00:00:02:18 – 00:00:21:03
Ida
Early on, I learned that if somebody asks you a question, you know, for example, can you do or would you do the job? The answer must be yes, because this person sees something in you which is not visible to you, because otherwise this person wouldn’t ask me. I was always asked to take on jobs, which I was wondering inside.

00:00:21:03 – 00:00:41:02
Ida
Like, why the hell they ask me? Because actually I think I don’t have a qualification. You know all the doubts you have. But what is what is really important? I think that you don’t irritate people who put trust you with your doubts.

00:00:41:04 – 00:01:12:14
Claudia
Hello and welcome back to Shift Happens. My name is Claudia Amala and I am your host. I think today I’m actually in conversation with a person that has the longest CV I’ve ever seen. EDA up. Her halter seems to be and have been on nearly every board on this planet. An avid, trusty, sought after advisor and active board member, EDA is a renowned investment genius, and her invaluable insights and experiences serve many.

00:01:12:16 – 00:01:42:12
Claudia
She’s the most generous connector and a true trailblazer of her own kind. And we met in my living room at this by now famous after party in 2020 for just to read a bit from this colorful curriculum vitae, EDA is chairperson of the Advisory Board of Gate College, the leading hospitality college in Nepal. She is an ambassador of the United Nations University for Peace in Costa Rica.

00:01:42:14 – 00:02:08:00
Claudia
She’s a chairperson of First Light Trust, a grassroots community based charity in the UK which assists veterans. She’s an advisory board member of K k Modi University in India, nurturing career ready professionals and entrepreneurs through experience based learning. And these are just a few of numerous assignments I think her day might actually have 48 hours in her day job.

00:02:08:05 – 00:02:40:21
Claudia
EDA is co-head of Iommi Private Investment Office, a private investment partnership of women principals in the Gulf region. Yet EDA is humble with a quick mind, and she speaks the people’s language. Just wait for her financial advice.

00:02:40:23 – 00:03:08:13
Claudia
Welcome EDA Bohol to to shift happens. Thank you. I’m really excited to meet with you. Here we are both German, but we will do this in English, of course. And I’m so glad that our path is crossed in Switzerland again in my living room at my own party, and where I hardly knew anyone of the guests in the beginning, and then met the best people all around and among them you.

00:03:08:13 – 00:03:11:03
Claudia
So, thank you so much for being here.

00:03:11:05 – 00:03:12:12
Ida
Thank you for having me.

00:03:12:14 – 00:03:43:14
Claudia
So I, I, of course, looked at your pages and pages of CV, and I really have the feeling there is no board and advisory board that has not been blessed. You go up with your power and and knowledge and know really, just everything that you have to give and to share. And, and before we start speaking about your pivotal moment or turning point in life, I’m asking you a few questions.

00:03:43:16 – 00:03:47:11
Claudia
What is your current state of mind?

00:03:47:13 – 00:04:07:17
Ida
Actually, I’m very relaxed, so I’m turning 60 next year and I have the feeling that I can do everything and I don’t need to do anything any longer, so there’s no pressure at all. So I can the go. Yeah. Well, my mind, my network, you know, whatever kind of drives my path in life or way in life.

00:04:07:17 – 00:04:31:08
Ida
So I’m. This is the state of mind of I’m blessed and I, I come at a point where I really hope that this will be another 20 years, because I just I so love my life. I don’t want to I don’t want to go. It’s cut off. So I hope that I stay healthy and, can enjoy this moment or this this kind of state of mind, you know, for as long as possible.

00:04:31:10 – 00:04:35:10
Claudia
And how would you describe your idea of perfect happiness?

00:04:35:12 – 00:04:52:05
Ida
I think that you get up every morning and have a goal. You know, something where you say I want to do this or that certain passion and be it just a walk with the dog, you know, something, something I say I enjoy that. So it must not be kind of the ultimate trouble. So I’m not really a believer in the big things.

00:04:52:05 – 00:05:10:20
Ida
It’s really the small things that you also appreciate the small things. So it could be, for example, today we got, two new trees planted and I actually I look out of my dining room and I was staring at the trees and I, I enjoyed it, I really enjoyed looking at that. And kind of. So and then I try to envision, so how would they look in ten years?

00:05:10:20 – 00:05:24:19
Ida
And then, you know, what effect on the garden, what they have. So yeah, it was today, my moment was really I got up in the morning because I was so looking forward to get the new trees. So and yeah, when I have them. So that was today. My, my moment, my trees. Yeah.

00:05:24:21 – 00:05:30:08
Claudia
That’s a beautiful reminder which living person do you most admire?

00:05:30:10 – 00:05:33:05
Ida
I’m actually the person I am most in my actually there are two.

00:05:33:07 – 00:05:33:15
Claudia

00:05:33:23 – 00:05:54:23
Ida
I think my mother, my mother, my father, it’s gone to the more I understand the history what they went through and the they still have the, resilience to build their life. And with everything the fall out they have to focus on my father and my mother. Both are kind of, poor generation children. My father was, 11.

00:05:54:23 – 00:06:16:15
Ida
My mother was nine when the war ended. And, they had a huge trauma. My father, has a resulting depression from that. So his two younger siblings, die from hunger, I think would just kind of nobody would take lightly. So. But despite him being, you know, having depression all his life, you know, what did they achieve?

00:06:16:15 – 00:06:38:23
Ida
So they actually just getting up and doing something, that, that always had my and my mother actually, because my father was not an easy parent to grow up with. She instilled very early on in me and my brother the understanding why he is not speaking to us. And sometimes for two weeks, you know, when some is depressive, they stop speaking and they go to ignore you.

00:06:38:23 – 00:07:06:16
Ida
They cannot interact with you, which is kind of really bad as a child because you want to hug your dad and he’s like a, you know. Yeah. It’s so that is I think I admire that, I admire that and what, what they both made, you know, but they made all of the cards. They, but dealt to them and also the dignity they both had or not had still have the dignity and the down to earth and, really looking who a person.

00:07:06:16 – 00:07:23:13
Ida
It’s not what a person is. So that was always my father told me early on, you also have to separate between the title of the person. You know, some persons don’t fulfill the kind of shoes of the title. And actually sometimes you can say most of the person don’t. So, yeah. No, that’s that’s all them.

00:07:23:15 – 00:07:28:06
Claudia
Where were they during the war in Berlin. In Berlin. Okay.

00:07:28:06 – 00:07:48:07
Ida
The Berlin. Yeah. So they had the whole bombarding and so everything what can happen in a war. So that is also why I feel very strongly about all the war’s effects on my father. I cannot watch any news, because he’s afraid to see any pictures. What? He sees bomb or he has bombs falling. He can’t have it.

00:07:48:09 – 00:07:53:20
Ida
He gets immediately a kind of. He could just can’t see it. So it’s, Yeah.

00:07:53:21 – 00:08:12:04
Claudia
That’s big. Yeah, yeah. That they, you know, brought you and your brother into the world and and yes. Got up every day despite. Yeah yeah yeah yeah. And we forget that right. I mean, you know, if we are not dealing with anything, it’s we it takes so many things for granted, like the trees around us.

00:08:12:04 – 00:08:19:14
Ida
Yeah. And also we make sometimes, a problem of removal, you know, we, we have sometimes problems which are actually not problems.

00:08:19:16 – 00:08:20:18
Claudia

00:08:20:19 – 00:08:31:12
Ida
They are you know there was a they actually a challenge that you prove, you know what cross your woman from. But they’re not a problem.

00:08:31:14 – 00:08:58:11
Claudia
So maybe that also attributes to your strength and power and resilience. And so in in my intake form I ask about a turning point. And that was so interesting because you said that it’s not really something particularly in your career, for example, but really the span where you grew more and more into yourself. And that, of course, is not one moment, but it takes place over time.

00:08:58:13 – 00:09:06:23
Claudia
What I loved was that you started to feel comfortable in your danger zone. So of course I want to know about the danger zone.

00:09:07:01 – 00:09:33:04
Ida
So I think we all have a comfort zone where we feel kind of, you know, obviously comfortable. And then we have something that we’ve been able to learn. And, for me, the really the point was that doing something I’m totally uncomfortable with and, and not feeling to fail. So, for example, I said, it takes you to, another interview that I said early on, I learned that if somebody asks you a question, you know, for example, what can you do?

00:09:33:04 – 00:09:52:17
Ida
Or would you do the job? The answer must be yes, because this person sees something in you which is not visible for you, because otherwise this person wouldn’t ask me. I was always asked to take on jobs, which I was wondering inside. Like why the hell they ask me? Because actually I think I don’t have the qualification, you know all the doubts you have.

00:09:52:19 – 00:10:16:23
Ida
But what what is really important? I think that you don’t irritate people who put trust in you with your doubts. You know, you can later in the stage when you say, you know, I’m totally out of my abilities, you can go back and say, you know what? I think I’m way above my head. Is there any way that you can help me, or should we kind of, you know, take a step back.

00:10:17:01 – 00:10:35:21
Ida
But I, for example, I’ve never experienced that. I always have seen the challenge. And I always like the, I like the opportunity. I always wanted to prove that the trust people put in me is kind of, justified. And I and sometimes, often they ask me for jobs like, yes, I do it, but can you tell me why have you asked me?

00:10:35:21 – 00:10:54:13
Ida
So that is a totally different conversation you have. Because if you ask people, give me the reason why you ask me and not kind of telling them, oh, I don’t sure. Can I do this? You know, this is this is something where you you will also doubt yourself. So just go ahead. It’s it’s a little bit like if people asked you, would you like to serve?

00:10:54:15 – 00:11:11:16
Ida
My answer would be yes. Would I be good at it? I don’t know because I never tried it. So it’s also for me, it’s always that also the question of the teacher, because sometimes you fail because your teacher is not. I’m not saying the bad teacher, but not the right teacher. And I had this, for example, when it came to my, school career.

00:11:11:16 – 00:11:35:18
Ida
I was until 10th grade. I really I, I sucked in math. I, I didn’t get this together. And in 11th grade, I had a math teacher, and suddenly everything was so logic. It was like this person was talking a language I could understand. And all the other teachers over the years who kind of actually and including my brother, my brother is kind of a mute genius.

00:11:35:18 – 00:11:52:22
Ida
Or maybe he’s a genius, and he always tried to explain to me, especially math, and he couldn’t get it in my head. And then I had this other teacher and suddenly was everything like, oh, that’s an easy one. Oh, that is, that is, you know, what he did, actually, and this is what I realized retrospectively. I’m a visual person.

00:11:52:22 – 00:12:12:05
Ida
You have to give me pictures and examples because my brain logs information into pictures and examples. If you give me kind of information, I just have to hear without a picture, without creating a picture in my mind, it’s just it goes in one ear and leaves the other, you know, without leaving any kind of trace in my brain.

00:12:12:07 – 00:12:25:11
Ida
So, that is sometimes when people fail, it’s not maybe that you are too good at it, maybe the people who teach you or maybe the people who managed you are not the right ones.

00:12:25:13 – 00:12:51:21
Claudia
Interesting. And so you, you have been working for such a long time in the Middle East and I was wondering if when you started working there would you say that that also was maybe a turning point in terms of working and living within a culture that was new or different from what you were used to, or did it not feel like it at all?

00:12:51:21 – 00:12:58:02
Claudia
And especially as a woman and in finance, how did that play out for you?

00:12:58:04 – 00:13:15:04
Ida
It was obviously a totally different culture, but what I like the Saudi, it was a very welcoming, a very gentle culture. I, you know, retrospectively, I cannot tell you how many full parks I made it, you know, and everybody was not like pointing at out because they had lost it very elegantly over. So I stepped on many tools.

00:13:15:04 – 00:13:40:21
Ida
I did many mistakes. I also said sometimes things which are culturally, let me say, not, the Saudi called it in general, the Middle East culture is very gentle, very welcoming. And they never, you know, come from the perspective that you act out of maliciousness. They allow really kind of mistakes because they know that, for example, me as a German, that they really understood, you know, this culture is new for me.

00:13:40:21 – 00:14:07:23
Ida
And, and they helped me to understand and also the pride, how they present the culture and the hospitality in that region, especially in Saudi, is unsurpassed. You know, I traveled a lot, but the hospitality is like, it’s really something. So, it is a culture which makes it easy to explore. And because, you know, you, you are not afraid to make mistakes because, you know, I was guided, I was advice, and you learn a lot.

00:14:08:05 – 00:14:29:21
Ida
What I learned there is that you can talk about everything, but you have really to make a very good, assessment. What is the right time and what is the right place, and what is the combination of people? You adjust something, there’s nothing. You can talk about it, but there’s a certain kind of, let me say, societal behavior, which you have really to respect.

00:14:29:21 – 00:14:47:06
Ida
And I like that a lot. This I actually took, from there over here, my life. So I developed much more patience that sometimes, you know, sometimes you sit at a dinner with friends and somebody says something and you really kind of have it. And you said, oh, no, I need to say something. No, but, you know, then you want to set up the whole atmosphere of the dinner.

00:14:47:06 – 00:15:07:14
Ida
So I, we learned, you know, to shut up in this moment. I don’t forget about it, but then find the right time to address it and say, you know what? This statement you made, you know, about woman or the statement you made about something which was kind of disruptive? This left this impression with me, but I would like to address it with you.

00:15:07:16 – 00:15:30:23
Ida
Yeah. It’s it’s I like the, the politeness and the, the respect for other people. That is quite amazing. And also what I really like is and I’ve never seen as anybody the genuine appreciation of humanity I was in, in a very, very fancy restaurant. And there were a group of handicapped kids with their, caretakers coming on, having lunch.

00:15:31:01 – 00:15:51:20
Ida
And it was like even what normal kids make a mess. But these kids, because maybe of their special need situation, they, made even more mess. But, you know, the so nobody kind of frowned, frowned upon them. So everybody was very understanding, helpful and everybody, it was just they were there and they were in this restaurant and in this fancy restaurant.

00:15:51:20 – 00:16:02:21
Ida
And the waiters were kind of it was very natural. So it’s I have never seen this anywhere. And I liked it. And for me, that was really just this love of humans.

00:16:02:23 – 00:16:04:02
Claudia

00:16:04:04 – 00:16:11:16
Ida
That and the respect and the dignity that I really liked a lot. Yeah, yeah. Not like a, like, lot.

00:16:11:17 – 00:16:48:21
Claudia
And, so you’ve been working with women, a partnership of women and managing and advising them on finances, investment and so on, which also is fascinating. Dating, of course, I find I mean, we all know how much capital women hold and all over, but that this is an entirely women run business in the Middle East. So, how has that shaped you and your work and your understanding of women and finances and, you know, supporting female founded businesses and so on?

00:16:48:23 – 00:17:19:17
Ida
And for me, it was always the main reason that I took the job was actually that it was woman. And, you know, I see a lot that, a lot of wealth is technically owned by women, but they don’t deploy the power this money. They delegate the management to whoever, because sometimes it’s disinterest and sometimes it’s also this feeling that it’s complicated to manage finances because, you know, sometimes the the finance lingo is kind of, difficult to understand.

00:17:19:19 – 00:17:42:06
Ida
So for me, it was really asking and questions until you understand it. So don’t do anything you don’t understand and especially ask always for the absolute numbers. And then people come to say, oh, you know, if we, invest this, I don’t know, 10 million in the fund. It’s, it’s very low. Management fee, just 0.5%, you know, 0.5% from 10 million is a lot.

00:17:42:08 – 00:18:03:00
Ida
So actually, to make the absolute number and the relative number in the average number of spring, there’s always a perspective. And then people tell you an average number that is not a number, which is what I’m telling you. And people tell you in relative number you need to have the absolute number, because the absolute number gives you really a feeling, you know, it’s 500,000, which I pay for somebody to invest my 10 million.

00:18:03:02 – 00:18:26:11
Ida
Why would you pay somebody 500,000? And then is the next question for 500,000 you can actually hire, you know, depending on the on the market rate in the country, you can hire 3 to 4 people to manage the money, or even if you hire one person for 500,000. So and there’s always this the relativity of investment. Then I think when you start really with simple things like how much money do I have?

00:18:26:11 – 00:18:48:22
Ida
How much does this money cost me in managing that, and is it worth the costs? And how much does this money bring? You know, I’m always amazed that people who, you know, look at the banks, they have the biggest real estate around the world, so they actually just manage money. So that just gives you a feeling that maybe their fees are quite, let me say, healthy.

00:18:49:00 – 00:19:05:23
Ida
So that is that is something when it comes to managing money. And then the other thing is also to really push back when people tell you, you know, I do this for you, you know, a lot of a lot of women kind of delegate the management of the money to their husbands. If you see this in, in situations of divorce that they have no clue.

00:19:06:01 – 00:19:28:22
Ida
What is the family wealth versus the family? Well, you know, it’s kind of, it’s it’s they they often lose out in court when it comes to a split of the assets because, you know, some assets are just lost or, you know, not visible. So, I think it’s early on it’s important. And then the other thing is also, I think women as investors have another attitude.

00:19:28:22 – 00:19:49:12
Ida
They invest differently. They are much more, not carried away by stories and projections. You know, they they really ask the hard questions. It’s kind of for me is all the question. Cash on cash, whatever you give me as a projection, I. The only number I want is cash on cash. And when, you know, I give you X amount of money, how much cash do I get back on top of my money?

00:19:49:12 – 00:20:15:12
Ida
And then and all the other kind of IRR or whatever are is kind of it’s available I want cash on cash and I want an absolute number. You get an absolute number of money for me. I want the absolute number over the time. So that is the difference. Yeah. And then if you just assume that there’s 50% of all the world wealth is owned by woman, and just imagine that this woman kind of exercises the power this money holds.

00:20:15:14 – 00:20:18:09
Ida
Don’t you think there would be a power shift somewhere?

00:20:18:11 – 00:20:20:07
Claudia
Yeah, hopefully.

00:20:20:09 – 00:20:25:16
Ida
Yeah. So, yeah. Exercise the power of your money. Yeah. At least ask my question.

00:20:25:18 – 00:20:26:11
Claudia

00:20:26:13 – 00:20:30:08
Ida
But overpay. Yeah.

00:20:30:10 – 00:20:54:17
Claudia
Yeah. It’s so like I spoke to a woman at a venture capital, this woman and she said that 1.8% only of investments go towards women funded, female funded businesses. I just don’t understand and grab why that is. And hopefully it’s going to change. Yeah. And I’m not you know, that’s not my world anyway. But I just.

00:20:54:17 – 00:20:57:01
Claudia
Why what’s the reason. Yeah.

00:20:57:02 – 00:21:19:20
Ida
So I think it’s a multi-layered reason. So I think one reason is that men feel comfortable, more comfortable to invest in men because, you know, that is there is a way you need as a woman investor. You need to kind of sell your business, not just the business, but, you know, sell it also to the investor. And it might be easier if the investor is a is maybe a woman for you as a woman.

00:21:20:01 – 00:21:37:01
Ida
And the other thing is that men come and they are totally self-assured and they tell you, no, I will turn the moon in the other direction. They give you 1000 numbers. That is the woman always come and you have this little self-doubt because the woman who are waiting until it’s perfect. Perfect, perfect.

00:21:37:03 – 00:21:38:06
Claudia
And then it might be too late.

00:21:38:06 – 00:21:54:20
Ida
Yeah. And it’s kind of also they, they give the self-doubt sometimes in the because investors are shy people, you know, we are afraid to lose money. We are, we are kind of. Yeah. We are very fearful. So if you get a feeling like, you know, does she really believe in it. There is I think there are multiple layers.

00:21:54:20 – 00:22:09:19
Ida
And I don’t want to kind of say that a woman that is men because I also have pitches for men where they lose out because they are not really convincing. But yeah, it’s it’s you have to talk the language of the people you are pitching. It’s kind of it’s.

00:22:09:21 – 00:22:10:16
Claudia
Take them with you.

00:22:10:17 – 00:22:31:00
Ida
Of course. Then the the soft factors also apply. It’s kind of, you know, it’s if you just see a group of men in the park and how they hang out and how they talk, whatever, and they feel comfortable and look at the group of women in a park and then just send one woman over to the men. It gets uncomfortable for everybody involved.

00:22:31:04 – 00:22:51:20
Ida
So then this woman to say, this picture goes over to the bank group. If she manages to keep the men in their comfort zone comfortable, then actually they say, hey buddy, join us or female buddy join us. So, it’s all about comfort zone. You have to have people in the comfort zone that they make a positive decision.

00:22:51:22 – 00:23:07:21
Ida
It’s kind of, you know, the people. There’s the saying that no is easily giving and a yes is very hard earned. But yes, you have to work. So you have to think, you know, what is this? What triggers the other person? What are the pain point of the other person versus the person comfort zone role? Is the person stress.

00:23:07:21 – 00:23:30:20
Ida
Where does the investor get the feeling? You know, I have ten companies I could choose from. So obviously they choose from the company where they are most comfortable with and the person they are most comfortable with. It’s, I think, normal. I would every one of us would do the same. You wouldn’t invest in somebody, but you kind of you wouldn’t invest in a one way to say, oh my God, I feel uncomfortable.

00:23:30:20 – 00:23:34:08
Ida
But I do it because she’s a woman. No you wouldn’t, nobody would.

00:23:34:08 – 00:23:56:13
Claudia
Probably not. Now, I want to go back to the beginning where you said that you actually feel great and you turn 60 next year and the world is open and you can do what you choose. And so I’m wondering like what’s next for you. What are projects that you are doing or will be doing that you’re really excited about.

00:23:56:17 – 00:23:58:23
Claudia
And why?

00:23:59:00 – 00:24:21:12
Ida
So I’m, I have a big passion for really sustainable projects. So mean. I think sustainability in every project is the most important thing. It’s not making a valuation and the next stock and then buy a just for I whatever that is not for me a good investment. And I’m working with the person who actually is living this sustainable investment.

00:24:21:12 – 00:24:45:06
Ida
She has building up a holding where she invests in six verticals. And the thesis behind it is that, you know, if you invest in sustainability businesses, that’s not just that you can just only food or just equity or it’s what you eat, it’s what you have around you. It’s it’s everything. So there are the six verticals and obviously then it’s media because how you educate people about what you are doing.

00:24:45:06 – 00:25:24:06
Ida
And then it’s also kind of education because you need to educate people and also to educate yourself. So I really look forward to that. And that will be hopefully something where I can spend, maybe my last gig in business, lots of my main gig. And then it’s virtually the network I built up. So there’s a lot of initiatives companies for, I was asked to join the advisory board and the first you can give you input, but the second motivation is that you meet really amazing people on this board and, you know, your network grows kind of without you doing something and, and not just geographically, but also about, certain sectors, you

00:25:24:07 – 00:25:54:15
Ida
know, how you just suddenly people in their network, you can just call and ask and say, can you briefly explain to me this and that? So, that is the network character is actually one very important thing. And then, it’s just for me, people and I love to connect people. It’s, it’s so this network, this human magic, when then you put the right people together in a room, that is somehow we like that is that is, so I have I have a goal for me that I’m minimum connect three, four people per week in a very meaningful way.

00:25:54:15 – 00:26:14:02
Ida
And then I just a great idea. Wait for them telling me then this was a good connection. Yeah. Yeah. It’s not just meet the people it’s it’s connect with people and really think about for example, if we have a conversation and I think of somebody else and obviously I have your phone number and I think of this person, I just connect you randomly.

00:26:14:02 – 00:26:27:13
Ida
And at the beginning I try to explain, like AVP and this are the five reasons why I connected you. I have given up on that idea, but I might be enjoying that is kind of that is the only information you get for me. And then you figure it out.

00:26:27:16 – 00:26:31:17
Claudia
I can, I can I can attest to that. Yes.

00:26:31:19 – 00:26:33:09
Ida
You got oh, you.

00:26:33:09 – 00:27:06:16
Claudia
Got so busy. Oh. So do you meet this person? Bye. I’m gone again. And off she goes. I’m leaving the chat. I love it. No, it’s great because it’s very generous to. It’s so it’s really a meaningful way of bringing people together. Even though it’s so quick. But it’s for everyone, you know, to use this opportunity. And because one knows you, one knows that whatever it will be, at least it will be a such an interesting conversation with that person.

00:27:06:16 – 00:27:23:17
Claudia
Yeah. And, no, I think that’s very admirable. So you travel a lot and what is a way you energize yourself? I mean, I’m sure, you know, jet lag and all these things, like how do you maintain a certain level of energy?

00:27:23:19 – 00:27:45:06
Ida
So I read a lot and I read a lot. Like, you know, I like criminal stories. So I’m a big fan of Mary Higgins Clark. So I think I we read her books. I think some of them I can speak by heart, not the whole book, but some pages for sure. So reading and then it’s literally, sometimes I’m just sitting and I do kind of, people gazing.

00:27:45:06 – 00:28:09:05
Ida
So it’s, I’m observing people. I have the tea in the lobby, and then I just watch what’s unfolding in the lobby, and then I try to make up a story. For example, going to a couple comes in the lobby, then I, you know, I try to get out from there. Body language. So how is the relationship? It’s it’s kind of a training for me as well because I’m a big fan of, of body language to kind of to train my gut feeling.

00:28:09:06 – 00:28:29:05
Ida
And this is but it’s a it’s a very relaxing way. And then, you know, it’s just really having a tea and, yeah, watching people or reading. And then when I’m at home, obviously that is, what really kind of energizes me is to have long walks with my dog. I like my dog. I like, you know, I have, conversation with my husband or wife walk.

00:28:29:06 – 00:28:51:01
Ida
So it’s nothing kind of fancy, fancy. It’s, for me, the next session is always to do with tea. Kind of. You know, if I would be on social media, I would maybe get five different kind of tips for D. It’s for me, kind of a hot beverage in the form of tea is something which really kind of brings me to its, and I actually when I travel, I have this kind of mug.

00:28:51:03 – 00:29:16:09
Ida
I have always a mug in my hand, but I also, I’m drinking also tea all the time, and I’m traveling. It’s kind of, yeah, it relaxes me. And then interaction with people. And sometimes what I also do is kind of, reading notes. So I, I’ve started early on to make, food, I call it, I have a file on my computer, which is called food for thought, where I randomly write down sentences, clothes, sometimes snippets from the newspaper.

00:29:16:09 – 00:29:36:04
Ida
You know, something that’s catches my attention. Definitions. And sometimes I just, you know, I browse through my. And meanwhile, it’s over 180 pages, I think. So there’s a lot of browsing time and I just browse randomly and I obviously, again get a kick from the things I can order down. So that is still very relaxing that I do sometimes when I’m on the plane.

00:29:36:04 – 00:29:49:12
Ida
Kind of a browse my food for thought about document. I think the only a document of my career ever would crash, which I would really kind of be very sad about, would be my food for thought to document that is that is that’s really relevant for me. So I make.

00:29:49:12 – 00:30:04:02
Claudia
Notes. Another good idea. And now coming to the end, do you have like a quick super smart investment hack for the normal, normal mind and normal pot money wallet?

00:30:04:03 – 00:30:26:16
Ida
The best investment hack is get an oversight what you have and what you spend and think about your spending habits. Because you only can invest what is So plus because if you, for example, you, you have 5,000 USD and then you, you know, make the effort not on your spendings because maybe you are too, wasteful with your money.

00:30:26:18 – 00:30:46:13
Ida
I have this, for example, you know, if you go everyday to Starbucks and have a coffee that is I think me like was $6, you know, just make the mathematics. You have everyday coffee. There are 30 days per month, you know. Not that I tell you, don’t enjoy your coffee because it might be something where you say, hey, I, I need this because this is my my time out sitting at Starbucks, have a $6 coffee.

00:30:46:15 – 00:31:06:17
Ida
But it’s you have to have an overview of what you have, and then you can see how much can you save. And then at one point having a meaningful kind of money to invest. Because sometimes you also have kind of situations where you need money. You know, your you do live on a small budget, and for example, your washing machine breaks down and you can’t buy it from your washing machine.

00:31:06:17 – 00:31:30:20
Ida
So actually you should plan and say, you know, every month I put $30 in a whatever in an account, which is mind, you know, special situation thing or I know I have a washing machine and I know, this works maybe for ten years. The next washing machine cost me maybe $1,000. So let’s say for that, you know, just, you know, think through where you have this investment.

00:31:30:20 – 00:31:51:01
Ida
It applies for a car. You maybe maybe the car you have is, is, too expensive for you? You maybe you should, consider walking in public transportation for a time until you can maybe afford a car, which kind of brings you to the repair shop every year, every spent, and $2,000 for a car, which, you know, drains you financially.

00:31:51:03 – 00:32:15:07
Ida
So I think the the principle always apply. You need to know what is your principle in capital and when are you eating in your principle. And it can be situations in life where you have to eat your principle. You know you might fall unexpectedly pregnant. Obviously this is a situation where you eat in your nest egg for maybe the first 1 to 3 years where you can’t work because you have a baby, but then you have this nest egg, and then but after that, you know, then you have to plan.

00:32:15:07 – 00:32:40:21
Ida
Okay, I have maybe childcare, know I can rebuild my nest egg. I can go back to 100%, you know, book, but have really the numbers straight and don’t beat yourself. It’s kind of a don’t plan with something you don’t have, like, oh, you know, I might inherit from my parents, you know, if your parents. And so God will live to get 100, you know, then technically, you are 75 until you inherit.

00:32:40:21 – 00:32:58:14
Ida
That might be a little bit too late to enjoy life. So, you know, you might need it when your kids are small. So. And have a conversation also with your parents because some families there are not much conversation about money. You go to your parents and say, you know what, I’m not sure what you know my inheritance is, but, you know, this is my planning at the moment.

00:32:58:14 – 00:33:17:09
Ida
I would need more support because if you have a young family, I might be in a situation where I’m sick. So what would be a buffer in our common family? Well, so what would be a buffer if your parents tell you, no, no, you don’t get anything. You phone it off until, you know, travel, whatever. But then you know, you know your situation.

00:33:17:09 – 00:33:20:23
Ida
You know, you don’t plan for that. Yeah. So it’s it’s,

00:33:21:01 – 00:33:21:13
Claudia
Smart.

00:33:21:17 – 00:33:44:22
Ida
Yeah. And in order, don’t make a book and make for two months. Not every expensive. But stop paying cash. If you pay cash, you know how fast your purse empties. Because you you’re at the cash teller. So often if you start paying cash, credit cards, kind of, you know, you, you lose a little bit the overview of what’s going on, you know, and then the end of the month, you’re like, oh, wow, this is a surprise.

00:33:45:03 – 00:33:55:10
Ida
Then ever you have the feeling, you open your credit card to kind of statement and you say, oh, wow, this is a surprise. You don’t have a handle on your finances. Definitely not.

00:33:55:12 – 00:33:57:03
Claudia
Amen. Okay.

00:33:57:05 – 00:33:57:23
Ida
Okay.

00:33:58:01 – 00:34:08:10
Claudia
That’s all right. Well, Ida, I thank you so much for your time and, for your insights. This was really lovely. I wish you a wonderful weekend.

00:34:08:13 – 00:34:09:04
Ida
Thank you.

00:34:09:06 – 00:34:14:13
Claudia
You too. And, yeah, that was meaningful and insightful. So I thank you.

00:34:14:15 – 00:34:17:20
Ida
Thank you. Also have a good weekend. Thank you so much.

00:34:17:22 – 00:34:31:17
Claudia
Bye bye. Bye bye.

00:34:31:19 – 00:34:48:09
Claudia
So now you know, keeping money, doubling money. And the rest of it is actually no rocket science. I so loved this down to earth approach.

00:34:48:11 – 00:35:14:00
Claudia
Thank you for listening to Shift Happens. Please follow and subscribe to this podcast. It’s an easy hit for you with a huge impact. For me, it helps me grow even further and bring you more conversations with women from around the globe. I am so happy to announce that the iconic Danish shirt brand Brett Soucek supports season four of Shift Happens.

00:35:14:02 – 00:35:51:23
Claudia
I love these shirts crafted in Europe, dedicated to the luxury of dressing with ease and delivering exceptional quality and enduring styles. Use Code Shift happens at checkout for 20% off your first purchase. Valid on full price items only. Shift Happens has been created and is hosted by me. Claudia Mahler editing Andy Boroson social media Magda Reckendrees I hope you felt connected and heard by listening to Shift happens.