You don’t know how to invest (Pt 3.)

Why you haven’t started investing? You don’t know how.

You live in 2024, with 5g internet, thousands of resources, and somehow you believe that you ‘don’t know how’ to invest.

A reminder - people have been investing since the 1700’s.

Let’s be real: you just haven’t learned how…yet.

In week 1 I said…so many people have come and gone before us because THEY WANTED TO invest.

Investing is a LEARNING JOURNEY. I repeat, you learn as you go.

Recently we looked at a list of reasons people haven’t started investing.

I think the key 3 were:

1. Fear/scared

2. Unsure how

3. Analysis paralysis

Today we are into part 2.

Unsure how. Fair enough, it’s only 2024 where we have the internet with information at our finger tips. I’m not letting you off the hook that easily!

You don’t even have to walk to the library anymore. But would you, anyway? I once read that only 3% of people ever make use of the library. The resources are there for us though….

In this day of information, you have to be really honest with yourself when it comes to 'HOW' answers.

Do you actually want to know how?

Because all the info is there. Someone could identify that in their answer. ‘tbh, there’s a lot of info online so no real excuse, just lazy to read’.

Are you prepared for the consequences of not investing or not passing that knowledge to your kids?

KiwiSaver is nearly 20 years old and has over 3 million users. Are you one?

If so, you are already investing. You have a foot in the door already. You are an investor!

? Do you know what your KiwiSaver is invested in?

? How much you contribute?

? What it will be worth when you’re 65?

If not, find this info. Get closer to it by looking into your KiwiSaver provider.

This is why Generate KiwiSaver Scheme provides financial advisors for everyday Kiwi to speak to. To help guide people past this ‘unsure how’ piece.

Here are some actions for those people who believe they do not know how to invest:

Step 1: Check your KiwiSaver account. Know what you’re invested in, how much you’re contributing, and your projected balance at retirement.

Step 2: Contact your KiwiSaver provider. Ask if they offer any additional investment funds outside of your retirement account? These can be accessed at any time unlike your actual KiwiSaver fund.

I.e. I did this with Generate KiwiSavers Thematic fund that I can deposit into when I want and withdraw from too. If this is a comfortable way to start investing why not see if your KiwiSaver provider has resources you can access about your own individual investing guide too.

Step 3: Explore educational resources like 'Hatch’s LearnHub' and 'Sharesies Learn' to expand your knowledge base on investing.

And here are links to just 2 resource centres that will have you doing more homework than your favourite school teacher:

Hatch LearnHub: https://www.hatchinvest.nz/learn

Sharesies Learn: https://www.sharesies.nz/learn

Like I said, the guard rails are up, and education has all been put together for you.

It’s easy to feel lost or think you’re missing some special knowledge, but trust me, you don’t need to be a genius to start.

No one is going to read the articles for you. It is going to have to be you.

These platforms won’t pick the stock(s) or the funds for you. But they will guide you.

You still need to be the one to take action.

There is so much info available now. You need to understand that you don’t want to use it.

You’ve decided that. Own that and accept if you really want to, know that the info is there.

Start with knowledge, then build up to action and then habit.

You can know how if you choose to.

Investing is within your reach. Start by spending 10 minutes today looking up your KiwiSaver account or browsing one of the resources linked above. Maybe curate your social media feed to get a bit closer to some of the NZ investing companies that post resources you can learn from.

Then do something with the information.

Small steps lead to big changes that compound over time, and you’re in more control than you realise.

You got this,

Luke

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