Australian (ASX) Stock Market Forum

New to investing/trading - don't know where to begin

Jump to new
D

DI.

Joined
20 March 2017
Posts
1
Reactions
0
Hi there! I'm recently discovered about investing/trading from stumbling on 'RichDad/PoorDad' book at the library. I've been researching on how it works and such because:

I'm a 37yr old hairdresser of $40k single income with a disabled partner (very labour intensive job - try cutting hair every 5-10mins for 8hrs 5days/week, see how you fair as you get older)
Have spent about 6 years just to save for a 1st-home deposit (nearly impossible now with the way things are going) and can only come up with $20k
Got really depressed because we've sacrificed not going for overseas/interstate trips while all our friends/clients shared pictures of theirs
Getting more anxious coz rents are climbing higher in Melbourne (don't want to be homeless, living in less than satisfactory condition)
No insurance, so if I am no longer able to work/died, we're f---ed

The book gave me a glimmer of hope, so I consulted a financial planner, hoping he could give me an idea if I could open an online account to trade with maybe $2k. But my hopes are dashed when he said that I'll need at least 50k+ to do so.

Any thoughts on this? Is he right or do I just try and call a broker anyway? Thanks! *feeling hopeful*
 
Frankly you would be better trying to increase your income rate rather than adding more work by learning to trade/invest. Its not a quick skill to learn. You already have a set of skills, whats stopping you from earning a higher rate?

Maybe just index investing to have some skin in the game and some hope of upside. But as a work to reward ratio I would guess there is more upside in the short term by investing in your ability to earn more.
 
Trembling Hand said:
Frankly you would be better trying to increase your income rate rather than adding more work by learning to trade/invest. Its not a quick skill to learn. You already have a set of skills, whats stopping you from earning a higher rate?

Maybe just index investing to have some skin in the game and some hope of upside. But as a work to reward ratio I would guess there is more upside in the short term by investing in your ability to earn more.
Click to expand...

Compound your abilities
You are one
Become 2/3/4/10

http://www.mobilehairdressers.net.au/mobile-hairdresser-adelaide/

Melbourne is a far bigger more lucrative market

Your financial adviser is about as useful as your $2k in investment
 
Top