I'm looking to start investing my money, what's the best place to start?
26 June 2021
Question by Arun
Hi, I have just finished my university degree and looking for work. Once I find a job I am looking to start investing my money but I have no idea where to start learning about it. I was wondering if you could point me in the direction of what's the best place to start?
Answered by Boring Money
Congratulations on finishing your university degree. In terms of where to invest money for the future, as ever the starting question is going to be what is the purpose of the investment. A better way of putting this is what is your destination and what are you trying to achieve. Without having a clear idea of what the purpose of the saving is it is hard to be able to give a definitive view on what you ought to be doing. A good starting point may be to consider your income needs and your outgoings and look at the amount of surplus you have and then start to think about your financial objectives both in the short, medium and long term. Once you have an idea of what you would like to try and achieve that is the point in which I think you will be wise to engage the services of a financial adviser and talk about what you have, what your objectives are and they can help you then devise a strategy. My concern at this stage is that you are trying to put a strategy in place without having a sense of direction and this will help you test to see whether or not the strategy you are going to employ is going to meet your needs. Start with the end in mind and work back from there is a sensible mantra in terms of planning.
Good luck and I hope you are successful in your career.