Well here’s the main point of Dad’s (Notfancial Advice). I’ll call it the “DNA”, to keep referring back to it as that; and because its a good metaphor to me on how he has operated.
This is the bare minimum concept – the rest of this book is how to apply it:
With any money you can, buy shares in low cost, index tracking investment funds/companies.
Ones that track the top 200 companies of the ASX, with low management fees, that pay decent dividends (comparatively); ….then continue buying them; buying through one of the big bank’s online trading platform’s is fine (like nabtrade or commsec), then manage the yield and set up a personal financial structure of trusts and companies that manage your growing assets.
This book will explain each of these aspects and the reasons for them, and the comparative benefits in performance you enjoy from sticking with this strategy.
That is, ASX shares such as IOZ and ILC (these are ETFs of different size, ie. Market capitalisation, but do the same thing in tracking the top 200 ASX) or AFI and ARG (these are LICs, AFI was the share of choice by the Barefoot Investor in his original book).
This is actually what Google or ChatGPT tells you (I just did this) when you ask:
“what should I invest in that will provide long term growth?”
Answer:
If your goal is long-term growth (10+ years), the answer isn’t a single “hot investment” — it’s a strategy + the right asset mix. The data is very clear: equities (stocks) outperform most other assets over long periods, often around ~7–10% annually on average.
Link here: https://chatgpt.com/share/6a1a802f-a8b4-83ec-be98-8d1c705661a7
Or: what shoudl I invest in to create passive income?
Or this:
“The research shows indisputably that a sure way to investment success for the everyday investor- based on the returns of the past 30 years anyway- is to have a portfolio built around a large percentage of exchange-traded funds or listed investment companies that track a broad index.”
This book/website will describe how to actually do that, in the face of financial advisors, legal advisors, stock market crashes, housing booms, government changes, tax implications, etc etc… All this is the hard bit.
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