You don’t need a huge amount of $ to start investing (anything from $500 – say most experts). To get you started, most planning includes self assessment:
- How much $ do you have any to invest?
- If none, can you get $ from other sources (eg investing with others, joint ventures – but beware, naturally there are associated risks)?
- What regular contributions can you afford (if required)?
- Do you need budgeting and financial management help?
You’ll find in Book #1 BiG Book of Wealth Creation Strategies and Gurus blueprints, articles and checklists that set out and expand on these including:
Money Smart (ASIC) Develop an investing plan and Investing between the flags (and lots of other useful investing and $ stuff)
BT Financial Group How to get started investing
The Australian Banker’s Association Making an investment plan
Money Morning How to invest
Free online courses: Future Learn Managing my investments
In BiG’s Directory, Analysts and Commentators and in the Gurus in #Books 1-4 we list hundreds of resources and industry players who give away FREE reports, tools etc – so check some out, you’ll surely find one that suits you!
Problem – you are unlikely to spend any or much time on planning!
Call me cynical but: instant gratification, 24/7 news cycles, overwhelm and life itself; will all conspire against you and you won’t use any or many of the above resources!
Chances are even at this early Challenge Day 2, you’ll “do it later” – GUNNA!
You’re not alone, there’s heaps of research, data, psychological studies and more that show procrastination is common when it comes to investing. Don’t let whatever reason for procrastination you have deter you (Having trouble starting your journey towards something? Dr Cross can help with his “Life is a Zig Zag” video in our Post; Do you get overwhelmed? Our investing Guide or this Post may help). But, in case you do put off your plan…
Work on your Bucket List instead!
If all the planning is too much for you, you’ve already done it, or you’re happy to plunge into investing using gut feel or intuition! – something much more fun and that people do surprisingly rarely is make your bucket list. In 10 Things you must do before you die! How to get started on your Bucket List we’ve got some ideas that might help.
Mark Bouris’s Bucket List for Responsible Adults is a lot more practical – but less fun!
Day 2 Your Task/s:
- Do as much reading and planning that you can cope with!
I look forward to seeing you at Day 3 – “The Lazy Investor’s Way to Set Goals”
I’d be delighted if you find my work helpful and share it with friends and family.
All the very best with your investing.
the Bucket List Investing Chick