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Why Playing It Safe with Money Can Be Risky · A Little Bit Richer

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  Automated: This series is brought to you by L& G, helping
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  Automated: you build a future that's a little bit richer.
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  Iona Bain: Hello, I'm Iona Bain, and welcome back to A Little
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  Iona Bain: Bit Richer, the podcast helping you feel more confident about
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  Iona Bain: your money, one conversation at a time, brought to you by
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  Iona Bain: Legal and General. Today, we're kicking off a two- part
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  Iona Bain: series all about investing. And if your immediate reaction to
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  Iona Bain: that is, well, sounds a bit overwhelming, sounds a bit
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  Iona Bain: risky, probably not one for me, you're very much not
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  Iona Bain: alone. So, whether you are already investing and wondering if
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  Iona Bain: you're getting things right or you just want to learn
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  Iona Bain: more about this sometimes quite daunting area, in this first
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  Iona Bain: episode, don't worry, we're not going to be diving straight
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  Iona Bain: into funds or portfolios. Instead, we're going to be talking
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  Iona Bain: about why investing can help your financial future, why we
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  Iona Bain: need to learn about emotions, and how we can keep
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  Iona Bain: a cool head and make informed decisions. And joining me
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  Iona Bain: to discuss all this is friend of the show, Emilie
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  Iona Bain: Bellet. Emilie is a former private equity analyst turned entrepreneur,
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  Iona Bain: author, and speaker. Emilie founded the financial education platform, Vestpod,
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  Iona Bain: and hosts the podcast, The Wallet. So, she is just
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  Iona Bain: the person we need to talk to today, to help
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  Iona Bain: investing feel a little more accessible. Welcome, Emilie.
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  Emilie Bellet: Thank you.
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  Iona Bain: Can you explain in 30 seconds or less what is
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  Iona Bain: investing and why it's so important? I'm going to put
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  Iona Bain: my timer on. Okay, go.
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  Emilie Bellet: With investing, you want to make your money work for
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  Emilie Bellet: you, and this is going to help you to achieve
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  Emilie Bellet: your long- term goals. That's different from saving money, where
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  Emilie Bellet: you put money into a safe place that you can
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  Emilie Bellet: access anytime that's really good for your emergency savings and short-
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  Emilie Bellet: term goals. With investing, you're going to put money into
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  Emilie Bellet: things called assets like shares, bonds, property, with the goal
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  Emilie Bellet: to grow your money over time.
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  Iona Bain: Brilliant. I think you had about five seconds to spare
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  Iona Bain: there. That is excellent work. So, that's a really good summary
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  Iona Bain: of what investing is and why it's important. But a
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  Iona Bain: lot of people watching and listening might be feeling quite
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  Iona Bain: nervous about the prospect of investing, particularly when they look
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  Iona Bain: at what's going on in the world. We've got geopolitical
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  Iona Bain: turmoil and uncertain economic outlook, frankly, lots of pressing headlines.
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  Iona Bain: And they might be wondering, why should I take risks
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  Iona Bain: with my money right now? Surely, it's better to just
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  Iona Bain: play safe.
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  Emilie Bellet: Yeah. So, I really understand why people feel a little
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  Emilie Bellet: bit uncertain about the stock market. But here, I think
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  Emilie Bellet: we have to differentiate between uncertainty and risk. So when
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  Emilie Bellet: you're investing money, and here we're talking about investing, achieving
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  Emilie Bellet: your long- term goals, you want to know the level
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  Emilie Bellet: of risk you're taking. Now there's the uncertainty on the
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  Emilie Bellet: market, no one can predict what's going to happen in
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  Emilie Bellet: the stock market. We see big draw- downs in the
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  Emilie Bellet: stock market where the market goes up and down at
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  Emilie Bellet: different points in time. So, what you want to have
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  Emilie Bellet: is time for your money in case something happens in
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  Emilie Bellet: the stock market and for your investments to recover. So,
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  Emilie Bellet: I think that's the difference. There's not a perfect time
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  Emilie Bellet: to invest. Maybe it was yesterday or today, but I
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  Emilie Bellet: would say, don't just wait and get triggered by everything
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  Emilie Bellet: that's going to happen. There's always going to be news
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  Emilie Bellet: on the market, but just getting started on a very
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  Emilie Bellet: small scale and try to be in the market, rather
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  Emilie Bellet: than timing and finding the best time to invest is
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  Emilie Bellet: actually going to be quite helpful with your investments. And
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  Emilie Bellet: it's not about putting all your savings into investing or
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  Emilie Bellet: into an investment pot today, but slowly, a step- by-
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  Emilie Bellet: step, building up a pot over time.
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  Iona Bain: And years ago I heard of this phrase, " Reckless conservatism,"
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  Iona Bain: which really resonated with me because it indicates that actually,
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  Iona Bain: if you are too safe with your money at times,
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  Iona Bain: that that in and of itself can be a bit
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  Iona Bain: reckless and irresponsible. That can be quite a difficult concept
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  Iona Bain: for people to get their heads around, can't it?
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  Emilie Bellet: I think it's quite tricky to understand that having all
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  Emilie Bellet: your money in cash, so in something really safe, is
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  Emilie Bellet: actually risky because you think, oh, all my money's in
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  Emilie Bellet: my bank, I'm getting an interest rate or small saving
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  Emilie Bellet: rates. But actually, what we have to look for when
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  Emilie Bellet: we invest is that there's inflation in the economy, and
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  Emilie Bellet: also, you want your money to grow faster. So this
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  Emilie Bellet: is why with your investments, you want to try to
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  Emilie Bellet: beat inflation or at least keep up. The economy is
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  Emilie Bellet: growing and you want your money to grow over time.
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  Emilie Bellet: So when you're thinking short term, it doesn't matter so
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  Emilie Bellet: much over a period of one to five years, but
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  Emilie Bellet: when you see longer picture, you lose purchasing power over
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  Emilie Bellet: time. So, keeping everything in cash is not always the solution.
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  Iona Bain: Yeah, it's a really good point. Now, many people who
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  Iona Bain: are watching and listening to this might be thinking, I'm
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  Iona Bain: not an investor. Why is that not necessarily true?
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  Emilie Bellet: So, this is what I hear very often, " I'm not
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  Emilie Bellet: an investor, this is very scary. I don't know where
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  Emilie Bellet: to start." And I think your first touch point is
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  Emilie Bellet: maybe your pension. I mean, if you have a workplace
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  Emilie Bellet: pension, most people will be actually invested in the stock
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  Emilie Bellet: market. So your money every month, you are saving money,
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  Emilie Bellet: your employer is putting money into your pension. This is
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  Emilie Bellet: tax efficient also, which is amazing. And the money will
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  Emilie Bellet: go into usually a selection of funds, so you will
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  Emilie Bellet: be exposed to a lot of companies in a lot
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  Emilie Bellet: of different markets and industries. So, your money is invested.
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  Emilie Bellet: So I feel that's already a win, you are an investor, and
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  Emilie Bellet: then that's maybe your starting point when you want to
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  Emilie Bellet: look at your investments.
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  Iona Bain: And so, if people maybe don't necessarily rush out and
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  Iona Bain: start investing after today, perhaps they can already start to
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  Iona Bain: understand this whole area just by engaging with their pension
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  Iona Bain: a bit more.
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  Emilie Bellet: So, this is a really good starting point. First of
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  Emilie Bellet: all, find your login details for your pension. I mean,
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  Emilie Bellet: if you don't necessarily check very often your pension, you
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  Emilie Bellet: don't know where it is, who's the provider. So, find
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  Emilie Bellet: your statements, go online, call your provider, try to log
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  Emilie Bellet: in into your pension. And then what you can do
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  Emilie Bellet: is review your contribution. How much money are you putting
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  Emilie Bellet: into your pension every month? Is your employer contributing to
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  Emilie Bellet: your pension and how much? Can you actually change this
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  Emilie Bellet: contribution? Can you increase them if you have the saving
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  Emilie Bellet: and investing capacity? And then it's looking at, how is
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  Emilie Bellet: my money actually invested? And you'll be surprised to see
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  Emilie Bellet: a series of funds. So, that's quite interesting to look
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  Emilie Bellet: at how it invested. You'll see the allocation, stocks and
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  Emilie Bellet: bonds and cash, and also maybe the type of funds
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  Emilie Bellet: and the level of risk. So usually, you will see
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  Emilie Bellet: three level of risk, A, B, C. So you will
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  Emilie Bellet: be adventurous, balanced, or cautious. And it's just making sure
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  Emilie Bellet: you are in the right level of risk for your
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  Emilie Bellet: age and the time horizon. If you're in your 20s, it's very
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  Emilie Bellet: different than if you're in your 50s, for example, when
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  Emilie Bellet: you look at investing for retirement.
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  Iona Bain: Yeah, it's really important to know what is appropriate for
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  Iona Bain: your stage in life because if you're younger, you can
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  Iona Bain: maybe take more risk, if you're older, maybe you play it a bit
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  Iona Bain: more safe. So Emilie, this is a bit of a
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  Iona Bain: tough question, but I have a feeling that you're going
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  Iona Bain: to be up for answering it. What's one mistake that
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  Iona Bain: you wish that you hadn't made but that you've learned
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  Iona Bain: from when it comes to investing?
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  Emilie Bellet: Oh, there's a lot of mistakes I've made, but I
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  Emilie Bellet: think one is around picking individual stocks. So when we
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  Emilie Bellet: talk about investing, we don't want to buy one thing
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  Emilie Bellet: and just hope for the best. So, we want to
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  Emilie Bellet: diversify our money into a lot of different asset classes.
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  Emilie Bellet: We want to be invested in the market, and the
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  Emilie Bellet: market is just like a collection of tens of thousands
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  Emilie Bellet: of companies. Now when I started investing, I built a
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  Emilie Bellet: very small portfolio of a handful of individual stocks, but
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  Emilie Bellet: then they were all in the same industry because I
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  Emilie Bellet: had more knowledge in this industry, probably all in the
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  Emilie Bellet: same geography. And also, only having five stocks is quite
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  Emilie Bellet: problematic. So, one of these companies starting to have operational
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  Emilie Bellet: issues that impacted its profits. Investors started to look at
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  Emilie Bellet: this company and started to lose confidence. I panicked, I
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  Emilie Bellet: sold my investments. Of course, the stock recovered a few
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  Emilie Bellet: months or a few years later, but I had a
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  Emilie Bellet: loss in my portfolio. And that one stock, I would
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  Emilie Bellet: have five, that's like 20%. So, that's a big mistake
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  Emilie Bellet: and that's why now I'm not going to look at
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  Emilie Bellet: single stocks, only if it's a very small part of my
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  Emilie Bellet: portfolio, but try to diversify via funds that will have
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  Emilie Bellet: hundreds or thousands of holdings. And the other one is
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  Emilie Bellet: checking your stocks on your phone and overreacting, I think.
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  Iona Bain: Yeah, I've been there.
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  Emilie Bellet: Oh, you have been?
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  Iona Bain: Yeah.
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  Emilie Bellet: And I think the two emotions that investors are triggered in
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  Emilie Bellet: the stock market is around fear and greed. My greed
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  Emilie Bellet: was to wait for the stock price to go higher
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  Emilie Bellet: and higher and higher and sell at the right time.
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  Emilie Bellet: When is the right time? And also fear, the fear
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  Emilie Bellet: of losing more money, and that's when I sold. So
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  Emilie Bellet: when you go into investing, it's really having a clear
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  Emilie Bellet: mind, being a bit more of a passive investor, so
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  Emilie Bellet: not overreacting to market fluctuations, and you can do that
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  Emilie Bellet: when you have a plan. So you know what you
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  Emilie Bellet: want your investments to achieve, for how long you're investing,
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  Emilie Bellet: what are your goals behind it? And having this on
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  Emilie Bellet: a piece of paper, it doesn't need to be complicated.
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  Emilie Bellet: At least you know what you're doing with your investments.
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  Iona Bain: Yeah, it's really hard though, isn't it? When you see
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  Iona Bain: your portfolio on your phone and if it has been
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  Iona Bain: going up, it gives you a dopamine buzz and then
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  Iona Bain: you become addicted to checking it. And even when it
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  Iona Bain: starts to go down, you just can't take your eyes
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  Iona Bain: off it. So, it's one of these areas of finance
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  Iona Bain: where actually, paying a little bit less attention is probably
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  Iona Bain: a good thing.
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  Emilie Bellet: It's a good thing, and I think investing should be
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  Emilie Bellet: boring. When investing starts to be a little bit exciting,
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  Emilie Bellet: that should probably be a red flag. You should ask
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  Emilie Bellet: yourself, is it actually too good to be true? And
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  Emilie Bellet: if it is, it's probably that you shouldn't invest or you should
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  Emilie Bellet: do more research.
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  Iona Bain: Yeah, very good point. Emotions as you were saying there,
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  Iona Bain: they really, really do drive a lot of investing decisions.
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  Iona Bain: And I think all of us like to think we're
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  Iona Bain: rational, cool as a cucumber. Can you just talk me
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  Iona Bain: through how we can keep calm when markets feel like
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  Iona Bain: they're going a bit crazy?
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  Emilie Bellet: So for me, it's about having this plan, first of
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  Emilie Bellet: all, being financially organized. So you have a budget and
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  Emilie Bellet: you know how much money you're putting into your investments
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  Emilie Bellet: every month. It's better to automate your investments so you
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  Emilie Bellet: are not deciding every month, oh, how much money should
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  Emilie Bellet: I invest this month? How much money should I save?
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  Emilie Bellet: And if you invest money, what funds do I buy this
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  Emilie Bellet: month? So I automate my investment, which means that every
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  Emilie Bellet: day on payday, a little bit of my pay is
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  Emilie Bellet: going into an investment portfolio. So, that removes any decisions
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  Emilie Bellet: for me to pick and choose whatever I want to
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  Emilie Bellet: buy. Now, there's times in a year where you can
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  Emilie Bellet: review, sit down, and look at your investments and check
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  Emilie Bellet: that your contributions are invested properly. So making sure you
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  Emilie Bellet: take a step back, I think it's fine to switch
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  Emilie Bellet: off financial and investing news sometimes. So if there's some
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  Emilie Bellet: areas that you're interested in, maybe take the time to
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  Emilie Bellet: research these areas instead of reacting to market fluctuations. So
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  Emilie Bellet: I would say have a plan, maybe don't check, automate
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  Emilie Bellet: some of your investments, and know when there's information overload.
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  Emilie Bellet: If you've been on some social media, it can be
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  Emilie Bellet: quite, quite triggering and you feel you're missing out, and
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  Emilie Bellet: that's a pretty bad emotion. The former where you're like,
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  Emilie Bellet: something is happening, everyone knows what we invest in, and
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  Emilie Bellet: I'm just sitting there doing nothing. So when you're feeling
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  Emilie Bellet: this, it's probably time to just switch off, go for a
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  Emilie Bellet: walk, switch off your investment app.
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  Iona Bain: So you;re a massive advocate, Emilie, for getting more women
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  Iona Bain: into investing, helping women understand that investing is very much for
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  Iona Bain: them, it's not just for the blokes. But there are
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  Iona Bain: myths and concerns that surround the whole area of women
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  Iona Bain: in investing. So, what would you say to challenge some
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  Iona Bain: of those myths and concerns?
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  Emilie Bellet: So what I hear very often in classes and boot
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  Emilie Bellet: camps is around, " I don't have a lot of money
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  Emilie Bellet: to start investing. I don't know enough. I need to
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  Emilie Bellet: be an expert. It's also too late."
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  Iona Bain: And what age typically do women say that to you?
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  Emilie Bellet: When you look at women, we may not have a
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  Emilie Bellet: linear career path. We know that women are still the
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  Emilie Bellet: primary carers for their families, for communities, for their children.
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  Emilie Bellet: So they may step out of work or earn less
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  Emilie Bellet: for a certain period of time, so usually 30s and 40s. So
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  Emilie Bellet: if it's less money invested, maybe they don't have the
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  Emilie Bellet: capacity to invest or maybe they're investing less. And because
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  Emilie Bellet: we know that investing compounds, the money that you haven't
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  Emilie Bellet: invested early on in your life then will not compound over
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  Emilie Bellet: a longer period of time.
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  Iona Bain: Yeah, so then women have this sense that they've missed out.
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  Emilie Bellet: And they've missed out on retirement, and sometimes they want
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  Emilie Bellet: to start and open a pension and they look at
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  Emilie Bellet: maybe a retirement calculator and they realize, oh wow, I
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  Emilie Bellet: will need to top up my pension, I need so
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  Emilie Bellet: much money now. So it's a little bit of, I'm
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  Emilie Bellet: not going to do it, I procrastinate, or I do it
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  Emilie Bellet: later. So what I say is, it's never too late
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  Emilie Bellet: to start and also, it's never too small. So you
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  Emilie Bellet: can start literally with, I mean, some platforms today even
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  Emilie Bellet: allow you to invest your spare change or even with
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  Emilie Bellet: 25 pound, 50 pound a month, you can start building
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  Emilie Bellet: a pot, especially a pension. We are usually quite good
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  Emilie Bellet: at thinking about short term goals, your next holiday or
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  Emilie Bellet: what you want to achieve next year, but what we
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  Emilie Bellet: need is a little bit more of a plan. It's
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  Emilie Bellet: very important that they look at their life goals and
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  Emilie Bellet: match them with their financial goals. What do I want
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  Emilie Bellet: to achieve in the short term? But at the same
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  Emilie Bellet: time, how do I pay myself for when I retire?
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  Emilie Bellet: Once people start even putting a little bit of money
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  Emilie Bellet: in the stock market is quite reassuring, they understand they
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  Emilie Bellet: can do it, and then they can work on their long-
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  Emilie Bellet: term goals. So I think we need to change also
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  Emilie Bellet: the mindset around investing. I think anyone can invest after
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  Emilie Bellet: having some savings of course, and repaid some of your
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  Emilie Bellet: expensive debts, but it's just about getting started. And I
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  Emilie Bellet: think now there's a lot of structural issues, gender pay
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  Emilie Bellet: gap, women earning less, taking career breaks, so that's going
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  Emilie Bellet: to have an impact on their pension and how much
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  Emilie Bellet: they can actually save and invest. And it's very important
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  Emilie Bellet: to build individual safety nets and individual security. So if
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  Emilie Bellet: you've been relying on your partner, it's making sure you
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  Emilie Bellet: start building your pot, you start building your investments, even
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  Emilie Bellet: if they're much smaller. But having this level of first
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  Emilie Bellet: financial security and then financial independence is going to be
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  Emilie Bellet: really important.
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  Iona Bain: Very well argued. So, I have a confession to make
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  Iona Bain: now, which is that I have been on a break
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  Iona Bain: from investing. I want to go back to it, but
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  Iona Bain: I want to buy a house in the near future
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  Iona Bain: and I want that money to be there for me,
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  Iona Bain: should I need it. And I'm imagining a lot of
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  Iona Bain: people do feel in the short term if they want
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  Iona Bain: to achieve certain goals like buying a house, that investing
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  Iona Bain: is not the right thing for them to do. Is
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  Iona Bain: that a sensible decision, Emilie, or am I wrong to
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  Iona Bain: have a break from investing?
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  Emilie Bellet: I think you know better than anyone what you need
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  Emilie Bellet: and what are your goals. We all have a different
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  Emilie Bellet: life and we save for different things. So when you
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  Emilie Bellet: invest, you should really go back to your goals. And
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  Emilie Bellet: I love to break my goals into short- term goals,
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  Emilie Bellet: medium term goals, and long- term goals. Here, you're talking
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  Emilie Bellet: about one of your goals that is buying a house,
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  Emilie Bellet: and depending on how far or how quick you want
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  Emilie Bellet: to achieve this goal, you will need to put money
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  Emilie Bellet: into these pots. So ideally, in the perfect scenario, we
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  Emilie Bellet: put some money into each of these pots, short- term
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  Emilie Bellet: goals, medium term goals, and long- term goals. What I
• 14:59
  Emilie Bellet: would say is, depending on also where you are with
• 15:02
  Emilie Bellet: work, it's completely fine to address your contribution depending on
• 15:05
  Emilie Bellet: how money you need to cover also your lifestyle and
• 15:09
  Emilie Bellet: to cover your needs. So you don't want to be
• 15:11
  Emilie Bellet: in a position where you have a lot of credit
• 15:13
  Emilie Bellet: card debt, you're struggling to repay, debt starts to snowball,
• 15:17
  Emilie Bellet: but at the same time, you're investing when you're paying
• 15:19
  Emilie Bellet: a lot of money on your interest. Same when you
• 15:21
  Emilie Bellet: don't have an emergency fund, maybe you can keep investing
• 15:24
  Emilie Bellet: a little bit, but also build this fund that you will
• 15:26
  Emilie Bellet: have in case something happens. Because the problem with investing
• 15:30
  Emilie Bellet: is that the money is invested in the stock market. If
• 15:33
  Emilie Bellet: you need cash for any reason but if something crazy
• 15:37
  Emilie Bellet: happens, tomorrow the stock market crashes, your investments drop maybe
• 15:41
  Emilie Bellet: 20%, 30%, but you need the money. Where are you going to find
• 15:44
  Emilie Bellet: the money if you can't sell your investments at a decent
• 15:46
  Emilie Bellet: price? You're probably going to go with credit card debt
• 15:49
  Emilie Bellet: or overdraft. So, it's all about managing what you need,
• 15:53
  Emilie Bellet: what are your goals, versus what you can do. But
• 15:55
  Emilie Bellet: I would say is, I don't think you should stop
• 15:58
  Emilie Bellet: investing because of the uncertainties on the market. You may
• 16:01
  Emilie Bellet: think, oh, look at what's happening today, I don't know
• 16:03
  Emilie Bellet: when I'm going to start investing again. So maybe you
• 16:06
  Emilie Bellet: have lower contribution, you keep investing, and then when the
• 16:09
  Emilie Bellet: time is right, then you can start and up your
• 16:11
  Emilie Bellet: contribution. Because we think as investing as sacrificing a little
• 16:15
  Emilie Bellet: bit of money, it's locked for a long period of
• 16:17
  Emilie Bellet: time. But think of it as really paying your future
• 16:20
  Emilie Bellet: self and really visualizing why you will need the money and
• 16:23
  Emilie Bellet: how you will use the money in the longer period
• 16:25
  Emilie Bellet: of time.
• 16:26
  Iona Bain: Yeah, and feeling inspired to invest because you know that
• 16:29
  Iona Bain: that's going to be building up that bigger pot for
• 16:31
  Iona Bain: you so you've got more choices further down the line.
• 16:35
  Iona Bain: Okay, Emilie, you have convinced me that I may be ought
• 16:37
  Iona Bain: to just get reconnected with my investing portfolio and it'll
• 16:41
  Iona Bain: be for my own good. So, there will be people
• 16:44
  Iona Bain: watching and listening who might be thinking, investing is not
• 16:47
  Iona Bain: something that I can do right now. Maybe because I've
• 16:50
  Iona Bain: got credit card debt, maybe it's just something that I
• 16:53
  Iona Bain: just don't have the bandwidth to really think about. But
• 16:56
  Iona Bain: what are some of the reasons why people should have
• 16:58
  Iona Bain: a baseline of knowledge about investing, regardless of whether they
• 17:01
  Iona Bain: do it or not?
• 17:02
  Emilie Bellet: I think you can just really understand the basics of
• 17:04
  Emilie Bellet: investing, that it's a way to build wealth over a
• 17:07
  Emilie Bellet: long period of time, that your goal is to beat
• 17:09
  Emilie Bellet: inflation. So, I really see it in two buckets, saving,
• 17:13
  Emilie Bellet: short term, investing, medium to long term. So, that's the
• 17:16
  Emilie Bellet: first thing you need to understand. The second thing is
• 17:19
  Emilie Bellet: around maybe scams and anything that could happen around the
• 17:22
  Emilie Bellet: investing space. Maybe people want your money. We've seen a
• 17:25
  Emilie Bellet: lot of scams going around on social media, phishing emails
• 17:29
  Emilie Bellet: and stuff like that. So just understand what is legit
• 17:32
  Emilie Bellet: or not with investing, and these are very common and
• 17:35
  Emilie Bellet: people feel for it. So if it happened to you, don't worry,
• 17:37
  Emilie Bellet: it happened to so many people.
• 17:39
  Iona Bain: That's really, really good advice because people could perhaps see
• 17:43
  Iona Bain: something online and think, well, that looks like a fantastic
• 17:46
  Iona Bain: scheme, I really need to get in on this. But
• 17:48
  Iona Bain: actually, if it's too good to be true, then you
• 17:52
  Iona Bain: need to walk away, and that's why I need to
• 17:53
  Iona Bain: understand why investing works.
• 17:55
  Emilie Bellet: It's about learning about yourself and your reaction when there's
• 17:59
  Emilie Bellet: big moves in the stock market.
• 18:00
  Iona Bain: Learning by doing.
• 18:01
  Emilie Bellet: Learning by doing.
• 18:03
  Iona Bain: So, if viewers and listeners are anything like me, they'll
• 18:06
  Iona Bain: want to go and have a cup of tea or
• 18:08
  Iona Bain: a cup of coffee after listening to this chat and
• 18:10
  Iona Bain: really think about what we've been talking about today, because
• 18:12
  Iona Bain: it's been so fascinating. But whilst they're waiting for the
• 18:15
  Iona Bain: kettle to boil, what's one thing they could do after
• 18:19
  Iona Bain: our discussion today?
• 18:21
  Emilie Bellet: So, one thing they could do is probably check their
• 18:23
  Emilie Bellet: pension contribution. How is their pension invested? And if you
• 18:26
  Emilie Bellet: don't have a pension, is maybe getting informed about opening
• 18:30
  Emilie Bellet: maybe a personal pension or a SIP and really trying
• 18:33
  Emilie Bellet: to think about your future self, and this should be
• 18:37
  Emilie Bellet: one of your top goals.
• 18:38
  Iona Bain: Fab, log into your pension account. Great stuff. Thank you
• 18:41
  Iona Bain: so much, Emilie, it's been such a pleasure having you.
• 18:43
  Emilie Bellet: Thanks for having me.
• 18:46
  Iona Bain: That's it for part one of our investing chat. In
• 18:48
  Iona Bain: part two, we'll be getting more practical. We'll talk through
• 18:51
  Iona Bain: the different ways you can invest and how to build
• 18:54
  Iona Bain: a diversified portfolio. So, if today helps you feel a
• 18:58
  Iona Bain: little bit curious about investing, part two is where we'll
• 19:01
  Iona Bain: turn that confidence into action. So, why not share this
• 19:06
  Iona Bain: episode with a friend? Start your investing journey together and
• 19:09
  Iona Bain: help them get a little bit richer too. This podcast
• 19:13
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• 19:16
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• 19:20
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• 19:24
  Iona Bain: you would answered on the show, then you can get
• 19:26
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• 19:30
  Iona Bain: you soon. Thanks for listening and watching.