I am new to the shares/stockmarket. I have completed the share course on the ASX website so I have a basic understanding of what it is all about. The tax part is still a bit confusing but I am working on improving my understanding of this. If find it difficult not to switch off whenever I start reading about this lol.
I have what I consider a large amount of money to invest every year. Maybe others would not think it is large but for me it is a lot of money. This money is sitting in a bank account doing very little and I know I need to pull my finger out and do something with it. I have worked out that I can have approx. $100K every year that I can do something with if I choose to.
I understand about a not putting my eggs I one basket. i.e Property, Cash, Shares etc.
My question is this (sorry if is sound dumb). With the shares I purchase should I spread this out amongst the different types of companies to minimise risk e.g. Technology, Mining, Retail, Banks? I am thinking this is the right thing to do from what I have read. Should I put say $10K on one mining company or should I spread that allocation out and put say $2K on 5 different mining companies that look good.
Next year should I buy more shares in the same companies if they are performing well or should I put my money in other companies that I have not currently investing in.
I am tossing up about whether I should get a financial adviser or not. I am thinking about investing in the top 100 companies until I get a better understanding. My plan is not to trade them often but more sit on them and wait.
This is all part of my retirement planning.