21
WHAT HAVE BEEN YOUR BEST
AND WORST INVESTMENTS?
The worst investment I made, in fact
it was my very first, was
Lastminute.
com
. I got caught up in the
dot.com
bubble. The company’s share price
dropped rapidly in less than a month
of trading – I really didn’t make any
money. It wasn’t a lot, but at the time it
did feel like a lot. I was very naive; my
brother told me it would make me rich.
I tend not to listen to him anymore
when it comes to money. My best
investment has been gold. It’s a
commodity that often hits record
highs. My mum started me off with
this one, and let’s faces it, mums are
always right!
WHAT ADVICE WOULD YOU GIVE
TO ANYONE CONSIDERING SELF-
DIRECTED INVESTING FOR THE
FIRST TIME?
As a financial journalist, I really can’t
give out ‘advice’ as such, but lets say
my tips are: check the fees – many
investment portfolios come with
charges, but some are higher than
others, so make sure you know what
these are and shop around, as high
fees can eat into your investment.
As a DIY investor it’s also important
to only invest in something you
understand.
Also, don’t be fooled into ‘get rich
quick’ schemes – they could leave you
in a lot of trouble.
Finally, don’t go investing if you want
to access your money in a year or
three years time.
Investing is worthwhile if you can
invest for a minimum of five years, but
ideally 10 years.
This is great if you have young children
– put their money into investments
now and it could be worth a fair bit
when they are age 18.
