Back when I first started university! I initially became interested long before I actually started. I definitely wish I had started straight way, but was lucky that by the time I was keen to give it a crack Sharesies came on the scene meaning I could invest whatever I had spare at the end of the week.
Being a student and having the important costs of a $7 bottle of Fat Bird wine, with a $5 corkage fee at the BYO dinner, this was often a whopping $2.80.
But the habit of it is what has got me to where I am today!
Long-term for sure! Mad props to short-term traders, but I don’t have the wits or the stomach for it. Set, forget, ride them waves, and still enjoy life along the way is my goal.
When I first started learning about investments the concept of diversification was pretty drilled in, and importantly so!
Scrolling through the multitudes of different options for investing can definitely be pretty intimidating, but you start to pick up tips and tricks and things to look for. There are a huge number of diversified funds out there which make it easy to invest in a diverse portfolio in one nice hit!
My first introduction to the power of getting on top of your finances was The Barefoot Investor, though I never actually read it — ironically, I couldn’t afford it. But there were so many great articles out there on the relevant principles, so I mashed up my own version which has evolved with me through to today! PocketSmith even has some articles on this, which are excellent.
My interest in investing in particular was ignited by Canna Campell and her passion for creating long-term, sustainable passive income for that financial freedom.
And then it goes without saying that the She’s on The Money podcast and the community they have created continue to be a really great knowledge and inspiration source!
I might sound pretty boring here but nope 🤣
It goes back to the whole ‘set and forget’ — investing for me is about long-term wealth building, and I am happy to let my chosen diverse funds do their thing.
This question can be pretty nuanced! On one hand, there is obviously considering the ethical and sustainable choices of where you are actually putting your money and being conscious of environmental and social repercussions. On the other, you could look at this question as the sustainability of being in this for the long term, so only invest what you know you don’t need in the short term.
I think it is important to find what feels right for you but also to lean into the beauty of investing being fluid — as you grow and your priorities change, so can where * * you choose to contribute your money and how much!
I think it is important to have a clear underpinning understanding of why I am investing. If I know it is for the long term, the ups and downs along the way are a part of the process. I set an amount to invest from each pay cheque; whatever the market is doing doesn’t matter, the same amount goes in each week. Over the long run, I have faith I will get to where I want to be!
🙈 🌱 🙌
Disclaimer: The information provided on this blog about investing is for general informational purposes only and should not be considered as financial advice. PocketSmith are not accountable for any actions or decisions made based on the information presented.