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751 success vs. luck, DHHF or GHHF, debt recycling, shiny objects + SMSFs
Dec 16, 2024
John Cachia, recognized as Advisor of the Year from Thriving Wealth, and Deline Jacovides, Inspire Women’s Advisor of the Year from Mazi Wealth, dive into the interplay between luck and strategy in financial success. They discuss the risks of geared ETFs and why chasing shiny objects rarely leads to success. Deline and John also explore debt recycling and whether self-managed super funds really are the best choice, emphasizing the need for personalized financial advice and careful investment strategies.
01:05:14
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Quick takeaways
- Financial success is influenced by a combination of personal effort and luck, challenging the notion that hard work alone guarantees wealth.
- Investors should approach the concept of geared ETFs with caution, acknowledging both their potential for amplified gains and significant risks involved.
Deep dives
The Impact of Social Media on Financial Decisions
Social media platforms, like Facebook and Instagram, exert significant influence on financial decision-making, often leading individuals to adopt strategies without sufficient caution. The podcast emphasizes the need for a critical assessment of advice found online, particularly when unqualified individuals promote their successful financial strategies as universal solutions. Caution is particularly important when engaging in discussions in financial groups, where misinformation can spread rapidly, making individuals vulnerable to harmful advice. Participants advocate for personal evaluation of online suggestions, comparing it to seeking medical advice from a qualified professional rather than relying on anecdotal experiences.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode