Article written by Lisa Dudson – www.moneytv.co.nz
I really want to find out about the share market and how to invest through the share market. Is there any book that you have written about this and is there any other way that I can get more details about this? Please be kind enough to advise me as I am a single mum who is trying to find my way out of the financial situation. Thanks for your email enquiry and congratulations on being so proactive about trying to improve your financial situation. Before you start investing in the sharemarket make sure you have all your financial basics sorted. I regularly get clients coming to see me about improving their financial position through putting together an investment plan, whether that be property or shares or a combination of both. I cannot stress enough though that if you do not have good financial habits, it doesn’t matter how well you do with your investing, it will catch up with you at some point. There are lots of different ways to invest in the sharemarket. Some of the key ways when starting out are to get some recommendations from a sharebroker, do the research yourself and buy through the internet, the NZX (NZ Stock Exchange) has some products which are bundles of shares, and you can use managed funds which are also products of shares. You would need to allow a timeframe of at least 5 years as the stock market can go up and down and probably need a bundle of 5-10 different shares to diversify your risk. You also need to think about how much time you want to spend on your investing. Generally the more time you put in the better the returns. If you want to spend limited time you are probably better off using a managed fund or professional advice. Read more of this post
