Humans have never had it so good even though the world can seem a dark and desperate place at times.
Despite the challenges of climate change, outbreaks of war and disease that can quickly sweep across the planet, today’s man or women is richer, healthier and safer than ever before.
People should no longer have to worry about finding enough food, water and shelter.
Instead, we have spare money to save or invest in making life better for ourselves, our families and loved ones, some of whom are yet to be born.
Investment dos and don’ts
Investing can be scary – but bear these points in mind:
You don’t have to be a financial expert – If you are, fine, but if not, someone else will take the strain and do the heavy lifting for you. That’s what passive tracker funds are for. You choose the fund and the fund follows the rise and fall of the markets.
Don’t worry about making mistakes – Investing is a long term activity. If you start early enough, you will have plenty of time to recover from even the direst financial setbacks.
Don’t try to beat the markets – You may be lucky now and then on cashing in some shares at a profit, but trying to guess the future is a mug’s game and likely to lead to big losses. Plan with what you know and don’t try to fill in the gaps.
Don’t be a dedicated follower of fashion – There’s a saying that by the time most people decide to jump on the gravy train it’s left the station. Buying what’s trendy is not necessarily a good idea.
Avoid gurus selling tips and courses – There are no secrets about how to invest and if you had a money-making formula, would you spend your time selling your knowledge to others to profit from? After all, that could impact your own investments. Instead of paying a so-called expert, you can find out most of what you need to know for free if you look in the right places.
There are no guarantees – Investments that come with guaranteed returns that seem to good to be true probably are. The history of investment is littered with scams and failed get-rich-quick schemes.