The bare bone basics of building wealth with Australian financial and investment advisers Dylan Pargiter-Green & Luke Laretive
Set a clear objective
From creating a legacy, a nest egg for the kids, managing a transition of wealth to prepare for retirement etc, having a goal that is not tied to just more money helps create a risk profile, stay the course and get back on track when getting waylaid.
Creating a surplus
Liquid assets for emergencies
Regular surplus of income
Protecting against the unlucky
Personal income is the greatest asset for most, but uninsured for many. Income protection, disability insurance, life insurance are important and complimentary safety measures.
Starting to invest - Luke's 101
Start with an online discount brokerage account.
Multi-asset low cost ETF from ETF provider matched to your risk profile (younger leans towards growth, elder leans towards balanced and conservative). Set ETF to dividend re-investment
Don't pick stocks.
Re-invest dividends.
Behaviour makes millions
Stay the course and let wealth accumulate over time. Discipline is the key.
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