On this week’s episode of Property Insights, Mark is joined by Ravi Sharma.
Ravi is a buyer’s agent & YouTuber who created his channel “Personal Finance with Ravi Sharma” about Australia’s property market, cryptocurrency and the economy in an effort to make financial concepts more engaging for young individuals.
Ravi’s buyer’s agency, SearchProperty, was recently awarded a finalist place for REB’s Buyer’s Agency of The Year (2023) as well as the Rising Star Finalist Award (2023).
Key Takeaways:
- Mark Bouris and Ravi Sharma discuss Ravi’s approach to personal finance for a younger demographic. Ravi explains how he noticed that finance education for young people is often dry and unappealing which led him to create content that presents basic financial concepts, focusing on Australian real estate and personal finance, in an entertaining manner.
- Ravi shares how he realised that many young people, including himself and his friends, were turned away from learning about finance due to ineffective teaching or negative experiences with family members or teachers. His YouTube channel aims to fill the gap by presenting financial information in an engaging and relatable way, drawing inspiration from approaches in the US and UK markets.
- Ravi’s work primarily attracts 90% male viewers aged 22 to 32 although younger viewers (16 to 18) are becoming more interested, probably due to his Tik Tok presence.
- The discussion touches on how Ravi’s personal experiences influenced his approach, including witnessing financial misconduct by advisors and his father’s difficulties with superannuation during the Global Financial Crisis.
- Ravi suggests a longer approach, endorsing the concept of “rentvesting,” where individuals rent where they want to live whilst investing in more affordable areas, and emphasising the flexibility and financial advantages of this approach.
- Mark and Ravi explore the changing perceptions of investment and retirement, suggesting a need to redefine retirement goals, work-life balance, and challenging the traditional concept of investing or retiring at a specific age.
