S8 Ep 5: Top 10 Tips for Investing

'Where Your Treasure Is...': The Podcast where Faith and Finance Meet

In Episode 5 of this Faith and Finance Top 10s season, Simon and Bex discuss their Top 10 Tips for Investing.

Some key points of interest covered in this episode include the following:

• Simon’s first top tip on this subject is to consider the investing options for our financial circumstances only once we have put in place the foundational budgetary practices that best suit our needs. [01:36]
• Top tip number two is to be clear about our objectives (‘give every pound a purpose’) and to understand the timescale for each objective. [03:52]
• Thirdly, Simon explains the importance of understanding the nature of risk and of being able to evaluate the level of risk associated with the options available to us at any one time. [05:46]
• Next, Simon suggests that minimising investment-related costs is a sensible approach to take and, if done thoughtfully, can be achieved without compromising the benefits that we are aiming to receive from investing. [07:26]
• On a related note, Simon highlights the advantages of maximising the various tax efficiency options that are legitimately available to us. [09:50]
• When it comes to the practicalities of how and when to invest, Simon suggests that keeping things simple by automating our investing (and creating a ‘pound cost averaging’ approach through that process) can be helpful and cost-effective. [12:25]
• Simon would also encourage us to review our investments from time to time (eg annually) but would urge us not to check on them frequently because they are long-term processes that can involve significant, but irrelevant, fluctuations in the short-term. [13:36]
• In addition, Simon would advise against trying to ‘time the market’. [15:26]
• Simon’s penultimate tip is to take an evidence-based approach so that we avoid being drawn into ‘speculating’ rather than ‘investing’. [18:27]
• Simon’s final top tip is to recognise the significance of investment decisions by researching the options thoroughly and by taking appropriate advice (which can generally be available without incurring cost). [20:29]
• The next episode in this season will focus on top tips for dealing with debt. [23:02]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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