I am a beginner investor. Looking at robo advisors or poems atm but open to other suggestions.
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Zac
02 Mar 2021
Noob at Idiots Invest
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You also need to consider your current age as it also determine how long before you hit your retirement age. It does not make sense to invest in long term products like equities if you have less than 5 years into retirement and you are a newbie.
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Chris
27 Feb 2021
Owner and Writer at Tortoisemoney.com
One method I would recommend for wealth accumulation is Passive investing, also known as [Index Inve...
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Warren Buffett recommends index investing for beginners who know absolutely nothing because it's diversified and passive. You can do this by buying ETFs that track specific indices. Chris has written quite a bit on index investing - do check it out.
You can also invest via digital advisors aka robo-advisors; they're also diversified and passive - great for beginners who have little experience. They will help you buy and select some of these ETFs if you have no idea where to start.
These are both good places to start, although you will have to read up and understand why you're choosing them.
Once you start investing, channel your free time and energy towards reading, so that you better understand investment and form steady convictions concerning it. Starting broad gives you general investment principles/frameworks, narrowing down helps you get into the details of a specific investment.
In the meantime, continue passively investing while you build your knowledge. When you're ready, you can look to add further elements to your portfolio.
I am a beginner myself, and I designed this IG page to document what I learnt but also to serve as a guide for other beginners like me. It's pitched at a level suitable for those starting from absolute ground zero.โโโ