Well here\u2019s 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. <\/p>\n\n\n\n
This is the bare minimum concept – the rest of this book is how to apply it:<\/p>\n\n\n\n
With any money you can, buy shares in low cost, index tracking investment funds\/companies.<\/mark><\/strong><\/p>\n\n\n\n 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\u2019s online trading platform\u2019s 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.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n 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).<\/p>\n\n\n\n This is actually what Google or ChatGPT tells you (I just did this) when you ask:<\/p>\n\n\n\n “what should I invest in that will provide long term growth?”<\/p>\n\n\n\n Answer:<\/p>\n\n\n\n If your goal is\u00a0long-term growth (10+ years)<\/strong>, the answer isn\u2019t a single \u201chot investment\u201d \u2014 it\u2019s\u00a0a strategy + the right asset mix<\/strong>. The data is very clear:\u00a0equities (stocks) outperform most other assets over long periods<\/strong>, often around ~7\u201310% annually on average.<\/mark><\/p>\n\n\n\n