Hello investing legends,
Do you want to take the first step in your investing journey but feel like something is holding you back?
There’s a million reasons you could come up with not to invest, and we hear them all the time. There’s plenty of perfectly reasonable ones, like prioritising a different goal, paying off debt or you’re out of work for a while.
But…there are also many fantastic reasons to invest, which I outlined in my newsletter earlier this month. In a nutshell, I invest to build wealth to give myself more choices and control in the future.
Research done by the World Economic Forum found that there were three big reasons stopping people across the world from investing.
- Reason 1: They were worried about losing money in the market.
- Reason 2: They didn’t know how to invest or found investing too confusing.
- Reason 3: They didn’t believe they have enough money to invest.
💡 Do any of these reasons resonate with you?
In this newsletter, I will tackle each of these three reasons and give you the tools and resources to start investing (or get a friend onboard).
Interestingly, non-investors surveyed indicated that they would be more likely to invest if:
- They had more trust in the financial system
- They had more opportunities to learn about investing
- It was faster and easier to get started
- They had access to an investment platform that they trusted
- A financial adviser recommended it
🫣 You’re worried about losing money
Yes, people can lose money when they invest, but it’s often for reasons within their control (which thankfully means you can avoid some of them). This includes things like investing in shares your friend told you about without doing any research, not diversifying your portfolio or selling when the market falls.
The important thing to keep in mind is that investing is a long-term commitment, not something we do for a day, a month or a year. Listen to our Get Rich Slow episode on The Australian Finance Podcast, or take our 100% FREE Get Rich Slow course to learn more about our investment philosophy.
I also want you to remember that even the experts make mistakes. Don’t let one misstep stop you from getting started. Start with small amounts of money while you’re learning.
🤷🏽♀️ You’re not sure how to start investing
I get it. There are so many resources, options and opinions out there that things can feel really overwhelming.
Let’s make things easier.
Listen to our Investing Month series on The Australian Finance Podcast, access our investing checklist and take our (very popular, I might add) 100% FREE ETF Beginners course.
These tools give you the foundations to get started and invest your first $5.
💸 You don’t think you’ve got enough to invest
Thankfully, technology has completely changed what investing looks like. With some great micro-investing apps like Raiz, Pearler Micro*, Sharesies and CommSec Pocket, you can start investing with just $5 (that’s a cup of coffee in Melbourne)!
✅ If you put the time into learning the basics, you’ll have the knowledge and tools to take the first step on your investing journey and join 10 million other Australians who invest outside of their home and super (ASX Australian Investor Study 2023).
If you like discounts, don’t forget to preorder your copy of my upcoming book, Buying Happiness, on Booktopia** or Amazon today.
Cheers to our financial futures,
* Please note: Pearler are a flat fee sponsor on the Australian Finance Podcast. However, we are not paid to mention them in this newsletter.
** Please note: I will receive a small payment if you use my Booktopia affiliate link to place your preorder.
