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What advice do you wish you had when you started investing?
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Imagine yourself in 10 years time commenting on the decision you made now.
The me in my 30s gets a right load of abuse from the me in my 40s - what a complete [EMAIL="tw@t"]!!!!!![/EMAIL]I think I saw you in an ice cream parlour
Drinking milk shakes, cold and long
Smiling and waving and looking so fine0 -
Don't get caught on a spike
DO YOUR OWN RESEARCH
DON'T BE GREEDY, SET AN OUT PRICE AND OUT AT THAT PRICE - don't chase greater gains0 -
.......or a stock market "investment" that can turn £5k into £1.5k.....
Fortune favours the er, well not you, goes the old saying
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
GrowingMyOwn wrote: »Mine would be:
1) Good things happen slowly
2) Investing is not a game of cricket - no need to hit every ball
3) Selling is hard
4) Don't believe the hype.
My advice to newbies would be:
The main thing is to realise that there is risk to your capital. If you are going to buy shares in individual company you should ask yourself if you would buy the whole company. It is also important to remember that when you get it right and make some serious cash that you should not get on a high and become over confident.
It is so important that you keep a significant amount of your money in cash so that you are never forced to sell your shares when they are at a low.
People looking to invest need to really study the markets so that all decisions are informed. Read magazines and watch relevant programs.Money is a wise mans religion0 -
The me in my 30s gets a right load of abuse from the me in my 40s - what a complete !!!!!!
Interesting. While I made a whole load of mistakes in my 20s and 30s, I'm glad I was as bold as I was, and if I could send a message back, it would if anything to be even bolder.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Not disagreeing with you. my mistake was not reaping the benefits of boldness when I could, and structural things like not substantially reducing mortgage which would have evened out cash spent then and cash needed nowgadgetmind wrote: »Interesting. While I made a whole load of mistakes in my 20s and 30s, I'm glad I was as bold as I was, and if I could send a message back, it would if anything to be even bolder.
I think I saw you in an ice cream parlour
Drinking milk shakes, cold and long
Smiling and waving and looking so fine0 -
structural things like not substantially reducing mortgage
That's actually one thing I do regret. When we moved house last in 1994, we could have easily afforded to keep the old house and rent it out. We even started getting agents around to see rents, but finally decided to play it safe, flog it, and got mortgage free.
Of course, then house prices and rentals went crazy.
Ah well.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
.....just think who pays for the big shiny buildings and massive bonuses in the city...that's right the mugs who "invest" in the stock market...0
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that's right the mugs who "invest" in the stock market...
This mug will be retiring early off the back of his stock market investments, and Ms Mug, his daughter, will be having her university fees payed the same way.
Meanwhile, Mr Play-It-Safe has his money in a cash account, where its toes are being gnawed off by the rats of inflation.
I like cash, cash his its purpose, and I always keep hold of a healthy chunk of it, but I also have 50% to 80% of my assets in a varying mix of bonds and equities.
Yes, keep a handle on risk, and avoid fees like the plague, but holding 100% cash is just stupid.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »This mug will be retiring early off the back of his stock market investments, and Ms Mug, his daughter, will be having her university fees payed the same way.
Meanwhile, Mr Play-It-Safe has his money in a cash account, where its toes are being gnawed off by the rats of inflation.
I like cash, cash his its purpose, and I always keep hold of a healthy chunk of it, but I also have 50% to 80% of my assets in a varying mix of bonds and equities.
Yes, keep a handle on risk, and avoid fees like the plague, but holding 100% cash is just stupid.
I agree that whilst interest rates are so woefully low it is not a good idea to hold 100% liquid cash. That said from a historical viewpoint there have been periods when you could open a proper high interest account and have an above inflation return without risking your capital.
My prediction is that the rates have been held too low for too long and when they do finally start to rise the move will be sharp. Mortgage payers have had it too good for too long, bring on the double digit rates.Money is a wise mans religion0
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