She's On The Money - Investing Diaries: ASX and the City

Starting point is 00:00:00 My name is Natasha Bamblett, I'm a proud First Nations woman, and I'm here to acknowledge country. Tii, gilinyan ganya, nianakaka yao yinbina waka, nianakai nianbina yakarumja, duminyagumiga dumiga ithawaka nirawamundamun imalan. Mumu bangada boma ininyalan waka, gaunan yakarumja, wutunarana. Hello beautiful friends. We gather on the lands of the Aboriginal people. We thank, acknowledge and respect the Aboriginal people's land that we're gathering on today. Take pleasure in all the land and respect all that you see. She's On The Money podcast acknowledges culture, country, community and connections,

Starting point is 00:00:41 bringing you the tools, knowledge and resources for you to thrive. She's on the money. She's on the money. Hello and welcome to She's On The Money, the podcast that lets you be pervy about other people's money habits, educational purposes, of course. Welcome back to another one of our money diaries brought to you by Sky Wealth, where we get to talk with one of our incredible She's On The Money community members all about their journey. This week, it's investing centric. So let's jump straight into it because I got a

Starting point is 00:01:12 message this week and it sounded exactly like this. Hi, She's On The Money. I actually first learnt about investing from my mum, Slay, because when we lived on a farm, she started an investing club with her friends for the social aspect. Inspired by her, I got a group of my friends together and have done the same thing. It's a monthly investing club called ASX in the City that mixes market chat and girls' dinner. Each month, we contribute to a shared account, research companies, and invest together. We've gone from what is a PE ratio to confident, collaborative investors. We invite guest speakers to come along and share their wisdom with us as well. We're still learning, but we're almost three years in with over $20,000 collectively invested.

Starting point is 00:01:59 Um, what the hell? Why haven't you been invited to this? Money Darius, welcome to the show, but also rude. You can come on anytime. Can I? I'm coming. I'll do whatever. I just want to be involved. Like, I don't mind. Can I please come play with you and your friends? Because we sound like we're on the same page like this is the coolest thing ever and sorry growing up with a mum who's like just have my own little investing club like be for real what an icon she was I didn't actually realize it at the time but she'd you know say that she has her ones called women in black yeah although they've definitely been in the red but um I have women in black coming over and I just grew up with that but not really understanding what it meant or you know thinking that I'd have

Starting point is 00:02:40 my own and down the track so it was quite inspiring and so they've been going women in black have been going for 26 years stop so she founded that with 20 other women in 1999 20 other women yeah what an icon she's the original she's on the money yes she actually trademarked it yeah well I mean I did that so unlucky for your mum because I know I own that but I'll share it with her happily like I'll let her have a turn and I won't come for her if she use as my terminology because she's honestly the original icon. Can we talk more about that though? Can we like go back before we jump into your investing journey? Can you tell me a bit more about what your money story looked like before you started investing and what was your attitude

Starting point is 00:03:22 towards investing? Or was it just like, well, clearly we do it. Mum has these meetings and that's a thing. Like what did that look like growing up? Going back even further, I think Women in Black started and mum started that with her friends because they were all on the land. So as you said, I grew up on a farm. Whilst they all live on farms, they're from very different backgrounds. So teachers, physios, even a firefighter in there. Yeah, because we can do everything. To get a bit of pocket money and separate income from the land and to just learn about investing. That was their main aim. They started this and the social aspect was huge. So they've supported each other through motherhood, droughts, floods, fires, mouse plagues like that's

Starting point is 00:04:05 just been a bonus of it all but they they've just learned so much along the way and have done so well out of it and so that sort of was a bit of an idea in my head but I didn't understand it all until a lot later in life. And was that because you kind of joined in on your mum's sessions or was that like self-motivated like how did you go from you know kind of being a passive bystander to this where you were like I don't really understand what was going on but my mum was clearly into it to being an active investor yourself so I was living overseas came back and did a master's in sustainability and whilst I didn't think this was the route I would take I fell into investor relations you just fell in it's like PR for small cap mining stocks but in

Starting point is 00:04:51 future facing metals so lithium and copper and there was biotech in there yeah but that's I guess piqued my interest in investing and you know the whole sort of financial sphere and then that got me thinking I wonder if I can start something similar to my mum's group. Yeah that's very cool can you tell me a bit more about how you trip and fall into investor relations or was it because you were like marketing and PR focused and then that was kind of like a marketing and PR role I'm just trying to work out how you end up there because that's quite a specific niche. It was actually down the sustainability route. It was a friend of a friend who has their own investor relations company and she wanted to push ahead in this sort of green transition. And I was fortunate enough to

Starting point is 00:05:39 be able to just spin sort of sustainability into stocks and how they can be progressive, they can be green despite being mining stocks and sort of dirty originally but yes that's how I got into it. So tell me about the segue from working in investor relations I feel like you would have learned a lot there obviously about what you were talking about but also about starting your own investing journey how does that progress into hey I now have a group called ASX in the city I don't know when the actual catalyst actually happened. I, I think maybe it was listening to mom. Maybe it was having, I did have a small portfolio myself. It was just, there was one moment and I sent out a message to a couple of WhatsApp groups. And I think what separated the

Starting point is 00:06:31 wheat from the chaff, so to speak, was the fact that whilst it is fun and we are there to learn, we started out with a grand buy-in and then it's $50 per month. And that's also mimicked of women in black. You know, we have an agenda, we have a partnership, we have, you know, we take minutes, we have to do a tax return every year. Like, and it was not easy. Let me tell you. No, I'm like going, hold on, hold on. This has gone beyond like chucking 50 bucks into the kitty and calling it even. I was about to be like, what happens? Like if, you know, it all goes south, but this this is a legitimate organization she's organized investing not crime I like it but tell me how does it go from going I love some friends to invest with to how about we set up a full ABN

Starting point is 00:07:18 and take minutes and do a tax return that's crazy I love it yeah it's it's full mimicking women in black like you know I'm just so grateful that I did have my mum and that she's so interested and keen to share all that information and never did she think that you know she'd be sharing it advice and writing her story to me to then, you know, speak to you about this. It was all a big working process. Like for us to even open a bank account, the ComSec, everything was not, it wasn't that easy, but it's definitely worth it. Like it's, you know, short-term pain for long-term gain for sure. 100%. And so what's the long-term plan for this? Because I feel like a lot of people might start like a little investing club to get some education but this goes beyond just education

Starting point is 00:08:04 like you're all bought in what's the plan with the fund we've never actually sat down and thought okay what where are we headed but we our strategy is long-term investments and basically just to learn you know where it's social as well we're all spread out over the world now like although we started in sydney people have moved to london and melbourne and amsterdam and it's so you know it's a good way to catch up, but also learn. And our knowledge, you know, since starting in May 2023 has just grown exponentially. You know, there's times where we were saying EFTs. Whatever. Semantics. I'm genuinely envious. Like I'm like, wait, sorry, like maybe I'll pitch this to my friends. Maybe I'll make new friends so that my friends don't think I'm weird about this. But

Starting point is 00:08:50 I just think that that is so, so cool. What do you hold? Like if we break down what's in the fund, you said it's based on CompSec. Great. How are we making decisions about what to buy or what to invest in? Good question. So we have 10 stocks and a very broad range of them. We're actually quite retail heavy possibly for some for some reason we starting out so we have a spreadsheet and you update the spreadsheet with any stocks that you want to put forward in a meeting and then we reassess in the meeting you know what's out where are we at at the moment do we want to sell anything do we want to reinvest in one that we've currently got do we want to invest in a new stock and so yeah it's quite a broad portfolio ranging from west farmers we've got

Starting point is 00:09:43 Catapult, which specialises in performance analytics for athletes, which has done quite well recently. We've got Sonic Healthcare, Woolworths, Pilbara Minerals, VanEck Sustainable ETF, VAS, so Vanguard, Monash IVF, which we thought might be a good buy when there was all that media. I was about to say, did you buy that recently when the media popped off? We did. And that's what's so good is like we learn, you know, we've now all got an ear to the ground on what's happening where, you know, our long-term strategy was 80% core stocks or just long-term investments and then 20% play money. So how can we learn with our stocks and with what's going on in macro events and macro news? That is actually so exciting. So I understand

Starting point is 00:10:27 that you've replicated like your mum's structure, right? But why would we do a group investment as opposed to taking all this knowledge and then making decisions about our own portfolio? Because like you said before, and I'm just like trying to put the dots together. I suppose you said you had your own investing portfolio before this, and then you started this and you're investing $50 a month, which is really exciting. Initial buy-in of a thousand dollars each. Amazing. But I would assume that if you guys are aggressive investors, maybe this is the fun part and you all have your own bigger portfolios. Is that an assumption that is on track? Possibly. Some might be bigger than others. I realized I have not given my own portfolio much love at all recently. Like there's

Starting point is 00:11:08 something sitting in there that definitely needs to go. And this is recurrent. We all came from different learning platforms and we're all from different backgrounds and jobs and our partners are in different roles and different companies. So we're very broad. I think the reason why it works is because we've got the same curiosity. We're all at the same mind frame that we're not a hundred percent sure what we're doing, but if we do it as a group, if we do it as a pack, we kind of have that pack mentality and we have that confidence. Yeah, that's so fun. And if it's not going well, you can all like hype each other up and be like, that's the market. Don't worry about it. Like, oh, I'm so envious. I think that this is so fun. Can I go back? Cause you did

Starting point is 00:11:49 mention you had your own investing portfolio. When did you start that? Why did you start investing solo? I think it was again, my mom, like she helped me put my first. Can I get your mom on the podcast I want to meet her yeah she should probably be here but again she it was polynovo this like biodegradable gauze that you put on burns and wounds yeah and that's gone terribly recently and I invested and then by the time I'd walked from the office to the kitchen it had gone up $50 and you kind of or whatever it was I don't know what it was yeah yeah and then you kind of get that little high and yeah I guess it was from then onwards yeah then you see it growing or you can have conversations with other people about it like that's a big thing

Starting point is 00:12:29 as well is a lot of our partners worked in finance or work in different industries and there are sometimes some blocks or some scary scary moments in technical terms but we're all able to have a seat at the table now whereas I don't think we may have without the confidence of learning over the past few years. Yeah and you mentioned my own investing platform has taken a bit of a backseat. What does that look like? Are you talking, you've got $500 invested, like what amount invested do you have personally? Well, I actually was quite surprised. I've got 15K, but that's only recently we've, my husband and I've started doing dollar cost averaging for a stock. Icon. What stock? You can't say a stock. This is, she's on the money. I get to know what

Starting point is 00:13:14 stock. Why? Well, okay. It's a charitable rate. You're like, well, okay, but don't judge me. that I didn't even know what dollar cost averaging was, but then he explained it and I'm actually going on maternity leave next year. So it's just sort of future-proofing and giving us an opportunity to maybe store some cash and get some cash back when necessary. So when it comes to dollar cost averaging, you mentioned a real estate fund, which is a relatively high yield fund. Is the purpose of investing in that to kind of carry you through maternity leave or like how does that fit together? Or are you just very aware that taking time out of your job obviously has a big financial impact? Like I just want to know the drivers. Probably

Starting point is 00:13:58 the latter. It does, you know, I will have a big financial drop. This is putting aside rather than investing, say, I don't know, we haven't actually discussed how much we're doing this for, but every week I put a grand on. But, you know, rather than investing 10k at one time, it's just safeguarding and making sure that we get a good investment and then if we do need to sell that 10k or whatever it is hopefully make some money on it next year if we do need to pull that so saving and growing all right i'm gonna throw to a really quick break and on the flip side i have so many more nitty-gritty questions about your investment journey so guys don't go anywhere all right investing diarist we are back and i'm genuinely so excited to jump back into this

Starting point is 00:14:45 If we go back to like your group portfolio, which I just think is the most fun ever, the idea that you're all just collaborating and making big group decisions about like what ETF or like what direct share that you purchase, what would you say is the share or the ETF that you've seen the best returns on? VAS. So the Vanguard, we've definitely seen the best returns on. I always find it so funny because I saw that coming a mile off when you told me what was in your portfolio and that you'd started in 2023.

Starting point is 00:15:12 I was like, yeah, it's going to be VAS. So boring. No, no, no. But like, this is, do you know what? This validates me so much. I have this whole finance podcast where I say tried and true and steady is the best. Like you're not trying to outperform the market. We're just trying to do the average. Women are better investors than men. Like let's just be conservative. And so many people are like, but you need to take risks to get ahead. And then I am so gratified when people come on and they're like, yeah, so the best performing thing is actually one of the most boring. And I'm like, whoa, didn't see that

Starting point is 00:15:44 coming that's a crazy it took us a while to get into etfs because we didn't actually want it to be too boring but at the same time like west farmers we need some good solid returns solid returns so this year we've made eight percent and that mimics the asx 200 but we've learned way more than if we just put it all on the asx 200 so yeah there's pros and cons and we've definitely like west farmers you know we were pulling up cash cow there's even little stories around that like one of the girls didn't really understand what a cash cow was but she just said moo every time west was brought up oh my god because she probably thought that the word cow was related to the farmer part probably there are so many even um when we first had our we like we

Starting point is 00:16:29 always talk about our christmas party just classic like you know kind of like your friends giving lunch like just girls and we had our first christmas party it was hosted at one of the girl's house and she got ASX balloons and we put it all up on social media and people thought we made a company and listed it on the stock exchange I don't mind that they thought you did that I love that I would have seen it and just been jealous what do you mean an ASX party are you saying that like maybe like I've already turned 30 so this is quite disappointing I might have to wait till like my 40th but it could be ASX themed great idea and you come as your favorite company yeah you come as your favorite stock yeah hate of atf i'm coming as west farmers cash cow moo this is

Starting point is 00:17:12 amazing um i've i've seen similar things happening i own west farmers and like it's gone really well and i'm not saying this to be like oh it's a great investment because like past performance is not a reliable indicator of future performance and all of that other stuff but like it's been so interesting watching it especially over like the covid period and coming out of it and what drives those returns and like because West Farmers and you guys are probably as interested in this as I am but what drives those returns because West Farmers doesn't it's not just like one company it owns multiple companies that's the parent company of like Target and Kmart and Officeworks and Bunnings and like getting to look at all of those companies and their returns and how they

Starting point is 00:17:52 then filter up to West Farmers and how they organize their company is just so interesting and you go what makes sense so interesting and that's what we also are best at is investing in stuff that we know like we also hold Woolies which you know West Farmers is kind of premium in terms it's got Kmart Woolies has Big W you know we've had conversations about that like who the hell goes to Big W these days like it's just such a subpar Kmart and so all our relative perspectives and views come into it and I think that also informs our strategy and how well we've done And lived experience is important. I want to pick back up on a comment you made before. You said we're really retail heavy. And sometimes when you are retail heavy, you've kind of like not diversified enough and spread it out. But I feel like if you've got a Woolies, well, West Farmers no longer has that association with Coles. You don't actually have a supermarket in that mix. So like that's not a bad mix to have. And then I feel like even under West Farmers, that's an umbrella company of very different companies. You look at Kmart, for example, and I go, wow, that's a very high volume, great profit

Starting point is 00:18:56 company, but they make very low margins. So if you read their annual report, they are not making much on each of the products that they're selling, but their entire model is based off volume selling. And so you go, great, no worries. But then you flip over and it's different again for Bunnings because Bunnings, they don't make their own product in comparison to Kmart, which own the Anko brand. And then you go, okay, well, Bunnings, they are on sellers. they're like a third party so it's like a different model again and I don't know I get so

Starting point is 00:19:25 nitty-gritty about like their annual reports and what that looks like and what the best-selling brands in Bunnings look like and you know what's driving that and it's just so pervy like it's like gossip but in shares so true there's so many different aspects to it you never not learn something you know and that's what every every time we come away from a meeting it's you're kind avoid by great chats interesting conversation relevant conversation and good food whoever hosts normally provides something really delicious puts on a good spread how good tell me do you have any investing regrets yes you know there's pros and cons to it because of regrets we've definitely learned from them we have got caught up in heights and trends but

Starting point is 00:20:08 they've been learning and so as one of the girls said even the mistakes have been good but we did The investments, I don't know how you say this, but Satir or Satire, the online luxury fashion retailers. So they went through a pretty hefty, like nearly $5 million loss due to, they said, tariff changes. And the CEO was a bit unusual and it was all over podcasts, but we definitely, it was just, we called it our problem child and it would just be in the news and it would just sort of peak and trough. But yeah, that was a good learning anyway. And that's why we diversify. So not all of your money was in there. So it can be the problem child because it doesn't mean that the whole portfolio is not performing. It just means we

Starting point is 00:20:48 need to watch the problem child. Exactly. And then, you know, at one point we thought, you know, Pilbara Minerals, our lithium was the problem child, but you know, that's come back. Obviously, you know, resources cyclical. So it's dependent on that, but it's just no matter what, if it's bad, it'll still have a good result in terms of, you know, what else we can get out of it. When it comes to sitting down and having these big conversations, you've obviously taken a lot of time and energy and effort to set this up properly. Have you got like a structured strategy or is this like a let's go and start investing in things that we believe in and like do research in or are you sitting down going, great, the base

Starting point is 00:21:31 strategy of this mentality is a core and satellite approach or is it a look, we're looking for high growth or we're looking for high yield? What are we talking about there? Because when it comes to, I guess, dividends, are we trying to prioritize dividends or are we prioritizing growth or like, what does that look like? So it's definitely core and satellite mentality and the fact that we are all of the same sort of nature and, you know, mentality again is beneficial here. So we've never sat down and said, oh, we're going to get to, you know, 200K and then sell out and break up or you know there's never been a sort of long-term strategy or plan our goal is to just keep investing not having it in the bank so if we you know where I think we've got 26k worth of stocks at the moment

Starting point is 00:22:20 worth of shares at the moment and then 4k in the bank and so we call it we say it's time to go shopping and we either decide to you know reinvest it in current stocks or go or put that towards a new stocks. So in terms of all our dividends, we agreed that they would be coming as income. So they go back into our cash account, all $77 of some of those dividends. Sorry, from little things, big things grow. Your mom started in 1999 and she's probably killing it now. Yes, you've only got only quote $26,000, but sorry, over time that's going to become a lot. And that's cool. And I want to know what the strategy is for that too. Cause I'm like, okay, so are we then just leaving that investment there and splitting the dividends at some point to supplement your

Starting point is 00:23:04 incomes or are we selling down? But if we sell down, we'd have capital gains tax. And obviously there's some conversation about whether it's owned by the company you've set up there for 30% tax rate, but then do you have to then pay tax on it as an individual if you take it out? Like, what's that look like? There's so many questions I have. So many questions. I think we'd follow, we're yet to properly formally discuss this, but. No, we're not selling out yet. We're too new. well yeah but if we were mimicking women in black my mom's one it would be they get to 200k and they have a sell-off and they all get a few k yeah they've never they never let their portfolio go below 100k for whatever reason probably should ask that but it's just yeah and in terms of then

Starting point is 00:23:44 the tax associated around that gosh i'm lucky enough to have way smarter girls in the group that understand this yeah 10 out of 10 so tell me what does it look like if your group has said all right it's time to go shopping. I'm imagining that you do these ASX in the city meetings on a rotating basis at different people's houses. Are we standing in front of our TV and doing a big PowerPoint presentation on what stock you think should be added? Because if not, we need to start doing that. Pitch me a stock. So we do have a spreadsheet that is updated prior to the meeting. So if you have something that you want to put forward, put it in. But we made a rule that we weren't going to all come at a certain, you know,

Starting point is 00:24:28 every meeting with a new stock because that just gets, you know, people get messy, people don't, they're not as passionate about it, they'll just chuck in whatever they just heard. But if we actually think about something, so we'll go through the spreadsheet, see if there are any new additions, old additions. One of the girls mentioned Breville right at the start and everyone was making coffees at home and it was, you know,

Starting point is 00:24:49 the economic cosily of issues and it would have been amazing. So we're always revisiting Breville. I'm actually very disappointed. I didn't invest in Breville for the longest time. I was like, no, like coffee at home. It's not my jam. I really want to go out. And now I'm in a committed relationship with my coffee machine. And I'm like, Breville, you and I besties. And all they do is get better. Stop it. So you did invest? No, I didn't. I invested in the bloody machine, not in the stock. And then once I had the machine, I was like, well, this is good. I see why everybody's crazy about it. This share is going to pop off for the longest time. And I've been watching it probably since it's on my watch list. So when I log into my

Starting point is 00:25:29 platform, I've got like the shares that I own and I too have a core satellite approach. And then I have my watch list of stuff that I'm like, no, it's probably overvalued, but I want to keep an eye on it because if it drops, I'll probably put some money into it for my satellite. But Breville's been doing too well. So I can't justify investing in it because I'm like, I look at your annual reports and I look at everything and like you're doing well so like yes I want to be on that train but I'm not getting any value if I purchased your share right now because you're popular so I would argue that you're slightly overvalued therefore as a savvy investor I'm not going to put my money in there until I see a market dip but I don't want them to experience a market dip because I'm like

Starting point is 00:26:07 but you're a good company so maybe I'll just never own Breville. We're in the exact same mentality it's actually a bit of a sore spot even one of our guest speakers recommended it again recently and we just all cringe a bit because it would have done well but you've got west farmers so it's fine but exactly that whole you know what invest in what you know like we all obviously have a love gold jewelry you know getting engaged that sort of thing and should really invest in that but god that would just gold is going up at the moment as well i'm watching that being like my goodness. I know, where's the top? Yeah, where's the top? And I, obviously it's a much more conservative assets, probably not going to come into the mix of what you guys are talking

Starting point is 00:26:48 about, but it's just so interesting watching these things going, oh, like this makes sense though. Because if we look at it from a zoomed out perspective, when share markets are uncertain, which I would say they are very uncertain at the moment, that doesn't mean they're performing not well. That just means there's not a lot of clarity around what's going on. And I mean, Trump is probably a really big driver of this, but when there is uncertainty in the market, people return to things like gold and buying silver, even silver's going through the roof. And I'm like, I didn't think that was making a comeback, but okay. Someone's buying it.

Starting point is 00:27:22 Someone's buying it. It's not me, but someone's buying it and I am watching. So tell me from a personal perspective, what would you say is your personal long-term goal with investing? Because you've touched on obviously having this fund share group and from the way that your mum runs hers, you kind of end up at a cap and then you sell down. Everyone gets a bit of pocket money, can do whatever they want with it. You're more on an education journey with that. You then have started dollar cost averaging into the market with your husband, but I feel like your priority was like, are we just making sure that we can get through the next year because I'm going to take maternity leave at some point? What's the long-term goal

Starting point is 00:27:58 with investing for you? Good question. Just to make as much as I can. Icon, same. I want to be rich. I've never actually sat down and thought, I want to get X amount. I want to get to here. I've just kind of fallen into wherever I've ended up, but it's hard because my husband and I have our own portfolios, but really everything else, like our bank account, everything's joined. So really we probably need to sit down and think about, okay, you know, how can we join these two? Or what are you going to invest in? What am I going to invest in? How are we going to make the most of these things? But I think investing in stuff that I am passionate about, learning about that along the way going back through my portfolio and just getting rid of

Starting point is 00:28:37 anything that I'm not that passionate about or it's dragging me down but yeah just being smart about that sort of stuff but I probably do need to take a more targeted view on where I'm headed no that's okay we don't always have to know I think just being on the journey is like the start right like once you're on the journey it's so much easier to like work out where you're going and what you're doing and nothing is scary anymore you just need a strategy and sometimes we just put strategy off because we're like oh that can come later like I'm just having fun right now that's fine as long as we're in the market we're in the market my love you have worked so hard and this is just all so exciting I feel like you're building up your investment portfolio you've got

Starting point is 00:29:13 your investment portfolio you've got a really great career but how are you protecting it do you have personal insurances set up if so how if not why good question so personal insurances I had no idea about until one of the girls actually had a presentation at work and shared that with us we all sat around her computer and re-watched the replay but basically it was just around ensuring I think the biggest thing at our age it's not about life insurance about it's about income insurance and you know can if you have a partner can they support you know if you have a mortgage or if you have a kid, all this is actually becoming more and more apparent as we get older and life gets more complex. So on that note, I think working out with your super what it

Starting point is 00:30:05 covers and what it doesn't, or is there a double up? Are you paying privately and then are you paying for your super? So I have had everything turned off in super, so no cover for any of those. You're giving me anxiety. Why'd you do that? well I just thought you know I don't need that right now and that would to be honest I think I made that about a year or more possibly two years ago that that decision haven't checked in on it since so it's actually this is a good reminder and to everyone else out there to check in on what you do you know what where you are at life and what you in life and what you do need cover for so since becoming pregnant like that it just depends on what and and getting mortgage

Starting point is 00:30:47 like income protection seriously important so we'll go in and tick that off another thing I also learned was that super can you can pay through your super but you can also pay privately but you can get your super to pay the private but um I think and trauma like trauma is just growing in terms of as we get like burnout isn't it crazy to hate stress warmer climate all that sort of I'm obviously wildly passionate about it. And for people who have been following She's On The Money and listening to it, they know how crazy I am about it, but you're so right. But then I also get so stressed when young people like you go, I don't need it right now in this season of my life, but then life happens. And then like, you might be playing netball and you get a knee injury or like

Starting point is 00:31:32 all these like things that are not that quote deep happen. Then you go to do your assessment to finally get personal insurances. And they're like, okay, we'll do this, but we're not covering you for A, B, C, D, E because you have pre-existing conditions, but you just cancelled the cover that had no pre-existing conditions like exempt. Like, oh my God, like if we'd kept that would be in such a better position, but you don't know what you don't know, right? Like go, well, why am I paying for something that I don't think I need? And that may, that sounds like a money win to get rid of it. Great. I'll have more super in my account. Like everybody's winning, but it's just not the case. So I know you're going to look into it. I'm going to hook you up with my mate, Phil from

Starting point is 00:32:09 SkyWealth so that you can talk about it properly and get the right insurances. But like, my God, it gives me so much anxiety when people are like, so I'm having a baby and I have no insurance. I'm like, so I guess so for 11 girls with varying degrees of complex life situations, what would you recommend? For 11 girls, I would recommend going and actually talking to a financial advisor about this. And it's not as expensive as you think it's going to be. Because when I retired as a financial advisor, that sounds so bougie, right? When I retired as a financial advisor, I divided off all of my clients to different businesses, right? And I had a really varying client base. I had like some ultra high net wealth people where I managed absolutely

Starting point is 00:32:56 everything for them. I had some mom and dad investors who we did their investments, we did their super, we did their insurances. But then I had a number of people in your age group where you're like, I'm going to run my own investments. I'm all good there. But like, can you just set up my insurances? And Phil from Skywell, I feel like I'm just like pumping him up all the time. But like, he is genuinely a good egg. He just does insurances. So because you guys are so good at investments and stuff, I wouldn't go see a financial advisor who's holistic because they're going to charge you through the nose. They're going to charge you like five or $6,000. Whereas Phil's fees are like $500 and under to just set it all up for you because he only does insurances.

Starting point is 00:33:36 Like if you want to talk to him about investment, he'll be like, I'll send you to an investment advisor. I am niche. I do this every single day. He has like a team of 50, literally. I feel like it's like when you look at, I don't know, when I'm like just talking about my mate Phil, people are like, oh, so we do this work independently. I'm like, oh no, he's actually got a really big business and the entire purpose is insurances. I would actually recommend them to all go and get individually assessed and all individually talk to Phil you know what I'll chat to Phil and be like can we do a little dealio I've got 11 for you like literally let me see what I can do in the background but I would a thousand percent say Phil that is so good say Victoria at the door

Starting point is 00:34:15 but that would be amazing because yeah I just think where even if you think that you we could run a little webinar for the 11 of you like wouldn't that be fun oh it will be fun for me maybe not for everybody else but maybe we do a webinar it's also funny like when you when you have a good contact and they can be of so much benefit to other people like even just our accountant love him so much and he helps so much without you know tax report at the end but i love it it's so fun and you just want to just share it and share the love but that would be amazing all right look let me let me work that out in the background tell me what do you think your best investing habit is? I think best investing habits would be that we care. So we stay curious,

Starting point is 00:35:00 we don't pretend like we know it all. That's one thing that, you know, us girls all agree on. We're also not afraid to delegate research. So, you know, if we don't know something, then can someone look into it? And then we have a vote. So out of our 11 people, if six or more of us are accepting of the proposed stock and we reach a majority resolution then that's then we all vote on that which is yeah we're all I guess of the same mind I think and this might be sexist but I think we really listen to each other so as women you know pass mistakes to the macro news but in the same vein we might not back ourselves as much as possibly our male counterparts which is where the group comes in so you know there's as i said before like that pack mentality we feel

Starting point is 00:35:48 confident doing it and we use our instincts so we understand levisa we might not understand data centers but that doesn't mean don't invest in data centers it means can a couple girls go away and do it a bit of research on it who's feeling most passionate about it is this something that we actually want to get into great put it in the chat and let's pick a time that we want to you know buy it and then we've got a treasurer and then she will execute that stock either at target price or stop of course you've got a treasurer you've got a treasurer you're making majority resolutions like you guys I'm pretty sure this is about to become its own country with a parliament and I'm really excited about it can I please join I'm happy to buy in I just

Starting point is 00:36:28 want to be involved because that sounds really fun what do you mean a whatsapp group where you're delegating research into different shares girlfriend say less I'll do it for free like oh you're living my dream it covers a lot of things that whatsapp group like this morning it was talking about second wedding dresses for someone so it's very very broad sorry that is right up my alley like sorry friends who marry the asx and wedding dress content my people you said before that you think maybe you guys aren't as good at backing yourselves and i totally relate to that do you think that would be your worst investing habit yeah i i would because we either jump on a trend so that's not really backing yourself either you're just sort of going

Starting point is 00:37:12 with the flow and our hesitation you know like Breville or we always bring this sort of stuff up when we're cautious we might you know have I mean Pilgrim turned out to be okay but we brought up Pilgrim three meetings in a row and we just thought are we going to sell this are we going to like what are we doing here why are we watching and waiting but then that is also a tactic in itself so it's hard but having the support of each other really and we're all in the same same sort of mindset which is super helpful as well and at the same time if someone's really passionate about something you know we we let them fly like we're we're there to you know go with them if they're if they're really keen but we'll also listen if people aren't if they're ethical

Starting point is 00:37:57 issues or personal reasons or an emotional sort of hesitation about something then we listen to that as well. There's so much that goes into investing that we don't like talk about on a daily basis, but in a group scenario, you really have to be considerate of because this group could fall apart in two seconds if you guys aren't taking into consideration ethical and moral decisions and even just emotional ones or being like, oh no, that company for X reason gives me the ick. Like you have to respect that in a group situation. I'm really excited for this country that you're building and it's just like parliament that you've started to implement just the fact that you even have a voting system you're like oh yeah men have more confidence sorry not in

Starting point is 00:38:38 comparison to this group they don't if if men saw this group of women coming they're running like they're hiding and I'm obsessed with that energy it's interesting you say that because a lot of men are or they're interested in this and they might say that they've got a similar thing going that they've got a chat or they haven't got any skin in the game together. Like there's no buy-in. No, they just talk shop. I've seen men's group chats. I have like, my husband thankfully isn't part of these. I get sent screenshots of them being like, yeah, I just bought this. They don't even know what they're talking about 90% of the time. They saw a TikTok and then went off that. It actually kills me. But at the same time, I'm like, we'll be fine. Women will be fine.

Starting point is 00:39:18 We will absolutely be fine. And we just need to back ourselves more. And this is a very good lesson in that money, Darius. I'm obsessed. This is so cool. Like your mom's women in black to ASX in the city. I am obsessed. I just love this energy. And I hope if there are more people doing this in my community, can you please DM me and let me in on all of your like little secrets and clubs and let us know what's going on? Because like, this is the coolest thing in the entire world. Also us too. Like we'd love to collaborate with any other investment groups out there or and also offer assistance like my mom and her group fortunately did to us i love that so what would your final advice be to anyone who's maybe listened to this and been like i want an investing

Starting point is 00:40:00 club like what would you say focus on first focus on getting it all set up it's hard it's not pleasant at the start you've got to jump through a lot of hoops but it's definitely worth it like the dividends, for want of a better word, you'll receive from it are just never ending. Both the support from, you know, the other girls or the other people in the group, the knowledge, just the camaraderie around it is as well as the finance, you know, there's plenty of book clubs out there, but we're, you know, we're making money as we chat and have a wine. I'm obsessed. I love it so much. Investing Diaries, thank you so much for joining me. This has been an absolute pleasure and I feel like I've gotten more out of this

Starting point is 00:40:45 than maybe even the community listening. I've been like, tell me more. What about this? How does that work? I'm obsessed. And if anybody is thinking of making an investing club or has one already, please slide into my DM so that I can match you up with this investing diarist

Starting point is 00:40:57 so you can all talk shop. I love it. And also a very huge thank you to Sky Wealth for making this episode possible. I'll chuck a whole heap of information about them, how to get in contact, what they do, how they do it in the show notes for you to check out. the advice shared on she's on the money is general in nature and does not consider your

Starting point is 00:41:20 individual circumstances she's on the money exists purely for educational purposes and should not be relied upon to make an investment or financial decision if you do choose to buy a financial product read the pds tmd and obtain appropriate financial advice tailored towards your needs victoria divine and she's on the money are authorized representatives of money Sherpa PTY LTD ABN 321 649 27708 AFSL 451 289.

She's On The Money - Investing Diaries: ASX and the City

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