It is never too early to start investing. The illusion is that you need lots of money or need to be good with numbers and this couldn’t be further from the truth. Getting started is easy, its all about taking that first step. There are many different investment strategies depending on where you find yourself in life. Many people under the age of 30 choose to get started with the view to growing their investment enough to get a deposit for a new house. The truth is, whatever your aim, you can be successful in investing in your future, you just need to get going.
Getting the basics right
It is always important to walk before you can run and investing is no different. Learning the basics is vital to your ultimate success. You can find free online courses to learn about investing all over the internet that start from a really basic level to help you succeed.
You need something to aim for
Most people under 30 tend to have high outgoings and relatively low earnings, so it is important to budget correctly in order to put some cash aside for your investment. Firstly, you should start by deciding whether you are saving for a rainy day, or for something bigger like a deposit on a house. Stocks and Share ISAs are a good option for many as you often get higher returns than just a standard Cash ISA. Companies like True Potential Investor will open your account for you for as little as £50 and you can top it up whenever you can and with as little as £1.
Saving for retirement
When you are under 30 saving for a pension is far down many peoples priority list, however the earlier you start the better. Retirement may seem like many years away, but if you invest in your retirement now by putting a small amount away each month then this won’t break the bank and will ensure you have a comfortable returement when that time comes.
Investing even further
Most investors choose to start with a Stocks and Shares ISA or Personal Pension which will run alongside their existing investment portfolio. However this isn’t always the best option and can yield much less than other options out there on the market. If you’re unsure which option is best for you then you should consult a professional investment fund management company who will point you in the right direction.
Whatever you decide you should start investing today for a more confortable future.