Thinktank prompts young drivers to take test only after learning for a year
Before starting, new investors should have at least the knowledge on how investing works
08:27 21 July 2013
One year of learning period is what the RAC Foundation urges in order to reduce the high death tolls of young drivers. The one-year period would give youngsters the experience in driving in different conditions and in darkness.
Additionally, statistics show that one out of five young drivers meets an accident just 6 months of being licensed. It just shows that getting right knowledge and experience is key for being safe.
Likewise, while starting an investment, getting oriented to your area of investment is crucial to keep heavy losses at bay. Every little bit of knowledge will greatly affect the pattern of an investor’s actions.
However, as a newbie, there would be much to learn. Here are a few latest investment tips to get you started:
1.Acquire as much knowledge from experts - As a newcomer, getting a piece of advice from an expert will give the much-neededlaunch pad for investing
2.Start investing ASAP - As financial experts would say, “you are never too young to invest”. Starting young means getting more knowledge in the long run than your older counterparts. Plus, the longer the money is in the bank, the more interest it earns
3.Invest onwhat you are familiar with- Since newbies rarely know about complex investment opportunities, it is best to start with something familiar. (e.g. buying shares from a favorite phone brand or fast food restaurant)
4.Diversify - To newbies, portfolio diversification may be something unfamiliar, but it just means making different investments or acquiring different investment assets. (e.g. using 25per cent of funds for shares, 25per cent for bonds, 50per cent for foreign investments)
5.Do-it-yourself - Having an investment broker might be an easier option, but it is not ideal. More knowledge can only be acquired by the DIY method and brokerage feescan be eliminated as well