This week, I interviewed 3 of Australia’s finest investors as part of The Australian Investors Podcast series.
My favourite question, which I ask all of our guests, is this:
“If you could go back in time and tell a younger you just 1 thing about investing what would it be?”
Now that we have 3 episodes live — and 3 more interviews are waiting to be published in the next week — a pattern is starting to emerge.
So far, the advice has been:
- Be humble
- Be curious
- Think long term
But the most common answer is this:
“Never Forget The Power Of Compound Interest”
Here are three investing videos that the team and I at Rask Finance have put together for beginners.
Unfortunately, the power of compound interest is often noticed when it’s too late. Click here to learn more.
Failing to diversify is the number-one reason many poor people stay poor, in my opinion. It’s not always possible to diversify — and there are times when it shouldn’t be done. But it’s an important finance concept everyone needs to understand. Learn more.
The Difference Between Price & Value
There is a difference between the price of something and its value. For example, if a pair of Nike shoes was priced at $100, you would only buy the shoes if you thought they were worth more than $100.
The same principle holds in investing.
It’s a little harder to determine the value of an investment, but it can be learned. We created a free course on the topic.
I believe the best way to secure our financial futures is to invest for the long-term.
If you can pay yourself an hour each day and spend the time reading, listening to a podcast or taking a course I believe it’ll be the pay the best dividends.
Lead Adviser, Rask Invest
Disclaimer: This article contains general information only and should not be relied upon. It does not take into your needs, goals or objectives. Please consult a licensed and trustworthy financial adviser before acting on this information. Owen is the Founder of The Rask Group. Please read The Rask Group’s financial services guide (FSG).