There was a time when I was so scared of losing money that I flat out refused to think about investing. More than once I said that I would never, ever invest in the stock market. Some people are so confident, they see investing as a guaranteed win and make reckless decisions. I was so fearful that I saw it as a guaranteed loss. Until the penny dropped. If this sounds like you, you might not be ready to invest yet. But please don’t write off investing entirely. Just like olives, I think you can acquire a taste for investing. Perhaps my penny drop moment will help you take the next step.
The next step is research, potentially more difficult to overcome than fear of the stock market. I knew I had to invest and make my money work for me but for a long time research threw up more questions than answers. There were about 18 months between the time when I knew I had to invest and the time I felt I understood enough to make the leap. To be honest, a key part of this understading was recognising that I was still learning, and it was better to tread cautiously with a small pot of money than not tread at all.
Finally the leap into investing, possibly the best financial decision I’ve ever made. I have made some small mistakes, one of which has been financially profitable. On the whole, I feel much more confident about my future.
If you are at stages one or two, I hope I’ll be able to help. Coming soon is my guide to investing for complete beginners. It tries to explain the basics that you start to take for granted once you understand them. A bit like how you take for granted that the reason ice melts because of heat, or plants need light to photosynthesise. You have learned new and unfamiliar concepts before and you can now.
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Where are you on your investing journey?