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No longer a niche market: You dont need millions to start investing
More than Just Accountants!
Even with little experience, almost anyone can begin investing, and the good news is, you don’t need much money to get started, says local financial adviser, Chris King from HMA Twomey Patterson.
“Savvy investors are often those who have started with modest amounts, and have built up their savings with a bit of hard work and a disciplined approach. These days, whether you have $1,000 or $1million, there are numerous ways to enter the market,” said Chris King.
According to Chris King, managed funds are often a good starting place for new investors as your money is pooled together with other investors’, so depending on the fund, you may require as little as $1,000 to get started.
“This type of investment is simple as all your money is invested by a team of professionals who research and manage the investments - you do not need to be an expert. Also, you have the opportunity to add small amounts to the fund on a regular basis, continually increasing your portfolio.
This acts like an automatic savings plan and sets you up for good habits if you invest further later down the track,” says Chris King.
With the power of compounding, Chris King says that you may be pleasantly surprised at how a relatively small amount, together with regular contributions can add up over time.
Once you have gained more experience, gearing, or borrowing to invest, can help maximise your returns even further. Chris King says, “When you borrow to invest in a managed fund, the lender matches your initial and ongoing contributions, effectively increasing your portfolio.
This method can produce great results and generally, the interest you pay on the loan is tax deductible”.
However, Chris King warns that gearing is not suitable for all investors and should be approached with care.
“Like any investment, gearing involves a certain level of risk, which should be taken into account. First time investors especially need to be aware of the risks involved. Investing can be easy, but make sure you know what you are getting into, and seek professional advice as well.”
Chris King is an Authorised Representative of Count Financial Limited an Australian Financial Services Licensee (No. 227232) and Australia's largest independently owned network of financial planning accountants and advisers.
The advice provided is general advice only as, in preparing it, we did not take into account your investment objectives, financial situation or particular needs.
Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, objectives and financial circumstances.
For more information:
Count Financial Limited
HMA Twomey Patterson
Phone: 02 6925 8377
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