Investor Journeys—Te Rimene Workman
Te Rimene grew up in Hawke’s Bay and moved to Wellington to study Law and Commerce. Now in his final year at Victoria University of Wellington, Te Rimene is a keen Sharesies investor who’s grown his knowledge and investment portfolio with the help of his mates!
Why did you start investing?
I’ve always wanted to make money and I’ve always wanted to invest, but I’ve never really known where to start. Investing always seemed like this far off thing that only bankers did, or something.
A few of my mates and flatties were in the same boat of wanting to invest but not knowing anything about it—we were just keen to give it a go. One of my friends who’s really into investing was just like, “Hey, this is Sharesies, have a look!”. We jumped on board and started playing around, reading up on how to invest. It’s been really fun learning more about it.
Tell us about your investment portfolio!
My first investment was in the Smartshares NZ Top 50 fund, because it was something familiar—I didn’t want to go for something too risky straight away. I invested in a couple more funds after that. Once NZ companies became available on Sharesies, I started diversifying my investments a little more. There’s more to choose from, and I’m investing more money than I did at the start too. I’ve probably got 10 different investments in my portfolio now.
Because I’m from Hawke’s Bay, I got involved in Napier Port’s initial public offering. I probably wouldn’t have had the confidence to invest in it if I hadn’t already been playing around on Sharesies.
How has investing changed your relationship with money?
Before I started my Sharesies account, I just had my regular bank account. It felt like money just went into the account and then came out of it again. Now when I have extra money, I think ‘Okay, should I spend this or should I invest it and hopefully get a bit of a return on it?’ It’s making me second guess what I’m spending my money on!
It’s been cool learning more and growing the confidence to invest too. I feel like New Zealand is super geared towards property investment, which is a bit out of the range of what I can afford right now. It feels good knowing that even if I can’t buy property right now, I can still invest and do something with my money other than spending it on the weekends or having it sit in a savings account.
What’s it like investing with your mates?
It’s been really fun learning about investing with my mates. We don’t check each others’ portfolios every day or anything, but we’re pretty open about our returns and what we invest in. We chat about what’s happening in the news, how we’re feeling about our investments, how whatever Trump’s doing is going to affect the US markets…just throwing our opinions out there and seeing what other people think! My mate who’s got a bit more experience than the others really gets into the details—he keeps track of things on Yahoo Finance and all that, so he’s teaching us how to navigate that sort of info too.
It’s sort of funny how talking about money doesn’t feel taboo anymore. People seem more confident talking about their investments. Even in my flat, we’re always chatting about Sharesies in the lounge or over dinner, and then whoever’s around at the time just gets pulled into the conversation. Sometimes we’ll have people over and they’ll hear us talking about it and be like “Oh, what’s Sharesies?” By chatting about it, they get a little more interested in giving it a go too. I’ve had a few friends say they’ll pick it up once exams are over!
People often think you need loads of money to invest. What tips would you give to everyday New Zealanders who might not think it’s possible?
Just put a little bit away every week or so, if you can. It doesn’t take a lot of money! I’ve built up the amount in my Sharesies account by putting away $50 here and there—just whatever’s excess to my spending. It’s so easy to deposit a little amount every now and again. Even if you don’t invest it straight away, you’ve at least got the option to buy.
I’ve been using Sharesies as a bit of a savings account as well, which has been useful. When I chuck money in Sharesies, it’s a lot less accessible than having money in my bank account where it’s really easy to just spend it. It also makes me think twice when I want to withdraw the money. Do I actually want to withdraw this money? If I leave it there, do I have the chance to earn more money?
When I start working full-time next year, I’ll probably have more money than I have at the moment. But for now, I’m just enjoying seeing my investments grow. There’s something about owning a piece of a company that’ll hopefully earn a bit of money for me in the future. I’m just keen to see what I can get back.
The people shown in our Investor Journeys are actual Sharesies investors, and their stories are actual experiences they’ve had with us. They’re paid for their time to record their story.
Ok, now for the legal bit
Investing involves risk. You aren’t guaranteed to make money, and you might lose the money you start with. We don’t provide personalised advice or recommendations. Any information we provide is general only and current at the time written. You should consider seeking independent legal, financial, taxation or other advice when considering whether an investment is appropriate for your objectives, financial situation or needs.