Brendan Malone

speaker

224 appearances 1 recordings 1 series first heard Nov 2020 last heard Nov 2020

Brendan Malone’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · How to invest with just $5 (micro-investing in Australia) · 2 Nov 2020 podcast

This whole emergency fund rainy day, I mean, the pandemic, unfortunately, has highlighted the importance of something like a rainy day or an emergency fund.

If people can give it a go and take that first step, understand what it means that the money is available in case of an emergency or required, but if not, they can understand how important the whole effect of compounding small amounts over time will add up to something big.

You know, you can set a savings goal.

You can pretty much do what you want to do to suit you.

And a lot of people, for example, there's automatic roundups.

They will have manual roundups turned on.

So then they can manually hit each transaction to round up.

And I can see on the behavior that sort of two to three weeks later, they're like, okay, now I get that.

I'll just set and forget and make it automatic because I know that my average roundups per week is about $8.

So it's give it a go and try the lessons.

And then people can switch because we offer the risk curve of conservative up to an aggressive.

They can switch between portfolios.

With the way the market moves, it gives them the education on what does the budget recently or what does the Trump election mean to the actual market.

So they're getting those lessons in education as they're trying.

And, you know, it's not gone are the days where it was a minimum of investment of $5,000 in a period of two or three years.

This is put a small amount in, give it a go and see if it works.

Yes, yeah.

Actually, that's a good question because what we're seeing is we have two sort of products, the same portfolios between our Raise Invest product and our Raise Invest super product.

And a customer may have $200 in his Raise Invest account and that's in the aggressive portfolio.

the average account balance in the super side is $25,000 and that's in the conservative portfolio.

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