Whether you’re a relatively seasoned investor, or absolutely brand-spanking-new to the wonderful world of wealth growth and investment, there’s little doubt about the fact that you’re bound to have a fair few questions from time to time. In this blog, we’re going to be answering a whole load of questions as we go on, but today we’ll be starting from the very beginning. We’re looking at why and when the best time to start your investing journey might just be right now.
Not to blow our own trumpets, but we like to think that what we don’t know about investing probably isn’t worth knowing. That being said, we’re always open to exploring the cutting edge of the industry, and passing on the best tips, tricks, and nuggets of golden wisdom to our clients. Check out these questions and answers below, and see for yourself whether investing today is the best move for all your tomorrows.
Is There a Tried-And-Tested Method For Knowing Whether or Not Investing Right Now is Right For Me?
Life isn’t full of foolproof methods for anything, but we reckon it’s pretty easy to know whether or not you’re ready to set out on your investment journey towards future wealth, stability, and financial prosperity. It’s best to start off with something called a financial plan. This is a simple, one-page document which will help you see where you’re at financially, and whether or not the time is right to begin investing and watching the wealth you have start to grow larger.
Firstly, you’ll need to write down how much debt you’re currently in. Have a few small debts here and there? Get busy paying them off before you start investing properly. If they’re high-interest debts, then work a little harder and make the sacrifices needed in order to pay them off quickly. Secondly, make a note of your ‘emergency funds’ – it’s always safest to have somewhere between three and six month’s worth of money squirreled away in a secure savings account before you get into investing. These are your first steps towards investment success, and once you’re fully aware of your financial situation, you can start checking out what Wealthface can do for you.
Can I Start Investing if I Have Some Low-Interest Debts (eg. Student Debts)?
We always believe that it’s better to start investing than putting it off for too long, as you never know the opportunities you might be missing in the meantime. If your debts are high interest (certainly anything over 5%), you’re best off doing all you can to pay them off as quickly as possible and starting out with a clean sheet. Student debts are so commonplace, and generally so low in interest, that they shouldn’t really make much difference to your decision to start investing. If you feel more comfortable doing so, start your investments relatively small, and use Wealthface’s calculator to express an interest in low-risk investments. By taking the key baby steps, by the time you’re in a better financial situation you’ll be an old hand at it, and fully informed of the ins and outs of the industry. Everyone’s a winner!
How Much Money Do I Need in Order to Start Investing Meaningfully?
We get it – not all of us have a spare $30,000 lying around, waiting to be invested in our passive funds and portfolios. However, Wealthface prides itself on our flexibility and versatility, and we want to make investing open and accessible to anybody interested in saving their money or watching their wealth grow. Because we believe that all portfolios should be treated with equal care and attention, you really don’t need that much cash in order to start seeing great results with our winning services.
I’ve Been Hearing Rumours of an Upcoming Financial Crisis. Is It Madness To Start Investing Now?
The markets are like the seasons or the tides – they constantly go up and down, and change is the only constant in the world of finance. However, they doesn’t mean you should be put off from investing. Just because one part of the world might be experiencing a dip, or about to have a temporary wobble, it doesn’t mean everybody is going to be affected equally. What’s more, it’s important to remember that overall, the curve of the financial industry is an upwards one, and by taking a long-term view, the vast majority of investors do very well indeed. Wealthface has taken the time to backtest all of our systems to deal with every eventuality, and while we can’t guarantee what the markets are going to do in the future, we’ve got the tools in place to help you build your wealth and overcome fluctuations as and when they arrive.
Is the World Too Unstable Right Now for Investing?
It’s true that the world seems to be going crazy from time to time – you’ve only got to flick on the news channels to hear more than enough doom-mongering to put you off pretty much any plans for the future. It’s really important to see the bigger picture though; shocks, unexpected twists and turns, and even financial depressions lead to opportunities in the markets for those savvy enough to take hold of them. By putting your wealth in the hands of market experts and state-of-the-art investment technology, and then – crucially – riding out any fluctuations, time has shown that the benefits and rewards are greater and more lasting. Think about it – the past 50 years has seen plenty of wars, credit crunches, and global financial crises… and yet the market is arguably in a better place today than it’s ever been. Wouldn’t you like a slice of that success?
Wouldn’t It Be Better To Stuff All My Cash In My Mattress?
We’ve all heard stories of rich eccentrics who have hidden their cash and wealth in the walls of their houses, in their mattresses, or under their floorboards… but really, doing so puts your wealth in a dangerous situation. Inflation only ever really travels in one direction, and even with inflation running at miniscule increments, this means that your cash will lose its value (and gather plenty of dust and mouse droppings) while it hides in the darkness. We believe in long-term visions, riding out fluctuations, and tuning out the background noise of doom-mongers and naysayers. We’ve seen our investment systems work time and time again, and as long as you meet our basic criteria, we’re confident today’s as good as any other to get your journey towards investment success started.