Joney Talks!

In today’s episode, we will speak to my friend Sandy whom I met at Fincon.

Her book “The Money Master: Inside Secrets on How to Make Your Money Grow and Stay Safe” is currently being printed and it will be released in early 2020. We will discuss a few themes covered in the book with special attention to investing in the stock markets. We dispel some of the common myths (should you follow the financial news every day? Should you buy in the latest hot stock picks?…), Sandy will explain some fundamental concepts, help you not overpay on fees,..in short, she will guide you to become more comfortable with the idea of getting started in the stock markets. It is true, it might look scary and complicated from the outside but as you will see, it is not. 

We also discuss the more controversial subject of investing in cannabis stocks and touch upon Sandy’s Real Estate investing experience and last but not least, we also go through Sandy s personal Finance journey and the money lessons she learned growing up.

Listen here

…or listen on Apple Podcasts or Spotify.

This episode is for you if you are interested in getting into the stock markets but have not taken the plunge just yet because of what you have heard around you or seen in the media (the common myths).

Please note that whatever we discuss, it is not financial advice, even though we might both seem excited about talking investments and stock markets.

Key Takeaways:

• There are essentially 3 ways to invest in the stock markets :
  • Self-directed investing: This is the most cost-effective way, you set your own portfolio.
  • Via a Financial planner/adviser.
  • or Robo-Advisers
    • US: Wealthfront, M1 Capital, Betterment, etc.
    • United Kingdom: Swanest, Nutmeg, MyMoneyFarm, Wealth Horizon
    • Germany: Vaamo, Ginmon, Cashboard, Quirion
    • France: Yomoni, Marie Quantier
    • Italy: MyMoneyFarm
    • Netherlands: Pritle
• Get more knowledge :
  • Read books about investing from expert investors.
  • The more educated you are, the more comfortable you will become to start investing and you will realize it is not that complicated.
  • Banks, financial companies make it look and sound complicated because they want to appear as “experts” to you and get a piece of the cake.
• Do not focus on the latest hottest stocks or trends, think long-term.
• Investing is not trading (neither it is gambling), both approaches are fine, just know what you are getting into.

Who is Sandy Yong?

Sandy Yong earned a business degree at Ryerson University in Toronto, Canada. After graduation, she started her professional career and started saving her hard-earned money. She decided to invest in mutual funds as recommended by her financial advisor at one of the big banks. Unbeknownst to her, these mutual funds were high-risk and had high hidden fees. Not too long after, she lost money and was upset that she lost thousands with the bumpy roller coaster ride of the stock market. It was a tough lesson to learn, but she decided to take her money matters into her own hands and has become a self-directed investor. She has read a plethora of personal finance books over the past ten years.

Sandy has generated a successful self-directed financial portfolio and owns several Canadian income properties. As a Professional Speaker and Toastmaster, she has educated working professionals on how to invest in the stock market and in real estate. Sandy proudly partners with CAMH: Centre of Addiction and Mental Health. For every book purchase, she donates $2 to assist this charity with mental health research. Her vision is to help people feel comfortable conversing about money and mental health, as both can be sensitive subjects and impact our daily lives.

Read the full bio here.

RESOURCES 

• Main website: www.sandyyong.com 
• Linkedin: Sandy Yong
• Facebook: The Money Master Book
• Instagram: @themoneymasterbook
• Twitter: @MoneyMasterBook 
• Books:
  • Girl, Wash Your Face
  • Girl, Stop Apologizing

• Best purchase under 100 USD: The Five Minute Journal.

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• Disclosure: This post may contain affiliate links. That means I may make a small commission (at no cost to you) if you make a purchase. This will help to support Joney Talks!