If you and your friends are bored at home, why not try this fun and educational game? You can learn the basics of managing your personal finances, which I bet you didn’t learn at school. I sure didn’t.
I’ve been meaning to sort out my superannuation for aaaaages. Just one thing stopped me: information overload. Each time I attempted to do something about it, I found my eyes watering from all the paragraphs and numbers I had to trawl through. As with many things financial, the industry likes to overcomplicate things. I’m gonna do my best to break it down for y’all.
As some of you may know, I play Robert Kiyosaki’s Cashflow game every weekend with a bunch of awesome people. It’s such a good way to learn the basics of personal finance and investing. Each time I play it, I learn something new.
I randomly picked up this book at a library in Melbourne. Ah, the beautiful things you discover when you’re not even looking! Despite the title, this book isn’t so much about the technical detail of investing strategies. Rather, it talks a lot about the mindset that’s required to be a good investor, which also applies to many other aspects of life.
When you’re trying to get your shit together, the most logical thing would be to sit your ass down and write a plan, right? Hmm, easier said than done.
I can’t keep track of the number of times I’ve heard friends moan and groan, “how the hell do I afford to buy a property???” 🙄 I have no bloody idea, so I had a chat with my friend Ari who very kindly let me pick his brain on what he knows about investing in property. And he knows a lot. He amassed a $2 million property portfolio by the time he was 25.
The question I should have answered before I chucked $4,000 into these things. Oh well. ETFs are Exchange Traded Funds, which doesn’t really mean anything so lemme break it down: when you invest in an ETF, you’re actually investing in a crapload of stocks/shares (same difference). Sharesies says it’s like buying a basket of fruit instead of just one type. Guess that’s as simple as it gets. Buying stocks is like buying groceries, y’all. 💁🏻
Andrew is the founder of Strawman, an online community of investors providing members with independent, peer-reviewed research and recommendations on the sharemarket. Before starting Strawman, he was an investment analyst and a writer at The Motley Fool, a multimedia company which provides insight and analysis about stocks. He’s also a massive Elon Musk fan – woo! 😆
An important step in getting my money game in order: learning how to invest. I’d avoided touching it for so long simply because I never made the time to learn about how it worked. Hence, a huge thank you to SkilledSmart for hosting an amazing panel to give millennials like myself some tips on how to start investing. 😘
Second interviewee, woo! Chris is the CEO of Stockspot, an online investment advice service. He has over 21 years of investment experience (say what! 😱) and spent most of his career as a Portfolio Manager at UBS. He’s written some seriously good articles on investing on the Stockspot blog, my current favourites being these ones: 💵 The different roles shares, bonds and gold play in your portfolio 💵 When is a good time to invest?