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Chapter 1: What is the main topic discussed in this episode?
Property investors often talk about using debt to build wealth. In the share market, that's called gearing. With the BetaShares WealthBuilder range, investors can access moderate gearing into shares, and with the newly launched GG-BL, That means exposure to a diversified portfolio of around 1,300 global companies excluding Australia, all with no loan applications, credit checks, or margin calls.
Gearing magnifies both gains and losses, so it's only suitable for investors with a very high tolerance for risk. You can learn more about the WealthBuilder range of ETFs at the BetaShares website. And don't forget to read the PDS and TMD to decide if it's right for you. BetaShares Capital Limited is the issuer.
Here's something worth knowing if you've been meaning to make the switch to a better broker. To celebrate their fifth birthday, Perla are offering three free trades a month for five months if you transfer your portfolio across with a minimum of $1,000. For anyone investing regularly, that's meaningful savings on brokerage that can stay invested instead.
Perla is chess-sponsored, built specifically for long-term investors, and now has over $3 billion invested on the platform. If you've been with a platform that doesn't quite fit your strategy anymore, it might be time to take a look. You'll find all of the details at perla.com slash LP slash Rask. That's perla.com slash LP slash Rask. Hey there, here's a quick note.
This podcast contains general financial advice only. That means it's not specific to you, your needs, goals or objectives, so don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer and link to our financial services guide in the show notes. Hello, good day, good evening. Welcome to this episode.
Kate, it's always a pleasure to have you with me.
Wonderful to be here, Owen.
Today we're going to talk about an introduction to our Startup Pack series, just the kind of nuts and bolts of what we're doing here, why we're talking about money, why we think this series, this short series, as part of the Australian Finance Podcast is so very important.
So this is about helping you understand what we know and what we've done over the last few years to educate ourselves and bring some of those insights to. We're going to focus on the essentials, the foundations, the fundamentals of money. We're going to cover all the topics we think you need to know. And we're going to do that in the most relatable way we can.
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Chapter 2: Why is understanding the basics of money important?
And, yeah, even checking out, we've got a lot of other resources. There's obviously the whole podcast back catalogue. We've got, what, three years now worth of episodes there. We've got a lot of free courses on RASC education. That's R-A-S-K, named after Owens.
Yes, that's where it comes from. So Rask is the easy version of Raskovic, which is my surname. So you can find that in the show notes. So any of the things that we mentioned, there's a show notes page for. You can obviously head to the Australian Finance Podcast landing page as well, which has all of the episodes and all of the podcasts.
If you enroll in one of our courses, you also get a free Rask account, which then gives you access to downloads, PDFs. We have investment reports in there that are behind kind of like an email paywall, so to speak. So lots of stuff that you can take advantage of.
But I would say probably the first and most important thing is subscribing to the series because we're going to be coming out with 10 to 12 of these starter pack episodes. So you don't want to miss one. And they all kind of, by the end of it, they all come together, they all forge together in one strategy that you can follow.
The one thing that I would say is just consider joining that Facebook group. It doesn't cost you anything and it helps you share your journey. If I could be so, I guess, shamelessly plugging one of our courses though, the course that would be best aligned with this series is the Money and Budgeting course. That is basically the sister to this podcast series. It takes you through budgeting.
It takes you through all of those essential steps to get started. So that's all available. They're free. All of these resources are free. That's what we're trying to do. Kate, in terms of this episode specifically, we want to just introduce people to some key terms because there's a lot to get through in these next 12 episodes. So, we didn't want to waste this episode and waste your time.
So, basically the learning starts now. So, let's hit some of these key points. Where do you want to start?
Yeah. Firstly, I think you should always be asking in finance, why is this thing free or why is it paid? And that's what we encourage listeners to do when they look at anything, whether it's a, they're on a bank's website, they're talking to a fund manager, anyone in the industry should always find out what their incentives are and why they're doing what they're doing and
what their maybe personal biases, maybe their company biases. So I guess for us, we started this podcast just as a hobby back in 2018, 2019 now. We just did it for free. We didn't have any sponsors for such a long time. It was just something we were really passionate about. But now we do have
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Chapter 3: How can anyone get started with investing today?
Society doesn't encourage us to talk about it. Maybe you've never talked about it in your family before. And that's why we're so passionate about opening up that conversation, because Once you sort of dive in and decipher some of those confusing bits about money, you actually realize it's a lot simpler to deal with than it might have seemed. It's not as scary as it looks.
And once you start to understand the basics, you can kind of start to put a plan in place to take control of your finances and start having those conversations with your partner, your friends, your family.
Yeah. And this is the thing where it comes back to emotions. We're all different. We all come to this through different backgrounds. My background with money was one of insecurity. Didn't really have that stability at my family home in terms of, you know, my parents broke up and money was never, never something that we talked about. I'm the product of an English dad and a Polish mother.
I think those two cultures combine to not talk about money. The way you come to this will vary greatly. You might be in a situation where you have some good money mentors around you. You might have a business of your own. You might have a completely different experience. For me, it was one of, I don't know what I'm doing. This is very scary.
I remember even having to put my tax file number down on a piece of paper. I thought that this was going to come back to bite me. Like I thought this was a bad thing. And so you can go from that to feeling confident in your money. Once we give you some knowledge and some tools to deal with the emotional side of things, the other side is actually surprisingly easy.
And that's just thinking longer term is thinking in simple terms, how do I break this problem down and how do I deal with it? And if you need any more motivation for money, what you can remember is that most people have debt. 20% of Australians can't save $2,000. So if you're in that situation, you are not alone.
And at the end of the day, there's two things we all need to take care of in our life. One is our finances and one is our health. We really have no way to avoid either of those things. So even the most basic understanding of this is a good budget, that's not, this is how I react when I have $100 in my bank account versus when I have $1,000.
It's the same as having a good diet or understanding the difference between lots of saturated fat, the difference between KFC and maybe like a nice sandwich, which one's healthy for you. We're going to teach you those essentials. And so... You know, one of the key concepts of learning about money is the idea that you can grow wealthy over time.
Get rich slow is something that we don't talk about. There's a famous investor called Charlie Munger who said, most people think about get rich quick. If you just remove the quick, how does that change your life? And basically it means get rich slow. And that makes it a lot easier.
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