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Money is a reward, don't waste it

Meet the personalities behind nabtrade. Does a surgeon make a good investor? Certainly, they have the smarts and the ability to read large quantities of material and absorb the content – they are big pluses. But according to Laparoscopic specialist and general surgeon, Aileen Yen, she is not yet a good investor.
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Does a surgeon make a good investor? Certainly, they have the smarts and the ability to read large quantities of material and absorb the content – they are big pluses. But according to Laparoscopic specialist and general surgeon, Aileen Yen, she is not yet a good investor.

Aileen’s philosophy is simple, she works hard and wants her money to be her reward. She does not want it to be wasted. “I could spend it on other things, but investing is wise as it is planning for the future”, she says.

Her interest in investing was sparked after a friend recommended investment advocate, Peter Thornhill. She went to a seminar, read one of his books, and put what she had learnt into practice – perhaps Aileen is a better investor than she thinks, and those skills mentioned earlier have already come into play.

But Aileen does still consider herself a novice investor, although one that is eager to learn more. She has asked friends that also invest for advice but has already learnt not to act until she has done her own research.

Aileen’s early investments were in bonds, which is where she was introduced to the offerings of Citigroup. When the Australian wealth and retail operations of Citi were purchased by NAB last year, she followed her relationship manager across to NAB, and has been pleased with the additional wealth offerings the combined operations provide. Already, Aileen is looking at new income stream products like Nerti’s and hybrids for diversification. However, she is still in the learning space.

Although Aileen is not keen on foreign exchange (FX), she has setup an international trading account, but has yet to fund it as there are too many events occurring internationally to give her confidence to invest at this stage.

Despite a busy workload, Aileen educates herself in between breaks with information provided by platforms like nabtrade, but also other avenues like LinkedIn, which has a lot of investment news and educational content provided by companies and individuals.

The later has given her opportunities into start-ups, which she is looking at cautiously. 

Like many, Aileen’s first investment was an investment property, followed several years later by shares and bonds. She felt nervous getting started but was prompted into action by colleagues talking about what they were doing. She has dabbled in fintech stocks but withdrew when performance was well below her expectations.

To provide diversification to her portfolio Aileen holds several listed investment companies: “It provides the balance I’m looking for and I don’t really have a preference, except that they are diversified,” she says.

Aileen’s advice for new investors is “do your homework before you commit, and never look down on anyone, as you never know where good advice will come from.” She also doesn’t think men or women make better investors – “we are all as bad as each other”.

Aileen’s goal from investing is for steady growth, and for general advice on life, she says: “Don’t spend more than you earn, and never borrow more than you can.” 

 

The nabtrade service is the information, trading and settlement service provided by WealthHub Securities Limited ABN 83 089 718 249 AFSL No. 230704 (WealthHub Securities). WealthHub Securities is a Market Participant under the ASIC Market Integrity Rules and a wholly owned subsidiary of National Australia Bank Limited ABN 12 004 044 937 AFSL No. 230686 (NAB). NAB doesn’t guarantee its subsidiaries’ obligations or performance, or the products or services its subsidiaries offer. Click here for the terms of use about the nabtrade service provided by WealthHub Securities. This article contains general advice only and has been prepared without considering your objectives, financial circumstances or needs. Before acting on any general advice or information in this article, you should consider the appropriateness of the general advice or information with regard to your objectives, financial circumstances or needs and you should obtain and consider the relevant Product Disclosure Statement, Terms and Conditions, Financial Services Guide and any other disclosure document. The information or general advice provided in this article reflects the personal views of the interviewee about investment strategies and other subject matters discussed. The views of the interviewee do not necessarily reflect the views of WealthHub Securities or NAB. Subject to any terms implied by law and which cannot be excluded, neither WealthHub Securities nor NAB shall be liable for any errors, omissions, defects or misrepresentations in the information or general advice (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (whether direct or indirect) suffered by persons who use or rely on the general advice or information. If any law prohibits the exclusion of such liability, WealthHub Securities and NAB limit its liability to the re-supply of the information, provided that such limitation is permitted by law and is fair and reasonable. 

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About the Author
Damon Frith , nabtrade

An award winning journalist, Damon Frith, joined NAB this year as its wealth editor, a position he had previously held with Citibank. Prior to that he was a finance journalist, including a stint as the chief business writer for BRW Magazine, and senior reporter for The Australian and Australian Financial Review. A bit of a nomad, he has lived in remote locations like Bunbury in Western Australia to the Southern Highlands in NSW, and many places in-between.