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Investing in your 20s australia zoo

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You will realise how little we really understand about investor behaviour and investment markets. First, learn to manage your emotional reactions to markets. These are the best buying times, although you will struggle to recognise them at the time.

The best way to manage your reactions is to diversify your portfolio into unlisted or alternative investments, including bonds, infrastructure, property and private equity. Take the daily market fluctuations out of the picture. Second, play to your own strengths. You will not have enough patience or interest to pore over company balance sheets analysing numbers, nor special intuition about future global trends, to become a top share analyst.

Most macroeconomic commentary bores you. For your equity portfolio, you should combine three opportunities:. Identify a group of high quality active investment managers who do not follow any indexes, and leave your money with them for long periods.

The rest of your listed equity exposure should be in various forms of indexes but avoid repeating your own selections in the concentrated Australian market. And train harder and play more football, because you will never be as fast and fit again as you are today. I have previously written an article in Cuffelinks called My 10 biggest investment management lessons. From that I have selected two below. Note that unlike many investors, I am comfortable selecting some experienced managers to help manage my money, as well as doing stock selection myself.

In financial services, with most aspects of investing, Joe Average does not have a clue where to start to find the best products. To DIY in financial services is tough for the average person. That is exactly the opposite of how I think.

Past performance is extremely important and a great guide to the future. Only long-term results are relevant. The managers I use are selected for the long term. I have no interest in their short-term results. If it looks like a manager is struggling which I would only conclude after rolling 3-year periods , I would only exit after say a poor rolling five-year result. Managers need to buy quality stocks. A good track record and a high tracking error should help investors do well in falling markets which is a sign of a good portfolio.

Very interesting in that it reaffirms "what we all know" but fail to act upon. A pity Mr Bell can't resist the temptation to move into jargon rather than explain a concept in relatively understandable terms. Overall a good read. That's a bit harsh! David clearly defined the terms he used.

Stochastic thinking is, from his own words, looking at all possible outcomes instead of just your central expectation and understanding whether you're OK with them or not. Deterministic thinking is,obviously, focusing on your central expectation and ignoring the consequences if things pan out differently. I see this often in the investments that I'm shown.

I agree with David - that's not good enough for making sound decisions. I want to discuss all the possibilities, understand how likely they are, and how the risk of things not working out can be managed or not. Rise early, Work hard, Inherit well. Life is amazing, and might never feel this free again so say yes more often you won't use your degree anyway.

You're about to embark on a continued mental struggle to make sense of benchmarks, relative returns and their relative uselessness but just trust me - a low cost diversified group of listed investment companies will provide you good enough returns; and good enough counts for a lot. Secondly, paying the house off by 30, while it felt good at the time, was a bit foolhardy.

I have kids, so you will too. Personally I think you should travel a little more because one day it won't be easy! And sell the VW, you really shouldn't be driving a car with rope for door handles. Secure your shelter. In other words buy your house then proceed to pay it off as fast as you can. When you are 12 months in advance, purchase your second. Do not borrow against your home. Regard it as sacrosanct. During your accumulation period, acquire knowledge by reading widely with an open mind.

Attend share holders AGMs. Pick 10 of their top shares. Borrow against the equity of the investment property. Commence investing in those shares on a dividend reinvestment plan, long term. Savour the franking credits and reinvest the credits into the share portfolio.

Be patient and watch your investments grow while continuing self education. Many thanks to all contributors and to those who responded for their insights. May I respond, however, by providing what I think may have been the response of my good mate, Matt Laffan. Dear 20 year old Matt, 1. Investing in friendships and a good education is more valuable than investing in companies or property or cash or bonds. It carries no dollar value, but brings great fulfilment. Focus on these two things, as they will represent your day to day life during work hours and after work hours.

Ignore the words compound, timing and other investment jargon, or any talk about the future. Time is something you won't have. You already know that your physical condition which confines you to a wheelchair, will also take your life earlier than most.

So enjoy your career as a lawyer, enjoy your friends and spend every bloody penny you have big guy. A wonderful encyclopaedia for life! Thank you all! My comment would be; when you invest, not,only look at what you could make, but also what you could lose And then ask yourself would the loss significantly change your life? If that is the case, look at what you could lose! Congratulations When I was twenty I would not have listened to a word of it. I took a long time to realise I know very little.

I thought rich people were nasty pieces of work that were trying to rip me off. I was very far left working in a shipyard,now I am centre left. I knew no different to what other tradesmen told me. I never realised what compounding was. I thought saving up was the way to go,because that is what everybody said,how could they all be wrong?

Stock markets were for rich people and you had to be rich to buy a house. The worst performing bank. Still has produced great wealth for such a small outlay,around 8 weeks wages back then. To me that is compounding.

People still think I am mad if I tell them that is compounding. No problem at all. Great edition Leisa! I've passed it on to our girls. What a spectacular th edition. Well done Cuffelinks. A few mundane bits but otherwise really fun and funny and hugely insightful. Have not done a proper analysis but 5 threads recurred enough to mention.

Compound interest. Spend less than you earn. Cycles - coast through them. And its cousin, don't follow the herd. Asset allocation [or In in the middle of getting my no-longers into seriously looking at their investments and this edition is gold. Thank you cuffelinks and all the contributors. Congratulations to Cuffelinks!

I enjoyed reading this article in its entirety. Great advice from everyone and thank you so much for sharing. However the one insight I respectfully disagree with is moving out at Since that age I am 32 now I always understood from watching people around me be bad with money and from reading Mr.

Google about the benefits of saving, investing and being conservative with discretionary expenses. It's not hard and certainly does not take moving out to learn this in my opinion. No-one will be there for you in hard times like good'ol mummy, and you should want to spend as much time with them as possible instead of spending money on rent until you have a good reason to leave.

Great th edition and congratulations. You have to be passionate about the concept and drive hard. Another is an internet retailer of remote gate-opening engines. Congratulations for the th edition and thank you for the education you provide, for which I look forward in reading every week.

Excellent set of contributions. I wish I had picked up your key piece of advice as I played little football between the ages of 20 and 40!! Anyway, on the investing side, the advice was all good but I reflected that the majority of my net wealth has been accumulated in ways completely contrary or independent of the advice given.

I therefore transferred assets at a much better than average exchange rate and was in cash during the worst parts of the equity market fall. I am not sure this adds up to a coherent investment plan for a 20 year old as they are unlikely to enjoy the same fortune around residential property and employment income growth may be a challenge for many. So, I would say enjoy life, make sure you make the most of your career, invest what you can early and in assets which have a chance of outperforming through compounding and take advantage of luck along the way but more importantly try to protect yourself against the sort of bad luck which could set you back years.

Seek out people that under promise and over deliver. Follow the cash line not the story line Take small steps and carry a big stick. Wonderful insights into investing to celebrate Cuffelinks th edition. Great to hear that Don Stammer, like George Best, spent too much on a mis-spent youth! Lots of good advice. Every dollar you spend from what you earn is one dollar less that you save to invest. Make a simple financial plan about income, spending and saving. That plan will teach you a lot and guide your good saving habits.

Rule 2 : Investing The best returns are from compounding — your superannuation compulsory and your dividend reinvestment voluntary. If you want to take a hands-on investment approach, it will take an awful lot of your time and luck. If you want hands-off investment, find a good manager with a track record and good luck and go for long term investing. In any event, you will win some and lose some. Take care of your life. If it's too good to be true, it usually is 2. If you don't understand it, don't buy it 3.

Never underestimate the power of compounding One note to Dr Don Stammer Thank you so much to all the contributors. What wisdom you have shared. I will bookmark this link. If I could give advice to my 20 year old self it would be to listen more to your parents because you'll really miss them when they are no longer there. Be kinder to your wife, because she will leave if she feels unappreciated and with her will go your assets, your confidence, your shared memories and your dreams of a future together.

Aim to pay off the 30 year mortgage in 10 years, then buy income-producing shares, travel, always look for beauty wherever you are and don't worry so much. This advice is the core of a handbook which should be taught to every 9th grader and upwards, and explained and examined 'till all know it backwards.

Sadly , I missed out. At 80 , I'm still learning. Very good read and insight into how many of us think and wish we had done, with similar essential threads throughout. Will pass this on to my 24 yr old son who wants it all to happen next week. Congratulations on your th Edition and thank you for your valuable continuing education. Re "20 year old self". Is it for me as a 20 year old in , or if I was 20 now in ? It would not be the same advice. Then again, it probably doesn't matter.

I doubt many 20 year olds me included would take advice from a 60 year old. Discipline , diversity , patience , and the Power of Compounding are the main issues i would consider when starting out investing as a 20 year old. I would first tell myself to start investing earlier, because you will mistakes, but it's better to make mistakes now with "little money" rather than making them later with "big money".

It's also much easier to recover. Second, hold on to your "North England Lad" principles about not spending money wantonly keep on not worrying about others or trying to look rich or successful, because that will come in good time and as for the former, 'they will get theirs' , but always remember that as the boxer you are, you know punching just for the sake of looking busy doesn't win a fight There's fifteen rounds in this fight until the retirement bell rings and you're only just starting Round 1.

Pace yourself and the purse is yours. My 14 grandchildren average 20 years of age. I would love to lock them in to a quiet room and not let them out until they could pass an exam indicating they had read every one of these comments that I have just read. Those 61 years that have passed since I was 20 have really flown!

Hi Rodney, thanks for this great comment showing importance of life's lessons. If only our year-old selves would listen. Hi Leisa and Graham, Well done. And glad to have been asked to contribute. I am amazed to see my name alongside so many luminaries in the industry! I'm sure this will generate a lot of discussion in the industry press.

A really interesting read — lots of common themes there! I could literally hear him saying these words to me, no varnish there! Congrats on a great newsletter. It's the only one I actually look forward to and read completely. I can't recall not learning something new afterwards.

Well done to all involved. Key words and phrases which run through as themes: the power of compounding recognising you're not that smart patience is a virtue a sense of proportion is important and lacking in most 20 year olds. He's talking about exiting an underperforming manager, not exiting a badly performing asset that has lost significant capital value. Underperformance can be made up, especially over the time periods Chris is talking about. It also may well have still delivered a decent positive return over 5 years.

It's an appropriate time period, I think. I need only 60 words: 1. Understand compounding. Who gets paid and how. With you Tony.. Truly understand the compounding effect of of high ROE business's plus also I agree with Paul Moore, "if you've done the work, trust your instincts" or as Oscar Wilde said "I always pass on good advice.

It is the only thing to do with it. It is never of any use to oneself. Great read, what interesting ideas! Simrita Virk Shed Media. Congratulations to all at Cuffelinks on your th edition. This is an incredible achievement in a very tough market! Well done and please pass on my congratulations to all involved.

Keep up the great content! From a financial view, most earnings calls and stock picks are a waste of time. For most people, their investing would be better served in an index fund. So why bother with it? The best reason is because you enjoy it. In this second part on the reader responses with advice to younger people, we have selected a dozen highlights, but there are so many quality contributions that a full list of comments is also attached. From the hundreds of survey responses, here is a selection of tips, with others to come next week.

There are consistent and new themes based on decades of experience making mistakes and enjoying successes. With Australians retiring every day, retirement income solutions are more important than ever. Why do millions of retirees eligible for a more tax-efficient pension account hold money in accumulation? A fund manager argues it is immoral to deny poor countries access to relatively cheap energy from fossil fuels. Wealthy countries must recognise the transition is a multi-decade challenge and continue to invest.

Equity investing comes with volatility that makes many retirees uncomfortable. A focus on income which is less volatile than share prices, and quality companies delivering robust earnings, offers more reassurance. At around As voting continued the next day, it became likely that Labor would reach the magic number of 76 seats to form a majority government.

The Transfer Balance Cap limits the tax concessions available in super pension funds, removing the need for large, compulsory drawdowns. Plus there are no requirements to draw money out of an accumulation fund. Using the nine dimensions of well-being used by the OECD, and dividing Australians into Baby Boomers, Generation Xers or Millennials, it is surprisingly easy to identify the winners and losers for most dimensions.

With the focus on the cash rate of 0. The question for high-quality bond investors is whether to go fixed or floating for the best returns. Several cyclical companies are trading at valuation levels reflecting the certainty of an uncertain recession. As market uncertainty continues, it is more important than ever to have a sound investment process. To help with a long-term focus, it may be useful to have some guidelines to fall back on when the market noise gets too loud.

Over the past decade, we have seen sales of EVs go from a trickle to a steady stream of rapid adoption. We are now on the cusp of rapid expansion and have momentum to move the transport sector towards a path to decarbonization.

Disclaimer The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use.

You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication. This website contains information and opinions provided by third parties. Website Development by Master Publisher. First Name required. Email invalid Email required.

Recently trending. Too many retirees miss out on this valuable super fund benefit Is the fossil fuel narrative simply too convenient? Reece Birtles on selecting stocks for income in retirement Welcome to Firstlinks Election Edition Keep mandatory super pension drawdowns halved.

Sponsors About Register for free. Interest rates. Financial planning Insurance. Reader: "An island of professionalism in an ocean of shallow self-interest. Well done! What two investing insights would you give your year-old self? Always start with the investment logic then do the maths.

Rule 2. If the maths doesn't support the logic, change the maths. Make the most of the power of compound interest When you are young you have lots of time on your side to look through short-term setbacks in markets and get the benefit of the way investing returns compound on top of each other in an almost magical fashion over long periods.

Turn down the noise Over your investing and working life, there will be lots of ups and downs: economic booms and busts, financial market bubbles and crashes, periods of higher interest rates and periods of low rates. What have I learnt since then? Blue-chip shares come and go. It's all about asset allocation. Read, observe and think To be a successful investor requires work.

Investment markets move in cycles - always have and always will. Be counter-cyclical. Swings in market sentiment can cause asset prices to overshoot, up and down. Sensible diversification across and within the main asset classes reduces risk.

Borrowing to fund investments can boost returns — but raises the dangers. Find the experts and invest with them In most investment sectors, few investors materially outperform the index on an after fees basis in the long term. Read more and work smarter The one thing almost all great investors have in common is that they read far more than their peers. Thou shalt remember that leverage is a double-edged sword.

Thou shalt diversify. Thou shalt not invest in anything thou doth not understand. Thou shalt not buy tree investments. Money does not grow on trees. Thou shalt pay heed to fees and taxes. Some are too high. Thou shalt discern an adviser from a salesperson.

Thou shalt not worship false gods. Remember Madoff Ponzi scheme. Thou shalt not expect bull runs, nor bear markets, to last forever. Peter Thornhill, Financial Commentator, Motivated Money First and foremost, the two lessons I acquired either by nature or nurture: spend less than you earn and borrow less than you can afford.

Why people started businesses and the impact upon the progress of civilisation. Cash is King Look at the cash flow statement not the income statement. Cut your losses early The first downgrade is rarely the last and management teams are incentivised to minimise the impact of adverse events.

Greg Paramor AO, Managing Director, Folkestone Everyone comes to investing in different ways and at different times depending on circumstances. That escape lead me to set up a few rules: Have a plan — be disciplined and be prepared to take a profit or a loss if it reaches your hurdle or proves to be not in accordance with the original investment expectation. Investing rather than speculating is a marathon so be patient, but also persistent, in your long term plans.

Happy Investing! As an investor you need firstly to be patient, be prepared to wait as something will come along. However, with that to one side I would say the two best insights would be: 1. Move out of your parent's house and get off your mum and dad's payroll, and 2.

You have time on your hands so let compounding returns be your greatest asset Moving out of home and away from your parent's financial support is a great way to learn about budgeting, living within your means and the value of a dollar earned. What would I as an investor have done in ? Leisa Bell, Assistant Editor, Cuffelinks 1.

Graham Hand, Co-founder and Managing Editor, Cuffelinks Graham, my boy, you will be amazed over the next few decades at the incredible changes in the world, especially in technology, but how little progress will be made in investment management. My two pieces of advice are: First, learn to manage your emotional reactions to markets.

For your equity portfolio, you should combine three opportunities: 1. Build a core of direct investments in great companies you are happy to hold for many years. Warren Bird January 24, That's a bit harsh! Manny Sage May 07, 1. Juan May 07, Many thanks to all contributors and to those who responded for their insights. Pete May 07, A wonderful encyclopaedia for life! Alex Stitt May 06, What a spectacular th edition. Lemon Peeler May 06, Congratulations to Cuffelinks!

AB May 05, Great th edition and congratulations. Irene May 05, Congratulations for the th edition and thank you for the education you provide, for which I look forward in reading every week. Andrew May 05, Excellent set of contributions.

Steve May 05, Seek out people that under promise and over deliver. Jonathan Hoyle May 05, Wonderful insights into investing to celebrate Cuffelinks th edition. DougC May 05, Lots of good advice. PaulU May 05, 1. James B May 05, Thank you so much to all the contributors. Donald Swain May 05, This advice is the core of a handbook which should be taught to every 9th grader and upwards, and explained and examined 'till all know it backwards. Vince May 04, Very good read and insight into how many of us think and wish we had done, with similar essential threads throughout.

Bohdan Bej May 04, Congratulations on your th Edition and thank you for your valuable continuing education. Graeme May 04, Re "20 year old self". Peter Turnbull May 04, Discipline , diversity , patience , and the Power of Compounding are the main issues i would consider when starting out investing as a 20 year old.

Chris May 04, I would first tell myself to start investing earlier, because you will mistakes, but it's better to make mistakes now with "little money" rather than making them later with "big money". Rodney Gibson May 04, My 14 grandchildren average 20 years of age. Graham May 04, Hi Rodney, thanks for this great comment showing importance of life's lessons.

Warren Bird May 04, I am amazed to see my name alongside so many luminaries in the industry! Judith Fox May 04, A really interesting read — lots of common themes there! Bill May 04, Congrats on a great newsletter. Why I will never regret the bikini selfie that caused a storm Bob Saget's daughter Lara shares heartfelt tribute to her late dad as she marks Father's Day just five months after his passing at age 'He was my best friend' Gigi Hadid wears feathered mask and glossy red skirt while sister Bella drops jaws in paint-splattered dress at agent Luiz Mattos' 50th birthday bash Jamie Lynn Spears celebrates her daughter Maddie Aldridge's 14th birthday Ncuti Gatwa flashes his chest in a summery pastel pink co-ord as he makes an appearance at Prada show during Milan Fashion Week BBC Springwatch star Lucy Hodson reveals a man exposed himself at her while she was birdwatching - saying the incident left her 'shocked and terrified' Next year's Ascot hat?

Zara and Mike Tindall pose with huge bunch of colourful balloons - as they celebrate daughter Lena's fourth birthday 'Best dada! Singer stuns in a strapless white wedding dress as she arrives at her ceremony under umbrellas in Essex 'Thank you for being the best daddy': Jacqueline Jossa shares a tribute from her children to Dan Osborne as they spoil him on Father's Day 'Look what happened to me when I came forward.

Would you? Logies edition! Little Mix star announces the 'love of her life' got down on one knee Denise Van Outen wows in a black bodysuit and a funky hat as she takes to the stage at Isle Of Wight Festival Former TOWIE star welcomes a second child with boyfriend Tony Keterman Kate Lawler showcases her toned figure in a leopard print bikini as she and new husband Martin Bojtos soak up the sun on romantic honeymoon Hailey Bieber strikes a pose in a black leotard and semi-sheer tights for stunning YSL campaign Tropez as he promotes his Brown Sugar Bourbon liquor brand Katherine Schwarzenegger shares first look at her adorable baby daughter Eloise Surprising varicose veins remedies: Expert guide to treatments from blue light 'pen' to a foam pillow and At last common sense has won in swimming.

How will rail strikes affect me? From employee's WFH rights to refunds, what sectors will walkout and which There's an alchemy that means a four-inch heel can turn any woman into a goddess, says Camilla is right! Mauve is dull and menopausal Modern art was such a snooze! Rochdale grooming gang boss - known as 'Daddy' - worked as 'welfare officer' at Oldham Council: Damning Newborn baby boy 'with umbilical cord still attached' is found alive after being dumped in wheelie bin in Football star and his family are on holiday protected by his Mother weeps as man, 54, denies murdering her schoolgirl daughter, seven, who was stabbed 37 times and How world-first human trachea transplant that saved Sonia's life was nearly torpedoed Love me crew!

Paul McCartney and fashion designer daughter Stella, 50, lark about on luxury yacht in Mykonos Elon Musk questions whether TikTok or social media in general is 'destroying civilization' amid his Twitter Transgender athletes could be banned from track and field next, as World Athletics president Sebastian Coe Rugby league to BAN transgender athletes from competing in international events just days after they were The Golden Age of travel is over: All our lives, we've taken it for granted.

But now with airports in chaos, Inside year-old designer's VERY private romance with young Le lame duck: Humiliated Macron faces vote of no confidence as French voters make him pay for 'arrogance'

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