A guide to investing for young professionals
EQ has published a 10-step guide to help you get on track with your investments.
While you’re building your career it’s worth taking a moment to think about your financial future and how to build a portfolio of investments for the long term. If you want to ensure you can meet your financial goals and enjoy a decent standard of living in later life, it’s crucial to put the right financial foundations in place now.
To lay the groundwork for this you may have started to pay off credit cards or other debts, or perhaps put some money aside for a house deposit. You’ve probably heard you should have an emergency fund and contribute to an ISA, and so on.
But as a busy professional it’s unlikely that you have hours to spend sifting through fund factsheets or researching hot stocks in pursuit of the next Tesla or Amazon. Successfully mastering a portfolio of investments takes time.
There’s no sugar-coating the fact that investing comes with risk. But investments are also one of the only ways to keep up with inflation – which lops an average 2.5% off the value of your savings each year.
Fortunately, being ‘time poor’ shouldn’t prevent you from growing your hard earned money.
Topics covered in our latest 10-step guide include:
- Putting in place a safety net.
- Contributing to a pension.
- The power of compound returns.
- Why you shouldn’t try to time the market.
- Alternative investments like Venture Capital Trusts and crowd bonds.