Q&A: ETFs v LICs, getting a tax agent and dividend madness (DRPs/DSSPs)
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What are the differences between ETFs and LICs?
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Please remember that all of the information in this podcast episode is limited to general information only. That means the information is not specific to you, your needs, goals, or objectives. So you should seek the advice of a licensed and trusted financial professional before acting on the information. And before you acquire or apply for a financial product, please read the PDS or product disclosure statement, which should be available on the issuer's website. Lastly, please keep in mind that past performance is not indicative of future performance.
Kate Campbell, how are you going?
I'm good, Owen. It's good to be back for another Q&A for March this time.
Yes, it is a divine day here in Victoria. Kate Campbell, do you have an Amex card with Buy Now, Pay Later attached?
No, but I heard CBA is going to start offering them on your debit card. So I do have a CBA debit card, I believe, somewhere in the bottom of a drawer. So maybe I technically do.
Well, it's something for your back pocket maybe. We are making a bit of fun here on the Australian Finance Podcast because that's what we're all about. Don't get a credit card with a buy now, pay later attached. Anyway, Kate, we've got Q&A. So this is the fun part of the month. I noticed you did a great podcast with Paul Benson last week or the week before. I had a listen to it and I thought it was really good.
Yeah, well, thanks. I ditched you for that one, but you ditched me the week before that for the ACDC one. So I think we're fair now.
Yeah, I think that just about sums it up. But no, I thought it was really good. And I think Paul just speaks so well. Fellow podcaster, he speaks really well. One thing that I did notice in the way that he speaks, and he and I share the same view on this, by the way, so I'm not saying I disagree with him, that he said, you know, it does cost a fair bit of money to get a good financial advisor in Australia.
Mm-hmm.
What should I know about dividend reinvestment plans (DRPs)?
And that's such a shame.
Yeah.
But hey, that's probably why this podcast gets downloaded a lot is because people can't get advice and it does cost a fair bit of money to get good advice. So, hey, you know, we're going to just teach some people how to take care of their finances today with some Q&A.
Yeah. Yeah. And I had a friend recently who was just asking for a bit of info on financial advisors and I sent them a lot of sort of blogs and books and sites to read because I said, it's so expensive. So you should be as prepared as possible before you go and meet with a financial advisor and find the right person for you. Because if you don't sort of know the basics, it's really hard to know what you want out of them and what you want them to help you with.
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Chapters
8 chapters
1
What are the differences between ETFs and LICs?
0:00–3:20
2
What should I know about dividend reinvestment plans (DRPs)?
3:20–6:27
3
When should I consider hiring a tax agent for my finances?
6:27–8:00
4
What are the pros and cons of side hustles versus working overtime?
8:00–11:56
5
How do I manage my investments when a fund closes to new investors?
11:56–14:50
6
What is the impact of capital gains tax on my investments?
14:50–17:28
7
How can I effectively track my investment income and expenses?
17:28–20:15
8
What strategies can I use for long-term investment success?
20:15–55:53
Speakers
3 identifiedMore from Australian Finance Podcast
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