Want to invest but don’t know how?

These simple steps may be for you...

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1. Firstly, get out of debt!

Use spare cash to pay off high interest credit cards and loans.

Paying off debts with the highest interest first will reduce long term interest payments.

The quicker you pay of your debt, the sooner you can invest!

2. Create a safety net or emergency fund!

Any good investor will tell you that this is vitally important. Before investing, build up a savings account that will cover any outgoings for between 3-6 months..

Just incase the worst happens.

3. Make sure you’re paying into a tax-saving pension!

By contributing to a pension, your employer and the government contribute too.. making FREE money for when you retire.

Remember that the state pension doesn’t even cover the minimum living costs of a single retired person!

4. Invest in an easy, cheap market fund through an ISA!

Your ISA allowance each tax year is £20,000, paying no tax on returns, make sure you use it!

Index funds are a great way for beginners to invest. They are cheap, simple and effective!

If you’re interested in learning more about index funds and how they can benefit you then Index Fund Investing 101 by @thewealthdad is for you! https://gumroad.com/a/394204275/uadOl

5. Distribute investments between ‘asset classes’

Have money in different assets such as stocks, shares, property, bonds, cash etc.

This will help reduce volatility within your portfolio! If one market drops then the others will pick up the slack.

6. Finally, leave your investments alone!

Once you’re happy with your investments then there’s no need to keep messing with them.

Make regular, consistent contributions and keep on doing that for years. Over time, your investment will generally grow!