Wealth creation strategies, topics and specialties

How can you build wealth, make more money? Find out here.

It’s challenging doing a money makeover, budgeting and planning. Even more of a nightmare knowing where and how to start investing. Who can you trust with your money, your lifestyle, your future?

You’ll find loads of products and services on wealth creation (money, finances, budgeting, spending, planning, investing and more) on the internet, media and elsewhere. 
BiG shows you as many of them around as we can in the lists of Wealth Gurus and Analysts and Commentators, their products, services and quality that vary substantially.

Here in Strategies and Topics BiG gives you an overview of the resources available out there, to help you get started. Such as:

  • Choosing a financial planner or adviser
  • Choosing asset classes, such as Property, Shares, Commodities, Funds (eg ETFs, LICs)
  • Superannuation
  • SMSFs (self-managed superfunds)

You’ll find Tribes, experts and gurus throughout BiG, below are some of them in the wealth creation industry.

(Don’t forget to check out BiG’s ratings of experts and gurus and what the analysts may say, so you can be confident in them and their strategies. Just because someone’s popular, or great at marketing, doesn’t mean they’re the ‘best’ investment guru.)

If a strategy, topic, specialty or asset class, you’re interested in isn’t here,

check out these other BiG areas.

Because wealth creation’s often a mixture of:

Check out these Wealth Creation Strategies 

How much money do you need to start investing?

10 top investments for young Australians in 2021, Rate City

7 Top Investments for Young Australians in 2021, Canstar They say: “Start sooner rather than later
We’ve all seen the Compare the pair ads where Alice and Bob both make the same salary but Alice’s super provider has a better return, and by the time they retire she has thousands more in her account than Bob. Compound interest is a strange and powerful force and over time can make a huge difference to your investment. If you were to start saving while you’re young, even if it’s only a small amount, you’d have time on your side to grow your money. A little now can add up to a lot later, especially with the help of compound interest. You can start investing with as little as $500 in an exchange-traded fund or $1000 for a managed fund.”

Investing $5,000 when you don’t want to keep it in the bank, ABC Everyday, Patrick Wright

MILLENNIALS (currently 25-40yr olds)| "FIRE' Financially Independent Retire early| Setting goals| Investing guides| Superannuation

How different generations see and treat each other, their money attitudes and finances. Boomers vs Gen X’ers vs Millennials and more – some facts and fiction.

What life and money information interests and impacts on you depends on many things like: your age, life stage, circumstances and the lifestyle you want.
Seeing how other like minded people are living their lives, how they’re managing their money, investing and where they get their information can help you decide for yourself. So too can looking at others, with more knowledge, experience, generations, or people who’ve made mistakes you can learn from.

Throughout BiG we focus on resources and current issues impacting on Millennials. Largely because 25 – 40 yr olds are at a stage where they’re making huge life decisions, changes which can impact enormously on them now and in the future.
They’re a huge and important proportion of the population, increasingly being targeted by the money, finance and lifestyle industries and marketers.
Check out the information below to understand some of the issues, particularly intergenerational.

Millennials according FEE [The Foundation For Economic Education USA] – a lot of articles on Culture, Economics and Education
Try their Quiz: Which Generation’s Money Habits Do You Match?

Boomers, Gen X, Gen Y, Gen Z, and Gen A Explained [USA] Kasasa They say:

  • Baby Boomers: Baby Boomers were born between 1946 and 1964. They’re currently between 57-75 years old (71.6 million in the U.S.)
  • Gen X:  was born between 1965 and 1979/80 and is currently between 41-56 years old (65.2 million people in the U.S.
  • Gen Y:  or Millennials, were born between 1981 and 1994/6. They are currently between 25 and 40 years old (72.1 million in the U.S.)
    Gen Y.1 = 25-29 years old (around 31 million people in the U.S.)
    Gen Y.2 = 29-39 (around 42 million people in the U.S.)
  • Gen Z:  is the newest generation, born between 1997 and 2012. They are currently between 6 and 24 years old (nearly 68 million in the U.S.)
  • Gen A: Generation Alpha starts with children born in 2012 and will continue at least through 2025, maybe later (approximately 48 million people in the U.S.)

What separates Generation Y from X? And hey Gen Z and Gen A, welcome to the party! What’s the cutoff? How old is each generation? Are they really that different?…  If you’ve ever felt muddled by this “alphabet soup” of names — you’re not alone. The real frustration hits when you realize that Millennial consumers represent the highest-spending generation in 2020 — with a projected $1.4 trillion tab. And though their current wealth has been dragged down by not one but two “once-in-a-lifetime” economic crises during their most impactful career years,
Millennials stand to inherit over $68 trillion from Baby Boomer and early Gen X parents by the year 2030, setting them up to potentially be the most wealthy generation in U.S. history.
Generation Z isn’t far behind, projected to hit $33 trillion in income by 2030 — that’s more than a quarter of all global income — and pass Millennials in spending power the year after.
And coming up last but not least is Generation Alpha, the name given by social analyst Mark McCrindle to the youngest children on the planet. By the year 2025 there will be nearly 2 billion members of Generation Alpha across the globe.
No matter how you slice the data, the younger generations have never been more critical to your financial institution’s future.
Unless you understand who they are and what they want, you won’t capture a dollar of their money.”

Here’s a fun article 11 Awkward Money Questions Gen Z’ers Had For Millennials (And Their Answers), Buzzfeed, Jasmine Suknanan.

A good read (here’s a YouTube Review)- The Defining Decade, Why Your Twenties Matter and How to Make the Most of Them Now USA Meg Jay (Clinical Psychologist) says “Our ‘thirty is the new 20’ culture tells us the twenty something years don’t matter… Dr. Meg Jay argues that this could not be further from the truth.
In fact, your twenties are the most defining decade of adulthood… the latest science of the twentysomething years with real-life stories to show us how work, relationships, personality, social networks, identity and even the brain can change more during this decade than at any other time in adulthood. Smart, compassionate and constructive, The Defining Decade is a practical guide to making the most of the years we cannot afford to miss.”

7 Top Investments for Young Australians in 2021, Canstar, Marissa Hayden,
What to do before investing in:

10 top investments for young Australians in 2021, Rate City

19 WAYS TO INVEST IN YOURSELF THROUGHOUT YOUR 20’s, The Cusp, Esther Semo

An investment guide for your 30’s, Eureka Report

Financially Independent and Retire Early (FIRE)

  • Rask – Check out their  FIRE Mega Course 10-Step Free Financial Independence Ultimate Course and more.
  • Aussie Firebug They say “Aussie Firebug is an anonymous blog detailing the journey to financial independence through investing in real estate, low-cost index funds and Super. By investing at a young age and consistently it is possible to reach a point where your investments pay you enough money to live off. Once you get to this point you are financially independent (FI) and can retire early (RE) or do better things without the constraint of your job…[I] am trying to condense the 45 years of reckless spending into 5-10 years of aggressive saving/investing in order to reach the retirement part years ahead of the current trend. I will be blogging about my frugal lifestyle and investing techniques along the way to reaching financial independence. ” and Podcast.
  • Aussie HIFIRE They say: “This is a blog about having enough money to have a high income and be financially independent after retiring early, or HIFIRE for short.”
  •  Strong Money Australia and their FIRE&Chill Podcast they say: “we break down exactly how to reach Financial Independence and Retire Early in Australia. We cover everything from saving, spending, investments and living a great life.
    Our favourite bits from the show are uploaded regularly to the FIRE & Chill YouTube channel
  • Millennial Revolution (Canada)

Millennials and Money, Goals, Property, Superannuation, Investing, Technology and more…

Why millennials are turning to super and investment platforms, Cate Cowling, Money Magazine (Aus)

MarketLit Investment Conference [You Tube] This goes for a few hours – grab a coffee, skip through to videos that interest you. Has a lot of great interviews, ideas, tips. They say: “Friday 2 July 2021 – The Capital Network is proud to bring you MarketLit, Australia’s First Financial Influencers, Millennial and Gen Z Investment Conference. MarketLit brings together leading financial influencers, market experts and ASX-listed companies to discuss the key investment themes and ESG (Environmental, Social and Governance) issues that emerging investors care about. Change is coming and MarketLit is here to show the way forward.
The world is preparing for one of the biggest transfers of wealth in history – from Baby Boomers to Millennials and Gen Z who place significant importance on ESG.
* Almost 45 million US households will transfer a total of US$68.4 trillion in wealth to their heirs and charities over the next 25 years. Millennials stand to be the primary beneficiary of this transfer and it is expected that by 2050, they will replace Baby Boomers as the generation with the greatest wealth. [US research firm Cerulli Associates]
* In Australia, millennials will inherit around A$3.5 trillion from Baby Boomers over the next 20 years. [Online share trading platform Nabrade]
* 86% of millennials are interested in sustainable investing and millennials are twice as likely as the overall investor population to invest in companies targeting ESG goals [Morgan Stanley]”

Glen James (Aus), Sort Your Money Out; and podcasts My Millennial Money and My Millennial Business
5 ways to have more money| Glen James shares 5 tips to have more cash – Millennial Money or watch on YouTube

Why it’s important for millennial investors to define their goals -The Motley Fool, April 2020

Creating an investment plan and Investment Policy Statement (IPS) – Passive Investing Australia

Millennials struggle to invest, but property top priority Ross Fox, FirstLinks Morningstar.
Morningstar’s got lots of great research into areas millennials are interested in investing in, so fund managers can target them!
See THE IMPACT OF TECHNOLOGY ON INVESTMENT FUNDS an extensive survey of 3,000, 22-34yr olds around the world cited in Morningstar.

How to Buy a Property in the 21st Century, Broke Girl, Instagram

Managed Funds| Exchange Traded Funds (ETFs)| Index Funds, Listed Investment Companies (LICs) and others

Passive vs active: How millennials are investing their money, Kate Cowling, Money Magazine (Aus)

WHY EVERYONE SAYS ‘BUY ETFS’, BrokeGirlWealth

Choosing a managed fund MoneySmart (ASIC)

What is Compounding? Many say - It's magic!

The power of compounding is that it makes your money (and debt!) grow faster. This vital concept can make, or break, your financial success.

The most important money lesson you’ll ever learn [You Tube] – wise Noel Whittaker shows you how compounding works and why starting early can make a huge difference to your future.

Watch Introduction to interest | Interest and debt | Finance & Capital Markets | Khan Academy USA

MoneySmart (ASIC) Compound Interest Section says:

The power of compounding helps you to save more money.
The longer you save, the more interest you earn.
So start as soon as you can and save regularly.
You’ll earn a lot more than if you try to catch up later.

For example, if you put $10,000 into a savings account with 3% interest compounded monthly:
After 5 years, you’d have $11,616. You’d earn $1,616 in interest.
After 10 years you’d have $13,494. You’d earn $3,494 in interest.
After 20 years you’d have $18,208. You’d earn $8,208 in interest.

How does compounding work? Have a play with their Compound Interest Calculator.

Compound interest formula
To calculate compound interest, use the formula:
A = P x (1 + r)n

A = ending balance
P = starting balance (or principal)
r = interest rate per period as a decimal (for example, 2% becomes 0.02)
n = the number of time periods

How to calculate compound interest
To calculate how much $2,000 will earn over two years at an interest rate of 5% per year, compounded monthly:

1. Divide the annual interest rate of 5% by 12 (as interest compounds monthly) = 0.0042
2. Calculate the number of time periods (n) in months you’ll be earning interest for (2 years x 12 months per year) = 24
3. Use the compound interest formula
A = $2,000 x (1+ 0.0042)24
A = $2,000 x 1.106
A = $2,211.64

7 Top Investments for Young Australians in 2021, Canstar They say: “Start sooner rather than later
We’ve all seen the Compare the pair ads where Alice and Bob both make the same salary but Alice’s super provider has a better return, and by the time they retire she has thousands more in her account than Bob. Compound interest is a strange and powerful force and over time can make a huge difference to your investment. If you were to start saving while you’re young, even if it’s only a small amount, you’d have time on your side to grow your money. A little now can add up to a lot later, especially with the help of compound interest. You can start investing with as little as $500 in an exchange-traded fund or $1000 for a managed fund.”

Check out money and investing legend Noel Whittaker’s work and other analysts and commentators such as  5 Great Charts on Investing – Priority1 Wealth acknowledging Dr Shane Oliver, Head of Investment Strategy and Chief Economist AMP Capital.

Michael Kemp (a wealth expert) is a big fan of the power of compounding returns.

The Magic of Compounding Interest, SAM [USA]

ESG (Environmental, Social and Governance)| Ethical Investing - climate change, greenwashing and more
  • Want to grow your money responsibly? Responsible Investing Association of Australia (RIAA),
    ‘they say’ their Responsible Returns certification process “helps you find, compare and choose responsible and ethical superannuation, banking and investment products that best match your interests. Whether you want your money to support healthcare and education, or rather, avoid your money being invested in fossil fuels or animal testing, Responsible Returns filters products based on your areas of interest and location. All of the products and funds that feature on the Responsible Returns have been certified in accordance with RIAA’s Responsible Investment Certification Program which tests whether a product or fund’s investment intentions and processes are consistent with its responsible investment claims. While organisations and individuals pay RIAA a fee to apply for certification, RIAA receives no commission for the promotion of products and funds that have been certified.
    Responsible Returns works best for those wanting products in Australia and New Zealand, but we do also have a number of certified investment products that have a global reach.”
  • What are some ESG funds? such as Australian Ethical Superannuation
  • What is ‘greenwashing’ in finance and how can you spot it? – Canstar


    Climate change:

    An Australian man successfully sued his super fund over climate risk. Here’s what that means for your nest egg Anita Foerster, The Conversation

Property vs Shares

Why invest in shares – some ‘pros’:

  • liquidity
  • low entry and exit costs
  • little active management
  • enter the property market through vehicles such as real estate investment trusts (REITs/(Australian) AREITs) and Exchange Traded Funds (ETFs)

Why not to invest in shares – some ‘cons’:

  • volatility/risk
  • lack of personal control and ability to add value
  • too much or too little knowledge and understanding about the company, its business, its board and management

You might invest in shares because you’re not comfortable investing in property because of:

  • pressures on borrowing, affordability and capital growth – in current financial times (see Michael McNamara below)
  • property bubbles (see Michael McNamara below)
  • the need for active management
  • vacancy and tenancy risks

Commentary and resources:

Risk

13 investing and risk terms you need to understand – Julia Newbould, Money Magazine

Free risk profile test: Bruce Brammall – Risk profile for dmw.com.au

Superannuation AND RETIREMENT| How much do you need?| Women and Superannuation| Buying property in superannuation

For superannuation for younger peeps check out too BiG’s accordion above: Millenials (25-35yr olds)| “FIRE’ Financially Independent Retire early| Setting goals| Investing guides

Check out these Wealth Creation topics

Achieving goals, brain training & critical thinking

Mark Bouris podcast– love it! F#* goals and goal setting – ‘lofty ideals’ better!

Dr Stephanie A. Burns: Some interesting ideas about goal achievement  and Life exerts itself  – just in case you meet obstacles in achieving your goals.

Neuroplasticity and brain training:

Podcasts you will love: Music for your ears and food for your brain Erica Davis, Women’s Agenda

Todd Sampson – can modern science turn your brain into a super brain? TV series Redesign My Brain

Qi. – No such thing as a Fish (podcasts)

Critical Thinking | Information and the Internet:

The Internet Makes Us Stupid and Here’s Why by Kabir Sehgal-  Fortune

How to teach students to think critically

Dreams and passions:

Dr Seuss Oh, the Places You’ll Go at Burning Man!

Alan Watts: What if money didn’t matter

Dr George Blair-West “Did he live with passion?” “The Greeks, when someone died, asked one question: Did he live with passion? … I attended the funeral of a close friend of more than 30 years who suicided … under the influence of the most severe, treatment-resistant depression I have ever come across…. part of a larger, complicated condition of Bipolar Disorder…”

The Banking Royal Commission (aka The Hayne Royal Commission|

Five must-read books on the banking royal commission Susan Healy, Moneymag She says: If you have a bank account, insurance policy, and financial planner or belong to a superannuation fund, you want to avoid the wrong ones. One way is to understand the DNA of the companies behind these financial services. But up until last year, journalists had limited evidence of bad practices, extortionate fees and detrimental, inflexible terms.Enter the royal commission into misconduct in the banking, superannuation and financial services, along with commissioner Kenneth Hayne and his legal team. They uncovered so much corruption, self-interest and excess that an estimated $10 billion compensation will be paid to back to customers.
Banking Bad, Adele Ferguson
A Wunch of Bankers: A Year In The Hayne Royal Commission, Daniel Ziffer
Money Spinners, Annelise Nielsen
It’s Your Money, Alan Kohler
The People Versus The Banks, Michael Roddan

Covid-19 and other disasters |Help with Financial decisions after bushfires

Financial and other impacts of Covid-19 and other disasters

Help with financial decisions after bushfires

Managing your money after a bushfire (YouTube) MoneySmart (ASIC) and Scott Pape (plus others in the 6 video series )

Financial Literacy, Teaching and Learning about Money| Your Money Mindset (Psychology) and Values| Managing Your Money

Financial Literacy, Teaching and Learning about Money

The National Financial Literacy Strategy is led by the Australian Securities and Investments Commission (ASIC).They say: “It provides a practical framework for action to guide and encourage all those with a role to play in improving financial literacy for Australians. Improving financial literacy is a long-term behavioural change initiative. It requires a multi-faceted approach and sustained action over time to bring about gradual improvement.”
It shares its extensive research on a broad range of topics including –
Australians Understanding Money

[UNFORTUNATELY they’re retiring the site from 30.7.21 and refer you to MoneySmart for Adults, FDIC] Smart About Money (SAM) [USA] – They’ve got great free resources – money courses, a Life Values Quiz and more.
They say: “You try to be physically healthy. Watch what you eat. Exercise. But are you doing the right things to be financially healthy too? Consider the experts at Smart About Money your partners in financial fitness and long-term wealth health.
Smart About Money is one of the many programs of the [USA] National Endowment for Financial Education®. NEFE champions effective financial education. We are the independent, centralizing voice providing leadership, research and collaboration to advance financial well-being. As one of the first organizations to wholly dedicate its efforts on improving the effectiveness of financial education, we continue our legacy of strengthening action-oriented research agendas, mobilizing intermediaries, and creating better solutions for researchers, educators, practitioners and policymakers.
Nonprofit. Noncommercial. Unbiased.
SAM is trustworthy, dependable and knowledgeable — did we mention SAM stands for Smart About Money? It’s a free, unbiased resource where you can find in-depth personal finance courses, articles, calculators and tips to help you manage your money through life’s ups and downs.
Dedicated team. The SAM editorial staff is committed to delivering accurate and unbiased information to help you save, protect and grow your money.
Trusted content. NEFE does not receive funding from any bank or investment firm. You can trust our unbiased resources.”

5 Key Factors for Effective Financial Education, NEFE, The National Endowment for Financial Education , [USA]

Take a look too at all the fab resources in the Tribes section below eg  MoneySmart – the videos, articles, tips and hacks

Your Money Mindset (Psychology) and Values

What’s your money personality?, Marie Claire [a lighthearted quiz]

What’s your financial identity are you a Pathfinder, Trooper, Nomad or Tenderfoot?  Take this Financial Identity Quiz [SAM, USA *Unfortunately the site’s being retired from 30.7.21 so resources might not be available from then]
They say: “As we make the transition from our teenage years into adulthood, we begin to define who we are in relation to our friends, relatives and cultural influences. Your identity — an understanding of who you are — gives meaning to your daily life, provides a sense of personal control, and helps you successfully navigate the demands of living in today’s complicated society.
Financial identity is a person’s understanding and expression of who he or she is in relation to managing and practicing personal finance. The goal of this quiz is to help you understand the process through which you come to your financial identity, as well as how your identity shifts and changes over time.
Your financial identity (Pathfinder, Trooper, Nomad or Tenderfoot) is determined by your answers to 12 questions about your behaviors and beliefs when it comes to money.
Financial identity is not necessarily fixed — you may move from one identity to another at different stages in life. Knowing your financial identity may provide insights into what you need to become fully financially self-sufficient, an important goal in the transition to adulthood. Learning about your current financial identity gives you a great starting point for improving your financial skills and achieving your money goals.

Managing Your Money

Improve Your Savings and Money Management with this Quiz, ABC Everyday, Isabella Krebet

MoneySmart’s (ASIC) Budget Planner (includes a spreadsheet) and How to do a Budget

Kids and Money| Teaching your sons and daughters| Teaching kids about money - MoneySmart Resources

Teaching Kids about Money ASIC MoneySmart and some AMAZING Teaching Resources – all FREE

Nicole’s Smart Money Start [SMS] for high school students, Nicole Pederson-McKinnon, she says “[SMS] educates and enthuses high school students about the make-or-break topic of money. The multi-media financial literacy presentation dovetails with content in the curriculum. Nicole has worked closely with Paul Clitheroe, Financial Literacy Australia and ASIC, and is an official presenter on the government’s financial literacy website MoneySmart. Smart Money Smart features television segments, apps, social media and unique online-forecasting tools that show students exactly what they could achieve and when. Nicole also shares stories and shows clips of her work with Rove, Kochie, Tracey Grimshaw, Larry Emdur and 7News.It is suitable for cohorts from Year 9 to Year 12 and runs the length of one lesson or longer. A presentation specifically tailored for female students, dealing with their particular financial challenges, is also available.”

Watch Nicole: Why I’m passionate about getting Aussies MoneySmart
What to teach our daughters about money, SMH, Nicole Pedersen-Mc Kinnon

Journey Skills Leading Young People With Additional Needs Toward Greater Independence, Debra and Graham Caldow

Khan Academy You Tube [USA] and Website

What Insurance do you need?

Life, TPD, Trauma, Income Protection

4 key questions to get your insurance right by Christine St Anne Switzer Daily

Women – money, leadership, business and investing

One of many™ Website, Blog, Podcast.  They claim [to be] “women leading the change they want to see in the world”. Some of their stuff:
How Does Money Stop You Making a Difference? (Podcast) Joanna Martin and Ann Wilson

Ellevest (USA) They say: “A new way to money Invest, bank, and do more for your career. Ellevest was built by women, for women. The financial industry wasn’t.. Ellevest is a financial company on a mission to get more money in the hands of women… Founded in 2014, Ellevest is led by CEO and Wall Street veteran Sallie Krawcheck, who realized that financial products weren’t serving women. Ellevest’s monthly membership provides access to personalized investing tools, banking services, coaching expertise, and learning resources. Ellevest also offers Private Wealth Management for those looking to invest [US] $1M or more. The company is made up of a diverse team from product, engineering, design, and finance backgrounds. In 2018 and 2019, Ellevest was named to LinkedIn’s list of top start-ups and CNBC’s Disruptor 50 list..”

MoneySmart (ASIC):
Women and Money Infographic
Women’s money toolkit
Women with Cents
The secret to Warren Buffett’s success? He invests like a woman
8 TED Talks women need to watch

Some great articles: (Any you want to share? I’ll add more as I find them)
50 Motivational Quotes From Disruptive, Trailblazing, Inspiring Women Leaders

Some Wealth Creation resources, Tribes, experts and gurus

Managing your Money and Wealth Creation - saving, loans, micro-investing, credit scores...|Apps| Articles |Blogs |Books |Courses| Forums |Podcasts | Twitter |YouTube...

Some popular Money and Investing sites, hubs, blogs, podcasts and courses:

  • Financial Capability implements The National Financial Capability Strategy. They say: “led by ASIC, Financial Capability informs and drives actions to improve the financial capability of Australians. [it] identifies three behavioural areas in which Australians can be empowered to take control of their financial lives:
    Managing money day-to-day
    Making informed money decisions
    Planning for the future
  • Understanding Money – How to make it work for you, Australian Government
  • MoneyMinded, ANZ They say: “Develop your money skills for free … If you’re looking to create a budget, reduce your debt or save more regularly.”
  • MoneySmart Free Budget Planner
  •  
  • She’s on the Money, Victoria Devine. Check out her Budgeting and Cashflow Masterclass
  • BootCamp: an online course to hone your investing skills from InvestSMART, Course structure:
    “Module 1 – Investment Planning, Investment Planning Overview, Financial Goals, Time Horizon, Risk Profile, How much to invest? The Power of Compound Returns
    Module 2 – Investment Diversification, Diversification Overview, What are asset classes, Sequencing risk, Different blends of asset classes, Alignment with investment time frame, Rebalancing Your Portfolio
    Module 3 – Different Investment Vehicles, Investment Vehicles Overview, Shares, Managed Funds, ETFs, Managed portfolios, Cash & Bonds
    Module 4 – Investment Strategies, Investment Strategies Overview, Active vs Passive, Core & Satellite, Value Investing, Technical Analysis, Income, Income Based Strategies, Market Timing
    Module 5 – Investor Psychology, Investor Psychology Overview, What holds you back, What tempts you to invest, Biases and their Solutions, Common mistakes”
  • Finance Fundamentals: Investment Theory and Practice Free Course Open University.  They say “Learn how to invest your money by looking at what investment strategies are open to you, and the risks and returns of each.”
  • Rask Australia They say: “[Rask] is a diversified investment advice, news, research, financial education, podcast and money network which is Australian-owned and created right here in sunny Melbourne. Our company was founded in 2017 by Owen Raszkiewicz, originally to provide financial and investment education to the majority of Australians and Kiwis who go without. We’re on a mission to have 10,000 students enrolled in our free finance courses.”
    Lots of brilliant finance and investing resources, many Free Courses eg FIRE: Australian Finance Podcast They say: “Your crash course guide to sorting out your finances… every Monday” and  Australian Investors Podcast, with transcripts! They say: “[has] Insights, information and strategies to help you invest your time and money… every Wednesday
    Check out their 10-Step Free Financial Independence Ultimate Course [FIRE] and more.
    FREE
    Beginner, Intermediate and Advanced Investing and Personal Finances Courses:
    • Property 101 Course
    • Ethical Investing 101 Course
    • Free business course: Rask’s Business Starters course
    • Beginner’s ETF Investing Course
    • Money & Budgeting: The Complete Guide
    • Share Valuation Course (Intermediate)
    • Beginner Shares Course
    • Sort out your Super (the easy way)

    PAID

    • Value Investor Program (online) $799 (as at Oct 2021)

Some ‘expert picks’: Apps, podcasts and websites

  • Canstar:
    Peter Koulizos likes –     Podcast: The Money, Website: corelogic.com.au App: realestate.com.au
    Marcus Padley likes –     Website: livewiremarkets.com App: Finabase
    Effie Zahos likes        –     Podcast: Freakonomics Website: napkinfinance.com App: GasBuddy
    Shaun Bond likes      –     Podcast: Planet Money Website: The Bogleheads Forum

Apps

Saving, loans, credit scores

Blogs

  • Money mini blog (USA) Kalen (founder) says “[it] shows you how to control your finances, create positive habits and get the life you want.”
    Check out their Blog Roll of other money and finance blogs and their own blog and extensive free resources and guides on:
    • investing
    • controlling your money
    • pay off debt
    • using credit cards
    • being more productive
    • creating good habits
  • The Simple Dollar (USA) BlogThey say: “Investing your money takes attention to detail as well as some educated risks. Here, we’ll help unpack some best practices so that you can make well-informed and strategic investment decisions.”

Podcasts

Investing
Online Share Trading
International Share Trading
Managed Funds
Cryptocurrency Exchanges and Wallets
Margin Loans
Peer 2 Peer Lending
ETFs
Superannuation
Self Managed Super Funds
Account Based Pension

Online – various

  • Passive Investing Australia great resource, but I’ve got no idea who created and runs it! It covers:
    BUILDING A PASSIVE PORTFOLIO
    1. Inflation and why you can’t just put everything in term deposits
    2. Fear of investing
    3. The risk reward spectrum
    4. Asset allocation and your risk tolerance
    5. Index funds
    6. Mitigating risks
    7. Bond funds
    8. Equity funds
    9. Franking credits – how much more are you really getting
    10. Currency risk – personalising your AUD to non-AUD allocation
    11. Portfolio maintenance – Rebalancing
    12. VDHG or roll your own
    13. Does the 10% bonds in VDHG make it a no-go?
    14. Summary & further reading

CREATING AN INVESTMENT PLAN
1. Creating an investment plan and Investment Policy Statement (IPS)
2. How much do I need to save every month to meet my retirement goal?

BEYOND THE ESSENTIALS
1. What about other asset classes besides stocks and bonds?
2. What’s the deal with REITs?
3. Cash vs bonds in your portfolio
4. Risk premium explained
5. Stock market risk

COMMON QUESTIONS
1. What should I do if I have $5,000 (or $20,000) to invest?
2. The market has never been this high, should I wait to invest?
3. Lump sum investing
4. Low interest rates – should I move to high dividend stocks instead?
5. Low interest rates – should I move from HISA to Bonds?
6. Why bonds?
7. Pay off the mortgage faster or invest?
8. What are ETFs, LICs, index funds, and managed funds
9. Should I diversify out of VDHG?
10. How to get worldwide index exposure on the ASX
11. The Australian version of the 3-fund-portfolio

MISCONCEPTIONS EXPLAINED
1. Dividends are not safer than selling stocks
2. Dividend investing vs total return investing
3. LICs – are they all they’re cracked up to be?
4. What is total return investing?
5. P2P lending and the risk-return spectrum
6. Why not invest in Indian fixed deposits at 8% interest?
7. Should I chase higher interest rates in another developed country?
8. Why not just invest everything in the US market?
9. Emerging markets is crap – should I leave it out?
10. Why you can ignore the index bubble argument
11. Whipsaws and hopping out of the market when there’s bad news
12. Should I hold off buying stocks until the volatility from coronavirus has reduced?

MISCELLANEOUS
1. Fund domicile and avoidable US taxes
2. Non-residents or not planning on retiring to Australia

Strong Money Australia

  • Twitter 25 Aussie Finance Experts You Should Be Following On Twitter
    Canstar:
    Personal finance experts:
    Effie Zahos – @effiezahos
    Ross Greenwood – @Ross_Greenwood
    Sophie Elsworth – @sophieelsworth
    Noel Whittaker – @NoelWhittaker
    Nicole Pedersen-McKinnon  –@NicolePedMcK
    Karen Collier – @KarenCollierHS
    Clancy Yeates – @clancyyeates
    John Collett – @jcollett_money
    Stoykov – @ceovanessa
    Katherine Temple – @Katherine_M_T
    Bianca Hartge-Hazelman (Financy) – @LiveFinancyGeneral finance experts:
    David Scutt – @Scutty
    Alan Kohler – @AlanKohler
    Mark Bouris – @markbouris
    Ross Gittins – @1RossGittins
    Jessica Irvine – @Jess_Irvine
    Shane Oliver – @ShaneOliverAMP
    Stephen Koukoulas – @TheKouk
    Jane Slack-Smith – @Renoqueen (and podcast)
    Michael Pascoe – @MichaelPascoe01
    Michael Janda – @mikejanda
    Simon Pressley – @SimonPressleyWealth & investment gurus:
    Josh Callaghan – @CallaghanJosh (Canstar Investor Hub)
    Assad Tannous – @AsennaWealth
    Greg McKenna – @gregorymckenna

Various sites, articles, books etc:

It’s About Wealth and Me – Noel Whittaker

MoneyMinded (ANZ and others). They say “is an adult financial education program developed by ANZ in 2002 in consultation with community and government stakeholders and education experts. Whether you’re looking to create a budget, reduce your debt or start saving, there’s something for you… How does it work?

MoneyMinded is made up of a series of interactive activities that are designed to improve your money management skills. You can complete any of the activities at any time and at no cost to you. You don’t need to be an ANZ customer and ANZ will not promote their products or services.”

Here’s The Smart Way To Start Investing Young – Christian Hudspeth, Business Insider Australia

How to get started investing – BT Financial Group

How to invest – Money Morning

wikiHow  How to invest (USA, basic – but cool graphics!)

The Bogle Heads Guide to Investing (USA)

MILLENNIALS (currently 25-40yr olds)| "FIRE' Financially Independent Retire early| Setting goals| Investing guides

What life and money information interests and impacts on you depends on many things like: your age, life stage, circumstances and the lifestyle you want.
Seeing how other like minded people are living their lives, how they’re managing their money, investing and where they get their information can help you decide for yourself. So too can looking at others, with more knowledge, experience, generations, or people who’ve made mistakes you can learn from.

Throughout BiG we focus on resources and current issues impacting on Millennials. Largely because 25 – 40 yr olds are at a stage where they’re making huge life decisions, changes which can impact enormously on them now and in the future.
They’re a huge and important proportion of the population, increasingly being targeted by the money, finance and lifestyle industries and marketers.
Check out the information below to understand some of the issues, particularly intergenerational.

Millennials according FEE [The Foundation For Economic Education USA] – a lot of articles on Culture, Economics and Education
Try their Quiz: Which Generation’s Money Habits Do You Match?

Boomers, Gen X, Gen Y, Gen Z, and Gen A Explained [USA] Kasasa They say:

  • Baby Boomers: Baby boomers were born between 1946 and 1964. They’re currently between 57-75 years old (71.6 million in the U.S.)
  • Gen X:  was born between 1965 and 1979/80 and is currently between 41-56 years old (65.2 million people in the U.S.
  • Gen Y:  or Millennials, were born between 1981 and 1994/6. They are currently between 25 and 40 years old (72.1 million in the U.S.)
    Gen Y.1 = 25-29 years old (around 31 million people in the U.S.)
    Gen Y.2 = 29-39 (around 42 million people in the U.S.)
  • Gen Z:  is the newest generation, born between 1997 and 2012. They are currently between 6 and 24 years old (nearly 68 million in the U.S.)
  • Gen A: Generation Alpha starts with children born in 2012 and will continue at least through 2025, maybe later (approximately 48 million people in the U.S.)

What separates Generation Y from X? And hey Gen Z and Gen A, welcome to the party! What’s the cutoff? How old is each generation? Are they really that different?…  If you’ve ever felt muddled by this “alphabet soup” of names — you’re not alone. The real frustration hits when you realize that Millennial consumers represent the highest-spending generation in 2020 — with a projected $1.4 trillion tab. And though their current wealth has been dragged down by not one but two “once-in-a-lifetime” economic crises during their most impactful career years,
Millennials stand to inherit over $68 trillion from Baby Boomer and early Gen X parents by the year 2030, setting them up to potentially be the most wealthy generation in U.S. history.
Generation Z isn’t far behind, projected to hit $33 trillion in income by 2030 — that’s more than a quarter of all global income — and pass Millennials in spending power the year after.
And coming up last but not least is Generation Alpha, the name given by social analyst Mark McCrindle to the youngest children on the planet. By the year 2025 there will be nearly 2 billion members of Generation Alpha across the globe.
No matter how you slice the data, the younger generations have never been more critical to your financial institution’s future.
Unless you understand who they are and what they want, you won’t capture a dollar of their money.”

Here’s a fun article 11 Awkward Money Questions Gen Z’ers Had For Millennials (And Their Answers), Buzzfeed, Jasmine Suknanan.

A good read – The Defining Decade, Why Your Twenties Matter and How to Make the Most of Them Now USA Meg Jay (Clinical Psychologist) says “Contemporary culture tells us the twentysomething years don’t matter… Dr. Meg Jay argues that this could not be further from the truth.
In fact, your twenties are the most defining decade of adulthood… the latest science of the twentysomething years with real-life stories to show us how work, relationships, personality, social networks, identity and even the brain can change more during this decade than at any other time in adulthood. Smart, compassionate and constructive, The Defining Decade is a practical guide to making the most of the years we cannot afford to miss.”

7 Top Investments for Young Australians in 2021, Canstar, Marissa Hayden,What to do before investing

10 top investments for young Australians in 2021, Rate City

19 WAYS TO INVEST IN YOURSELF THROUGHOUT YOUR 20S, The Cusp, Esther Semo

An investment guide for your 30s Eureka Report

Financially independent and retire early (FIRE)

  • Rask – Check out their  FIRE Mega Course 10-Step Free Financial Independence Ultimate Course and more.
  • Aussie Firebug They say “Aussie Firebug is an anonymous blog detailing the journey to financial independence through investing in real estate, low-cost index funds and Super. By investing at a young age and consistently it is possible to reach a point where your investments pay you enough money to live off. Once you get to this point you are financially independent (FI) and can retire early (RE) or do better things without the constraint of your job…[I] am trying to condense the 45 years of reckless spending into 5-10 years of aggressive saving/investing in order to reach the retirement part years ahead of the current trend. I will be blogging about my frugal lifestyle and investing techniques along the way to reaching financial independence. ” and Podcast.
  • Aussie HIFIRE They say: “This is a blog about having enough money to have a high income and be financially independent after retiring early, or HIFIRE for short.”
  •  Strong Money Australia and their FIRE&Chill Podcast they say: “we break down exactly how to reach Financial Independence and Retire Early in Australia. We cover everything from saving, spending, investments and living a great life.
    Our favourite bits from the show are uploaded regularly to the FIRE & Chill YouTube channel
  • Millennial Revolution (Canada)

Other bits and Pieces

MarketLit Investment Conference [You Tube] This goes for a few hours – grab a coffee, skip through to videos that interest you. Has a lot of great interviews, ideas, tips. They say: “Friday 2 July 2021 – The Capital Network is proud to bring you MarketLit, Australia’s First Financial Influencers, Millennial and Gen Z Investment Conference. MarketLit brings together leading financial influencers, market experts and ASX-listed companies to discuss the key investment themes and ESG (Environmental, Social and Governance) issues that emerging investors care about. Change is coming and MarketLit is here to show the way forward.
The world is preparing for one of the biggest transfers of wealth in history – from Baby Boomers to Millennials and Gen Z who place significant importance on ESG.
* Almost 45 million US households will transfer a total of US$68.4 trillion in wealth to their heirs and charities over the next 25 years. Millennials stand to be the primary beneficiary of this transfer and it is expected that by 2050, they will replace Baby Boomers as the generation with the greatest wealth. [US research firm Cerulli Associates]
* In Australia, millennials will inherit around A$3.5 trillion from Baby Boomers over the next 20 years. [Online share trading platform Nabrade]
* 86% of millennials are interested in sustainable investing and millennials are twice as likely as the overall investor population to invest in companies targeting ESG goals [Morgan Stanley]”

Glen James (Aus), Sort Your Money Out; and podcasts My Millenial Money and My Millenial Business
5 ways to have more money| Glen James shares 5 tips to have more cash – Millenial Money or watch on YouTube

Why it’s important for millennial investors to define their goals -The Motley Fool, April 2020

Creating an investment plan and Investment Policy Statement (IPS) – Passive Investing Australia

Millennials struggle to invest, but property top priority Ross Fox, FirstLinks Morningstar which has got lots of great research into areas millenials are interested in investing in so fund managers can target them.
It’s refers to an extensive survey of 3,000, 22-34yr olds around the world THE IMPACT OF TECHNOLOGY ON INVESTMENT FUNDS.

MoneySmart (ASIC) - VIDEOS| brilliant resources, especially for help managing your money or starting to invest

MoneySmart (ASIC) Here’s their About video  (where you can subscribe to their YouTube Channel and access some helpful videos) where they say “As a key initiative under the National Financial Capability Strategy, the Australian Securities and Investments Commission’s [ASIC] Moneysmart program helps you take control of your financial life. The Moneysmart website provides free calculators, tips and guidance for all Australians so you can make informed decisions, manage your money day to day and plan for the future. Moneysmart also supports teachers across the country to teach students about money to prepare them for the real world. And ASIC works closely with Indigenous communities to tackle some of the most pressing financial issues affecting Aboriginal and Torres Strait Islander peoples’. Moneysmart is for all Australians, whatever your situation, wherever you find yourself in life. Because when it comes to managing your money we all need a place to start.”

Here’s the MoneySmart Playlist if you want to check out some investing basics, tips and tools: (I’ve added some links – you’re welcome!)

MoneySmart (ASIC) - WEBSITE| Lots of Topics, Resources, Tools, Spreadsheets, Calculators, and great Glossary of Money and investing Terms

MoneySmart’s (ASIC) got a handy Glossary – to help you understand some tricky money and investing words and phrases.
They say “We’re committed to helping Australians of all ages, backgrounds and incomes to increase their financial wellbeing and build a better life.

Through the Moneysmart website we:

  • encourage saving
  • provide simple steps for the 1 in 3 people who feel stressed and overwhelmed by money
  • encourage informed use of financial products and services
  • increase retirement preparedness
  • provide specialist support for priority audiences”

Some of their extensive, topics, useful resources, spreadsheets, tools and calculators include:

Banking and budgeting
Loans, credit and debt
How to invest:

  • How to plan, choose and track your investments
  • Golden rules of investing
  • Investor toolkit (Love it!)
  • Develop an investing plan
  • Six steps to get ready to invest
  • Choose your investments
  • Diversification
  • Investing and tax
  • Borrowing to invest
  • Keep track of your investments

Financial advice

  • Financial advisers register
  • Choosing a financial adviser
  • Working with a financial adviser
  • Financial advice costs
  • Problems with a financial adviser

Shares

  • Choosing shares to buy
  • How to buy and sell shares
  • Keeping track of your shares
  • Employee share schemes

Managed funds and ETFs

  • Managed funds fee calculator
  • Choosing a managed fund
  • Exchange traded funds (ETFs)
  • Hedge funds
  • Listed investment companies (LICs)
  • Peer to peer lending

Property investment

  • Property schemes
  • Timeshares
  • SMSFs and property

Investments paying interest

  • Bonds
  • Debentures, secured and unsecured notes

Hybrid securities and notes

Investment warnings

  • Investment scams
  • Cryptocurrencies and ICOs
  • Investment seminars
  • Binary options
  • Land banking
  • Ponzi schemes
  • Company director fraud
  • Forex tradingSuper and retirement
  • How super works
  • Choosing a super fund
  • Types of super funds
  • Self-managed super funds (SMSF)
  • Getting your super
  • Find lost super
  • Consolidating super funds
  • Tax and super
  • Superannuation scams
  • Superannuation calculator
  • MySuper funds listGrow your super
  • Employer contributions calculator
  • How much super you need
  • Super contributions
  • Super for self-employed people
  • Super investment options
  • Super contributions optimiserRetirement income
  • Age Pension and government benefits
  • Super and pension age calculator
  • Transition to retirement
  • Retirement planner
  • Account-based pensions
  • Account-based pension calculator
  • Annuities
  • Super lump sum
  • Retirement income and tax
  • Downsizing in retirement
  • Reverse mortgage and home equity release
  • Reverse mortgage calculatorInsurance
  • How life insurance works
  • Life insurance calculator
  • Income protection insurance
  • Life cover
  • Total and permanent disability (TPD) insurance
  • Insurance through super
  • Life insurance claims comparison tool
  • Trauma insurance
  • Making a life insurance claim
  • Car insurance
  • Choosing car insurance
  • Claiming on your car insurance
  • No claim bonus on car insurance
  • Add-on insurance
  • Home insurance
  • Choosing home insurance
  • Contents insurance
  • Storm, flood and fire insurance
  • Health insurance
  • Funeral insurance
  • Pet insurance
  • Mobile phone, tablet and laptop insurance
  • Travel insurance
  • Consumer credit insuranceMoneysmart for teachers
  • About Moneysmart for teachers
  • Teaching resources
  • Professional development for teachers
  • Moneysmart in schools

 

 

 

 

 

Motivators, Coaches, Mentors – wealth, business, finance & other

The lists of finance, success and motivational books, CDs etc are endless. You’ll find them at Amazon, Penguin Random House and many other sites.

Some popular and often quoted books and authors are:

James Allen – As a Man Thinketh

Dale Carnegie – How to Win Friends and Influence People

Dr. Robert Cialdini – Influence: The Psychology of Persuasion

George S. Classon – The richest man in Babylon

Stephen R. Covey – 7 Habits of highly effective people

Wayne Dyer – Your erroneous zones

Napoleon Hill – Think and grow rich and W. Clement Stone Success through positive mental attitude.  78 years ago, a journalist studied 500 rich men and boiled down their success into 13 steps Kathleen Elkins, Business Insider

Dr Spencer Johnson – Who moved my cheese?

Og Mandino – The greatest miracle in the world

Tony Robbins – Awaken the giant within and MONEY Master the Game: 7 Simple Steps to Financial Freedom

Bodo Schafer – The Road to Financial Freedom

David J Schwartz – The Magic of Thinking Big

Brian Tracy – Personal Success Made Simple

The Australian Investors Association (AIA)

The Australian Investors Association (AIA) is a fantastic resource/community. They say “is a not for profit organisation dedicated to providing independent quality investment information helping Australians to decide their financial future. First formed in 1991, we act with integrity and are not aligned to any institution which allows us to filter and hand select the best possible information for our members.

We do not offer advice and believe investing is founded on sound long term decision making. We are investors, not speculators and focus on quality not quick and easy stock tips. Many of our members run their own self managed super funds and enjoy the independent and clean information we provide. Our events are well known and are highly regarded for the calibre of presentations and the opportunity to network. We are also agnostic and provide a range of opinions to allow our members to consider the merit and alignment for their own circumstances.

The AIA is a trusted gateway to investing and the investment industry
We are utterly committed to helping our diverse range of members in many ways. Our members vary from beginners to highly sophisticated investors and traders in all markets. For instance, we can help you with:

  • meeting other investors
  • understanding your share investing and risk management process
  • keeping abreast of local and global news and developments which can impact your investing activities
  • establishing and managing a SMSF
  • investing in managed funds or other instruments, such as ETFs
  • building portfolios and strategies across asset classes, including fixed interest and property
  • making you aware of what you don’t know”

It has a lot of FREE STUFF in its Education Section including:
Investment basics – be clear on the basic principles of investing, improve your investing skills over time and avoid the costly pitfalls
Fixed income – consider fixed income alternatives that may best suit your investing needs
Shares – learn how to invest in shares and the different ways ways you can approach share investing
Property – learn about the various type of property investments including residential and commercial property
Other investments – understand the range of investment options and make informed investment choices
Portfolio management – learn about investment strategies, administering your portfolio and the pros and cons of the DIY option
Superannuation – learn about superannuation to help you make the the most appropriate decisions on how to save your money, particularly for your retirement
Estate planning – learn about wills, powers of attorney, testamentary trusts and other important estate planning issues

InvestSmart and Eureka Report (Alan Kohler and others)

Eureka Report (now combined with InvestSmart). They say “provides astute investors with strategies and advice to grow their wealth.” 

In 2015 the Eureka team set up brightday Superannuation and Superannuation Advice online(rated in our Guru section) which has fabulous tools for beginner and advanced investors and has an affiliation with OneVue ” an independent investment and superannuation platform business…” see Investing with brightday 4 Steps

Various Analysts and Commentators such as Scott Pape (the Barefoot Investor)
  • See BiG’s list of Analysts and Commentators.

  • Scott Pape (Scott’s changed paths, now focusing on financial counselling, financial education in schools and not advice.)

You can subscribe to his Free Weekly Wealth Letter.
He used to have a membership site barefootblueprint, PODCAST and the Barefoot Investor Facebook Group – no longer.

Scott Pape, the Barefoot Investor explains often complex financial and investing information clearly and simply, making it sound fun and achievable.

Check out:

  • His book The Barefoot Investor – Five Steps to Financial Freedom
  • His ‘serviette investing strategy’ Serviette Strategy – Bonus Report – v1.3 (1) has helped many people take hold of their finances and start investing successfully. He suggests boosting your income (e.g. promotion, extra business) and breaking down your income into 3 money buckets:
    • ‘blow’ – house, car, spending (use cash)
    • ‘mojo’ – online saver, property trust (aim 6 mths)
    • ‘grow’ – superannuation, shares, property investment (compound 7-10 yrs)

spending your money

What area of life, money and investing will you explore?

Disclaimer: The information and comments in this site are general in nature, opinion only and don’t take your personal financial circumstances into account. Our aim is purely to educate you and show you people and organisations in the finance and investing industries you may, or may not, choose to contact for personal financial advice. Any claims or comments of others are strictly those of the cited individual and not endorsed by Andrea or Best investment Gurus. Before you take any financial or investing action or buy any service or product - get your own independent financial advice, tailored to your specific needs.

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