Investing can feel intimidating for beginners, especially with so many different asset classes to choose from. The fear of missing out and the lure of quick profits can also push new investors towards scams or overly complex financial products.
I have come across so many stories of people who have lost money buying investment-linked insurance products, in gold and crypto trading, as well as other convoluted schemes. In most cases, beginners tend to fall for the lure of too-good-to-be-true returns.
However, speak to any personal finance expert and they always tell you that investing should be simple and should not take more than five minutes per month. Ask them which product to invest in and their answer is unanimous: exchange-traded funds (ETFs) or index funds.
Since even this can sound alien to beginners, one good option is to join support groups such as non-profit Facebook group SimplyFI Index Investing and Financial Independence, which also offers a Getting Started Guide. Other resources for beginners include reading books by personal finance experts, such as Andrew Hallam's The Global Expatriate’s Guide to Investing.
If you want to initially gain confidence, it is recommended to choose robo-advisory services. If you prefer the do-it-yourself route, invest via regulated low-cost brokerages. You can also seek support from a coach to learn how to navigate these platforms.
In what asset classes do you invest? What are your investment tips? Drop us an email at pf@thenationalnews.com
If your goal is to grow wealth over the long term, you must invest in the stock market. Getty Images
It’s common for people to feel confused or intimidated by the idea of investing to generate income.
Beginners often feel lost in the noise of advice and don’t know what their first move should be. They feel overwhelmed about where to begin their investing journey.
It’s important to start with sources that teach the basics of simple investing. There are plenty of free online resources, but novice investors need to be careful about who they are learning from and what their motives are, says Carol Glynn, founder of Conscious Finance Coaching.
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UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Fixtures
Friday, April 12, Malaysia v UAE
Saturday, April 13, UAE v Nepal
Monday, April 15, UAE v Kuwait
Tuesday, April 16, UAE v Singapore
Thursday, April 18, UAE v Oman
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
