“…just kidding,” she says.
One of TikTok’s first users, Tash Etschmann has successfully found her niche in personal finance content.
Four years later, she has accumulated a net worth of more than $500,000. Now she wants to teach her fellow young Australians how to get there.
“My parents always talked openly about money when I was younger,” Eichmann said. “As I got older, I realized that wasn’t the case with a lot of my friends.”
Eichmann worked Several functionsincluding retail at H&M, in hospitality at the AFL stadium, and as a swimming coach and visual distributor. She was a A residential support worker when she bought her apartment four years ago). She is currently self-employed, and has been for more than a year.
She’s always followed a few financial creators in the US, but hasn’t seen many people in Australia doing it. “There is definitely a lack of financial education, which is why I did what I did,” she said.
She is the co-author of the new book How not to work forever, It is a manual, guide and entry level “dictionary” of sorts. Think of it as money management for dummies. It’s a collaboration between Etschmann and Ana Kresina, co-host of one of Australia’s leading podcasts Get Rich Slow Club.
The book demystifies what seems like the daunting world of investing, and breaks it down into digestible concepts. Cash, bonds, stocks, interest rates, commodities – the book has it all. Cryptocurrencies are also mentioned, but only as an “alternative asset.”
“Cryptocurrencies are more risky,” Eichmann said. “For me, it’s something you should buy in smaller quantities. It’s also not a regulated financial product. However, cryptocurrencies seem more exciting than an index fund, for example, so I can see why some people might be distracted.”
Cryptocurrencies are attractive to young Australians
Eichmann is not wrong. A large number of young Australians are interested in cryptocurrencies. It is a market that never sleeps and is very volatile, which is probably why people are attracted to it.
Binance Australia’s monthly Market Insights report for June reveals that trading volumes for altcoins — any cryptocurrency other than Bitcoin — increased in value by 3.75 times over the last two quarters, though no overall dollar figures were provided.
Bitcoin and Ethereum remain the most traded cryptocurrencies by Australian users. Interestingly, this is mostly followed by “meme coins” – cryptocurrencies based on viral internet memes that have little to no use in real life. Dogecoin, Pepe Coin, and Shiba Inu Coin are among the top 10 popular cryptocurrencies in Australia.
Does Etschmann own cryptocurrencies? Yes, she says, but it only makes up “five percent of my investment portfolio.” Saw. “I don’t talk about it a lot because I want my audience to focus on the basic steps first, like saving for an emergency fund.”
Etschmann’s portfolio as of June 2024 is as follows:
religion:
- Mortgage: $208,000
- Hicks: $17,000
Origins:
- Crypto: $23,900
- Stocks and super: $272,000
- Apartment: $400,000
- Savings: $93,000
- Car: $8,000
If she could go back in time and give herself financial advice when she was younger, Eichmann joked that she would tell herself to “go buy bitcoin.”
Artificial Intelligence (AI) is currently all the hype for investors around the world. So, does one of TikTok’s top financial creators own any tech stocks?
“No. It takes a lot of research to stay on top of individual companies. I don’t enjoy sitting there analyzing individual stocks, so I only buy ETFs. I think my journey with money has been very easy because I started at a very young age. [Hitting financial goals] It always felt completely achievable.
Australian ‘influencers’ on TikTok
In 2022, following a warning from the Australian Securities and Investments Commission (ASIC), Australian “influencers” – a group of influential finance figures – had to obtain financial advice licenses in order to continue sharing their content.
In response, Eichmann and other popular local influencers such as Queenie Tan (@investwithqueeine), Aleks Nikolic (@brokegirlwealth) Requesting permission from financial consulting companies. They are now able to provide general financial advice on social media.
Although influencers like Etschmann have become authorized representatives of financial advisory firms, unauthorized creators offering financial advice remain popular on TikTok. Per ASIC Information sheet Regarding “Discussing Financial Products and Services Online,” issued in March 2022, unlicensed influencers could face up to five years in prison and fines of up to $1 million if they discuss financial products and services online.
What’s next for Eichmann? She’s now certified to provide general financial counseling*, owns an apartment, has a net worth of $570,000, has written a book, and continues to grow her TikTok following.
How can it not work forever Provides an elegant Venn diagram on finding the sweet spot in life. So, what does achievement mean to Eichmann? At this point in her life, she says she doesn’t feel guilty about spending money, and spends a lot of time pursuing her hobbies.
“I like to travel, I read a lot of books, and I tried living in Melbourne and Sydney. I spent a long time working a lot. I’m still trying to figure it out.”
*Note: Natasha Etschmann’s Tash Invests is an authorized representative of Guideway Financial Services Pty Ltd, subject to company rules. Financial Services Guide. Tash Invests are paid a fee by Guideway where Tash refers you to Guideway to receive: financial advice, education and training services and/or mortgage broking services.