I’ve been wanting to start getting into investing my money at the start of the year. It’s took me a long time to finally get onto the investing ladder but today I have officially made my move. I currently only have the GIA account at the moment. I clicked on opening an ISA but haven’t put any money into that yet or paid the monthly fee. Since I’m new to all of this what do people recommend I do for a beginner? Any tips are welcome. Thank you!
Spend a day or 2 reading the forums to get a wide range of views is my suggestion
What @Big-g said! Some particular places you could look include the very top of this screen where there is a ‘Tools’ menu (you might have to turn your phone sideways to see it) – you’ll see Freetrade’s guide to ‘How to start investing in stocks’. See also the discussion thread How We Should All Invest – But Probably Won’t (Newbie Guide). But like @Big-g said, browse around for a bit to get a bit familiar with the issues and the jargon before jumping in at the deep end.
It depends on the amount of money you are putting in, if its a lot I would start with a few funds and monitor whilst you learn in the back-round. If its a small amount of money you could try a few company stocks, a small amount is no bad thing as everybody makes mistakes when they start and you may as well learn and lose small. But eventually an ISA is a no brainer, no tax worries at all, and its a pain to move everything from GIA to ISA.
Note that the only way to do this is to sell your stocks in your GIA, transfer the cash to ISA and then buy all your stocks again.
A bit fiddly so something to consider for the future.
check out these two youtube channels, which in my opinion are GREAT for beginners:
Thank you I’ll be sure to watch them as soon as. Definitely getting my research in!
PensionCraft is consistently great, these educational channels are also very good:
YouTube is a bit of a minefield, basically don’t look at anyone recommending particular stocks, ideally look for people with industry experience and especially qualification (CFA)