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How To Get Started In Investing

For most of us, barring an unlikely sweep on the National Lottery, the prospect of making it onto the Sunday Times rich list isn’t very likely. But being comfortably well off is something we all aspire to be – and it isn’t an unrealistic ambition. Working hard and spending our well-earned cash wisely, leaving some to squirrel away, is half the battle to achieving financial peace of mind.

Today, though, being a hard worker and assiduous saver isn’t enough. Interest rates are at record lows and likely to remain so for some time – which means that if you put money in a savings account its value will be eroded by inflation. In other words, as each year passes your money will buy less. Many of us will be luckyenough to receive some form of company pension, but even these are much less generous than they used to be – as corporate pensions have shifted from ‘defined benefit’ to ‘defined contribution’, we know how much we’re putting in but no longer have any idea of what we’re likely to get out in retirement. The answer is to invest yourself to get better returns. And while there is a perception that playing the stock market is a gamble, this needn’t be the case if you do your homework and take a disciplined approach.

In short, don’t view investing as a get-rich-quick scheme and take silly risks as a result. Most of the world’s most successful investors subscribe to the theory of getting rich slowly. It’s a simple but wise philosophy...

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