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b'Diversification is a technique used to lower the risk for an investment portfolio by spreading the specific risks of investing across many holdings.\\xa0\\nWe often practice diversification in other areas of our life without even realizing it. Think friends in different groups, external industry connections, reading widely, not just eating potato chips, having new travel experiences etc. It\\u2019s the idea that we shouldn\\u2019t rely on any one single "thing" and instead incorporate different things that are not directly linked together.\\nFidelity defines diversification in investing as "the practice of spreading your investments around so that your exposure to any one type of asset is limited. This practice is designed to help reduce the volatility of your portfolio over time."\\nIn today\'s episode, Kate & Owen discuss how they think about diversification in their own lives and what it looks like in our finances, investing, careers and life.\\n***\\nAccess the show notes for The Australian Finance Podcast: www.raskmedia.com.au/podcasts/australian-finance-podcast\\n\\U0001f30f Ready-made ETF portfolios? Rask Core has you covered!\\nTake one of our fantastic money & investing courses (think ETFs, shares, property and FIRE) on Rask Education.\\n\\U0001f64b\\U0001f3fd\\u200d\\u2640\\ufe0f ASK A QUESTION: https://bit.ly/3QtiY00\\nIf you want to thank us for putting this show together, please give The Australian Finance Podcast a 5-star review on Apple Podcasts or Spotify - it\\u2019s a 5-second task that really helps support the show (and puts a big smile on our faces).\\nPearler, the broker for long-term investors. Sign-up to Pearler using the code \\u201cRASK\\u201d for $15 of Pearler Credit: bit.ly/Pearler\\nWe\'re proudly supported by Global X ETFs. Learn more about the growing range of leading ETFs on the Global X website:\\xa0https://bit.ly/gx-funds\\nBoost your investment potential with FundLater. With InvestSMART\'s Fundlater, you can start a $10,000 investment portfolio with only $4,000 upfront. Find out how: rask.com.au/inv-fundlater\\nInvesting Made Simple. Thanks to InvestSMART\'s ready-made ETF portfolios, you can start investing now in a portfolio managed by experts. Not only that, you can invest confidently, knowing your investment fees are capped. Learn more: rask.com.au/inv-pma\\nDISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs before acting on it. If you\\u2019re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.\\nFull individual disclosures for each guest are available via the show notes page. Owen, Kate and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.\\nAccess The Rask Group\'s Financial Services Guide (FSG): https://www.rask.com.au/fsg\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'