Education HUB article
4 minute read
4 minute read
Start investing in four easy steps
We understand that investing can be overwhelming sometimes. Fortunately, we’re here to help get you started so you can reach your financial goals sooner.
Want to get started on your investing journey but unsure what to consider? Here is a quick step by step guide before you start.
Want to get started on your investing journey but unsure what to consider? Here is a quick step by step guide before you start.
1. Set your goals
First things first, it’s crucial to work out what you want to achieve. Is it to buy a new car? Are you saving for a house deposit? Perhaps you’re investing on behalf of your child or saving for a holiday? Or are you looking to secure a financial future as you head to retirement?
Once you establish what your objectives are, you can start to understand what it will take to reach them.
2. Know your timeframe
Once you’ve set your goals, next you can start thinking about when you’d like to achieve them by. The timeframe of your goals will determine how long you invest your money for and when you may need access to it.
Some timeframes can be short. For example, saving for a new car or a holiday are likely to be short-term investments. Meanwhile, some goals require longer timeframes, such as a house deposit.
It’s important to remember that your goals are unique to you. There is no one-size-fits-all approach when it comes to investing your money. So, take the time to understand what timeframe will suit your goals. Remember that investing can be a journey and setting the right time frame is key.
3. Understand your risk profile
With your goals and a timeframe now established, getting to know your risk profile is the next step.
Your risk profile determines how comfortable you are taking risks with your investments. There are a lot of different ways to invest your money. And every investment option has a certain level of risk attached to it.
Consider if you can tolerate more bumps along the way in markets, for the possibility of a higher growth. If your risk tolerance is lower you will need to look at other investments that possibly return less over time but have lower volatility.
4. Managing your investment
Finally, it’s vital to know how you’ll manage your investment. This determines how much control you have over your investment and helps you choose what to invest in.
There are a range of options to consider. And your knowledge of investing and your personal situation will likely play a role in this decision.
If you’re new to investing or unable to actively monitor your investment, you might prefer a professional to manage your investment. If so, consider a managed fund.
On the other hand, if you’re a confident and experienced investor, you may opt for a more hands on approach, such as investing directly in shares or Exchange Traded Funds (ETFs) through Bendigo Invest Direct.
For more helpful tips, check out our Education HUB.
A Wealth specialist can help guide you. Make an enquiry today.
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Things you should know
Sandhurst Trustees
Sandhurst Trustees Limited ABN 16 004 030 737 AFSL 237906 (Sandhurst) is a wholly owned subsidiary of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879. Sandhurst is the responsible entity and issuer of the managed funds available on this website. Additionally, Sandhurst is the issuer of commercial lending products and the provider of traditional trustee services available on this website. Each of these companies receives remuneration on the issue of the product or service they provide. Investments in these products are not deposits with, guaranteed by, or liabilities of Bendigo and Adelaide Bank nor any of its related entities, and are subject to normal investment risk, including possible delays in repayment and loss of income and capital invested.
Information on the website is jointly prepared by Sandhurst and Bendigo and Adelaide Bank and subject to change without notice. Advice in relation to managed funds and commercial lending products is provided by Sandhurst. The information contains general advice only and does not take into account your personal objectives, situation or needs. Before making an investment decision in relation to these products you should consider your situation and read the relevant Product Disclosure Statement available on this site.
The information is given in good faith and has been derived from sources believed to be accurate at its issue date. Neither Sandhurst nor the Bendigo and Adelaide Bank give any warranty for the reliability or accuracy or accept any responsibility arising in any way, including by reason of negligence for errors or omissions for the information contained on this website. Neither Sandhurst nor the Bendigo and Adelaide Bank has an obligation to update, modify or amend this website or notify you in the event that a matter of opinion or projection stated changes or subsequently becomes inaccurate.
Neither Sandhurst nor Bendigo and Adelaide Bank is responsible for the content of any other site accessed via this site. That information is the responsibility of the site owner. Links to other sites are provided for convenience only and do not represent any endorsement by Sandhurst or the Bendigo and Adelaide Bank of the products and services offered by the site owner.
Bendigo Invest Direct is a service provided by CMC Markets Stockbroking Limited ABN 69 081 002 851 AFSL No. 246381 (“CMC Markets Stockbroking”), a Participant of the ASX Group (Australian Securities Exchange), SSX (Sydney Stock Exchange) and Cboe (previously known as Chi-X) at the request of Bendigo and Adelaide Bank Ltd (ABN 11 068 049 178, AFSL 237879) (“Bendigo Bank"). For a copy of the terms and conditions relating to the Bendigo Invest Direct services and the Financial Services Guides for CMC Markets Stockbroking or Bendigo Bank (or other relevant disclosure documents), contact us on 1300 788 982, visit trading.bendigoinvestdirect.com.au/forms or via email at info@bendigoinvestdirect.com.au. Neither CMC Markets Stockbroking nor Bendigo Bank are representatives of each other. To the extent permitted by law, Bendigo Bank will not guarantee or otherwise support CMC Markets Stockbroking’s obligations under the contracts or agreement connected with Bendigo Invest Direct.
Information is general advice only and doesn't take into account your personal objectives, financial situation, or needs. You should consider its appropriateness to your circumstances before acting on this information. Please read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.
