Highlights:
- Top 4 tips he tells anyone who wants to build wealth through investing
- The simple strategy that grew his investments to over 7-figures
- Costly mistakes even investment professionals make (and how to avoid them)
Being in the investing industry opened Luke’s eyes to the power of self-investing.
With investments over $1,000,000, he shares his top tips that helped him get there so you can use them too!
Want to (anonymously) share your investing experience and tips, whether you are new or experienced? Click here!
How did you start investing?
In university I decided I wanted to have a career in the investing field. I thought it would be an interesting job that never gets boring because you have to stay up on current events.
I graduated in economics and pursued investment designations like the CFA.
Through school and early years of work, my eyes opened up to the investing world and I started to try my hand at it - but I made lots of mistakes.
It wasn’t until later, when I started to read books and listen to podcasts on investing, that I learned how to do it better and discovered my philosophy around investing.
The best advice you ever got about investing was…
“Always be buying!”
Invest in low-cost equity index funds using dollar-cost averaging.
If I offered you an investment that could return 8-10% per year compounded over time, you’d likely take it. Well, that’s the S&P 500 Index. No need to get cute picking stocks.
This is the core of my investing strategy.
Do you have a favourite ETF?
VFV - it’s low cost, diversified across 500 companies, revenue exposure is diversified globally, and strong exposure to growing technology companies.
Investing regularly is one of the biggest factors in growing your wealth.
Passiv makes it easy! Invest all your contributions and dividends at the click of a button.
What resources did you use to learn about self-investing?
What I learned in uni and CFA opened my eyes to it, but it was self-learning through books and podcasts that really pushed me forward.
All the podcasts I listened to generally talk about passive index investing and/or financial independence.
Here are the podcasts I used to learn self-investing:
- The Money Guy Show (this is the main one I listened to)
- Millionaires Unveiled
- I Will Teach You to Be Rich (now called Money for Couples)
Want to get started with self-investing?
Click here for our easy-to-understand guide that explains the kind of funds to invest in!
How has Passiv helped you?
It makes the whole process of DIY passive investing easier and less complicated.
And the easier and less complicated it is to invest, the easier it is to stay on track.
I set my predetermined allocations, and once money is transferred to my investment accounts, I get a notice from Passiv telling the trades to do. I click a button and it’s done.
Click here to get your own Passiv account and make investing easy!
How do you deal with the ups-and-downs of investing?
Volatility is your friend. Learn to appreciate that the best time to buy is when markets are down.
Think of it as buying stocks on sale - who doesn’t love a sale!
Did you ever make a mistake with investing? What did you learn from it?
Trying to pick individual stocks. It’s very hard to beat the market over the long term; even the professionals don’t.
As you’re starting to build your portfolio, your contributions matter much more to overall portfolio growth than your return. So don’t get distracted by trying to pick winners.
My other mistake was churning my portfolio too much. I was buying and selling too frequently, and this can lead to higher fees, taxes, and stress (and often without improving returns).
Pick a simple investing strategy and stick with it.
The advice I’d give to someone who wants to build wealth through investing is…
✅ Pick a couple of low-cost index funds
✅ Invest in them regularly through automated contributions
✅ Always be buying
✅ Start young
Building wealth is not complicated, but it takes 2 things: consistency and discipline.
We’d love to share your investing experience!
Whether you’ve been investing for a month, a year, or a decade - people want to hear from you!
You’ve got tips, strategies, and advice that is helpful to others.
We will share them anonymously on our blog so others can learn from you.
Click here to share your experience!
* Names have been changed for privacy. The thoughts and opinions in this post are from the individual and their own experience.
