Embark on a successful investing journey with expert advice from Clive Fernandes, Director of National Capital. Discover the crucial steps to finding the right financial advisor for young adults, prepare effectively before your meeting, and explore recommended books for financial empowerment.
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“I’m looking for a financial adviser who can help me with starting investing as a young adult (23 years old). Does anyone have any recommendations, things to look out for, things to do BEFORE seeing an adviser, books to read? Any general investment advice for a young person with basic financial literacy welcome. TIA.”
(Original question on Reddit)
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Sure, I’d be happy to help provide you with some tips for your investing journey! Here are some recommendations:
Finding a Financial Advisor:
A financial advisor for young adults is a professional with the credentials and experience to manage investments, take charge of tax planning, create financial plans, and offer advice in various financial areas.
You can find a financial advisor through referrals, personal recommendations, or online platforms.
It’s important to understand what you want to achieve from the advice, then do your homework to make sure you choose a Financial Advice Provider who meets your needs.
Before Seeing a Financial Advisor:
- Prepare a list of your assets and liabilities.
- Outline your income and expenses.
- Write down your goals.
- Consider the needs of your family.
- Understand your financial strengths and weaknesses.
- Get your financial documents in order.
- Prepare a list of questions to ask your advisor.
Books to Read:
- “The Intelligent Investor” by Benjamin Graham.
- “How to Make Money in Stocks” by William J. O’Neil.
- “How to Invest in Real Estate” by Joshua Dorkin and Brandon Turner.
- “The Little Book That Still Beats the Market” by Joel Greenblatt.
General Investment Advice:
Prioritize your education. Many financial advisors recommend that young investors spend money on their professional growth and financial education.
Seek out mentors experienced in investing and learn from their experiences and advice to gain a better footing in the field.
View your investments in the greater scheme of your life or portfolio in order to make better-informed decisions and prioritize your goals.
Remember, investing is a long-term journey and it’s okay to start small and learn as you go. Good luck!
Hope this helps.
Regards, Clive Fernandes (Financial Adviser)
Director – National Capital
Disclosure: I am the director of National Capital, a KiwiSaver advice firm. The views expressed in this article are the views of the author. The information provided is of a general nature and is not intended to be personalised financial advice. You may seek appropriate financial advice from a Financial Adviser to suit your individual circumstances or contact National Capital.
