Introduction

[ILoveTheIRD]

G'day,

I'm a 20 year old from Palmy. I have been keen about finance for a while. I've been a contributor to PersonalFinanceNZ on Reddit for a while and had been lurking on ST forums for a few months.

I had wanted to be a property investor for a while but over the past few years PI has gone from being something which could have been viable to not worth the trouble anymore. This leaves me with no choice but to learn stock investing instead. I am a bit of a Boglehead but over the next few years I'd like to learn fundamental investing and be able to make some good stock picks.

I've done the typical thing of keeping some decent amount of cash aside (at least for a 20 year old), switched my KiwiSaver over to Simplicity, contributing $1k to get $500, and I have a humble Sharesies portfolio consisting of ASX.KGN, NZX.CO2, NZX.SKT, and USF.USX. The aspiration is to be a buy and hold investor.

I'm looking forward to being around likeminded people here. There's not many people who are comfortable talking about money or investing. Fortunately here I can talk about finance which excites me.

[TeslaGod]

At a young age you should be going high risk high quality companies, you will find better returns on the NYSE than here in NZ

I'm in my 40s I have several million invested in the share market so I have to hedge my bets and protect my portfolio .

You are young and have many decades ahead to grow your wealth which is your strength.

There should be no reason why you should not be financially free and able to retire in your 30s so long as you invest 50 to 80% of your annual income.

Stopping you from achieving this will be:

Your self
Your ego wasting money on things you don't need
Friends holding you back
Girl/Boyfriend not sharing the same vision
New Zealanders hate towards money
NZ medias hate towards money and wealth.
Comments on social media and forums like this.


Achieving vast Wealth can be very lonely but opens up world's to new freedoms most people will ever experience in there short life times.

Hopefully this helps.

[Panda-NZ-]

I would actually advocate high spending on hobbies and sex while young.

Youur body will decay leading to much less enjoyment from these. While you can still work later on.

[Panda-NZ-]

Plus its a time where you still have lots of friends from school.
So make use of those support networks where possible.

[peat]

wrt to dualistic dichotomy demomstrated by TeslaGod vs PandaNZ I think a middle ground is probably sufficient. I definitely believe in living ones life and youth is a great time to do it.
For instance despite its obvious financial benefits I would suggest most people leave home by 20 at the latest because (I think) its hard to find yourself when smothered by the safety of a middle class upbringing.

my tip is to read all of Beagles posts and Mavericks too. Snoopy is a bit involved but will show you what can be done if you have the determination. Percy is onto it but doesnt crunch the numbers for you.
Ignore all the spite.

Understand TA just for the additional perspective
P/E is interesting but P/E/G is really where its at.

Dont trust a word the Directors and Execs say.

[TeslaGod]

I would actually advocate high spending on hobbies and sex while young.

Youur body will decay leading to much less enjoyment from these. While you can still work later on.

Totally disagree

From a males perspective if you are financially free at the age of 30 your pool of female mates is drastically increased giving you the best available healthy usually younger and better looking than your self to begin the process of starting a healthy stable wealthy family.

This is science and as in the animal kingdom, The top female species choose there mate on hierarchy in the herd.

There's a reason why many Billionaire's marry super models.

Wealthy men marry the same class and lower.

Wealthy women marry the same class and higher

Statistics prove this.

[couta1]

Totally disagree

From a males perspective if you are financially free at the age of 30 your pool of female mates is drastically increased giving you the best available healthy usually younger and better looking than your self to begin the process of starting a healthy stable wealthy family.

This is science and as in the animal kingdom, The top female species choose there mate on hierarchy in the herd.

There's a reason why many Billionaire's marry super models.

Wealthy men marry the same class and lower.

Wealthy women marry the same class and higher

Statistics prove this. Sounds incredibly shallow, I wonder how many of these relationships last for the long haul, not many id bet.

[Norwest]

Welcome to the forum! My tip to you at your age is to be brave and take educated risks, you can afford to fail at your age.

[Getty]

I would actually advocate high spending on hobbies and sex while young.

Youur body will decay leading to much less enjoyment from these. While you can still work later on.

No surprises, that with all the effort gone into getting Pandas to breed in captivity, you would advocate free love.

Oops, have I just had a Simon Bridges moment?

Perhaps we both have.

[percy]

No surprises, that with all the effort gone into getting Pandas to breed in captivity, you would advocate free love.

Oops, have I just had a Simon Bridges moment?

Perhaps we both have.

Pandas would not fit in the back seat of my Nissan.?

[Getty]

Pandas would not fit in the back seat of my Nissan.?

You must be part of the SUV revolution.

Sexually unsuitable vehicles.

[fungus pudding]

Pandas would not fit in the back seat of my Nissan.?

They'll fit across the seat if you leave both doors open.

[Getty]

Perhaps an ex police Panda patrol car would suffice, or a Fiat Panda.

[Charlie38]

Get to know the current tax rules. If your taxable income for the year is $ 100,000.00 the tax on that is $ 23,920.00 so you only get left with $ 76,080.00 to live on/invest.

PIE incomes (including dividends) are taxed @ 28% which is a final tax for those with a marginal tax rate of 33% (ie paying tax @ 30% or higher for every extra $ you earn above 40K).

Governments can change the tax rules with the stroke of a pen so try to base your calculations for retirement income only on what you can provide for yourself.

Don't assume that National Superannuation will always be there for you - some year ago it was subjected to a very unpopular surcharge if you earned "too much". Plan accordingly.

Its not so very many years ago that the sum deemed to be suitable for retirement was $ 500K for a married couple. Now I read that the latest suggested figure is $800K per person.

Those relying on "safe" investments providing interest income have had a serious decline in their living standards in the last few years. With interest rates of say 1% the purchasing power of any capital sum held is being seriously eroded by the inflation rate.

New cars are great! but work on the basis that they will be worth approx 20% less as you drive them out of the dealers yard!!

Don't rely on brokers recommendations!! I have tracked their recommendations announced every New Years and have found that by year end they have been lucky if they got 2 out of 5 right.

Don't beat yourself if you get an investment wrong and lose money. We all do that - the trick is to learn from the experience, move on, and try not to repeat it.

Steer clear of any "Investment Advisor" who does not admit that they also make mistakes. One I spoke to in the past told me that they got it right about 80% of the time - needless to say they got some of my money!

Above all - good luck and enjoy the ride - it can be a rollercoaster at times but you do have time on your side. Anything you set aside is better than nothing.

[Panda-NZ-]

Perhaps an ex police Panda patrol car would suffice, or a Fiat Panda.

I advocate marrying someone of means who is 30-40 years older.

https://www.youtube.com/watch?v=-ch3BdXOgyc

[Getty]

I advocate marrying someone of means who is 30-40 years older.

https://www.youtube.com/watch?v=-ch3BdXOgyc

Sound strategy, but its not working for me, I cant find anyone over 100.

Now, a lady 30 to 40 yrs younger, hmmmm