How to get started investing
If you’re really keen to invest
, chances are you’ve been reading a lot on the topic.
But there’s a big difference between becoming familiar with the investment realm and putting your money into the stock market.
You can’t let your money work for you if you don’t invest
If you want to invest, but haven’t as you’re scared to take the first step, you need to overcome this.
It’s easy to come up with a list of reasons why you shouldn’t invest. But if you don’t invest, you’re not giving your money the chance to work for you on the stock market.
If you don’t invest, you’ll have to put up with the measly return you get from the bank on your cash, Dr Steve Sjuggerud in Daily Wealth
How much money should you invest?
Once you decide to invest, it pays to be prudent. So before investing, you need to decide how much money you’re willing to lose.
It’s easy to think about how much money you could potentially make on the stock market. But you have no control over this.
So the best way to go about your investing adventure is to think about the variables you can control.
You can do this by using stop losses or trailing stop losses
on all investments you make. By using stop losses, you can limit your potential losses.
Don’t just look to invest in South African stocks
When it comes to investing in stocks, the world is your oyster. You don’t have to limit yourself to South African-listed stocks.
By investing in offshore-listed stocks, you can find some great opportunities.
If the prospect of picking individual stocks fills you with dread, you can invest in unit trusts of exchange traded funds (ETFs) instead. These are available on South African and international stocks.
Not only does investing in unit trusts and ETFs remove the task of individual stock picking, but it’s easy to build a diversified portfolio.
So there you have it. How to invest.
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