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Growth vs. Dividend Investing · She's On The Money

0:00
Speaker 1: Just before we get started, we'd like to acknowledge and
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Speaker 1: pay respect to Australia's Aboriginal and torrest Rate islander peoples.
0:07
Speaker 1: They're the traditional custodians of the lands, the waterways and
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Speaker 1: the skies all across Australia. We thank you for sharing
0:13
Speaker 1: and for caring for the land on which we are
0:15
Speaker 1: able to learn. We pay respects to elders past and present,
0:19
Speaker 1: and we share our friendship and our kindness.
0:22
Speaker 2: She's on the Money, She's on the Money.
0:44
Speaker 3: Hello, and welcome to She's on the Money, the podcast
0:48
Speaker 3: for millennials who want financial freedom. Half of Australians, an
0:52
Speaker 3: estimated nine point five million people now own shares. But
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Speaker 3: if you don't know your divid beginnings from your dividends,
1:01
Speaker 3: this is the episode for you. My name is Georger
1:05
Speaker 3: King and joining me as always to discuss growth investing
1:08
Speaker 3: versus dividend investing is financial advisor Victoria define V.
1:13
Speaker 1: How funny this early in the morning, G King, how
1:16
Speaker 1: like it? I like it? Indeed, it is a hot topic.
1:19
Speaker 1: I mean probably not a hot topic in our community yet,
1:22
Speaker 1: but a hot topic in my world and something that
1:25
Speaker 1: I really really want to talk about and low key
1:28
Speaker 1: The reason I want to talk about it is because
1:29
Speaker 1: I've just finished writing the chapters in my book on
1:32
Speaker 1: dividend and growth investing in I was like, we need
1:34
Speaker 1: to talk about this because they're both very different strategies,
1:37
Speaker 1: and I really think that there's so much value in
1:40
Speaker 1: really deeply understanding different strategies, even if you're not planning
1:44
Speaker 1: on investing yet. Like, I just want you to know
1:46
Speaker 1: when someone says I'm a growth investor, you don't just
1:49
Speaker 1: go that's your risk profile, right, because it's not. But Gking,
1:52
Speaker 1: did you know that during the COVID nineteen Panini we
1:55
Speaker 1: actually saw a surge in first time investors. The Panini
1:58
Speaker 1: the se a very delicious, disgusting sandwich, but nobody wants
2:03
Speaker 1: to buy at the shop love it? Okay?
2:04
Speaker 3: Hang on, So you said we saw a search in
2:06
Speaker 3: first time investors through the Panini.
2:08
Speaker 1: Through the Beanini. Why Well, I would love to think
2:12
Speaker 1: it was because that's also when she's on the money
2:14
Speaker 1: was finding its feet. Genuinely, I'm just correlation, not causation,
2:18
Speaker 1: So we'll just go with that. But what I think
2:21
Speaker 1: it is is a lot of people were home thinking
2:23
Speaker 1: about their wealth. There was a lot more journalism about it,
2:26
Speaker 1: there was more stuff in the media, and we've also
2:28
Speaker 1: seen a whole heap of brilliant new micro investing and
2:32
Speaker 1: individual share investing companies pop up that are making investing
2:36
Speaker 1: so much more accessible. So I think it's pretty amazing,
2:38
Speaker 1: obviously because this is what I'm passionate about, but also
2:41
Speaker 1: adore that people are prioritizing their money. But it also
2:43
Speaker 1: tells us that a lot of people are now taking
2:46
Speaker 1: the leap into the investing world for the first time
2:48
Speaker 1: and putting future them first, which I love. And if
2:51
Speaker 1: you are in the privileged position of being able to
2:53
Speaker 1: do this, then yay, exciting for you. And g research
2:57
Speaker 1: done by our friends that Finder last year actually showed
3:00
Speaker 1: that gen Z so those people twenty five and under
3:04
Speaker 1: which we are not Georgia King, they tend to find
3:07
Speaker 1: investing the least intimidating and they are more likely to
3:10
Speaker 1: give shares ago than any other generation, followed closely by
3:13
Speaker 1: jen y, which is us those peeps who are aged
3:16
Speaker 1: between twenty six and forty. So double yay. This makes
3:19
Speaker 1: me really really happy. So I thought today, even though
3:22
Speaker 1: you don't seem that keen on it by the look
3:24
Speaker 1: on your face, I thought today we would take a
3:27
Speaker 1: little bit two different types of investments and get to
3:29
Speaker 1: know them a little.
3:30
Speaker 3: Bit deeper before we do move on. Really shocked that
3:34
Speaker 3: people twenty five and under are the ones that aren't
3:38
Speaker 3: afraid of investing. That is news to me. What's that about?
3:41
Speaker 1: I don't know, Like, these are the ones that are
3:43
Speaker 1: on TikTok and they're just much cooler than us. Like,
3:45
Speaker 1: if you're onto the age of twenty five and listening
3:47
Speaker 1: to this podcast, like you already know you're cooler than us.
3:49
Speaker 1: So I'm just I reckon. That's here, just the cool fact.
3:52
Speaker 3: Okay, interesting, interesting take. So let's talk growth versus dividend investing.
3:58
Speaker 1: Can't wait?
3:58
Speaker 3: What are they like? Comparing apples and oranges? Gucci and Kmart? Perhaps,
4:04
Speaker 3: talk me through it. That's a very big parallel.
4:07
Speaker 1: I like the Gucci Camart kind of vibe because on
4:09
Speaker 1: the way, oh no, no, absolutely not, I wore a
4:13
Speaker 1: Kmart headband with a very expensive pair of designer shoes
4:16
Speaker 1: and I was just real happy about it.
4:18
Speaker 3: A gorgeous fusion, yeah, a gorgeous.
4:20
Speaker 1: Fusion that aligned with my values and also made me
4:22
Speaker 1: really happy because I liked both of those things equally.
4:26
Speaker 3: Perfect let's bring us back to investing. No, I want
4:29
Speaker 3: to talk about shoes, growth, fee, dividend just what. So
4:33
Speaker 3: I wouldn't say it's like apples and oranges. I also
4:36
Speaker 3: wouldn't say it's like a Gucci Kmart comparison. It's actually
4:40
Speaker 3: just different strategies for different times in your life. So
4:44
Speaker 3: to quickly summarize, a growth investment is one where you're
4:48
Speaker 3: investing in that particular share because you are hoping that
4:51
Speaker 3: it increases in value. You're not looking at it going,
4:54
Speaker 3: oh my gosh, the dividends it pays out are so sexy.
4:58
Speaker 3: I really want to have some dividends in my life.
5:00
Speaker 3: You're actually looking at it going, hey, that company has potential.
5:04
Speaker 3: I'm young, I have the power of time on my side,
5:07
Speaker 3: and I'm going to see this grow.
5:08
Speaker 1: So at some point my portfolio is worth a lot
5:11
Speaker 1: more than it was yesterday. Then on the flip side,
5:14
Speaker 1: we've got dividend investing. Honestly, Georgia, you could be a
5:17
Speaker 1: regular investor and investing in both of these types of
5:20
Speaker 1: shares because I actually own both of these types of shares.
5:23
Speaker 1: It's just important to know why you might pick one
5:26
Speaker 1: over the other and how that works. So a dividend
5:29
Speaker 1: investing strategy or a divid end share is actually a
5:33
Speaker 1: share that you purchase, not necessarily with the intention of
5:37
Speaker 1: it becoming super super expensive on the ax. You're actually
5:40
Speaker 1: purchasing it to get some income into your portfolio. So
5:44
Speaker 1: a good example of that is blue chip shares, and
5:47
Speaker 1: that sounds like a really lame term for essentially really
5:50
Speaker 1: basic white collar shares. Like we're talking things like banks,
5:53
Speaker 1: where you know, you might look at a NAB or
5:55
Speaker 1: a CommBank or a Westpac share and they don't really
5:57
Speaker 1: fluctuate heaps in price, but they do pay a dividend
6:01
Speaker 1: because they distribute the profit that they make each and
6:04
Speaker 1: every single year to the people who are their shareholders.
6:08
Speaker 1: Whereas you look at something like an after pay which
6:11
Speaker 1: I'm using as an example because I feel like our
6:13
Speaker 1: community in our Facebook group last year, we're talking so
6:16
Speaker 1: much about after pay shares and how much they went
6:18
Speaker 1: up and that was really sexy. But after pay never
6:21
Speaker 1: paid a dividend. So the only way in that moment
6:25
Speaker 1: to make money from an after pay share was to
6:27
Speaker 1: sell them once your share price had increased in value,
6:29
Speaker 1: so like.
6:30
Speaker 3: The capital growth from it, rather than during the process.
6:33
Speaker 1: And both of those things serve us really well in
6:36
Speaker 1: a portfolio because obviously we want our portfolio to increase
6:39
Speaker 1: in value, but the closer and closer we get to retirement,
6:43
Speaker 1: the more we don't want to have to sell our
6:44
Speaker 1: shares down, but we actually want to be able to
6:47
Speaker 1: generate an income. I want my share portfolio to be
6:50
Speaker 1: paying me for having it without having to dispose of
6:52
Speaker 1: any of it or sell some of it down, like
6:55
Speaker 1: I want that to exist forever, essentially, so I can
6:57
Speaker 1: create a legacy as I get older and maybe one
7:00
Speaker 1: day when I'm not around, my future children can benefit
7:03
Speaker 1: from that instead of having to sell your assets down
7:06
Speaker 1: over time. Does that make sense?
7:07
Speaker 3: It does make sense.
7:08
Speaker 1: Good, We're done. That is the entire podcast question.
7:12
Speaker 3: Though. Can you have a growth investment that also pays dividends?
7:16
Speaker 1: Yes, you can pay okay so g Yes you can
7:20
Speaker 1: have a growth and dividend share, But they are arguably
7:23
Speaker 1: fum or rare like a unicorn. They are what I
7:25
Speaker 1: would love everybody to have, Like I would love to
7:28
Speaker 1: think that you buy a share tomorrow, get it starts
7:31
Speaker 1: paying you out a really nice dividend that you can
7:33
Speaker 1: either reinvest or uses income to fund your lifestyle and
7:37
Speaker 1: in a couple of years time, it's worth a whole
7:40
Speaker 1: heap more than it was yesterday. Sadly, they're not as
7:43
Speaker 1: common as we would like them to be though, because
7:45
Speaker 1: more often than not, when you're looking at a growth share,
7:48
Speaker 1: you've got to look at it as though you're on
7:50
Speaker 1: the journey with that business as they are growing. It's
7:54
Speaker 1: not like you're buying. And I use this example all
7:56
Speaker 1: the time just because it is a very common share
7:59
Speaker 1: now share or a combink share, like they're not consistently
8:03
Speaker 1: growing year on year on year, Like they're just a
8:05
Speaker 1: big business and all the cogs are turning and you
8:07
Speaker 1: know that they're reliable and they're not going anywhere orreas
8:10
Speaker 1: an afterpay. When they came into the market, everyone started
8:13
Speaker 1: talking about them and they had a low share price,
8:15
Speaker 1: and obviously that has increased significantly. But to have that
8:18
Speaker 1: type of growth, businesses need to reinvest in themselves, and
8:22
Speaker 1: they can't pay a dividend to you, i e. They
8:25
Speaker 1: can't give the profits to you gking because they actually
8:28
Speaker 1: need to reinvest it into the business for it to grow.
8:30
Speaker 1: So it's usually one or the other, but sometimes you
8:33
Speaker 1: do get unicorns that do both because they have increased
8:36
Speaker 1: significantly because they might have done something really sexy. But
8:40
Speaker 1: also they're in a position to pay profits out to
8:42
Speaker 1: their shareholders. But I wouldn't be banking on it, but
8:46
Speaker 1: they are my favorite type, right, Okay?
8:48
Speaker 3: So is it as simple as it's saying on the
8:51
Speaker 3: tin what is what? So, for example, you go on
8:54
Speaker 3: to the share shop and you're buying a share.
8:58
Speaker 1: The shop the shahp okay?
9:00
Speaker 3: Is it as simple as choosing like the one that
9:03
Speaker 3: says growth or dividend? Like, how do you know what
9:06
Speaker 3: you're choosing? So you've got to do a little bit
9:08
Speaker 3: of research. You've got to look into the historics of
9:11
Speaker 3: the share. It's really easyg If you just go to
9:14
Speaker 3: the ASX website and look up the share, it will
9:16
Speaker 3: tell you whether or not it has paid a dividend. Ever,
9:19
Speaker 3: what those dividends look like. So let's talk pros and
9:23
Speaker 3: cons then V we'll start with growth investing growth shares. Yes,
9:28
Speaker 3: talk me through the benefits why we should look at
9:31
Speaker 3: doing this, and then maybe the downfalls as well what
9:34
Speaker 3: we need to be mindful of.
9:35
Speaker 1: So there are a few reasons why you do both
9:38
Speaker 1: of them, right, And I actually think it plays a
9:40
Speaker 1: lot into one your risk profile, so like how willing
9:43
Speaker 1: you are to take on risk. But growth share is
9:46
Speaker 1: actually a bit riskier than a dividend share, and that's
9:49
Speaker 1: for obvious reasons because there's significant fluctuations in the share
9:52
Speaker 1: price and it's due to the growth of the company,
9:55
Speaker 1: whereas a share that actually just pays a dividend, like
9:58
Speaker 1: they're pretty tried and true when tested, like they're the
10:01
Speaker 1: steady steed that keeps plodding along. And you might be
10:04
Speaker 1: spending you know, sixty or seventy dollars a share, but
10:08
Speaker 1: you're actually buying a very small portion of income, and
10:11
Speaker 1: as time goes on, that income can do one of
10:14
Speaker 1: two things. As I said to you before, it can
10:16
Speaker 1: fund your lifestyle. So by that, I mean it just
10:18
Speaker 1: becomes income in your bank account that you can spend.
10:21
Speaker 1: But on the flip side, you could reinvest those dividends
10:24
Speaker 1: into your share portfolio, which is an option when you
10:27
Speaker 1: invest and those dividends purchase you more shares, which ultimately
10:31
Speaker 1: result in you having more shares and more income, which
10:34
Speaker 1: is really sexy. A growth share, though, as I said before,
10:38
Speaker 1: you're purchasing with the intention of it increasing significantly in
10:41
Speaker 1: price because you believe in that company, or you believe
10:44
Speaker 1: in the growth of that company and see a future
10:47
Speaker 1: with them. Sometimes growth shares turn into dividend shares, so
10:51
Speaker 1: a share might be relatively cheap on the ax and
10:53
Speaker 1: then over time it significantly increases, and maybe for the
10:56
Speaker 1: first ten years they don't pay a dividend, but then
10:58
Speaker 1: they flip over to being like, oh my gosh, we're
11:00
Speaker 1: so stable as a business. Now we're able to share
11:03
Speaker 1: the profits with our shareholders, and as a shareholder, you'd
11:06
Speaker 1: then get given your dividends, which is very exciting. I
11:10
Speaker 1: suppose the differences there are quite obvious, But when it
11:13
Speaker 1: comes to downfall, if you are closer to retirement, holding
11:18
Speaker 1: growth shares might not be aligned to the value or
11:21
Speaker 1: the strategy that you're trying to implement. Because when I'm retired,
11:24
Speaker 1: g I want to have income, Like, it doesn't actually
11:27
Speaker 1: matter what your share is worth if it's not making
11:30
Speaker 1: you any money that you can spend and fund your
11:32
Speaker 1: lifestyle with. So they have pros and cons on either side,
11:35
Speaker 1: and I think it's more about your life stage. So
11:38
Speaker 1: are you happy to invest in a growth share? If so,
11:41
Speaker 1: what does that mean? Obviously with a growth share, if
11:44
Speaker 1: you then decide to sell it, you will have capital
11:47
Speaker 1: gains tax to pay. Just as an fyi for those
11:50
Speaker 1: people who like trading shares on a short period of time,
11:54
Speaker 1: if you buy a share and then sell it within
11:57
Speaker 1: the same year, your tax is far higher than had
12:00
Speaker 1: you held it for an entire year. And a lot
12:02
Speaker 1: of people actually in our community even found themselves in
12:06
Speaker 1: a little bit of a pickle because they either bought
12:08
Speaker 1: after pay or they were buying things like bitcoin, and
12:10
Speaker 1: they were buying assets that had significantly increased in value,
12:14
Speaker 1: and they were like, oh my gosh, I got to
12:15
Speaker 1: get out, Like I don't want to be invested in this.
12:18
Speaker 1: They didn't think about their tax consequences sold it, whereas
12:21
Speaker 1: if they'd held it for another three months or so,
12:24
Speaker 1: they would have ended up with a whole heat more
12:25
Speaker 1: profit because they didn't have to pay exorbitant tax rates.
12:29
Speaker 1: So I think it's really important to know what that means.
12:32
Speaker 1: And there was a really good quote actually by our
12:35
Speaker 1: friend Warren Buffett, fancy guy man. He's arguably a growth investor.
12:39
Speaker 1: He's probably the most famous growth investor in the entire
12:42
Speaker 1: world because he purchases shares when they are significantly undervalued,
12:46
Speaker 1: and then they blow out of the water. I don't
12:48
Speaker 1: know what this guy does, whether he has a crystal
12:50
Speaker 1: ball or whether he's just a wizard, but he is
12:54
Speaker 1: arguably the only person in the entire world that I
12:57
Speaker 1: have seen be able to time the market. If I
13:00
Speaker 1: could do that, I've said on the pod before, G,
13:02
Speaker 1: I'd be a really rich woman. You would. I can't,
13:04
Speaker 1: so I have a different investing strategy than him. But
13:07
Speaker 1: he actually said, if you weren't thinking about owning a
13:10
Speaker 1: stock for ten years, you shouldn't even think about owning
13:13
Speaker 1: it for ten minutes. And I think that's really powerful
13:16
Speaker 1: here because I think too often. And we've had this
13:18
Speaker 1: conversation G, between you and I and Ana Lisa offline
13:22
Speaker 1: about how a lot of people think the way to
13:24
Speaker 1: make money in shares is to kind of be flipping
13:26
Speaker 1: them and buying them. When they increase in value, you
13:28
Speaker 1: sell them and then you buy more. Like it doesn't
13:31
Speaker 1: have to be that active. Yes, some share traders do that,
13:34
Speaker 1: but I just really feel like if you're listening to
13:37
Speaker 1: a shese on the Money podcast, you're probably not a
13:39
Speaker 1: share trader, and neither am I. And just trust Warren Buffett. Yeah,
13:44
Speaker 1: I mean, I don't know if i'd trust him because
13:45
Speaker 1: you know, it's.
13:46
Speaker 3: One hundred and twenty three point five billion US dollars.
13:49
Speaker 1: He's got a couple of dollar rues.
13:50
Speaker 3: Do you just a coupler?
13:51
Speaker 1: Do you know what? My favorite part about him is
13:53
Speaker 1: though he's cute, little muff and face, Oh my gosh,
13:55
Speaker 1: yes that, but have you looked at his house and
13:58
Speaker 1: his car? Oh my gosh, house and cup house and car.
14:02
Speaker 1: G google his house and car.
14:04
Speaker 3: I don't know what to expect here live on the pod. Okay,
14:10
Speaker 3: I was quite modest.
14:11
Speaker 1: Yeah, he lives in the house he bought for his
14:13
Speaker 1: wife before he even started being like a massive share trader.
14:17
Speaker 3: Look, is he a cross that he is incredibly wealthy?
14:20
Speaker 1: Yeah, he just doesn't see the value in purchasing that. No,
14:26
Speaker 1: assets don't matter to this man, and I really respect that.
14:29
Speaker 1: Like me, he is arguably one of the richest men
14:31
Speaker 1: in the world. He has everything at his disposal. He
14:34
Speaker 1: could buy mega mansions with his change. Yet he's like
14:39
Speaker 1: the house my wife and I bought, like it does
14:41
Speaker 1: the job?
14:42
Speaker 3: Good on you, Warren, if you're listening. Should we move
14:44
Speaker 3: on now to dividend investing? V talk us through the
14:47
Speaker 3: pros and the cons there.
14:48
Speaker 1: I love a good dividend share, and the reason I
14:50
Speaker 1: do is because I love being paid to own things
14:52
Speaker 1: Like how cool Like g if you earn that water bottle,
14:55
Speaker 1: I give you twenty cents every year.
14:57
Speaker 3: That's fun.
14:58
Speaker 1: That's fun. Like that's what a shared. It's very very exciting.
15:01
Speaker 1: But with dividend shares, you actually are a winner in
15:05
Speaker 1: arguably two ways. I mean, you're a winner with growth
15:07
Speaker 1: shares as well, So it's not to say one is
15:08
Speaker 1: better than the other, but they both have underlyingly different strategies.
15:13
Speaker 1: So when a share rise is in value and the
15:16
Speaker 1: company cuts you a check, they're basically giving you a
15:18
Speaker 1: portion of the profits. So they're saying, look, je, you've
15:21
Speaker 1: owned this company and you're basically a mini company owner. Therefore,
15:25
Speaker 1: any money that we make you get a percentage of.
15:28
Speaker 1: So the better that company does in a financial year,
15:31
Speaker 1: the better your dividend is going to look. But the
15:33
Speaker 1: same is true if that company doesn't do well. So
15:36
Speaker 1: if they don't turn a profit, you don't get a dividend.
15:38
Speaker 1: So there's obviously a little bit of risk there when
15:40
Speaker 1: you are purchasing these, But if the share price of
15:43
Speaker 1: an individual stock decides to rise by let's say four percent,
15:47
Speaker 1: and the company then pays you a three percent dividend
15:50
Speaker 1: out you're going to pocket a seven percent profit minus taxes.
15:55
Speaker 1: So for me, one of the main benefits is essentially
15:57
Speaker 1: you securing a steady stream of income for yourself. So
16:01
Speaker 1: it's not something that we can all afford to run
16:04
Speaker 1: out and buy enough shares in a dividend company to
16:07
Speaker 1: replace our incomes. That takes a long time. But the
16:10
Speaker 1: benefit of the dividend share is that over time, when
16:14
Speaker 1: you get paid a dividend when you are young, or
16:16
Speaker 1: you are like me and you're not looking to make
16:18
Speaker 1: money in the short term from your investment portfolio, I'm
16:22
Speaker 1: doing that for future me. I reinvest all of my
16:24
Speaker 1: money and the power of compounding interest is wild. So
16:28
Speaker 1: say in the first year, you know, you get a
16:29
Speaker 1: seven point five percent return g and you've got you know,
16:32
Speaker 1: one thousand dollars in the market. You'll be like, well, V,
16:35
Speaker 1: that's like not that much money in the grand scheme
16:38
Speaker 1: of things, I can't retire. But over time, that seven
16:41
Speaker 1: point five percent that your money made the previous year
16:44
Speaker 1: is now going to make money the year after for you.
16:48
Speaker 1: So the money that your money made is now making
16:50
Speaker 1: you money. And if you then stretch that over a
16:53
Speaker 1: period of like thirty plus years, that's a lot of
16:56
Speaker 1: money and a lot of good return. And one of
16:59
Speaker 1: my favorite exams, which if you've listened to this podcast before,
17:02
Speaker 1: I do apologize, but I want it batted into your brains,
17:06
Speaker 1: and that is if you're investing for a thirty year period.
17:09
Speaker 1: So say you twenty one and you're like, you know what,
17:11
Speaker 1: I really want to invest all the way up until retirement.
17:14
Speaker 1: I'm going to do five hundred dollars a month, every
17:17
Speaker 1: single month until I retire at sixty five. We're going
17:20
Speaker 1: to have an average rate of return of seven and
17:22
Speaker 1: a half percent over that period of time. Had you
17:25
Speaker 1: saved that money, you'd have two hundred and forty thousand
17:29
Speaker 1: dollars in your savings account, and you go, that's pretty sexy,
17:32
Speaker 1: but g due to compounding interest. If you had put
17:36
Speaker 1: that into the share market at that seven point five
17:39
Speaker 1: percent return, you'd have one point two million dollars. So
17:42
Speaker 1: you're basically making a million dollars by riding out the
17:46
Speaker 1: investment journey for the long term, but also making use
17:50
Speaker 1: of those dividends that are being paid to you to
17:52
Speaker 1: reinvest them. So when I say, oh, it's the money
17:54
Speaker 1: that your money makes, like that sounds small when it's
17:57
Speaker 1: only a seven and a half percent return, because you go, well,
18:00
Speaker 1: seven and a half percent on one thousand dollars a va,
18:02
Speaker 1: that's not actually that much. But over time that obviously
18:05
Speaker 1: grows into something that is so much bigger than what
18:08
Speaker 1: a lot of us are able to comprehend. And I
18:11
Speaker 1: say that not because I'm like, oh my god, you
18:13
Speaker 1: don't get it. You totally get it, But as humans,
18:16
Speaker 1: we are actually wired to think in a linear way,
18:20
Speaker 1: so we go one plus one equals two, whereas compounding
18:25
Speaker 1: interest is not linear. It is one plus one equals
18:28
Speaker 1: three pretty much, and you kind of go, well, that
18:30
Speaker 1: doesn't make sense. No comprehendo, not going to happen. So
18:33
Speaker 1: I think we need to reframe the fact that a
18:36
Speaker 1: lot of us like, oh, I don't get it. I'm
18:37
Speaker 1: not smart to know investing is actually very hard for
18:41
Speaker 1: the human brain to comprehend because we are actually wired
18:45
Speaker 1: to just be very linear in the way that we think.
18:47
Speaker 1: So that's why I think a lot of people are
18:49
Speaker 1: overwhelmed by investing and overwhelmed by this conversation because it's
18:53
Speaker 1: just not something we can comprehend. There is nothing else
18:56
Speaker 1: in our life that works in the same way.
18:58
Speaker 3: Yeah, I mean, as someone who still hasn't invested, I
19:01
Speaker 3: think just remembering that exactly what you said there, if
19:04
Speaker 3: you saved five hundred dollars, was five hundred a month?
19:06
Speaker 1: Five hundred a month if you are twenty one all
19:09
Speaker 1: the way until retirement, Yeah.
19:10
Speaker 3: So would you rather two fifty k or one point
19:14
Speaker 3: two mil? Exactly? I know where I'd rather be.
19:16
Speaker 1: And the power of compounding interest over a long period
19:19
Speaker 1: of time is honestly insane. So we're talking about five
19:22
Speaker 1: hundred dollars a month, and if you're in the privileged
19:24
Speaker 1: position of being able to save that or invest that,
19:27
Speaker 1: that is fantastic. We are not saying everybody is. It
19:29
Speaker 1: is just an example. But if you then jump a
19:33
Speaker 1: couple of years in advance and go, all right, gee,
19:35
Speaker 1: you haven't invested, that's totally okay. There's no such thing
19:38
Speaker 1: as too late. But if you are forty and you
19:42
Speaker 1: want to achieve the same outcome of that one point
19:44
Speaker 1: two million dollar investment portfolio, you're going to have to
19:47
Speaker 1: cough up about four thousand dollars a month to achieve
19:50
Speaker 1: the same goal. That's insane. That's so much more money.
19:55
Speaker 1: And to comprehend that, because I think a lot of
19:57
Speaker 1: us are like, oh, well, I'll just invest when I
19:59
Speaker 1: have money. Like, I'm not in the position where I
20:02
Speaker 1: can compromise that at this point in my life. When
20:04
Speaker 1: I'm older, i'll be rich. I'll have four grand a
20:07
Speaker 1: month that I can put into anything. I'm sorry you
20:10
Speaker 1: won't because you'll have more financial commitments, you'll have lifestyle creep,
20:14
Speaker 1: unless you're Warren Buffett, because apparently he doesn't have any
20:17
Speaker 1: form of lifestyle creep. But also, you're far more likely
20:20
Speaker 1: to have financial responsibilities. You're far more likely to have
20:24
Speaker 1: a mortgage that needs paying off, You're far more likely
20:26
Speaker 1: to probably have car loans and stuff like that. And
20:28
Speaker 1: also children. And I'm not saying that everybody's going to
20:31
Speaker 1: have children and our journeys a cookie cutter, but I
20:34
Speaker 1: think it's very common for that demographic of people to
20:37
Speaker 1: have more financial commitments, and the amount of people I
20:39
Speaker 1: sit down with and go hey, to achieve this goal,
20:42
Speaker 1: we have to sacrifice significant amounts of money when you
20:46
Speaker 1: could have just done that with five hundred bucks a month.
20:48
Speaker 1: So even when you're forty, you're just investing that five
20:51
Speaker 1: hundred bucks a month, and hopefully in a perfect world
20:53
Speaker 1: you do have more disposable income so that five hundred
20:56
Speaker 1: dollars a month becomes you know, one thousand dollars a
20:58
Speaker 1: month or more, or you know, when you get birth
21:00
Speaker 1: or Christmas or you know, bonuses from your job that
21:02
Speaker 1: you're obviously going to be excelling at. You invest that,
21:06
Speaker 1: and that one point two million dollar portfolio could be
21:08
Speaker 1: more like four or five million dollars. Now we're token, yes, also,
21:12
Speaker 1: but to add to that, because I know you're going
21:13
Speaker 1: to try and like segue me into a break. Gee,
21:17
Speaker 1: let's talk about why it's important to have a one
21:19
Speaker 1: point two million dollar portfolio, because you go, great, I
21:21
Speaker 1: get to that point and I've got one point two
21:23
Speaker 1: million dollars invested. Thee do be spending it? No super yacht?
21:29
Speaker 1: Onebuff it doesn't have one. You can have a super
21:31
Speaker 1: yacht when he has he could have so many. I know,
21:33
Speaker 1: he could be like the king of super yachts. Yet
21:35
Speaker 1: he's choosing not to be. And that's real cool, is it?
21:38
Speaker 1: I like it?
21:39
Speaker 3: If I was warrant I'd tell you the things I'd
21:41
Speaker 3: be doing.
21:41
Speaker 1: Oh my gosh, what would you do? What would you do? First?
21:44
Speaker 3: I'd buy a superhot man, get to the Mediterranean.
21:47
Speaker 1: It's not happening. Also, I just feel like you're not
21:49
Speaker 1: a yacht girl.
21:51
Speaker 3: Well I don't think I've been on a yacht. I've
21:53
Speaker 3: just seen that below deck show.
21:54
Speaker 1: All right, No, no, no, that speaks to me. Yeah,
21:57
Speaker 1: all right, I think we should go on a super yacht.
21:58
Speaker 1: She's on the money tour around Australia, but on a yacht.
22:01
Speaker 3: Stop it.
22:02
Speaker 1: Let's hit up, let's show it up below deck and
22:04
Speaker 1: ask them if they'll let us on their boat. Perfect,
22:07
Speaker 1: But do you want meaning to answer the question?
22:09
Speaker 3: Yeah, I can't even remember. Okay.
22:10
Speaker 1: So the question, or the thing I was trying to
22:13
Speaker 1: get across here, is that when you have a one
22:16
Speaker 1: point two million dollar portfolio, we don't just start spending
22:19
Speaker 1: that because hopefully we have dividend yielding stogs that are
22:23
Speaker 1: paying us to own that, and a seven point five
22:26
Speaker 1: percent return gee on a one point two million dollar
22:29
Speaker 1: portfolio is about sixty thousand dollars a year. So what
22:32
Speaker 1: you then have is an asset that is paying you
22:35
Speaker 1: sixty grand a year just to exist. You don't have
22:38
Speaker 1: to go to work, you don't have to sign time sheets,
22:40
Speaker 1: you don't have to do anything except for what your
22:42
Speaker 1: bank account grow. And I think that's really cool. But
22:45
Speaker 1: it's also really important to set realistic goals in retirement.
22:48
Speaker 1: So if you're like, oh, V like sixty grand's not
22:51
Speaker 1: going to be enough, Okay, cool, Maybe you need more
22:52
Speaker 1: than five hundred dollars a month, but it's all about
22:56
Speaker 1: making sure that you know what that contribution is and
22:58
Speaker 1: how that works, and then working backwards to achieve bloody brilliant.
23:01
Speaker 3: I reckon, we'll leave it there, and I knew you
23:03
Speaker 3: were going to take us to a break. On the
23:05
Speaker 3: other side, we will be chatting through a little comparison
23:07
Speaker 3: of the two and what gets you up, So we'll
23:10
Speaker 3: see you on the other side. Straight back into it.
23:13
Speaker 1: VD.
23:13
Speaker 3: Now we've gotten the lowdown on both growth and dividend investing.
23:18
Speaker 3: I just forgot there a little bit.
23:20
Speaker 1: Can you actually here recap it? What's a growth share?
23:22
Speaker 1: What's a dividends share?
23:24
Speaker 3: A growth share is one that you hold on to
23:28
Speaker 3: for the long hold, which let's be real, guys, let's
23:31
Speaker 3: remember what Warren said you should be doing with most
23:33
Speaker 3: of your shares. Yes with me, So that is growth,
23:36
Speaker 3: and the idea there is that you get your growth
23:41
Speaker 3: from the end when you sell it. That's how it works.
23:44
Speaker 1: But I might also turn into a dividend chair correct, sexy.
23:47
Speaker 3: Because that's what happens when the company makes enough money
23:51
Speaker 3: to be able to pay its people. I love that, Yes,
23:55
Speaker 3: and then dividends. Sure, they might not make you really rich,
24:00
Speaker 3: but also maybe they will.
24:01
Speaker 1: Because I will counting interest you king on tua.
24:05
Speaker 3: They will, but they'll also pay you along the way.
24:07
Speaker 3: So I feel like they're both good.
24:09
Speaker 1: They're both very good options, and like one is not
24:11
Speaker 1: necessarily better than the other, and they wouldn't want you
24:13
Speaker 1: guys thinking that I'm in one column and not the other.
24:17
Speaker 1: I think it's really important for you to understand why
24:19
Speaker 1: you'd hold the different ones. But also recently I've seen
24:22
Speaker 1: a bit of confusion because people are like, when do
24:24
Speaker 1: I get paid my dividends? And I'm like, well, what
24:26
Speaker 1: do you hold? And they're like, I bought all of
24:28
Speaker 1: these shares of X company. I'm like, babe, they don't
24:31
Speaker 1: pay your dividend. There isn't one coming. I'm sorry. So,
24:34
Speaker 1: as someone who really wants to talk about investing deeply
24:36
Speaker 1: with you, Like, I really think you deserve to know
24:39
Speaker 1: that before you get into it, because there's so much
24:41
Speaker 1: research to be done. But at the same time, these
24:44
Speaker 1: are really easy points that you can learn along the way.
24:47
Speaker 3: So return wise, though, what's the difference, what looks better
24:51
Speaker 3: or does it really just depend on the.
24:53
Speaker 1: It really depends on the individual. And to be honest,
24:55
Speaker 1: I wouldn't ever, ever, ever recommend putting all your eggs
24:58
Speaker 1: in one basket and just go, oh, well, I'm just
25:00
Speaker 1: going to go buy NAB shares because Victoria mentioned a
25:03
Speaker 1: NAB share one time, which is not a recommendation to
25:06
Speaker 1: urchase on the podcast, Like, you wouldn't have any level
25:09
Speaker 1: of diversification, like if you are going to buy individual shares,
25:13
Speaker 1: which from my perspective, is a very risky way of
25:17
Speaker 1: starting your investment journey because how are you diversified? How
25:20
Speaker 1: are you educated enough to be making these big share
25:23
Speaker 1: decisions that are usually reserved for fund managers. I would
25:27
Speaker 1: be looking for something that really helps you get a
25:29
Speaker 1: whole heap of diversification in the first place.
25:33
Speaker 3: Okay, so if we do want to invest, then is
25:36
Speaker 3: the best way to be as diverse as we can
25:39
Speaker 3: incorporate some growth shares and some dividend shares. Is that
25:42
Speaker 3: the way to do it.
25:44
Speaker 1: Yes, absolutely, but also completely aligned to your values. Like
25:48
Speaker 1: I have a number of incredibly conservative clients who are
25:52
Speaker 1: only dividend shares. They will only buy tried, true, tested,
25:57
Speaker 1: blue collar shares. They don't want ETFs, they don't want
25:59
Speaker 1: any So I manage a direct portfolio of probably ten
26:03
Speaker 1: to twelve shares on average that can fluctuate depending on
26:07
Speaker 1: whether I've made the decision to sell down some of
26:09
Speaker 1: their stock or buy something new to introduce it to
26:12
Speaker 1: the portfolio. But they just want to hold direct shares,
26:15
Speaker 1: and I totally get that. But the reason they want
26:17
Speaker 1: that is they want to hold the West Farmers, the BHP,
26:19
Speaker 1: they want some of the big banks. They want to
26:21
Speaker 1: hold Woolies, they want to hold coals. Like they are
26:24
Speaker 1: just buying very tried and true blue chip stocks, and
26:27
Speaker 1: that is okay, that is absolutely fair. But the reason
26:30
Speaker 1: they are doing that is because they're getting closer to
26:33
Speaker 1: retirement and they are prioritizing income. But also they're just
26:37
Speaker 1: a bit more conservative. Like at the end of the day,
26:39
Speaker 1: at blue ship stock is not a growth stock. It
26:42
Speaker 1: is not something that is going to skyrocket into being
26:45
Speaker 1: the most successful share of the year, because at the
26:47
Speaker 1: same time, as you know, after Pay increasing so significantly
26:51
Speaker 1: in share price, a whole heap of other shares that
26:54
Speaker 1: people bought at the same time as after Pay because
26:56
Speaker 1: they saw the same value in them and they saw
26:58
Speaker 1: the same potential plummeted. So I think it's important to
27:02
Speaker 1: realize that investing is a journey, and that's why we
27:05
Speaker 1: want to invest in a diversified portfolio, because if I
27:08
Speaker 1: have to pay is returning, you know, sixty percent, and
27:11
Speaker 1: then another share that you've bought actually completely plummeted, you're
27:15
Speaker 1: going to end up with a pretty good average instead
27:17
Speaker 1: of only being exposed to one of those percentages.
27:21
Speaker 3: Okay, that makes sense. Obviously the market has been really
27:25
Speaker 3: volatile of late. Would you say it, based on what
27:28
Speaker 3: you just said, that this would affect gross investments more
27:31
Speaker 3: than dividend because dividends may be a little safer.
27:34
Speaker 1: Yes and no. So it really depends because obviously, if
27:38
Speaker 1: a dividend share is decreasing in price and it's experiencing
27:42
Speaker 1: the same volatility, they might not end up having the
27:44
Speaker 1: same profits that they had the year before. So when
27:47
Speaker 1: you look at the market as a whole, there's usually
27:49
Speaker 1: some kind of trigger or reason why that volatility exists.
27:53
Speaker 1: And volatility is essentially just how much the share price
27:56
Speaker 1: increases and decreases over time. We know it goes up
27:58
Speaker 1: and down. When a Panini happens, Georgia King and we
28:04
Speaker 1: all are thrown into a bit of a storm that
28:06
Speaker 1: we're not sure how to navigate. Most companies, on average
28:09
Speaker 1: don't make as much profit as they were the year before,
28:12
Speaker 1: so your dividend might be decreased. However, I was having
28:16
Speaker 1: this really interesting conversation with someone the other day and
28:18
Speaker 1: they're like, oh my god, my shares have decreased significantly,
28:21
Speaker 1: and I was said, yeah, but you're still going to
28:22
Speaker 1: get paid really good dividends because they had really good
28:24
Speaker 1: profits that year. So even if your share price decreases,
28:28
Speaker 1: you still own the same amount of shares. So if
28:31
Speaker 1: you bought ten shares in a bank and you bought
28:34
Speaker 1: them for ten dollars a share, you've got one hundred
28:36
Speaker 1: dollars as your investment portfolio, and maybe those shares they
28:40
Speaker 1: pay you a ten cent dividend each and every single year,
28:42
Speaker 1: and that's really exciting. But if those shares decrease in
28:47
Speaker 1: value gene now they're worth fifty cents each in your portfolio.
28:50
Speaker 1: Oh my gosh, when you log into your platform and
28:52
Speaker 1: have a look at it, you only have fifty bucks
28:54
Speaker 1: worth of shares. You're actually still being paid the same
28:57
Speaker 1: amount of dividends because you still have the same amount
28:59
Speaker 1: of shares, So it's not as significant. Whereas if you're
29:02
Speaker 1: buying a growth stock and then your portfolio has significantly
29:06
Speaker 1: decreased in value over time, what else are you getting
29:09
Speaker 1: out of this? Like no one's paying you any of
29:11
Speaker 1: the profits, Like are they going to increase so that
29:13
Speaker 1: you can make profit? Or has it gone below what
29:16
Speaker 1: you originally purchased it for? But again, they make up
29:19
Speaker 1: a really good part of a well diversified portfolio. Both
29:22
Speaker 1: of them slightly off topic. But if you did have
29:26
Speaker 1: a gross investment and it did fall below what you
29:28
Speaker 1: paid for it, I feel like usually would be like
29:31
Speaker 1: hold on right out that wave, Yes, of course, but
29:33
Speaker 1: how do you know if you should or not? Like
29:36
Speaker 1: that's the general advice. But what if it's just a
29:38
Speaker 1: dodgy share and it's going downhill? Like, how do you
29:41
Speaker 1: know that? As just a regular research and that's why
29:44
Speaker 1: we're not punters in the share market. Georgia King. This
29:47
Speaker 1: isn't a gamble. This is something that you would make
29:50
Speaker 1: a very well and very educated decision on, and if
29:54
Speaker 1: a share is going down, I don't want anybody to
29:57
Speaker 1: ever be superactive. That's what created a lot of loss
30:00
Speaker 1: during the GFC. So we're not saying that that's the
30:02
Speaker 1: reason the GFC existed. But during the Global Financial Crisis,
30:06
Speaker 1: a lot of people lost a lot of money because
30:09
Speaker 1: they saw their share portfolios absolutely plummet, and they freaked
30:13
Speaker 1: out and they were like, oh my gosh, I've got
30:14
Speaker 1: to get my money out while it's still there. But
30:17
Speaker 1: what they didn't think about was like, oh, I bought
30:19
Speaker 1: those ten bank shares. I still own ten bank shares.
30:22
Speaker 1: They're just valued at less today, and the value is
30:25
Speaker 1: how much you would get if you sold them today.
30:28
Speaker 1: So today you might only get fifty bucks. But if
30:30
Speaker 1: we ride that wave out over time, we know on
30:33
Speaker 1: average money should double every ten years. If it's not
30:36
Speaker 1: a quote terrible stock and it's just the market being reactive,
30:40
Speaker 1: then we should ride it out. But there is a
30:42
Speaker 1: lot of research to be done into a share that
30:44
Speaker 1: you go, oh, this hasn't been performing well for a while.
30:47
Speaker 1: I'd be using some research from different investment houses and
30:50
Speaker 1: having a look at potentially what we could do instead.
30:54
Speaker 1: And sometimes you just have to bite the bullet and
30:56
Speaker 1: go do what. This wasn't a good investment, I'm going
30:59
Speaker 1: to sell this particular asset. So I might sell, you know,
31:02
Speaker 1: this particular brand that I have bought and buy something
31:05
Speaker 1: else to replace it in my portfolio. But if you
31:09
Speaker 1: are being a good, well diversified investor, that's not your
31:13
Speaker 1: entire wealth, that's not going to matter in the grand
31:16
Speaker 1: scheme of things. You'll sell it down and be like, oh,
31:17
Speaker 1: that was pretty terrible. They didn't have a good return.
31:20
Speaker 1: But luckily all the other shares that I've got they
31:22
Speaker 1: do have a good return, and I'm going to buy
31:24
Speaker 1: something else. Over time is going to benefit me. And
31:26
Speaker 1: that's why I'm so passionate about diversifying your investments and
31:30
Speaker 1: not just going, yeah, they I own three different shares.
31:32
Speaker 1: I'll be like, babe, that's not enough. Yeah, Like that
31:35
Speaker 1: exposes you to if that company does really badly, like
31:39
Speaker 1: you're going to feel that you're kind of putting a
31:41
Speaker 1: buffer between yourself and the share market by having a
31:45
Speaker 1: number of stocks. It's kind of like spreading it out
31:47
Speaker 1: so they fall softly instead of all in a big lump.
31:50
Speaker 3: Do you ever think about how blessed you are to
31:52
Speaker 3: be you and just have all of this knowledge in
31:55
Speaker 3: your brain? Obviously you worked really hard to like learn
31:57
Speaker 3: to get bullied a lot at school. Yeah, but like
32:03
Speaker 3: I can imagine everybody is cool now because I've put
32:05
Speaker 3: a peachy brand on it. But like I just wish
32:09
Speaker 3: I knew what I was doing as much as you did.
32:11
Speaker 1: Like maybe if you listened to our podcast recording.
32:13
Speaker 3: So now, sometimes let's round out this chat V by
32:18
Speaker 3: quickly chatting about tax difference in I loved how how
32:22
Speaker 3: they work with each.
32:23
Speaker 1: A lot of people get really frustrated. They're like, oh
32:25
Speaker 1: my god, I'm not going to win best because I'll
32:27
Speaker 1: have to pay tax. Get girl, if you're paying tax,
32:30
Speaker 1: do you know what that means? You made money? And
32:32
Speaker 1: I think that we need to reframe how we view tax. Like, yes, absolutely,
32:37
Speaker 1: you need to consider tax and what that means for
32:39
Speaker 1: you and how that works. And as I said before,
32:41
Speaker 1: there are different rules and regulations on you know, the
32:45
Speaker 1: tax rates for different holding periods, i e. If you
32:48
Speaker 1: hold a share for less than twelve months and then
32:51
Speaker 1: sell it and you've made a good profit. You're gonna
32:53
Speaker 1: have to pay more tax on it then if you
32:54
Speaker 1: held it for more than a year, so I think
32:56
Speaker 1: it's important to understand that. But then also, you're going
32:59
Speaker 1: to be taxed at your marginal tax rate if you
33:02
Speaker 1: hold those shares individually in your own name, So ge
33:05
Speaker 1: whatever tax you're paying now, that's the amount of tax
33:08
Speaker 1: you'll pay on the profits of your share portfolio, which
33:11
Speaker 1: is very exciting. But the other thing that I think
33:14
Speaker 1: is really sexy when it comes to tax, and I'm
33:16
Speaker 1: not an accountant, so that's why I'm not giving you
33:18
Speaker 1: specific advice on what to do and what not to do.
33:21
Speaker 1: Only you can work that out. But the other sexy
33:24
Speaker 1: thing g franking credits, h our old friends, our old friends,
33:28
Speaker 1: franking credits and so essentially franking credits are sexy. And
33:33
Speaker 1: a lot of you already have shares in your superanuation
33:36
Speaker 1: funds that are franked, and that's very exciting. But the
33:39
Speaker 1: benefit of frank shares is essentially when a dividing gets
33:42
Speaker 1: paid out of the profits that have already been subjected
33:45
Speaker 1: to tax, right, so that business has already paid their
33:48
Speaker 1: thirty percent tax rate. You get a little credit. It's
33:51
Speaker 1: like a little sticky note that comes on top of
33:53
Speaker 1: the share. So when the tax offer see it, they go,
33:56
Speaker 1: oh my gosh, this share that she's made some money
33:58
Speaker 1: on has a little sticky note on it. And that's
34:00
Speaker 1: a franking credit. And that means that shareholders can actually
34:04
Speaker 1: get a rebate for the tax that was paid by
34:06
Speaker 1: the company on the profits that were distributed as dividends.
34:10
Speaker 1: That was a mouthful, it was. It was pretty impressive though.
34:13
Speaker 1: Thanks thanks for coming to my ted talk.
34:15
Speaker 3: Loved it.
34:16
Speaker 1: But essentially that means that you kind of get a refund.
34:19
Speaker 1: So you're paying less tax because the company's already paid
34:23
Speaker 1: thirty percent of it. So that's a bit of a
34:24
Speaker 1: money win. And you're entitled to receive a credit for
34:28
Speaker 1: any tax the company's paid for you, which I really
34:31
Speaker 1: really like. And if your top tax rate is less
34:34
Speaker 1: than the company's tax rate, which a lot of us
34:36
Speaker 1: would be, so a lot of you won't be paying
34:39
Speaker 1: more than thirty percent in tax, you actually get a
34:42
Speaker 1: refund from the ATO. That's really nice and that's more
34:45
Speaker 1: money in your back pocket and the benefit of that
34:48
Speaker 1: and the reason why I'm talking about this is not
34:50
Speaker 1: because it's super sexy in the individual shares you're buying,
34:53
Speaker 1: but because it's super sexy in your superannuation portfolio. And
34:56
Speaker 1: guin why I say that, Because the tax rate in
34:59
Speaker 1: your super portfolio is fifteen percent?
35:02
Speaker 3: That's right?
35:03
Speaker 1: And gee, how much tax? Did we just say that
35:05
Speaker 1: the company paid thirty So what's thirty minus fifteen? It's half,
35:10
Speaker 1: So you get fifteen percent back, which makes those shares
35:14
Speaker 1: even if your dividend was absolutely tiny, that's automatically a
35:18
Speaker 1: return of fifteen percent money week. Okay, that's very sexy.
35:23
Speaker 1: But yes, there are always going to be tax questions
35:25
Speaker 1: that we need to address, but I think the most
35:27
Speaker 1: important thing here is just to be aware of them
35:29
Speaker 1: and not be evasive of them. Because if you're paying tax,
35:31
Speaker 1: my friend, it means that you're making money, and that's
35:33
Speaker 1: exactly what we plan to do with investing.
35:36
Speaker 3: Yeah. I think that is probably the perfect place to
35:38
Speaker 3: leave it today.
35:39
Speaker 1: V Well, thank you for coming to my TED Talk
35:41
Speaker 1: slash deep dive into dividend and growth shares. I'm very
35:45
Speaker 1: excited that you're now allowing me to do this on
35:47
Speaker 1: the podcast. But I hope this was fun and I
35:49
Speaker 1: guess we'll see you next week. Do you want to
35:51
Speaker 1: tell them that I'm an authorized Yes?
35:53
Speaker 3: Do?
35:53
Speaker 1: That'd be good?
35:54
Speaker 4: Alrighty.
35:54
Speaker 3: The advice shared on es on the Money is general
35:57
Speaker 3: in nature and does not consider your individual circuit steps. Yes,
36:01
Speaker 3: She's on the Money exists purely for educational purposes and
36:04
Speaker 3: should not be relied upon to make an investment or
36:07
Speaker 3: a financial decision. And remember, guys that Victoria Devine is
36:10
Speaker 3: an authorized representative of Infocused Securities Australia Propriety Limited ABN
36:16
Speaker 3: four seven zero nine seven seven nine seven zero four
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36:22
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36:45
Speaker 4: Bye bye. Did to