Hello future millionaires,
I’m writing this newsletter/article as Owen and I prepare for our upcoming talk at Equity Mate’s FinFest event in Sydney (which will be done and dusted by the time you read this).
Tune in to our FinFest wrap-up on The Australian Finance Podcast, where Owen and I share some of our highlights from the day and some of our money hacks for the month.
Our instructions from Equity Mates was to ‘deliver the safe investing talk’, known as Get Rich Slow.
To show what’s possible if you take the slow and steady approach with your money.
I know, it doesn’t sound sexy, but boring works, especially when it comes to investing…
So how can you build wealth slowly? Let’s take a look!
5 ways to get rich (slowly)
🙋🏽♀️ Earn more (negotiate yo’ salary)
With the cost of coffee and lettuce going up, it’s high time you negotiate your salary.
To start investing, you need some $$$ (at least $5), so increasing the gap between your income and expenses is critical — and increasing your income makes a lot of things easier!
Action step: Create a file of evidence to present a case to your boss, to show them why you’re worth your weight in gold. Think of activities or projects where you went above and beyond. Prove you’re worth more.
🎰 Win the lotto (you’re funny Owen)
This is one way to get rich very slowly (or most likely, never), but not really my preferred method.
There’s other ways to use your money for a thrill, like skydiving or rock climbing, if you want to live on the edge. And keep the rest of your money reserved for investing in boring ETFs, shares and other assets.
Scary fact: Australia spends more on gambling losses, per person, every year, than anywhere else in the world. In NT, the figure is a shocking $12,613 spent on gambling per year! 😔
💸 Invest in ETFs (open a brokerage account)
This is our bread-and-butter method to build wealth at Rask. Why? Because it works. And there’s a lot of data to back that up.
It’s not like Vegas. It’s more like watching paint dry. But if you’re interested in learning about ETFs, jump into our Rask Core community or listen to our recent ETF mini-series on The Australian Finance Podcast.
🏡 Buy a property (just don’t make the $100k mistake)
As expert Pete Wargent pointed out during a recent podcast episode, buying a property is not an overnight thing (no matter how many articles about 30-year-olds with a portfolio of properties you see in the news).
If you’re ready to take the first step on your property journey, make sure to take our FREE property course, created by Owen, an expert mortgage broker (Chris Bates), and buyers agent (Amy Lunardi) — which guides you through the process.
📋 Start a business (and lose your hair)
Building and running a business is hard, but it can be hugely rewarding, both financially and personally. But it’s bloody hard, and there’s a lot of hurdles to overcome before you can reap the rewards.
Owen shares more about his journey building Rask on our new Australian Business Podcast, and in our FREE Business Course.
How am I investing in 2022?
In 2022, my investing strategy remains largely the same as it has been over the past few years, despite the constantly changing world around us.
Actually 90% of my portfolio is fairly boring, because I invest in low-cost ETFs that give me a diversified portfolio of Australian and international companies, plus some real estate, bonds and cash.
And boring is good. In investing, boring gets the job done (it’s taken me many years to realise I don’t need to keep overcomplicating my investment strategy).
Look at your portfolio right now. What does it say about you? Is it complex? Or simple? Can you sleep at night? Do you trust it to do its job?
🧠 What are you going to work on this week?
Before you move onto the next email, I want you to open your notes app and write down one action that you’re going to take this week to improve your financial future.
Just keep it simple. Pick one thing.
If you’ve ever been stuck scrolling Netflix for an hour without making a decision, you’ve probably experienced analysis paralysis.
Just pick one thing you can achieve this week.
At the end of the day, I think the most important thing is to make a decision to start taking action.
It might not be the right one, but you often won’t know until you start taking actionable steps in a particular direction.
So write something down, the smaller the better, and commit to completing it this week.
✨ Have any extra tips? Let us know!
Do you have any investing wisdom to share?
Let me and the Rask Core 🌏 community know about it by jumping into the Community forum. It’s now only $9.99 per month to be part of Rask Core – cancel anytime!
I’ll share your suggestions in our upcoming Money & Chill episode on The Australian Finance Podcast — stay tuned!
Cheers to our financial futures,
Kate
