No wonder we get overwhelmed and often can't work out where to start.
How do we sift through the 'noise' and stay focused?
My solution to the problem of investment noise was to find people in the industry I could trust to learn from. Easier said than done I hear you say. Yes, there are a lot of sharks out there who want to take your money.
Here are a few hints and tips on what to look for when you are learning to invest:
- Explore not for profit organisations and consider becoming a member.
- Consider spending money on books instead of on expensive (multi thousand dollar) courses. It is better to spend $100 - $200 on books initially so that you can be exposed to a variety of approaches and ideas rather than spend a lot of money on one course. Once you have decided on your preferred investing approach (property, shares, technical, fundamental) then you can always research your preference and the courses in that area if you need to. Here is a link to my list of favorite books
- Steer clear of 'too good to be true' promises - they usually are.
- Use the ASX website share investing resources as a learning tool - they have a great share investing tutorial that is well worth doing.
- Use your common sense - investing isn't rocket science, despite the financial services industry using jargon to try and convince us that it is. Keep things simple and use your common sense to filter out the rubbish.
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