Making Babies on the Stock Market
Hey Barefoot ...
New Year’s resolution number one for 2021 — invest in shares.
HELP!
There are so many options and so much conflicting information out there. Superhero, CommSec, Vanguard ... EFT, index fund, AFIC, Raiz ... It is doing my head in. I have read the ins and outs on most websites but still have no idea where to start or what features I really need.
Superhero offers $5 trades, and it seems to be marketed directly to me — a millennial starting out in the share game — but is it too good to be true?
I just want to pay low or no fees (I do listen to you sometimes!) and be able to sit back and watch my money make babies.
I would LOVE a simple, no-fuss, Barefoot-style guide to getting into shares before I’m an old lady regretting not following through on my 30-year-old New Year’s resolution.
Thanks for helping me kill the finance game thus far. In the last five years I have bought a house and paid off a pesky credit card ... now I am ready to take the next step!
Nat
Hi Nat,
The share market is so hot right now.
It’s like TikTok.
In fact, there are a lot of young gurus giving trading tips to millennials on social media.
I may be getting old in the toe, but there’s a lot of stupid stuff happening in the market right now, and a lot of it is being targeted at young, inexperienced traders.
Mark my words: this will not end well.
Yet you are killing it.
You say you want a Barefoot-style guide to investing before you end up a regretful old lady?
Well, here it is:
You’re already through the fourth Barefoot Step (Buy Your Home), and now you’re onto Step 5 (Increase Your Super to 15%).
That is your next step. Do it, and you’ll be investing in the share market, compounding your returns over the (very) long term, and getting a tax deduction to boot.
Tik. Tok.
Scott
Reminder: I first wrote about this years ago and highlighted the low costs. Today there are better deals on offer. How do I know? Because my readers constantly email me about them! So before you do anything, do a quick google.