- November 9, 2023
- Posted by: legaleseblogger
- Category: Related News
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Seeking Advice on Long-Term Investment Options for Financial Growth
I am currently grappling with the complexities of shares, stocks, and the overall economy, and while I find this subject matter both perplexing and tedious, I recognize the importance of gaining insight into potential investment opportunities as I approach a more mature and financially savvy stage in life. In light of this, I am actively seeking options for placing my money in long-term savings vehicles that offer greater returns than traditional term deposits or savings accounts.
I am particularly interested in gaining a better understanding of the safety and viability of index funds as a long-term investment option. I am drawn to the idea of consistently contributing funds to a variety of index funds on a regular basis and simply allowing them to accrue without concern about sudden and drastic market fluctuations. Additionally, I am hesitant about the perceived unpredictability of investing in individual stocks and would like to explore alternative avenues that offer stability and steady growth over time.
Furthermore, I have been contemplating the possibility of depositing my savings into a growth investment account, similar in concept to a KiwiSaver provided by Simplicity. I am curious to hear from individuals who have had firsthand experience with this type of investment, as well as any discernible differences when compared to other options. Additionally, I am open to receiving suggestions for alternative investment strategies that have proven to be successful for others in similar circumstances.
While I understand that there may not be a definitive answer to my inquiry, I am eager to seek the advice, wisdom, and knowledge of others who have navigated the realm of long-term investments. I greatly appreciate any insights and perspectives that can be offered in shaping my decision-making process.
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****** just grabbed a
An index is a basket of a bunch of different companies. The reason this is a good thing is that it is very possible that on your random Tuesday, company X will tank any you will lose everything is not insignificant. The odds of ALL of the companies tanking and you losing everything is meteor strike small, and you will be worrying about your savings just as much in either case.
Having said that, when you are investing, ‘risk’ means the variability of returns. High risk means that one year you could be up 10%, the next year down 10% (note not down 100%). If you don’t need to get to the money, being down 10% in a year is not a huge problem unless you need to withdraw it. If you just ride it out, you will be fine.
Having said that, just because something is an index fund, it doesn’t mean it is a good idea to invest in. There are index funds which exist to invest in only Russian shares, which probably aren’t the best long term play. Keep it simple, have a think about what you are investing in & you will be fine.
If you are going with Simplicity, I would just stick to their global share funds. They donÔÇÖt have their housing component, which adds unnecessary risk.
Global share funds have about 1400 odd companies, so well diversified. The other option is Total World Fund on InvestNow
A few thoughts:
– Simplicity is basically made up of index funds. There’s no active management involved, so you’re not paying extra for someone who will probably underperform the market. The housing component of their funds isn’t really included in the above statements, but as long as it’s managed well (yes, that’s a big if) it should be ok, and it’s only 10% of the Growth fund. I’m not an expert on this so I won’t comment further.
– Index funds are made up of stocks, so they are volatile and can definitely tank. You won’t lose it all though — as long as you are sufficiently diversified the fund will eventually come back, although it might take a while.
– If it’s for long-term savings, you do need a decent level of exposure to stocks — they are the real growth driver over the long term.
I think Simplicity’s Growth fund is a good option. It’s well diversified, tax-efficient, low cost, and straightforward to set up, you just chuck money in it and leave it alone and it should grow over the long term. Don’t pay attention to headlines, everything you read has already been acted upon and is reflected in the current price of whatever fund you’re in.
Good luck!
Addressing the confusion and boredom about the topic should be your first priority if you’re going to avoid getting stung. https://www.moneyhub.co.nz/investing.html and a copy of https://www.penguin.co.nz/books/your-money-your-future-9780143775089 are good starting points.
My only argument against index investing would be just investing in the SP500. For the last year the top 7 companies have had a huge affect on the index returns as a whole and I don’t believe it acts in a very diversified way. A global index would be preferred