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Should I Be Worried About My Money Right Now? What Global Uncertainty Actually Means for Your Portfolio · She's On The Money

• 0:00
  Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
• 0:03
  Speaker 1: woman and I'm here to acknowledge country t glennyan Ganya, Niana,
• 0:08
  Speaker 1: Kaka yah Ya bin ahaka Nian our gay in Mbina
• 0:11
  Speaker 1: yakarum jar dominyamiga Umagahawakawaman damon imlan Bumba bang Gadabomba in
• 0:17
  Speaker 1: and now in wakah ghana on yakraum jar Watnadaa. Hello,
• 0:22
  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
• 0:26
  Speaker 1: We thank acknowledge and respect the Aberiginal people's land that
• 0:29
  Speaker 1: we're gathering on today. Take pleasure in all the land
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  Speaker 1: and respect all that you see. She's on the Money
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  Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,
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  Speaker 1: knowledge and resources for you to thrive.
• 0:45
  Speaker 2: She's on the Money.
• 0:47
  Speaker 3: She's on the Money.
• 1:07
  Speaker 4: Hello, and welcome to She's on the Money. The podcast
• 1:10
  Speaker 4: is here to tell you your money is not on fire,
• 1:12
  Speaker 4: even if the news headlines are really trying to convince
• 1:15
  Speaker 4: you otherwise. So if you've opened your investing app lately
• 1:18
  Speaker 4: and immediately wished you hadn't, if you've woken up a
• 1:20
  Speaker 4: two me, I'm wondering whether you should move everything to cash,
• 1:23
  Speaker 4: or if your mama's texted you asking for super is going.
• 1:25
  Speaker 3: To be Okay, everyone's mom's doing that.
• 1:27
  Speaker 4: Everyone's momma's doing that. Then you're in the right place,
• 1:30
  Speaker 4: because today we are doing a proper, beautiful deep dive
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  Speaker 4: into what it is actually going on in the world
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  Speaker 4: and most importantly, what it means and what it doesn't
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  Speaker 4: mean for your money. Here's what Victoria told me we're
• 1:40
  Speaker 4: going into today, what is actually driving the global market
• 1:45
  Speaker 4: chaos right now? Explained without the jargon. I did say
• 1:49
  Speaker 4: that how Australia fits into all this and why we
• 1:52
  Speaker 4: are more protected than you think.
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  Speaker 3: That's very company.
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  Speaker 5: Yeah, I had to throw in a good one. I
• 1:56
  Speaker 5: did give Becka a laundry list of stuff that we're
• 1:58
  Speaker 5: going to talk about today, and I was like, are
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  Speaker 5: you you strapping?
• 2:00
  Speaker 3: Thank you?
• 2:01
  Speaker 4: So we're almost learning this together what you should do
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  Speaker 4: with your portfolio and you're super right now?
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  Speaker 5: Okay, body wants to know and they're going v should
• 2:09
  Speaker 5: I like, sell my shares, spoil it?
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  Speaker 2: No?
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  Speaker 3: No, keep listening, yes, keep listening. So it sounds like, oh,
• 2:15
  Speaker 3: I have to jump.
• 2:16
  Speaker 5: In there because I'm like, what if they like are
• 2:18
  Speaker 5: really busy, and they like get out of the car,
• 2:19
  Speaker 5: and they haven't listened to this whole episode and they're like,
• 2:21
  Speaker 5: oh V, yeah, V would sellow shares. She's pretty conservative.
• 2:24
  Speaker 4: If you stop listening right now, all you know is
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  Speaker 4: the world is f U c K D.
• 2:30
  Speaker 3: Yeah, it's not true. Good spelling, because they might be
• 2:31
  Speaker 3: kids in the car. Thank you. Okay, learning language with
• 2:36
  Speaker 3: Auntie Beck. We may as well do that while we're here.
• 2:39
  Speaker 3: You know, we're just helping you.
• 2:41
  Speaker 4: Out what you absolutely should not do and why panic
• 2:44
  Speaker 4: is the most expensive thing you can spend.
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  Speaker 3: That's so that's clever.
• 2:48
  Speaker 4: Yeah, you're welcome, and why the most powerful investing move
• 2:51
  Speaker 4: you can make right now might actually be nothing. I'm
• 2:54
  Speaker 4: beckside and with me is the woman who somehow stays
• 2:56
  Speaker 4: completely calm when everyone else is in a full financial spiral.
• 3:00
  Speaker 4: Victoria Divine Heavy.
• 3:01
  Speaker 3: Hello baby.
• 3:03
  Speaker 5: Yeah, so when you're in a financial spiral, I'm not slay,
• 3:07
  Speaker 5: but I spiral in every other aspect of my life.
• 3:10
  Speaker 3: So that's okay.
• 3:10
  Speaker 5: I just wanted you to know that it's like I
• 3:12
  Speaker 5: don't have my stuff together all the time. And I
• 3:15
  Speaker 5: love that you said calm before, because I promise you.
• 3:19
  Speaker 5: I have had panic two am thoughts as well, not recently.
• 3:24
  Speaker 5: I'm very proud of myself about this, but I'm not
• 3:27
  Speaker 5: immune to this either. Like I have logged into my
• 3:30
  Speaker 5: investing app, I have seen the news, and I'm like,
• 3:33
  Speaker 5: I'm pretty concerned, And.
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  Speaker 3: Lucky for you, what I do when I'm concerned is
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  Speaker 3: not what you do when you're concerned.
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  Speaker 5: I like start researching and you start going, yeah, I'm
• 3:43
  Speaker 5: probably gonna need.
• 3:44
  Speaker 3: A soda water.
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  Speaker 5: And I want to make sure that all of you
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  Speaker 5: guys have the context that I now have because I've
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  Speaker 5: done the research for you.
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  Speaker 2: You know what.
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  Speaker 3: That's what I love about you. And it's not that
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  Speaker 3: you don't feel it, you just know what to do
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  Speaker 3: with it. Well I try.
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  Speaker 5: I feel like I have to like deep dive research
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  Speaker 5: to make sure that everything's not actually on. And that's
• 4:00
  Speaker 5: what this whole episode is going to be about. So
• 4:02
  Speaker 5: if you're feeling a little bit nervous about your money
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  Speaker 5: right now, girl, you are completely normal, and by the
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  Speaker 5: end of this episode, hopefully you're gonna know exactly what
• 4:11
  Speaker 5: to do, exactly what not to do, and where to
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  Speaker 5: put that feeling because it's valid. I don't want to
• 4:17
  Speaker 5: be like, Oh, what you're feeling is so silly, don't
• 4:19
  Speaker 5: do anything like it's so valid. It's your money and
• 4:22
  Speaker 5: we're seeing it look like it's going down, so let's
• 4:26
  Speaker 5: just get into it.
• 4:27
  Speaker 3: Mm hmm, Okay, Beck, I.
• 4:28
  Speaker 5: Want to do a really quick gut check with you.
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  Speaker 5: Have you looked at your investing app recently?
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  Speaker 2: Yes?
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  Speaker 4: Almost every day, Yes, and it's not looking good. But hey,
• 4:40
  Speaker 4: if I was in Victorio's shoes, I would be leaving it. Also,
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  Speaker 4: I know we've spoken about it's like they're on sale.
• 4:45
  Speaker 4: Shares are on.
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  Speaker 5: Sale exactly exactly, and that is completely normal. And if
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  Speaker 5: you're feeling anxious about it, that's actually human biology. Yes,
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  Speaker 5: Like it's quite literally hardwired into your brain that when
• 4:57
  Speaker 5: a human experience is lost, we don't like that. We
• 5:01
  Speaker 5: don't like losing something that we have. We don't like
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  Speaker 5: losing something that we are comfortable with. So I'm comfy.
• 5:07
  Speaker 5: Why are you taking my good chair?
• 5:09
  Speaker 3: I know, you know, like I sat in it.
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  Speaker 5: You know, I pondered whether I should buy that one,
• 5:13
  Speaker 5: and then all of a sudden, I did buy that one.
• 5:15
  Speaker 3: Why take it off? Me's my favorite chair now?
• 5:18
  Speaker 5: But our brains are literally wired to feel losses more
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  Speaker 5: acutely than you feel gains, and that's called there's a
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  Speaker 5: name for this, it's called loss of version. So it's
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  Speaker 5: a cognitive bias that every single human being has, regardless
• 5:32
  Speaker 5: of how put together they might look. Because we're basically
• 5:35
  Speaker 5: all just cave people and we're just trying not to lose.
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  Speaker 3: Our food supply. Yeah, God, we're good. We're just little
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  Speaker 3: cave women. So we're all just kind of panicking like
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  Speaker 3: cave people.
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  Speaker 5: We are cave people, yeah, but we're panicking like cave
• 5:46
  Speaker 5: people because it makes sense. But the market has recovered
• 5:49
  Speaker 5: every single time. We always forget that, though, don't we.
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  Speaker 3: Yeah, And do you know what I'm saying online from
• 5:55
  Speaker 3: all the finance bros, Oh, this time is different? Getting
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  Speaker 3: Is it different?
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  Speaker 4: That would scare me? That would scare me?
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  Speaker 3: Yeah, that's the point.
• 6:05
  Speaker 5: Like they're trying to drive their narrative, and I kind
• 6:08
  Speaker 5: of like, I don't know, are you allowed to want
• 6:11
  Speaker 5: to punch someone in the face while knowing full well
• 6:13
  Speaker 5: that that's not something I would ever do?
• 6:15
  Speaker 3: Yeah, of course I can say that. They still talk.
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  Speaker 5: I'm like a little chihawa who gets held by their
• 6:20
  Speaker 5: owner and like yaps at everybody going past. But if
• 6:23
  Speaker 5: I was put on the floor, I would yeat, I'd
• 6:26
  Speaker 5: be out. Sorry, all talk, no bite. But the market
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  Speaker 5: has literally recovered every single time we have experienced uncertainty
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  Speaker 5: in history back every single time. That's the recession, the
• 6:37
  Speaker 5: global financial crisis. Like, and you know what today is
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  Speaker 5: not about. Yeah, it's not about toxic positivity. I'm not
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  Speaker 5: here being like Beck, it's fine, it's amazing. There's a
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  Speaker 5: lot of really crappy things going on in the market
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  Speaker 5: at the moment, and financially we are all feeling it.
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  Speaker 3: I'm not here to be toxically positive.
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  Speaker 5: I'm literally here to explain to you what's going on
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  Speaker 5: in a way that you're like, oh, that makes sense,
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  Speaker 5: and I'm not stressed about that, but god, I'm.
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  Speaker 3: Still stressed about my cash.
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  Speaker 5: You're allowed to be, but we don't want you to
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  Speaker 5: be making financial decisions that ultimately impact future you that
• 7:09
  Speaker 5: you go, oh my god, I wish i'd known better,
• 7:13
  Speaker 5: me giving you better right now? Right, this is just
• 7:15
  Speaker 5: actual content. First things first, back, let's talk about what
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  Speaker 5: is actually happening. Yes, because I feel like we've heard
• 7:20
  Speaker 5: some headlines, we've sent some tiktoks, because I think part
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  Speaker 5: of the problem is that everyone's getting fragments of information.
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  Speaker 5: You're not sitting down and watching a whole deep dive
• 7:30
  Speaker 5: documentary on what's happening in the global markets at the moment.
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  Speaker 3: You're seeing it on TikTok.
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  Speaker 5: You see a scary headline here, and maybe group chat
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  Speaker 5: is spiraling. They're like, oh my god, did you see xyzed? Like,
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  Speaker 5: let's just lay it out very clearly, so let's zoom out. Beck,
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  Speaker 5: I reckon, there are three things happening all at once
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  Speaker 5: right now, so it's not just one thing, and they
• 7:53
  Speaker 5: are different issues with very different impacts. So the first
• 7:57
  Speaker 5: you've probably heard about the war, you've heard about tariffs.
• 8:00
  Speaker 5: The United States has been rolling out what I would
• 8:03
  Speaker 5: say like sweeping tariffs. Why I still don't fully understand,
• 8:08
  Speaker 5: not because I don't understand how it works. Maybe I
• 8:12
  Speaker 5: just think their leaders a little bit a Lulu, you know,
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  Speaker 5: you know when you're just like, yep, this actually, like genuinely,
• 8:19
  Speaker 5: this actually doesn't make sense. You're not making friends with
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  Speaker 5: other countries, You're making life harder for everybody.
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  Speaker 4: He's senile, right, That's how it feels.
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  Speaker 5: So like I'm going to explain this one to you,
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  Speaker 5: but it's still kind of not going to make sense
• 8:33
  Speaker 5: as to why, yes, he's doing it. He'll say, Oh,
• 8:36
  Speaker 5: it's because America is great, great, fantastic.
• 8:38
  Speaker 1: That's not it.
• 8:39
  Speaker 5: I'm probably going to get banned from America at some
• 8:41
  Speaker 5: point because.
• 8:42
  Speaker 3: Of all of these quote hate speech.
• 8:44
  Speaker 5: That's okay, not that sad, but in saying that, maybe
• 8:46
  Speaker 5: I haven't because the world's biggest finance content creators conference
• 8:51
  Speaker 5: that I go to sometimes that's over there.
• 8:53
  Speaker 3: I see maybe Shay, they'll bring it here, whatever, whatever.
• 8:57
  Speaker 5: But tariffs are basically taxes on goods, So anything coming
• 9:01
  Speaker 5: into the country is getting more taxes. And when the
• 9:04
  Speaker 5: world's largest economy does something like that, the ripple effects
• 9:08
  Speaker 5: are massive. So we're not talking about just like a
• 9:10
  Speaker 5: small country or a small island making that decision and people.
• 9:13
  Speaker 3: Are like, oh, their taxes are higher. Who cares?
• 9:16
  Speaker 5: Like this impacts the entire world, and you know what happens.
• 9:20
  Speaker 5: Other countries get pretty annoyed by that, and they retaliate.
• 9:24
  Speaker 5: It's not oh they increase their taxes too. They retaliate,
• 9:29
  Speaker 5: and that impacts everybody. So supply chains are disrupted, companies
• 9:33
  Speaker 5: get uncertain about what their costs are going to look
• 9:36
  Speaker 5: like in the future, what their income is going to
• 9:38
  Speaker 5: look like, and uncertainty gets priced into the share market
• 9:41
  Speaker 5: very quickly, because, as you've seen, when people get anxious
• 9:44
  Speaker 5: about their money, markets change.
• 9:47
  Speaker 4: Got you, got you, got you. So when you got
• 9:49
  Speaker 4: your investing app and it's like down or yeap is
• 9:53
  Speaker 4: not as exciting as you thought it might be, that's
• 9:56
  Speaker 4: kind of like the market is just kind of being anxious.
• 9:59
  Speaker 5: Yeah, absolutely, yeah, because are you gonna invest? Well, technically
• 10:04
  Speaker 5: I do, but beck, if you're feeling really anxious about something,
• 10:08
  Speaker 5: are you gonna do it? Or are you gonna hesitate
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  Speaker 5: a little bit? I dare say, like, if you're really
• 10:13
  Speaker 5: scared to do something in general, we're not even talking
• 10:15
  Speaker 5: about money, bitter, I'm gonna say you're really scared of trains.
• 10:18
  Speaker 4: Well, probably gonna take you a second to get on, right, so.
• 10:21
  Speaker 5: You're gonna hesitate before getting on. But you're also like, oh,
• 10:24
  Speaker 5: but I got it. Yeah, Like I'll get on the train,
• 10:26
  Speaker 5: but I'm a little bit anxious about it, so I'm
• 10:28
  Speaker 5: probably gonna spend a little bit more time doing it.
• 10:31
  Speaker 3: So maybe I'll do it tomorrow instead of today. Maybe
• 10:33
  Speaker 3: I won't invest today because markets are let's just call
• 10:37
  Speaker 3: them giant anxiety machines, and they hate uncertainty. They're your
• 10:42
  Speaker 3: type a friend.
• 10:44
  Speaker 5: If their plans are going off track, spiral, Yeah, she's spiraling.
• 10:48
  Speaker 5: And the moment something unpredictable happens, investors start reassessing risk
• 10:53
  Speaker 5: and prices move. And it doesn't necessarily mean that the
• 10:56
  Speaker 5: underlying value of that company has changed, because what's actually
• 11:00
  Speaker 5: changed nothing except your view of it.
• 11:03
  Speaker 3: That's at the point true.
• 11:04
  Speaker 4: Yeah, okay, okay, at.
• 11:06
  Speaker 5: This point, nothing except your view of it just means
• 11:08
  Speaker 5: the mood's changed, the vibes are off.
• 11:10
  Speaker 4: Yeah, okay, And so what's the second thing?
• 11:12
  Speaker 5: Okay, So the second thing interest rates. We're talking a
• 11:16
  Speaker 5: lot about it. It's very in the media here in Australia,
• 11:19
  Speaker 5: and the RBA has been navigating, i would say, its
• 11:22
  Speaker 5: own path. We've been seeing interest rates start to come down,
• 11:26
  Speaker 5: which is genuinely a very good thing for a lot
• 11:29
  Speaker 5: of people, and then they've gone back up, which is
• 11:32
  Speaker 5: obviously making people stressed because they're like, well, if our
• 11:35
  Speaker 5: economy is popping interest rates back up, that's really like
• 11:39
  Speaker 5: that means something's wrong, right, doesn't necessarily mean something's wrong.
• 11:43
  Speaker 5: It means that we're trying to prevent something from going wrong, right,
• 11:47
  Speaker 5: So it's all about supply and demand, right, So like,
• 11:51
  Speaker 5: the economy still has the same supply, but demand has
• 11:55
  Speaker 5: gone down because you're anxious, so you're not going to
• 11:57
  Speaker 5: buy it today. So when demand goes down, they kind
• 12:00
  Speaker 5: of freak out and go, oh my god, they don't
• 12:02
  Speaker 5: want my shar anymore. What if it goes down in price,
• 12:05
  Speaker 5: maybe she'll want it more, But that's still making me anxious,
• 12:11
  Speaker 5: so I'm gonna keep holding off.
• 12:12
  Speaker 3: Does that make sense?
• 12:14
  Speaker 5: Globally when we talk about interest rates, especially in the US,
• 12:17
  Speaker 5: there is so much back and forth about where interest
• 12:20
  Speaker 5: rates are heading. I don't think anyone is super clear
• 12:23
  Speaker 5: over what's going to happen in the next six to
• 12:25
  Speaker 5: twelve months. If we go back another six months, Remember
• 12:28
  Speaker 5: we were saying that, oh, interest rates are headed down,
• 12:31
  Speaker 5: but we didn't know what the rest of the industry
• 12:33
  Speaker 5: or the rest of the market was going to do.
• 12:35
  Speaker 5: And this is actually a really good example of when
• 12:37
  Speaker 5: one lever moves, for example, tariffs and stuff start happening,
• 12:41
  Speaker 5: other levers in other areas start moving as well. So
• 12:45
  Speaker 5: we don't particularly know where interest rates are headed, and
• 12:48
  Speaker 5: that creates its own level of volatility.
• 12:50
  Speaker 3: M okay, okay. And the third thing, so this is.
• 12:54
  Speaker 5: Just general geopolitical noise. So a lot is happening in
• 12:58
  Speaker 5: the world right now. So when we say geopolitical it
• 13:00
  Speaker 5: sounds really intelligent. I like saying that word, but it
• 13:03
  Speaker 5: just means that there's a lot of stuff going on
• 13:06
  Speaker 5: in politics internationally and markets.
• 13:11
  Speaker 3: They don't really like that.
• 13:12
  Speaker 5: They don't like uncertainty. They price in uncertainty, and then
• 13:17
  Speaker 5: that means we get volatility, and volatility is just when
• 13:20
  Speaker 5: the price of something goes up and down and up
• 13:22
  Speaker 5: and down more consistently.
• 13:24
  Speaker 4: Yeah, okay, it kind of feels like everything's happening all
• 13:26
  Speaker 4: the same time.
• 13:27
  Speaker 3: I feel like idiots.
• 13:28
  Speaker 5: And that's why I was like, look, there's like three
• 13:29
  Speaker 5: things and they're all coming together and they kind of interact,
• 13:33
  Speaker 5: but they are also separate things. But what I want
• 13:36
  Speaker 5: you to take from today is that this isn't actually unusual.
• 13:41
  Speaker 5: We are currently in a world that is so much
• 13:45
  Speaker 5: more visible than it used to be. The world has
• 13:47
  Speaker 5: always had periods of I would say, general chaos, recessions
• 13:51
  Speaker 5: and wars and pandemics and financial crises, and every single
• 13:55
  Speaker 5: time people thought, oh, my goodness, Victoria.
• 13:59
  Speaker 3: What if the market doesn't recovered this time, and you
• 14:02
  Speaker 3: know what.
• 14:02
  Speaker 5: Every single time it has And that's not even me
• 14:06
  Speaker 5: being blindly optimistic, which I can be sometimes. That's actually
• 14:10
  Speaker 5: just history. Yeah, okay, not blindly optimistic.
• 14:14
  Speaker 3: It is just history. We have always recovered, always recovered. Exactly.
• 14:18
  Speaker 4: Why do the finance for his right now think it's
• 14:20
  Speaker 4: not gonna Well, we don't know.
• 14:22
  Speaker 3: I don't know. Why aren't they looking at history?
• 14:24
  Speaker 2: Oh?
• 14:25
  Speaker 3: Because it doesn't get views.
• 14:26
  Speaker 4: No, that's so true.
• 14:27
  Speaker 3: I go on TikTok and.
• 14:28
  Speaker 5: Make a video and be like yeah, day, it's actually
• 14:30
  Speaker 5: okay mmmmm, I'm not gonna get.
• 14:32
  Speaker 3: That many views.
• 14:33
  Speaker 5: No, I'm not good at rage bait except for on
• 14:36
  Speaker 5: April fulls day. Good at rage bait on April four.
• 14:38
  Speaker 3: You're so full s day.
• 14:41
  Speaker 5: Now, let's stop talking about global Let's zoom like into
• 14:44
  Speaker 5: just our economy. Let's just talk about Australia, okay, Because
• 14:47
  Speaker 5: I think it's really easy to hear what's going on
• 14:49
  Speaker 5: in the global news and think all right, that's over there,
• 14:51
  Speaker 5: like it's big world news.
• 14:53
  Speaker 3: But like I live in.
• 14:53
  Speaker 5: Australia and like wars and global crisis, I get it.
• 14:58
  Speaker 5: But low key, we all just I don't know what
• 15:00
  Speaker 5: the heck's going on with our own ETFs. Yeah, I
• 15:02
  Speaker 5: just want to know what does this mean for me?
• 15:04
  Speaker 5: And the answer is honestly quite a bit. I get
• 15:09
  Speaker 5: quite frustrated when people say I'm not a political person.
• 15:12
  Speaker 5: Everything in this universe, Beck is political.
• 15:15
  Speaker 4: Yeah.
• 15:15
  Speaker 5: Unfortunately, money is inherently political, and that's why we have
• 15:19
  Speaker 5: to lean into it and understand it. I don't mean
• 15:22
  Speaker 5: that when you're political you have to go out and
• 15:24
  Speaker 5: champion change. You don't have to do anything like that's
• 15:26
  Speaker 5: my job. You can join me, that's cool, But like
• 15:29
  Speaker 5: money is inherently political, and when you have a dollar
• 15:32
  Speaker 5: in your hand, you were in politics.
• 15:34
  Speaker 3: Wow.
• 15:35
  Speaker 5: Like, I don't care if you say, oh, I'm not
• 15:37
  Speaker 5: into politics, Yes you are, Yeah, yes you are. You
• 15:40
  Speaker 5: just clearly don't understand it. Well enough kind of rude
• 15:43
  Speaker 5: for me, but also whatever, But as much as quite
• 15:48
  Speaker 5: a bit is going on, also, low key, don't stress this,
• 15:52
  Speaker 5: probably not as much as you're fearing, because you know
• 15:54
  Speaker 5: what we're really good at, especially as the women making
• 15:57
  Speaker 5: up way worse in our heads than what it is.
• 16:00
  Speaker 3: Right.
• 16:00
  Speaker 5: So, Australia is what we would call a really big
• 16:03
  Speaker 5: commodity exporter. So we've got lots of stuff in our ground.
• 16:08
  Speaker 5: We've got iron ore. We all like noah, mate, who's
• 16:11
  Speaker 5: done fly and fly out mining jobs? Right, We've got coal,
• 16:14
  Speaker 5: we've got lithium, and a lot of that stuff that
• 16:17
  Speaker 5: we pull out of the ground goes to China. And
• 16:20
  Speaker 5: when there's tension between America and China, it affects demand
• 16:24
  Speaker 5: for our commodities, which then affects our mining companies, which
• 16:28
  Speaker 5: then takes up a huge chunk of the Australian share market.
• 16:30
  Speaker 5: Right because like, if China doesn't need as much fuel
• 16:33
  Speaker 5: because they're being taxed by the Americans who buy a
• 16:36
  Speaker 5: lot of their stuff, well, our fuel's not worth as
• 16:39
  Speaker 5: much as it, so that impacts Australia.
• 16:42
  Speaker 3: Yes, understood.
• 16:43
  Speaker 5: And that's why everybody's got skin in this game. It's
• 16:47
  Speaker 5: not oh well that's just something America's doing.
• 16:50
  Speaker 3: Hahaha.
• 16:50
  Speaker 5: The American people are you know, going to have repercussions
• 16:54
  Speaker 5: of this, No, Queen, you are too.
• 16:56
  Speaker 4: So the ASX the biggest Australian companies. They're ones that
• 17:00
  Speaker 4: we've actually heard of.
• 17:01
  Speaker 5: Yeah, absolutely, so you've heard of VHP, I have heard
• 17:05
  Speaker 5: of Yeah, you've heard of Rio Tinto. Yes, yes, so
• 17:08
  Speaker 5: they make up a very significant chunk of our share market.
• 17:12
  Speaker 5: So if you're in a broad Australian market ETF, you
• 17:15
  Speaker 5: do have exposure to mining and it all flows from there.
• 17:19
  Speaker 4: A new Australia does a lot of trade with China.
• 17:21
  Speaker 4: Have been realized that somehow ends up mattering to our investments,
• 17:25
  Speaker 4: you know what I mean?
• 17:26
  Speaker 3: Yeah, and all links.
• 17:27
  Speaker 5: It's a really frustrating situation. Side note, because a lot
• 17:30
  Speaker 5: of people always like, oh my god, like I only
• 17:32
  Speaker 5: want to invest ethically, I want an Australian ETF. I'm like, well,
• 17:35
  Speaker 5: actually Australia is mostly commodities and that's iron and that's
• 17:39
  Speaker 5: exports that go to China. And sometimes people aren't comfortable
• 17:43
  Speaker 5: with that. So maybe in Australian ETF isn't for you.
• 17:45
  Speaker 5: But I think it's important to be like side note again,
• 17:49
  Speaker 5: I think it's important to be supporting Australian companies because
• 17:54
  Speaker 5: if we stop supporting them, they aren't going to have
• 17:57
  Speaker 5: the revenue.
• 17:57
  Speaker 3: To try better and do better and research better and
• 18:00
  Speaker 3: make it more sustainable.
• 18:01
  Speaker 5: Like I'd prefer to be supporting iron ore companies and
• 18:06
  Speaker 5: BHP when I know that they're taking steps towards being
• 18:09
  Speaker 5: more sustainable. Like to me, I go okay, well that
• 18:12
  Speaker 5: makes sense, and I'm still putting my money back into
• 18:14
  Speaker 5: our economy, not just the global economy. And it really
• 18:18
  Speaker 5: helps when you can start to see what that chain
• 18:21
  Speaker 5: looks like, Like I go, okay, Beck, you know, China
• 18:24
  Speaker 5: buys some iron ore from US to produce some fuel
• 18:27
  Speaker 5: that they use to make goods and services that they
• 18:29
  Speaker 5: then sell on to America. You go, oh, okay, well
• 18:33
  Speaker 5: that makes sense. And then the second thing is our dollar.
• 18:37
  Speaker 5: So when global uncertainty spikes, the Australian dollar tends to
• 18:41
  Speaker 5: become quite weak. And what that means is like you know,
• 18:45
  Speaker 5: when you're looking up how much your dollar is worth
• 18:47
  Speaker 5: to see if you can travel to America, Yeah, and
• 18:49
  Speaker 5: you're like, oh is that expensive or is that cheap?
• 18:51
  Speaker 5: And right now going to the US is so expensive
• 18:54
  Speaker 5: for US, yeah, which means that our Australian dollar is weak.
• 18:57
  Speaker 5: It's what economists call risk sensitive currency, which has been
• 19:02
  Speaker 5: good and a bad thing, which it sounds scary, but
• 19:04
  Speaker 5: I would say it has a silver lining. So a
• 19:07
  Speaker 5: lower Australian dollar is actually really good for Australian companies
• 19:11
  Speaker 5: that earn money overseats. Okay, So if you're an Australian
• 19:14
  Speaker 5: company and you earn US dollars, obviously that's a money
• 19:17
  Speaker 5: win because that's when they bring that money home, and
• 19:20
  Speaker 5: they're bringing.
• 19:20
  Speaker 3: More of it.
• 19:22
  Speaker 4: So it's not all bad news.
• 19:23
  Speaker 3: Absolutely not.
• 19:24
  Speaker 5: And thirdly, the Australian share market does move in correlation
• 19:29
  Speaker 5: with global markets, especially the US. You'll often see us
• 19:32
  Speaker 5: kind of reflecting it. We're not as dramatic. So like
• 19:35
  Speaker 5: when you're looking at the ebbs and flows or the
• 19:37
  Speaker 5: volatility of the market, how much it's going up and
• 19:39
  Speaker 5: how much it's going down. You might see America go
• 19:42
  Speaker 5: up like I don't know, seven or eight per cent,
• 19:44
  Speaker 5: but like Australia, we're just following behind. We're just a
• 19:47
  Speaker 5: little slower, we're just a little smaller, so you might
• 19:49
  Speaker 5: see us go up by like three or four Does
• 19:51
  Speaker 5: that make sense? So like we often track what they're doing,
• 19:53
  Speaker 5: but not to the same extent. And when Wall Street
• 19:57
  Speaker 5: has a really rough night, we often open lower the
• 20:00
  Speaker 5: next morning because all of the people on the share
• 20:03
  Speaker 5: market are like, oh.
• 20:03
  Speaker 3: Did you say what's going on in the US?
• 20:05
  Speaker 2: Right?
• 20:05
  Speaker 5: That's crazy girl, And so we're not as confident the
• 20:08
  Speaker 5: next morning so our share market opens and nobody's buying
• 20:12
  Speaker 5: as aggressively. Yeah, does that make sense because like we're
• 20:14
  Speaker 5: following our big sister.
• 20:16
  Speaker 4: Oh that's kind of cute.
• 20:17
  Speaker 3: No, not cute, because our big sister's kind of unhinged.
• 20:20
  Speaker 3: She's getting she's gone off the rails blogging the two.
• 20:23
  Speaker 5: She needs an intervention. But she's still our sister, so
• 20:26
  Speaker 5: we're still tied to her. But like you know, we're say,
• 20:29
  Speaker 5: blood is thicker than water. But it's just the reality
• 20:32
  Speaker 5: of being part of a globally connected financial system, unfortunately,
• 20:37
  Speaker 5: I see. Okay, but we do have some genuinely strong
• 20:40
  Speaker 5: buffers that a lot of other countries don't have, so
• 20:42
  Speaker 5: an independent central bank, so the RBA makes decisions for
• 20:46
  Speaker 5: our economy. And we did that episode the other day
• 20:48
  Speaker 5: to be like, the RBA makes decisions, but they're not
• 20:51
  Speaker 5: the government, and the government can't tell the RBA what
• 20:53
  Speaker 5: to do.
• 20:54
  Speaker 3: Money win.
• 20:55
  Speaker 5: But we also have a relatively strong labor market, and
• 20:59
  Speaker 5: we've got a superannuation system which yeah, you know how
• 21:01
  Speaker 5: sexy I think that is, which is honestly one of
• 21:05
  Speaker 5: the most robust retirement saving systems in the entire world.
• 21:09
  Speaker 4: I think we do take it for granted a little
• 21:10
  Speaker 4: bit because.
• 21:11
  Speaker 3: I do because we don't know any better.
• 21:13
  Speaker 4: Yeah, no one else really, Like you just got it, yes, right, Like.
• 21:16
  Speaker 5: You started working and you're just told by the way
• 21:18
  Speaker 5: this is how it is, and you're like, that's exactly
• 21:19
  Speaker 5: that doesn't make sense.
• 21:20
  Speaker 3: And that's why I'm like, God, this is actually so hot.
• 21:23
  Speaker 4: Yeah, it's really cool.
• 21:24
  Speaker 5: Like I know that lots of us aren't retiring with
• 21:27
  Speaker 5: enough superannuation, but we're sure as hell retiring with a
• 21:30
  Speaker 5: lot more than other countries because we have a system
• 21:33
  Speaker 5: in place, yes, And all we need to do to
• 21:35
  Speaker 5: make sure that we're basically retiring rich is learn the system.
• 21:40
  Speaker 3: Yeah, I'm a teacher. You don't worry, thank you.
• 21:43
  Speaker 5: We take it literally for granted, and that's why I'm
• 21:45
  Speaker 5: always like, look, I know that we get given these
• 21:49
  Speaker 5: things and it's fine, and we take it for granted,
• 21:51
  Speaker 5: but like we're so lucky, and that's why I'm always
• 21:53
  Speaker 5: trying to reframe it, like, beck, we're so lucky to
• 21:55
  Speaker 5: pay tax even then we don't like it, like, look
• 21:58
  Speaker 5: what we get, it's so much better than so many
• 22:00
  Speaker 5: other countries. And compulsory employer contributions to your retirement from
• 22:04
  Speaker 5: day one of work.
• 22:05
  Speaker 3: Sorry, that's genius.
• 22:06
  Speaker 5: I like that, And that's not normal globally, Like that
• 22:10
  Speaker 5: is not what other people are getting and doing, and that,
• 22:12
  Speaker 5: I would say, is an incredible thing that we've just
• 22:14
  Speaker 5: decided to stand it. M No, bitch, yeah no, you
• 22:19
  Speaker 5: have to say for your retirement and we're gonna invest
• 22:21
  Speaker 5: it and make your money, make money, okay.
• 22:24
  Speaker 4: And that's what happens when you, like say, move out
• 22:25
  Speaker 4: of home or something and you're like, oh, I didn't realize,
• 22:27
  Speaker 4: my lad. It just doesn't just get done.
• 22:30
  Speaker 3: I know, you know, when you're like, oh, oh okay, and.
• 22:33
  Speaker 5: So actually the best example, thank you, Like when you
• 22:36
  Speaker 5: move out of home and you realize that like like
• 22:38
  Speaker 5: there's no butter fairy who just updates the butter in
• 22:41
  Speaker 5: the fridge.
• 22:41
  Speaker 3: Every single who buys olive oil? Yeah, who buys olive oil?
• 22:44
  Speaker 3: Every aspect of your life is like, yeah, you gotta
• 22:47
  Speaker 3: do yourself. What do you mean I have to buy
• 22:49
  Speaker 3: dish washing tablets? I know that's crazy, Like, surely give
• 22:53
  Speaker 3: us some. They're so expensive, so expensive dish washer tablets.
• 22:57
  Speaker 3: Surely is a hack for that. If you guys know
• 22:59
  Speaker 3: a cheaper way, let us know, I just buy dish
• 23:01
  Speaker 3: washing powder. That's right. I've heard this. Yeah, I'm not
• 23:04
  Speaker 3: like the tablet's Honest to god, I think they're a scam.
• 23:07
  Speaker 3: They are.
• 23:08
  Speaker 5: You don't need a tablet that has a dissolvable cover
• 23:11
  Speaker 5: with powder inside it when I can just buy a
• 23:14
  Speaker 5: Cols brand true of lemon scented powder.
• 23:17
  Speaker 3: That's so true. And they convinced me otherwise.
• 23:19
  Speaker 4: That's what's in the little thing, isn't it.
• 23:20
  Speaker 5: Yeah, exactly, Well, get rid of the plastic and yes,
• 23:23
  Speaker 5: and sometimes they have like the little sachet of powder
• 23:26
  Speaker 5: with like a little gel bit in the middle.
• 23:28
  Speaker 3: What do you think the gel bit's made of? Soap?
• 23:30
  Speaker 3: Can't soap?
• 23:32
  Speaker 2: Ye?
• 23:33
  Speaker 3: So soap? Just chuck it in? Yeah, okay, well that's
• 23:37
  Speaker 3: a hack.
• 23:37
  Speaker 6: That true.
• 23:38
  Speaker 3: Thank you. I asked that I received. You take that
• 23:40
  Speaker 3: you save it for broke tips. Yes, we'll come back
• 23:42
  Speaker 3: to that. Now.
• 23:43
  Speaker 5: We're going to move on and talk about what I
• 23:45
  Speaker 5: think everybody is actually listening to this episode for what
• 23:49
  Speaker 5: does it actually mean for you? Because you've looked at
• 23:52
  Speaker 5: your app and there are things that are red And
• 23:54
  Speaker 5: I logged into my app this morning just to check
• 23:57
  Speaker 5: and make sure that I wasn't gonna record an episode
• 23:59
  Speaker 5: that made me looks silly and I have two ETFs
• 24:03
  Speaker 5: beck that are down eight percent. Yes, okay, just this morning,
• 24:07
  Speaker 5: and that feels a bit trashy. If you aren't understanding
• 24:11
  Speaker 5: the bigger picture, you'd be like, oh my gosh, I
• 24:14
  Speaker 5: bought something there's losing value. Sit down, sit down. Maybe
• 24:17
  Speaker 5: you're down like if you're buying individual shares ten, fifteen,
• 24:21
  Speaker 5: even twenty percent, And that's why individual shares are really scary,
• 24:25
  Speaker 5: and you're starting to think what do I do? Like
• 24:28
  Speaker 5: am I meant to pull all my money out? And
• 24:30
  Speaker 5: I want to give you three questions back that I
• 24:34
  Speaker 5: think you need to ask yourself before you do even
• 24:37
  Speaker 5: one thing. Okay, So the first question is when do
• 24:41
  Speaker 5: we actually need this money? So you've seen it go
• 24:43
  Speaker 5: down and you're a bit stressy. When, babe, when do
• 24:47
  Speaker 5: you need this money?
• 24:48
  Speaker 1: Yes?
• 24:48
  Speaker 5: Okay, did you need it tomorrow? If so, okay, that's
• 24:50
  Speaker 5: kind of trash Yeah yeah, but oh sorry. You were
• 24:54
  Speaker 5: investing for your financial future and you want to be
• 24:56
  Speaker 5: rich in thirty years.
• 24:58
  Speaker 3: You need it in thirty years?
• 24:59
  Speaker 5: Ye okay, okay, And I would say that's the biggest
• 25:02
  Speaker 5: and most important question because if your investing goal is
• 25:05
  Speaker 5: like ten, fifteen, twenty, thirty years retirement. Maybe you're building wealth.
• 25:11
  Speaker 5: Maybe you're trying to build into generational wealth. So then
• 25:14
  Speaker 5: what the market does this week, this month, even this
• 25:16
  Speaker 5: year is kind of largely irrelevant right now. Yeah, it
• 25:20
  Speaker 5: doesn't matter what's happening today because you don't need it today.
• 25:24
  Speaker 5: And the market has recovered every single downturn in history.
• 25:29
  Speaker 5: Let's remember that, and it generally takes far less time
• 25:33
  Speaker 5: than people expect. Yeah, because you know what, we're really
• 25:35
  Speaker 5: good at spiraling. Yeah, then going to bed and having
• 25:39
  Speaker 5: a good sleep and then wake up in the morning
• 25:41
  Speaker 5: and be like, oh, that was probably a little bit dramatic,
• 25:42
  Speaker 5: wasn't it.
• 25:44
  Speaker 3: We're all good at it.
• 25:45
  Speaker 4: Yeah, And I remember there there was this thing not
• 25:48
  Speaker 4: longer where the market was down. Yeah, it went back
• 25:51
  Speaker 4: to normal literally in like three days, and.
• 25:53
  Speaker 5: Like this might be bigger than that, and it might
• 25:55
  Speaker 5: take longer. Yeah, but we've always recovered.
• 25:58
  Speaker 4: Yeah, yep, yep, yep.
• 26:00
  Speaker 3: Don't panic and don't rush and don't don't anything. Do
• 26:04
  Speaker 3: what Beck would do. Don't do anything, don't do.
• 26:07
  Speaker 4: Anything, just chill out, just have a little sit down,
• 26:11
  Speaker 4: have a break, have a kit cat. Yes, seriously, what
• 26:14
  Speaker 4: if your goal is shorter, like someone who's been saving
• 26:17
  Speaker 4: for a house deposit in the market. What's that kind
• 26:19
  Speaker 4: of situation?
• 26:20
  Speaker 5: Well, all, first things First, if you listened to my podcast,
• 26:23
  Speaker 5: what did we say about saving your house deposit in
• 26:25
  Speaker 5: the market that we said? We said that's not a
• 26:28
  Speaker 5: good idea, But also you do you boom, and that's
• 26:30
  Speaker 5: a really different conversation. So if you need the money
• 26:33
  Speaker 5: in maybe like one or two years, girl, it probably
• 26:36
  Speaker 5: shouldn't have been in the market.
• 26:38
  Speaker 3: I'm really sorry.
• 26:38
  Speaker 5: It shouldn't have been in the market, not because the
• 26:40
  Speaker 5: share market is bad, but because the market is a
• 26:43
  Speaker 5: long term wealth generation tool. For short term goals like
• 26:47
  Speaker 5: a house deposit or a big trip or anything that
• 26:49
  Speaker 5: you need access to or your emergency fund, you want stability,
• 26:54
  Speaker 5: and a high interest savings account was probably your best goal.
• 26:57
  Speaker 5: Maybe a term deposit, something that isn't going to be
• 26:59
  Speaker 5: down twenty percent right when you need to make an offer.
• 27:02
  Speaker 3: And also we'll do a whole episode on it.
• 27:05
  Speaker 5: But when the share market is down, when our interest
• 27:08
  Speaker 5: rates increase, you know what else increases, Beck, what the
• 27:11
  Speaker 5: interest on your savings account. So if you've got money
• 27:14
  Speaker 5: in a savings account right now and you're saying, oh
• 27:16
  Speaker 5: my gosh, the interest rates are going up.
• 27:18
  Speaker 3: I'm so stressed. Okay, well you're making a little bit
• 27:20
  Speaker 3: extra money as well. Yeah, that's a good deal. That's
• 27:23
  Speaker 3: a good deal.
• 27:24
  Speaker 2: God.
• 27:24
  Speaker 5: So it's also everything's so linked. Sometimes you just need
• 27:28
  Speaker 5: a big sister. Yeah, not like America. That's like me, yes,
• 27:31
  Speaker 5: it goes. Hey, here's what's best for you. You might
• 27:34
  Speaker 5: not like hearing it, but I promise I'm not that crazy.
• 27:37
  Speaker 3: That's so true, and I really appreciate you for it.
• 27:40
  Speaker 3: I appreciate that. Thank you, Beck, thank you.
• 27:42
  Speaker 4: Okay, So I shouldn't have money actually need soon sitting
• 27:44
  Speaker 4: in the share market at this present moment.
• 27:47
  Speaker 3: Absolutely not ideally.
• 27:49
  Speaker 5: I just I can't yell that from the rooftops enough
• 27:53
  Speaker 5: because that's going to scare you. That's going to mean
• 27:57
  Speaker 5: that when you pull the money out because you needed
• 27:59
  Speaker 5: it and it's down, give it a couple of years.
• 28:01
  Speaker 5: You're like, yeah, I invested in the share market that
• 28:03
  Speaker 5: one time, pull my money out and I actually lost money.
• 28:06
  Speaker 3: I don't think I'm going to do that again. Yeah,
• 28:09
  Speaker 3: and then you're not going to create the life you deserve.
• 28:12
  Speaker 5: True, and I want you to have the life you deserve,
• 28:15
  Speaker 5: like I genuinely care so much about everybody that I'm like.
• 28:18
  Speaker 3: Can you just can you just see what's good for you? Please?
• 28:21
  Speaker 5: What we want to do is match the tool to
• 28:23
  Speaker 5: the timeline. That is, it is the share market the
• 28:26
  Speaker 5: right tool for your timeline of buying a house next year?
• 28:30
  Speaker 1: Yeah? No, it is not.
• 28:32
  Speaker 5: No, And then question two will move on because I
• 28:35
  Speaker 5: could harp on about that forever. I really want you
• 28:38
  Speaker 5: to sit on this one. Am I actually losing money?
• 28:41
  Speaker 3: Beck? Or does it just look like I'm losing money? Mmm?
• 28:45
  Speaker 5: And how would we know exactly? That's a good point.
• 28:48
  Speaker 5: So when your portfolio goes down, that's what the market
• 28:51
  Speaker 5: calls an unrealized loss. Okay, it's unrealized.
• 28:55
  Speaker 3: I don't know yet. It didn't actually.
• 28:58
  Speaker 5: Lose anything paper loss. You didn't actually lose any cash.
• 29:02
  Speaker 5: It only becomes a real loss if you sell. It
• 29:06
  Speaker 5: only becomes a real loss if you crystallize your losses.
• 29:09
  Speaker 5: If you don't sell, what happens You still own every
• 29:13
  Speaker 5: single share that you owned yesterday.
• 29:15
  Speaker 3: They're just worth less. You've still got all of those units.
• 29:19
  Speaker 5: What's happened is the price has dropped, but the thing
• 29:22
  Speaker 5: that you owned hasn't gone anywhere.
• 29:24
  Speaker 3: It's like owning an antique. Yeah.
• 29:27
  Speaker 5: You might go into the antique shop and be like, hey,
• 29:29
  Speaker 5: I've got these very intricate clock I would like to
• 29:32
  Speaker 5: sell you. And the man goes give you fifty bucks
• 29:35
  Speaker 5: and you go, no, king, it is worth more than
• 29:37
  Speaker 5: fifty bucks. And then you take your clock home. You
• 29:40
  Speaker 5: didn't sell it to him. Then you went back in
• 29:42
  Speaker 5: a couple of weeks later and you go, you changed
• 29:44
  Speaker 5: your mind, what's my clockworth? And he goes, oh my goodness,
• 29:47
  Speaker 5: some people came in asking for clocks. It's worth one
• 29:50
  Speaker 5: hundred bucks and you go, great, well that's exactly what
• 29:52
  Speaker 5: I thought it was worth. Maybe I will sell Yes, yeah,
• 29:54
  Speaker 5: that's not going to sell it if it's not worth that, No, totally.
• 29:57
  Speaker 5: You wouldn't take less for something else. Why would you say,
• 30:00
  Speaker 5: let's few shares and sell them.
• 30:01
  Speaker 4: Yeah, yeah, that makes sense, And they're not going to
• 30:05
  Speaker 4: say they're not worthless.
• 30:06
  Speaker 3: They're worth less.
• 30:09
  Speaker 4: That's so not needed, but.
• 30:12
  Speaker 3: Also kind of funny.
• 30:14
  Speaker 5: Thank you.
• 30:14
  Speaker 3: You should be a comedian. So nothing actually has changed
• 30:17
  Speaker 3: unless you sell it. Let's just lock it in. It's
• 30:20
  Speaker 3: all just a concept before then. Yeah, it's just an idea,
• 30:22
  Speaker 3: just an idea house. They're just it. Would you take less?
• 30:25
  Speaker 5: You go no, because I'm a baller, I'm not taking less? Okay, easy,
• 30:29
  Speaker 5: Nothing has actually changed. So I also another analogy here.
• 30:33
  Speaker 5: I love property because I mean, we are Australian and
• 30:36
  Speaker 5: property is basically I don't know, would we call it.
• 30:39
  Speaker 3: A religion here? Yeah, you're great Australian. Dream back. Imagine
• 30:43
  Speaker 3: you bought a house and your neighbors sold.
• 30:46
  Speaker 5: They have got the same house because we're maybe in
• 30:48
  Speaker 5: a housing estate and all the houses the same, of course,
• 30:50
  Speaker 5: and they sold their house for less than you paid,
• 30:53
  Speaker 5: and be like, oh my god, does that mean you've
• 30:54
  Speaker 5: lost money?
• 30:55
  Speaker 3: Though?
• 30:56
  Speaker 5: No, no, you still own the house. Nothing about your
• 30:59
  Speaker 5: house has changed. The only way you would have lost
• 31:01
  Speaker 5: money is if you also sell for less. Yeah, but
• 31:04
  Speaker 5: you're not going to do that. And you wouldn't sell
• 31:07
  Speaker 5: your house in a panic because your neighbor got a
• 31:09
  Speaker 5: bad deal.
• 31:10
  Speaker 3: Yes, Like, oh on, that's they've got a bad deal.
• 31:13
  Speaker 3: I should run out and get a bad deal too.
• 31:15
  Speaker 4: Yeah, you like quickly get a bad deal now so
• 31:19
  Speaker 4: I don't get a worse deal later. Yeah, I'm thinking, yeah,
• 31:22
  Speaker 4: but like why would you do that?
• 31:25
  Speaker 3: Yeah?
• 31:25
  Speaker 6: Right?
• 31:26
  Speaker 3: Right, right?
• 31:26
  Speaker 5: Okay, did you even need to sell your house? Like no,
• 31:30
  Speaker 5: But that is essentially what people do when they sell
• 31:32
  Speaker 5: their investments in a downturn. They see other people getting
• 31:35
  Speaker 5: less and they're like, what they got less, I should
• 31:38
  Speaker 5: also get less.
• 31:39
  Speaker 3: Yeah, yeah, stop that, that's actually so.
• 31:42
  Speaker 5: Silly, silly, And then they sell at the lowest point
• 31:45
  Speaker 5: they lock in a loss, and then you know what
• 31:47
  Speaker 5: they do. They miss out on the recovery. Okay, and
• 31:51
  Speaker 5: I want you to get the recovery.
• 31:53
  Speaker 3: Yeah, and when do you say it like that?
• 31:54
  Speaker 4: It actually does sound so obvious, but in the moment,
• 31:57
  Speaker 4: the panic kind of takes over it and it feels
• 31:59
  Speaker 4: like you need to do something.
• 32:00
  Speaker 5: Yeah, exactly, and like that's honestly side note completely, that's
• 32:05
  Speaker 5: what marketing specialists lead into. Yeah, Like, this is why
• 32:09
  Speaker 5: sales work so well on us. This is why Black
• 32:12
  Speaker 5: Friday works, Cyber Monday works, boxing day sales, this is
• 32:16
  Speaker 5: why you panic buy during those periods of time. Same
• 32:19
  Speaker 5: thing's happening in the share market. It's so true, but
• 32:22
  Speaker 5: it's reverse engineered yep. So like they're trying to sell
• 32:25
  Speaker 5: you something and in the opposite way, you just don't
• 32:27
  Speaker 5: want to miss out, and that instinct to do something
• 32:31
  Speaker 5: is one of the most expensive instincts you will have
• 32:35
  Speaker 5: in investing, which I guess is a perfect lead into
• 32:38
  Speaker 5: question three, which is am I still investing?
• 32:42
  Speaker 3: Or have I stopped?
• 32:43
  Speaker 1: Okay?
• 32:43
  Speaker 3: Okay? And that is only if you need the money
• 32:46
  Speaker 3: right now? No or no?
• 32:47
  Speaker 5: But like, why aren't you investing consistently and regularly over
• 32:51
  Speaker 5: time to put yourself in a better position? And this
• 32:54
  Speaker 5: is where I see people make a very costly mistake,
• 32:56
  Speaker 5: because remember, when the share market is down, it's on sale.
• 33:02
  Speaker 5: Why aren't you buying your groceries on sale? If they're
• 33:04
  Speaker 5: right in front of you? Why are you waiting for
• 33:06
  Speaker 5: them to be more expensive again? Yeah, like if past
• 33:10
  Speaker 5: is fifty percent off, sorry, I might get two. People
• 33:14
  Speaker 5: stop because they want to wait until things settle down.
• 33:18
  Speaker 5: And I completely understand that logic, I really really do.
• 33:21
  Speaker 5: It feels like the responsible thing to do. But when
• 33:24
  Speaker 5: prices are down, your regular contributions actually buy you more
• 33:27
  Speaker 5: in the market.
• 33:28
  Speaker 6: Yeah.
• 33:28
  Speaker 5: So if usually you put money in and the market's
• 33:31
  Speaker 5: pretty consistent, usually get ten shares market's gone down, Well,
• 33:34
  Speaker 5: maybe this week you're getting twelve.
• 33:36
  Speaker 2: Yes?
• 33:36
  Speaker 3: Is that not a good deal? I love free staff? Yes, seriously,
• 33:40
  Speaker 3: I always panicked by in a down turn. Is that
• 33:44
  Speaker 3: the right word? Yeah?
• 33:47
  Speaker 5: Look at that exactly more shares, more units for the
• 33:49
  Speaker 5: same amount of money. And this is what we call
• 33:52
  Speaker 5: dollar cost averaging. And I tell everybody dollar cost averaging
• 33:56
  Speaker 5: is going to save your butt because it is the
• 33:58
  Speaker 5: single most powerful an investor or, a regular investor can do,
• 34:03
  Speaker 5: and it works the hardest when the market is down. Yeah,
• 34:06
  Speaker 5: and it offsets all of the ups that you've purchased.
• 34:09
  Speaker 5: So stopping now means actually you're stopping yourself from buying
• 34:12
  Speaker 5: it at the cheapest possible point. And then when you
• 34:15
  Speaker 5: feel safe enough to start again, usually the market has
• 34:18
  Speaker 5: recovered and that's already happened, and you're buying high prices
• 34:22
  Speaker 5: and you did the complete opposite of what you actually
• 34:24
  Speaker 5: want to do, and then you missed out.
• 34:26
  Speaker 4: Yeah, okay, it's like waiting for the sale to end
• 34:28
  Speaker 4: before you are shopping.
• 34:30
  Speaker 3: Genius.
• 34:31
  Speaker 5: Genius, And I think that is a perfect analogy. The
• 34:33
  Speaker 5: sale is on right now, so keep going. All right,
• 34:36
  Speaker 5: We're going to take a really quick break, but stay
• 34:38
  Speaker 5: with us because when we come back, we are going
• 34:40
  Speaker 5: to get into superannuation specifically, and why the most well
• 34:43
  Speaker 5: meaning thing you might be tempted to do with your
• 34:45
  Speaker 5: super right now could actually be the most expensive decision
• 34:48
  Speaker 5: you ever ever make. Don't go anywhere, all right, Beck,
• 34:55
  Speaker 5: we are back and we're not waiting for the sale.
• 34:58
  Speaker 3: To end before we go shopping. M hmm, but like
• 35:00
  Speaker 3: that made sense. I was like, okay, genius.
• 35:03
  Speaker 5: Before the break, we're having a chat about what's actually
• 35:05
  Speaker 5: driving global market volatility and how it flows into Australia.
• 35:09
  Speaker 5: And then the three questions that I want you to
• 35:11
  Speaker 5: ask yourself before you touch your investments, and they were
• 35:14
  Speaker 5: when do I need the money? Am I actually losing
• 35:17
  Speaker 5: anything at all? And am I still investing? And Beck,
• 35:21
  Speaker 5: you touched on superannuation before, I mean I did too.
• 35:24
  Speaker 5: I called it really sexy. I remember that that was
• 35:27
  Speaker 5: a good day. Yeah, today this is very sexy. And
• 35:31
  Speaker 5: I want to talk about super a little bit more
• 35:32
  Speaker 5: because so many people are like, oh, do I change
• 35:34
  Speaker 5: my portfolio to conservative?
• 35:36
  Speaker 3: Sure, like maybe because.
• 35:39
  Speaker 5: It might be in line with your goals and your
• 35:40
  Speaker 5: values and your risk profile. But if you're in a
• 35:43
  Speaker 5: high risk profile and then you're like, oh, do I
• 35:46
  Speaker 5: change it right now because the market's different.
• 35:48
  Speaker 3: I think we need to have a little bit of
• 35:50
  Speaker 3: a chat with ourselves.
• 35:51
  Speaker 5: Okay, just need to have a little chat because this
• 35:54
  Speaker 5: is where I'm saying the most anxiety right now, because
• 35:57
  Speaker 5: I would say that it's arguably the biggest asset people
• 35:59
  Speaker 5: our age, and I think it's because the numbers are bigger,
• 36:04
  Speaker 5: and that makes the drops and the ebbs and the
• 36:06
  Speaker 5: flows feel a little bit more scary, and super feels
• 36:10
  Speaker 5: like it's both I don't know, really far away and
• 36:13
  Speaker 5: completely out of your control at the same time, which
• 36:16
  Speaker 5: is very uncomfortable. Like everything, that's a good combination. No,
• 36:20
  Speaker 5: I don't like when things feel far away and they
• 36:22
  Speaker 5: also aren't in my control.
• 36:24
  Speaker 3: Yeah, I know.
• 36:25
  Speaker 5: And arguably as much as superannuation is very sexy, that's
• 36:29
  Speaker 5: not No, it's not ideal.
• 36:31
  Speaker 3: I've had a new friends say that they're thinking about
• 36:33
  Speaker 3: like the gold conservatives kind of like switching over to
• 36:37
  Speaker 3: like things that are more just.
• 36:41
  Speaker 4: Weeks and it has taken me a little bit too
• 36:44
  Speaker 4: long to figure out what's going on in the world.
• 36:46
  Speaker 4: So I'm glad we're doing.
• 36:47
  Speaker 5: And I'm getting six million dms about it as well,
• 36:50
  Speaker 5: because switching your superannuation to conservative after a market drop
• 36:54
  Speaker 5: is one of the most financially damaging things you can
• 36:56
  Speaker 5: arguably do and I really need I don't know.
• 37:00
  Speaker 3: I need to talk you out of it.
• 37:01
  Speaker 5: Okay, I can't give you financial advice, but we are
• 37:04
  Speaker 5: not making decisions based on anxiety. I can talk you
• 37:07
  Speaker 5: out of that. I mean, if it's aligned to your
• 37:09
  Speaker 5: goals and your risk profile, pop off, queen, Please make
• 37:12
  Speaker 5: the changes that are aligned to your values, but don't
• 37:16
  Speaker 5: make decisions because you're anxious.
• 37:18
  Speaker 4: Yes, okay, So I understand why it feels like you're
• 37:21
  Speaker 4: protecting yourself.
• 37:22
  Speaker 3: Why would you not protect yourself? Protect yourself?
• 37:25
  Speaker 5: Oh cause I do not just live on the edge. No, No,
• 37:28
  Speaker 5: that's so Truely, it does feel like you're protecting yourself.
• 37:30
  Speaker 5: But what is actually happening. So when you switch to
• 37:34
  Speaker 5: conservative after a market drop, you're selling your assets in super.
• 37:40
  Speaker 5: You're selling your assets in super so same thing as
• 37:42
  Speaker 5: your ETFs When we said, oh, do you want to
• 37:45
  Speaker 5: sell it for less and beck you said no. When
• 37:47
  Speaker 5: you sell out of growth assets, your shares are at
• 37:50
  Speaker 5: their lowest point and then this gets moved to conservative,
• 37:54
  Speaker 5: which is mostly cash and bonds while the market recovers.
• 37:58
  Speaker 5: So you're not making the most of dollar cost. You're
• 38:00
  Speaker 5: not making the most of the fact that the market
• 38:02
  Speaker 5: ebbs and flows and when it does recover, which it
• 38:05
  Speaker 5: will because historically, girl, it has always recovered.
• 38:11
  Speaker 3: You have locked in your losses and you missed out
• 38:12
  Speaker 3: on the rebound. Yeah, so true.
• 38:15
  Speaker 6: And you know what people want to be back Michael Jordan.
• 38:19
  Speaker 6: Oh no, they want to be the rebound.
• 38:22
  Speaker 4: They want to be the rebound.
• 38:23
  Speaker 6: That they want to be the rebound because being the
• 38:25
  Speaker 6: rebound it was kind of fun, isn't it that It
• 38:27
  Speaker 6: is actually kind of fun.
• 38:28
  Speaker 3: It was kind of fun. It's kind of fun, but
• 38:29
  Speaker 3: also sad.
• 38:31
  Speaker 4: So sad okay, So that's it actually is genuinely devastating
• 38:35
  Speaker 4: when you think about it. I would like people to like,
• 38:37
  Speaker 4: if you're ye taking the loss, moving all your money
• 38:41
  Speaker 4: to a place where it's not going to like take
• 38:43
  Speaker 4: off again, because it's kind of conservative as.
• 38:45
  Speaker 3: Than ideal lesson.
• 38:46
  Speaker 4: It's just like it's like, hey, don't do this to yourself.
• 38:49
  Speaker 1: You know.
• 38:50
  Speaker 5: Yeah, not great. So you kind of are all the
• 38:53
  Speaker 5: bad and none of the good. And we saw this
• 38:55
  Speaker 5: during COVID in early twenty twenty. Markets dropped, people panicked,
• 38:59
  Speaker 5: they and within months what happened It rebounded. Yeah, and
• 39:04
  Speaker 5: everybody wants to be the rebound. Beck yeah, I mean,
• 39:08
  Speaker 5: you might not want to be the rebound for genuine reasons.
• 39:11
  Speaker 5: Just bear with us is a good example. And the
• 39:14
  Speaker 5: people that stayed the course, what were they, basically find
• 39:17
  Speaker 5: beck The people who switched and locked their losses in
• 39:20
  Speaker 5: missed out on the entire recovery, and by the time
• 39:22
  Speaker 5: they felt safe enough to switch back to growth, well,
• 39:25
  Speaker 5: they'd already had that recover without.
• 39:27
  Speaker 3: Them, and they didn't make any money. That's also devastating
• 39:30
  Speaker 3: when you think about it, you know, yeah.
• 39:31
  Speaker 5: Not ideal, and it happens every single time there's a downturn.
• 39:35
  Speaker 5: People freak out, people sell same patent, same outcome. So
• 39:40
  Speaker 5: what should people do about their SUPER right now? Honestly, yes,
• 39:43
  Speaker 5: please stop logging in. Probably nothing for most people, Like
• 39:47
  Speaker 5: that's the answer. If you were in the right option
• 39:50
  Speaker 5: for your age and your risk tolerance before you started,
• 39:53
  Speaker 5: you're probably still in the right option, my friend, So
• 39:56
  Speaker 5: stay the course.
• 39:57
  Speaker 3: Now.
• 39:58
  Speaker 5: There is one scenario where reviewing you super does make sense,
• 40:01
  Speaker 5: because as I said, I'm not going to tell you
• 40:03
  Speaker 5: not to change if it makes sense for you, and
• 40:05
  Speaker 5: that's if your SUPER isn't quite right for your life
• 40:09
  Speaker 5: stage to begin with. And this moment is kind of
• 40:11
  Speaker 5: prompting you to have a proper look at it. And
• 40:13
  Speaker 5: I would say, if you're in your like early sixties,
• 40:16
  Speaker 5: and you're retiring in the next two to three years,
• 40:18
  Speaker 5: then yeah, maybe you could talk about a more conservative
• 40:21
  Speaker 5: option and that might be appropriate for you, but that
• 40:24
  Speaker 5: decision needs to be made really calmly. If you call
• 40:27
  Speaker 5: your super company, they can have a chat with you
• 40:30
  Speaker 5: for free about your specific circumstance because they have financial
• 40:33
  Speaker 5: advisors on their team, or book in with a proper
• 40:37
  Speaker 5: financial advisor who knows your full picture. Just don't be reactionary,
• 40:41
  Speaker 5: if that makes sense, Yes, absolutely so.
• 40:43
  Speaker 4: Don't touch it unless no touchy, You're actually talking to
• 40:46
  Speaker 4: someone who knows you're full to do it exactly.
• 40:48
  Speaker 5: No touchy unless you've reviewed it properly and you know
• 40:50
  Speaker 5: that that's right for you. Okay, all right, all right,
• 40:53
  Speaker 5: all right, Now we're going to wrap this up because
• 40:55
  Speaker 5: I feel like I could yap about this forever I did.
• 40:57
  Speaker 5: Do you know we're getting close to one thousand episodes
• 40:59
  Speaker 5: of the show. Wow, it's going to happen in July. Anyway,
• 41:03
  Speaker 5: I want to give you something really practical to walk
• 41:05
  Speaker 5: away with. So here's your action plan. Okay, don't do anything.
• 41:09
  Speaker 4: That's gorgeous gorgeous advice.
• 41:11
  Speaker 3: You're welcome.
• 41:12
  Speaker 5: But also I did write a few dot points that
• 41:14
  Speaker 5: I actually think could be your action plan or your homework.
• 41:16
  Speaker 5: So first things first, stop checking your portfolio every day,
• 41:19
  Speaker 5: just giving you anxiety. The more you check, the more
• 41:21
  Speaker 5: you probably want to react, and that's obviously not in
• 41:24
  Speaker 5: line with the values that you have. If not, change
• 41:28
  Speaker 5: pop off, queen. And we've always talked about why being
• 41:31
  Speaker 5: reactive is almost always the most expensive option, Like check
• 41:34
  Speaker 5: it quarterly, like cheisas aren't going to love me for this,
• 41:37
  Speaker 5: But if you need to delete the app, don't like
• 41:40
  Speaker 5: sell out, but delete the app for a little bit
• 41:42
  Speaker 5: so that you stop checking it and giving yourself anxiety. Yeah,
• 41:45
  Speaker 5: maybe use it from the desktop for a little while.
• 41:47
  Speaker 4: Move the app of the home screen if you need.
• 41:49
  Speaker 5: Yeah, like sometimes we just out of mind is kind
• 41:52
  Speaker 5: of helpful in these situations.
• 41:54
  Speaker 3: Yeah, that's a legitimate investment strategy.
• 41:57
  Speaker 5: Like you don't have to be like, oh, I'm just anxious, Queen,
• 42:00
  Speaker 5: You've got a buy and hold strategy. We can reframe anything.
• 42:05
  Speaker 5: A Lulu friend who will reframe anything. And then the
• 42:08
  Speaker 5: second thing, we're going to keep investing. So whatever you
• 42:11
  Speaker 5: were doing before, keep doing that.
• 42:12
  Speaker 3: That's great.
• 42:13
  Speaker 5: If you can set up auto invest maybe do that,
• 42:15
  Speaker 5: because again, out of sight, out of mind, remove the
• 42:18
  Speaker 5: decision from your hands so that we're not emotional. Yep,
• 42:21
  Speaker 5: because when we're making emotional decisions, what do we do,
• 42:23
  Speaker 5: beck silly silly thing. We become Britney spears and we
• 42:26
  Speaker 5: shave our heads. And that is arguably a terrible idea.
• 42:30
  Speaker 4: I yes, and for context everyone, I was just about
• 42:33
  Speaker 4: shave my head before I started this episode and I
• 42:34
  Speaker 4: didn't thanks to VD you.
• 42:36
  Speaker 5: Welcome, Welcome, And if you're genuinely unsure about your specific
• 42:41
  Speaker 5: setup and whether it is right for you, so you're like, oh, V,
• 42:43
  Speaker 5: I don't actually know about my asset allocation and you
• 42:46
  Speaker 5: know you just talking about this is stressing me out
• 42:48
  Speaker 5: a little bit, or I actually don't know what my
• 42:50
  Speaker 5: super option is, or you don't know if the mix
• 42:53
  Speaker 5: of investments that you've picked is right for you. Honestly,
• 42:56
  Speaker 5: start deep diving into it now. Because education is the
• 42:58
  Speaker 5: best thing that you can do. I can match you
• 43:00
  Speaker 5: with a financial advisor. If you're stressed about it, just
• 43:03
  Speaker 5: head to our website. That sounds like a plug. It
• 43:06
  Speaker 5: actually is a plug because I've got a financial advisor
• 43:08
  Speaker 5: and mortgage broking matching.
• 43:10
  Speaker 3: Tool on our website. Is it a tool if it's
• 43:12
  Speaker 3: just like you fill in a form and it gets
• 43:14
  Speaker 3: sent to me, I think that's a tool or a form. Yeah,
• 43:18
  Speaker 3: but it's a form. It's a tool, it's a form.
• 43:20
  Speaker 4: It's whatever you want it to be.
• 43:22
  Speaker 5: But what happens is it gets sent to me, and
• 43:23
  Speaker 5: then I read your situation and then I reply to
• 43:26
  Speaker 5: you and say, hey, Beck, the best financial advisor I
• 43:28
  Speaker 5: think is X for this situation. And then you get
• 43:30
  Speaker 5: a good recommendation from a friend that you trust. Perfect
• 43:33
  Speaker 5: Child says the best way to get a recommendation for
• 43:35
  Speaker 5: a financial advisor? Oh absolutely, anyway, then you might feel
• 43:39
  Speaker 5: like you're in better hands or on better track.
• 43:41
  Speaker 4: Okay, okay, and the other any options if you can't
• 43:43
  Speaker 4: afford a full advisor session totally.
• 43:47
  Speaker 5: Your super fund has free financial advisors, true, and I
• 43:51
  Speaker 5: mean they're not free because you're paying super fund fees.
• 43:53
  Speaker 5: But they're non consensual true true, so you can to
• 43:56
  Speaker 5: pay them, so call your super funder and have a
• 43:58
  Speaker 5: chat with them. Also, we have a whole website, Beck
• 44:01
  Speaker 5: with free budgets and tools and resources that you can
• 44:05
  Speaker 5: just go download. That's a nice you can just go
• 44:07
  Speaker 5: download it and put yourself in a better financial situation.
• 44:10
  Speaker 3: Yep.
• 44:10
  Speaker 5: And then right now what I would be doing is
• 44:14
  Speaker 5: making sure that you've got a good, juicy emergency fund,
• 44:17
  Speaker 5: because at the end of the day, that is always
• 44:20
  Speaker 5: the place that is going to make you feel the
• 44:22
  Speaker 5: most secure, having some cash that you can fall back
• 44:25
  Speaker 5: on during a period of uncertainty, whether that is, you know,
• 44:28
  Speaker 5: three hundred dollars or three hundred thousand dollars.
• 44:32
  Speaker 3: I actually don't mind. Whatever makes you feel comfortable.
• 44:35
  Speaker 5: And I actually got someone to reply to my Instagram
• 44:37
  Speaker 5: the other day because I was like, oh my god, like,
• 44:39
  Speaker 5: even if you've got an extra fifty bucks, like put
• 44:42
  Speaker 5: that in your emergency fund. And they were like, Victoria,
• 44:45
  Speaker 5: you can't even pay for all your groceries with fifty bucks.
• 44:47
  Speaker 5: Like what's the point, girl, would you prefer to have
• 44:50
  Speaker 5: fifty bucks when you have no money or no money?
• 44:52
  Speaker 6: Oh?
• 44:53
  Speaker 4: My god, totally that fifty bucks you could make that stretch.
• 44:56
  Speaker 4: So it is good to have exactly.
• 44:58
  Speaker 5: Yeah, So you don't have to sell anything, and let's
• 45:02
  Speaker 5: just be quite conservative with our decision making.
• 45:04
  Speaker 3: Mm hmmmm.
• 45:05
  Speaker 4: I always feel very motivated after these chats about going
• 45:08
  Speaker 4: doing something about my emergency fund, and I love that.
• 45:11
  Speaker 4: So I'm gonna go put twenty dollars in at end.
• 45:14
  Speaker 4: That will bring me up to twenty dollars.
• 45:15
  Speaker 3: But hey, that is good exactly.
• 45:18
  Speaker 5: And I feel like so many of us, especially right now,
• 45:20
  Speaker 5: feel like, oh, we're not doing enough with our money,
• 45:22
  Speaker 5: or like that's not going to be worth it.
• 45:24
  Speaker 3: But like girl, even having a couple of dollars set aside, totally,
• 45:27
  Speaker 3: that's a very good position to be in.
• 45:29
  Speaker 5: And I hope that now everyone's obviously hung out with
• 45:32
  Speaker 5: us until the end of this episode.
• 45:33
  Speaker 3: Thanks queens, Thank you. I hope you're feeling a little
• 45:35
  Speaker 3: bit calmer.
• 45:36
  Speaker 5: Please share it this episode with someone that you think
• 45:38
  Speaker 5: also needs to hear it, because I promise you there
• 45:40
  Speaker 5: are a lot of people right now who need to
• 45:43
  Speaker 5: hear it.
• 45:43
  Speaker 3: And if you haven't left, it's a rating aurror of you.
• 45:46
  Speaker 3: Beck can I our egos need it.
• 45:49
  Speaker 5: You need to feed our egos, so it genuinely helps
• 45:52
  Speaker 5: our show as well, but mainly our egos mainly.
• 45:55
  Speaker 3: Anyway, have a good week. We'll see you on Friday. Bye, guys.
• 46:03
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