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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Australian Finance Podcast · Investing with less than $5k & building an investor mindset | Evan Lucas from InvestSMART · 1 Jun 2022 podcast

So if you could put up $4,000 of your own money, we will lend to you, which is probably the right word, $6,000 to give you $10,000.

So getting back to your point, Owen, about micro-investing, you've gone from $100 to $10,000.

Then also the other part of it is that the way you pay that six grand off is in installments of 300 bucks.

That 300 bucks is yours, right?

That's your $300 per month, like what we're talking about with my mum, for a $25 fee.

So the fee that we're charging is 25 bucks a month and you can pay that off as fast as you want.

You don't have to be 300 bucks, you can do 500 bucks, you can put $1,000.

The faster you get rid of it, happy days.

but what we're trying to do is there's two points to that you therefore start with a balance that actually will help you get going give you economies of scale so you're not just buying some micro thing that brokerage fee from us comes from our provider and it's 4.95 so it's basically negligible rather than your 14.95 or your 19.95 so be aware there is some other little cost in there

But it then gets you into that habit of adding to your portfolio.

And once you get past the six grand and you get to, you know, you've got 10 grand of your own money invested in the market, you watch how many of you just keep doing it.

because it's just natural to be putting that 300 bucks away.

You've started to realize that it's part of your normal budget and away you go.

So that's what fund later is.

And we have started to see that exact thing that those that were spending are now investing and away from it.

The app's now out there and the app is fantastic because it tracks what you're doing.

It shows you not just what you've done, but it gives you that advantage to see that your portfolio is growing.

And even with what's going on right now,

the advantage of it is dollar cost averaging.

So you are basically still making sure that you're adding into it.

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