10 March 2021
general
Investing in stocks and shares is still a smart thing to do and can help you build a financially secure future. Though it may seem daunting, investing doesn’t always mean spending tons of money and making radical changes. In fact, many financial advice professionals are recommending to start simpler in 2021 by taking a minimalist approach.
To make investing in stocks and shares feel less like a burden, consider the following:
Set a Restriction - Restricting yourself to a set number of holdings can be helpful to keep you from going overboard, especially if you are a beginner. Though the number will vary from person to person, setting a limit will help keep you from feeling overwhelmed. In addition, too many stocks could make your big impact wins feel less exciting.
Start Simply - Consider buying individual stocks, though it does seem intimidating. Buying individual stocks doesn’t cost much and can help you understand how the investing world works with real-life experience.
Ditch the Apps - Investing-related apps make it so you can easily check your portfolio but also contributes to the unhealthy habit of checking it all the time. Habitually checking your portfolio on these apps can create unnecessary anxiety. Consider setting a limit or schedule for checking on your investments instead.
Automate Savings - Many of us can constantly monitor the market, observing every change and nuance to keep ourselves on top. Automated savings can help remove the guesswork and intense observation required while investing. Consider setting up an automatic bank transfer in a fixed amount, sending it to a Stock and Shares ISA every month. This eliminates the need to do it manually and can set up a nice “nest egg” for yourself.
Be Mindful of Your News Updates - In the midst of a global pandemic, staying up-to-date with all the news channels has become second-nature to us all. However, reducing some of your news sources and being selective about the ones you check regularly can help. Choose one or two reputable sources to get your financial market information.
Consider Hiring a Professional - A financial planning expert can give you the best investment advice based on the current market trends. At J Edward Sellars, our team offers informative financial and investment advice that can guide you in the right direction, creating a financial firm future for yourself. Our team has experience working with ISA investments and offers managed investment services that can make your life easier!
For more information about our investment advice for stocks and shares, contact us today! We proudly provide investment services to clients throughout the Clevedon, Somerset and Bristol, England areas.
