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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-09-02 02:50:12" ["slug"]=> string(43) "15670:capitalising-on-the-covid-19-pandemic" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(56) "/resources/podcast/capitalising-on-the-covid-19-pandemic" ["image"]=> string(43) "images/podcasts/Billie_Christofi_WEB_ne.jpg" ["image_alt"]=> string(0) "" } }

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Young investors focusing on the future: Robo-adviser

By Lucy Dean

July 10 2018
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Invest

Young investors focusing on the future: Robo-adviser

By Lucy Dean
July 10 2018

Young Aussies using robo-advisers prioritise long-term saving and investment goals over weddings and holidays, new research has found.

Young investors focusing on the future: Robo-adviser

By Lucy Dean

July 10 2018
Share

Young Aussies using robo-advisers prioritise long-term saving and investment goals over weddings and holidays, new research has found.

According to a customer insights study from automated investment service Six Park, 36.5 per cent of its clients are using the service to boost wealth outside of super while 28.6 per cent use it to grow their retirement savings.

Both these goals scored higher than saving for property, a wedding or a holiday, and Australians under the age of 45 were most likely to be focusing on long-term savings goals.

“It’s very encouraging to see younger people be more engaged with their long-term savings activities, especially in the 18-24 age bracket,” Six Park chief executive Pat Garrett said.

“It’s no surprise that the younger demographic is embracing technology in financial services, and these results demonstrate that these clients understand that investing is not about getting rich quick or timing the market – it’s about creating wealth over time through intelligent investment diversification and keeping fees low.”

Continuing, he suggested concerns around fees, transparency and returns are likely heightened by revelations made the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Across all age groups, prospective returns (23.3 per cent), volatility (16.7 per cent), trust and transparency (13.3 per cent), and trouble investing in property (13.3 per cent) were the main concerns.

Women were most likely to be concerned about property investment in the near-term (25 per cent), compared with 10 per cent of male respondents.

Men were also more likely to regularly check their portfolios, with more than half checking in weekly or even daily. Half of female respondents check it once a month, on average.

Mr Garrett said this finding aligns with evidence that female investors are more likely to focus on long-term goals.

He elaborated, “An analysis of more than 8 million clients by Fidelity in 2017 suggested that women outperform men when it comes to generating a return on their investment, so this client feedback is not surprising. We’re very pleased to see more women using robo-advice as a smart way to build their saving.”

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