My Barefoot investing
I'd just like to write this down as part of my baby step journey into this share investing market. Hopefully someone else as clueless as me would find this relatable. 😂
Disclaimer: I'm not by any chance very financial savvy or have a very good knowledge in share market/the bull or bear.
It all started around end of March-early April in 2020. My partner started to read a book called "the barefoot investor" by Scott Pape after we went book shopping one day feeling like we gotta read something other than just watching netflix on our free time.
P.s. I got myself a "this is going to hurt" by Adam Kay and it was a good book where I can relate to some of his experiences at work.
1- The first thing we did was to open up an ING bank account as suggested by BFI.
Reason:
- 1.8% interest in saving maximiser account as compared to 0.05% in my other bank
- Common sense time: 1.8% vs 0.05% which generates more interest? I only wish I knew it earlier...Also, no point chasing bank interest rate but at least choose a good one is what I thought.
2 - The 2nd thing my partner did was to look into what broker app to use to buy share
Conclusion:
- we went with selfwealth with only $9.50 per trade (I've included my referral link there)
- so if you use a referral link to sign up, you will get 5 free trades for 30 days period.
- also, we weren't fuss with the transaction process but some may find it troublesome moving money to this and that account before starting to trade. But hey, share market can always wait.
- my suggestion would be, have some share in your mind of what you're going to buy, transfer them money and use the free trade after signing up to place order.
3 - Continuation of my point above - do some research before buying
- internet is a wonderful place , there're just so many channels i.e. facebook groups, reddit and whirlpool forums, youtube channels and so on, you name it.
- I find Tracey Edwards's youtube channel is good in explaining the franking credits stuff.
- Vanguard is the reddit favourite.
4 - Formulate your own portfolio
I aim to make my portfolio as longterm investment along with my super.
I'm 30 this year I could probably work for another 20-30 years if health permits.
I hope to retire with no worries.
Some fancy abbreviations 😂😂
FIRE = financially independent, retire early
FOMO = fear of missing out
TINA = there is no alternative
The internet has so many articles about the recent share market performance and uncertainties.
I guess out there , there are just a group of people like me and my partner, where bank interest is kinda low-ish, i have no property to invest (not feasible for me at this stage) so we were like "why not", and grabbed this opportunity and got ourselves some share.
We shall see how the future brings :)
Gosh I still write like a teenager 😂
Disclaimer: I'm not by any chance very financial savvy or have a very good knowledge in share market/the bull or bear.
It all started around end of March-early April in 2020. My partner started to read a book called "the barefoot investor" by Scott Pape after we went book shopping one day feeling like we gotta read something other than just watching netflix on our free time.
P.s. I got myself a "this is going to hurt" by Adam Kay and it was a good book where I can relate to some of his experiences at work.
1- The first thing we did was to open up an ING bank account as suggested by BFI.
Reason:
- 1.8% interest in saving maximiser account as compared to 0.05% in my other bank
- Common sense time: 1.8% vs 0.05% which generates more interest? I only wish I knew it earlier...Also, no point chasing bank interest rate but at least choose a good one is what I thought.
2 - The 2nd thing my partner did was to look into what broker app to use to buy share
Conclusion:
- we went with selfwealth with only $9.50 per trade (I've included my referral link there)
- so if you use a referral link to sign up, you will get 5 free trades for 30 days period.
- also, we weren't fuss with the transaction process but some may find it troublesome moving money to this and that account before starting to trade. But hey, share market can always wait.
- my suggestion would be, have some share in your mind of what you're going to buy, transfer them money and use the free trade after signing up to place order.
3 - Continuation of my point above - do some research before buying
- internet is a wonderful place , there're just so many channels i.e. facebook groups, reddit and whirlpool forums, youtube channels and so on, you name it.
- I find Tracey Edwards's youtube channel is good in explaining the franking credits stuff.
- Vanguard is the reddit favourite.
4 - Formulate your own portfolio
I aim to make my portfolio as longterm investment along with my super.
I'm 30 this year I could probably work for another 20-30 years if health permits.
I hope to retire with no worries.
Some fancy abbreviations 😂😂
FIRE = financially independent, retire early
FOMO = fear of missing out
TINA = there is no alternative
The internet has so many articles about the recent share market performance and uncertainties.
I guess out there , there are just a group of people like me and my partner, where bank interest is kinda low-ish, i have no property to invest (not feasible for me at this stage) so we were like "why not", and grabbed this opportunity and got ourselves some share.
We shall see how the future brings :)
Gosh I still write like a teenager 😂
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