Merryn Talks Money How to Start Your Investment Journey
11 snips
Jan 14, 2025 Holly Mackay, Founder and CEO of Boring Money, shares her expertise on starting your investment journey. She discusses how to choose the right investment platform and explains what an investment platform actually is. The conversation dives into selecting robo-advisors for a simpler approach, understanding costs, and reassessing investment risk amidst market volatility. Holly also highlights key factors like user experience and diversification when exploring various platforms. It's a must-listen for anyone looking to make informed investment choices!
AI Snips
Chapters
Transcript
Episode notes
Starting Your Investment Journey
- First, determine your investment confidence and desired choice level.
- Consider a robo-advisor for less involvement, or a traditional platform for more control.
Understanding Investment Platforms
- Investment platforms act as both a department store and storage for investments.
- They facilitate buying, holding, and managing investments, streamlining the process for DIY investors.
Using Robo-Advisors
- Robo-advisors offer automated, ready-made investment solutions.
- Set up direct debits for regular contributions and check in every 6-12 months.