Tom Wilson
speaker
387 appearances
1 recordings
1 series
first heard Dec 2022
last heard Dec 2022
Tom Wilson’s voice in public audio — every appearance, attributed to the second.
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Appearances
A lot of us just automatically choose a profile, put the money in, and then hopefully it's there when we retire type approach.
And that's fairly straightforward.
It's sort of the same thing that we try and teach in that if you have a plan, you know your goal, timeframe, risk profile, you can go from there.
Yeah.
And the other thing, too, is bringing it back to even diversification.
Like we think the best approach is to be diversified.
And with $500, you probably won't get that diversification you need, depending on the way you go about it.
Like there's companies obviously like Raise where you can open up accounts that are quite small and, you know, you're buying into it.
But when it comes to, I mean, there's people who even think, and we talk about active and passive and core and satellite strategies in boot camp, and about what the practical elements of that is.
Because there's a lot of people who still want to dip their finger into the share market
whether they've got their own strategy or plans or information or even they've heard it from someone at a barbecue what we try and say is you know that's that's okay but make that a very small part of your overall investment uh plan so we try and run through all those kind of things so it's a it's a practical we don't sort of just rubber stamp everyone and say you're conservative you know your high growth go and do your thing yeah there has to be a bit of leeway
I think you have to do it like that because otherwise you can lose interest fairly quickly as well.
I remember when I was reading about people who would do trading as opposed to investing, they would start with a very, very small figure, something that you are happy with losing.
Because it's very highly related to speculation, almost like gambling when it comes to trading.
And then by actually doing, you tend to learn quicker as well.
So when you do lose like that $500 that you were punting on cryptocurrency, it sort of does hit home a lot harder.
Yeah.
Investing is different because you're obviously taking a long-term approach, definitely plan it out a lot better.
You don't generally start with a small amount, you know, like $500.
You have to have a little bit more saved up.
Showing 201–220 of 387 · page 11 of 20
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