Smart Thinking On Investing – July 23
Smart Thinking On Investing – July 23
Janine Rogan sets out to persuade you to get started investing in your 20s, and not to fear the stock market due to recent events because it recovers as quickly as it collapses! And finally, Caroline Beaton shares how she overcame her financial concerns and started to boost her earnings potential. Great advice for any millennial.
Steps to Selecting Stocks
- Stick to what you know when choosing companies, and go for ones with sustainable long-term demand, and high returns on capital
- Check out how the company’s management treat their shareholders, and what factors the company may be at risk to beyond its control
- Ask yourself whether it will help diversify your portfolio, why others may be selling it, and if the return outweighs the risk
Roll On Financial Independence
- Once you begin a financially stable job, wean yourself out of the borrowing and paying money back to your parents cycle; their support has got you this far, now get ahead on your own
- It’s great that they want to help, but they’ll respect you more for standing on your own financial feet
- See it as a positive, liberating step towards a brighter financially independent future for yourself
The Socially Responsible Investing Generation
- 65% of 25-34-year-olds care about the social and economic values of the companies they invest in as much as the returns they’re likely to receive
- Interested in getting involved? Start by learning the fundamentals of investing to empower you to make informed decisions, and look for an advisor whose values align with your own
- There are also great resources available to carry out your own simple, yet, socially responsible research too, to make sure you choose the right fund for your ethical investment
Don’t Put Off Investing Any Longer
- Getting into good budgeting habits can take time, so even if you feel you don’t have the money to begin investing
- Put a small monthly contribution aside; 10-20% of your salary is a good figure to start with
- Make the most of vehicles like tax-free savings accounts (TFSAS), services with low management fees, and be diversified in your portfolio choices
Change Your Money Ways
- Be realistic about your expenditures when creating a budget; both the necessary and unnecessary ones
- Keep an eye on your accounts and where your income and expenses go; ignorance is not bliss when it comes to money
- Investing is no longer a financially confusing world for the elite few; there are thousands of ways to get started and avenues to choose from, so get involved and get investing!
Do you want to start investing on your own, but don’t know how?
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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.