Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order Order KERNI Whoalbury and a waddery woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on a wondery country, acknowledging the elders, the ancestors and the next generation coming through as this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow.

Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order Order KERNI Whoalbury and a waddery woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on a wondery country, acknowledging the elders, the ancestors and the next generation coming through as this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow.

Let's get into it.

Let's get into it.

She's on the Money, She's on the Money.

She's on the Money, She's on the Money.

Hello, and welcome to She's on the Money, the podcas for millennials who want financial freedom. I'm back with another episode that has been far too long between recordings. Mister Glenn James from Money, Money, Money or M three joins us. Glenn, Hi, welcome to the show.

Hello, and welcome to She's on the Money, the podcas for millennials who want financial freedom. I'm back with another episode that has been far too long between recordings. Mister Glenn James from Money, Money, Money or M three joins us. Glenn, Hi, welcome to the show.

Thank you so much. It's been a long time.

Thank you so much. It's been a long time.

You're one of the only guys I let on the show like you are.

You're one of the only guys I let on the show like you are.

Welcome, Thank you, and hello to everyone who's listening. I know that we've got a lot of crossover listeners.

Welcome, Thank you, and hello to everyone who's listening. I know that we've got a lot of crossover listeners.

We do. I'm so excited for this episode because one you're visiting me down in Melbourne, which is really kind of you. But two you've released another book.

We do. I'm so excited for this episode because one you're visiting me down in Melbourne, which is really kind of you. But two you've released another book.

I have, what is it called. It's called The Quick Start Guide to Investing.

I have, what is it called. It's called The Quick Start Guide to Investing.

And you're doing that with my friend. Nick Bradley is now my friend who was your friend. We went to America together last year, and he's funny, Like he's like, really funny.

And you're doing that with my friend. Nick Bradley is now my friend who was your friend. We went to America together last year, and he's funny, Like he's like, really funny.

Moving to Spain.

Moving to Spain.

I know, it's actually insane. He's just picked up his entire family and moved them to Spain. He's not only funny as in not funny because he's moving to Spain, but funny in isolation. So cool life.

I know, it's actually insane. He's just picked up his entire family and moved them to Spain. He's not only funny as in not funny because he's moving to Spain, but funny in isolation. So cool life.

Story, but it's weird. Like I introduced you to my friend Nick, and then you guys all went out for the football or something one night.

Story, but it's weird. Like I introduced you to my friend Nick, and then you guys all went out for the football or something one night.

Social being more social, you were invited and you're like, no, I don't want to go out. I want to get ice cream and we're like, yeah, no, worries have fun on your own were he had hot dogs, Nick showed us American football. I had so much fun. And I also learned how to transfer money internationally because Nick bought my footy ticket. Do they call it footy over there? I don't know. Nick bought my football ticket and I had to give him cash back, and it was a conundrum. I see the value in just being able to transfer money between our bank accounts. Glen totally like the American banking system cooked, but that's not what we hear today talk about. I'm also not here to really talk about your book either, but you annoyed it. I did anoint it. We're in the book. Could I see my quote?

Social being more social, you were invited and you're like, no, I don't want to go out. I want to get ice cream and we're like, yeah, no, worries have fun on your own were he had hot dogs, Nick showed us American football. I had so much fun. And I also learned how to transfer money internationally because Nick bought my footy ticket. Do they call it footy over there? I don't know. Nick bought my football ticket and I had to give him cash back, and it was a conundrum. I see the value in just being able to transfer money between our bank accounts. Glen totally like the American banking system cooked, but that's not what we hear today talk about. I'm also not here to really talk about your book either, but you annoyed it. I did anoint it. We're in the book. Could I see my quote?

And for the first page at the top, I.

And for the first page at the top, I.

Like that, I'm first page at the top, But like on the back, I didn't get the cover because.

Like that, I'm first page at the top, But like on the back, I didn't get the cover because.

I want to be a median. On the back, I wanted a comedian.

I want to be a median. On the back, I wanted a comedian.

But like, why is a comedian got to endorse an investing book?

But like, why is a comedian got to endorse an investing book?

Well, why does everything have to be so serious all the time.

Well, why does everything have to be so serious all the time.

You are so lucky that you're good at investing content, because otherwise I don't know if i'd endorse this. But I'm excited for this because this goes a little bit deeper than my investing book. And what was saying before off air that this probably is a really good Like if you've read Investing with Sheees on the Money and you want to kind of like take it a level up Nick. He's a right nerd that like speaks in really general terms, so like his content is really easy to follow, and it's really highlighted, so you could just skip all the parts in this book that Glenn wrote and just focus on a niche part. Yeah, and I think that that's a really good way to approach it. But we asked our community Glenn a heap of investing questions, and I was hoping that you would be open to answering a few of them on the show and having a general chat about investing, because even though we're in the middle of the cost of living crisis, I feel like so many people are still really interested in self education and really interested in starting the process, even if it means they're just starting with twenty bucks.

You are so lucky that you're good at investing content, because otherwise I don't know if i'd endorse this. But I'm excited for this because this goes a little bit deeper than my investing book. And what was saying before off air that this probably is a really good Like if you've read Investing with Sheees on the Money and you want to kind of like take it a level up Nick. He's a right nerd that like speaks in really general terms, so like his content is really easy to follow, and it's really highlighted, so you could just skip all the parts in this book that Glenn wrote and just focus on a niche part. Yeah, and I think that that's a really good way to approach it. But we asked our community Glenn a heap of investing questions, and I was hoping that you would be open to answering a few of them on the show and having a general chat about investing, because even though we're in the middle of the cost of living crisis, I feel like so many people are still really interested in self education and really interested in starting the process, even if it means they're just starting with twenty bucks.

Yeah, and that's really good because there's a spectrum of life that we're all on, and someone could be starting out with their career, starting out with their first job, still at school or in university and not having much money and want to invest or. It could be the other end of the spectrum where like you've got more money than God, but a lot of people fit right in this middle part where things are tight, rent might be expensive, the mortgage repayments might be and have been increasing, or we might be trying to get out of consumer debt, but we still want to invest. And one thing I'm a big fan of is yes, putting your toe in the water. And I did a little table in the book where if you earn, say seventy thousand dollars a year, well let's try and make it so we're not going to not invest, but maybe allocate one percent of our investing, so seven hundred dollars a year. Or if you earn a thousand dollars, let's start with one percent. So it just keeps us Even if it's thirty or forty dollars a month, you're still getting out of debt or you're still trying to you know, keep things going along. But it keeps us interested and it keeps.

Yeah, and that's really good because there's a spectrum of life that we're all on, and someone could be starting out with their career, starting out with their first job, still at school or in university and not having much money and want to invest or. It could be the other end of the spectrum where like you've got more money than God, but a lot of people fit right in this middle part where things are tight, rent might be expensive, the mortgage repayments might be and have been increasing, or we might be trying to get out of consumer debt, but we still want to invest. And one thing I'm a big fan of is yes, putting your toe in the water. And I did a little table in the book where if you earn, say seventy thousand dollars a year, well let's try and make it so we're not going to not invest, but maybe allocate one percent of our investing, so seven hundred dollars a year. Or if you earn a thousand dollars, let's start with one percent. So it just keeps us Even if it's thirty or forty dollars a month, you're still getting out of debt or you're still trying to you know, keep things going along. But it keeps us interested and it keeps.

Us engaged, which I think is really important. Like for me, engagement with the process is more important than saving up a really big lump sum to start. I literally just finished recording in episode Glenn about getting back on track with your investing plan this year, because so many of us set out to like invest in January, and then it was February, and then all of a sudden it was July and we're like, oh, we've fallen off the horse, Like maybe next year. But like, investing doesn't have to have a start point that's like so defined. We can actually just start investing today and putting ourselves in the best possible position. And I mean right now, coming into the second half of the year. Like a book called The Quick Start Guide to Investing feels like the book I actually need, Like if I'm not at the start of year and I need some motivation, that's maybe not New Year, New Me vibes, but like, let's just get started. Glenn, you already have a book. Why did you want to write another one?

Us engaged, which I think is really important. Like for me, engagement with the process is more important than saving up a really big lump sum to start. I literally just finished recording in episode Glenn about getting back on track with your investing plan this year, because so many of us set out to like invest in January, and then it was February, and then all of a sudden it was July and we're like, oh, we've fallen off the horse, Like maybe next year. But like, investing doesn't have to have a start point that's like so defined. We can actually just start investing today and putting ourselves in the best possible position. And I mean right now, coming into the second half of the year. Like a book called The Quick Start Guide to Investing feels like the book I actually need, Like if I'm not at the start of year and I need some motivation, that's maybe not New Year, New Me vibes, but like, let's just get started. Glenn, you already have a book. Why did you want to write another one?

Because I wanted to just get to the point.

Because I wanted to just get to the point.

And why didn't you get to the point in your first book?

And why didn't you get to the point in your first book?

Because with my first book, Soort Your Money Out, people would always ask me, oh, what do you think about money? Or how should I get out of debt? Or how should I build a budget? Or how should I set up superannuation? Here's my book, He's all my thoughts. But this book it is smaller. So like I had a message from my cousin the other day and she said, Glenn, everyone at works talking about this trade a three thousand platform. What do you think. I'm like, it sounds like rubbish, that sounds like a scam. Yeah right, I said, I'm literally getting the book and I'm giving you a copy because that book is everything I think about investing.

Because with my first book, Soort Your Money Out, people would always ask me, oh, what do you think about money? Or how should I get out of debt? Or how should I build a budget? Or how should I set up superannuation? Here's my book, He's all my thoughts. But this book it is smaller. So like I had a message from my cousin the other day and she said, Glenn, everyone at works talking about this trade a three thousand platform. What do you think. I'm like, it sounds like rubbish, that sounds like a scam. Yeah right, I said, I'm literally getting the book and I'm giving you a copy because that book is everything I think about investing.

That's why I wrote my Investing one, because I think you were the same as me. I was so excited to write a book, and I thought, I'm just going to put everything I know about money in this one and I'll be one and done.

That's why I wrote my Investing one, because I think you were the same as me. I was so excited to write a book, and I thought, I'm just going to put everything I know about money in this one and I'll be one and done.

That's right.

That's right.

I will never write another book again. The writing process is so challenging, and I know you and I struggle with the same stuff. So we were both like, writing a book challenging as hell. But then obviously the questions come and people want more, and it's exciting to write another book because you can really niche down into a particular topic. So like I was being rude before, but that's maybe because I know you, But also I'm really excited to dive into this. But our community is also really excited to dive into this. I'm going to use this as a little bit of a Q and A session. I'm asking the questions, you're answering them, Glenn, I've got you captive Christa has asked, at what point should you move from micro investing to a big league investing platform.

I will never write another book again. The writing process is so challenging, and I know you and I struggle with the same stuff. So we were both like, writing a book challenging as hell. But then obviously the questions come and people want more, and it's exciting to write another book because you can really niche down into a particular topic. So like I was being rude before, but that's maybe because I know you, But also I'm really excited to dive into this. But our community is also really excited to dive into this. I'm going to use this as a little bit of a Q and A session. I'm asking the questions, you're answering them, Glenn, I've got you captive Christa has asked, at what point should you move from micro investing to a big league investing platform.

It's a very interesting and common question, and I actually think if the platform or the setup that you've got at the moment is working and the shoe fits, I don't know if you need to graduate. I mean maybe if you were starting to build significant amounts of wealth. I think the question always and it's exactly what I covered in the strategy chapter of the book. The question needs to be more about what's your long term strategy goals and why and what ownership structure do we need to house that investment in. Then we can work on, Okay, what's the best platform, app, brokerage account, Because what you invest in and how you own the investment, whether it's in your own name, whether it's in your superannuation, whether it's in trust if you're a complex investor, whether it's an investment bond, whether it's a joint name account, whether it's in a company, all that stuff, how you own it, what you buy is more important than the actual underlying brokerage account or platform. But I think when the student is ready, the teacher will appear.

It's a very interesting and common question, and I actually think if the platform or the setup that you've got at the moment is working and the shoe fits, I don't know if you need to graduate. I mean maybe if you were starting to build significant amounts of wealth. I think the question always and it's exactly what I covered in the strategy chapter of the book. The question needs to be more about what's your long term strategy goals and why and what ownership structure do we need to house that investment in. Then we can work on, Okay, what's the best platform, app, brokerage account, Because what you invest in and how you own the investment, whether it's in your own name, whether it's in your superannuation, whether it's in trust if you're a complex investor, whether it's an investment bond, whether it's a joint name account, whether it's in a company, all that stuff, how you own it, what you buy is more important than the actual underlying brokerage account or platform. But I think when the student is ready, the teacher will appear.

That's fun.

That's fun.

I think it was from like an old movie karate Kid.

I think it was from like an old movie karate Kid.

Maybe karate Kid. Yeah, don't quote me, but I thought you were going to like quote like someone really not eligible candy. Yeah, you're gonna be like that's a Gandhi quote. You're like wow, deep and you're like karate Kids. So I was like, oh, okay.

Maybe karate Kid. Yeah, don't quote me, but I thought you were going to like quote like someone really not eligible candy. Yeah, you're gonna be like that's a Gandhi quote. You're like wow, deep and you're like karate Kids. So I was like, oh, okay.

As an example, I think one of my hobbies is technology and.

As an example, I think one of my hobbies is technology and.

And purchasing useless technology. Is that what you mean?

And purchasing useless technology. Is that what you mean?

Yes, So I wanted to when I set up my first podcast studio.

Yes, So I wanted to when I set up my first podcast studio.

This man is not lying.

This man is not lying.

I wanted to get all these camera gear, and you know, you buy the first camera and you get to the point where you know it so well. The limitations appear the more that you know and I know nothing, and then it's like, okay, so I'm now upgrading from a maybe a little Sony handheld digital SLR.

I wanted to get all these camera gear, and you know, you buy the first camera and you get to the point where you know it so well. The limitations appear the more that you know and I know nothing, and then it's like, okay, so I'm now upgrading from a maybe a little Sony handheld digital SLR.

We're still there yet.

We're still there yet.

I went to black Magic, which is remember that like really.

I went to black Magic, which is remember that like really.

High using those no good about investment.

High using those no good about investment.

It was good at the time, but too complex for what I needed. So now I'm back to Sony cameras from JB High Fire. And I say that to say, with you're investing, the more that you learn about the platform, what you're investing in. You know, in the book we talk about building your portfolio. Do you want a single share portfolio of ten individual shares? Do you want a DIY three ETF simple portfolio, or do you want to one and done investment in a box ETF portfolio.

It was good at the time, but too complex for what I needed. So now I'm back to Sony cameras from JB High Fire. And I say that to say, with you're investing, the more that you learn about the platform, what you're investing in. You know, in the book we talk about building your portfolio. Do you want a single share portfolio of ten individual shares? Do you want a DIY three ETF simple portfolio, or do you want to one and done investment in a box ETF portfolio.

I feel like I'm on the same page as you about that. But that shouldn't be surprising to anyone who's ever heard us create content together. Yeah, because we're always like, yeah, that sounds about right.

I feel like I'm on the same page as you about that. But that shouldn't be surprising to anyone who's ever heard us create content together. Yeah, because we're always like, yeah, that sounds about right.

Well, my answer to the question is continue to learn about why you're investing, what you're investing in, what your investment strategy is, and then you'll start to see if there are any limitations to your current platform or brokerage account. There is a big discussion out there in personal finance land around chess sponsorship, brokers and custodium what is And I went to town on it in the book, gave my two cents.

Well, my answer to the question is continue to learn about why you're investing, what you're investing in, what your investment strategy is, and then you'll start to see if there are any limitations to your current platform or brokerage account. There is a big discussion out there in personal finance land around chess sponsorship, brokers and custodium what is And I went to town on it in the book, gave my two cents.

I know what that two cents is and can you just spoil it for us? How do you feel about chess sponsorship? So I think actually that track for those listening who are like, hold up, hold up, this has gone real deep, real quick. What is chess sponsorship? Glenn.

I know what that two cents is and can you just spoil it for us? How do you feel about chess sponsorship? So I think actually that track for those listening who are like, hold up, hold up, this has gone real deep, real quick. What is chess sponsorship? Glenn.

So. Chess is the system at the ASX Australian Securities Exchange, and Chess is the system that electronically tracks purchases and assigns that to a dedicated number quarter HIN identification number. Now, if I opened a brokerage account that was quote unquote CHESS sponsored, it would be under the name of Glenn James. I could then log in purchase shares in I don't know, Woolworth's or whatever, and then on the AX register it would say, you know, one hundred shairs in Woolworth's HIN number Glenn James yep, and then that's track yeah, directly on my personal name. With a whole bit of different investment apps and platforms, they have what we call an omnibus hin, which means, you know, if I created my own investing platform called the Glen James Investing.

So. Chess is the system at the ASX Australian Securities Exchange, and Chess is the system that electronically tracks purchases and assigns that to a dedicated number quarter HIN identification number. Now, if I opened a brokerage account that was quote unquote CHESS sponsored, it would be under the name of Glenn James. I could then log in purchase shares in I don't know, Woolworth's or whatever, and then on the AX register it would say, you know, one hundred shairs in Woolworth's HIN number Glenn James yep, and then that's track yeah, directly on my personal name. With a whole bit of different investment apps and platforms, they have what we call an omnibus hin, which means, you know, if I created my own investing platform called the Glen James Investing.

Platform, moneybus sounds like something I get on in Bali to go to.

Platform, moneybus sounds like something I get on in Bali to go to.

A club sounds pretty fun.

A club sounds pretty fun.

It's not that fun. But sorry, like Bali, I do digress, Yes, I do, like Bali. I've been a few times.

It's not that fun. But sorry, like Bali, I do digress, Yes, I do, like Bali. I've been a few times.

Yeah, I'm going in November.

Yeah, I'm going in November.

Okay, well we'll talk about that later.

Okay, well we'll talk about that later.

So if I created a platform and this is where the advantages are with micro investing. I could have all these shareholders use my platform and we have one HIN or one listing with the ASX, and then that HIN is spread all through the different owners. Now that money that we invest on the platform is held in custody or on trust, So if the Glenn James investment platform goes under quote unquote, people's money isn't lost. Now there is this thing in personal finance land and stockbroking land where there is a purest play that you must hold investments on your own hint for absolute security. I push back on that to say, if you're going to have that logic, you need to be careful because everyone or most people's superannuation is effectively in a custodian model. If you buy ETFs, you are not buying the underlying shares, You're buying units in the ETF. The wealth is on custody on the ETF provider's balance.

So if I created a platform and this is where the advantages are with micro investing. I could have all these shareholders use my platform and we have one HIN or one listing with the ASX, and then that HIN is spread all through the different owners. Now that money that we invest on the platform is held in custody or on trust, So if the Glenn James investment platform goes under quote unquote, people's money isn't lost. Now there is this thing in personal finance land and stockbroking land where there is a purest play that you must hold investments on your own hint for absolute security. I push back on that to say, if you're going to have that logic, you need to be careful because everyone or most people's superannuation is effectively in a custodian model. If you buy ETFs, you are not buying the underlying shares, You're buying units in the ETF. The wealth is on custody on the ETF provider's balance.

Sheet, and both you and I, Glenn, I think this probably tells people a lot because we obviously can't give advice on well what should I do there? But let you and I both own ETFs and both of us have superanuation funds that operate under a custo to your model, and we are both comfortable with that.

Sheet, and both you and I, Glenn, I think this probably tells people a lot because we obviously can't give advice on well what should I do there? But let you and I both own ETFs and both of us have superanuation funds that operate under a custo to your model, and we are both comfortable with that.

I don't have any of my wealth with a Chess sponsored broker, And the main thing is when you strip back and look at your strategy and how you're going to invest. The main thing for me is paperwork and ease of administration. So I have my investments on a platform and that platform has its own hint with the registrar and every year I get consolidated tax report. I don't have to keep records myself. And for me, you know, every time there's a dividends paid, they get paid into the cash account and then they get sucked back up and I have to repurchase ETFs. I don't have to keep any records.

I don't have any of my wealth with a Chess sponsored broker, And the main thing is when you strip back and look at your strategy and how you're going to invest. The main thing for me is paperwork and ease of administration. So I have my investments on a platform and that platform has its own hint with the registrar and every year I get consolidated tax report. I don't have to keep records myself. And for me, you know, every time there's a dividends paid, they get paid into the cash account and then they get sucked back up and I have to repurchase ETFs. I don't have to keep any records.

And that's worthy of consideration because so many people get caught up in this purest model of going. But that's the right thing to do. But the risk that is being carried in that decision, a whole heap has to happen to the Australian economy before you would be impacted. Like we're talking banks falling down before that's a thing. And I promise you there are bigger fish to fry when it comes to setting up your.

And that's worthy of consideration because so many people get caught up in this purest model of going. But that's the right thing to do. But the risk that is being carried in that decision, a whole heap has to happen to the Australian economy before you would be impacted. Like we're talking banks falling down before that's a thing. And I promise you there are bigger fish to fry when it comes to setting up your.

Platform and I think my thing and we will move on to the other questions. But you know we've both had paid work with Chasi's they're a platform or on app in Australia and New Zealand. I don't want you to be scared by people online saying you've got to have a chest sponsored broker and you've got to do it this way. Let's celerate people investing on that.

Platform and I think my thing and we will move on to the other questions. But you know we've both had paid work with Chasi's they're a platform or on app in Australia and New Zealand. I don't want you to be scared by people online saying you've got to have a chest sponsored broker and you've got to do it this way. Let's celerate people investing on that.

I also think it's really important to understand that when it's not chess sponsored, it's more accessible. So accessibility is something that to me is incredibly important in this investing world. And a platform like shares Is enables you to purchase fractions of shares and that is never going to be possible if you want to be completely chess sponsored individually, that's right, Like it's just not going to be an option.

I also think it's really important to understand that when it's not chess sponsored, it's more accessible. So accessibility is something that to me is incredibly important in this investing world. And a platform like shares Is enables you to purchase fractions of shares and that is never going to be possible if you want to be completely chess sponsored individually, that's right, Like it's just not going to be an option.

And so for example, when we talked about before, if you are cleaning up your mess, if you are building your career, if things are tired and you still want skin in the game, and you've got an income of fifty thousand dollars a year, one percent of year is five hundred dollars, that's forty one dollars a month.

And so for example, when we talked about before, if you are cleaning up your mess, if you are building your career, if things are tired and you still want skin in the game, and you've got an income of fifty thousand dollars a year, one percent of year is five hundred dollars, that's forty one dollars a month.

That's pretty achieve You can't do that.

That's pretty achieve You can't do that.

With a brokerage account. You've got to use an appal platform.

With a brokerage account. You've got to use an appal platform.

Yeah, exactly.

Yeah, exactly.

Now I will say as well, if you have a brokerage account, and because you're a chess purist and you only buy shares that are direct in your name with the ASEX, must be nice. The moment you go onto your brokerage account and buy direct shares in Tesla, Microsoft Apple in the US, you're exiting the chest system. Yeah, so you're going back into custody. Most of the world operates in the custodian model.

Now I will say as well, if you have a brokerage account, and because you're a chess purist and you only buy shares that are direct in your name with the ASEX, must be nice. The moment you go onto your brokerage account and buy direct shares in Tesla, Microsoft Apple in the US, you're exiting the chest system. Yeah, so you're going back into custody. Most of the world operates in the custodian model.

It's not that common.

It's not that common.

Yeah, So let's just have a shower and a chill pill cold shower, that is. And don't get scared by other people saying you have to do this. Because one thing I was really proud of, which we'll put a link in the show notes in the back of the book, I've got what we call an investing constitution, and what I challenge people to do is go through your investing constitution. So an example, here, you write down your goal, your why, your time horizon, your asset allocation, the ownership structure, the investing strategy, how you're rebalancing, what you're doing. So when things get tough or when you hear people say, oh, do it this way, we'll do it that way.

Yeah, So let's just have a shower and a chill pill cold shower, that is. And don't get scared by other people saying you have to do this. Because one thing I was really proud of, which we'll put a link in the show notes in the back of the book, I've got what we call an investing constitution, and what I challenge people to do is go through your investing constitution. So an example, here, you write down your goal, your why, your time horizon, your asset allocation, the ownership structure, the investing strategy, how you're rebalancing, what you're doing. So when things get tough or when you hear people say, oh, do it this way, we'll do it that way.

You Oh no, No, I've got my formula, I've got my strategy. I have my own plan, thank you.

You Oh no, No, I've got my formula, I've got my strategy. I have my own plan, thank you.

Yes. So a lot of it is turning down the noise and being so clear on your own investing strategy.

Yes. So a lot of it is turning down the noise and being so clear on your own investing strategy.

I think that's really important. All right, let's move on to the next question, because I feel like it does flow. Bell has asked Glenn, how do I pick a platform? There are so many I would say to Bell, how do you pick a car?

I think that's really important. All right, let's move on to the next question, because I feel like it does flow. Bell has asked Glenn, how do I pick a platform? There are so many I would say to Bell, how do you pick a car?

There are so many I want to know.

There are so many I want to know.

So, like if I wasn't in an investment land and I didn't have any level of understanding this, how do we understand what's a sham? Like before you were telling me off air that someone had asked you about an investing platform that both you and I immediately we heard the name, well like scam, absolutely steer clear. But how do we get to being able to identify that and then picking a platform that works for us?

So, like if I wasn't in an investment land and I didn't have any level of understanding this, how do we understand what's a sham? Like before you were telling me off air that someone had asked you about an investing platform that both you and I immediately we heard the name, well like scam, absolutely steer clear. But how do we get to being able to identify that and then picking a platform that works for us?

Yeah? So I think again, I do sound like a broken record, And this is why, Okay, you.

Yeah? So I think again, I do sound like a broken record, And this is why, Okay, you.

Haven't sounded like a broken record in a long time on my podcast, So just bring.

Haven't sounded like a broken record in a long time on my podcast, So just bring.

It back, all right, we're bringing it back the old classics. The whole thing about this philosophy this book is to work out why you're investing, So the why, how long you need to be invested for what you're going to be investing in. Do you want to do direct equities? Do you want to do ETFs? Do you want to do one soop shop? You nail that stuff and then you go, okay, what do I want to invest in? So it could be well, I actually want some American equities, I want some Australian or I just want to invest in Australia. So we work out exactly what we want to invest in. Then once we're clear on what we're investing in. And so if someone's thinking, like you've got older listeners who might be ten years out from age sixty. If someone's like, I just want to build wealth for retirement, well the question is we're probably looking at superannuation for that, So we're not really looking at an app or a platform. So once you get on your strategy and the why and the what, then we can look at the how. A lot of the discussion online and everything you see it always speaks to the how and the execution is always the easiest part. Well, if you're, for example, like I'm really comfortable investing in the top two hundred shares in Australia via an index, you've worked that out, you can go, okay, well what do we look at? You could ask your friends and family, Hey, what investment platform do you use and what do you like about it? Or you could ask people online. But the thing is you've just got to be so careful that when you ask these questions, people's response isn't going to impact your strategy or deter you from what you want to do. But I think any type of you know, if you want to get to the technical things, reputable platforms, they've got to be licensed in Australia. So on their website at the very bottom the front page of every money website, your website, she's on the money, my website, go to the very bottom of the front page. You'll have details of their license. Our websites have details.

It back, all right, we're bringing it back the old classics. The whole thing about this philosophy this book is to work out why you're investing, So the why, how long you need to be invested for what you're going to be investing in. Do you want to do direct equities? Do you want to do ETFs? Do you want to do one soop shop? You nail that stuff and then you go, okay, what do I want to invest in? So it could be well, I actually want some American equities, I want some Australian or I just want to invest in Australia. So we work out exactly what we want to invest in. Then once we're clear on what we're investing in. And so if someone's thinking, like you've got older listeners who might be ten years out from age sixty. If someone's like, I just want to build wealth for retirement, well the question is we're probably looking at superannuation for that, So we're not really looking at an app or a platform. So once you get on your strategy and the why and the what, then we can look at the how. A lot of the discussion online and everything you see it always speaks to the how and the execution is always the easiest part. Well, if you're, for example, like I'm really comfortable investing in the top two hundred shares in Australia via an index, you've worked that out, you can go, okay, well what do we look at? You could ask your friends and family, Hey, what investment platform do you use and what do you like about it? Or you could ask people online. But the thing is you've just got to be so careful that when you ask these questions, people's response isn't going to impact your strategy or deter you from what you want to do. But I think any type of you know, if you want to get to the technical things, reputable platforms, they've got to be licensed in Australia. So on their website at the very bottom the front page of every money website, your website, she's on the money, my website, go to the very bottom of the front page. You'll have details of their license. Our websites have details.

Of our lifeyple check that license.

Of our lifeyple check that license.

Google reviews, heck, send, probably don't, but do it whatever ask us and we'll say. Facebook group people will tell you like, I think it's getting to a trusted community. We can't give personal advice, but for example, as a bit of a sales thing for my audience, I tell them.

Google reviews, heck, send, probably don't, but do it whatever ask us and we'll say. Facebook group people will tell you like, I think it's getting to a trusted community. We can't give personal advice, but for example, as a bit of a sales thing for my audience, I tell them.

I've told people in my community that's a scam, don't do it.

I've told people in my community that's a scam, don't do it.

Yeah, So I'll tell people.

Yeah, So I'll tell people.

If I'll tell you I think it's trash.

If I'll tell you I think it's trash.

But if it's not trash, we'll say, you can't tell you.

But if it's not trash, we'll say, you can't tell you.

No, no, no. If it's trash, I'll be like, do not touch that with a ten foot poll. Then if you send me something that you know is legitimate, I'll be like, hey, yeah, I had a look online. They have a credit license. I have no experience with this platform. Good luck. Like, I can't give you advice, I can't tell you what to do, and I never will because even though it's illegal, it's also for me quite unethical, Like I don't know your situation, like that could be the perfect platform for you, or you might have a whole heap of stuff going on that I have no idea about and it doesn't make sense for you. So it's irresponsible of us to have an opinion. But I will stop you from jumping into a scam.

No, no, no. If it's trash, I'll be like, do not touch that with a ten foot poll. Then if you send me something that you know is legitimate, I'll be like, hey, yeah, I had a look online. They have a credit license. I have no experience with this platform. Good luck. Like, I can't give you advice, I can't tell you what to do, and I never will because even though it's illegal, it's also for me quite unethical, Like I don't know your situation, like that could be the perfect platform for you, or you might have a whole heap of stuff going on that I have no idea about and it doesn't make sense for you. So it's irresponsible of us to have an opinion. But I will stop you from jumping into a scam.

I won't tell anyone on my podcast or in my Facebook group what investment account that I use or what I invest in?

I won't tell anyone on my podcast or in my Facebook group what investment account that I use or what I invest in?

What do you invest in?

What do you invest in?

Well, I can't tell you, but in the book, we've got lots of practical examples, right, And I said to Nick, if we're using practical examples, I need to do a disclosure section at.

Well, I can't tell you, but in the book, we've got lots of practical examples, right, And I said to Nick, if we're using practical examples, I need to do a disclosure section at.

The back, so the outline that they never paid.

The back, so the outline that they never paid.

So like for example, it's like disclosures Glen Hold's the following investments mentioned in this book. There's some of the investments that I personally hold.

So like for example, it's like disclosures Glen Hold's the following investments mentioned in this book. There's some of the investments that I personally hold.

I'll see how number one is bitcoin?

I'll see how number one is bitcoin?

I did it. Well, don't read the other ones. Gosh, but I said listed alphabetically. I just did it alphabetically.

I did it. Well, don't read the other ones. Gosh, but I said listed alphabetically. I just did it alphabetically.

Okay, so Bitcoin's still number one, don't worries.

Okay, so Bitcoin's still number one, don't worries.

Yeah, Glenn has active accounts with don't you read them live? Oh, same as me and Glenn's business we host the podcast has been paid or I've done corporate speaking with Amazon aware super So I think what I'm saying is, if you want to know what I use personally, by the book, but I like that. I like all that go to a reputable community like your Facebook group and ask other like market investors.

Yeah, Glenn has active accounts with don't you read them live? Oh, same as me and Glenn's business we host the podcast has been paid or I've done corporate speaking with Amazon aware super So I think what I'm saying is, if you want to know what I use personally, by the book, but I like that. I like all that go to a reputable community like your Facebook group and ask other like market investors.

Yeah, the conversation. Look at Google reviews, So don't take some random person's opinion as gospel, like do your own research, get comfortable with it. That leads me into Glenn, I just saw a name in your book that we won't read on the show, but Kelly has asked, Glenn, how do I invest for my child?

Yeah, the conversation. Look at Google reviews, So don't take some random person's opinion as gospel, like do your own research, get comfortable with it. That leads me into Glenn, I just saw a name in your book that we won't read on the show, but Kelly has asked, Glenn, how do I invest for my child?

You've got a variety of options. I think it's one of the most complex areas. And number one, if you want to do it the right way, you have to set up a tax file number for your child. And then if you set up an investment account. So like heaps of investment platforms and companies, they allow you to click set up a child account, right and it just mirrors the account and it can be on trust for the child. Then what you basically have to do is you have to declare that income or dividends on the child's tax return. The problem is when you're a minor.

You've got a variety of options. I think it's one of the most complex areas. And number one, if you want to do it the right way, you have to set up a tax file number for your child. And then if you set up an investment account. So like heaps of investment platforms and companies, they allow you to click set up a child account, right and it just mirrors the account and it can be on trust for the child. Then what you basically have to do is you have to declare that income or dividends on the child's tax return. The problem is when you're a minor.

You have there's a lot tax rate.

You have there's a lot tax rate.

Yeah, and then it steps up to sixty and then back to forty. Like it's it's a cook to savage. So my personal view is so get.

Yeah, and then it steps up to sixty and then back to forty. Like it's it's a cook to savage. So my personal view is so get.

Rich, getting richer, so like I'm not that mad, but at the same time, like make it easier for people trying to invest for their kids.

Rich, getting richer, so like I'm not that mad, but at the same time, like make it easier for people trying to invest for their kids.

Yeah, it's a big discussion. I personally, for my niece and nephews have an investment bond. I've got the view with because I did a holy research on all the options that you can do, and if you want, I can share a link to the blog. I would love the show notes and it will just step through. I think there's six different ways you can invest you kids, and just quickly I've resolved after doing all that research that healthy parents financially or financially healthy parents they'll do equals healthy financial kids. And the only other thing as well that I think is really cool. If you're a little bit older, and if you have kids and you're forty, for example, or in your forties, and once you get to age sixty, the kids are going to becoming quote unquote online as adults, So eighteen, twenty thirty or whatever, you could actually set up a separate superannuation account in your name and just put money for the kids in there and just have that turn off the insurances put them as a beneficiary, so the estate planning is protected. It's very complex, but that's I like that option, but I honestly.

Yeah, it's a big discussion. I personally, for my niece and nephews have an investment bond. I've got the view with because I did a holy research on all the options that you can do, and if you want, I can share a link to the blog. I would love the show notes and it will just step through. I think there's six different ways you can invest you kids, and just quickly I've resolved after doing all that research that healthy parents financially or financially healthy parents they'll do equals healthy financial kids. And the only other thing as well that I think is really cool. If you're a little bit older, and if you have kids and you're forty, for example, or in your forties, and once you get to age sixty, the kids are going to becoming quote unquote online as adults, So eighteen, twenty thirty or whatever, you could actually set up a separate superannuation account in your name and just put money for the kids in there and just have that turn off the insurances put them as a beneficiary, so the estate planning is protected. It's very complex, but that's I like that option, but I honestly.

Think sound's way too complex for me, Like not for me, in general, but I think exceptionally yeah as a concept. If you are, you know, a little bit overwhelmed with the space, I think the first thing I would do is go what type of tax do I have as an individual, and how is this going to impact my child's investment because most investments are going to be kept in your personal name until the child becomes eighteen or until you decide to give them access to it, and that's going to put you in a position where, you know, if you are on the highest marginal tax rate, is that something that you want to consider. If you are on the highest marginal tax rate and you want something like an investment bond, have a look into them like they are not a bad option. I know you use them for your niece and nephew, and we have recently established one for Harvey. So for me, it's a really good tool. It's quite tax effective, and there's obviously a lot of benefits. There's also a little bit of a barrier to entry. You need to have a certain amount of money to be able to access it. It's not like a share'ss where you can go on the platform and just start investing with as you know, like a cent, but at the end of the day, you need to have a look at all of these options. And I do talk about it in my book. I know you touched on it in your first book. Have you touched on it in your second book? What about the options about investing for children?

Think sound's way too complex for me, Like not for me, in general, but I think exceptionally yeah as a concept. If you are, you know, a little bit overwhelmed with the space, I think the first thing I would do is go what type of tax do I have as an individual, and how is this going to impact my child's investment because most investments are going to be kept in your personal name until the child becomes eighteen or until you decide to give them access to it, and that's going to put you in a position where, you know, if you are on the highest marginal tax rate, is that something that you want to consider. If you are on the highest marginal tax rate and you want something like an investment bond, have a look into them like they are not a bad option. I know you use them for your niece and nephew, and we have recently established one for Harvey. So for me, it's a really good tool. It's quite tax effective, and there's obviously a lot of benefits. There's also a little bit of a barrier to entry. You need to have a certain amount of money to be able to access it. It's not like a share'ss where you can go on the platform and just start investing with as you know, like a cent, but at the end of the day, you need to have a look at all of these options. And I do talk about it in my book. I know you touched on it in your first book. Have you touched on it in your second book? What about the options about investing for children?

I didn't heaps touch on it. I did a little bit, so in the strategy chapter, I did a deep analysis on the six ways that you can own things, so in your own name, joint name, super investment on company, and trust and each of those things. I did a concept. I did how tax works year on year. I did how tax works when you sell the shares, and most importantly, estate planning for each option, and then the pros and cons of.

I didn't heaps touch on it. I did a little bit, so in the strategy chapter, I did a deep analysis on the six ways that you can own things, so in your own name, joint name, super investment on company, and trust and each of those things. I did a concept. I did how tax works year on year. I did how tax works when you sell the shares, and most importantly, estate planning for each option, and then the pros and cons of.

Each, which is all really important to understand before you're planning on investing for a child. Anyway, I feel like lots of us want to invest for our children and want to put them in the best possible position, but often it's to our demise. Maybe you're not investing for yourself first, you don't have an emergency fund for yourself. I think there are a lot of things that we need to be planning for, and pouring from an empty cup is not possible. So like set your financial house up for you and then work out what you're planning on doing.

Each, which is all really important to understand before you're planning on investing for a child. Anyway, I feel like lots of us want to invest for our children and want to put them in the best possible position, but often it's to our demise. Maybe you're not investing for yourself first, you don't have an emergency fund for yourself. I think there are a lot of things that we need to be planning for, and pouring from an empty cup is not possible. So like set your financial house up for you and then work out what you're planning on doing.

You know, I'm a pragmatist to a fault, and you know when I was practicing as an advisor and you're now a retired advisor. Slave, welcome to the retirement club.

You know, I'm a pragmatist to a fault, and you know when I was practicing as an advisor and you're now a retired advisor. Slave, welcome to the retirement club.

Thank you.

Thank you.

The amount of people that we set up investments for kids when the child was born four years down the track, I'll need a new lounge or we need something, and they I will just take that money like it doesn't I don't know, Like it's just tough, and I just think, build wealth in your own name.

The amount of people that we set up investments for kids when the child was born four years down the track, I'll need a new lounge or we need something, and they I will just take that money like it doesn't I don't know, Like it's just tough, and I just think, build wealth in your own name.

And distribute it to those kids and lay it down the show when.

And distribute it to those kids and lay it down the show when.

They need it. You might want to help your child out when they turn it in they're switched on with money, like hey, let's set up a shared investment account in your name. I'll see to it. With five grand I'll do that. Or they might be free spirit I want to get all right, we're going to pay for your flight to Europe. We want you to have this life giving experience. Or I don't know. I just think healthy financially healthy parents equals options for kids if they're not little brats and you want to help them when they come online as an adult. True.

They need it. You might want to help your child out when they turn it in they're switched on with money, like hey, let's set up a shared investment account in your name. I'll see to it. With five grand I'll do that. Or they might be free spirit I want to get all right, we're going to pay for your flight to Europe. We want you to have this life giving experience. Or I don't know. I just think healthy financially healthy parents equals options for kids if they're not little brats and you want to help them when they come online as an adult. True.

All right, Moving on, Maddie has a question. She wants to know, Glenn, what are the downfalls of having multiple investing platforms. I have a few at the moment.

All right, Moving on, Maddie has a question. She wants to know, Glenn, what are the downfalls of having multiple investing platforms. I have a few at the moment.

It's just going to record keeping. So number one, if you've got, say a traditional brokerage account might be with one of the big banks, You're going to keep dividends records each year. Some of those brokerage accounts will not pay interest on cash that's in the cash account. You need to check that with your investment app or platform. Another downfall is you may have investment overlap. So if I've got I don't know, a Comsec account over here, and I'm invested in IoZ, which is the Australian two hundred index by black Rock Top two hundred Companies weighted Index, and then on my Chase's account, I invest in VAS, which is the Vanguard Australian Share Index, which invests in the top three hundred Autralian companies, You've literally got overlap, I would probably say. And this is cool because when you get started, and we've all been guilty this, we set up different investing apps and accounts and oh this is cool. I would say, probably pick one that you like using the most, one that has the features that you like, one that might be really easy for reporting, the one I use. I just like it and it does the job and it's sweet, then you might go okay. Any in the money world, we call it new money. If you're investing new money, which is I've been paid, it's been in my savings account, then I've moved it onto the app or the platform. You might decide that going forward, any new money will be directed to this investment account, and I'm going to just use this going forward. You might be able to do an in specie transfer from the other investment account and move the ETFs or shares across to the new one. But I think it's just about having clear and clean housekeeping. The downsides, they're not really going to be hugely financially detrimental, because if you're just holding ETFs and not doing new investments, well, the ETFs have internal fees, so you'll get on either platform. The only downside would be if you're paying investing on one week and the next the other week into the same underlying vibe for what it's worth, you might pay higher brokerage on one. But I shared some options in the book where if you go through this set your strategy, you're like, oh crap, I've been building wealth in my super but I should use this option instead, or whatever reason. I talk about ways how we can unscramble that egg.

It's just going to record keeping. So number one, if you've got, say a traditional brokerage account might be with one of the big banks, You're going to keep dividends records each year. Some of those brokerage accounts will not pay interest on cash that's in the cash account. You need to check that with your investment app or platform. Another downfall is you may have investment overlap. So if I've got I don't know, a Comsec account over here, and I'm invested in IoZ, which is the Australian two hundred index by black Rock Top two hundred Companies weighted Index, and then on my Chase's account, I invest in VAS, which is the Vanguard Australian Share Index, which invests in the top three hundred Autralian companies, You've literally got overlap, I would probably say. And this is cool because when you get started, and we've all been guilty this, we set up different investing apps and accounts and oh this is cool. I would say, probably pick one that you like using the most, one that has the features that you like, one that might be really easy for reporting, the one I use. I just like it and it does the job and it's sweet, then you might go okay. Any in the money world, we call it new money. If you're investing new money, which is I've been paid, it's been in my savings account, then I've moved it onto the app or the platform. You might decide that going forward, any new money will be directed to this investment account, and I'm going to just use this going forward. You might be able to do an in specie transfer from the other investment account and move the ETFs or shares across to the new one. But I think it's just about having clear and clean housekeeping. The downsides, they're not really going to be hugely financially detrimental, because if you're just holding ETFs and not doing new investments, well, the ETFs have internal fees, so you'll get on either platform. The only downside would be if you're paying investing on one week and the next the other week into the same underlying vibe for what it's worth, you might pay higher brokerage on one. But I shared some options in the book where if you go through this set your strategy, you're like, oh crap, I've been building wealth in my super but I should use this option instead, or whatever reason. I talk about ways how we can unscramble that egg.

Unscramble an egg, I would actually that's impossible.

Unscramble an egg, I would actually that's impossible.

Done possible as said it is, but there are ways to slowly cut over. But in my life I've got one main platform per entity, So in my.

Done possible as said it is, but there are ways to slowly cut over. But in my life I've got one main platform per entity, So in my.

Own I feel like that's the most important part of it for me. Right, Like, when I look at that, I go, well, if you've got multiple platforms, I'm assuming you would across the board have the same risk tolerance, which means you've probably picked very similar assets on both platforms, and therefore the diversification is probably not having the intended impact. I would say that, being really generalist about it, you've probably picked an Australian ETF in one and probably something similar but maybe something different, and you're just overlapping and it's not actually giving you the diversification.

Own I feel like that's the most important part of it for me. Right, Like, when I look at that, I go, well, if you've got multiple platforms, I'm assuming you would across the board have the same risk tolerance, which means you've probably picked very similar assets on both platforms, and therefore the diversification is probably not having the intended impact. I would say that, being really generalist about it, you've probably picked an Australian ETF in one and probably something similar but maybe something different, and you're just overlapping and it's not actually giving you the diversification.

Though you've reminded me something of which is cool. So Nick Bradley, who was my co author, who talks about advanced strategies like options trading and swing trading, and you know.

Though you've reminded me something of which is cool. So Nick Bradley, who was my co author, who talks about advanced strategies like options trading and swing trading, and you know.

Trying to time the market is wild.

Trying to time the market is wild.

He's great. I love him. So what if Maddie, you were like, oh, I really love investing and I want to do what all these people say. So basically, once we work out what our investment strategy is, part of that could be I want to allocate ten percent of my portfolio to individual companies, so Specky's or oh I saw this company, I think they're an up and comer. You may set up, Maddie one of your accounts as So, if I had a total twenty thousand dollars investment account we have, we call it twenty thousand dollars. Because Maddie's growing financially successfully, she might say, this account over here, I'm going to keep around two thousand dollars in it, and I'm going to buy individual shares just because I want to be interested in investing. I want to buy JB Hi Fi, I want to buy a Cole's Woolworths, and the other one she keeps her broad based ETF. Long term, I'm just building wealth over here because in this other account she's quarantined the money, which helps with behavior, and if she invests two thousand dollars in a single stock and that single stock gets flushed, it's not going to flush her whole portfolio. So maybe, depending how interested you are, Maddie, you could actually say, well, one of these accounts will be my long term broad based portfolio. The other one has ten percent of my total value, which, because I'm interested in individual shares, I'll do it that way.

He's great. I love him. So what if Maddie, you were like, oh, I really love investing and I want to do what all these people say. So basically, once we work out what our investment strategy is, part of that could be I want to allocate ten percent of my portfolio to individual companies, so Specky's or oh I saw this company, I think they're an up and comer. You may set up, Maddie one of your accounts as So, if I had a total twenty thousand dollars investment account we have, we call it twenty thousand dollars. Because Maddie's growing financially successfully, she might say, this account over here, I'm going to keep around two thousand dollars in it, and I'm going to buy individual shares just because I want to be interested in investing. I want to buy JB Hi Fi, I want to buy a Cole's Woolworths, and the other one she keeps her broad based ETF. Long term, I'm just building wealth over here because in this other account she's quarantined the money, which helps with behavior, and if she invests two thousand dollars in a single stock and that single stock gets flushed, it's not going to flush her whole portfolio. So maybe, depending how interested you are, Maddie, you could actually say, well, one of these accounts will be my long term broad based portfolio. The other one has ten percent of my total value, which, because I'm interested in individual shares, I'll do it that way.

All right, let's go to a really quick break, Glenn, And on the flip side, I have a few questions about mindset and your favorite income streams, and I also want to talk about reverse engineering some investment goals. So guys don't go anywhere. All right, Glenn, we are back, and I have a question from Claudia. Claudia says Glenn James, what is your favorite passive income stream?

All right, let's go to a really quick break, Glenn, And on the flip side, I have a few questions about mindset and your favorite income streams, and I also want to talk about reverse engineering some investment goals. So guys don't go anywhere. All right, Glenn, we are back, and I have a question from Claudia. Claudia says Glenn James, what is your favorite passive income stream?

Oh, I reckon my book royalties.

Oh, I reckon my book royalties.

But how much you're making from not much?

But how much you're making from not much?

Yeah doesn't mean the most successful?

Yeah doesn't mean the most successful?

Yeah, Okay, that's true. That's true. Why is it your favorite?

Yeah, Okay, that's true. That's true. Why is it your favorite?

Okay? So we hear about this stuff online all the time about passive income, right, and I see people post stories like, oh, I've got my passive income.

Okay? So we hear about this stuff online all the time about passive income, right, and I see people post stories like, oh, I've got my passive income.

I do affiliate marketing.

I do affiliate marketing.

Yeah, or I was literally last night in the hotel in the bath looking up new propeller for my boat.

Yeah, or I was literally last night in the hotel in the bath looking up new propeller for my boat.

Baths at they w They're nice, really nice, Yeah, really nice, like kind of woodlog fire vibes.

Baths at they w They're nice, really nice, Yeah, really nice, like kind of woodlog fire vibes.

Love it. And so this company that I purchased the propellers from, it was kind of their Yeah, well we all need a propeller. If you've got a boat, don't at me everyone you get a boat. Yeah, it is carry on. That's what I value.

Love it. And so this company that I purchased the propellers from, it was kind of their Yeah, well we all need a propeller. If you've got a boat, don't at me everyone you get a boat. Yeah, it is carry on. That's what I value.

It's your favorite passive income stream. Hey, is that what you did with your income stream? You've got a passive income stream, You've got a boat. Okay, again relatable.

It's your favorite passive income stream. Hey, is that what you did with your income stream? You've got a passive income stream, You've got a boat. Okay, again relatable.

So this guy that I purchased the propellers off, that's his side hustle, right, that's his side thing. Now I've seen people online say I've got this passive income thing. I sell propellers on eBay or marketplace. Okay, there's not much passive in boxing up a propeller, printing a postage labor. It's pretty active. Yeah, So, I honestly think the best passive income thing that you'll get on this island or anywhere in the world is investing in shares.

So this guy that I purchased the propellers off, that's his side hustle, right, that's his side thing. Now I've seen people online say I've got this passive income thing. I sell propellers on eBay or marketplace. Okay, there's not much passive in boxing up a propeller, printing a postage labor. It's pretty active. Yeah, So, I honestly think the best passive income thing that you'll get on this island or anywhere in the world is investing in shares.

Yeah, that's what I was going to say, was mine. I mean, Claudia didn't ask me, she asked.

Yeah, that's what I was going to say, was mine. I mean, Claudia didn't ask me, she asked.

You, but what's your favorite investing in shares?

You, but what's your favorite investing in shares?

I would say it's my share portfolio because I don't do anything to it. And if tomorrow I stopped investing and stopped adding, I guess because every month we add a certain amount to it. If I stopped, it would still pay me. And I agree, like it's very cool to have book royalties, but like that depends on whether people are purchasing my book and marketing and branding. And I'm assuming at some point people are going to stop purchasing my book, whereas my shares are well diversified and kind of set and forget in the Australian share market and the international share market to be really clear out.

I would say it's my share portfolio because I don't do anything to it. And if tomorrow I stopped investing and stopped adding, I guess because every month we add a certain amount to it. If I stopped, it would still pay me. And I agree, like it's very cool to have book royalties, but like that depends on whether people are purchasing my book and marketing and branding. And I'm assuming at some point people are going to stop purchasing my book, whereas my shares are well diversified and kind of set and forget in the Australian share market and the international share market to be really clear out.

And I will say so Claudia, I would say as well that if you're thinking about this stuff, what are you really good at in your life? Because sure, like I've written a book, I've done online courses and all that stuff. There's a lot of active work to start with, but once it's launched, it's pretty low maintenance.

And I will say so Claudia, I would say as well that if you're thinking about this stuff, what are you really good at in your life? Because sure, like I've written a book, I've done online courses and all that stuff. There's a lot of active work to start with, but once it's launched, it's pretty low maintenance.

Everything that is going to create good passive income I believe takes really big initial investment, not necessarily financial, but time, energy, effort, planning, research.

Everything that is going to create good passive income I believe takes really big initial investment, not necessarily financial, but time, energy, effort, planning, research.

Well you think. So if someone's like, oh, I want to invest in shares because it's the only passive income game in town, there's got to be a trade of human capital. So if you want to put I don't know, one hundred dollars in your investing account, if you're on thirty three dollars an hour, it's three hours of your time. But also it's probably more because thirty three dollars an hour it's pre tax. And that's kind of you talked about mindset. I did a whole chapter in this book about establishing your investing mindset and having the mindset of an investor and ask YOUVD, why do you invest.

Well you think. So if someone's like, oh, I want to invest in shares because it's the only passive income game in town, there's got to be a trade of human capital. So if you want to put I don't know, one hundred dollars in your investing account, if you're on thirty three dollars an hour, it's three hours of your time. But also it's probably more because thirty three dollars an hour it's pre tax. And that's kind of you talked about mindset. I did a whole chapter in this book about establishing your investing mindset and having the mindset of an investor and ask YOUVD, why do you invest.

Because I want to be rich? AF it's good.

Because I want to be rich? AF it's good.

Answer, richie most wealthy, acting richual making folks. So as long as you don't act rich, that's fine.

Answer, richie most wealthy, acting richual making folks. So as long as you don't act rich, that's fine.

I mean, I've fallen into the trap of that, right, Like I think that I definitely have fallen into the trap historically of like lifestyle creep and enjoying life. And I don't regret that, but I feel like I'm making wealthier decisions now, which is really nice. But if I'm being frank like, I am investing because I want to be wealthy, and I don't think that there should be any shame around that. I think that we should be more open with that. I think, you know, obviously, in addition to creating wealth for me and my family, I feel like that to me is freedom of time. It is choice. It is giving my kids the best possible upbringing and experiences and setting them up so that they don't have to struggle financially. I mean, you can delve into it. But like if you said in a sentence, V, why do you like investing, I go, well, I know that every single month, I'm creating a asset that is going to pay me and pay my family into the future, and that to me is very sexy. I think that at the moment, there seems to be a lot of shame because we are in the middle of a cost of living crisis. And like I laugh at you sometimes because you have your boat and a lot of people come for you for that online. I mean they come for me when I fly business class on Points, they come for me, when I go to Europe, they come for me, you know, when I'm just doing day to day thing. But I also think that we need to remember that that is also earned, and it's not us showing it off in your face to be like na, Nah, it's actually us going, hey, we've done this ourselves from scratch. You can do it too. Like I don't think I'm a genius, and I know that you don't think you're a genius. In fact, I think we're both as baffled as each other that we've gotten this far, and I think that we need to look at it and go, well, actually, if Glenn and Victoria can do that for themselves, we can probably do something clearly similar.