ON THE MONEY SPECIAL
Our “On the Money” inbox is often full of readers wondering what to do with their savings. Frustrated by low-interest rates and tempted by opportunities to make higher returns elsewhere, it’s no wonder people often write or email in to ask about how to get started with investing. This email we received is a typical question on the topic:
Q: I am in a lucky enough position to be able to put £500 of my earnings into investments each month but I have no idea where to start! I know nothing about stocks and shares or what is worth investing in. Do you have any tips?
Anon
Though I’m sure many of you are already investing, this is how a sizable number of readers feel. It’s highly likely many will only have invested via their pension contributions—and some might not even realise that their pensions are invested.
This is obviously a huge question to answer, with so many aspects to cover. But it’s actually very simple to get started on your own with basic stocks and shares investing and build from there if you wish.
HOW DO I START INVESTING?
First up, just make sure that your money wouldn’t be better off clearing expensive debts or building up cash emergency funds. If that’s all looked after, we’re almost good to go. But what is investing? You’re essentially buying something which you hope to sell at a profit. Though that’s not always the case—the value of investments can both go up and down really quickly.
This story is from the November 2021 edition of Reader's Digest UK.
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This story is from the November 2021 edition of Reader's Digest UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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