Everything You Need To Know

• What is investing? Different from saving – involves risk and higher returns.
• Important to have goals – be clear if you can.
• Should have Emergency Fund first.
• Business and Bricks – shares and property, anything else is a sideshow.
• Platforms – Admin system, multiple accounts under one roof.
• Accounts – Two accounts needed – Pension and ISA (inc. LISA).
• What’s inside that builds wealth – funds, shares, bonds and property.
• Risk tolerance – ability and willingness to endure market volatility. Volatility – how much an investment fluctuates.

What you need is a pension and an ISA/LISA, with a good index tacker fund inside them. Pay in regularly, increase what you put in until it hurts, don’t look at it more than once a year.

Everything You Need To Do

• Join your workplace pension and optimise it.
• Open a Stocks & Shares ISA and a LISA (Cash or Stocks & Shares depending on timescale).
• LISA if you haven’t yet bought your first house or can leave accessing the money until age 60.
• Choose a platform, consider costs and usability.
• Decide on risk profile. More bonds generally means lower volatility and lower returns.
• Choose a fund. Global – not just UK, ideally, and not just US either. Passive – words like ‘tracker’ or ‘passive’, avoid ‘managed’.
• Get used to NOT checking. Not easy when a new investor.

We’re going to spin out the listener questions into a separate Q&A show which we’ll drop into the feed every 2-3 weeks or so. These will be in addition to the main feed, most likely, but they’re easier for us to produce because they require less writing! Send your questions to hello@meaningfulmoney.tv Subject line: Podcast Question

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