Liz Koh: Author, financial planner and financial therapist, talks with Darcy Ungaro about how who we are, ultimately governs how we invest.
Liz Koh, author and financial therapist discusses her book 'Your Money Personality', and unlocks some insight into how who we are, (financially speaking) drives our investment decisions.
In part you'll hear how Liz advises her clients around conceptualizing retirement - if you're decades away from retirement, you need to know this now. Liz covers off the three stages of retirement and what influences how your investment portfolio should be constructed.
3 hot tips, 10 best tricks, how to pay off your mortgage in 7 years, building wealth the fast way, the smart way, the easy way...we've all seen these headlines. They're a mixture of click bait fused with a self-righteous tone that mansplains (or womansplains!) how to it 'the proper way'. Is there really a 'right way' to grow wealth?
Liz discusses how there is in fact no right or wrong way to build wealth. Everyone is wired differently so financial advice in this regard needs to complement who you are, rather than complicate who you are.
Anyone can 'build a program' to help you manage money better which is based on good sound theory - perhaps sell the concept at a seminar to sucker you in to paying thousands to effectively receive a templated program too, but does this really help the everyday investor build wealth? I don't think so!
Your attitude towards risk and your desire to create wealth - these two fundamental characteristics of your personality will determine how you handle your finances and make investment decisions. Without understanding who you are financially and without understanding your partner, there's a strong chance you're going to make decisions that may work in the short term, but ultimately fail in the long term.
This recording was done in Wellington at the office of Liz Koh recently - please ensure that you listen to both parts
As discussed in the show Liz has kindly offered a free e-book to all listeners of this podcast - please message me on our facebook page to receive your free copy of The 6 Secrets Of Successful Investing 2018.