Ok. So, here’s one for you all.
There are a lot of very generally knowledgeable members on here.
If you had a few hundred grand & you wanted to buy some shares (in Australia on the ASX) where would you start?
My first advice to anyone would be to speak to a financial planner. Make sure it’s the best use of your money and determine how much of it you should consider investing. Also consider the tax implications.
If you don’t do this with a financial adviser, at least set out a number of criteria for yourself regarding how much you’re willing to invest and how long you’re prepared to keep it invested.
If you want slow and steady returns, there are investment funds you can buy into that offer a reasonable return over different time periods.
Otherwise, buy yourself a subscription to business insider and the AFR then start doing a lot of research into markets.
These are my two cents from someone who doesn’t actively invest in the share market.
Thanks for your reply. I guess, from your first sentence, my question is how to find a financial planner that knows what they are doing? I guess recommendations from friends/relatives is a starting point.
That’s one I can’t help you with.
Friends / Family is a starting point. Maybe just some google searching and reading reviews.
My dad has always said - you should have 1/3 of your wealth in super, 1/3 in property, and 1/3 in shares… he retired at 57, turned 77 this year, still has plenty for him and mums needs inc a deposit each for a retirement home if needed…
I agree with finding a financial advisor. They’ll look at your whole situation and can point you in the best direction.
Sadly also no recommendations here… I’d avoid a bank based advisor…
This is a good resource for some general information.
1 Like
Thanks for that. I’ll have a look.