068: Managing investments

Sophie Dicker

In this ep, Mia and Dinah talk to an expert about the life admin side of investing – it’s a great way to build your wealth but also comes with paperwork and passwords. While anyone of working age has investments through their superannuation, in the last two years there’s been a surge of first-time share investors.

About Sophie Dicker

Sophie Dicker is an M&A consultant by day and the co-host of You’re in Good Company (YIGC), a podcast that aims to make investing accessible to anyone, by night. Although working in finance, she had no idea about investing until her partner encouraged her to start. Her investing goal is to build the freedom to do things that she’s passionate about – whether it be starting a business, donating to causes close to her, or taking time out of the workforce to start a family. The ultimate goal of YIGC is to build a community of like-minded people right alongside.

In this episode we talk about:

  • the challenges of getting into the property market in Australia and other factors leading to an influx of younger investors in the share market
  • developing an investment strategy and the importance of understanding your money type and risk tolerance
  • why you might want to engage a financial adviser and how to find one
  • where to find information from experts to guide you on your investment journey
  • micro-investing: investing small amounts regularly through apps like Spaceship and Raiz
  • ETFs: a bundle of shares that provide exposure to a range of companies listed on the stock market, allowing you to diversify your investments more easily
  • finding an online trading platform that works for you and testing out the apps
  • managing the paperwork that comes with investing by adopting a folder structure to keep all the paperwork for purchases and dividends 
  • the importance of your HIN on CHESS statements and making sure you keep these in a secure place like your password manager
  • managing your account and password with the share registry
  • the process of setting up an online share trading account 
  • the benefits of developing a consistent investment routine
  • setting up investment goals (short, medium and long term) 
  • considering auto investing – a regular direct debit into an ETF 
  • using your Hours of Power to do the initial research and education into investing so that ongoing investing can become a Ten Minute Timekiller task in the long run.

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