Investing your hard-earned money is a little bit like organ transplant: the stakes are high and decisions are best left to the experts. It doesn't mean however that you just close your eyes and hand over your piggy bank. Thanks to the internet, you can check out many websites to get handy tips on how to go about investing in so-called 'managed funds'.
We know you're time-poor so why not start out with just checking out three website links we've picked below? They're worth the few minutes it takes to see whether they're useful to you.
1. Paul Clitheroe, a financial expert who is big on financial education, writes about complex topics using simple language. See http://www.ipac.com.au/blog/managed-funds-tick-many-boxes on his latest blog about investing in managed funds for as little as $80.
2. Yes, the Australian Filipina is a publication for all but we have to give that extra leg-up for our Filipina sistuhs. For all of you hardworking career women out there, check out www.moneygirl.com.au, which, like Clitheroe's blog, is financial education in basic English. On managed funds, there's stuff to read on http://moneygirl.com.au/managed-funds/invest-in-a-managed-fund/.
Saving for a rainy day
3. They call themselves 'The People's Watchdog'. Consumer body 'Choice' has a section on its website dedicated solely on investing (
http://www.choice.com.au/reviews-and-tests/money/investing.aspx). It's disappointing that their last article on a buyer's guide to managed funds was done way back in 2007 but the basic premise still holds to this day so it's still worth reading. See
http://www.choice.com.au/reviews-and-tests/money/investing/products/managed-funds-buying-guide.aspx.
Besides, it's worth bookmarking www.choice.com.au because they're quite good at naming and shaming those who do dodgy deals, whether it's about the worst plasma TV to buy or a rip-off deal in property.
If you're tight for time, read Clitheroe's blog. It's chockfull of easily digestible info on investing.