Chris Bates

speaker

1,659 appearances 5 recordings 1 series first heard Jun 2021 last heard Dec 2022

Chris Bates’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Property investing strategies (advanced) with Chris Bates · 4 Oct 2021 podcast

A lot of people are thinking very positive around shares right now.

And I was a financial advisor for 13 years and I'm a massive believer in the long-term benefits of shares.

But I do know that behavioral economics, which you've had Daniel Crosby on a few weeks ago,

that all those sort of uh things kick in right and so i think when people start buying shares um the the emotions take over unfortunately and you know they get overconfident or they react sort of irrationally when times are things so i think you've got to be really careful um

And I'm not a big fan when I was a financial advisor, not anymore, we focus solely around the property decision, but is drip feeding into the market dollar cost averaging and just slowly building that portfolio.

And I don't really believe in terms of really selling it.

If I'm gonna go and buy $100,000 of shares,

In my mind, it's money that's going to sit there for a long time.

And so when people are pulling equity out, we've really got to then go invest it wisely longer term and don't sort of fall to all these sort of emotional stuff that will kick off pretty quickly because you'll start seeing that portfolio value every day.

I think initially when you, because of the leverage in the property market, right?

So let's say that scenario where that someone can use $150,000 of savings to go and buy a million dollar property.

And then that million dollar property can grow from, it makes sense to sort of, and that can grow tax-free from, to explore that first when you're younger, rather than sort of trying to focus on when you're

65, 70, you're super.

So I do think, you know, people, once people got a house though, they're starting to build equity in it and they're on top of their mortgage.

I think people are missing a trick if they're not thinking about their super.

The reality is the government have really reduced how much you can put into super over the years.

And while there is a little bit of catch up things you can do, if you don't do it this year, you can catch up next year in terms of your contributions.

Sometimes you either use it or you lose it.

And so the opportunity to put money into super, what we find when seeing people at 20 years older, when they're 40s and 50s, they come to advisors, me in the past, and they would say, I want to start getting, take action for my retirement.

And I said, well, you probably should have done this in your 20s and 30s.

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