isaiahvega
New member
Hi, beginner investor seeking advice about using sharesies. I recently red "your money, your future" by Frances Cook and it got me focused to stop spending on unnecessary things and start thinking longer term.
Bullet points for context and questions at the end
- I own a home but am a long way off paying that one off
- I want to invest a set amount say $200 every fortnight and see where it can grow and to diversify away form all my eggs in the NZ housing basket.
- Im keen to focus on index funds as I want to just set it and then check in every couple of years or so. aka a very hands off approach
- I don't want to invest in NZ property related shares as the main point is to diversify away form the NZ housing market.
- I'm keen to have low management fees and so figured that Id use sharsies... set up a auto transfer each pay check and an auto invest. Its a $3/month fee to buy and sell.
- The three funds I want to invest in are in the screenshot.
- I see theres a fee (0.5%) to transfer funds to AUD.
- im only choosing AUD and NZD markets as I understand thats how you avoid large taxs after you build up a portfolio (which lets be honest is years away)
Questions: Are there any stratages or things I should know about starting off with this? any advice?
I'm sure there are probably posts here going into it so feel free to link any old ones that are applicable.
thanks in advance
**OP Edit - I dont think the screen shot worked so tried again.
https://preview.redd.it/4obliznjuhm...bp&s=f5aad24b5ce3663118b71641303c0382e6645dfa
Bullet points for context and questions at the end
- I own a home but am a long way off paying that one off
- I want to invest a set amount say $200 every fortnight and see where it can grow and to diversify away form all my eggs in the NZ housing basket.
- Im keen to focus on index funds as I want to just set it and then check in every couple of years or so. aka a very hands off approach
- I don't want to invest in NZ property related shares as the main point is to diversify away form the NZ housing market.
- I'm keen to have low management fees and so figured that Id use sharsies... set up a auto transfer each pay check and an auto invest. Its a $3/month fee to buy and sell.
- The three funds I want to invest in are in the screenshot.
- I see theres a fee (0.5%) to transfer funds to AUD.
- im only choosing AUD and NZD markets as I understand thats how you avoid large taxs after you build up a portfolio (which lets be honest is years away)
Questions: Are there any stratages or things I should know about starting off with this? any advice?
I'm sure there are probably posts here going into it so feel free to link any old ones that are applicable.
thanks in advance
**OP Edit - I dont think the screen shot worked so tried again.
https://preview.redd.it/4obliznjuhm...bp&s=f5aad24b5ce3663118b71641303c0382e6645dfa