Search

Home > NZ Guide to Financial Freedom > Quick Fire Finance - Big Mistake By Famous New Zealand Journalist
Podcast: NZ Guide to Financial Freedom
Episode:

Quick Fire Finance - Big Mistake By Famous New Zealand Journalist
Category: Business
Duration: 00:08:16
Publish Date: 2020-12-15 13:00:00
Description:

The challenge we often face in planning for our retirement, is knowing the difference between good and bad advice. In this case, NZ's favourite financial journalist Mary Holm had a slip up that could have cost a person their financial livelihood and it went like this:

Question:  "I have $200,000 to invest for my retirement. I am 70. Should I look at a fund or should I just buy a spread of shares myself?"

Mary Holm's Answer: 

"You’ve got enough money to buy a wide range of shares, so you could do it yourself. Here’s how I suggest you go about it:

· Make sure you buy in many different industries, as there’s no good way to predict which shares will perform better. Just because a company or industry has a promising future, that doesn’t mean its shares are good buys, as they might already be highly priced.

· Don’t buy and sell. Even the professionals get that wrong often. Be like Warren Buffett and buy for the long term.

Buying shares directly is a bit more hassle than investing in a fund or two — as suggested to the previous reader. But your costs will probably be lower than paying fees on the funds.

In the end, it probably comes down to whether direct investing appeals to you."

Source: NZ Herald 15 September 2018

Also, if you're wanting your question answered on the podcast email me at ryan@oneplan.co.nz, send a voice message below or capitalise on our free online tools and advice:
Total Play: 0