#LetsTalk Sara - Financial Planning

For many millennials, financial planning continues to be an abstract idea or for use of better words, a burden that is not worth thinking about. Unfortunately, to maximize your chances of retiring without debt, securing your future home and kids education (if you eventually want kids), becoming knowledgeable about your spending, savings and investments while you are in your twenties to mid-thirties, is truly ideal. That is why, in today’s #LetsTalk podcast we quickly chat with Sara who is a life and financial coach, who will soon be launching her own online investment course. This woman has a very fascinating life journey, more importantly, is gifted in being able to simplify the concept of finance and investments in a way that makes it accessible for everyone to learn about it.

Listen to full interview here: LINK

Q1. Tell me about yourself, and how did you get to this point of your career path
A.    I was an engineer first. I came to Canada twenty years ago, where I did my master’s and phd in chemical engineering. After that, I worked at Atomic Energy of Canada. Now, I am working on developing an investment course. So, pretty much, I am a mom, a wife, a life coach. How I really earn my income is through investing and trading. Unlike other traders, I invest my (stock) trades at the beginning of the month, then record my gain and/or loss at the end of the month, in between I don’t watch them.

Q2. The world of financial planning, and investments is very daunting for many people. What are key principles to understand about investments, take us step by step in what I like to call ‘investing for dummies’.
A.    Let’s back up a little bit. As an engineer, I wasn’t content with my 9 to 5 day to day job, and just collecting a paycheck without any creativity going into how I earned my money. That’s when I started looking into securing my finances outside of my job or beyond my immediate employer. That’s also when I understood that ‘money is the way to create more money within itself’, which is investing. When I realized the importance of managing money and having it work for you, I began to take trade and market analysis courses, which is why I can now invest in the market without having to look at it too much.

So when I say market, I am referring to the stock market. What is a stock? We all know what is a company, like Coca Cola, Home Depot, Best Buy, Future Shop, all are companies. The way companies raise funds is by starting a lemonade stand for example, to sell to more people and make larger quantities of lemonade, the company will need more money to buy equipments and hire staff to make the larger amounts of lemonades. But at the beginning, the lemonade company doesn’t have this money, so you (lemonade stand owner) try to pull funds from friends and family, in return of them giving you the money that you need to grow your business, you promise them part ownership of the lemonade stand; a stock. This is the same example with larger companies like Home Depot, similar to the lemonade stand example, instead of pulling money from uncle Sam or auntie Sara, they put their company in what we call the stock market to get money from the wider public, and that is the start of IPO (initial public offering).

This way, as a consumer of products from the company in which you invest, you drive or increase the market for it. But also by owning share of that company, you become part owner of that company and make money from your consumption.

Q3. How do you get into investments? What is the minimum amount to invest in? Which companies should you invest in?
A.    The minimum amount of money you should invest in should be about $500 to $1000. Now, opening a trading account, you want to pick the one with the smallest commission fee. Especially when you go with a broker. If you start by buying a stock for $1000, you don’t want to pay $50 in commission. You always want to minimize the commission (trading) cost, because everytime you buy a stock, you have to pay a commission fee. In Canada, I use www.questrade.com ( $5 every time you buy, and $5 everytime you sell, a stock), or you can go to your local bank and use their ‘brokerage’ service for buying stocks, but they have a higher commission fee.

Q4. What is your upcoming online school, and give us a glimpse of topics that will be covered?
A.    After investing for a long time, I started thinking about my kids and their future. I don’t want them to end up working in a field that they don’t like, and stay there just for money. That’s when I started thinking about teaching them at an early age about investment. If they start learning about investment at the age of 10 or 12, they can get into investing. If in the future my son decides to become a hip hop dancer or works in charities, he doesn’t have to worry about money because the money will worry about itself. He (my son) will just invest, and pursue whatever (career) he likes. That way, I don’t have to worry about forcing him in a career path like engineer, doctor, or whatever career that leads to making a lot of money. Secondly, after working as an engineer and not liking it, I gradually became good at investing and realized that there is no point in working within a field that I don’t like, that’s when becoming a Life Coach and relationship building came naturally came to me. In the end, people always come to me for advice around financial security.

Many people love money but don’t know how to manage it. That’s when I thought to myself: ‘I like investing, I like people, I like teaching investment to my kids’, that’s how I started creating a course that aims to help people invest in the stock market. Courses that are available out there, are very expensive and take a long time to learn. I am a slow learner, so if I can simplify this knowledge and understand it, so can you. My course merges everything that you need to know in investing at a reasonable cost.

Q5. What legacy would you like to live in this world? How would you like to be remembered?
A.    I want to be remembered as someone who helps people when they need help.

Q6. What are three words you would use to describe yourself?

A.    Fun, loving, and caring.

For the full interview on managing stock investment risks, picking your stocks, and more on Sara, listen to full interview here: LINK
Sara's website: www.Savalaxs.com

1 comment

  1. Thank you Nohemie. Always believe that investing is one of the most important way to increase your well. Sara




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