Two Australian friends try to break the belief that investing in the stock market is “too confusing and above all a masculine game.”
Sophie Dicker and Maddy Guest, both 25 and from Melbourne, have invested some of their income in the Australian stock market and Global Exchange Traded Funds (ETFs) to build their long-term portfolios.
Talking about money and investing was unusual among our friends. We found this frustrating because our own experience has taught us that investing is empowering and exciting, ” the duo told Daily Mail Australia.
In March, the couple started a podcast entitled ‘You’re In Good Company’ to share their experiences in the stock market and give others the confidence to invest.
“We wanted to create a tool that is simple and accessible to promote prosperity equality,” they said.
Sophie Dicker (left) and Maddy Guest (right) have invested a portion of their income in the Australian stock market and Global Exchange Traded Funds (ETFs) to build their long-term portfolios
Earlier this year in March, the duo started a podcast entitled ‘You’re In Good Company’ to share their experiences in the stock market and give others the confidence to invest
Sophie works in the financial services industry, while Maddy has always been a ‘good saver’, but until last year she didn’t think in detail about their relationship with money.
After further investigation, the podcasters found “grim evidence” that an investment gap between men and women is disappearing in Australia.
“ Only 18 percent of all active online investors in Australia are women (according to Morningstar), and since we still have to worry about things like the pay gap, we should focus more on increasing our wealth through other avenues, ” she said. said.
When asked why they think men tend to invest more than women, the couple said it is likely that finance is still a “male-dominated industry” and that investing is often portrayed as “confusing.”
“The financial world can seem like a whole new language and this creates a vicious circle that perpetuates wealth inequality,” they said.
“So if we have generations where women are under-represented in the financial industry, it’s only natural that many of us won’t feel comfortable having conversations about money.”
Sophie started investing three years ago and with the support of her partner has invested in Afterpay and several ETFs
Maddy started investing 18 months ago, saying that 80 percent of her portfolio is made up of ETFs and blue-chip companies with the aim of providing a stable long-term return.
While many believe that strict budgeting and leaving money in a savings account is the best path to financial freedom, the duo realize that is not the case.
Only 18 percent of all active online investors in Australia are women (according to Morningstar)
With this new knowledge, Sophie and Maddy hope to encourage other women and young people to invest their money strategically.
“Investing is a mechanism we can use to help us achieve financial independence,” they said.
‘Unfortunately, it is not good to keep your money in the bank account when you consider the interest you earn on your savings versus the inflation in the economy.
So while it’s important to have some money in a savings account for the curve balls that life throws at you, in the long run, you should think about how to grow your money so that you can save yourself in the future. you feel comfortable and safe. ‘
TIPS TO KNOW BEFORE INVESTING
1. Start with a small amount – slowly become familiar with using your trading platform and familiarize yourself with market movements
2. Do your research – these don’t have to be huge amounts or overly time consuming!
3. Join or start a group with friends where you dedicate a morning coffee or an evening wine to talk about investing – make it as normal as a book club
4. Read a book about investing – there are so many good ones out there and reading them through will really help you understand the why
5. L.Istare to podcasts and you’re in good company
Sophie started investing three years ago and with the support of her partner she has invested in Afterpay together with several ETFs.
“I actually only invest in companies that I can see will have an impact in the future,” she said.
Maddy started investing 18 months ago and said 80 percent of her portfolio is made up of ETFs and blue chip companies with the aim of providing a stable long-term return.
‘I invested the other 20 percent in smaller, lesser-known companies that I have researched and have a strong conviction for. I find reading about companies and investing very interesting, ”she said.
The pair agreed that the ‘best way’ to start investing is to do your own research by listening to podcasts, reading books, and setting money goals.
“Starting with an ETF can be a great introduction as they are often considered less risky investments as you diversify across multiple companies or multiple markets,” they said.
‘Then you can go to purchasing companies if and when you feel comfortable with that.’
INVESTING PLATFORMS IN AUSTRALIA AND NEW ZEALAND FOR BEGINNERS
Spaceship Voyager is an Australian financial services company offering investment and retirement products specifically designed to engage younger people
The platform is free for balances less than $ 5,000 and will cost above 0.10 percent per year
In just three years, 100,000 Australians have started investing in Spaceship
Raiz is another platform that allows Australian clients to micro-invest in their remaining daily purchases in exchange-traded funds
“ When you put your money into an index fund, you spread your investments across many different companies from the start, which is something most experts recommend, ” said Frances
“Don’t feel bad if you start with a little bit of money – it gives you a sense of what you’re doing and you’re less likely to panic if the market inevitably falls.”