Busting Investing Myth Series - Investing is Complicated
Busting Investing Myths Series
6) Investing is complicated
One of the main reason why people don’t invest is, They think Investing is complicated. I don’t blame them. Portfolio Managers, Insurance Agents and Mutual funds sales person want you think it’s complicated and only they can handle it. Make it complex helps them look like experts, Complexity helps them take away 2-3% of your investments every year as fees. They scaremonger either that crash is around the corner or you are going to miss stock on the decade and all the gains it is going to bring.
If your aim is to invest for long term, it’s super simple. If you can signup for Amazon and order things online, You can invest. All you need is signup for a Commission free brokerage like Wealthsimple Trade and buy fixed number of index ETF such as VEQT or VGRO every month. At the time of this post, each unit of VEQT costs $29.21 and that’s the minimum amount you need to invest every month. It’s well diversified across US, Canada and International markets. It has one of lowest fees (MER) of just 0.25%. Once you get into habit of investing every month, You can gradually learn more about Investing and stock markets.
This post may contain affiliate links. Please read our disclosure for more info