How to start out in the share market
It’s never too early to get started in the share market, and thanks to the internet it has never been easier.
Whilst it may be easy to start trading shares online, it’s not quite so easy to start making money from it unless you know what you’re doing or have an expert to help you.
What is the share market?
The Australian Securities Exchange (ASX) is a marketplace which allows people to buy and sell shares in a range of different companies. The ASX is based in Sydney.
As a general rule most people aim to buy shares at a certain price and then sell them for a higher price. This is one of the main ways of profiting from the share market, but it is not the only way.
Which shares should I buy?
Many Australians will start off with shares in the big banks as well as the major miners such as BHP and Rio Tinto, but there are hundreds of other large, medium and small companies available.
You could follow the path of simply buying into well known companies, but if you are serious about investing in shares the best option is to seek the advice of a professional.
A stock broker is one source of information for share recommendations, and some financial planners are also qualified to provide advice on the buying and selling of direct shares.
How do I get started?
If you are going down the do-it-yourself path you can simply setup a share trading account with your bank or financial institution.
There is plenty of information out there on which shares may be worth buying, with popular sources including business news websites and by paying to subscribe to email newsletters.
The do-it-yourself approach is not for everyone through, and it is very easy to lose a large percentage of your money if you get things wrong.
If you are considering investing in the share market, the best option may be to speak with your financial advisor first.
Your advisor will not only be able to explain to you how the share market works and how to make money from it, but will also be able to determine whether or not it’s the right strategy for you.
The share market can be a financially rewarding place to invest, but you need to ensure that you are armed with all of the relevant information and knowledge before you jump in.
Contact Us Today
Call: 1300 88 18 18