaker 1: a demanding university course.
25:49
Speaker 4: I'm living off a research stipend, so I kind of
25:52
Speaker 4: get paid to study, which means I don't have much
25:55
Speaker 4: time to do actual work, and it means I have
25:58
Speaker 4: to live off about thirty grand.
26:00
Speaker 1: Okay, so we know twenty four and living off a
26:02
Speaker 1: scholarship spends a bunch of time at university. But let's
26:05
Speaker 1: hear the nitty gritty stuff. How much does she earn
26:07
Speaker 1: and how much is sitting in her bank account right now.
26:10
Speaker 4: I'm doing a PhD in psychology. It's actually twenty eight grand,
26:14
Speaker 4: and then I do a little bit of teaching, so
26:16
Speaker 4: pushes it up to thirty and I think thirty sounds
26:19
Speaker 4: a lot more adult than twenty eight. For some reason,
26:22
Speaker 4: that true grand makes a little bit of a difference.
26:24
Speaker 3: I have about.
26:24
Speaker 4: Seven grand, but that is only because I have been
26:27
Speaker 4: living at home until very recently, so most of that
26:30
Speaker 4: saving is not from what my life is like right now.
26:33
Speaker 4: It's most of that saving is from when I was
26:35
Speaker 4: having at home and was working but not didn't really
26:38
Speaker 4: have any kind of expenses. So I moved out of
26:40
Speaker 4: home about eight months ago and basically paying rent on
26:44
Speaker 4: my income. I've really been struggling to save anything more
26:47
Speaker 4: than like one hundred dollars a week.
26:49
Speaker 3: Got fifty dollars a week.
26:50
Speaker 1: So we know how twenty four and living off a
26:52
Speaker 1: scholarship gets paid, But what exactly happens to that money
26:55
Speaker 1: after it's deposited into her account?
26:57
Speaker 4: So it comes in about every fortnight and each fortnite,
27:01
Speaker 4: so it's about one tho sixty a fortnite, and then
27:05
Speaker 4: I pay rent every month, and that the scholarship that
27:08
Speaker 4: comes during that time goes all of it goes towards rent,
27:11
Speaker 4: and then the pay before that kind of is what
27:13
Speaker 4: I live off. So every month I get kind of
27:16
Speaker 4: two paychecks and they're both the same, about one thousand
27:19
Speaker 4: and sixty one goes the entire one goes to rent,
27:22
Speaker 4: and then the.
27:22
Speaker 1: Other one I live off.
27:23
Speaker 4: And then in the introm when I'm teaching, I try
27:26
Speaker 4: and save what I can with a little bit of
27:29
Speaker 4: extra kind of money that comes in, which is probably
27:32
Speaker 4: about two three hundred a fortnite, so it's not a
27:36
Speaker 4: whole lot, but yeah, I try and put away a
27:38
Speaker 4: tiny bit.
27:38
Speaker 1: If I count every month, probably ranges from.
27:41
Speaker 4: About gosh, it can be like twenty dollars some months
27:44
Speaker 4: where things are a bit grim, but then it can
27:48
Speaker 4: also be up to like two three hundred dollars a month.
27:51
Speaker 1: So she's got a pretty healthy sum in her bank account.
27:53
Speaker 1: How does she go with investing?
27:54
Speaker 3: Though?
27:55
Speaker 1: Oh dear.
27:58
Speaker 4: The period we're bitcoin real one found out about bitcoin,
28:02
Speaker 4: I was like, I should definitely buy some bitcoin. So
28:05
Speaker 4: I decided to buy some bitcoin when everyone knew about bitcoin,
28:09
Speaker 4: and then it went down straight after that, so I
28:13
Speaker 4: absolutely do not know anything about investing, and I probably
28:16
Speaker 4: should know a little bit.
28:17
Speaker 3: More about it.
28:17
Speaker 1: And what about her debts?
28:19
Speaker 4: Oh, this is a this is a sad one. I
28:22
Speaker 4: have about forty grand of hextet at the moment, and
28:26
Speaker 4: actually did not even think about it until I was
28:28
Speaker 4: asked to do this little podcast segment. It's just it's
28:32
Speaker 4: something that I just pretend doesn't exist. I guess because
28:35
Speaker 4: I'm probably not going to be earning enough to pay
28:37
Speaker 4: it off for the next two three years. I actually
28:40
Speaker 4: didn't even know how much I had in debt until
28:42
Speaker 4: I was going until I knew that I was gonna
28:45
Speaker 4: be asked this question.
28:46
Speaker 1: Forty grand sounds like a lot. Just twenty four are
28:49
Speaker 1: living off a scholarship. Have any good money habits that
28:51
Speaker 1: she's especially proud of?
28:52
Speaker 4: Oh, I think it's actually it's probably being in a
28:56
Speaker 4: probably always making sure that I can put away at
28:58
Speaker 4: least a tiny bit each month, and some months that
29:01
Speaker 4: tiny bit might actually just be like fifty dollars. But
29:04
Speaker 4: I've just been in a habit. I've just been in
29:06
Speaker 4: the habit of putting away what I can every month
29:09
Speaker 4: for almost as long as I remember. It used to
29:13
Speaker 4: be a lot more when I was living at home,
29:14
Speaker 4: and now it actually very often than not, is like
29:17
Speaker 4: fifty or one hundred dollars a month. But I think just
29:19
Speaker 4: being just knowing that I.
29:21
Speaker 1: Should do that is a good habit. What about her
29:24
Speaker 1: worst money habit?
29:25
Speaker 3: Probably coffee.
29:25
Speaker 4: Actually, I'm really lucky in that where I work three
29:29
Speaker 4: days a week there's a coffee machine, but the other
29:31
Speaker 4: two days I work somewhere else and unfortunately they don't
29:35
Speaker 4: have a coffee machine. So it means that I buy
29:37
Speaker 4: buy coffee about twice a week during the week and
29:39
Speaker 4: then twice on the weekend, so by coffee about four
29:41
Speaker 4: days a week. And then I also spent a lot
29:43
Speaker 4: on Uber eats. So coffee and Uber eats are probably
29:47
Speaker 4: my worst worst money habits, and probably also online shopping.
29:52
Speaker 4: I get can be really impositive when I like something,
29:55
Speaker 4: I think that that happens more with the money. The
29:58
Speaker 4: less money I have, I think I make more decisions
30:00
Speaker 4: because I get into the mindset off I am actually
30:03
Speaker 4: earning like nothing, and I'm probably gonna save like almost
30:06
Speaker 4: nothing this month, so I might as well just buy
30:08
Speaker 4: like the pair of pants that I want. It's like
30:12
Speaker 4: when you can't go up much more. It's just it's
30:15
Speaker 4: easy to go down a little, if that makes sense.
30:18
Speaker 1: So what's twenty four and living off a scholarship actually
30:21
Speaker 1: saving four? What's a big money goal?
30:23
Speaker 4: I think for the next two years, I can see
30:25
Speaker 4: my goals being really aligned to just making sure that
30:28
Speaker 4: I travel as much as I can.
30:30
Speaker 3: When I start.
30:31
Speaker 4: Working full time, which will probably be in about two
30:34
Speaker 4: or three years, that's when I can see my goals
30:36
Speaker 4: changing adjusting a little bit. But I think only because
30:40
Speaker 4: hopefully be able to travel at the same time as
30:42
Speaker 4: aiming to aiming for a bigger goal, like I feel
30:45
Speaker 4: like I should say buying a house, because everyone wants
30:48
Speaker 4: things that you should want to buy a house. Maybe
30:50
Speaker 4: it will be that in three years time. I can
30:52
Speaker 4: also see myself not buying a house for like ten
30:55
Speaker 4: fifteen years.
30:55
Speaker 3: It's just not something that I feel.
30:57
Speaker 4: I can feel like a lot of pressure in that
30:58
Speaker 4: I should want to buy, but it's not something that
31:01
Speaker 4: actually really want.
31:02
Speaker 1: How would today's money diarist rate her own relationship with
31:05
Speaker 1: money if we force her to give herself a grade?
31:07
Speaker 4: Gosh, probably like a D minus because but I think
31:13
Speaker 4: that D minus is mainly because what I want to
31:15
Speaker 4: spend my money on is stuff that's not going to
31:18
Speaker 4: actually make my account grow, like investment properties or I
31:23
Speaker 4: actually have absolutely zero interest in investing my money in anything,
31:26
Speaker 4: and my only goals are really about are full. I
31:30
Speaker 4: like explurge on dinners and I gu out with friends,
31:32
Speaker 4: and I don't think I think twice at the moment
31:34
Speaker 4: about doing that. I think the seven ground that I
31:36
Speaker 4: have in my savings account is purely for experiences, and
31:40
Speaker 4: it's purely so that I can travel next year when
31:43
Speaker 4: for like a longer time period than this year. And
31:46
Speaker 4: it is purely because I think it's almost a safety
31:49
Speaker 4: inn I'm worried that like one day I'll have to
31:52
Speaker 4: one day I won't, we'll go up, or when I
31:54
Speaker 4: have to pay my car insurance stuff. It's mainly for
31:57
Speaker 4: stuff like that. It's not so much the seven ground
31:59
Speaker 4: is not so much to one day invest in something
32:01
Speaker 4: that's going to make my bank account grow more. So
32:04
Speaker 4: I think that not having that money for sight is
32:06
Speaker 4: why probably why would I would give myself like a
32:08
Speaker 4: D minus.
32:10
Speaker 1: So she said that the less money you have in
32:13
Speaker 1: your savings, the more impulsive you are with buying, and
32:15
Speaker 1: I totally relate to that.
32:17
Speaker 3: I feel like, that's a really true thing, right, Yes,
32:20
Speaker 3: money is really emotional, so I think that if we
32:23
Speaker 3: don't have a lot of it and we're feeling quite
32:26
Speaker 3: emotional about that, it's really easy to buy something to
32:29
Speaker 3: make us feelings. What you're said, Yeah, which I'm really
32:33
Speaker 3: good at, by the way, it's a skill.
32:35
Speaker 1: So what is she doing well?
32:36
Speaker 3: I think what she's doing really well is aligning her
32:39
Speaker 3: spending to her values. So, you know, she mentioned that
32:42
Speaker 3: she spends on coffee, and maybe that was her downfall,
32:44
Speaker 3: but I think that if that's something she values, go
32:46
Speaker 3: for it. Spend money on that make yourself feel good
32:48
Speaker 3: in that aspect. Coffee at the end of the day,
32:51
Speaker 3: is not spending seven hundred dollars a month on shopping.
32:54
Speaker 3: It is, you know, a small win that makes you
32:56
Speaker 3: feel good about yourself. And if that's her I guess
32:59
Speaker 3: money fall, think that's a pretty good thing. But traveling, Yeah,
33:02
Speaker 3: Also she said that she really likes traveling and that
33:04
Speaker 3: her money is going towards that. So what she told
33:07
Speaker 3: us was her values, and then she told us that
33:09
Speaker 3: her values are being met with her income. And I
33:12
Speaker 3: think that that's a really good thing in terms of
33:16
Speaker 3: negative things though, dnus Like, I don't agree with that,
33:20
Speaker 3: but I do agree with that in relation to bitcoin,
33:23
Speaker 3: like that wasn't a great bitcoin, No, do not bring
33:26
Speaker 3: back bitcoin. I think that that was a really good
33:29
Speaker 3: example of how emotional investment works actually, And you'd think
33:35
Speaker 3: that people in this industry would be really rational and
33:38
Speaker 3: people in general would be really rational, but they aren't.
33:41
Speaker 3: And the emotions of an investor, especially when they can
33:44
Speaker 3: see people around them jumping on something, makes them, I guess,
33:49
Speaker 3: have a little bit of fomo. Right, So like you go, oh,
33:51
Speaker 3: my friend's got bitcoin, I should have bitcoin, but you
33:54
Speaker 3: don't fully understand it. I have never recommended bitcoin to anyone,
33:59
Speaker 3: nor have I pert just h myself, and I think
34:01
Speaker 3: that that's probably telling in terms of how great of
34:04
Speaker 3: an investment it is. Yes, a lot of money was
34:07
Speaker 3: made in that investment, but the money that was made
34:10
Speaker 3: was through people who knew about bitcoin before we were
34:13
Speaker 3: talking about it at brunch. Yeah, so you know, if
34:15
Speaker 3: you're talking about an investment over brunch with friends, I
34:19
Speaker 3: think that that investment might have already had its time
34:22
Speaker 3: to shine and it's not time to invest in that yet.
34:26
Speaker 3: But we also really need to be having a think
34:28
Speaker 3: about who we're taking investment advice from. Because if we're
34:32
Speaker 3: sitting at brunch with a friend who said I invested
34:34
Speaker 3: in this, and you decided that an investment decision was
34:37
Speaker 3: a good one because your friend was in it, are
34:39
Speaker 3: you really getting educated content? Are you really making decisions
34:43
Speaker 3: that are best for you over the long term.
34:45
Speaker 1: That's all we have time for today. Unfortunately, just before
34:48
Speaker 1: we head off, though, as always, let's quickly wrap the
34:50
Speaker 1: boring but important stuff. The advice shared on She's on
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Speaker 1: your individual circumstances. She's on the Money exists purely for
34:59
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Speaker 3: Bye, guys, see you later.