How to invest money?

[livinlife]

People always say invest your money but I don't know how to do it? How do you invest in shares do you have to sign up to something?

I know some people mean it as putting in savings but I mean in terms of into businesses

Buying shares IS investing into businesses. What exactly do you want?

@grumpyhoonmain how do you buy the shares?

A stocks and shares ISA might be the way forwards for you.

@Namechangemcnamechange11 OK thankyou I will look into it ☺️☺️

You either buy shares directly from a company, which is a higher risk option, or invest money into a fund where the fund manager decides which companies to invest it and apportions your money accordingly. Go to hargreaves lansdown’s website - they are a good option for first time investors.

@GrumpyHoonMain Thankyou

Ensure the maximum per year is paid in to pension then seek a financial advisor with a wealth management company.

@mrsperfect12 I don't think I'm old enough to be thinking about my pension yet 😂😭

@MrsPerfect12 but thankyou for the advice ♥️

I don't think I'm old enough to be thinking about my pension yet

You are never too young to be thinking about your pension.( I wish I had realised this 30 years ago!)

@corlan aahh I'm just saying that because I have an odd 40 years still to work and my grandparents who retired saved so much for their pension and then died before they could even spend it.

You lol about how you're just far too young to be thinking about a pension but unless you're 12 years old, the laugh will be on you. I presume you're a grown up?

Try asking again when the markets reopen in January.

@TiffanyTrot I'm 18

@kinsss
Trade market? Sorry I am naive to everything

Follow @ramit on insta, his book is great for first time investors and teaches you the benefits of starting to invest young. It is marketed to a US audience but a lot is the same. It's like a £8.99 book. Good on you for thinking about it now.

@FrazzledCareerWoman thankyou will check it out

The money advice service gives a good general introduction to investments here: www.moneyadviceservice.org.uk/en/articles/top-tips-for-choosing-investments

Get a financial adviser. Ask for recommendations from friends/Facebook

Hi OP. You can make an investment account on various platforms (eg. Vanguard, Aviva, AJ Bell), transfer money to the account then choose which funds or companies to assign that money to. Fees will apply. I only invest in funds, and there is generally an information sheet outlining the strategy, previous performance of the fund and level of risk to help you make your choices.

What people don’t tell you is that your pension contributions from 18-30 are more valuable than the ones from 30-60. I know people who have retired on 300-500k pots by maximising the 18-30 contribution but then pulling down the 30-50 contribution to the minimum.

A low-cost index tracker is the best thing to start with.

Otherwise, charges, costs and fees by managers and advisers will erode your gains.

Professionals with high charges will always attempt to tell you that their cleverness will bring gains that will outweigh the extra costs. This is not true. At the end of any ten-year period, most of them will have done worse than the index. By luck, some of them will have beaten it, but unless you have a time machine, you won't have known at the start of the period who the winners will be.

Unsuccessful funds will be closed or merged or renamed, so at the end of the ten years, only the winners will be left standing. By seeing only the survivors, you will get the false impression that there were not so many losers.

I would look in it an isa and also a pension. Your grandparents may have sadly not got to enjoy retirement but you may live to a ripe old age. Go to the money saving expert website. Remember financial advisors get paid commission they are not charity cases some are linked to specific institutions and some are independent. I haven’t ever used one and started investing when a teenager.

Just remember all stocks can go down a well as up and as pointed out by another poster there are levels of risk. DH lost 20k one morning, his worse loss. They are very much a long term item.