Investment Strategies for Beginners
Introduction by Host: Dr. Gee
One of the key aspects of Financial Wellness is making you money work for you. The move common way that this is done is through investments. Investing can seem very complicated and risk, but is this truly the case? Dr. Shadrach Dare joins us today to share his experience in investing and to give us tips on how we can begin to invest ourselves.
Guest Bio
Dr. Shadrach Dare is the administrator of the Diaspora Careers and Investments YouTube and Facebook pages. He is also a lecturer at Glasgow Caledonian University in Scotland, and loves to teach others about financial literacy.
Q: How Long Have You Been Exploring Financial Literacy?
Since I moved to the west. When I moved, I went to the bank to get a loan and was denied. This made no sense to me; I had good savings and didn’t have any debts. I was told that I need to have a good credit score. So, in order to get a loan, I needed to have debts. It made no sense to me, so I decided to educated myself in finances.
Q: What are Some Investment Opportunities for Beginners?
It all comes back to buying and selling. You want to buy it cheap and sell it for a profit. My mom buys and sells peppers and tomatoes, and that is a form of investment. Real estate, stocks and shares, bonds, mutual funds, and other commodities are all ways to invest your money.
Q: What are Common Myths About Investment?
One of the most common myths I hear is that it is not a moral thing to do. Investment is talked about in the Bible. The Bible says that a wise man will leave an inheritance to his children’s children. Not just their children, but multiple generations. Investing is encouraged by the Bible.
Q: What is Your Investment Strategy?
There are so many things you can invest in. What you choose to invest in will affect your strategy. In general, there are two things to consider when making an investment: how much money do I have to invest, and how long can I invest it for? What you choose to invest in will determine when and where you can invest, but these two things are what you can decide to invest in.
The first thing you should invest in is yourself. This is something that is not taught in university. You have the highest potential of all your material assets. Invest in your education and skill development. When you equip yourself, you will find that opportunities will come to you.
Another common investing strategy is to buy stocks and shares in an existing company. There are businesses out there that you can buy stocks in, and those stocks will make money. Facebook, Apple, Google, and many other companies are thriving already, so partner with them. Whenever they make profits, you also make profit.
Q: What is the Difference Between Investing and Saving?
Savings is a short-term prospect, while investing is a long-term method of making money. My rule of thumb is this: if you think you will need the money in the next five years, put it into savings. If it is going to be longer than that, invest that money instead.
Closing Thoughts
For those who are considering investing, I would encourage you to begin. It can be scary to begin with, but once you start, you are good. You will only get better at it by doing it. You can start with as little as $50 and begin to grow your finances. Take your financial wellness into your own hands and begin to thrive!
By Dr. Gee, Success and Holistic Wellness Advocate
