Evan Lucas
speaker
1,534 appearances
4 recordings
1 series
first heard Jun 2022
last heard Jan 2023
Evan Lucas’s voice in public audio — every appearance, attributed to the second.
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Appearances
I've got that proverb, I know that one, I've got that sort of pinned on some things that I do in the point of view that hindsight's a beautiful thing.
So that's what you're firstly saying in that proverb, hindsight's a beautiful thing.
And there's no better time to start than now.
And the reason for that is that, again, if you can get back to what we just discussed, which is that on average, you're going to get over the medium term
six percent if you're going into a balance so it might even be a bit lower now about five percent or seven and a half to eight percent in a growth fund or nine percent in a high growth fund that all of that thing comes down to the eighth wonder of the world according to einstein which is compound
compound interest is the only set of maths that I think should be taught after school that you just don't... Because obviously, unless you're going to be an engineer or you're going to be a mathematics genius, compound interest is the only thing that you're going to actually use in your everyday life for the rest of your life.
And compound interest, for those of you that don't understand it, is basically that continual growth that comes.
And it's an amazing thing.
So again, when you look at...
how your strategy should be it's if you start today and as i said to you the current historical average of the asx alone is 9.8 the current 10-year historical average of the smps over 10. then you blend in fixed interest now obviously fixed interest has had a bit of a period over the last 18 months that's been quite negative but again if you look at fixed interest on a blended basis it's about three percent you put them all together and you're probably starting to give yourself that constant average
total returns, that's reinvesting your dividends and reinvesting the payouts that you get from your fixed interest or your cash product, whatever it is, and allowing that eighth wonder of the world to work in your favor.
So again, everybody compares, he's not the greatest one because I think he puts people off, but Warren Buffett is the example.
He's the exception.
I understand that when you look at a bell curve, right?
But if you look at Warren Buffett,
you can google this go and have a look at warren buffett's personal wealth from when he started to where he is now and it is perfect example of compound interest it is literally a perfect example it went from you know when he was 12 to when he was about 30 he got up to you know several million bucks from when he was 30 to 65 he started to touch a billion but when he hit 65
And he was around about $20 billion.
It absolutely exponentially took off.
And that's, again, yes, he's very good at picking.
Let's give him that credit.
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