Podcast: A beginner’s guide to investing

It's never too late to get started in the stock market.

Learning how to invest is one of the most important lessons in building wealth that you'll ever need.

This year has seen some of the most dramatic movements in markets around the world. Despite this new COVID-19-tinged reality, Australians continue to seek out information about how to invest their money. And we're so on board with that.

For this crash course on investing, Sally is joined by Finder's investments editor, Kylie Purcell. Kylie spends her days deep in the world of share trading and brings a wealth of expertise about global markets, weighing risks with rewards and how you can take advantage of investment opportunities, even if you've just got a small amount of cash to put in.

So if you've ever said "WTF is an ETF?", thought about putting your money into ethical investments or simply wanted to put some money into a company you think is going places, this podcast is the perfect place to start.

Mentioned in this episode

• Our comprehensive guide to budgeting
• Statistics about Australian investing habits
• Coronavirus (COVID-19): Stocks to buy and how to invest
• The highest-performing ETFs
• Compare some online share trading options
• Learn more about Robo advisers like Raiz

Read the transcript of this episode

• Episode 206 transcript

  Note: This is based on a machine-generated transcript. We've tidied it up, but we're sorry if any glitches have slipped through.

  Sally McMullen
  Hey, Kylie.

  Kylie Purcell
  Hi, Sally.

  Sally McMullen
  Welcome back to pocket money. We've recorded today's episode on investing basics last month or a few weeks ago now, but my God, a whole lot has changed since then. So can you give me a bit of a lay of the land of what's happening right now in the stock market?

  Kylie Purcell
  So much has changed and so much changed so quickly. Just to put it into perspective, we're about a month on from when the market started going downhill. As we all know that coronavirus hurt and that was quite scary. But it took about two weeks for the markets to catch up to that. But once it did catch up to it, it was a downhill journey from there and a very steep very steep fall for stock markets in Australia and the US everywhere global stock markets. So it's crazy times and even the most, you know, advanced or experienced traders are definitely moved by all of this. It's as crazy as it looks.

  Sally McMullen
  So today's episode is all about investing basics, but we will be doing a part two. So we will have you back on the show Kiley to talk a lot more about the stock market crash and everything that's happening now and go through some of the tips for anybody who already has investments or you know, I'm sure a lot of people are thinking that like now's the time to swoop in and buy cheap stocks or something. So looking forward to that.

  Kylie Purcell
  Yeah, it's really interesting, actually, we're seeing a massive spike in interest to find it to the how to buy shares pages during this time. Yeah, it's a really interesting development. Because, you know, during a stock market crash, you'd almost think that people would be nervous about investing in stocks. But we're saying actually, the opposite. People are wanting to jump in and learn how to buy stocks, which is actually very smart. Because, you know, stock market crash is a scary thing. But it's also a once in a decade, possibly even once in a lifetime opportunity to buy shares at a really low price.

  Sally McMullen
  Wow. Well, I'm excited to chat more about that in part two of this episode. But hopefully that means that a lot of the basics on how to get started investing, how to buy, you know stocks and get involved in ETFs. And everything that we cover in today's episode will still be really helpful, especially for some of those people who are interested in jumping in now.

  Kylie Purcell
  Yeah, absolutely. Absolutely. It's still totally relevant. You still need to consider your risks, but the same rules that we talked about in the episode apply. So a great little startup for anyone who's interested in dabbling.

  Sally McMullen
  Nice. Well, let's jump into the episode.

  Sally McMullen
  Welcome to Pocket Money, Kylie, thanks for coming on the show today.

  Kylie Purcell
  Thanks for having me. So it's great to be here.

  Sally McMullen
  So as kids, as millennials have been dubbed the smashed avocado property list generation, but I heard that millennials are actually the keenest investors.

  Kylie Purcell
  Yeah. I mean, we've been getting a pretty bad rap in recent years in the media with the whole avocado on toast trope, as you say. But yeah, according to the research from finder 50% of Gen Y, Aussies actually had plans to invest by late 2019. So that's more than any other generation out there. So yeah, looks like we're actually a little more savvy with our money, then people try to make out.

  Sally McMullen
  Yes, take that boomers. This is the trend but there are a lot of young people who, you know, may not have got into investing yet. So what are we actually investing in?

  Kylie Purcell
  The three main investment choices for millennials, shares, property, and superannuation. You might think, you know, we've all got superannuation, but with salary sacrificing, you can actually add more to superannuation. So it looks like some of us are actually choosing that as the as their top choice, which is pretty exciting.

  Sally McMullen
  Nice. And I've also seen in the headlines, exchange traded funds or ETFs thrown out quite a bit. And if you don't know what these are for our listeners, don't worry. We'll be covering that in this episode. But um, yeah, it looks like millennials make up a pretty big chunk of of those investments too.

  Kylie Purcell
  Yeah. In fact, according to find a research, Millennials make up 29% of all exchange traded fund investors in Australia, which is pretty cool.

  Sally McMullen
  Yeah. Wow. So that's what we're going to be talking about today. It's a bit of a one on one how to get started in investing. And we're going to cover everything from stocks and ETFs, which we just spoke about, but also robo advisors and ethical investing as well. So first, let's start at the basics and what we can invest in. So let's start with stocks. What are they and how do they work?

  Kylie Purcell
  Yes, so simply put shares or stocks, pretty much exactly that the share price Ownership of a company. And there's sold so that that company can raise funds for expansion. And shareholders buy or sell the shares through the stock markets like in Australia, it's the Australian Securities Exchange or the ASX or in the States, you know, with Wall Street. There's the New York Stock Exchange. people invest in stocks, mostly so that they can make money so they can buy and sell these stocks for they can buy them for a lower price and sell them for a higher price.

  Sally McMullen
  And what are some of the more popular stocks that people are investing in right now?

  Kylie Purcell
  Well, some of the most well known stocks are the ones that you hear in the media all the time and ones that you use often yourself. So the ones that probably come to mind first would be the big us tech stocks, like I'm Facebook, Amazon, Apple, Netflix and Google. And actually, those companies have a name they called the FAANG stocks. That's right, the big US tech stocks of the world. And here in Australia, we've also got some of Some companies that reasonably well known as well, BHP CommBank, ANZ, there's also Afterpay and Breville. So yeah, household name type stocks tend to be the ones that you hear about most in the media and the ones that are most invested in.

  Sally McMullen
  And what are the benefits of investing in stocks? If somebody's thinking about it? Why should they do it?

  Kylie Purcell
  Yeah, I mean, the biggest benefit of investing in stocks is you can make a lot of money.

  Sally McMullen
  Sounds good to me, I guess. Got it.

  Kylie Purcell
  Exactly. Right.

  Sally McMullen
  Invested all in Breville.

  Kylie Purcell
  Yeah. Oh, my God, I wish I'd invested in Breville a year ago, that would have been a nice little return on investment. But yeah, there are two main ways that you can make money from stocks. The first way is kind of the most obvious and that's by profiting from capital growth, which is basically you buy a stock for a certain price, a low price and then you sell it again for a high price and you write home, the profit And I know everyone uses the example of apple. You know, if you'd invested an apple like 30 years ago, 1000 bucks in Apple, today your shares will be worth around $430,000 just to use an example of how much money you can make if you pick the right company.

  Sally McMullen
  Wow I was gonna say I wasn't born then Kylie, what do you want me to do?

  Kylie Purcell
  And then of course, these are only for Australian stocks. CSL would be the example that people use. So if you'd invested $10,000 in CSL in the 90s, today, your stock would be worth around a million dollars. If you pick a winner. before everyone, everyone knows that it's a winner. You can certainly make a lot of money that way. And the other way to make money from investing in stocks is through dividend stocks. What is a dividend? One may ask?

  Sally McMullen
  That is what I'm asking my head, so please.

  Kylie Purcell
  Well, some companies choose to pay a certain percentage of their profit out to their shareholders twice a year and tend to be the big like blue chip companies like comm bank or ANZ, some of the big companies that you might not see a lot of capital growth. And so for example, Westpac might not have grown very much its share price over the last 30 years, but it pays a really high dividend to shareholders. And so, you know, dividend investors might not even need to buy and sell their shares. They can just own a lot of dividend paying shares and live off those dividends if they have enough of them.

  Sally McMullen
  And how do you know which one to choose from? Because that's what I'm thinking at this point, like, How do I know what's the apple of 2020? You know, that I should be investing in now. And then Which way should I go? I'm sure it depends on on your circumstance, but I'd be interested.

  Kylie Purcell
  I mean, it's the million dollar question.

  Sally McMullen
  Yeah, that's, like, that's what everybody's asking. Ah, nobody knows the answer.

  Kylie Purcell
  Unfortunately, it's true. It's really hard. I mean, people make a lot of money by trying to analyse these companies. Yeah. And you know, it stockbrokers do that. Investment analysts do. And half the time, honestly, they get it wrong. So it really is the million dollar question.

  Sally McMullen
  Yeah, they're the weatherman of the Finance world. Just take a wild guess.

  Kylie Purcell
  Yeah, unfortunately, that's true. There are a couple of key sort of factors you can look at, or there's a, there's a couple of rules that people tend to say when you're investing in stocks or picking a stock. One of them is to invest in a company that you know, really well, or a company that you use often. So if you use Apple products a lot, you know, it might be a good option to invest in Apple because, you know, its movements, you know, when it's not trying to do well, you know, when people are maybe starting to buy other products, that's competition. So that's one way to do it. The other way, if you if you want a safe portfolio of stocks, is just to invest in companies that pay out a high dividend and that's what a lot of Australians do. So when you hear in the media, you know, investors talking about the SMSF 's, a lot of older, the boomer generations often have these big SMSF full of dividend paying stocks. They probably don't need to buy or sell them very often they just live off the dividends. So you could go you could go either way you could bet your money on a company that you think is gonna do really well, you know, an up and comer the future Apple, everyone everyone really wants and you can make a lot of money from that. Or you can start to invest slowly over time in a lot of dividend paying stocks.

  Sally McMullen
  So we've spoken a lot about the returns of investing in stocks, but what are some of the costs and the risks that new starters should be aware of?

  Kylie Purcell
  The main costs, really the brokerage fees that you pay, and that will depend on what broker you use. So, you can go with either a full service broker like Morgan Stanley or Morgan's, they tend to charge maybe, you know, 70 or 80 or $100 plus per trade. So every time you buy or sell a stock, that's the brokerage fee that you pay, or you can sign up online and get a cheaper deal through an online broker and buy or sell yourself. That's Kind of around $10 10 to $30 a trade instead. So that's the main costs that you'd think about. And then there's ongoing fees as well that brokers charge, like an inactivity fee. So if you don't make a trade within a certain period of time, you know, 30 bucks a month or 100 bucks a year, I got another one to think about that people often forget about, actually, the risk, of course of investing in stocks is that you could lose all your money. If the company goes bankrupt or stock prices suddenly drop significantly, then that is a really real risk. And it's part of the reason a lot of people choose to invest in these blue chip dividend stocks, which don't fluctuate much with the share price.

  Sally McMullen
  Yeah, right. A little bit more reliable.

  Kylie Purcell
  Yes, yes, but unlikely to give you a massive boost, if you back a small time tech stock or something

  Sally McMullen
  It's a real catch 22 and I want to jump into ETFs next, which we've spoken about a little bit. So what are they and how do they work?

  Kylie Purcell
  So ETFs or exchange traded funds, investment funds that have been listed on a stock exchange, like the Australian Securities Exchange, and they're bought and sold like you would buy and sell shares. And within each of these funds, there are multiple companies stocks, so maybe hundreds or thousands of stocks can one single ETF Yeah. Someone had described it the other day as the Spotify of investing.

  Sally McMullen
  That's very interesting. So rather than say, just investing in Apple, you'd be investing in like, hundreds or thousands of companies.

  Kylie Purcell
  Yeah, that's exactly right. That's exactly right. So you could invest say, in Tesla, which we're saying recently, its stock price has just gone up like crazy. I think it was 64% in a few days, then of course, drops almost it's quickly within a couple of days. So that's that's real massive volatility. Investing in one company. Yeah. Whereas if you invested in, you know, hundreds of companies, including Tesla, Apple and all the other tech stocks in there, then your price isn't going to fluctuate as much. And you're gonna, hopefully, the aim is to slowly go up in price go up in value.

  Sally McMullen
  So then you're not like putting all of your eggs in one basket, as opposed to if you were just buying a stock in a single company.

  Kylie Purcell
  Yeah, that's exactly right.

  Sally McMullen
  So how can you compare ETFs? And what should people think about when they are tossing out which ones they should invest in?

  Kylie Purcell
  Yeah, well, it's really a personal preference, and it comes down to your own kind of circumstances a little bit when you're picking the ETF. So you kind of want to ask yourself, you know, how much do I want to invest in the ETF? Can I risk losing any of it, and how long you can afford to have the money locked away for but generally, there are three kind of big things that you want to think about when you're comparing the ETF or three key factors and that is risk. how risky is the ETF There are high risk and there are low risk ETFs you want to think about the phase, like superfunds, and in any other investment funds, there are management fees, and the average for that is around 0.5%. And then you'll also want to think about the performance of the fund as well. So how has it performed? You know, one month, three months, five years, so I have a different timeframes. Is it a high performing ETF. And then finally, there's also different themes so it can come down to you know what type of ETF you want to invest in, like some ETFs, for example, invest only in robotics companies, maybe you think that the robotics industry is going to do really well, or some ETFs invest only in companies from China, for example. So if you think China is going to be doing really well, you could invest in a China themed ETF. There's other ETFs like gold ETFs there's even silver and bronze ETFs how Industry ETFs and then there's diversified ETFs that track an entire index of stocks like the ASX 200. It's just the top 200 biggest companies in Australia.

  Sally McMullen
  And where do people go to get started when they're doing this research? Because there's sounds like there's a lot involved and a lot to consider.

  Kylie Purcell
  Yeah, that's right. I mean, you can go to finder.com.au, we've got plenty out there on ETFs. And we've even got a list of the best performing ETFs over several timeframes one year, three year five year if you want to have a look at that too. And it's really just about doing a bit of research. You know, if you're interested in for example, ethical funds, just go online and search for you know, ethical funds listed on the ASX and look at what kind of companies those might be invested in how it's performed. It's all about kind of doing a bit of research and picking it based on that.

  Sally McMullen
  We'll make sure to check some of those resources in the show notes and Just to wrap up, we touched on some of these earlier. But what are the main benefits of investing in ETFs, as opposed to stocks,

  Kylie Purcell
  there's a few reasons that people would invest in ETFs, as opposed to stocks. First of all, it's cheaper. For example, if you want to invest in, you know, a few different stocks, like Tesla, or Google or Facebook, you know, that's quite a lot of money, you're having to pay a brokerage fee every time you invest in each individual company. And in Australia, there's also a minimum investment of $500 per company. So you know, 500 500 500, that does add up to a lot of money. On the other hand, you can invest in an ETF that invests in all of those companies at once. So with that one $500, you could be investing in 100 of those companies. So it's a really cheap way to build a diversified portfolio of stocks. The other reason is they tend to be less volatile than individual stocks that we touched on that before. If He had invested in Tesla, right when it reached the peak, you would have lost quite a bit of money when it plunged again, finally, the more easily accessible through investment apps these days like contact pocket Robo advice apps like Riaz, they're easy to access for young people.

  Sally McMullen
  Yeah, cool. So I actually wanted to talk some more about that. Now, now that we have the lay of the land, we know, you know, what stocks and ETFs are, what some of the benefits, risks and costs are. Now how do we actually do it? How do we invest in stocks or ETFs,

  Kylie Purcell
  it is more simple than people probably think. First of all, you need a stock broker. Through that you can either go to a full service broker, like Morgan Stanley, and they charge a pretty high fee for that. Or you can sign up online through an online share trading app or platform and you can go to find it. I'll come to you to have a look at some of those ones. And you'd have to then, you know, transfer your money over into the account search for the stock or the ad. TF and buy it, it's pretty simple. If you're not too keen on picking and choosing your own stocks or ETFs, you can also go the way of the robo advice, platform or app. And they'll actually pick the stocks or ETFs for you based on, you know, the risk profile that you've given them more information that you've given them about your investment goals. So you basically tell them, you know, I want to make X amount of money within an X time frame. And I'm risk averse, I don't want to take too many risks. And they'll put your money into a fund of either stocks or ETFs, usually, usually ETFs, for the most part, based on that information,

  Sally McMullen
  And then they manage those stocks for you. It's kind of just like happening in the background.

  Kylie Purcell
  Yeah, that's right. They're kind of the new investment advisor. So in the past, you might have hired an investment advisor to do that for you. This is the much cheaper option. So there's not someone who's sitting there and calling you up and asking you if you want to invest in this It's not exactly a robot. It's an automated service. So it's a lot cheaper.

  Sally McMullen
  And you mentioned earlier that they is a $500 minimum for people investing in shares or ETFs, here in Australia, but what if I don't have that much money to start? If I'm using a robo advisor, can I do less? Or what's the deal there?

  Kylie Purcell
  Yeah, so that's the great part about many of these robo advisor platforms. You don't need to invest $500 at a time, every time that's not the case for all of them, but there are some of them out there such as Raiz is probably the first one that comes to mind that a lot of people think of, we literally invest $5 at a time into a fund for you. So you don't need to save up that huge lump sum of money to start investing in stocks, you can start investing in the stock market from you know, as little as little as a few dollars at a time or you know, $100 or $50 as you like.

  Sally McMullen
  So, you mentioned this a little bit earlier. When we were talking about ETF themes, and it's also something that we covered quite a bit in an earlier episode about going green with your money, but I've noticed that ethical investing seems to be a really popular option, especially among young people in Australia right now. So can you talk me through a little bit about that trend?

  Kylie Purcell
  Yeah, ethical investing is definitely taking off. And it's definitely being driven by young people. Ethical investing is about backing companies that are either or investing in companies that are either doing something positive for the environment is often the case or for society as a whole. Or you're avoiding investing in companies that you think are not good for the environment or for society that are doing bad things. And the most obvious one is, you know, mining companies or companies that are producing a lot of greenhouse gases. Yeah, yeah. It's about investing in companies that align with your personal ethical values.

  Sally McMullen
  Yeah, I'd read that off to the bushfires in interest in these ethical investment options, especially when people were looking at this two part, we're just getting more and more attention. So yeah, I think you're right. Like this is the trend, so may as well jump on board now and make some money. But also, you know, you're doing the right thing with your money.

  Kylie Purcell
  Yeah, that's right. And it's great to say in the last couple of years, ethical ETFs have actually done really, really well, like I think it was in last year. The beta shares iffy ethical ETF returns about 33% last year, which was one of the highest performing ETFs. So yeah,

  Sally McMullen
  well no longer the underdogs. Sorry for all of these things that we've spoken about today. So ETFs stocks, if you're going through a robo advisor, whatever it may be, what are the costs and the risks that people should know about? before they get started?

  Kylie Purcell
  The cost of investing is kind of the same across all three areas, you will always have to pay some kind of a brokerage fee when you buy stocks and ETFs When you invest in a robo advisor, sometimes you have to pay a small brokerage fee. Other times you just have to pay an account fee and zero brokerage fees. But there is always a cost to buying and selling or investing in the stock market. The risk, of course, is that, you know, your money could actually go down. You know, if you're investing in an individual stock, there's a there's a really good chance you could lose that money. On the other hand, if you're investing in an ETF Yeah, you could still lose your money. You know, if the if the stock market crashed, you know, if you bought an ETF just prior to the 2008 GFC. Yeah, you could lose half your wealth if we saw something like that again. So that is a real risk. It's just less of a risk, I guess, than investing in individual stock. Hmm. And when you're investing in robo advisors, it's usually even safer. So there are still the same risks. Yes, your money could go backwards over a certain period of time. But because it's being managed by professionals who have picked these safe ETFs often or these safes talks in one Fund, the likelihood of that is less the risks and costs. All quite similar. Just it varies from from product to product.

  Sally McMullen
  Yeah. And I suppose as well, if you're investing less through a robo advisor, then you know, of course the gains are likely to be less, but then the risk is also smaller too. So it's just a good place to start out if you are, you know, thinking about jumping in.

  Kylie Purcell
  Yeah, that's right. risk and reward are always Yeah, they always go hand in hand. So the riskier the investment tends to be, the more likely you're going to get a higher return on your money. On the other side of it, if you're investing in a really safe Robo advice funds, you're probably not going to see your money go crazy or skyrocket anytime soon, but you're also less likely to lose your money.

  Sally McMullen
  And I know this episode, of course, is for people who want to get started in investing. We've spoken a little bit about this in previous episodes, but I guess we cannot Of all investing in our superannuation, right. So it's not like anybody's like really jumping in with no investing history.

  Kylie Purcell
  Yeah, that's right. Even if you don't want to be investing in stocks, you're probably investing in stocks. And you may not even realise that superannuation funds are full of stocks. And some of them are now full of ETFs as well. Other things like bonds and property too. But yeah, that's right superannuation is, is a great example of how we're investing our money.

  Sally McMullen
  And if you had a final piece of advice for our listeners out there who are thinking of getting into investing, what would that be?

  Kylie Purcell
  I think it would just be to look at where you're saving your money at the moment like where are you putting your savings is it sitting in a transaction account, which is returning zero percent, you might want to think about putting it into a you know, either a high interest savings account, or looking at other investment options, because you know, putting your money into a term deposit or a high interest savings account actually is is a form of investing. It's just a very low level form of investing, you're not getting much of a return. And then if you've got some money outside of that, that you can maybe afford to be a little bit riskier with, consider putting that into an ETF, you know, last year ETFs, on average, the high risk of the low risk, all ETFs returned around 21%. On average, there's money to be made. And there's also managed to be lost. If you're not investing your money in a fund that's returning, you know, anything above one or 2%. Really,

  Sally McMullen
  Yeah, Wow, that's really good perspective to have because it's kind of like you're just thinking that your money's sitting in that safe. It's not going anywhere. But like you said, you're potentially losing out on on quite a bit. So yeah,

  Kylie Purcell
  That's right. It's like putting your money under your bed or something.

  Sally McMullen
  Digging a hole in the backyard. Yeah. And for our listeners who want to get started and learn more, where should they go?

  Kylie Purcell
  Yeah, well, you can head over to finder.com.au. We have a homepage that's forward slash investments, and you can Look at, you know, a wide range of investment options and, and and do a bit of research yourself. I write about this stuff all the time. So jump online and check out some of my stuff. And if you want to sort of do a bit more research outside of that, you know, watch the news, watch what stocks are doing in the market, go to the MoneySmart website, ASIC's MoneySmart website. There's a lot of good information there. Yeah, just start looking around and start taking notice.

  Sally McMullen
  We'll make sure to pop some of those resources in the show notes. And like Kylie said, She's covering this stuff all day long. So whether you're a beginner or an expert, there will be some resources for you. So check those out.

  Sally McMullen
  Thanks so much again for joining me, Kylie.

  Kylie Purcell
  You're welcome. It was great to chat.

  Sally McMullen
  And luckily This is not goodbye. So we'll have Kylie back on the show for part two where we're going to be talking about the stock market crash and Kylie is going to give us a bit of a lay of the land and also simply keeps on. Yeah, if you're thinking of swooping in Now, some of the benefits and also some of the risks to be aware of.

  Kylie Purcell
  Exactly right. Yep. There's a lot of things you could be looking out for. If you are looking to inverse, some of you might be worried about what your ETFs are doing right now, or what your stocks are doing and whether you should sell. So we'll go into that as well. Look at what kind of options you might have during this unprecedented volatility.

  Sally McMullen
  And I think as well, we were chatting about this earlier, but we also have a part three in the works, where we'll be talking about alternative investing, including things like gold, cannabis handbags, and a lot of the other Yeah, I guess, alternative investments that we're making the headlines before all of this. So we're gonna bring the limelight back on those things, which I think will be a really fun episode as well. So excited that

  Kylie Purcell
  Yeah, exactly right. It'll be really interesting to watch what alternative investments are doing during this time because there's a lot of very unusual and interesting things happening in the markets at the moment.

  Sally McMullen
  Perfect. Well thanks so much again, Kylie, and until next time, stay safe. Thanks for listening to pocket money from Finder. Head over to finder.com.au/podcast for the show notes for this episode. The Finder podcast is intended to provide you with tips, tools and strategies that will help you make better decisions. Although we're licenced and authorised, we don't provide financial advice. So please consider your own situation or get advice before making any decisions based on anything in our show. Thanks for listening!

The Finder Pocket Money podcast is intended to provide you with tips, tools and strategies that will help you make better decisions. Although we're licensed and authorised, we (and our guests) aren't providing any form of financial or legal advice. So please consider your own situation and get proper advice about your individual circumstances before making any decisions based on anything on our show. Thanks for listening.

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Pocket Money is hosted by Sally McMullen and Kate Browne, produced and directed by Franko Ali, with editing and theme music from Brianna Ansaldo of Bamby Media.

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