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{{label}}Chris Judd - 5 min read
28 May 2020
Looking to learn more about the world of investing? AIA Vitality Ambassador and self-taught investment guru, Chris Judd, shares some resources that have helped him along the way.
The best investment anyone can make is in their own education. This can be applied to practically every single aspect of life. But for now, I want to focus on how we can use knowledge to help us when it comes to the world of investing.
It’s pretty common for people to assume investing isn’t for them, or that it’s something best left for the bigwigs on Wall Street. But most people make investment decisions every single day. Buying a house or a car are major investment decisions that many people make; so is deciding to save some of your pay or choosing how you buy something – be it through savings, on your credit card or through a ‘buy now pay later’ program. Even deciding who to bank with and where you put your super – they’re investment decisions too.
I bought my first equities with my dad when I was 16 after receiving some surplus funds from an AIS program I was selected in. I obviously wasn’t investing large amounts – and neither my dad or I had enough knowledge to invest large sums in direct shares (not that we realised it at the time). That experience, coupled with a desire to not be dependent on others, led me on an investment education journey that continues today.
I’m not suggesting investing in direct equities is for everyone, because it isn’t. But for those who are keen in expanding their knowledge on their financial health or investing, here are a few resources that might help.
It might seem odd to start with this one, since it’s not really about the kind of investing we’re talking about. But for anyone who wants to start down the path of investing, ensuring their overall financial health is the very first step – and there are few better resources out there to help you do that than The Barefoot Investor by Scott Pape, which needs almost no introduction by now.
At first glance, you might think Livewire is the kind of resource that experienced investors use – and you’d be right. With its to-the-minute analysis and reportage on what’s happening in the investment world and why, it’s one of Australia’s most trusted investment resources. But it’s also a great place to learn. It’s full of useful advice for beginners (if you utilise the search bar), and their newsletter is an awesome resource for helping you stay on top of investment news and insight.
I also can’t resist the opportunity to plug some free finance content that I’ve been creating as well. Chris Judd Invest produces two shows. Talk Ya Book is where I sit down with a professional investor and hear about their highest-conviction stock idea and Masters of the Market which is a “this is your life” style program where I interview some of Australia’s best investors.
Buying a house is often the biggest investment many people will make in their lifetime, and starting down that path can be daunting. So before you stroll up to the bank to ask for a loan or even think about raising your hand at an auction – it’s important to arm yourself with as much knowledge as possible. Propertyupdate.com.au is chock full of articles and podcasts that will help answer many of the questions you might have – and probably even a bunch you hadn’t thought to ask.
I’ve been talking about using knowledge to make smart decisions. But even smart decisions go wrong sometimes – and understanding that is as much a part of investing as anything else. Annie Duke’s book, Thinking in Bets, dives into the idea of the best decisions not always yielding the best outcomes, and how we might help protect ourselves from uncertainty. It’s not a book that’s specifically about investment advice, but there are some themes and ideas in here that can be applied to the world of investing.
Sometimes the best way to learn about something is to do it. But when it comes to investing real money, jumping in with no experience or knowledge is definitely not recommended. That’s where practice trading comes in handy. There are plenty of apps and websites available today that enable you to ‘practice’ trading with pretend money, so you can get a feel for how it all works with zero risk. You can practice for as long as you like – a few months, a couple of years – until you feel confident that you have a good handle on things. And if after all this you’re still not comfortable making your own investment decisions, you can always engage a professional to get some sound advice.
Former Australian Rules footballer Chris Judd is familiar with how to get your heart rate up and push yourself physically. Twice winner of the prestigious Brownlow Medal, Chris is an honoured sportsman and father to four children, Oscar, Billie, Tom and Darcy. The information in this article is general information only and is not intended as medical, health, nutritional or other advice. You should obtain professional advice from a medical or health practitioner in relation to your own personal circumstances.
Disclaimer:
The information in this article is general information only and is not intended as financial, medical, health, nutritional, tax or other advice. It does not take into account any individual’s personal situation or needs. You should consider obtaining professional advice from a financial adviser and/or tax specialist, or medical or health practitioner, in relation to your own circumstances and before acting on this information.
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