How to start investing and grow your wealth: This is Money podcast special
Over the long-term investing in the stock market has proven to be the best way to beat inflation and grow your wealth.
But how do you know when the time is right to start? What are the things to consider when working out what investments might suit you? And do you need to wait until you are wealthy before you become an investor?
In this first of two special This is Money podcasts, Simon Lambert is joined by Rob Morgan, of Charles Stanley Direct, to help listeners through the investing maze and give them an easy to understand guide to getting started investing
The most recent edition of the longstanding Barclays Equity Gilt report showed that investing in the UK stock market has delivered an average annual above inflation return of 5.3 per cent over the past 50 years, whereas cash has returned 1 per cent.
But investing is not without its risks.
You must be prepared to potentially lose money and may need to ride out market crashes, as we have seen in the coronavirus crisis.
However, another thing that the crisis has thrown up is more people saving money, as they cut back on spending. A This is Money poll showed 71 per cent of readers said that lockdown had left them with more spare money to save.
So, if you have a rainy day pot of cash stashed away and want to start investing the money you have beyond that, where do you get started?
Alternatively, if you are already an investor and want to improve your portfolio, or watch out for the traps that eat into your wealth, what can you do?
On this podcast, Simon and Rob look at those questions and more.
Plus, download the second episode of the two-part series in a week’s time when they discuss how to use your investments to improve the world and make a profit – as the pair explore the world of socially responsible investing.
THIS IS MONEY PODCAST
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- It could be you! What would you spend a lottery win on?
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- How does Labour plan to raise taxes and spend?
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- Will investors benefit from Woodford being axed and what next?
- Does buying a property at auction really get you a good deal?
- Crunch time for Brexit, but should you protect or try to profit?
- How much do you need to save into a pension?
- Is a tough property market the best time to buy a home?
- Should investors and buy-to-letters pay more tax on profits?
- Savings rate cuts, buy-to-let vs right to buy and a bit of Brexit
- Do those born in the 80s really face a state pension age of 75?
- Can consumer power help the planet? Look after your back yard
- Is there a recession looming and what next for interest rates?
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- Is IR35 a tax trap for the self-employed or making people play fair?
- What Boris as Prime Minister means for your money
- Who’s afraid of a no-deal Brexit? The potential impact
- Is it time to cut inheritance tax or hike it?
- What can investors learn from the Woodford fiasco?
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- Will there be a mis-selling scandal over final salary pension advice?
- Upsize, downsize: Is swapping your home a good idea?
- What went wrong for Neil Woodford and his fund?
- The incorrect forecasts leaving state pensions in a muddle
- Does the mortgage price war spell trouble in the future?
- Would being richer make you happy? Inequality in the UK
- Would you build your own home? The plan to make it easier
- Would you pay more tax to make sure you get care in old age?
- Is it possible to help the planet, save cash and make money?
- As TSB commits to refund all fraud, will others follow?
- How London Capital & Finance blew up and hit savers
- Are you one of the millions in line for a pay rise?
- How to sort your Isa or pension before it’s too late
- What will power our homes in the future if not gas?
- Can Britain afford to pay MORE tax?
- Why the cash Isa is finally bouncing back
- What would YOU do if you won the Premium Bonds?
- Would you challenge a will? Inheritance disputes are on the rise
- Are we primed for a Brexit bounce – or a slowdown?
- How to start investing or become a smarter investor
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