In terms of investment, I've learned about and looked into a whole heap of different things from Bitcoin to silver bars - and different clients like different things. I’ve worked with a whole range of different tastes: shares, managed funds, index funds, property, commercial property, all sorts of different stuff.
It can be super overwhelming to start, so I want to give you a bit of a framework that makes it a lot simpler to actually get your head around how you might want to invest. Broadly speaking, I think that there's kind of two categories of investments:
One is investing in businesses, and the other is investing in properties.
In terms of the elements of those businesses or property, you've got passive investments, where you don't need to have input for them to keep ticking along. You also have active investments - an example of an active business investment for me personally, is Inspire. I'm actively working in it, growing the value, growing the profit - that's the goal with my active business investment.
A passive business investment is like shares. So a share in the Commonwealth Bank, is actually owning a percentage of their business. Even if you own one share, you'll still get a very small percentage of their profit or a very small dollar amount of their profit, paid to you each year. So CBA, all the banks, Woolies, Coles, stuff you buy on the Australian Stock Exchange - that's what I'd consider to be a passive investment in a business, something you don't have to work in.
If we look at property, a passive property investment would be a rental property or investment property. Some people do take a bit of an active role in renovations, or maybe they manage it themselves instead of appointing an agent, but normally it just ticks along without you having to go and show up every day and say hi to the tenant. Versus an active property investment, which is more development. For example, you might buy a block of land or a house and then swap it with townhouses, or split a block, a big block like a line down the middle and put two houses on it - there are all sorts of different options there. But that to me is an active property investment.