Hello.
My name's Satasha Nabananga Bamblet. I'm a proud or the
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 impactful tomorrow.
Let's get into it. She's on the Money, She's on the Money. Hello, and welcome to She's on the Money, the podcast that's here to show you investing isn't just for the rich, It's for you too. Now, what happens when you get two retired financial advisors in a room together. It's not a joke. Well, it actually turns out they can't not talk about investing. So we decided to hand control of this episode over to you, our beautiful community, to find out the biggest investing questions that are currently
on your mind. I'm Victoria Devine and of course I'm one of the two retired financial advisors because in the room today also joining us mister Glenn James.
Hello VD, and hello to all your listeners.
I'm so excited, Glenn, before we dive further in, I feel like a lot of the og she's on the money listeners are gonna know exactly who you are. Your dad, I'm mum. But for those of you who are maybe new to the pod, who are you, Glenn? How'd you get on the show?
Actually I read a review once yeah, and someone had to go at you have me on the podcast?
I would too, honestly paid me so much money to get in this room. It's priceless, honestly double what you paid last.
Time, exactly. I've known VD for many years. Unlucky we were on the financial advice scene. Kind of still are. In Australia. I run a podcast called Money, Money, Money. You probably know it as My Millennial Money, but I changed the name. It was Millennials. It's not cool anymore. It was in twenty eighteen.
It's not. I'm learning that I'm actually very uncool. And I was telling you just before that one of the people in my team has said, Victoria Devine, if you say slate again you're out. That's very millennial, canceled totally.
And we are talking about Sigma pharmaceuticals today.
We are, and I'm so excited.
That's the word, right.
Yeahs POTENTI Sigma Sigma and we got to say Diva instead of slack there. Yeah, absolutely. And they do not wear ankle socks, which you're not today. So I'm actually quite proud of you.
I don't wear ankle socks.
Yeah, because you're cool.
Not heapes. But yeah, So we love to talk about money. A lot of my listeners are also listeners of your podcast, and there's great overlap with our content. We both want good things for good people.
I like it well, Glenn. Our community delivered. They did not disappoint. We've got questions about everything, some of them I had to remove, but questions from how to actually invest regularly without getting stung by additional fees, like at what point does brokerage kick in to figuring out if your portfolio is actually balanced? What does that even mean? And we're tackling the age old question Glenn of when do you know it's time to actually change your strategy.
Plus we've got some spicy discussions on whether you should invest jointly with your partner, what to look for in a tech ETF, and of course all the buzz that is currently surrounding chemist warehouse. Now, if you've ever stared at your portfolio and have thought am I actually doing this right? What to stick around? Because we're about to break all of it down for you? All right, Glenn, let's just dive straight in. Our first community member said
Glenn Victoria. I want to invest regularly, but I'm so worried about racking up face. What is the best way to time my investments so that I keep costs low without sacrificing consistency.
It's a good question, and it's a valid argument in every area of our life. I have a car, A costs to run that car, but I get the benefits for having that cost in my life. It's no different with when we invest. We may need to pay for costs to do the transaction. We may need to pay costs to have a professional if we're going down that road. So we can't remove costs from our life. But I think it's important to understand the costs and make a
judgment call. I will say, when we get started with investing, you know you've worked with Sharess. There's plenty of investing apps that are very low cost relative to the money that you put in. There's an app Superhero. I think they charge three dollars per trade for a GTS deal, which at the end of the day, it's the cost of doing business if you want to any invest And we shouldn't be dictating our investing strategy by a tax
outcome by investing fees. Now there is a pendulum that swings if they're like, oh, if you invest one hundred dollars, there's fifty dollars in fees. Well, no, we're not doing that. But the winning point here is you are getting started, you are investing. And this is a crazy kind of comment that flies in the face with some money community
members out there who produce money content. There comes a point in your financial life where you can't expense, hack or reduce costs in order to get to financial freedom. But there's only so much you can do, so don't stress too much. Any of the big type of apps that you've heard of, I'm confident to say that, and this is a broad statement and.
With a broad brush general only.
Any of the big players that you see in Facebook groups sponsored podcasts, they're not going to be unscrupulous, and particularly I know UVD and for me on my podcast, we don't work with brands that we think aren't good on balance for a lot.
Of people, Like, if I am working with somebody, you can guarantee that I would use them personally, Like it doesn't mean I am because there's so many different players in the market, And like, if I'm working with a bank but I already have my banking set up with one, I'm not going to change to the other. But I wouldn't have an issue doing so. And I think that's a really important point to remember because both you and I we were actually having this beautiful conversation before we
started recording. We're talking about brands like that we'd recently said no to, and we'd never just throw brands under the bus. I'm sorry there's no tea there, but like just oh yeah, actually yeah, no, we're not working with anybody now pay later as that is all right. So, like, I mean more aligned brands, but there are some that both of us are like absolutely not, Like either we don't like their management teams, or we don't like their structure,
or we don't like their PDS. So, like, there have been multiple times that I have been like, your product is beautiful, My community adore this product, and I would love to support you, but your PDS says some things in there that I'm just not comfortable with, and like, I would never want just one person in my community to be tripped by those So.
And I think it's a good point you make, Like we're talking about product here and costs in the money world, and there's a question we maybe can go to that question now as I produce your.
Podcast on this You can do whatever you want, we can.
We need to talk about strategy first, and I'm a bit basic, So I like to use analogies to that car analogy where we buy a car and we have to pay on road costs and fuel before we worry about should I buy a car yes or no? Because there's fees involved. Let's go back. Okay, you need a car. Do you need something that's a compact suv? Lucy's in the studio with us today, so throw Lucy in the back of Do we need a little hatchback to zip around town? We can't get an electric car because I've
got nowhere to charge it. Do I need a Prato because we're doing an overland tour with the family. We have to work out the strategy for the car first, and that is I've nailed my strategy down to I want to compact suv. I'm going to get a hybrid one that's looking like a RAB four on balance whatever. So okay, awesome, Now we know our strategy. Then we can kind of dial in and look in that strategy.
We know a RAV four hybrid will suit our needs. Okay, can't afford the high We'll still get the RAB four of like a blue one. Can't find a secondhand blue one, I'm going to settle for a white one because on balance, that white RAB four still meets.
All of the criteria, all the needs.
Yeah.
So, and there are things that are nice to have, right, Yeah, I agree. And I think when we're talking about investing regularly, because you and I both on our podcasts say you need to be regularly and consistently investing, but also some of us just don't have the cash to be investing large sums of money. And at that point you might be a little bit confused because you're like, but Victoria, you talk about dollar cost averaging and the importance of
consistently being in the market. But then I also I am going to tell you, if you are investing fifty dollars a month and then you have your brokerage feet on top of that, perhaps that's actually a bit detrimental because yes, you're dollar cost averaging, but then it's costing you more to get into the market. We need to go, Okay, well, if my buddy for investing is fifty dollars a month, perhaps I actually invest maybe every three months and make
the most of brokerage. But the important thing here is that every single month you're still putting that money to the side. You might not actually make that investment transaction until you have one hundred and fifty dollars based on the maths that you've decided. All right, I'm happy to spend that, you know, three dollars in brokerage because it's a larger sum of money. Therefore it's a smaller percentage of the overall investment.
I like to tell people have a strategy, however small. So you've just said to me your strategy big picture, I want to invest for my future. I want to live on less mode, I earn and invest the rest that's your strategy. Okay, I've got fifty dollars a week to invest as part of my strategy. Awesome. Then what you've done, You've said, okay, fifty dollars a week investing. If I go to a traditional broker like your com set, your NAB trade, they may charge nineteen dollars per trade.
And I think that that's where people get a little bit caught up in like which is the best investment platform, and it's like, well, there's actually one that's is your strategy. There's actually no such thing because like someone could say it's com sec and then the reality of that situation is yeah for them, yeah, because they're happy to spend nineteen dollars a trade. And that works because you didn't realize they're investing four thousand dollars a month and that
nineteen dollars is actually such a small percentage. But they've made a recommendation to somebody investing fifty dollars a month. Can you imagine how much your profit is going to be eaten away if your trade is nineteen dollars but your investment is fifty dollars every month, Like that is detrimental to you creating wealth.
Yeah, so strategy always comes first. Then we look as part of the strategy potentially ownership structure. There's a question there about joint accounts.
We can perving on my list. I didn't give you a list. How do you know what's on my list? Emma showed you and as our producer, and she's too organized for me.
Strategy, ownership structure, product, which is the investment app or play?
What are we actually investing on? Then we can talk about ETFs or we can talk about the actual investment, which is actually where this leads. So I've got two questions. And one of our community members said, Hey, guys, I'm trying to build my portfolio, but I actually feel like I've just plucked the percentages out of thin air. How do I actually work out the right balance for your investments?
Because like, let's say we've picked our product and we are on an investing platform, and now it's time to pick our actual investments that we are putting money into. Glenn, let's start with a round number that I feel like a lot of our community use as an example. It doesn't mean you have to start with that because on a lot of investing platforms you can invest with as
little as one cent. But let's say you've got a thousand dollars, Glenn, because I feel like that's a sturdy follow your beginning.
Can we do ten thousand?
We can do ten thousand? Yeah, you rich Riach, I like it.
I was worried you're going to say, let's start with nine and twenty dollars.
Oh no, we only work in round numbers because I need to lull my community into thinking I'm actually good at maths, and I can only work with round numbers in my head. So let's do ten thousand dollars. How do we then go? All right, well, how am I balancing this?
Like?
Am I doing half half? Am I doing twenty five percent of each? What's that look like?
So? I love everything that we do in the money world. We do these podcast career. I love that we talk about investing the problem that we get online and whatever industry you're in. So we're in the money industry, if you're in the health industry, if you're in the fitness industry, if you're in the butcher baker, candlestick maker industry. When stuff gets online, the top line vibe of all that we do online is awesome. We want people to invest
for the future, stunning. The problem then sets in when we get down to other levels with different content creators is the nuance and people will get dogged on a point that doesn't make sense to get chess other people chest sponsorships one of them. So there's a school of thought where we get questions like this. People come in listen to She's on the Money. I listen to your podcast sometimes, why we we ack in?
Do you miss me? And you're like, I need to give vd's voice. Yeah, I hope you're listening to the Deep Dive so that you can learn as well. Yeah, fantastic.
So we get all this information and we're like, I've got to get started investing, and I'm new to the Facebook group. Someone has just said what percentage allication do I need? How do I build my portfolio? And I'm offensive and I get canceled every other week. There's a train of thought to say, with respect and care that if you don't quite know what percentages to make up your portfolio, how can you know how to manage a portfolio? Ongoing? Okay, so there's that.
I have a whole investing masterclass room, lease do that. Yeah, But also we need to answer the question on the podcast because otherwise we gate keeping exactly.
So that being said, you've got some options there, we do the portfolio in a box, your ETF. That's the one stop shop. So I focus on being good at my work. I've got my fifty dollars a week and I'm put into that and get on with my life. Then we go to the next step, which your lovely question is written in. I want to build a portfolio. I actually have learned about investing. I know that I can buy a single ETF with Australian Shares awesome. I know I can get an ETF with just American or
just Tech awesome. So the question is now, if you want to go down that road and have a bit of a DIY, sure, what percentages do we use? Aha, I've got an answer.
Don't know if it's the best that your risk profile.
It is, But I'm talking more simplistically. If you look into your superannuation account and have a look at index balanced option with any major superfund, they will show you what their research says is a good balancing their portfolio. Yeah, there might go yet thirty five percent International, twenty five percent Australian and a bit of property.
You could mirror that a cold restar profile. And that's actually something that in my investing master class I teach because it's like you have your risk profile and you would know when you do this with clients, Glen, it comes out with a beautiful pie chart. And I love to talk about pie charts because like I'm a visual learner, and we know that this amount should be shared, this amount should be property, this amount of cash, and maybe some like fixed interest assets, and I want that, but
I want it just for my share portfolio. And one of the best ways to do that is to look at superanuation breakdowns of what a low risk portfolio balance
putfall or a high growth portfolio is. And you will find more often than not, and this is a broadbrush statement again that if we look at a growth portfolio, because most of my community are growth investors from our research, you look at it and it goes all right, well, forty five percent international assets, fifty percent Australian assets, and then you might have five percent of like bonds or cash, and so you go, all right, am I comfortable with that?
Does that suit me? And we're not saying that that would, but it's a good example. All right, I'm going to now either build that out with individual shares and I'm going to take of my ten thousand dollars four and a half thousand dollars of that, and I'm buying international assets. Is that an international ETF? Is that international direct assets? Keep in mind, if it is ever international, you will never own it directly. I have an international ETF to
be clear. And then you've got your fifty percent. You could build that out with maybe like six or eight direction, or you could pick an ETF that makes sense to you. And I would say most people in our community, from our research, pick two different ETFs and then they might pick a bond. They might pick to keep a little
bit of cash. And we always say, and financial advisors will tell you that keeping cash in your portfolio is important, not because it's not invested and it's not working, but like you're going to have the ability to rebalance whenever
you need to. So with your weekly or monthly contributions, you'll be contributing fantastic, but one is going to grow more than the other, and you might need to tip a little bit of cash here or there to keep that balance and so that's what we mean when we say building a portfolio, or that's what we mean when
we talk about balancing. And I just get so passionate about that because I'm like, I can show you, like I need to sit you down and give you examples, because I'm going to give you this example, and it's going to be really constructive, but at night, not fit you. You need to go back and do the work to get the outcome. There's actually no hey, here's actually the answer.
So I think you've got your investing master class.
I do.
I would honestly say, and this is the best thing about investing. We can spend a whole hour talking about one question. If you are getting started, I believe the best and the first investment you should make is in your own education and understanding one hundred You're investing master class. It's under four hundred dollars.
That's a money win.
I would honestly say, invest in the master class, do the time, learn, then start your investing. In fact, I will to anyone who's on my Instagram that's going to look at maybe some of these clips, I'm going to donate three master classes.
Oh no, I'm going to do that. To you and then you can give them back or whatever.
I want to give away some masterclass, I will pay with my own money, okay, because I believe we need to understand first before we invest. Now, on that school of thought of whether we build our own portfolio, we do tweaks. We need to understand and work out whether we are a set and forget investor or we want to dabble and tweak. I would say I'm more of a set and forget investor. There is a disclosure here. Victoria and I are licensed by a company and they've
got an investment platform called live Sharper Invest. They have not paid for me to say this.
No, it's just a good pot.
I did a full deep dive on my show.
And we can link that.
Yeah, we'll link it in the show notes, so you can go to the live shurper invest website. They've got all the different portfolios so it can be like higher growth, growth balanced, and you can see all the ETFs that they invest in and the percentages. It's literally free, publicly available information now and I love that.
They do that one because transparent kings, but also I just love that they're like, no, we back ourselves, so much that you could go do this yourself or we could manage it for you. Diva, is that the right slag sigma shibbitty skibby gibbity gosh skibbity toilet.
Is not aging well. So the thing is in the deep dive I did with Vince. We did a campfire chat podcast the other day.
I lit into those I won't Yeah, so it wasn't for me because I listened to it on two time speed because both of you talk like snails.
It's that millennial pause.
Yeah, but like the pause happens after every word. So if you're going to listen to Glenn's content, that's fantastic. It's really good content speed.
Now, the thing is you can go to a super fun You can go to life share for invest and look at the assets and the asset allocation, but what if something changed is in the portfolio. You need to be on top of that. We talked about one of the Aussie equity funds. They made a change to a different manager. You just have to be on top of it.
So check out live Share to invest again. I'm personally going to be using that in my own money because I was a client then I started super fund and I'm now going to investing that in my superfund.
So that's exciting.
Yeah, I'm a big believer because of the transparency. I'm happy with the fees because they're not gouging, they're reasonable, and they take care of the investing. Yeah.
I feel like as X Advisors, we have gone through a lot of different phases where we go real aggressive with buying direct shares on our own. We want to control every inch of our portfolio, and then we go, oh, maybe we want to take our hands off and we do a bit of super stuff, or then we put our hands back on and go, oh, maybe I really
want to go into having just ETFs. And i feel like I've done the swings and the roundabouts of the last years and now I'm at a point where I'm like, you know what, I've got a few assets that are direct shares. They're fun, like you know, and I'm maybe having a little bit of a look at things. Most of my portfolio is too ets. Sorry now three ETFs International Australian and I'm calling it a day because I'm just exhausted with how much time, energy and effort goes
into managing a portfolio. Consistently and for what benefits, Like I'm achieving the same returns that a managed fund can.
Yeah, And I think the older we get, the more we look back and become a victim of the Dunning Kruger effect. Look it up Google Images. It's an awesome thing. You start out, you get really confident, you get ignorant. Then you realize that our craf I know nothing, and you kind of reset. I've realized in my life I'm a full time content creator. That's what my focus is on my podcast and my business. I'm outsourcing the investing, but if you want to do it yourself, you can
copy other portfolios. You just have to be onto it.
Yeah, one hundred percent, all right, Glenn, I want to know. Now, we've talked a lot about investing individually, but one of the questions we got from the community was is it a spart move to invest jointly with your partner or should it just be in one name?
I want to know your thoughts first, or do you want to know my first?
You can know my thoughts. Do you just want to know my personal strategy?
Well, I guess if your personal strategy is your public thoughts.
Here are both either I mean, I'm in a situation that is I would say privileged because if something should happen in my relationship and we decide not to continue it, which is not on the cards at the moment, but.
I think that anyone safe Steve for now.
Yeah, like I like Steve for now. He's in the good books. But if we decided to part ways, we both have the ability to continue to earn good income. I'm not compromised because I took you time to be a stay at home mum or like you know, made sacrifices for his career to flourish, like he has a solid career and so do I. So a lot of that conversation I think needs to come into joint assets, like you know, if you're staying at home, making a lot of sacrifices to put someone else's career first, Like
I don't want it to be in one name. I have an individual share portfolio that's in my name because I established it before I even met Steve, and while we're in that dating and like early lifestyle, as before we were married, I was still investing into that. We also have an investment portfolio that we own jointly, but we own it insider trust. And the reason we own it insider trust is because, and I'm just being really honest, I know that I have a lot of privilege and
I am very grateful for it. But I also need to point out I did work really hard for this, so I don't want to be shy that I've been successful.
Yeah, there is a thing out there, and it's called living in reality. I think I live in it. Most days. You're allowed to work hard and be successful.
Yeah, And I don't not of the detriment to others. Absolutely not. And that's why I'm proud of what I do every day, because my success has come from bringing other people up. But we also own an investment property. So inside our trust at the moment, which we established when we decided to, you know, kind of invest a bit more aggressively for our futures, is an investment property
and a share portfolio. And obviously every year those profits, if there are profits, get distributed to us and you know, we can reinvest and whatnot. And the reason for that is literally, because of historicals, there was no point me selling down my share portfolio to invest it into the trust because there would have been capital gains issues tax issues whatnot. I have stopped contributing to that portfolio unless it's like that portfolio holds the stuff that I like to have fun with.
That's a side quest.
Yeah, that's side adventure. But then inside our trust, the share portfolio that we have has a consistent the investment that goes into it in both of our names, and it is a joint asset and for us that works, so I think, and you would know this already. But the decision made there was a tax decision to hold it inside a trust because I am a high income earner and it's my husband position.
And I will say, family call will pierce any corporate veil. So if there is a family court property dispute, they'll open that trust right up. It's not protected.
It's not protected a way.
Yeah, so I think your comments I would agree with. And when you started talking, I've got a bit nervous. And then you said the T word trust.
You got nervous because I just own stuff in my personal name. You're like, what is she doing?
I got a bit nervous. My personal view is I don't think there's great benefit holding a joint investment account. However, it's technically for both of you not because it's owned by the trust that your beneficiaries. So if we move that aside. If you're not a self employed person, if you do not have a trust, and most people most of the time don't need a trust.
That is a shiny, fancy thing that essentially tells you that I own a significant amount of money and you're self employed. I think it's important to be transparent with you guys about that. I don't take it for granted any day of the week. And do you know what if it could be gone tomorrow, like I might lose literally everything, and that is okay, but that's the risk
you take as a business owner. I don't want to say that with the expectation that you then go, oh, my goodness, Victoria has a trust with her husband and that's what I should do, because that strategy might not fit, and nine times out of ten it won't fit.
I wouldn't in my own personal life have a joint account with a spouse or partner in terms of shares because the issue is there's really no flexibility, and particularly the state planning, I'd have to fact check myself it's one or the other. When you set up a joint brokerage account, you need to check with the brokerage to work out whether by default it's tenants in common or
joint tenants. So that means if you die, you need to just check if there is a joint share brokerage account, whether the registry say that one half goes to the state of the deceased or one half goes to the surviving person automatically, So check that. The reason also why I don't love joint share accounts. There's a philosophical side to this which I can get to. With the lack of flexibility. If two people have a genuine alternate risk profile,
it just gets a bit more confusing. If there is a separation and we did need to sever the assets, well, one sale lands on both people's tax return. There's just less flexibility. I went into it in great detail in the investing book that I think I was talking about last time. I think when it comes to money in investing your own share accounts, it's fine if there is
a broader discussion in your household. I actually put in my Facebook group a couple of weeks ago, does anyone want to come on the podcast and debate me on something that they disagree with me.
I don't know what I could come on the podcast and disagree with you from my version of me.
Yeah, and it's philosophical. In your household, do you share money or have you got separate finances. I'm of the personal view that the law says, if we're in a de facto relationship over eighteen months, and whether there's one hundred thousand dollars, ten thousand dollars, if it's in joint names, it's either. If it's in separate accounts, it's either. However, there is a carve out my own view is, and this is a tea for the debate I'll have with
my awesome listener. She's coming on to debate me because she thinks couples should keep their money separate.
And like fully separate, never together.
Yeah. I would agree on the principle, and the debate will be that there's no current record of any DV or anything like that.
Oh yeah, no, no, no.
However, I think is best practice if the law says you both own everything equal, practically, I think we need to have our own emergency funds in our own names. Okay, about how little escape money, and that's awesome, but I'm talking day to day.
Yes, Steve and I have our incomes come into one account together and we share everything. Like there's never a conversation of his pay versus my pay, Like we're always talking how income over time that has ebbed and flowed. There have been periods of our you know, shared life where we've shared and he's earnt more than me, and then years where I've earned more than him, and I can't tell you when that's happened because it comes into
the one account and then we deal with life. But we have always had our own spending accounts, We've always had our own savings, like to the side, so that that is kind of like a form of protection because we know that fifty percent of marriages ended divorce, right, So even though it's not very sexy and not very very valanty and we don't want it, Yeah, we don't want to talk about it, like we actually have to have these conversations because fifty percent of marriages end in divorce.
The other fifty percent, Glenn, end in death, which is why we need to talk about binding financial agreements. And then on the flip side, we need to talk about a state planning. So if you're not talking about either of those. You're going to at some point, irrespective of whether your relationship is successful or it doesn't work out, you're going to have issues if you don't have that documentation in place.
I totally agree, And this is where you know nuance is the first casualty of a face bok comment.
But you didn't take the whole situation into consideration, and it would have been much bigger than the Facebook comment would have allowed it.
Yeah, and that's why I want to unpack it with my listener when she debates me on it, because I think, yeah, business as usual day to day, we need to make the view. Are we married or are we de facto? Are we doing life together?
Yeah?
If the answer is yes, This why I'm getting someone on to debate me. I'm sleeping just as well tonight. If people disagree with me, awesome, I might learn something. They can disagree with me and sleep just as well. Awesome. We can all get along. I just like debating these ideas. So I think the debate is if we agree that we're doing this as a team together, the business as
usual rent, electricity bill, groceries, whatever, who cares. Let's have a joint account let's have our own individual splurge little fund money accounts. Awesome, but I think one hundred percent we need our own emergency savings in our own account. But back to the share question, and it's just a little bit more nuanced and annoying to have a joint brokerage account. Yeah, joint property, it's easy. There's one asset, we're selling it or not, yes or no. It just
can be a bit more complex. So I'm not a fan of joint investing accounts. The trust layer basically says the trust owns the account and the income can be distributed each year to wherever it needs the land. That's all good, But I think we're on the same page there.
I agree, and I think it's one of those things. When I was a financial advisor, it was definitely a school of not owning joint assets and setting up maybe two share portfolios, even though we had a little bit more brokerage. It would mean that there was structure. If someone wantly, we didn't actually have to sell our sets. You kind of just went your own way. And I'm very much a risk averse person as much as I'm
like I would say, a very high risk investor. I'm very risk averse because I just don't want there to be negative impact on people, and like you see it in lots of situations where they're like we had to sell the house because the other person couldn't afford to buy out, and so therefore we both lost. Like I just want there to be amicability where possible.
And that's the thing, like if you hear all this stuff and you have separate finances and live together and I pay for rent.
Because there's actually no one size fits all, do it. Yeah, we're talking about Glenn.
I'm not going to do it. And this is just my view, and it's worth what everyone.
Paid for it, yeah, which is millions trillions even. All right, Glenn, let's go to a really quick break because this has been good, but I really want to pivot into talking about Chemist Warehouse and what's going on there, so guys don't go anywhere. All right, Glenn, we are back, and I feel like we've been having a very good conversation about investing and philosophy and sharing money and sharing assets,
and it's been I think a lot of fun. We haven't answered that many questions, so you're going to have to come back again. I'm sorry, but we did have a community member ask us about Chemist Warehouse, especially with all of the hype that has been surrounding that business at the moment. Obviously, we can't say whether someone should invest in it or not, but I want to know from your perspective, Glenn, what makes a company like this interesting from an investment opportunity perspective.
Yeah, so most people would own Chemist Warehouse now because Sigma Healthcare basically hate them, et them, which was interesting because Chemists Warehouse was the bigger.
Company tried to eat them.
Yeah, but Sigma they do a lot of over the counter medications, medical supplies. They own like Amcow, Guardian Pharmacy, Distant Drugs.
They are a relatively big dog, but you don't know who they are because they are not called Amcow.
That's right. So basically Chemists ware House, and I think it's just important before we talk about the investing opportunity is just to step back. You know, they were valued at about ten billion Australian before the.
Merger, just a few dollars where.
Sigma was worth about a one hundred million, so ten times. It's an interesting world. In the pharmacy world. We know that Woolworths can't open a pharmacy. Coles can't open a pharmacy within the stores, which I think is good. But Chemists ware House, like, you go in there, you can buy literally everything but fresh produce. It's like full on, like the Priceline and all that.
So do you have the little fridges for your probiotics so that they're getting close?
Yeah, So I'm not really saying much here other than Chemists Warehouse, it's a retail store. They do chemistry things.
Like they do chemistry things.
But the investing thing, I think what we need to look at, and I don't play in the weeds of individual stocks. I would say, if you do the investing master class, you will talk conceptually about individual stocks. You'll learn potentially how to value individual stocks. There are a lot of free websites that will give a rating to individual companies, whether they think they're overvalued and they're rationale, whether they're worth a buy or not. But I will say,
and this is just what I do. I don't have more than ten percent of my equity portfolio in individual stocks because I want to buy the market. I don't want to try and pick winners. But if you are interested in the story, you look into it, you might shop there, and just because you shop there, it doesn't mean it's a good investment. I mean there's a bank that I bank with where it's actually a dog of a bank compared to the one down the road. As an investment, so I buy shares in the one down
the road and I bank with the other one. So we have to disconnect that. But if you're like, I love this story, I want to buy into Sigma. The chemist thing, it's a very interesting sector when you look at it, and if you've met any small businesses. Most pharmacies are small business owners and licensees and whatnot. It's an interesting industry and they are a genuine disruptor. Like medication that I takes like half price from chemists ware house.
It's actually a really solid business.
Yeah, but they've just taken the view we'll obviously get scale by buying the medications, probably not making much on them, but will sell the other vitamins, makeup deodorants. Yeah, I get my goat soap there, all that stuff. So the investment question is you'll find so much information online. It's a list company.
Do them research, yeah, because it's also probably in the ETFs. You're already purchasing.
Right and it's in your super already, you will have exposure.
I think it's interesting because a lot of you are already going to own Sigma, and you might not have paid any attention to Sigma until now, and you're hearing a name like chemists Warehouse and you're going, hold on, what does that mean? That's a really cool acquisition. And the whole purpose of the chemist Warehouse like framework working
is because it's low cost, high volume. Why everybody I know goes down to chemist Warehouse because their medications are genuinely cheaper, So you've got people hook line and sinker. I'm always buying additional things at chemist Warehouse because I'm roaming around the shop. I'm looking around, going what's going on while I'm waiting for my buzzer for my antidepressants.
You know, it is like I do feel it for the other self employed small business owners with their community pharmacy. That might be another franchise where they literally can't do the medication for that cheap.
And I get that, but I also think that we're talking from an investment perspective, and you know, Chemist Warehouse does franchise out so there are a lot of small business owners who own Chemist Warehouse locations, which is very cool.
And Chemist Warehouse shareholders now own about eighty five percent of the new company, which means that they are majority owners, which is kind of attractive, and there's an expectation in the market that it's going to then attract and this is why it's being talked about a lot attractive, very strong investor interest, because people are like, this was a privately listed company that we all thought was successful beforehand.
Now it's got in public because it is very dominant in it the pharmaceuticals.
Every day, a ten billion doll a whale it's private gets listed.
One hundred percent. Like if you've gotten to being that size and you have made the conscious decision to list, that decision would have been made because there is significant upside. They can clearly afford to scale, They can clearly afford to even go down to the bank. Because even companies like Chemist Warehouse might go down to the bank and get a loan to grow their business. They have the
backing to be able to do that. But when you list as a company, it puts significant responsibility back onto you as the organization. Do you have a proper board which you didn't have an obligation to have before, have proper governance, and actually report to shareholders. So there must need to be some very significant upside for what was privately owned company to list. Yeah, and I think that's so excited.
It's a good liquidity event for the private owners.
Anyway, they might have said, I just want some cash out and the only way I'm getting up.
Exactly a Melbourne story to start with.
Yeah, I believe. So all right, let's move off chemist warehouse because I know I'm running out of time with you. But we also promised that we would talk about tech ETFs, and we had a community member ask about investing in a tech ETF, but they weren't sure where to start because there are so many options out there, Glenn, what should we be looking for if we are looking for a tech ETF specifically, there are so many options out there.
I'm going shopping. I've made my decision, I have my product, I know what platform I'm investing on, but I looked up on I don't know cheress. I typed in tech ETF. Heaps of options came up. How am I picking?
I don't even know if I know the answer that. For me, it goes back to why do you want a tech etf to start with? Because sometimes it sounds shiny. Yeah, we asked these questions. I personally don't own a tech etf. Peel Back, the Young had a little bit the S and P five hundred. There's a huge tech waiting. You look at Nvideo, Microsoft, Apple, All these companies have such big waiting.
Yeah, we're talking about in a video on the podcast the other day. I think you don't realize how significant it is because they hold such dominance.
All these big tech companies your Google's, Tesla's, Borderline Tech. I've got enough exposure to them.
We've got tech at home.
Yeah, like I know, I can't go to bed without tech. My mum was saying that today she bought an earth sheet where they plug into the wall, it connects to the earth of the PowerPoint and you lay under it.
So anyway, Mum's gone to Lulu tech everywhere.
Am I right?
I'm going to be like, excuse me, but what are you talking about?
Earth sheet?
But sounds like you got scammed from a tisktok video.
Yeah. So if you do want tech exposure, the good thing is most of them will be an index, a lot of them will be a Nasdaq index. A lot of them will be listed in the US, because most of the big tech plays are in the US. And if we tie back to the question on fees, you could take the view that, Okay, there's three tech ETFs and I don't even know because I don't look at this stuff enough. I'll make examples up. There's one from
black Rock, there might be one from Beata Shares. That might be one from global X, there might be one from State Street. They all have the same tracking on the index. You might just go, I want tech exposure. I can see the index. I'm just going to go the cheapest. But having said that, the cheapest might be only a whisker away from the next one up. So again, I don't know the answer. Make sure if you want some exposure, maybe you see it as a satellite in
your portfolio. So you might say, Okay, I do want some extra tech exposure, but I'm not going to put more than ten percent of my portfolio into that because you will have overlap. You look at anyone who invested in the spaceship app. They got a real lesson about diversification and what a single sector tech investment will do when the going isn't good.
Yeah, and tech right now is doing really well, Like we're seeing returns of twenty even thirty percent in tech ETF. So I feel like that is potentially what is driving the interest and the need for a tech ETF because you go, the returns are incredible, but that is fleeting. Like I always say on the pod, when in doubt, zoom out, and when you're not sure about something like,
let's look at the bigger picture, what's their long term strategy? Like, what is your strategy purchasing this ETF You're going to be holding it for a long period of time or are you going to just like make hey, well the sun shining, which I wouldn't recommend, but I would be stepping back and picking the research house or the share trading platform first. So you mentioned before like Beta shares or Vanguard. I'd work out which one of those businesses
aligns to your values. You might go really love a Vanguard. Fantastic, Glenn, I'm so happy for you. Yeah, you like the color red cool, Well, let's actually hone it down and then just look at their offerings as opposed to every single offering on the market, or you might be purchasing a tech ETF because obviously purchasing direct shares of an international
asset is not actually the best idea. Like most people aren't going to go by direct shares in Apple because there's currency issues, there's a lot of things going on. You might want to pick an ETF, but you might be looking for a specific waiting so that you can say or you can own Apple. I would be looking at it that way. There's no best ETF. But I could sit down and write a whole blog post or to a whole podcast on it, Glenn of like, what were the best performing tech ETFs in twenty twenty four.
But past performance is not a reliable predictor of future performance, and therefore it would just be a conversation to have to see what happened historically.
Yeah, and I think it's interesting. Nevertheless, I mean, if someone is on the train or going for a walk, just pull up Google Now and search Intel share price, and just in the top Google chart, click maximum and so you'll see in the early two thousands, Intel did a lot as and videos kind of currently doing and then you'll see it kind of come off. So yeah, I don't have huge overexposure to the tech ETFs.
I feel like this has been fun chat. One last question though, I want to know, Glenn, what is one investing myth that is currently driving you mad?
Oh.
I don't know about you, but I am a tragic on TikTok. Like most of my screen time is spent on TikTok. And I'll say that, but like, I'm not proud of it. I'm just sharing. And the amount of investing content I see that, I'm like that is terrible with advice and I have to scroll on because I'm not going to get in DM comment arguments. But what's been annoying Glennie James Race.
Gosh, I'll just give caution to any type of things that you know people are like sell the farm, go all in on crypto or bitcoin or get rich asap type stuff. Yeah, I think that's probably what annoys me. If something worked for one person, it doesn't mean it's going to work again, and we can all fall into this trap. I picked a winner here doesn't mean I can do it again. And if someone's on TikTok going, you need to put all your money to bitcoin if
you want to build your financial future. Absolutely not, Nah, maybe have a small allocation here.
We're not saying it's terrible, but there seems to acentration.
Less is more. You don't have to over engineer you're investing portfolio. You'll make more money from your job and your career than you're investing account at the moment, So focus on what makes more money in your life and you'll be all GTG.
I like that. We did get a few questions through, actually, Glenn that we covered in our last Q and A with you, So if you're wondering about things I mentioned earlier, So if you've been thinking about chests sponsorship, or investing in international markets, or graduating from micro investing platforms to big boy platforms, or even we spoke about investing for kids last time. I'm going to make sure that that episode is linked in the show notes so you can
check that out and get more Glenny James content. Glenn as always, what a pleasure. I'm so grateful to have you in my brand new studio.
I love it, and it feels like a better conversation than sitting at that desk.
I know, I love it. I feel like it's a lot more relaxed. I feel more relaxed, like I don't leave the studio feeling exhausted anymore.
This is we're just having a chat. We're not doing a podcast. I think that's the difference.
Yeah, that's much better. All right, Well, thank you for your wisdom. For anyone who wants to hear more from the Glenn James himself, where can we find you?
You can search money, money money wherever you're listening to this. And I've got to get Von to do MLM episode for Mike.
I cannot wait. We've been talking about this because so long. And if you guys think I'm over multi level marketing, you're wrong. I just haven't had time.
We need to get you on my show.
I'm excited. All right, we are done. But if you've been listening to this and you want to get investing, my next intake for the Investing master Class is open now. Masterclass is going to open its doors and start on the first of April, which I'm really excited about. The link is going to be in the show notes for that. And of course, if you loved this episode, make sure that you're following the podcast so you never miss an
update from us. Hit that subscribe button, leave us a review if you're feeling a little bit generous and come hang out with us in the She's on the Money community on Instagram, because that's where we do all of our callouts for questions for episodes just like this. We love hearing your questions, so keep them coming, my friends. That is it for us, Glenny James, goodbye, happy investing, and we'll see you next time. Byebee did buy shared on Sheese on the Money is general in nature and
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