Scott Phillips

speaker

1,587 appearances 2 recordings 1 series first heard Jun 2022 last heard 31 Aug

Scott Phillips’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · 📈 Investing for income: dividends & passive income · 2 Jun 2022 podcast

I didn't have a boss to talk to.

My young bloke still loves the idea of interest, right?

The idea that you put money in the bank.

I get some interest back, but there's much of it these days.

But that's exactly that kind of approach.

Really quickly too, I think I discovered an appreciation for compounding of passive income.

When I was a kid, I was lucky enough to grow up at a time when banks were offering you 6% and 7% interest at call for that very short amount of time when interest rates for mortgages were through the roof.

And it was like 0.1%, 1%, 2% is lovely.

When you're getting 6%, you get $3 for every $50 you got in the bank.

When you're a kid, that's even more magic.

So I probably was fortunate to have my formative years in that period of time.

It probably was part of what made me into the investor that I became.

But yeah, it is magic.

Yeah, I love it.

So I'm a shares guy.

I don't own any other investments other than shares, but I'm not purely a shares guy.

I'm not a shares guy because I'm a shares guy in the sense that I happen to do this for a day job, but my wife and I have talked about investment properties in the past.

We didn't get there.

I have owned an investment property in the distant past and would again if the opportunity was there.

So I'm not here to say shares are the best or the only way to do it.

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