In this special short series we ask experts, colleagues, clients and industry figures to answer a few questions to get an idea of their approach to investing.
What is the most important investment advice you give or have been given?
Investing is for the long term, it’s not about doubling your money overnight, day trading, it’s about being a lazy plain jane vanilla investor. This is where doing less really is more!
What was the worst investment you have ever made?
Spending too much on liabilities that give you no return like my wardrobe. Over the years I have spent thousands on clothes and accessories that I really didn’t need, and not to mention beauty products I never used. I can assure you present Molly would tell past Molly to put the bag back, that she only needed one face moisturiser and to put that money into ETFs and watch the magic of compounding do its thing!
What was the first investment you made?
My very first investment was buying shares in David Jones – I knew what it was and I shopped there a lot with my family, so I thought it made sense to buy it. As I saw the trend of online shopping happening, I sold out and switched to tech stocks.
What’s currently in your investment portfolio?
My best performers to date have been in Health Care and Technology. My portfolio currently includes some sector and broad market ETFs, as well as Health Care and Technology stocks.
Molly Benjamin was not very good with money. Although she had been working in the financial sectors for national and international companies for most of her career such as Barclays, the Financial Conduct Authority and the Bank of Queensland as a communications specialist. In fact, over a glass of prosecco with her gal pals she realised they were all a bit #clueless when it came to their personal finances. As an experiment, Molly put on an info-night in her living room. No big deal, just a few girls, some champagne and a money expert with real-world insights.
Things really took off from there and Ladies Finance Club was born in London in 2018 and in 2019 Molly launched in Australia with the same mission to build a tribe of money-savvy women and transform their relationship with money. Since then over 10,000 women have attended an event, webinar or workshop in Australia and U.K. and she has partnered with the likes of Financial Times, General Assembly, Fidelity International, Vanguard and run workshops with global law firms, fashion houses, tech companies such as Deloitte and Microsoft. Molly is passionate about empowering women to take control of their own finances (without the boring bits) and is a fully qualified money coach.