Here in the UK we’re in the aftermath of the referendum vote to leave the EU, and stock markets are very volatile. Headlines are screaming about billions wiped off the stock market. The pound is suffering compared with other currencies. With all these concerns, isn’t it better to keep your money where it is safe, say under the mattress or in a high-interest savings account? Why invest at all? Today I’m going to answer that question…
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Why invest?
It seems to be assumed that investing is THE way to become wealthy. There are far more column inches dedicated to choosing the right funds or tax wrappers than there are listing the best high-interest accounts. Probably because there are no really high-interest accounts these days.
But why invest at all? As usual, I’m going to look at what you need to KNOW first, followed by what you need to DO, assuming you decide that you should consider investing some of your heard-earned cash.
In this session, you'll discover:
- Why the current unprecedented times are heralding a new normal
- The difference between saving and investing, and why it matters
- The relationship between risk and reward
- Why you must have a why (for investing)
- The importance of educating yourself
- Some books, podcasts and websites you can use to do just that
- How much you should invest
Resources mentioned in this week's show
Book: Money, Master the Game, by Tony Robbins
Book: The Automatic Millionaire by David Bach
Podcast: Money To The Masses, with Damien Fahy
Website: FinancialMentor.com
Free email course – Learn How To Invest
And of course, there is a full transcript available by clicking the big blue button below:
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